Document:

Employment Agreement between Accellent Inc. and Dean E. Schauer

 Exhibit 10.23 
 Execution Version 
 EMPLOYMENT AGREEMENT 

 EMPLOYMENT AGREEMENT (the “Agreement”) entered into as of January 15, 2010 (the “Effective Date”) by
and between Accellent Inc. (the “Company”) and Dean Schauer (the “Executive”). 
 WHEREAS, the Company
desires to employ Executive and to enter into an agreement embodying the terms of such employment; 
 WHEREAS, Executive desires
to accept such employment and enter into such an agreement; 
 NOW THEREFORE, in consideration of the mutual covenants and
promises contained herein and for other good and valuable consideration, the parties agree as follows: 
 1. Term of
Employment. Subject to the provisions of Section 7 of this Agreement, Executive shall be employed by the Company for a period commencing on the date hereof (the “Commencement Date”), and ending on the [second]
anniversary thereof (the “Initial Term”) on the terms and subject to the conditions set forth in this Agreement. Following the Initial Term, the Agreement shall automatically be renewed for additional terms of one year on each
anniversary of the last day of the Initial Term (the Initial Term and any annual extensions of the term of this Agreement, together, the “Employment Term”), subject to Section 7 of this Agreement, unless the Company or the Executive
provides the other party with written notice at least sixty (60) days prior to the expiration of the Employment Term of the intent not to renew the Employment Term. Notwithstanding the foregoing, at the Company’s option, any notice of
nonrenewal given by the Company may specify that it is also a termination without Cause (as hereinafter defined) by the Company, to be effective as of the date such notice is given, in which case the Employment Term shall terminate immediately and
the thirty (30) day notice period shall be deemed to be waived by the Executive. 
 2. Position. 
 a. During the Employment Term, Executive shall serve as Executive Vice President, Engineering & Sales of the Company and its
subsidiaries. The Executive shall report to the Chief Executive Officer and the Board of Directors (the “Board”) of the Company. In such positions, Executive shall have such duties and authority commensurate with the position of an
executive vice president of a company of similar size and nature and as the Chief Executive Officer and the Board shall otherwise determine from time to time. The Executive shall primarily perform Executive’s duties hereunder from his home
office located in [                    ] (or at such other office location as may be within a fifty (50) mile radius from the Executive home
office in [                    ]), unless the Executive consents in writing to the relocation of the Company’s offices, in which case the
Executive shall primarily perform his duties hereunder at such new location(s). 
 b. During the Employment Term, Executive
will devote substantially all of Executive’s business time, and will devote Executive’s personal efforts, to the performance of Executive’s duties hereunder and will not engage in any other business, profession or occupation for
compensation or otherwise which would materially conflict or materially interfere with the rendition of

 
such services either directly or indirectly, without the prior written consent of the Board; provided, however, that nothing herein shall preclude Executive, (i) subject to the
prior approval of the Board, from accepting appointment to or continue to serve on any board of directors or trustees of any business corporation or any charitable organization or (ii) from managing Executive’s personal and family
investments; provided, however, in each case, and in the aggregate, that such activities do not materially conflict or materially interfere with the performance of Executive’s duties hereunder or conflict with Section 8.

 3. Base Salary. During the Employment Term, the Company shall pay Executive a base salary at the annual rate of
$275,000, payable in substantially equal periodic payments in accordance with the Company’s practices for other executive employees, as such practices may be determined from time to time. Executive shall be entitled to such increases in
Executive’s base salary, if any, as may be determined from time to time in the sole discretion of the Board. Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as the “Base Salary.” Once
increased, the Executive’s Base Salary shall not be decreased below such increased amount. 
 4. Annual Bonus. With
respect to each full fiscal year during the Employment Term, Executive shall be eligible to earn an annual bonus award (an “Annual Bonus”), with a target bonus amount equal to 50% of Executive’s Base Salary (the “Target
Bonus”) (with a maximum Annual Bonus amount not to exceed 150% of the Target Bonus) based upon the achievement of reasonable performance goals established by the Board, provided, that to the extent that any portion of the achievement of
the goals or amount of the Annual Bonus shall be based on a subjective criteria, that portion of the achievement of the goals or Annual Bonus shall be as determined in the sole, good faith discretion of the Board. In addition, in the sole discretion
of the Board, Executive may be eligible to earn an Annual Bonus in excess of the Target Bonus, up to one and one-half times the Target Bonus. In addition, the Board shall establish certain threshold performance goals, which the Company must achieve
before Executive shall be entitled to earn any Annual Bonus. All such Annual Bonus amounts shall otherwise be paid in accordance with the Company’s annual incentive plan or policy, subject to the terms of this Agreement. 
 5. Employee Benefits. During the Employment Term, Executive shall be entitled to participate in the Company’s employee benefit
plans as in effect from time to time (collectively “Employee Benefits”), on the same basis as those benefits are generally made available to other senior executives of the Company. In addition, Executive will be entitled to 4 weeks of paid
vacation for each full calendar year of the Employment Term, subject to the Company’s applicable vacation policies. 
 6.
Business Expenses. During the Employment Term, reasonable business expenses incurred by Executive in the performance of Executive’s duties hereunder shall be reimbursed by the Company in accordance with Company policies. 
 7. Termination. The Employment Term and Executive’s employment hereunder may be terminated by either party at any time and for
any reason; provided, however, that Executive will be required to give the Company at least thirty (30) days advance written notice of any resignation of Executive’s employment; provided, further,
however, that the Company may, in its discretion, waive all or any portion of such notice requirement. In the event that the Company waives all or any portion of such notice requirement and therefore causes Executive’s employment to be
terminated, in no event shall such waiver constitute a termination without Cause by the Company (as described in Section 7(c) below). In addition, Executive’s notice requirement hereunder shall be subject to the notice provisions of
Section 7(c) below. 
  

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 a. By the Company For Cause or By Executive Resignation Without Good Reason.

 (i) The Employment Term and Executive’s employment hereunder may be terminated by the Company for Cause (as defined
below) immediately, without prior written notice thereof, and shall terminate automatically (subject to the notice requirements, which may be waived by the Company, as described above in this Section 7) upon Executive’s resignation without
Good Reason (as defined in Section 7(c)). 
 (ii) For purposes of this Agreement, “Cause” shall mean
(A) Executive’s continued failure to substantially perform Executive’s duties hereunder (other than as a result of total or partial incapacity due to physical or mental illness) which is not cured within 15 days following receipt by
the Executive of written notice from the Company of such failure; provided that it is understood that this clause (A) shall not permit the Company to terminate Executive’s employment for Cause because of dissatisfaction with the quality of
services provided by or disagreement with the actions taken by Executive in the good faith performance of Executive’s duties to the Company, (B) an act or acts constituting a (x) felony, (y) a misdemeanor involving the Company
(z) misdemeanor not involving the Company, which results in material and demonstrable harm to the business or reputation of the Company, (iii) Executive’s willful malfeasance or misconduct or (iv) a breach by Executive of the
material terms of Section 8 of this Agreement. 
 (iii) If Executive’s employment is terminated by the Company for
Cause, or if Executive resigns without Good Reason, as hereinafter defined, then the Executive, subject to the Executive’s execution, delivery and non-revocation of an effective release of claims (in a form acceptable to the Company) in favor
of the Company and related parties within 45 days following the date of the termination of the Executive’s employment (which release of claims shall be delivered to the Executive within 5 days following the date of such termination) shall be
entitled to receive: 
 (A) the Base Salary through the date of termination and any accrued but unpaid vacation;

 (B) reimbursement for any unreimbursed business expenses properly incurred by Executive in accordance with
Company policy prior to the date of Executive’s termination; and 
 (C) such employee benefits (described in
Section 5(a) above), if any, as to which Executive may be entitled under the employee benefit plans of the Company (the amounts described in clauses (A) through (C) hereof being referred to as the “Accrued Rights”).

