Document:

THIS OPTION HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESS
REGISTERED PURSUANT TO APPLICABLE PROVISIONS OF FEDERAL AND STATE SECURITIES LAWS OR EXEMPT FROM THE REGISTRATION REQUIREMENTS
THEREOF.

 

AMENDED AND RESTATED

GENEREX BIOTECHNOLOGY CORPORATION

2006 STOCK PLAN

NONQUALIFIED STOCK OPTION GRANT

 

This STOCK OPTION GRANT,
dated as of June 6, 2013 (the “Date of Grant”), is delivered by Generex Biotechnology Corporation (the “Company”)
to David Brusegard, an employee of the Company (the “Grantee”).

 

RECITALS

 

A.           The
Amended and Restated Generex Biotechnology Corporation 2006 Stock Plan (the “Plan”) provides for the grant of
options to purchase shares of common stock of the Company. The Board of Directors of the Company (the “Board”)
has decided to make a stock option grant. A copy of the Plan is attached as Exhibit A to this Agreement. Capitalized terms
used in this Agreement and not otherwise defined shall have the meanings assigned such terms in the Plan.

 

B.           The
Board is authorized to appoint a committee or individual to administer the Plan. If a committee or individual is appointed, all
references in this Agreement to the “Board” shall be deemed to refer to the committee or individual.

 

NOW, THEREFORE, the
parties to this Agreement, intending to be legally bound hereby, agree as follows:

 

1.           Grant
of Option.

 

(a)          Subject
to the terms and conditions set forth in this Agreement and in the Plan, the Company hereby grants to the Grantee an incentive
stock option (the “Option”) to purchase up to five hundred ninety-five thousand, two hundred and thirty-nine
(595,239) shares of common stock of the Company (“Shares”) at an exercise price of $0.001 per Share.
The Option shall become exercisable according to Paragraph 2 below.

 

(b)          Under
the terms and conditions contained in the Plan, the Option is granted as a nonqualified stock option and is not an incentive stock
options under section 422 of the Internal Revenue Code of 1986, as amended.

 

2.           Exercisability
of Option. The Option shall be exercisable as set forth in the following schedule provided that the Grantee is employed
by or providing service to the Company (as defined in the Plan) on the applicable date of exercise: 595,239 shares will
be immediately exercisable as of the Date of Grant.

 

    	 

    	 

    

 

3.           Term
of Option.

 

(a)          The
Option shall have a term of five (5) years from the Date of Grant and shall terminate at the expiration of that period, unless
it is terminated at an earlier date pursuant to the provisions of this Agreement or the Plan.

 

(b)          Unless
otherwise specified by the Board, the Option shall automatically terminate on the date on which the Grantee ceases to be employed
or provide service to the Company for any reason, except for the happening of any of the events described in Paragraph 3(c).

 

(c)          The
Option shall automatically upon the happening of the first of the following events:

 

(i)          The
date on which the Board determines that the Grantee has engaged in conduct that constitutes Cause at any time while the Grantee
is employed by or providing service to the Company. In addition, notwithstanding the other provisions of this Paragraph 3, if the
Board determines that the Grantee has engaged in conduct that constitutes Cause after the Grantee’s termination of employment
or service for any reason, the Option shall immediately terminate.

 

(ii)         The
expiration of the 90-day period after the Grantee ceases to provide services to the Company, as a result of a termination of service
without Cause or if the Grantee voluntarily terminated employment or service and provided the Company with at least 90 days advance
written notice of the effective date of such termination of employment or service with the Company.

 

(iii)        The
expiration of the one-year period after the Grantee ceases to provide services to the Company on account of the Grantee’s
Disability.

 

(iv)        The
expiration of the one-year period after the Grantee ceases to be employed by or provide services to the Company, if the Grantee
dies while employed by or in the service of the Company.

 

Notwithstanding the foregoing, in no event
may the Option be exercised after the date that is five (5) years from the Date of Grant. Any portion of the Option that is not
exercisable at the time the Grantee ceases to be employed by or provide service to the Company shall immediately terminate.

 

4.           Exercise
Procedures.

 

(a)          Subject
to the provisions of the foregoing Paragraphs, the Grantee may exercise part or all of the exercisable Option by giving the Board
written notice of intent to exercise in the manner provided in this Agreement and Section 5(h) of the Plan, specifying the number
of whole Shares as to which the Option is to be exercised. On the delivery date, the Grantee shall pay the exercise price (i) in
cash, (ii) with the approval of the Board, by delivering Shares of the Company which shall be valued at their fair market value
on the date of delivery, (iii) payment through a broker in accordance with procedures permitted by Regulation T of the Federal
Reserve Board, which procedures may or may not be available, or (iv) by such other method as the Board may approve. The Board may
impose from time to time such limitations as it deems appropriate on the use of Shares of the Company to exercise the Option.

