Document:

EXHIBIT 10.1

 Exhibit 10.1 
  
  
  
 COLFAX CORPORATION 
 2008 OMNIBUS
INCENTIVE PLAN 
  
  
  

 TABLE OF CONTENTS 
  

			
	 	  	Page
	 1. PURPOSE
	  	1
	 2. DEFINITIONS
	  	1
	 3. ADMINISTRATION OF THE PLAN
	  	6
	 3.1. Board
	  	6
	 3.2. Committee
	  	6
	 3.3. Terms of Awards
	  	7
	 3.4. Deferral Arrangement
	  	8
	 3.5. No Liability
	  	8
	 3.6. Share Issuance/Book-Entry
	  	8
	 4. STOCK SUBJECT TO THE PLAN
	  	8
	 4.1. Number of Shares Available for Awards
	  	8
	 4.2. Adjustments in Authorized Shares
	  	9
	 4.3. Share Usage
	  	9
	 5. EFFECTIVE DATE, DURATION AND AMENDMENTS
	  	9
	 5.1. Effective Date
	  	9
	 5.2. Term
	  	9
	 5.3. Amendment and Termination of the Plan
	  	9
	 6. AWARD ELIGIBILITY AND LIMITATIONS
	  	10
	 6.1. Service Providers and Other Persons
	  	10
	 6.2. Successive Awards and Substitute Awards
	  	10
	 6.3. Limitation on Shares of Stock Subject to Awards
	  	10
	 7. AWARD AGREEMENT
	  	11
	 8. TERMS AND CONDITIONS OF OPTIONS
	  	11
	 8.1. Option Price
	  	11
	 8.2. Vesting
	  	11
	 8.3. Term
	  	11
	 8.4. Termination of Service
	  	11
	 8.5. Limitations on Exercise of Option
	  	11
	 8.6. Method of Exercise
	  	12
	 8.7. Rights of Holders of Options
	  	12
	 8.8. Delivery of Stock Certificates
	  	12
	 8.9. Transferability of Options
	  	12
	 8.10. Family Transfers
	  	12
	 8.11. Limitations on Incentive Stock Options
	  	13
	 8.12. Notice of Disqualifying Disposition
	  	13
	 9. TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS
	  	13
	 9.1. Right to Payment and Grant Price
	  	13
	 9.2. Other Terms
	  	13
	 9.3. Term
	  	14
	 9.4. Transferability of SARS
	  	14

  

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	 9.5. Family Transfers
	  	14
	 10. TERMS AND CONDITIONS OF RESTRICTED STOCK AND STOCK UNITS
	  	14
	 10.1. Grant of Restricted Stock or Stock Units
	  	14
	 10.2. Restrictions
	  	14
	 10.3. Restricted Stock Certificates
	  	15
	 10.4. Rights of Holders of Restricted Stock
	  	15
	 10.5. Rights of Holders of Stock Units
	  	15
	 10.5.1.Voting and Dividend Rights
	  	15
	 10.5.2.Creditor’s Rights
	  	15
	 10.6. Termination of Service
	  	16
	 10.7. Purchase of Restricted Stock
	  	16
	 10.8. Delivery of Stock
	  	16
	 11. TERMS AND CONDITIONS OF UNRESTRICTED STOCK AWARDS
	  	16
	 12. FORM OF PAYMENT FOR OPTIONS AND RESTRICTED STOCK
	  	16
	 12.1. General Rule
	  	16
	 12.2. Surrender of Stock
	  	17
	 12.3. Cashless Exercise
	  	17
	 12.4. Other Forms of Payment
	  	17
	 13. TERMS AND CONDITIONS OF DIVIDEND EQUIVALENT RIGHTS
	  	17
	 13.1. Dividend Equivalent Rights
	  	17
	 13.2. Termination of Service
	  	18
	 14. TERMS AND CONDITIONS OF PERFORMANCE SHARES, PERFORMANCE UNITS, PERFORMANCE AWARDS AND ANNUAL INCENTIVE AWARDS
	  	18
	 14.1. Grant of Performance Units/Performance Shares
	  	18
	 14.2. Value of Performance Units/Performance Shares
	  	18
	 14.3. Earning of Performance Units/Performance Shares
	  	18
	 14.4. Form and Timing of Payment of Performance Units/Performance Shares
	  	18
	 14.5. Performance Conditions
	  	19
	 14.6. Performance Awards or Annual Incentive Awards Granted to Designated Covered Employees
	  	19
	 14.6.1.Performance Goals Generally
	  	19
	 14.6.2.Timing For Establishing Performance Goals
	  	19
	 14.6.3.Settlement of Awards; Other Terms
	  	19
	 14.6.4.Performance Measures
	  	20
	 14.6.5.Evaluation of Performance
	  	21
	 14.6.6.Adjustment of Performance-Based Compensation
	  	21
	 14.6.7.Board Discretion
	  	21
	 14.7. Status of Section Awards Under Code Section 162(m)
	  	21

  

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	 15. PARACHUTE LIMITATIONS
	  	22
	 16. REQUIREMENTS OF LAW
	  	23
	 16.1. General
	  	23
	 16.2. Rule 16b-3
	  	23
	 17. EFFECT OF CHANGES IN CAPITALIZATION
	  	24
	 17.1. Changes in Stock
	  	24
	 17.2. Reorganization in Which the Company Is the Surviving Entity Which does not Constitute a Corporate Transaction
	  	24
	 17.3. Corporate Transaction
	  	25
	 17.4. Adjustments
	  	26
	 17.5. No Limitations on Company
	  	26
	 18. GENERAL PROVISIONS
	  	26
	 18.1. Disclaimer of Rights
	  	26
	 18.2. Nonexclusivity of the Plan
	  	27
	 18.3. Withholding Taxes
	  	27
	 18.4. Captions
	  	27
	 18.5. Other Provisions
	  	28
	 18.6. Number and Gender
	  	28
	 18.7. Severability
	  	28
	 18.8. Governing Law
	  	28
	 18.9. Section 409A of the Code
	  	28

  

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 COLFAX CORPORATION 
 2008 STOCK INCENTIVE PLAN 
 Colfax Corporation, a Delaware corporation (the “Company”),
sets forth herein the terms of its 2008 Omnibus Incentive Plan (the “Plan”), as follows: 
  

	1.	PURPOSE 

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

	2.	DEFINITIONS 

 For purposes of interpreting the Plan
and related documents (including Award Agreements), the following definitions shall apply: 
 2.1 “Affiliate” means, with
respect to the Company, any company or other trade or business that controls, is controlled by or is under common control with the Company within the meaning of Rule 405 of Regulation C under the Securities Act, including, without limitation, any
Subsidiary. For purposes of granting stock options or stock appreciation rights, an entity may not be considered an Affiliate if it results in noncompliance with Code Section 409A. 
 2.2 “Annual Incentive Award” means an Award made subject to attainment of performance goals (as described in Section 14) over a
performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee). 
 2.3
“Award” means a grant of an Option, Stock Appreciation Right, Restricted Stock, Unrestricted Stock, Stock Unit, Dividend Equivalent Rights, Performance Share, or Performance Unit under the Plan. 
 2.4 “Award Agreement” means the written agreement between the Company and a Grantee that evidences and sets out the terms and conditions
of an Award. 

 2.5 “Benefit Arrangement” shall have the meaning set forth in Section 15
hereof. 
 2.6 “Board” means the Board of Directors of the Company. 
 2.7 “Cause” means, as determined by the Board and unless otherwise provided in an applicable agreement with the Company or:
(i) gross negligence or willful misconduct in connection with the performance of duties; (ii) conviction of a criminal offense (other than minor traffic offenses); or (iii) material breach of any term of any employment, consulting or
other services, confidentiality, intellectual property or non-competition agreements, if any, between the Service Provider and the Company or any Subsidiary. 
 2.8 “Code” means the Internal Revenue Code of 1986, as now in effect or as hereafter amended. 
 2.9 “Committee” means a committee of, and designated from time to time by resolution of, the Board, which shall be constituted as provided in Section 3. 
 2.10 “Company” means Colfax Corporation. 
 2.11 “Corporate Transaction” means (i) the dissolution or liquidation of the Company or a merger, consolidation, or reorganization of the Company with one or more other entities in which the
Company is not the surviving entity, (ii) a sale of substantially all of the assets of the Company to another person or entity, or (iii) any transaction (including without limitation a merger or reorganization in which the Company is the
surviving entity) which results in any person or entity (other than persons who are stockholders or Affiliates immediately prior to the transaction) owning 50% or more of the combined voting power of all classes of stock of the Company. 

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

 2.13 “Disability” means the Grantee is unable to perform each of the essential duties of such Grantee’s position by
reason of a medically determinable physical or mental impairment which is potentially permanent in character or which can be expected to last for a continuous period of not less than 12 months; provided, however, that, with respect to rules
regarding expiration of an Incentive Stock Option following termination of the Grantee’s Service, Disability shall mean the Grantee is unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental
impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. 
 2.14 “Dividend Equivalent Right” means a right, granted to a Grantee under Section 13 hereof, to receive cash, Stock, other Awards or other property equal in value to dividends paid with
respect to a specified number of shares of Stock, or other periodic payments. 
  

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 2.15 “Effective Date” means
                 , 2008, the date the Plan is approved by the Board. 
 2.16 “Exchange Act” means the Securities Exchange Act of 1934, as now in effect or as hereafter amended. 
 2.17 “Fair Market Value” means the value of a share of Stock, determined as follows: if on the Grant Date or other determination date the Stock is listed on an established national or regional stock
exchange, is admitted to quotation on The Nasdaq Stock Market, Inc. or is publicly traded on an established securities market, the Fair Market Value of a share of Stock shall be the closing price of the Stock on such exchange or in such market (if
there is more than one such exchange or market the Board shall determine the appropriate exchange or market) on the Grant Date or such other determination date (or if there is no such reported closing price, the Fair Market Value shall be the mean
between the highest bid and lowest asked prices or between the high and low sale prices on such trading day) or, if no sale of Stock is reported for such trading day, on the next preceding day on which any sale shall have been reported. If the Stock
is not listed on such an exchange, quoted on such system or traded on such a market, Fair Market Value shall be the value of the Stock as determined by the Board in good faith in a manner consistent with Code Section 409A. In case of an Award
for which the Grant Date is the IPO Effective Date, the Fair Market Value shall equal the offering price of a share of Stock in the IPO. 
 2.18 “Family Member” means a person who is a spouse, former spouse, child, stepchild, grandchild, parent, stepparent, grandparent, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister,
brother-in-law, or sister-in-law, including adoptive relationships, of the Grantee, any person sharing the Grantee’s household (other than a tenant or employee), a trust in which any one or more of these persons have more than fifty percent of
the beneficial interest, a foundation in which any one or more of these persons (or the Grantee) control the management of assets, and any other entity in which one or more of these persons (or the Grantee) own more than fifty percent of the voting
interests. 
 2.19 “Grant Date” means, as determined by the Board, the latest to occur of (i) the date as of which the
Board approves an Award, (ii) the date on which the recipient of an Award first becomes eligible to receive an Award under Section 6 hereof, or (iii) such other date as may be specified by the Board. 
 2.20 “Grantee” means a person who receives or holds an Award under the Plan. 
 2.21 “Incentive Stock Option” means an “incentive stock option” within the meaning of Section 422 of the Code, or the
corresponding provision of any subsequently enacted tax statute, as amended from time to time. 
 2.22 “Initial Public Offering”
or “IPO” means the initial firm commitment underwritten registered public offering by the Company of the Stock. 
  

