Document:

Letter Agreement

 Exhibit 10.1 
 December 27, 2006 
 Mr. Don L. Blankenship 
 24406 U.S. Route 119 
 Belfry, KY 41514 
 Dear Don: 
 This letter will summarize our agreement regarding your continued employment as Chairman, Chief Executive Officer and President of
Massey Energy Company, through December 31, 2007. Your current employment agreement will expire December 31, 2006. I am very pleased that you will continue your leadership of Massey and look forward to the productive year ahead.

 The specifics of your compensation package are included on Appendix A to this letter. In addition, you generally will continue to participate in the
employee benefit plans and arrangements (e.g., the Massey Energy Retirement Plan, the Coal Company Salary Deferral and Profit Sharing Plan, the welfare benefit programs and the nonqualified or supplemental benefit programs) and be entitled to
receive the perquisites provided to you in keeping with past practice, including, but not limited to, use of the Company’s airplanes. 
 If you have any
questions regarding the terms and conditions of your employment or the proposed compensation package included on Appendix A, please do not hesitate to call me. If the offer details are acceptable, please acknowledge by signing and dating one
copy of this letter and return it to me. 
 Sincerely, 
  

	
	 /s/ Bobby R. Inman

	Admiral Bobby R. Inman
	Chairman, Compensation Committee
	Massey Energy Company

 Acknowledged and agreed: 
  

							
	 /s/ Don L. Blankenship
	  		  	 12/27/06
	  	
	Don L. Blankenship	  		  	Date	  	

  

 APPENDIX A TO LETTER AGREEMENT 
 THIS APPENDIX A is part of a letter agreement dated December 27, 2006 by and between MASSEY ENERGY COMPANY, a Delaware corporation
(“Massey”), and DON L. BLANKENSHIP (the “Executive”), and relates to the Executive’s employment by Massey for calendar year 2007 subject to extension as set forth in Section 7 below. 
 SECTION 1. Compensation. 
 1.1.
Base Monthly Salary – $83,333. 
 1.2. Cash Incentive Bonus Award – A target cash incentive bonus award of $900,000
(the “Cash Incentive Bonus Award”) granted pursuant to the Massey Energy Company 2006 Stock and Incentive Compensation Plan, as such plan may be amended from time to time (the “2006 Plan”) based on the achievement of certain
performance objectives for fiscal year 2007 using qualifying performance criteria contained in the 2006 Plan. The target Cash Incentive Bonus Award shall be granted and the performance objectives set by the Compensation Committee of the Board of
Directors of Massey prior to the commencement of fiscal year 2007. There shall be a threshold level of performance for each performance objective below which no payment shall occur, a target level of performance, and a maximum level of performance,
the value of which can be up to two and a half times the target amount, above which no additional payment will occur. The achievement of the Cash Incentive Bonus Award for purposes of this Section 1.2 shall be confirmed by the Chief Financial
Officer and the Compensation Committee and may be adjusted at the sole discretion of the Compensation Committee in a manner consistent with the performance-based compensation rules of Section 162(m) of the Internal Revenue Code, as amended (the
“IRC”), and as permitted by the 2006 Plan. The Cash Incentive Bonus Award, if payable, shall be paid on or about February 29, 2008. 
 1.3. Long Term Incentive Awards – A $300,000 target cash incentive award granted pursuant to the 2006 Plan based on the achievement of a certain performance objective using qualifying performance criteria contained in the 2006
Plan (with a threshold level of performance below which no payment shall occur, a target level of performance, and a maximum level of performance, the value of which can be up to two times the target amount, above which no additional payment will
occur); 50,000 non-qualified stock options granted under the 2006 Plan with service-based vesting; 12,700 shares of restricted stock granted pursuant to the 2006 Plan with service-based vesting; and 7,300 restricted units granted pursuant to the
2006 Plan with service-based vesting. The Long Term Incentive Awards will be subject to all the terms, conditions, and performance and service-based vesting requirements of the November 12, 2006 grants made to participants in Massey’s 2007
Long Term Incentive Program with the following exception regarding the non-qualified stock options, such options must be exercised by the Executive in the first twenty days exercise is permissible for the Executive pursuant to Massey’s trading
window policy and applicable securities laws following their vesting, otherwise they will be automatically forfeited. 
  

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 1.4. Performance-Based Restricted Unit Awards – Two performance-based restricted unit awards
(each a “Performance Restricted Unit Award”), granted pursuant to the 2006 Plan, which shall vest based on the achievement of certain performance objectives for fiscal year 2007 using qualifying performance criteria contained in the 2006
Plan. The Performance Restricted Unit Awards shall be granted and the performance objectives set by the Compensation Committee prior to the commencement of fiscal year 2007. Each performance objective shall consist of two levels of targeted
performance, a threshold level (“Level 1”) and an enhanced level (“Level 2”), which, for purposes of this Section 1.4, if achieved, shall be confirmed by the Chief Financial Officer and the Compensation Committee and which
may be adjusted at the sole discretion of the Compensation Committee in a manner consistent with the performance-based compensation rules of Section 162(m) of the IRC, and as permitted by the 2006 Plan. The Level 1 Performance Restricted Unit
Award shall be for a total of 120,000 restricted units, comprised of a certain number of restricted units attributed to each performance objective, and the Level 2 Performance Restricted Unit Award shall be for a total of 70,000 restricted units,
comprised of a certain number of restricted units attributed to each performance objective. Both awards shall be granted on or before December 28, 2006. If Level 1 targeted performance for a given performance objective is confirmed as set forth
above, the Executive shall vest in that portion of the Level 1 Performance Restricted Unit Award that has been allocated to the achievement of the targeted performance for such performance objective and that portion of the Level 1 Performance
Restricted Unit Award that has vested shall be paid on or about February 29, 2008 based on the closing market price of Massey common stock on the New York Stock Exchange on the last trading day of 2007. If Level 1 targeted performance for a
given performance objective is not confirmed as set forth above that portion of the Level 1 Performance Restricted Unit Award that has been allocated to the achievement of the targeted performance for such performance objective shall be forfeited.
If Level 2 targeted performance for a given performance objective is confirmed as set forth above, the Executive shall vest in that portion of the Level 2 Performance Restricted Unit Award that has been allocated to the achievement of the targeted
performance for such performance objective and that portion of the Level 2 Performance Restricted Unit Award that has vested shall be paid on or about February 29, 2008 based on the closing market price of Massey common stock on the New York
Stock Exchange on the last trading day of 2007. If the targeted performance for a given performance objective is confirmed, as set forth above, to have fallen between Level 1 and Level 2 targeted performance for such performance objective, the
Executive shall vest in that portion of the Level 2 Performance Restricted Unit Award that is equal to the number of restricted units allocated to Level 2 targeted performance for such performance objective times a fraction, the numerator of which
is that amount of performance achieved over and above Level 1 targeted performance for such performance objective and the denominator of which is the difference between Level 2 targeted performance for such performance objective and Level 1 targeted
performance for such performance objective. For example, if the number of restricted units allocated to Level 2 targeted performance for a certain performance objective was 30,000 and only one-third of Level 2 targeted performance for such
performance objective was achieved, then the Executive would vest in 10,000 restricted units. That portion of the Level 2 Performance Restricted Unit Award that vests shall be paid on or about February 29, 2008 based on the closing market price
of Massey common stock on the New York Stock Exchange on the last trading day of 2007 and that portion of the Level 2 Performance Restricted Unit Award which did not vest shall be forfeited. In the event the Executive ceases to be employed on or
before December 30, 2007 and is entitled 

