RIGHTS AGREEMENT Dated as of December 20, 2007 between TWIN DISC, INCORPORATED and MELLON INVESTOR SERVICES LLC, as Rights AgentRights Agreement • December 20th, 2007 • Twin Disc Inc • General industrial machinery & equipment • New York
the Company having a value equal to two times the exercise price of the Right. However, rights are not exercisable as described in this paragraph until such time as the Rights are no longer redeemable by the Company as set forth below. Notwithstanding any of the foregoing, if any person becomes an Acquiring Person all Rights that are, or (under certain circumstances specified in the Rights Agreement) were, beneficially owned by an Acquiring Person will become null and void.
