<SEC-DOCUMENT>0001140361-19-019199.txt : 20191028
<SEC-HEADER>0001140361-19-019199.hdr.sgml : 20191028
<ACCEPTANCE-DATETIME>20191028161625
ACCESSION NUMBER:		0001140361-19-019199
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20191028
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:		20191028
DATE AS OF CHANGE:		20191028

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:		191173191

	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
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>8-K
<TEXT>
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    <div style="text-align: center; font-size: 14pt;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt;">WASHINGTON, DC 20549</div>
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    <div style="text-align: center; font-weight: bold;"> <br>
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    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center;">CURRENT REPORT</div>
    <div style="text-align: center;">PURSUANT TO SECTION 13 OR 15(d) OF THE</div>
    <div style="text-align: center;">SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center;">Date of Report (Date of earliest event reported):&#160; <u>October 28, 2019</u></div>
    <div><br>
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    <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="z369c09e684ac4b36bacb9edf58d36168">

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            <div style="text-align: center; font-weight: bold;">STRATTEC SECURITY CORPORATION</div>
          </td>
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        <tr>
          <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">(Exact name of registrant as specified in charter)</div>
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            <div style="text-align: center;">Wisconsin</div>
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            <div style="text-align: center;">(State or other jurisdiction of incorporation)</div>
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            <div style="text-align: center;">0-25150</div>
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          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">39-1804239</div>
          </td>
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          <td style="width: 49%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">(Commission File Number)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(I.R.S. Employer I.D. Number)</div>
          </td>
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          <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">3333 West Good Hope Road</div>
            <div style="text-align: center;">Milwaukee, WI</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
            <div style="text-align: center;">53209</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(Address of Principal Executive Offices)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
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    <table cellspacing="0" cellpadding="0" align="center" style="font-family: 'Times New Roman'; font-size: 10pt; width: 80%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zd02457621bbc47618740a4bd71f41333">

        <tr>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: center;">(414) 247-3333</div>
          </td>
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          <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">(Registrant's telephone number; including area code)</div>
          </td>
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    </table>
    <div><br>
    </div>
    <div style="margin-left: 18pt;">Securities registered or to be registered pursuant to Section 12(b) of the Act:</div>
    <div><br>
    </div>
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          <td style="width: 34.68%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Title of each class</div>
          </td>
          <td style="width: 25%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Trading symbol(s)</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Name of exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 34.68%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Common stock, $.01 par value</div>
          </td>
          <td style="width: 25%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0);">STRT</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0);">The Nasdaq Global Stock Market</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>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-style: italic;">see</font> General Instruction A.2.
      below):</div>
    <div><br>
    </div>
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            <td style="vertical-align: top; width: 18pt;">
              <div style="text-align: left;">&#9744;</div>
            </td>
            <td style="vertical-align: bottom; width: auto; text-align: left;">
              <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
            </td>
          </tr>

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    <div><br>
    </div>
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      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zf30f1612c80f4520a17782db1d3949c1" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

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              <div style="text-align: left;">&#9744;</div>
            </td>
            <td style="vertical-align: bottom; width: auto; text-align: left;">
              <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
            </td>
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    <div><br>
    </div>
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      <div>
        <div>
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                <tr style="vertical-align: top;">
                  <td style="vertical-align: top; width: 18pt;">
                    <div>&#9744;</div>
                  </td>
                  <td style="vertical-align: bottom; width: auto; text-align: left;">
                    <div>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
                  </td>
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        </div>
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            <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="za504ef6494d940b7a7c2f73c5d261ac0" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

