Document:

EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
 THE SECURITY
REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAS BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE
EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933. 

SUBORDINATED CONVERTIBLE PROMISSORY NOTE 
  

			
	 $7,500,000
	  	December 19, 2014

 For value received, Manitex International, Inc., a Michigan corporation (the “Company”), promises to pay to
the order of Terex Corporation and its permitted assigns (the “Holder”), the principal sum of SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($7,500,000) (the “Principal Amount”). This Subordinated Convertible
Promissory Note (this “Note”) is issued pursuant to the Common Stock and Convertible Debenture Purchase Agreement dated as of October 29, 2014, between the Company and the Holder (as amended, modified, restated or replaced from
time to time, the “Purchase Agreement”). All defined terms used herein and not otherwise defined shall have the meaning set forth in the Purchase Agreement. Interest shall accrue from the date of this Note on the Principal Amount
(or such portion thereof which has not been prepaid by the Company in accordance with the terms hereof (the “Unpaid Principal Amount”)) at a rate equal to 5.00% per annum (the “Base Coupon”), payable
semi-annually. 
 1. Maturity. Unless converted as provided in Section 5, this Note will automatically mature and be due
and payable on December 19, 2020 (the “Maturity Date”). At the Maturity Date, an amount equal to the Unpaid Principal Amount and all accrued but unpaid Base Coupon through the date of payment shall be due and payable to the Holder.

 2. Interest Payments. The Base Coupon shall be payable semi-annually in arrears on July 1 and January 1 (or the
next Business Day (as defined below) thereafter if such date is not a Business Day), and on the Maturity Date, commencing on July 1, 2015. Interest shall be computed based on a 360-day year composed of 12 30-day months. For purposes of this
Note, a “Business Day” means any day except a Saturday, Sunday or any other day on which The Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 

3. Payment. All payments shall be made in lawful money of the United States of America by wire transfer of immediately available
funds to such domestic account as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the Base Coupon then due and payable, and the remainder applied to principal. 

4. Redemption. 

(a) Redemption. On any date following the third anniversary of the date hereof and prior to the Maturity Date, the Company may
redeem this Note in full (and not less 

  
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than in full) if the last reported sale price of the Company’s common stock, no par value (the “Common Stock”) on a Trading Market for at least 20 trading days during any 30
consecutive trading day period equals or exceeds 130% of the Conversion Price (as defined below). The Company shall provide reasonable notice to the Holder if it is aware of conditions that may lead to its right to redeem under this section and/or
it is considering redemption. 
 (b) Notice of Redemption. In the event that the requirements of Section 4(a) have been
met, the Company may, in its sole discretion, provide written notice of redemption (a “Notice of Redemption”) to the Holder, which notice (i) shall specify a date of redemption (the “Redemption Date”) at least
30 days but not more than 60 days following the date of the Notice of Redemption and describe in reasonable detail which of the requirements set forth under Section 4(a) have been met, and (ii) must be delivered within 5 trading days
following the end of the 30 trading day period described in Section 4(a) above. 
 (c) Redemption Date. Following
delivery of a Notice of Redemption to the Holder, this Note will become due and payable on the Redemption Date, and on the Redemption Date, the Holder shall surrender this Note to the Company, and the Company shall pay the Holder the Unpaid
Principal Amount of, and any and all accrued but unpaid Base Coupon on this Note through the Redemption Date. On and after the Redemption Date, interest will cease to accrue on this Note unless the Company defaults in the payment of the redemption
price and accrued interest. 
 5. Conversion. 

(a) Conversion Price. The “Conversion Price” shall initially be set at $13.65. 

(b) Conditions to Conversion. This Note may be converted, at the election of Holder only: 

(i) In the event that the closing price of the Common Stock for any five (5) consecutive trading days exceeds 110% of the then in effect
Conversion Price; provided that notice is given in accordance with Section 5(c) below within 10 days thereof; 
 (ii) Following the
occurrence of either a Change of Control (as defined below) or a Termination of Trading (as defined below); provided that notice is given in accordance with Section 5(c) below within 10 days thereof; 

(iii) During the six month period prior to the Maturity Date; or 

(iv) Following receipt by the Holder of a Notice of Redemption from the Company; provided that notice is given in accordance with
Section 5(c) below within 10 days thereof. 
 For the avoidance of doubt, this conversion right is in addition to the put right set forth in
Section 6 hereof that arises in the event of a Change of Control or a Termination of Trading. 
 (c) Mechanics of
Conversion. The Holder seeking to convert this Note in accordance with this Section 5 shall provide the Company hereto with a notice of conversion at 

  
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least 30 days but not more than 60 days before the date for conversion set forth in such notice (the “Conversion Date”). Following delivery of such notice of conversion, this
Note will become due and payable on the Conversion Date, and on the Conversion Date, the Holder shall surrender the Note to the Company, and the Company shall deliver to the Holder, at the Company’s sole discretion, either: 

(i) a number of shares of Common Stock obtained by dividing (A) the sum of the Unpaid Principal Amount of, and all accrued but unpaid
Base Coupon through the Conversion Date, by (B) the then in effect Conversion Price, or 
 (ii) a cash payment equal to the product of
(A) the number of shares that the Holder would be entitled to receive pursuant to the foregoing clause 5(c)(i) on the Conversion Date pursuant to a conversion completed under that clause, multiplied by (B) the closing price of the Common
Stock of the Company on the trading date immediately preceding the Conversion Date, or 
 (iii) a combination of cash and shares of Common
Stock, so long as the sum of (A) such amount of cash and (B) the product of (x) the number of such shares of Common Stock multiplied by (y) the closing price of the Common Stock of the Company on the trading date immediately
preceding the Conversion Date, equals the aggregate dollar amount of cash that the Holder would be entitled to receive pursuant to the foregoing clause 5(c)(ii) on the Conversion Date pursuant to a conversion completed under that clause. 

No fractional share shall be issued upon the conversion of this Note. If the conversion would otherwise result in the issuance of a fraction of a share of
Common Stock, the Company shall, in lieu of issuing any fractional share of Common Stock, pay the Holder an amount in cash equal to the value of such fractional share in accordance with the closing price of the Common Stock on a Trading Market on
the date that is three (3) Business Days prior to the Conversion Date. On and after the Conversion Date, interest will cease to accrue on this Note unless the Company defaults in the payment of the conversion price and accrued interest. 

(d) Effect of Conversion. Upon conversion of this Note pursuant to this Section 5, the Holder shall surrender this Note,
duly endorsed, at the principal offices of the Company. Upon conversion of this Note, the Company will be forever released from all of its obligations and liabilities under this Note. The Holder shall continue to be entitled to receive any Base
Coupon accrued through the Conversion Date and interest thereon. 
 (e) Conversion Price Adjustment Provisions. The Conversion
Price shall be adjusted upon occurrence of the following events between the date this Note is issued and the date it is converted pursuant to this Section 5: 

(i) Adjustment for Stock Splits, Stock Dividends or Recapitalizations, etc. The Conversion Price shall be proportionally adjusted to
reflect any stock dividend, stock split, reverse stock split or reclassification or recapitalization effected by the Company after the date of this Note and prior to the conversion of this Note pursuant to the terms of this Section 5. 