  

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to payments and benefits under the Change in Control Agreement (as defined in Section 1.10 below), the Level 1 Performance Restricted Unit Award shall
vest and become payable based on the closing market price of Massey common stock on the New York Stock Exchange on the date of termination. 
 1.5. Performance-Based Cash Incentive Awards – Two performance-based cash incentive awards (each a “Performance Cash Award”) granted pursuant to the 2006 Plan based on the achievement of certain performance objectives
for fiscal year 2007 using qualifying performance criteria contained in the 2006 Plan. The Performance Cash Awards shall be granted and the performance objectives set by the Compensation Committee prior to the commencement of fiscal year 2007. Each
performance objective shall consist of two levels of targeted performance, a further enhanced level (“Level 3”) and a superior level (“Level 4”), which, for purposes of this Section 1.5, if achieved, shall be confirmed by
the Chief Financial Officer and the Compensation Committee and which may be adjusted at the sole discretion of the Compensation Committee in a manner consistent with the performance-based compensation rules of Section 162(m) of the IRC, and as
permitted by the 2006 Plan. Each Performance Cash Award shall consist of a certain number of units attributed to each performance objective earnable, in whole or in part, by the Executive based on the achievement, in whole or in part, of the levels
of targeted performance set for each performance objective (the “Earned Units”). The Level 3 Performance Cash Award that may be earned by the Executive, assuming the satisfaction of Level 3 targeted performance for all the selected
performance objectives combined, shall consist of a total of 90,000 units. The Level 4 Performance Cash Award that may be earned by the Executive, assuming the satisfaction of Level 4 targeted performance for all the selected performance objectives
combined, shall consist of an additional 200,000 units. If Level 3 targeted performance for a given performance objective is confirmed, as set forth above, the Executive shall earn that portion of the Level 3 Performance Cash Award that has been
allocated to the achievement of the targeted performance for such performance objective. If the targeted performance for a given performance objective is confirmed, as set forth above, to have fallen between Level 2 and Level 3 targeted performance
for such performance objective, the Executive shall earn that portion of the Level 3 Performance Cash Award that is equal to the number of units allocated to Level 3 targeted performance for such performance objective times a fraction, the numerator
of which is that amount of performance achieved over and above Level 2 targeted performance for such performance objective and the denominator of which is the difference between Level 3 targeted performance for such performance objective and Level 2
targeted performance for such performance objective. If Level 4 targeted performance for a given performance objective is confirmed, as set forth above, the Executive shall earn that portion of the Level 4 Performance Cash Award that has been
allocated to the achievement of the targeted performance for such performance objective. If the targeted performance for a given performance objective is confirmed, as set forth above, to have fallen between Level 3 and Level 4 targeted performance
for such performance objective, the Executive shall earn that portion of the Level 4 Performance Cash Award that is equal to the number of units allocated to Level 4 targeted performance for such performance objective times a fraction, the numerator
of which is that amount of performance achieved over and above Level 3 targeted performance for such performance objective and the denominator of which is the difference between Level 4 targeted performance for such performance objective and Level 3
targeted performance for such performance objective. The portions of each Performance Cash Award that are earned by the 

  

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Executive shall be equal to the product obtained by multiplying (i) the Earned Units by (ii) the closing market price of Massey common stock on the
New York Stock Exchange on the last trading day of 2007. In the event the Executive’s employment is terminated by Massey or the Executive prior to the end of fiscal year 2007 then both Performance Cash Awards shall be forfeited, except for a
termination which could occur on December 31, 2007, in which case any and all earned portions of each Performance Cash Award shall be paid in accordance with this Section 1.5. Any and all earned portions of each Performance Cash Award
shall be paid on or about February 29, 2008. No additional Performance Cash Award will be granted for the achievement of performance above Level 4 for any selected performance objective. As provided in Section 11.1 of the 2006 Plan, the
aggregate maximum amount payable as Incentive Awards under the 2006 Plan (which in the case of this letter agreement consist of the Cash Incentive Bonus Award in Section 1.2 above, the cash incentive award in Section 1.3 above and the
Performance Cash Award in this Section 1.5) for any fiscal year shall not exceed $10,000,000. 
 1.6. Additional Stock Option
Award – 200,000 non-qualified stock options (the “Additional Stock Option Award”) granted under the 2006 Plan on December 28, 2006, with an exercise price based on the closing market price of Massey’s common stock on
such date, with service-based vesting on December 30, 2007. Once vested, the stock options must be exercised by the Executive in the first twenty days exercise is permissible for the Executive pursuant to Massey’s trading window policy and
applicable securities laws following their vesting, otherwise they will be automatically forfeited. 
 1.7. Retention Cash Bonus
Awards – If employed through December 30, 2007, $300,000, payable on or about February 29, 2008 (the “Retention Cash Bonus Award”). 
 1.8. Discretionary Award. Notwithstanding anything herein to the contrary, the Compensation Committee retains the discretion to cause the Company to pay or provide for additional or other compensation for
extraordinary performance regardless of the outcome on any performance-based pay contained in this letter agreement provided such extraordinary performance relates to performance which is not based on the performance criteria or goals contained
herein. 
 1.9. Life Insurance – Massey shall pay the premiums, if any, on the Executive’s $4,000,000 split dollar life
insurance policies payable in 2007. 
 1.10. Severance – The Executive entered into a certain Change in Control Agreement with
Massey dated December 21, 2005 (the “Change in Control Agreement”) which governs the Executives’ rights, duties and obligations in the event of the Executive’s cessation of employment with Massey (or any successor) covered
by the Change in Control Agreement. In the event of the Executive’s cessation of employment with Massey during the period commencing January 1, 2007 through December 30, 2007 for any reason other than for “Cause” (as
defined, and determined pursuant to the procedure, in the aforesaid Change in Control Agreement) under circumstances where such cessation of employment is not covered by the Change in Control Agreement, then Massey shall pay to the Executive, or if
the Executive is deceased to his Estate, 2.5 times the sum of the Executive’s Annual Base Salary of $1,000,000 plus the Executive’s target Cash Incentive Bonus Award of $900,000, unless the Executive elects 

