Document:

Exhibit

EXHIBIT 10.36

STATE OF NORTH CAROLINA

COUNTY OF WAKE
 

LEASE AGREEMENT

THIS LEASE AGREEMENT is made and entered into as of this 28th day of November, 2016, by and  between  ATEB  PROPERTIES LLC,  a  North  Carolina  limited  liability  company  (hereinafter "Landlord") with an address of 11125 Forest Pines Drive, Raleigh, North Carolina 27614 and ATEB, INC., a North Carolina corporation with an address of 11125 Forest Pines Drive, Raleigh, North Carolina 27614 (hereinafter "Tenant").

WITNESSETH:

WHEREAS, Landlord is the owner of that certain parcel of real estate with a street address of 11125
Forest Pines Drive, Raleigh, Wake County, NC 27614 and more legally described on Exhibit A attached hereto on which is located a 65,653 square foot building and other improvements located thereon (the "Base Premises");

WHEREAS, Tenant desires to lease the Base Premises from Landlord;

NOW, THEREFORE, in consideration of the mutual covenants and conditions contained herein, including, without limitation, the covenant to pay rent and other good and valuable consideration, Landlord and Tenant hereby agree as follows:

1.          PREMISES.   Landlord leases to Tenant and Tenant leases from Landlord 48,153 square feet of the Base Premises (the "Premises") effective as of the Commencement Date of this Lease. The Premises shall be leased to Tenant together with: (i) the exclusive right to use the grounds and all exterior portions of the Base Premises and (ii) the exclusive right to use all Parking Spaces (hereinafter defined) at the Base Premises for purposes of parking, loading, unloading and storing vehicles of Tenant and Tenant's agents, representatives, consultants, subtenants, licensees, invitees, successor and assigns. The term "Parking Spaces" shall mean all vehicle parking spaces of any kind or nature at the Base Premises. Effective as of the second anniversary of the Commencement Date, the Premises leased by the Tenant shall be increased to include the remaining 17,500 square feet of the Base Premises.

2.          TERM; EXTENSION PERIODS.    The Commencement Date of this Lease shall be effective upon the consummation of the transactions contemplated by that certain Stock Purchase Agreement, dated November 28, 2016 (the "Purchase Agreement"), by and among Omnicell, Inc., a Delaware corporation, Tenant, Ateb Canada Ltd., an Ontario corporation, each of the stockholders and optionholders appearing on the signature pages of the Purchase Agreement, and Kilpatrick Law Group, PLLC, as Stockholders' Agent.   For the avoidance of doubt, if the transactions contemplated by the Purchase Agreement are not consummated, this Lease shall not become effective. This  Lease shall terminate  (unless  extended  as  herein  provided)  at  midnight  on  the  tenth  (l0th)  anniversary of  the Commencement Date (such period, the "Initial Lease Term").

Tenant may, by written notice delivered to Landlord no less than One Hundred Eighty (180) days prior to the expiration of the Initial Lease Term, extend this Lease for one (1) additional period of five (5) years (the "Extension Period"), upon the same terms and conditions as are set forth in this Lease for the Initial Lease Term, and at no more than 95% of the Fair Market Rental Rate for similar properties in Raleigh, North Carolina. Landlord shall deliver to Tenant notice of the Fair Market Rental Rate (the "FMR

Notice") for the extended Term in question within 30 days after Tenant exercises the option to extend.  If Tenant disagrees with Landlord's assessment of the Fair Market Rental Rate, then it shall so notify Landlord in writing within ten business days after delivery of such FMR Notice; otherwise, the rate set forth in such notice shall be the Fair Market Rental Rate.   If Tenant timely delivers to Landlord written notice that it disagrees with Landlord's assessment of the Fair Market Rental Rate, then Landlord and Tenant shall meet to attempt to determine the Fair Market Rental Rate.  If Landlord and Tenant have been unable to agree to a Fair Market Rental Rate within thirty (30) days of Tenant delivering its notice of disagreement to the Landlord, Tenant shall have the opportunity to give notice within 7 days after the expiration of said 30-day period that it declines to exercise the option, in which event the Lease shall expire at the end of the then existing term.  If Tenant does not choose to decline to exercise the option, then to make a determination of Fair Market Rental Rate, each of them shall appoint a real estate appraiser who is fully licensed or otherwise qualified under standards then generally recognized in the State of North Carolina, and the two such selected appraisers shall jointly choose one other similarly qualified appraiser.  The three named appraisers shall act with promptness to each separately determine the proper Fair Market Rental Rate of the Premises, and after all three (3) have made their determinations, the average of the two values which are the closest together in amount shall be the deemed Fair Market Rental Rate of the Premises for purposes hereof.  The costs of the appraisers shall be borne jointly and equally by the parties.  For each year of the Extension Period, the annual rental paid shall increase 3% per year over the Fair Market Rental Rate.

Tenant's right to extend tl1is Lease is subject to the further condition that no uncured Default (as hereafter defined in Section 14) by Tenant shall exist, either at the time Tenant's notice of extension is given, or at the commencement of the applicable extension period. The Initial Lease Term together with any properly exercised Extension Period are hereafter called the "Lease Term."

3.     USE. Tenant  may  use the Premises  for all uses supporting  the operation  of a software development  company and associated  office uses (the "Business"), and for light assembly related thereto, but for no other use without  Landlord's prior written  consent,  which  consent  shall not be unreasonably withheld.   In no event shall Tenant make any use of the Premises which: (1) violates any Laws (as defined in  herein),  or any  other  governmental   laws,  rules  or  regulations;  (2) violates  any  recorded  restrictive covenants   applicable   to  the  Premises;   (3) constitutes   a  nuisance;   (4) increases   Landlord's  casualty insurance  premiums  (or  makes  such  insurance  unavailable   to  Landlord),  or  (5) which  overloads  the Premises  or any utility serving  the same.   Tenant shall not permit its agents, employees, contractors, or invitees to place excessive loads on the parking lots and drives located thereon.

4.          RENT.  For the purposes of this Lease, all Minimum Rent payable under this Section 4 of this Lease and all Additional Rent payable under this Lease are hereafter together called "Rent."  All Rent payable by Tenant shall be paid without previous demand by Landlord, and without setoff or deduction monthly in advance on or before the first day of each calendar month during the Lease Term, unless the Lease Term commences other than on the first day of the month, in which event Minimum Rent at the above rate prorated until the end of the first calendar month of the Lease Term, shall be due. Minimum Rent shall be payable based on the following schedule:
	
			
	Lease Year
	Monthlv Minimum Rent
	Annual Minimum Rent

	12/08/2016- 12/07/2017
	$54,172.13
	$650,065.50

	12/08/2017 - 12/07/2018
	$55,817.35
	$669,808.23

	12/08/2018- 12/07/2019
	$78,400.62
	$940,807.49

	12/08/2019- 12/07/2020
	$80,753.19
	$969,038.28

	12/08/2020- 12/07/2021
	$83,160.47
	$997,925.60

	12/08/2021- 12/07/2022
	$85,677.17
	$1,028,125.98

2

	
			
	12/08/2022- 12/07/2023
	$88,248.57
	$1,058,982.89

	12/08/2023-12/07/2024
	$90,874.69
	$1,090,496.33

	12/08/2024 - 12/07/2025
	$93,610.24
	$1,123,322.83

	12/08/2025- 12/07/2026
	$96,400.49
	$1,156,805.86

In addition to such remedies as may be provided under Section 14 of this Lease, Landlord shall be entitled to a late charge for each monthly Minimum Rent payment which is not paid within five (5) days of when due, equal to four (4%) percent of such past due Minimum Rent payment (but in no event greater than the maximum amount permitted by law). All payments by Tenant on this Lease shall first be applied to amounts which are past due until paid in full, prior to the application thereof to any amounts which are not past due.

Landlord shall pay the Taxes (hereinafter defined) charged on the Base Premises to the applicable taxing authority, subject to reimbursement by the Tenant as hereinafter set out. "Taxes" mean the following, to the extent allocable to the Base Premises, and to the extent that the same are payable with respect to the Base Premises during the Lease Term:    (i) any real property tax, commercial rental tax, levy, charge, assessment, penalty or tax imposed by any taxing authority against the Base Premises (except that all assessments shall be treated as payable over the longest permitted period for payment thereof but Tenant shall pay any interest component payable as a result of paying such assessments in installments); (ii) any tax or fee on Landlord's right to receive, or the receipt of, rent or income from the Base Premises or against Landlord's business of leasing the Base Premises (but only to the extent that such tax or fee is a substitute for real estate taxes allocable to the Base Premises); provided that Rent received from Tenant shall be treated as the only rent and other income received by Landlord, (iii) any tax or charge for fire protection, streets, sidewalks, road maintenance, refuse or other services provided to the Base Premises by any governmental agency; (iv) any charge or fee replacing, substituting for, or in addition to any tax previously included within the definition of Taxes; and (v) the Landlord's actual, reasonable cost of any tax protest relating to any of the above provided that such protest is done at the request or with the approval of Tenant. "Taxes" do not, however, include: (a) Landlord's federal, state or local income, franchise, net worth, inheritance or estate taxes, (b) excess  profits taxes, gift taxes, capital stock taxes, transfer taxes, mortgage or intangible taxes or fees, (c) fines, penalties and interest due to the delinquent payment by Landlord of any tax or assessment comprising Taxes or (d) other taxes to the extent applicable to Landlord's general or net income (as opposed to taxes specific to rents, receipts or income attributable to ownership of or operations solely at the Base Premises), net worth or capital.

The Landlord shall have no obligation to contest or litigate the imposition of any Taxes.

