# EDGAR Filing Document

**Accession Number:** 0001921963
**File Stem:** 0001104659-23-023852
**Filing Date:** 2023-2
**Character Count:** 1733089
**Document Hash:** 9cc70d68dc94a266095329e840fdb3dd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-023852.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001104659-23-023852

**CONFORMED SUBMISSION TYPE**: S-1

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Atmus Filtration Technologies Inc.
- **CENTRAL INDEX KEY:** 0001921963
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269894
- **FILM NUMBER:** 23649386

**BUSINESS ADDRESS:**
- **STREET 1:** 26 CENTURY BOULEVARD
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37214
- **BUSINESS PHONE:** 6155147339

**MAIL ADDRESS:**
- **STREET 1:** 26 CENTURY BOULEVARD
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37214

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FILT Red, Inc.
- **DATE OF NAME CHANGE:** 20220406

[**TABLE OF CONTENTS**](#TOC)

#### As filed with the Securities and Exchange Commission on February 21, 2023

#### Registration No. 333-

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM S-1

#### REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

### Atmus Filtration Technologies Inc.
(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** <br> (State or Other Jurisdiction of <br> Incorporation or Organization)  | **3714** <br> (Primary Standard Industrial <br> Classification Code Number)  | **88-1611079** <br> (I.R.S. Employer <br> Identification Number)  |

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#### 26 Century Boulevard Nashville, Tennessee 37214 (615) 514-7339
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal Executive Offices)

#### Toni Y. Hickey 26 Century Boulevard Nashville, Tennessee 37214 (615) 514-7339
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)

---

| | |
|:---|:---|
| **Mark Mandel, Esq. <br> Baker & McKenzie LLP <br> 452 Fifth Avenue <br> New York, New York 10018 <br> (212) 626-4100**  | **Roxane F. Reardon, Esq. <br> Lesley Peng, Esq. <br> Simpson Thacher & Bartlett LLP <br> 425 Lexington Avenue <br> New York, New York 10017 <br> (212) 455-2000**  |

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#### Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ <br> Emerging growth company ☐

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 to Section 7(a)(2)(B) of the Securities Act. ☐

 **The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.** 

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The information in this preliminary prospectus is not complete and may be changed. The debt-for-equity exchange parties may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

SUBJECT TO COMPLETION, DATED FEBRUARY 21, 2023

PRELIMINARY PROSPECTUS

Shares

### Atmus Filtration Technologies Inc.

### Common Stock

### $ per share
This is an initial public offering of shares of common stock of Atmus Filtration Technologies Inc. ("Atmus"). All of our shares of common stock are currently held by Cummins Inc. ("Cummins").

In connection with this offering, Cummins will exchange shares of our common stock for indebtedness of Cummins held by certain of the underwriters, which we refer to, in such role, as the "debt-for-equity exchange parties." The debt-for-equity exchange parties will then sell these shares pursuant to this offering. As a result, the debt-for-equity exchange parties, and not Cummins or Atmus, will receive the net proceeds from the sale of the shares in this offering. Prior to this offering, there has been no public market for our common stock. It is currently estimated that the initial public offering price per share will be between $ and $. We intend to apply to have our common stock listed on the New York Stock Exchange ("NYSE") under the symbol "ATMU."

Following this offering, Cummins will own approximately % of the voting power of our capital stock. As a result, we will be a "controlled company" within the meaning of the corporate governance rules of the NYSE. See "*Management — Director Independence and Controlled Company Exemption*."

 ***Investing in our common stock involves risks. See "Risk Factors" beginning on page [18](#tRIFA) to read about factors you should consider before buying shares of our common stock.***

 **Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.** 

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| | | |
|:---|:---|:---|
| | Per Share  | Total  |
| Initial public offering price  |  | $— |
| Underwriting discount<sup>(1)</sup>  |  | $— |
| Proceeds, before expenses, to the debt-for-equity exchange parties  |  | $— |

---

(1) We have agreed to reimburse the underwriters for certain expenses in connection with this offering. We refer you to "*Underwriting (Conflicts of Interest)*," beginning on page [145](#tUND) of this prospectus, for additional information regarding total underwriter compensation.

To the extent that the underwriters sell more than shares of our common stock, the debt-for-equity exchange parties have granted the underwriters an option to purchase up to an additional shares at the initial price to the public less the underwriting discount within 30 days from the date of this prospectus. The debt-for-equity exchange parties, and not Cummins or Atmus, will receive the net proceeds from any shares of common stock sold pursuant to this option to purchase additional shares.

The underwriters expect to deliver the shares to investors against payment in New York, New York on , 2023.

#### Joint Lead Book-Running Managers

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Goldman Sachs & Co. LLC**  | **J.P. Morgan**  |

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#### Joint Book-Running Managers

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| | | |
|:---|:---|:---|
| **Baird**  | **BofA Securities**  | **Wells Fargo Securities**  |

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Prospectus dated , 2023

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#### **TABLE OF CONTENTS**

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| | |
|:---|:---|
| | Page  |
| [PROSPECTUS SUMMARY](#tPRSU)  | [1](#tPRSU) |
| [RISK FACTORS](#tRIFA)  | [18](#tRIFA) |
| [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#tCNRF)  | [47](#tCNRF) |
| [USE OF PROCEEDS](#tUOP)  | [48](#tUOP) |
| [DIVIDEND POLICY](#tDIPO)  | [49](#tDIPO) |
| [CAPITALIZATION](#tCAP)  | [50](#tCAP) |
| [DILUTION](#tDIL)  | [51](#tDIL) |
| [UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION](#tUPFC)  | [52](#tUPFC) |
| [THE SEPARATION AND DISTRIBUTION TRANSACTIONS](#tTSAD)  | [60](#tTSAD) |
|  [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#tMDAA)  | [62](#tMDAA) |
| [BUSINESS](#tBUS)  | [74](#tBUS) |
| [MANAGEMENT](#tMAN)  | [88](#tMAN) |
| [EXECUTIVE AND DIRECTOR COMPENSATION](#tEADC)  | [97](#tEADC) |
| [SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT](#tSOOC)  | [119](#tSOOC) |
| [CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS](#tCRAR)  | [121](#tCRAR) |
| [DESCRIPTION OF MATERIAL INDEBTEDNESS](#tDOMI)  | [132](#tDOMI) |
| [DESCRIPTION OF CAPITAL STOCK](#tDOCS)  | [134](#tDOCS) |
| [SHARES ELIGIBLE FOR FUTURE SALE](#tSEFF)  | [139](#tSEFF) |
|  [MATERIAL UNITED STATES FEDERAL INCOME AND ESTATE TAX CONSIDERATIONS FOR NON-U.S. HOLDERS](#tMUSF)  | [141](#tMUSF) |
| [UNDERWRITING (CONFLICTS OF INTEREST)](#tUND)  | [145](#tUND) |
| [LEGAL MATTERS](#tLEMA)  | [153](#tLEMA) |
| [EXPERTS](#tEXP)  | [153](#tEXP) |
| [WHERE YOU CAN FIND MORE INFORMATION](#tWYCF)  | [153](#tWYCF) |
| [INDEX TO FINANCIAL STATEMENTS](#tITFS)  | [F-1](#tITFS) |

---

 **Through and including , 2023 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.** 

You should rely only on the information contained in this prospectus or in any free writing prospectus we may specifically authorize to be delivered or made available to you. None of Cummins, Atmus, the debt-for-equity exchange parties and the underwriters (nor any of our or their respective affiliates) have authorized anyone to provide any information other than that contained in this prospectus or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. None of Cummins, Atmus, the debt-for-equity exchange parties or the underwriters (nor any of our or their respective affiliates) take any responsibility for, and neither we nor they provide any assurance as to the reliability of, any other information that others may give you. None of Cummins, Atmus, the debt-for-equity exchange parties or the underwriters (nor any of our or their respective affiliates) are making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus or any free writing prospectus is only accurate as of its date, regardless of its time of delivery or the time of any sale of shares of our common stock. Our business, financial condition, results of operations and prospects may have changed since that date.

In connection with the consummation of this offering, we will enter into a series of transactions with Cummins pursuant to which Cummins will transfer the assets and liabilities of its filtration business to

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us. In exchange, we will, as consideration, issue to Cummins shares of our common stock and intend to pay to Cummins upon the completion of this offering the amount of existing cash, plus the net proceeds of the term loan that we will enter into prior to the closing of this offering, plus any amounts drawn under the revolving credit facility, less an amount of cash to be retained by us in an amount to be determined by Cummins. We will also enter into a separation agreement with Cummins and various other agreements to provide a framework for our relationship with Cummins after the separation. We refer to these transactions, as further described in the section entitled "*The Separation and Distribution Transactions — The Separation,*" collectively as the "separation." Except as otherwise indicated or unless the context otherwise requires, the information included in this prospectus about Atmus assumes the completion of the separation. See "*The Separation and Distribution Transactions*" for a description of the separation.

Unless we state otherwise or the context requires otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • references to "Atmus," "our company," "we," "us" or "our" refer to Atmus Filtration Technologies Inc., a Delaware corporation, and its subsidiaries after giving effect to the transactions described under "*The Separation and Distribution Transactions — The Separation*" or for periods prior to such transactions, Atmus, a business of Cummins Inc., the combined businesses operating within Cummins' filtration division that have been or will be contributed to Atmus Filtration Technologies Inc., as part of such transactions (but such references do not include the three joint ventures that we have entered into as of the date of this prospectus, which include Fleetguard Filters Private Ltd., Filtrum Fibretechnologies Pvt. Ltd. and Shanghai Fleetguard Filter Co., Ltd.); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • references to "Cummins" or "Parent" refer to Cummins Inc., an Indiana corporation, and its subsidiaries other than Atmus.

#### Explanatory Note
Atmus Filtration Technologies Inc. was formed in April 2022 to be the publicly listed company after giving effect to the transactions described under "*The Separation and Distribution Transactions — The Separation*." Atmus Filtration Technologies Inc. elected not to include its historical financial statements in this registration statement as, until the consummation of the separation transaction, it has no assets, does not operate any businesses and has not conducted any material activities other than those incident to its formation and the pending separation and distribution transaction. The historical financial statements included in this registration statement are those of Atmus, a business of Cummins Inc., the combined businesses operating within Cummins' filtration division that have been or will be contributed to Atmus Filtration Technologies Inc. as part of such transactions.

#### Glossary
"*aftermarket*" means the subset of the filtration market that excludes first-fit sales and includes sales of consumable or replacement products such as replacement filter elements, service parts, chemicals and coolant.

"*Asia Pacific*" means the Asia Pacific region, including Asia, Southeast Asia, Indonesia, Australia, India, China and excluding Russia and the other Commonwealth of Independent States.

"*crankcase ventilation*" refers to our oil mist separators filtration products that remove contaminants from gases that collect in the section of an internal combustion engine known as the crankcase. Crankcase gases build during engine operation and must be vented either into the atmosphere or into the intake air stream, so crankcase ventilation filters are used to remove contaminants from the vented gas.

"*filtration media*" means the separating component of a filter through which the fluid and air passes and by which contaminants are removed. Engine air and liquid filter media usually consists of layers of cellulose or synthetic fibers, but general filtration media also includes sand beds, foam, woven screens, technical textiles, membranes and other means of separation.

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"*first-fit*" means a product applied to the engine or vehicle by the OEM and shipped as a part of the new equipment.

"*GHG*" means greenhouse gas.

"*heavy-duty engine*" means engines with displacement between 10.0-16.9 liters.

"*industrial filtration market*" means the subset of the filtration market (excluding engine applications and passenger cars) that includes machinery and equipment, oil and gas, pharmaceuticals, food and beverage, and metals and mining.

"*Latin America*" means Central and South American countries and Mexico.

"*medium-duty engine*" means engines with displacement between 5.0-9.9 liters.

"*OEM*" means original equipment manufacturer, which refers to Atmus customers that manufacture engines and vehicles. The term "OEM" as used throughout this prospectus also includes Cummins.

"*off-highway*" means the subset of the engine and transportation filtration market relating to vehicles or equipment that are used off-road, such as vehicles and equipment used in the agriculture, construction, defense, marine, mining, oil and gas, power generation and rail industries.

"*on-highway*" means the subset of the engine and transportation filtration market relating to vehicles that are used on-road, such as trucks, buses, recreational vehicles, emergency vehicles and vocational vehicles.

"*passenger car market*" means the subset of the filtration market relating to motor vehicles, other than motorcycles, multipurpose passenger vehicles, or trailers, that are designed to carry up to 10 people.

"*service intervals*" means the recommended interval between filter replacements, usually measured in miles or kilometers for on-highway applications, and usually measured in hours of operation for off-highway applications. Other equivalent terms are maintenance interval and operational interval.

#### Market and Industry Information
Unless otherwise indicated, information contained in this prospectus concerning our industry and the markets in which we operate, including our general expectations and market position, market opportunity and market share, is based on information from third-party sources and management estimates. Our management estimates have not been verified by any independent source. In addition, assumptions and estimates of our and our industry's future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described in "*Risk Factors*." These and other factors could cause future performance to differ materially from our assumptions and estimates. See "*Cautionary Note Regarding Forward-Looking Statements*."

#### Trademarks and Trade Names
The name Atmus Filtration Technologies Inc., the trade name Atmus and other trademarks, trade names and service marks of Atmus appearing in this prospectus, including Fleetguard<sup>®</sup>, StrataPore<sup>®</sup> and NanoNet<sup>®</sup>, are the property of Atmus or licensed to Atmus. The name and mark, Cummins Inc., and other trademarks, trade names and service marks of Cummins appearing in this prospectus are the property of Cummins. Solely for convenience, trademarks, trade names and service marks referred to in this prospectus may appear without the <sup>®</sup> or™ symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent permitted under the applicable law, our rights or the rights of the applicable licensor to these trademarks, trade names and service marks. This prospectus also contains additional trade names, trademarks and service marks belonging to other companies. We do not intend our use or display of other parties' trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties.

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#### PROSPECTUS SUMMARY
 *This summary highlights information included elsewhere in this prospectus and does not contain all of the information you should consider in making an investment decision. You should read this entire prospectus carefully, including the sections entitled "Risk Factors," "Cautionary Note Regarding Forward-Looking Statements," "Unaudited Pro Forma Combined Financial Information" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our historical combined financial statements and the notes thereto before making an investment decision regarding our common stock.* 

#### Overview
Atmus is one of the global leaders of filtration products for on-highway commercial vehicles and off-highway agriculture, construction, mining and power generation vehicles and equipment. We design and manufacture advanced filtration products, principally under the Fleetguard brand, that enable lower emissions and provide superior asset protection. We estimate that approximately 16% of our net sales in 2022 were generated through first-fit sales to OEMs, where our products are installed as components for new vehicles and equipment, and approximately 84% were generated in the aftermarket, where our products are installed as replacement or repair parts, leading to a strong recurring revenue base. Building on our 60-year history, we continue to grow and differentiate ourselves through our global footprint, comprehensive offering of premium products, technology leadership and multi-channel path to market.

