Document:

Exhibit

Exhibit 10.3

UNIQUE FABRICATING, INC. 
2014 OMNIBUS PERFORMANCE AWARD PLAN
ISO AWARD AGREEMENT
Unique Fabricating, Inc., a Delaware corporation (the “Corporation”), pursuant to the terms of its 2014 Omnibus Performance Award Plan (the “Plan”) and the Incentive Stock Option Award attached to this ISO Award Agreement, hereby grants to the individual named below the option to purchase the number of shares of the Corporation’s Common Stock, also as is set forth below.  The terms of this ISO Award Agreement are subject to all of the provisions of the Plan and the attached Incentive Stock Option Award, with such provisions being incorporated herein by reference.
1.    Date of Grant:        August 17, 2015
2.    Name of Participant:    Thomas Tekiele
3.    Number of Shares:    20,000 of Common Stock
4.    Exercise Price:    $12.50 per Share of Common Stock.
5.    Vesting of Options:
	
		
	Vesting Date
	No. of Shares Vested

	August 17, 2015
	4,000

	August 17, 2016
	4,000

	August 17, 2017
	4,000

	August 17, 2018
	4,000

	August 17, 2019
	4,000

6.    Expiration Date:    August 17, 2025
The Participant acknowledges receipt of, and understands and agrees to be bound by all of the terms of, this ISO Award Agreement, the attached Incentive Stock Option Award and the Plan, and that the terms thereof supersede any and all other written or oral agreements between the Participant and the Corporation regarding the subject matter contained herein.
	
			
	UNIQUE FABRICATING, INC.
	 
	PARTICIPANT:

	BY: /s/ John Weinhardt
	 
	BY: /s/ Thomas Tekiele

	TITLE:         DATE:
	 
	TITLE:         DATE:

INCENTIVE STOCK OPTION AWARD
THIS AGREEMENT made as of the grant date set forth in Section 1 of the ISO Award Agreement to which this Agreement is attached (the “Date of Grant”) between Unique Fabricating, Inc., a Delaware corporation (hereinafter referred to as the “Corporation”), and the individual identified in Section 2 of the ISO Award Agreement to which this Agreement is attached (hereinafter referred to as the “Participant”).

W I T N E S S E T H:
WHEREAS, the Corporation desires, in connection with the employment of the Participant and in accordance with its 2014 Omnibus Performance Award Plan (the “Plan”), to provide the Participant with an opportunity to acquire Common Stock of the Corporation on favorable terms and thereby increase his proprietary interest in the continued progress and success of the business of the Corporation;
NOW, THEREFORE, in consideration of the premises, the mutual covenants herein set forth and other good and valuable consideration, the Corporation and the Participant hereby agree as follows:
1.Confirmation of Grant of Option.  Pursuant to a determination by the Committee, the Corporation, subject to the terms of the Plan and this Agreement, hereby grants to the Participant as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services, the right to purchase (hereinafter referred to as the “Option”) an aggregate number of shares of Common Stock as is set forth in Section 3 of the attached ISO Award Agreement, subject to adjustment as provided in the Plan (such shares, as adjusted, hereinafter being referred to as the “Shares”).  The Option is intended to qualify as an incentive stock option under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). 
2.    Purchase Price.  The purchase price of shares of Common Stock covered by the Option will be the per share amount set forth in Section 4 of the attached ISO Award Agreement, at all times being not less than 100% of the Fair Market Value of one share of Common Stock on the Date of Grant, subject to adjustment as provided in the Plan.
3.    Exercise of Option.  The Option shall be exercisable on the terms and conditions hereinafter set forth:
(a)    The Option shall become exercisable cumulatively as to the number of Shares originally subject thereto (after giving effect to any adjustment pursuant to the Plan), and on the dates, as set forth in Section 5 of the attached ISO Award Agreement.
(b)    The Option may be exercised pursuant to the provisions of this Section 3, by notice and payment to the Corporation as provided in Sections 9 and 13 hereof.
4.    Term of Option.  The term of the Option shall be the period of years from the Date of Grant as is set forth in Section 1 of the attached ISO Award Agreement and shall expire 

