Document:

EX-10.18

 Exhibit 10.18* 

ESTERLINE TECHNOLOGIES CORPORATION 

2013 EQUITY INCENTIVE PLAN 

GLOBAL RESTRICTED STOCK UNIT AWARD NOTICE 

Esterline Technologies Corporation (the “Company”) hereby grants to Participant a Restricted Stock Unit Award (the
“Award”). The Award is subject to all the terms and conditions set forth in this Global Restricted Stock Unit Award Notice (the “Award Notice”), in the Global Restricted Stock Unit Award Agreement, including any applicable
country-specific provisions in the Appendix thereto (together, the “Agreement”), and in the Esterline Technologies Corporation 2013 Equity Incentive Plan (the “Plan”), which are incorporated into this Award Notice in their
entirety. 
  

					
	 Participant:
	  	Curtis Reusser	  	
			
	 Grant Date:
	  	October 28, 2013	  	
			
	 Number of Restricted Stock Units

Subject to the Award (the “Units”):
	  	52,750	  	
		
	 Vesting Schedule:
	  	 1/3 of the Units will vest on October 28, 2014;

1/3 will vest on October 28, 2015; and 1/3 will
 vest on
October 28, 2016.

 Award Terms, Acknowledgement, & Agreement:  Participant acknowledges that he or she has received
this Award Notice, the Agreement, the Plan Summary, and the Plan, which together constitute the “Award Terms and Conditions.” Participant has carefully read those documents and understands them. Participant accepts the Award Terms and
Conditions as the entire understanding between Participant and the Company regarding the Award, and further agrees that these Award Terms and Conditions supersede all prior oral and written agreements on the subject. 

 

							
	 ESTERLINE TECHNOLOGIES
 CORPORATION

 
 By: /s/ ROBERT D. GEORGE
	 		 		  	 PARTICIPANT
  

/s/ CURTIS REUSSER

	 Its: Chief Financial Officer
	 		 		  	Curtis Reusser
		 		 		  	Taxpayer ID:                                   
                                         
                        
		 		 		  	Address:                                    
                                         
                              
				
		 		 		  	                                     
                                         
                                         
   

 Attachments: 
 1. Global
Restricted Stock Unit Award Agreement 
 2. 2013 Equity Incentive Plan Summary 

  

			
	 

  

 ESTERLINE TECHNOLOGIES CORPORATION 

2013 EQUITY INCENTIVE PLAN 

GLOBAL RESTRICTED STOCK UNIT AWARD AGREEMENT 

Esterline Officers Only 

Pursuant to your Global Restricted Stock Unit Award Notice (the “Award Notice”) and this Global Restricted Stock Unit Award
Agreement, including any applicable country-specific provisions in the Appendix hereto (together, this “Agreement”), Esterline Technologies Corporation (the “Company”) has granted you a Restricted Stock Unit Award (the
“Award”) under its 2013 Equity Incentive Plan (the “Plan”), for the number of Restricted Stock Units indicated in your Award Notice.1 

The details of the Award are as follows: 
  

	1.	Definitions 

 1.1      “Cause” –
(a) Your willful and continued failure to substantially perform your duties and obligations to the Company (other than any such failure resulting from illness, sickness, or physical or mental incapacity); or (b) your willful misconduct
that is significantly injurious to the Company, monetarily or otherwise. For purposes of this definition, no act, or failure to act, on your part shall be considered “willful” unless done, or omitted to be done, by you in bad faith and
without reasonable belief that your action or omission was in the best interests of the Company. Your Termination of Service shall not be deemed to be “with Cause” unless the Company provides you written notice of the Cause within 90 days
of its occurrence and allowed you Company a 30-day opportunity after such notice to respond and/or to cure such conduct or omission, if reasonably feasible. 

1.2      “Good Reason” – (a) A material diminution in your authority, duties or
responsibilities, including, for example, assignment of duties inconsistent with, or the reduction of powers or functions associated with, your positions, duties, responsibilities and status with the Company immediately prior to the Grant Date, or
your removal from, or any failure to re-elect you to any material positions or offices you held immediately prior to the Grant Date, except in connection with your Termination of Service by the Company for Cause, or a material negative change in the
Service relationship such as the failure to maintain a working environment conducive to the performance of your duties or the effective exercise of the powers or functions associated with your position, responsibilities and status with Company
immediately prior to the Grant Date; or 
  
  

1 Capitalized terms not explicitly defined in this Agreement but defined in the Plan shall
have the same definitions as in the Plan. On any issues of interpretation arising from these Award Terms and Conditions and/or Plan definitions, the Committee’s decisions will be final and binding. 

  

			
	 

  

 (b) Reduction in the value of your total annual structural compensation of 10% or more –
whether delivered as direct, indirect, or fringe benefit compensation; or 
 (c) Your transfer by the Company to another geographic
location, without your consent, outside a twenty (20) mile radius from the location of your office on the Grant Date, except for required travel on the Company’s business to an extent substantially consistent with your business travel
obligations prior to the Grant Date; or 
 (d) Failure by the Company to obtain an assumption of its obligations under this Agreement by
any successor. 
 Your Termination of Service shall not be deemed to be “with Good Reason” unless you have provided notice to the
Company of the Good Reason conduct or event within 90 days of its occurrence and allowed the Company a 30-day opportunity after such notice to cure such conduct or event. 