 

    	 

    	 

    

 

(b)          All
obligations of the Company under this Agreement shall be subject to the rights of the Company as set forth in the Plan to withhold
amounts required to be withheld for any taxes, if applicable. Subject to Board approval, the Grantee may elect to satisfy any income
tax withholding obligation of the Company with respect to the Option by having Shares withheld up to an amount that does not exceed
the minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities.

 

(c)          The
obligation of the Company to deliver Shares upon exercise of the Option shall be subject to all applicable laws, rules, and regulations
and such approvals by governmental agencies as may be deemed appropriate by the Board, including such actions as Company counsel
shall deem necessary or appropriate to comply with relevant securities laws and regulations.

 

5.           [Intentionally
Omitted.]

 

6.           Change
of Control. The provisions of the Plan applicable to a Change of Control shall apply to the Option, and, in the event of
a Change of Control, the Board may take such actions as it deems appropriate pursuant to the Plan.

 

7.           Cancellation
and Rescission of Options. The Grantee acknowledges and understands that the Option is subject to the cancellation and
rescission provisions of Section 12 of the Plan.

 

8.           Restrictions
on Exercise. Only the Grantee may exercise the Option during the Grantee’s lifetime. After the Grantee’s death,
the Option shall be exercisable (subject to the limitations specified in the Plan) solely by the legal representatives of the Grantee,
or by the person who acquires the right to exercise the Option by will or by the laws of descent and distribution, to the extent
that the Option is exercisable pursuant to this Agreement.

 

9.           Grant
Subject to Plan Provisions. This grant is made pursuant to the Plan, the terms of which are incorporated herein by reference,
and in all respects shall be interpreted in accordance with the Plan. The grant and exercise of the Option are subject to the provisions
of the Plan and to interpretations, regulations and determinations concerning the Plan established from time to time by the Board
in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) rights and obligations
with respect to withholding taxes, (ii) the registration, qualification or listing of the Shares, (iii) changes in capitalization
of the Company and (iv) other requirements of applicable law. The Board shall have the authority to interpret and construe the
Option pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions arising hereunder.

 

    	 

    	 

    

 

10.          No
Employment or Other Rights. The grant of the Option shall not confer upon the Grantee any right to be retained by or in
the employ or service of the Company and shall not interfere in any way with the right of the Company to terminate the Grantee’s
employment or service at any time. The right of the Company to terminate at will the Grantee’s employment or service at any
time for any reason is specifically reserved.

 

11.          No
Stockholder Rights. Neither the Grantee, nor any person entitled to exercise the Grantee’s rights in the event of
the Grantee’s death, shall have any of the rights and privileges of a stockholder with respect to the Shares subject to the
Option, until certificates for Shares have been issued upon the exercise of the Option.

 

12.          Assignment
and Transfers. The rights and interests of the Grantee under this Agreement may not be sold, assigned, encumbered or otherwise
transferred except, in the event of the death of the Grantee, by will or by the laws of descent and distribution. In the event
of any attempt by the Grantee to alienate, assign, pledge, hypothecate, or otherwise dispose of the Option or any right hereunder,
except as provided for in this Agreement, or in the event of the levy or any attachment, execution or similar process upon the
rights or interests hereby conferred, the Company may terminate the Option by notice to the Grantee, and the Option and all rights
hereunder shall thereupon become null and void. The rights and protections of the Company hereunder shall extend to any successors
or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates. This Agreement may be assigned by the
Company without the Grantee’s consent.

 

13.          Notice.
Any notice to the Company provided for in this instrument shall be addressed to the Company in care of the President, 33 Harbor
Square, Suite 202, Toronto, Ontario, Canada, M5J 2G2, and any notice to the Grantee shall be addressed to such Grantee at the current
address shown on the books of the Company, or to such other address as the Grantee may designate to the Company in writing. Any
notice shall be delivered by hand, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered
and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service or Canada Post.

 

[Signatures Appear on Following Page]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Company has
caused its duly authorized officers to execute and attest this Agreement, and the Grantee has executed this Agreement, effective
as of the Date of Grant.

