<SEC-DOCUMENT>0001140361-18-046150.txt : 20181231
<SEC-HEADER>0001140361-18-046150.hdr.sgml : 20181231
<ACCEPTANCE-DATETIME>20181231160025
ACCESSION NUMBER:		0001140361-18-046150
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181230
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181231
DATE AS OF CHANGE:		20181231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STRATTEC SECURITY CORP
		CENTRAL INDEX KEY:			0000933034
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				391804239
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25150
		FILM NUMBER:		181259839

	BUSINESS ADDRESS:	
		STREET 1:		3333 WEST GOOD HOPE ROAD
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53209
		BUSINESS PHONE:		4142473333

	MAIL ADDRESS:	
		STREET 1:		3333 W GOOD HOPE ROAD
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53209
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>form8k.htm
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<TEXT>
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      <div style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">UNITED STATES</div>
      <div style="text-align: center; font-size: 14pt;"><font style="font-family: &quot;Times New Roman&quot;;">SECURITIES AND EXCHANGE COMMISSION</font></div>
      <div style="text-align: center; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;;">WASHINGTON, DC 20549</font></div>
      <div style="text-align: center; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;;"> <br>
        </font></div>
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      <div style="text-align: center; font-size: 18pt;"><font style="font-family: &quot;Times New Roman&quot;; font-weight: bold;">FORM 8-K</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">CURRENT REPORT</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">PURSUANT TO SECTION 13 OR 15(d) OF THE</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">SECURITIES EXCHANGE ACT OF 1934</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Date of Report (Date of earliest event reported):&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>December 30, 2018</u></font></font></div>
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              <div style="text-align: center; font-family: &quot;Times New Roman&quot;; font-weight: bold;">STRATTEC SECURITY CORPORATION</div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(Exact name of registrant as specified in charter)</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Wisconsin</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(State or other jurisdiction of incorporation)</font></div>
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            <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">0-25150</div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">39-1804239</font></div>
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            <td style="width: 15%; vertical-align: top;">&#160;</td>
            <td style="width: 30%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(Commission File Number)</font></div>
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            <td style="width: 10%; vertical-align: top;">&#160;</td>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(I.R.S. Employer I.D. Number)</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3333 West Good Hope Road</font></div>
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Milwaukee, WI</font></div>
            </td>
            <td style="width: 10%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
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              <div>&#160;</div>
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">53209</font></div>
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            <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(Address of Principal Executive Offices)</font></div>
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            <td style="width: 10%; vertical-align: top;">&#160;</td>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(Zip Code)</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(414) 247-3333</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(Registrant's telephone number; including area code)</font></div>
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        <div>
          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of
            the following provisions (<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">see</font> General Instruction A.2. below):</div>
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                    <td style="width: 18pt; vertical-align: top; align: right;">&#9744;</td>
                    <td style="width: auto; vertical-align: top; text-align: left;">
                      <div><font style="font-size: 10pt; font-family: 'Times New Roman';">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
                    </td>
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                    <td style="width: 18pt; vertical-align: top; align: right;">&#9744;</td>
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                      <div><font style="font-size: 10pt; font-family: 'Times New Roman';">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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                    <td style="width: 18pt; vertical-align: top; align: right;">&#9744;</td>
                    <td style="width: auto; vertical-align: top; text-align: left;">
                      <div><font style="font-size: 10pt; font-family: 'Times New Roman';">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
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                    <td style="width: 18pt; vertical-align: top; align: right;">&#9744;</td>
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                      <div><font style="font-size: 10pt; font-family: 'Times New Roman';">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
              chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</font></div>
          <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
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          <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Emerging Growth Company&#160;&#160;&#160; &#9744;</font></div>
          <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
            </font></div>
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
              or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;&#160;&#160; &#9744;</font></div>
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
            </font></div>
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            <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"><font style="font-size:
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Section 1 - Registrant's Business and Operations</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z26bcb9fc5a654ad1a4e8e73568359711" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

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                <td style="width: 63pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Item 1.01</font></td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Entry into a Material Definitive Agreement</font></div>
                </td>
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      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Effective as of December 30, 2018, ADAC-STRATTEC, LLC ("<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>ADAC-STRATTEC</u></font>"), a
        majority owned subsidiary of STRATTEC SECURITY CORPORATION (the "<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Company</u></font>"), entered into a sixth amendment (the "<font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Amendment</u></font>") to its June 28, 2012 Credit Agreement, as previously amended by an Amendment No. 1 dated January 22, 2014, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated April 27, 2016, an Amendment No. 4
        dated June 26, 2017 and an Amendment No. 5 dated March 27, 2018 (collectively, the "<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>ADAC-STRATTEC Credit Agreement</u></font>"), with BMO Harris Bank N.A., as lender.&#160; The Amendment
        extends the maturity date or term of the ADAC-STRATTEC Credit Agreement for an additional year until August 1, 2021, revises the applicable LIBOR margin for borrowings under the credit facility and makes certain other changes described in the
        Amendment.&#160; The Amendment is attached hereto as Exhibit&#160;10.1 and is incorporated herein by reference.</div>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Section 2 - Financial Information</div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left;">
        <div>
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                <td style="width: 63pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Item 2.03</font></td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant</font></div>
                </td>
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      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">As described above under Item 1.01, on December 30, 2018, ADAC-STRATTEC entered into an amendment to its credit agreement with BMO Harris
          Bank N.A. extending the term for an additional year until August 1, 2021 and making certain other changes to the ADAC-STRATTEC Credit Agreement described in the Amendment.</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Section 9 - Financial Statements and Exhibits</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left;">
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                <td style="width: 63pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Item 9.01</font></td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Financial Statements and Exhibits</font></div>
                </td>
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      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;&#160;(d)&#160;&#160;&#160;Exhibits</font></div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The following exhibit is filed herewith:</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
      <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="ex10_1.htm">Exhibit&#160;10.1</a> &#8211; Amendment No. 6 to ADAC-STRATTEC Credit Agreement, dated as of December 30, 2018, between ADAC-STRATTEC,
          LLC and BMO Harris Bank N.A., as lender.</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">SIGNATURE</font></div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
          behalf by the undersigned thereunto duly authorized.</font></div>
      <div><br>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" rowspan="1" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">STRATTEC SECURITY CORPORATION</font></div>
            </td>
            <td style="width: 10%; vertical-align: top;" rowspan="1" colspan="1">&#160;</td>
          </tr>
          <tr>
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              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Date:&#160; December 31, 2018</font></div>
            </td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 35%; vertical-align: top;">&#160;</td>
            <td style="width: 10%; vertical-align: top;" colspan="1">&#160;</td>
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            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
            </td>
            <td style="width: 35%; vertical-align: top; border-bottom: 2px solid black;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;/s/ Patrick J. Hansen</font></font></div>
            </td>
            <td style="width: 10%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Patrick J. Hansen, Senior Vice President and</font></div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Chief Financial Officer</font></div>
            </td>
            <td style="width: 10%; vertical-align: top;" colspan="1">&#160;</td>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT 10.1<br>
      <br>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>AMENDMENT NO. 6 TO CREDIT AGREEMENT</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">As of December 30, 2018</font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">BMO Harris Bank N.A.</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">770 North Water Street</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Milwaukee, Wisconsin 53202</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Attention: Corporate Banking</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Ladies and Gentlemen:</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">ADAC-Strattec, LLC, a Delaware limited liability company (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Company</u></font>&#8221;),





        hereby agrees with you as follows:</font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Definitions</u></font>.&#160; Reference is made to that certain Credit Agreement dated as of June 28, 2012 (as amended, restated, amended and restated or otherwise modified, the &#8220;<font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Credit Agreement</u></font>&#8221;) between the Company and BMO Harris Bank N.A. (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Lender</u></font>&#8221;).&#160; All capitalized terms used and not otherwise defined herein shall
        have the meanings given to such terms by the Credit Agreement as amended hereby.</font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Background</u></font>.&#160; The Company has requested that the Lender agree to (i) extend the term of the Credit Agreement to August 1, 2021, and (ii) make certain other changes to the Credit Agreement.&#160; Subject to all of the terms and