1.3      “RSUs” – Restricted Stock Units, which are rights awarded by the Company to
Participants to receive shares of Company stock, subject to the Award Terms and Conditions. One share of Common Stock will be issuable for each RSU that vests. 

1.4      “Units” – Unvested and Vested RSUs, collectively. 

1.5       “Unvested Units” – RSUs that have not vested and remain subject to forfeiture
under the Vesting Schedule. 
 1.6      “Vested Units” – RSUs that have vested and are
no longer subject to forfeiture according to the Vesting Schedule. 
 1.7      “Vesting
Schedule” – The vesting schedule set forth in the Award Notice. 
 1.8      “Full
Retirement” – A voluntary Termination of Service when you are age 65 or older that is a bona fide end to your career in the industries and markets within which the Company does business. 

 

	2.	Vesting 

 The Award will vest according to the Vesting Schedule. As soon as practicable,
but in any event within 60 days, after Unvested Units become Vested Units, the Company will settle the Vested Units by issuing to you one share of Common Stock for each Vested Unit; provided, however, that the Award will terminate and the Unvested
Units could be forfeited upon your Termination of Service as set forth in Section 3. 

  

	
	 

  

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	3.	Termination of Service 

 Upon your Termination of Service for any reason, the Award will
immediately terminate and all Unvested Units shall immediately be forfeited without payment of any further consideration to you; provided, however, that certain Unvested Units shall become Vested Units, in whole or in part, if one or more of the
following exceptions applies: 
 3.1  Upon Termination of Service without Cause or with Good Reason, Unvested Units due to
vest on the next following December 15th shall become Vested Units immediately on your last day of Service. All other such Unvested Units, if any, shall be forfeited under the general rule
stated above. 
 3.2  Upon Termination of Service by reason of Full Retirement, the Committee in its sole discretion may
provide that all Unvested Units shall become Vested Units upon such Termination of Service. 
 The Committee shall decide any questions
concerning the interpretation and application of this section 3 in its sole discretion. Notwithstanding the provisions in this Section 3, if the Company or your employer develops a good faith belief that any provision in this
Section 3 may be found to be unlawful, discriminatory or against public policy in any relevant jurisdiction, then the Company in its sole discretion may choose not to apply such provision. 

 

	4.	Securities Law Compliance 

 The Company intends to maintain registration of the shares
of Common Stock that you receive pursuant to settlement of this Award (the “Shares”) with the U.S. Securities and Exchange Commission under the Securities Act or any other applicable securities act (the “Acts”) in order to
facilitate your ability to resell the Shares. However, circumstances may arise that result in the loss of registration of the Shares, which means that your ability to resell the Shares would be more limited. You understand that the Company has no
obligation to you to maintain any registration of the Shares with the U.S. Securities and Exchange Commission and has not represented to you that it will so maintain registration of the Shares. In addition, to help ensure compliance with the Acts:

 4.1      You represent and warrant that you: (a) have been furnished with a copy of the Plan
Summary and all information that you deem necessary to evaluate the merits and risks of receipt of the Award; (b) have had the opportunity to ask questions and receive answers concerning the information received about the Award and the Company;
and (c) have been given the opportunity to obtain any additional information you deem necessary to verify the accuracy and meaning of any information obtained concerning the Award and the Company. 

4.2      You hereby agree that in no event will you sell or distribute all or any part of the Shares,
unless: (a) there is an effective registration statement under the Securities Act and any applicable local, state or foreign securities laws covering any such transaction involving the Shares; or (b) the Company receives an opinion
of your legal counsel (concurred in by legal counsel for the Company) stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration. 

  

	
	 

  

	Page 3

 4.3      You confirm that you have been advised, prior to
your receipt of the Shares, that neither the offering of the Shares nor any offering materials have been reviewed by any administrator under the Acts. 

4.4      You hereby agree to indemnify the Company and hold it harmless from and against any loss, claim
or liability, including attorneys’ fees or legal expenses, incurred by the Company as a result of any breach by you of, or any inaccuracy in, any representation, warranty or statement made by you in this Agreement or the breach by you of any
terms or conditions of this Agreement. 
  

	5.	Transfer Restrictions 

 Units shall not be sold, transferred, assigned, encumbered,
pledged or otherwise disposed of, whether voluntarily or by operation of law. 
  

	6.	No Rights as Stockholder 

 You shall not have voting or other rights as a stockholder of
the Company with respect to the Units. 
  

