Document:

Exhibit 10.4

Form of Restricted Stock Award Agreement

under the FS Bancorp, Inc. 2018 Equity Incentive Plan

 

FS BANCORP, INC.

2018 EQUITY INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

RS No. _______________                                                                                    Grant Date: _______________

This Restricted Stock Award ("Restricted Stock Award") is granted by FS Bancorp, Inc. ("Corporation") to [Name] ("Grantee") in accordance with the terms of this Restricted Stock Award Agreement ("Agreement") and subject to the provisions of the FS Bancorp, Inc. 2018 Equity Incentive Plan, as amended from time to time ("Plan").  The Plan is incorporated herein by reference.

	
1.

	
Restricted Stock Award.  The Corporation makes this Restricted Stock Award of [Number] Shares to Grantee [in exchange for a payment of $________].  These Shares are subject to forfeiture and to limits on transferability until they vest, as provided in Sections 2, 3 and 4 of this Agreement and in Article VI of the Plan.

	
2.

	
Vesting Dates:  The Shares shall vest as follows:

                                                                    

	Vesting Date 	Number of Shares Vesting 
	 	 

	
3.

	
Transferability.  The Grantee may not sell, assign, transfer, pledge or otherwise encumber any Shares that have not vested, except in the event of the Grantee's death, by will or by the laws of descent and distribution or pursuant to a Domestic Relations Order.  The Committee, in its sole and absolute discretion, may allow the Grantee to transfer all or any portion of this Restricted Stock Award to the Grantee's Family Members, as provided in the Plan.

	
4.

	
Termination of Service.  If the Grantee terminates Service for any reason other than in connection with a Change in Control or the death or Disability of the Grantee, any Shares that have not vested as of the date of that termination shall be forfeited to the Corporation.  If the Grantee's Service terminates on account of the Grantee's death or Disability, the Vesting Date for all Shares that have not vested or been forfeited shall be accelerated to the date of that termination of Service.

	
5.

	
Effect of Change in Control.  Upon a Change in Control, the Vesting Date for all Shares that have not vested or been forfeited shall be accelerated solely in accordance with Plan Section 6.2(b)(iii).

	
6.

	
Stock Power.  The Grantee agrees to execute a stock power with respect to each stock certificate reflecting the Shares, or other evidence of book-entry stock ownership, in

 

	
 

	
favor of the Corporation. The Shares shall not be issued by the Corporation until the required stock powers are delivered to the Corporation.

	
7.

	
Delivery of Shares.  The Corporation shall issue stock certificates or evidence of the issuance of such Shares in book-entry form, in the name of the Grantee reflecting the Shares vesting on each Vesting Date in Section 2.  The Corporation shall retain these certificates or evidence of the issuance of Shares in book-entry form until the Shares represented thereby become vested.  Prior to vesting, the Shares shall be subject to the following restriction, communicated in writing to the Corporation's stock transfer agent:

These shares of common stock are subject to the terms of an Award Agreement between FS Bancorp, Inc. and [name] dated [grant date] made pursuant to the terms of the FS Bancorp, Inc. 2018 Equity Incentive Plan, copies of which are on file at the executive offices of FS Bancorp, Inc., and may not be sold, encumbered, hypothecated or otherwise transferred except in accordance with the terms of such Plan and Award Agreement.

	
8.

	
Grantee's Rights Regarding Dividends and Voting.  Any dividends declared and paid with respect to Shares that are subject to this Agreement shall be held by the Company on behalf of the Grantee until the Grantee vests in those Shares, as provided for in the Plan.  If the Grantee vests in Shares, then the held dividends related to those Shares shall be paid to the Grantee or the Grantee's Beneficiary in a lump sum, without interest, within thirty (30) days following the applicable Vesting Date.  If the Grantee does not vest in Shares, then the Grantee shall immediately forfeit his or her interest in the held dividends related to those Shares. The Grantee may exercise all voting rights appurtenant to the Shares.

	
9.