  

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to terminate his employment voluntarily during the period commencing January 1, 2007 through December 30, 2007 other than for any reason which
would constitute “a Constructive Termination Associated With a Change in Control” (as defined, and determined pursuant to the procedure, in the aforesaid Change in Control Agreement, under circumstances where such Constructive Termination
is not covered by the Change in Control Agreement). Any such payment shall be made in six (6) equal monthly payments beginning the month after the Executive’s employment with Massey terminates. 
 1.11. Termination of Certain Rights on Cessation of Employment – In the event that the Executive’s employment with Massey terminates
during the period commencing January 1, 2007 through December 30, 2007 for any reason, all of the Executive’s rights with respect to unearned or unvested Performance Restricted Unit Awards, Performance Cash Awards, Additional Stock
Option Awards, and Retention Cash Bonus Awards, as set forth in Sections 1.4, 1.5, 1.6, and 1.7 above, shall terminate and all rights thereunder shall cease, except as otherwise is set forth in Section 1.4, and payment of life insurance
premiums as set forth in Section 1.9 above shall cease. 
 SECTION 2. Expenses. Subject to prevailing Massey policy or such
guidelines as may be established by the Board of Massey, Massey will reimburse the Executive for all reasonable expenses incurred by the Executive in carrying out his duties. 
 SECTION 3. Withholding of Taxes. Massey may withhold from any amounts payable under this letter agreement all federal, state, city or other taxes
as Massey is required to withhold pursuant to any applicable law, regulation or ruling. 
 SECTION 4. Validity. If any provision of
this letter agreement or the application of any provision hereof to any person or circumstances is held invalid, unenforceable or otherwise illegal, the remainder of this letter agreement and the application of such provision to any other person or
circumstances will not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal will be reformed to the extent (and only to the extent) necessary to make it enforceable, valid or legal. 
 SECTION 5. Governing Law. The validity, interpretation, construction and performance of this letter agreement will be governed by and construed in
accordance with the substantive laws of the State of Delaware, without giving effect to the principles of conflict of laws of such State. 
 SECTION 6. Nonqualified Deferred Compensation Omnibus Provision. Any compensation or benefits which are provided or available to the Executive pursuant to or in connection with any plan or program (including without limitation this
letter agreement) to which Massey or any of its subsidiaries or affiliates is a party and which is considered to be provided under a nonqualified deferred compensation plan or program subject to IRC Section 409A shall be provided and paid in a
manner, and at such time and in such form, as complies with the applicable requirements of IRC Section 409A to avoid the unfavorable tax consequences provided therein for non-compliance. The Executive hereby consents to the amendment of any
such plan or program as may be determined by Massey to be necessary or appropriate to evidence or further evidence required compliance with IRC Section 409A. In the 

  

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event the Executive is a specified employee described in IRC Section 409A(a)(2)(B)(i) whose nonqualified deferred compensation subject to IRC
Section 409A must be deferred until six (6) months after his separation from service, then payment of any amount or provision of any benefit under this letter agreement which is considered to be nonqualified deferred compensation subject
to IRC Section 409A shall be deferred until six (6) months after the Executive’s separation from service (the “409A Deferral Period”), absent an intervening payment event under IRC Section 409A such as his death. In the
event such payments are otherwise due to be made in installments or periodically during the 409A Deferral Period, the payments which would otherwise have been made in the 409A Deferral Period shall be accumulated and paid in a lump sum as soon as
the 409A Deferral Period ends, and the balance of the payments shall be made as otherwise scheduled. In the event, benefits are required to be deferred, any such benefit may be provided during the 409A Deferral Period at the Executive’s
expense, with the Executive having a right to reimbursement from Massey once the 409A Deferral Period ends, and the balance of the benefits shall be provided as otherwise scheduled. 
 SECTION 7. Extension. This letter agreement may be extended by mutual agreement between the Executive and Massey for an additional two years.

  

 - A-6 -Fifth Amendment to Loan Agreement

 EXHIBIT 10.16 
 FIFTH AMENDMENT TO LOAN AGREEMENT 
 This FIFTH AMENDMENT, dated as of December 27, 2006
(this “Agreement”), is made in connection with that certain Loan and Security Agreement, dated as of February 10, 2003 (as amended, restated, supplemented, renewed, extended, replaced or otherwise modified from time to time,
the “Loan Agreement”), by and among on the one hand, the lenders identified on the signature pages thereof (such lenders, together with their respective successors and assigns, are referred to hereinafter each individually as a
“Lender” and collectively as the “Lenders”), and Wells Fargo Foothill, Inc., a California corporation (f/k/a Foothill Capital Corporation), as the arranger and administrative agent for the Lenders (the
“Agent”), and, on the other hand, Elgin National Industries, Inc., a Delaware corporation (the “Parent”), and each of the Parent’s Subsidiaries identified on the signature pages thereof (such Subsidiaries,
together with the Parent, are referred to hereinafter each individually as a “Borrower”, and individually and collectively, jointly and severally, as the “Borrowers”). Capitalized terms used herein and not defined
herein shall have the meanings ascribed to such terms in the Loan Agreement. 
 W I T N E S
S E T H: 
 WHEREAS, the Borrowers, the Agent and the Lenders wish to amend certain of the terms set
forth in the Loan Agreement on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing
premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 Section 1. Amendments to Definitions. Section 1.1 of the Loan Agreement is hereby amended as follows: 
 (a) The definition of the term “Commitment” is hereby amended and restated in its entirety to read as follows: 
 “‘Commitment’ means, with respect to each Lender, its Revolver Commitment, its Initial Term Loan A Commitment, its Supplemental Term Loan A Commitment, its Term Loan B Commitment, its Term
Loan C Commitment or its Total Commitment, as the context requires, and, with respect to all Lenders, their Revolver Commitments, their Initial Term Loan A Commitments, their Supplemental Term Loan A Commitments, their Term Loan B Commitments,
their Term Loan C Commitments or their Total Commitments, as the context requires, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on Schedule C-1 or in the Assignment and
Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.” 