4.1        ADDITIONAL RENT:  Tenant shall assume all charges related to the Premises. Tenant shall pay as Additional Rent, which Additional Rent shall be payable at the same time as, and in addition to, the Minimum Rent, Tenant's  Proportionate Share (hereafter defined) of the Operating Expenses as defined below. Tenant's Proportionate Share of the Operating Expenses shall be determined by multiplying the total cost thereof by a fraction, the numerator of which is the square footage of the Premises, and the denominator of which is the total square footage in the Base Premises and shall be (i) 73.33% from the Commencement Date through the second anniversary of the Commencement Date and (ii) 100.00% from and after the second anniversary of the Commencement Date during the Lease Tenn.

Landlord shall estimate the Additional Rent annually, and written notice thereof shall be given to Tenant prior to the beginning of each calendar year. Tenant shall pay to Landlord each month, at the same time the Monthly Minimum Rent is due, an amount equal to one-twelfth (1/12) of the estimated Additional Rent.  Tenant shall be responsible for delivering the Additional Rent at the same time and in the same manner as the Minimum Rent is paid. If the Operating Expenses increase during a calendar year, Landlord may increase the estimated Additional Rent during such year by giving Tenant written notice to that effect,

3

and thereafter Tenant shall pay to Landlord, in each of the remaining months of such year, an amount equal to the amount of such increase in the estimated Additional Rent divided by the number of months remaining in such year.  Within a reasonable time after the end of each calendar year, Landlord shall prepare and deliver to Tenant a statement showing the actual Additional Rent.  Within thirty (30) days after receipt of the aforementioned statement, Tenant shall pay to Landlord, or Landlord shall credit against the next rent payment or payments due from Tenant, as the case may be, the difference between the actual Additional Rent for the preceding calendar year and the estimated amount paid by Tenant during such year.  This Section 4.1 shall survive the expiration or any earlier termination of this Lease.

Late payments of additional rent shall be subject to the same late charge as set forth in the preceding paragraph.

"Operating  Expenses" shall mean the amount of all of Landlord's costs and expenses paid or incurred in operating, repairing, replacing and maintaining the Base Premises in good condition and repair for a particular calendar year as Landlord sees fit, including by way of illustration and not limitation, the following: all Taxes, insurance premiums and deductibles; costs associated with providing Premises security; repair costs; landscape maintenance costs; license, permit and inspection fees; management fees; administrative and association fees; supplies, costs, wages and related employee benefits payable for the management,  maintenance  and operation  of  the Base  Premises;  maintenance  (including  snow  and ice removal from driveways and sidewalk areas), landscaped areas, and lighting; maintenance and repair costs for stormwater facilities and retention ponds; and maintenance and repair costs, dues, fees and assessments incurred under any covenants or charged by any owners association. The cost of any Operating Expenses that are capital in nature shall be amortized over the useful life of the improvement (as reasonably determined by Landlord), and only the amortized portion shall be included in Operating Expenses.

Estimated Operating Expenses Per Annum @ 100.00%

	
		
	Taxes
	$100,000

	Exterminator
	$2,200

	Waste/Refuse
	$4,500

	Security
	$12,500

	Landscaping
	$8,000

	Management/Administrative Fees
	$35,000

	POA Dues/Stormwater Facilities
	$5,000

5.       UTILITIES: HVAC MAINTENANCE AND JANITORIAL SERVICES. 
Notwithstanding anything to the contrary in this Lease (including, without limitation, under Section 4), Tenant shall directly pay all charges for: (a) utilities serving the Base Premises, including, without limitation, electricity, telephone, gas, water, and sewer and charges for installation and initiation of such utilities, (b) repair, replacement, operation and maintenance of the heating, ventilation and air-conditioning system for the Base Premises and (c) cleaning and other janitorial services, tools and supplies for the Base Premises (such foregoing charges, the "Tenant Direct Charges", none of which shall be payable by Tenant to Landlord as Additional Rent).   During the first two (2) years of the Lease Term, Tenant shall be reimbursed by Landlord the Landlord's proportionate share of 26.67% of the Tenant Direct Changes. Such payment shall be made within fifteen (15) Business Days after Tenant delivers Landlord an invoice therefor, which invoices shall be delivered by Tenant to Landlord, together with copies of the bills from the relevant service provider.

4

6.          TENANT'S ACCEPTANCE AND MAINTENANCE OF PREMISES.

A.          "As Is" Condition.     Tenant's   occupancy  of  the  Premises  represents  to  the Landlord that Tenant has examined and inspected the same, finds them to be as represented by the Landlord, and satisfactory for Tenant's  intended use; and evidences Tenant's  acceptance of the Premises in all respects "AS IS" and "WHERE IS".  Landlord represents and warrants that, as of the date hereof and to the best of Landlord's knowledge, and without independent inquiry or investigation, the Premises is currently in compliance with all applicable laws, including without limitation, environmental laws and zoning and building codes.

B.         Tenant Maintenance and Repair.   Tenant shall take good care of the Premises and the fixtures, and appurtenances therein and thereon during the full Lease Term, and shall perform all maintenance and make all repairs at Tenant expense to the Premises thereon necessary to keep the same in good order and condition, excluding those items which are Landlord's responsibility pursuant to the terms of this Lease.  Except as provided for in Section 12 hereof, Tenant shall not install or affix anything to the roof or exterior surfaces of the Premises without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed.

C.         Landlord's Maintenance and Repair.   Landlord's only obligations with respect to the repair and maintenance of the Premises under this Section 6 and for which Landlord shall be solely financially responsible shall be: (1) for repairs necessitated by the negligence or willful acts of Landlord, or any of its agents, employees, invitees, or contractors; and (2) for maintenance, upkeep and repair of the roof, roof membrane, roof system, repair of all paved areas and sidewalks, exterior walls and foundations and structural portions of the Premises not included in Tenant's obligations under Subsection B above (excluding, however, plate glass and doors of every description);

D.          Net Lease.  Excepting only Landlord's obligations set forth above or as otherwise set forth in this Lease, it is ·intended that this be an absolutely net lease, with Tenant to be responsible for all costs and expenses required to keep the entire Premises in good order and condition throughout the Lease Tenn.

E.          Maintenance Contracts.  Should Tenant fail to fully perform its obligations under this Section 6 in a timely fashion, then Landlord, by written notice to Tenant, may require that Tenant thereafter during the remainder of the Lease Term enter into and maintain, at its expense, a maintenance contract with a service contractor acceptable to and approved in writing by Landlord.

F.          Tenant's Liability.   Subject to the provisions of Section 17E hereof, all damage or injury to the Premises caused by any willful act or negligence of Tenant, its agents, employees, licensees, contractors, invitees or visitors, shall be repaired by Landlord at Tenant's sole expense, and Tenant shall reimburse Landlord for all costs and expenses thus incurred by Landlord on the date the next Minimum Rent payment is due hereunder after Tenant's receipt of Landlord's invoice for such repair expense.

G.       Tenant Alterations and Trade Fixtures.   Tenant shall not make any alterations, changes or improvements, that involve structural changes or that cost in the aggregate in excess of
$150,000.00, to the Premises without Landlord's prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Tenant shall be permitted to install trade fixtures, equipment, and machinery on the Premises and, absent a Default by Tenant hereunder, to remove said trade fixtures, equipment, and machinery from the Premises upon the termination of this Lease.

5

If Tenant  does  remove  such  trade  fixtures,  equipment,  and  machinery  Tenant  shall  return  the
Premises to the same condition as existed at the time of original entry, ordinary wear and tear excepted.  Provided, however, Tenant shall not remove permanent  improvements  made by Tenant to the Premises;  and all such improvements  shall  belong  to Landlord  at the termination of this Lease,  shall remain  in the Premises,  and shall not be damaged  in the removal of Tenant's trade fixtures, equipment,  and machinery.   If Tenant does not remove the trade fixtures, equipment, and machinery  at the end of the Lease Term,  Landlord  shall have the option  either to declare such fixtures, equipment,  and machinery  abandoned  and Landlord the owner thereof, or to demand that Tenant  promptly  remove the same  at Tenant's expense,  returning  the Premises  to the condition required herein.

Tenant shall not permit any work to be performed anywhere within the Premises except by duly licensed contractors or artisans, each of whom must carry adequate general public liability, builder's risk, and workmen's compensation  insurance,  certificates  of which shall  be furnished Landlord  prior to the commencement  of any such work on the Premises. At no time may Tenant do any work that results in a claim of lien against Tenant's or Landlord's interest in the Premises. Tenant  is not, may not become, and shall never represent  itself to be an agent of Landlord; and Tenant expressly  recognizes  that Landlord's title is paramount  and tl1at Tenant can do nothing to affect or impair Landlord's title.

H.         No Dangerous Condition.  Tenant shall not permit, allow or cause any act or deed to be performed upon, in or about the Premises which shall cause, or be likely to cause, injury to any person, or to any adjoining property.   Tenant shall, at all times, keep the Premises and the entryways,  parking areas, sidewalks and delivery areas (if any) adjoining the Premises in a clean, neat, and orderly condition and free from rubbish, dirt, snow, standing water and ice.