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 2.23 “IPO Effective Date” means the date on which the Company and the underwriters for
the IPO enter into a purchase agreement establishing the price of the Stock to be sold in the IPO. 
 2.24 “Non-qualified Stock
Option” means an Option that is not an Incentive Stock Option. 
 2.25 “Option” means an option to purchase one or
more shares of Stock pursuant to the Plan. 
 2.26 “Option Price” means the exercise price for each share of Stock subject
to an Option. 
 2.27 “Other Agreement” shall have the meaning set forth in Section 14 hereof. 
 2.28 “Outside Director” means a member of the Board who is not an officer or employee of the Company. 
 2.29 “Performance Award” means an Award made subject to the attainment of performance goals (as described in Section 14)
over a performance period of up to ten (10) years. 
 2.30 “Performance-Based Compensation” means compensation under an
Award that is intended to satisfy the requirements of Code Section 162(m) for certain performance-based compensation paid to Covered Employees. Notwithstanding the foregoing, nothing in this Plan shall be construed to mean that an Award which
does not satisfy the requirements for performance-based compensation under Code Section 162(m) does not constitute performance-based compensation for other purposes, including Code Section 409A. 
 2.31 “Performance Measures” means measures as described in Section 14 on which the performance goals are based and which are
approved by the Company’s shareholders pursuant to this Plan in order to qualify Awards as Performance-Based Compensation. 
 2.32
“Performance Period” means the period of time during which the performance goals must be met in order to determine the degree of payout and/or vesting with respect to an Award. 
 2.33 “Performance Share” means an Award under Section 14 herein and subject to the terms of this Plan, denominated in
Shares, the value of which at the time it is payable is determined as a function of the extent to which corresponding performance criteria have been achieved. 
 2.34 “Performance Unit” means an Award under Section 14 herein and subject to the terms of this Plan, denominated in Stock Units, the value of which at the time it is payable is determined
as a function of the extent to which corresponding performance criteria have been achieved. 
  

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 2.35 “Plan” means this Colfax Corporation 2008 Omnibus Incentive Plan. 
 2.36 “Purchase Price” means the purchase price for each share of Stock pursuant to a grant of Restricted Stock or Unrestricted Stock.

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

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

 2.39 “SAR Exercise Price” means the per share exercise price of an SAR granted to a Grantee under Section 9
hereof. 
 2.40 “Securities Act” means the Securities Act of 1933, as now in effect or as hereafter amended. 
 2.41 “Service” means service as a Service Provider to the Company or an Affiliate. Unless otherwise stated in the applicable Award
Agreement, a Grantee’s change in position or duties shall not result in interrupted or terminated Service, so long as such Grantee continues to be a Service Provider to the Company or an Affiliate. Subject to the preceding sentence, whether a
termination of Service shall have occurred for purposes of the Plan shall be determined by the Board, which determination shall be final, binding and conclusive. 
 2.42 “Service Provider” means an employee, officer or director of the Company or an Affiliate, or a consultant or adviser (who is a natural person) currently providing services to the Company or an
Affiliate. 
 2.43 “Stock” means the common stock, par value $0.001 per share, of the Company. 
 2.44 “Stock Appreciation Right” or “SAR” means a right granted to a Grantee under Section 9 hereof.

 2.45 “Stock Unit” means a bookkeeping entry representing the equivalent of one share of Stock awarded to a Grantee
pursuant to Section 10 hereof. 
 2.46 “Subsidiary” means any “subsidiary corporation” of the Company
within the meaning of Section 424(f) of the Code. 
 2.47 “Substitute Awards” means Awards granted upon assumption of,
or in substitution for, outstanding awards previously granted by a company or other entity acquired by the Company or any Affiliate or with which the Company or any Affiliate combines. 
  

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

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

	3.	ADMINISTRATION OF THE PLAN 

  

	 	3.1.	Board. 

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

	 	3.2.	Committee. 

 The Board from time to time may
delegate to the Committee such powers and authorities related to the administration and implementation of the Plan, as set forth in Section 3.1 above and other applicable provisions, as the Board shall determine, consistent with the
certificate of incorporation and by-laws of the Company and applicable law. 
 (i) Except as provided in Subsection
(ii) and except as the Board may otherwise determine, the Committee, if any, appointed by the Board to administer the Plan shall consist of two or more Outside Directors of the Company who: (a) qualify as “outside directors”
within the meaning of Section 162(m) of the Code and who (b) meet such other requirements as may be established from time to time by the Securities and Exchange Commission for plans intended to qualify for exemption under Rule 16b-3 (or
its successor) under the Exchange Act and who (c) comply with the independence requirements of the stock exchange on which the Common Stock is listed. 
  

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 (ii) The Board may also appoint one or more separate committees of the Board, each
composed of one or more directors of the Company who need not be Outside Directors, who may administer the Plan with respect to employees or other Service Providers who are not officers or directors of the Company, may grant Awards under the Plan to
such employees or other Service Providers, and may determine all terms of such Awards. 
 In the event that the Plan, any Award or any Award Agreement
entered into hereunder provides for any action to be taken by or determination to be made by the Board, such action may be taken or such determination may be made by the Committee if the power and authority to do so has been delegated to the
Committee by the Board as provided for in this Section. Unless otherwise expressly determined by the Board, any such action or determination by the Committee shall be final, binding and conclusive. To the extent permitted by law, the Committee may
delegate its authority under the Plan to a member of the Board. 
  

	 	3.3.	Terms of Awards. 

 Subject to the other terms and
conditions of the Plan, the Board shall have full and final authority to: 
 (i) designate Grantees, 
 (ii) determine the type or types of Awards to be made to a Grantee, 
 (iii) determine the number of shares of Stock to be subject to an Award, 
 (iv) establish the terms and conditions of each Award (including, but not limited to, the exercise price of any Option, the nature and
duration of any restriction or condition (or provision for lapse thereof) relating to the vesting, exercise, transfer, or forfeiture of an Award or the shares of Stock subject thereto, and any terms or conditions that may be necessary to qualify
Options as Incentive Stock Options), 
 (v) prescribe the form of each Award Agreement evidencing an Award, and 
 (vi) amend, modify, or supplement the terms of any outstanding Award. Such authority specifically includes the authority, in order to
effectuate the purposes of the Plan but without amending the Plan, to modify Awards to eligible individuals who are foreign nationals or are individuals who are employed outside the United States to recognize differences in local law, tax
policy, or custom. Notwithstanding the foregoing, no amendment, modification or supplement of any Award shall, without the consent of the Grantee, impair the Grantee’s rights under such Award. 
 The Company may retain the right in an Award Agreement to cause a forfeiture of the gain realized by a Grantee on account of actions taken by the Grantee
in violation or breach of or in conflict with any employment agreement, non-competition agreement, any agreement prohibiting solicitation of employees or clients of the Company or any Affiliate thereof or any confidentiality obligation with respect
to the Company or any Affiliate thereof or otherwise in competition with the Company or any Affiliate thereof, to the extent 

  

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specified in such Award Agreement applicable to the Grantee. Furthermore, the Company may annul an Award if the Grantee is an employee of the Company or an
Affiliate thereof and is terminated for Cause as defined in the applicable Award Agreement or the Plan, as applicable. 
 Notwithstanding the
foregoing, no amendment or modification may be made to an outstanding Option or SAR which reduces the Option Price or SAR Exercise Price, either by lowering the Option Price or SAR Exercise Price or by canceling the outstanding Option or SAR and
granting a replacement Option or SAR with a lower exercise price without the approval of the stockholders of the Company, provided, that, appropriate adjustments may be made to outstanding Options and SARs pursuant to Section 17. 

 

	 	3.4.	Deferral Arrangement. 

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

	 	3.5.	No Liability. 

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

	 	3.6.	Share Issuance/Book-Entry. 

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

	4.	STOCK SUBJECT TO THE PLAN 

  

	 	4.1.	Number of Shares Available for Awards. 

 Subject to
adjustment as provided in Section 17 hereof, the number of shares of Stock available for issuance under the Plan shall be the number of shares that is the lesser of (i) six million five hundred thousand (6,500,000) Common Stock
shares, or (ii) the number of Common Stock shares which when added to the number of Common Stock shares issued and outstanding at the time of closing of the Initial Public Offering (as so aggregated, the “Fully Diluted Shares”) equals
10% of such Fully Diluted Shares. Stock issued or to be issued under the Plan shall be authorized but unissued shares; or, to the extent permitted by applicable law, issued shares that have been reacquired by the Company. 
  

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	 	4.2.	Adjustments in Authorized Shares. 

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

	 	4.3.	Share Usage. 

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

	5.	EFFECTIVE DATE, DURATION AND AMENDMENTS 

  

	 	5.1.	Effective Date. 

 The Plan shall be effective as of
the Effective Date, subject to approval of the Plan by the Company’s stockholders within one year of the Effective Date. Upon approval of the Plan by the stockholders of the Company as set forth above, all Awards made under the Plan on or after
the Effective Date shall be fully effective as if the stockholders of the Company had approved the Plan on the Effective Date. If the stockholders fail to approve the Plan within one year of the Effective Date, any Awards made hereunder shall be
null and void and of no effect. 
  

	 	5.2.	Term. 

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

	 	5.3.	Amendment and Termination of the Plan. 

 The Board
may, at any time and from time to time, amend, suspend, or terminate the Plan as to any shares of Stock as to which Awards have not been made. An amendment shall be contingent on approval of the Company’s stockholders to the extent 

  

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stated by the Board, required by applicable law or required by applicable stock exchange listing requirements. No Awards shall be made after termination of
the Plan. No amendment, suspension, or termination of the Plan shall, without the consent of the Grantee, impair rights or obligations under any Award theretofore awarded under the Plan. 
  

	6.	AWARD ELIGIBILITY AND LIMITATIONS 

  

	 	6.1.	Service Providers and Other Persons. 

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

	 	6.2.	Successive Awards and Substitute Awards. 

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

  

	 	6.3.	Limitation on Shares of Stock Subject to Awards. 

 During any time when the Company has a class of equity security registered under Section 12 of the Exchange Act and the transition period under Treasury Reg. section 1.162-27(f)(2) has lapsed or does not apply: 
 (i) the maximum number of shares of Stock subject to Options or SARs that can be awarded under the Plan to any person eligible for an Award under
Section 6 hereof is seven hundred and fifty thousand (750,000) per calendar year; and 
 (ii) the maximum number of shares that
can be awarded under the Plan, other than pursuant to an Option or SARs, to any person eligible for an Award under Section 6 hereof is seven hundred and fifty thousand (750,000) per calendar year. 
 The preceding limitations in this Section 6.3 are subject to adjustment as provided in Section 17 hereof. 
  

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	7.	AWARD AGREEMENT 

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

	8.	TERMS AND CONDITIONS OF OPTIONS 

  

	 	8.1.	Option Price. 

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

	 	8.2.	Vesting. 

 Subject to Sections 8.3 and
17.3 hereof, each Option granted under the Plan shall become exercisable at such times and under such conditions as shall be determined by the Board and stated in the Award Agreement. For purposes of this Section 8.2, fractional numbers
of shares of Stock subject to an Option shall be rounded down to the next nearest whole number. 
  

