Document:

Form of Series B Preferred Stock Purchase Agreement

 Exhibit 10.18 
 SERIES B PREFERRED STOCK PURCHASE AGREEMENT 
 This SERIES B PREFERRED STOCK
PURCHASE AGREEMENT (this “Agreement”), dated as of , is made by and among Toolrock Holding, Inc., a Delaware corporation (the “Company”) having a place of business at One Cranberry Hill, 750 Marrett Road, Suite 401,
Lexington, MA 02421,         , an individual residing in             , (the “Purchaser”), and Toolrock Investment,
LLC, a Delaware limited liability company and stockholder of the Company (the “Parent”). 
 WHEREAS, the
Company desires to sell to the Purchaser, and the Purchaser desires to purchase from the Company, shares of the Company’s Series B Convertible Preferred Stock, $0.01 par value per share (“Series B Stock”), all on the terms and
conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the promises and the mutual covenants contained
herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Terms of Purchase. The Company hereby agrees to sell to the Purchaser, and the Purchaser hereby agrees to purchase from the Company, in accordance with the terms of this Agreement,
             shares of Series B Stock (“Purchased Shares”) at a purchase price per share equal to
$             (the “Purchase Price”). On the date hereof, the Purchaser shall pay the Purchase Price to the Company by wire transfer of immediately available funds
into an account designated in writing by the Company. 
 2. Company’s Repurchase Right; Restrictions on Transfer.

 (a) Repurchase Right. In the event that for any reason the Purchaser no longer is an employee, director or consultant
of the Company or an affiliate of the Company, the Company (or its designee) shall have the option, but not the obligation, to purchase from the Purchaser (or the Purchaser’s survivor), and, in the event the Company exercises such option, the
Purchaser (or the Purchaser’s survivor) shall be obligated to sell to the Company (or its designee), at a price per Purchased Share equal to the Repurchase Price (as defined below), all or any part of the Purchased Shares (the
“Repurchase Right”). The Company’s Repurchase Right shall be valid for a period of one hundred eighty (180) days commencing with the date of such termination of employment or service. Notwithstanding any other provision
hereof, in the event the Company is prohibited during such one hundred eighty (180) day period from exercising its Repurchase Right by applicable law, then the time period during which such Repurchase Right may be exercised shall be extended
until thirty (30) days after the Company is first not so prohibited. For purposes of this Agreement, “Repurchase Price” means a price per share equal to the greater of: (i) the Purchase Price (such price subject to equitable
adjustment in the event of any stock split, stock dividend, combination, reorganization, reclassification or other similar event affecting the Series B Stock) and (ii) the fair market value of each share of Series B Stock as determined in good
faith by the Board of Directors of the Company as of the date the Purchaser ceases to be an employee, director or consultant of the Company or an affiliate of the Company. 
 (b) Closing. In the event that the Company exercises the Repurchase Right, the Company shall notify the Purchaser, or, in the case of the Purchaser’s death, his or her Survivor,

 
in writing of its intent to repurchase the Purchased Shares. Such notice may be mailed by the Company up to and including the last day of the time period provided for above for exercise of the
Repurchase Right. The notice shall specify the place, time and date for payment of the repurchase price (the “Closing”) and the number of Purchased Shares with respect to which the Company is exercising the Repurchase Right. The
Closing shall be not less than ten (10) days nor more than sixty (60) days from the date of mailing of the notice, and the Purchaser or the Purchaser’s Survivor with respect to the Purchased Shares which the Company elects to
repurchase shall have no further rights as the owner thereof from and after the date specified in the notice. At the Closing, the Repurchase Price shall be delivered to the Purchaser or the Purchaser’s Survivor and the Purchased Shares being
repurchased, duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to the Company by the Purchaser or the Purchaser’s Survivor. 

(c) Escrow. The certificates representing all Purchased Shares acquired by the Purchaser hereunder shall be delivered to the
Company and the Company shall hold such Purchased Shares in escrow as provided in this Subsection 2(c). In the event of a repurchase by the Company of Purchased Shares subject to the Repurchase Right or a sale of Purchased Shares pursuant to
Section 3, the Company shall release from escrow and cancel a certificate for the number of Purchased Shares so repurchased. Any securities distributed in respect of the Purchased Shares held in escrow, including, without limitation, shares
issued as a result of stock splits, stock dividends or other recapitalizations, shall also be held in escrow in the same manner as the Purchased Shares. 
 (d) Prohibition on Transfer. The Purchaser recognizes and agrees that all Purchased Shares are subject to the Repurchase Right and may not be sold, transferred, assigned, hypothecated, pledged,
encumbered or otherwise disposed of, whether voluntarily or by operation of law, other than to the Company (or its designee). However, the Purchaser may transfer the Purchased Shares for no consideration to or for the benefit of the Purchaser’s
Immediate Family (as defined below) (including, without limitation, to a trust for the benefit of the Purchaser’s Immediate Family or to a partnership or limited liability company for one or more members of the Purchaser’s Immediate
Family) and the transferee shall remain subject to all the terms and conditions applicable to this Agreement prior to such transfer and each such transferee shall so acknowledge in writing as a condition precedent to the effectiveness of such
transfer. The term “Immediate Family” shall mean the Purchaser’s spouse, former spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers, nieces and nephews and grandchildren (and, for this purpose, shall
also include the Purchaser). The Company shall not be required to transfer any Purchased Shares on its books which shall have been sold, assigned or otherwise transferred in violation of this Subsection 2(d), or to treat as the owner of such
Purchased Shares, or to accord the right to vote as such owner or to pay dividends to, any person or organization to which any such Purchased Shares shall have been so sold, assigned or otherwise transferred, in violation of this Subsection 2(d).

 (e) Failure to Deliver Purchased Shares to be Repurchased. In the event that the Purchased Shares to be repurchased by
the Company under this Agreement are not in the Company’s possession pursuant to Subsection 2(c) above or otherwise and the Purchaser or the Purchaser’s Survivor fails to deliver such Purchased Shares to the Company (or its designee), the
Company may elect (i) to establish a segregated account in the amount of the Repurchase Price, 

  
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such account to be turned over to the Purchaser or the Purchaser’s Survivor upon delivery of such Purchased Shares, and (ii) immediately to take such action as is appropriate to
transfer record title of such Purchased Shares from the Purchaser to the Company (or its designee) and to treat the Purchaser and such Purchased Shares in all respects as if delivery of such Purchased Shares had been made as required by this
Agreement. The Purchaser hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of effectuating the preceding sentence. 

(f) Termination of Restrictions. The provisions of Subsections (a) through (e) of this Section 2 shall terminate
upon the consummation of a public offering of any of the Company’s securities pursuant to a registration statement filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended (the “Securities
Act”), in which offering the aggregate gross proceeds to the Company exceed $30,000,000 and in which the price per share of such securities equals or exceeds $3.00 (such price subject to equitable adjustment in the event of any stock split,
stock dividend, combination, reorganization, reclassification or other similar event affecting the Series B Stock) (a “Qualified Public Offering”). 
 (g) Lock-up. If, in connection with a registration statement filed by the Company pursuant to the Securities Act, the Company or its underwriter so requests, the Purchaser will agree not to sell
any of his or her Purchased Shares for a period not to exceed one hundred eighty (180) days following the effectiveness of such registration statement; provided, that all stockholders of the Company then holding at least 1% of the
outstanding Common Stock (on an as-converted basis) and substantially all officers and directors of the Company enter into similar agreements. 
 3. Take-Along and Bring-Along. 
 (a) Take-Along Rights. In the event
that the Parent or the members of the Parent (the “Members”) receive a bona fide offer from a third party or parties other than any Affiliate of the Parent (the “Buyer”) to purchase all or any part of the shares of
Series B Stock owned by the Parent or membership interests of Parent owned by the Members (the “Take-Along Securities”), for a specified price payable in cash or otherwise and on specified terms and conditions (the
“Take-Along Offer”), and the Parent or the Members, as applicable, proposes to sell or otherwise transfer the Take-Along Securities to the Buyer pursuant to the Take-Along Offer, the Purchaser shall have the right to sell to the
Buyer, at the same price per share of Series B Stock proposed to be sold (directly or beneficially, as the case may be) but considering the different economic rights of the membership interests in the Parent in relation to each other, and otherwise
on the same terms and conditions as stated in the Take Along Offer, such number of Purchased Shares as is equal to the Take-Along Securities multiplied by the fully-diluted percentage beneficial ownership of the Company represented by the Purchased
Shares then owned by the Purchaser. Parent shall take such steps as are reasonably necessary to give effect to the provisions of this Section 3(a) as applicable to the Members. 