	
Delivery of Shares to Grantee.  Upon the vesting of any Shares, the restrictions in Sections 3 and 4 shall terminate, and the Corporation shall deliver only to the Grantee (or, if applicable, the Grantee's Beneficiary, estate or Family Member) a certificate (without the legend referenced in Section 7) or evidence of the issuance of Shares in book-entry form, and the related stock power in respect of the vesting Shares.  The Corporation's obligation to deliver a stock certificate for vested Shares, or evidence of the issuance of Shares in book-entry form, can be conditioned upon the receipt of a representation of investment intent from the Grantee (or the Grantee's Beneficiary, estate or Family Member) in such form as the Committee requires.  The Corporation shall not be required to deliver stock certificates for vested Shares, or evidence of the issuance of Shares in book-entry form, prior to: (a) the listing of those Shares on the Nasdaq; or (b) the completion of any registration or qualification of those Shares required under applicable law.

	
10.

	
Adjustments in Shares.  In the event of any recapitalization, forward or reverse stock split, reorganization, merger, consolidation, spin-off, combination, exchange of Shares or other securities, stock dividend, special or recurring dividend or distribution, liquidation, dissolution or other similar corporate transaction or event, the Committee, in its sole discretion, shall adjust the number of Shares or class of securities of the Corporation covered by this Agreement.  Any additional Shares or other securities received by the 

 

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Grantee as a result of any such adjustment shall be subject to all restrictions and requirements applicable to Shares that have not vested. The Grantee agrees to execute any documents required by the Committee in connection with an adjustment under this Section 10.

	
11.

	
Tax Election.  The Grantee understands that an election may be made under Section 83(b) of the Code to accelerate the Grantee's tax obligation with respect to receipt of the Shares from the Vesting Dates to the Grant Date by timely submitting an election to the Internal Revenue Service substantially in the form attached hereto (or in accordance with the Internal Revenue Service rules in effect at the time the election is made, e.g., electronically).  This election shall not accelerate when dividends related to those Shares will be paid.

	
12.

	
Tax Withholding.  The Corporation shall have the right to require the Grantee to pay to the Corporation the amount of any tax that the Corporation is required to withhold with respect to such Shares, or in lieu thereof, to retain or sell without notice, a sufficient number of Shares to cover the minimum amount required to be withheld, provided, however, that (a) no Shares are withheld with a value exceeding the maximum amount of tax that may be required to be withheld by law (or such other amount as may be permitted while still avoiding classification of the Restricted Stock Award as a liability for financial accounting purposes), and (b) with respect to a Restricted Stock Award held by any Participant who is subject to the filing requirements of Section 16 of the Exchange Act, any such share withholding must be specifically approved by the Compensation Committee as the applicable method that must be used to satisfy the tax withholding obligation or such share withholding procedure must otherwise satisfy the requirements for an exempt transaction under Section 16(b) of the Exchange Act.  The Corporation shall have the right to deduct from all dividends paid with respect to the Shares the amount of any taxes that the Corporation is required to withhold with respect to such dividend payments.

	
13.

	
Plan and Committee Decisions are Controlling.  This Agreement and the award of Shares to the Grantee are subject in all respects to the provisions of the Plan, which are controlling.  Capitalized terms herein not defined in this Agreement shall have the meaning ascribed to them in the Plan.  All decisions, determinations and interpretations by the Committee respecting the Plan, this Agreement or the award of Shares shall be binding and conclusive upon the Grantee, any Beneficiary of the Grantee or the legal representative thereof.

	
14.

	
Grantee's Employment.  Nothing in this Agreement shall limit the right of the Corporation or any of its Affiliates to terminate the Grantee's service or employment as a director, advisory director, director emeritus, officer or employee, or otherwise impose upon the Corporation or any of its Affiliates any obligation to employ or accept the services or employment of the Grantee.

	
15.

	
Amendment.  The Committee may waive any conditions of or rights of the Corporation or modify or amend the terms of this Agreement; provided, however, that the Committee may not amend, alter, suspend, discontinue or terminate any provision of this Agreement

 

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if such action may adversely affect the Grantee without the Grantee's written consent. To the extent permitted by applicable laws and regulations, the Committee shall have the authority, in its sole discretion but with the permission of the Grantee, to accelerate the vesting of the Shares or remove any other restrictions imposed on the Grantee with respect to the Shares, whenever the Committee may determine that such action is appropriate.

	
16.

	
Grantee Acceptance.  The Grantee shall signify acceptance of the terms and conditions of this Agreement and acknowledge receipt of a copy of the Plan by signing in the space provided below and returning the signed copy to the Corporation.

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

	
 

	FS BANCORP, INC.
	