7.          CASUALTY LOSS.   If the Premises shall be partially damaged by fire or other casualty insured  under  insurance  policies  maintained  under  this  Lease  ("Casualty  Insurance  Policies"),  and  if Landlord's lender(s)  shall permit  such insurance  proceeds to be so used, then upon Landlord's receipt of the insurance  proceeds,  Landlord  shall, except as otherwise  provided  herein, promptly repair and restore the same (exclusive  of Tenant's improvements, personal  property,  trade fixtures,  decorations,  signs, and contents) substantially to the condition  thereof existing  immediately  prior to such damage or destruction; limited,  however,  to the extent of the insurance  proceeds received  by Landlord  for such casualty.   If by reason  of  such  occurrence:  (a) the  Premises  is  rendered  wholly untenantable; or  (b) the  Premises  is damaged  in whole or in part as a result of a risk which is not covered by the Casualty Insurance Policies; or (c) Landlord's lender(s)  shall not permit  a sufficient  amount of the insurance  proceeds to be used for restoration  purposes; or (d) the Premises is damaged in whole or in part during the last twelve (12) months of the Lease Term including any then properly exercised extension periods); or (e) the building or buildings which then comprise  the Premises are damaged  (whether or not the Premises is damaged)  to an extent of twenty-five  percent  (25%) or more of the then fair market  value of all such building  or buildings;  then Landlord  may elect either to repair the damage as aforesaid,  or to cancel this Lease by written  notice of cancellation  given to Tenant or Tenant may elect to cancel this Lease by written notice of cancellation given, and Tenant  shall vacate and surrender  the Premises to Landlord  within fifteen (15)  days after receipt of such notice  or as soon  thereafter  as is feasible  under  the circumstances.    If no such notice is given by Landlord  or  Tenant  within  said  sixty  (60)  day  period,  then  Landlord  shall  be  required  to restore  the Premises,  as provided  above.    In addition, Tenant may also  terminate  this  Lease, by  written  notice  to Landlord, if Landlord shall fail to restore the damaged portions of the Premises within one hundred eighty (180) days after or other cause beyond its reasonable  control,  from  completing  the restoration  within said one hundred eighty (180) day period, and if Landlord shall provide Tenant with written notice of such

6

cause for delay within fifteen (15) days of the occurrence thereof, said notice to contain the reason for delay
and a good faith estimate of the period of the delay caused thereby, then Landlord shall have an additional period beyond said one hundred eighty (180) days, equal to the period Landlord is delayed by causes beyond its reasonable control, in which to restore the damaged areas of the Premises; and Tenant may not elect to terminate this Lease until said additional period has expired with Landlord having failed to complete such restoration. In such case, Tenant's fifteen (15) day notice of termination period shall begin to run upon the expiration of Landlord's additional period for restoration.   Upon  the termination  of this Lease, Tenant's liability  for  the Rent  and  other  charges  reserved  hereunder  shall  cease  as  of the effective  date  of the termination  of this Lease, subject, however, to the provisions for the prior abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid,  this Lease shall remain  in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's  improvements,  trade fixtures, decorations, signs, and contents in the Premises in a manner and to at least a condition substantially equal to that existing prior to the casualty to the Premises, and the proceeds of all insurance carried by Tenant on its said property shall be held and disbursed by or on behalf of Tenant for the purposes of such repair, restoration, or replacement.

Except as hereafter  provided to the contrary, if by reason of such casualty the Premises is rendered wholly untenantable, the Rent and other charges payable by Tenant shall be fully abated, or if only partially damaged,  such Rent and other charges shall be abated  proportionately as to that portion of the Premises rendered  untenantable,  in either event (unless the Lease is terminated, as aforesaid)  from the date of such casualty until fifteen (15) days after notice by Landlord to Tenant that the Premises have been substantially restored,  or until Tenant's has resumed  its business  operations  in the Premises,  whichever  shall  occur sooner.  Tenant shall continue the operation of Tenant's business in the Premises or any part thereof not so damaged  during  any  such  period,  to  the extent  reasonably  practicable  from  the standpoint  of  prudent business management,  and, except for such abatement  of Rent and other charges as hereinabove set forth, nothing herein contained  shall be construed to abate Tenant's obligations  hereunder.

Provided,  however,  and  subject  to  the  terms  of  Section 17E  hereof,  Tenant  shall  reimburse Landlord, within thirty (30) days after the completion of such restoration, for the full cost of such restoration if any such damage or casualty  shall  be caused  by the negligence  or other wrongful  act or omission  of Tenant, or of Tenant's  subtenants, concessionaires, licensees, contractors, employees, agents, or invitees, or their respective agents or employees, and there shall be no abatement of Rent or other charges which are Tenant's obligation under this Lease. Except for the abatement of the Rent and other charges hereinabove set  forth,  Tenant  shall  not  be  entitled   to,  and  hereby  waives,  all  claims  against  Landlord  for  any compensation or damage for loss of use of the whole or any part of the Premises, and for any inconvenience or annoyance occasioned  by any such damage, destruction, repair, or restoration.

8.          CONDEMNATION.  If any portion of the Premises is taken by any governmental body vested with the right of exercise of eminent domain, whether such taking be effected by Court action or by settlement  with the body exercising  or threatening  to exercise such power, and if (i) the property so taken materially  and adversely interferes  with Tenant's use and occupancy  of the Premises, or (ii) all reasonable means of access to or from the Premises and/or security of the Premises, then Tenant shall have the option to terminate this Lease, which option must be exercised within sixty (60) days of such taking.  If the Tenant shall not so elect to terminate, there shall be an adjustment of the Rent reflecting, on a pro rata basis, any reduction in Tenant's leased space.  All of the condemnation award (except for damage to or the taking of Tenant's personal property, trade fixtures or leasehold improvement costs and Tenant's relocation award, which shall belong to Tenant) shall be the exclusive property of, and shall be paid to Landlord.

9.          ASSIGNMENT AND SUBLETTING.  Tenant shall not assign or sublet all or any part of the Premises, or make any other transfer of its interest in the whole or any portion thereof, directly or

7

indirectly (a "Transfer"), at any time during the Lease Term without providing Landlord a minimum of
30 days prior written notice of the terms of the Transfer, and without the prior written consent of Landlord,
Which consent shall not be unreasonably withheld. Notwithstanding anything to the contrary contained herein, neither (i) the transfer of stock or other voting or ownership interests in Tenant, nor (ii) a Permitted Transfer (as hereinafter defined) shall constitute a "Transfer" for purposes hereof, and shall not require Landlord's consent (or, in the case of clause (i), notice to Landlord). Notwithstanding the foregoing, Tenant may, witl10ut the consent of Landlord undertake the following (each, a "Permitted Transfer"): (a) assign the Lease to any Affiliate of Tenant, and/or (b) sublet and/or allow the use of space in the Premises to any Affiliate of Tenant, and/or any contractor, consultant, service provider joint venture partner or client of Tenant which is occupying space in the Premises for purposes related to the conduct of Tenant's business therein.  For purposes hereof, an "Affiliate" of any person or entity is a person or entity that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with the first such person or entity. The word "control" means the power, directly or indirectly, by voting rights, contract or otherwise, to direct or cause the direction of the management or policies of a person or entity. Tenant shall provide Landlord with notice of a Permitted Transfer prior to or within thirty (30) days after the consummation thereof.   In the event Landlord consents to any Transfer, Tenant shall be solely responsible for all costs and expenses related to physical changes to the Premises necessary to accommodate the sublessee or assignee.  Any assignee or sublessee of Tenant, consented to by Landlord (to the extent Landlord consent is required), shall expressly assume the obligations of Tenant hereunder, and Tenant shall remain responsible for the faithful performance and observance of all of the covenants and obligations on Tenant's part to be performed in this Lease. Landlord's consent to any one Transfer hereunder shall not waive the requirement of its consent to any subsequent Transfer as required herein by Tenant or any assignee, subtenant or transferee. Any permitted sublease of all or any part of the Premises must contain a waiver of claims against Landlord by the subtenant and require the subtenant's insurer to issue waiver of subrogation rights endorsements to all policies of insurance carried in connection with the Premises or the contents thereof.   All waivers shall be in form and substance acceptable to Landlord.   Any attempted Transfers by Tenant in violation of the terms and conditions of this Paragraph shall be null and void.

10.        COMPLIANCE WITH LAW. Tenant shall comply with all applicable federal, state and local  statutes, treaties, rules, regulations,  ordinances,  codes,  directives  or orders issued  pursuant thereto, affecting its use of the Premises.

11.        SUBORDINATION- ATTORNMENT: ESTOPPEL CERTIFICATE.   This Lease shall be deemed subject and subordinate to any mortgage or deed of trust (herein both referred to as a "Mortgage") which may heretofore or hereafter be executed by Landlord, provided that any mortgagee or beneficiary provides a commercially reasonable "non-disturbance" agreement to Tenant, unless the mortgagee or beneficiary thereunder (both hereafter called a "mortgagee") requests that this Lease be superior to its Mortgage, in which event this Lease shall be superior.  In the event any proceedings are brought for foreclosure of any Mortgage on the Premises, Tenant will attorn to the purchaser at a foreclosure sale, and any assignee thereof, and recognize such purchaser, and any such assignee, as Landlord under this Lease, providing such purchaser or assignee agrees not to disturb Tenant's possession, or any rights of Tenant under this Lease or in the Premises, so long as Tenant is not in Default under the terms of this Lease. Tenant shall without charge execute, at Landlord's  request, and within fifteen (15) days thereof, such instruments evidencing such attornment and the subordinate position of this Lease and related matters as Landlord or its mortgagee shall request; and, as often as requested, shall sign an estoppel certifying that this Lease is in full force and effect, and that the Minimum Rent and Additional Rent payable hereunder is unmodified and in full force and effect (or, if modified, stating the nature of such modification) and the date to which rent and other charges are paid, if any, and acknowledging that there are not, to Tenant's knowledge, any uncured defaults on the part of Landlord hereunder or specifying such defaults if they are claimed and such other matters as Landlord may reasonably request. In no event shall Tenant be required

8

to execute or deliver any such estoppel which would modify or amend any of the terms or provisions of this
Lease.

Tenant agrees to give any such mortgagee of whom Tenant has been informed notice of any default or failure to perform by Landlord under this Lease, and a reasonable opportunity to cure any such Landlord default hereunder, which shall in no event be less than thirty (30) days after written notice thereof has been delivered to said mortgagee; and Tenant agrees to accept such cure if effected by such mortgagee. Further, Tenant agrees to permit such mortgagee, or the purchaser at any foreclosure sale, and the successors and assigns thereof, on acquiring Landlord's interest in the Premises or the Lease, to become substitute Landlord hereunder, with liability only for such Landlord obligations under this Lease as accrue after Landlord's interest is so acquired.