	 	8.3.	Term. 

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

	 	8.4.	Termination of Service. 

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

	 	8.5.	Limitations on Exercise of Option. 

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

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	 	8.6.	Method of Exercise. 

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

	 	8.7.	Rights of Holders of Options. 

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

	 	8.8.	Delivery of Stock Certificates. 

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

  

	 	8.9.	Transferability of Options. 

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

	 	8.10.	 Family Transfers. 

 If authorized in the
applicable Award Agreement, a Grantee may transfer, not for value, all or part of an Option which is not an Incentive Stock Option to any Family Member. For the purpose of this Section 8.10, a “not for value” transfer is a
transfer which is (i) a gift, (ii) a transfer under a domestic relations order in settlement of marital property rights; or (iii) a transfer to an entity in which more than fifty percent of the voting 

  

 - 12 - 

 
interests are owned by Family Members (or the Grantee) in exchange for an interest in that entity. Following a transfer under this Section 8.10,
any such Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer. Subsequent transfers of transferred Options are prohibited except to Family Members of the original Grantee in accordance
with this Section 8.10 or by will or the laws of descent and distribution. The events of termination of Service of Section 8.4 hereof shall continue to be applied with respect to the original Grantee, following which the Option
shall be exercisable by the transferee only to the extent, and for the periods specified, in Section 8.4. 
  

	 	8.11. 	Limitations on Incentive Stock Options. 

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

	 	8.12. 	Notice of Disqualifying Disposition. 

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

	9.	TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS 

  

	 	9.1.	Right to Payment and Grant Price. 

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

	 	9.2.	Other Terms. 

 The Board shall determine at the date
of grant or thereafter, the time or times at which and the circumstances under which an SAR may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at which
SARs shall cease to be or become exercisable following 

  

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termination of Service or upon other conditions, the method of exercise, method of settlement, form of consideration payable in settlement, method by or
forms in which Stock will be delivered or deemed to be delivered to Grantees, whether or not an SAR shall be in tandem or in combination with any other Award, and any other terms and conditions of any SAR. 
  

	 	9.3.	Term. 

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

	 	9.4.	Transferability of SARS. 

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

	 	9.5.	Family Transfers. 

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

	10.	TERMS AND CONDITIONS OF RESTRICTED STOCK AND STOCK UNITS 

  

	 	10.1.	 Grant of Restricted Stock or Stock Units. 

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

	 	10.2.	 Restrictions. 

 At the time a grant of
Restricted Stock or Stock Units is made, the Board may, in its sole discretion, establish a period of time (a “restricted period”) applicable to such Restricted Stock or Stock Units. Each Award of Restricted Stock or Stock Units may be
subject to a different restricted period. The Board may, in its sole discretion, at the time a grant of Restricted Stock or Stock Units is made, prescribe restrictions in addition to or other than the expiration of the restricted period, including
the satisfaction of corporate or individual 

  

 - 14 - 

 
performance objectives, which may be applicable to all or any portion of the Restricted Stock or Stock Units as described in Article 14. Neither
Restricted Stock nor Stock Units may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of during the restricted period or prior to the satisfaction of any other restrictions prescribed by the Board with respect to such
Restricted Stock or Stock Units. 
  

	 	10.3.	 Restricted Stock Certificates. 

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

	 	10.4.	 Rights of Holders of Restricted Stock. 

 Unless the Board otherwise provides in an Award Agreement, holders of Restricted Stock shall have the right to vote such Stock and the right to receive any dividends declared or paid with respect to such Stock. The Board may provide that
any dividends paid on Restricted Stock must be reinvested in shares of Stock, which may or may not be subject to the same vesting conditions and restrictions applicable to such Restricted Stock. All distributions, if any, received by a Grantee with
respect to Restricted Stock as a result of any stock split, stock dividend, combination of shares, or other similar transaction shall be subject to the restrictions applicable to the original Grant. 
  

	 	10.5.	 Rights of Holders of Stock Units. 

  

	 	10.5.1.	 Voting and Dividend Rights. 

 Holders of
Stock Units shall have no rights as stockholders of the Company. The Board may provide in an Award Agreement evidencing a grant of Stock Units that the holder of such Stock Units shall be entitled to receive, upon the Company’s payment of a
cash dividend on its outstanding Stock, a cash payment for each Stock Unit held equal to the per-share dividend paid on the Stock. Such Award Agreement may also provide that such cash payment will be deemed reinvested in additional Stock Units at a
price per unit equal to the Fair Market Value of a share of Stock on the date that such dividend is paid. 
  

	 	10.5.2.	 Creditor’s Rights. 

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

 - 15 - 

	 	10.6.	 Termination of Service. 

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

	 	10.7. 	Purchase of Restricted Stock. 

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

	 	10.8.	 Delivery of Stock. 

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

	11.	TERMS AND CONDITIONS OF UNRESTRICTED STOCK AWARDS 

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

	12.	FORM OF PAYMENT FOR OPTIONS AND RESTRICTED STOCK 

  

	 	12.1.	 General Rule. 

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

 - 16 - 

	 	12.2.	 Surrender of Stock. 

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

	 	12.3.	 Cashless Exercise. 

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

	 	12.4.	 Other Forms of Payment. 

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

  

	13.	TERMS AND CONDITIONS OF DIVIDEND EQUIVALENT RIGHTS 

  

	 	13.1.	 Dividend Equivalent Rights. 

 A Dividend
Equivalent Right is an Award entitling the recipient to receive credits based on cash distributions that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other award to which it relates) if such shares had
been issued to and held by the recipient. A Dividend Equivalent Right may be granted hereunder to any Grantee. The terms and conditions of Dividend Equivalent Rights shall be specified in the grant. Dividend equivalents credited to the holder of a
Dividend Equivalent Right may be paid currently or may be deemed to be reinvested in additional shares of Stock, which may thereafter accrue additional equivalents. Any such reinvestment shall be at Fair Market Value on the date of reinvestment.
Dividend Equivalent Rights may be settled in cash or Stock or a combination thereof, in a single installment or installments, all determined in the sole discretion of the Board. A Dividend Equivalent Right granted as a component of another Award may
provide that such Dividend Equivalent Right shall be settled upon exercise, settlement, or payment of, or lapse of restrictions on, such other award, and that such Dividend Equivalent Right shall expire or be forfeited or annulled under the same
conditions as such other award. A Dividend Equivalent Right granted as a component of another Award may also contain terms and conditions different from such other award. 
  

 - 17 - 

	 	13.2.	 Termination of Service. 

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

	14.	TERMS AND CONDITIONS OF PERFORMANCE SHARES, PERFORMANCE UNITS, PERFORMANCE AWARDS AND ANNUAL INCENTIVE AWARDS 

  

	 	14.1.	 Grant of Performance Units/Performance Shares. 

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

  

	 	14.2.	 Value of Performance Units/Performance Shares. 

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

	 	14.3.	 Earning of Performance Units/Performance Shares.

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

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

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

 - 18 - 

	 	14.5.	 Performance Conditions. 

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

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

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

	 	14.6.1.	 Performance Goals Generally. 

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

	 	14.6.2.	 Timing For Establishing Performance Goals. 

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

	 	14.6.3.	 Settlement of Awards; Other Terms. 

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

 - 19 - 

	 	14.6.4.	 Performance Measures.

 The performance goals
upon which the payment or vesting of an Award to a Covered Employee that is intended to qualify as Performance-Based Compensation shall be limited to the following Performance Measures: 
 (a) net earnings or net income; 
 (b)
operating earnings; 
 (c) pretax earnings; 
 (d) earnings per share; 
 (e) share price, including growth measures and total stockholder return;

 (f) earnings before interest and taxes; 
 (g) earnings before interest, taxes, depreciation and/or amortization; 
 (h) sales or revenue growth, whether
in general, by type of product or service, or by type of customer; 
 (i) gross or operating margins; 
 (j) return measures, including return on assets, capital, investment, equity, sales or revenue; 
 (k) cash flow, including operating cash flow, free cash flow, cash flow return on equity and cash flow return on investment; 
 (l) productivity ratios; 
 (m) expense
targets; 
 (n) market share; 
 (o) financial ratios as provided in credit agreements of the Company and its subsidiaries; 
 (p) working capital targets;

 (q) completion of acquisitions of business or companies; 
 (r) completion of divestitures and asset sales; and 
 (s) any combination of any of the foregoing business
criteria. 
 Any Performance Measure(s) may be used to measure the performance of the Company, Subsidiary, and/or Affiliate as a whole or any
business unit of the Company, Subsidiary, and/or Affiliate or any combination thereof, as the Committee may deem 

  

 - 20 - 

 
appropriate, or any of the above Performance Measures as compared to the performance of a group of comparator companies, or published or special index that
the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Measure (f) above as compared to various stock market indices. The Committee also has the authority to provide for accelerated vesting of any Award
based on the achievement of performance goals pursuant to the Performance Measures specified in this Section 14. 
  

	 	14.6.5.	 Evaluation of Performance.

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

	 	14.6.6.	 Adjustment of Performance-Based Compensation.

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

	 	14.6.7.	 Board Discretion.

 In the event that
applicable tax and/or securities laws change to permit Board discretion to alter the governing Performance Measures without obtaining shareholder approval of such changes, the Board shall have sole discretion to make such changes without obtaining
shareholder approval provided the exercise of such discretion does not violate Code Section 409A. In addition, in the event that the Committee determines that it is advisable to grant Awards that shall not qualify as Performance-Based
Compensation, the Committee may make such grants without satisfying the requirements of Code Section 162(m) and base vesting on Performance Measures other than those set forth in Section 14.6.4. 
  

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

 It is the intent of the Company that Awards under Section 14.6 hereof granted to persons who are designated by the Committee as likely to be Covered Employees within the meaning of Code Section 162(m)
and regulations thereunder shall, if so designated by the Committee, constitute “qualified performance-based compensation” within the meaning of Code Section 162(m) and regulations thereunder. Accordingly, the terms of
Section 14.6, including the 

  

 - 21 - 

 
definitions of Covered Employee and other terms used therein, shall be interpreted in a manner consistent with Code Section 162(m) and regulations
thereunder. The foregoing notwithstanding, because the Committee cannot determine with certainty whether a given Grantee will be a Covered Employee with respect to a fiscal year that has not yet been completed, the term Covered Employee as used
herein shall mean only a person designated by the Committee, at the time of grant of an Award, as likely to be a Covered Employee with respect to that fiscal year. If any provision of the Plan or any agreement relating to such Awards does not comply
or is inconsistent with the requirements of Code Section 162(m) or regulations thereunder, such provision shall be construed or deemed amended to the extent necessary to conform to such requirements. 
  