 

	 	GENEREX BIOTECHNOLOGY CORPORATION
	 	 
	 	Per:	/s/ Stephen Fellows 	 
	 	Name:	Stephen Fellows	 
	 	Title:	Chief Financial Officer	 
	 	 	 	 
	 	Per:	/s/ Mark A. Fletcher 	 
	 	Name:	Mark A. Fletcher	 
	 	Title:	Chief Executive Officer and General Counsel
	 	 	 	 
	 	ACCEPTED:	 
	 	 	 
	 	/s/ David Brusegard	 
	 	David Brusegard, GranteeRESTATED AND AMENDED EMPLOYMENT AGREEMENT

WITH

MICHAEL J. HARTNETT

 

This Employment Agreement (the “Employment Agreement”)
isamended and restated effective as of this 1st day of April, 2013 (the “Commencement Date”) and made between RBC Bearings
Incorporated, a Delaware corporation (“Employer” or the “Company”) and Michael J. Hartnett Ph.D. (“Employee”).
Prior to and through the time of their entry into this Agreement, Employee has served as Employer’s President, Chief Executive
Officer and Chairman of its Board of Directors pursuant to an Employment Agreement dated April 4, 2010 (“Prior Employment
Agreement”). Both parties wish to continue this employment relationship under the terms reflected in this Agreement.

 

Therefore, Employer hereby employs Employee and Employee hereby
accepts employment, on the terms and conditions hereinafter set forth.

 

		1.	DEFINITIONS.

 

As used in this Agreement, and unless the context requires a
different meaning, the following terms shall be defined as follows:

 

“Change in Control” is as defined in the RBC
2005 Long-Term Equity Incentive Plan as amended.

 

“Competing Business” means any business (including,
without limitation, research and development) that is carried on by Employer in any material respect, and with which Employee is
actively involved, during the Term.

 

“EBITDA” shall mean the income of the Employer increased
by interest, taxes, depreciation and amortization, calculated in a manner consistent with the calculation of the Plan.

 

“Good Reason” shall mean for the 24 month period
following a Change in Control any of the following which occur subsequent to the Commencement Date without your express written
consent:

 

(i)           
a substantial reduction in the Employee’s title, position, duties, responsibilities and status with the Company inconsistent
with the Employee’s title, duties, responsibilities and status immediately prior to a change in the Employee’s titles
or offices, or any removal of the Employee from or any failure to reelect the Employee to any of such positions, except in connection
with the termination of his employment for disability, retirement or Cause or by the Employee other than for Good Reason;

 

(ii)          
a relocation of Employee’s principal work location without his consent to a location more than 25 miles from the Company’s
headquarters at Oxford, Connecticut;

 

(iii)         
any material breach by the Company of any provision of this Agreement; or (iv) any failure by the Company to obtain the assumption
of this Agreement by any successor or assign of the Company.

 

“Plan” shall mean the operating plan established
by the Employee, in his status as CEO of Employer and as approved by the Board within ninety (90) days following the beginning
of each fiscal year, as applicable to Employer and as applicable to the determination of bonuses payable to others of Employer’s
employees to the extent such bonuses are calculated by reference to operating results.

  

“Person” means any natural person, partnership,
corporation, trust, company or other entity.

 

“Territory” means the geographical area in which
the Employer engages in any business (other than an insignificant amount of business), with which Employee is actively involved,
during the Term.

 

“Equity Vesting Triggering Event” means the occurrence
of any of the following:

 

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(i) the expiration of the Term of this Agreement
pursuant to Section 2;

 

(ii) the termination of this Agreement pursuant
to Section 8(a) upon Employee’s death or Total Disability;

 

(iii) the termination of this Agreement
by the Employer pursuant to Section 8(c) without Cause; or

 

(iv) the termination of this Agreement by
the Employee pursuant to Section 8(d) for other than Good Reason.

 

		2.	TERM.

 

Subject to the terms and conditions of this Agreement, the Company
shall employ Employee as its President, Chief Executive Officer, and Chairman of its Board of Directors for a term commencing on
the Commencement Date hereof and continuing until March 31, 2015 or until earlier terminated pursuant to the provisions of Section 8
hereof (the “Initial Term”). Upon expiration of the Initial Term, this Agreement will automatically renew for additional
one (1) year periods (each a “Renewal Term”) unless either party notifies the other of its intent not to so renew within
ninety (90) days prior to the expiration of the Initial Term or any Renewal Term. (The Initial Term and all Renewal Terms shall
collectively be referred to as the “Term”).

 

		3.	DUTIES.

 

(a)           During
the Term, Employee agrees to serve Employer as its President, Chief Executive Officer and Chairman of its Board of Directors (the
“Board”) reporting to the Board, and in such other executive capacities as may be agreed from time to time by the Board
(or a duly authorized committee thereof) and Employee; provided that (i) Employee’s duties shall at all times be limited
to those commensurate with the foregoing offices, and (ii) Employee shall not be obligated, without his consent, to relocate
his principal office location from Oxford, Connecticut (or the surrounding reasonable commuting area), although the foregoing limitation
is not intended to limit Employee’s requirement, in the normal course of business, to travel to the Employer’s other
business locations. Employee shall serve, if elected, as a director of, and if agreed by Employee and the board of directors of
the organization in question, shall serve as an officer and render appropriate services to, corporations directly or indirectly
controlled by Employer (“Employer’s Affiliates”) as Employer may from time to time reasonably request (but only
such services as shall be consistent with the duties Employee is to perform for Employer and with Employee’s stature and
experience). All duties and services contemplated by this Section 3 are hereinafter referred to as the “Services.”

