Document:

EX-10.23

 Exhibit 10.23 

DISTRIBUTION AND CROSS MARKETING AGREEMENT 

This Distribution and Cross Marketing Agreement (“Distribution Agreement”) is made effective as of December 19, 2014, by and
among Manitex International, Inc. (“Manitex”) a Michigan corporation, Terex Corporation (“Terex”), a Delaware Corporation, and A.S.V., Inc. (“ASV”) a Minnesota corporation. Manitex, Terex and ASV
may be referred to herein individually as a Party and collectively as the Parties. 
 BACKGROUND 

WHEREAS, pursuant to that certain Stock Purchase Agreement, dated as of October 29, 2014, by and between Terex, Manitex and ASV
(the “Purchase Agreement”), Manitex has acquired 51% of the outstanding stock of ASV (the “Acquisition”) from Terex (the “Acquisition”); and 

WHEREAS, after the Acquisition, ASV will conduct its Business as a joint venture and in connection therewith ASV will manufacture and
sell skid steer and compact track loader machines and parts (“ASV Products”) under both the Terex and Manitex brands; and 

WHEREAS, the parties desire to set forth herein, and subject to the terms and conditions of this Agreement, the terms upon which ASV
will manufacture and sell ASV Products, and certain services Terex will provide in assisting in the sales and marketing of ASV Products and the costs to be paid by ASV in exchange for such services. 

NOW, THEREFOR, in consideration of the mutual covenants herein and for good and valuable consideration, receipt of which is hereby
acknowledged, the Parties agree as follows. 
  

	I.	SALES AND DISTRIBUTION. 

 A. Exclusive Territory and
Customers. 
 1. Dealers and Territories. Terex shall have the exclusive right on behalf of ASV to
market and sell Terex-branded ASV Products to the dealers and within the territories associated with such dealers as further set forth on Exhibit A hereto in the tabs marked “U.S.”, “Canada” and “LA”. The Parties
will reference the specific dealer agreement related to each such dealer to determine the applicable territory for such dealer. In the event that the dealer agreement does not provide for a specific territory, or if no dealer agreement is then in
force, the Parties shall analyze the historic sales of such dealer over the preceding 3 year period and will on a good faith basis, make a mutual determination as to what the appropriate exclusive territory for such dealer should be. Provided,
however, that if the relevant dealer disagrees with such determination of exclusivity, ASV shall indemnify and hold Terex harmless from any cost, loss or expenses, including attorneys’ fees, related to or arising from ASV or Manitex selling
competitive products within the territory claimed by such dealer. The Parties agree that they shall use commercially reasonable efforts to identify the exclusive territory for each dealer listed in Exhibit A within 120 days of the date of
this Distribution Agreement, provided that it shall not be deemed a breach of this agreement if the Parties are unable to do so provided they continue to take commercially reasonable measures after such time. 

 2. Exclusive Customers. Terex shall have the exclusive right on behalf of
ASV to market and sell Terex-branded ASV Products to the rental house customers listed in Exhibit A hereto in the tab marked “Rental KA”, and to national rental account customers listed in Exhibit A in the tab marked
“National”. 
 3. ASV and Manitex Covenant. ASV and Manitex hereby agree that they shall refrain from
offering any inducement to any dealer, rental house or national account listed in Schedule A to terminate its relationship with Terex or purchase Manitex-branded Products. 

B. Selling and General and Administrative Costs. In consideration for Terex’s commercial efforts to sell both ASV machinery
and parts and the costs incurred by Terex in doing so, ASV agrees to compensate Terex for its machine sales selling expense and parts sales selling expense as set forth in Exhibit B and Exhibit C, respectively. In addition ASV agrees
that it will compensate Terex for general and administrative costs associated with such sales at the rate of $463,000 for each annual period commencing on the date hereof, which shall be subject to an annual escalation of 3%, as well as additional
0.5% on the incremental annual revenue of ASV in excess of $103,000,000. 
 C. Forecasts. Terex shall, consistent with its
past historical practice, assist ASV with production planning forecasts and ASV shall use commercially reasonable efforts to ensure that the production schedule is met. 
  

	II.	MARKETING. 

 A. Marketing Services. Terex shall use commercially reasonable efforts
to market the ASV Products consistent with the historical past practice of the Business (as that term is defined in the Purchase Agreement). Terex shall provide or shall assist ASV in producing, product brochures and literature related to the ASV
Products and shall further make required dealer communications regarding the promotion of the Products. Terex shall also exhibit ASV Products at the CONEXPO-CON/AGG trade show. The next CONEXPO-CON/AGG trade show is scheduled for March 2017. Terex shall exhibit ASV Products at such other major trade shows as the parties mutually agree. Nothing contained herein shall prohibit Manitex showing
Manitex-branded ASV Product at the same or other trade shows. 
 B. Marketing Cost. In consideration for the provision of marketing services
hereunder, ASV shall pay Terex an annual fee of $250,000, which shall be subject to an annual escalation of 3%, plus 0.2% of net incremental sales. In years in which Terex exhibits the ASV Products at
CONEXPO-CON/AGG, or other major trade shows, ASV and Terex shall negotiate in good faith to determine a fee to be paid by ASV to compensate Terex for costs associated with such shows, which costs will not
exceed a maximum of $200,000. 
  

	III.	TERMINATION. 

 A. Term. Unless terminated by either party in accordance with the
terms of this Section III, the term of this Agreement shall be five (5) years (the “Initial Term”). The parties may agree to renew this Distribution Agreement for additional one (1) year terms (each, a
“Renewal Term”). The Initial Term and the Renewal Term are sometimes referred to in this Agreement together as the “Term.” 

B. Termination. A Party may only terminate this Agreement upon a material breach of this Agreement by the other Party if such breach is not
cured within thirty (90) days after written notice of said breach by the non-breaching Party to the Party in breach (the “Cure Period”). 

	IV.	INDEMNITY. 

 ASV shall indemnify, release, defend, and hold harmless Terex, its subsidiaries and
affiliates, and each of their respective agents, officers, employees, successors, assigns, and indemnitees (the “Indemnified Parties”), from and against any and all losses, costs, damages, claims, liabilities, fines, penalties, and
expenses (including, without limitation, attorneys’ and other professional fees and expenses, and court costs, incurred in connection with the investigation, defense, and settlement of any claim asserted against any Indemnified Party or the
enforcement of ASV obligations under this Distribution Agreement (collectively, “Losses”), which any of the Indemnified Parties may suffer or incur in whole or in part arising out of or in any way connected with the performance or the
manufacturing and furnishing of ASV parts or equipment under this Distribution Agreement. 
  

	V.	MISCELLANEOUS. 

 A. Severability. If one or more of the provisions
contained in this Distribution Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Distribution Agreement, and
this Distribution Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. Notwithstanding the foregoing, a court of competent jurisdiction may reform any provision found invalid, illegal,
or unenforceable in a manner consistent with the intent of the Parties so as render such provision fully enforceable to the extent permitted by law. 