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                  <td style="vertical-align: top; width: 18pt;">
                    <div>&#9744;</div>
                  </td>
                  <td style="vertical-align: bottom; width: auto; text-align: left;">
                    <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
    </div>
    <div><br>
    </div>
    <div style="color: rgb(33, 29, 30);">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).</div>
    <div style="color: rgb(33, 29, 30);"> <br>
    </div>
    <div style="text-align: right;"><font style="color: rgb(33, 29, 30);">Emerging Growth Company</font>&#160; &#9744;<br>
    </div>
    <div>&#160;</div>
    <div style="color: rgb(33, 29, 30);">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. &#9744;</div>
    <div><br>
    </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;"></div>
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    <div style="text-align: center;"><font style="font-weight: bold;">Section 1 - Registrant's Business and Operations</font></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z80a25050ed8643bc8fd6790239d9ba6d" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 54pt;">
              <div style="text-align: left; font-weight: bold;">Item 1.01</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; font-weight: bold;">Entry into a Material Definitive Agreement</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Effective as of October 28, 2019, STRATTEC SECURITY CORPORATION (the "<u>Company</u>"), entered into a sixth amendment (the "<u>STRATTEC Amendment</u>") to its August 1, 2011 Credit Agreement, as previously amended by an
      Amendment No. 1 dated December 27, 2013, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated June 24, 2016, an Amendment No. 4 dated June 26, 2017 and an Amendment No. 5 dated September 28, 2018 (collectively, the "<u>Credit Agreement</u>"),

      with BMO Harris Bank N.A., as lender.&#160; The STRATTEC Amendment extends the maturity date or term of the Credit Agreement for an additional year until August 1, 2022 and makes certain other changes described in the STRATTEC Amendment.&#160; The STRATTEC
      Amendment is attached hereto as Exhibit 4.1 and is incorporated herein by reference.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Additionally, effective as of October 28, 2019, ADAC-STRATTEC, LLC ("<u>ADAC-STRATTEC</u>"), a majority owned subsidiary of the Company, entered into a seventh amendment (the "<u>ADAC-STRATTEC Amendment</u>") 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, an Amendment No. 5 dated March 27,
      2018 and an Amendment No. 6 dated December 30, 2018 (collectively, the "<u>ADAC-STRATTEC Credit Agreement</u>"), with BMO Harris Bank N.A., as lender.&#160; The ADAC-STRATTEC Amendment extends the maturity date or term of the ADAC-STRATTEC Credit
      Agreement for an additional year until August 1, 2022 and makes certain other changes described in the ADAC-STRATTEC Amendment.&#160; The ADAC-STRATTEC Amendment is attached hereto as Exhibit 4.2 and is incorporated herein by reference.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Section 2 - Financial Information</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z1feefb22783e40ad97db2a4d931c7da2" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 54pt;">
              <div style="text-align: left; font-weight: bold;">Item 2.03</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; font-weight: bold;">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">As described above under Item 1.01, on October 28, 2019, each of the Company and ADAC-STRATTEC entered into amendments to their respective credit agreements with BMO Harris Bank N.A. extending the term of each credit
      facility for an additional year until August 1, 2022 and making certain other changes thereto described in the STRATTEC Amendment or ADAC-STRATTEC Amendment, as applicable.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Section 9 - Financial Statements and Exhibits</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="za8fd0e3ed8484544bd17cb432bc87bf3" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 54pt;">
              <div style="text-align: left; font-weight: bold;">Item 9.01</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; font-weight: bold;">Financial Statements and Exhibits</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z31a67e8737d04dc3ac5f4a2200e28916" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 18pt;">
              <div style="text-align: left;">(d)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left;">Exhibits</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-indent: 36pt;"><br>
    </div>
    <div style="text-indent: 36pt;">The following exhibits are filed herewith:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><a href="ex4_1.htm">Exhibit 4.1</a> &#8211; Amendment No. 6 to STRATTEC Credit Agreement, dated as of October 28, 2019,
      between STRATTEC SECURITY CORPORATION and BMO Harris Bank N.A., as lender.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><a href="ex4_2.htm">Exhibit 4.2</a> &#8211; Amendment No. 7 to ADAC-STRATTEC Credit Agreement, dated as of October 28,
      2019, between ADAC-STRATTEC, LLC and BMO Harris Bank N.A., as lender.</div>
    <div><br>
    </div>
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    <div style="text-align: center;">SIGNATURE</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">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.</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z812de535136d40ab8f590b6252ecf12f">