 (b) The definition of the term “Fifth Amendment” is hereby inserted, in appropriate
alphabetical order, to read as follows: 
 “‘Fifth Amendment’ means the Fifth Amendment to Loan Agreement, dated as of
December 27, 2006, among the Agent, the Lenders, the Parent and the Borrowers.” 
 (c) The definition of the term “Fifth
Amendment Effective Date” is hereby inserted, in appropriate alphabetical order, to read as follows: 
 “‘Fifth
Amendment Effective Date’ means the date on which all of the conditions precedent to the effectiveness of the Fifth Amendment have been fulfilled or waived.” 
 (d) The definition of the term “Initial Term Loan A” is hereby inserted, in appropriate alphabetical order, to read as follows:

 “‘Initial Term Loan A’ has the meaning specified therefor in Section 2.2(a).” 
 (e) The definition of the term “Initial Term Loan A Commitment” is hereby inserted, in appropriate alphabetical order, to read as
follows: 
 “‘Initial Term Loan A Commitment’ means, with respect to each Lender, its Initial Term Loan A
Commitment, and, with respect to all Lenders, their Initial Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on Schedule C-1 or in the Assignment and
Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.” 
 (f) The definition of the term “Maximum Revolver Amount” is hereby amended and restated in its entirety to read as follows: 
 “‘Maximum Revolver Amount’ means $30,000,000.” 
 (g) The definition of the term
“Permitted Liens” is hereby amended as follows: 
 (i) Clause (b) is amended by adding the following
phrase at the end thereof: 
 “and Liens set forth on Schedule P-2,” 
 (ii) Clause (c) is hereby amended and restated in its entirety to read as follows: 
 “(c) with respect to any Real Property that is not part of the Real Property Collateral or for which the Agent has elected not to obtain a policy for
title insurance, (i) title defects, title exceptions, easements, rights of way, and zoning restrictions 
  

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 that do not materially interfere with or impair the use or operation thereof, and (ii) Liens set
forth on Schedule P-2.” 
 (h) The definition of the term “Pro Rata Share” is hereby amended and restated in its
entirety to read as follows: 
 “‘Pro Rata Share’ means: 
 (a) with respect to a Lender’s obligation to make Advances and receive payments of principal, interest, fees, costs, and expenses with respect
thereto, (x) prior to the Revolver Commitment being terminated or reduced to zero, the percentage obtained by dividing (i) such Lender’s Revolver Commitment, by (ii) the aggregate Revolver Commitments of all Lenders, and
(y) from and after the time that the Revolver Commitment has been terminated or reduced to zero, the percentage obtained by dividing (i) the aggregate principal amount of such Lender’s Advances by (ii) the aggregate principal
amount of all Advances, 
 (b) with respect to a Lender’s obligation to participate in Letters of Credit, to reimburse the Issuing
Lender, and to receive payments of fees with respect thereto, (x) prior to the Revolver Commitment being terminated or reduced to zero, the percentage obtained by dividing (i) such Lender’s Revolver Commitment, by (ii) the
aggregate Revolver Commitments of all Lenders, and (y) from and after the time that the Revolver Commitment has been terminated or reduced to zero, the percentage obtained by dividing (i) the aggregate principal amount of such
Lender’s Advances by (ii) the aggregate principal amount of all Advances, 
 (c) with respect to a Lender’s obligation to make
the Initial Term Loan A and receive payments of interest, fees, and principal with respect thereto, (x) prior to the making of the Initial Term Loan A, the percentage obtained by dividing (i) such Lender’s Initial Term Loan A
Commitment, by (ii) the aggregate amount of all Lenders’ Initial Term Loan A Commitments, and (y) from and after the making of the Initial Term Loan A, the percentage obtained by dividing (i) the principal amount of such
Lender’s Initial Term Loan A by (ii) the principal amount of the Initial Term Loan A, 
 (d) with respect to a Lender’s
obligation to make the Supplemental Term Loan A and receive payments of interest, fees, and principal with respect thereto, (x) prior to the making of the Supplemental Term Loan A, the percentage obtained by dividing (i) such Lender’s
Supplemental Term Loan A Commitment, by (ii) the aggregate amount of all Lenders’ Supplemental Term Loan A Commitments, and (y) from and after the making of the Supplemental Term Loan A, the percentage obtained by dividing
(i) the principal amount of such Lender’s Supplemental Term Loan A by (ii) the principal amount of the Supplemental Term Loan A, 
 (e) with respect to a Lender’s obligation to make the Term Loan B and receive payments of interest, fees, and principal with respect thereto, (x) prior to the making of the Term Loan B, the percentage
obtained by dividing (i) such Lender’s Term Loan B 
  

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 Commitment, by (ii) the aggregate amount of all Lenders’ Term Loan B Commitments, and (y) from and after
the making of the Term Loan B, the percentage obtained by dividing (i) the principal amount of such Lender’s Term Loan B by (ii) the principal amount of the Term Loan B, 
 (f) with respect to a Lender’s obligation to make the Term Loan C and receive payments of interest, fees, and principal with respect thereto,
(x) prior to the making of the Term Loan C, the percentage obtained by dividing (i) such Lender’s Term Loan C Commitment, by (ii) the aggregate amount of all Lenders’ Term Loan C Commitments, and (y) from and
after the making of the Term Loan C, the percentage obtained by dividing (i) the principal amount of such Lender’s Term Loan C by (ii) the principal amount of the Term Loan C, 
 (g) with respect to all other matters as to a particular Lender (including the indemnification obligations arising under Section 16.7), the
percentage obtained by dividing (i) such Lender’s Revolver Commitment plus the unpaid principal amount of such Lender’s portion of the Term Loan A plus the unpaid principal amount of such Lender’s portion of the Term Loan B plus
the unpaid principal amount of such Lender’s portion of the Term Loan C, by (ii) the aggregate amount of Revolver Commitments of all Lenders plus the unpaid principal amount of the Term Loan A plus the unpaid principal amount of the
Term Loan B plus the unpaid principal amount of the Term Loan C; provided, however, that, if such Lender’s Revolver Commitment shall have been terminated or reduced to zero, such Lender’s Revolver Commitment shall be deemed to be the
aggregate unpaid principal amount of such Lender’s Advances and if all Revolver Commitments shall have been terminated or reduced to zero, the aggregate Revolver Commitments shall be deemed to be the principal amount of all outstanding
Advances.” 
 (i) The definition of the term “Required Lenders” is hereby amended by deleting the term “clause
(f)” therein and substituting in lieu thereof the term “clause (g)”. 
 (j) The definition of the term “Supplemental
Term Loan A” is hereby inserted, in appropriate alphabetical order, to read as follows: 
 “‘Supplemental Term Loan
A’ has the meaning specified therefor in Section 2.2(a).” 
 (k) The definition of the term “Supplemental
Term Loan A Commitment” is hereby inserted, in appropriate alphabetical order, to read as follows: 
 “‘Supplemental
Term Loan A Commitment’ means, with respect to each Lender, its Supplemental Term Loan A Commitment, and, with respect to all Lenders, their Second Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such
Lender’s name under the applicable heading on Schedule C-1 or in the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.” 
  

