Document:

ex105formofrestrictedsto

EXHIBIT 10.5   RSU NON-US 1/2016     _____ __, 201_ Federal Signal Corporation  2015 Executive Incentive Compensation Plan Restricted Stock Unit Award Agreement    You have been selected to receive this grant of Restricted Stock Units (“Award”) pursuant to the Federal Signal Corporation 2015 Executive Incentive Compensation Plan (the “Plan”), as specified below:  Participant: Date of Grant: Number of Shares of Restricted Stock Units Granted: Vesting Date:   Restricted stock units shall vest at the time and in the amount set forth below:           ____ on _____ ___, 201__ [3-year cliff vesting]   This Award is subject to the terms and conditions prescribed in the Plan and in the Federal Signal Corporation Restricted Stock Unit Award Agreement No. 2016 attached hereto and incorporated herein.  Together, this Award and the attached award agreement shall be referred to throughout each as the “Award Agreement.”      IN WITNESS WHEREOF, the parties have caused this Award Agreement to be executed as of the Date of Grant.  PARTICIPANT  FEDERAL SIGNAL CORPORATION     By:  Print Name  Chief Executive Officer     Signature   Address:       Participant agrees to execute this Award Agreement and return one copy to Lana Noel at Federal Signal Corporation, 1415 W. 22nd Street, Suite 1100, Oak Brook, IL 60523 within 45 days of the above date or forfeit the restricted stock units award.  Note:  If there are any discrepancies in the name or address shown above, please make the appropriate corrections on this form. 

 

 RSU NON-US  6302311.4 This document constitutes part of the prospectus covering securities that have been registered under the Securities Act of 1933, as amended.  FEDERAL SIGNAL CORPORATION RESTRICTED STOCK UNIT AWARD AGREEMENT NO. 2016 This Award Agreement, which includes the attached cover page, effective as of the Date of Grant, represents the grant of Restricted Stock Units by the Company, to the Participant named in this Award Agreement, pursuant to the provisions of the Plan. The Company established the Plan pursuant to which, among other things, options, stock appreciation rights, restricted stock and stock units, stock bonus awards, dividend equivalents and/or performance compensation awards may be granted to eligible persons. The Plan and this Award Agreement provide a complete description of the terms and conditions governing the Restricted Stock Units. If there is any inconsistency between the terms of this Award Agreement and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this Award Agreement. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. The Board of Directors and the Committee have determined that the interests of the Company will be advanced by encouraging and enabling certain of its employees to own shares of the Stock, and that Participant is one of those employees. NOW, THEREFORE, in consideration of services rendered and the mutual covenants herein contained, the parties agree as follows: Section 1.  Certain Definitions As used in this Award Agreement, the following terms shall have the following meanings: A. “Affiliate” means with respect to any Person, any other Person (other than an individual) that controls, is controlled by, or is under common control with such Person. The term “control,” as used in this Award Agreement, means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. “Controlled” and “controlling” have meanings correlative to the foregoing. B. “Award” means the award provided for in Section 2. C. “Board of Directors” means the board of directors of the Company. D. “Code” means the Internal Revenue Code of 1986, as amended. E. “Committee” means the Compensation and Benefits Committee of the Board of Directors or a subcommittee or other committee appointed to administer the Plan in accordance with the Plan. F. “Company” means Federal Signal Corporation, a Delaware corporation. G. “Date of Grant” means the date set forth on this Award Agreement. H. “Disability” shall have the meaning ascribed to that term in the Company’s long-term disability plan applicable to Participant, or if no such plan exists, at the discretion of the Committee and as determined by the Committee. I. “Participant” means the individual shown as the recipient of the Restricted Stock Units, as set forth on this Award Agreement. J. “Person” means  a “person” as such term is used for purposes of 13(d) or 14(d), or any successor section thereto, of the Securities Exchange Act of 1934, as amended, and any successor thereto. K. “Restricted Stock Unit” means the obligation of the Company to transfer one share of Stock to Participant at the time provided in Section 6 of this Award Agreement, provided such Restricted Stock Unit is vested at such time. 