          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%;">&#160;</td>
            <td colspan="3" style="vertical-align: top;">
              <div>STRATTEC SECURITY CORPORATION</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="vertical-align: top; width: 50%;">
              <div>Date:&#160; October 28, 2019</div>
            </td>
            <td rowspan="1" colspan="3" style="vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%; padding-bottom: 2px;">&#160;</td>
            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="width: 37%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Patrick J. Hansen</td>
            <td style="width: 10%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="vertical-align: top; width: 50%;">&#160;</td>
            <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
            <td colspan="2" rowspan="1" style="vertical-align: top;">
              <div>Patrick J. Hansen, Senior Vice President and</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="vertical-align: top; width: 50%;">&#160;</td>
            <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
            <td colspan="2" rowspan="1" style="vertical-align: top;">
              <div>Chief Financial Officer</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div> <br>
      </div>
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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>ex4_1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
<html>
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    <!-- Licensed to: Summit
         Document created using EDGARfilings PROfile 6.5.0.0
         Copyright 1995 - 2019 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
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  <div style="text-align: right;"><b>Exhibit 4.1</b> </div>
  <div><br>
  </div>
  <div>
    <div></div>
    <div style="text-align: center; font-weight: bold;"><u>AMENDMENT NO. 6 TO CREDIT AGREEMENT</u></div>
    <div><br>
    </div>
    <div style="text-align: right;">As of October 28, 2019</div>
    <div><br>
    </div>
    <div>BMO Harris Bank N.A.</div>
    <div>770 North Water Street</div>
    <div>Milwaukee, Wisconsin 53202</div>
    <div>Attention: Corporate Banking</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">&#160;STRATTEC SECURITY CORPORATION, a Wisconsin corporation (the &#8220;<u>Company</u>&#8221;), hereby agrees with you as follows:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">1.&#160;&#160;&#160;&#160; &#160;&#160; &#160; &#160; <u>Definitions</u>.&#160; Reference is made to that certain Credit Agreement dated as of August 1, 2011 (as amended, restated, amended and restated or otherwise modified, the &#8220;<u>Credit
        Agreement</u>&#8221;) between the Company and BMO Harris Bank N.A. (the &#8220;<u>Lender</u>&#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.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Background</u>.&#160; The Company has requested that the Lender agree to extend the term of the Credit Agreement to August 1, 2022 and 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 amendments on the terms set forth below.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Amendments to Credit Agreement</u>.&#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:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a.&#160;&#160;&#160; &#160; &#160;&#160; 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.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">b.&#160;&#160;&#160;&#160;&#160;&#160;&#160; The first sentence of Section 2.01 of the Credit Agreement is amended to change the date &#8220;August 1, 2021&#8221; to &#8220;August 1, 2022&#8221;.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">c.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section 3.06 of the Credit Agreement is amended to add the following to the end of such Section:</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 72pt;">&#8220;Notwithstanding the foregoing, if at any time the Lender determines (which determination shall be conclusive absent manifest error) that (i) the circumstances set forth in clause (b) of the
      definition of LIBOR Rate or in Section 3.06(a) or (b) have arisen and such circumstances are unlikely to be temporary (each a &#8220;<u>Transition Event</u>&#8221;) or (ii) the circumstances set forth in clause (b) of the definition of LIBOR Rate or in Section
      3.06(a) or (b) have not arisen but the supervisor for the administrator of the LIBOR Index Rate or a Governmental Authority having jurisdiction over the Lender has made a public statement identifying a specific date (the &#8220;<u>Transition Date</u>&#8221;)
      after which the LIBOR Index Rate shall no longer be used for determining interest rates for loans, then the Lender and the Company shall endeavor to establish an alternate rate of interest to the LIBOR Rate that gives due consideration to the then
      prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to
      this Agreement as may be applicable.&#160; From and after (a) the occurrence of a Transition Event, (b) the Transition Date, or (c) the date on which the administrator of the LIBOR Rate permanently or indefinitely ceases to provide the LIBOR Rate, and
      until an alternate rate of interest shall be determined in accordance with this Section 3.06, (i) any request by the Company for the conversion of any Revolving Loan to, or the continuation of any Revolving Loan as, an Adjusted LIBOR Rate Loan shall
      be ineffective and (ii) if any notice of borrowing requests a borrowing of Adjusted LIBOR Rate Loans, such borrowing shall be made as a borrowing of Adjusted Base Rate Loans; provided that, if such alternate rate of interest shall be less than zero,
      such rate shall be deemed to be zero for the purposes of this Agreement.&#8221;</div>
    <div style="text-align: justify;"> <br>
    </div>
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    <div style="text-align: justify; text-indent: 36pt;">4.&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <u>Conditions</u>.&#160; Notwithstanding any other provision of this Amendment, this Amendment shall not become effective unless and until:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; It has been executed and delivered by all parties to the Credit Agreement as amended hereby;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">b.&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">c.&#160;&#160;&#160;&#160;&#160; &#160; The Company shall have delivered such other corporate documents as Lender or its counsel may reasonably request, in form and substance satisfactory to the Lender.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">5.&#160;&#160;&#160; &#160; &#160; &#160; &#160; <u>Representations and Warranties</u>.&#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, 2019 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 corporate powers of the Company, have been duly authorized by all necessary corporate action and do not and will not (i) require any consent or approval of the shareholders of the Company;
      (ii) violate any provision of the articles of incorporation or by-laws 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) 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.</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div style="text-align: justify; text-indent: 36pt;">6.&#160;&#160;&#160;&#160; &#160; &#160;&#160; <u>Confirmation of Agreements</u>.&#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.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">7.&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; <u>Miscellaneous</u>.&#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.</div>
    <div>&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">If the foregoing is satisfactory to you, please sign the form of acceptance below and return a signed counterpart hereof to the Company.</div>
    <div>&#160;</div>
    <div> </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zd4349cebb135402ea5df901d1dd075f6">