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on the date set forth in Section 6 of the ISO Award Agreement, subject to earlier termination or cancellation as provided in this Agreement. 
5.    Non transferability of Option.  The Option shall not be assigned, transferred or otherwise disposed of, or pledged or hypothecated in any way, and shall not be subject to execution, attachment or other process, except as may be provided in the Plan.  Any assignment, transfer, pledge, hypothecation or other disposition of the Option attempted contrary to the provisions of the Plan, or any levy of execution, attachment or other process attempted upon the Option, will be null and void and without effect.  Any attempt to make any such assignment, transfer, pledge, hypothecation or other disposition of the Option will cause the Option to terminate immediately upon the happening of any such event; provided, however, that any such termination of the Option under the foregoing provisions of this Section 5 will not prejudice any rights or remedies which the Corporation or any Affiliate may have under this Agreement or otherwise.
6.    Exercise Upon Termination of Service.  (A)  If the Participant at any time incurs a Termination of Service (i) by reason of his discharge for Cause or (ii) due to his voluntary Termination of Service without the written consent of the Committee, the Option shall, at the time of such Termination of Service, terminate and the Participant shall forfeit all rights hereunder.  If, however, the Participant for any other reason (other than Disability or death) incurs a Termination of Service, the Option may, subject to the provisions of Section 5 hereof, be exercised by the Participant to the same extent the Participant would have been entitled under Section 3 hereof to exercise the Option immediately prior to such Termination of Service, at any time within 90 days after such Termination of Service, at the end of which period the Option, to the extent not then exercised, shall terminate and the Participant shall forfeit all rights hereunder, even if the Participant subsequently returns to the Service of the Corporation or any Affiliate.  In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
(a)    The Option shall not be affected by any change of duties or position of the Participant so long as he continues to be in full-time Service of the Corporation or of any Affiliate thereof.  If the Participant is granted a temporary leave of absence of 90 days or less, such leave of absence shall be deemed a continuation of his Service by the Corporation or of any Affiliate thereof for the purposes of this Agreement, but only if and so long as the corporation consents thereto.
7.    Exercise Upon Death or Disability.  (A)  If the Participant dies while he is in the Service of the Corporation or of any Affiliate, and on or after the first date upon which he would have been entitled to exercise the Option under the provisions of Section 3 hereof, the Option may, subject to the provisions of Section 5 hereof, be exercised to the same extent the Participant would have been entitled under Section 3 hereof to exercise the Option immediately prior to his death, by the estate of the Participant (or by the person or persons who acquire the right to exercise the Option by written designation of the Participant) at any time within one year after the death of the Participant, at the end of which period the Option, to the extent not then exercised, shall terminate and the estate or other beneficiaries shall forfeit all rights hereunder.  In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
(a)    In the event that the Participant incurs a Termination of Service by reason of the Disability of the Participant on or after the first date upon which he would have been 

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entitled to exercise the Option under the provisions of Section 3 hereof, the Option may, subject to the provisions of Section 5 hereof, be exercised to the same extent the Participant would have been entitled under Section 3 hereof to exercise the Option immediately prior to his employment termination due to Disability by the Participant within the period ending one year after the date of such Termination of Service, at the end of which period the Option, to the extent not then exercised, shall terminate and the Participant shall forfeit all rights hereunder even if the Participant subsequently returns to the Service of the Corporation or any Affiliate.  In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
8.    Registration.  At the time of issuance, the shares of Common Stock subject hereto and issuable upon the exercise hereof may not be registered under the Securities Act of 1933, as amended, and, if required upon the request of counsel to the Corporation, the Participant will give a representation as to his investment intent with respect to such shares prior to their issuance. The Corporation may register or qualify the shares covered by the Option for sale pursuant to the Securities Act of 1933, as amended, at any time prior to or after the exercise in whole or in part of the Option.
9.    Method of Exercise of Option.  (A)  Subject to the terms and conditions of this Agreement, the Option shall be exercisable by notice in the manner set forth in Exhibit “A” hereto (the “Notice”) and provision for payment to the Corporation in accordance with the procedure prescribed herein.  Each such Notice shall:
(i)    state the election to exercise the Option and the number of Shares with respect to which it is being exercised;
(ii)    contain a representation and agreement as to investment intent, if required by counsel to the Corporation with respect to such Shares, in a form satisfactory to counsel to the Corporation;
(iii)    be signed by the Participant or the person or persons entitled to exercise the Option and, if the Option is being exercised by any person or persons other than the Participant, be accompanied by proof, satisfactory to counsel to the Corporation, of the right of such other person or persons to exercise the Option; 
(iv)    include payment of the full purchase price for the shares of Common Stock to be purchased pursuant to such exercise of the Option; and
(v)    be received by the Corporation on or before the date of the expiration of this Option.  In the event the date of expiration of this Option falls on a day which is not a regular business day at the Corporation’s executive office in Auburn Hills, Michigan then such written Notice must be received at such office on or before the last regular business day prior to such date of expiration.
(b)    Payment of the purchase price of any shares of Common Stock, in respect of which the Option shall be exercised, shall be made by the Participant or such person or persons at the place specified by the Corporation on the date the Notice is received by the Corporation (i) by delivering to the Corporation a certified or bank cashier’s check payable to the order of the 