For the year ended December 31, 2022, we generated $1,562.1 million in net sales, $170.1 million in net income and $234.0 million in EBITDA. See "*Summary Historical and Unaudited Pro Forma Combined Financial Data*" for a description of EBITDA and a reconciliation of EBITDA to net income, the most directly comparable financial measure calculated in accordance with U.S. GAAP.

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| | |
|:---|:---|
| **<u>2022 Net Sales By Product</u>**  | **<u>2022 Net Sales By Geography</u>**  |
| ![[MISSING IMAGE: tm2211801d1-pc_product4c.jpg]](tm2211801d1-pc_product4c.jpg)  | ![[MISSING IMAGE: tm2211801d2-pc_geograph4c.jpg]](tm2211801d2-pc_geograph4c.jpg)  |

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#### Our Global Footprint
Our global footprint serves end-users in approximately 150 countries, with approximately 49% of our net sales in 2022 from outside of the United States and Canada. We believe that we, together with our joint ventures in China and India, have a leading position in our on-highway and off-highway markets (our "core markets") based on net sales in 2022. We maintain strong global customer relationships, supported by an established salesforce with work locations in 25 countries as of December 31, 2022. Also, as of December 31, 2022, we operate through 12 distribution centers, nine manufacturing facilities and five technical facilities plus 10 manufacturing facilities and two technical facilities operated by our joint ventures, giving us presence on six continents.

#### Our Premium Products
We offer a full spectrum of filtration solutions that enable lower emissions and provide superior asset protection. Our filtration products provide comprehensive and differentiated solutions, which allow

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our end-users to extend service intervals, reduce maintenance costs and increase uptime. Our products include fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters and coolants and other chemicals. Our broad range of products in each of our core markets enables one-stop shopping, which we believe is a key competitive advantage.

![[MISSING IMAGE: tm2211801d2-ph_highway4clr.jpg]](tm2211801d2-ph_highway4clr.jpg)

#### Our Markets
We believe the filtration product market is large and attractive, with estimated total product sales of approximately $74 billion in 2021, of which we believe the total engine products market — consisting of our core markets and the passenger car market — was approximately $30 billion. Within the total engine products market, we estimate that our core markets had a total addressable market of approximately $13 billion in 2021, having grown by approximately 2% CAGR over the last five-year period ending in 2021. We estimate that the passenger car market had a total addressable market of approximately $17 billion in 2021. The balance of the filtration product market is made up of industrial filtration markets, which we estimate had a total addressable market of approximately $44 billion in 2021. Our strategy includes a focus on expanding into industrial filtration markets in the future; these markets have grown by approximately 5% CAGR over the five year period ending 2021. Looking ahead, we expect the industrial filtration markets to grow by approximately 4% CAGR and our core markets by approximately 2% CAGR, in each case through the five-year period ending in 2025.

The engine filtration market is impacted by the following key drivers and trends:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Growth in freight volumes (on-highway) and industrial activity (off-highway)***: We believe broader economic growth is a strong indicator for our business. The U.S. Bureau of Transportation Statistics' Freight Analysis Framework forecasted (as of December 2022) that between 2020 and 2050 U.S. freight activity will double in value, and expected that trucks will remain the predominant freight carrier in the future. Off-highway activity is correlated with the overall construction industry. Dodge Construction Network predicted (as of November 2022) that the U.S. construction industry will remain flat for 2023, and the Construction Industry Databook expected (as of October 2022) a 5.5% CAGR from 2022 to 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Growth in emerging markets***: Global growth in core markets is being driven by macro-economic expansion, including the build-out of infrastructure. Asian markets, including India, are currently positioned for high growth. According to the International Monetary Fund, from 2017 to 2022, gross domestic product in India has grown at a compounded annual growth rate of 5.5%. The growth in India is primarily driven by the increasing demand for transportation as well as emission regulations. Although growth in China was depressed in 2022 due to the COVID-19 response and declining economic conditions, China had experienced high growth in the prior years and we expect a partial recovery over the next few years. Gross domestic product in China has grown at a compounded annual growth rate of 8.3% from 2017 to 2022 according to the International Monetary Fund. The growth in China is primarily driven by investments in infrastructure and emission regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***More stringent emissions standards***: Our core markets will need to comply with more stringent regulatory standards on emissions driving the requirement for higher quality, increased content and higher priced filtration systems.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Technology transition***: There is broad based recognition that GHG emissions are driving climate change. Increasingly, our customers, governments, and investors are making commitments to reduce their GHG emissions, including pledges to achieve net zero GHG

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emissions by 2050. While the pace of adoption will vary by region, our core markets may be impacted by technology transitions, including transition to battery-electric vehicles, fuel cell electric vehicles and alternate power sources.

#### Our Competitive Strengths

#### Technology leadership and deep industry knowledge enable us to deliver better customer solutions
We combine a culture of innovation with deep-seated experience in our industry to deliver superior filtration solutions for our customers. Our technical team develops a range of filtration technologies, including filtration media, filter element formation, filtration systems integration and service-related solutions such as remote digital diagnostic and prognostic platforms and analytics. Our technical team of approximately 350 engineers, scientists and technical specialists are located in five technical centers around the world, with approximately 25% holding advanced technical degrees. Our team draws on a 60-year history focused on filtration and media technologies. We have a broad IP portfolio with over 1,300 worldwide active or pending patents and patent applications and over 500 worldwide trademark registrations and applications as of December 31, 2022.

We have leveraged this expertise not only to develop our cutting-edge filters, filter systems and filtration media but also to manufacture a large portion of our proprietary filtration media. This allows us to move swiftly from development to application of filtration technologies that protect and enhance the operation of our customer's equipment and machines. StrataPore, NanoNet, NanoForce, and most recently, NanoNet Plus product families have enabled engines and equipment to meet continually changing emissions and performance requirements.

Our technical team works closely with our customers to develop and apply filtration technologies that help them improve their operations. For example, we helped a key customer and partner in China to be one of the first to extend maintenance intervals on both lube and fuel filtration systems from 20,000 kilometers to 100,000 kilometers. Additionally, our NanoNet Plus fuel filtration and fluid control systems have delivered fuel system component protection meeting stringent European and North American requirements while still providing enhanced service intervals, and our electric rotating crankcase ventilation (eRCV) product families continue to offer crankcase emissions performance control across European, North American, and China-based customers. Our technology allows us to deliver performance-enabling and customized filtration solutions for our end-users, which creates long-lasting partnerships with our customers.

#### Iconic Fleetguard brand with premium products
We believe that Fleetguard is a premium, leading brand that is strongly associated with reliability and strong performance. We offer a full suite of Fleetguard-branded filtration products. With its broad line of high-quality filtration products, our Fleetguard brand provides filters for nearly all makes of vehicles and equipment in our core markets, which further enhances our availability, visibility and brand recognition. Our Fleetguard brand is further supported by a competitive warranty that gives our customers and end-users high confidence in the performance and durability of our products.

#### Partnering with leading OEMs
We have a strong history as a supplier to leading OEMs, including CNH Industrial, Cummins, Daimler, Deere, Doosan, Foton, Komatsu, PACCAR/DAF, the Traton Group (Navistar/Scania/MAN) and Volvo. We sell both first-fit and aftermarket products to these customers and have been selling to each of them for at least 10 years. These customers in the aggregate accounted for approximately 68% of our net sales in 2022 and have consistently accounted for more than 66% of our net sales in each of the last 5 years. We have written agreements with most of our key customers that specify certain purchase parameters, but do not obligate them to specific volumes. We invest in our relationships and utilize our technical strengths to win first-fit business with these OEMs, which drives our installed base, yielding strong recurring revenue streams in the aftermarket. The OEMs also provide us with early insight into technological developments and evolving product requirements within the broader

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engine and industrial application industry, allowing us to be well positioned as the world shifts towards more complex modular filtration systems and filtration for other power sources.

Cummins is our largest customer and accounted for approximately 19% of our net sales in 2022. Following the offering, this relationship will be defined by the first-fit supply agreement and the aftermarket supply agreement. See "*Certain Relationships and Related Party Transactions — Relationship with Cummins — First-Fit Supply Agreement" and "Certain Relationships and Related Party Transactions — Relationship with Cummins — Aftermarket Supply Agreement.*" These long-term supply agreements will help give us visibility and stability to our future sales within the terms of the agreements. In addition, for over 60 years, our sales and technical teams have been embedded with Cummins, allowing us to have a deep understanding of their needs, which enables us to deliver high-quality, high-performance products that deliver value to Cummins. We partner with Cummins channels in all regions to win end-user accounts in the aftermarket and create a preference for the Fleetguard brand.

#### Multi-channel path to diverse global markets
Our global presence provides a diverse and stable customer base across truck, bus, agriculture, construction, mining and power generation vehicles and equipment markets. Our current core markets are on-highway and off-highway, representing approximately 59% and 41% of our net sales in 2022, respectively.

We estimate that approximately 84% of our net sales in 2022 were generated in the aftermarket. To drive these net sales, we have developed a multi-channel path to global markets that ensures broad product availability and provides end-users with choice and flexibility in purchasing. We distribute our products through a broad range of OEM dealers, independent distributors, and retail outlets, including truck stops.

The dealers of the OEMs are typically the channel preferred by customers in many markets. Our close relationships with the OEMs and strong first-fit installed base position us well with the OEM dealer network and large fleet customers. For example, the dealers of four of the largest North America on-highway OEMs carry a significant range of our products at their dealerships.

In addition, Cummins distributors, independent distributors and retailers enable us to reach a broader end-user market and create additional points of sale or service. We estimate that, as of December 31, 2020, our filters were available in over 45,000 independent aftermarket retail outlets globally, including approximately 5,800 locations in North America, approximately 33,000 retail outlets in India, and approximately 2,000 retail outlets in China. We also work directly with major customers of our channel partners (such as large fleets or mining companies), across our end markets, to create strong brand preference, which, in turn, leads to strong demand for our products and generates recurring revenue. We continue to increase geographic coverage within regions to better serve our customers.

We typically ship directly from our 12 distribution centers (as of December 31, 2022) worldwide to our channel partners, which provides direct connection and detailed understanding of our customer and end-user base. Our comprehensive distribution and market coverage is vital to maintaining our broad reach, global presence, and brand recognition.

![[MISSING IMAGE: tm2211801d2-fc_channel4clr.jpg]](tm2211801d2-fc_channel4clr.jpg)

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#### Comprehensive aftermarket coverage and large installed base
We have a large installed base driven by first-fit relationships with leading OEMs, leading to long product life cycles and a strong stable revenue base. In the last few years our business strategy has put increased focus on releasing first-fit OEM parts, which we believe will increase aftermarket retention. Our large installed base protects against cyclicality in truck sales and creates a long tail of revenue due to the long lifespans of commercial vehicles and equipment, together with the extensive aftermarket service they require throughout their useful lives. For example, the LF670 filter was first installed on trucks in the 1970s and continues to generate an aftermarket revenue stream approximately 50 years post launch. Aftermarket product sales tend to have a higher profit margin, relative to first-fit systems, driving higher operational cash flow and stability throughout the business cycle.

Our end-user relationships provide critical market intelligence that help drive up-sell and cross-sell opportunities, while providing us direct visibility to market opportunities. Additionally, these end-user relationships enable us to accelerate the launch of a broad range of products where we are not the first-fit.

#### Scalable global manufacturing operations
We maintain a global manufacturing footprint with highly capable manufacturing facilities in six continents. As of December 31, 2022, we had nine manufacturing sites for Atmus, and 10 for our joint ventures, allowing us to maintain proximity with our customers and global scale. All nine of our manufacturing facilities have obtained either ISO 9001 or ISO/TS 16949 quality management certifications. Additionally, our global warehousing footprint enhances this proximity with 12 distribution centers (as of December 31, 2022) strategically located around the world.

Our significant volumes allow us to take advantage of economies of scale. We have invested strategically in automation and optimization of core filtration manufacturing processes to deliver cost efficiencies.

#### Attractive margins and strong operating cash flow generation
Our business benefits from attractive margins and a track record of strong cash flow generation. Our high percentage of recurring revenue, relative to other industrial businesses, helps mitigate market cyclicality and revenue volatility. We realized a net income margin of 10.9% and an EBITDA margin of 15.0% in 2022. Our business is resilient, which is evidenced by the fact that despite the changes in economic conditions due to the COVID-19 pandemic, our net sales rebounded with a 16.7% increase in 2021 (as compared to 2020) and increased by 8.6% in 2022 (as compared to 2021). We generate strong operating cash flow from operations with high cash flow conversion, delivering $592.4 million from 2020 to 2022.

#### Experienced leadership team with a proven track record of driving growth
We are led by an energized and experienced senior leadership team with extensive industry experience with Cummins and other leading industrial companies. Our strategic vision and culture are directed by our executive leadership team under the leadership of our Chief Executive Officer, Steph Disher, our Chief Financial Officer, Jack Kienzler, our Chief Human Resources Officer, Mark Osowick, our Chief Legal Officer, Toni Y. Hickey and our Vice President, Engine Products, Charles Masters. Steph Disher joined Cummins in 2013 and has over 20 years of experience in leadership positions, including international assignments in Australia, Asia, and the United States. Most recently, Steph Disher served as Vice President of Cummins Filtration where she has demonstrated a continued track record of strong business performance, innovation, and operational excellence. Jack Kienzler joined Cummins in 2014 and has over 13 years of finance experience. He most recently served as the Executive Director of Investor Relations at Cummins, having formerly led the Corporate Development team. Mark Osowick joined Cummins in 2007 and has over 30 years of experience in human resource management and project management leadership roles. Toni Y. Hickey joined Cummins in 2012 and has over 24 years of experience as an intellectual property lawyer. Charles Masters joined Cummins in 2003 and has over 19 years of experience in global sales and operational leadership roles within Cummins. Our leadership

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team has the ability to develop and execute our strategic vision and aims to create long-term shareholder value. We benefit from our team's industry knowledge and track record of successful product innovation and financial performance. Additionally, members of our senior leadership team have strong experience executing and integrating acquisitions and strategic partnerships to drive accelerated growth and improved profitability.

#### Our Business Strategy

#### Grow share in first-fit in core markets
Our organic first-fit growth opportunities are centered on four pillars:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Grow market share with leading OEMs*: We benefit from deep relationships with leading OEMs. Our technology innovations, global footprint and preferred brand position us well to grow along with the leading OEMs. As our OEM partners continue to grow in share and through consolidation in their respective markets, we will partner with them to grow. This growth with OEMs in turn increases the installed base for our products, which drives recurring aftermarket revenue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Support technology transitions with leading OEMs*: We plan to further build on our relationship with OEMs as they transition to alternate fuel technologies, such as hydrogen-powered internal combustion engines, battery-electric vehicles and fuel cell electric vehicles. Some of our current developments in the alternative fuel space include hydrogen water separators, air filtration products, coolants, water filters, and de-ionizers. We currently have a number of alternative fuel development programs underway with our existing customer base. We are well positioned for the broader transition of technology through our existing relationships with customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Enhanced product content per vehicle*: We have a focus on offering system modules and highly integrated solutions as customers and end-users seek improved filtration performance and quality, which we believe will result in increased first-fit content per vehicle. We are also extending into smart filtration solutions, including embedded sensors, prediction algorithms, and data analytics tools.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Accelerate new product development*: We are accelerating our new product development cycle by continued investment in advanced system level testing capabilities, leveraging in-house 3D printing capabilities, utilizing powerful simulation tools and applying machine learning tools throughout our product development cycle.