	15.	PARACHUTE LIMITATIONS 

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

  

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	16.	REQUIREMENTS OF LAW 

  

	 	16.1.	 General. 

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

	 	16.2.	 Rule 16b-3. 

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

 - 23 - 

	17.	EFFECT OF CHANGES IN CAPITALIZATION 

  

	 	17.1.	 Changes in Stock. 

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

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

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

 - 24 - 

	 	17.3.	 Corporate Transaction. 

 Subject to the
exceptions set forth in the second to last sentence of this Section 17.3 and the last sentence of Section 17.4, upon the occurrence of a Corporate Transaction:  
 (i) all outstanding shares of Restricted Stock shall be deemed to have vested, and all Stock Units shall be deemed to have vested and the
shares of Stock subject thereto shall be delivered, immediately prior to the occurrence of such Corporate Transaction, and 
 (ii) either of the following two actions shall be taken: 
 (A) fifteen days prior to the scheduled consummation of a
Corporate Transaction, all Options and SARs outstanding hereunder shall become immediately exercisable and shall remain exercisable for a period of fifteen days, or 
 (B) the Board may elect, in its sole discretion, to cancel any outstanding Awards of Options, Restricted Stock, Stock Units, and/or SARs
and pay or deliver, or cause to be paid or delivered, to the holder thereof an amount in cash or securities having a value (as determined by the Board acting in good faith), in the case of Restricted Stock or Stock Units, equal to the formula or
fixed price per share paid to holders of shares of Stock and, in the case of Options or SARs, equal to the product of the number of shares of Stock subject to the Option or SAR (the “Award Shares”) multiplied by the amount, if any, by
which (I) the formula or fixed price per share paid to holders of shares of Stock pursuant to such transaction exceeds (II) the Option Price or SAR Exercise Price applicable to such Award Shares. 
 With respect to the Company’s establishment of an exercise window, (i) any exercise of an Option or SAR during such fifteen-day period shall be
conditioned upon the consummation of the event and shall be effective only immediately before the consummation of the event, and (ii) upon consummation of any Corporate Transaction, the Plan and all outstanding but unexercised Options and SARs
shall terminate. The Board shall send written notice of an event that will result in such a termination to all individuals who hold Options and SARs not later than the time at which the Company gives notice thereof to its stockholders. This
Section 17.3 shall not apply to any Corporate Transaction to the extent that provision is made in writing in connection with such Corporate Transaction for the assumption or continuation of the Options, SARs, Stock Units and Restricted
Stock theretofore granted, or for the substitution for such Options, SARs, Stock Units and Restricted Stock for new common stock options and stock appreciation rights and new common stock units and restricted stock relating to the stock of a
successor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number of shares (disregarding any consideration that is not common stock) and option and stock appreciation right exercise prices, in which event the Plan,
Options, SARs, Stock Units and Restricted Stock theretofore granted shall continue in the manner and under the terms so provided. In the event a Grantee’s Award is assumed, continued or substituted 

  

 - 25 - 

 
upon the consummation of any Corporate Transaction and his employment is terminated without Cause within one year following the consummation of such
Corporate Transaction, the Grantee’s Award will be fully vested and may be exercised in full, to the extent applicable, beginning on the date of such termination and for the one-year period immediately following such termination or for such
longer period as the Committee shall determine. 
  

	 	17.4.	 Adjustments. 

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

	 	17.5.	 No Limitations on Company. 

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

	18.	GENERAL PROVISIONS 

  

	 	18.1.	 Disclaimer of Rights. 

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

 - 26 - 

	 	18.2.	 Nonexclusivity of the Plan. 

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

	 	18.3.	 Withholding Taxes. 

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

	 	18.4.	 Captions. 

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

 - 27 - 

	 	18.5.	 Other Provisions. 

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

	 	18.6.	 Number and Gender. 

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

	 	18.7.	 Severability. 

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

	 	18.8.	 Governing Law. 

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

	 	18.9.	 Section 409A of the Code. 

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

 - 28 - 

 To record adoption of the Plan by the Board as of
                 , 2008, and approval of the Plan by the stockholders on             
    , 2008, the Company has caused its authorized officer to execute the Plan. 
  

			
	COLFAX CORPORATION
		
	By:	 	 
	Title:	 	 
		 	 

  

 - 29 -EXHIBIT 10.5

 COLFAX CORPORATION 
 AMENDED AND RESTATED EXCESS BENEFIT PLAN 
 Effective January 1, 2008 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	ARTICLE 1	 	DEFINITIONS	  	1
			
	ARTICLE 2	 	SELECTION, ENROLLMENT, ELIGIBILITY	  	6
			
	ARTICLE 3	 	DEFERRAL ELECTIONS	  	6
			
	ARTICLE 4	 	SHORT-TERM PAYOUT; UNFORESEEABLE FINANCIAL EMERGENCIES	  	12
			
	ARTICLE 5	 	BENEFITS	  	13
			
	ARTICLE 6	 	BENEFICIARY DESIGNATION	  	15
			
	ARTICLE 7	 	LEAVE OF ABSENCE	  	16
			
	ARTICLE 8	 	TERMINATION, AMENDMENT OR MODIFICATION	  	16
			
	ARTICLE 9	 	ADMINISTRATION	  	17
			
	ARTICLE 10	 	OTHER BENEFITS AND AGREEMENTS	  	18
			
	ARTICLE 11	 	CLAIMS PROCEDURES	  	18
			
	ARTICLE 12	 	TRUST	  	19
			
	ARTICLE 13	 	MISCELLANEOUS	  	20
		
	 APPENDIX A     LIMITED TRANSITION RELIEF FOR DISTRIBUTION ELECTIONS MADE AVAILABLE IN ACCORDANCE
WITH NOTICE 2006-79 AND NOTICE 2007-86
	  	24

  

 -i- 

 COLFAX CORPORATION 
 AMENDED AND RESTATED EXCESS BENEFIT PLAN 
 Effective January 1, 2008 
 Purpose 
 This Colfax
Corporation Amended and Restated Excess Benefit Plan (the “Plan”) is established to provide specified benefits to a select group of management and highly compensated Employees of Colfax Corporation and its Affiliates for the purpose of
providing maximum compensation deferrals, matching contributions and a three percent (3%) company contribution to enhance retirement savings. The Plan was originally adopted effective December 1, 2005 with respect to pay received on or
after January 1, 2006. This amended and restated Plan is hereby adopted effective January 1, 2008, with respect to pay received on or after January 1, 2008. The amended and restated Plan includes certain changes required to comply
with the final regulations promulgated under Section 409A of the Code, which changes are retroactively effective as of December 1, 2005 with respect to pay received on or after January 1, 2006. In addition, the Plan has been amended
to clarify that employees of Affiliates may receive benefits under the Plan. The Plan is intended to provide benefits similar, but in addition, to benefits under the Colfax Corporation 401(k) Savings Plan Plus (the “401(k) Plan”). The Plan
shall be unfunded for tax purposes and for purposes of Title I of ERISA. 
 This Plan is intended to comply with all applicable law,
including Code Section 409A and related Treasury guidance and Regulations, and shall be operated and interpreted in accordance with this intention. In order to transition to the requirements of Code Section 409A and related Treasury
Regulations, the Company may make available to Participants certain transition relief, including under I.R.S. Notice 2006-79 and I.R.S. Notice 2007-86, as described more fully in Appendix A of this Plan. 
 ARTICLE 1 
 Definitions 

 For purposes of the Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following
indicated meanings: 
  

	1.1	“Account Balance” shall mean, with respect to a Participant, a credit on the records of the Company equal to the sum of (i) the Deferral Account balance
(ii) the Three Percent Company Contribution Account balance and (iii) the Company Matching Contribution Account balance. The Account Balance, and each other specified account balance, shall be a bookkeeping entry only and shall be utilized
solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her Beneficiary, pursuant to the Plan. 

  

	1.2	 “Affiliate” means any person with whom the Company would be considered a single employer under Code Sections 414(b) or (c) so as to fall
within the definition of “service 

  

 -1- 

	 	 
recipient” in Treasury Regulations section 1.409A-1(g). For purposes of determining a Separation from Service, the definition of Affiliate shall take
into account the modifications specified in Treasury Regulations section 1.409A-1(h)(3). 

  

	1.3	“Annual Installment Method” shall be an annual installment payment over the number of years selected by the Participant in accordance with the Plan, calculated as
follows: (i) for the first annual installment, the vested Account Balance of the Participant shall be calculated as of the close of business on or around the last business day of the month preceding the month in which distribution commences,
and (ii) for remaining annual installments, the vested Account Balance of the Participant shall be calculated on or around each applicable anniversary date thereafter. Each annual installment shall be calculated by multiplying this balance by a
fraction, the numerator of which is one and the denominator of which is the remaining number of annual payments due the Participant. By way of example, if the Participant elects a ten (10) year Annual Installment Method, the first payment shall
be 1/10 of the vested Account Balance, calculated as described in this definition. The following year, the payment shall be 1/9 of the vested Account Balance, calculated as described in this definition. 

  

	1.4	“Beneficiary” shall mean the person or persons, designated in accordance with Article 6, that are entitled to receive benefits under the Plan upon the death of
a Participant. 

  

	1.5	“Beneficiary Designation Form” shall mean the form established from time to time by the Company that a Participant completes, signs and returns to the Company to
designate one or more Beneficiaries. 

  

	1.6	“Bonus Compensation” shall mean, with respect to a Participant, (i) the Participant’s annual incentive bonus payable during the calendar year with respect
to services as an Employee during the prior year or (ii) the Participant’s long-term incentive bonus, if applicable, payable during the calendar year with respect to services as an Employee during a prior period longer than a year.

  

	1.7	“Change in Control” shall mean an event that constitutes a “change in control event” within the meaning of Treasury Regulations §1.409A-3(i)(5) and
in accordance with the default rules thereunder. 

  

	1.8	“Code” shall mean the Internal Revenue Code of 1986, as it may be amended from time to time. 

  

	1.9	“Company” shall mean Colfax Corporation, a Delaware corporation, and any successor to all or substantially all of the Company’s assets or business.

  

	1.10	“Company Matching Contribution Account” shall mean Company Matching Contribution Amounts, plus (i) amounts credited in accordance with all the applicable
crediting provisions of the Plan that relate to the Participant’s Company Matching Contribution Account, less (ii) all distributions made to the Participant or his or her Beneficiary pursuant to the Plan that relate to the
Participant’s Company Matching Contribution Account. 

  

 -2- 

	1.11	“Company Matching Contribution Amount” shall mean, with respect to each Plan Year, the Company’s contribution to a Participant’s Company Matching
Contribution Account equal to the amount determined by applying the rate of matching contribution applied under the 401(k) Plan to the Participant’s Total Deferral Amount under the Plan for such year, and reducing that amount by the matching
contribution to be credited to the Participant under the 401(k) Plan. Notwithstanding any provision to the contrary herein, the Company reserves the right to adjust the rate of matching contribution to be applied under the Plan for subsequent years,
without notice. 

  

	1.12	“Compensation” shall be defined in the same manner as it is under Article 1.1, “Compensation,” in the 401(k) Plan, but excluding any Bonus Compensation.

  

	1.13	“Deferral Account” shall mean (i) the sum of all of a Participant’s Net Deferral Amounts, plus (ii) amounts credited in accordance with all the
applicable crediting provisions of the Plan that relate to the Participant’s Deferral Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to the Plan that relate to his or her Deferral Account.

  

	1.14	“Disability Benefit” shall mean the benefit set forth in Section 5.3. 