  
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 (ii) Adjustment for Issuance of Subscription Rights and Warrants. Upon the issuance of
any rights (other than convertible debt securities) or warrants entitling the holders thereof for a period of not more than 45 days from the issuance date thereof to subscribe for or purchase Company common stock at a price per share less than the
closing price of the Company’s common stock on the trading date immediately preceding the issuance date of such rights or warrants, the Conversion Price shall be decreased in a manner giving proportional effect to both the additional shares of
common stock to be issued pursuant to such rights or warrants and the difference between the exercise price and the last reported closing price of the Company’s common stock on the trading date immediately preceding the issuance date of such
rights or warrants. 
 (iii) Adjustment for Cash Dividends and Other Distributions. Except to the extent governed by clause
(i) above, upon the payment of a cash dividend or a distribution of other assets or property to all or substantially all of the holders of the Company’s common stock, the Conversion Price shall be decreased proportionally in respect of the
proportion of such cash dividend or fair market value of such distributed property, as applicable, to the last reported closing price of the Company’s common stock on the trading date preceding such distribution. 

(iv) Adjustment for Reorganization, Consolidation, Merger. After the date of this Note, in case of any reorganization of the Company,
or in the case that the Company consolidates with or merges into another corporation or conveys all or substantially all of its assets to another corporation and then distribute the proceeds to its interest holders, then, in each such case, the
Holder, upon the conversion of this Note (as provided in this Section 5) at any time after the consummation of such reorganization, consolidation, merger or conveyance, shall be entitled to receive, in lieu of the consideration otherwise
receivable upon the conversion of this Note prior to such consummation, the stock or other securities or property to which the Holder would have been entitled upon the consummation of such reorganization, consolidation, merger or conveyance if the
Holder had converted this Note immediately prior thereto, all subject to further adjustment as provided in this Note, and in each such case, the terms of this Note shall be applicable to the Common Stock or other securities or property receivable
upon the conversion of this Note after the consummation of such reorganization, consolidation, merger or conveyance. This Section 5(e)(iv) does not limit the conversion and put rights set forth herein in connection with a Change of Control or a
Termination of Trading. 
 6. Repurchase Option Upon a Change of Control or Termination of Trading. 

(a) Within 60 days following the occurrence of either a Change of Control (as defined below) or a Termination of Trading (as defined below),
the Holder may, at its option, put this Note (in whole but not in part) for an amount in cash equal to (A) the Unpaid Principal Amount, and (B) all accrued but unpaid Base Coupon through the date of payment. For the avoidance of doubt,
this put right is in addition to the conversion right set forth in Section 5 hereof that arises in the event of a Change of Control or a Termination of Trading. 

(b) For purposes of this Section 6, a “Change of Control” shall mean the occurrence of any of the following transactions: 

(i) a “person” or “group” within the meaning of Section 13(d)(3) and 14(d) of the Exchange Act of 1934 (the
“Exchange Act”) (including any group acting for the purpose of acquiring, holding or disposing of securities within the meaning or Rule 13-d-5(b)(1) 

  
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under the Exchange Act) files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group has become the direct or indirect “beneficial
owner,” as defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act (except that a person will be deemed to have beneficial ownership of all shares of capital stock that person has the right to acquire irrespective of whether that right is
exercisable immediately or only after the passage of time), of Common Stock representing more than fifty percent (50%) of the voting power of the Common Stock entitled to vote generally in the election of the Company’s board of directors
(the “Board of Directors”); or 
 (ii) the first day on which a majority of the members of the Board of Directors does not
consist of “Continuing Directors” which, for purposes of this Section 6(b)(ii) shall means as of any date of determination, (1) any individual who on the date of this Note was a member of the Board of Directors and (2) each
director whose election, or, solely to fill the vacancy of a Continuing Director, appointment by the Board of Directors or whose nomination for election by the Company’s stockholders is duly approved by the vote of a majority of the directors
on the Board of Directors (or such lesser number comprising a majority of a nominating committee if authority for such nominations or elections has been delegated to a nominating committee whose authority and composition have been approved by at
least a majority of the directors who were Continuing Directors at the time such committee was formed) then still in office who were either directors on the date of this Note or whose election, appointment (in the case of a vacancy of a Continuing
Director), or nomination for election was previously approved by a majority of the Continuing Directors, either by specific vote or by approval of the proxy statement issued by the Company in which such individual is named as a nominee for director;
or 
 (iii) a consolidation, merger or binding share exchange (other than any such transaction (1) that does not result in any
reclassification, conversion, exchange or cancellation of outstanding Common Stock, and (2) pursuant to which holders of the Common Stock immediately before the transaction have the entitlement to exercise, directly or indirectly, fifty percent
(50%) or more of the total voting power of all series of capital stock entitled to vote generally in elections of the Board of Directors of the continuing or surviving or successor person immediately after giving effect to such issuance), or
any conveyance, transfer, sale, lease or other disposition of all or substantially all of our properties and assets to another person; or 

(iv) the Company’s stockholders approve any plan or proposal for the Company’s liquidation or dissolution. 

(c) For purposes of this Section 6, a “Termination of Trading” shall be deemed to have occurred if the shares of the
Company’s common stock are not listed for trading on a U.S. national securities exchange with electronically disseminated quotes, except as a result of a merger involving the Company or a tender offer or exchange offer for the Company’s
common stock. 
 (d) The Company shall provide written notice to the Holder of a Change of Control or a Termination of Trading within 5 days
following such occurrence. 

  
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 7. Subordination Provisions. 

(a) The indebtedness evidenced by this Note (whether consisting of principal, interest, expenses or other sums, all as now exists or may, after
the date of this Note, be incurred, renewed, extended, or amended) shall be subordinate, junior and inferior in right and time of payment to the prior payment in full in immediately available funds of all Senior Indebtedness. For purposes of this
Note, “Senior Indebtedness” shall mean the principal and all unpaid interest, fees, expenses, letters of credit and reimbursement obligations, charges and other unpaid sums owed on, under, or in connection with (1) that certain Credit
Agreement dated as of August 19, 2013 by and among the Company, together with its U.S. and Canadian subsidiaries, and Comerica Bank, as Administrative Agent, and certain other lenders, as it may be amended, restated, extended, renewed,
replaced, or otherwise modified from time to time, (2) any other indebtedness or obligations which are incurred the date hereof by the Company (directly or indirectly) in replacement or refinancing of any Senior Indebtedness from time to time
(whether or not with the same lender(s)) or (3) any other indebtedness of the Company that is explicitly intended to be senior to this Note, whether incurred on or after the date hereof. In the event of the liquidation or dissolution of the
Company, the distribution of any of the assets of the Company or any successor on account of any liquidation, bankruptcy, receivership, reorganization, assignment for the benefit of creditors or similar proceeding (each, a
“Proceeding”), the Holder shall not be entitled to any payment or distribution pursuant to this Note or such Proceeding until all Senior Indebtedness has been satisfied in full in immediately available funds. Notwithstanding
anything to the contrary herein, the Company is permitted to make, and the Holder is permitted to accept, regularly scheduled payments of principal and interest hereunder unless (a) any holder of the Senior Indebtedness (or an authorized
representative) has notified the Company in writing that a default has occurred and is continuing with respect to the Senior Indebtedness, or (b) a Proceeding shall have commenced and be continuing with respect to the Company. 