#### Accelerate profitable growth in the aftermarket
We estimate that aftermarket net sales represented approximately 84% of our existing business in 2022, and has significant opportunity for further growth through these strategic initiatives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Expand our product portfolio*: Offering a comprehensive product portfolio provides a 'one-stop shop' for our customers. We offer a wide range of products to ensure product coverage and continue to release new products on a yearly basis. As of December 31, 2022, we have launched approximately 400 new products, on average, over each of the last three years. We have a team dedicated to tracking new filter releases and launching new competitive products rapidly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Use analytics to target and capture growth opportunities:* We will continue to develop and enhance analytic tools, including using machine learning and artificial intelligence, to identify cross-sell or up-sell opportunities, and new or underserved customers, and precisely estimate the opportunity for additional sales of our Fleetguard-branded products. We work directly with end-users or through our channel partners to define, track and measure opportunities and conversion rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Expand reach through multi-channel distribution:* It is important that we can reach end-users no matter where they are, or how they choose to purchase our products. We continue to expand our presence with OEM dealers, independent distributors, service centers and retail outlets.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Invest in product technology advantage to enhance value and protect revenue:* Where Atmus is the first-fit, we increase customer retention on aftermarket opportunities by using advanced technologies and proprietary product designs that drive improved performance and create preference for our products. Where Atmus is not the first-fit, we continue to develop products that meet or exceed the first-fit product, supporting our brand position as premium quality and performance, and leading to high customer loyalty.

#### Transform our supply chain
We are focused on transforming our supply chain to improve customer experience, which will drive growth and reduce overall cost, leading to margin enhancement. Our strategic initiatives have four pillars:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Drive service and availability:* Synchronize global planning across the network to focus on on-shelf availability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Optimize network:* Invest in the physical footprint to provide superior availability while minimizing material and part movement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Transform cost structure:* Optimize supplier management and spend, increase throughput across our network of plants and increase automation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Invest in capabilities for the future:* Deploy robust processes across the organization from forecasting through customer orders to fulfillment, and invest in critical global systems infrastructure to provide best-in-class functionality.

#### Expand our technology and diversify our distribution channels beyond our core markets
We are focused on building sustainable growth by expanding and diversifying into the industrial filtration market, which includes machinery and equipment, oil and gas, pharmaceuticals, food and beverage, and metals and mining. We believe we can leverage our global footprint and existing technical capabilities, including our proprietary filtration media technology, into these markets to open new opportunities for growth. We anticipate achieving this by expanding our focus to include non-engine products that we can sell to our current and new customers within our existing markets by utilizing our global footprint. We are working on developing capabilities, whether organically or through acquisitions or strategic partnerships, to enter new markets with long term growth prospects which will further diversify our revenue base. To the extent that we consider acquisitions, we will apply a disciplined financial framework in assessing these opportunities.

#### The Separation
Immediately prior to the completion of this offering, we will be a wholly-owned subsidiary of Cummins and all of our outstanding shares of common stock will be owned by Cummins.

Prior to the completion of this offering, we will enter into a separation agreement with Cummins. We will also enter into various other agreements to provide a framework for our relationship with Cummins after the separation, including an employee matters agreement, an intellectual property license agreement, a registration rights agreement, a first-fit supply agreement, an aftermarket supply agreement, a tax matters agreement, a data sharing agreement, a royalty sharing agreement, a transition services agreement and a transitional trademark license agreement. These agreements will provide for the allocation between us and Cummins of Cummins' employees, assets, liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) attributable to periods prior to, at and after the separation and will govern certain relationships between us and Cummins after the separation. For additional information regarding the separation agreement and such other agreements, please refer to sections entitled "*The Separation and Distribution Transactions — The Separation*," "*Risk Factors — Risks Related to the Separation and Our Relationship with Cummins*" and "*Certain Relationships and Related Party Transactions.*"

We believe, and Cummins has advised us that it believes, that the separation, this offering and the distribution will provide a number of benefits to our business and to Cummins' business. These intended

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benefits include improving the strategic and operational flexibility of both companies, enhancing the focus of the management teams on their respective business operations, allowing each company to tailor the capital structure and investment policy best suited to its financial profile and business needs and providing each company with its own equity to better incentivize employees and facilitate acquisitions. In addition, as we will be a standalone company, potential investors will be able to invest directly in our business. There can be no assurance that we will achieve the expected benefits of the separation and the distribution in a timely manner or at all. See "*Risk Factors — Risks Related to the Separation and our Relationship with Cummins.*"

#### The Underwriting and the Debt-for-Equity Exchange
Instead of selling shares of our common stock directly to the underwriters for cash, Cummins will first exchange the shares of our common stock to be sold in this offering with certain of the underwriters, which we refer to, in such role, as the "debt-for-equity exchange parties," for outstanding indebtedness of Cummins held by the debt-for-equity exchange parties. The debt-for-equity exchange parties will then sell the shares to the underwriters for cash. The debt-for-equity exchange between Cummins and the debt-for-equity exchange parties is expected to occur on or before the settlement date of this offering, and the consummation of the debt-for-equity exchange is a condition to the settlement of the debt-for-equity exchange parties' sale of the shares to the underwriters. If the underwriters exercise their option to purchase additional shares of common stock from the debt-for-equity exchange parties, Cummins will exchange such additional shares of common stock for additional outstanding indebtedness of Cummins held by the debt-for-equity exchange parties with the debt-for-equity exchange parties. The debt-for-equity exchange parties will then sell such additional shares of common stock to the underwriters for cash. We refer to these exchanges collectively as the "debt-for-equity exchange."

We expect that the indebtedness of Cummins held by the debt-for-equity exchange parties will have an aggregate principal amount of at least $ based on a maximum assumed initial public offering price of $ per share, which is the high point of the price range set forth on the cover of this prospectus. The amount of indebtedness of Cummins held by the debt-for-equity exchange parties is expected to be sufficient to acquire all of the shares of our common stock to be sold in this offering, inclusive of the shares that may be sold pursuant to the underwriters' option to purchase additional shares. Upon completion of the debt-for-equity exchange, the Cummins indebtedness exchanged in such debt-for-equity exchange will be retired. We do not guarantee or have any other obligations in respect of the Cummins indebtedness. See "*Underwriting (Conflicts of Interest) — The debt-for-equity exchange.*"

#### Debt Transactions
On September 30, 2022, we entered into a credit agreement (the "credit agreement") with Cummins and a syndicate of banks providing for a five-year $400 million revolving credit facility and a $600 million term loan facility (the "term loan" and collectively with the revolving credit facility, the "debt financing"). The credit agreement also allows us to request incremental commitments on either the revolving credit facility or the term loan of up to $250 million, subject to certain conditions and adjustments. The debt financing will not be available for borrowings until the date on which certain conditions are satisfied, which we expect will be satisfied prior to the completion of this offering. Prior to the completion of this offering, we intend to borrow approximately $ pursuant to the term loan.

As described in the section entitled "*Use of Proceeds*," the amount of existing cash, plus the net proceeds from the term loan plus any amounts drawn under the revolving credit facility will be paid to Cummins upon completion of this offering less an amount of cash to be retained by us in an amount to be determined by Cummins, as partial consideration for the filtration business Cummins is contributing to us in connection with the separation. For additional information regarding the debt financing, please refer to the section entitled "*Description of Material Indebtedness*."

#### The Distribution
Cummins has informed us that, as of the date of this prospectus, it intends, following this offering, to make a distribution to its shareholders of all or a portion of its equity interest in us, which may include

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one or more distributions effected as a dividend to all Cummins shareholders, one or more offers to Cummins shareholders to exchange their Cummins shares for shares of our common stock or other securities or any combination thereof. We refer to any such potential distribution as the "distribution." Cummins has agreed not to effect the distribution for a period of 180 days after the date of this prospectus without the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC. See "*Underwriting (Conflicts of Interest)*."

While, as of the date of this prospectus, Cummins intends to effect the distribution, Cummins has no obligation to pursue or consummate any further dispositions of its ownership interest in us, including through the distribution, by any specified date or at all. If pursued, the distribution may be subject to various conditions, including receipt of any necessary regulatory or other approvals, the existence of satisfactory market conditions and the receipt of a private letter ruling (which has been received) from the Internal Revenue Service, or IRS and an opinion of a nationally recognized law or accounting firm to the effect that the separation and the debt-for-equity exchange, together with such distribution, will qualify as a transaction that is tax-free to Cummins and its shareholders for U.S. federal income tax purposes. The conditions to the distribution may not be satisfied, Cummins may decide not to consummate the distribution even if the conditions are satisfied or Cummins may decide to waive one or more of these conditions and consummate the distribution even if all of the conditions are not satisfied.

The distribution is not being effected pursuant to this prospectus, and the underwriters of this offering may or may not act as underwriters for the distribution.

Upon completion of the distribution, we will no longer qualify as a controlled company and will be required to fully implement NYSE corporate governance requirements within one year of the distribution.

#### Change in Control Considerations
Transactions to implement this offering, the separation and the distribution will constitute a change in control under the governing documents of our joint venture in India, Fleetguard Filter Private Ltd. ("FFPL"), resulting in the loss of rights to board representation. This would effectively result in the loss of our ability to prevent certain significant actions and may result in a reduction or elimination of dividends. See "*Risk Factors — Risks Related to our Business Operations*."

#### Conflicts of Interest
The offering is being conducted in accordance with the applicable provisions of Rule 5121 of the Conduct Rules of the Financial Industry Regulatory Authority, Inc., or FINRA, because Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, who are acting as underwriters in this offering will have a "conflict of interest" pursuant to Rule 5121(f)(5)(C)(ii) by virtue of their role as debt-for-equity exchange parties, since all of the net proceeds of this offering will be received by the debt-for-equity exchange parties. Rule 5121 requires that a "qualified independent underwriter" as defined in Rule 5121 must participate in the preparation of the prospectus and perform its usual standard of diligence with respect to the registration statement and this prospectus. Accordingly, BofA Securities, Inc. is assuming the responsibilities of acting as the qualified independent underwriter in the offering. See "*Underwriting (Conflicts of Interest) — Conflicts of interest.*"

#### Corporate Information
Atmus was incorporated in Delaware as FILT Red, Inc. on April 1, 2022, for the purpose of holding Cummins' filtration business in connection with the separation and this offering. On December 5, 2022, we filed a Certificate of Amendment with the Delaware Secretary of State to change our name from "FILT Red, Inc." to "Atmus Filtration Technologies Inc." Prior to the separation, we have had no operations. Our principal executive offices are located at 26 Century Boulevard, Nashville, Tennessee 37214, and our telephone number is (615) 514-7339. Prior to completion of this offering, we will establish a corporate website at Atmus.com. Our website and the information contained on, or that can be accessed through, our website will not be deemed to be incorporated by reference in, and will not considered part of, this prospectus. You should not rely on any such information in making your decision whether to purchase our common stock.

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#### Risk Factor Summary
Investing in our common stock involves a number of risks. These risks include, but are not limited to, challenges related to the separation, the distribution, the successful implementation of our strategy, and our ability to grow our business. Some of the more significant challenges and risks relating to an investment in our company include, among other things, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We have significant customer concentration, with Cummins, PACCAR and the Traton Group respectively accounting for approximately 19%, 16% and 12% of our net sales in 2022, and the loss of such net sales would have a material and adverse effect on our business, financial condition and results of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • The loss of a top OEM relationship, or changes in the preferences of our aftermarket end-users, could adversely impact the recurring nature of our aftermarket sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We derive significant earnings from investees that we do not directly control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Transactions to implement this offering, the separation and the distribution will constitute a change in control under our joint venture in India (FFPL), resulting in the loss of rights to board representation, which would effectively result in the loss of the ability to prevent certain significant actions and may result in a reduction or elimination of dividends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We may be adversely impacted by work stoppages and other labor matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Our products are exposed to variability in material and commodity costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We are vulnerable to raw material, transportation and labor price increases and supply shortages, which have adversely impacted and could continue to adversely impact our operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Complexity of supply chain and manufacturing could cause inability to meet demand and result in the loss of customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We face significant competition in the markets we serve and maintaining a competitive advantage requires consistent investment with uncertain returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Evolving customer needs and developing technologies may threaten our existing business and growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We face risks from strategic transactions, such as acquisitions, divestitures, joint ventures and other similar arrangements that we may pursue or undertake.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Our long term performance targets assume certain ongoing productivity improvements; if we do not successfully manage productivity improvements, we may not realize the expected benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • A number of our customers operate in similar cyclical industries and economic conditions in these industries could impact our sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Failure to protect or enforce our intellectual property could reduce or eliminate any competitive advantage and reduce our sales and profitability and the cost of protecting or enforcing our intellectual property may be significant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • If we are unable to implement and maintain effective internal control over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports, the market price of our common stock may be negatively affected and we may default on outstanding debt obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Sales of counterfeit versions of our products, as well as unauthorized sales of our products, may adversely affect our reputation, business, financial condition, results of operations and cash flows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We operate our business on a global basis and changes in international, national and regional trade laws, regulations, and policies affecting and/or restricting international trade, including

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sanctions resulting from Russia's military operation in Ukraine, could adversely impact the demand for our products and our competitive position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Unanticipated changes in our effective tax rate, the adoption of new tax legislation or exposure to additional income tax liabilities could adversely affect our profitability and cash flow. In addition, audits by tax authorities could result in additional tax payments for prior periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Changes in tax law relating to multinational corporations could adversely affect our tax position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Our global operations are subject to laws and regulations that impose significant compliance costs and create reputational and legal risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We may be adversely impacted by the effects of climate change and may incur increased costs and experience other impacts due to climate change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Our information technology environment and our products are exposed to potential security breaches or other disruptions, which may adversely impact our operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • A number of our operations depend on sophisticated information technology and infrastructure, which may be disrupted by the separation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We are subject to foreign currency exchange rate and other related risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Political, economic and social uncertainty in geographies where we have significant operations or large offerings of our products could significantly change the dynamics of our competition, customer and end-user base and product offerings and impact our growth opportunities globally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • The anticipated benefits of the separation may not be achieved and the separation may adversely affect our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • As a result of the separation, we will lose Cummins' reputation, economies of scale, capital base and other resources and may experience difficulty operating as a standalone company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • For so long as Cummins controls a majority of the voting power of our outstanding common stock, we will qualify for, and intend to rely on, certain exemptions from NYSE corporate governance requirements. Stockholders will not have the same protections afforded to stockholders of companies that are subject to all NYSE corporate governance requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Following the completion of this offering, Cummins will continue to have significant control over us for a period of time, which could continue indefinitely, preventing you and other stockholders from influencing significant decisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We, or Cummins, may fail to perform under various transaction agreements that will be executed as part of the separation or we may fail to have necessary systems and services in place when certain of the transaction agreements expire.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • After the separation, certain of our executive officers and directors may have actual or potential conflicts of interest because of their equity interest in Cummins. Also, certain of Cummins' current executive officers also serve as directors of our company, which may create conflicts of interest, or the appearance of conflicts of interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • If Cummins completes the distribution, and there is later a determination that the separation, the debt-for-equity exchange and/or the distribution is taxable for U.S. federal income tax purposes because the facts, assumptions, representations or undertakings underlying the Internal Revenue Service ("IRS") private letter ruling and/or any opinion of a nationally recognized law or accounting firm are incorrect or for any other reason, then Cummins and its stockholders could incur significant U.S. federal income tax liabilities, and we could incur significant liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We may be affected by significant restrictions in the tax matters agreement, including on our ability to engage in certain corporate transactions for a two-year period after the distribution in order to avoid triggering significant tax-related liabilities for Cummins.