	7.	Independent Tax Advice 

 The Company hereby advises you that determining the actual tax
consequences to you of receiving or disposing of the Units and Shares may be complicated. These tax consequences will depend, in part, on your specific situation and may also depend on the resolution of currently uncertain tax law and other
variables not within the control of the Company. The Company strongly recommends that you consult with a competent tax advisor independent of the Company prior to signing the Award Notice. By signing the Award Notice, you acknowledge receipt
of this advice and agree that you have had the opportunity to consult with such a tax advisor. 
  

	8.	Book Entry Registration of the Shares 

 The Company will issue the Shares by registering
the Shares in book entry form with the Company’s transfer agent in your name and applicable securities law or trading restrictions, if any, with respect to the Shares will be noted in the records of the Company’s transfer agent and in the
book entry system. 
  

	9.	Responsibility for Taxes 

 You acknowledge that, regardless of any action taken by the
Company or, if different, your employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to your participation in the
Plan and legally applicable to you (“Tax-Related Items”), is and remains 

  

	
	 

  

	Page 4

 
your responsibility and may exceed the amount actually withheld by the Company or the Employer. You further acknowledge that the Company and/or the Employer (1) make no representations or
undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Units, including, but not limited to, the grant, vesting or settlement of the Units, the subsequent sale of shares of Common Stock acquired pursuant
to such settlement; and (2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Award to reduce or eliminate your liability for Tax-Related Items or achieve any particular tax result. Further,
if you are subject to Tax-Related Items in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, you acknowledge that the Company and/or the Employer (or former employer, as
applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 
 Prior to any relevant taxable or
tax withholding event, as applicable, you agree to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. 

In this regard, you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations
with regard to all Tax-Related Items by one or a combination of the following: (i) withholding from your wages or other cash compensation paid to you by the Company and/or the Employer; (ii) withholding from proceeds from the sale of
Shares acquired upon settlement either through a voluntary sale or through a mandatory sale (which the Company may either arrange on your behalf pursuant to this authorization without further consent or may require you to enter into a trading plan
that complies with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act with a brokerage firm acceptable to the Company for this purpose); or (iii) withholding in Shares to be issued upon settlement. Notwithstanding the foregoing,
if you are a Section 16 officer of the Company, you agree and acknowledge that the Company or its agent are authorized to satisfy the obligations with regard to all Tax-Related Items by withholding in Shares to be issued upon settlement, unless
the Committee determines in its discretion to satisfy the obligations for all Tax-Related Items by one or a combination of (i), (ii) and (iii) above. 

Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory
withholding rates or other applicable withholding rates. If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, you are deemed to have been issued the full number of Shares subject to the Vested Units,
notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items. 
 Finally, you agree to
pay to the Company or the Employer, as applicable, any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of your participation in the Plan that cannot be satisfied by the means
previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if you fail to comply with your obligations in connection with the Tax-Related Items. 

  

	
	 

  

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	10.	Nature of Grant 

 In accepting the Award, you acknowledge, understand and agree that:

 10.1    the Plan is established voluntarily by the Company, it is discretionary in nature and it may be
modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan; 

10.2    the grant of the Award is voluntary and occasional and does not create any contractual or other right to
receive future grants, or benefits in lieu of awards, even if awards have been granted in the past; 

10.3    all decisions with respect to future awards or other grants, if any, will be at the sole discretion of the
Company; 
 10.4    the grant of the Award and your participation in the Plan shall not create a right to
employment or be interpreted as forming an employment or service contract with the Company or any Related Company and shall not interfere with the ability of the Employer to terminate your employment or service relationship (if any); 

10.5    you are voluntarily participating in the Plan; 

10.6    the Award and the Shares subject to the Award are not intended to replace any pension rights or
compensation; 
 10.7    the Award and the Shares subject to the Award, and the income and value of same, are not
part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;

 10.8    the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with
certainty; 
 10.9    no claim or entitlement to compensation or damages shall arise from forfeiture of the Units
resulting from your Termination of Service (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any); and 

10.10  the following provision applies only to Participants based outside the United States: you acknowledge and agree that
neither the Company, the Employer nor any Related Company shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of the Award or of any amounts due to you pursuant
to the settlement of the Award or the subsequent sale of any Shares acquired upon settlement. 

  

	
	 

  

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	11.	Data Privacy 

 You hereby explicitly and unambiguously consent to the collection,
use and transfer, in electronic or other form, of your personal data as described in this Agreement and any other Award grant materials by and among, as applicable, the Employer, the Company and any Related Company for the exclusive purpose of
implementing, administering and managing your participation in the Plan. 
 You understand that the Company and the Employer
may hold certain personal information about you, including, but not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock
or directorships held in the Company, details of all Units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in your favor (“Data”), for the exclusive purpose of implementing, administering
and managing the Plan. 
 You understand that Data will be transferred to Morgan Stanley Smith Barney, or such other stock
plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You understand that the recipients of the Data may be located in the United
States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than your country. You understand that if you reside outside the United States, you may request a list with the
names and addresses of any potential recipients of the Data by contacting your local human resources representative. You authorize the Company, Morgan Stanley Smith Barney, and any other possible recipients which may assist the Company (presently or
in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing your participation in the
Plan. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that if you reside outside the United States, you may, at any time, view Data, request
additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative.
Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment status or service and career with the Employer will not be adversely
affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Units or other equity awards or administer or maintain such awards. Therefore, you understand that refusing or
withdrawing your consent may affect your ability to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative.