(b) The Holder shall not at any time require, take or obtain any security interest or lien to secure all or any portion of the indebtedness
evidenced by this Note. Until the earlier of (i) acceleration or payment in full of the Senior Indebtedness, (ii) the commencement of any bankruptcy, insolvency, receivership or liquidation proceeding against the Company or its assets and
(iii) 150 days after receipt by the holder of the Senior Indebtedness of written notice from the Holder to the holder of the Senior Indebtedness of the occurrence of an event of default under the Subordinated Indebtedness so long as the Senior
Indebtedness has been paid in full or payment of the Senior Indebtedness has been accelerated , the Holder will not take or initiate any judicial proceeding or other action against the Company to collect this Note or to seek monetary damages in
respect of any failure to pay all or any portion of the indebtedness evidenced by this Note. 
 (c) This is a continuing agreement of
subordination and each holder of Senior Indebtedness may continue, without notice to the Holder, to extend credit or other accommodation or benefit and loan moneys to or for the account of the Company. It is further understood and agreed that each
holder of Senior Indebtedness may at any time, in its sole discretion, (i) renew or extend the time of payment of all or any existing or future Senior Indebtedness, (ii) waive or release any collateral or guaranty which may be held
therefor at any time, and, in reference thereto, make and enter into any such agreement or agreements with the Company, (iii) amend, modify, 

  
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supplement, restate, consolidate, waive, renew, extend, replace, increase the principal amount or otherwise change any of the terms of any of the agreements, instruments or documents governing,
evidencing, securing or otherwise relating to any Senior Indebtedness, and (iv) take or omit from taking any action with respect to any default of any Senior Indebtedness, as the holder of that Senior Indebtedness, in each case, may deem
desirable without notice to or further assent from the Holder and without in each case or any manner impairing or affecting this Note or the rights of any of any holder of any Senior Indebtedness hereunder. Each holder of Senior Indebtedness will be
entitled to the benefits of, and may directly enforce, the subordination provisions of this Note. 
 (d) The Holder agrees that no payment
or distribution to any holder of any Senior Indebtedness by the Holder pursuant to the subordination provisions of this Note will entitle the Holder to exercise any rights of subrogation in respect thereof until all of the Senior Indebtedness has
been fully paid in immediately available funds and the commitments of each holder of Senior Indebtedness have terminated. The Holder hereby expressly waives (i) notice of acceptance by any holder of Senior Indebtedness of the subordination and
other provisions of this Note, (ii) notice of the creation of any Senior Indebtedness, and (iii) any claim of impairment of any right of subrogation. The Holder consents and agrees that no holder of any Senior Indebtedness shall be under
any obligation to marshal or order the disposition of any assets in favor of the Holder or against or in payment of any or all of the Senior Indebtedness. 

(e) Should any payment, distribution (in bankruptcy or insolvency proceedings or otherwise) or other amount be received by the Holder upon or
in respect to this Note in contravention of the provisions hereof, the Holder will promptly pay what it has received over, and deliver it, to the holders of the Senior Indebtedness and, until it is so delivered, the Holder will hold the cash or
other assets it has received in trust for the benefit of the holders of the Senior Indebtedness. 
 8. Events of
Default. 
 (a) An “Event of Default” shall exist if any of the following occurs: 

(i) Failure by the Company to pay the Base Coupon (including any accrued Base Coupon) for more than thirty (30) days after such payment
date; 
 (ii) Failure by the Company to pay principal of, or interest (other than the Base Coupon) on, this Note on or before the date such
payment is due, and such failure continues for thirty (30) days; 
 (iii) Failure by the Company to deliver shares of common stock
upon the conversion of this Note, and such failure continues for a period of thirty (30) days following the scheduled settlement date for such conversion; 

(iv) The Company or any of its subsidiaries pursuant to or within the meaning of Title 11, U.S. Code or any similar law for the relief of
debtors (“Bankruptcy Law”), (A) commences a voluntary case, (B) consents to the entry of an order of relief against it in an involuntary case, (C) consents to the appointment of a custodian of it or for all or
substantially all of its property or (D) makes a general assignment for the benefit of its creditors; 

  
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 (v) A court of competent jurisdiction enters an order or decree under any Bankruptcy Law that
(A) is for relief against the Company or any of its subsidiaries in an involuntary case, (B) appoints a custodian for the Company or any of its subsidiaries or for all or substantially all of either of its property or (C) orders the
liquidation of the Company or any of its subsidiaries, and the order or decree remains unstayed an in effect for ninety (90) days. 

(vi) Default under a bond, debenture, note, mortgage, indenture or instrument under which there may be issued or by which there may be
secured or evidenced any indebtedness for money borrowed by the Company (or by any subsidiary of the Company, the repayment of which the Company has guaranteed or for which the Company is directly responsible or liable as obligor or guarantor),
having a principal amount outstanding in excess of $10,000,000 (other than indebtedness which is non-recourse to the Company and its subsidiaries), whether such indebtedness now exists or shall hereafter be created, which default shall have resulted
in such indebtedness being declared due and payable prior to the date on which it would otherwise have become due and payable; 
 (vii) The
entry by a court of competent jurisdiction of one or more judgments, orders or decrees against the Company or any of its subsidiaries in an aggregate amount (excluding amounts covered by insurance) in excess of $10,000,000 and such judgments, orders
or decrees remain undischarged, unstayed and unsatisfied in an aggregate amount (excluding amounts covered by insurance) in excess of $10,000,000 for a period of ninety (90) consecutive days, during which execution shall not be effectively
stayed; or 
 (viii) Failure by the Company to perform or observe, or a breach of, any covenant, term, condition, warranty or agreement
contained herein (except as otherwise described in this Section 8(a)), and continuance of such failure or breach for a period of thirty (30) days after the occurrence of such failure or breach. 

(b) Notice. The Company shall be required to notify the Holder within five (5) business days of it becoming aware of the
occurrence of any default under this Note. 
 (c) Remedies. Upon the occurrence and during the continuance of any Event of Default
described in Section 8(a) above, the Holder may, by notice to the Company, (i) declare the Unpaid Principal Amount of, and any and all accrued but unpaid Base Coupon on, this Note to be, and the same shall thereupon be, immediately due and
payable with all additional interest from time to time accrued thereon and without, to the extent permitted by applicable law, presentation, demand, or protest or other requirements of any kind (including valuation and appraisement, diligence,
presentment, notice of intent to demand or accelerate and notice of acceleration), all of which are hereby expressly waived by the Company; and (ii) exercise any and all other remedies available at law or in equity. 