 Following such termination of Executive’s employment by the Company for Cause or resignation by Executive without Good
Reason, except as set forth in this Section 7(a)(iii), Executive shall have no further rights to any compensation or any other benefits under this Agreement other than for rights to indemnification and directors and officers liability insurance
as provided herein; provided, however, that the treatment of any equity rights held by Executive immediately prior to any such termination shall be subject to the applicable terms of the Management Equity Documents. 
  

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 b. Disability or Death. 
 (i) The Employment Term and Executive’s employment hereunder shall terminate upon Executive’s death and may be terminated by the
Company if a determination is made, at the request of Executive or upon the reasonable request of the Company set forth in a notice to Executive, by a physician selected by the Company and Executive, that Executive is unable to perform
Executive’s duties as an employee of the Company or its subsidiaries and in all reasonable medical likelihood such inability will continue for a period in excess of 180 consecutive days (such inability is hereinafter referred to as
“Disability” or being “Disabled”). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually
acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in
writing. The determination of Disability made in writing to the Company and Executive shall be final and conclusive for all purposes of the Agreement. Notwithstanding any such determination, in the event Executive is Disabled, the Company shall,
pursuant to a Company employee benefit plan or otherwise, cause Executive to continue to receive the then Base Salary (or such other salary continuation as may be provided pursuant to any Company employee benefit plan) and welfare benefits (in
accordance with the applicable Company employee benefit plan under which Executive receives such benefits immediately prior to such Disability) until the earlier to occur of (x) four months after the date Executive is determined to be Disabled
and (y) such time as Executive commences coverage pursuant to the Company’s long-term disability plan. 
 (ii) Upon
termination of Executive’s employment hereunder for either Disability or death, Executive or Executive’s estate (as the case may be) shall be entitled to receive: 
 (A) the Accrued Rights; and 
 (B) a lump sum pro rata portion of any Annual Bonus, if any, that Executive would have been entitled to receive pursuant to Section 4 hereof in such year based upon the percentage of the fiscal year
that shall have elapsed through the date of Executive’s termination of employment, payable when such Annual Bonus would have otherwise been payable had Executive’s employment not terminated, based on the Target for the fiscal year in which
termination occurs (the “Pro-Rata Bonus”) provided that the payment shall be made no later than March 15 following the year in which such termination occurs. 
 Following Executive’s termination of employment due to death or Disability, except as set forth in this Section 7(b)(ii),
Executive shall have no further rights to any compensation or any other benefits under this Agreement other than for rights to indemnification and directors and officers liability insurance as provided herein; provided, however, that
the treatment of any equity rights held by Executive immediately prior to any such termination shall be subject to the applicable terms of the Management Equity Documents. 
 c. By the Company Without Cause or Resignation by Executive for Good Reason. 
 (i) The Employment Term and Executive’s employment hereunder may be terminated by the Company without Cause, or by Executive’s
resignation for Good Reason (subject to the notice requirements, which may be waived by the Company, as described above in this Section 7, and to the provision of Section 7(c)(ii), below). In addition to the foregoing, a notice of
non-extension of the Employment Term by the Company shall be deemed to be a termination of the Executive’s employment without Cause as of the date the Company notifies Executive of such non-extension. 
  

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 (ii) For purposes of this Agreement, “Good Reason” shall mean,
without Executive’s consent, (A) a reduction in Executive’s base salary or annual bonus opportunity, (B) a substantial reduction in Executive’s duties, authorities, and responsibilities, (C) a transfer of
Executive’s primary workplace by more than fifty (50) miles from the Executives current work place of [                    ], or
(D) following a “Change in Control” (as defined in the Plan), a material adverse change in Executive’s aggregate duties and responsibilities from such aggregate duties and responsibilities in effect immediately prior to such
Change in Control, such that Executive does not continue employment in a role comparable to the position described in Section 2 hereof; provided that these events shall constitute Good Reason only if the Company fails to cure such event
within 30 days after receipt from Executive of written notice of the event which constitutes Good Reason; and provided, further, that “Good Reason” shall cease to exist for an event on the 60th day following the later of its occurrence or Executive’s
knowledge thereof, unless Executive has given the Company written notice thereof prior to such date. 
 (iii) If
Executive’s employment is terminated by the Company without Cause (other than by reason of death or Disability) or if Executive resigns for Good Reason, Executive shall be entitled to receive: 
 (A) the Accrued Rights; and 
 (B) subject to Executive’s continued compliance with the provisions of Section 8, payment in equal installments over twelve months of an amount equal to the sum of (x) Executive’s then
Base Salary and (y) Executive’s Annual Bonus, if any, earned or payable in respect of the fiscal year of the Company prior to the fiscal year in which the Executive’s employment is terminated; provided, however, that the
aggregate amount described in this subsection (B) shall be reduced by the present value of any other cash severance or termination benefits payable to Executive under any other plans, programs or arrangements of the Company or its affiliates,
with such reduction to be applied to each such installment equally, regardless of when such other benefits are payable; and provided, further, that if there occurs a Change in Control, and the Executive’s employment terminates
pursuant to this Section 7(c) within 24 months following such Change in Control, the amount to which Executive shall be entitled hereunder shall be paid in one lump sum. 
 Following Executive’s termination of employment by the Company without Cause (other than by reason of Executive’s death or Disability) or by Executive’s resignation for Good Reason, except
as set forth in this Section 7(c)(iii), Executive shall have no further rights to any compensation or any other benefits under this Agreement other than for rights to indemnification and directors and officers liability insurance as provided
herein; provided, however, that the treatment of any equity rights held by Executive immediately prior to any such termination shall be subject to the applicable terms of the Management Equity Documents. 
 d. Notice of Termination; Payment of Lump Sum Amounts. (i) Any purported termination of employment by the Company or by
Executive (other than due to Executive’s death) as set forth above in this Section 7 shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 10(h) hereof. For purposes of this
Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis
for termination of employment under the provision so indicated. Notwithstanding any other provision of this Agreement, the provisions of this Section 7 shall exclusively govern Executive’s rights upon termination of employment with the
Company and its affiliates. 
  