 

(b)          During
the Term, Employee will devote his full business time and attention to, and use his good faith efforts to advance, the business
and welfare of Employer; provided that the foregoing shall not restrict Employee’s rights to engage in passive investment
activities, to serve on the boards of directors of other entities (so long as such activities are not violative of Section 4
below), or to engage in civic, charitable and other similar activities.

 

		4.	CONFIDENTIAL INFORMATION AND COVENANT NOT TO COMPETE.

 

(a)         Employee
hereby agrees that, during the Term and thereafter, he will not disclose to any Person, or otherwise use or exploit in competition
with Employer or Employer’s Affiliates, any of the proprietary or confidential information or knowledge treated by the Employer
or Employer’s Affiliates as confidential, including without limitation, trade secrets, processes, records of research, information
included in proposals, reports, methods, processes, techniques, computer software or programming, or budgets or other financial
information, regarding Employer or Employer’s Affiliates, its or their business, properties or affairs obtained by him at
any time (i) during the Term or (ii) during any employment of Employee with the Employer or any of Employer’s Affiliates
prior to the Commencement Date (“Prior Employment”), except to the extent required to perform the Services; PROVIDED
that the foregoing shall not apply to: (A) information in the public domain other than by reason of a violation of this Agreement
by Employee, or (B) information that Employee is compelled to disclose by operation of law or legal process (so long as Employee
provides Employer with prior notice of any such compelled disclosure and an opportunity to defend against such disclosure), or
(C) information generally known to Employee by reason of his particular expertise that is not specific to the Employer.

 

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(b)        Employee
hereby agrees that during the Term and for a period of two years thereafter (the “Non-Compete Term”), he will not (i) engage
in or carry on, directly or indirectly, any Competing Business in any Territory in which such Competing Business is then engaged
in by the Employer, (ii) allow his name to be used by any Person engaged in any Competing Business, (iii) invest in,
directly or indirectly, any Person engaged in any Competing Business, or (iv) serve as an officer or director, employee, agent,
associate or consultant of any Person engaged in a Competing Business (other than Employer or any Employer’s Affiliate).
Notwithstanding the foregoing, the Non-Compete Term shall be only for the Term hereof in the event Employee’s employment
hereunder is terminated by the Employer hereunder without Cause (as provided in Section 8(c) below) and shall be for
a period of twelve (12) months following such termination by the Employee with Good Reason (as provided in Section 8(d) below).
Subject to Section 3 (b) hereof, nothing herein shall prohibit the Employee from (A) investing in any business that
is not a Competing Business or (B) investing in a publicly-held entity if such investment (individually or as part of a group)
is limited to not more than five percent (5%) of the outstanding equity issue of such entity.

 

(c)         All
intellectual properties developed by Employee during the Term or during any Prior Employment and that is related to the business
(or foreseeable business prospects) of the Employer with which Employee is actively involved shall be for the account of the Employer.
Employee agrees to enter into such agreements (including transfer documents) as may be reasonably required by Employer to confirm
the foregoing.

 

(d)       Employee shall not,
during the Non-Compete Term, directly or indirectly, solicit or induce or attempt to solicit or induce any affiliate, director,
agent, or employee of Employer or contractor then under contract to the Employer, to terminate his, her or its employment or other
relationship with Employer for the purpose of entering into a similar relationship with any Employer’s competitors or for
any other purpose or no purpose. Employee shall not, during the Non-Compete Term, directly or indirectly, solicit or induce or
attempt to solicit or induce any customer or supplier of Employer to terminate his, her or its relationship with Employer for the
purpose of entering into a similar relationship with any competitors of Employer or Employer’s Affiliates or for any other
purpose or no purpose.

 

(e)         Employee
agrees that the remedy at law for any breach by him of any of any of the covenants and agreements set forth in this Section 4
will be inadequate and will cause immediate and irreparable injury to Employer and that in the event of any such breach, Employer,
in addition to the other remedies which may be available to it at law, shall be entitled to seek injunctive relief prohibiting
him from the breach of such covenants and agreements.