 

 RSU NON-US 1/2016 2  L. “Stock” means the common stock of the Company. M. “Vesting Date” means the date upon which the Restricted Stock Unit becomes vested as set forth in either Section 4 or 5 of this Award Agreement. Section 2.  Award Subject to the terms of this Award Agreement, the Company hereby grants to Participant the number of Restricted Stock Units set forth on this Award Agreement, effective as of the Date of Grant set forth on such instrument.  This grant of Restricted Stock Units shall not confer any right to Participant (or any other participant) to be granted Restricted Stock Units or other awards in the future under the Plan. Section 3.  Bookkeeping Account The Company shall record the number of Restricted Stock Units granted hereunder to a bookkeeping account for Participant (the “Restricted Stock Unit Account”). Participant’s Restricted Stock Unit Account shall be reduced by the number of Restricted Stock Units, if any, forfeited in accordance with Section 4 and by the number of shares of Stock transferred to Participant in accordance with Section 6 with respect to such Restricted Stock Units. Section 4.  Vesting Subject to the accelerated vesting provisions provided below, the Restricted Stock Units shall vest on the third anniversary of the Date of Grant, if Participant remains employed by the Company or its Affiliates through such date. If, while employed by the Company or its Affiliates, Participant dies or his or her employment terminates by reason of Disability before the third anniversary of the Date of Grant, all of the Restricted Stock Units granted pursuant to Section 2 shall become fully vested on the date of such death or Disability, as applicable. If, while Participant is employed by the Company or its Affiliate, a Change-in-Control occurs, all of the Restricted Stock Units granted pursuant to Section 2 shall become fully vested on the date of such Change-in- Control. Except as provided in Section 5 below, if Participant’s employment with the Company and its Affiliates is terminated for any other reason before the third anniversary of the Date of Grant, all Restricted Stock Units that are not vested at the time of such termination of employment (after first taking into account the accelerated vesting provisions of this Section 4 and Section 5 below) shall be forfeited. Section 5.  Acceleration of Vesting of Shares in the Event of Divestiture of Business Segment If the “Business Segment” (as that term is defined in this Section) in which Participant is primarily employed as of the “Divestiture Date” (as that term is defined in this Section) is the subject of a “Divestiture of a Business Segment” (as that term is defined in this Section), and such divestiture results in the termination of Participant’s employment with the Company and its Affiliates for any reason, the Restricted Stock Units shall become fully vested on the Divestiture Date. For purposes of this Award Agreement, the term “Business Segment” shall mean a business line which the Company treats as a separate operating segment under the segment reporting rules under U.S. generally accepted accounting principles, which currently includes the following: Safety and Security Systems Group and Environmental Solutions Group. Likewise, the term “Divestiture Date” shall mean the date that a transaction constituting a Divestiture of a Business Segment is finally consummated. For purposes of this Award Agreement, the term “Divestiture of a Business Segment” means the following: A. When used with a reference to the sale of stock or other securities of a Business Segment that is or becomes a separate corporation, limited liability company, partnership or other separate business entity, the sale, exchange, transfer, distribution or other disposition of the ownership, either beneficially or of record or both, by the Company or one of its Affiliates to “Nonaffiliated Persons” (as that term is defined in this Section) of 100% of either (i) the then-outstanding common stock (or the equivalent equity interests) of the Business Segment or (ii) the combined voting power of the then-outstanding voting securities of the Business Segment entitled to vote generally in the election of the board of directors or the equivalent governing body of the Business Segment;  

 