  

	1.15	“Disabled” shall mean a Participant can no longer continue in the service of his of her employer because of a mental or physical condition that is likely to result
in death or is expected to continue for a period of at least twelve (12) months. A Participant shall be considered Disabled only if he or she meets one or more of the following criteria: 

  

	 	(a)	He or she is eligible to receive a disability benefit under the terms of the Social Security Act. 

  

	 	(b)	He or she is eligible to receive a benefit under his or her employer’s long term disability plan. 

  

	 	(c)	The Company determines based on a written certificate of a physician acceptable to it that he or she is Disabled and, as a result, unable to engage in any substantial gainful
activity. 

  

	1.16	“Election Form” shall mean the form established from time to time by the Company that a Participant completes, signs and returns to the Company to make a deferral
election with respect to Compensation or Bonus Compensation under the Plan. 

  

	1.17	“Employee” shall mean a person who is an employee of the Company or its Affiliate. 

  

 -3- 

	1.18	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time to time. 

  

	1.19	“401(k) Plan” shall mean the Colfax Corporation 401(k) Savings Plan Plus. 

  

	1.20	“Key Employee” shall mean, in the event that the Company has stock which is publicly traded on an established securities market or otherwise, “key
employee” within the meaning of Code Section 409A, unless otherwise stated in this Plan. 

  

	1.21	“Net Deferral Amount” shall have the meaning set forth in Section 3.3. 

  

	1.22	“Participant” shall mean any Employee (i) who is selected to participate in the Plan, (ii) who elects to participate in the Plan, (iii) who signs an
Election Form and a Beneficiary Designation Form, (iv) whose signed Election Form and Beneficiary Designation Form are accepted by the Company, and (v) who commences participation in the Plan. A spouse or former spouse of a Participant
shall not be treated as a Participant in the Plan or have an account balance under the Plan, even if he or she has an interest in the Participant’s benefits under the Plan as a result of applicable law or property settlements resulting from
legal separation or divorce. 

  

	1.23	“Performance-Based Compensation” shall mean compensation the entitlement to which or amount of which is contingent on the satisfaction of pre-established
organizational or individual performance criteria relating to a performance period of at least 12 consecutive months, as determined by the Company in accordance with Treasury Regulations §1.409A-1(e). For this purpose, organizational or
individual performance criteria are considered pre-established if established in writing by not later than 90 days after the commencement of the period of service to which the criteria relates, provided that the outcome is substantially uncertain at
the time the criteria are established. 

  

	1.24	“Plan” shall mean the Colfax Corporation Amended and Restated Excess Benefit Plan, as amended from time to time. 

  

	1.25	“Plan Benefit” shall mean the benefit set forth in Section 5.1. 

  

	1.26	“Plan Year” shall mean a period beginning on January 1 of each calendar year and continuing through December 31 of such calendar year.

  

	1.27	“Pre-Retirement Survivor Benefit” shall mean the benefit set forth in Section 5.2. 

  

	1.28	“Regular Separation from Service” means a Separation from Service for a reason other than death or becoming Disabled. 

  

	1.29	 “Separation from Service” means a “separation from service” within the meaning of Treasury Regulations §1.409A-1(h) and in
accordance with the default rules thereunder, which includes termination of a Participant’s employment with the Company or its 

  

 -4- 

	 	 
Affiliate, whether voluntarily or involuntarily, by reason of death, retirement, becoming Disabled, resignation or discharge. Transfer to employment with an
Affiliate shall not be treated as a Separation from Service. 

  

	1.30	“Short-Term Payout” shall mean the payout set forth in Section 4.1. 

  

	1.31	“Termination Date” means the date the Participant has a Separation from Service. 

  

	1.32	“Three Percent Company Contribution Account” shall mean Three Percent Company Contribution Amounts, plus (i) amounts credited in accordance with all the
applicable crediting provisions of the Plan that relate to the Participant’s Three Percent Company Contribution Account, less (ii) all distributions made to the Participant or his or her Beneficiary pursuant to the Plan that relate to the
Participant’s Three Percent Company Contribution Account. 

  

	1.33	“Three Percent Company Contribution Amount” shall mean, with respect to each Plan Year, the Company’s contribution to a Participant’s Three Percent Company
Contribution Account equal to (i) three percent (3%) of the amount of the Participant’s Compensation and Bonus Compensation payable during such year, minus (ii) the amount credited for the year to the Participant’s account
under Article VI of the 401(k) Plan as a non-elective employer contribution. 

  

	1.34	“Total Deferral Amount” shall mean that portion of a Participant’s Compensation and Bonus Compensation, if any, that a Participant elects to have deferred
under the Plan and the 401(k) Plan for any one Plan Year. The Total Deferral Amount shall equal the sum of all amounts of Compensation and Bonus Compensation to be deferred under the Plan and the 401(k) Plan for a Plan Year.

  

	1.35	“Trust” shall mean one or more rabbi trusts established by the Company in accordance with Article 12 of the Plan as amended from time to time.

  

	1.36	“Unforeseeable Financial Emergency” shall mean a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the
Participant’s spouse, the Participant’s beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to subsections 152(b)(1), (b)(2), and (d)(1)(B)); loss of the Participant’s property due to
casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.

  

 -5- 

 ARTICLE 2 
 Selection, Enrollment, Eligibility 
  

	2.1	Selection by Company. Participation in the Plan shall be limited to those Employees who (i) are officers or other select managerial employees and
(ii) are, upon recommendation of the Company, approved for such participation by the Company, in its sole discretion. 

  

	2.2	Enrollment Requirements. As a condition to participation, each selected Employee shall complete, execute and return to the Company, an Election Form and a Beneficiary
Designation Form, all within 30 days (or such shorter time as the Company may determine) after he or she is selected to participate in the Plan, in accordance with the requirements of this Article 2 and Section 3.1(a). In addition, the Company
shall establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary. 

  

	2.3	Eligibility; Commencement of Participation. Provided an Employee selected to participate in the Plan has met all enrollment requirements set forth in the Plan and
required by the Company, including returning all required documents to the Company within thirty (30) days (or such shorter time as the Company may determine) after he or she is selected to participate in the Plan, in accordance with the
requirements of this Article 2 and Section 3.1(a), that Employee shall commence participation in the Plan on the first day of the month following the month in which the Employee completes all enrollment requirements. If an Employee fails to
meet all such requirements within the period required, that Employee shall not be eligible to participate in the Plan until the first day of the Plan Year following the delivery to and acceptance by the Company of the required documents.

  

	2.4	Termination of Deferrals. If the Company determines in good faith that a Participant no longer qualifies as a member of a select group of management or highly
compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Company shall have the right, in its sole discretion, to prevent the Participant from making
deferral elections for future calendar years. For the avoidance of doubt, any such action by the Company shall have no effect on the Participant’s deferral election for the current calendar year, which election shall remain irrevocable.

 ARTICLE 3 
 Deferral Elections 
  

	3.1	Elections to Defer Compensation. 

  

	 	(a)	 Deferral Election for Compensation. In connection with a Participant’s commencement of participation in the Plan, a Participant may elect to
defer Compensation by filing with the Company an Election Form that conforms with the 

  

 -6- 

	 	 
requirements of Article 2 within the time period specified in Section 2.3. If a Participant does not make a deferral election with respect to the first
Plan Year with respect to which the Participant is eligible to participate in the Plan, the Participant may elect to defer Compensation for any subsequent Plan year by filing with the Company an Election Form that conforms with the requirements of
Article 2 before the start of that Plan Year. 

  

	 	(b)	Amount of Deferral. Subject to Section 3.3, the amount of Compensation that a Participant may elect to defer is such Compensation received after the date on which
the deferral election is effective, and may be an integral percentage, as selected by the Participant, which shall not exceed fifty percent (50%) of the Participant’s Compensation; provided that the total amount deferred by a Participant
shall be limited in any calendar year, if necessary, to satisfy FICA, income tax, and employee benefit plan withholding requirements as determined in the sole and absolute discretion of the Company. 

  

	 	(c)	Duration of Compensation Deferral Election. A Participant’s election to defer Compensation is effective only with respect to Compensation earned after the date on
which the election is effective and is irrevocable with respect to Compensation earned in the Plan Year for which the election is made. A Participant’s election to defer Compensation shall remain in effect for subsequent Plan Years until the
election is changed or revoked. A Participant may change or revoke a deferral election for any subsequent Plan Year by filing a new Election Form with the Company prior to the beginning of such Plan Year, at such time as the Company may require,
which election shall be effective on the first day of the next following Plan Year. 

  

	3.2	Elections to Defer Bonus Compensation. Subject to Section 3.3, in connection with a Participant’s commencement of participation in the Plan, and subject to
the final sentence of this Section 3.2, a Participant may elect to defer up to fifty percent (50%) of his or her Bonus Compensation payable during a calendar year, by completing and filing an Election Form with the Company during the
enrollment period established by the Company for deferral of that Bonus Compensation; provided that the total amount deferred by a Participant shall be limited in any calendar year, if necessary, to satisfy FICA, income tax, and employee benefit
plan withholding requirements as determined in the sole and absolute discretion of the Company. For any Bonus Compensation that is Performance-Based Compensation, the enrollment period shall end no later than six (6) months prior to the end of
the performance measurement period and, to the extent required by Code Section 409A, deferral elections for Bonus Compensation that is not Performance-Based Compensation shall be made no later than the year prior to the year in which the
services relating to the Bonus Compensation are performed. 

 A Bonus Compensation deferral election made by a Participant shall
become irrevocable as of the close of the enrollment period applicable to such Bonus Compensation and established by the Company in accordance with the preceding paragraph. The Bonus 

  

 -7- 

 
Compensation deferral election may be revoked in writing up to the end of the applicable enrollment period by completing and submitting a revocation prior to
the enrollment-period close. 
  

	3.3	Net Deferral Amount. Notwithstanding anything to the contrary in this Article 3, the actual amount that will be deferred from a Participant’s Compensation and
Bonus Compensation, if any, under the Plan in any Plan Year is the Participant’s Net Deferral Amount. The Net Deferral Amount for any Plan Year shall be equal to the Total Deferral Amount that a Participant elects to defer for such year,
reduced by the amount of elective deferrals credited to the Participant’s account under the 401(k) Plan for such year. In the event of a Participant’s Separation from Service prior to the end of a Plan Year, such year’s Net Deferral
Amount shall be the actual amount withheld prior to such event. 

  

	3.4	Withholding of Net Deferral Amounts. For each Plan Year, the Net Deferral Amount shall be withheld from each regularly scheduled payroll in equal amounts, as adjusted
from time to time for increases and decreases in Compensation, and from each payment of Bonus Compensation for which an Election Form has been filed with the Company. In accordance with Sections 3.1 and 3.2, a Participant must complete separate
Election Forms for the deferral of Compensation and Bonus Compensation, except with respect to amounts payable in 2006 through 2009, for which separate elections for the deferral of Compensation and Bonus Compensation may be made, in the
Company’s sole discretion, on the same Election Form, or as otherwise provided by the Company. 

  

	3.5	Annual Company Contributions. For each Plan Year, the Company will credit (a) each Participant’s Company Matching Contribution Account with the Company
Matching Contribution Amount and (b) each Participant’s Three Percent Company Contribution Account with the Three Percent Company Contribution Amount. 

  

	3.6	Vesting. 

  

	 	(a)	A Participant shall at all times be 100% vested in his or her Deferral Account. 