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 (ii) For purposes of this Section 7, all amounts required to be
paid in a lump sum pursuant to any subsection of this Section 7 shall be required to be made within thirty (30) business days after the date of the termination of Executive’s employment. Notwithstanding the provisions of this
Section 7(d)(ii), any amounts payable under this Section 7 that are subject to the execution of a release of claims by the Executive shall not be paid until the sixtieth (60th) calendar day after the date of termination of Executive’s employment, and then only if the Executive has in
fact executed and not revoked such release of claims. 
 8. Non-Competition. 
 a. Executive acknowledges and recognizes the highly competitive nature of the businesses of the Company and its affiliates and accordingly
agrees, effective as of the date of Executive’s commencement of employment with the Company, without the Company’s prior written consent, Executive shall not, directly or indirectly, (i) at any time during or after Executive’s
employment with the Company, disclose any Confidential Information pertaining to the business of the Company or any of its subsidiaries, except in connection with the performance of Executive’s duties hereunder as he deems in good faith
reasonably necessary or desirable, or when required by law, administrative or judicial process; or (ii) at any time during the Noncompete Period (as hereinafter defined) directly or indirectly, (A) be engaged in or have a financial
interest (other than a passive ownership position of less than 5% in any company whose shares are publicly traded or any non-voting non-convertible debt securities in any company or any investment the Executive owns through a mutual fund, private
equity fund or other pooled account) in any business which competes with a business of the Company or any of its subsidiaries, which business of the Company (or any of its subsidiaries) provided, at least five percent (5%) of the gross revenues
of the Company and its subsidiaries in the full fiscal year of the Company immediately preceding the fiscal year in which Executive’s termination of employment occurs or is expected to provide such level of gross revenues in the fiscal year of
such termination (any such business which so competes, a “Competitor”) or (B) solicit or offer employment to any person (other than Executive’s secretary or other personal assistant who reports directly to Executive) who has been
employed by the Company or any of its subsidiaries at any time during the six months immediately preceding the termination of Executive’s employment. Notwithstanding the foregoing, nothing herein shall prevent Executive from working for a,
subsidiary, division or other entity of an entity that controls, directly or indirectly, another subsidiary, division or other entity, that is a Competitor, so long as the entity, subsidiary or division by which Executive may be employed is not
itself a Competitor. If Executive is bound by any other agreement with the Company regarding the use or disclosure of confidential information, the provisions of this Agreement shall be read in such a way as to further restrict and not to permit any
more extensive use or disclosure of confidential information. For purposes of this Section 8, (x) “Noncompete Period” shall be defined as the period during which Executive continues to be employed by the Company and a period of
one year following the date Executive ceases for any reason to be employed by the Company, and (y) “Confidential Information” shall mean all non-public information concerning trade secret, know-how, software, developments, inventions,
processes, technology, designs, the financial data, strategic business plans or any proprietary or confidential information, documents or materials in any form or media, including any of the foregoing relating to research, operations, finances,
current and proposed products and services, vendors, customers, advertising and marketing, and other proprietary and confidential information of the Restricted Group, and “Restricted Group” shall mean, collectively, the Company, its
subsidiaries, Kohlberg Kravis Roberts & Co. L.P., and their respective affiliates. 
  

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 b. Notwithstanding clause (a) above, if at any time a court holds that the
restrictions stated in such clause (a) are unreasonable or otherwise unenforceable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographic area determined to be reasonable under such
circumstances by such court will be substituted for the stated period, scope or area. 
 c. The provisions of this
Section 8 are intended to supersede the terms contained in Section 24 of the Management Stockholders’ Agreement with respect to the restrictive covenants contained therein. 
 9. Specific Performance. Executive acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach
of any of the provisions of Section 8 would be inadequate and the Company would suffer irreparable damages as a result of such breach or threatened breach. In recognition of this fact, Executive agrees that, in the event of such a breach or
threatened breach, in addition to any remedies at law, the Company or its successors or assigns, without posting any bond, may, in addition to other rights and remedies existing in their favor, immediately apply to any court of competent
jurisdiction to equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available; provided, further, that in the event Executive actually
breaches any of the provisions of Section 8, in addition to the foregoing, the Company or its successors or assigns shall also be entitled to cease making any payments or providing any benefit otherwise required by this Agreement. 

10. Miscellaneous. 
 a. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles thereof. 
 b. Entire Agreement/Amendments. This Agreement contains the entire understanding of the parties with respect to the employment of
Executive by the Company. There are no restrictions, agreements, promises, warranties, covenants or undertakings between the parties with respect to the subject matter herein other than those expressly set forth herein. This Agreement may not be
altered, modified, or amended except by written instrument signed by the parties hereto. 
 c. No Waiver. The failure of
a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver of such party’s rights or deprive such party of the right thereafter to insist upon strict adherence to that term or any
other term of this Agreement. 
 d. Severability. In the event that any one or more of the provisions of this Agreement
shall be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby. 
 e. Assignment. This Agreement shall not be assignable by Executive. This Agreement may be assigned by the Company to a successor in
interest to substantially all of the business operations of the Company. The Company may also assign this Agreement to an affiliate. Upon such assignment, the rights and obligations of the Company hereunder shall become the rights and obligations of
such affiliate or successor person or entity. 
  

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 f. Mitigation/Set Off. The Company’s obligation to pay Executive the amounts
provided and to make the arrangements provided hereunder shall not be subject to set-off, counterclaim or recoupment of amounts owed by Executive to the Company or its affiliates except for any specific, stated amounts owed by the Executive to the
Company. In the event of any termination of employment hereunder, the Executive shall be under no obligation to seek other employment or mitigate and there shall be no offset against any amounts due Executive under this Agreement on account of any
remuneration attributable to any subsequent employment that Executive may obtain. 
 g. Indemnification. The Company
shall indemnify and hold harmless the Executive to the fullest extent permitted by law or the by-laws of the Company for any action or inaction of Executive while serving as an officer or director of the Company or, at the Company’s request, as
an officer or director of any other entity or as a fiduciary of any benefit plan, except for any activity by the Executive that constitutes gross negligence or is self-enriching. The Company shall cover the Executive under directors and officers
liability insurance both during and, while potential liability exists, after the Employment Term in the same amount and to the same extent as the Company covers its other senior officers and directors. 
 h. Arbitration. All disputes and controversies arising under or in connection with this Agreement, other than the seeking of
injunctive or equitable relief pursuant to Section 8 hereof, shall be settled by arbitration conducted before one arbitrator sitting in such location agreed to by the parties hereto, in accordance with the rules for expedited resolution of
commercial disputes of the American Arbitration Association then in effect. The determination of the arbitrator shall be final and binding on the parties. Judgment may be entered on the award of the arbitrator in any court having proper
jurisdiction. All expenses of such arbitration, including the fees and expenses of the counsel of the Executive, shall be reimbursed by the Company unless the arbitrator determines that the Company has prevailed in such arbitration in all material
respects, in which case the Executive shall bear Executive’s own legal fees, without reimbursement by the Company. 
 i.
Successors; Binding Agreement. This Agreement shall inure to the benefit of and be binding upon personal or legal representatives, executors, administrators, successors, heirs, distributes, devises and legatees. 
 j. Notice. For the purpose of this Agreement, notices and all other communications provided for in the Agreement shall be in writing
and shall be deemed to have been duly given when delivered by hand or overnight courier or three days after it has been mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set
forth below Agreement, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt. 
 If to the Company: 
 Accellent Inc. 
 Patricia McCall 
 Senior Vice President, Human Resources 
 Accellent 
 100 Fordham Road 
 Building C 
 Wilmington, MA 01887 
  

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 with copies to: 
 c/o Kohlberg Kravis Roberts & Co. L.P. 
 2800 Sand Hill Road, Suite 200 
 Menlo Park, California 94025 
 Attn: James C. Momtazee 