 RSU NON-US 1/2016 3  B. When used with reference to the merger or consolidation of a Business Segment that is or becomes a separate corporation, limited liability company, partnership or other separate business entity, any such transaction that results in Nonaffiliated Persons owning, either beneficially or of record or both, 100% of either (i) the then- outstanding common stock (or the equivalent equity interests) of the Business Segment or (ii) the combined voting power of the then-outstanding voting securities of the Business Segment entitled to vote generally in the election of the board of directors or the equivalent governing body of the Business Segment; or  C. When used with reference to the sale of the assets of the Business Segment, the sale, exchange, transfer, liquidation, distribution or other disposition of all or substantially all of the assets of the Business Segment necessary or required to operate the Business Segment in the manner that the Business Segment had been operated prior to the Divestiture Date.  For purposes of this Award Agreement, the term “Nonaffiliated Persons” shall mean any persons or business entities which do not control, or which are not controlled by or under common control with, the Company.  Section 6.  Distribution of Shares Subject to the provisions below, shares of Stock equal to the number of Restricted Stock Units credited to the Restricted Stock Unit Account of Participant shall become distributable on the Vesting Date.  Actual distribution of shares of Stock with respect to vested Restricted Stock Units will occur as soon as administratively feasible, but in no event more than 60 days after such shares become distributable as described in this Section 6.  Section 7.  Stockholder Rights Participant shall not have any of the rights of a stockholder of the Company with respect to Restricted Stock Units. No dividend equivalent rights are provided under this Award Agreement. Section 8.  Beneficiary Designation Participant may designate a beneficiary or beneficiaries (contingently, consecutively, or successively) to receive any benefits that may be payable under this Award Agreement in the event of Participant’s death and, from time to time, may change his or her designated beneficiary (a “Beneficiary”). A Beneficiary may be a trust. A Beneficiary designation shall be made in writing in a form prescribed by the Company and delivered to the Company while Participant is alive. In lieu of payment to Participant, a Beneficiary shall be paid shares of Stock under Section 6. Section 9.  Restrictions on Transfer  Restricted Stock Units awarded hereunder shall not be transferable by Participant. Except as may be required by the federal income tax withholding provisions of the Code or by the tax laws of any state or foreign sovereign, the interests of Participant and his or her Beneficiary(ies) under this Award Agreement are not subject to the claims of their respective creditors and may not be voluntarily or involuntarily sold, assigned, transferred, alienated, pledged, attached, encumbered or charged. Any attempt by Participant or a Beneficiary to sell, assign, transfer, alienate, pledge, attach, encumber, charge or otherwise dispose of any right to benefits payable hereunder shall be void. Section 10.  Adjustment in Certain Events If there is any change in the Stock by reason of stock dividends or other distribution (whether in the form of securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, split-off, combination, repurchase or exchange of Stock or other securities of the Company, or other similar corporate transaction or event, or changes in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange, the Committee may, in its sole discretion, make such adjustments to the number of Restricted Stock Units credited to Participant’s Restricted Stock Unit Account that it deems necessary or appropriate and as it may deem equitable in Participant’s rights. Section 11.  Tax Withholding  The Company shall not be obligated to transfer any shares of Stock until Participant pays to the Company or any of its Affiliates in cash, or any other form of property, including Stock, acceptable to the Company, the amount required to be withheld from the wages or other amounts owing to Participant with respect to such shares. 

 

 RSU NON-US 1/2016 4  Participant may elect to have such withholding satisfied by a reduction of the number of shares of Stock otherwise transferable under this Award Agreement at such time, such reduction to be calculated based on the closing market price of the Stock on the day Participant gives written notice of such election to the Company. Section 12.  Section 409A This Award Agreement shall be construed consistent with the intention that it be exempt from Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, “Section 409A”). However, notwithstanding any other provision of the Plan or this Award Agreement, if at any time the Committee determines that this Award (or any portion thereof) may be subject to Section 409A, the Committee shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan or this Award Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Committee determines are necessary or appropriate either for this Award to be exempt from the application of Section 409A or to comply with the requirements of Section 409A. Section 13.  Source of Payment Shares of Stock transferable to Participant, or Participant’s Beneficiary, under this Award Agreement may be either Treasury shares, authorized but unissued shares, or any combination of such stock. The Company shall have no duties to segregate or set aside any assets to secure Participant’s right to receive shares of Stock under this Award Agreement. Participant shall not have any rights with respect to transfer of shares of Stock under this Award Agreement other than the unsecured right to receive shares of Stock from the Company. Section 14.  Continuation of Employment This Award Agreement shall not confer upon Participant any right to continuation of employment by the Company or its Affiliates, nor shall this Award Agreement interfere in any way with the Company’s or its Affiliates’ right to terminate Participant’s employment at any time. Section 15.  English Language Participant acknowledges and agrees that it is Participant’s express intent that this Award Agreement, the Plan and all other documents, rules, procedures, forms, notices and legal proceedings entered into, given or instituted pursuant to the Award, be drawn up in English. If Participant has received this Award Agreement, the Plan or any other rules, procedures, forms or documents related to the Award translated into a language other than English, and if the meaning of the translated version is different than the English version, the English version will control. Section 15.  Entire Award; Amendment This Award Agreement and the Plan constitute the entire agreement between the parties with respect to the terms and supersede all prior written or oral negotiations, commitments, representations and agreements with respect thereto. The terms and conditions set forth in this Award Agreement may only be modified or amended in writing, signed by both parties. Section 16.  Severability In the event any one or more of the provisions of this Award Agreement shall be held invalid, illegal or unenforceable in any respect in any jurisdiction, such provision or provisions shall be automatically deemed amended, but only to the extent necessary to render such provision or provisions valid, legal and enforceable in such jurisdiction, and the validity, legality and enforceability of the remaining provisions of this Award Agreement shall not in any way be affected or impaired thereby. Section 17.  Miscellaneous A. This Award Agreement and the rights of Participant hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of the Plan. The Committee shall have the right to impose such restrictions on any Stock acquired pursuant to this Award Agreement, as it may deem advisable, including, without limitation, restrictions under applicable federal securities laws, under applicable federal and state tax law, under the 