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Corporation, (ii) by delivering to the Corporation properly endorsed certificates of shares of Common Stock (or certificates accompanied by an appropriate stock power) with signature guaranties by a bank or trust company, or (iii) by any combination of the foregoing.  For purposes of the immediately preceding sentence, an exercise effected by the tender of Common Stock (or deemed to be effected by the tender of Common Stock) may only be consummated with Common Stock held by the Participant for a period of six (6) months or acquired by the Participant other than under the Plan (or a similar plan maintained by the Corporation).
(c)    The Option shall be deemed to have been exercised with respect to any particular shares of Common Stock if, and only if, the preceding provisions of this Section 9 and the provisions of Section 10 hereof shall have been complied with, in which event the Option shall be deemed to have been exercised on the date the Notice was received by the Corporation. Anything in this Agreement to the contrary notwithstanding, any Notice given pursuant to the provisions of this Section 9 shall be void and of no effect if all of the preceding provisions of this Section 9 and the provisions of Section 10 shall not have been complied with.
(d)    The certificate or certificates for shares of Common Stock as to which the Option shall be exercised will be registered in the name of the Participant (or in the name of the Participant’s estate or other beneficiary if the Option is exercised after the Participant’s death), or if the Option is exercised by the Participant and if the Participant so requests in the notice exercising the Option, will be registered in the name of the Participant and another person jointly, with right of survivorship and will be delivered as soon as practical after the date the Notice is received by the Corporation (accompanied by full payment of the exercise price), but only upon compliance with all of the provisions of this Agreement.
(e)    If the Participant fails to accept delivery of and pay for all or any part of the number of Shares specified in such Notice, his right to exercise the Option with respect to such undelivered Shares may be terminated in the sole discretion of the Committee.  The Option may be exercised only with respect to full Shares.
(f)    The Corporation shall not be required to issue or deliver any certificate or certificates for shares of its Common Stock purchased upon the exercise of any part of the Option prior to the payment to the Corporation, upon its demand, of any amount requested by the Corporation for the purpose of satisfying its minimum statutory liability, if any, to withhold federal, state or local income or earnings tax or any other applicable tax or assessment (plus interest or penalties thereon, if any, caused by a delay in making such payment) incurred by reason of the exercise of this Option or the transfer of shares thereupon.  Such payment shall be made by the Participant in cash or, with the written consent of the Corporation, by tendering to the Corporation shares of Common Stock equal in value to the amount of the required withholding.  In the alternative, the Corporation may, at its option, satisfy such withholding requirements by withholding from the shares of Common Stock to be delivered to the Participant pursuant to an exercise of the Option a number of shares of Common Stock equal in value to the amount of the required withholding.
10.    Approval of Counsel.  The exercise of the Option and the issuance and delivery of shares of Common Stock pursuant thereto shall be subject to approval by the Corporation’s counsel of all legal matters in connection therewith, including, but not limited to, compliance with the requirements of the Securities Act of 1933, as amended, and the Securities 