Landlord agrees to execute and deliver to Tenant, within ten (10) Business Days of Tenant's written demand, an estoppel that this Lease is in full force and effect, and that the Minimum Rent and Additional Rent payable hereunder is unmodified and in full force and effect (or, if modified, stating the nature of such modification) and the date to which rent and other charges are paid, if any, and acknowledging that there are not, to Landlord's knowledge, any uncured defaults on the part of Tenant hereunder or specifying such defaults if they are claimed and such other matters as Tenant may reasonably request.  In no event shall Landlord be required to execute or deliver any such statement which would modify or amend any of the terms or provisions of this Lease.

12.        SIGNS.  Tenant may not erect, install or display any additional sign or advertising material upon the Premises without the prior written consent of Landlord, not to be unreasonably withheld, conditioned and or delayed.  Tenant may replace an existing sign erected upon the Premises as of the Commencement Date with a sign of comparable size without the consent of Landlord.  Any and all signs placed on the Premises by Tenant shall be maintained in compliance with governmental rules and regulations governing such signs and Tenant shall be responsible to Landlord for any damage caused by installation, use or maintenance of said signs, and all damage incident to removal thereof.

13.        ACCESS TO AND FROM PREMISES.   Landlord shall have the right, either itself or through its authorized agents, to enter the Premises at all reasonable times after 48 hours advance notice to Tenant to examine the same, to show them to prospective purchasers or to tenants (during the last 9 months of the Lease Term, including any then properly exercised extension periods) for the Premises, to allow inspection by mortgagees, and to make such repairs, alterations, or changes as Landlord deems necessary. No advance notice shall be required in the event of emergency.

14.        DEFAULT.    If Tenant: (1) fails to pay any Rent or other sums payable by Tenant as provided in this Lease within five (5) days after delivery of written notice thereof from Landlord, provided such written notice shall not be provided more than two (2) times in any twelve (12) month period; or (2) breaches any other agreement or obligation herein set forth, and fails to cure such breach within thirty (30) days after delivery of written notice thereof from Landlord unless such breach cannot be reasonably cured in thirty (30) days; if Tenant does not in good faith commence cure with thirty (30) days and diligently proceed to completion; or (3) files (or has filed against it which is not dismissed within sixty (60) days of such filing) any petition or action for relief under any debtor's relief law (including bankruptcy, reorganization, or similar actions), either in state or federal court, then a "Default" by Tenant shall have occurred under this Lease, and, in addition to any other legal right or remedy which Landlord may have for such Default, Landlord may, at its sole election and without further notice to Tenant, exercise one or more or all of the following remedies:

		
	(a) 
	Re-enter the Premises and correct or repair any condition which shall constitute a failure on Tenant's part to perform or abide by the terms of this Lease, and Tenant

9

shall reimburse Landlord within fifteen (15) days of rendition of any statement to Tenant by Landlord for any expenditures made by Landlord in making such corrections or repairs;

(b)         Re-enter   the  Premises   in  compliance   with  all  applicable   laws  and  remove therefrom Tenant and all property belonging to or placed on the Premises by, or at the direction of, Tenant, and place or store such Tenant property in any public warehouse  or place of safekeeping selected  by Landlord,  at the sole expense and risk of Tenant,  all of which property Tenant shall be deemed to have abandoned and forfeited to Landlord if Tenant shall not claim and remove such property and pay all rent arrearages  plus reasonable  storage charges applicable  thereto, within thirty (30) days after delivery of written notice to remove from Landlord.

(c)         Re-let the Premises  or any part thereof for such periods,  and at such rentals and other terms and conditions as Landlord, in its sole discretion, may deem advisable, and  Landlord  may  make  alterations  or  repairs  to  the  Premises  which  it  may reasonably  deem necessary or appropriate  to facilitate such re-letting; and Tenant shall  pay all  costs of such re-letting  including  the reasonable  cost of any such repairs to the Premises.  If this Lease shall not have been terminated, Tenant shall continue  to pay all  Rent due under  this Lease  up  to and  including  the date of beginning  of  payment  of  rent  by  any  subsequent   tenant  of  part  or  all  of  the Premises,  and thereafter  Tenant  shall  pay monthly  during  the remainder  of the Lease Term the  difference,  if  any,  between  the  rent  collected  from  any  such subsequent  tenant or tenants and the Rent reserved in this Lease, but Tenant shall not be entitled to receive any excess of any such rents collected over the Rents reserved herein; or

(d)         Terminate this Lease, which termination shall be effected by delivery to Tenant of written  notice  of such  termination; and  upon  such  termination, Landlord  shall recover   from   Tenant   all  damages   Landlord   may  suffer   by  reason   of  such termination, including,  without limitation,  the cost (including  legal expenses and reasonable  attorneys' fees) of recovering possession of the Premises, and the cost of any repairs to the Premises which are reasonably  necessary to prepare the same for reletting and Landlord shall also be entitled to recover from the Tenant damages in an amount equal to all rental which is due and all rental which would otherwise have become due throughout the remaining term of this Lease, or any renewal or extension  thereof (as if this Lease had not been terminated)

In the event of a Tenant Default, Landlord shall not be obligated to mitigate its damages.

In the event of any re-entry of the Premises by Landlord pursuant to any of the provisions of this Lease, Tenant hereby waives all claims for damages, except such claims arising out of proven acts of willful misconduct  or negligence  by Landlord,  which may be caused  by such re-entry  by Landlord,  and Tenant shall save Landlord harmless from any loss, cost (including legal expenses and reasonable attorneys' fees), or damages suffered by Landlord  by reason of such re-entry, and no such re-entry shall be considered or construed  to be a forcible entry, breach of the peace, or trespass.

No course  of dealing  between  Landlord  and  Tenant,  or any delay  on  the  part  of Landlord  in exercising any rights it may have under this Lease, shall operate as a waiver of any of the rights of Landlord hereunder, nor shall any waiver of a prior Default operate as a waiver of any subsequent Default or Defaults,

10

and no express waiver shall affect any condition, covenant, rule or regulation other than the one specified in such waiver, and that one only for the time and in the manner specifically stated.

The exercise by Landlord of any one or more of the remedies provided in this Lease shall not prevent the subsequent exercise by Landlord of any one or more of the other remedies herein provided. All remedies provided for in this lease are cumulative, and may, at the election of Landlord, be exercised alternatively, successively, or in any other manner, and are in addition to any other rights provided by law.

Except with respect to Subsection (d) above, no exercise of any right or remedy by Landlord under this Lease shall effect a termination thereof, unless Landlord shall elect to terminate this Lease by written notice to Tenant; provided, however, this Lease shall be deemed terminated and ended upon delivery of such notice of termination.

In the event Tenant and Landlord have a dispute arising out of this Lease or enforcing any rights or remedies afforded to the parties under this Lease, then the prevailing party shall be entitled to recover its reasonable attorney's fees and expenses from the other party.

15.        QUIET ENJOYMENT.  Provided Tenant is not in Default hereunder, it shall peacefully have and enjoy the possession of the Premises during the Lease Tenn.

16.        NOTICES.  Any notices which Landlord or Tenant is required or desires to given to the other shall be deemed sufficiently given or rendered if in writing and delivered personally, or sent by certified or registered mail, Federal Express, express U.S. mail, or air courier, postage or fees prepaid, to the address listed for such party, immediately below, or to such other address as the intended recipient shall have previously provided to the sender by like notice.  All such notices or other communications shall be deemed delivered, given, and received on the earlier of: (1) the date of actual delivery; or (2) three days after mailing by certified or registered mail, or the next business day after sending by Federal Express or other air courier, as applicable, all regardless of refusal to accept delivery or inability to deliver due to the recipient having failed to keep the sender informed of the recipient's current address.

If to Landlord:  Ateb Properties LLC
Attn: Manager
11125 Forest Pines Drive
Raleigh, North Carolina 27614

If to Tenant:     Ateb, Inc.
Attn: Director, Finance
11125 Forest Pines Drive
Raleigh, North Carolina 27614

With a copy to: Omnicell, Inc.
Attn: Facilities Manager
590 E. Middlefield Road
Mountain View, California 94043-4008

17.    INDEMNIFICATION AND INSURANCE.

A.         Liability Insurance.   Subject to the terms of Section 17E hereof, Tenant shall indemnify Landlord and save Landlord harmless from and against all claims, actions, damages, liability and expense in connection with loss of life, bodily injury, and damage to property occurring

11

in or about, or arising out of, the Premises, to the extent occasioned wholly or in part by any act or omission of Tenant, its agents,  licensees, contractors, customers,  invitees  or employees.  Tenant shall, at all times, maintain in effect a comprehensive general public liability policy, which may be in  the  form of an  umbrella  policy,  applicable  to  the Premises  through  an  insurance  company approved by Landlord, with combined single limits of liability of at least THREE  MILLION AND 00/100 DOLLARS  ($3,000,000.00) and  up to the maximum  amount  permitted  pursuant  to any umbrella or other similar policy held by Tenant.   Such policy shall show Landlord, Landlord's mortgagee  and  Landlord's  Managing  Agent,  if  any,  as  additional  insureds,  and  evidence  of insurance  in such form as approved by Landlord  and evidence  of payment  of premiums  thereon shall be furnished to Landlord on initial occupation of the Premises by Tenant, and at all other times requested by Landlord,  but not more often than twice annually, unless Tenant shall be in Default under this Lease. At least fifteen (15) days prior to the expiration or termination date of such policy, Tenant  shall  deliver  to  Landlord  evidence  of  renewal  or replacement   policy  in such  form  as approved  by Landlord  with proof  of payment  of twelve  months  premium thereon  in advance. Tenant agrees to provide Landlord with copies of insurance certificates within fifteen (15) days of Landlord's request for same.