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 (l) The definition of the term “Term Loan A Amount” is hereby amended and restated in
its entirety to read as follows: 
 “‘Term Loan A Amount’ means (a) as of any date of determination prior to the
Fifth Amendment Effective Date, the lesser of (i) $7,500,000, and (ii) the sum of (x) 80% of the Appraised Value of Eligible Equipment and (y) 60% of the Appraised Value of Eligible Real Property Collateral, less
(1) the amount, if any, of reserves established by Agent, for potential environmental remediation costs relating to such Eligible Real Property Collateral and (2) the amount of all principal payments of the Term Loan A as of such date and
(b) on or after the Fifth Amendment Effective Date, $10,000,000.” 
 Section 2. Revolver Advances.
Section 2.1(c)(v) of the Loan Agreement is hereby amended by deleting the term “60%” therein and substituting in lieu thereof the term “65%”. 
 Section 3. Term Loan A. Section 2.2(a) of the Loan Agreement is hereby amended and restated in its entirety to read as
follows: 
 “(a) Subject to the terms and conditions of this Agreement, on the Closing Date, each Lender with an Initial Term Loan A
Commitment on the Closing Date made a term loan (collectively, the “Initial Term Loan A”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of $7,500,000, $3,925,000 of which remains outstanding on the Fifth
Amendment Effective Date. Subject to the terms and conditions of this Agreement, on the Fifth Amendment Effective Date, each Lender with a Supplemental Term Loan A Commitment agrees (severally, not jointly or jointly and severally) to make a term
loan (collectively, the “Supplemental Term Loan A” and together with the Initial Term Loan A, the “Term Loan A”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of $6,075,000. Each of the
Initial Term Loan A and the Supplemental Term Loan A shall be considered part of the Term Loan A for all purposes of the Loan Agreement and all Loan Documents and any reference to the “Term Loan A” in the Loan Agreement or in any other
Loan Document shall be deemed to include both the Initial Term Loan A and the Supplemental Term Loan A made by such Lenders to Borrowers. The Term Loan A shall be repaid in consecutive monthly installments, each in a principal amount equal to
(i) for the period from the Closing Date through the second anniversary of the Closing Date, $62,500, (ii) for the period from the second anniversary of the Closing Date up to, but not including the Fifth Amendment Effective Date,
$100,000, and (iii) for the period from the Fifth Amendment Effective Date and thereafter, $166,667, in each case, on the first day of each month, commencing on May 1, 2003; provided that the last such installment shall be in the
amount necessary to repay in full the unpaid principal amount of the Term Loan A. Subject to Section 3.6, Borrowers may at any time prepay all or a portion of the Term Loan A. Each such prepayment of the Term Loan A shall be applied
against the remaining installments of principal thereof in the inverse order of maturity. The outstanding unpaid principal balance and all accrued and unpaid interest under the Term Loan A shall be due and 
  

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 payable on the date of termination of this Agreement, whether by its terms, by prepayment, or by acceleration. All
amounts outstanding under the Term Loan A shall constitute Obligations. Any principal amount of the Term Loan A repaid or prepaid may not be reborrowed.” 
 Section 4. Schedules. The supplemental schedules attached as Annex 1 to this Agreement shall be deemed incorporated by reference and shall supplement or amend and restate (as set forth in
each Supplemental Schedule) the applicable Schedules to the Loan Agreement effective as of the Amendment Effective Date (as defined below). 
 Section 5. Waiver. Subject to the conditions set forth in Section 7 of this Agreement, the Agent and the Required Lenders under the Loan Agreement as of the date hereof hereby waive any Event of Default that
would otherwise arise under Section 8.2 of the Loan Agreement from any noncompliance by Borrowers with (a) Section 6.9 of the Loan Agreement by reason of the location of Inventory and Equipment at any of the locations
set forth on supplemental Schedule 5.5 to this Agreement, (b) Section 6.18 of the Loan Agreement by reason of the formation of Mineral & Industrial Products Corporation prior to the Amendment Effective Date, and
(c) Section 7.18 of the Loan Agreement by reason of the re-location of the chief executive offices of certain of the Borrowers to the locations set forth on supplemental Schedule 5.7(b) to this Agreement. 
 Section 6. Joinder of Additional Borrower. 
 (a) Joinder to Loan Agreement. By its execution of this Agreement, Mineral and Industrial Products Corporation, a Delaware corporation (the “Additional Borrower”), hereby (i) confirms
that, after giving effect to the supplement to the schedules to the Loan Agreement provided for in Section 4, each representation and warranty contained in Article 5 of the Loan Agreement is true and correct as it may relate to
the Additional Borrower as of the Amendment Effective Date, (ii) grants to the Agent, for the benefit of the Lender Group, a continuing security interest in all of its right, title, and interest in all currently existing and hereafter acquired
or arising Personal Property Collateral in order to secure prompt repayment of any and all of the Obligations in accordance with the terms and conditions of the Loan Documents and in order to secure prompt performance by the Additional Borrower of
its covenants and duties under the Loan Documents, which Lien in and to the Personal Property Collateral shall attach to all Personal Property Collateral without further action on the part of the Agent or the Additional Borrower, (iii) agrees
that from and after the Amendment Effective Date it shall be a Borrower under the Loan Agreement as if it were a signatory thereto and shall be bound by all of the provisions thereof, and (iv) agrees that it shall comply with and be subject to
all the terms, conditions, covenants, agreements and obligations set forth therein. The Additional Borrower hereby agrees that each reference to “Borrower”, “Borrowers”, “Loan Party” or “Loan Parties” in the
Loan Agreement and the other Loan Documents shall include the Additional Borrower. The Additional Borrower acknowledges that it has received a copy of the Loan Agreement and the other Loan Documents and that it has read and understands the terms
thereof. 
  