 

(f)           
The parties hereto intend that the covenants and agreements contained in this Section 4 shall be deemed to include a series
of separate covenants and agreements, one for each and every county of the states in which the Employer does business. If, in any
judicial proceeding, the duration or scope of any covenant or agreement of Employee contained in this Section 4 shall be adjudicated
to be invalid or unenforceable, the parties agree that this Agreement shall be deemed amended to reduce such duration or scope
to the extent necessary to permit enforcement of such covenant or agreement.

 

		5.	INDEMNIFICATION.

 

Employer hereby agrees to indemnify Employee to the maximum
extent permitted by Delaware law at the time of the assertion, against any liability against Employee arising out of or relating
to his status as an employee, officer or director acting within the course and scope of employment, office or director responsibility
of Employer or any Employer’s Affiliate at any time during the Term, whether such liability is asserted during or after the
Term.

 

		6.	COMPENSATION AND BENEFITS.

 

(a)  Commencing April 1, 2013, Employer shall
pay Employee a salary at the rate of seventy thousand and seventy two dollars ($70,072) per month payable at least as frequently
as monthly and subject to payroll deductions as may be necessary or customary in respect of Employer’s salaried employees
(“Base Salary”). Commencing not later than December 1, 2013 , the Compensation Committee
of the Board of Directors of the Company (the “Compensation Committee”) shall annually review the Employee’s
Base Salary and may increase (but not decrease) such Base Salary, at its sole discretion. Any increased Base Salary shall then
constitute the “Base Salary” for purposes of this Agreement (b)       During
the term, Employee shall also be entitled to receive the benefits set forth in Schedule A hereto (the “Additional Benefits”)
as well as any normal executive benefits of Employer not enumerated in that Schedule.

 

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(c)During the Term, Employee shall also be entitled to receive
annual-performance bonuses in amounts and at times as follows:

 

Employee shall be entitled to an annual performance bonus with
respect to each fiscal year of the Employer during which Employee remains an employee of the Company beginning with the fiscal
year ending March 29, 2014, in an amount determined as a percentage of Employee’s Base Salary, based on the following criteria:

 

	Percentage of Actual EBITDA to Plan	 	Amount of Bonus	 
	80% to 89.9%	 	75% of Base Salary	 
	90% to 99.9%	 	100% of Base Salary	 
	100% to 109.9%	 	150% of Base Salary	 
	110% to 119.9%	 	200% of Base Salary	 
	120% or higher	 	250% of Base Salary	 

 

The amount payable under this formula, if any, shall be paid
to Employee within fifteen (15) days following the publication of the Company’s financial statements for each fiscal year
of the Employer during the Term, but in no event later than one hundred twenty (120) days following the end of such fiscal year.

 

(d) Employee shall be designated
as an Eligible Executive under the Company’s Executive Officer Performance Based Compensation Plan.

 

		7.	EXPENSES.

 

Employer will pay or reimburse Employee for such reasonable
travel, entertainment, educational and other expenses as he may incur on behalf of Employer during the Term in connection with
the performance of his duties hereunder.

 

		8.	TERMINATION OF EMPLOYMENT.

 

Notwithstanding Section 1 hereof, the Initial Term may
be terminated prior to March 31, 2015, and any Renewal Term may be terminated under the following circumstances:

 

(a)  DEATH OR TOTAL DISABILITY. The Term shall
automatically and immediately terminate upon Employee’s death or “Total Disability.” For purposes of this
Agreement, “Total Disability” shall mean Employee’s physical or mental incapacitation or disability that renders
Employee unable to perform the Services as performed prior to such incapacitation or disability for the period of twenty-six (26)
consecutive weeks or during anyone hundred fifty (150) business days (whether or not consecutive) during any twelve (12) month
period during the Term.

 

(b)  TERMINATION BY EMPLOYER FOR CAUSE. Employer,
at its election, shall have the right to terminate the Term, by written notice to Employee to that effect, for “Cause”.
The term “Cause” shall mean:

  

		(i)	any act of fraud, embezzlement, theft or conviction
of a crime involving moral turpitude;

 

		(ii)	any material breach by Employee of any material covenant,
condition, or agreement in this Agreement (“Employee’s Material Breach”); or

 

		(iii)	any chemical dependency by Employee (other than in
connection with medicines prescribed for Employee).

 

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To terminate the Term pursuant to this Section 8(b), Employer
shall give written notice (“Cause Notice”) to the Employee specifying the claimed Cause. If Employee fails to cure
the same within thirty (30) days after the receipt of the applicable Cause Notice (or such longer period as may be reasonably required
if such actions are subject to cure), the Term shall terminate at the end of such thirty (30) day period or such longer reasonable
period, as the case may be. Notwithstanding anything that may be interpreted to the contrary, it is expressly agreed that no act
of the type contemplated by or described in Section 8(b)(i) shall be capable of being cured by Employee and the Employer
may terminate Employee immediately without the requirement for such cure period.