 

 RSU NON-US 1/2016 5  requirements of any stock exchange or market upon which such Stock is then listed and/or traded, and under any blue sky or state securities laws applicable to such Stock. It is expressly understood that the Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Award Agreement, all of which shall be binding upon Participant. B. The Committee may terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the Plan may materially and adversely affect Participant’s rights under this Award Agreement, without the written consent of Participant. C. Participant agrees to take all steps necessary to comply with all applicable provisions of federal and state securities and tax laws in exercising his or her rights under this Award Agreement. D. This Award Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. E. This Award (including any proceeds, gains or other economic benefit actually or constructively received by Participant upon any receipt or exercise of any Award or upon the receipt or resale of any Stock underlying the Award) shall be subject to the provisions of any clawback policy currently or subsequently implemented by the Company to the extent set forth in such policy.  F. All obligations of the Company under the Plan and this Award Agreement, with respect to these Restricted Stock Units, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. G. To the extent not preempted by federal law, this Award Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to principles of conflict of law.    

 

 RSU NON-US 1/2016 6  FEDERAL SIGNAL CORPORATION RESTRICTED STOCK UNIT BENEFICIARY DESIGNATION  Participant:   Social Security No.:   Address:   Date of Birth:      Participant hereby designates the following individual(s) or entity(ies) as his or her beneficiary(ies) pursuant to the Federal Signal Corporation 2015 Executive Incentive Compensation Plan (Insert Name, Social Security Number, Relationship, Date of Birth and Address of Individuals and/or fully identify any trust beneficiary by the Name of the Trust, Date of Execution of the Trust, the Trustee’s Name, the address of the trust, and the employer identification number of the trust): Primary Beneficiary(ies)     Contingent Beneficiary(ies)       Participant hereby reserves the right to change this Beneficiary Designation, and any such change shall be effective when the Participant has executed a new or amended Beneficiary Designation form, and the receipt of such form has been acknowledged by the Company, all in such manner as specified by the Company from time to time, or on a future date specified by any such new or amended Beneficiary Designation form.  IN WITNESS WHEREAS, the parties have executed this Beneficiary Designation on the date designated below.  Date: _________________, ____    Signature of Participant  Received:   FEDERAL SIGNAL CORPORATION   Date: _________________, ____ By:Exhibit 10.1

		

			Exhibit 10.1

		

		

			 

		

		

			EXECUTION VERSION

		

		

			 

		

		
			Consent and Amendment
		

		
			to 
		

		
			Credit Agreement
		

		
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			This Consent and Amendment (herein, the “Consent and Amendment”) to Credit Agreement (hereinafter defined) is effective as of March 31, 2016 by and between THE FEMALE HEALTH COMPANY, a Wisconsin corporation (“Borrower”) and BMO HARRIS BANK N.A., a national banking association (the “Lender”).
		