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Exchange Act of 1934, as amended, and the rules and regulations thereunder, and the requirements of any stock exchange or automated trading medium upon which the Common Stock may then be listed or traded.
11.    Reservation of Shares.  The Corporation shall at all times during the term of the Option reserve and keep available such number of shares of Common Stock as will be sufficient to satisfy the requirements of this Agreement.
12.    Limitation of Action.  The Participant and the Corporation each acknowledges that every right of action accruing to him or it, as the case may be, and arising out of or in connection with this Agreement against the Corporation or an Affiliate, on the one hand, or against the Participant, on the other hand, shall, irrespective of the place where an action may be brought, cease and be barred by the expiration of three years from the date of the act or omission in respect of which such right of action arises.
13.    Notices.  Each notice relating to this Agreement shall be in writing and delivered in person, by recognized overnight courier or by certified mail to the proper address.  All notices to the Corporation or the Committee shall be addressed to them at 800 Standard Parkway, Auburn Hills, Michigan 48326, Attn:  Chief Financial Officer.  All notices to the Participant shall be addressed to the Participant or such other person or persons at the Participant’s address set forth in the Corporation’s records.  Anyone to whom a notice may be given under this Agreement may designate a new address by notice to that effect.
14.    Benefits of Agreement.  This Agreement shall inure to the benefit of the Corporation, the Participant and their respective heirs, executors, administrators, personal representatives, successors and permitted assignees.
15.    Severability.  In the event that any one or more provisions of this Agreement shall be deemed to be illegal or unenforceable, such illegality or unenforceability shall not affect the validity and enforceability of the remaining legal and enforceable provisions hereof, which shall be construed as if such illegal or unenforceable provision or provisions had not been inserted.
16.    Governing Law.  This Agreement will be construed and governed in accordance with the laws of the State of Delaware without regard to its principles of conflicts of law. In the event that either party is compelled to bring a claim related to this Agreement, to interpret or enforce the provisions of the Agreement, to recover damages as a result of a breach of the Agreement, or from any other cause (a “Claim”), such Claim must be processed in the manner set forth below:
(i)    THE SOLE AND EXCLUSIVE METHOD TO RESOLVE ANY CLAIM IS ARBITRATION, EACH PARTY WAIVES THE RIGHT TO A JURY TRIAL OR COURT TRIAL.  Neither party shall initiate or prosecute any lawsuit in any way related to any Claim covered by this Agreement.
(ii)    The arbitration shall be binding and conducted before a single arbitrator in accordance with the then-current JAMS Arbitration Rules and Procedures for Employment Disputes or the appropriate governing body, as modified by the terms and 

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conditions of this paragraph.  Venue for any arbitration pursuant to this Agreement will lie in Auburn Hills, Michigan.  The arbitrator will be selected by mutual agreement of the parties or, if the parties cannot agree, then by striking from a list of arbitrators supplied by JAMS or the appropriate governing body.  The Corporation shall pay the arbitrator’s fees and arbitration costs (recognizing that each side bears the cost of its own deposition(s), witness, expert and attorneys’ fees and other expenses as and to the same extent as if the matter were being heard in a court of law).  Upon the conclusion of the arbitration hearing, the arbitrator shall issue a written opinion revealing, however briefly, the essential findings and conclusions upon which the arbitrator’s award is based.  The award of the arbitrator shall be final and binding. Judgment upon any award may be entered in any court having jurisdiction thereof.
17.    Disposition of Shares.  By accepting this Agreement, the Participant agrees that in the event he shall dispose (whether by sale, exchange, gift or any like transfer) of any shares of Common Stock of the Corporation (to the extent such shares are deemed to have been purchased pursuant to this incentive stock option) acquired by him pursuant hereto within two years of the Date of Grant of this Option or within one year after the acquisition of such shares pursuant hereto, he will notify the Chief Financial Officer of the Corporation no later than 15 days from the date of such disposition of such date or dates and the number of shares disposed of by him and the consideration received, if any, and, upon notification from the Corporation, promptly forward to the Chief Financial Officer of the Corporation any amount requested by the Corporation for the purpose of satisfying its liability, if any, to withhold federal, state or local income or earnings tax or any other applicable tax or assessment (plus interest or penalties thereon, if any, caused by any delay in making such payment) incurred by reason of such disposition.
18.    Acknowledgment of Participant.  THE PARTICIPANT REPRESENTS AND WARRANTS THAT AS OF THE DATE OF GRANT OF THE OPTION, HE DOES NOT OWN (WITHIN THE MEANING OF SECTION 422(B)(6) OF THE CODE) SHARES POSSESSING MORE THAN 10% OF THE TOTAL COMBINED VOTING POWER OF ALL CLASSES OF SHARES OF THE CORPORATION OR OF ANY AFFILIATE.
19.    Service.  Nothing contained in this Agreement shall be construed as (a) a contract of employment between the Participant and the Corporation or any Affiliate, (b) a right of the Participant to be continued in the Service of the Corporation or of any Affiliate, or (c) a limitation of the right of the Corporation or of any Affiliate to discharge the Participant at any time, with or without cause (subject to any applicable employment agreement).
20.    Definitions.  Unless otherwise defined herein, all capitalized terms used in this Agreement shall have the same definitions as set forth in the Plan.
21.    Incorporation of Terms of Plan.  This Agreement shall be interpreted under, and subject to, all of the terms and provisions of the Plan, which are incorporated herein by reference.
22.    No Strict Construction.  The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall apply against any party.

