0001144204-18-005489 Sample Contracts

Vintage Capital Management, LLC
Shareholder Agreement • February 2nd, 2018 • Vintage Capital Management LLC • Heating equipment, except electric & warm air furnaces

Reference is made to the Agreement, dated as of January 3, 2018 (the “Agreement”), among Babcock & Wilcox Enterprises, Inc., Vintage Capital Management, LLC, Kahn Capital Management, LLC and Brian R. Kahn. Capitalized terms used in this letter and not otherwise defined have the meaning given to them in the Agreement.

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