B. Counterparts; Electronic Transmission. This Distribution Agreement may be executed in counterparts, with all counterparts
constituting one and the same original. Signatures may be transmitted or delivered by electronic means, including facsimile and digital image (e.g.,.PDF, .JPG) and such electronic version shall constitute an original for all purposes. 

C. Assignment. This Distribution Agreement may not be assigned by any Party without the other Party’s prior written
consent. Notwithstanding the foregoing, ASV may assign any or all of its rights and obligations hereunder to any provider (or agent therefor) of debt financing to it or any of its Affiliates. Subject to the foregoing, this Distribution Agreement
shall be binding upon the heirs, successors, and permitted assigns of the Parties hereto. 
 D. Governing Law. This
Distribution Agreement shall be governed by and construed under the laws of the State of New York without regard to the principles of conflicts of laws thereof, and any action hereunder shall be taken in the state or federal courts located in New
York. By execution of this Distribution Agreement, each Party accepts and agrees to the exclusive jurisdiction and venue of the aforesaid courts and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Distribution
Agreement, subject to a Party’s appeal rights. 
 E. Survival. The following provisions shall survive termination of this
Distribution Agreement: Section IV. 

 F. Waiver. No waiver by a Party to this Distribution Agreement of any breach of
this Distribution Agreement shall be a waiver of any preceding or succeeding breach. No waiver by a Party to this Distribution Agreement of any right under this Distribution Agreement shall be construed as a waiver of any other right. Neither Party
shall be required to give notice to enforce strict adherence to all terms of this Distribution Agreement. 
 G. Entire Agreement.
This Distribution Agreement and the exhibits attached hereto, constitute the final, complete and exclusive agreement of the Parties with respect to the subject matter hereof and supersede and merge all prior discussions between the Parties. No
modification of or amendment to this Distribution Agreement, nor any waiver of any rights under this Distribution Agreement, will be effective unless in writing and signed by the Party to be charged. 

H. Notices. All notices, requests and other communications under this Distribution Agreement must be in writing, and must be
mailed by registered or certified mail, postage prepaid and return receipt requested, or Delivered by hand to the Party to whom such notice is required or permitted to be given. If mailed, any such notice will be considered to have been given five
(5) business days after it was mailed postage prepaid to the address provided below or updated by delivery of written notice in accordance with the provisions of this Section V(H). If delivered by hand, any such notice will be considered
to have been given when received by the Party to whom notice is given. 
  

			
	TEREX	  	ASV
		
	Terex Corporation	  	A.S.V., Inc.
		
	200 Nyala Farm Road	  	840 Lily Lane
		
	Westport, CT 06880	  	Grand Rapids, MN 55744
		
	Attention: Eric Cohen	  	Attention: Jim DiBiagio
		
	Tel.: (203) 222-5950	  	Tel: (218) 999 426
		
	Fax: (203) 722-7766	  	Fax:                    

 

			
	Manitex
	
	9725 Industrial Drive
	
	Bridgeview, IL 60455
	
	Attention: Andrew Rooke
		
	Tel.: (708) 237-2056	  	
		
	Fax: (708) 430-1335	  	

 [Signature Page Follows on Next Page] 

 IN WITNESS WHEREOF, each of the Parties has caused this Distribution Agreement to be
executed on its behalf as of the date first above written. 
  

					
	Terex Corporation
		
		 	 
		 	Name:	 	
		 	Title:	 	
	
	Manitex International, Inc.
		
		 	/s/ Andrew M. Rooke
		 	  

		 	Name:	 	Andrew M. Rooke
		 	Title:	 	President and Chief Operating Officer
	
	A.S.V, Inc.
		 	  

		 	Name:	 	
		 	Title:	 	

 Signature Page to Distribution Agreement 

 IN WITNESS WHEREOF, each of the Parties has caused this Distribution Agreement to be
executed on its behalf as of the date first above written. 
  

					
	Terex Corporation
		
		 	/s/ ERIC I COHEN
		 	  

		 	Name:	 	ERIC I COHEN
		 	Title:	 	Senior Vice President
	
	Manitex International, Inc.
		
		 	  

		 	Name:	 	
		 	Title:	 	
	
	A.S.V, Inc.
		
		 	/s/ ERIC I COHEN
		 	  

		 	Name:	 	ERIC I COHEN
		 	Title:	 	Vice President

 Signature Page to Distribution Agreement 

 EXHIBIT A 

Exclusive Dealers and Territories – see attached tabs “U.S.”, “Canada” and “LA” 

Exclusive Rental Customers – see attached tab “Rental KA” 

National Account Customers – see attached tab “National” 

 EXHIBIT B 

See attached – Exhibit B. 

 EXHIBIT B 

Selling expense - machines. Dollar amounts are in thousands. 
  

																									
	 Fully allocated cost
	  				 	$	1,991	 	 	 	2.5	% 	 				 				 			
	 - Cost of transferred employees
	  				 	 	(967	) 	 				 				 				 			
		  				 	  
	  
	 	 				 				 				 			
		  				 	$	1,024	 	 	 	1.5	% 	 				 				 			
			
	 	  	 	 	 	Scenario	 
	 	  	 	 	 	LTM	 	 	1	 	 	2	 	 	3	 	 	4	 
	 Sales (machine)
	  				 	$	80,251	 	 				 				 				 			
	 adj for lost Australian sales
	  	 	15	% 	 	 	68,213	 	 	$	45,000	 	 	$	60,000	 	 	$	70,000	 	 	$	90,000	 
							
	 Minimum fee
	  				 	$	1,024	 	 	$	1,024	 	 	$	1,024	 	 	$	1,024	 	 	$	1,024	 
	 +4.0% for incremental sales above $68M
	  	 	4.0	% 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	71	 	 	 	871	 
	 -1.5% for incremental sales below $55M
	  	$	55,000	 	 	 	—  	 	 	 	(150	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 
		  				 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 % of total sales
	  				 	$	1,024	 	 	$	874	 	 	$	1,024	 	 	$	1,095	 	 	$	1,895	 
		  				 	 	1.5	% 	 	 	1.9	% 	 	 	1.7	% 	 	 	1.6	% 	 	 	2.1	% 
							
	 Plus a 3% annual increase in the base $1,024
	  				 				 				 				 				 			

 EXHIBIT C 

See attached – Exhibit C. 