Facsimile: (650) 233-6584 
 If to Executive: 
 To the most recent address of Executive set forth in the
personnel records of the Company. 
 k. Executive Representation. Executive hereby represents to the Company that the
execution and delivery of this Agreement by Executive and the Company and the performance by Executive of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any employment agreement or other
agreement or policy to which Executive is a party or otherwise bound. 
 l. Cooperation. Executive shall provide
Executive’s reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) which relates to events occurring during Executive’s employment hereunder; provided that, the
Company shall pay all expenses related to the Executive’s cooperation. This provision shall survive any termination of this Agreement, without implication of the survival of any other provision of this Agreement. 
 m. Withholding Taxes. The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as
may be required to be withheld pursuant to any applicable law or regulation. 
 n. Compliance with IRC
Section 409A. Notwithstanding anything herein to the contrary, (i) if at the time of Executive’s termination of employment with the Company Executive is a “specified employee” as defined in Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”) and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any
accelerated or additional tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided
to Executive) until the date that is six months following Executive’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of the Code) and (ii) if any other payments of money or other
benefits due to Executive hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant
under Section 409A of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by the Board, that does not cause such an accelerated or additional tax. The Company shall
consult with Executive in good faith regarding the implementation of the provisions of this Section 10(n); provided that neither the Company nor any of its employees or representatives shall have any liability to Executive with respect
to thereto. For purposes of Section 409A of the Code, each payment made under this Agreement shall be designated as a “separate payment” within the meaning of the Section 409A of the Code, and references herein to
Executive’s “termination of employment” shall refer to Executive’s separation from service with the Company within the meaning of Section 409A. To the extent any reimbursements or in-kind benefits due to Executive under this
Agreement constitute “deferred compensation” under Section 409A of the Code, any such reimbursements or in-kind benefits shall be paid to Executive in a manner consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv). 

 

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 o. Counterparts. This Agreement may be signed in counterparts, each of which shall
be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 [Signatures on
next page.] 
  

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 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

							
	ACCELLENT INC.	  		  	Dean Schauer
			
	 /s/ Patricia McCall
	  		  	 /s/ Dean Schauer

	By:	  	Patricia McCall	  		  	
	Title:	  	Senior Vice President, Human Resources	  		  	

  

 11 of 11Guarantee, among the subsidiaries and Wells Fargo Capital Finance LLC

 Exhibit 10.25 
 Execution Copy 
 GUARANTEE 
 GUARANTEE dated as of January 29, 2010, made among each of the subsidiaries of the Borrower (as defined below) listed
on Annex A hereto (each such subsidiary individually, a “Subsidiary Guarantor” and, collectively, the “Subsidiary Guarantors”; the Subsidiary Guarantors and any additional Subsidiary that becomes party hereto are
referred to collectively as the “Guarantors”) and WELLS FARGO CAPITAL FINANCE, LLC, as collateral agent (in such capacity, the “Collateral Agent”) for the Secured Parties (as defined in the Credit Agreement dated as
of the date hereof (as the same may be amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the Lenders, WELLS FARGO CAPITAL FINANCE, LLC, as administrative agent (the
“Administrative Agent”) and as Collateral Agent, and WELLS FARGO CAPITAL FINANCE, LLC, as Lead Arranger and Bookrunner). 
 W I T N E S S E T H: 
 WHEREAS (a) pursuant to the Credit Agreement, the Lenders have severally agreed to make Loans to the Borrower and the Letter of Credit Issuer has agreed to issue Letters of Credit for the account of
the Borrower (collectively, the “Extensions of Credit”) upon the terms and subject to the conditions set forth therein and (b) one or more Lenders or Affiliates of Lenders may from time to time enter into Bank Product
Agreements (including Hedge Agreements) with the Borrower; 
 WHEREAS, each Subsidiary Guarantor is a Domestic Subsidiary of the
Borrower; 
 WHEREAS, the proceeds of the Extensions of Credit will be used in part to enable the Borrower to make valuable
transfers to the Subsidiary Guarantors in connection with the operation of their respective businesses; 
 WHEREAS, each
Guarantor acknowledges that it will derive substantial direct and indirect benefit from the making of the Extensions of Credit; and 
 WHEREAS, it is a condition precedent to the obligation of the Lenders and the Letter of Credit Issuer to make their respective Extensions of Credit to the Borrower under the Credit Agreement that the Guarantors shall have executed and
delivered this Guarantee to the Collateral Agent for the benefit of the Secured Parties; 
 NOW, THEREFORE, in consideration of
the premises and to induce the Administrative Agent, the Collateral Agent, the Lenders and the Letter of Credit Issuer to enter into the Credit Agreement and to induce the Lenders and the Letter of Credit Issuer to make their respective Extensions
of Credit to the Borrower under the Credit Agreement and to induce one or more Lenders or Affiliates of Lenders to enter into Bank Product Agreements (including Hedge Agreements) with the Borrower, the Guarantors hereby agree with the Collateral
Agent, for the benefit of the Secured Parties, as follows: 
 1. Defined Terms. 
 (a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 

 (b) As used herein, the term “Guaranteed Obligations” shall mean all of the
Obligations now or hereafter existing under any Credit Document, whether for principal, interest (including all interest that accrues after the commencement of any proceeding of the type described in Section 11.5 of the Credit Agreement (an
“Insolvency Proceeding”) irrespective of whether a claim therefor is allowed in such case or proceeding), fees, expenses or otherwise, and any and all expenses (including reasonable counsel fees and expenses) incurred by any Secured
Party in enforcing any rights under this Guarantee. Without limiting the generality of the foregoing, Guaranteed Obligations shall include all amounts that constitute part of the Guaranteed Obligations and would be owed by the Borrower to the Agent,
the Lenders or the Issuing Lender under any Loan Document but for the fact that they are unenforceable or not allowable, including due to the existence of a bankruptcy, reorganization or similar proceeding involving Borrower or any other guarantor.
Any reference in this Agreement or in the Credit Documents to the Guaranteed Obligations shall include all or any portion thereof and any extensions, modifications, renewals, or alterations thereof, both prior and subsequent to any Insolvency
Proceeding. 
 (c) (b) As used herein, the term “Secured Parties” means (i) the Lenders, (ii) the
Letter of Credit Issuer, (iii) the Swingline Lender, (iv) the Administrative Agent, (v) the Collateral Agent, (vi) the Bank Product Providers and the Hedge Providers, (vii) the beneficiaries of each indemnification
obligation undertaken by any Credit Party under any Credit Document and (ix) any successors, indorsees, transferees and assigns of each of the foregoing. 
 (d) The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Guarantee shall refer to this Guarantee as a whole and not to any particular
provision of this Guarantee, and Section references are to Sections of this Guarantee unless otherwise specified. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or.” 
 (e) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. 
 2. Guarantee. 
 (a) Each of the Guarantors hereby, jointly and severally, unconditionally and irrevocably, guarantees, as primary obligor and not merely as surety, to the Collateral Agent, for the benefit of the Secured Parties, (i) the prompt and
complete payment and performance when due (whether at the stated maturity, pursuant to a mandatory prepayment requirement, by acceleration or otherwise) of the Guaranteed Obligations, and (ii) the punctual and faithful performance, keeping,
observance, and fulfillment by the Borrower of all agreements, conditions, covenants, and obligations of Borrower contained in the Credit Agreement and under each of the Credit Documents. Each Guarantor, jointly and severally, hereby irrevocably and
unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Guarantors, with respect to the payment and performance of all of the Guaranteed Obligations, it being the intention of the parties
hereto that all the Guaranteed Obligations shall be the joint and several obligations of each Guarantor without preferences or distinction among them. 
 (b) Each Guarantor further jointly and severally agrees to pay any and all expenses (including all reasonable fees and disbursements of counsel) that may be paid or incurred by the Collateral Agent or any
other Secured Party in enforcing, or obtaining advice of counsel in respect of any rights with respect to, or collecting, any or all of the Guaranteed Obligations and/or enforcing or preserving any rights with respect to, or collecting any or all of
the Guaranteed Obligations and/or enforcing any rights with respect to, or collecting against the Guarantors under this Guarantee. 
  