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BY WAY OF THEIR EXECUTION OF THE ISO AWARD AGREEMENT TO WHICH THIS AGREEMENT IS ATTACHED, the Corporation and the Participant (and each and every one of their heirs, successors and assigns) agree to be bound by each and every one of the terms set forth in this Agreement.

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EXHIBIT A
INCENTIVE OPTION EXERCISE FORM
[DATE]
Unique Fabricating, Inc. 
800 Standard Parkway 
Auburn Hills, MI 48326| 
Attention:  Thomas P. Tekiele
Dear Sirs:
Pursuant to the provisions of the Incentive Stock Option Award and related ISO Award Agreement dated August 17, 2015 (collectively, the “Agreement”), whereby you have granted to me an Incentive Stock Option (the “Option”) to purchase up to 20,000 shares of the Common Stock of Unique Fabricating, Inc. (the “Corporation”) subject to the terms of the Agreement, I hereby notify you that I elect to exercise  my option to purchase [     ] of the shares of Common Stock covered by such Option at the $12.50 per share price specified therein. In full payment of the price for the shares being purchased hereby, I am delivering to you herewith (i) certified or bank cashier’s check payable to the order of the Corporation in the amount of $____________, or (ii) a certificate or certificates for [   ] shares of Common Stock of the Corporation, and which have a fair market value as of the date hereof of $___________, [and a certified or bank cashier’s check, payable to the order of the Corporation, in the amount of $________________].  Any such stock certificate or certificates are endorsed, or accompanied by an appropriate stock power, to the order of the Corporation, with my signature guaranteed by a bank or trust company or by a member firm of the New York Stock Exchange.  [I hereby acknowledge that I am purchasing these shares for investment purposes only and not for resale in violation of any federal or state securities laws.]
Very truly yours,

______________________________
[Address]
(For notices, reports, dividend checks and other communications to stockholders.)

9Exhibit

Consulting Agreement

November 16, 2015
    
Clay H. Kiefaber
[Address]
    
Re:    Consulting Agreement

Dear Clay:

This agreement (the “Agreement”) sets forth the terms upon which you will provide services to Colfax Corporation (the “Company”) as an independent contractor commencing on January 1, 2016 (the “Effective Date”), following the termination of your employment under Section 4 of the Executive Employment Agreement (as defined in Section 12 hereof) and retirement in connection therewith effective at the end of the day on December 31, 2015.  

1.Engagement.  During the Term (as defined in Section 2 hereof), you will serve as a consultant to the Company and will be reasonably available to perform services as reasonably requested by the Board of Directors and/or the Chief Executive Officer of the Company.  Such services will include, but not be limited to, providing transition advice to the Board of Directors and the Chief Executive Officer of the Company (the “Services”).  You will perform the Services (a) on dates and times that you and the Company may from time to time reasonably agree, and (b) at the Company’s offices or at such other locations that you and the Company may from time to time reasonably agree.  Your Services shall not exceed fifty percent (50%) of the average level of services you have previously provided as an employee of the Company.  During the time that you are not providing the Services to the Company and its affiliates, you may accept other engagements and may participate in any other activities without obtaining the Company’s approval thereof; provided, however, that such other engagements and activities do not violate any Company policies, the terms of this Agreement or the surviving terms of the Executive Employment Agreement and do not prevent or interfere with your ability to provide the Services hereunder.