 

(c) TERMINATION BY EMPLOYER WITHOUT CAUSE. Employer shall
have the right, at its election, to terminate the Term at any time for any reason other than “Cause” upon not less
than sixty (60) days prior written notice to Employee.

 

(d)  TERMINATION BY EMPLOYEE. Employee shall have
the right, at his election, to terminate the Term at any time by written notice to Employer upon not less than one hundred and
twenty (120) days prior written notice; provided, however, that (i) such notice period shall be thirty (30) days in the case
of a termination for “Good Reason”; and (ii) if such termination is other than for Good Reason the Non-Compete
Term, for purposes of Section 4(b) and (d), shall continue through March 31, 2015.

 

(e)   SALARY AND BENEFITS IN EVENT OF TERMINATION.
Upon termination of the Term, the following shall be applicable, notwithstanding anything to the contrary elsewhere herein:

 

(i)           
If the Term is terminated by Employer for Cause pursuant to Section 8 (b) or by Employee pursuant to Section 8 (d) other
than for Good Reason, Employee shall thereafter be entitled to the Base Salary and all benefits, including the Special Benefits
for six months following the effective date of such termination, unless otherwise agreed by Employer.

 

(ii)          
If the Initial Term is terminated (A) due to Employee’s death or Total Disability pursuant to Section 8 (a) hereof,
or (B) by the Employer without Cause pursuant to Section 8 (c) hereof, (x) Employer shall pay to Employee on the
date of termination the Base Salary due to Employee for the then remainder of the period ending March 31, 2015, net of any benefits
paid to Employee pursuant to any policy of disability insurance maintained by Employer, plus a PRO RATA portion of the Employee’s
annual bonus for the fiscal year of the Employer in which such termination occurs (provided that in the case of Employee’s
death or Total Disability such payment and benefits shall extend for no longer than for the then remainder of the period ending
March 31, 2015), and (y) Employee shall be entitled to all benefits including the Special Benefits described in Section 6
(b) hereof for the then remainder of the period ending March 31, 2015.

 

(iii) If a Renewal Term is terminated (A) pursuant
to Employee’s death or Total Disability pursuant to Section 8 (a) hereof, or (B) by the Employer without Cause
pursuant to Section 8 (c) hereof, (x) Employer shall pay to Employee (or Employee’s estate or designated beneficiaries)
on the date of termination the Base Salary due to Employee for the then remainder of the Renewal Term, net of any benefits paid
to Employee pursuant to any policy of disability insurance maintained by Employer, plus a PRO RATA portion of the Employee’s
annual bonus for the fiscal year of the Employer in which such termination occurs (provided that in the case of Employee’s
death or Total Disability such payment and benefits shall extend for no longer then remainder of the Renewal Term), and (y) Employee
shall be entitled to all benefits including the Special Benefits described in Section 6 (b) hereof for the than remainder
of the Renewal Term.

 

(iv) If a Change in Control occurs and if within
24 months after a Change in Control, Employee’s employment is either terminated by the Company without Cause or by Employee
for Good Reason, Employee shall be entitled to the compensation and benefits set forth in Schedule B, Change in Control Provisions.

 

 (v) If an Equity Vesting
Triggering Event occurs, all restricted stock and stock option awards that have been granted to Employee shall immediately and
fully vest and all stock options grants shall be exercisable by Employee on or before the day which is thirty nine (39) months
from the initial grant date, in the case of stock option grants with three (3) year vesting, and on or before the day which is
sixty three (63) months from the initial grant date in the case of stock option grants with five (5) year vesting. Approval of
this Agreement by the Company’s Board Compensation Committee shall be deemed approval of the amendments of the restricted
stock and stock option grants as provided in the immediately preceding sentence for all purposes under the RBC
2005 Long-Term Equity Incentive Plan as amended or any subsequent long –term equity incentive plan approved by and on behalf
of the Company. The vesting provisions contained in this subsection (v) shall take precedent over any vesting provisions
contained in Schedule B.

 

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(f)  DELIVERY OF RECORDS UPON TERMINATION. Upon
termination of the Term, Employee will deliver to Employer all records of research, proposals, reports, memoranda, computer software
and programming, budgets and ether financial information, and ether materials or records (including any copies thereof) made, used
or obtained by Employee in connection with his employment by Employer and/or any Employer’s Affiliate.