B.         Litigation and Attorney Fees.  In case Landlord or Tenant shall be made a party to any litigation commenced by or against the other, or its agents, contractors, customers or employees, such party shall protect and hold the other harmless therefrom, and shall pay all costs, expenses, and reasonable attorneys' fees (at all tribunal levels) incurred or paid by the other in connection with such litigation.

C.         Tenant's Property and Insurance Thereon.  Tenant shall properly maintain and care for its personal  property  on the Premises  and shall also carry, at Tenant's expense,  hazard insurance with extended coverage, insuring against loss or damage to Tenant's furnishings, fixtures, inventory,  equipment  and other property situated  in or about the Premises  to the full reasonable insurable value thereof with insurers acceptable  to Landlord.

D.         Thirty (30) Day Cancellation Notice.  All policies of insurance to be maintained by Tenant under this Lease shall provide that: (i) they may not be canceled or amended except upon not less than thirty (30) days prior written notice to Landlord and any mortgagee of Landlord of which such insurer has actual notice; and (ii) coverage may not be denied thereunder, nor may the amount payable thereunder be diminished, by any negligent act or omission of Landlord or Tenant, or their successors or assigns.

E.         Waiver of Subrogation. Each party waives all claims arising in any manner in its (the Injured Party's) favor and against the other party for loss or damage to the Injured Party's property located within or constituting a part or all of Premises.  This waiver applies to the extent the loss or damage is covered by: (1) the Injured Party's insurance; or (2) the insurance the Injured Party is required to carry under this Lease, whichever is greater.  This waiver also applies to each party's directors, officers, employees, shareholders, partners, and agents, but does not apply to claims caused by Landlord's, Tenant's, or such other parties' willful misconduct.   All policies of insurance maintained by either Landlord or Tenant under the terms of this Lease shall contain a provision whereby the insurer waives all rights of subrogation against Landlord or Tenant.

18.        SALE OF PREMISES; EXCULPATION.  The term "Landlord" as used in this Lease means  only  the  owner  of  the  fee  title  to  the  Premises.    The  current  Landlord,  upon  any  transfer  or conveyance of  its  interest  in  the  Premises,  shall  be  entirely  freed  and  relieved  of  all  covenants  and obligations  of the Landlord  hereunder,  and any transferee  of Landlord's interest in the Premises  will be responsible to assume and carry out any and all covenants and obligations of Landlord hereunder.

12

Any security given by Tenant to Landlord to secure performance of Tenant's obligations hereunder may be assigned and transferred by Landlord to the successor in interest to Landlord; and, upon acknowledgment by such successor of receipt of such security and its express assumption of the obligation to account to Tenant for such security in accordance with the terms of this Lease, the prior Landlord shall thereby be discharged of any further obligation relating thereto.

The liability of Landlord and its partners, agents, employees, stockholders, officers, and directors under this Lease shall be limited to Landlord's interest in the Premises. No other assets of Landlord or any such party shall be liable for, or subject to, any liabilities arising out of, or in connection with, this Lease.

19.        LANDLORD DEFAULT.  Should Tenant feel that there has been a default or failure by Landlord to perform Landlord's obligations under this Lease, then in addition to the notice to and right to cure on the part of any mortgagee as set forth in Section 14, Tenant shall give Landlord written notice and a reasonable opportunity to cure such default. If Landlord fails to do so within a reasonable period of time after receipt of Tenant's notice, then Tenant may cure such default and send a billing to Landlord. So long as Landlord acts reasonably and in good faith, there shall be no abatement or reduction of rent by reason of any action of Landlord.

20.        HOLDING OVER.  This Lease shall automatically terminate on the last day of the Lease Term without the requirement of notice from either party.  Provided, however, if Tenant shall continue to occupy the Premises after the last day of the Lease Term with the prior written approval of Landlord, such occupancy shall be on a month to month basis, rent shall immediately increase to 150% of its amount on the last month of the term, but shall otherwise be upon the same terms and conditions as herein set forth, except that either party may terminate such month to month tenancy upon 30 days written notice to the other party.

21.     ENVIRONMENTAL COMPLIANCE.

A.          Tenant's Responsibility. Tenant covenants and agrees that the Premises will, at all times during its use or occupancy thereof, be kept and maintained so as to comply with all now existing  or hereafter enacted or  issued statutes, laws,  rules,  ordinances, orders, permits,  and regulations of all state, federal, local, and other governmental and regulatory authorities, agencies, and bodies applicable to the Premises pertaining to environmental matters, or regulating, prohibiting or otherwise having to do with asbestos, radon, PCB's and all other toxic, radioactive, or hazardous wastes or materials, including, but not limited to, the Federal Clean Air Act, the Federal Water Pollution Control Act, and the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as from time to time amended (all hereafter collectively called "Laws").  No material shall be installed in the Premises by Tenant or any employee, agent, or contractor of Tenant which contains any asbestos or other toxic or hazardous waste or substance; or which causes, or could cause the Premises to be in violation of any Laws: (1) when such material is installed; (2) while such material remains thereon; or (3) when such material is disturbed or removed.

B.         Tenant's Liabilitv.   Tenant shall hold Landlord free, harmless, and indemnified from any penalty, fine, claim, demand, liability, cost, or charge whatsoever which Landlord shall incur, or which Landlord would otherwise incur, by reason of Tenant's failure to comply with this Section; including, but not limited to: (1) the cost of bringing the Premises into compliance with all Laws; (2) the reasonable cost of all appropriate tests and examinations of the Premises to confirm that the same has been brought into compliance with all Laws; and (3) the reasonable fees and expenses of Landlord's attorneys, engineers, and consultants incurred by Landlord in enforcing and confirming compliance with this Section.

13

C.          Inspections by Landlord.     Landlord   and   its  engineers,   technicians,   and consultants  (collectively  the ''Auditors") may, from time to time as Landlord deems appropriate, conduct  periodic  tests  and  examinations   ("Audits")   of  the  Premises  to  confirm   and  monitor Tenant's compliance  with this Section.   Such Audits  shall  be conducted  in such manner as to minimize the interference with Tenant's permitted activities on the Premises; however, in all cases, the Audits  shall  be of such  nature  and scope  as shall  be reasonably  required  by then existing technology  to confirm  Tenant's compliance  with this Section.  Tenant shall fully cooperate with the Auditors in the conduct of such Audits.   The cost of such Audits shall be paid by Landlord unless an Audit shall disclose a material failure of Tenant to comply with this Section, in which case the cost of such Audit, and the cost of all subsequent Audits made during the Lease Term and within thirty (30) days thereafter (not to exceed two [2] such Audits in any consecutive twelve [12] month period), shall be paid for by Tenant within thirty (30) days of receipt by Tenant of invoices for such audits.

D.         Limitation on Tenant Liabilitv. Provided, however, the foregoing covenants and undertakings   of  Tenant  contained  in  this  Section  shall  not  apply  to  any  condition  or  matter constituting  a violation of any Law which existed prior to the date of this Lease to the extent such violation is caused by, or results from, the acts or neglect of Landlord, or Landlord's or such other tenants' employees, officers, partners, contractors, guests or invitees or to the extent such violation is caused  by, or results from, the acts  or neglect  of Tenant,  or Tenant's or such  other  tenants' employees,  officers, partners, contractors, guests or invitees occurring prior to the date of this Lease.

Notwithstanding anything contained in this Lease to the contrary, Tenant is not liable or responsible for any hazardous or toxic materials that existed at lease commencement or which Tenant did not introduce onto the Premises.

E.         Tenant's Liabilitv After Termination of Lease. The covenants contained in this Section shall survive the expiration or termination of this Lease, and shall continue for so long as Landlord, or its successors and assigns, may be subject to any expense, liability, charge, penalty, or obligation against which Tenant has agreed to indemnify Landlord under this Section.

22.        CONSENT NOT UNREASONABLY WITHHELD. Whenever the consent or approval of any party hereto is required under the terms of this Lease, such approval must be in writing to be effective; and in no event shall such consent or approval be unreasonably withheld or delayed.

23.        DUE AUTHORIZATION.   Each  party,  hereto  which  is a corporation  or  partnership (hereafter  an "Organization") warrants and represents  to the other party hereto that the Organization,  and any of its  partners  or constituent  members  which  are partnerships  or corporations,  are each  valid  and existing   general  or  limited   partnerships   or  corporations   (as  applicable),  in  good  standing  and  duly authorized  to transact business in North Carolina, and, if different, their states of organization; and that all persons executing  this Lease on behalf of an Organization,  or any partner or constituent member  thereof, have been duly authorized  to do so.  Further, the execution of this Lease has been duly authorized by all appropriate action of each Organization and any such partner or constituent member thereof.

24.        MISCELLANEOUS.  The Premises are leased subject to all easements, restrictions, and rights of way of record legally affecting the same; provided that Landlord represents to Tenant that no such matters interfere with Tenant's use of the Premises for the permitted use.

This Lease may be executed in separate counterparts.   It shall be fully executed when each party whose signature is required has signed at least one counterpart even though no one counterpart contains the

14

signatures of all of the parties. Facsimile signatures are acceptable to bind the parties, provided an original signature is submitted within fifteen (15) days following execution.

This Lease shall not be recorded, but, at the request of either party and at such requesting party’s expense, a memorandum hereof, containing such information as is necessary to provide adequate record notice of the existence of the Lease and the terms hereof, including whether options to renew or purchase exist, shall be prepared and recorded in the county where the Premises are located.

The invalidity of any portion of this Lease shall not have any effect on the balance hereof.  This Lease shall be binding upon the respective parties hereto, and upon their heirs, executors, successors and assigns.  This Lease supersedes and cancels all prior negotiations between the parties, and all changes in this Lease shall be in writing and signed by the party affected by such change. The singular shall include the plural, and the masculine or neuter includes the other.                                                                                                                                                              
Time is of the essence under this Lease. Headings and captions are for convenience and not for interpretation.  This Lease shall be construed and enforced under the laws of the State of North Carolina.