(b) Notices of Offer and Intent to Participate. The Parent shall provide notice to the Purchaser stating the name of the Buyer,
the terms of the Take-Along Offer and the period of time available to the Purchaser for notifying the Parent of its intent to participate in the sale (the 

  
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“Notice Period”). The Parent shall, if reasonably possible, provide the Purchaser with a Notice Period of up to thirty (30) days, but in no event will the Parent provide the
Purchaser with a Notice Period of less than ten (10) days. If the Purchaser wishes to participate in any sale pursuant to Section 3(a), the Purchaser shall notify the Parent in writing of such intention as soon as practicable after receipt
of the notice from the Parent and in any event within the Notice Period. If the Parent does not receive such notice from the Purchaser within the Notice Period, the Parent shall be free to consummate the proposed transaction without any obligation
to include the Purchaser’s Purchased Shares in such transaction. 
 (c) Sale of Take-Along Securities. The
Purchaser, if participating, shall sell to the Buyer all, or at the option of the Buyer, any part of the Purchased Shares proposed to be sold by it at not less than the price and upon other terms and conditions, if any, not more favorable to the
Buyer than those stated in the Take-Along Offer; provided, however, that any purchase of less than all of the Series B Stock of the Company by the Buyer shall be made from the Purchaser pro rata based upon the relative
fully-diluted beneficial ownership of the Company represented by the Purchaser’s Purchased Shares. 
 (d) Bring-Along
Obligation. In the event that (x) any person or group (as such term is defined in Section 13(d) of the Securities Exchange Act of 1934, as amended) desires to acquire all or substantially all of the capital stock of the Company or
equity interests in the Parent, whether directly or indirectly, by way of sale, lease or other transfer (in one transaction or a series of related transactions) or by way of merger, consolidation, combination, exchange or any similar transaction,
(y) the Parent, or its successor-in-interest, or the Members, as applicable, desire to so transfer such capital stock to such person or group and (z) the Management Committee of the Parent approves such transaction and recommends it to the
stockholders of the Company, the Purchaser agrees to sell, lease or transfer to, or exchange with, such third party on the terms offered by such third party, a percentage of the Purchased Shares owned by it equal to the percentage of the outstanding
fully-diluted beneficial ownership of the Company being sold. 
 (e) Agreement to Vote. The Purchaser hereby agrees on
behalf of itself and any permitted transferee or assignee of any Purchased Shares, to hold all of such Purchased Shares registered in its name subject to the provisions of this Agreement, and to vote such Purchased Shares as instructed by the Parent
at any regular or special meeting (or by written consent in lieu thereof) of stockholders of the Company, for any purpose whatsoever, ordinary or extraordinary, including, without limitation, (i) amending or restating the Certificate of
Incorporation or By-laws of the Company; (ii) approving any merger, consolidation, recapitalization, reorganization of the Company in which all holders of Series B Stock are treated in the same manner or any sale, lease or exchange of all or
any part of the assets of the Company, and taking any and all action in connection therewith that may be properly taken by the stockholders of the Company; (iii) electing the directors of the Company and increasing or decreasing the number of
directors constituting the entire board of directors of the Company; and (iv) approving any stock option or similar plan presented to the stockholders of the Company for approval. 

(f) Grant of Proxy. The Purchaser hereby grants to the Parent a proxy coupled with an interest in all Purchased Shares owned from
time to time by the Purchaser, which proxy shall be irrevocable until it terminates in accordance with the terms hereof, to vote all such Purchased Shares in the manner provided in Section 3(e). 

  
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 (g) Termination of Rights. The provisions of (a) through (f) of this
Section 3 shall terminate upon the consummation of a Qualified Public Offering. 
 4. Legend. In addition to any
legend required pursuant to applicable law, all certificates representing the Purchased Shares to be issued to the Purchaser pursuant to this Agreement shall have endorsed thereon a legend substantially as follows: 

“The shares represented by this certificate are subject to restrictions set forth in a Series B Preferred Stock Purchase Agreement
dated as of              with this Company, a copy of which Agreement is available for inspection at the offices of the Company or will be made available upon request.”

 5. Purchase for Investment; Securities Law Compliance. If the offering and sale of the Purchased Shares have not been
effectively registered under the Securities Act, (a) the Purchaser hereby represents and warrants that he or she is acquiring the Purchased Shares for his or her own account, for investment, and not with a view to, or for sale in connection
with, the distribution of any such Purchased Shares, and (b) the Purchaser specifically acknowledges and agrees that any sales of Purchased Shares shall be made in accordance with the requirements of the Securities Act, in a transaction as to
which the Company shall have received an opinion of counsel satisfactory to it confirming such compliance. The Purchaser shall be bound by the provisions of the following legend which shall be endorsed upon the certificate(s) evidencing the
Purchased Shares issued: 
 “The shares represented by this certificate have been taken for investment and they may not be
sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company shall
have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws.” 

6. Rights as a Stockholder. The Purchaser shall have all the rights of a stockholder with respect to the Purchased Shares,
including voting and dividend rights, subject to the transfer and other restrictions set forth herein. The Purchaser acknowledges and agrees that nothing herein is intended to give the Purchaser any right to continued employment by the Company.

 7. Equitable Relief. The Purchaser specifically acknowledges and agrees that in the event of a breach or threatened
breach of the provisions of this Agreement, including the attempted transfer of the Purchased Shares by the Purchaser in violation of this Agreement, monetary damages may not be adequate to compensate the Company or the Parent, as applicable, and,
therefore, in the event of such a breach or threatened breach, in addition to any right to damages, the Company and the Parent shall be entitled to equitable relief in any court having competent jurisdiction. Nothing herein shall be construed as
prohibiting the Company or the Parent from pursuing any other remedies available to it for any such breach or threatened breach. 

  
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 8. Notices. Any notices required or permitted by the terms of this Agreement shall be
given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 

If to the Company or the Parent: 
  

			
	 Toolrock Holding, Inc.
	 	
	 One Cranberry Hill
	 	
	 750 Marrett Road, Suite 401
	 	
	 Lexington, MA 02421
	 	

 If to the Purchaser: 

 

			
	 	 	
	 	 	
	 	 	

 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice
shall be deemed to have been given on the earliest of receipt, one business day following delivery by the sender to a recognized courier service, or three business days following mailing by registered or certified mail. 

9. Benefit of Agreement. Subject to the other provisions hereof, this Agreement shall be for the benefit of and shall be binding
upon the heirs, executors, administrators, successors and assigns of the parties hereto. Neither party shall assign their rights or obligations under this Agreement without the consent of the other party, which consent shall not be unreasonably
withheld. 
 10. Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the State
of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, whether at law or in equity, the parties hereby consent to exclusive jurisdiction in the State
of Delaware and agree that such litigation shall be conducted in the courts of Newcastle County, Delaware or the federal courts of the United States for the District of Delaware. 

11. Severability. If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction,
then such provision or provisions shall be modified to the extent necessary to make such provision valid and enforceable, and to the extent that this is impossible, then such provision shall be deemed to be excised from this Agreement, and the
validity, legality and enforceability of the rest of this Agreement shall not be affected thereby. 
 12. Entire
Agreement. This Agreement constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes 

  
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all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this
Agreement shall affect or be used to interpret, change or restrict the express terms and provisions of this Agreement. 
 13.
Modifications and Amendments; Waivers and Consents. The terms and provisions of this Agreement may be amended, waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of
such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective
only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 
 14. Consent of Spouse. If the Purchaser is married as of the date of this Agreement, the Purchaser’s spouse shall execute a Consent of Spouse in the form of Exhibit A hereto, effective
as of the date hereof. Such consent shall not be deemed to confer or convey to the spouse any rights in the Purchased Shares that do not otherwise exist by operation of law or the agreement of the parties. If the Purchaser marries or remarries
subsequent to the date hereof, the Purchaser shall, not later than 60 days thereafter, obtain his or her new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement by such
spouse’s executing and delivering a Consent of Spouse in the form of Exhibit A hereto. 
 15. Counterparts.
This Agreement may be executed in one or more counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

[the remainder of this page has been intentionally left blank] 

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

									
		 	The Company:	 		 	TOOLROCK HOLDING, INC.
					
		 		 		 	By:	 	 
		 		 		 	Name:	 	Benjamin P. Procter
		 		 		 	Title:	 	Vice President
				
		 	The Parent:	 		 	TOOLROCK INVESTMENT, LLC
					
		 		 		 	By:	 	 
		 		 		 	Name:	 	Benjamin P. Procter
		 		 		 	Title:	 	Vice President
				
		 	The Purchaser:	 		 	 
				
		 		 		 	 

  
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 EXHIBIT A 
 CONSENT OF SPOUSE 
 I, _______________, spouse of _________________,
acknowledge that I have read the SERIES B PREFERRED STOCK PURCHASE AGREEMENT dated as of          (the “Agreement”) to which this Consent is attached as Exhibit A and that I know its
contents. Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Agreement. I am aware that by its provisions the Purchased Shares granted to my spouse pursuant to the Agreement are subject to, among
other things, a Repurchase Right in favor of Toolrock Holding, Inc. (the “Company”) and that, accordingly, the Company has the right to repurchase up to all of the Purchased Shares of which I may become possessed as a result of a
gift from my spouse or a court decree and/or any property settlement in any domestic litigation. 
 I hereby agree that my
interest, if any, in the Purchased Shares subject to the Agreement shall be irrevocably bound by the Agreement and further understand and agree that any community property interest I may have in the Purchased Shares shall be similarly bound by the
Agreement. 
 I agree to the Repurchase Right described in the Agreement and I hereby consent to the repurchase of the Purchased
Shares by the Company and the sale of the Purchased Shares by my spouse or my spouse’s legal representative in accordance with the provisions of the Agreement. Further, as part of the consideration for the Agreement, I agree that at my death,
if I have not disposed of any interest of mine in the Purchased Shares by an outright bequest of the Purchased Shares to my spouse, then the Company shall have the same rights against my legal representative to exercise its rights of repurchase with
respect to any interest of mine in the Purchased Shares as it would have had pursuant to the Agreement if I had acquired the Purchased Shares pursuant to a court decree in domestic litigation. 

I AM AWARE THAT THE LEGAL, FINANCIAL AND RELATED MATTERS CONTAINED IN THE AGREEMENT ARE COMPLEX AND THAT I AM FREE TO SEEK INDEPENDENT
PROFESSIONAL GUIDANCE OR COUNSEL WITH RESPECT TO THIS CONSENT. I HAVE EITHER SOUGHT SUCH GUIDANCE OR COUNSEL OR DETERMINED AFTER REVIEWING THE AGREEMENT CAREFULLY THAT I WILL WAIVE SUCH RIGHT. 

Dated as of the _______ day of         . 