The foregoing is only a summary of some of the risks related to an investment in our common stock. For a more detailed discussion of these and other risks you should consider before making an investment in our common stock, see "*Risk Factors*."

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#### The Offering
Common stock offered in this offering

shares of common stock (or shares of common stock if the underwriters exercise their option to purchase additional shares in full).

Common stock to be held by Cummins immediately after this offering

shares of common stock (or shares of common stock if the underwriters exercise their option to purchase additional shares in full).

Common stock to be outstanding immediately after this offering

shares of common stock.

Option to purchase additional shares of common stock

The underwriters have an option to purchase up to additional shares of common stock from the debt-for-equity exchange parties, as described in "*Underwriting (Conflicts of Interest)*."

Voting rights

Shares of common stock are entitled to one vote per share on all matters presented to our stockholders generally.

Upon the completion of this offering, Cummins will hold approximately % of the total voting power of our outstanding capital stock (or % if the underwriters exercise in full their option to purchase additional shares of our common stock). As such, Cummins will have the ability to control the outcome of matters submitted to our stockholders for approval, including the election of directors, amendments of our organizational documents and any merger, consolidation, sale of all or substantially all of our assets or other major corporate transactions. See "*Security Ownership of Certain Beneficial Owners and Management*" and "*Description of Capital Stock*."

Additionally, upon completion of this offering, we will be a "controlled company" within the meaning of the rules of the NYSE and, as a result, will qualify for, and intend to rely on, exemptions from certain corporate governance requirements. See "*Management — Controlled Company Exception*."

Use of proceeds

We will not receive any proceeds from the sale of our common stock in this offering. All of the net proceeds from this offering will be received by the debt-for-equity exchange parties. Immediately prior to the settlement of the debt-for-equity exchange parties' sale of the shares to the underwriters, the debt-for-equity exchange parties will acquire the common stock being sold in this offering from Cummins in exchange for outstanding Cummins indebtedness held by the debt-for-equity exchange parties. See "*Use of proceeds*."

As part of the separation and upon the completion of this offering, we intend to pay Cummins, as partial consideration for the filtration business that Cummins is contributing to us in connection with the separation, the amount of existing cash, plus the net proceeds of the term loan that we will enter into prior to the closing of this offering plus any amounts drawn under

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the revolving credit facility, less an amount of cash to be retained by us in an amount to be determined by Cummins.

The determination of the amount of our cash upon the completion of this offering will be made by Cummins in good faith and will be final and binding on us.

See "*Description of Material Indebtedness*" and "*Use of Proceeds*."

Dividend policy

We have not yet determined the extent to which we will pay any dividends on our common stock. The payment of any dividends in the future, and the timing and amount thereof, is within the discretion of our board of directors (the "Board") in accordance with applicable law. The Board's decisions regarding the payment of dividends will depend on many factors, such as our financial condition, earnings, capital requirements, debt service obligations, restrictive covenants in our debt that we will enter into prior to the closing of this offering and in the future, industry practice, legal requirements and other factors that the Board deems relevant. Our ability to pay dividends will depend on our ongoing ability to generate cash from operations and on our access to the capital markets. We cannot guarantee that we will pay a dividend in the future or continue to pay any dividends if we commence paying dividends. See "*Dividend Policy*."

Selling stockholder (for purposes of the U.S. Securities laws)

In connection with this offering, Cummins, as a selling stockholder for purposes of the U.S. securities laws, will exchange shares of our common stock for indebtedness of Cummins held by the debt-for-equity exchange parties. The debt-for-equity exchange parties will then sell these shares pursuant to this offering.

Upon completion of this offering, Cummins will continue to own a controlling interest in us. Accordingly, we intend to avail ourselves of the "controlled company" exemptions under the corporate governance rules of the NYSE. See "*Management — Director Independence and Controlled Company Exemption*" and "*Security Ownership of Certain Beneficial Owners and Management*."

Conflicts of interest

The offering is being conducted in accordance with the applicable provisions of Rule 5121 of the Conduct Rules of the Financial Industry Regulatory Authority, Inc., or FINRA, because Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, who are acting as underwriters in this offering, will have a "conflict of interest" pursuant to Rule 5121(f)(5)(C)(ii) by virtue of their role as debt-for-equity exchange parties, since all of the net proceeds of this offering will be received by the debt-for-equity exchange parties. Rule 5121 requires that a "qualified independent underwriter" as defined in Rule 5121 must participate in the preparation of the prospectus and perform its usual standard of diligence with respect to the registration statement and this prospectus. Accordingly, BofA Securities, Inc. is assuming the responsibilities of acting as the qualified independent underwriter in the offering.

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See "*Underwriting (Conflicts of Interest)*."

Listing

We intend to apply to have our common stock listed on the NYSE under the symbol "ATMU."

Risk factors

Investing in our common stock involves a high degree of risk. See "*Risk Factors*" beginning on page [18](#tRIFA) and the other information included in this prospectus for a discussion of factors you should carefully consider before investing in our common stock.

Unless the context requires otherwise, references to the number and percentage of shares of our common stock to be outstanding immediately after this offering are based on shares of our common stock outstanding as of , 2023. Certain monetary amounts, percentages and other figures included in this prospectus have been subject to rounding adjustments. Certain other amounts that appear in this prospectus may not sum due to rounding.

Unless otherwise indicated, the information presented in this prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *gives effect to the transactions described under "The Separation and Distribution Transactions — The Separation;"* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • assumes an initial public offering price of $ per share (the midpoint of the estimated public offering price range set forth on the cover page of this prospectus); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • excludes shares of our common stock that will be reserved under our equity incentive plan, from which we expect to grant equity awards relating to up to shares of our common stock at or shortly following this offering, as further described in "*Executive and Director Compensation*".

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#### SUMMARY HISTORICAL AND UNAUDITED PRO FORMA COMBINED FINANCIAL DATA
The following summary historical and unaudited pro forma combined financial data reflects the combined financial statements of the filtration business of Cummins. We derived the summary historical combined statements of net income data and cash flow data for the years ended December 31, 2022, December 31, 2021, and December 31, 2020 and the summary historical combined balance sheet data as of December 31, 2022 and December 31, 2021, as set forth below, from our audited historical combined financial statements, which are included elsewhere in this prospectus. We derived the summary unaudited pro forma combined statements of net income data for the year ended December 31, 2022 and the summary unaudited pro forma combined balance sheet data as of December 31, 2022, as set forth below, from our unaudited pro forma combined financial information included in the "*Unaudited Pro Forma Combined Financial Information*" section of this prospectus.

Our underlying financial records were derived from the financial records of Cummins for the periods reflected herein. We have prepared the historical combined financial statements and have included all adjustments to state fairly the financial information set forth in those statements. Our historical results may not necessarily reflect our results of operations, financial position and cash flows for future periods or what they would have been had we been a separate, publicly-traded company during the periods presented.

We have historically operated as part of Cummins and not as a separate, publicly-traded company. Our historical combined financial statements have been derived from Cummins' historical accounting records and are presented on a carve-out basis. All sales and costs as well as assets and liabilities directly associated with our business activity are included as a component of the historical combined financial statements. The historical combined financial statements also include allocations of certain general, administrative, sales and marketing expenses and cost of sales from Cummins' corporate office and from other Cummins businesses to us. The allocations have been determined on a reasonable basis; however, the amounts are not necessarily representative of the amounts that would have been reflected in the historical combined financial statements had we been an entity that operated separately from Cummins during the periods presented.

The summary unaudited pro forma combined financial data presented has been prepared to reflect the transactions described in the "*Unaudited Pro Forma Combined Financial Information*" section of this prospectus. The summary unaudited pro forma combined statements of net income data presented reflect the financial results as if such transactions had occurred on January 1, 2022. The summary unaudited pro forma combined balance sheet data reflects the financial position as if such transactions occurred on December 31, 2022. The assumptions used and pro forma adjustments derived from such assumptions are based on currently available information.

The unaudited pro forma combined financial information are not necessarily indicative of our results of operations or financial condition had the separation and our anticipated post-separation capital structure been completed on the dates assumed. Also, they may not reflect the results of operations or financial condition that would have resulted had we been operating as a separate, publicly-traded company during such periods. In addition, they are not necessarily indicative of our future results of operations, financial position or cash flows.

This summary historical and unaudited pro forma combined financial data should be reviewed in combination with "*Unaudited Pro Forma Combined Financial Information*," "*Capitalization*," "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and the historical combined financial statements and accompanying notes included in this prospectus.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| | 2022  | 2022  | 2021  | 2020  |
| $ in millions  | Pro Forma  | Actual  | Actual  | Actual  |
| **Summary Statements of Net Income Data** |  |  |  |  |
| Net Sales  | $1562.1 | $1562.1 | $1438.8 | $1232.6 |
| &nbsp;&nbsp;&nbsp; Cost of sales  | 1200.7 | 1203.2 | 1088.3 | 923.2 |
| Gross margin  | $361.4 | $358.9 | $350.5 | $309.4 |
| &nbsp;&nbsp;&nbsp; Selling, general, and administrative expenses  | 154.5 | 139.7 | 126.2 | 112.1 |
| &nbsp;&nbsp;&nbsp; Research, development and engineering <br> expenses  | 38.6 | 38.6 | 42.0 | 39.0 |
| &nbsp;&nbsp;&nbsp; Equity, royalty, and interest income from <br> investees  | 28.0 | 28.0 | 32.4 | 40.7 |
| &nbsp;&nbsp;&nbsp; Other operating expense, net  | 5.0 | 5.0 |  |  |
| Operating Income  | $191.3 | $203.6 | $214.7 | $199.0 |
| &nbsp;&nbsp;&nbsp; Interest expense  | 39.2 | 0.7 | 0.8 | 0.4 |
| &nbsp;&nbsp;&nbsp; Other income, net  | 8.8 | 8.8 | 3.9 | 2.0 |
|  Income before income <br> taxes  | $160.9 | $211.7 | $217.8 | $200.6 |
| &nbsp;&nbsp;&nbsp; Income tax expense  | 32.9 | 41.6 | 46.5 | 57.8 |
| Net Income  | $128.0 | $170.1 | $171.3 | $142.8 |
| **Summary Statements of Cash Flows Data** |  |  |  |  |
| Net cash (used in) provided by: |  |  |  |  |
| Operating activities  |  | $177.0 | $202.3 | $213.1 |
| Investing activities  |  | (33.4) | (31.9) | (26.5) |
| Financing activities  |  | (143.6) | (170.4) | (186.6) |
| **Other Data:** |  |  |  |  |
| Gross margin as a percent of net sales  |  | 23.0% | 24.4% | 25.1% |
| Operating income as a percent of net sales  |  | 13.0% | 14.9% | 16.1% |
| EBITDA<sup>(1)</sup> |  | $234.0 | $240.2 | $222.1 |
| Net income margin  |  | 10.9% | 11.9% | 11.6% |
| EBITDA margin<sup>(1)</sup>  |  | 15.0% | 16.7% | 18.0% |

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| | | | |
|:---|:---|:---|:---|
| | | December 31,  | December 31,  |
| | 2022  | 2022  | 2021  |
| $ in millions  | Pro Forma  | Actual  | Actual  |
| **Summary Balance Sheet Data** |  |  |  |
| &nbsp;&nbsp;&nbsp; Total current assets  | $622.3 | $512.3 | $482.1 |
| &nbsp;&nbsp;&nbsp; Total current liabilities  | 349.1 | 349.1 | 319.9 |
| &nbsp;&nbsp;&nbsp; Property, plant and equipment, net  | 148.4 | 148.4 | 141.1 |
| &nbsp;&nbsp;&nbsp; Total assets  | 989.4 | 879.4 | 848.3 |
| &nbsp;&nbsp;&nbsp; Total liabilities  | 1081.6 | 429.9 | 411.1 |
| &nbsp;&nbsp;&nbsp; Total net parent investment  | (92.2) | 449.5 | 437.2 |

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(1) Non-GAAP financial measures

In addition to the results reported in accordance with U.S. GAAP, we have provided information regarding EBITDA and EBITDA margin, which are non-GAAP financial measures and the key measures we use for determining how our business is performing. EBITDA is defined as earnings or losses before interest expense, income taxes, depreciation and amortization and EBITDA margin is defined as EBITDA as a percent of net sales. We believe EBITDA and EBITDA margin are useful measures of our operating performance as they assist investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors. Additionally, we believe these metrics are widely used by investors, securities analysts, ratings agencies and others in our industry in evaluating performance.

EBITDA and EBITDA margin are not in accordance with, or alternatives for, U.S. GAAP financial measures and may not be consistent with measures used by other companies. It should be considered supplemental data; however, the amounts included in the EBITDA and EBITDA margin calculations are derived from amounts included in the combined statements of net income. We do not consider our non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. Some of the limitations are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such measures do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such measures do not reflect changes in, or cash requirements for, our working capital needs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such measures do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments on our debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any cash requirements for such replacements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • other companies in our industry may calculate such measures differently than we do, limiting their usefulness as comparative measures.

To properly and prudently evaluate our business, we encourage you to review the historical combined financial statements included elsewhere in this prospectus, and not rely on a single financial measure to evaluate our business. A reconciliation of net income to EBITDA is shown in the table below:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| $ in millions  | 2022  | 2022  | 2021  | 2021  | 2020  | 2020  |
| **NET INCOME**  | $| 170.1 | $| 171.3 | $| 142.8 |
| Plus: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Interest expense  |  | 0.7 |  | 0.8 |  | 0.4 |
| &nbsp;&nbsp;&nbsp; Income tax expense  |  | 41.6 |  | 46.5 |  | 57.8 |
| &nbsp;&nbsp;&nbsp; Depreciation and Amortization  |  | 21.6 |  | 21.6 |  | 21.1 |
| **EBITDA (non-GAAP)**  | **$** | **234.0** | **$** | **240.2** | **$** | **222.1** |
| Net Sales  | $| 1562.1 | $| 1438.8 | $| 1232.6 |
| **Net income margin**  |  | **10.9%** |  | **11.9%** |  | **11.6%** |
| **EBITDA margin (non-GAAP)**  |  | **15.0%** |  | **16.7%** |  | **18.0%** |

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#### RISK FACTORS
Investing in our common stock involves a high degree of risk. You should consider carefully the following risks, together with all the other information in this prospectus, including our combined financial statements and notes thereto, before you invest in our common stock. If any of the following risks actually materializes, our business, financial condition and results of operations could be materially adversely affected. As a result, the trading price of our common stock could decline and you could lose part or all of your investment.