IN WITNESS WHEREOF, Landlord and Tenant, each with due authorization, have caused this
Lease to be duly executed in duplicate originals, all as of the day and year first above written

(SIGNATURES ON FOLLOWING PAGES]

15

SIGNATURES

LANDLORD:

ATEB  PROPERTIES LLC,  a North Carolina  limited liability company

By:________/s/ Alun Prytherch__________________
Name:_____Alun Prytherch_____________________
Title:______Manager__________________________

TENANT:

ATEB, INC., a North Carolina corporation

By:________/s/ Eric C. Thomas_________________
Name:_____Eric C. Thomas____________________
Title:______CFO____________________________

16

EXHIBIT A 
DESCRIPTION OF PREMISES

That certain tract of land containing approximately 10.89 acres shown as Lot 10 on the map entitled "Recombination Survey for CK Wakefield Properties, LLC," prepared by Priest, Craven & Associates,  In. and recorded in Book of Maps 20!3, Page 00580 of the Wake County, North Carolina Registry.

17Exhibit

        

Exhibit 10.13

HYSTER-YALE GROUP, INC. 
EXECUTIVE EXCESS RETIREMENT PLAN
NACCO Materials Handling Group, Inc. (the “Company”) originally adopted this NACCO Materials Handling Group, Inc. Executive Excess Retirement Plan (the “Plan”) to be effective as of, and contingent upon, the “Spin Off Date,” as such term is defined in the 2012 Separation Agreement between NACCO Industries, Inc. and Hyster-Yale Materials Handling, Inc.    
Effective as of the Spin-Off Date, the Company agreed to a partial spin-off from the NACCO Materials Handling Group, Inc. Excess Retirement Plan (the “Excess Plan”) and the transfer of the liabilities attributable to the Chairman of the Company (the “Participant”) in the Excess Plan to the Plan. The Participant ceased to be a participant in the Excess Plan immediately upon such spin-off and transfer, and the Excess Plan has no liability or obligation thereafter to the Participant. Immediately after the spin-off and transfer, the Participant had an Account balance in this Plan equal to the Account balance of the Participant in the Excess Plan immediately before such spin-off and transfer. This Plan shall be a continuation of the Excess Plan as to the Participant.
Effective January 1, 2016, NACCO Materials Handling Group, Inc. was renamed Hyster-Yale Group, Inc. Accordingly, Hyster-Yale Group, Inc., hereby amends, restates and renames the Plan as the Hyster-Yale Group, Inc. Executive Excess Retirement Plan effective as of January 1, 2016 (the “Effective Date”) to read as follows:
ARTICLE I- PREFACE
		
	Section 1.1.
	  Purpose of the Plan.  The purpose of this Plan is to provide the Participant with the benefits he would have received under the Profit Sharing Plan if he was a participant in such plan.   

		
	Section 1.2.
	  Governing Law.  This Plan shall be regulated, construed and administered under the laws of the State of North Carolina, except where preempted by federal law.

		
	Section 1.3.
	  Application of Code Section 409A.  

		
	(a)
	The Excess 401(k) Sub-Accounts under the Plan are subject to the requirements of Code Section 409A.  The remainder of the Plan is intended to be exempt from the requirements of Code Section 409A.   

		
	(b)
	It is intended that the compensation arrangements under the Plan be in full compliance with the requirements of, or exceptions to, Code Section 409A. The Plan shall be interpreted and administered in a manner to give effect to such intent.  Notwithstanding the foregoing, the Company does not guarantee the Participant any particular tax result with respect to any payments provided hereunder, including tax treatment under Code Section 409A.

ARTICLE II    - DEFINITIONS

2

Except as otherwise provided in this Plan, terms defined in the Profit Sharing Plan as it may be amended from time to time shall have the same meanings when used herein, unless a different meaning is clearly required by the context of this Plan.  In addition, the following words and phrases shall have the following respective meanings for purposes of this Plan:
		
	Section 2.1.
	  Account shall mean the record maintained by the Company in accordance with Section 4.1 as the sum of the Participant's Excess Retirement Benefits hereunder.  The Participant's Account shall be further divided into the Sub-Accounts described in Article III hereof.

		
	Section 2.2.
	  Beneficiary shall mean the person or persons designated by the Participant as his Beneficiary under this Plan, on a form acceptable to the Plan Administrator prior to the Participant’s death.  In the absence of a valid designation, a Participant’s Beneficiary shall be his surviving spouse or, if none, his estate.

		
	Section 2.3.
	  Bonus shall mean any bonus under the Company’s annual incentive compensation plan(s) that would be taken into account as Compensation under the Profit Sharing Plan, which is earned with respect to services performed by the Participant during a Plan Year (whether or not such Bonus is actually paid to the Participant during such Plan Year).  

		
	Section 2.4.
	  Company shall mean Hyster-Yale Group, Inc. (formerly known as NACCO Materials Handling Group, Inc.) or any entity that succeeds Hyster-Yale Group, Inc. by merger, reorganization or otherwise.

		
	Section 2.5.
	  Compensation shall have the same meaning as under the Profit Sharing Plan, except that Compensation shall be deemed to include (i) the amount of compensation deferred by the Participant under this Plan, (ii) amounts in excess of the limitation imposed by Code Section 401(a)(17).  Notwithstanding the foregoing, the timing and crediting of Bonuses hereunder shall be as specified in Section 3.2.

		
	Section 2.6.
	    Excess Retirement Benefit or Benefit shall mean an Excess Profit Sharing Benefit, Excess 401(k) Benefit, Excess Employer Contribution Benefit or Excess Transitional Benefit (all as described in Article III) which is payable to or with respect to the Participant under this Plan.

		
	Section 2.7.
	  Fixed Income Fund shall mean the Vanguard Retirement Savings Trust IV investment fund under the Profit Sharing Plan or any equivalent fixed income fund thereunder which is designated by the Company’s Retirement Funds Investment Committee as the successor thereto.

		
	Section 2.8.
	    Key Employee.  A Participant shall be classified as a Key Employee if he meets the following requirements:

		
	(a)
	The Participant, with respect to the Participant’s relationship with the Company and the Controlled Group Members, met the requirements of Section 416(i)(1)(A)(i), (ii) or (iii) of the Code (without regard to Section 416(i) (5)) and the Treasury Regulations issued thereunder) at any time during the 12-month period ending on the most recent Identification 

3

Date (defined below) and his Termination of Employment occurs during the 12-month period beginning on the most recent Key Employee Effective Date (defined below).  When applying the provisions of Code Section 416(i)(1)(A)(i), (ii) or (iii) for this purpose:  (i) the definition of “compensation” (A) shall be the definition under Treasury Regulation Section 1.415(c)-2(d)(4) (i.e., the wages and other compensation for which the Employer is required to furnish the Employee with a Form W-2 under Code Sections 6041, 6051 and 6052, plus amounts deferred at the election of the Employee under Code Sections 125, 132(f)(4) or 401(k)) and (B) shall apply the rule of Treasury Regulation Section 1.415-2(g)(5)(ii) which excludes compensation of non-resident alien employees and (ii) the number of officers described in Code Section 416(i)(1)(A)(i) shall be 60 instead of 50.
		
	(b)
	The Identification Date for Key Employees is each December 31st and the Key Employee Effective Date is the following April 1st.  As such, any Employee who is classified as a Key Employee as of December 31st of a particular Plan Year shall maintain such classification for the 12-month period commencing on the following April 1st. 

		
	(c)
	Notwithstanding the foregoing, the Participant shall not be classified as a Key Employee unless the stock of NACCO Industries, Inc. (or a related entity) (for periods prior to the Spin-Off  Date) or Hyster-Yale Materials Handling, Inc. (for periods after the Spin Off Date) (subject to any applicable transitional rules contained in Code Section 409A and the regulations issued thereunder) is publicly traded on an established securities market or otherwise on the date of the Participant’s Termination of Employment..

		
	Section 2.9.
	  Participant shall mean the Chairman of the Company on the Spin Off Date.

		
	Section 2.10.
	    Plan Administrator shall mean the Hyster-Yale Group, Inc. Benefits Committee (the “Benefits Committee”).

		
	Section 2.11.
	  Plan Year shall mean the calendar year.

		
	Section 2.12.
	    Profit Sharing Plan shall mean the Hyster-Yale Group, Inc. Profit Sharing Retirement Plan or any successor thereto.

		
	Section 2.13.
	    Termination of Employment means, with respect to the Participant’s relationship with the Company and the Controlled Group Members, a separation from service as defined in Code Section 409A (and the regulations or other guidance issued thereunder).  

		
	Section 2.14.
	  Valuation Date shall mean the last day of each calendar month and any other date chosen by the Plan Administrator.

ARTICLE III    - EXCESS RETIREMENT BENEFITS – CALCULATION OF AMOUNT
		
	Section 3.1.
	  Excess Profit Sharing Benefits.  Each Plan Year, the Company shall credit to a Sub-Account (the "Excess Profit Sharing Sub-Account") established for the Participant an amount equal to the amount of the Company’s Profit Sharing Contribution which would have been made to the profit sharing portion of the Profit Sharing Plan on behalf of the Participant if (a) the Participant was a participant in such Plan; (b) the Plan did not contain the limitations imposed under 

4

Sections 401(a)(17) and 415 of the Code or any limits on the amount of Profit Sharing Contributions that may be paid to Highly Compensated Employees and (c) the term "Compensation" (as defined in Section 2.5 hereof) were used for purposes of determining the amount of profit sharing contributions under the Profit Sharing Plan (the "Excess Profit Sharing Benefits").  
		
	Section 3.2.
	    Basic and Additional Excess 401(k) Benefits.