  

	
	 

  

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	12.	General Provisions 

 12.1    Assignment. The Company may
assign its rights under this Agreement at any time, whether or not such rights are then exercisable, to any person or entity selected by the Company’s Board of Directors. 

12.2    No Waiver. No waiver of any provision of this Agreement will be valid unless in writing and signed by the
person against whom such waiver is sought to be enforced, nor will failure to enforce any right hereunder constitute a continuing waiver of the same or a waiver of any other right hereunder. 

12.3    Imposition of Other Requirements. You hereby agree to take any additional action and execute whatever
additional documents or undertakings the Company may deem necessary or advisable for legal or administrative reasons in connection with your participation in the Plan, the grant of Award, or the acquisition of any Shares. 

12.4    Agreement Is Entire Contract. This Agreement, the Award Notice and the Plan constitute the entire contract
between the parties hereto with regard to the subject matter hereof. This Agreement is made pursuant to the provisions of the Plan and will in all respects be construed in conformity with the express terms and provisions of the Plan. 

12.5    Successors and Assigns. The provisions of this Agreement will inure to the benefit of, and be binding on,
the Company and its successors and assigns and you and your legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person will have become a party to this Agreement and agreed in
writing to join herein and be bound by the terms and conditions hereof. 
 12.6    Section 409A Compliance.
Payments made pursuant to this Agreement and the Plan are intended to qualify for an exception from or to comply with Section 409A. Notwithstanding any other provision in the Plan or this Agreement to the contrary, the Committee reserves the
right, but shall not be required to, unilaterally amend or modify the terms of this Agreement and/or the Plan as it determines necessary or appropriate, in its sole discretion, to avoid the imposition of interest or penalties under
Section 409A; provided, however, that the Company makes no representation that that the Award shall be exempt from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to the Award. 

12.7    Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an
original, but which, upon execution, will constitute one and the same instrument. 
 12.8    Governing Law and
Venue. This Agreement will be construed and administered in accordance with and governed by the laws of the State of Washington without giving effect to principles of conflicts of law. 

For purposes of litigating any dispute that arises under this grant or the Agreement, the parties hereby submit to and consent to the
jurisdictions of the State of Washington, agree 

  

	
	 

  

	Page 8

 
that such litigation shall be conducted in the courts of King County, Washington, or the federal courts for the United States for the Western District of Washington, where this grant is made
and/or to be performed. 
 12.9    Language. If you have received this Agreement or any other documents related
to the Plan translated to a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

12.10  Electronic Delivery and Acceptance. The Company may, in its sole discretion, decide to deliver any documents related
to current or future participation in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an online or electronic system established and maintained by the
Company or a third party designated by the Company. 
 12.11  Severability. The provisions of this Agreement are severable
and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 

12.12  Appendix. Notwithstanding any provisions in this Agreement, the Award shall be subject to any special terms and
conditions set forth in the appendix to this Agreement for your country (the “Appendix”). The Appendix constitutes part of this Agreement. 

12.13  Reimbursement. Plan participation and awards are subject to the Board’s Policy on Reimbursement of Incentive
Awards, as it might change from time to time. 
 12.14  No Right to Damages. Nothing in these Award Terms and Conditions
gives you a right to receive damages for any portion of the Award that you might lose due to Company, Related Company or Committee decisions. The loss of potential profit from the Award will not constitute an element of damages in the event of your
Termination of Service for any reason, even if such Termination of Service violates an obligation of the Company or a Related Company. 

  

			
	 

  

	Page  9

 APPENDIX 

COUNTRY-SPECIFIC TERMS TO THE 

GLOBAL RESTRICTED STOCK UNIT AWARD AGREEMENT 

Terms and Conditions 
 This Appendix to the Global
Restricted Stock Unit Award Agreement (the “Agreement”) includes special terms and conditions applicable to Participants in the countries covered by the Appendix. These terms and conditions are in addition to, or, if so indicated, in place
of, the terms and conditions set forth in the Agreement. 
 Notifications 

This Appendix also includes notifications relating to exchange control and other issues of which you should be aware with respect to your participation in the
Plan. The information is based on the exchange control, securities and other laws in effect in the respective countries as of February 2013. Such laws are often complex and change frequently. As a result, the Company strongly recommends that you not
rely on the notifications herein as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the Award vests or Shares acquired under the Plan are sold. 

In addition, the information contained herein is general in nature and may not apply to your particular situation, and the Company is not in a position to
assure you of any particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your situation. 

Finally, you understand that if you are a citizen or resident of a country other than the one in which you are currently working, transfer employment after
the Grant Date, or are considered a resident of another country for local law purposes, the information contained herein may not apply to you, and the Company shall, in its discretion, determine to what extent the terms and conditions contained
herein shall apply. 
  