        conditions hereof, the Lender and the Company have agreed to such amendment on the terms set forth below.</font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Amendment to Credit Agreement</u></font>.&#160; Subject to all of the terms and conditions hereof, upon execution and delivery of this Amendment, the Credit Agreement shall be amended as of the date first written above as follows:</font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">a.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">All references to the Credit
        Agreement in the Credit Agreement, the Note and the Loan Documents shall refer to the Credit Agreement as amended hereby.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">b.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The definition of &#8220;LIBOR Margin&#8221;
        contained in Section 1.01 of the Credit Agreement is amended and restated in its entirety as follows:</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#8220;LIBOR Margin&#8221; means 1.25% per annum.</font></div>
    <div style="text-align: justify; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">c.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The first sentence of Section 2.01
        of the Credit Agreement is amended to change the date &#8220;August 1, 2020&#8221; to &#8220;August 1, 2021&#8221;.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">d.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Section 7.01(a) of the Credit
        Agreement is amended and restated in its entirety as follows:</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt;
          font-family: 'Times New Roman';"><u>Tangible Net Worth</u></font>.&#160; The Company shall maintain Tangible Net Worth as of the end of each fiscal quarter in an amount at least equal to (i) until June 30, 2019, $27,000,000, and (ii) commencing on
        June&#160;30,&#160;2019 and at all times thereafter, $30,000,000.</font></div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Conditions</u></font>.&#160; Notwithstanding any other provision of this Amendment, this Amendment shall not become effective unless and until:</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">a.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">It has been executed and delivered
        by all parties to the Credit Agreement as amended hereby, and acknowledged and agreed to by STRATTEC SECURITY CORPORATION, a Wisconsin corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Guarantor</u></font>&#8221;);</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">b.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Lender shall have received a
        certificate as of a recent date of the good standing (or comparable standing) of the Company under the laws of its jurisdiction of organization; and</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">c.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Company and the Guarantor shall
        have delivered such other corporate documents as Lender or its counsel may reasonably request, in form and substance satisfactory to the Lender.</font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Representations and Warranties</u></font>.&#160; The Company hereby repeats and reaffirms the representations and warranties set forth in Article V of the Credit Agreement, including without limitation the representations and warranties
        set forth in Section 5.05 thereof which are made hereunder with respect to the most recent financial statements and related information provided pursuant to Section 7.06 of the Credit Agreement.&#160; The Company also represents and warrants that (A)
        since June 30, 2018 there has been no material adverse change in the property, financial condition or business operations of the Company and its Subsidiaries, taken as a whole, and (B) the execution, delivery and performance of this Amendment are
        within the limited liability company powers of the Company, have been duly authorized by all necessary limited liability company action and do not and will not (i) require any consent or approval of the stockholders or members of the Company; (ii)
        violate any provision of the certificate of formation or limited liability company operating agreement of the Company or of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having
        applicability to the Company or any Subsidiary; (iii) require the consent or approval of, or filing or registration with, any governmental body, agency or authority; or (iv)&#160;result in any breach of or constitute a default under, or result in the
        imposition of any lien, charge or encumbrance upon any property of the Company or any Subsidiary pursuant to any indenture or other agreement or instrument under which the Company or any Subsidiary is a party or by which it or its properties may be
        bound or affected.&#160; This Amendment constitutes, and each of the documents required herein when executed and delivered hereunder will constitute, legal, valid and binding obligations of the Company or other signatory enforceable in accordance with
        its terms, except as such enforceability may be limited by bankruptcy or similar laws affecting the enforceability of creditors&#8217; rights generally.</font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt;">
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times
            New Roman';"><u>Confirmation of Agreements</u></font>.&#160; Except as expressly provided above, the Credit Agreement and the Loan Documents shall remain in full force and effect.&#160; This Amendment does not constitute a waiver or amendment of any
          term, condition or covenant in the Credit Agreement other than as specifically set forth above.&#160; Nothing contained in this Amendment or in any other document, or any course of dealing with the Company, shall be construed to imply that there is
          any agreement by the Lender to provide any waiver or agree to any amendment in the future.&#160; This Amendment shall not release, discharge or satisfy any present or future debts, obligations or liabilities to the Lender of the Company or of any
          debtor, guarantor or other person or entity liable for payment or performance of any of such debts, obligations or liabilities of the Company, or any mortgage, security interest, lien or other collateral or security for any of such debts,
          obligations or liabilities of the Company or such debtors, guarantors or other persons or entities, or waive any default except as expressly provided herein, and the Lender expressly reserves all of its rights and remedies with respect to the
