<SEC-DOCUMENT>0000909518-15-000209.txt : 20150717
<SEC-HEADER>0000909518-15-000209.hdr.sgml : 20150717
<ACCEPTANCE-DATETIME>20150717093136
ACCESSION NUMBER:		0000909518-15-000209
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150713
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150717
DATE AS OF CHANGE:		20150717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EASTERN CO
		CENTRAL INDEX KEY:			0000031107
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060330020
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			0102

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35383
		FILM NUMBER:		15992873

	BUSINESS ADDRESS:	
		STREET 1:		112 BRIDGE ST
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
		BUSINESS PHONE:		2037292255

	MAIL ADDRESS:	
		STREET 1:		112 BRIDGE STREET
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>mm07-1515_8k.htm
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">CURRENT REPORT</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">the Securities Exchange Act of 1934</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 18pt; TEXT-DECORATION: underline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="DISPLAY: inline">The Eastern Company</font></font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">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></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font id="TAB1" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; MARGIN-LEFT: 36pt"></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">ITEM 8.01 &#8211; Other Events</font></font></div>

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<div style="MARGIN-LEFT: 72pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline; BACKGROUND-COLOR: #ffffff">On April 17, 2015, Barington Companies Equity Partners, L.P. (&#8220;Barington&#8221;) filed a purported class action lawsuit (Barington Companies Equity Partners, L.P. v. The Eastern Company, et. al., Case No. UWY-CV-15-026955-S (the &#8220;Action&#8221;)) against The Eastern Company (the &#8220;Company&#8221;) and its board of directors (the &#8220;Board&#8221;) in the Superior Court of Waterbury, Connecticut (the &#8220;Court&#8221;).&#160; The Action alleged, among other things, that the Eastern Board breached its fiduciary duties by amending the Company&#8217;s bylaws to allow the board to fill vacancies resulting from an expansion of the number of board seats without shareholder approval.&#160; The Action also challenged the Board&#8217;s announced intention to increase the size of the Board and appoint a new director after the May 20, 2015 Annual Meeting without shareholder approval and sought, among other things, injunctive relief preventing the Board from nominating a new director to fill a vacancy that is the result of an expansion of the number of board seats. &#160;</font></font></div>

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<div style="MARGIN-LEFT: 72pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">On July 13, 2015, the Court approved a Stipulation and Order of Dismissal (the &#8220;Stipulation&#8221;) entered into by the parties in connection with the Action. The Stipulation requires that notice of its terms be given to shareholders of the Company in the form of this Current Report on Form 8-K.&#160;&#160;The Stipulation provides for, among other things, the dismissal of the Action after the requisite notice period to shareholders has expired.&#160;&#160;The text of the Stipulation is attached as Exhibit 99.1 to this Current Report on Form 8-K, is incorporated herein by reference and should be read in its entirety.</font></div>