 

	
	  
	Name:Securities Purchase Agreement, dated as of March 17, 2010

 Exhibit 10.19 

 
  

 
 SECURITIES PURCHASE AGREEMENT

 by and among 
 TOOLROCK INVESTMENT, LLC, 
 TOOLROCK HOLDING, INC. 

and 
 THE
PURCHASERS NAMED ON THE SIGNATURE PAGES HERETO 
 Dated as of March 17, 2010 

 
  

 

 TABLE OF CONTENTS 

 

					
	 1.
	  	INCORPORATION OF RECITALS; DEFINITIONS; CERTAIN RULES OF CONSTRUCTION	  	2
			
		  	1.1. Incorporation of Recitals	  	2
			
		  	1.2. Definitions	  	2
			
		  	1.3. Certain Rules of Construction	  	6
			
	 2.
	  	PURCHASE OF UNITS; CLOSING OF CONTEMPLATED TRANSACTIONS	  	6
			
		  	2.1. Purchase of Units	  	6
			
		  	2.2. The Closing	  	6
			
		  	2.3. Closing Deliveries	  	6
			
	 3.
	  	REPRESENTATIONS AND WARRANTIES OF THE LLC AND THE COMPANY	  	7
			
		  	3.1. Organization, Good Standing and Qualification	  	8
			
		  	3.2. Capitalization	  	8
			
		  	3.3. Authorization	  	8
			
		  	3.4. Valid Issuance of the Units and the Shares	  	8
			
		  	3.5. Consents	  	9
			
		  	3.6. Litigation	  	10
			
		  	3.7. Brokerage Fees, etc.	  	10
			
	 4.
	  	REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS	  	10
			
		  	4.1. Legal Capacity; Due Authorization	  	10
			
		  	4.2. Restrictions on Transfer	  	10
			
		  	4.3. Accredited Investor, etc.	  	11
			
		  	4.4. Brokerage Fees etc.	  	11
			
	 5.
	  	COVENANTS	  	11
			
		  	5.1. Fees and Expenses	  	11
			
		  	5.2. Confidentiality	  	12
			
		  	5.3. Transfer Taxes	  	12
			
		  	5.4. Use of Proceeds	  	13
			
		  	5.5. Further Assurances	  	13

					
			
	6.	  	INDEMNIFICATION	  	13
			
		  	6.1. Indemnification	  	13
			
		  	6.2. Additional Provisions Regarding Indemnification	  	14
			
	7.	  	MISCELLANEOUS	  	15
			
		  	7.1. Notices	  	15
			
		  	7.2. Succession and Assignment; No Third-Party Beneficiary	  	15
			
		  	7.3. Amendments and Waivers	  	16
			
		  	7.4. Signature	  	16
			
		  	7.5. Entire Agreement	  	16
			
		  	7.6. Counterparts	  	16
			
		  	7.7. Severability	  	16
			
		  	7.8. Headings	  	16
			
		  	7.9. Governing Law	  	16
			
		  	7.10. Specific Performance	  	17
			
		  	7.11. Waiverof Jury Trial	  	17
			
		  	7.12. Jurisdiction	  	17

  
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 EXHIBITS 

 

			
	Exhibit A	  	Operating Agreement
	Exhibit B	  	Registration Rights Agreement
	Exhibit C	  	Certificate of Formation of the LLC
	Exhibit D	  	Amended and Restated Certificate of Incorporation of the Company
	Exhibit E	  	Bylaws of the Company

 SCHEDULES

  

			
	Schedule 3.2	  	Capitalization
	Schedule 3.4.3	  	Preemptive Rights; Redemption; Registration Rights
	Schedule 3.5	  	Consents

 ANNEXES 
  

			
	Annex I	  	Allocation of Units and Purchase Price
	Annex II	  	Addresses for Notices to Purchasers

  
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 SECURITIES PURCHASE AGREEMENT 

This SECURITIES PURCHASE AGREEMENT (this “Agreement”) is entered into as of March 17, 2010 by and among Toolrock
Investment, LLC, a Delaware limited liability company (the “LLC”); Toolrock Holding, Inc., a Delaware corporation and a majority-owned subsidiary of the LLC (the “Company”); and each of the purchasers named on the
signature pages hereto (collectively, the “Purchasers”). 
 RECITALS 

A. As of the date hereof and immediately prior to giving effect to the transactions contemplated hereby, the Purchasers and their
Affiliates collectively own 100% of the membership interests of the LLC (the “Membership Interests”). 
 B. The
LLC desires to sell to the Purchasers, and the Purchasers desire to purchase from the LLC, newly issued Units (as defined below) (the “Purchase”) representing the right to participate in distributions made in respect of the shares
of Series B Convertible Participating Preferred Stock, par value $0.01 per share (the “Senior Preferred Stock”), of the Company, all upon the terms and subject to the conditions set forth in this Agreement. Simultaneously with the
closing of the Purchase (the “Closing”), the proceeds thereof will be used by the LLC to acquire shares of the Senior Preferred Stock representing approximately 24.5393% of the Company’s fully-diluted capital stock on an
as-converted basis (the “Shares”). 
 C. Simultaneously with the execution and delivery of this Agreement, the
LLC and/or the Company and the other parties thereto have entered into the Operating Agreement, the Registration Rights Agreement, the Fourth Amendment Agreement, the Second Senior Credit Amendment and the Subordination Amendment (each as defined
below; this Agreement, the Operating Agreement and the Registration Rights Agreement being referred to collectively as the “Transaction Documents”). 
 D. Contemporaneously with the Closing, (i) the Company is issuing to the Sankaty Parties (as defined below) warrants to purchase an aggregate of 135,556 shares of the Company’s voting Common
Stock, par value $0.01 per share (the “Common Warrants”), and warrants to purchase an aggregate of 3,498,889 shares of the Company’s Series A Convertible Participating Preferred Stock, par value $0.01 per share (the
“Preferred Warrants” and, together with the Common Warrants, collectively, the “Warrants”), with such Warrants representing approximately 7.4068% ownership of the Company on a fully-diluted, as-converted basis, and
(ii) pursuant to the Fourth Amendment Agreement, Latrobe Steel Company, a Pennsylvania corporation (“Latrobe”), and OH&R Special Steels Company, a Delaware corporation (“OH&R” and, together with
Latrobe, collectively, the “Note Issuers”), are issuing to the Sankaty Parties Senior Subordinated Secured Notes due June 8, 2013 in the aggregate principal amount of $10,204,081.63 (the “Notes”) for an
aggregate purchase price of $10,000,000.00 in cash, all upon the terms and subject to the conditions set forth in the Note Purchase Agreement (as defined below). 

 E. The parties hereto intend that the transactions contemplated by the Transaction Documents
(including the issuance and sale of the Units, the Shares, the Notes and the Warrants) occur substantially contemporaneously at the Closing. 
 AGREEMENT 
 NOW THEREFORE, in consideration of the premises and mutual promises
herein made, and the representations, warranties and covenants herein contained, the parties hereto hereby agree as follows: 

1. INCORPORATION OF RECITALS; DEFINITIONS; CERTAIN RULES OF CONSTRUCTION. 

1.1. Incorporation of Recitals. The LLC and the Company hereby stipulate, acknowledge and affirm as being accurate
each of the foregoing Recitals, and each of the Recitals is hereby incorporated as part of this Agreement. 

1.2. Definitions. As used herein, the following terms shall have the following respective meanings: 

“Affiliate” means, as to any Person, any other Person which, directly or indirectly, is in control of, is controlled by,
or is under common control with such Person. A Person shall be deemed to control another Person if the controlling Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of the other
Person, whether through the ownership of voting securities, by contract or otherwise. Without limitation, any director, executive officer or beneficial owner of ten percent (10%) or more of the Equity Interests of a Person shall, for the
purposes of this Agreement, be deemed to control the other Person. 
 “Agreement” is defined in the Preamble.

 “Business Day” means any weekday other than a weekday on which banks in New York, NY are authorized or
required to be closed. 
 “Certificate of Incorporation” is defined in Section 3.1. 

“Closing” is defined in Recital B. 
 “Closing Date” means the date on which the Closing actually occurs. 
 “Common Warrants” is defined in Recital D. 

“Company” is defined in the Preamble. 
 “Contemplated Transactions” means, collectively, the transactions contemplated by this Agreement, including (a) the issuance and sale of the Units, the Shares and the Warrants and
(b) the execution, delivery and performance of this Agreement and each of the other Transaction Documents. 

  
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 “Contractual Obligation” means, with respect to any Person, any contract,
agreement, deed, mortgage, lease, license, commitment, promise, undertaking, arrangement or understanding, whether written or oral and whether express or implied, or other document or instrument (including any document or instrument evidencing or
otherwise relating to any debt obligation) to which or by which such Person is a party or otherwise subject or bound or to which or by which any property, business, operation or right of such Person is subject or bound. 

“Encumbrance” means any charge, claim, community or other marital property interest, condition, equitable interest,
lien, license, option, pledge, security interest, mortgage, right of way, easement, encroachment, servitude, right of first offer or first refusal, buy/sell agreement and any other restriction or covenant with respect to, or condition governing the
use, construction, voting (in the case of any security or equity interest), transfer, receipt of income or exercise of any other attribute of ownership. 
 “Enforceable” means, with respect to any Contractual Obligation stated to be Enforceable by or against any Person, that such Contractual Obligation is a legal, valid and binding
obligation of such Person enforceable by or against such Person in accordance with its terms, except to the extent that enforcement of the rights and remedies created thereby is subject to bankruptcy, insolvency, reorganization, moratorium and other
similar laws of general application affecting the rights and remedies of creditors and to general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law). 

“Equity Interests” means (a) any capital stock, share, partnership or membership interest, unit of participation or
other similar interest (however designated) in any Person, whether voting or nonvoting, and (b) any option, warrant, purchase right, conversion right, exchange rights or other Contractual Obligation which would entitle any Person to acquire any
such interest in such Person or otherwise entitle any Person to share in the equity, profit, earnings, losses or gains of such Person (including stock appreciation, phantom stock, profit participation or other similar rights). 

“Fourth Amendment Agreement” means the Waiver and Fourth Amendment Agreement, dated as of the date hereof, by and among
the Note Issuers, Specialty Steel, the Company, the Sankaty Parties and Sankaty Advisors, as collateral agent for the Sankaty Parties. 
 “Governmental Authority” means any United States federal, state or local or any foreign government, or political subdivision thereof, or any multinational organization or authority or any
authority, agency or commission entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power, any court or tribunal (or any department, bureau or division thereof), or any arbitrator or
arbitral body. 
 “Governmental Order” means any order, writ, judgment, injunction, decree, stipulation,
ruling, determination or award entered by or with any Governmental Authority. 
 “Indemnified Liabilities” is
defined in Section 6.1. 
 “Indemnitees” is defined in Section 6.1. 