9. Transfer; Successors and Assigns. 

(a) The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and permitted assigns of
the parties. This Note may not be transferred by either party, in whole or in part, without the prior written consent of the other party; provided that this Note may be transferred by the Holder in the event of a transfer being

  
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made (i) to an affiliate of the transferring party, (ii) to a successor of the transferring party, by consolidation, merger or operation of law, (iii) to a purchaser of all or
substantially all of the transferring party’s assets or (iv) in connection with the pledge of collateral to a lender or other financial institution that is a credit provider to the Holder. 

(b) Subject to the preceding paragraph, this Note may be transferred only upon surrender of the original Note for registration of transfer,
duly endorsed, or accompanied by a duly executed written instrument of transfer in form reasonably satisfactory to the Company. Thereupon, a new Note (or Notes, if less than all of the Holder’s rights to this Note are transferred) for the same
Principal Amount and interest (in the aggregate) will be issued to, and registered in the name of, the transferee. Interest and principal are payable only to the registered holder of this Note (and the Holder is the initial registered holder of this
Note). 
 10. Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of New York
without regard to its conflict of laws principles. The parties hereto hereby agree to be subject to the exclusive personal jurisdiction in the federal and state courts of the State of New York located in New York City, New York and any award which
may be enforced in regard to this Note may be enforced in such federal and state courts of the State of New York. Each of the parties hereto hereby agrees to irrevocably and unconditionally waive trial by jury in any judicial proceeding between or
among the parties arising out of or related to this Note. 
 11. Notices. Any notice required or permitted to be given under
this Note by any party shall be in writing and shall be sufficiently given if delivered personally, by prepaid overnight courier or by telefacsimile to the party to be notified at such party’s address as set forth below or as subsequently
modified by written notice. All such notices and other communications shall, when mailed by return receipt requested or certified mail, or by means of any nationally recognized overnight express company, or telecopied, be effective when delivered to
the notice address (as evidenced by any signature for delivery at the notice address) or upon receipt of confirmation of delivery thereof by telecopier, respectively and such notices or communications shall be effective when delivered at the address
in the case of hand delivery. Either party hereto may change its address specified for notices herein by designating a new address by notice in accordance with this Section 11. 

12. Amendments and Waivers. Any term of this Note may be amended only with the written consent of the Company and the Holder.
Any amendment or waiver effected in accordance with this Section 12 shall be binding upon the Company, the Holder and each transferee of this Note. 

13. Waivers. Demand, presentment, notice, notice of demand, notice for payment, protest and notice of dishonor are hereby waived
by the Company. The Holder will not be deemed to waive any of its rights under this Note unless its waiver is in writing and signed by the Holder. No delay or omission by the Holder in exercising any of its rights will operate as a waiver of its
rights. A waiver in writing on one occasion will not be construed as a consent to or a waiver of any of the Holder’s right to remedy on any future occasion. 

  
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 14. Usury. Notwithstanding any provision of this Note, Holder does not intend to
charge and the Company shall not be required to pay any amount of interest or other charges in excess of the maximum permitted by applicable law. Any payment in excess of such maximum shall be refunded to the Company or credited against principal,
at the option of the Holder. 
 [Remainder of page intentionally left blank; signature page attached.] 

  
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 This Convertible Promissory Note is duly authorized and is executed and delivered by the Company as of the date
first written above. 
  

	
	MANITEX INTERNATIONAL, INC.
	
	By: /s/ Andrew M. Rooke
	Name: Andrew M. Rooke
	Title: President and Chief Operating Officer
	
	Address for notices:
	
	Manitex International, Inc.
	9725 Industrial Drive
	Bridgeview, Illinois 60455
	Facsimile: (708) 430-1335
	Attention: Andrew Rooke
	Telephone: (708) 237-2056
	Fax: (708) 430-1335
	
	with a copy to:
	
	Bryan Cave LLP
	161 N. Clark Street, Suite 4300
	Chicago, Illinois 60601
	Attention: John P. Goebel, Esq.
	Telephone: (312) 602-5155
	Fax: (312) 698-7555

 AGREED TO AND ACCEPTED: 

TEREX CORPORATION, as the Holder 
 By: /s/ Eric I. Cohen

 Name: Eric I. Cohen 
 Title: Senior Vice President 

Address for notices: 
 Terex Corporation 

200 Nyala Farm Road 
 Westport, CT 06880 

Attention: Eric I Cohen, Esq. 
 Telephone: (203) 222-5950

 Fax: (203) 722-7766EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 5 TO CREDIT AGREEMENT 

This Amendment No. 5 to Credit Agreement (“Amendment”) is made as of December 19, 2014 (“Fifth Amendment
Effective Date”) among MANITEX INTERNATIONAL, INC., a Michigan corporation, MANITEX, INC., a Texas corporation, MANITEX SABRE, INC., a Michigan corporation, BADGER EQUIPMENT COMPANY, a Minnesota corporation, and
MANITEX LOAD KING, INC., a Michigan corporation (each, individually a “US Borrower,” and collectively the “US Borrowers”) and MANITEX LIFTKING, ULC, an Alberta company (the “Canadian
Borrower” and, together with the US Borrowers, the “Borrowers” and each individually, a “Borrower”) and the other Credit Parties (as defined in the Credit Agreement, defined below) and COMERICA BANK,
a Texas banking association (in its individual capacity, “Comerica”), as US Agent, US Swing Line Lender, US Issuing Lender and a US Lender, COMERICA BANK, a Texas banking association and authorized foreign bank under the
Bank Act (Canada), through its Toronto branch (in its individual capacity, “Comerica Canada”) as Canadian Agent, Canadian Swing Line Lender, Canadian Issuing Lender and a Canadian Lender, FIFTH THIRD BANK, an Ohio
banking corporation, as a US Lender, (Canadian Lender, Canadian Swing Line Lender, US Lenders and US Swing Line Lender are sometimes referred to herein collectively as the “Lenders”). 

PRELIMINARY STATEMENT 
 The
Borrowers, the Credit Parties, US Agent, Canadian Agent and the Lenders entered into a Credit Agreement dated August 19, 2013, as amended by that First Amendment to Credit Agreement dated as of October 15, 2013, that Second Amendment to
Credit Agreement dated as of November 26, 2013, that Third Amendment to Credit Agreement dated as of April 22, 2014, and Amendment No. 4 to Credit Agreement dated as of July 21, 2014 (as amended the “Credit
Agreement”) providing terms and conditions governing certain loans and other credit accommodations extended by the US Agent, Canadian Agent and Lenders to Borrowers (“Obligations”). 

Borrowers, US Agent, Canadian Agent and the Lenders have agreed to amend the terms of the Credit Agreement as provided in this Amendment. 

AGREEMENT 
 1. Defined
Terms. In this Amendment, capitalized terms used without separate definition shall have the meanings given them in the Credit Agreement. 