 

	
 

	
 

	
 

 

	
 

	
By ________________________________

	
 

	
Its ________________________________

	
 

	
 

 

	
 

	
 

 

 

	
 

	
ACCEPTED BY GRANTEE

	
 

	
 

	 	___________________________________ 
	 	(Signature) 
	 	 
	 	___________________________________ 
	 	(Print Name)
	 	 
	 	___________________________________ 
	 	(Street Address)
	 	 
	 	___________________________________ 
	
 

	
(City, State & Zip Code)

Beneficiary Designation:

The Grantee designates the following Beneficiary to receive the Shares upon the Grantee's death:

__________________________________________________________________________

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STOCK POWER

(One stock power for each stock certificate or grant in book-entry form issued)

For value received, I hereby sell, assign, and transfer to FS Bancorp, Inc. (the "Corporation") ____________ shares of the capital stock of the Corporation, standing in my name on the books and records of the aforesaid Corporation, represented by Certificate No. ____________________ or otherwise identified in book-entry form as ___________________, and do hereby irrevocably constitute and appoint the Secretary of the Corporation attorney, with full power of substitution, to transfer this stock on the books and records of the aforesaid Corporation.

________________________________

Dated:

________________________

In the presence of:

________________________

 83(b) ELECTION FORM

TO:            Internal Revenue Service Center

[Address where the employee files his or her personal income tax return]

ELECTION UNDER SECTION 83(b)

OF THE INTERNAL REVENUE CODE OF 1986

	
Name:

	
 

	
Address:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

 

Social Security Number ____ - __ - ____

Property with respect to which this Election is made: _______ shares of the common stock of FS Bancorp, Inc.

Date of Grant or Transfer: ____________, _____.

Taxable Year for which Election is made:  Calendar Year _____.

Nature of the Restrictions to which the Property is Subject:  (i) a vesting schedule pursuant to which the taxpayer will not be fully vested in the property until ___________.

Fair Market Value of the Property upon receipt by taxpayer $___________.

Amount Paid for the Property: ____________.

Copies of this Election have been furnished to ___________________________.

A copy of this Election also shall be attached to my IRS Form 1040 for calendar year _____.

__________                                                _____________________________________

Date                                                                      SignatureEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 This
Second Amendment to Term Loan Agreement (this “Amendment”) dated as of May 17, 2018, is made by and among NORDSON CORPORATION, an Ohio corporation (the “Borrower”), each of the financial institutions
party hereto (the “Lenders”), and PNC BANK, NATIONAL ASSOCIATION, in its capacity as a Lender and as administrative agent for the Lenders (in such capacity as administrative gent, the “Agent”). 

WITNESSETH: 

WHEREAS, the Borrower, Agent and Lenders are parties to that certain Term Loan Agreement with an Effective Date of February 21,
2017 and a Closing Date of March 31, 2017 (as amended by that certain First Amendment and Joinder to Term Loan Agreement dated as of March 31, 2017 and as further amended, restated, supplemented or otherwise modified from time to time, the
“Loan Agreement”), pursuant to which the Lenders have made the Loans available to the Borrower subject to the terms and conditions set forth in the Loan Agreement; 

WHEREAS, the Borrower has requested the Agent and the Lenders to amend the Loan Agreement to extend the Eighteen Month Term Loan
Maturity Date to September 30, 2021; 
 WHEREAS, the Agent and the Lenders are agreeable to amend the Loan Agreement
subject to the terms and conditions set forth in this Amendment; and 
 NOW, THEREFORE, in consideration of the premises and
further valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1.
Definitions. Capitalized terms not otherwise defined in this Amendment have the respective meanings assigned thereto in the Loan Agreement. 

2. Amendments to Loan Agreement. Subject to the terms and conditions set forth herein, and in reliance upon the representations and
warranties of the Borrower made herein, the Loan Agreement is amended as follows: 
 (a) Section 1.01 of the Loan Agreement,
Definitions, is hereby amended by adding the following new definitions in proper alphabetical order: 
 “Benefit Plan” shall
mean any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of
ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“LIBOR Termination Date” shall have the meaning given to such term in Section 3.03(b). 