2.Term.  The term of this Agreement and your consulting arrangement hereunder will begin on the Effective Date and will end on February 26, 2016 (such period, the “Term”), unless earlier terminated by either party.  On such termination, all earned, accrued, but unpaid, fees and reasonable out-of-pocket expenses hereunder will be due and payable to you, and for the avoidance of doubt, no further fees, expenses or other amounts will be payable hereunder.  

3.Termination.  Your consulting relationship and this Agreement may be terminated at any time for any reason by you, provided that you will be required to give at least ten (10) days advance written notice of any termination of the Services during the Term.

4.Fees.  The Company agrees to pay you a calendar-based monthly fee for January and February in the amount of twenty thousand dollars ($20,000.00) per month during the Term for the Services.  The Company will not withhold any federal, state or local taxes or other withholdings from the fees payable to you hereunder, and all local, state or federal taxes, together with all governmental filings related thereto, arising out of the performance of the Services by you or resulting from the compensation paid under this Agreement will be the sole responsibility of you.  You agree to indemnify, defend and hold the Company harmless from any liability for, or assessment of, any claims or penalties with respect to such withholding taxes, labor or employment requirements, including any liability for, or assessment of, withholding taxes imposed on the Company by the relevant taxing authorities with respect to any fees paid to you. 

5.Expenses.  The Company will reimburse you for all reasonable, ordinary and necessary expenses incurred by you in connection with the Services provided hereunder.  Reimbursement of expenses payable hereunder in respect of the Services performed will be made within a reasonable period of time following your submission to the Company of a statement in a form acceptable to the Company for such expenses.  

6.Independent Contractor.

a.You will act in the capacity of an independent contractor with respect to the Company.  You will not be, nor represent yourself as being, an employee or agent of the Company or as being authorized to bind the Company.

b.As an independent contractor, you represent that you have the right to sole control of the manner and direct the means and methods of performing the Services under this Agreement; provided, however, you will accept any reasonable directions issued by the Company pertaining to the goals to be attained and the results to be achieved by you.

c.As an independent contractor, you will not have the status of or be considered an employee of the Company.  You will not be eligible to participate as an employee in any employee benefit, group insurance or executive compensation plans or programs or any other benefit or compensation maintained by the Company for its respective employees and executives, except pursuant to the terms of any award agreements in effect at the time of your retirement under the Company’s 2008 Omnibus Incentive Plan and 2008 Omnibus Incentive Plan, as amended and restated April 2, 2012 (the “Omnibus Plan”).  For the avoidance of doubt, the Compensation Committee of the Company has set forth that the Services constitute continued “Service” to the Company under the Omnibus Plan and any award agreements governed thereby and termination of “Service” to the Company under the Omnibus Plan shall take place at the conclusion of the Term.  In addition, the Company will not provide Social Security, unemployment compensation, disability insurance, workers’ compensation or similar coverage, or any other statutory benefits, to you.  

d.You agree to incur all expenses associated with performance of the Services hereunder, except as expressly provided in this Agreement.

7.Confidential Information.  You acknowledge that during the Term you will have access to information that is treated as confidential and proprietary by the Company and its affiliates, including, without limitation, trade secrets, technology, and information pertaining to business operations and strategies, customers, pricing, marketing, finances, sourcing, personnel, or operations of the Company or its affiliates, in each case whether spoken, written, printed, electronic or in any other form or medium (collectively, the “Confidential Information”).  Any Confidential Information that you develop in connection with the performance of the Services hereunder will be subject to the terms and conditions of this Section 7.  You agree to treat all Confidential Information as strictly confidential, not to disclose Confidential Information or permit it to be disclosed, in whole or part, to any third party without the prior written consent of the Company in each instance, and not to use any Confidential Information for any purpose except as required in the performance of the Services hereunder. You will notify the Company immediately in the event you become aware of any loss or disclosure of any Confidential Information.  Confidential Information will not include information that (a) is or becomes generally available to the public other than through your breach of this Agreement, or (b) is communicated to you by a third party that had no confidentiality obligations with respect to such information.  Nothing herein will be construed to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation or order. You agree to provide written notice of any such order to an authorized officer of the Company sufficiently in advance of making any disclosure to permit the Company to contest the order or seek confidentiality protections, as determined in the Company’s sole discretion. The provisions of this Section 7 are in addition to, and do not supersede, the provisions of section 6.1 of the Executive Employment Agreement.