#### Risks Related to Our Business Operations
 ***We have significant customer concentration, with Cummins, PACCAR and the Traton Group respectively accounting for approximately 19%, 16% and 12% of our net sales in 2022, and the loss of such net sales would have a material and adverse effect on our business, financial condition and results of operations.***

Cummins is our largest customer. For fiscal year ended 2022, net sales to Cummins accounted for approximately 19% of our net sales. Sales to Cummins joint ventures and to distributors with which Cummins has a relationship also account for a portion of our net sales. A portion of our net sales is dependent upon customer acceptance of and demand for Cummins' engines or generators that use our filters. This customer concentration increases the risk of fluctuations in our operating results and our sensitivity to any material adverse developments experienced by Cummins. While our relationship with Cummins following the offering will be defined by our first-fit supply agreement and after market supply agreement, we may fail in the future to renew these contracts, and, moreover, even if renewed, Cummins' purchasing power may give it the ability to make greater demands on us with regard to pricing and contractual terms in general.

Our relationship with Cummins following the offering will be defined by our first-fit supply agreement and aftermarket supply agreement. Cummins may procure supplemental supply of top volume aftermarket products from alternative suppliers for a limited time if we fail to meet certain delivery performance requirements or if we do not offer a product or similar product for sale. The delivery performance requirements will be effective no sooner than 2024 and will require an improvement to current on-time delivery to meet these requirements on a consistent basis.

Cummins historically has not sought competitive bids for filtration products. However, Cummins recently initiated a competitive process to source a selective group of future first-fit programs and associated aftermarket products from its suppliers, including us. Subsequently, we were successful in being awarded this business. In the future, we expect that Cummins will continue to seek competitive bids for new filtration products and, while we will have a preferred supplier relationship with Cummins, we will have to successfully win bids through their bidding process in order to maintain or grow our current level of sales to Cummins and cannot guarantee that Cummins will always select our products. The loss of, or any substantial reduction in sales to, Cummins would have a material adverse effect on our business, financial condition and results of operations. See "*Certain Relationships and Related Party Transactions — Relationship with Cummins — First-Fit Supply Agreement" and "Certain Relationships and Related Party Transactions — Relationship with Cummins — Aftermarket Supply Agreement*."

For fiscal year ended 2022, net sales to PACCAR and the Traton Group accounted for approximately 16% and 12%, respectively, of our net sales. We cannot guarantee that PACCAR or the Traton Group will always choose to purchase our products. The loss or cancellation of business from PACCAR or the Traton Group could materially and adversely affect our business, financial condition or results of operations.

In addition, our association with Cummins has contributed to the relationships we have with certain significant customers due to the relationship those customers had with Cummins. After the separation, we may not be able to attract new customers of Cummins, or retain existing customers, without Cummins' support. See "*— As a result of the separation, we will lose Cummins' reputation, economies of scale, capital base and other resources and may experience difficulty operating as a standalone company.*"

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 ***The loss of a top OEM relationship, or changes in the preferences of our aftermarket end-users, could adversely impact the recurring nature of our aftermarket sales.***

We supply filtration products to many of the largest OEMs for both first-fit and aftermarket, which results in recurring revenue for our products. Our relationships with these OEMs also allow us to be closely attuned to our customers' requirements and preferences and react quickly to any changes. The use of our filtration products as a standard first-fit component creates a steady demand for that product in the aftermarket, as end-users often return to the OEM for aftermarket service for multiple years and may continue to prefer our products as replacement or repair parts.

We may not be able to maintain our current top OEM relationships in the future or may not become the preferred supplier for additional OEMs. In addition, our channel partners' and end-users' preferences for replacement or repair filtration products may change in the future. The loss of a top OEM relationship, or changes in the preferences of our aftermarket end-users, could adversely impact the recurring nature of our aftermarket sales.

#### We derive significant earnings from investees that we do not directly control.
We earn equity, royalty and interest income from our joint venture in China — Shanghai Fleetguard Filter Co. Ltd., where we indirectly hold 50% of the economic interest. We also earn equity, royalty and interest income from our joint ventures in India — Fleetguard Filter Private Ltd. ("FFPL"), where we directly hold 49.491% of the economic interest (and 50% of the voting interest), and Filtrum Fibretechnologies Pvt. Ltd., where we hold, directly or indirectly, 49.75% of the economic interests (25% directly and 24.75% indirectly through our proportionate ownership of FFPL's 50% ownership interest). For 2022, we recognized $28.0 million of equity, royalty and interest income from investees, compared to $32.4 million in 2021 and $40.7 million in 2020. Of these amounts, $17.1 million, $16.4 million and $24.9 million, respectively, were from our joint venture in India — FFPL. Although a significant percentage of our net income is derived from these unconsolidated entities (which were approximately 16.5% in 2022, approximately 18.9% in 2021 and approximately 28.5% in 2020, of which approximately 10.1%, approximately 9.6% and approximately 17.4% were from FFPL in 2022, 2021 and 2020, respectively), we do not unilaterally control their management or their operations, which puts a substantial portion of our net income and cash flow through dividend payments at risk from the actions or inactions of these entities. A significant reduction in the level of contribution by these entities to our net income would likely have a material adverse effect on our business, financial condition or results of operations.

 ***Transactions to implement this offering, the separation and the distribution will constitute a change in control under our joint venture in India, resulting in the loss of rights to board representation, which would effectively result in the loss of the ability to prevent certain significant actions, and may result in a reduction or elimination of dividends.***

Under the terms of the FFPL articles of association (the "FFPL Articles"), a change in control occurs when Cummins ceases to have control or ownership in Cummins Filtration Inc. ("CFI") or loses majority voting rights in CFI. Transactions to implement the offering, the separation and the proposed subsequent distribution of Cummins' equity interest in us will result in a change in control of CFI under the terms of the FFPL Articles. Upon a change in control, our joint venture partner will hold a 50.51% voting interest in FFPL. In addition, as noted above, CFI will lose its guaranteed right to board representation and a mandatory dividend payment provision will no longer be operative. The loss of these rights may have a material adverse impact on our ability to influence our business operations in India and to access the equity, royalty and interest income from FFPL. See "*We derive significant earnings from investees that we do not directly control*."

#### We may be adversely impacted by work stoppages and other labor matters.
As of December 31, 2022, we employed approximately 4,250 persons worldwide. Approximately 55% of our employees worldwide are represented by various unions under collective bargaining agreements that expire between December 2023 and February 2024. While we have no reason to believe that we will be materially impacted by work stoppages or other labor matters, there can be no

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assurance that future issues with our labor unions will be resolved favorably or that we will not encounter future strikes, work stoppages, or other types of conflicts with labor unions or our employees. For example, during periodic collective bargaining in 2020, the United Auto Workers union representing manufacturing employees at the Cookeville, Tennessee site conducted a strike for six weeks after failing to accept modified terms and conditions offered by the company. Any of these consequences may have an adverse effect on us or may limit our flexibility in dealing with our workforce. In addition, many of our customers and suppliers have unionized work forces. Work stoppages or slowdowns experienced by us, our customers or suppliers could result in slowdowns or closures that would have a material adverse effect on our business, financial condition or results of operations.

#### Our products are exposed to variability in material and commodity costs.
Our businesses establish prices with our customers in accordance with contractual timeframes; however, the timing of material and commodity market price increases may prevent us from passing these additional costs on to our customers through timely pricing actions, which may lead to an adverse impact on our profit margins. For example, our gross margin decreased by 1.4 percentage points from 2021 (24.4%) to 2022 (23.0%) as a result of our material and freight costs increasing at a faster rate than the increase in net sales. Additionally, higher material and commodity costs around the world may offset our efforts to reduce our cost structure. Economies around the world have also generally seen significant inflationary pressures since 2021, which may persist in 2023 and beyond. If inflation continues to increase or stays above levels seen in recent years, we could face further material and commodity price fluctuations. As of the date of this prospectus, we have not entered into any hedging arrangements or agreements with respect to the purchase of the commodities used in our products. While we customarily have contractual pricing adjustment mechanisms with our customers that attempt to address some of these risks (notably with respect to steel and resins), there can be no assurance that material and commodity price fluctuations will not adversely affect our results of operations and cash flows. In addition, while the use of contractual pricing adjustments may provide us with some protection from adverse fluctuations in commodity prices, we potentially forego the benefits that might result from favorable fluctuations in costs. As a result, higher material and commodity costs, as well as hedging these commodity costs during periods of decreasing prices, could result in declining margins.

 ***We are vulnerable to raw material, transportation and labor price increases and supply shortages, which have adversely impacted and could continue to adversely impact our operations.***

We have experienced supply chain disruptions, including longer lead times for materials used in manufacturing our products and increased commodity prices and related challenges throughout the supply chain. We source a significant number of parts and raw materials critical to our business operations. Any delay in our suppliers' deliveries may adversely affect our operations at multiple manufacturing locations, forcing us to seek alternative supply sources to avoid serious disruptions. Delays may be caused by factors affecting our suppliers (including the COVID-19 pandemic, capacity constraints, port congestion, labor disputes, economic downturns, availability of credit, impaired financial condition and geopolitical turmoil), suppliers' allocations to other purchasers, weather emergencies, natural disasters, acts of government or acts of war or terrorism. In particular, if there are extended periods of travel, commercial and other restrictions due to COVID-19 infections or restrictions or other geopolitical turmoil, we could incur global supply disruptions. Any extended delay in receiving critical supplies could impair our ability to deliver products to our customers and have a material adverse effect on our business, financial condition or results of operations. Our North America plants, in particular, experienced reduced capacity for an extended period throughout 2021 and into 2022, primarily due to a lack of available components. This was primarily due to shortages in steel, resin, other petrochemical products and electronic components, as well as shortages in labor at our suppliers. Additionally, we have experienced plant closures due to COVID-19 restrictions. For example, our Mexico production was suspended for four weeks in 2020, our French facility was closed for one week in 2020, and our Shanghai facility experienced significantly reduced production in 2022.

In addition, the current economic environment has resulted, and may continue to result, in price increases and other volatility and inflation of many of our raw material, transportation and labor costs as a result of many factors, including our suppliers of resin and microprocessors exercising force majeure

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clauses, shortages of steel supply, general inflationary market pressures, pay rate increases at individual facilities and logistical issues, including global transportation delays and rising costs. These challenges can lead to increased material and conversion cost, which in turn leads to increased inventory balances. In 2021 and 2022, we experienced increased commodity prices, including for steel, resin and other petrochemical products. Additionally, shipping has experienced, and is continuing to experience, longer and more volatile time in transit, which further increases inventory balances.

Further, the labor market for skilled manufacturing remains tight as the U.S. economy recovers after the COVID-19 pandemic shutdowns and our labor costs have increased as a result. We have also experienced periodic absenteeism in our plants due to local COVID-19 outbreaks, leading to temporary production reductions. In the United States, in particular, we have experienced difficulty recruiting and retaining labor, leading to lower production and increased costs due to additional recruiting incentives. Material, transportation, labor and other cost inflation has adversely impacted, and could continue to adversely impact, our business, financial condition or results of operations.

Although we have taken a number of actions to mitigate these impacts, including, but not limited to, adding new supply sources, moving production among our facilities or outsourcing production to third-party manufacturers, adapting product design to reduce reliance on constrained materials, and investing in additional tooling and equipment, these mitigating actions may not be sufficient to overcome these impacts.

#### Complexity of supply chain and manufacturing could cause inability to meet demand and result in the loss of customers.
Our ability to fulfill customer orders is dependent on our manufacturing and distribution operations. Although we forecast demand, additional plant capacity takes significant time to bring online and thus changes in demand could result in longer lead times. We cannot guarantee that we will be able to adjust manufacturing capacity, in the short-term, to meet higher customer demand. For example, the COVID-19 pandemic caused lower levels of production at our manufacturing plants, including a four-week government-mandated shutdown at our manufacturing plant in Mexico, labor shortages, manufacturing disruptions and temporary shutdowns of business at some of our customers and suppliers. These disruptions impacted the availability of raw materials, including steel, resin, other petrochemical products and electronic components, and freight availability and reliability, which resulted in increased lead times. Efficient operations require streamlining processes, which we may not be capable of achieving. Unacceptable levels of service for key customers may result if we are not able to fulfill orders on a timely basis or if product quality or warranty or safety issues result from compromised production. Due to the complexity of our manufacturing operations, we may be unable to timely respond to fluctuations in demand, which could adversely impact our business, financial condition or results of operations.

While we have not experienced significant global surges or declines in demand, for much of 2022, overall demand exceeded our ability to fully meet such demand, resulting in an elevated level of backlog. As we moved through 2022, there was a reduction in these backlogs from peak levels, and we expect further stabilization in the first half of 2023.

#### We face significant competition in the markets we serve and maintaining a competitive advantage requires consistent investment with uncertain returns.
The businesses and product lines in which we participate are very competitive and we risk losing business based on a wide range of factors, including price, quality, technological and engineering capability, manufacturing and distribution capability, innovation, performance, reliability and availability, geographic coverage, delivery and customer service. Our customers continue to seek technological innovation, productivity gains and competitive prices from us and their other suppliers. As a result of these and other factors, if we do not meet our customers' expectations, we may not be able to compete effectively.

Additionally, we operate in highly competitive markets and have numerous competitors who are well-established in those markets. Our competitors include companies that may have greater name recognition or financial, technical, operational, marketing or other resources than us. We expect our

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competitors to continue improving the design and performance of their products and to introduce new products that could be competitive in both price and performance. We believe that we have certain technological advantages over our competitors in the markets in which we operate, but maintaining these advantages requires us to consistently invest in research and development, sales and marketing and customer service and support. There is no guarantee that we will be successful in maintaining these advantages.

The competitive environment in which we operate is also subject to change. There is no guarantee that we will be successful in implementing new product expansions, as we may fail to successfully complete product development or achieve the level of sales for these products that we expect. There may also be unexpected costs for such new product offerings, which would lower their margins. In addition, certain competitors may have a competitive advantage in these new markets and if they are able to successfully develop a product before we do, they could reach the market before we do or gain broader market acceptance.