“Indemnitor” is defined in Section 6.1. 

  
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 “Information” is defined in Section 5,2. 

“Latrobe” is defined in Recital D. 
 “Legal Requirement” means any present or future United States federal, state or local or foreign law, statute, standard, ordinance, code, rule, regulation, resolution or promulgation, or
any Governmental Order, or any license, franchise, permit or similar right granted under any of the foregoing, or any similar provision having the force or effect of law. 
 “LLC” is defined in the Preamble. 
 “Membership
Interests” is defined in Recital A. 
 “Note Issuers” is defined in Recital D.

 “Note Purchase Agreement” means the Securities Purchase Agreement, dated as of December 8, 2006, by and
among the Note Issuers, the Company, the Sankaty Parties and Sankaty Advisors, as collateral agent for the Sankaty Parties, as amended, restated or modified from time to time (including, for the avoidance of doubt, pursuant to the Fourth Amendment
Agreement). 
 “Notes” is defined in Recital D. 

“OH&R” is defined in Recital D. 
 “Operating Agreement” means the Amended and Restated Limited Liability Company Agreement of the LLC, dated as of March 17, 2010, by and among the LLC and the members party thereto,
substantially in the form of Exhibit A hereto. 
 “Organizational Documents” means, with respect to any
Person, such Person’s articles and by-laws if a corporation, operating agreement and certificate of formation if a limited liability company, limited partnership agreement and certificate of limited partnership if a limited partnership, and
other similar governing documents with respect to any other entity. 
 “Person” means any entity, whether of
natural or legal constitution, including any present or future individual, corporation, association, partnership, limited liability company, joint venture, joint stock or other company, business trust, trust, organization, Governmental Authority or
other entity of any kind. 
 “Preferred Warrants” is defined in Recital D. 

“Proceeding” is defined in Section 7.12. 

“Purchase” is defined in Recital B. 
 “Purchase Price” is defined in Section 2.1. 

“Purchasers” is defined in the Preamble. 

  
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 “Registration Rights Agreement” means the Amended and Restated Registration
Rights Agreement, dated as of the date hereof, by and among the LLC, the Purchasers and the other members of the LLC party thereto, substantially in the form of Exhibit B hereto. 

“Sankaty Advisors” means Sankaty Advisors, LLC, a Delaware limited liability company. 

“Sankaty Parties” means, collectively, Sankaty Credit Opportunities II, L.P., a Delaware limited partnership; Prospect
Harbor Credit Partners, L.P., a Delaware limited partnership; Sankaty High Yield Partners III, L.P., a Delaware limited partnership; and RGIP, LLC, a Delaware limited liability company. 

“Second Senior Credit Amendment” means the Waiver and Amendment No. 2 to Loan and Security Agreement, dated as of
the date hereof, in respect of the Senior Credit Agreement, by and among the Note Issuers, Specialty Steel, the Company, the agent party thereto and the other parties thereto. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Senior Credit Agreement” means the Loan and Security Agreement, dated as of March 6, 2008, by and among the Note
Issuers, Specialty Steel, the Company, the agent party thereto and the other parties thereto, as amended, restated or modified from time to time (including, for the avoidance of doubt, pursuant to the Second Senior Credit Amendment). 

“Senior Preferred Stock” is defined in Recital B. 

“Shares” is defined in Recital B. 
 “Specialty Steel” means Specialty Steel Supply, Inc., a Texas Corporation. 
 “Subordination Amendment” means Amendment No. 1 to Intercreditor and Subordination Agreement, dated as of the date hereof, by and among the Sankaty Parties, Sankaty Advisors, the
senior collateral agent party thereto and the other parties thereto. 
 “Subsidiary” means, with respect to any
specified Person, any other Person of which such specified Person will, at the time, directly or indirectly through one or more Subsidiaries, (a) own at least 50% of the outstanding capital stock (or other shares of beneficial interest)
entitled to vote generally, (b) hold at least 50% of the partnership, limited liability company, joint venture or similar interests or (c) be a general partner, managing member or joint venturer. 

“Transaction Documents” is defined in Recital C. 

“Transaction Expenses” means all costs, fees and expenses incurred by the Purchasers on or prior to the Closing Date in
connection with the due diligence review conducted by the Purchasers relating to the Contemplated Transactions or in connection with the negotiation, execution and delivery of this Agreement, the other Transaction Documents or the transactions
contemplated hereby or thereby, including the costs, fees and expenses of the Purchasers’ respective agents, attorneys, accountants, consultants, appraisers and representatives performing any of the foregoing (including, without limitation,
Ropes & Gray LLP). 

  
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 “Transfer Taxes” is defined in Section 5.3. 

“Units” means an aggregate of 6,194,856, 3,910,503 and 1,935,892 of the LLC’s Series 4 Units, Series 5 Units and
Series 6 Units (each such term being used herein as defined in the Operating Agreement), respectively. 

“Warrants” is defined in Recital D. 

1.3. Certain Rules of Construction. Except as otherwise explicitly specified to the contrary, (a) references
to a Section, Annex, Exhibit or Schedule means a Section of, or Annex, Exhibit or Schedule to, this Agreement, unless another agreement is specified, (b) the word “including” will be construed as “including without
limitation,” (c) references to a particular statute or regulation include all rules and regulations thereunder and any successor statute, rules or regulations, in each case, as amended or otherwise modified from time to time,
(d) words in the singular or plural form include the plural and singular form, respectively, (e) references to the masculine, feminine or neuter gender shall include each other gender, (f) references to a particular Person include
such Person’s successors and assigns to the extent not prohibited by this Agreement and (g) any reference to “$” or “dollars” means United States dollars. 

2. PURCHASE OF UNITS; CLOSING OF CONTEMPLATED TRANSACTIONS. 

2.1. Purchase of Units. At the Closing, subject to the terms and conditions of this Agreement, the LLC shall issue,
sell and deliver to the Purchasers, and each of the Purchasers shall purchase from the LLC, severally and not jointly, the number of Units set forth opposite such Purchaser’s name on Annex I hereto in consideration of the payment to the
LLC by such Purchaser, by wire transfer of immediately available funds, of such Purchaser’s portion of the Purchase Price set forth opposite such Purchaser’s name on Annex I hereto. The aggregate purchase price for all of the Units
issued pursuant to this Agreement is $9,939,277.66 (the “Purchase Price”). The Purchasers shall be entitled to conclusively rely on all payment instructions provided to them by or on behalf of the LLC pursuant to this
Section 2.1. 
 2.2. The Closing. The Closing shall take place at the offices of
Ropes & Gray LLP at One International Place, Boston, Massachusetts 02110 on the date hereof, or at such other date, time and/or location as may be agreed upon by the parties hereto, subject to the terms and conditions hereof, including,
without limitation, the simultaneous execution and delivery of the other Transaction Documents. 
 2.3.
Closing Deliveries. 
 2.3.1. Deliveries by the LLC and the Company to the Purchasers. The
obligation of each Purchaser to purchase and pay for the Units provided hereunder is subject to (unless otherwise waived by each of the Purchasers) the LLC and the Company delivering on or prior to the Closing Date the following to each of the
Purchasers, in each case, in form and substance satisfactory to such Purchaser: 

  
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 (a) copies of this Agreement and each of the other Transaction Documents to
which such Purchaser is a party, duly executed by each of the parties hereto and thereto; 
 (b) copies of the
certificates representing Shares issued to the LLC; 
 (c) such Purchaser’s Transaction Expenses, by wire
transfer of immediately available funds; 
 (d) legal opinion or opinions from counsel to the LLC and the Company
relating to the due authorization and valid issuance of the Units and the Shares and other matters as the Purchasers may reasonably request; 
 (e) copies of the minutes of the meeting, or unanimous written consent, of (i) the Board of Directors or other applicable governing body of each of the LLC and the Company and (ii) the holders
of the Membership Interests, in each case, approving each of this Agreement, the other Transaction Documents and the Contemplated Transactions; 
 (f) certificates of the appropriate officers of each of the LLC and the Company certifying (i) that all representations and warranties of the LLC and the Company, respectively, set forth in this
Agreement are true and correct in all respects and (ii) as to such other matters as the Purchasers may reasonably request; and 
 (g) certificates of the secretaries of each of the LLC and the Company as to the absence of any amendments to their respective Organizational Documents, the resolutions taken pursuant to the minutes
and/or consents referred to in Section 2.3.1(e) above and the incumbency and signatures of certain officers of the LLC and the Company who signed this Agreement and the other Transaction Documents. 

2.3.2. Deliveries by the Purchasers to the LLC and the Company. Each of the Purchasers is delivering to the LLC and
the Company at the Closing (a) copies of this Agreement and each of the other Transaction Documents to which such Purchaser is a party, duly executed by such Purchaser, and (b) such Purchaser’s, portion of the Purchase Price.

 3. REPRESENTATIONS AND WARRANTIES OF THE LLC AND THE COMPANY. 

In order to induce each Purchaser to enter into this Agreement and to purchase the Units to be purchased by such Purchaser hereunder, the
LLC and the Company hereby represent and warrant, jointly and severally, to each of the Purchasers that, as of the Closing Date (unless otherwise stated, both before and after giving effect to the issuance of the Units and the other Contemplated
Transactions or in connection with the foregoing): 

  
 - 7 -

 3.1. Organization, Good Standing and Qualification. Each of the LLC
and the Company is a legal entity duly organized, validly existing and in good standing under the laws of the State of Delaware. Each of the LLC and the Company has all requisite limited liability company or corporate power and authority to conduct
its business as now conducted or contemplated to be conducted. Each of the LLC and the Company is duly qualified as a foreign entity and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by
it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not reasonably be expected to result in a material adverse effect on the business, assets, financial condition
or income of the LLC and its Subsidiaries (including the Company), taken as a whole, or the ability of the LLC or the Company to perform its obligations under this Agreement. Certified copies of the Certificate of Formation of the LLC and the
Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) and the Bylaws of the Company are attached as Exhibits C, D and E hereto, respectively, and are correct and complete.