8.Amendments and Modifications.  This Agreement may not be amended, modified or changed in any respect except in writing duly signed by the party against whom enforcement of such amendment, modification or change is sought.

9.Assignment. You will not assign any rights, or delegate or subcontract any obligations, under this Agreement without the Company's prior written consent. Any assignment in violation of the foregoing will be deemed null and void. The Company may freely assign its rights and obligations under this Agreement at any time. 

10.Section Headings.  The section headings used in this Agreement are included solely for convenience and will not affect, or be used in connection with, the interpretation of this Agreement.

11.Severability.  The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof.

12.Entire Agreement. This Agreement constitutes the sole and entire agreement of the parties with respect to the subject matter hereof.  This Agreement supersedes all prior agreements, contracts and understandings, and constitutes the entire agreement regarding services you are to provide to the Company, except as provided herein. For purposes of clarification, this Agreement supersedes the Executive Employment Agreement entered into as of March 24, 2011 between you and the Company, and amended April 22, 2012 (the “Executive Employment Agreement”), other than section 4 and 6 of the Executive Employment Agreement which survives your termination of employment with the Company and remain in full force and effect, as provided therein. You agree that you are not entitled to receive any payments or benefits under the Executive Employment Agreement other than as provided in section 4 thereof.

13.Governing Law. This Agreement is governed by and is to be construed, administered and enforced in accordance with the laws of the State of Maryland, without regard to conflicts of law principles. If under the governing law, any portion of this Agreement is at any time deemed to be in conflict with any applicable statute, rule, regulation, ordinance, or other principle of law, such portion shall be deemed to be modified or altered to the extent necessary to conform thereto or, if that is not possible, to be omitted from this Agreement. The invalidity of any such portion shall not affect the force, effect, and validity of the remaining portion hereof. 

14.Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in the City of Washington, D.C. by three arbitrators in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association in effect at the time of submission to arbitration. Judgment may be entered on the arbitrators’ award in any court having jurisdiction. For purposes of entering any judgment upon an award rendered by the arbitrators, you and the Company hereby consent to the jurisdiction of any or all of the following courts: (i) the United States District Court for the Fourth Circuit, (ii) any of the courts of the State of Maryland, or (iii) any other court having jurisdiction. You and the Company further agree that any service of process or notice requirements in any such proceeding shall be satisfied if the rules of such court relating thereto have been substantially satisfied. You and the Company hereby waive, to the fullest extent permitted by applicable law, any objection which you or the Company may now or hereafter have to such jurisdiction and any defense of inconvenient forum. You and the Company hereby agree that a judgment upon an award rendered by the arbitrators may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. You and the Company hereby agree to bear its or his own costs and expenses arising in connection with any arbitration proceeding pursuant to this Section 14. Notwithstanding any provision in this Section 14, you shall be paid compensation due and owing under this Agreement during the pendency of any dispute or controversy arising under or in connection with this Agreement.

15.Counterparts.  This Agreement may be executed in any number of counterparts, each of which will be effective only upon delivery and thereafter will be deemed to be an original, and all of which will be taken to be one and the same instrument with the same effect as if each of the parties hereto had signed the same signature page. 

If this Agreement correctly sets forth our agreement regarding your consulting services, please sign and date the enclosed copy where indicated and return it to me. 

Sincerely,

/s/ Matthew Trerotola

Matthew Trerotola 
CEO and President of Colfax Corporation

ACKNOWLEDGED AND AGREED

/s/ Clay H. Kiefaber
_____________________________________
Clay H. Kiefaber

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