 -2- 

 (c) Each Guarantor agrees that the Guaranteed Obligations may at any time and from time to
time exceed the amount of the liability of such Guarantor hereunder without impairing this Guarantee or affecting the rights and remedies of the Collateral Agent or any other Secured Party hereunder. 
 (d) No payment or payments made by the Borrower, any of the Guarantors, any other guarantor or any other Person or received or collected by
the Collateral Agent or any other Secured Party from the Borrower, any of the Guarantors, any other guarantor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time
in reduction of or in payment of the Guaranteed Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder, which shall, notwithstanding any such payment or payments, remain liable for the
Guaranteed Obligations up to the maximum liability of such Guarantor hereunder until the Obligations under the Credit Documents are paid in full, the Commitments are terminated and no Letters of Credit shall be outstanding. 
 (e) In the event that the Borrower fails to make any payment of any Guaranteed Obligations, on or prior to the due date thereof, or if the
Borrower shall fail to perform, keep, observe, or fulfill any other obligation referred to in clause (ii) of Section 2(a) of this Guarantee in the manner provided in the Credit Agreement or any other Credit Document, each Guarantor
immediately shall cause, as applicable, such payment in respect of the Guaranteed Obligations to be made or such obligation to be performed, kept, observed, or fulfilled. Each Guarantor agrees that whenever, at any time, or from time to time, it
shall make any payment to the Collateral Agent or any other Secured Party on account of its liability hereunder, it will notify the Collateral Agent in writing that such payment is made under this Guarantee for such purpose. 
 3. Right of Contribution. Each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its
proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder who has not paid its proportionate share of such payment. Each Guarantor’s right
of contribution shall be subject to the terms and conditions of Section 5 hereof. The provisions of this Section 3 shall in no respect limit the obligations and liabilities of any Guarantor to the Collateral Agent and the other Secured
Parties, and each Guarantor shall remain liable to the Collateral Agent and the other Secured Parties for the full amount guaranteed by such Guarantor hereunder. 
 4. Right of Set-off. In addition to any rights and remedies of the Secured Parties provided by law, each Guarantor hereby irrevocably authorizes each Secured Party at any time and from time to time
following the occurrence and during the continuance of an Event of Default without notice to such Guarantor or any other Guarantor, any such notice being expressly waived by each Guarantor, upon any amount becoming due and payable by such Guarantor
hereunder (whether at stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits,
indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Secured Party to or for the credit or the account of such Guarantor. Each Secured Party
shall notify such Guarantor promptly of any such set-off and the appropriation and application made by such Secured Party, provided that the failure to give such notice shall not affect the validity of such set-off and application. 
  

 -3- 

 5. No Subrogation. Notwithstanding any payment or payments made by any of the
Guarantors hereunder or any set-off or appropriation and application of funds of any of the Guarantors by the Collateral Agent or any other Secured Party, no Guarantor shall be entitled to be subrogated to any of the rights of the Collateral Agent
or any other Secured Party against the Borrower or any other Guarantor or any collateral security or guarantee or right of offset held by the Collateral Agent or any other Secured Party for the payment of the Guaranteed Obligations, nor shall any
Guarantor seek or be entitled to seek any contribution, exoneration, indemnity, subrogation or reimbursement, or any other similar claim, from the Borrower, any other Guarantor, or any other guarantor of the Obligations in respect of payments made
by such Guarantor hereunder, until all amounts owing to the Collateral Agent and the other Secured Parties by the Credit Parties on account of the Obligations under the Credit Documents are paid in full, the Commitments are terminated and no Letters
of Credit shall be outstanding. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all the Guaranteed Obligations shall not have been paid in full, such amount shall be held by such Guarantor in trust
for the Collateral Agent and the other Secured Parties, segregated from other funds of and such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Collateral Agent in the exact form received by such Guarantor (duly
indorsed by such Guarantor to the Collateral Agent, if required), to be applied against the Guaranteed Obligations, whether due or to become due, in such order as the Collateral Agent may determine. Notwithstanding anything to the contrary contained
in this Guarantee, no Guarantor shall exercise any rights of contribution, exoneration, indemnity, subrogation or reimbursement, or any other similar claim, and shall not proceed or seek recourse against or with respect to any property or asset of
the Borrower, any other Guarantor, or any other guarantor of the Obligations (including after payment in full of the Guaranteed Obligations) if all or any portion of the Obligations has been satisfied in connection with an exercise of remedies in
respect of the Equity Interests of the Borrower, such Guarantor, or such other guarantor whether pursuant to the Security Agreement, the Pledge Agreement, or otherwise. 
 6. Amendments, etc. with Respect to the Guaranteed Obligations; Waiver of Rights. Each Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any
Guarantor and without notice to or further assent by any Guarantor, (a) any demand for payment of any of the Guaranteed Obligations made by the Collateral Agent or any other Secured Party may be rescinded by such party and any of the Guaranteed
Obligations continued, (b) the Guaranteed Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole
or in part, be renewed, extended, increased, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents, the Letters of
Credit and any other documents executed and delivered in connection therewith and the Bank Product Agreements (including Hedge Agreements) and any other documents executed and delivered in connection therewith and any documents entered into with the
Bank Product Providers in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the
Collateral Agent (or the Required Lenders, as the case may be, or, in the case of any Bank Product Agreement (including any Hedge Agreement) or documents entered into with any Bank Product Provider in connection with treasury, depositary or cash
management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral
Agent or any other Secured Party for the payment of the Guaranteed Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or
insure any Lien at any time held by it as security for the Guaranteed Obligations or for this Guarantee or any property subject thereto. When making any demand hereunder against any Guarantor, the Collateral Agent or any other Secured Party may, but
shall be under no obligation to, make a similar demand on the Borrower or any Guarantor or other guarantor of the 
  