 3.2. Capitalization. Prior to the Closing, all of the outstanding Equity Interests of the LLC and each
of its Subsidiaries (including the Company) are held and beneficially owned by the Persons and in the respective amounts set forth in Part A of Schedule 3.2. At and immediately after the Closing, all of the outstanding Equity Interests
of the LLC and the Company will be held and beneficially owned by the Persons and in the respective amounts set forth in Part B of Schedule 3.2. Except as disclosed in Part C of Schedule 3.2, neither the LLC nor any of
its Subsidiaries (including the Company) controls, directly or indirectly, or owns any direct or indirect Equity Interest in, any Person. At and immediately after the Closing, the Series 4 Capital Members, the Series 5 Capital Members and the Series
6 Capital Members (each as defined in the Operating Agreement) will respectively hold the Series 4 Units, the Series 5 Units and the Series 6 Units (each as defined in the Operating Agreement), with the various rights and privileges set forth in the
Operating Agreement, and there will be no profits or carried interest or any similar right with respect to the Series 4 Units or the Series 6 Units. 
 3.3. Authorization. Each of the LLC and the Company has the requisite limited liability company or corporate power and authority to execute, deliver and perform its obligations under this Agreement
and the other Transaction Documents to which it is a party. All action on the part of each of the LLC and the Company and each of such Person’s officers, directors, members or partners necessary for the authorization, execution and delivery of
this Agreement and the other Transaction Documents to which it is a party, the performance of all its obligations hereunder and thereunder and, in the case of the LLC, the authorization, issuance and delivery of the Units being sold hereunder, and,
in the case of the Company, the authorization, issuance and delivery of the Shares, have been taken, and this Agreement and the other Transaction Documents to which such Person is a party constitute valid and legally binding obligations of such
Person, Enforceable against such Person in accordance with their respective terms. 
 3.4. Valid Issuance of
the Units and the Shares. 

  
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 3.4.1. Valid Issuance of the Units. The Units, when issued, sold and
delivered to the Purchasers in accordance with the terms hereof for the consideration expressed herein, will be duly and validly authorized and issued, fully paid and non-assessable, and free and clear of all Encumbrances, other than restrictions
imposed under this Agreement, the Operating Agreement and applicable United States state or federal securities laws, and, immediately following the Closing, each of the Purchasers will be the record and beneficial owner of all of the Units set forth
opposite such Purchaser’s name on Annex I. The LLC has not violated any preemptive or other similar rights of any Person in connection with the issuance and sale of the Units and, assuming the truth and accuracy of the Purchasers’
representations set forth in Article 4 of this Agreement, the offer, sale and issuance of the Units as contemplated by this Agreement is exempt from the registration requirements of the Securities Act or any state “blue sky” or
securities laws. Neither the LLC or the Company nor any authorized agent acting on their behalf has taken or will take any action hereafter that would cause the loss of such exemption, including without limitation, by means of general solicitation
or publicly disseminated advertisements or sales literature. 
 3.4.2. Valid Issuance of the Shares. The
Shares, which are being issued by the Company to the LLC contemporaneously with the Closing, when issued, sold and delivered to the LLC, will be duly and validly authorized and issued, fully paid and non-assessable, and free and clear of all
Encumbrances, other than restrictions imposed under the Certificate of Incorporation and applicable United States state or federal securities laws. 
 3.4.3. Preemptive Rights; Redemption; Registration Rights. Except as disclosed on Schedule 3.4.3: (a) there are no preemptive rights or other similar rights in respect of any Equity
Interests in the LLC or the Company, (b) except for the Contemplated Transactions, the Operating Agreement and the Certificate of Incorporation, there is no Contractual Obligation, or provision in the Organizational Documents of the LLC or the
Company, which obligates the LLC or the Company to purchase, redeem or otherwise acquire, or make any payment (including any dividend or distribution) in respect of, any Equity Interests in the LLC or the Company and (c) there are no existing
rights with respect to registration under the Securities Act of any Equity Interests in the LLC or the Company. 

3.5. Consents. Except as set forth on Schedule 3.5, no consent, approval, order or authorization of, or
registration, qualification, designation, declaration or filing with, any federal, state or local Governmental Authority, or any third party in connection with any material agreement to which the LLC and/or the Company are party in order to avoid
such material agreement being in default after giving effect to the issuance of the Units, the execution of this Agreement and the other Transaction Documents and the consummation of the Contemplated Transactions, which has not been obtained, is
required to be obtained or made by the LLC or the Company in connection with the consummation of the Contemplated Transactions or in order to avoid the occurrence of a 

  
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default under any such material agreement or a termination right under any such material agreement arising as a result of the issuance of the Units, the execution of this Agreement and the other
Transaction Documents and the consummation of the Contemplated Transactions. 
 3.6. Litigation. There is
no action, suit, proceeding or investigation pending or, to the best of the knowledge, information and reasonable belief of the LLC and/or the Company, currently threatened which questions the validity of this Agreement, the Units, the Warrants, the
Notes, the other Transaction Documents or the right of the LLC and/or the Company to enter into the Transaction Documents, or to consummate the Contemplated Transactions. Neither the LLC nor the Company is a party to any action, suit, proceeding or
investigation, and neither the LLC nor the Company intends to initiate any action, suit, proceeding or investigation, nor is there any reasonable basis for the foregoing. Neither the LLC nor the Company is a party or subject to the provisions of any
order, writ, injunction, judgment or decree of any Governmental Authority. 
 3.7. Brokerage Fees, etc. No
broker’s, finders’ or placement fee or commission will be payable to any Person retained, directly or indirectly, by or on behalf of the LLC or the Company with respect to any of the Contemplated Transactions. The LLC and the Company
hereby indemnify, severally and jointly, each Purchaser against, and agree that they will, severally and jointly, hold each such Purchaser harmless from any claim, demand or liability, including reasonable attorneys’ fees, for any
broker’s, finder’s or placement fee or commission incurred by the LLC and/or the Company. 
 4. REPRESENTATIONS AND
WARRANTIES OF THE PURCHASERS. 
 Each of the Purchasers hereby represents and warrants to the LLC and the Company and, solely
with respect to the representations and warranties set forth in Section 4.4, to each of the other parties hereto, solely as to such Purchaser and not on behalf of any of the other Purchasers, that: 

4.1. Legal Capacity; Due Authorization. Such Purchaser has full legal capacity, power and authority to execute and
deliver this Agreement and to perform its obligations hereunder; this Agreement has been duly executed and delivered by such Purchaser and constitutes the legal, valid and binding obligation of such Purchaser, Enforceable against such Purchaser in
accordance with the terms hereof. 
 4.2. Restrictions on Transfer. Such Purchaser has been advised that
the Units have not been registered under the Securities Act or any state securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless an exemption from such
registration requirements is available, and that the Units may have to be held by such Purchaser for an indefinite period of time. Such Purchaser is aware that, except as provided in the Operating Agreement and the Registration Rights Agreement with
respect to the Units, the LLC is not under any obligation to effect any such registration with respect to the Units or to file for or comply with any exemption from registration. Such Purchaser is purchasing the Units to be acquired by such
Purchaser hereunder for its own account and 

  
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not with a view to, or for resale in connection with, the distribution thereof in violation of the Securities Act; provided, however, that the disposition of such Purchaser’s
property shall at all times be and remain in its control and sole discretion. 
 4.3. Accredited Investor,
etc. Such Purchaser has such knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of its investment in the Units hereunder, is able to incur a complete loss of such investment and to
bear the economic risk of such investment for an indefinite period of time. Such Purchaser (i) is an “accredited investor,” as that term is defined in Regulation D under the Securities Act, and (ii) has been represented by
counsel in the purchase of the Units to be purchased by it hereunder and is aware of the limitations of state and federal securities laws with respect to the disposition of the Units. Such Purchaser acknowledges that such Purchaser has had an
opportunity to examine the financial and business affairs of the LLC and its Subsidiaries (including the Company) and an opportunity to ask questions of and receive answers from the LLC’s and its Subsidiaries’ management. 

4.4. Brokerage Fees, etc. Such Purchaser represents and warrants that no broker’s, finder’s or placement
fee or commission will be payable to any Person alleged to have been retained by such Purchaser with respect to any of the transactions contemplated by this Agreement. Such Purchaser hereby indemnifies each other party hereto against, and agrees
that it will hold each such party harmless from, any claim, demand or liability, including reasonable attorneys’ fees, for any broker’s, finder’s or placement fee or commission alleged to have been incurred by such Purchaser.

 5. COVENANTS. 
 5.1. Fees and Expenses. Each of the parties hereto shall bear its own costs and expenses (including legal, accounting, consulting, advisory and brokerage fees and expenses) incurred by it in
connection with the transactions contemplated by this Agreement, except that the LLC and the Company, jointly and severally, shall be responsible for the Purchasers’ Transaction Expenses and the Company shall reimburse the Purchasers for such
Transactions Expenses in full at Closing. In addition, (i) if in connection with a liquidation, dissolution or winding up of the Company or an event that constitutes a Deemed Liquidation Event (as defined in the Certificate of Incorporation of
the Company), the holders of the Series B Preferred Stock receive, in lieu of the Series B Liquidation Price, the amount payable in respect of the number of shares of Common Stock into which the Series B Preferred Stock is then convertible,
(ii) upon a conversion of the Series B Preferred Stock into Common Stock at a Mandatory Conversion Time, or (iii) upon a conversion of shares of Series B Preferred Stock into Common Stock pursuant to the Conversion Rights, in each case
which includes a supplemental payment of a cash amount equal to the Series B Original Issue Price and the Series B Accruing Dividend in respect of each such share of Series B Preferred Stock so converted or deemed converted, then upon consummation
of such liquidation, dissolution, winding up or Deemed Liquidation Event or at such Mandatory Conversion Time or upon exercise of such Conversion Rights, as the case may be, the Company shall pay to the Sankaty Parties (or their transferees), pro
rata in accordance with the number of Warrants (or 