#### Evolving customer needs and developing technologies may threaten our existing business and growth.
The ongoing energy transition away from fossil fuels and the increased adoption of electrified powertrains in some market segments could result in lower demand for current diesel or natural gas engines and components and, over time, reduce the demand for related parts and service revenues. Specifically, our core markets may be impacted by technology transitions including transition to battery-electric vehicles, fuel cell electric vehicles and alternate power sources. Substantially all of our net sales are related to internal combustion engine filtration products. Concerns regarding the effects of emissions of GHG on the climate have driven (and will likely continue to drive) international, national, regional and local legislative and regulatory responses, imposing more stringent emissions standards and requiring higher fuel efficiency. Such responses may generate or accelerate changes in technology and in customer and end-user preference, including wider adoption of and preference for technologies providing alternatives to diesel engines such as electrification of equipment, which could reduce or eliminate the demand for our products. Moreover, on November 15, 2019, Cummins, our largest customer, established a new set of goals for 2030 as part of their environmental sustainability strategy. Among these new goals is reducing GHG from facilities and operations by 50% and from newly sold products by 25%. As a result of these risks, and as we have seen OEMs begin to invest heavily in these new technologies and launch new non internal combustion engines, we have been working, and continue to work, to expand our product offerings across industries and application types, including electric powertrain and fuel cells, among others. However, there can be no assurance that we will be successful in doing so, or even if we are successful, that such new products will generate the same revenue or margin as internal combustion engine filtration products. Such disruptive innovation could create new markets for others and displace existing companies and products. If we are unsuccessful in adapting our technologies or expanding into adjacent markets, these disruptions could result in significant negative consequences for our company. Our future growth is dependent on properly addressing future customer and end-user needs and adapting our products in line with global technology trends.

#### We rely on our executive leadership team and other key personnel as a critical part of our human capital resources.
We depend on the skills, institutional knowledge, working relationships and continued services and contributions of key personnel, including our executive leadership team as critical parts of our human capital resources. In addition, our ability to achieve our operating and strategic goals depends on our ability to identify, hire, train and retain qualified individuals. We compete with other companies both within and outside of our industry for talented personnel and we may lose key personnel or fail to attract, train and retain other talented personnel. Any such loss or failure could have material adverse effects on our results of operations, financial condition and cash flows.

In particular, our continued success will depend in part on our ability to retain the talents and dedication of key employees. As of December 31, 2022, we employed approximately 350 total technical

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resources. As of December 31, 2022, 48% of our technical employees are employed outside the United States, in India, China and France, many of whom we consider key employees. If enough key employees terminate their employment or become ill or otherwise cannot work as a result of the COVID-19 pandemic or otherwise, our business activities may be adversely affected and our management team's attention may be diverted. In addition, we may not be able to locate suitable replacements for any key employees who leave.

#### We face risks from strategic transactions, such as acquisitions, divestitures, joint ventures and other similar arrangements that we may pursue or undertake.
We periodically evaluate potential strategic acquisition or investment opportunities and consider divestitures of non-strategic business lines and have historically pursued and undertaken certain of those opportunities. For example, in 1987 and 1994, we established our joint ventures in India and China, respectively, for our entry into those two markets, and have continued to explore additional joint ventures since then. Acquisitions, joint ventures and strategic investments could negatively impact our profitability and financial condition due to operating and integration inefficiencies, the incurrence of debt, contingent liabilities and amortization of expenses related to intangible assets. There are also a number of other risks inherent to acquisitions, including the potential loss of key customers and suppliers of the acquired businesses or adverse effects on relationships with existing customers and suppliers; the inability to identify all issues or potential liabilities during diligence; difficulties or delays in integrating and assimilating the acquired operations and products or in realizing projected efficiencies, growth prospects, cost savings and synergies; the loss of key employees; the potential increase in exposure to more onerous or costly legal and regulatory requirements and the diversion of management's time and attention away from other business matters, which may prevent us from realizing the anticipated return on our investment. Additionally, we may require substantial additional capital, which could be raised pursuant to debt or equity financings, to pursue acquisitions and other business ventures, if any, in the future. We cannot assure you that we will be able to raise such additional capital on commercially reasonable terms, or at all. Divestitures may involve significant challenges and risks, such as difficulty separating out portions of our business or the potential loss of revenue or negative impacts on margins. Divestitures may also result in ongoing financial or legal proceedings, such as retained liabilities, which could have an adverse impact on our results of operations, financial condition and cash flows. Further, during the pendency of a proposed transaction, we may be subject to risks related to a decline in the business, loss of employees, customers or suppliers and the risk that the transaction may not close, any of which could adversely impact our business. Additionally, because acquisitions, divestitures, joint ventures, strategic partnerships and other similar arrangements are inherently risky, any such transaction may not be successful and may, in some cases, harm our business, financial condition or results of operations. Failure to complete any such planned transaction may adversely impact our business, financial condition or results of operations.

 ***Our long term performance targets assume certain ongoing productivity improvements; if we do not successfully manage productivity improvements, we may not realize the expected benefits.***

Our long term performance targets assume certain ongoing productivity improvements as a key component of our business strategy to, among other things, contain operating expenses, increase operating efficiencies and align manufacturing capacity to demand. We may not be able to realize the expected benefits and cost savings if we do not successfully execute these plans while continuing to invest in business growth. Factors that can cause us to not realize expected benefits or execute our plans for productivity improvements include, but are not limited to, unanticipated costs or complications resulting from the separation, unforeseen complications arising from leveraging existing filtration technology to new industries, global commodities pricing and availability, manufacturing costs and delays, inflationary pressures and labor availability. If any of these, or other, difficulties are encountered, expected benefits of such cost savings may not otherwise be realized, which could adversely impact our business, financial condition or results of operations.

#### A number of our customers operate in similar cyclical industries and economic conditions in these industries could impact our sales.
Three customers each accounted for 10% or more of our net sales in 2022 and 2021. Cummins is one of our key customers and accounted for approximately 19% of our net sales in 2022. While our

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relationship with Cummins will be secured through our first-fit supply agreement and aftermarket supply agreement, Cummins operates in both global off-highway and on-highway industries and is subject to the cyclicality of those industries. A number of our other customers, including PACCAR and the Traton Group, are also concentrated in similar cyclical industries, including off-highway industries such as construction, agriculture, mining, oil and gas and power generation, as well as on-highway industries such as truck, bus, vocational and recreational vehicles. This exposes our business to additional risk based on our customers' respective economic conditions. Our success is also dependent on retaining key customers, which requires us to successfully manage relationships and anticipate the needs of our customers in the channels in which we sell our products. Changes in the economic conditions could materially and adversely impact our business, financial condition or results of operations.

#### Unexpected events, including natural disasters, may increase our cost of doing business or disrupt our operations.
There could be an occurrence of one or more unexpected events, including a terrorist attack, war or civil unrest, a weather event, an earthquake, a pandemic or other catastrophe in countries in which we operate or in which our suppliers are located.

Such an event could result in physical damage to and complete or partial closure of one or more of our headquarters, manufacturing facilities or distribution centers, temporary or long-term disruption in the supply of component products from some local and international suppliers, disruption in the transport of our products to customers and disruption of information systems. Prior to the distribution, Cummins' existing insurance coverage, and following the distribution, the insurance coverage we expect to enter into, may not provide protection for all costs that may arise from any such event. Any disruption in our operations could have an adverse impact on our ability to meet our customer needs or may require us to incur additional expense in order to produce sufficient inventory. Certain unexpected events could adversely impact our business, financial condition or results of operations.

#### Our business is exposed to potential warranty claims.
We face an inherent business risk of exposure to warranty claims if our products' failure to perform to specification results, or is alleged to result in property damage. At any given time, we are subject to various and multiple warranty claims, any one of which, if decided adversely to us, may have a material adverse effect on our reported results of operation in the period in which our liability with respect to any such claim is recognized.

#### Our products are subject to recall for performance or safety-related issues.
Our products are subject to recall for performance or safety-related issues. Product recalls subject us to reputational risk, loss of current and future customers, reduced revenue and product recall costs. Product recall costs are incurred when we decide, either voluntarily or involuntarily, to recall a product through a formal campaign to solicit the return of specific products due to known or suspected performance or safety issues. For example, quality issues were identified with a particular application of a fuel heater, which primarily impacted one customer, resulting in a recall campaign. See Note 11, "PRODUCT WARRANTY LIABILITY" to the historical combined financial statements for additional details. Any significant product recalls could have material adverse effects on our results of operations, financial condition and cash flows. Additionally, any significant returns or warranty claims, as well as the timing of such returns or claims, could result in significant additional costs to us and could adversely affect our business, financial condition or results of operations.

 ***Failure to protect or enforce our intellectual property could reduce or eliminate any competitive advantage and reduce our sales and profitability and the cost of protecting or enforcing our intellectual property may be significant.***

Our long-term success depends on our ability to market innovative competitive products. We own a number of patents, trade secrets, copyrights, trademarks, trade names and other forms of intellectual property related to our products and services throughout the world and the operation of our business, which we rely on to distinguish our services and solutions from those of our competitors. Patents have a limited life and, in some cases, have expired or will expire in the near future. We also have non-exclusive

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rights to intellectual property owned by others in certain of our markets. For example, some of our products may include components that are manufactured by our competitors. Our intellectual property may be challenged, invalidated, stolen, circumvented, infringed or otherwise violated upon by third parties or we may be unable to maintain, renew or enter into new license agreements with third-party owners of intellectual property on reasonable terms, or at all. In addition, the global nature of our business increases the risk that our intellectual property may be subject to infringement, theft or other unauthorized use or disclosure by others. Our ability to protect and enforce intellectual property rights, including through litigation or other legal proceedings, also varies across jurisdictions and in some cases, our ability to protect our intellectual property rights by legal recourse or otherwise may be limited, particularly in countries where laws or enforcement practices are less protective than those in the United States. Our inability to obtain sufficient protection for our intellectual property, or to effectively maintain or enforce our intellectual property rights, could lead to reputational harm and/or adversely impact our competitive position, business, financial condition or results of operations.

Competitors and others may also initiate litigation or other proceedings to challenge the scope, validity or enforceability of our intellectual property or allege that we infringed, misappropriated or otherwise violated their intellectual property. Any litigation or proceedings to defend ourselves against allegations of infringement, misappropriation, or other violations of intellectual property rights, regardless of merit, could be costly, divert attention of management and may not ultimately be resolved in our favor. If we are unable to successfully defend against claims that we have infringed the intellectual property rights of others, we may be prevented from using certain intellectual property or offering certain products, or may be liable for substantial damages, which in turn could materially adversely affect our business, financial condition or results of operations. We may also be required to develop an alternative, non-infringing product that could be costly, time-consuming or impossible, or seek a license from a third party, which may not be available on terms that are favorable to us, or at all. Any of the foregoing could have a material adverse effect on our business, financial condition and results of operations.

 ***If we are unable to implement and maintain effective internal control over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports, the market price of our common stock may be negatively affected and we may default on outstanding debt obligations.***

As a public company, we will be required to maintain internal control over financial reporting and to report any material weaknesses in such internal control. In addition, beginning with our second annual report on Form 10-K, we expect we will be required to furnish a report by management on the effectiveness of our internal control over financial reporting, pursuant to Section 404 of the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act"). Our independent registered public accounting firm will also be required to express an opinion as to the effectiveness of our internal control over financial reporting. At such time, our independent registered public accounting firm may issue a report that is adverse in the event it is not satisfied with the level at which our internal control over financial reporting is documented, designed or operating.

The process of designing, implementing and testing the internal control over financial reporting required to comply with this obligation is time-consuming, costly and complicated. If we are unable to establish or maintain appropriate internal financial reporting controls and procedures, it could cause us to fail to meet our reporting obligations on a timely basis, result in material misstatements in our historical combined financial statements and harm our results of operations. If we identify material weaknesses in our internal control over financial reporting, if we are unable to comply with the requirements of Section 404 of the Sarbanes-Oxley Act in a timely manner or to assert that our internal control over financial reporting is effective, or if our independent registered public accounting firm is unable to express an opinion as to the effectiveness of our internal control over financial reporting, investors may lose confidence in the accuracy and completeness of our financial reports, the market price of our common stock could be negatively affected and we may default on outstanding debt obligations. We could also become subject to investigations by the NYSE, the Securities and Exchange Commission (the "SEC"), or other regulatory authorities, which could require additional financial and management resources.

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#### Risks Related to Legal and Regulatory Issues
 ***Sales of counterfeit versions of our products, as well as unauthorized sales of our products, may adversely affect our reputation, business, financial condition, results of operations and cash flows.***

Third parties may illegally make, distribute and sell counterfeit versions of our products that do not meet the standards of our design, development, manufacturing and distribution processes. Such counterfeit products divert sales from genuine products, often are of lower cost and quality and may pose safety risks. If illegal sales of counterfeit products result in adverse product liability or negative consumer experiences, we may be associated with negative publicity resulting from such incidents. Although we proactively monitor the existence of counterfeit products and initiate actions to seize, remove them from sale or destroy, we may not be able to prevent third parties from manufacturing, selling or purporting to sell counterfeit products competing with our products, which may negatively impact our sales, brand reputation, business, financial condition or results of operations.

 ***Our products are subject to statutory and regulatory requirements that can significantly increase our costs and could have a material adverse impact on our results of operations, financial condition and cash flows.***

Our products are subject to many laws and regulations in the jurisdictions in which we operate. We routinely incur costs in order to comply with these laws and regulations. We may be adversely impacted by new or changing laws and regulations that affect both our operations and our ability to develop and sell products that meet our customers' requirements. The discovery of noncompliance issues could have a material adverse impact on our business, financial condition or results of operations.

Developing products to meet more stringent and changing regulatory requirements, with different implementation timelines and requirements, makes developing products efficiently for multiple markets complicated and could result in substantial additional costs that may be difficult to recover in certain markets. The successful development and introduction of new and enhanced products in order to comply with new regulatory requirements are subject to other risks, such as delays in product development, cost overruns and unanticipated technical and manufacturing difficulties.

In addition to these risks, the nature and timing of government implementation and enforcement of increasingly stringent regulatory standards in our worldwide markets are unpredictable and subject to change. Any delays in implementation or enforcement could result in a loss of our competitive advantage and could have a material adverse impact on our business, financial condition or results of operations.

 ***We operate our business on a global basis and changes in international, national and regional trade laws, regulations, and policies affecting and/or restricting international trade, including sanctions resulting from Russia's military operation in Ukraine, could adversely impact the demand for our products and our competitive position.***

We manufacture, sell and service products globally and rely upon a global supply chain to deliver the raw materials, components, systems and parts that we need to manufacture and service our products. Changes in laws, regulations and government policies on foreign trade and investment can affect the demand for our products and services, causing customers and end-users to shift preferences toward domestically manufactured or branded products and impact the competitive position of our products or prevent us from being able to sell products in certain countries. Our business benefits from free trade agreements, such as the United States-Mexico-Canada Agreement, the U.S. trade relationships with China, Brazil and France and the Comprehensive Economic Partnership Agreement between India and South Korea. Efforts to withdraw from, or substantially modify such agreements or arrangements, in addition to the implementation of more restrictive trade policies, such as more detailed inspections, higher tariffs (including, but not limited to, additional tariffs on the import of steel or aluminum and imposition of new or retaliatory tariffs against certain countries, including based on developments in U.S. — China, U.S. — Russia and EU — Russia relations), import or export licensing requirements, and exchange controls or new barriers to entry, could limit our ability to capitalize on current and future growth opportunities in international markets, impair our ability to ship media from our plant in South Korea directly to our joint venture partners, impair our ability to expand the business by offering new

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technologies, products, and services, and could adversely impact our production costs, customer and end-user demand and our relationships with customers and suppliers. Any of these consequences could have a material adverse effect on our business, financial condition or results of operations.