 Selling expense - Parts. Dollar amounts in thousands unless otherwise noted 

 

																									
	 Fully allocated cost
	  				 	$	727	 	 	 	3.5	% 	 				 				 			
	 - Cost of transferred employees
	  				 	 	—  	 	 				 				 				 			
		  				 	  
	  
	 	 				 				 				 			
		  				 	$	727	 	 	 	4.1	% 	 	 	3.0	% 	 				 			
			
	 	  	 	 	 	Scenario	 
	 	  	 	 	 	LTM	 	 	1	 	 	2	 	 	3	 	 	4	 
	 Sales (parts)
	  				 	$	20,679	 	 				 				 				 			
	 Adjustment for lost Australian sales
	  	 	15	% 	 	 	17,577	 	 	$	10,000	 	 	$	15,000	 	 	$	20,000	 	 	$	25,000	 
							
	 Minimum fee
	  				 	$	727	 	 	$	727	 	 	$	727	 	 	$	727	 	 	$	727	 
	 +3.5% for incremental sales above $17MM
	  	 	3.5	% 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	85	 	 	 	260	 
	 -3.0% for incremental sales below $14MM
	  	$	14,000	 	 	 	—  	 	 	 	(120	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 
		  				 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 % of total sales
	  				 	$	727	 	 	$	607	 	 	$	727	 	 	$	812	 	 	$	987	 
		  				 	 	4.1	% 	 	 	6.1	% 	 	 	4.8	% 	 	 	4.1	% 	 	 	3.9	% 
							
	 Plus a 3% annual increase in the base $727EX-10.24

 EXPLANATORY NOTE: [*] INDICATES THE PORTION OF THIS EXHIBIT THAT HAS BEEN OMITTED AND
SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. 
 Exhibit 10.24 

SERVICES AGREEMENT 
 This
SERVICES AGREEMENT (this “Agreement”) is made and entered into as of December 19,2014, by and between TEREX CORPORATION, a Delaware corporation (“Terex”), and A.S.V., INC. a Minnesota
corporation (“A.S.V.”). Terex and A.S.V. are each referred to individually as “Party” and collectively as the “Parties.” Capitalized terms not otherwise defined herein are used as defined in
Section 9. 
 BACKGROUND 

WHEREAS, pursuant to that certain Stock Purchase Agreement, dated as of October 29, 2014, by and between Terex, Manitex International,
Inc. (“Manitex”) and A.S.V. (the “Purchase Agreement”), Manitex has acquired on the date hereof 51% of the outstanding stock of A.S.V. (the “Acquisition”) from Terex (the “Acquisition”). 

WHEREAS, in connection with the Acquisition, and subject to the terms and conditions of this Agreement, A.S.V. desires to obtain from
Terex and its Affiliates, and Terex is willing to provide, and cause its Affiliates to provide, certain services and support for A.S.V. and in relation to the Business (as defined in the Stock Purchase Agreement). 

NOW, THEREFORE, in consideration of the mutual covenants herein and for good and valuable consideration, receipt of which is hereby
acknowledged, the Parties agree as follows. 
 AGREEMENT 

1. Service Provider’s Obligations. 

1.1 Services Generally. Subject to the terms and conditions of this Agreement, during the applicable term set forth in the applicable
Service Schedule, Terex or its Affiliates as a Service Provider will provide the Services to A.S.V. as the Service Recipient. The Services shall be of a scope and delivered in a manner consistent with past practice of the Service Provider on an
internal or, where applicable, intra-company basis. Without limitation, the Services listed on a Service Schedule include the specific activities, tasks, and responsibilities that have been provided by that party internally on a customary and
regular basis prior to the Closing Date for the proper performance of the Services, even if not specified on a Service Schedule. 
 1.2
Subcontracting. The Service Recipient understands that before and after the Closing Date, the Service Provider may have contracted, and may in the future contract, with third parties to provide services in connection with all or any portion
of the Services to be provided under this Agreement. Upon notice to the Service Recipient, the Service Provider may contract with third parties to provide the Services or to enter into new arrangements for any of the Services; provided that
notwithstanding anything in the foregoing to the contrary (i) third parties must be bound by confidentiality terms with respect to the Service Recipient’s confidential and nonpublic information that are no less restrictive than
Section 5.1, (ii) the Service Provider shall remain fully responsible for the 

 
performance of the Services in accordance with this Agreement and (iii) the Service Provider shall make commercially reasonable efforts to cause the third party service provider to enter
into a direct contractual relationship with the Service Recipient for the provision of the relevant Services, on such terms and conditions as reasonably agreed upon by the Service Recipient, in which case Service Provider shall no longer be
obligated to deliver such services under the Agreement. 
 1.3 Certain Limitations. Unless expressly provided herein and/or in any
Service Schedule, the Service Provider is not required to hire any additional employees or maintain the employment of any specific employee, modify any existing systems, equipment or software or acquire additional systems, equipment or software.

 1.4 Compliance with Laws. The Service Provider shall provide the Services in accordance in all material respects with all
applicable Laws. The Service Provider shall not be obligated to provide, or cause to be provided, any Service if the provision of such Service would require it or any of its employees, agents or representatives to violate any applicable Law. 

1.5 Service Data. The Service Recipient is responsible, from and after the date of this Agreement, for (i) the accuracy and
completeness of all data submitted by the Service Recipient to the Service Provider for processing or transmission in connection with the Services, and (ii) any errors in and with respect to data or information obtained from the Service
Provider to the extent caused by inaccurate or incomplete data submitted by the Service Recipient. 
 1.6 Additional Services. Should
a Party, in its reasonable judgment, after the Closing Date identify a particular service that had been provided prior to the Closing Date and that should be provided under this Agreement, then that Party may, at any time after the Closing Date,
request that such transitional service be provided under this Agreement. Following that request, the Parties shall negotiate in good faith with respect to any such requested additional services (each such mutually agreed additional service, a
“Subsequently Identified Additional Service”). The parties shall amend the existing Service Schedules for any such requested additional services that Service Recipient and Service Provider mutually agree to add to the Service
Schedule. 
 1.7 Treatment of Employees. All employees and representatives of a Service Provider are considered, for purposes of all
compensation and employee benefits matters to be employees or representatives of that Service Provider, as applicable, and not employees or representatives of the Service Recipient. 

1.8 Mandatory Changes. If a change in the Services is required by applicable Law, then the Service Recipient may, by written notice,
require the Service Provider to commence to provide such change in the Services to the extent required by applicable Law. The Service Recipient shall pay the Service Provider for the Services performed as changed or as ultimately agreed to in
writing by the Parties. 

  
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 1.9 Audit Rights. Each Party shall cooperate with the other in connection with any
financial audits the Service Recipient may conduct, including by providing access for the Service Recipient, its auditors, and designees to the Service Provider and its Affiliates computer systems and records. 

2. Service Recipient’s Obligations. 

2.1 Compliance with Laws and Policies. Each Party agrees to comply with all applicable laws in the provision of the Services. The
Service Recipient agrees to (i) comply with any policies and reasonable instructions provided by the Service Provider that are necessary or desirable for the Service Provider to provide the Services in accordance with this Agreement, and
(ii) make available to the Service Provider the books and records of Service Recipient solely to the extent necessary for the Service Provider to perform its obligations under this Agreement. 

2.2 Cooperation. In order to enable the Service Provider to provide the Services, the Service Recipient will provide the Service
Provider with cooperation and assistance as the Service Provider reasonably requests as required to facilitate provision of the Services. 

2.3 Non-Exclusive. Nothing in this Agreement will preclude a Party from obtaining from its own
employees or from providers other than the other Party, in whole or in part, services of any nature. 
 3. Compensation. 