  

CANADA 
 Terms and Conditions 

Termination of Service.  This provision supplements Section 3 of the Agreement. 

In the event of Termination of Service (whether or not in breach of local labor laws and whether or not later found to be invalid), your right to receive the
Award and vest under the Plan, if any, will terminate effective as of the date that is the earlier of: (1) the date that you are no longer actively employed by the Company or the employer, or at the discretion of the

  
 

 
 Appendix 

Page 1 

 
Committee, (2) the date the you receive notice of termination of employment from the employer, if earlier than (1), regardless of any notice period or period of pay in lieu of such notice
required under local law (including, but not limited to statutory law, regulatory law and/or common law); the Company shall have the exclusive discretion to determine when you are no longer employed for purposes of the Award. 

The following provisions apply if you are a resident of Quebec: 

French Language Provision.  The parties acknowledge that it is their express wish that the Agreement, as well as all documents, notices and
legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties
reconnaissent avoir exigé la rédaction en anglais de la Convention, ainsi que de tous documents, avis et procédures judiciaires, exécutés, donnés ou intentés en vertu de, ou liés directement ou
indirectement à, la présente convention 
 Data Privacy Notice and Consent.  The following provision supplements
Section 11 of the Agreement: 
 You hereby authorize the Company and the Company’s representatives to discuss with and obtain all relevant
information from all personnel, professional or not, involved in the administration and operation of the Plan. You further authorize the Company or any Related Company and the Administrator to disclose and discuss the Plan with their advisors and to
record such information and to keep such information in your employee file. 
 Notifications 

Securities Law Information.  You are permitted to sell Shares acquired under the Plan through the designated broker appointed under the Plan,
if any, provided the resale of the Shares acquired under the Plan takes place outside of Canada through the facilities of a stock exchange on which the Shares are listed. The Shares are currently listed on the NYSE. 

FRANCE 
 Terms and Conditions 

French Language Provision.  By accepting the Agreement providing for the terms and conditions of your Award, you confirm having read and
understood the documents relating to this Award (the Plan and the Agreement) which were provided in the English language. You accept the terms of those documents accordingly. 

En acceptant le Contrat d’Attribution décrivant les termes et conditions de l’Attribution, le participant confirme ainsi avoir lu et
compris les documents relatifs à cette Attribution (le Plan et le Contrat d’Attribution) qui ont été communiqués en langue anglaise. Le participant accepte les termes en connaissance de cause. 

  
 

 
 Appendix 

Page 2 

 Notifications 

Tax Information.  The Award is not intended to be a French tax-qualified award. 

Exchange Control Information.  If you hold Shares outside of France or maintain a foreign bank account, you are required to report such to
the French tax authorities when filing your annual tax return. 
 GERMANY 

Notifications 
 Exchange Control
Information. Cross-border payments in excess of €12,500 must be reported monthly to the State Central Bank. You will be responsible for obtaining the appropriate form from the bank and complying with the applicable reporting obligations.
 
 UNITED KINGDOM 
 Terms and Conditions

 Responsibility for Taxes.  The following provisions supplement Section 9 of the Agreement: 

You are required to pay to the Company or the Employer, as applicable, any amount of income tax that the Company or the Employer may be required to account to
Her Majesty’s Revenue and Customs (“HMRC”) with respect to the event giving rise to the income tax (the “Taxable Event”) that cannot be satisfied by the means described in Section 9 of the Agreement. If payment or
withholding of the income tax is not made within ninety (90) days of the Taxable Event or such other period as required under U.K. law (the “Due Date”), you agree that the amount of any uncollected income tax shall constitute a loan
owed by you to the Employer, effective on the Due Date. You agree that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time
thereafter by any of the means referred to in Section 9 of the Agreement. If you fail to comply with your obligations in connection with the income tax as described in this section, the Company may refuse to deliver the Shares acquired under
the Plan. 
 Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the
Exchange Act), you will not be eligible for such a loan to cover the income tax due. In the event that you are a director or executive officer and the income tax due is not collected from or paid by you by the Due Date, the amount of any uncollected
income tax will constitute a benefit to you on which additional income tax and National Insurance contributions (“NICs”) will be payable. You will be responsible for reporting and paying any income tax due on this additional benefit
directly to HMRC under the self-assessment regime and for reimbursing the Company or the Employer, as applicable, for the value of any NICs due on this additional benefit. 