2. Amendment. 
 (a) The
following terms and their respective definitions are hereby added to Section 1.1 of the Credit Agreement in their respective alphabetical order: 

“ASV Equity Investment” shall mean the investment by US Borrower, in an amount not in excess of Twenty Five
Million US Dollars (US$25,000,000), representing the purchase price for the ASV Joint Venture. 
 “ASV Joint
Venture” shall mean the purchase by US Borrower of 51% of the Equity Interest in A.S.V. Inc. from Terex Corporation. 

“Restricted Subsidiary” means, as to any Person, each Subsidiary of such Person that is not an Unrestricted
Subsidiary. 

 “Unrestricted Subsidiary” means (a) any Subsidiary of the
Parent that is designated by a Responsible Officer of the Parent as an Unrestricted Subsidiary which designation is consented to by Agent on behalf of Lenders, and such entity is listed on Schedule 6.18 hereto, but only to the extent that:
(i) except as permitted by Section 8, such Subsidiary is not party to any agreement, contract, arrangement or understanding with any Restricted Entity; (ii) except as permitted by Section 8.7, such Subsidiary is a Person with
respect to which neither the Parent nor any of its Restricted Subsidiaries has any direct or indirect obligation (A) to subscribe for additional Equity Interests other than those provided in Section 8.5, or (B) to maintain or preserve
such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and (iii) such Subsidiary has not been re-designated as a Restricted Subsidiary, and (b) any Subsidiary of a Subsidiary
that becomes an Unrestricted Subsidiary pursuant to the preceding clause (a); provided that such Subsidiary of the Unrestricted Subsidiary must also comply with the preceding conditions. 

(b) The following terms and their respective definitions contained in Section 1.1 of the Credit Agreement are hereby amended and restated
in their entirety as follows: 
 “Canadian Borrowing Base” shall mean, as of any date of determination
thereof, without duplication, an amount equal to the sum of: 
 (a) ninety percent (90%) of Canadian Borrowing Base
Obligors’ Eligible Insured Accounts; plus 
 (b) plus eighty-five percent (85%) of Canadian Borrowing Base
Obligors’ Eligible Accounts; plus 
 (c) eighty-five percent (85%) of Canadian Borrowing Base Obligors’
Eligible Government Accounts; plus 
 (d) the lesser of (i) 50% of Canadian Borrowing Base Obligors’ Eligible
Inventory, including work-in-process which is properly classified under GAAP as work-in-process inventory up to the maximum amount of the Canadian WIP Cap, or (ii) the Canadian Inventory Cap; minus 

(e) Priority Payables; 

provided that (x) the Canadian Borrowing Base shall be determined on the basis of the most current Canadian Borrowing Base
Certificate required or permitted to be submitted hereunder, and (y) any reserves or other adjustments established by the Canadian Agent or the Majority Canadian Revolving Credit Lenders on the basis of any subsequent collateral audits
conducted hereunder, all in accordance with ordinary and customary asset-based lending standards, as reasonably determined by the Canadian Agent and the Majority Canadian Revolving Credit Lenders. For greater certainty, Canadian Borrowing Base
Obligors’ Eligible Accounts and Eligible Inventory shall not include inventory financed pursuant to the Specialized Equipment Export Facility and accounts derived therefrom and provided, further such inventory financed by the Specialized
Equipment Export Facility and accounts derived therefrom shall be detailed in a schedule to the Canadian Borrowing Base Certificate. 

“Canadian Inventory Cap” shall mean CDN$9,000,000 from the Fifth Amendment Effective Date and thereafter. 

“Canadian WIP Cap” shall mean CDN$3,000,000 from the Fifth Amendment Effective Date and thereafter. 

  
 - 2 - 

 “US Borrowing Base” shall mean, as of any date of determination
thereof, an amount equal to the sum of: 
 (a) eighty-five percent (85%) of US Borrowing Base Obligors’ Eligible
Accounts, plus 
 (b) lesser of (i) eighty-five percent (85%) of US Borrowing Base Obligors’ Eligible Bill and
Hold Receivables, and (ii) US$10,000,000, plus 
 (c) the lesser of (i) fifty percent (50%) of US Borrowing
Base Obligors’ Eligible Inventory, or (ii) US$26,500,000, plus 
 (d) the lesser of (i) 80% of the cost of
Eligible Used Equipment Amount to be used for resale or rent, or (ii) US$2,000,000 in the aggregate for the term of the US Revolving Credit, 

provided that (x) the US Borrowing Base shall be determined on the basis of the most current US Borrowing Base Certificate required or
permitted to be submitted hereunder, and (y) the amount determined as the US Borrowing Base shall be subject to, without duplication, any reserves for contras/offsets, drop ship receivables, inventory-in-transit, potential offsets due to
customer deposits, discount arrangements, chargebacks, disputed accounts (or potential chargebacks or disputed accounts), and such other reserves as reasonably established by the US Agent, at the direction or with the concurrence of the Majority US
Revolving Lenders from time to time, including, without limitation any reserves or other adjustments established by the US Agent or the Majority US Revolving Credit Lenders on the basis of any subsequent collateral audits conducted hereunder, all in
accordance with ordinary and customary asset-based lending standards, as reasonably determined by the US Agent and the Majority US Revolving Credit Lenders. 

(c) Section 2.12 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“2.12 Use of Proceeds of Advances. Advances of the US Revolving Credit shall be used to (i) finance a portion
of the ASV Equity Investment up to the maximum amount of US$5,000,000, and (ii) the US Borrowers’ working capital and such other lawful corporate purposes.” 

(d) Paragraph (h) of Section 8.1 (Limitation on Debt) of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “(h) the unsecured debt of Parent to Terex Corporation in the aggregate amount of US$1,4000,000 evidenced by a promissory
note dated on or about December 19, 2014, and additional unsecured Debt not otherwise described in paragraphs (a) through (g) above, provided that both at the time of and immediately after giving effect to the incurrence thereof
(i) no Default or Event of Default shall have occurred and be continuing or result therefrom and (ii) the aggregate amount of all such Debt shall not exceed US$500,000, or the Equivalent Amount in Canadian Dollars at any one time
outstanding;” 
 (e) Section 8.1 (Limitation on Debt) of the Credit Agreement is hereby amended by deleting the “.” at
end of paragraph (i) and replacing it with “; and” and the following paragraph (j) is hereby added to Section 8.1: 

  
 - 3 - 

 “(j) Debt owing from Parent to Terex Corporation pursuant to an unsecured
convertible debenture in the maximum amount of US$7,500,000 to finance a portion of the purchase price of the ASV Joint Venture.” 