3.1 Compensation of Service Provider. As compensation for the Services provided under the terms of this Agreement, each Party, as the
Service Recipient, shall pay the Service Provider a fee equal to the fees set forth on the applicable Schedule. 
 3.2 Invoice.
Services shall be invoiced by the Service Provider on a monthly basis. On or prior to the 15th day of each month, the Service Provider shall provide the Service Recipient with an invoice setting forth the estimated Costs that the Service Provider
has incurred for the prior month. Any differences between the invoiced estimated Costs and the actual Costs incurred by the Service Provider shall be reflected in the invoice of the following month. 

3.3 Disputes. The Service Recipient shall be entitled to dispute, in good faith and in writing, any invoice. Any such notice of dispute
shall provide reasonable detail for the basis of disputing any such amount. The Service Provider and the Service Recipient shall, within five business days following the receipt of such dispute in writing, discuss such disputes. Notwithstanding the
foregoing, the Service Provider shall provide the Service Recipient with an invoice setting forth the estimated amounts required for payroll related to the payroll services provided on Schedule 1 five business days prior to the funding of such
payroll amounts and the Service Recipient shall fund the respective account(s) from which payroll is made with the invoiced amount not later than two (2) business days prior to the pay date for such payroll. 

  
 3 

 3.4 Payment. Service Recipient shall pay the fees then payable under this
Section 3 within 30 days following the date of the receipt of each invoice, except for the portions of any invoices that are disputed in good faith by the Service Recipient pursuant to Section 3.3 may be withheld pending
resolution of such dispute; provided that the Service Recipient shall be diligently pursuing resolution of the dispute. To the extent any such dispute is determined in favor of a Service Provider, Service Recipient shall pay to such Service Provider
promptly (and in any event within 3 days of such determination) the disputed amount together with interest thereon from the date of such invoice through the date of payment at a rate of 1% per month. Payment shall be made by Service Recipient in the
form of a bank draft, wire transfer or other form of payment as may be determined by mutual agreement of the Parties. 
 3.5
Currency. All prices will be calculated and paid in local currencies or any other currency agreed to from time to time by the Parties. 

3.6 Taxes. The fees and charges of Service Provider under this Agreement do not include any taxes, including, without limitation, any
VAT or sales taxes (“Taxes”). Service Recipient is responsible for payment of all Taxes, other than Taxes based on Service Provider’s net income. 

3.7 Expenses. Except as otherwise expressly provided in this Agreement, each Party will bear its own costs and expenses incurred in the
performance of this Agreement (it being understood that expenses shall not include expenses for the provision of services that are payable under this Agreement). 

4. [Reserved]. 
 5. Confidentiality. 

5.1 Confidentiality Obligations. During the term of this Agreement, a Party (“Recipient”) may be provided with, have
access to, or otherwise learn confidential and/or proprietary information of another Party (“Discloser”) (including, with respect to Discloser, certain information and materials concerning Discloser’s business, plans,
customers, technology, and products) that is of substantial value to Discloser, which is identified as confidential at the time of disclosure or which should reasonably be considered, under the circumstances of its disclosure, to be confidential to
Discloser (“Confidential Information”). All Confidential Information remains the property of Discloser. Recipient may disclose the Confidential Information of Discloser only to Recipient’s employees and contractors who need to
know the Confidential Information for purposes of performing under this Agreement and who are bound by confidentiality obligations that are at least as protective as this Section 5. Recipient will not use the Confidential Information
without Discloser’s prior written consent except in performance under this Agreement. Recipient shall take measures to maintain the confidentiality of the Confidential Information equivalent to those measures Recipient uses to maintain the
confidentiality of its own confidential information of like importance but in no event less than reasonable measures. Recipient shall give prompt notice to Discloser of any unauthorized use or disclosure of the Confidential Information that comes to
the attention 

  
 4 

 
of the Recipient and agrees to assist Discloser in remedying such unauthorized use or disclosure. Upon termination or expiration of this Agreement, Recipient shall return to Discloser all
tangible copies of Confidential Information of Discloser in Recipient’s possession or control and shall erase from their computer systems all electronic copies thereof. 

5.2 Exceptions. The confidentiality obligations do not extend to Confidential Information which (i) becomes part of the public
domain without the fault of Recipient; (ii) is rightfully obtained by Recipient from a third party who Recipient reasonably believes has the right to transfer such information without obligation of confidentiality; (iii) is independently
developed by Recipient without reference to or use of Discloser’s Confidential Information; or (iv) was lawfully in the possession of Recipient at the time of disclosure, without restriction on disclosure. In addition, Recipient may
disclose Confidential Information of Discloser as may be required by law, a court order, or a governmental agency with jurisdiction, on condition that before making that disclosure Recipient first notifies Discloser to give Discloser an opportunity
to seek confidential treatment or seek a protective order or otherwise limit the disclosure, and cooperates with Discloser if Discloser as reasonably requested. If any portion of the Confidential Information falls within any of the above exceptions,
the exception will apply only to that specific portion and the remainder of Discloser’s Confidential Information will continue to be subject to the confidentiality requirements of this Agreement. 

5.3 Access to Computer Systems. If a Party is given access to any equipment, computer, software, network, electronic files, or
electronic data storage system owned or controlled by the other Party, such accessing Party will limit such access and use solely to provide or receive Services under this Agreement and shall not access or attempt to access any equipment, computer,
software, network, electronic files, or electronic data storage system, other than those specifically required to provide or receive the Services. Each Party will limit its access to those employees with a requirement to have that access in
connection with this Agreement, will advise the other Party in writing of the name of each person who will be granted access if requested to do so, and will strictly follow all security rules and procedures for use of electronic resources. All user
identification numbers and passwords disclosed to a Party and any Confidential Information obtained by a Party as a result of their access to and use of any equipment, computers, software, networks, clean-rooms electronic files, and electronic data
storage systems owned or controlled by the other Party, is deemed to be, and will be treated as, Confidential Information under applicable provisions of this Agreement. The Parties agree to cooperate in the investigation of any apparent unauthorized
access to any equipment, computer, software, network, clean-room, electronic file, or electronic data storage systems owned or controlled by the other Party, or any apparent unauthorized release of Confidential Information. 

5.4 Injunctive Relief. The Parties hereto acknowledge and agree that a Party would suffer irreparable harm for which monetary damages would be an inadequate remedy if there were a breach by the other Party of its
obligations under this Section 5. The Parties hereto further acknowledge and agree that equitable relief, including 

  
 5 

 
injunctive relief, is appropriate to protect a Party’s rights and interests if a breach were to arise, be threatened, or be asserted, and such Party is entitled to the entry of an order for
immediate injunctive relief. 
 6. Limitations of Liability. 