  
 

 
 Appendix 

Page 3EX 10.1

 Exhibit 10.1 
  

					
		  	 

  
 December 16, 2013

		
	To:	  	Encore Capital Group, Inc.
		  	3111 Camino Del Rio North, Suite 1300
		  	San Diego, California 92108
		  	Attn:	  	Paul Grinberg, Chief Financial Officer
		  	Telephone:	  	858-309-6904
		  	Facsimile:	  	858-309-6977
		
	From:	  	Deutsche Bank AG, London Branch
		  	Winchester House
		  	1 Great Winchester St, London EC2N 2DB
		  	Telephone:	  	44 20 7545 8000
		
		  	c/o Deutsche Bank Securities Inc.
		  	60 Wall Street
		  	New York, NY 10005
		  	Telephone:	  	212-250-2500
		
	Re:	  	Amendment to Warrant Transactions

 Ladies and Gentlemen: 

This letter agreement (this “Amendment”) amends the letter agreement re: Base Issuer Warrant Transaction, between Deutsche
Bank AG, London Branch (“Dealer”) and Encore Capital Group, Inc. (“Issuer”), dated November 20, 2012 (such letter agreement, the “Base Warrant Confirmation” and the “Transaction” as
defined therein, the “Base Warrant Transaction”), and the letter agreement re: Additional Issuer Warrant Transaction, between Dealer and Issuer, dated December 6, 2012 (such letter agreement, the “Additional Warrant
Confirmation” and together with the Base Warrant Confirmation, the “Confirmations,” and the “Transaction” as defined in the Additional Warrant Confirmation, the “Additional Warrant Transaction”
and together with the Base Warrant Transaction, the “Transactions”), as set forth below. Any capitalized term used but not defined herein shall have the meaning assigned thereto in the Base Warrant Confirmation or the Additional
Warrant Confirmation, as the context shall require. 
 1. Amendments. 

a. If the Hedge Completion Percentage is 100%, each Confirmation shall be amended by increasing the “Strike Price” of
each Transaction from USD 44.1875 to USD 60.00. 
 b. If the Hedge Completion Percentage is less than 100%: 

i. The Additional Warrant Confirmation shall be amended by: 

 

	 	1.	Replacing the “Number of Warrants” for each “Component” other than the last “Component” of the Additional Warrant Transaction with a number of “Warrants” (the “Additional
Daily Warrant Number”) equal to (i) the product of (a) the Hedge Completion Percentage and (b) the Total Number of 

  
 Confidential treatment has been
requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this exhibit has been filed separately with the Securities and
Exchange Commission. 

	 	2.	Warrants, rounded down to the nearest whole number (the “Additional Total Warrant Number”) divided by (ii) 150, rounded down to the nearest whole number; 

 

	 	3.	Replacing the “Number of Warrants” for the last “Component” of the Additional Warrant Transaction with a number of “Warrants” equal to the (i) the Additional Total Warrant Number
less (ii) the product of 149 and the Additional Daily Warrant Number; and 

  

	 	4.	Increasing the “Strike Price” of the Additional Warrant Transaction from USD 44.1875 to USD 60.00; and 

ii. The Base Warrant Confirmation shall be amended by: 

 

	 	1.	Replacing the “Number of Warrants” for each “Component” other than the last “Component” of the Base Warrant Transaction with a number of “Warrants” (the “Base Daily
Warrant Number”) equal to (i) the Total Number of Warrants less the aggregate “Number of Warrants” for all “Components” under the Additional Warrant Transaction, after giving effect to the amendments set
forth in Section 1.b.i above (the “Base Total Warrant Number”), divided by (ii) 150, rounded down to the nearest whole number; and 

 

	 	2.	Replacing the “Number of Warrants” for the last “Component” of the Base Warrant Transaction with a number of “Warrants” equal to (i) the Base Total Warrant Number less
(ii) the product of 149 and the Base Daily Warrant Number. 

 2. Hedging Completion Notice. On the
first Scheduled Trading Day following the Hedge Completion Date, Dealer will deliver to Issuer a hedging completion notice substantially in the form set forth in Annex B hereto, and no later than the first Scheduled Trading Day following delivery to
Issuer of such notice, absent manifest error, Issuer will return to Dealer a counter-signed copy thereof. 
 3. Restrike
Cost. In consideration for the amendments contained herein: 
 a. On December 19, 2013, Issuer shall pay to Dealer
an amount in USD equal to the product of (i) 13,895,000 and (ii) 40% (such product, the “Prepayment Amount”); and 

b. On the later of the third Currency Business Day following the Hedge Completion Date and January 2, 2014, (A) if
the Aggregate Restrike Cost exceeds the Prepayment Amount, Issuer shall pay to Dealer an amount in USD equal to such excess or (B) if the Prepayment Amount exceeds the Aggregate Restrike Cost, Dealer shall pay to Issuer an amount in USD equal
to such excess. 
 4. Definitions. As used herein: 

“Aggregate Restrike Cost” means the product of (i) the Hedge Completion Percentage multiplied by
the Total Number of Warrants and (ii) the Restrike Cost Per Share. 
 “Delta” means the
“Delta” set forth in the grid in Annex A hereto corresponding to the Hedge Execution Price; provided that (i) if the Hedge Execution Price is between “Hedge Execution Prices” set forth in such grid,
“Delta” shall be determined by linear interpolation between the “Deltas” set forth in such grid corresponding to such “Hedge Execution Prices” and (ii) if the Hedge Execution Price is less than the lowest
“Hedge Execution Price” set forth in such grid, “Delta” will be determined by the Calculation Agent in a manner consistent with the methodology used in creating such grid. 