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<div style="MARGIN-LEFT: 72pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">99.1&#160;&#160;&#160;Stipulation and Order of Dismissal</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">SIGNATURES</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font id="TAB1" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; MARGIN-LEFT: 36pt"></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">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, hereunto duly authorized.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Date: July 17, 2015&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial">By: <font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">/s/John L. Sullivan III</font></font></font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">John L. Sullivan III</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Vice President and Chief Financial Officer</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>mm07-1515_8ke991.htm
<TEXT>
<html>
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<div style="TEXT-ALIGN: right"><font style="TEXT-DECORATION: underline; FONT-WEIGHT: bold; FONT-STYLE: italic">EXHIBIT 99.1</font><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Case No.&#160;UWY-CV-15-026955-S</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">BARINGTON COMPANIES EQUITY PARTNERS, L.P., on behalf of itself and on behalf of all others similarly situated,</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">AT WATERBURY</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">THE EASTERN COMPANY, JOHN W. EVERETS, CHARLES W. HENRY, LEONARD F. LEGANZA, DAVID C. ROBINSON, and DONALD S. TUTTLE, III.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">July 13, 2015</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="TEXT-DECORATION: underline; DISPLAY: inline">STIPULATION AND ORDER OF DISMISSAL</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">&#160;</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on April 12, 2015, Barington Companies Equity Partners, L.P. (&#8220;Barington&#8221; or &#8220;Plaintiff&#8221;) served a shareholder demand letter (the &#8220;Demand&#8221;) on the board of directors (the &#8220;Board&#8221;) of The Eastern Company (&#8220;Eastern&#8221; or the &#8220;Company&#8221;);</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on April 17, 2015, Barington filed a complaint (the &#8220;Complaint&#8221;) against defendants John W. Everets, Charles W. Henry, Leonard F. Leganza, David C. Robinson, and Donald S. Tuttle, III (&#8220;Board Defendants&#8221;), as members of the Board, and Eastern (Eastern, together with the Board Defendants, &#8220;Defendants&#8221;);</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font size="3">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, the Complaint sought, among other things, an Order from the Court enjoining the enforcement of the Bylaw Amendment and the nomination of Ozanne to fill a vacancy that is the result of an expansion of the number of Board seats;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS on April 17, 2015, Plaintiff filed a Motion for Expedited Proceedings (the &#8220;Motion to Expedite&#8221;) in which it sought (i) expedited discovery; and (ii) an expedited preliminary injunction hearing before May 20, 2015;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on April 21, 2015, Plaintiff served its First Request for Production of Documents on Defendants;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on April 24, 2015, Defendants filed their Opposition to the Motion to Expedite;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on April 27, 2015, the Court held a hearing to consider Plaintiff&#8217;s Motion to Expedite;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on April 29, 2015, the Court entered an Order:&#160;&#160;(1) denying the Motion to Expedite because Plaintiff&#8217;s claims were derivative and allowing Defendants to respond to Plaintiff&#8217;s demand within the statutory 90 day period would not cause irreparable harm; (2) denying Defendants&#8217; request that the case be dismissed for lack of standing and/or justiciability; and (3) staying this Action until July 11, 2015;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on May 29, 2015, Eastern announced that it will not appoint a sixth director to the Board without shareholder approval (including Mr.&#160;Ozanne);</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on June 23, 2015, Barington withdrew the Demand;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, Plaintiff wishes to voluntarily dismiss the Action with prejudice as to Plaintiff and without prejudice as to all other Eastern public shareholders;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, Fitzpatrick Mariano Santos Sousa P.C. and Bernstein Litowitz </font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Berger &amp; Grossmann LLP (together, &#8220;Plaintiff&#8217;s Counsel&#8221;), believe that Eastern&#8217;s decision not to appoint a sixth director to the Board without shareholder approval and to rescind the intended appointment of Mr.&#160;Ozanne was caused in part by this Action and a valuable benefit was thereby conferred on Eastern and Eastern&#8217;s shareholders;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, on July 10, 2015, Defendants agreed that Eastern or Eastern&#8217;s insurers would pay to Plaintiff's Counsel, $235,000 in attorney&#8217;s fees in connection with Plaintiff's Counsel&#8217;s prosecution of this Action, subject to the approval of the Court;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, the parties agree that this Court will continue to have jurisdiction to hear any objections related to Plaintiff&#8217;s voluntary dismissal of this Action and/or the payment of the agreed-upon $235,000 in Plaintiff&#8217;s Counsel&#8217;s fees and expenses;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">IT IS HEREBY STIPULATED AND ORDERED, pursuant to Connecticut Business Corporations Act Section 33-725, that:</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">1.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company shall file this Stipulation and Order of Dismissal as an attachment to a Form 8-K to be issued no more than five (5) calendar days following the entry of this Stipulation and Order of Dismissal (&#8220;Order&#8221;).&#160;&#160;The filing by Eastern of this Order as an attachment to a Form 8-K constitutes adequate notice for purposes of Connecticut Business Corporation Act Section 33-725 (the &#8220;Notice&#8221;);</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">2.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company shall file with the Court an affidavit that the Notice has been made (the &#8220;Affidavit&#8221;) in accordance with paragraph 1 above no later than three (3) calendar days after the notice is publicly filed;</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">3.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On the day following the thirtieth (30th) day following the filing of the Affidavit, the parties shall notify the Court whether any </font></div>

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<div style="MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; TEXT-INDENT: 72pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Eastern shareholder who would otherwise have standing to pursue the claims set forth in the Complaint has filed with the Court (or otherwise provided noticed to the parties) that such shareholder objects to the dismissal of the Action or to the payment of Plaintiff&#8217;s Counsel&#8217;s fees;</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">4.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">If a shareholder timely objects to the dismissal of the Action or to Plaintiff&#8217;s counsel&#8217;s fees, the Court shall conduct a hearing on August 31, 2015, to consider the objection;</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">5.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">If there are no objections to the dismissal of the Action or to the payment of Plaintiff&#8217;s Counsel&#8217;s fees, the Court will enter an Order providing that:</font></div>

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<div style="LINE-HEIGHT: 1.75"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">a.&#160;&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">The Court will no longer retain jurisdiction over this Action.</font></div>
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<div style="TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.75; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">6.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Within 7 calendar days of the date of the entry of an Order dismissing this Action with prejudice as to Plaintiff, Eastern or its insurers shall pay to Plaintiff&#8217;s Counsel the agreed-upon amount of $235,000.</font></div>

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<td align="left" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">/s/ <font style="FONT-STYLE: italic; DISPLAY: inline">Christopher J. Orrico</font></font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Mark Lebovitch</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Jeroen van Kwawegen</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">1285 Avenue of the Americas</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">James K Robertson, Jr.</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Ann H. Rubin</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">50 Leavenworth Street</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Waterbury, Connecticut 06721</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">FITZPATRICK MARIANO SANTOS SOUSA P.C.</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Edward G. Fitzpatrick</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Alicia K. Perillo</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">203 Church Street</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Naugatuck, CT 06770</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">(203) 729-4555</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-STYLE: italic; DISPLAY: inline">Attorneys for Barington Companies Equity Partners, L.P.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">WEIL, GOTSHAL &amp; MANGES LLP</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">John A. Neuwirth</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Stefania D. Venezia</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Robert S. Ruff III</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Amanda K. Pooler</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">767 Fifth Avenue</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">New York, New York 10153</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">(212) 310-8000</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-STYLE: italic; DISPLAY: inline">Attorneys for Defendants The Eastern Company, Leonard F. Leganza, John W. Everets, Charles W. Henry, David C. Robinson and Donald S. Tuttle, III</font></div>
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<td width="33%"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">IT IS HEREBY SO-ORDERED BY THE COURT:&#160;</font></td>
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<td width="55%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">/s/ &#160;K.A. Dooley</font></td>
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<td width="55%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Dooley, J.</font></td>
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