 - 6 - 

 (b) Joinder to Pledge Agreement. By its execution of this Agreement, the Additional Borrower
hereby (i) agrees that from and after the Amendment Effective Date it shall be a Pledgor under the Pledge Agreement as if it were a signatory thereto, (ii) pledges and assigns to the Agent, and grants to the Agent for the benefit of the
Lender Group, a continuing security interest in all Pledged Collateral (as defined in the Pledge Agreement) of the Additional Borrower, whether now owned or hereafter acquired and howsoever its interest therein may arise or appear, and
(iii) agrees that it shall comply with and be subject to all the terms, conditions, covenants, agreements and obligations set forth therein. The Additional Borrower hereby agrees that each reference to a “Pledgor” or the
“Pledgors” in the Pledge Agreement shall include the Additional Borrower. The Additional Borrower acknowledges that it has received a copy of the Pledge Agreement and that it has read and understands the terms thereof. 
 (c) Joinder to Intellectual Property Security Agreements. By its execution of this Agreement, the Additional Borrower hereby (i) agrees that
from and after the Amendment Effective Date it shall be a Debtor under each of the Copyright Security Agreement, the Patent Security Agreement and the Trademark Security Agreement as if it were a signatory thereto, (ii) grants, assigns,
transfers and conveys to the Agent, for the benefit of the Lender Group, a continuing, first priority security interest in all of its right, title and interest in, to and under the Copyright Collateral, the Patent Collateral and the Trademark
Collateral, as applicable, of the Additional Borrower, whether now owned or hereafter acquired and howsoever its interest therein may arise or appear, and (iii) agrees that it shall comply with and be subject to all the terms, conditions,
covenants, agreements and obligations set forth therein. The Additional Borrower hereby agrees that each reference to a “Debtor” or the “Debtors” in each such agreement shall include the Additional Borrower. The Additional
Borrower acknowledges that it has received a copy of each such agreement and that it has read and understands the terms thereof. 
 (d)
Joinder to Fee Letter. By its execution of this Agreement, the Additional Borrower hereby agrees that from and after the Amendment Effective Date (i) it shall be a Borrower under the Fee Letter as if it were a signatory thereto and shall
be bound by all of the provisions thereof, and (ii) it shall comply with and be subject to all the terms, conditions, covenants, agreements and obligations set forth therein. The Additional Borrower hereby agrees that each reference to a
“Borrower” or “Borrowers” in the Fee Letter shall include the Additional Borrower. The Additional Borrower acknowledges that it has received a copy of the Fee Letter and that it has read and understands the terms thereof.

 (e) Joinder to Intercompany Subordination Agreement. By its execution of this Agreement, the Additional Borrower hereby agrees that
from and after the Amendment Effective Date (i) it shall be an Obligor under the Intercompany Subordination Agreement as if it were a signatory thereto, and (ii) it shall comply with and be subject to all the terms, conditions, covenants,
agreements and obligations set forth therein. The Additional Borrower hereby agrees that each reference to an “Obligor” or the “Obligors” in the Intercompany Subordination Agreement shall include the Additional Borrower. The
Additional Borrower acknowledges that it has received a copy of the Intercompany Subordination Agreement and that it has read and understands the terms thereof. 
  

 - 7 - 

 (f) Joinder to Contribution Agreement. By its execution of this Agreement, the Additional Borrower
hereby agrees that from and after the Amendment Effective Date (i) it shall be an Obligor under the Contribution Agreement as if it were a signatory thereto, and (ii) it shall comply with and be subject to all the terms, conditions,
covenants, agreements and obligations set forth therein. The Additional Borrower hereby agrees that each reference to an “Obligor” or the “Obligors” in the Contribution Agreement shall include the Additional Borrower. The
Additional Borrower acknowledges that it has received a copy of the Contribution Agreement and that it has read and understands the terms thereof. 
 Section 7. Conditions to Effectiveness. The effectiveness of this Agreement shall be conditioned upon the satisfaction of the following conditions precedent (the date on which all such conditions are fulfilled or waived
by the Agent and the Lenders are hereafter referred to as the “Amendment Effective Date”): 
 (a) Representations and
Warranties. The representations and warranties contained in Section 5 of the Loan Agreement and in each other Loan Document and certificate or other writing delivered to the Agent or any Lender pursuant thereto on or prior to the
Amendment Effective Date shall be true and correct on and as of the Amendment Effective Date as though made on and as of such date, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which
case such representations and warranties shall be true and correct on and as of such date). 
 (b) No Event of Default. No Default or
Event of Default shall have occurred and be continuing on the Amendment Effective Date. 
 (c) Fees. The Agent shall have received an
amendment fee in the amount of $75,000, for the pro rata benefit of the Lenders with a Supplemental Term Loan A Commitment, in immediately available funds, which shall be nonrefundable and deemed fully earned on the Amendment Effective Date.

 (d) Delivery of Documents. The Agent shall have received on or before the Amendment Effective Date the following, each in form and
substance satisfactory to the Agent and the Lenders and unless indicated otherwise, dated the Amendment Effective Date: 
 (i) counterparts of this Agreement, duly executed by the Loan Parties, the Agent and the Lenders; 
 (ii) a Pledge
Amendment duly executed by the Parent, together with (A) certificates evidencing 100% of the issued and outstanding Stock of the Additional Borrower owned by the Parent and (B) undated stock powers executed in blank; 
  

 - 8 - 

 (iii) evidence of the filing of one or more UCC-1 financing statements in such office or
offices as may be necessary or, in the opinion of the Agent, desirable to perfect the security interests purported to be granted by the Additional Borrower to the Agent by this Agreement; 
 (iv) a certificate from the Secretary of the Additional Borrower certifying as to true, correct and complete copies of (A) the
Governing Documents of the Additional Borrower, as amended, modified, or supplemented to the Amendment Effective Date and (B) a certificate of status dated as of a recent date of the appropriate official(s) of the jurisdiction of incorporation
of the Additional Borrower; 
 (v) a certificate from the Secretary of each Loan Party attesting to (A) the resolutions
of such Loan Party’s Board of Directors authorizing (1) the borrowings contemplated by this Agreement, and the Loan Agreement as amended hereby, by each Borrower and the transactions contemplated by this Agreement, and the Loan Agreements
as amended hereby, (2) the execution, delivery and performance by each such Person of this Agreement and the other Loan Documents to be executed and delivered pursuant hereto to which such Person is a party, and the performance of this
Agreement, and the Loan Agreement as amended hereby, and (3) authorizing specific officers of such Loan Party to execute the same; 
 (vi) a certificate of an authorized officer of each Loan Party, certifying the names and true signatures of the representatives of such Person authorized to sign this Agreement and the other Loan Documents to be
executed and delivered by such Person in connection herewith; 
 (vii) a certificate of an authorized officer of each Loan
Party (other than the Additional Borrower), certifying that the charter of each such Person has not been amended or otherwise modified since the Closing Date and that the copy thereof previously delivered to Agent is true, correct and complete;