  
 2 

 “Hedge Completion Percentage” means the ratio of the Hedge
Purchase Number to the Target Hedge Purchase Number. 
 “Hedge Execution Price” means the per-Share
volume-weighted average price at which Dealer (or its affiliate or agent) purchases Shares during the Hedging Period to adjust its Hedge Positions in connection with this Amendment; provided that the price per Share for any such purchase
shall not exceed the Limit Price (as defined in Annex A hereto). 
 “Hedge Purchase Number” means the number
of Shares purchased by Dealer (or its affiliate or agent) during the Hedging Period to adjust its Hedge Positions in connection with this Amendment. 

“Hedging Period” means the period of consecutive Scheduled Trading Days beginning on, and including,
December 17, 2013, and ending on, and including, the earlier of (i) the first date on which Dealer (or its affiliate or agent) has completed purchasing Shares to adjust its Hedge Positions in connection with this Amendment and
(ii) February 20, 2014 (such earlier date, the “Hedge Completion Date”). 
 “Restrike Cost Per
Share” means the “Restrike Cost Per Share” set forth in the grid in Annex A hereto corresponding to the Hedge Execution Price; provided that (i) if the Hedge Execution Price is between “Hedge Execution
Prices” set forth in such grid, the “Restrike Cost Per Share” shall be determined by linear interpolation between the “Restrike Costs Per Share” set forth in such grid corresponding to such “Hedge Execution
Prices” and (ii) if the Hedge Execution Price is less than the lowest “Hedge Execution Price” set forth in such grid, the “Restrike Cost Per Share” will be determined by the Calculation Agent in a manner
consistent with the methodology used in creating such grid. 
 “Target Hedge Purchase Number” means a number
of Shares equal to the product of (i) Delta and (ii) the Total Number of Warrants, rounded down to the nearest Share. 

“Total Number of Warrants” means the sum of (i) the aggregate “Number of Warrants” for all
“Components” under the Base Warrant Transaction and (ii) the aggregate “Number of Warrants” for all “Components” under the Additional Warrant Transaction (without giving effect to the amendments set forth herein).

 5. Representations, Warranties and Covenants. 

a. Each party re-makes, as of the date hereof, each of the representations and warranties set forth in Section 3(a) of the
Agreement and Section 7(b) of the Confirmations. 
 b. Issuer re-makes, as of the date hereof, each of the
representations and warranties, and agrees to comply with the covenants, set forth in Section 7(a)(i), (iv), (v), (vi), (ix)(C) and (x) of the Confirmations; provided that, solely for this purpose: 

i. Any reference therein to: 
  

	 	1.	the Confirmation shall be deemed replaced by this Amendment; 

  

	 	2.	the Trade Date or the Effective Date shall, in each case, be deemed replaced by the date hereof; 

  
 3 

	 	3.	the Transaction shall be deemed to refer to the Transaction as amended hereby; and 

  

	 	4.	the Settlement Period (including, for the avoidance of doubt, references to certain Expiration Dates in the definition thereof) shall be deemed replaced by the Hedging Period; and 

ii. The exception set forth in Section 7(a)(x) of the Confirmations for purchases, offers or orders through Dealer or
Royal Bank of Canada or Société Générale shall not apply. For the avoidance of doubt, Issuer shall not be deemed to have breached Section 7(a)(x) of the Confirmations on account of its entry into this Amendment or
the other warrant transaction amendments executed substantially contemporaneously herewith. 
 c. Issuer represents, warrants
and covenants to Dealer that: 
 i. Issuer is entering into this Amendment in good faith and not as part of a plan or scheme
to evade the prohibitions of Rule 10b5-1 under the Exchange Act (“Rule 10b5-1”) or any other antifraud or anti-manipulation provisions of the federal or applicable state securities laws and that it has not entered into or altered
and will not enter into or alter any corresponding or hedging transaction or position with respect to the Shares. Issuer and Dealer each acknowledges that it is the intent of the parties that this Amendment comply with the requirements of paragraphs
(c)(1)(i)(A) and (B) of Rule 10b5-1 and this Amendment shall be interpreted to comply with the requirements of Rule 10b5-1(c). 

ii. Issuer is entering into this Amendment hereunder in good faith and not as part of a plan or scheme to evade the
prohibitions of Rule 10b5-1 or any other antifraud or anti-manipulation provisions of the federal or applicable state securities laws and that it has not entered into or altered and will not enter into or alter any corresponding or hedging
transaction or position with respect to the Shares. 
 iii. Issuer acknowledges and agrees that any amendment, modification
or waiver of the terms set forth herein must be effected in accordance with the requirements for the amendment of a “plan” as defined in Rule 10b5-1(c). Without limiting the generality of the foregoing, any such amendment, modification or
waiver shall be made in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b-5, and no such amendment, modification or waiver shall be made at any time at which Issuer is aware of any material non-public information
regarding Issuer or the Shares. 
 d. Dealer acknowledges and agrees that Section 3 of the Confirmations will apply to
any judgment, determination or calculation made by the Calculation Agent in connection with this Amendment. 
 6.
Adjustments. If any event occurs with respect to Issuer or the Shares during the Hedging Period that gives rise to an adjustment under the Confirmations or the Equity Definitions to the terms of the Transactions, the Calculation Agent will
also adjust the terms set forth herein as appropriate to preserve the economic intent of the parties. 
 7. Continuing
Effect. Except as expressly amended hereby, the terms and provisions of the Transactions and Confirmations shall remain and continue in full force and effect and are hereby confirmed in all respects. 