  
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 “PTE” shall mean a prohibited transaction class exemption issued by the U.S. Department
of Labor, as any such exemption may be amended from time to time. 
 “Second Amendment Fee Letter” means that certain fee letter
agreement dated as of April 24, 2018 by and among Borrower, PNC Capital Markets and Agent. 
 (b) Section 1.01 of the Loan Agreement,
Definitions, is hereby amended by amending and restating the following definitions in their entirety as follows: 
 “Eighteen
Month Term Loan Maturity Date” shall mean September 30, 2021. 
 “Loan Documents” shall mean, collectively, this
Agreement, each Note, each Guaranty of Payment, the Fee Letter, the Second Amendment Fee Letter and any other documents relating to any of the foregoing, as any of the foregoing may from time to time be amended, restated or otherwise modified or
replaced. 
 (c) Section 2.05 of the Loan Agreement, Fees, is hereby amended and restated in its entirety as follows: 

Section 2.05 Fees. Borrower shall pay the fees set forth in the Fee Letter and the Second Amendment Fee Letter. 

(d) Section 3.03 of the Loan Agreement, Eurodollar Deposits Unavailable or Interest Rate Unascertainable, is hereby amended and restated
in its entirety as follows: 
 Section 3.03 Eurodollar Deposits Unavailable or Interest Rate Unascertainable. 

(a) In respect of any Eurodollar Loan, in the event that Agent shall have determined that for Eurodollar Loans, that Dollar deposits in the
relevant amount for the relevant Interest Period for such Eurodollar Loan are not available to Agent in the applicable Eurodollar market, or that, by reason of circumstances affecting such market, adequate and reasonable means do not exist for
ascertaining the applicable LIBOR Rate applicable to such Interest Period, as the case may be, Agent shall promptly give notice of such determination to Borrower and (i) any notice of a conversion of an existing Base Rate Loan to a Eurodollar
Loan shall be deemed a notice to continue a Base Rate Loan, and (ii) Borrower shall be obligated either to prepay, or with respect to a Eurodollar Loan, to convert to a Base Rate Loan, any outstanding Eurodollar Loan on the last day of the then
current Interest Period with respect thereto. 
  

	 	(b)	 If Agent determines (which determination shall be final and conclusive, absent manifest error) that either
(i) (x) the circumstances set forth in Section 3.03(a) have arisen and are unlikely to be temporary, or (y) the circumstances set forth in Section 3.03(a) have not arisen but the applicable supervisor or administrator (if any) of
the LIBOR Rate or a Governmental Authority having jurisdiction over Agent has made a public statement identifying the specific date after which the LIBOR Rate shall no longer be used for determining interest rates for loans (either such date, a
“LIBOR Termination Date”), or (ii) a rate other than the LIBOR Rate has become a widely recognized benchmark rate for newly originated loans in Dollars in the U.S. market, then Agent may (in consultation

  
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with the Borrower) choose a replacement index for the LIBOR Rate and make adjustments to applicable margins and related amendments to this Agreement as referred to below such that, to the extent
practicable, the all-in interest rate based on the replacement index will be substantially equivalent to the all-in LIBOR Rate-based interest rate in effect prior to its
replacement. Agent and the Borrower shall enter into a mutually agreeable amendment to this Agreement to reflect the replacement index, the adjusted margins and such other related amendments as may be appropriate, in the reasonable discretion of
Agent, for the implementation and administration of the replacement index-based rate, but no other substantive matters unless agreed to by Borrower, Agent and the requisite Lenders. Notwithstanding anything to the contrary in this Agreement or the
other Loan Documents (including, without limitation, Section 10.03), such amendment shall become effective without any further action or consent of any other party to this Agreement at 5:00 p.m. Cleveland, Ohio time on the tenth (10th) Business Day after the date a draft of the amendment is provided to the Lenders, unless Agent receives, on or before such tenth (10th) Business
Day, a written notice from the Required Lenders stating that such Lenders object to such amendment. Selection of the replacement index, adjustments to the applicable margins, and amendments to this Agreement (i) will be determined with due
consideration to the then-current market practices for determining and implementing a rate of interest for newly originated loans in the United States and loans converted from a LIBOR Rate-based rate to a replacement index-based rate, and
(ii) may also reflect adjustments to account for (x) the effects of the transition from the LIBOR Rate to the replacement index and (y) yield- or risk-based differences between the LIBOR Rate and the replacement index. Until an
amendment reflecting a new replacement index in accordance with this Section 3.03(b) is effective, each advance, conversion and renewal of an Eurodollar Loan will continue to bear interest with reference to the LIBOR Rate; provided however,
that if Agent determines (which determination shall be final and conclusive, absent manifest error) that a LIBOR Termination Date has occurred, then following the LIBOR Termination Date, all Eurodollar Loans shall automatically be converted to the
Base Rate Loans until such time as an amendment reflecting a replacement index and related matters as described above is implemented. Notwithstanding anything to the contrary contained herein, if at any time the replacement index is less than zero,
at such times, such index shall be deemed to be zero for purposes of this Agreement. 