(f) Section 8.5 (Restricted Payments) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“8.5 Restricted Payments. Declare or make any distributions, dividend, payment or other distribution of assets,
properties, cash, rights, obligations or securities (collectively, “Distributions”) on account of any of its Equity Interests, as applicable, or purchase, redeem or otherwise acquire for value any of its Equity Interests, as applicable, or
any warrants, rights or options to acquire any of its Equity Interests, now or hereafter outstanding (collectively, “Purchases”), except that: 

(a) each Credit Party may pay cash Distributions to any Borrower; 

(b) US Borrower may issue Equity Interests, warrants and/or options in satisfaction of the convertible debenture issued by
Parent pursuant to the ASV Joint Venture; and 
 (c) each Credit Party may declare and make Distributions payable in the
Equity Interests of such Credit Party, provided that the issuance of such Equity Interests does not otherwise violate the terms of this Agreement and no Default or Event of Default has occurred and is continuing at the time of making such
Distribution or would result from the making of such Distribution.” 
 (g) Section 8.7 (Limitation on Investments, Loans and
Advances) of the Credit Agreement is hereby amended by deleting the “.” at end of paragraph (i) and replacing it with “; and” and the following paragraph (j) is hereby added to Section 8.7: 

“(j) the ASV Joint Venture.” 

(h) Following the completion of the ASV Joint Venture, A.S.V. Inc. (“ASV”) shall be a Subsidiary of Parent. Notwithstanding anything
to the contrary provided in the Credit Agreement, ASV shall be an Unrestricted Subsidiary and as such shall not be included as a Subsidiary for the purposes of the financial covenants, negative covenants or affirmative covenants, save and except to
the extent included in the financial reporting of Parent as provided in Section 7.1 of the Credit Agreement. 
 (i) Paragraph
(b) of Section 10.4 of the Credit Agreement is hereby amended to correct a scriveners error in section references, changing the reference to “Section 13.10” to “Section 13.11”. 

(j) Annex II (Percentage and Allocation) to the Credit Agreement is hereby deleted and replaced in its entirety with Annex II attached hereto.

 (k) Schedule 1.1 (Compliance Information) to the Credit Agreement is hereby deleted and replaced in its entirety with Schedule 1.1
attached hereto. 
 (l) Schedule 5.1(b) (Jurisdictions in which Credit Parties Do Business) to the Credit Agreement is hereby deleted and
replaced in its entirety with Schedule 5.1(b) attached hereto. 
 (m) Schedule 6.18 (Subsidiaries) to the Credit Agreement is hereby deleted
and replaced in its entirety with Schedule 6.18 attached hereto. 

  
 - 4 - 

 (n) Schedule 6.20 (Capital Structure) to the Credit Agreement is hereby deleted and replaced in
its entirety with Schedule 6.20 attached hereto. 
 3. Covenant. The Borrowers hereby covenant and agree to reimburse Agents for
inventory appraisals on the US Borrowing Base Obligors and Canadian Borrower (excluding holding companies) with appraisal companies satisfactory to Agent, which appraisals are to be ordered within 15 Business Days of the Fifth Amendment Effective
Date. 
 4. Consent. Agents and the Majority Lenders hereby confirm, that notwithstanding Section 8.1 (Limitation on Debt),
Section 8.5 (Restricted Payments) or Section 8.7 (Limitation on Investments) of the Credit Agreement, the Majority Lenders consent to the ASV Joint Venture. This consent is not a waiver of or consent to any other event, condition,
transaction, act or omission whether related or unrelated to the ASV Joint Venture which would otherwise be a violation of the terms and conditions of the Credit Agreement. 

5. Representations and Warranties. The Borrowers represent, warrant, and agree that: 

(a) Except as expressly modified in this Amendment, the representations, warranties, and covenants set forth in the Credit Agreement and in
each related document, agreement, and instrument remain true and correct, continue to be satisfied in all respects, and are legal, valid and binding obligations with the same force and effect as if entirely restated in this Amendment, other than
those representations and warranties that expressly relate solely to a specific earlier date, which shall remain correct as of such earlier date. 

(b) When executed, the Agreement, as amended by this Amendment will continue to constitute a duly authorized, legal, valid, and binding
obligation of the Borrowers enforceable in accordance with its terms. The Credit Agreement, as amended, along with each related document, agreement and instrument, is ratified and confirmed and shall remain in full force and effect and the Credit
Parties further represent and warrant that they have taken all actions necessary to authorize the execution and performance of such documents. 

(c) There is no Default or Event of Default existing under the Credit Agreement, or any related document, agreement, or instrument, and no
event has occurred or condition exists that is or, with the giving of notice or lapse of time or both, would be such a default. 
 (d) As
applicable to each such Credit Party, the articles of incorporation, articles of formation, articles of amalgamation, bylaws, operating agreements and resolutions and incumbency certificates of the Borrowers and the Guarantors delivered to US Agent
and Canadian Agent in connection with the Credit Agreement on or about August 19, 2013, have not been repealed, amended or modified since the date of delivery thereof and that same remain in full force and effect. 

6. Successors and Assigns. This Amendment shall inure to the benefit of and be binding upon the parties and their respective successors
and assigns. 
 7. Governing Law. The parties agree that the terms and provisions of this Amendment shall be governed by and
construed in accordance with the laws of the State of Michigan without regard to principles of conflicts of law. 
 8. No Defenses.
The Credit Parties acknowledge, confirm, and warrant to US Agent, Canadian Agent and the Lenders that as of the date hereof the Credit Parties have absolutely no defenses, claims, rights of set-off, or counterclaims against US Agent, Canadian Agent
and the Lenders under, arising out of, or in connection with, this Amendment, the Credit Agreement, the Loan Documents and/or the individual advances under the Obligations, or against any of the indebtedness evidenced or secured thereby. 

  
 - 5 - 

 9. Ratification. Except for the modifications under this Amendment, the parties ratify and
confirm the Credit Agreement and the Loan Documents and agree that they remain in full force and effect. 
 10. Further Modification; No
Reliance. This Amendment may be altered or modified only by written instrument duly executed by the Credit Parties and the Lenders. In executing this Amendment, the Credit Parties are not relying on any promise or commitment of US Agent,
Canadian Agent and/or the Lenders that is not in writing signed by the applicable Agent and/or the Lenders. 
 11. Acknowledgment and
Consent of Guarantors. Each of the US Credit Parties has guaranteed the payment and performance of the Obligations by Borrowers pursuant to Guaranty dated August 19, 2013 (the “Guaranty”) and with respect to North American
Distribution, Inc. and North American Equipment, Inc. by way of joinder dated as of even date herewith (“Joinder Agreement”). Each of the Guarantors, by signing below, acknowledges and consents to the execution, delivery and performance of
this Amendment, and agrees that the Guaranty and Joinder Agreement, as applicable, remains in full force and effect. Each of the Guarantors further represents that it is in compliance with all of the terms and conditions of its Guaranty or as
applicable its Joinder Agreement. 
 12. Expenses. Borrowers shall promptly pay all out-of-pocket fees, costs, charges, expenses, and
disbursements of US Agent, Canadian Agent and the Lenders incurred in connection with the preparation, execution, and delivery of this Amendment, and the other documents contemplated by this Amendment. 

13. Effectiveness and Counterparts. This Amendment may be executed in as many counterparts as US Agent, Canadian Agent, the Lenders and
the Borrowers deem convenient, and shall become effective upon delivery to US Agent and Canadian Agent of: (i) all executed counterparts hereof from the Lenders and from Borrowers and each of the Guarantors; (ii) the documents listed on
the Closing Checklist attached hereto as Exhibit A; and (iii) any other documents or items which US Agent or Canadian Agent may require to carry out the terms hereof. 