  

	 	(b)	A Participant’s benefit under his or her Three Percent Company Contribution Account shall at all times be 100% vested. 

  

	 	(c)	A Participant’s benefit under his or her Company Matching Contribution Account shall vest in accordance with the following schedule based on his or her years of vesting service
under the 401(k) Plan: 

  

			
	 Years of Vesting Service
	  	Vested Percentage
	 Less than 2
	  	0%
	 At least 2, but less than 3
	  	20%
	 At least 3, but less than 4
	  	40%
	 At least 4, but less than 5
	  	60%
	 5 or more
	  	100%

  

 -8- 

 However, if a Participant was hired on or before February 28, 1999, his or her vested interest in
his or her Company Matching Contribution Account shall be at all times 100%. 
  

	 	(d)	Notwithstanding the foregoing, if a Participant is employed by the Company on his or her Normal Retirement Date as defined under the 401(k) Plan, the date he or she becomes
Disabled, or the date he or she dies, his or her vested interest in his or her Company Matching Contribution Account shall be 100%. 

  

	 	(e)	Notwithstanding anything to the contrary contained in this Section, in the event of a Change in Control, a Participant’s Company Matching Contribution Account shall immediately
become 100% vested (if not already vested in accordance with the above vesting schedule). 

  

	 	(f)	Notwithstanding the previous subsections, the vesting schedule for a Participant’s Company Matching Contribution Account shall not be accelerated to the extent that the Company
determines that such acceleration would cause the deduction limitations of Code Section 280G to become effective. In the event that all of a Participant’s Company Matching Contribution Account is not vested pursuant to such a
determination, the Participant may request independent verification of the Company’s calculations with respect to the application of Code Section 280G. In such case, the Company must provide to the Participant within fifteen
(15) business days of such a request an opinion from a nationally recognized accounting firm selected by the Participant (the “Accounting Firm”). If the Accounting Firm’s opinion is in agreement with the Company’s
determination, the opinion shall state that any limitation in the vested percentage hereunder is necessary to avoid the limits of Code Section 280G and contain supporting calculations. The cost of such opinion shall be paid for by the Company.
Notwithstanding any provision to the contrary, this Section 3.6(f) shall not supersede any employment or other agreement between the Company and a Participant regarding the effect of Code Section 280G on the Participant’s Company
Matching Contribution Account. 

  

	3.7	Deferral Accounts and Company Contribution Accounts. The Company shall establish a Deferral Account, a Three Percent Company Contribution Account and a Company
Matching Contribution Account for each Participant under the Plan. Each Participant’s Deferral Account, Three Percent Company Contribution Account and Company Matching Contribution Account shall be further divided into separate subaccounts
(“investment fund subaccounts”), each of which corresponds to an investment fund elected by the Participant. A Participant’s Deferral Account, Three Percent Company Contribution Account and Company Matching Contribution Account shall
be credited as follows: 

  

 -9- 

	 	(a)	After amounts are withheld and deferred from a Participant’s Compensation and/or Bonus Compensation, the Company shall credit the investment fund subaccounts of the
Participant’s Deferral Account with an amount equal to the amount of Compensation and/or Bonus Compensation deferred by the Participant as of the date that the Compensation or Bonus Compensation would have been paid to the Participant, and the
portion of the Participant’s deferred Compensation and/or Bonus Compensation that the Participant has deemed to be invested in a certain type of investment fund shall be credited to the investment fund subaccount corresponding to that
investment fund. 

  

	 	(b)	The Company shall credit the investment fund subaccounts of the Participant’s Three Percent Company Contribution Account and Company Matching Contribution Account with the
amounts equal to the Three Percent Company Contribution Amount and Company Matching Contribution Amount, respectively, if any, for that Participant, on the date or dates to be determined by the Company in its sole discretion, and the portion of such
amounts so credited that the Participant has deemed to be invested in a certain type of investment fund shall be credited to the investment fund subaccount corresponding to that investment fund. 

  

	 	(c)	Each business day, each of the Participant’s investment fund subaccounts shall be credited with earnings or losses in an amount equal to that determined by multiplying the
balance credited to such investment fund subaccount as of the prior day plus contributions allocated to the investment fund subaccount that day by the rate of net gain or loss for the corresponding investment fund for that day.

  

	 	(d)	Each of the Participant’s investment fund subaccounts shall be reduced pro rata by the amount of any distributions made to the Participant, as of the date of the distribution.

  

	3.8	Investment Elections. 

  

	 	(a)	The Company shall select from time to time, in its sole and absolute discretion, commercially available investment funds to be used to determine the amount of earnings or losses to
be credited to the Participant’s Plan accounts under Section 3.7. 

  

	 	(b)	 At the time of making a deferral election, a Participant shall designate, on a form provided by the Company, the investment fund or funds in which the
Participant’s Deferral Account attributable to deferrals of Compensation and/or Bonus Compensation and the Participant’s Three Percent Company Contribution Account and Company Matching Contribution Account attributable to the annual Three
Percent Company Contribution Amount and Company Matching Contribution Amount, if any, for the Plan Year to which the deferral election relates will be deemed to be invested for purposes of determining the amount of earnings or losses 

  

 -10- 

	 	 
to be allocated to that Account. The Participant may specify the deemed investment, in whole percentage increments, in one or more of the investment funds as
communicated from time to time by the Company. A Participant may change this investment designation by filing a change of election and making a new designation with the Company at such time as provided by the Company and in accordance with the
procedures established by the Company from time to time. 

  

	 	(c)	Notwithstanding any other provision of the Plan that may be interpreted to the contrary, the investment funds selected by the Company or designation of investment funds by a
Participant shall not be considered or construed in any manner as an actual investment of the Participant. In the event that the Company or the trustee of the Trust, in its sole and absolute discretion, shall invest funds in any or all of the
selected investment funds, no Participant shall have any rights in or to such investments. Without limiting the foregoing, a Participant’s Account Balance shall at all times be a bookkeeping entry only and shall not represent any investment
made on his or her behalf by the Company or the Trust; the Participant shall remain at all times an unsecured creditor of the Company. 

  

	3.9	FICA and Other Taxes. 

  

	 	(a)	Deferral Amounts. For each Plan Year in which a Net Deferral Amount is being withheld from a Participant, the Company shall withhold from that portion of the
Participant’s Compensation and Bonus Compensation that is not being deferred, in a manner determined by the Company, the Participant’s share of FICA and other employment taxes on such Net Deferral Amount. If necessary, the Company may
reduce the Net Deferral Amount in order to comply with this subsection (a). 

  

	 	(b)	Company Contributions. When a Participant becomes vested in a portion of his or her Three Percent Company Contribution Account or Company Matching Contribution
Account, the Company shall withhold from the Participant’s Compensation and Bonus Compensation that is not deferred, in a manner determined by the Company, the Participant’s share of FICA and other employment taxes. If necessary, the
Company may reduce the vested portion of the Participant’s Three Percent Company Contribution Account or Company Matching Contribution Account in order to comply with this subsection (b). 

  

	 	(c)	Distributions. The Company, or the trustee of the Trust, shall withhold from any payments made to a Participant under the Plan all federal, state and local income,
employment and other taxes required to be withheld by the Company, or the trustee of the Trust, in connection with such payments, in amounts and in a manner to be determined in the sole discretion of the Company and the trustee of the Trust.

  

 -11- 

 ARTICLE 4 
 Short-Term Payout; Unforeseeable Financial Emergencies 
  

	4.1	Short-Term Payout. In connection with each deferral election under the Plan, a Participant may elect to receive a Short-Term Payout from the Plan with respect to all
or a portion of the Net Deferral Amount. The Short-Term Payout shall be a lump sum payment in an amount that is equal to the portion of the Net Deferral Amount that the Participant elected to have distributed as a Short-Term Payout, plus amounts
credited or debited in the manner provided in Section 3.7 above on that amount, calculated as of the close of business on or around the date on which the Short-Term Payout becomes payable, as determined by the Company in its sole discretion.
Subject to the terms and conditions of the Plan, each Short-Term Payout elected shall be paid out during a sixty (60) day period commencing immediately after the last day of any Plan Year designated by the Participant. The Plan Year designated
by the Participant must be at least five (5) Plan Years after the Plan Year in which the Net Deferral Amount is actually deferred. By way of example, if a Short-Term Payout is elected for Net Deferral Amounts that are deferred in the Plan Year
commencing January 1, 2006, the Short-Term Payout would become payable during a sixty (60) day period commencing January 1, 2011. 

  

	4.2	Other Benefits Take Precedence Over Short-Term. Should an event occur that triggers a benefit under Article 5, any Net Deferral Amount, plus amounts credited or
debited thereon, that is subject to a Short-Term Payout election under Section 4.1 shall not be paid in accordance with Section 4.1 but shall be paid in accordance with Article 5. 

  

	4.3	 Payout/Cancellation for Unforeseeable Financial Emergencies. If the Participant experiences an Unforeseeable Financial Emergency, the Participant may
petition the Company to receive a partial or full payout from the Plan. The payout shall not exceed the lesser of the Participant’s vested Account Balance, calculated as if such Participant were receiving a Plan Benefit, or the amount
reasonably needed to satisfy the Unforeseeable Financial Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the payout, after taking into account the extent to which such Unforeseeable Financial Emergency is or may
be relieved through reimbursement or compensation by insurance or otherwise, by liquidation of the Participant’s assets (to the extent such liquidation would not itself cause severe financial hardship), or by cessation of deferrals under the
Plan. A Participant experiencing an Unforeseeable Financial Emergency may also petition for a cancellation of his or her deferral election in effect under the Plan. If, subject to the sole discretion of the Company, the petition for a cancellation
and/or payout is approved, cancellation shall take effect upon the date of approval and any payout shall be made within sixty (60) days of the date of approval. In the event of any such cancellation, the deferral election under the Plan made by
the Participant next following the cancellation of his or her deferral election due to an Unforeseeable Financial Emergency shall be treated as an initial deferral election with respect to Compensation earned after the date on which the election is
effective, in accordance with Treasury Regulations §1.409A-2(a) and subject to 

  

 -12- 

	 	 
the requirements of Article 3 hereunder, but shall in no event be treated as an election with respect to the first Plan Year with respect to which the
Participant is eligible to participate in the Plan. 

 ARTICLE 5 
 Benefits 
  

	5.1	Plan Benefit. A Participant who experiences a Regular Separation from Service shall receive, as the Plan benefit, the vested portion of his or her Account Balance (the
“Plan Benefit”). 

  

	 	(a)	Payment Commencement Date for a Regular Separation from Service. A Participant, in connection with his or her commencement of participation in the Plan, shall
designate on an Election Form the time as of which payment of his or her Plan Benefit is to commence in the event of a Regular Separation from Service as one of the following alternatives. The Participant either may select: 

 

	 	(1)	The last day of the month following the Participant’s Termination Date, except that, in the case of a Key Employee, that date shall be the last day of the month in which occurs
the six (6) month anniversary of his or her Termination Date; or 

  

	 	(2)	January 31 of any of the five (5) calendar years following the year that includes the Participant’s Termination Date, except that, in the case of a Key Employee, the
first payment shall be made as of the later of (x) the selected January 31, or (y) the last day of the month in which occurs the six (6) month anniversary of his or her Termination Date. 