Embargoes, sanctions and export controls imposed by the U.S. and other governments restricting or prohibiting transactions with certain persons or entities, including financial institutions, to certain countries or regions, or involving certain products, may limit the sales of our products. Embargoes, sanctions, and export control laws are changing rapidly for certain geographies, including with respect to China and Russia. In particular, changing U.S. and European export controls and sanctions on China, as well as other restrictions affecting transactions involving China and Chinese parties and Russia and Russian parties, could affect our ability to collect receivables, provide aftermarket and warranty support for our products, sell products, and otherwise impact our reputation and business, any of which could have a material adverse effect on our business, financial condition or results of operations. Moreover, the enforceability of contracts in China, especially with governmental entities, including state-owned enterprises, is relatively uncertain. If counterparties repudiated our contracts or defaulted on their obligations, we might not have adequate remedies. Such uncertainties or inability to enforce our contracts could materially and adversely affect our business, financial condition or results of operations.

Additionally, the ongoing crisis related to Russia's military operation in Ukraine has resulted in the application of enhanced sanctions against Russia by a number of jurisdictions, including the United States, United Kingdom, and European Union. On March 17, 2022, the Cummins Board of Directors made the decision to suspend all commercial operations in Russia indefinitely. We took steps to wind down operations expeditiously, and this may expose us to customer claims and other inherent risks. Additionally, although we seek to comply with all applicable regulations, these laws and regulations are complex, frequently changing, and increasing in number and there is a risk that we will not be compliant with all relevant regulations at all times. Such potential violations could have material adverse effects on our reputation, brand, business, financial condition or results of operations.

 ***Unanticipated changes in our effective tax rate, the adoption of new tax legislation or exposure to additional income tax liabilities could adversely affect our profitability and cash flow. In addition, audits by tax authorities could result in additional tax payments for prior periods.***

We are subject to income taxes in the U.S. and numerous international jurisdictions. Our income tax provision and cash tax liability in the future could be adversely affected by the adoption of new tax legislation, changes in the amounts or composition of earnings in countries with differing statutory tax rates, changes in the valuation of deferred tax assets and liabilities and the discovery of new information in the course of our tax return preparation process. Additionally, we may be subject to tax audits. These audits can involve complex issues, which may require an extended period of time to resolve and can be highly judgmental. Tax authorities may disagree with certain tax reporting positions taken by us and, as a result, assess additional taxes against us. We may have to engage in litigation to achieve the results reflected in our tax estimates, and such litigation may be time consuming and expensive. We regularly assess the likely outcomes of any audits in order to determine the appropriateness of our tax provision. The amounts ultimately paid upon resolution of these or subsequent tax audits could be materially different from the amounts previously included in our income tax provisions and accruals, which could materially and adversely affect our business, financial condition or results of operations.

#### Changes in tax law relating to multinational corporations could adversely affect our tax position.
The U.S. Congress, government agencies in non-U.S. jurisdictions where we and our affiliates do business, and the Organisation for Economic Co-operation and Development ("OECD") have recently focused on issues related to the taxation of multinational corporations. One example is in the area of "base erosion and profit shifting," where profits are claimed to be earned for tax purposes in low-tax jurisdictions, or payments are made between affiliates from a jurisdiction with high tax rates to a jurisdiction with lower tax rates. The OECD has released several components of its comprehensive plan to create an agreed set of international rules for addressing base erosion and profit shifting. As a result, the tax laws in the United States and other countries in which we do business could change on a prospective or retroactive basis, and any such changes could adversely affect our business, financial condition or results of operations.

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#### Our global operations are subject to laws and regulations that impose significant compliance costs and create reputational and legal risk.
Due to the international scope of our operations, we are subject to a complex system of commercial regulations around the world. Recent years have seen an increase in the development and enforcement of laws regarding trade compliance as well as new regulatory requirements regarding privacy and data protection, such as the European Union General Data Protection Regulation. Our foreign subsidiaries and affiliates are governed by laws, rules and business practices that differ from those of the U.S. The activities of these entities may not comply with U.S. laws or business practices or our Code of Business Conduct. Violations of these laws may result in severe criminal or civil sanctions, could disrupt our business and result in an adverse effect on our reputation, business and results of operations, financial condition and cash flows. We cannot predict the nature, scope or effect of future regulatory requirements to which our operations might be subject or the manner in which existing laws might be administered or interpreted.

We are subject to national and international anti-corruption laws and regulations laws, such as the U.S. Foreign Corrupt Practices Act ("FCPA"), the U.K. Bribery Act (the "Bribery Act") and export controls and economic sanctions programs, including those administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC"), relating to our business and our employees. As part of our business, we deal with state-owned business enterprises, the employees of which are considered foreign officials for purposes of the FCPA's prohibition on providing anything of value to foreign officials for the purposes of obtaining or retaining business or securing any improper business advantage. In addition, the provisions of the Bribery Act extend beyond bribery of foreign public officials and also apply to transactions with individuals that a government does not employ. Some of the international locations in which we operate lack a developed legal system and have higher than normal levels of corruption. Our continued expansion outside the United States, including in China, India and developing countries, and our development of new partnerships worldwide, could increase the risk of FCPA, OFAC or Bribery Act violations in the future. Despite our policies, procedures and compliance programs, our internal control and compliance systems may not be able to protect us from prohibited acts willfully committed by our employees, agents or business partners that would violate such applicable laws and regulations. Additionally, there can be no assurance that our policies and procedures will effectively prevent us from violating these regulations in every transaction in which we may engage or provide a defense to any alleged violation. In particular, we may be held liable for the actions that our joint venture partners take inside or outside of the United States, even though our partners may not be subject to these laws. Any such improper acts could damage our reputation, subject us to civil or criminal judgments, fines or penalties, and could otherwise disrupt our business.

Our operations are also subject to certain antitrust and competition laws in the jurisdictions in which we conduct our business, in particular the United States and Europe. These laws prohibit, among other things, anticompetitive agreements and practices. If any of our commercial agreements or practices are found to violate or infringe such laws, we may be subject to civil and other penalties. We may also be subject to third-party claims for damages. Further, agreements that infringe antitrust and competition laws may be void and unenforceable, in whole or in part, or require modification in order to be lawful and enforceable. Accordingly, any violation of these laws could harm our reputation and could have a material adverse effect on our business, financial condition or results of operations.

From time to time, we are subject to litigation or other commercial disputes and other legal and regulatory proceedings relating to our business, including actual or perceived failure to comply with the laws and regulations mentioned above. Due to the inherent uncertainties of any litigation, commercial disputes or other legal or regulatory proceedings, we cannot accurately predict their ultimate outcome, including the outcome of any related appeals. An unfavorable outcome could materially adversely impact our business, financial condition and results of operations. Furthermore, as required by U.S. GAAP, we establish reserves based on our assessment of contingencies, including contingencies related to legal claims asserted against us. Subsequent developments in legal proceedings may affect our assessment and estimates of the loss contingency recorded as a reserve and require us to make payments in excess of our reserves, which could have an adverse effect on our business, financial condition or results of operations.

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#### We may be adversely impacted by the effects of climate change and may incur increased costs and experience other impacts due to climate change.
The scientific consensus indicates that emissions of GHG continue to alter the composition of Earth's atmosphere in ways that are affecting, and are expected to continue to affect, the global climate. The potential impacts of climate change on our customers and end-users, product offerings, operations, facilities and suppliers are accelerating and uncertain, as they will be particular to local, customer-specific circumstances. These potential impacts may include, among other things, rising sea levels and the frequency and severity of weather events as well as customer and end-user product changes either through preference or regulation.

Concerns regarding climate change may lead to additional international, national, regional and local legislative and regulatory responses. For example, recent proposed SEC rulemaking to enhance disclosures regarding the effects of climate change could increase our reporting and compliance costs. Similarly, enhanced mandatory climate reporting requirements came into force in 2019 and again in 2022 in the United Kingdom and broader sustainability reporting requirements (including climate) will apply to certain European Union entities on a staged basis from 2024 and to their non-European Union parent undertakings from 2028. We believe these reporting requirements could increase our reporting and compliance costs. Various stakeholders, including legislators and regulators, shareholders and non-governmental organizations, are continuing to look for ways to reduce GHG emissions, including limits on GHG emissions and measures intended to incentivize GHG reduction such as fuel taxes, carbon taxes and subsidies. As the impact of any future GHG legislative or regulatory requirements on our global businesses and products is dependent on the timing, scope and design of the mandates or standards, we are currently unable to predict the potential impact. Moreover, as discussed in "— *Risks Related to Our Business Operations — Evolving customer needs and developing technologies may threaten our existing business and growth*", certain consequences of climate change, such as shifts in customer and end-user preferences and the pace and extent to which customers and end-users adopt alternative power, including electrified vehicles, could impact demand for our products and could have a material adverse effect on our business, financial condition or results of operations.

#### Our operations are subject to increasingly stringent environmental laws and regulations, and we are also subject to laws requiring cleanup of contaminated property.
Our plants and operations are subject to increasingly stringent environmental laws and regulations in all of the countries in which we operate, including laws and regulations governing air emissions, wastewater and storm water discharges and the generation, handling, storage, transportation, treatment and disposal of waste materials. While we believe that we are in compliance in all material respects with these environmental laws and regulations, there can be no assurance that we will not be adversely impacted by costs, liabilities or claims with respect to existing or subsequently acquired operations, under either present laws and regulations or those that may be adopted or imposed in the future. We are also subject to laws requiring the cleanup of contaminated property, including laws that impose strict liability for contamination at owned property and for hazardous materials or wastes generated by our plants and operations or those of our predecessors. If a release of hazardous substances occurs at or from any of our (or our predecessors') current or former properties or at a landfill or another location where we or our predecessors have disposed of (or arranged for the disposal of) hazardous materials, we may be held liable for the contamination and the amount of such liability could be material.

#### Risks Related to Cybersecurity and Information Technology Infrastructure

#### Our information technology environment and our products are exposed to potential security breaches or other disruptions, which may adversely impact our operations.
We rely on the capacity, reliability and security of our information technology environment and data security infrastructure in connection with various aspects of our business activities. We also rely on our ability to expand and continually update these technologies and related infrastructure in response to the changing needs of our business. As we implement new technologies, they may not perform as expected. We face the challenge of supporting our older technologies and implementing necessary

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upgrades. In addition, some of these technologies are managed by third-party service providers and are not under our direct control. If we experience a problem with an important technology, including during upgrades and/or new implementations of technologies, the resulting disruptions could have an adverse effect on our business and reputation. As customers and end-users adopt and rely on cloud-based digital technologies and services we offer, any disruption of the confidentiality, integrity or availability of those services could have an adverse effect on our business and reputation.

Our operations routinely involve collecting, receiving, storing, processing and transmitting personal, sensitive and other confidential information pertaining to our business, customers, end-users, dealers, suppliers, employees and other sensitive matters. The data handled by our technologies is vulnerable to security threats. In addition, our products contain interconnected and increasingly complex technologies that monitor and transmit data and these technologies are potentially subject to cyber-attacks and disruption. For example, we have developed the filtration intelligence technology (FIT) system, which embeds sensors and software within the filtration equipment system designed to optimize filtration maintenance and monitor equipment health. In addition, as a result of the COVID-19 pandemic a large percentage of our salaried employees continue to work remotely full or part-time. This remote working environment may pose a heightened risk for security breaches or other disruptions of our information technology environment. The impact of a significant information technology event on either our information technology environment or our products could negatively affect the performance of our products, our reputation, and competitive position.

While we continually work to safeguard our information technology environment and mitigate potential risks, there is no assurance that these actions will be sufficient to timely detect or prevent information technology security threats, such as security breaches, computer malware, ransomware attacks and other cyber-attacks, which are increasing in both frequency and sophistication, along with power outages or hardware failures. These threats could result in unauthorized access, use, modification, disclosure, loss or theft of information, including intellectual property, costly investigations, remediation efforts, notification requirements, privacy or data protection-related compliance obligations, legal claims or proceedings, government enforcement actions, civil or criminal penalties, fines, diversion of management attention, operational changes or other response measures, loss of customer confidence in our security measures, loss of business partners, and negative publicity that could adversely affect our brand, reputation, business, results of operations and financial condition. As of the date hereof, we are insured under Cummins' general liability and cyber liability insurance policies. Pursuant to the separation agreement and certain other agreements with Cummins, we will continue to be insured under Cummins' insurance policies until the distribution. Following the distribution, we will be responsible for obtaining and maintaining at our own cost our own insurance coverage. Prior to the distribution, Cummins' existing insurance policies, and following the distribution, the insurance policies we expect to enter into, may not cover, or may cover only a portion of, any potential claims related to such events or may not be adequate to indemnify us for all or any portion of liabilities that may be imposed or defense costs incurred. We also cannot be certain that prior to the distribution Cummins' existing insurance coverage will continue to be available, or that following the distribution we will be able to find insurance coverage, on acceptable terms or in amounts sufficient to cover the potentially significant losses that may result from a security incident or breach or that the insurer will not deny coverage of any future claim.

#### A number of our operations depend on sophisticated information technology and infrastructure, which may be disrupted by the separation.
Prior to the completion of this offering and in connection with the separation, we will substantially change a number of our business processes, including changes in our financial reporting and supply chain processes and with respect to where and from whom we obtain information technology systems. In order to support the new business processes under the terms of our transitional services agreement with Cummins, we will make significant configuration, process and data changes within many of the information technology systems we use. If our information technology systems and processes are not sufficient to support our business and financial reporting functions, or if we fail to properly implement our new business processes, manufacturing, shipping, invoicing or other critical operating activities may be interrupted or negatively affected, and our financial reporting may be delayed or inaccurate and, as a result, our business, financial condition and results of operations may be materially adversely

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affected. Even if we are able to successfully configure and change our systems, all technology systems, even with implementation of security measures, are vulnerable to disability, failures or unauthorized access. If our information technology systems were to fail or be breached, this could materially adversely affect our reputation and our ability to perform critical business functions, and sensitive and confidential data could be compromised.

#### Risks Related to Finance and Financial Market Conditions

#### We are subject to foreign currency exchange rate and other related risks.
We conduct operations in many areas of the world involving transactions denominated in a variety of currencies. We are subject to foreign currency exchange rate risk to the extent that our costs are denominated in currencies other than those in which we earn revenues. In addition, since our financial statements are denominated in U.S. dollars, changes in foreign currency exchange rates between the U.S. dollar and other currencies have had, and will continue to have, an impact on our results of operations, financial condition and cash flows. For example, 38% of our net sales in 2022 were denominated in a currency other than the U.S. dollar. Additionally, the appreciation of the U.S. dollar against foreign currencies could have a negative impact on our consolidated results of operations due to translation impacts. Cummins has a hedging program to mitigate foreign currency exchange rate risk across its businesses, which included foreign currency exchange rate risk faced by the filtration business. Although Atmus has implemented certain aspects of its own hedging program, it is still evaluating other aspects, such as cash flow hedges, and there can be no assurances that we will be able to establish the same program as Cummins or at similar costs.