		
	(a)
	Applicability.  The provisions of this Section 3.2 shall apply during the 2012 Plan Year (and the 2013 Plan Year, but solely with respect to the Participant’s Bonus that was earned in 2012 and will be paid in 2013).  The Participant’s deferral election under the Excess Plan relating to his 2012 Compensation (including his Bonus that will be paid in 2013) shall continue in full force and effect under this Plan after the Spin Off Date.  All amounts deferred by the Participant under this Section 3.2 shall be referred to herein collectively as the “Excess 401(k) Benefits.”  Notwithstanding anything in the Plan to the contrary, in no event shall the Participant be entitled to receive Excess 401(k) Benefits under the Plan for Plan Years commencing on and after January 1, 2014. 

		
	(b)
	Classification of Excess 401(k) Benefits.  The Excess 401(k) Benefits for the 2012 Plan Year (and the 2013 Plan Year, but solely with respect to the Participant’s Bonus that was earned in 2012 and will be paid in 2013) shall be calculated monthly and shall be further divided into the "Basic Excess 401(k) Benefits" and the "Additional Excess 401(k) Benefits" as follows:

		
	(i)
	The Basic Excess 401(k) Benefits shall be determined by multiplying each Excess 401(k) Benefit by a fraction, the numerator of which is the lesser of the percentage of Compensation elected to be deferred in the deferral election form for such Plan Year or 7% and the denominator of which is the percentage of Compensation elected to be deferred; and

		
	(ii)
	The Additional Excess 401(k) Benefits (if any) shall be determined by multiplying each Excess 401(k) Benefit by a fraction, the numerator of which is the excess (if any) of (1) the percentage of Compensation elected to be deferred in the deferral election form for such Plan Year over (2) 7%, and the denominator of which is the percentage of Compensation elected to be deferred.

The Basic Excess 401(k) Benefits shall be credited to the Basic Excess 401(k) Sub-Account under this Plan and the Additional Excess 401(k) Benefits shall be credited to the Additional Excess 401(k) Sub-Account hereunder.  The Basic and Additional Excess 401(k) Sub-Accounts shall be referred to collectively as the “Excess 401(k) Sub-Account.” 
		
	Section 3.3.
	  Excess Employer Contributions.  For each Plan Year beginning on and after January 1, 2013,  the Company shall credit to a Sub-Account (the "Excess Employer Contribution Sub-Account") established for the Participant an amount equal to 3% of his Compensation (the "Excess Employer Contribution Benefits").  Notwithstanding the foregoing, for 2012, the Participant's Excess Employer Contribution Benefit shall be an amount equal to the Matching Employer Contributions attributable to the Excess 401(k) Benefits he is prevented from 

5

receiving under the Profit Sharing Plan because of various Code limitations or as a result of his deferral of Compensation under this Plan.  
		
	Section 3.4.
	  Transitional Benefits.  The Company shall credit to a Sub-Account (the “Transitional Sub-Account”) established for the Participant an amount equal to $37,710 (the “Transitional Benefit”) on December 31, 2012 and on each following December 31st; provided, however, that the Participant remains employed by the Company on each such date.

ARTICLE IV    - ACCOUNTS
		
	Section 4.1.
	  Participant Accounts.  The Company shall establish and maintain on its books an Account for the Participant which shall contain the following entries:

		
	(a)
	Credits to an Excess Profit Sharing Sub-Account for the Excess Profit Sharing Benefits described in Section 3.1, which shall be credited to the Sub-Account at the time the Profit Sharing Contributions would otherwise be credited to the Participant’s account under the Profit Sharing Plan.

		
	(b)
	Credits to a Basic or Additional Excess 401(k) Sub-Account for the Basic and Additional Excess 401(k) Benefits described in Section 3.2, which shall be credited to the Sub-Account when the Participant is prevented from making a Before-Tax Contribution under the Profit Sharing Plan.

		
	(c)
	Credits to an Excess Employer Contribution Sub-Account for the Excess Employer Contribution Benefits described in Section 3.3, which amounts shall be credited to the Sub-Account as of the last day of each calendar month; provided, however, that amounts credited to the Participant’s Excess Employer Contribution Sub-Account in 2012 shall be credited when the Participant is prevented from receiving Matching Employer Contributions under the Profit Sharing Plan.

		
	(d)
	Credits to the Transitional Sub-Account for the Transitional Benefit at the time(s) described in Section 3.4.

		
	(e)
	Credits to all Sub-Accounts for the earnings and the uplift described in Article V.

		
	(f)
	Debits for any distributions made from the Sub-Accounts.

		
	(g)
	Any amounts that were credited to the Participant’s corresponding sub-accounts under the Excess Plan shall be transferred to the appropriate sub-accounts under this Plan as of the Spin Off Date.

ARTICLE V        – EARNINGS/UPLIFT
		
	Section 5.1.
	  Earnings.

Subject to Section 5.3, at the end of each calendar month during a Plan Year, the Excess 401(k), the Transitional Sub-Account and Excess Employer Contribution Sub-Accounts of the Participant shall be credited with an amount determined by multiplying such Participant’s Sub-Account 

6

balance during such month by the blended rate earned during the prior month by the Fixed Income Fund.  Notwithstanding the foregoing, no interest shall be credited for the month in which a Sub-Account is distributed hereunder.
		
	Section 5.2.
	  Uplift on Plan Payments.

Subject to Section 5.3, but in addition to the earnings described in Section 5.1, the balance of the Basic Excess 401(k) Sub-Account, the Excess Employer Contribution Sub-Account, the Transitional Sub-Account and the Excess Profit Sharing Sub-Account as of the last day of the month prior to the payment date shall each be increased by an additional 15%.
		
	Section 5.3.
	  Changes/Limitations.

		
	(a)
	The  Compensation Committee of Hyster-Yale Materials Handling, Inc. may change (or suspend) (i) the earnings rate credited on Accounts and/or (ii) the amount of the uplift under the Plan at any time.

		
	(b)
	Notwithstanding any provision of the Plan to the contrary, in no event will earnings on Accounts for a Plan Year (excluding the uplift under Section 5.2) be credited at a rate which exceeds 14%.

ARTICLE VI    - VESTING
		
	Section 6.1.
	  Vesting.  The Participant shall always be 100% vested in all amounts credited to his Account hereunder.

ARTICLE VII    -TIME AND FORM OF PAYMENT
		
	Section 7.1.
	  Time and Form of Payment.  All amounts credited to the Participant’s Sub-Accounts for each Plan Year (a) including the Excess Profit Sharing Benefits, earnings and uplift that are credited after the end of a Plan Year but (b) reduced for any applicable withholding taxes shall automatically be paid to the Participant (or his Beneficiary in event of his death) in the form of a single lump sum payment on March 15th of the immediately following Plan Year.   

		
	Section 7.2.
	Other Payment Rules and Restrictions.

		
	(a)
	Payments Violating Applicable Law.    Notwithstanding any provision of the Plan to the contrary, the payment of all or any portion of the amounts payable hereunder will be deferred to the extent that the Company reasonably anticipates that the making of such payment would violate Federal securities laws or other applicable law (provided that the making of a payment that would cause income taxes or penalties under the Code shall not be treated as a violation of applicable law).  The deferred amount shall become payable at the earliest date at which the Company reasonably anticipates that making the payment will not cause such violation.

		
	(b)
	Delayed Payments due to Solvency Issues.  Notwithstanding any provision of the Plan to the contrary, the Company shall not be required to make any payment hereunder to the Participant or Beneficiary if the making of the payment would jeopardize the ability of the Company to continue as a going concern; provided that any missed payment is made during the first calendar 

7

year in which the funds of the Company are sufficient to make the payment without jeopardizing the going concern status of the Company.
		
	(c)
	Key Employees.  Notwithstanding any provision of the Plan to the contrary, to the extent the payment of a Sub-Account is subject to Code Section 409A, the payment of such Sub-Account to a Key Employee made on account of a Termination of Employment may not be made before the 1st day of the seventh month following such Termination of Employment (or, if earlier, the date of death) except for payments made on account of (i) a QDRO (as specified in Section 8.5) or (ii) a conflict of interest or the payment of FICA taxes (as specified in Subsection (e) below).  Any amounts that are otherwise payable to the Key Employee during the 6-month period following his Termination of Employment shall be accumulated and paid in a lump sum make-up payment within 30 days following the 1st day of the 7th month following Termination of Employment.

		
	(d)
	Acceleration of Payments.  Notwithstanding any provision of the Plan to the contrary, to the extent a Sub-Account is subject to 409A, payments of such Sub-Account hereunder may be accelerated (i) to the extent necessary to comply with federal, state, local or foreign ethics or conflicts of interest laws or agreements or (ii) to the extent necessary to pay the FICA taxes imposed on benefits hereunder under Code Section 3101, and the income withholding taxes related thereto.  Payments may also be accelerated if the Plan (or a portion thereof) fails to satisfy the requirements of Code Section 409A; provided that the amount of such payment may not exceed the amount required to be included as income as a result of the failure to comply with Code Section 409A.

		
	(e)
	Withholding/Taxes.  To the extent required by applicable law, the Company shall withhold from the Excess Retirement Benefits hereunder, any income, employment or other taxes required to be withheld by any government or governmental agency.

ARTICLE VIII    - MISCELLANEOUS
		
	Section 8.1.
	  Liability of the Company.  Nothing in this Plan shall constitute the creation of a trust or other fiduciary relationship between the Company and the Participant, his Beneficiary or any other person.