  
 4 

 8. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be considered an original, with the same effect as if all of the signatures hereto and thereto were upon the same instrument. 

9. Waiver of Trial by Jury. EACH OF ISSUER AND DEALER HEREBY IRREVOCABLY WAIVES (ON ITS OWN BEHALF AND, TO THE EXTENT
PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTIONS, AS AMENDED HEREBY, OR THE
ACTIONS OF DEALER OR ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT OF THIS AMENDMENT AND THE CONFIRMATIONS AS AMENDED HEREBY. 

10. Governing Law; Jurisdiction. THIS AMENDMENT AND EACH CONFIRMATIONS AS AMENDED HEREBY AND ANY CLAIM, CONTROVERSY
OR DISPUTE ARISING UNDER OR RELATED TO THIS AMENDMENT AND THE CONFIRMATIONS AS AMENDED HEREBY SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF
NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS. 

  
 5 

 Please confirm that the foregoing correctly sets forth the terms of our agreement by sending to us a letter or
telex substantially similar to this facsimile, which letter or telex sets forth the terms of the amendments to the Transactions and indicates your agreement to those terms. Dealer will make the time of execution of the Amendment available upon
request. 
 Dealer is regulated by the Financial Services Authority. 
  

			
	DEUTSCHE BANK AG, LONDON BRANCH
		
	By:	 	 /s/ Michael Sanderson

	Name:	 	Michael Sanderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Lars Kestner

	Name:	 	Lars Kestner
	Title:	 	Managing Director
	
	 DEUTSCHE BANK SECURITIES INC., 

acting solely as Agent in connection with the Transactions

		
	By:	 	 /s/ Michael Sanderson

	Name:	 	Michael Sanderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Lars Kestner

	Name:	 	Lars Kestner
	Title:	 	Managing Director

 Confirmed and Acknowledged as of the date first above written: 

 

			
	ENCORE CAPITAL GROUP, INC.
		
	By:	 	 /s/ Kenneth A. Vecchione

	Name:	 	Kenneth A. Vecchione
	Title:	 	President and Chief Executive Officer

  
 6 

 ANNEX A 

[* * *] 
  

	[***]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 7 

 ANNEX B 

FORM OF HEDGING COMPLETION NOTICE 

[DATE] 
  

					
	To:	  	Encore Capital Group, Inc.
		  	3111 Camino Del Rio North, Suite 1300
		  	San Diego, California 92108
		  	Attn:	  	Paul Grinberg, Chief Financial Officer
		  	Telephone:	  	858-309-6904
		  	Facsimile:	  	858-309-6977

 Reference is hereby made to the letter agreement re: Amendment to Warrant Transactions (the
“Amendment”), dated December 16, 2013, between Deutsche Bank AG, London Branch (“Dealer”) and Encore Capital Group, Inc. (“Issuer”). Capitalized terms used but not defined herein shall have the
meanings assigned thereto in the Amendment. For purposes of the Amendment and the Confirmations, the following terms shall have the meanings set forth below: 
  

			
	Aggregate Restrike Cost:	  	[            ]
		
	Delta:	  	[            ]
		
	Hedge Completion Date:	  	[            ]
		
	Hedge Completion Percentage:	  	[            ]
		
	Hedge Execution Price:	  	[            ]
		
	Hedge Purchase Number:	  	[            ]
		
	Restrike Cost Per Share:	  	[            ]
		
	Target Hedge Purchase Number:	  	[            ]
		
	[For Additional Warrant Transaction:	  	
		
	 “Number of Warrants” for each “Component” other than the last “Component”:
	  	[            ]
		
	 “Number of Warrants” for last “Component”:
	  	[            ]
		
	For Base Warrant Transaction:	  	
		
	 “Number of Warrants” for each “Component” other than the last “Component”:
	  	 [            ]

		
	 “Number of Warrants” for last “Component”:
	  	[            ] ]1

  

	1 	Include if Hedge Completion Percentage is less than 100%. 

  
 8 

			
	DEUTSCHE BANK AG, LONDON BRANCH
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 DEUTSCHE BANK SECURITIES INC., 

acting solely as Agent in connection with the Transactions

		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

 Confirmed and Acknowledged as of the date first above written: 

 

			
	ENCORE CAPITAL GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:

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