6.1 Consequential Damages Waiver. IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY LOSS OF PROFIT, INDIRECT, INCIDENTAL, SPECIAL,
PUNITIVE, OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO THIS AGREEMENT. 
 6.2 Limitation of Liability. Each Party’s
liability under this Agreement (for its own conduct and the conduct of its Subsidiary(ies) in performing the Services) shall be limited to willful misconduct or gross negligence of such Party and its Subsidiaries. 

6.3 Basis of the Bargain. EACH PARTY ACKNOWLEDGES THAT THE MUTUAL LIMITATIONS OF LIABILITY CONTAINED IN THIS SECTION 6 REFLECT
THE ALLOCATION OF RISK SET FORTH IN THIS AGREEMENT AND THAT NO PARTY WOULD ENTER INTO THIS AGREEMENT WITHOUT THESE LIMITATIONS ON LIABILITY. 
 7.
Disclaimer. OTHER THAN AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR A SERVICE SCHEDULE, THE SERVICES, AND ALL OTHER FACILITIES, EQUIPMENT, SOFTWARE, AND SERVICES PROVIDED UNDER THIS AGREEMENT ARE PROVIDED “AS IS” AND THE SERVICE
PROVIDER MAKES NO OTHER REPRESENTATIONS OR WARRANTIES UNDER THIS AGREEMENT, AND DISCLAIMS ANY AND ALL OTHER REPRESENTATIONS OR WARRANTIES, STATUTORY, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, AND NON -INFRINGEMENT. 
 8. Term and Termination. 

8.1 Term of Agreement. 

(a) The term of this Agreement begins on the Closing Date and, unless earlier terminated as provided herein, will continue
until the termination or expiration of each of the Service-specific terms set forth in the Service Schedules. 
 (b) The
provision of the Services hereunder may be extended to the extent mutually agreed in writing between the Parties. 
 8.2 Termination.
A Party may terminate this Agreement or any one or more of the Service Schedules immediately, upon written notice, a copy of which shall also be provided to the appropriate Executives, as follows: (i) if the other Party materially

  
 6 

 
breaches any material term of this Agreement and fails to cure such breach within 45 days after receipt by the breaching party of written notice from the
non-breaching Party describing in reasonable detail such breach; (ii) upon the institution by or against the other Party of insolvency, receivership or bankruptcy proceedings or any other proceedings for
the settlement of the other Party’s debts, which case is not dismissed within 60 days of filing; (iii) except as specifically provided for herein, upon the other Party’s making an assignment for the benefit of creditors; (iv) or
upon the other Party’s dissolution or ceasing to conduct business in the normal course, or the other Party’s failure to pay its debts as they mature in the ordinary course of business. 

8.3 Effect of Termination. Upon termination or expiration of this Agreement for any reason, (a) the Service Provider will
cooperate with the Service Recipient in completing all work in progress and such other matters which may require the Service Provider’s assistance; (b) within five business days of any termination or expiration of this Agreement or any
Service Schedule, the Service Provider will deliver to the Service Recipient all deliverables, whether completed or in progress, as well as all materials which were furnished to the Service Provider by the Service Recipient or which were prepared or
procured by the Service Provider as a part of the Services, and will disclose to the Service Recipient all of the Service Provider’s work product related to the provision of the Services; (d) the Service Provider will cooperate with the
Service Recipient in transitioning all work in progress to the Service Recipient, or the Service Recipient’s designee, and will otherwise cooperate with the Service Recipient as reasonably requested to prevent disruption to the Service
Recipient’s business and operations; and (e) each Party shall return to the other Party or certify in writing to the other Party that it has destroyed all documents and other tangible items that it or its employees, contractors and agents
have received or created pertaining, referring or relating to the Confidential Information of the other Party furnished under this Agreement, and erase or destroy all electronic or magnetic records in computer memory, tape or other media containing
any Confidential Information, provided however a party may retain on a confidential basis copies of documents required to comply with legal obligations. Termination of this Agreement shall not limit either Party from pursuing any other remedies
available to it at law or in equity. Neither the Service Recipient, on the one hand, nor the Service Provider, on the other hand, will be liable to the other because of any proper termination of this Agreement for compensation, reimbursement, or
damages for the loss of prospective profits, anticipated sales or goodwill. The provisions of this Agreement that by their nature continue and survive will survive any termination or expiration. In the event of any termination with respect to one or
more, but less than all, of the Service Schedules, this Agreement will continue in full force and effect with respect to any Service Schedules not so terminated. 

8.4 Further Assurances. During the term of this Agreement and following the expiration of the term a Service Schedule or following any
termination of this Agreement, the Service Provider shall cooperate in good faith with the Service Recipient and shall transfer the records necessary and take all other necessary actions reasonably requested by the Service Recipient to reasonably
enable the Service Recipient to make alternative arrangements for the provision of Services. 

  
 7 

 9. Definitions. Certain terms, when used in this Agreement with initial capital letters, have the meanings
given to such terms below. Capitalized terms used but not expressly defined in this Agreement have the meanings given such terms in the Purchase Agreement. 

“Closing Date” means the date of this Agreement. 

“Costs” means the sum of Direct Costs and Indirect Costs, plus the mark up agreed to by the Parties. 

“Direct Costs” means all of the Service Provider’s actual costs of labor (including, but not limited to, wages, bonuses,
equity compensation, fringe benefits and employer taxes and contributions), and equipment and materials that are specifically attributable to the Services provided by the Service Provider under this Agreement (including allowances for the
depreciation of equipment and other capital assets used in the performance of the Services, as reported in the Service Provider’s local records of account), but does not include extraordinary expenses or financing expenses (which means interest
income or expense, but may include, if any, all exchange gains or losses and other financial costs). 
 “Indirect Costs”
means that portion of the Service Provider’s general and administrative expenses that are specifically allocated to the Services under this Agreement under any reasonable method agreed to by the Parties. 

“Services” means the following services and support to be provided to A.S.V. as set forth in Schedules 1 through 4 hereof.

 “Service Provider” means the entity providing the relevant Services. 

“Service Recipient” means the entity receiving the relevant Services. 

“Service Schedule” means each of the Schedules attached to this Agreement, as Schedule 1, Schedule 2, etc. that set forth the
Services to be provided by the Service Provider to the Service Recipient and any future schedules setting forth services as agreed upon between the Parties. 

10. General. 
 10.1 Notices. All
notices or other communications hereunder shall be given in accordance with Section 10.7 of the Purchase Agreement. 
 10.2
Choice of Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York (regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof) as to all
matters, including, but not limited to, matters of validity, construction, effect, performance and remedies. 

  
 8 

 10.3 Assignment. Neither this Agreement nor the rights, duties and obligations of either
Party under this Agreement may be assigned, delegated or otherwise transferred by a Party, in whole or in part, by operation of law or otherwise, without the prior written consent of the other Party and any purported assignment in violation of the
foregoing is void; except that either Party may assign or otherwise transfer its rights and/or obligations under this Agreement without the other Party’s consent in the event of a merger, change of control or sale of all or substantially all of
the assets of such Party to which this Agreement relates. In addition, either Party may assign or otherwise transfer its rights, duties and/or obligations to a Subsidiary, provided that any such assignment shall not relieve the assignor from any
liability or obligations hereunder. Notwithstanding the foregoing, A.S.V. may assign any or all of its rights and obligations hereunder to any provider (or agent therefore) of debt financing to it or any of its Affiliates. 