		
			Recitals
		

		
			A.The Borrower and Lender heretofore executed and delivered that certain Credit Agreement dated as of December 29, 2015, as amended by that certain First Amendment and Waiver to Credit Agreement and Security Agreement dated as of January 4, 2016 (collectively, the “Credit Agreement”).  
		

		
			B.The Borrower desires to form the following entities in the state of Delaware which at all times shall be wholly-owned Subsidiaries of Borrower: (i) Badger Acquisition Sub, Inc., and (ii) Blue Hen Acquisition, Inc. (collectively, the “DE Subsidiaries”).
		

		
			C.Section 6.10 of the Credit Agreement requires the prior written consent of Lender for the formation of the DE Subsidiaries.
		

		
			D.The Borrower has requested that Lender consent to the formation of the DE Subsidiaries and Lender is willing to do so under the terms and conditions set forth in this Consent and Amendment.
		

		
			Now, Therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
		

			
	
			
				 Section 1.  
			

			
	
			
			Limited Consent to Formation and Incorporation of DE Subsidiaries; Amendment and Restatement of Schedule 5.2 to the Credit Agreement.

			
	
			
				 1.1
			The Borrower has informed the Lender that it intends to form and incorporate the DE Subsidiaries in the State of Delaware by the filing of a Certificate of Incorporation for each of the entities.  Borrower has requested that Lender consent to the formation and incorporation of the DE Subsidiaries as required under Section 6.10 of the Credit Agreement. Accordingly, Lender hereby consents to the formation and incorporation of the DE Subsidiaries, provided however, that Lender’s consent set forth herein shall constitute a limited consent and shall not be construed as a consent to any other provision or action relating to the DE Subsidiaries, including without limitation any merger of the DE Subsidiary in violation of the Credit Agreement, all and each of which remains subject to the restrictions of the Credit Agreement, including without limitation Section 7.4(d) thereof.

			
	
			
				 1.2
			Schedule 5.2 of the Credit Agreement is hereby amended and restated in its entirety by replacing and substituting therefor Schedule 5.2 (Amended and Restated) attached hereto and made a part hereof.

		
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				 Section 2.  
			

			
	
			
			Conditions Precedent; Conditions Subsequent  

			
	
			
				 2.1
			The effectiveness of this Consent and Amendment is subject to the satisfaction of all of the following conditions precedent:

			
	
			
				 (a)
			Lender shall have received this Consent and Amendment duly executed by the Borrower and Lender.

			
	
			
				 (b)
			Lender shall have received payment of the following fees, all of which shall be deemed fully earned upon receipt thereof: (a) Payment of outstanding attorneys’ fees and costs pursuant to Section 
		

		 

		

			

		

 

			9.10 of the Credit Agreement and incurred relating to the preparation, negotiation, execution and delivery of this Consent and Amendment and other post-closing matters. 

			
	
			
				 (c)
			Copies (executed or certificated, as may be applicable or appropriate) of all legal documents or proceedings taken in connection with the execution and delivery of this Consent and Amendment to the extent Lender or its counsel may reasonably request.

			
	
			
				 (d)
			Legal matters incident to the execution and delivery of this Consent and Amendment shall be satisfactory to the Lender and its counsel.

		
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				 2.2
			Conditions Subsequent.

			
	
			
				 (a)
			As soon as reasonably practicable, but in no event later than three (3) days after the incorporation of each of the DE Subsidiaries, Lender shall have received true and correct copies the Certificate of Incorporation certified by the Delaware Secretary of State, copies of the certificates of good standing from the Delaware Secretary of State, and the constituent documents for each of the DE Subsidiaries.

			
	
			
				 (b)
			As soon as reasonably practicable, but in no event later than three (3) days after both of the DE Subsidiaries have been incorporated, Borrower shall cause each of the DE Subsidiaries to execute a Guaranty Agreement and Security Agreement, each in the form attached hereto as Group Exhibit A, dated a date satisfactory to Lender, and Lender shall have received such Guaranty and Security Agreement duly executed by each of the DE Subsidiaries.

			
	
			
				 (c)
			Copies (executed or certificated, as may be applicable or appropriate) of all legal documents or proceedings taken in connection with the execution and delivery of the Guaranty and Security Agreement to the extent Lender or its counsel may reasonably request.

