Two-component epoxy-based structural adhesives are disclosed which exhibit excellent impact resistance, even when cured at approximately room temperature. The adhesives include an epoxy resin component which includes an epoxy resin and a reactive tougher. The adhesives also include a hardener component, which includes from 15 to 50 weight percent of an amine-terminated polyether, from 4 to 40 weight percent of an amine terminated rubber having a glass transition temperature of −40° C. or below, and from 10 to 30 weight percent of an amine-terminated polyamide having a melting temperature of no greater than 50° C.