10.4 Jurisdiction. Each of the parties irrevocably submits to the exclusive jurisdiction of the United States District Court for the
Southern District of New York located in the borough of Manhattan in the City of New York, or if such court does not have jurisdiction, the Supreme Court of the State of New York, New York County, for the purposes of any suit, action or other
proceeding arising out of this Agreement or any transaction contemplated hereby. Each of the parties further agrees that service of any process, summons, notice or document to such party’s respective address listed above in one of the manners
set forth in Section 10.7 of the Purchase Agreement shall be deemed in every respect effective service of process in any such suit, action or proceeding. Nothing herein shall affect the right of any Person to serve process in any other
manner permitted by Law. Each of the parties hereto irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in (a) the
United States District Court for the Southern District of New York or (b) the Supreme Court of the State of New York, New York County, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court
that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. The parties hereto hereby irrevocably and unconditionally waive trial by jury in any legal action or proceeding relating to this Agreement
or any other agreement entered into in connection therewith and for any counterclaim with respect thereto. 
 10.5 Entire Agreement;
Amendment; Waivers. This Agreement, together with all Exhibits hereto, constitute the entire agreement between the Parties pertaining to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions,
whether oral or written, of the Parties. The only representations and warranties made by the parties hereto with respect to the subject matter hereof are the representations and warranties contained in or made pursuant to this Agreement. This
Agreement, and the terms and provisions hereof, may not be modified, waived or amended except by an instrument or instruments in writing signed by the Party against whom enforcement of any such modification or amendment is sought (or, in the case of
a waiver, by the intended beneficiary of the waived term or provision). No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof
preclude any other or 

  
 9 

 
further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided
by law. 
 10.6 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by
any rule of law, or public policy, all other conditions and provision of this Agreement shall nevertheless remain in full force and effect. Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the
Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible. 

10.7 Construction. The headings of the Sections herein are inserted for convenience of reference only and are not intended to be a part
of or to affect the meaning or interpretation of this Agreement. When a reference is made to a Section, Schedule or Exhibit such reference shall be to a Section, Schedule or Exhibit of or to this Agreement unless otherwise indicated. The definitions
in this Agreement shall apply equally to both the singular and plural forms of the terms defined. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed
by the words “without limitation.” In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties hereto and no presumption or burden of proof shall arise
favoring or disfavoring any Party hereto by virtue of the authorship of any provisions of this Agreement. 
 10.8 Parties Obligated and
Benefited. This Agreement is binding upon the Parties hereto and their respective permitted assigns and successors in interest and will inure solely to the benefit of such Parties and their respective permitted assigns and successors in
interest, and no other Person. 
 10.9 Relationship. Nothing in this Agreement will be deemed or construed as creating a joint
venture or partnership between the Parties or is intended or shall be construed to create any third party beneficiaries. Neither Party is by virtue of this Agreement authorized as an agent, employee, or legal representative of the other Party, and
the relationship of the Parties is, and at all times will continue to be, that of independent contractors. 
 10.10 Counterparts.
This Agreement may be signed in any number of counterparts, each of which shall be deemed an original, with the same effect as if the signatures were upon the same instrument. 

10.11 Execution. This Agreement may be executed by facsimile signatures and such signature will be deemed binding for all purposes of
this Agreement, without delivery of an original signature being thereafter required. 
 10.12 Attorneys Fees. The prevailing party is
entitled to recover from the losing party the prevailing party’s attorneys’ fees and costs incurred in any arbitration, lawsuit or other action with respect to any claim arising out or relating to this Agreement. 

  
 10 

 10.13 Disputes. In the case of any disputes under this Agreement, the Parties hereto shall
first attempt in good faith to resolve such dispute informally; provided, however, that this Section 10.13 shall not be construed to alter or delay either Parties right to avail itself of the remedies and dispute resolution mechanisms
available to the Parties under this Agreement. 

  
 11 

 The Parties have executed this Agreement as of the date first above written. 

 

									
	A.S.V., INC.	 		 	TEREX CORPORATION
					
	By:	 	 /s/ ERIC I COHEN
  

 
	 		 	By:	 	 /s/ ERIC I COHEN
  

 

					
	Name:	 	 ERIC I COHEN
	 		 	Name:	 	 ERIC I COHEN

					
	Title:	 	 Vice President
	 		 	Title:	 	 Senior Vice President

 Signature Page to Services Agreement 

 AGREED TERMS 
  

 SCHEDULE 1 

HUMAN RESOURCES MANAGEMENT 
  

									
	 Service
	  	 Service Provider
	  	 Term
	  	 Specification
	  	 Cost

	Payroll staff and administration transition services	  	Terex	  	Terex will transmit payment instructions for the period ending December 19, 2014 on December 22, 2014. Payment to employees will occur on December 26, 2014.	  		  	Not applicable.
					
	Benefit Plan Transition Services	  	Terex	  	Employees will remain on health, dental and vision benefits only through December 31, 2014.	  		  	Terex’s cost for the period commencing as of Closing, as apportioned to A.S.V. according to Terex policy currently in place.
					
	Australian A.S.V. Employee Payroll and Benefits	  	Terex or Affiliate	  	The earlier of 120 days or such time as the employees transition to A.S.V.’s payroll and benefits.	  		  	Terex’s actual cost during the transition period.

 NOTES TO ANNEX 1 TO SCHEDULE 1 

SERVICES 
 The following additional services
shall be included in the service specifications set out above: 
  

	 	(a)	Provision of employee cellular phones as provided in Schedule 4. Limited period access to I-expense as provided in Schedule 4. 

  

	 	(b)	Determination of 2014 Management Incentive Bonus (MIB) and Shared Earnings Plan (SEP). Terex will be responsible for calculating MIB and SEP payments for qualified A.S.V. employees and providing such calculation to
A.S.V. A.S.V. will be responsible for paying the MIB and SEP to qualifying employees at not more than 100% of the accrued value of the MIB and SEP on the books of A.S.V. In the event that the MIB or SEP is in excess of the accrued amount, Terex
shall pay the difference above 100%. 

  
 Page 1 of 12 

 AGREED TERMS 
  

 SCHEDULE 2 

SOUTHAVEN 3PL PROVIDER– DESCRIPTION OF SERVICES 

Terex, through Terex Construction Americas in Southaven, Mississippi (“3PL Provider”), shall provide third party logistics and associated back
office services with respect to parts fulfilment and related services for the Business as described below and consistent with the historical past practice at Terex’s Southaven, location. The cost for such services shall be $[*] per
outbound/inbound shipping line (“3PL Cost Per Line”) with a [*]% annual escalation. Inbound/outbound freight charges shall be charged to A.S.V. on an actual basis if identifiable and if not identifiable, based on historical cost
allocation methodology. A.S.V. will not be charged additional freight for shipping errors made by 3PL Provider. Services shall be provided from the Closing Date until the fifth anniversary of the Closing Date (“Service Period”). The
provision of any services beyond the Service Period will only occur if mutually agreed to in writing by the parties. 
 If there are any services that Buyer
or A.S.V. would like to receive, or that the 3PL Provider believes to be reasonably necessary to provide, in order to maintain and support appropriate service levels as a result of changing business conditions, then such services shall only be
provided once the scope of such services and costs for such services are agreed to by the parties in writing as prescribed in the Agreement. 
  