 (viii) a certificate of an authorized officer of each Loan Party (other than the Additional Borrower), certifying that the
by-laws or operating agreement, as applicable, of each such Person have not been amended or otherwise modified since the Closing Date and that the copy thereof previously delivered to Agent is true, correct and complete; 
 (ix) an opinion of Mayer, Brown, Rowe & Maw, counsel to the Loan Parties, as to such matters as Agent may reasonably request;

 (x) a certificate of an authorized officer of the Parent, certifying as to the matters set forth in subsection
(a) of this Section 7; 
  

 - 9 - 

 (xi) a disbursement letter executed and delivered by each of the parties thereto
regarding the extensions of credit to be made on the Fifth Amendment Effective Date; and 
 (xii) such other agreements,
instruments, approvals, opinions and other documents as Agent may reasonably request from the Borrowers. 
 (e) Proceedings. All
proceedings in connection with the transactions contemplated by this Agreement, and all documents incidental thereto, shall be satisfactory to the Agent, and the Agent shall have received from the Loan Parties all such information and such
counterpart originals or certified copies of documents, and such other agreements, instruments, approvals, opinions and other documents, as the Agent may reasonably request. 
 (f) Lender Group Expenses. Borrowers shall have paid all Lender Group expenses incurred in connection with the transactions evidenced by this
Agreement. 
 Section 8. Conditions Subsequent to Effectiveness. As an accommodation to Borrowers, the Required Lenders
have agreed to execute this Agreement notwithstanding the failure by Borrowers to satisfy the conditions set forth below on or before the Amendment Effective Date. In consideration of such accommodation, Borrowers agree that, in addition to all
other terms, conditions and provisions set forth in this Agreement, including those conditions set forth in Section 7, Borrowers shall satisfy each of the conditions subsequent set forth below on or before the date applicable thereto (it
being understood that (x) the failure by Borrowers to perform or cause to be performed any such condition subsequent on or before the date applicable thereto shall constitute an Event of Default and (y) to the extent that the existence of
any such condition subsequent would otherwise cause any representation, warranty or covenant in this Agreement or any other Loan Document to be breached, the Required Lenders hereby waive such breach for the period from the Amendment Effective Date
until the date on which such condition subsequent is required to be fulfilled pursuant to this Section 8): 
 (a) within
30 days of the Amendment Effective Date, Agent shall have received a Pledge Amendment (as defined in the Pledge Agreement) together with certificates representing all of the shares of Stock of each of the following direct and indirect
Subsidiaries of Parent not already delivered to Agent under the Pledge Agreement, together with Stock powers with respect thereto endorsed in blank: 
 (i) Elgin Polska Sp. z o.o.; 
 (ii) Roberts & Schaefer Polska Sp. z o.o.;

 (iii) Separator-R&S Sp. z o.o.; and 
 (iv) PT Roberts Schaefer Soros Indonesia; and 
  

 - 10 - 

 (b) Borrowers shall use commercially reasonable efforts to deliver to Agent, within 30 days of the
Amendment Effective Date, a Collateral Access Agreement executed by the lessor of the Leased Real Property located at 222 S. Riverside Plaza, Chicago, IL 60606 (it being understood and agreed that if Borrowers fail to provide such Collateral Access
Agreement within such 30 day period, Agent may institute a reserve equal to the rental costs under the applicable lease with respect to such location for a 3 month period). 
 Section 9. Representations and Warranties. Each Borrower hereby represents and warrants to the Agent and the Lenders as follows:

 (a) The representations and warranties herein, in Section 5 of the Loan Agreement and in each other Loan Document and
certificate or other writing delivered to the Agent or any Lender pursuant thereto on or prior to the Amendment Effective Date are true and correct on and as of the Amendment Effective Date as though made on and as of such date, except to the extent
that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties are true and correct on and as of such date). 
 (b) No Default or Event of Default has occurred and is continuing or would result from this Agreement becoming effective in accordance with its terms.

 (c) Each Loan Party (i) is duly organized and existing and in good standing under the laws of the jurisdiction of its organization,
(ii) has all requisite power and authority to execute, deliver and perform this Agreement and to perform the Loan Documents, as amended hereby, and (iii) is duly qualified to do business in each jurisdiction in which the character of the
properties owned or leased by it or in which the transaction of its business makes such qualification necessary except where the failure to be so qualified could not be expected to have a Material Adverse Change. 
 (d) The execution, delivery and performance by the Loan Parties of this Agreement and the performance by the Loan Parties of the Loan Documents, as
amended by this Agreement, (i) have been duly authorized by all necessary action, and (ii) do not and will not contravene the Loan Parties’ Governing Documents. 
 (e) The execution, delivery, and performance by the Loan Parties of this Agreement and the performance of the Loan Documents, as amended by this
Agreement, do not and will not (i) violate any provision of federal, state, or local law or regulation applicable to any Loan Party, or any order, judgment, or decree of any court or other Governmental Authority binding on any Loan Party,
(ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any material contractual obligation of any Loan Party, (iii) result in or require the creation or imposition of any Lien of
any nature whatsoever upon any properties or assets of any Loan Party, other than Permitted Liens, or (iv) require any approval of any Loan Party’s interestholders or any approval or consent of any Person under any material contractual
obligation of any Loan Party, other than consents or approvals that have been obtained and that are still in force and effect. 
  