 -4- 

 
Obligations, and any failure by the Collateral Agent or any other Secured Party to make any such demand or to collect any payments from the Borrower or any Guarantor or other guarantor or any
release of the Borrower or any Guarantor or other guarantor shall not relieve any Guarantor in respect of which a demand or collection is not made or any Guarantor not so released of its joint and several obligations or liabilities hereunder, and
shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Agent or any other Secured Party against any Guarantor. For the purposes hereof, “demand” shall include the commencement and
continuance of any legal proceedings. 
 7. Guarantee Absolute and Unconditional. To the fullest extent permitted by
applicable law, each Guarantor waives: 
 (a) any and all (i) notice of the creation, existence, contraction, incurrence,
renewal, extension, amendment, waiver or accrual of any of the Guaranteed Obligations, (ii) notice of any loans or other financial accommodations made or extended under the Credit Agreement, (iii) notice of the amount of the Guaranteed
Obligations, subject, however, to such Guarantor’s right to make inquiry of Collateral Agent to ascertain the amount of the Guaranteed Obligations at any reasonable time, (iv) notice of any adverse change in the financial condition of the
Borrower or of any other fact that might increase such Guarantor’s risk hereunder, (v) notice of presentment for payment, demand, protest, and notice thereof as to any instrument among the Credit Documents, (vi) notice of any Default
or Event of Default under any of the Credit Documents, (vii) all other notices (except if such notice is specifically required to be given to such Guarantor under this Guarantee or any other Credit Documents to which such Guarantor is a party)
and demands to which such Guarantor might otherwise be entitled, (viii) notice of or proof of reliance by the Collateral Agent or any other Secured Party upon this Guarantee or acceptance of this Guarantee, the Guaranteed Obligations or any of
them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended, waived or accrued, in reliance upon this Guarantee, and (ix) all dealings between the Borrower and any of the Guarantors, on the one
hand, and the Collateral Agent and the other Secured Parties, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon this Guarantee. 
 (b) the right by statute or otherwise to require the Secured Parties to institute suit against the Borrower or any other guarantor or to
exhaust any rights and remedies which any Secured Party has or may have against Borrower or any other guarantor. In this regard, such Guarantor agrees that it is bound to the payment of each and all Guaranteed Obligations, whether now existing or
hereafter arising, as fully as if the Guaranteed Obligations were directly owing to the Secured Parties by such Guarantor. Guarantor further waives any defense arising by reason of any disability or other defense (other than the defense that the
Guaranteed Obligations shall have been fully and finally performed and indefeasibly paid in full in cash, to the extent of any such payment) of Borrower or by reason of the cessation from any cause whatsoever of the liability of Borrower in respect
thereof. 
 (c) (i) any right to assert to against any Secured Party any defense (legal or equitable), set-off, counterclaim, or
claim which such Guarantor may now or at any time hereafter have against Borrower or any other party liable to any Secured Party, (ii)any defense, set-off, counterclaim, or claim, of any kind or nature, arising directly or indirectly from the
present or future lack of perfection, sufficiency, validity, or enforceability of the Guaranteed Obligations or any security therefor, (iii) any right or defense arising by reason of any claim or defense based upon an election of remedies by
any Secured Party including any defense based upon an impairment or elimination of such Guarantor’s rights of subrogation, reimbursement, contribution, or indemnity of such Guarantor against Borrower or other guarantors or sureties,
(iv) the benefit of any statute of limitations affecting Guarantor’s liability hereunder or the enforcement thereof, and any act which shall defer or delay the operation of any statute of limitations applicable to the Guaranteed
Obligations shall similarly operate to defer or delay the operation of such statute of limitations applicable to such Guarantor’s liability hereunder. 
  

 -5- 

 (d) diligence, presentment, protest, demand for payment and notice of default or nonpayment
to or upon the Borrower or any of the Guarantors with respect to the Guaranteed Obligations. 
 Each Guarantor understands and agrees that this
Guarantee shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (a) the validity, regularity or enforceability of the Credit Agreement, any other Credit Document, any Letter of Credit or any Bank
Product Agreement (including any Hedge Agreement), any of the Guaranteed Obligations or any other collateral security therefor or guarantee or right of offset with respect thereto at any time or from time to time held by the Collateral Agent or any
other Secured Party, (b) any defense, set-off or counterclaim (other than a defense of payment or performance) that may at any time be available to or be asserted by the Borrower against the Collateral Agent or any other Secured Party or
(c) any other circumstance whatsoever (with or without notice to or knowledge of the Borrower or such Guarantor) that constitutes, or might be construed to constitute, an equitable or legal discharge of the Borrower for the Guaranteed
Obligations, or of such Guarantor under this Guarantee, in bankruptcy or in any other instance. This Guarantee includes Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying,
releasing, or renewing the Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guaranteed Obligations after prior Guaranteed Obligations have been satisfied in whole
or in part. When pursuing its rights and remedies hereunder against any Guarantor, the Collateral Agent and any other Secured Party may, but shall be under no obligation to, pursue such rights and remedies as it may have against the Borrower or any
other Person or against any collateral security or guarantee for the Guaranteed Obligations or any right of offset with respect thereto, and any failure by the Collateral Agent or any other Secured Party to pursue such other rights or remedies or to
collect any payments from the Borrower or any such other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Borrower or any such other Person or any such collateral
security, guarantee or right of offset, shall not relieve such Guarantor of any liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of the Collateral Agent and the
other Secured Parties against such Guarantor. This Guarantee shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Guarantor and the successors and assigns thereof, and shall inure to the
benefit of the Collateral Agent and the other Secured Parties, and their respective successors, indorsees, transferees and assigns, until all the Obligations under the Credit Documents shall have been satisfied by payment in full, the Commitments
shall be terminated and no Letters of Credit shall be outstanding (other than any Letters of Credit that shall have been cash collateralized or otherwise provided for in a manner satisfactory to the Letter of Credit Issuer in respect thereof),
notwithstanding that from time to time during the term of the Credit Agreement and any Bank Product Agreement (including any Hedge Agreement) the Credit Parties may be free from any Guaranteed Obligations. A Guarantor shall automatically be released
from its obligations hereunder and the Guarantee of such Guarantor shall be automatically released upon the consummation of any transaction permitted by the Credit Agreement as a result of which such Guarantor ceases to be a Domestic Subsidiary of
the Borrower. In connection with any such release, the Collateral Agent shall execute and deliver to any Guarantor, at such Guarantor’s expense, all documents that such Guarantor shall reasonably request to evidence such termination or release.
Any execution and delivery of documents pursuant to the preceding sentence of this Section 7 shall be without recourse to or warranty by the Collateral Agent. 
 8. Guaranteed Obligations Secured by a Mortgage or Deed of Trust. 
 (a) If
any of the Guaranteed Obligations or the obligations of any Guarantor under this Guarantee at any time are secured by a mortgage or deed of trust upon real property, the Collateral Agent or any Secured Party may elect, in its sole discretion, upon a
default with respect to the Guaranteed Obligations or the obligations of such Guarantor under this Guarantee, to foreclose such mortgage or deed

  

 -6- 

 
of trust judicially or nonjudicially in any manner permitted by law, before or after enforcing this Guarantee, without diminishing or affecting the liability of such Guarantor hereunder.
Guarantor understands that (i) by virtue of the operation of antideficiency law applicable to nonjudicial foreclosures, an election by the Collateral Agent or such Secured Party to nonjudicially foreclose on such a mortgage or deed of trust
probably would have the effect of impairing or destroying rights of subrogation, reimbursement, contribution, or indemnity of such Guarantor against the Borrower or other guarantors or sureties, and (ii) absent the waiver given by such
Guarantor herein, such an election would estop the Collateral Agent or such Secured Party from enforcing this Guarantee against Guarantor. Understanding the foregoing, and understanding that each Guarantor is hereby relinquishing a defense to the
enforceability of this Guarantee, each Guarantor hereby waives any right to assert the Collateral Agent or any Secured Party any defense to the enforcement of this Guarantee, whether denominated “estoppel” or otherwise, based on or arising
from an election by the Collateral Agent or such Secured Party to nonjudicially foreclose on any such mortgage or deed of trust or as a result of any other exercise of remedies, whether under a mortgage or deed of trust or under any personal
property security agreement. Each Guarantor understands that the effect of the foregoing waiver may be that such Guarantor may have liability hereunder for amounts with respect to which Guarantor may be left without rights of subrogation,
reimbursement, contribution, or indemnity against the Borrower or other guarantors or sureties. 
 (b) Without limiting the
generality of any other waiver or other provision set forth in this Guarantee, each Guarantor waives all rights and defenses that Guarantor may have if all or part of the Guaranteed Obligations are secured by real property. This means, among other
things: 
  

	 	1.	The Collateral Agent or any Secured Party may collect from any Guarantor without first foreclosing on any real or personal property collateral that may be pledged by
any Guarantor, the Borrower, or any other guarantor. 