					
	 Service and
Term
	  	 Specification
	  	 Cost

	 General 3 PL Services
  

Term: Five years from Closing Date per above
	  	 •     Key services comprise:

 
 •     3PL Provider
shall be the exclusive third party logistics provider for the Business (as such term is defined in the Purchase Agreement) in North America.
  

•     Order to delivery services and reverse logistics.

 
 •     Typical
customer service related functions such as order status, tracking, pricing, and parts identification.
  

•     Provision of inventory management services consistent with historical past
practice at the Southaven location subject to the Service Levels as described at the end of this Schedule.
	  	Included in Southaven 3PL Cost Per Line

 [* Indicates
portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.] 

  
 Page 2 of 12 

 AGREED TERMS 
  

					
	 Service and
Term
	  	 Specification
	  	 Cost

			
		  	 •     Back-end inventory
management services consistent with historical past practice at the Southaven location, including support processes including ECN (engineering change notice) process and related system updates, parts catalogues, operators’ manuals, distribution
notification and warranty services.
  

•     Provision of typical planning related functions with feedback and guidance from
Buyer /A.S.V.
  

•     At the end of the Service Period (including any extension or renewal of the
Service Period) when the final inventory items are to be shipped to Buyer or A.S.V., the 3PL Provider will pick, pack, and ship all the line items at the 3PL Provider’s actual cost including indirect overhead charges. Inventory items will be
appropriately labelled and packaged before shipping consistent with 3PL Provider’s past practice. The shipment of inventory will be sent to a location designated by Buyer or A.S.V. with transportation costs paid by Buyer or A.S.V.

 
 •     The parties
will work together to mutually agree on what reports shall be provided and at what frequencies the reports shall be provided by the 3PL Provider.
	  	
			
	 Technical
 Parts
	  	 •     Key services comprise:

 
 •     Provision of
technical support of field population (of machines) to distribution partners (dealers) and integration support to Buyer/A.S.V. process and function owners.
  

•     Part Number Identification.

 
 •     Technical
support for part selection and form/fit.
	  	Included in Southaven 3PL Cost Per Line

  
 Page 3 of 12 

 AGREED TERMS 
  

 SERVICE LEVELS 
  

	 	1)	The 3PL Provider will target performance at a level of 92.5% fill rate by line, which is consistent with the average historical fill rate by line of the Business. If A.S.V. wishes to increase the performance rate above
92.5%, the Parties will negotiate in good faith to determine a new 3PL Cost Per Line. The Service Provider will target maintenance of shipment precision of 97% based on the terms and conditions supplied to dealers (in by 3 p.m. and out by 10
p.m.). In addition, the desired inventory is expected to be $7.750M with +/- 5% tolerances. As part of the Agreement: 

 

	 	a.	The 3PL Provider and A.S.V. will work to support the fill rates at 92.5% and maintain shipment precision by taking commercially reasonable measures and mutually cooperating to resolve issues that face the Business.

  

	 	b.	The parties will work together to agree on what reports shall be provided and at what frequencies the reports shall be provided by the 3PL Provider. 

 

	 	c.	A.S.V may increase inventory levels at its discretion. 

  

	 	d.	The 3PL Provider shall be deemed to be in breach of the service levels (“Service Level Breach”) if it does not achieve the 92.5% fill rate for 2 consecutive months (unless such fill rate failure is a result of
the actions of A.S.V and its failure to take commercially reasonable measures to implement desired business actions as required by (a) above, in which case the 3PL Provider shall not be deemed to be in breach) or does not achieve shipment
precision of 97% for 2 consecutive months. 

  

	 	e.	Upon the first and successive months of Service Level Breach, A.S.V and the 3PL Provider will meet to determine the issues that are causing the Service Level Breach and use commercially reasonable efforts to remedy the
issues. 

  
 Page 4 of 12 

 AGREED TERMS 
  

 SCHEDULE 3 

WARRANTY AND FIELD SERVICE 
  

									
	 Service
	  	 Service

Provider
	  	 Term
	  	 Specification
	  	 Cost

	Warranty	  	Terex	  	Five years from Closing Date.	  	Provision of warranty support for field population of machines. Service Provider and A.S.V. to develop mutually agreeable warranty service protocol after Closing.	  	At the Service Provider’s actual cost (currently $[*] per hour for service and subject to [*]% annual escalation), plus additional incidental costs related to provision of warranty service support, e.g., travel
expenses.
					
	Field Service	  	Terex	  	Five years from Closing Date.	  	Provision of field service support for field population of machines out of warranty. Service Provider and A.S.V. to develop mutually agreeable field service protocol after Closing.	  	$[*] per hour of service time (subject to annual escalation of [*]%), plus additional incidental costs related to provision of field service support, e.g., travel expenses.

 [* Indicates portions of this exhibit that have been omitted and filed separately with the Securities and
Exchange Commission pursuant to a request for confidential treatment.] 

  
 Page 5 of 12 

 AGREED TERMS 
  

 SCHEDULE 4 

IT/ICT SERVICES 
 The following IT/ICT
services are not associated with the 3PL Provider Services set forth in Schedule 2, and are being provided to A.S.V. to support the uninterrupted continuation of business at A.S.V.’s principal site in Grand Rapids following Closing. 

 

									
	 Service
	  	 Service

Provider
	 	 Term
	 	 Specification
	 	 Cost

	Help Desk (Level 2) / Email / Corporate Software / Antivirus	  	Terex	 	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	 	 •   Key services comprise:

 
 •   Helpdesk Level 2
functions
  
 •   A.S.V. to
provide its own level 1 support team with an escalation path for troubleshooting and to access additional assistance from specialized teams within Terex IT such as GIOS for level 2 support

 
 •   A.S.V. IT resource(s)
continue to have access, and will continue to perform their basic management functions for Active Directory.
  

•   Email Access Support
  

•   Email functions for A.S.V. employees via Terex corporate email

 
 •   Support address
books/contact information
  

•   Support Calendars
  

•   Corporate Software and Antivirus

 
 •   Maintenance of licences
and contracts current with vendors for desktop applications and operating systems and office applications.
  

•   Support (updates, patches) and maintenance of end user software under corporate frame
contracts.
	 	$[*] per month per user

 [* Indicates portions of this
exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.] 