          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">
              <div style="text-align: justify;">Very truly yours,</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">
              <div>STRATTEC SECURITY CORPORATION</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
              <div>(CORPORATE SEAL)</div>
            </td>
            <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="width: 3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Frank J. Krejci</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div>
                <div>Name:</div>
              </div>
            </td>
            <td style="width: 45%; vertical-align: top;">
              <div>Frank J. Krejci</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div>Title:</div>
            </td>
            <td style="width: 45%; vertical-align: top;">
              <div>President and Chief Executive Officer</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;"><br>
            </td>
            <td style="width: 6%; vertical-align: top; padding-bottom: 2px;">
              <div>And by:</div>
            </td>
            <td style="width: 44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Patrick J. Hansen</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td style="width: 6%; vertical-align: top;">
              <div>Name:</div>
            </td>
            <td style="width: 44%; vertical-align: top;">
              <div>Patrick J. Hansen</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td style="width: 6%; vertical-align: top;">
              <div>
                <div>Title:</div>
              </div>
            </td>
            <td style="width: 44%; vertical-align: top;">
              <div>Senior Vice President, Chief Financial Officer and Secretary</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
    </div>
    <div></div>
    <div></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Agreed to as of the date first above written.</div>
    <div>&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z6326e619833d4f0885025d85c721009b">