  

	 	2.	If the Collateral Agent or any Secured Party forecloses on any real property collateral that may be pledged by any Guarantor, the Borrower or any other guarantor:

  

	 	a.	The amount of the Guaranteed Obligations or any obligations of any guarantor in respect thereof may be reduced only by the price for which that collateral is sold at
the foreclosure sale, even if the collateral is worth more than the sale price. 

  

	 	b.	The Collateral Agent may collect from any Guarantor even if the Collateral Agent or any Secured Party, by foreclosing on the real property collateral, has destroyed any
right any Guarantor may have to collect from the Borrower or any other Guarantor or other guarantor. 

 This is an
unconditional and irrevocable waiver of any rights and defenses Guarantor may have if all or part of the Guaranteed Obligations are secured by real property. 
 9. Reinstatement. This Guarantee shall continue to be effective, or be reinstated, as the case may be, if at any time payment, or any part thereof, of any of the Guaranteed Obligations is rescinded
or must otherwise be restored or returned by the Collateral Agent or any other Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or any Guarantor, or upon or as a result of the appointment of a
receiver, intervenor or conservator of or trustee or similar officer for, the Borrower or any Guarantor or any substantial part of its property, or otherwise, all as though such payments had not been made. 
  

 -7- 

 10. Payments. Each Guarantor hereby guarantees that payments hereunder will be paid
to the Collateral Agent without set-off or counterclaim in Dollars to the Administrative Agent’s Account. 
 11.
Representations and Warranties; Covenants. 
 (a) Each Guarantor hereby represents and warrants that the representations
and warranties set forth in Section 8 of the Credit Agreement as they relate to such Guarantor or in the other Credit Documents to which such Guarantor is a party, each of which is hereby incorporated herein by reference, are true and correct,
and the Collateral Agent and each other Secured Party shall be entitled to rely on each of them as if they were fully set forth herein. 
 (b) Each Guarantor hereby covenants and agrees with the Collateral Agent and each other Secured Party that, from and after the date of this Guarantee until the Obligations under the Credit Documents are
paid in full, the Commitments are terminated and no Letter of Credit remains outstanding, such Guarantor shall take, or shall refrain from taking, as the case may be, all actions that are necessary to be taken or not taken so that no violation of
any provision, covenant or agreement contained in Section 9 or 10 of the Credit Agreement, and so that no Default or Event of Default, is caused by any act or failure to act of such Guarantor or any of its Subsidiaries. 
 12. Authority of Agent. Each Guarantor acknowledges that the rights and responsibilities of the Collateral Agent under this Guarantee
with respect to any action taken by the Collateral Agent or the exercise or non-exercise by the Collateral Agent of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Guarantee
shall, as between the Collateral Agent and the other Secured Parties, be governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Collateral Agent and such
Guarantor, the Collateral Agent shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Guarantor shall be under any obligation, or entitlement, to make any
inquiry respecting such authority. 
 13. Notices. All notices, requests and demands pursuant hereto shall be made in
accordance with Section 13.2 of the Credit Agreement. All communications and notices hereunder to each Guarantor shall be given to it in care of the Borrower at the Borrower’s address set forth in Section 13.2 of the Credit Agreement.

 14. Counterparts. This Guarantee may be executed by one or more of the arties to this Guarantee on any number of
separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A set of the copies of this Guarantee signed by all the parties
shall be lodged with the Collateral Agent and the Borrower. 
 15. Severability. Any provision of this Guarantee that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 16.
Integration. This Guarantee represents the agreement of each Guarantor and the Collateral Agent with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Collateral Agent or any
other Secured Party relative to the subject matter hereof not expressly set forth or referred to herein or in the other Credit Documents. 
  

 -8- 

 17. Amendments in Writing; No Waiver; Cumulative Remedies. 
 (a) None of the terms or provisions of this Guarantee may be waived, amended, supplemented or otherwise modified except by a written
instrument executed by the affected Guarantor(s) and the Collateral Agent in accordance with Section 13.1 of the Credit Agreement. 
 (b) Neither the Collateral Agent nor any other Secured Party shall by any act (except by a written instrument pursuant to Section 17(a) hereof), delay, indulgence, omission or otherwise be deemed to
have waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default or in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent
or any other Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of
any other right, power or privilege. A waiver by the Collateral Agent or any other Secured Party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy that the Collateral Agent or any Secured
Party would otherwise have on any future occasion. 
 (c) The rights, remedies, powers and privileges herein provided are
cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. 
 18. Section Headings. The Section headings used in this Guarantee are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 
 19. Successors and Assigns. This Guarantee shall be binding upon the successors and assigns of each Guarantor and shall inure to the
benefit of the Collateral Agent and the other Secured Parties and their respective successors and assigns except that no Guarantor may assign, transfer or delegate any of its rights or obligations under this Guarantee without the prior written
consent of the Collateral Agent and any such prohibited assignment shall be absolutely void. 
 20. Additional
Guarantors. Each Subsidiary of the Borrower that is required to become a party to this Guarantee pursuant to Section 9.11 of the Credit Agreement shall become a Guarantor, with the same force and effect as if originally named as a Guarantor
herein, for all purposes of this Guarantee upon execution and delivery by such Subsidiary of a Supplement in the form of Annex B hereto. The execution and delivery of any instrument adding an additional Guarantor as a party to this Guarantee shall
not require the consent of any other Guarantor hereunder. The rights and obligations of each Guarantor hereunder shall remain in full force and effect notwithstanding the addition of any new Guarantor as a party to this Guarantee. 
 21. WAIVER OF JURY TRIAL. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH GUARANTOR AND THE COLLATERAL AGENT HEREBY
WAIVE THERE RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS GUARANTEE OR ANY OF THE OTHER CREDIT DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS,
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. EACH GUARANTOR AND THE COLLATERAL AGENT REPRESENT THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH
LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS GUARANTEE MAYBE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
  

 -9- 

 22. Submission to Jurisdiction. Waivers. Each Guarantor hereby irrevocably and
unconditionally: 
 (a) submits for itself and its property in any legal action or proceeding relating to this Guarantee and the
other Credit Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the
Southern District of New York and appellate courts from any thereof; 
 (b) consents that any such action or proceeding may be
brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim
the same; 
 (c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Guarantor at its address referred to in Section 13 or at such other address of which the Collateral Agent shall have been notified pursuant
thereto; 
 (d) agrees that nothing herein shall affect the right of the Collateral Agent or any other Secured Party to effect
service of process in any other manner permitted by law or shall limit the right of the Collateral Agent or any other Secured Party to sue in any other jurisdiction; and 
 (e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section 22 any special, exemplary, punitive or
consequential damages. 
 23. GOVERNING LAW. THE VALIDITY OF THIS GUARANTEE AND THE OTHER CREDIT DOCUMENTS
(UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER CREDIT DOCUMENT IN RESPECT OF SUCH OTHER CREDIT DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, AND THE RIGHTS OF THE PARTIES HERETO AND THERETO WITH RESPECT TO
ALL MATTERS ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  

 -10- 

 IN WITNESS WHEREOF, each of the undersigned has caused this Guarantee to be duly executed
and delivered as of the date first above written. 
  