 

		9.	MISCELLANEOUS.

 

(a)   MODIFICATION AND WAIVER OF BREACH. No. waiver
or modification of this Employment Agreement shall be binding unless it is in writing signed by the parties hereto and expressly
stating that it is intended to modify this Agreement. No waiver of a breach hereof shall be deemed to constitute a waiver
of a future breach, whether of a similar or dissimilar nature.

 

(b)  NOTICES. All notices and other
communications required or permitted under this Employment Agreement shall be in writing, served personally on, or made by certified
or registered United States mail to, the party to be charged with receipt thereof. Notices and other communications served in person
shall be deemed delivered when so served. Notices and other communications served by mail shall be deemed delivered hereunder 72
hours after deposit of such notice or communication in the United States Post Office as certified or registered mail with postage
prepaid and duly addressed to whom such notice or communications is to be given, in the case of

 

		(i)	Employer:

RBC Bearings Incorporated

One Tribology Center

Oxford, CT 06478

ATTN : Chief Financial Officer

 

		(ii)	Employee:

Michael J. Hartnett

385 South Street

Middlebury, Connecticut 06762

 

Any party may change said party’s address for purposes
of this Section by giving to the party intended to be bound thereby, in the manner provided herein, a written notice of such
change.

 

(c)  COUNTERPARTS. This instrument may be executed
in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same Employment Agreement.

 

(d)  GOVERNING LAW. Except as otherwise expressly
provided herein, this Employment Agreement shall be construed in accordance with, and governed by, the internal laws of the State
of Connecticut applicable to agreements executed and to be performed in such state without regard to principles of choice of law
or conflicts of laws.

 

(e)  COMPLETE EMPLOYMENT AGREEMENT. This Employment
Agreement and its Exhibits and Schedules, together contain the entire agreement between the parties hereto with respect to the
subject matter of this Employment Agreement and supersedes all prior and contemporaneous oral and written negotiations, commitments,
writings, and understandings with respect to the subject matter of Employee’s relationship with Employer, including Prior
Employment Agreement which is terminated effective as of the Commencement Date.

 

    	Page 6 of 9

    	 

    

  

(f)  NON-TRANSFERABILITY OF EMPLOYEE’S INTEREST.
None of the rights of Employee to receive any form of compensation payable pursuant to this Employment Agreement shall be assignable
or transferable. Any attempted assignment, transfer, conveyance, or other disposition of any interest in the rights of Employee
hereunder shall be void.

 

In WITNESS WHEREOF, the undersigned have
executed this Employment Agreement on the day and year first above written.

 

	 	EMPLOYEE:
	 	 
	 	/s/ Michael J. Hartnett	 
	 	 
	 	
        MICHAEL J. HARTNETT

         

         

        EMPLOYER:

	 	 
	 	RBC BEARINGS INCORPORATED
	 	 
	 	By:
	 	 
	 	 /s/ Richard Crowell	 
	 	 
	 	
        RICHARD CROWELL

Chairman

Compensation Committee

	 	 	 	 

 

    	Page 7 of 9

    	 

    

  

SCHEDULE A TO EMPLOYMENT AGREEMENT
BETWEEN MICHAEL J.

HARTNETT AND RBC BEARINGS INCORPORATED,
APRIL 4, 2010

 

SPECIAL BENEFITS

 

1. Employee shall be reimbursed by Employer, as valued, determined
and approved by the Vice President and Chief Financial Officer, for personal expenses up to a total of $50,000 in any fiscal year.
Such personal expenses may include, but not be limited to, use of the Employer’s aircraft facility.

  

		2.	At Employer’s expense,

 

Executive Medical Coverage ($10,000 per
year supplemental coverage).

 

Dental insurance.

 

Prescription drug coverage.

 

The above medical, dental and prescription drug coverage benefits
are subject to change at any time at the discretion of the Board of Directors of Employer; provided that such coverages provided
to Employee shall at all times be at least as beneficial to Employee as are the coverages provided to other of Employer’s
executive employees and shall always be fully paid by the Employer.

 

The above medical, dental and prescription drug coverage shall
be in addition to Employee’s participation in any medical, hospitalization of related coverage maintained by Employer for
the benefit of all its employees.

 

3. At Employer’s expense, disability insurance at least
as beneficial to Employee as the disability provided for Employee immediately preceding the Commencement Date of this Agreement,
provided that within that limitation, such insurance may be modified from time to time at the discretion of the Board of Directors
of Employer.

 

4. The Employer shall maintain an appropriate apartment or other
dwelling in Los Angeles for use by the Employee throughout the Term. The parties acknowledge that “appropriate” shall
mean of at least the quality and convenience of the dwelling maintained for this purpose immediately preceding the Commencement
date of the Agreement. .