  
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securities issued upon exercise of the Warrants) then held, a fee in the aggregate amount of $799,926.41; provided, however, that if the number of Warrants (or securities issued
upon exercise thereof) is reduced pursuant to Section 5.2 of the Warrants, the aggregate amount of the fee shall be proportionately reduced; provided, further, that in the case where less than all of the shares of Series B
Preferred Stock originally issued are converted or deemed converted, the aggregate amount of the fee shall also be proportionately reduced. 
 5.2. Confidentiality. Each Purchaser agrees to keep confidential (and to cause its respective officers, directors, employees, agents and representatives to keep confidential) all information,
materials and documents concerning the business of the LLC and its Subsidiaries (including the Company) furnished to such Purchaser by the LLC or its Subsidiaries (including the Company) or on their behalf pursuant to this Agreement
(“Information”). Notwithstanding the foregoing, any Purchaser may disclose any Information (i) to its officers, managers, members, partners, directors, employees, agents and representatives provided that such Information shall
remain confidential; (ii) to the extent required by an applicable Legal Requirement or by any subpoena or similar legal process, or to the extent requested by any Governmental Authority, in which event such Purchaser agrees to provide notice
thereof to the LLC; (iii) to the extent such Information (A) becomes publicly available other than as a result of a breach of this Agreement by such Purchaser, (B) becomes available to such Purchaser on a non-confidential basis from a
source other than the LLC or its Subsidiaries (including the Company) other than from a third party whom such Purchaser is aware is breaching its confidentiality obligations to the LLC or its Subsidiaries (including the Company) or (C) was
available to such Purchaser on a non-confidential basis prior to its disclosure to such Purchaser by the LLC or its Subsidiaries (including the Company); (iv) to the extent the LLC or its Subsidiaries (including the Company) shall have
consented to such disclosure in writing; (v) in connection with the assignment of any Units; provided that the recipient of Information agrees to maintain the confidentiality of such Information; (vi) to its respective investors or
lenders in connection with any reporting performed by such Purchaser to any such Persons provided that the recipient of Information agrees to maintain the confidentiality of the Information; or (vii) in connection with the exercise of its
rights and remedies under this Agreement or the other Transaction Documents. Notwithstanding anything else in this Agreement, or in any other written or oral understanding or agreement to which the parties hereto are parties or by which they are
bound, each party (and its representatives, agents and employees) may consult any tax advisor regarding the tax treatment and tax structure of the transaction and may disclose to any Person, without limitation, the tax treatment and tax structure of
the transaction and all materials (including opinions or other tax analyses) that are provided relating to such treatment or structure. 
 5.3. Transfer Taxes. Any documentary, stamp or other transfer Tax (including penalties and interest) (collectively, “Transfer Taxes”) which may be payable by reason of the
transactions contemplated by this Agreement shall be borne and timely paid by the LLC and/or the Company, and the LLC and/or the Company shall file any necessary tax returns and other documentation with respect to all such Transfer Taxes.

  
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 5.4. Use of Proceeds. The proceeds of the Purchase shall be used by
the LLC to acquire the Shares from the Company. The Company shall use such proceeds to refinance a portion of its senior credit facility under the Senior Credit Agreement and to reimburse the Purchasers for their Transaction Expenses in accordance
with Section 5.1. Any remainder of such proceeds shall be used by the Company for general business purposes. 
 5.5. Further Assurances. From and after the Closing Date, upon the request of a party hereto and without further expense to such party, each of the other parties hereto shall do, execute,
acknowledge and deliver all such further acts, assurances, deeds, assignments, transfers, conveyances and other instruments and papers as may be reasonably required or appropriate to carry out the Contemplated Transactions. 

6. INDEMNIFICATION. 
 6.1. Indemnification. In addition to the payment of Transaction Expenses pursuant to Section 5.1. each of the LLC and the Company (an “Indemnitor”) agrees, jointly and
severally, to indemnify, pay and hold the Purchasers, and the officers, directors, partners, managers, members, employees, agents, and Affiliates of the Purchasers (collectively, the “Indemnitees”) harmless from and against any and
all other liabilities, costs, expenses, obligations, losses, damages, penalties, actions, judgments, suits, claims and disbursements of any kind or nature whatsoever (including, without limitation, the reasonable fees and disbursements of one
counsel for such Indemnitees) as a result of, arising out of or in connection with any breach of, or inaccuracy in, any representation or warranty made by an Indemnitor in this Agreement or in any Schedule, certificate or other document or
instrument (other than the Fourth Amendment Agreement or the Subordination Agreement) executed and delivered by an Indemnitor pursuant to this Agreement, any breach or violation of any covenant or agreement of an Indemnitor (including under this
Section 6.1) in or pursuant to this Agreement, fraud, fraud in the inducement or intentional misrepresentation of an Indemnitor, or any investigative, administrative or judicial proceeding commenced or threatened (excluding claims among
Indemnitees), whether or not such Indemnitee shall be designated a party thereto, which may be imposed on, incurred by, or asserted against that Indemnitee, in any manner relating to or arising out of this Agreement, the other Transaction Documents,
the Units or the Purchasers’ agreement to purchase the Units or the use or intended use of any of the proceeds thereof (collectively, the “Indemnified Liabilities”); provided that the Indemnitors shall not have any
obligation to an Indemnitee hereunder with respect to an Indemnified Liability solely to the extent that such Indemnified Liability arises from the gross negligence, bad faith or willful misconduct of such Indemnitee. Each Indemnitee shall give the
Indemnitors prompt written notice of any claim that might give rise to Indemnified Liabilities setting forth a description of those elements of such claim of which such Indemnitee has knowledge; provided that any failure to give such notice
shall not affect the obligations of an Indemnitor unless (and then solely to the extent) such Indemnitor is materially prejudiced thereby. An Indemnitor shall have the right at any time during which such claim is pending to select counsel to defend
and control the defense thereof and settle any claims for which it is responsible for indemnification hereunder (provided that such Indemnitor will not settle 

  
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any such claim without (i) the appropriate Indemnitee’s prior written consent, which consent shall not be unreasonably withheld, or (ii) obtaining an unconditional release of the
appropriate Indemnitee from all claims arising out of or in any way relating to the circumstances involving such claim and without any admission as to culpability or fault of such Indemnitee) so long as in any such event such Indemnitor shall have
stated in a writing delivered to such Indemnitee that, as between such Indemnitor and such Indemnitee, such Indemnitor is responsible to such Indemnitee with respect to such claim to the extent and subject to the limitations set forth herein;
provided that such Indemnitor shall not be entitled to control the defense of any claim in the event that, in the reasonable opinion of counsel for such Indemnitee, there are one or more material defenses available to such Indemnitee which
are not available to such Indemnitor; provided, further, that with respect to any claim as to which such Indemnitee is controlling the defense, such Indemnitor will not be liable to any Indemnitee for any settlement of any claim
pursuant to this Section 6.1 that is effected without its prior written consent, which consent shall not be unreasonably withheld. To the extent that the undertaking to indemnify, pay and hold harmless set forth in this
Section 6.1 may be unenforceable because it violates any Legal Requirement or public policy, each Indemnitor shall contribute the maximum portion which it is permitted to pay and satisfy under applicable law to the payment and
satisfaction of all Indemnified Liabilities incurred by the Indemnitees or any of them. 
 6.2. Additional
Provisions Regarding Indemnification. Each Indemnitor hereby agrees that it is the indemnitor of first resort (i.e., its obligations to any Indemnitee under this Agreement are primary and any obligation of any Purchaser (or any
Affiliate thereof other than the LLC and the Company) to provide advancement or indemnification for the same Indemnified Liabilities (including all interest, assessment and other charges paid or payable in connection with or in respect of such
Indemnified Liabilities) incurred by the Indemnitee are secondary), and if such Purchaser (or any Affiliate thereof other than the LLC and the Company) pays or causes to be paid, for any reason, any amounts otherwise indemnifiable hereunder or under
any other indemnification agreement (whether pursuant to a Contractual Obligation or Organizational Document) with any Indemnitee, then (i) such Purchaser (or such Affiliate, as the case may be) shall be fully subrogated to all rights of such
Indemnitee with respect to such payment and (ii) such Indemnitor shall reimburse such Purchaser (or such Affiliate) for any advancement or indemnification payments actually made. Each Indemnitor hereby unconditionally and irrevocably waives,
relinquishes and releases (and covenants and agrees not to exercise, and to cause each Affiliate of such Indemnitor not to exercise), any claims or rights that such Indemnitor may now have or hereafter acquire against any Indemnitee (in any
capacity) that arise from or relate to the existence, payment, performance or enforcement of such Indemnitor’s obligations under this Agreement or under any indemnification obligation (whether pursuant to any other Contractual Obligation, any
Organizational Document or otherwise), including any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of any Indemnitee against any Indemnitee, whether such claim,
remedy or right arises in equity or under a Contractual Obligation, statute, common law or otherwise, including any right to claim, take or receive from any Indemnitee, directly or indirectly, in cash or other property or by set-off or in any other
manner, any payment or security or other credit support on account of such claim, remedy or right. 

  
 - 14 -

 7. MISCELLANEOUS 

7.1. Notices. All notices, requests, demands, claims and other communications required or permitted to be
delivered, given or otherwise provided under this Agreement must be in writing and must be delivered, given or otherwise provided: (a) by hand (in which case, it will be effective upon delivery); (b) by facsimile (in which case, it will be
effective upon receipt of confirmation of good transmission); or (c) by overnight delivery by a nationally recognized courier service (in which case, it will be effective on the Business Day after being deposited with such courier service); in
each case, to the address (or facsimile number) indicated below: 
 If to the LLC or the Company, to it at: 

One Cranberry Hill 
 750 Marrett Road, Suite 401 
 Lexington, MA 02421 

Attention: Benjamin P. Procter 
 Facsimile: (781) 891-9712 
 with a copy to: 

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 
 One Financial Center 
 Boston, MA 02111 

Attention: Daniel H. Follansbee, Esq. 
 Facsimile: (617) 542-2241 
 If to a Purchaser, to the address set forth
opposite such Purchaser’s name on Annex II hereto. 
 Each of the parties to this Agreement may specify a different address or
facsimile number by giving notice in accordance with this Section 7.1 to each of the other parties hereto. 
 7.2. Succession and Assignment; No Third-Party Beneficiary. Subject to the immediately following sentence, this Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and permitted assigns, each of which such successors and permitted assigns shall be deemed to be a party hereto for all purposes hereof. No party may assign, delegate or otherwise transfer either this Agreement or any of
its rights, interests, or obligations hereunder without the prior written approval of the other parties; provided, however, that any of the Purchasers may (a) assign any or all of its rights and interests hereunder to one or more
of its Affiliates and (b) designate one or more of its Affiliates to perform its obligations hereunder, in each case, so long as such Purchaser is not relieved of any liability hereunder. Except as expressly provided herein, this Agreement is
for the sole benefit of the parties and their permitted successors and assignees and nothing herein expressed or implied will give or be construed to give any Person, other than the parties and such successors and assignees, any legal or equitable
rights hereunder. 