          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%;">&#160;</td>
            <td colspan="2" rowspan="1" style="vertical-align: top;">
              <div>BMO HARRIS BANK N.A.</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%;">&#160;</td>
            <td colspan="2" rowspan="1" style="vertical-align: top;">&#160;<br>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%; padding-bottom: 2px;">&#160;</td>
            <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 45%;">
              <div>/s/ Mark Czarnecki</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%; padding-bottom: 2px;">&#160;</td>
            <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
              <div>Name:</div>
            </td>
            <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Mark Czarnecki</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%; padding-bottom: 2px;">&#160;</td>
            <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
              <div>Title:</div>
            </td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 45%;">
              <div>Senior Vice President</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div>
        <div style="text-align: center;"> <br>
        </div>
        <div style="text-align: center;">[Signature page to Strattec Security Corporation</div>
        <div style="text-align: center;">Amendment No. 6 to Credit Agreement]</div>
      </div>
      <div> <br>
      </div>
      <div> <br>
      </div>
      <div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>3
<FILENAME>ex4_2.htm
<DESCRIPTION>EXHIBIT 4.2
<TEXT>
<html style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">
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    <!-- Licensed to: Summit
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  <div style="font-weight: bold; text-align: right; font-size: 10pt;">Exhibit 4.2<br>
  </div>
  <div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>AMENDMENT NO. 7 TO CREDIT AGREEMENT</u></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">As of October 28, 2019</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">BMO Harris Bank N.A.</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">770 North Water Street</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Milwaukee, Wisconsin 53202</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Attention: Corporate Banking</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Ladies and Gentlemen:</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#160;ADAC-Strattec, LLC, a Delaware limited liability company (the &#8220;<u>Company</u>&#8221;), hereby agrees with you as follows:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; &#160; &#160; &#160; <font style="font-family: 'Times New Roman';"><u>Definitions</u>.&#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;<u>Credit Agreement</u>&#8221;) between the Company and BMO Harris Bank N.A. (the &#8220;<u>Lender</u>&#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></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <font style="font-family: 'Times New Roman';"><u>Background</u>.&#160; The Company has
          requested that the Lender agree to extend the term of the Credit Agreement to August 1, 2022 and 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 amendments on the terms set forth below.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3.</font><font style="font-size: 10pt;">&#160;&#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><u>Amendments to Credit Agreement</u>.&#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></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">a.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="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></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">b.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="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, 2021&#8221; to &#8220;August 1, 2022&#8221;.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">c.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Section 3.06 of the
          Credit Agreement is amended to add the following to the end of such Section:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;Notwithstanding the foregoing, if at any time the Lender determines (which determination shall be conclusive absent manifest error) that (i) the
      circumstances set forth in clause (b) of the definition of LIBOR Rate or in Section 3.06(a) or (b) have arisen and such circumstances are unlikely to be temporary (each a &#8220;<u>Transition Event</u>&#8221;) or (ii) the circumstances set forth in clause (b) of
      the definition of LIBOR Rate or in Section 3.06(a) or (b) have not arisen but the supervisor for the administrator of the LIBOR Index Rate or a Governmental Authority having jurisdiction over the Lender has made a public statement identifying a
      specific date (the &#8220;<u>Transition Date</u>&#8221;) after which the LIBOR Index Rate shall no longer be used for determining interest rates for loans, then the Lender and the Company shall endeavor to establish an alternate rate of interest to the LIBOR
      Rate that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate
      of interest and such other related changes to this Agreement as may be applicable.&#160; From and after (a) the occurrence of a Transition Event, (b) the Transition Date, or (c) the date on which the administrator of the LIBOR Rate permanently or
      indefinitely ceases to provide the LIBOR Rate, and until an alternate rate of interest shall be determined in accordance with this Section 3.06, (i) any request by the Company for the conversion of any Revolving Loan to, or the continuation of any
      Revolving Loan as, an Adjusted LIBOR Rate Loan shall be ineffective and (ii) if any notice of borrowing requests a borrowing of Adjusted LIBOR Rate Loans, such borrowing shall be made as a borrowing of Adjusted Base Rate Loans; provided that, if such
      alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.&#8221;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; &#160;&#160; &#160;&#160; <font style="font-family: 'Times New Roman';"><u>Conditions</u>.&#160; Notwithstanding
          any other provision of this Amendment, this Amendment shall not become effective unless and until:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">a.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="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;<u>Guarantor</u>&#8221;);</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">b.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="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></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">c.</font><font style="font-size: 10pt;">&#160;&#160; &#160;&#160;&#160; <font style="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></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">5.</font><font style="font-size: 10pt;">&#160;&#160; &#160; &#160; &#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><u>Representations and Warranties</u>.&#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, 2019 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) 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></font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> <br>