			
	
			
				 (d)
			Legal matters incident to the execution and delivery of this Guaranty and Security Agreement shall be satisfactory to the Lender and its counsel.

		
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				 Section 3.  
			

			
	
			
			Representations.

			
	
			
				 3.1
			In order to induce the Lender to execute and deliver this Consent and Amendment, Borrower (with respect to itself and its Subsidiaries) hereby represents to the Lender that as of the date hereof (a) the representations and warranties set forth in Section 5 of the Credit Agreement are and shall be and remain true and correct (except that the representations contained in Section 5.5 shall be deemed to refer to the most recent financial statements of the Parents and its Subsidiaries delivered to the Lender) and (b) the Borrower is in compliance with the terms and conditions of the Credit Agreement and no Default or Event of Default has occurred and is continuing under the Credit Agreement or shall result after giving effect to this Consent and Amendment.

			
	
			
				 3.2
			Borrower has full right and authority to enter into this Consent and Amendment and to perform all of its obligations hereunder.  This Consent and Amendment delivered by Borrower has been duly authorized, executed, and delivered and constitute valid and binding obligations of Borrower enforceable against it in accordance with their terms.

			
	
			
				 3.3
			Borrower hereby represents and warrants that the corporate certificate executed on behalf of Borrower, as required under and delivered in connection with the Credit Agreement, and all exhibits thereto, including Borrower’s bylaws, certificates of formation or articles of organization, and all other corporate governance documents shall be and remain true and correct as of the date hereof.

		 

		

			2

		

 

			
	
			
				 Section 4.  
			

			
	
			
			Miscellaneous.

			
	
			
				 4.1
			Borrower hereby acknowledges and agrees that the Liens created and provided for by the Collateral Documents continue to secure, among other things, the Obligations arising under the Credit Agreement, as amended hereby; and the Collateral Documents and the rights and remedies of the Lender thereunder, the obligations of Borrower thereunder, and the Liens created and provided for thereunder remain in full force and effect and shall not be affected, impaired or discharged hereby. Nothing herein contained shall in any manner affect or impair the priority of the liens and security interests created and provided for by the Collateral Documents as to the indebtedness which would be secured thereby prior to giving effect to this First Amendment.

			
	
			
				 4.2
			Except as specifically amended herein, the Credit Agreement shall continue in full force and effect in accordance with its original terms. Reference to this specific Consent and Amendment need not be made in the Credit Agreement, the Security Agreement, the Pledge Agreement, the Note, the other Loan Documents, or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to or with respect to the Credit Agreement, any reference in any of such items to the Credit Agreement being sufficient to refer to the Credit Agreement as amended hereby.

			
	
			
				 4.3
			The Borrower agrees to pay on demand all costs and expenses of or incurred by the Lender in connection with the negotiation, preparation, execution and delivery of this Consent and Amendment, including the fees and expenses of counsel for the Lender, to the extent not prior paid pursuant to Section 2.1 hereof.

			
	
			
				 4.4
			This Consent and Amendment may be executed in any number of counterparts, and by the different parties on different counterpart signature pages, all of which taken together shall constitute one and the same agreement.  Any of the parties hereto may execute this Consent and Amendment by signing any such counterpart and each of such counterparts shall for all purposes be deemed to be an original. Delivery of executed counterparts of this Consent and Amendment by telecopy shall be effective as an original. This Consent and Amendment shall be governed by the internal laws of the State of Illinois.

			
	
			
				 4.5
			For value received, including without limitation, the agreements of Lender in this Consent and Amendment, Borrower hereby releases the Lender, and each of its current and former shareholders, directors, officers, agents, employees, attorneys, consultants, and professional advisors (collectively, the “Released Parties”) of and from any and all demands, actions, causes of action, suits, controversies, acts and omissions, liabilities, and other claims of every kind or nature whatsoever, both in law and in equity, known or unknown, which Borrower has or ever had against the Released Parties, including, without limitation, those arising out of the existing financing arrangements between Borrower and Lender, and Borrower further acknowledges that, as of the date hereof, it does not have any counterclaim, set-off, or defense against the Released Parties, each of which Borrower hereby expressly waives.