  
 - 15 -

 7.3. Amendments and Waivers. No amendment or waiver of any provision
of this Agreement will be valid and binding unless it is in writing and signed, in the case of an amendment, by each of the parties hereto or, in the case of a waiver, by the party against whom the waiver is to be effective. No waiver by any party
of any breach or violation or, default under or inaccuracy in any representation, warranty or covenant hereunder, whether intentional or not, will be deemed to extend to any prior or subsequent breach, violation, default of, or inaccuracy in, any
such representation, warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence. No delay or omission on the part of any party in exercising any right, power or remedy under this
Agreement will operate as a waiver thereof. 
 7.4. Signatures. For purposes of this Agreement and any
documents, instruments and certificates explicitly referred to herein, facsimile signatures or signatures delivered by e-mail via a “PDF” file or in similar format shall have the same effect as an original signature. 

7.5. Entire Agreement. This Agreement, together with the other Transaction Documents and any documents, instruments
and certificates explicitly referred to herein (including the Exhibits, Schedules and Annexes) or therein, constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes any and all prior
discussions, negotiations, proposals, undertakings, understandings and agreements, whether written or oral, with respect thereto. 
 7.6. Counterparts. This Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which together will constitute but one and the same instrument.
This Agreement will become effective when duly executed by each party hereto. 
 7.7. Severability. Any
term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction will not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. In the event that any provision hereof would, under applicable Legal Requirements, be invalid or unenforceable in any respect, each party hereto intends that such provision will
be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable Legal Requirements. 

7.8. Headings. The headings contained in this Agreement are for convenience purposes only and will not in any way
affect the meaning or interpretation hereof. 
 7.9. Governing Law. This Agreement, the rights of the
parties and all actions arising in whole or in part under or in connection herewith, will be governed by and construed in accordance with the domestic substantive laws of the State of New York, without giving effect to any choice or conflict of law
provision or rule that would cause the application of the laws of any other jurisdiction. 

  
 - 16 -

 7.10. Specific Performance. Each of the parties acknowledges and
agrees that the other parties would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached or violated. Accordingly, each of the parties agrees
that, without posting bond or other undertaking, the other parties shall be entitled to seek an injunction or injunctions to prevent breaches or violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms
and provisions hereof in any action instituted in any court of the United States or any state thereof having jurisdiction over the parties and the matter in addition to any other remedy to which it may be entitled, at law or in equity. 

7.11. Waiver of Jury Trial. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, THE PARTIES
HEREBY WAIVE, AND COVENANT THAT THEY WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY ACTION ARISING IN WHOLE OR IN PART UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE CONTEMPLATED
TRANSACTIONS, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND
BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE ITS RIGHT TO TRIAL BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS WILL INSTEAD BE TRIED IN A COURT OF COMPETENT
JURISDICTION BY A JUDGE SITTING WITHOUT A JURY. 
 7.12. Jurisdiction. Each of the parties hereto
irrevocably and unconditionally (a) submits for itself in any proceeding relating to this Agreement or the transactions contemplated hereby, or for the recognition and enforcement of any judgment in respect thereof (a
“Proceeding”), to the exclusive jurisdiction of the state courts of the State of New York located in New York County or the United States District Court for the Southern District of New York, and appellate courts having jurisdiction
of appeals from any of the foregoing, and agrees that all claims in respect of any such Proceeding shall be heard and determined in such New York State court or, to the extent permitted by law, in such federal court; (b) consents that any such
Proceeding may and shall be brought in such courts and waives any objection that it may now or thereafter have to the venue or jurisdiction of any such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and
agrees not to plead or claim the same; and (c) agrees that service of process in any such Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage prepaid,
to such party at its address as provided in Section 7.1. 
 [Remainder of the Page Intentionally Left Blank;
Signature Pages Follow.] 

  
 - 17 -

 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have caused
this Agreement to be duly executed and delivered as of the date first above written. 
  

											
	LLC:	 		 	TOOLROCK INVESTMENT, LLC
					
		 		 		 	By:	 	 /s/ Benjamin Procter

		 		 		 		 	Name:	 	Benjamin Procter
		 		 		 		 	Title:	 	Vice President
			
	COMPANY:	 		 	TOOLROCK HOLDING, INC.
					
		 		 		 	By:	 	 /s/ Dale B. Mikus

		 		 		 		 	Name:	 	Dale B. Mikus
		 		 		 		 	Title:	 	Vice President - Chief Financial Officer, Secretary and Treasurer

 [Signature Page to Securities Purchase Agreement] 

							
	PURCHASERS:	 		 	HHEP-LATROBE, L.P.
		 		 	By: Hicks-Latrobe GP, L.P., its General Partner
		 		 	By: Hicks-Latrobe L.L.C., its General Partner
				
		 		 	By:	 	/s/ Thomas O. Hicks
		 		 		 	Name: Thomas O. Hicks
		 		 		 	Title:
			
		 		 	WATERMILL-TOOLROCK PARTNERS II, L.P.
		 		 	By:	 	 Watermill-Toolrock Enterprises, LLC
its General Partner

				
		 		 	By:	 	/s/ Benjamin Procter
		 		 		 	Name: Benjamin Procter
		 		 		 	Title: Authorized Person

 [Signature Page
to Securities Purchase Agreement] 

 
					
	SANKATY CREDIT OPPORTUNITIES II, L.P.
		
	By:	 	 /s/ Michael Ewald

		 	Name:	 	Michael Ewald
		 	Title:	 	Managing Director
	
	PROSPECT HARBOR CREDIT PARTNERS, L.P.
		
	By:	 	 /s/ Michael Ewald

		 	Name:	 	Michael Ewald
		 	Title:	 	Managing Director
	
	RGIP, LLC
		
	By:	 	 /s/ Alfred O. Rose

		 	Name:	 	Alfred O. Rose
		 	Title:	 	Managing Member

 [Signature Page to
Securities Purchase Agreement] 

 Annex I 
 Allocation of Units and Purchase Price 
  

																	
	 Purchaser
	  	Series 4 Units	 	  	Series 5 Units	 	  	Series 6 Units	 	  	Aggregate
Purchase Price	 
	 HHEP-Latrobe, L.P.
	  	 	6,194,856	  	  	 	—  	  	  	 	—  	  	  	$	5,113,454.90	  
	 Watermill-Toolrock Partners II, L.P.
	  	 	—  	  	  	 	3,910,503	  	  	 	—  	  	  	$	3,227,868.52	  
	 Sankaty Credit Opportunities II, L.P.
	  	 	—  	  	  	 	—  	  	  	 	1,100,151	  	  	$	908,103.84	  
	 Prospect Harbor Credit Partners, L.P.
	  	 	—  	  	  	 	—  	  	  	 	816,382	  	  	$	673,870.79	  
	 RGIP, LLC
	  	 	—  	  	  	 	—  	  	  	 	19,359	  	  	$	15,979.61	  
	 TOTAL
	  	 	6,194,856	  	  	 	3,910,503	  	  	 	1,935,892	  	  	$	9,939,277.66	  

 Annex II 
 Addresses for Notices to Purchasers 
  

					
	 Purchaser:
	  	 Address:
	  	 Copy to:

			
	HHEP-Latrobe, L.P.	  	 c/o Hicks Holdings LLC
 100
Crescent Court, Suite 1200 Dallas, TX 75201
	  	 Weil, Gotshal & Manges LLP

200 Crescent Court, Suite 300
 Dallas, Texas
75201
 Attention: R. Scott Cohen, Esq.

Facsimile: (214)746 7777

			
	Watermill-Toolrock Partners II, L.P.	  	 c/o Watermill Ventures
 One
Cranberry Hill
 750 Marrett Road, Suite 401
 Lexington, MA 02421
 Attention: Benjamin P. Procter
	  	 Mintz, Levin, Cohn, Ferris,

Glovsky and Popeo, P.C.
 One Financial
Center
 Boston, MA 02111
 Attention:
Daniel H. Follansbee, Esq.
 Facsimile: (617) 542-2241

			
	Sankaty Credit Opportunities II, L.P.	  	 c/o Sankaty Advisors 111 Huntington Avenue
 Boston, MA 02199
 Attention: Michael Ewald
	  	 Ropes & Gray LLP
 One
International Place
 Boston, MA 02110

Attention: Alyson Allen, Esq.
 Facsimile: (617)
235-0345
  
 and

 
 Ropes & Gray LLP
 1211 Avenue of the Americas
 New York, NY 10036

Attention: Merrill A, Ulmer, Esq.
 Facsimile:
(646)728-1526

			
	Prospect Harbor Credit Partners, L.P.	  	 c/o Sankaty Advisors
 111
Huntington Avenue
 Boston, MA 02199

Attention: Michael Ewald
	  	 Ropes & Gray LLP

One International Place
 Boston, MA
02110
 Attention: Alyson Allen, Esq.