		
	Section 8.2.
	      Limitation on Rights of Participants and Beneficiaries – No Lien.  This Plan is designed to be an unfunded, nonqualified plan.  Nothing contained herein shall be deemed to create a trust or lien in favor of the Participant or his Beneficiary on any assets of the Company.  The Company shall have no obligation to purchase any assets that do not remain subject to the claims of the creditors of the Company for use in connection with the Plan.  None of the Participant, his Beneficiary, or any other person shall have any preferred claim on, or any beneficial ownership interest in, any assets of the Company prior to the time that such assets are paid to the Participant or his Beneficiary as provided herein.  The Participant and his Beneficiary shall have the status of a general unsecured creditor of the Company.  The amount standing to the credit of the Participant's Sub-Account is purely notional and affects only the calculation of benefits payable to or in respect of him.  It does not give the Participant any right or entitlement (whether legal, equitable or otherwise) to any particular assets held for the purposes of the Plan or otherwise.

8

		
	Section 8.3.
	  No Guarantee of Employment.  Nothing in this Plan shall be construed as guaranteeing future employment to the Participant.  The Participant continues to be an Employee of the Company solely at the will of the Company subject to discharge at any time, with or without cause.

		
	Section 8.4.
	  Payment to Guardian.  If a Benefit payable hereunder is payable to a minor, to a person declared incompetent or to a person incapable of handling the disposition of his property, the Plan Administrator may direct payment of such Benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or person.  The Plan Administrator may require such proof of incompetency, minority, incapacity or guardianship as it may deem appropriate prior to distribution of the benefit.  Such distribution shall completely discharge the Company from all liability with respect to such Benefit.

		
	Section 8.5.
	  Anti-Assignment.

		
	(a)
	Subject to Subsection (b), no right or interest under this Plan of the Participant or his Beneficiary shall be assignable or transferable in any manner or be subject to alienation, anticipation, sale, pledge, encumbrance or other legal process or in any manner be liable for or subject to the debts or liabilities of the Participant or his Beneficiary.

		
	(b)
	Notwithstanding the foregoing, the Plan Administrator shall honor a qualified domestic relations order (“QDRO”) from a state domestic relations court which requires the payment of all or a part of the Participant's or his Beneficiary's vested interest under this Plan to an "alternate payee" as defined in Code Section 414(p).

		
	Section 8.6.
	  Severability.  If any provision of this Plan or the application thereof to any circumstance(s) or person(s) is held to be invalid by a court of competent jurisdiction, the remainder of the Plan and the application of such provision to other circumstances or persons shall not be affected thereby.

		
	Section 8.7.
	  Effect on other Benefits.  Benefits payable to or with respect to the Participant under any other Company sponsored (qualified or nonqualified) plan, if any, are in addition to those provided under this Plan.

ARTICLE IX     - ADMINISTRATION OF PLAN
		
	Section 9.1.
	  Administration.

		
	(a)
	In General.  The Plan shall be administered by the Plan Administrator.  The Plan Administrator shall have discretion to interpret where necessary all provisions of the Plan (including, without limitation, by supplying omissions from, correcting deficiencies in, or resolving inconsistencies or ambiguities in, the language of the Plan), to make factual findings with respect to any issue arising under the Plan, to determine the rights and status under the Plan of the Participant or other persons, to resolve questions (including factual questions) or disputes arising under the Plan and to make any determinations with respect to the benefits payable under the Plan and the persons entitled thereto as may be necessary for the purposes of the Plan.  

9

Without limiting the generality of the foregoing, the Plan Administrator is hereby granted the authority to determine if a person is entitled to Benefits hereunder and, if so, the amount and duration of such Benefits.  The Plan Administrator's determination of the rights of any person hereunder shall be final and binding on all persons, subject only to the provisions of Sections 9.3 and 9.4 hereof.
		
	(b)
	Delegation of Duties.  The Plan Administrator may delegate any of its administrative duties, including, without limitation, duties with respect to the processing, review, investigation, approval and payment of Benefits, to a named administrator or administrators.

		
	Section 9.2.
	  Regulations.  The Plan Administrator may promulgate any rules and regulations it deems necessary in order to carry out the purposes of the Plan or to interpret the provisions of the Plan; provided, however, that no rule, regulation or interpretation shall be contrary to the provisions of the Plan.  The rules, regulations and interpretations made by the Plan Administrator shall, subject only to the provisions of Sections 9.3 and 9.4 hereof, be final and binding on all persons.

		
	Section 9.3.
	  Claims Procedures.

		
	(a)
	The Plan Administrator shall determine the rights of any person to any Benefits hereunder.  Any person who believes that he has not received the Benefits to which he is entitled under the Plan must file a claim in writing with the Plan Administrator.  The Plan Administrator shall, no later than 90 days after the receipt of a claim (plus an additional period of 90 days if required for processing, provided that notice of the extension of time is given to the claimant within the first 90 day period), either allow or deny the claim in writing.

		
	(b)
	A written denial of a claim by the Plan Administrator, wholly or partially, shall be written in a manner calculated to be understood by the claimant and shall include: (i) the specific reasons for the denial; (ii) specific reference to pertinent Plan provisions on which the denial is based; (iii) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and (iv) an explanation of the claim review procedure and the time limits applicable thereto (including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review).

		
	(c)
	A claimant whose claim is denied (or his duly authorized representative) who wants to contest that decision must file with the Plan Administrator a written request for a review of such claim within 60 days after receipt of denial of a claim.  If the claimant does not file a request for review of his claim within such 60-day period, the claimant shall be deemed to have acquiesced in the original decision of the Plan Administrator on his claim.  If such an appeal is so filed within such 60 day period, the Compensation Committee of Hyster-Yale Materials Handling, Inc. (or its delegate) shall conduct a full and fair review of such claim.  During such review, the claimant shall be given the opportunity to review documents that are pertinent to his claim and to submit issues and comments in writing.  For this purpose, the Compensation Committee of Hyster-Yale Materials Handling, Inc. (or 

10

its delegate) shall have the same power to interpret the Plan and make findings of fact thereunder as is given to the Plan Administrator under Section 9.1(a) above.
		
	(d)
	The Compensation Committee of Hyster-Yale Materials Handling, Inc. (or its delegate) shall mail or deliver to the claimant a written decision on the matter based on the facts and the pertinent provisions of the Plan within 60 days after the receipt of the request for review (unless special circumstances require an extension of up to 60 additional days, in which case written notice of such extension shall be given to the claimant prior to the commencement of such extension).  Such decision shall be written in a manner calculated to be understood by the claimant, shall state the specific reasons for the decision and the specific Plan provisions on which the decision was based and, to the extent permitted by law, shall be final and binding on all interested persons.  In addition, the notice of adverse determination shall also include statements that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records and other information relevant to the claimant’s claim for benefits and a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA. 

		
	Section 9.4.
	 Revocability/Recovery.  Any action taken by the Plan Administrator or the Compensation Committee of Hyster-Yale Materials Handling, Inc. (or its delegate) a with respect to the rights or benefits under the Plan of any person shall be revocable as to payments not yet made to such person.  In addition, the  acceptance of any Benefits under the Plan constitutes acceptance of and agreement to the Plan  making any appropriate adjustments in future payments to any person (or to recover from such person) any excess payment or underpayment previously made to him.

		
	Section 9.5.
	  Amendment.  The Company (with the approval or ratification of the Compensation Committee of Hyster-Yale Materials Handling, Inc.) may at any time prospectively or retroactively amend any or all of the provisions of this Plan for any reason whatsoever, except that, without the prior written consent of the Participant, no such amendment may (a) reduce the amount of any Participant's vested Benefit as of the date of such amendment or (b) alter the time of payment provisions described in Article VII of the Plan, except for any amendments that are required to bring such provisions into compliance with the requirements of, or exceptions to, Code Section 409A or that accelerate the time of payment (provided that such amendments comply with the requirements of Code Section 409A as applied to any Sub-Account that is subject to the requirements of Code Section 409A).  Any amendment shall be in the form of a written instrument executed by an officer of the Company.  Subject to the foregoing provisions of this Section, such amendment shall become effective as of the date specified in such instrument or, if no such date is specified, on the date of its execution.

Section 9.6.    Termination.
		
	(a)
	Subject to Subsection (b), the Company (with the approval or ratification of the Compensation Committee of Hyster-Yale Materials Handling, Inc.), in its sole discretion, may terminate this Plan at any time and for any reason whatsoever, except that, without the prior written consent of the Participant,  no such 

11

termination may (i) reduce the amount of the Participant's vested Benefit as of the date of such termination or (ii) alter the  payment provisions described in Article VII of the Plan, except for changes that are required to bring such provisions into compliance with the requirements of, or exceptions to, Code Section 409A or that accelerate the time of payment (in a manner permitted under Code Section 409A as applied to any Sub-Account that is subject to the requirements of Code Section 409A).  Any such termination shall be expressed in the form of a written instrument executed by an officer of the Company on the order of the Compensation Committee of Hyster-Yale Materials Handling, Inc.  Subject to the foregoing provisions of this Section, such termination shall become effective as of the date specified in such instrument or, if no such date is specified, on the date of its execution.  Written notice of any termination shall be given to the Participant at a time determined by the Plan Administrator.
		
	(b)
	Notwithstanding anything in the Plan to the contrary, in the event of a termination of the Plan (or any portion thereof), the Company, in its sole and absolute discretion, shall have the right to change the time and form of distribution of the Participant’s Excess Retirement Benefits but only to the extent such change is permitted by Code Section 409A and Treasury Regulations or other guidance issued thereunder.

		
	Section 9.7.
	Expenses.  The expenses of administering the Plan shall be paid by the Company.

EXECUTED, this 24th day of June, 2016.
	
				
	 
	 
	 
	 

	 
	 
	 
	HYSTER-YALE GROUP, INC.

	 
	 
	 
	 

	 
	 
	By:
	/s/ Suzanne Schulze Taylor

	 
	 
	 
	Name: Suzanne Schulze Taylor

	 
	 
	 
	Title: Senior Vice President, General Counsel and Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00267-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00267-of-00352.parquet"}]]