 In addition, if a payment commencement date under this Section is not established at the time a Participant submits the initial deferral Election Form,
his or her Plan Benefit shall be paid as a lump sum as of the last day of the month in which occurs the six (6) month anniversary of the Participant’s Termination Date. 
 With respect to a Key Employee who experiences a Separation from Service, unless the Company determines otherwise in accordance with Code
Section 409A, the payments to which the Key Employee would otherwise be entitled during the period between his or her Termination Date and the payment commencement date determined in accordance with this Section 5.1(a) shall be accumulated
and paid on the payment commencement date. 
  

	 	(b)	 Form of Benefit for a Regular Separation from Service. A Participant, in connection with his or her commencement of participation in the Plan, shall
elect on an Election Form to receive the Plan Benefit with respect to the compensation deferred pursuant to such Election Form in a lump sum or pursuant to an Annual 

  

 -13- 

	 	 
Installment Method over 2 years to 10 years. If a Participant does not make any election with respect to the payment of the Plan Benefit, then such benefit
shall be payable in a lump sum. 

  

	 	(c)	Death Prior to Completion of Benefit Payment. If a Participant dies after his or her Regular Separation from Service but before the Plan Benefit is paid in full, the
Participant’s unpaid Plan Benefit payments shall continue and shall be paid to the Participant’s Beneficiary over the remaining number of years and in the same amounts as that benefit would have been paid to the Participant had the
Participant survived. 

  

	 	(d)	Small Plan Benefit. Notwithstanding any provision to the contrary in this Plan, if the vested portion of the Participant’s Account Balance at the time of his or
her Regular Separation from Service is less than $10,000, payment of his or her Plan Benefit shall be paid in a lump sum on or before the later of (i) December 31 of the calendar year in which occurs the Participant’s Separation from
Service or (ii) the date 2-1/2 months after the Participant’s Separation from Service. 

  

	5.2	Pre-Retirement Survivor Benefit. The Participant’s Beneficiary shall receive a Pre-Retirement Survivor Benefit equal to the Participant’s Account Balance if
the Participant dies before he or she experiences a Regular Separation from Service or receiving the Disability Benefit described in Section 5.3. A Participant’s Beneficiary shall receive the Pre-Retirement Survivor Benefit in a lump sum.
The lump sum payment shall be made no later than 60 days after the last day of the Plan Year in which the Company is provided with proof that is satisfactory to the Company of the Participant’s death. 

  

	5.3	Disability Benefit. A Participant who while still an Employee is deemed Disabled shall, for benefit purposes under the Plan, be deemed to have experienced a Separation
from Service as soon as practicable after such Participant is determined to be Disabled, in which case the Participant shall receive a Disability Benefit equal to the vested portion of his or her Account Balance. The Disability Benefit shall be paid
in a lump sum within sixty (60) days of the Participant’s deemed Separation from Service, or, if the Participant is a Key Employee, as of the last day of the month in which occurs the six (6) month anniversary of the date of the
Participant’s Separation from Service. 

  

	5.4	Change in Time or Form of Payment. Notwithstanding the method of payment for the Plan Benefit elected by a Participant on an Election Form with respect to the
Compensation or Bonus Compensation deferred pursuant to such Election Form, the Participant may elect to change the time or form of such payment under a subsequent election only if the following requirements are met: 

  

	 	(a)	The subsequent election may not take effect until at least twelve (12) months after the date on which the subsequent election is made. 

  

 -14- 

	 	(b)	The subsequent election may not be made less than twelve (12) months prior to the date of the first scheduled payment under the current election. 

  

	 	(c)	The first payment with respect to which the subsequent election is made must be deferred for a period of not less than five (5) years from the date such payment would otherwise
have been made. 

  

	 	(d)	The subsequent election may not accelerate the time of any payment. 

 The form of payment elected in a subsequent election also must be an election of the form and timing of payment that could have been made under Section 4.1 or Section 5.1 by the Participant at the time of
original election. For purposes of this Section 5.4, installment payments elected by a Participant under the Plan shall be treated as a single payment to be made on the payment date for the first installment payment. Notwithstanding any
provision of the Plan to the contrary, the requirements of this Section 5.4 shall be subject to the limited exception provided in Appendix A hereto. 
  

	5.5	Limitation on Key Employees. Notwithstanding any other provision of the Plan to the contrary, the payment of a Plan Benefit or Disability Benefit with respect to a
Participant who is a “key employee” within the meaning of Code Section 416(i)(1), if at that time any stock of the Company is publicly traded on an established securities market or otherwise, shall not be made within six
(6) months following his or her Separation from Service, except in the event of death. 

 ARTICLE 6 
 Beneficiary Designation 
  

	6.1	Beneficiary. Each Participant shall have the right, at any time, to designate his or her Beneficiary(ies) (both primary as well as contingent) to receive any benefits
payable under the Plan to a Beneficiary upon the death of a Participant. The Beneficiary designated under the Plan may be the same as or different from the Beneficiary designation under any other plan of the Company in which the Participant
participates. 

  

	6.2	Beneficiary Designation; Change. A Participant shall designate his or her Beneficiary by completing and signing the Beneficiary Designation Form, and returning it to
the Company. A Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Company’s rules and procedures, as in effect from time to time.
Upon the acceptance by the Company of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be canceled. The Company shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and
accepted by the Company prior to his or her death. 

  

 -15- 

	6.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received and acknowledged in writing by the Company.

  

	6.4	No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 6.1, 6.2 and 6.3 above or, if all Beneficiaries predecease
the Participant or die prior to complete distribution of the Participant’s benefits, then the Participant’s Beneficiary shall be deemed to be his or her surviving spouse. If the Participant has no surviving spouse, the benefits remaining
under the Plan to be paid to a Beneficiary shall be payable to the Participant’s estate. 

  

	6.5	Doubt as to Beneficiary. If the Company has any doubt as to the proper Beneficiary to receive payments pursuant to the Plan, the Company shall have the right,
exercisable in its discretion, to cause the Company to withhold such payments until this matter is resolved to the Company’s satisfaction. 

  

	6.6	Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge the Company from all further obligations under
the Plan with respect to the Participant. 

 ARTICLE 7 
 Leave of Absence 
  

	7.1	Paid Leave of Absence. If a Participant is authorized by the Company or its Affiliate for any reason to take a paid leave of absence from the employment of the Company
or its Affiliate (as applicable) and such leave of absence does not constitute a Separation from Service, the Participant shall continue to be considered employed by the Company or its Affiliate and the Net Deferral Amount shall continue to be
withheld during such paid leave of absence in accordance with Sections 3.1 and 3.2. 

  

	7.2	Unpaid Leave of Absence. If a Participant is authorized by the Company or its Affiliate for any reason to take an unpaid leave of absence from the employment of the
Company or its Affiliate (as applicable) and such leave of absence does not constitute a Separation from Service, the Participant shall continue to be considered employed by the Company or its Affiliate and the Participant shall be excused from
making deferrals until the Participant returns to a paid employment status. Upon such return, deferrals shall resume for the remaining portion of the Plan Year in which the return occurs, based on the deferral election, if any, made for that Plan
Year. If no election was made for that Plan Year, no deferral shall be withheld. 

 ARTICLE 8 
 Termination, Amendment or Modification 
  

	8.1	 Termination. Although the Company anticipates that it will continue the Plan for an indefinite period of time, there is no guarantee that the Company
will continue the Plan or 

  

 -16- 

	 	 
will not terminate the Plan at any time in the future. Accordingly, the Company reserves the right to terminate the Plan, in its sole discretion, in whole or
in part, and for any reason, by action of the Company. The Company may terminate the Plan with respect to the Participants employed or formerly employed by the Company, as follows: 

  

	 	(a)	Partial Termination. The Company, in its sole discretion, may partially terminate the Plan by not accepting any additional deferral elections under this Plan. If such
a partial termination occurs, the Plan shall continue to operate and be effective with regard to deferral elections properly completed and filed prior to the effective date of such partial termination. 

  

	 	(b)	Complete Termination. The Company, in its sole discretion, may completely terminate the Plan by not accepting any additional deferral elections, and by terminating all
existing Plan deferrals. In the event of complete termination, the Plan shall cease to operate and, to the extent permitted by Section 409A of the Code and subject to the rules thereunder, the Company shall distribute each vested Account
Balance to the appropriate Participant. 

  

	8.2	Amendment. The Company may, at any time, amend or modify the Plan in whole or in part by the action of the Company; provided, however, that: (i) no amendment or
modification shall be effective to decrease or restrict the value of a Participant’s Account Balance in existence at the time the amendment or modification is made, calculated as if the Participant had experienced a Regular Separation from
Service as of the effective date of the amendment or modification, except that the Company may change the investment funds to be applied prospectively, and (ii) no amendment or modification of this Section 8.2 of the Plan shall be
effective. The amendment or modification of the Plan shall not affect any Participant or Beneficiary who has become entitled to the payment of benefits under the Plan as of the date of the amendment or modification. The Company specifically reserves
the right to amend the Plan to conform the provisions of the Plan to the guidance issued by the Secretary of the Treasury with respect to Code Section 409A, in accordance with such guidance. 

  

	8.3	Effect of Payment. The full payment of the applicable benefit under Articles 4 or 5 of the Plan shall completely discharge all obligations to a Participant and
his or her Beneficiaries under the Plan. 

 ARTICLE 9 
 Administration 
  

	9.1	 Administrative Duties. To the extent that ERISA applies to the Plan, the Company shall be the “named fiduciary” of the Plan and the
“plan administrator” of the Plan. The Company shall be responsible for the general administration of the Plan. The Company will, subject to the terms of the Plan, have the authority to: (i) approve for participation employees who are
recommended for participation by the President and Chief Executive 

  

 -17- 

	 	 
Officer of the Company, (ii) adopt, alter, and repeal administrative rules and practices governing the Plan, (iii) interpret the terms and
provisions of the Plan, and (iv) otherwise supervise the administration of the Plan. All decisions by the Company will be made with the approval of not less than a majority of the members of its Board of Directors. The Company may delegate any
of its authority to any other person or persons that it deems appropriate. 

  

	9.2	Agents. In the administration of the Plan, the Company may, from time to time, employ agents and delegate to them such administrative duties as it sees fit (including
acting through a duly appointed representative) and may from time to time consult with counsel who may be counsel to the Company. 

  

	9.3	Binding Effect of Decisions. All decisions by the Company, and by any other person or persons to whom the Company has delegated authority, shall be final and
conclusive and binding upon all persons having any interest in the Plan. 

  

	9.4	Indemnity of Company. The Company shall indemnify and hold any Employee to whom the duties of the Company may be delegated against any and all claims, losses, damages,
expenses or liabilities arising from any action or failure to act with respect to the Plan, except in the case of willful misconduct by the Company or any such Employee. 

  

	9.5	Information. To perform its functions, any person or persons who the Company has deemed appropriate to administer the Plan shall supply full and timely information on
all matters relating to the compensation of its Participants, the date and circumstances of the retirement, the Disabled status, death or other Separation from Service of its Participants, and such other pertinent information as the Company may
reasonably require. 