  
 Page 6 of 12 

 AGREED TERMS 
  

									
	 Service
	  	 Service

Provider
	  	 Term
	  	 Specification
	  	 Cost

	Generic IT Services
					
	 MPLS
 Connections
	  	Terex	  	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	  	 •  Key services comprise:

 
 •  Provision of contract and
technical support of MPLS connections.
  

•  While connected to the Terex MPLS network, all IT services will be provided in accordance to
applicable Terex Global IT policies and procedures in effect as of the Closing Date and as may be communicated to A.S.V. from time to time to reflect changes in Terex policy.
  

•  While connected to the Terex MPLS network, Buyer will not introduce any software or tools without
prior review and approval by Terex.
	  	At the Service Provider’s actual cost as supported by vendor invoices and apportioned to A.S.V. in accordance with Terex policies in effect at Closing.
					
	Site VPN Connections / End User Remote Access	  	Terex	  	Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.	  	 •  Key services comprise:

 
 •  Provision of technical support
for existing VPN connections / end users
	  	Included in MPLS costs.

  
 Page 7 of 12 

 AGREED TERMS 
  

									
	 Service
	  	 Service

Provider
	  	 Term
	  	 Specification
	  	 Cost

					
	Wireless/Cell Phone Data Exchange	  	Terex	  	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	  	 •  Key services comprise:

 
 •  Provision required contract and
technical support of cell phones and wireless connections until transferred to/terminated by A.S.V.
	  	 At the Service Provider’s actual cost as supported by vendor invoices and apportioned to A.S.V. in accordance with Terex policies in
effect at Closing

					
	Intercall	  	Terex	  	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	  	 •  Key services comprise:

 
 •  Provision of required contract
and technical support of collaboration services (audio conference, messaging systems) until transferred to/terminated by A.S.V.
	  	At the Service Provider’s actual cost as supported by vendor invoices and apportioned to A.S.V. in accordance with Terex policies in effect at Closing.

  
 Page 8 of 12 

 AGREED TERMS 
  

									
	Application Services
					
	 PFEP
  

Note: PFEP requires MPLS connectivity to remain active
	  	Terex	  	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	  	 •   Key services comprise:

 
 •   Support user access
requests.
  
 •   Provision
of ongoing user support.
	  	$[*] per month
					
	Terex Dealer Portal	  	Terex	  	Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.	  	 •   Key services comprise:

 
 •   Support user access
requests.
  
 •   Provision
of ongoing user support.
	  	Included in Corporate Software Charge

 [* Indicates portions of
this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.] 

  
 Page 9 of 12 

 AGREED TERMS 
  

									
	 Terex Sales &
 Marketing

Portal
	  	Terex	  	Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.	  	 •   Key services comprise:

 
 •   Support user access
requests.
  
 •   Provision
of ongoing user support.
	  	Included in Corporate Software Charge
					
	iExpense	  	Terex	  	The earlier of 60 days from Closing or until all expenses from transferred employees are processed by Terex.	  	 •   iExpense

 
 •   Oracle iExpense access to
process expenses for Terex employees incurred prior to Closing.
	  	Included in Corporate Software Charge
					
	PTC - CAD	  	Terex	  	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	  	 •   Existing PTC functionality and support for upgrades
	  	At the Service Provider’s actual cost as supported by vendor invoices and apportioned to A.S.V. in accordance with Terex policies in effect at Closing.

  
 Page 10 of 12 

 AGREED TERMS 
  

									
	 Microsoft
 Licenses
	  	Terex	  	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	  	 •   Utilize Terex Microsoft enterprise agreement for Microsoft Licenses
related to Operating Systems, Desktop Applications, Server Applications, Database Applications and Collaboration tools
	  	At the Service Provider’s actual cost as supported by vendor invoices and apportioned to A.S.V. in accordance with Terex policies in effect at Closing.
					
	 Terex
 Warranty

System
	  	Terex	  	 Commencing on the Closing date and continuing until cancelled by either party on three month’s written notice to the other party.

 
 The parties agree that they will undertake an annual review of the scope of the services
desired by A.S.V. and the cost to the Service Provider of providing such services, such that an arm’s length commercial relationship is maintained. If the parties are unable to come to an agreement regarding scope or cost, either party may
exercise its cancellation right.
	  	 •   Key services comprise:

 
 •   Support user access
requests.
  
 •   Provision
of ongoing user support including ongoing data upload / extract mechanisms.
	  	$[*] per month

 [* Indicates portions of this exhibit that have been omitted and filed separately with the Securities and
Exchange Commission pursuant to a request for confidential treatment.] 

  
 Page 11 of 12 

 AGREED TERMS 
  

 NOTES TO SCHEDULE 4 - COSTS 

 

	 	1.	In support of accounting, invoicing and other service administration costs incurred by Service Provider during its provision of the IT/ICT Services, a monthly administrative fee of $3,000 shall be applied.

  

	 	2.	To the extent A.S.V. requests services outside of the those provided for in Schedule 4, the Service Provider will review such requests on a case by case basis to determine if additional fees are required, and if so,
such services shall be subject to the following: 

  

	 	(a)	All service requests, including development, legacy data provision or data migration that are not part of Schedule 4 and are provided by Service Provider, will be billed at $125 per hour with payment due according to
the actual invoices presented by Service Provider to A.S.V. 

  

	 	(b)	Requests for additional third party services or associated licenses or hardware pertaining to IT support not included in Schedule 4 will be billed at third party pass-through costs for external third party time and
materials. A.S.V. will make payment to Service Provider according to actual invoices with supporting documentary evidence presented to A.S.V. 

  

	 	3.	The costs associated with making Southaven IT systems ready for use by A.S.V. are as follows: 

  

	 	(a)	Description: design and develop data extract logic and routines, transition system of record from TMS to PRMS; install, configure and test applications and hardware (including PRMS/WMS/Dealer On Line) to support
required functionality; convert, test and import master and transactional data; provision users. Total cost is $111,560, as further detailed below. 

  

	 	i.	Cost for Design and Develop Data Extract Logic and Routines, Transition system of record from TMS to PRMS: 

  

	 	1.	Three (functional and conversion) contractors * 30% utilization * 120 per hour * 40 hour work week * 8 total weeks = $34,560. 

  

	 	ii.	Cost to install, configure and test applications and hardware (including PRMS/WMS/Dealer On Line) to support required functionality; convert, test and import master and transactional data; Provision users:

  

	 	1.	2 AS400 (PRMS) Contract Programmers = $ 41,000; 1 Web (DOL) Contract Programmer = $ 6,000; warehouse equipment (Bar Code Printers, Scanners, etc.) = $30,000. 

 

	 	4.	Description: Physical segregation of A.S.V. parts at the Southaven warehouse. Segregation shall be implemented with effect from Closing and A.S.V. will be charged the actual cost, currently estimated to be $125,000 (as
provided by Neovia). 

  

	 	5.	Description: Physical segregation and shipment of parts from Charleston warehouse to A.S.V. in Grand Rapids. $3120 per load for attachments: two loads were shipped. $840 per machine: three machines shipped. Total =
$8760. 

  
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