			
	
			
				 4.6
			Without in any way limiting any provision herein, the Credit Agreement, or any other Loan Document, Borrower hereby indemnifies and hold harmless the Released Parties from, and shall pay to Lender, on behalf of and for the benefit of itself, or on behalf of and for the benefit of Released Parties, or any one of them, as the case may be, the amount of, or reimburse the Released Parties for, any Loss that the Released Parties or any of them may suffer, sustain, or become subject to, as a result of, in connection with, or in any way relating to the pledge of the lost original stock certificate representing Borrower’s ownership of equity interests in The Female Health Company Limited pledged to Midland States Bank, as successor in interest to Heartland Bank, any replacement stock certificate issued in lieu therefor, and the pledge of such replacement stock certificate as Collateral for Borrower’s Obligations.  For the purposes of this Section 4.5,  "Loss" shall mean any cost, loss, liability, obligation, claim, cause of action, damage, deficiency, expense (including costs of investigation and defense and reasonable attorneys' fees and expenses), fine, penalty, judgment, award, assessment, or diminution of value.

			
	
			
				 4.7
			The recitals and all exhibits and schedules hereto constitute an integral part of this Consent and Amendment, evidencing the intent of the parties in executing this Consent and Amendment and describing the circumstances surrounding its execution.  Accordingly, the recitals, exhibits and schedules are, by this express reference, made a part of the covenants hereof, and this Consent and Amendment shall be construed in the light thereof.  Except as otherwise provided in this Consent and Amendment, capitalized terms used herein without definition shall have the same meanings herein as such terms have in the Credit Agreement.

		 

		

			3

		

 

			
	
			
				 4.8
			This Consent and Amendment shall not be construed more strictly against the Lender than against the Borrower merely by virtue of the fact that the same has been prepared by counsel for the Lender, it being recognized that the Borrower and the Lender have contributed substantially and materially to the preparation of this Consent and Amendment, and the Borrower and Lender each acknowledges and waives any claim contesting the existence and the adequacy of the consideration given by the other in entering into this Consent and Amendment.  Each of the parties to this Consent and Amendment represents that it has been advised by its respective counsel of the legal and practical effect of this Consent and Amendment, and recognizes that it is executing and delivering this Consent and Amendment, intending thereby to be legally bound by the terms and provisions thereof, of its own free will, without promises or threats or the exertion of duress upon it.  The signatories hereto state that they have read and understand this Consent and Amendment, that they intend to be legally bound by it and that they expressly warrant and represent that they are duly authorized and empowered to execute it. 

		
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			[SIGNATURE PAGE TO FOLLOW]
		

		
			 
		

		

		

		 

		

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		This Consent and Amendment to Credit Agreement is entered into as of the date and year first above written.
		

		
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			“Lender”
		

		
			BMO HARRIS BANK N.A.
		

		
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			By: /s/   Jaime Freeman
		

		
			Name: Jaime Freeman
		

		
			Title:   Vice President
		

		
			 
		

		
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			“Borrower”
		

		
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			THE FEMALE HEALTH COMPANY
		

		
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			By: /s/   Michele Greco
		

		
			Name: Michele Greco
		

		
			Title:   EVP/CFO
		

		
			
		

		
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		Schedule 5.2 
		

		
			Subsidiaries
		

		
			(Amended and Restated as of April 1, 2016)
		

		
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						Name

					
					
						Jurisdiction of Organization

					
					
						Percentage Ownership

					
					
						Owner

				
	
					
						The Female Health Company Limited

					
					
						UK

					
					
						100%

					
					
						The Female Health Company

				
	
					
						Badger Acquisition Sub, Inc. 

					
					
						USA - Delaware

					
					
						100%

					
					
						The Female Health Company

				
	
					
						Blue Hen Acquisition, Inc.

					
					
						USA - Delaware

					
					
						100%

					
					
						The Female Health Company

				
	
					
						The Female Health Company (UK) Plc.

					
					
						UK

					
					
						100%

					
					
						The Female Health Company Limited

				
	
					
						The Female Health Company (M) SDN.BHD

					
					
						Malaysia

					
					
						100%

					
					
						The Female Health Company Limited

				

		
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			﻿
		

		
			﻿

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]