 ARTICLE 10 
 Other Benefits and Agreements 
  

	10.1	Coordination with Other Benefits. The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in addition to any other benefits
available to such Participant under any other plan or program for employees of the Company. The Plan shall supplement and shall not supersede, modify or amend any other such plan or program except as may otherwise be expressly provided.

 ARTICLE 11 
 Claims Procedures 
  

	11.1	 Initial Claim. If a Participant believes he or she is entitled to payments under the Plan which have not been paid or have been paid in a lesser
amount, the Participant may submit a written claim to the Senior Vice President of Human Resources for the Company. If the Senior Vice President of Human Resources determines that the claim should be denied, written notice of the decision will be
furnished to the Participant within a reasonable period 

  

 -18- 

	 	 
of time. This notice will set forth in clear and precise terms the specific reasons for the denial, specific reference to pertinent Plan provisions on which
the denial is based, a description of additional material or information necessary for the Participant to perfect the claim, and an explanation of the Plan’s review procedure. The written notice shall be given to the Participant within ninety
(90) days after receipt of the claim, unless special circumstances require an extension of time for processing the claim, in which case a decision will be rendered and written notice furnished within one hundred eighty (180) days after
receipt of the claim. A written notice of such extension of time indicating the special circumstances and expected date of decision will be furnished to the Participant within the initial ninety (90) day period. 

  

	11.2	Claims Appeal. The Participant may, within sixty (60) days after receiving notice denying the claim, request a review of the decision by written application to
the committee established by the Company to review appeals under this Plan (the “Review Panel”). The Participant may also review pertinent documents and submit issues and comments in writing. A written decision on the appeal will be made
by the Review Panel not later than sixty (60) days after receipt of the appeal, unless special circumstances require an extension of time, in which case a decision will be rendered within a reasonable period of time, but in no event later than
one hundred twenty (120) days after receipt of the appeal. A written notice of such extension of time will be furnished to the Participant before such extension begins. The decision will include the specific reason(s) for the decision and the
specific reference(s) to the pertinent plan provisions on which the decision is based. The decision will be final. The Participant’s Beneficiary also may use the claim procedures set forth in Section 11.1 and this Section.

 ARTICLE 12 
 Trust 
  

	12.1	Establishment of the Trust. The Company may establish one or more irrevocable Trusts to which the Company may transfer such assets as the Company determines in its
sole discretion to assist in meeting its obligations under the Plan. 

  

	12.2	Interrelationship of the Plan and the Trust. The provisions of the Plan shall govern the rights of a Participant to receive distributions pursuant to the Plan. The
provisions of the Trust shall govern the rights of the Company, Participants and the creditors of the Company to the assets transferred to the Trust. 

  

	12.3	Distributions from the Trust. The Company’s obligations under the Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust, and any
such distribution shall reduce the Company’s obligations under the Plan. 

  

 -19- 

 ARTICLE 13 
 Miscellaneous 
  

	13.1	Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that “is unfunded and is maintained by
an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. The Plan shall be administered
and interpreted to the extent possible in a manner consistent with that intent. 

  

	13.2	Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any
property or assets of the Company. For purposes of the payment of benefits under the Plan, any and all of the Company’s assets shall be, and remain, the general, unpledged unrestricted assets of the Company. The Company’s obligation under
the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  

	13.3	Company’s Liability. The Company’s liability for the payment of benefits shall be defined only by the Plan. The Company shall have no obligation to a
Participant under the Plan except as expressly provided in the Plan. 

  

	13.4	Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise
encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be, unassignable and non-transferable. No
part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be
transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise. 

  

	13.5	Not a Contract of Employment. The terms and conditions of the Plan shall not be deemed to constitute a contract of employment between the Company or any Affiliate and
the Participant, either expressed or implied. Such employment is hereby acknowledged to be an “at will” employment relationship that can be terminated at any time for any reason, or no reason, with or without cause, and with or without
notice, unless expressly provided in a written employment agreement. Nothing in the Plan shall be deemed to give a Participant the right to be retained in the service of the Company or any Affiliate, or to interfere with the right of the Company or
any Affiliate to discipline or discharge the Participant at any time. 

  

	13.6	 Furnishing Information. A Participant or his or her Beneficiary will cooperate with the Company by furnishing any and all information requested by the
Company and take such 

  

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other actions as may be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder, including but not limited to
taking such physical examinations as the Company may deem necessary. 

  

	13.7	Terms. Whenever any words are used herein in the masculine, they shall be construed as though they were in the feminine in all cases where they would so apply; and
whenever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they would so apply. 

  

	13.8	Captions. The captions of the articles, sections and paragraphs of the Plan are for convenience only and shall not control or affect the meaning or construction of any
of its provisions. 

  

	13.9	Governing Law. Subject to ERISA, the provisions of the Plan shall be construed and interpreted according to the internal laws of the State of Delaware without regard
to its conflicts of laws principles. 

  

	13.10	Notice. Any notice or filing required or permitted to be given to the Company under the Plan shall be sufficient if in writing and hand-delivered, or sent by
registered or certified mail, to the address below: 

 Colfax Corporation 
 8730 Stony Point Parkway 
 Suite 150

 Richmond, VA 23235 
 Attn:
Senior Vice President of Human Resources 
 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as
of the date shown on the postmark on the receipt for registration or certification. 
 Any notice or filing required or permitted to be given
to a Participant under the Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Participant. 
  

	13.11	Successors. The provisions of the Plan shall bind and inure to the benefit of the Company and its successors and assigns and the Participant and the Participant’s
Beneficiaries. 

  

	13.12	Spouse’s Interest. The interest in the benefits hereunder of a spouse of a Participant who has predeceased the Participant shall automatically pass to the
Participant and shall not be transferable by such spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass under the laws of intestate succession. 

  

	13.13	Validity. In case any provision of the Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but
the Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

  

 -21- 

	13.14	Incompetent. If the Company determines in its discretion that a benefit under the Plan is to be paid to a minor, a person declared incompetent or to a person incapable
of handling the disposition of that person’s property, the Company may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person. The Company may
require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the Participant’s
Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

  

	13.15	Court Orders. The Company shall comply with domestic relations orders (as defined in Code Section 414(p)(1)(B)), pursuant to which a court has determined that a
spouse or former spouse of a Participant has an interest in the Participant’s benefits under the Plan, and other court orders that do not contravene the requirements of Section 409A of the Code. 

  

	13.16	Insurance. The Company, on its own behalf or on behalf of the trustee of the Trust, and, in its sole discretion, may apply for and procure insurance on the life of the
Participant, in such amounts and in such forms as the Trust may choose. The Company or the trustee of the Trust, as the case may be, shall be the sole owner and beneficiary of any such insurance. The Participant shall have no interest whatsoever in
any such policy or policies, and at the request of the Company shall submit to medical examinations and supply such information and execute such documents as may be required by the insurance company or companies to whom the Company has applied for
insurance. 

  

	13.17	Distribution in the Event of Income Inclusion Under Code Section 409A. The Company intends for the Plan to comply with and be construed in accordance with Code
Section 409A, but this is not a guarantee. In the event that it is determined that the Plan does not comply with Section 409A, if any portion of a Participant’s Account Balance under this Plan is required to be included in income by
the Participant prior to receipt due to a failure of this Plan to comply with the requirements of Code Section 409A and related Treasury Regulations, the Company may determine that such Participant shall receive a distribution from the Plan in
an amount equal to the lesser of (i) the portion of his or her Account Balance required to be included in income as a result of the failure of the Plan to comply with the requirements of Code Section 409A and related Treasury Regulations,
or (ii) the unpaid vested Account Balance. 

  

	13.18	 Deduction Limitation on Benefit Payments. If the Company reasonably anticipates that the Company’s deduction with respect to any distribution
from this Plan would be limited or eliminated by application of Code Section 162(m), then to the extent permitted by Treasury Regulations §1.409A-2(b)(7)(i), payment shall be delayed as deemed necessary to 

  

 -22- 

	 	 
ensure that the entire amount of any distribution from this Plan is deductible. Any amounts for which distribution is delayed pursuant to this Section shall
continue to be credited/debited with additional amounts in accordance with Section 3.7. The delayed amounts (and any amounts credited thereon) shall be distributed to the Participant (or his or her Beneficiary in the event of the
Participant’s death) at the earliest date the Company reasonably anticipates that the deduction of the payment of the amount will not be limited or eliminated by application of Code Section 162(m). In the event that such date is determined
to be after a Participant’s Separation from Service and the Participant to whom the payment relates is determined to be a Key Employee, then to the extent deemed necessary to comply with Treasury Regulations §1.409A-3(i)(2), the delayed
payment shall not made before the end of the six-month period following such Participant’s Separation from Service. 

  

	13.19	No Acceleration of Benefits. The acceleration of the time or schedule of any payment under the Plan is not permitted, except as provided in regulations by the
Secretary of the Treasury. 

  

	13.20	Compliance with Code Section 409A. The Plan is intended to provide for the deferral of compensation in accordance with Code Section 409A for compensation
earned, vested, or deferred after December 31, 2004. 

 IN WITNESS WHEREOF, the Company has signed this Colfax Corporation
Amended and Restated Excess Benefit Plan, effective January 1, 2008, on                     , 2008. 
  

			
	COLFAX CORPORATION
		
	By:	 	  

	Title:	 	  

  

 -23- 

 APPENDIX A 
 LIMITED TRANSITION RELIEF FOR DISTRIBUTION ELECTIONS 
 MADE AVAILABLE IN ACCORDANCE WITH
NOTICE 2006-79 AND NOTICE 2007-86 
 The capitalized terms below shall have the same meaning as provided in Article 1 of the Plan. 
 Opportunity to Make New (or Revise Existing) Distribution Elections. Notwithstanding the required deadline for the submission of an initial distribution
election under Articles 4 and 5 of the Plan and the restrictions on changes to the time and form of payment under Section 5.4, the Company may, to the extent permitted by I.R.S. Notice 2006-79 and I.R.S. Notice 2007-86, provide a limited period
in which Participants may make new distribution elections, or revise existing distribution elections, by submitting an Election Form on or before the deadline established by the Company, which in no event shall be later than December 31, 2008.
Any distribution election(s) made by a Participant, and accepted by the Company, in accordance with this Appendix A shall not be treated as a change in either the form or timing of a Participant’s benefit payment for purposes of Code
Section 409A(a)(4) or the Plan, or as an acceleration of a benefit payment under Code Section 409A(a)(3) or the Plan. 
 If any distribution
election submitted by a Participant in accordance with this Appendix A on or after January 1, 2007 and on or before December 31, 2007 either (a) relates to an amount that would otherwise be paid to the Participant in 2007, or
(b) would cause an amount to be paid to the Participant in 2007 that would not otherwise be payable in 2007, such election shall not be effective. If any distribution election submitted by a Participant in accordance with this Appendix A on or
after January 1, 2008 and on or before December 31, 2008 either (a) relates to an amount that would otherwise be paid to the Participant in 2008, or (b) would cause an amount to be paid to the Participant in 2008 that would not
otherwise be payable in 2008, such election shall not be effective. For example, where an amount would otherwise be payable upon an event, such as a Regular Separation from Service, an election in 2008 shall not change the amount that would be
payable in 2008 if the Participant’s Termination Date is in 2008. The Company may, in its discretion, permit a Participant to make more than one change under this Appendix A. 
  

 -24-

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