          Company and all such debtors, guarantors or other persons or entities, and all such mortgages, security interests, liens and other collateral and security.&#160; This is an amendment and not a novation.&#160; The Company acknowledges and agrees that the
          obligations under the Credit Agreement and the Note exist and are owing with no offset, defense or counterclaim assertible by the Company and that the Credit Agreement, the Note and the Loan Documents are valid, binding and fully enforceable
          according to their respective terms.</font></div>
      <font style="font-size: 10pt; font-family: 'Times New Roman';"> </font></div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New
          Roman';"><u>Miscellaneous</u></font>.&#160; The Company shall be responsible for the payment of all fees and out-of-pocket disbursements incurred by the Lender in connection with the preparation, execution, delivery, administration and enforcement of
        this Amendment including all costs of collection, and including without limitation the reasonable fees and disbursements of counsel for the Lender, whether or not any transaction contemplated by this Amendment is consummated.&#160; The provisions of
        this Amendment shall inure to the benefit of any holder of the Note, and shall inure to the benefit of and be binding upon any successor to any of the parties hereto.&#160; All agreements, representations and warranties made herein shall survive the
        execution of this Amendment and the making of the loans under the Credit Agreement, as so amended.&#160; This Amendment shall be governed by and construed in accordance with the internal laws of the State of Wisconsin.&#160; This Amendment may be signed in
        any number of counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument.&#160; This Amendment is solely for the benefit of the parties hereto and their permitted successors and assigns.&#160; No other person or
        entity shall have any rights under, or because of the existence of, this Amendment.</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">[Remainder of this page is intentionally left blank; signature page follows.]</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
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    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">If the foregoing is satisfactory to you, please sign the form of acceptance below and return a signed counterpart hereof to the Company.</font></div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
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            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Very truly yours,</font></div>
          </td>
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          <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 45%; vertical-align: top;" rowspan="1">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">ADAC-STRATTEC, LLC</div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(SEAL)</font></div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Patrick J. Hansen</font></font></div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name:</font></div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Patrick J. Hansen</font></div>
          </td>
        </tr>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:</font></div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Executive Manager</font></div>
          </td>
        </tr>

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    <div><br>
    </div>
    <div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature page to ADAC-Strattec, LLC</div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Amendment No. 6 to Credit Agreement]</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
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    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Agreed to as of the date first above written.</font></div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
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          <td style="width: 5%; vertical-align: top;" rowspan="1" colspan="2">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">BMO HARRIS BANK N.A.</font></div>
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          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
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          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Brendan Moran<br>
                </font></font></div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name:</font></div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">Brendan Moran</font></font></div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:</font></div>
          </td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">Vice President</font></font></div>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature page to ADAC-Strattec, LLC</div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Amendment No. 6 to Credit Agreement]</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">ACKNOWLEDGEMENT AND CONSENT OF GUARANTOR</font></div>
    <div><br>
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    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The undersigned Guarantor hereby consents to the foregoing Amendment No. 6 to Credit Agreement and agrees that its Corporate Guarantee
        Agreement dated as of June 28, 2012, and all collateral or security therefor, if any, shall remain in full force and effect after giving effect to the foregoing Amendment.</font></div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Dated as of the date first above written.</font></div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">STRATTEC SECURITY CORPORATION</font></div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:</font></div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Frank J. Krejci</font></font></div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name:</font></div>
          </td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Frank J. Krejci</font></div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:</font></div>
          </td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">President and Chief Executive Officer</font></div>
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          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">And by:&#160; <br>
              </font></div>
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          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Patrick J. Hansen</font></font></div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name:</font></div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Patrick J. Hansen</font></div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Senior Vice President, Chief Financial Officer and Secretary</font></div>
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