 (e) Article IX of the Loan Agreement,
The Agent, is hereby amended by adding the new following Section 9.14 at the end of such Article: 
 Section 9.14
Certain ERISA Matters. 
 (a) Each Lender (x) represents and warrants, as of the date such Person became a Lender
party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, Agent and the Joint Lead Arrangers and their respective Affiliates, and
not, for the avoidance of doubt, to or for the benefit of Borrower, that at least one of the following is and will be true: 

  
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 (i) such Lender is not using “plan assets” (within the meaning of 29
CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans or the Commitments, 

(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a
class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts),
PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions
involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect
to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, 

(iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning
of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Commitments
and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through
(g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect
to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or 

(iv) such other representation, warranty and covenant as may be agreed in writing between Agent, in its sole discretion, and
such Lender. 
 (b) In addition, unless sub-clause (i) in the immediately
preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause
(a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender
party hereto, for the benefit of, Agent and the Joint Lead Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of Borrower, that: 

(i) none of Agent or the Joint Lead Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets
of such Lender (including in connection with the reservation or exercise of any rights by Agent under this Agreement, any Loan Document or any documents related to hereto or thereto), 

(ii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a
broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E), 

  
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 (iii) the Person making the investment decision on behalf of such Lender with
respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions
and investment strategies (including in respect of the Loans), 
 (iv) the Person making the investment decision on behalf of
such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Commitments and this
Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder, and 
 (v) no fee
or other compensation is being paid directly to the Agent or Joint Lead Arrangers or any their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Commitments or this Agreement. 

Agent and the Joint Lead Arrangers hereby inform the Lenders that each such Person is not undertaking to provide impartial
investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof
(i) may receive interest or other payments with respect to the Loans, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans, or the Commitments for an amount less than the amount being paid for an interest
in the Loans or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees,
facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment
fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing. 

(f) Section 10.03 of the Loan Agreement, Amendments; Consents, is hereby amended by amending and restating clause (ii) of the
proviso as follows: 
 (ii) the Fee Letter or the Second Amendment Fee Letter may be amended, modified or rights or privileges thereunder
waived, in a writing executed only by the parties thereto. 
 3. Effectiveness; Conditions Precedent. The effectiveness of this
Amendment and the amendments to the Loan Agreement contained herein are subject to: 
  

	 	(a)	the Agent’s receipt of one or more counterparts of this Amendment, duly executed by the Borrower, the Agent and the Lenders; 

  
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	 	(b)	the representations and warranties contained in Section 4 herein are true and correct pursuant to the terms thereof; 

  

	 	(c)	payment to the Agent, for the account of each Lender that executes and delivers a signature page to this Amendment to the Agent, an amendment fee, which fee shall be equal to an amount of (i) 0.05% multiplied
by (ii) the aggregate outstanding principal amount of Eighteen Month Term Loans of such Lender immediately prior to the effectiveness of the Amendment; and 

 

	 	(d)	payment of all other fees and expenses payable on the effective date of this Amendment (including, without limitation, reasonable fees, charges and disbursements of counsel for the Agent). 

4. Representations and Warranties. In order to induce the Agent and the Lenders to enter into this Amendment, the Borrower hereby
represents and warrants as follows as of the date hereof: 
  

	 	(a)	no Event of Default exists; 

  

	 	(b)	each of the representations and warranties contained in Article VI of the Loan Agreement and in the other Loan Documents are true and correct in all material respects (except such representations and warranties that are
qualified by materiality, which shall be true and correct in all respects) (except to the extent that any such representations and warranties relates to an earlier date or period, in which case such representations and warranties shall have been
true and correct in all material respects on and as of such earlier date or period (except such representations and warranties that are qualified by materiality, which shall be true and correct in all respects on and as of such earlier date or
period)); and 

  

	 	(c)	no change, occurrence or development shall have occurred since October 31, 2017, that has had or could reasonably be expected to have a material adverse effect on the business, operations, property or condition
(financial or otherwise) of Borrower and its Subsidiaries taken as a whole. 