					
	 ACCELLENT LLC
 AMERICAN TECHNICAL MOLDING, INC.
 BRIMFIELD ACQUISITION, LLC
 BRIMFIELD PRECISION, LLC
 CE HUNTSVILLE, LLC
 G&D, LLC
 KELCO ACQUISITION LLC
 MACHINING TECHNOLOGY GROUP, LLC
 MEDSOURCE
TECHNOLOGIES HOLDINGS, LLC
 MEDSOURCE TECHNOLOGIES PITTSBURGH, INC.
 MEDSOURCE TECHNOLOGIES, LLC
 MEDSOURCE TECHNOLOGIES, NEWTON INC.
 MEDSOURCE TRENTON LLC
 MICRO-GUIDE, INC.

NATIONAL WIRE & STAMPING, INC.
 NOBLE-MET LLC

 PORTLYN, LLC
 SPECTRUM MANUFACTURING,
INC.
 THERMAT ACQUISITION, LLC
 UTI
HOLDING COMPANY
 UTI HOLDINGS, LLC
 VENUSA, LTD.

			
	        By:	 		 	
		
		 	 /s/ Craig Campbell

		 	Name:	 	Craig Campbell
		 	Title:	 	Vice President & Assistant Treasurer

					
	 WELLS FARGO CAPITAL FINANCE, LLC,
as Collateral Agent

			
	        By:	 		 	
		
		 	 /s/ Todd R. Nakamoto

		 	Name:	 	Todd R. Nakamoto
		 	Title:	 	Senior Vice President

 ANNEX A TO 
 THE GUARANTEE 
 SUBSIDIARY GUARANTORS 
 ACCELLENT LLC 
 AMERICAN TECHNICAL MOLDING, INC.

 BRIMFIELD ACQUISITION, LLC 
 BRIMFIELD PRECISION, LLC 
 CE HUNTSVILLE, LLC 
 G&D, LLC 
 KELCO ACQUISITION, LLC 
 MACHINING TECHNOLOGY GROUP, LLC 
 MEDSOURCE TECHNOLOGIES HOLDINGS, LLC 
 MEDSOURCE TECHNOLOGIES PITTSBURGH, INC. 
 MEDSOURCE
TECHNOLOGIES, LLC 
 MEDSOURCE TECHNOLOGIES, NEWTON INC. 
 MEDSOURCE TRENTON LLC 
 MICRO-GUIDE, INC. 
 NATIONAL WIRE & STAMPING, INC. 
 NOBLE-MET
LLC 
 PORTLYN, LLC 
 SPECTRUM
MANUFACTURING, INC. 
 THERMAT ACQUISITION, LLC 
 UTI HOLDING COMPANY 
 UTI HOLDINGS, LLC 
 VENUSA, LTD. 

 ANNEX B TO 
 THE GUARANTEE 
 SUPPLEMENT NO. [    ] dated
as of [            ], 201[    ] (this “Supplement”) to the GUARANTEE dated as of January     , 2010, among each of the
subsidiaries of the Borrower listed on Annex A to the Guarantee (each such subsidiary individually, a “Subsidiary Guarantor” and, collectively, the “Subsidiary Guarantors”; the Subsidiary Guarantors and any
additional Subsidiary that becomes party thereto are referred to collectively as the “Guarantors”) and WELLS FARGO CAPITAL FINANCE, LLC, as collateral agent (in such capacity, the “Collateral Agent”) for the Secured
Parties (as defined in the Credit Agreement referred to below). 
 A. Reference is made to the Credit Agreement, dated as of
January     , 2010 (the “Credit Agreement”), among ACCELLENT INC., a Maryland corporation (the “Borrower”), the Lenders, WELLS FARGO CAPITAL FINANCE, LLC, as administrative agent (in such
capacity, the “Administrative Agent”) and as Collateral Agent, and WELLS FARGO CAPITAL FINANCE, LLC, as Lead Arranger and Bookrunner. 
 B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Guarantee. 
 C. The Guarantors have entered into the Guarantee in order to induce the Administrative Agent, the Collateral Agent, the Lenders and the
Letter of Credit Issuer to enter into the Credit Agreement and to induce the Lenders and the Letter of Credit Issuer to make their respective Extensions of Credit to the Borrower under the Credit Agreement and to induce one or more Lenders or
Affiliates of Lenders to enter into Bank Product Agreements (including Hedge Agreements) with the Borrower. Section 9.11 of the Credit Agreement and Section 19 of the Guarantee provide that additional Subsidiaries may become Guarantors
under the Guarantee by execution and delivery of an instrument in the form of this Supplement. Each undersigned Subsidiary (each a “New Guarantor”) is executing this Supplement in accordance with the requirements of the Credit
Agreement to become a Guarantor under the Guarantee in order to induce the Lenders and the Letter of Credit Issuer to make additional Extensions of Credit and as consideration for Extensions of Credit previously made. 
 Accordingly, the Collateral Agent and each New Guarantor agrees as follows: 
 SECTION 1. In accordance with Section 19 of the Guarantee, each New Guarantor by its signature below becomes a Guarantor under the
Guarantee with the same force and effect as if originally named therein as a Guarantor and each New Guarantor hereby (a) agrees to all the terms and provisions of the Guarantee applicable to it as a Guarantor thereunder and (b) represents
and warrants that the representations and warranties made by it as a Guarantor thereunder are true and correct on and as of the date hereof. Each reference to a Guarantor in the Guarantee shall be deemed to include each New Guarantor. The Guarantee
is hereby incorporated herein by reference. 
 SECTION 2. Each New Guarantor represents and warrants to the Collateral Agent and
the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 
 SECTION 3. This Supplement may be executed by one or more of the parties to this Supplement on any number of separate counterparts
(including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same

 
instrument. A set of the copies of this Supplement signed by all the parties shall be lodged with the Borrower and the Collateral Agent. This Supplement shall become effective as to each New
Guarantor when the Collateral Agent shall have received counterparts of this Supplement that, when taken together, bear the signatures of such New Guarantor and the Collateral Agent. 
 SECTION 4. Except as expressly supplemented hereby, the Guarantee shall remain in full force and effect. 
 SECTION 5. THE VALIDITY OF THIS SUPPLEMENT, THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, AND THE RIGHTS OF THE
PARTIES HERETO AND THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER AND THEREUNDER OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 6. Any provision of this Supplement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and in the Guarantee, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as
possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7. All notices, requests and demands pursuant
hereto shall be made in accordance with Section 13.2 of the Credit Agreement. All communications and notices hereunder to each New Guarantor shall be given to it in care of the Borrower at the Borrower’s address set forth in
Section 13.2 of the Credit Agreement. 
 SECTION 8. Each New Guarantor agrees to reimburse the Collateral Agent for its
out-of-pocket expenses in connection with this Supplement, including the fees, disbursements and other charges of counsel for the Collateral Agent. 
  

 -2- 

 IN WITNESS WHEREOF, each New Guarantor and the Collateral Agent have duly executed this
Supplement to the Guarantee as of the day and year first above written. 
  

					
	[NAME OF NEW GUARANTOR]
			
		 	By:	 	
			
		 		 	  

		 		 	Name:
		 		 	Title:
	
	 WELLS FARGO CAPITAL FINANCE, LLC,
as Collateral Agent

			
		 	By:	 	
			
		 		 	  

		 		 	Name:
		 		 	Title:

  

 -3-

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