        </font></font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">6.</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; &#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><u>Confirmation of Agreements</u>.&#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></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">7.</font><font style="font-size: 10pt;"> &#160; &#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><u>Miscellaneous</u>.&#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></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Remainder of this page is intentionally left blank; signature page follows.]</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">If the foregoing is satisfactory to you, please sign the form of acceptance below and return a signed counterpart hereof to the Company.</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">
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          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">
              <div style="text-align: justify;">Very truly yours,</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">
              <div>ADAC-STRATTEC, LLC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
              <div>(SEAL)</div>
            </td>
            <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="width: 3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 45%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Patrick J. Hansen</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div>
                <div>Name:</div>
              </div>
            </td>
            <td style="width: 45%; vertical-align: top;">
              <div>Patrick J. Hansen</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div>Title:</div>
            </td>
            <td style="width: 45%; vertical-align: top;">
              <div>Executive Manager</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div>
        <div style="text-align: center;"> <br>
        </div>
        <div style="text-align: center;">[Signature page to ADAC-Strattec, LLC</div>
        <div style="text-align: center;">Amendment No. 7 to Credit Agreement]</div>
      </div>
      <div> <br>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Agreed to as of the date first above written.</div>
    <div style="font-size: 10pt;">
      <div> <br>
      </div>
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          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%;">&#160;</td>
            <td colspan="2" rowspan="1" style="vertical-align: top;">
              <div>BMO HARRIS BANK N.A.</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%;">&#160;</td>
            <td colspan="2" rowspan="1" style="vertical-align: top;">&#160;<br>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%; padding-bottom: 2px;">&#160;</td>
            <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 45%;">
              <div>/s/ Mark Czarnecki</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%; padding-bottom: 2px;">&#160;</td>
            <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
              <div>Name:</div>
            </td>
            <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Mark Czarnecki</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="vertical-align: top; width: 50%; padding-bottom: 2px;">&#160;</td>
            <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
              <div>Title:</div>
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            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 45%;">
              <div>Senior Vice President</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div>
        <div style="text-align: center; font-family: 'Times New Roman';"> <br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman';">[Signature page to ADAC-Strattec, LLC</div>
        <div style="text-align: center; font-family: 'Times New Roman';">Amendment No. 7 to Credit Agreement]</div>
      </div>
      <div> <br>
      </div>
    </div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ACKNOWLEDGEMENT AND CONSENT OF GUARANTOR</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The undersigned Guarantor hereby consents to the foregoing Amendment No. 7 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.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Dated as of the date first above written.</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">
              <div style="text-align: justify;">
                <div style="text-align: left;">STRATTEC SECURITY CORPORATION</div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="3" rowspan="1" style="vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;"><br>
            </td>
            <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="width: 3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 45%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Frank J. Krejci</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div>
                <div>Name:</div>
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            <td style="width: 45%; vertical-align: top;">
              <div>Frank J. Krejci</div>
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          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div>Title:</div>
            </td>
            <td style="width: 45%; vertical-align: top;">
              <div>President and Chief Executive Officer</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;"><br>
              </td>
              <td style="width: 6%; vertical-align: top; padding-bottom: 2px;">
                <div>And by:</div>
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              <td style="width: 44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Patrick J. Hansen</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;"><br>
              </td>
              <td style="width: 6%; vertical-align: top;">
                <div>Name:</div>
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              <td style="width: 44%; vertical-align: top;">
                <div>Patrick J. Hansen</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;"><br>
              </td>
              <td style="width: 6%; vertical-align: top;">
                <div>
                  <div>Title:</div>
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              <td style="width: 44%; vertical-align: top;">
                <div>
                  <div>Senior Vice President, Chief Financial Officer and Secretary</div>
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              </td>
            </tr>

        </table>
        <div> <br>
        </div>
        <div> <br>
        </div>
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