[Signature Pages Follow] 

  
 - 6 - 

 This Amendment No. 5 to Credit Agreement is executed and delivered on the Fifth Amendment
Effective Date. 
  

			
	COMERICA BANK, as US Agent
		
	By:	 	 /s/ James Q. Goudie, III

		 	James Q. Goudie, III
	Its:	 	Vice President

  

			
	COMERICA BANK, as US Lender, as US Issuing Lender, and as US Swing Line Lender
		
	By:	 	 /s/ James Q. Goudie, III

		 	James Q. Goudie, III
	Its:	 	Vice President

  

			
	COMERICA BANK, as Canadian Agent
		
	By:	 	 /s/ Prashant Prakash

		 	Prashant Prakash
	Its:	 	Portfolio Risk Manager

  

			
	COMERICA BANK, as Canadian Lender, as Canadian Issuing Lender, and as Canadian Swing Line Lender
		
	By:	 	 /s/ Prashant Prakash

		 	Prashant Prakash
	Its:	 	Portfolio Risk Manager

  
 - 7 - 

 [Signature Page – US Lender] 

 

			
	FIFTH THIRD BANK, as US Lender
		
	By:	 	 /s/ Matthew Berman

		 	Matthew Berman
	Its:	 	Assistant Vice President

  
 - 8 - 

 [Signature Page US Borrowers] 

 

			
	MANITEX INTERNATIONAL, INC.
		
	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke
	Its:	 	President

  

			
	MANITEX, INC.
		
	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke
	Its:	 	President

  

			
	MANITEX SABRE, INC.
		
	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke
	Its:	 	Vice President

  

			
	BADGER EQUIPMENT COMPANY
		
	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke
	Its:	 	Vice President

  

			
	MANITEX LOAD KING, INC.
		
	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke
	Its:	 	Vice President

  
 - 9 - 

 [Signature Page Canadian Borrower] 

 

			
	MANITEX LIFTKING, ULC
		
	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke
	Its:	 	Vice President

  
 - 10 - 

 [Signature Page US Guarantors] 

 

									
	GUARANTORS:	 		 		 	
			
	MANITEX INTERNATIONAL, INC.	 		 	MANITEX, INC.
					
	By:	 	 /s/ Andrew M. Rooke
	 		 	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke	 		 		 	Andrew M. Rooke
	Its:	 	President	 		 	Its:	 	President
			
	MANITEX SABRE, INC.	 		 	BADGER EQUIPMENT COMPANY
					
	By:	 	 /s/ Andrew M. Rooke
	 		 	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke	 		 		 	Andrew M. Rooke
	Its:	 	Vice President	 		 	Its:	 	Vice President
			
	MANITEX LOAD KING, INC.	 		 	LIFTKING, INC.
					
	By:	 	 /s/ Andrew M. Rooke
	 		 	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke	 		 		 	Andrew M. Rooke
	Its:	 	Vice President	 		 	Its:	 	President
			
	MANITEX, LLC	 		 	NORTH AMERICAN EQUIPMENT, INC.
					
	By:	 	 /s/ Andrew M. Rooke
	 		 	By:	 	 /s/ Andrew M. Rooke

		 	Andrew M. Rooke	 		 		 	Andrew M. Rooke
	Its:	 	Vice President	 		 	Its:	 	Vice President
			
	NORTH AMERICAN DISTRIBUTION, INC.	 		 	
					
	By:	 	 /s/ Andrew M. Rooke
	 		 		 	
		 	Andrew M. Rooke	 		 		 	
	Its:	 	Vice President	 		 		 	

  
 - 11 - 

 ANNEX II 

PERCENTAGES AND ALLOCATIONS 

REVOLVING CREDIT FACILITIES 
  

																									
	 Lenders
	  	US
Revolving
Credit
Percentage	 	 	US Revolving
Credit
Allocations	 	  	Canadian
Revolving
Credit
Percentage	 	 	Canadian
Revolving
Credit
Allocations	 	  	Total
Allocations	 	  	Weighted
Percentage	 
	 Comerica Bank
	  	 	75	% 	 	US$	30,000,000.00	  	  	 	100	% 	 	US$	9,000,000.00	  	  	US$	39,000,000.00	  	  	 	79.59	% 
	 Fifth Third Bank
	  	 	25	% 	 	US$	10,000,000.00	  	  	 	0.0	% 	 	 	US$0.00	  	  	US$	10,000,000.00	  	  	 	20.41	% 
	 TOTALS
	  	 	100	% 	 	US$	40,000,000.00	  	  	 	100	% 	 	US$	9,000,000.00	  	  	US$	49,000,000.00	  	  	 	100	% 

  
 - 12 - 

 Schedule 1.1 

Compliance Information 
  

									
	 Correct Legal
Name
	  	Address	  	Type of
Organization	  	Jurisdiction
of
Organization	  	 Tax identification number
and other
identification
numbers

	Manitex International, Inc.	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Michigan	  	 Tax: 
  

Organizational: 

					
	Manitex, Inc.	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Texas	  	 Tax: 
  

Organizational: 

					
	Manitex Sabre, Inc.	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Michigan	  	 Tax: 
  

Organizational: 

					
	Badger Equipment Company	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Minnesota	  	 Tax: 
  

Organizational: 

					
	Manitex Load King, Inc.	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Michigan	  	 Tax: 
  

Organizational: 

					
	Manitex Liftking, ULC	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Unlimited
Liability
Company	  	Alberta	  	Organizational: 
					
	Liftking, Inc.	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Michigan	  	 Tax: 
  

Organizational: 

					
	Manitex, LLC	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Limited
Liability
Company	  	Delaware	  	 Tax: 
  

Organizational: 

					
	North American Equipment, Inc.	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Illinois	  	 Tax: 
  

Organizational: 

					
	North American Distribution, Inc.	  	9725 Industrial
Drive Bridgeview,
Illinois 60455	  	Corporation	  	Illinois	  	 Tax: 
  

Organizational: 

  
 - 13 - 

 Schedule 5.1(b) 

Jurisdictions in Which Credit Parties Do Business 
  

			
	 Credit Party
	  	Jurisdiction
	 Manitex International, Inc.
	  	Michigan, Illinois
	 Manitex, Inc.
	  	Texas, Louisiana
	 Manitex Sabre, Inc.
	  	Michigan
	 Badger Equipment Company
	  	Minnesota
	 Manitex Load King, Inc.
	  	Michigan, Louisiana and South
Dakota
	 Liftking, Inc.
	  	Michigan
	 Manitex, LLC
	  	Delaware
	 North American Equipment, Inc.
	  	Illinois
	 North American Distribution, Inc.
	  	Illinois

  
 - 14 - 

 SCHEDULE 6.18 

RESTRICTED SUBSIDIARIES 
  

			
	 Credit Party
	  	 Restricted Subsidiaries

		
	Manitex International, Inc.	  	 Manitex Load King, Inc.
  