Facsimile: (617) 235-0345
  
 and
  
 Ropes & Gray
LLP
 1211 Avenue of the Americas
 New
York, NY 10036
 Attention: Merrill A. Ulmer, Esq.
 Facsimile: (646)728-1526

			
	RGIP, LLC	  	 Ropes & Gray LLP
 One
International Place
 Boston, MA 02110

Attention: Alyson Allen, Esq.
 Facsimile: (617)
235-0345
  
 and

 
 Ropes & Gray LLP
 1211 Avenue of the Americas
 New York, NY 10036

Attention: Merrill A. Ulmer, Esq.
 Facsimile:
(646)728-1526
	  	

 Exhibit A 
 Operating Agreement 

 Exhibit B 
 Registration Rights Agreement 

 Exhibit C 
 Certificate of Formation of the LLC 

 Exhibit D 
 Amended and Restated Certificate of Incorporation of the Company 

 Exhibit E 
 Bylaws of the Company 

 Schedule 3.2 
 Part A — Prior to the Closing 
 TOOLROCK INVESTMENT, LLC

  

																					
	 Holder
	  	Series 1
Units	 	  	Series 2
Units	 	  	Series 3
Units	 	  	Total
Units	 	  	Ownership	 
	 HHEP-Latrobe, L.P.
	  	 	16,000,000	  	  				  				  	 	16,000,000	  	  	 	51.45	% 
	 Watermill-Toolrock Partners, L.P.
	  				  	 	10,100,000	  	  				  	 	10,100,000	  	  	 	32.48	% 
	 Watermill-Toolrock Partners II, L.P.
	  				  				  				  	 	0	  	  	 	0.00	% 
	 Sankaty Credit Opportunities II, L.P.
	  				  				  	 	2,520,000	  	  	 	2,520,000	  	  	 	8.10	% 
	 Prospect Harbor Credit Partners L.P.
	  				  				  	 	1,870,000	  	  	 	1,870,000	  	  	 	6.01	% 
	 Sankaty High Yield Partners III, L.P.
	  				  				  	 	560,000	  	  	 	560,000	  	  	 	1.80	% 
	 RGIP, LLC
	  				  				  	 	50,000	  	  	 	50,000	  	  	 	0.16	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	 OUTSTANDING
	  	 	16,000,000	  	  	 	10,100,000	  	  	 	5,000,000	  	  	 	31,100,000	  	  	 	100.00	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

 TOOLROCK HOLDING, INC. 
  

																	
	 Holder
	  	Common
Stock	 	  	Series A
Preferred	 	  	Common
Equivalents	 	  	Fully-Diluted
Ownership	 
	 Toolrock Investment, LLC
	  				  	 	31,100,000	  	  	 	31,100,000	  	  	 	95.08	% 
	 Management Stockholders
	  				  				  				  			
	 Hans Sack
	  				  	 	200,000	  	  	 	200,000	  	  	 	0.61	% 
	 Scott A. Balliet
	  	 	99,000	  	  	 	15,000	  	  	 	114,000	  	  	 	0.35	% 
	 Daniel G. Hennessy
	  	 	191,000	  	  	 	30,000	  	  	 	221,000	  	  	 	0.68	% 
	 David A. Murray
	  	 	191,000	  	  	 	25,000	  	  	 	216,000	  	  	 	0.66	% 
	 Randall D. Strayer
	  	 	99,000	  	  	 	10,000	  	  	 	109,000	  	  	 	0.33	% 
	 Mark T. Weberding
	  	 	191,000	  	  	 	20,000	  	  	 	211,000	  	  	 	0.65	% 
	 Dale B Mikus
	  	 	191,000	  	  	 	60,000	  	  	 	251,000	  	  	 	0.77	% 
	 Dudley J. Merchant
	  	 	99,000	  	  	 	30,000	  	  	 	129,000	  	  	 	0.39	% 
	 Joseph Wakeling
	  	 	99,000	  	  				  	 	99,000	  	  	 	0.30	% 
	 Optionholders
	  				  				  				  			
	 Paul Fulchino
	  	 	30,000	  	  				  	 	30,000	  	  	 	0.09	% 
	 David Schlaff
	  	 	30,000	  	  				  	 	30,000	  	  	 	0.09	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	 OUTSTANDING
	  	 	1,220,000	  	  	 	31,490,000	  	  	 	32,710,000	  	  	 	100.00	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

 Part C of this Schedule 3.2 is incorporated herein by reference. 

 Schedule 3.2 
 Part B – Immediately Following the Closing 
 TOOLROCK INVESTMENT, LLC

  

																					
	 Holder
	  	Series 1
Units	 	  	Series 2
Units	 	  	Series 3
Units	 	  	Total
Units	 	  	Ownership	 
	 HHEP-Latrobe, L.P.
	  	 	16,000,000	  	  				  				  	 	16,000,000	  	  	 	51.45	% 
	 Watermill-Toolrock Partners, L.P.
	  				  	 	10,100,000	  	  				  	 	10,100,000	  	  	 	32.48	% 
	 Watermill-Toolrock Partners II, L.P.
	  				  				  				  	 	0	  	  	 	0.00	% 
	 Sankaty Credit Opportunities II, L.P.
	  				  				  	 	2,520,000	  	  	 	2,520,000	  	  	 	8.10	% 
	 Prospect Harbor Credit Partners L.P.
	  				  				  	 	1,870,000	  	  	 	1,870,000	  	  	 	6.01	% 
	 Sankaty High Yield Partners III, L.P.
	  				  				  	 	560,000	  	  	 	560,000	  	  	 	1.80	% 
	 RGIP, LLC
	  				  				  	 	50,000	  	  	 	50,000	  	  	 	0.16	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	 OUTSTANDING
	  	 	16,000,000	  	  	 	10,100,000	  	  	 	5,000,000	  	  	 	31,100,000	  	  	 	100.00	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
						
	 Holder
	  	Series 4
Units	 	  	Series 5
Units	 	  	Series 6
Units	 	  	Total
Units	 	  	Ownership	 
	 HHEP-Latrobe, L.P.
	  	 	6,194,856	  	  				  				  	 	6,194,856	  	  	 	51.45	% 
	 Watermill-Toolrock Partners, L.P.
	  				  				  				  				  	 	0.00	% 
	 Watermill-Toolrock Partners II, L.P.
	  				  	 	3,910,503	  	  				  	 	3,910,503	  	  	 	32.48	% 
	 Sankaty Credit Opportunities II, L.P.
	  				  				  	 	1,100,151	  	  	 	1,100,151	  	  	 	9.14	% 
	 Prospect Harbor Credit Partners L.P.
	  				  				  	 	816,382	  	  	 	816,382	  	  	 	6.78	% 
	 Sankaty High Yield Partners III, L.P.
	  				  				  				  				  	 	0.00	% 
	 RGIP, LLC
	  				  				  	 	19,359	  	  	 	19,359	  	  	 	0.16	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	 OUTSTANDING
	  	 	6,194,856	  	  	 	3,910,503	  	  	 	1,935,892	  	  	 	12,041,251	  	  	 	100.00	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

 TOOLROCK HOLDING, INC. 

 

																					
	 Holder
	  	Common
Stock	 	  	Series A
Preferred	 	  	Series B
Preferred	 	  	Common
Equivalents	 	  	Fully-Diluted
Ownership	 
	 Toolrock Investment, LLC
	  				  	 	31,100,000	  	  	 	12,041,251	  	  	 	43,141,251	  	  	 	89.03	% 
	 Management Stockholders
	  				  				  				  				  			
	 Hans Sack
	  				  	 	200,000	  	  				  	 	200,000	  	  	 	0.41	% 
	 Scott A. Balliet
	  	 	99,000	  	  	 	15,000	  	  	 	5,808	  	  	 	119,808	  	  	 	0.25	% 
	 Daniel G. Hennessy
	  	 	191,000	  	  	 	30,000	  	  	 	11,615	  	  	 	232,615	  	  	 	0.48	% 
	 David A. Murray
	  	 	191,000	  	  	 	25,000	  	  	 	9,679	  	  	 	225,679	  	  	 	0.47	% 
	 Randall D. Strayer
	  	 	99,000	  	  	 	10,000	  	  	 	3,872	  	  	 	112,872	  	  	 	0.23	% 
	 Mark T. Weberding
	  	 	191,000	  	  	 	20,000	  	  	 	7,744	  	  	 	218,744	  	  	 	0.45	% 
	 Dale B Mikus
	  	 	191,000	  	  	 	60,000	  	  	 	23,231	  	  	 	274,231	  	  	 	0.57	% 
	 Dudley J. Merchant
	  	 	99,000	  	  	 	30,000	  	  	 	11,615	  	  	 	140,615	  	  	 	0.29	% 
	 Joseph Wakeling
	  	 	99,000	  	  				  				  	 	99,000	  	  	 	0.20	% 
	 Optionholders
	  				  				  				  				  			
	 Paul Fulchino
	  	 	30,000	  	  				  				  	 	30,000	  	  	 	0.06	% 
	 David Schlaff
	  	 	30,000	  	  				  				  	 	30,000	  	  	 	0.06	% 
	 Noteholder Warrants
	  	 	135,556	  	  	 	3,498,889	  	  				  	 	3,634,445	  	  	 	7.50	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	 OUTSTANDING
	  	 	1,355,556	  	  	 	34,988,889	  	  	 	12,114,815	  	  	 	48,459,260	  	  	 	100.00	% 
		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

 Part C of this Schedule 3.2 is incorporated herein by reference. 
 The Company has reserved an additional 609,927 shares of its non-voting common stock, par value $0.01 per share, for issuance pursuant to stock options to be granted in the near term under the
Company’s 2006 Employee, Director and Consultant Stock Plan. 

 Schedule 3.2  

Part C – Equity Interests 
 Latrobe is a wholly owned subsidiary of the Company, has the authority to issue 100 shares of its common stock, $0.01 par value per share, and has issued all such authorized shares to the Company.

 OH&R, is wholly owned by Latrobe. OH&R has the authority to issue 100 shares of its common stock, $0.01 par value per share, and all
such authorized shares are issued to Latrobe. 
 Specialty Steel is wholly owned by Latrobe. Specialty Steel has the authority to issue 1,000
shares of its common stock, $1.00 par value per share, and all such shares are issued to Latrobe. 

 Schedule 3.4.3 

Certain Rights 

None, other than those contained in the Transaction Documents and the Warrants. 

 Schedule 3.5 
 Consents 
 None.

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