 - 11 - 

 (f) The execution, delivery, and performance by the Loan Parties of this Agreement and the performance of
the Loan Documents, as amended by this Agreement, do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority or other Person. 
 (g) This Agreement, when executed and delivered by the Loan Parties, and the Loan Documents, as amended hereby, are and will be the legally valid and
binding obligations of the Loan Parties, enforceable against the Loan Parties in accordance with their respective terms. 
 Section
10. Ratification; Reservation of Rights. Except as otherwise expressly provided herein, each Borrower confirms and agrees that the Loan Agreement and each other Loan Document and certificate or other writing delivered to the Agent
or any Lender pursuant thereto is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and after the Amendment Effective Date, (a) all references in the Loan Agreement to
“this Agreement”, “hereto”, “hereof”, “hereunder” or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended by this Agreement, and (b) all references in the other
Loan Documents to the “Loan Agreement”, “thereto”, “thereof”, “thereunder” or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended by this Agreement. This Agreement
does not and shall not affect any Obligations of the Loan Parties under the Loan Agreement or any other Loan Document or certificate or other writing delivered to the Agent or any Lender pursuant thereto, other than as expressly provided herein,
including, without limitation, the Loan Parties’ obligations to repay the Obligations in accordance with the terms of the Loan Agreement and the other Loan Documents, all of which obligations shall remain in full force and effect. Except as
expressly provided herein, the execution, delivery and effectiveness of this Agreement shall not operate as a waiver of any right, power or remedy of the Agent or any Lender under the Loan Agreement or any other Loan Document, nor constitute a
waiver of any provision of the Loan Agreement or any other Loan Document. 
 Section 11. Headings. Section headings
herein are included for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. 
 Section
12. Successors and Assigns. This Agreement shall (a) be binding on the parties hereto and their respective successors and assigns, and (b) inure the benefit of the parties hereto and their respective successors and
assigns. 
 Section 13. Execution in Counterparts. This Agreement may be executed in several counterparts and by each
party on a separate counterpart each of which when executed shall be an original and all of which together shall constitute one instrument. Signatures to this Agreement may be delivered by telecopier or electronic transmission. 
  

 - 12 - 

 Section 14. Costs and Expenses. Each Loan Party agrees to pay on demand all fees,
costs and expenses of the Agent in connection with the preparation, execution and delivery of this Agreement and any other related agreements, instruments and documents. 
 Section 15. Governing Law. This Agreement shall be governed by, and construed and interpreted in accordance with, the law of the State of New York. 
 Section 16. Agreement as Loan Document. Each Loan Party hereby acknowledges and agrees that this Agreement constitutes a “Loan
Document” under the Loan Agreement. Accordingly, it shall be an Event of Default under the Loan Agreement if any representation or warranty made by any Loan Party under or in connection with this Agreement shall have been untrue, false or
misleading in any material respect when made or any Loan Party shall fail to perform any covenant or agreement set forth herein. 
 Section 17. No Waiver. Except as expressly provided herein, this Agreement is not a waiver of, or consent to, any Default or Event of Default now existing or hereafter arising under the Loan Agreement or any other Loan
Document and the Agent and the Lenders expressly reserve all of their rights and remedies under the Loan Agreement and the other Loan Documents, under applicable law or otherwise. 
 Section 18. WAIVER OF JURY TRIAL, ETC. EACH BORROWER, THE AGENT AND EACH LENDER HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM CONCERNING ANY RIGHTS UNDER THIS AGREEMENT, THE LOAN AGREEMENT OR THE OTHER LOAN DOCUMENTS, OR UNDER ANY OTHER AMENDMENT, WAIVER, CONSENT, INSTRUMENT, DOCUMENT OR OTHER AGREEMENT DELIVERED OR WHICH IN THE FUTURE
MAY BE DELIVERED IN CONNECTION THEREWITH, OR ARISING FROM ANY FINANCING RELATIONSHIP EXISTING IN CONNECTION WITH THE LOAN AGREEMENT, AND AGREES THAT ANY SUCH ACTION, PROCEEDINGS OR COUNTERCLAIM SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.
EACH BORROWER CERTIFIES THAT NO OFFICER, REPRESENTATIVE, AGENT OR ATTORNEY OF THE AGENT, ANY LENDER OR THE ISSUING LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE AGENT, ANY LENDER OR THE ISSUING LENDER WOULD NOT, IN THE EVENT OF ANY
ACTION, PROCEEDING OR COUNTERCLAIM, SEEK TO ENFORCE THE FOREGOING WAIVER. EACH BORROWER HEREBY ACKNOWLEDGES THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE AGENT AND THE LENDERS ENTERING INTO THIS AGREEMENT. 
 [Remainder of this page intentionally left blank] 
  

 - 13 - 

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

			
	BORROWERS:
	
	 BEST METAL FINISHING, INC.

	 a Delaware corporation

		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Vice President

  

			
	 CABELL CONSTRUCTION COMPANY

	 a Delaware corporation

		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	 CENTRIFUGAL SERVICES, INC.

	 an Illinois corporation

		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	 CLINCH RIVER CORPORATION

	 a Virginia corporation

		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	 ELGIN INTERNATIONAL, LTD.

	 a Delaware corporation

		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Vice President

 Signature Page to 
 Fifth Amendment to Loan Agreement 

			
	ELGIN NATIONAL INDUSTRIES, INC.
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Vice President

  

			
	ELGIN REAL ESTATE HOLDINGS, LTD.
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Vice President

  

			
	LELAND-POWELL FASTENERS, INC.
	a Tennessee corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	MINERAL & INDUSTRIAL PRODUCTS
CORPORATION,
	a Delaware corporation
		
	By:	 	 /s/ David Hall

	Name:	 	David Hall
	Title:	 	Vice President

  

			
	MINING CONTROLS, INC.
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	 Wayne J. Conner

	Title:	 	Senior Vice President

 Signature Page to 
 Fifth Amendment to Loan Agreement 

			
	NORRIS SCREEN AND MANUFACTURING,
INC.
	a West Virginia corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	ROBERTS & SCHAEFER COMPANY
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	ROBERTS & SCHAEFER INTERNATIONAL,
LTD.
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	SOROS ASSOCIATES, INC.
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	SOROS INTERNATIONAL, LTD.
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Vice President

 Signature Page to 
 Fifth Amendment to Loan Agreement 

			
	TABOR MACHINE COMPANY
	a West Virginia corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	TRANSERVICE, INC.
	a Delaware corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Senior Vice President

  

			
	VANCO INTERNATIONAL, INC.
	a Georgia corporation
		
	By:	 	 /s/ Wayne J. Conner

	Name:	 	Wayne J. Conner
	Title:	 	Vice President

 Signature Page to 
 Fifth Amendment to Loan Agreement 

			
	AGENT AND LENDER:
	
	WELLS FARGO FOOTHILL, INC.
	as Agent and as Lender
		
	By:	 	 /s/ Andrew T. Furlong III

	Name:	 	Andrew T. Furlong III
	Title:	 	Vice President

 Signature Page to 
 Fifth Amendment to Loan Agreement 

			
	LENDER:
	
	MAST CREDIT OPPORTUNITIES I, (MASTER) LTD.,
	as a Lender
		
	By:	 	 /s/ David Steinberg

	Name:	 	David Steinberg
	Title:	 	Partner

 Signature Page to 
 Fifth Amendment to Loan Agreement 

 ANNEX I 
 [See Supplemental Schedules Attached]

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