 

5. Employee shall be provided six weeks of paid vacation for
each twelve month period during the Term, to accrue PRO RATA during the course of each such twelve month period; and payable at
Employee’s then- effective base salary rate on termination if not used during the Term.

 

6. Employee shall have unrestricted use of an appropriate automobile
throughout the Term at the Employer’s expense, including without limitation, fuel, insurance, maintenance and repair. When
the Agreement expires or otherwise terminates, Employee shall have the option to assume the lease or purchase the vehicle for its
book value as of the Termination date, such option to be exercised within two months of said Termination date. The parties acknowledge
that “appropriate” shall mean of at least the quality and convenience of the automobile used for this purpose immediately
preceding the Commencement date of the Agreement.

 

7. During the Initial term, Employee shall have the option of
purchasing the condominium owned by the Company at 22432 Manacor in Mission Viejo, California for a price equal to the Company’s
then current book value.

 

    	Page 8 of 9

    	 

    

 

SCHEDULE B TO EMPLOYMENT AGREEMENT
BETWEEN MICHAEL J.

HARTNETT AND RBC BEARINGS INCORPORATED,
APRIL 4, 2010

 

CHANGE OF CONTROL PROVISIONS

 

  

1.(a)If a Change in Control occurs and if within 24
months after a Change in Control, your employment is either terminated by the Company without Cause or by you for Good Reason ,
the Company will pay you on your date of termination a single lump sum cash payment equal to the sum of:

 

		•	The base salary, unused vacation and any annual bonus
applicable to a completed fiscal year, which have not yet been paid to you through the date of termination;

 

		•	A bonus equal to your annual base salary applicable
to you on your termination date, multiplied by your maximum target bonus percentage then in effect and prorated to account for
the number of days you were employed by the Company during the Fiscal Year in which you were terminated.

 

		•	A severance payment equal to the sum of (i) 250% of
your annual base salary, and (ii) 250% of your Target Bonus in effect on such date. “Target Bonus” shall mean the
amount payable under all annual incentive compensation plans of the Company in which you participate, waiving any condition precedent
to the payment to you and assuming that the performance goals for the period were achieved at the 100% level.

 

		•	A reimbursement for all documented expenses, up to
$15,000, actually incurred by you for professional outplacement services within 3 months after your termination.

  

(b)For the 18 month period following the termination
of the your employment, the Company (or the subsidiary that employed you) will continue to provide coverage and participation to
you at the same participation, coverage and benefit levels (or will provide their equivalent) and pay the full cost of coverage
and participation under the employee health and other welfare plans maintained by the Company and applicable to you on your termination
date.

 

(c)Immediately prior to a Change in Control, you
will completely vest in all restricted stock and stock options that have been granted to you. Approval of this Agreement by the
Company’s Board Compensation Committee shall be deemed approval of the vesting of restricted stock and stock options as provided
in the immediately preceding sentence for all purposes under the RBC 2005 Long-Term Equity Incentive
Plan as amended or any subsequent long –term equity incentive plan approved by and on behalf of the Company. All stock
options that have been granted to you will additionally be exercisable by you for a period of 18 months following the termination
of your employment.

 

(d)All amounts paid under these Change in Control
provisions shall be subject to applicable tax withholding.

 

(e)In exchange for and prior to receipt of these
benefits you agree to execute and deliver to the Company its general release agreement applicable to severed employees.

 

2.You agree that in the event a third party (a) begins a
tender or exchange offer; (b) circulates a proxy to stockholders; or (c) takes other steps to effect a Change in Control, you will
not voluntarily terminate employment with the Company (or the subsidiary that employs you) unless you provide at least 3 months
prior written notice to the Board of Directors of the Company, and you will continue to render the services expected of your position,
and you will represent the best interests of the stockholders of the Company until the third party has abandoned or terminated
the efforts to effect a Change in Control or until a Change in Control has occurred and your employment has been terminated.

 

3.If you die prior to the time all payments due to you under
these Change in Control provisions have been made, then as soon as practicable after your death (but in no event later than one
month after), the Company shall pay in a lump sum all sums not paid to you prior to your death. Payment shall be made to your designated
beneficiary or beneficiaries named under the 401(k) plan maintained by the Company on the date of your death. If no such beneficiary
is named, such sums shall be paid to your estate.

 

4.Payments made pursuant to these Change in Control provisions
are intended to be exempt from Code §409A as separation pay to the greatest extent possible. Accordingly, all provisions herein
shall be construed and interpreted consistent with that intent, but that, to the extent necessary the Company shall amend any such
provision pertaining to such payment to comply with Code §409A, and the regulations thereunder, in the least restrictive manner
necessary without any diminution in the value of the payments to you.

 

    	Page 9 of 9

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