 5. Entire Agreement. This Amendment,
together with all the Loan Documents executed in connection herewith (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and
supersedes any prior negotiations and agreements among the parties relating to such subject matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no
such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or
implied, have been made by any party to the other with respect to the subject matter hereof. None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with
Section 10.03 of the Loan Agreement. 

  
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 6. Full Force and Effect of Agreement; No Novation. Except as hereby specifically amended,
modified or supplemented herein, the Loan Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms. The parties hereto acknowledge
and agree that the amendments contained herein do not constitute a novation of the Loan Agreement, the other Loan Documents or the Indebtedness described therein, and shall not, in any case, affect, diminish or abrogate the Borrower’s liability
under the Loan Agreement or any other Loan Document or the priority of the Loan Agreement or any other Loan Document. 
 7. Reviewed by
Attorneys. Borrower represents and warrants to the Agent and the Lenders that it (a) understands fully the terms of this Amendment and the consequences of the execution and delivery of this Amendment, (b) has been afforded an
opportunity to have this Amendment reviewed by, and to discuss this Amendment and document executed in connection herewith with, such attorneys and other persons as Borrower may wish, (c) has entered into this Amendment and executed and
delivered all documents in connection herewith of its own free will and accord and without threat, duress or other coercion of any kind by any Person and (d) is not relying upon oral representations or statements inconsistent with the terms and
provisions of this Amendment. The parties hereto acknowledge and agree that neither this Amendment nor the other documents executed pursuant hereto shall be construed more favorably in favor of one than the other based upon which party drafted the
same, it being acknowledged that all parties hereto contributed substantially to the negotiation and preparation of this Amendment and the other documents executed pursuant hereto or in connection herewith. 

8. Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts
and by facsimile signature, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. 

9. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO AND THE RESPECTIVE
RIGHTS AND OBLIGATIONS OF BORROWER, AGENT AND THE LENDERS SHALL BE GOVERNED BY OHIO LAW, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS, AND SHALL BE FURTHER SUBJECT TO THE PROVISIONS OF SECTION 10.15 OF THE LOAN AGREEMENT. 

10. Severability Of Provisions; Captions; Attachments. Any provision of this Amendment that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other
jurisdiction. The several captions to Sections and subsections herein are inserted for convenience only and shall be ignored in interpreting the provisions of this Amendment. Each schedule or exhibit attached to this Amendment shall be incorporated
herein and shall be deemed to be a part hereof. 
 11. References. All references in any of the Loan Documents to the “Credit
Agreement” or “Loan Agreement” shall mean the Loan Agreement (as amended by this Amendment), as further amended, modified, supplemented or restated from time to time in accordance with the terms of the Loan Agreement. 

  
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 12. Binding Effect; Borrower’ Assignment. This Amendment shall be binding upon and
inure to the benefit of Borrower, Agent and each of the Lenders and their respective successors and assigns, except that Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of
Agent and all of the Lenders. 
 [Signature pages follow.]  

 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this instrument to be made, executed
and delivered by their duly authorized officers as of the day and year first above written. 
  

			
	NORDSON CORPORATION, as Borrower

 
			
		
	By:	 	  

 
			
	Name:
	Title:

 
			
	PNC BANK, NATIONAL ASSOCIATION, as Agent and a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	BANK OF AMERICA, N.A., as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	BRANCH BANKING AND TRUST COMPANY, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	KEYBANK NATIONAL ASSOCIATION, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	HSBC BANK USA, N.A., as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	U.S. BANK NATIONAL ASSOCIATION, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	COMMERZBANK AG, NEW YORK BRANCH, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	COMPASS BANK, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	BMO HARRIS BANK N.A., as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	MORGAN STANLEY BANK, N.A., as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	CHEMICAL BANK, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	FIRST NATIONAL BANK OF PENNSYLVANIA, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	CITIZENS BANK, N.A., as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	THE HUNTINGTON NATIONAL BANK, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
			
	THE NORTHERN TRUST COMPANY, as a Lender

 
			
		
	By:	 	  

 
			
	Name:
	Title:

  
 SECOND AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}]]