Manitex Sabre, Inc.
  

Badger Equipment Company
  

Quantum Value Management
  

CVS Farrari S.R.L.
  

Liftking, Inc.
  

Manitex, LLC
  

North American Equipment, Inc.
  

North American Distribution, Inc.

		
	Manitex, Inc.	  	None
		
	Manitex Sabre, Inc.	  	None
		
	Badger Equipment Company	  	None
		
	Manitex Load King, Inc.	  	None
		
	Manitex Liftking, ULC	  	None
		
	Liftking, Inc.	  	Manitex Liftking, ULC
		
	Manitex, LLC	  	Manitex, Inc.
		
	North American Equipment, Inc.	  	None
		
	North American Distribution, Inc.	  	None

  

			
	 Credit Party
	  	 Unrestricted Subsidiaries

		
	Manitex International, Inc.	  	A.S.V. Inc.

  
 - 15 - 

 Schedule 6.20 

Capital Structure 
  

							
	 Credit Party
	  	 Authorized
Capital
(including par value)
	  	 Issued Capital
	  	 Registered
Holder(s)

				
	 Manitex International, Inc.
  

(As of August 5, 2013)
	  		  		  	
				
	Preferred	  	150,000 (No par)	  	0	  	Not applicable
				
	Common	  	20,000,000 (No par)	  	12,295,879	  	Public traded
				
	Manitex, Inc.	  	1,000 (No par)	  	1,000	  	Manitex, LLC
				
	Manitex Sabre, Inc.	  	1,000 (No par)	  	100	  	Manitex International, Inc.
				
	Badger Equipment Company	  	1,000 (No par)	  	1,000	  	Manitex International, Inc.
				
	Manitex Load King, Inc.	  	1,000 (No par)	  	100	  	Manitex International, Inc.
				
	Manitex Liftking, ULC	  	N/A	  	N/A	  	Liftking, Inc.
				
	Liftking, Inc.	  	60,000 (0.001 Par)	  	5,000	  	Manitex International, Inc.
				
	Manitex, LLC	  	N/A	  	N/A	  	Manitex International, Inc.
				
	North American Equipment, Inc.	  	1,000 (No par)	  	100	  	Manitex International, Inc.
				
	North American Distribution, Inc.	  	1,000 (No par)	  	100	  	Manitex International, Inc.

  
 - 16 - 

 EXHIBIT “A” 

[ATTACH CLOSING CHECKLIST] 

DOCUMENTATION CHECKLIST 
  

			
	 US Borrowers:
	    	 Manitex International, Inc., a Michigan corporation

Manitex, Inc. a Texas corporation
 Manitex Sabre, Inc., a Michigan
corporation
 Badger Equipment Company, a Minnesota corporation

Manitex Load King, Inc., a Michigan corporation

		
	 Canadian Borrower:
	    	Manitex Liftking, ULC, an Alberta corporation
		
	 Agent:
	    	 Comerica Bank, as US Agent for all Lenders

Comerica Bank, as Canadian Agent for all Canadian Lenders

		
	 Guarantors:
	    	 Liftking, Inc. (with respect to debt of US Borrowers and Canadian Borrower)

Manitex, LLC (with respect to debt of Canadian Borrower)
 All US
Borrowers (with respect to debt of Canadian Borrower)
 North American Distribution, Inc. (New – add by Joinder) (“Distribution”)

North American Equipment, Inc. (New – add by Joinder) (“Equipment”)

		
	 Subordinate Creditor:
	    	Terex Corporation
		
	 Transaction:
	    	Amendment No. 5 and Add new guarantors
		
	 Closing Date:
	    	December 19, 2014

  
  

	I.	LOAN DOCUMENTATION 

  

	 	A.	Loan Documents 

  

	 	1.	Amendment No. 5 to Credit Agreement 

  

	 	2.	Closing Certificate 

  

	 	B.	Guaranties / Collateral Instruments/Agreements 

  

	 	3.	Subordination Agreement 

  

	 	4.	Joinder Agreement (Guaranty) – North American Equipment, Inc. 

  

	 	5.	Joinder Agreement (Security Agreement) – North American Equipment, Inc. 

  

	 	6.	Joinder Agreement (Guaranty) – North American Distribution, Inc. 

  
 - 17 - 

	 	7.	Joinder Agreement (Security Agreement) – North American Distribution, Inc. 

  

	 	8.	UCC-1 Financing Statement 

  

	 	(a)	North American Distribution, Inc. 

  

	 	(b)	North American Equipment, Inc. 

  

	 	9.	Assignment separate from Stock in Blank 

  

	 	(a)	North American Distribution, Inc. 

  

	 	(b)	North American Equipment, Inc. 

  

	 	10.	Original Stock Certificates to be delivered to Agent 

  

	 	(a)	North American Distribution, Inc. 

  

	 	(b)	North American Equipment, Inc. 

  

	II.	DUE DILIGENCE DOCUMENTATION 

  

	 	11.	UCC and Tax Lien Search 

  

	 	(a)	Manitex International, Inc. (Michigan) 

  

	 	(b)	Manitex, Inc. (Texas) 

  

	 	(c)	Manitex Sabre, Inc. (Michigan) 

  

	 	(d)	Badger Equipment Company (Minnesota) 

  

	 	(e)	Manitex Load King, Inc. (Michigan) 

  

	 	(f)	Liftking, Inc. (Michigan) 

  

	 	(g)	Manitex, LLC (Delaware) 

  

	 	(h)	North American Distribution, Inc. (Illinois) 

  

	 	(i)	North American Equipment, Inc. Illinois) 

  

	 	12.	Certificates of Insurance listing all credit parties adding the following: 

  

	 	(a)	Distribution 

  

	 	(b)	Equipment 

  

	 	13.	W-9’s for Distribution and Equipment 

  
 - 18 - 

	III.	ORGANIZATION DOCUMENTATION 

  

	 	A.	NORTH AMERICAN DISTRIBUTION, INC., an Illinois corporation 

	 	 	NORTH AMERICAN EQUIPMENT, INC., an Illinois corporation 

  

	 	14.	Omnibus Certificate of Secretary 

  

	 	(a)	Exhibit A-1 Articles of Incorporation – North American Equipment, Inc. 

  

	 	(b)	Exhibit A-2 Articles of Incorporation – North America Distribution, Inc. 

  

	 	(c)	Exhibit B-1 Bylaws – North American Equipment, Inc. 

  

	 	(d)	Exhibit B-2 Bylaws – North American Distribution, Inc. 

  

	 	(e)	Exhibit C-1 Resolutions – North American Equipment, Inc. 

  

	 	(f)	Exhibit C-2 Resolutions – North American Distribution, Inc. 

  

	 	15.	Certificate of Good Standing (IL) – North American Distribution, Inc., an Illinois corporation 

  

	 	16.	Certificate of Good Standing (IL) – North American Equipment, Inc., an Illinois corporation 

  
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