SEC Contract Filing

Filing Date: 2017-08-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v473495_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHARES PURCHASE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS SHARES PURCHASE
AGREEMENT is made and entered into on August 16, 2017, by and between Preformed Line Products Company, an Ohio corporation (&ldquo;Purchaser&rdquo;),
and the trustee under the 2016 Trust Agreement Between Barbara P. Ruhlman and Bernard L. Karr, dated September 21, 2016 (&ldquo;Seller&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>RECITALS</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser&rsquo;s
common shares, $2 par value, are traded on the NASDAQ National Market (the &ldquo;NASDAQ&rdquo;) under the symbol &ldquo;PLPC&rdquo;
and Purchaser is a reporting company under the Securities Exchange Act of 1934, as amended. As a result, financial and other material
business information about Purchaser is publicly available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
is the trustee of a trust established by a shareholder of Purchaser. The Business Advisors of the trust are Robert Ruhlman, the
Chairman, President, Chief Executive Officer, Board Member of Purchaser and a shareholder, and Randall Ruhlman, a shareholder of
Purchaser. The trust is the owner of 827,820 common shares of Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
approached Purchaser regarding Seller&rsquo;s desire to sell <B>24,920 </B>of Seller&rsquo;s common shares to Purchaser (the &ldquo;Shares&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
response to Seller&rsquo;s inquiry, Purchaser after due consideration, including the review and approval of the proposed transaction
by (i) the Company&rsquo;s Audit Committee of the Board of Directors (appointed as a special committee to review the proposed transaction),
which is comprised solely of independent directors, and (ii) the Board of Directors, expressed a desire to purchase the Shares,
under the terms and conditions hereinafter set forth:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Accordingly, for good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AGREEMENT</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchase
and Sale of Shares</U>. Upon the execution and delivery of this Agreement, Seller shall sell, transfer, assign, bargain and convey
to Purchaser <B>24,920 </B>common shares at a purchase price of <B>$50.16 </B>per share. Seller shall deliver the Shares via a
DWAC transfer to the Preformed Line Products account at Computershare. Purchaser shall pay Seller <B>$1,249,987.20 </B>(the &ldquo;Purchase
Price&rdquo;) for the Shares by the delivery of cash by wire transfer to Seller&rsquo;s bank account or accounts. Seller has provided
Purchaser with written wire transfer instructions. The parties acknowledge and agree that the Purchase Price was negotiated in
good faith between the parties and that, in connection with such negotiations, references were made by the parties to Purchaser&rsquo;s
historical trading prices on the NASDAQ.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties of Purchaser</U>. Purchaser hereby represents and warrants to Seller as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&