 ***We have recorded goodwill as a result of prior acquisitions, and an economic downturn could cause these balances to become impaired, requiring write-downs that would reduce our operating income.***

Goodwill amounted to approximately $84.7 million as of December 31, 2022. As required under current accounting rules, we assess goodwill for impairment at least annually and whenever changes in circumstances indicate that the carrying amount may not be recoverable from estimated future cash flows. As of December 31, 2022, management has deemed there is no impairment of our recorded goodwill. However, if future operating performance at one or more of our operating units were to fall significantly below forecast levels or if market conditions for one or more of our acquired businesses were to decline, we could be required to incur a non-cash charge to operating income for impairment. Management will continue to monitor our operating results, our market capitalization, and the impact of the economy to determine if there is an impairment of goodwill in future periods.

#### Risks Related to Macroeconomic and Geopolitical Conditions
 ***Political, economic and social uncertainty in geographies where we have significant operations or large offerings of our products could significantly change the dynamics of our competition, customer and end-user base and product offerings and impact our growth opportunities globally.***

Our business is subject to the political, economic and other risks that are inherent in operating in numerous countries, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • public health crises, including the spread of a contagious disease, such as COVID-19 and other catastrophic events;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the difficulty of enforcing agreements and collecting receivables through foreign legal systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • trade protection measures and import or export licensing requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the imposition of taxes on foreign income and tax rates in certain foreign countries that exceed those in the U.S.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the imposition of tariffs, exchange controls, sanctions or other restrictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • difficulty in staffing and managing widespread operations and the application of foreign labor regulations;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • required compliance with a variety of foreign laws and regulations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • changes in general economic and political conditions, including changes in relationship with the U.S., in countries where we operate, particularly in China, Russia and other emerging markets.

As we continue to operate and grow our business globally, our success will depend, in part, on our ability to anticipate and effectively manage these and other related risks. There can be no assurance that the consequences of these and other factors relating to our multinational operations will not have a material adverse effect upon us.

In addition, there continues to be significant uncertainty about the future relationships between the U.S. and China and the U.S. and Russia, including with respect to trade policies, treaties, government regulations and tariffs.

We currently have significant operations in China, including a joint venture and our wholly-owned subsidiary Cummins Filtration China. In 2022, total sales in China, including consolidated and non-consolidated sales from our joint venture, were approximately $233.0 million, a decrease of $97.0 million compared to approximately $330 million in 2021. In the first half of 2022, the resurgence of COVID-19 in China led to lockdowns in several cities that negatively impacted the economy and our end markets. Among the cities impacted by these lockdowns was Shanghai, which resulted in the shutdowns of our and our China JV's Shanghai-based facilities, and the results from our China operations were adversely impacted for the year ended December 31, 2022 as a result of the shutdowns. Equity, royalty and interest income from our China JV for 2022 was $5.3 million, a decrease of $4.9 million compared to $10.2 million for 2021. To the extent lockdowns continue to be used to combat COVID-19, we expect they would contribute to further disruptions in the global supply chain, which may negatively impact both our net sales and profitability going forward. Given the unpredictable nature of COVID-19 and the response to it, we cannot predict the impact on future quarters at this time. In addition, any increased trade barriers or restrictions on global trade, especially trade with China, could adversely impact our competitive position, results of operations, financial condition and cash flows.

In 2022, prior to Russia's military operation in Ukraine, we had a retail presence in Russia, with less than 1.0% of our net sales being generated there in 2022, down from 2.5% in 2021. As a result of the sanctions announced to date against Russia by the U.S. and other countries, including restrictions on selling or importing goods, services or technology in or from affected regions and travel bans and asset freezes impacting connected individuals and political, military, business and financial organizations in Russia, we have suspended our activities in Russia. The U.S. and other countries could impose wider sanctions and take other actions should the conflict escalate further. It is not possible to predict the broader consequences of this conflict, which could impact our sales, cash flow, and results of operations. Following the Cummins Board of Directors' decision on March 17, 2022 to suspend all commercial operations in Russia indefinitely, we have taken action to wind down our operations in Russia. As a result of this suspension, we incurred costs of approximately $2.3 million in 2022. See Note 3, "SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES" to the combined financial statements for additional details. The aggregate impact of winding down our business and operations in Russia was not material to our overall business because we had no assets or capital in Russia at risk, and historically our operations have been limited to the distribution and sale of our products, for which Russia represented less than 1.0% of our net sales in 2022. However, such impact is not yet known and there is a risk that, despite our expectation, such winding-down could negatively impact our business, financial condition, cash flows and results of operations in this region.

#### Risks arising from uncertainty in worldwide and regional market and economic conditions may harm our business and make it difficult to project long-term performance.
Our business is sensitive to global macroeconomic conditions. Future macroeconomic downturns may have an adverse effect on our business, results of operations and financial condition, as well as on our distributors, customers, end-users and suppliers, and on activity in many of the industries and markets we serve. Among the economic factors which may have such an effect are: public health crises such as pandemics and epidemics, including the COVID-19 pandemic, currency exchange rates,

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difficulties entering new markets, tariffs and governmental trade and monetary policies, and general economic conditions such as inflation, deflation, interest rates and credit availability.

For example, as a result of the global economic downturn triggered by the COVID-19 pandemic, we experienced a 3.8% decline in net sales during 2020 compared to the previous year. Most economies across the world slowed and, although we saw a recovery in 2021 (16.7% growth in net sales in 2021 compared to 2020) and 2022 (8.6% growth in net sales in 2022 compared to 2021), there is still uncertainty as to whether the recovery will be sustained. If any or all of these major markets that we sell to were to endure a continued slowdown or recession due to the impacts of the COVID-19 pandemic, other public health crises, epidemics or pandemics or otherwise decline, it could have a material adverse effect on our results of operations, financial condition and cash flows. Additionally, in response to rising rates of inflation, the Federal Reserve Board increased the benchmark federal funds interest rates multiple times in 2022, and has signaled that there may be additional federal funds interest rate increases during 2023. This rising rate environment and the speed with which it has been occurring could have a material adverse effect on our business, financial condition or results of operations.

In addition, we face several risks associated with international business and are subject to global events beyond our control, including war, trade disputes, economic sanctions, trade wars and their collateral impacts and other international events. Any of these events could have a material adverse effect on our reputation, business, financial condition or results of operations. There may be changes to our business if there is instability, disruption or destruction in a significant geographic region, regardless of cause, including war, terrorism, riot, civil insurrection or social unrest; and natural or man-made disasters, including famine, flood, fire, earthquake, storm or disease.

In February 2022, Russian military forces launched significant military action against Ukraine. The impact to Ukraine and Russia, as well as actions taken by other countries, including new and stricter sanctions by the U.S., Canada, the United Kingdom, the European Union and other countries and organizations against officials, individuals, regions, and industries in Russia, Ukraine and Belarus. Each country's potential response to such sanctions, tensions, and military actions could have a material adverse effect on our business, financial condition and results of operations. It is not possible to predict the broader consequences of this conflict, including related geopolitical tensions, and the measures and retaliatory actions taken by the U.S. and other countries in respect thereof as well as any counter measures or retaliatory actions by Russia or Belarus in response, including, for example, potential cyberattacks or the disruption of energy exports. These consequences are likely to cause regional instability, geopolitical shifts, and could materially adversely affect global trade, currency exchange rates, regional economies and the global economy. Although we have increased our cybersecurity monitoring and taken other steps to manage contingency planning in response to the conflict, the situation remains uncertain. While it is difficult to predict the impact of any of the foregoing, the conflict and actions taken in response to the conflict could impact our business, financial condition or results of operations.

 ***The COVID-19 pandemic disrupted our operations and may have a material adverse effect on our business and financial condition if governments impose restrictive measures to prevent future outbreaks that affect our operations.***

The outbreak of COVID-19 in early 2020, along with the response to the pandemic by governmental and other actors, disrupted our operations and may have negative impacts on our operations in the future, which impact may be material. The pandemic triggered a significant downturn in our markets globally, which negatively impacted our sales and results of operations during 2020. While the majority of the negative impacts to demand largely subsided in 2021, we still experienced supply chain disruptions and the related financial impacts reflected as increased cost of sales in 2022. As we head into 2023, cases of coronavirus and other respiratory diseases could increase, the severity of which could provoke government lockdowns and impact our existing supply chain by delaying the delivery of materials used in our products. Additionally, we are unable to predict the impact of the ongoing governmental regulations that may be imposed in response to this or other pandemics.

Further, our industry was, and to some extent, continues to be, impacted by supply chain constraints leading to shortages across multiple components categories and limiting our collective ability to meet end-user demand. Our customers also are experiencing other supply chain issues and slowing production.

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Should the supply chain issues continue for an extended period of time, or the improvement we are seeing reverse course, the impact on our production and supply chain could have a material adverse effect on our results of operations, financial condition and cash flows. Our management team continues to monitor and evaluate all of these factors and the related impacts on our business and operations. We worked diligently to minimize the supply chain impacts to our business and to our customers in response to the risks and negative impacts associated with the COVID-19 pandemic, and we are continuing to do so. However, the financial impact to us cannot be forecasted accurately at this time and there can be no assurance that these improvements that we are seeing will continue in the future.

#### Risks Related to the Separation, the Distribution and our Relationship with Cummins

#### The anticipated benefits of the separation may not be achieved and the separation may adversely affect our business.
The anticipated benefits of the separation may not be achieved due to inherent risks associated with the separation. If these risks materialize, they may prevent us from achieving the anticipated benefits of the separation and our results of operation, financial conditions, prospects and business could be materially and adversely affected. These risks include, among others:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • as a current part of Cummins, our businesses benefit from Cummins' size and purchasing power in procuring certain goods, services and technologies. After the separation, as a separate entity, we may be unable to obtain these goods, services and technologies at prices or on terms as favorable as those Cummins obtained prior to the separation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the actions required to separate our and Cummins' respective businesses could disrupt our and Cummins' operations and divert management's attention away from operating and growing our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • certain costs and liabilities that were otherwise less significant to Cummins as a whole will be more significant for us as a separate company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • we will incur one-time costs in connection with the transition to being a separate, publicly-traded company, and those costs may be higher than anticipated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • we may also incur recurring costs for certain functions previously performed by Cummins, such as accounting, tax, legal, human resources and other general administrative functions that are higher than the amounts reflected in our historical financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • following the separation, we may be more susceptible to capital market fluctuations and other adverse events than if we were still a part of Cummins;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • following the separation, our business will be less diversified than Cummins' business prior to the separation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • to preserve the tax-free treatment of the separation and distribution for U.S. federal income tax purposes to Cummins, if pursued, under the tax matters agreement that we will enter into with Cummins, we will be restricted from taking any action that prevents such transactions from being tax-free for U.S. federal income tax purposes. These restrictions may limit our ability to pursue certain strategic transactions or engage in other transactions that might increase the value of our business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the separation will require us to implement interim operational arrangements in certain markets, such as Mexico, due to regulatory requirements, the need to obtain consents from local governmental authorities, and other business reasons, which may introduce additional complexity to our business than if we were still part of Cummins.

If we fail to achieve some or all of the benefits expected to result from the separation, or if such benefits are delayed, our business, financial condition or results of operations could be adversely affected.

 ***As a result of the separation, we will lose Cummins' reputation, economies of scale, capital base and other resources and may experience difficulty operating as a standalone company.***

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Our association with Cummins has contributed to the relationships we have with certain significant customers and suppliers due to the relationship those customers and suppliers had with Cummins. Currently, Cummins cooperates in selling our products to its customers. After the separation, we may not be able to attract new customers of Cummins, or retain existing customers, without Cummins' support. If this occurs, it could result in reduced sales of our products.

The loss of Cummins' scale, capital base and financial strength may also prompt suppliers to reprice, modify or terminate their relationships with us, in particular if such suppliers had placed a premium on the Cummins brand or our relationship with Cummins. In addition, Cummins' reduction of its ownership of our company could potentially cause some of our existing agreements and licenses to be terminated. We cannot predict with certainty the effect that this offering, the separation or the distribution will have on our business, our clients, vendors or other persons, or whether our Fleetguard brand will experience dilution in the marketplace.

Further, because we have no experience operating as a standalone company in the past, we may encounter difficulties doing so in the future. For example, if we do not accurately estimate the level of resources required to operate as a standalone company, we may need to acquire additional assets and resources, which could be costly, and in connection with the separation, may also face difficulty in separating certain aspects of our business from Cummins, including incurring accounting, tax, legal and other professional services costs, recruiting and relocation costs associated with hiring or reassigning our personnel, costs related to establishing a new brand identity in the marketplace and costs to separate information systems and creating standalone administrative units in our business post-separation. Our business, financial condition and results of operations could be materially adversely affected if we have difficulty operating as a standalone company, fail to acquire assets that prove to be important to our operations, or incur unexpected costs as we separate our assets from Cummins' assets or integrate newly-acquired assets.

 ***For so long as Cummins controls a majority of the voting power of our outstanding common stock, we will qualify for, and intend to rely on, certain exemptions from NYSE corporate governance requirements. Stockholders will not have the same protections afforded to stockholders of companies that are subject to all NYSE corporate governance requirements.***

Upon completion of this offering, we will qualify as a "controlled company" within the meaning of the corporate governance standards of the NYSE because Cummins will control a majority of the voting power of our outstanding common stock entitled to vote in the election of directors. A "controlled company" may elect not to comply with certain corporate governance requirements of the NYSE. Consistent with this, the separation agreement will provide that, for so long as we are a "controlled company," we will take advantage of available "controlled company" exemptions from compliance with certain corporate governance requirements under NYSE rules, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the requirement that a majority of the board of directors consist of independent directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the requirement that our governance and nominating committee be composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities or if no such committee exists, that our director nominees be selected or recommended by independent directors constituting a majority of the Board's independent directors in a vote in which only independent directors participate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the requirement that our talent management and compensation committee be composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the requirement for an annual performance evaluation of our governance and nominating committee and talent management and compensation committee.

Following this offering, we intend to utilize certain of these exemptions. While these exemptions are available to us as a controlled company, we recognize the value of independent directors as we establish a new company and intend to transition to a majority independent board, majority independent talent management and compensation committee and majority independent governance and

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nominating committee. We expect to have a majority independent audit committee upon this offering and will transition to a fully independent audit committee within the first twelve months after this offering.

 ***Following the completion of the offering, Cummins will continue to have significant control over us for a period of time, which could continue indefinitely, preventing you and other stockholders from influencing significant decisions.***

Immediately following the completion of this offering, Cummins will own approximately % of our outstanding common stock (or % if the underwriters exercise their option to purchase additional shares in full). Cummins has indicated that, following completion of the offering, it intends to divest its interest in us. However, Cummins is under no obligation to do so or to dispose of any of its shares of our common stock, whether pursuant to the distribution or otherwise. A determination whether to effect the distribution or other disposal of any of our shares of common stock, and the timing thereof, is within Cummins' sole discretion. If the distribution does not occur, or if Cummins does not otherwise dispose of its shares of our common stock, the risks relating to Cummins' control of us will continue to be relevant to our stockholders. These risks include reduced liquidity of our shares of common stock and extended control of our business by Cummins. The liquidity of shares of our common stock in the market would be more constrained than if the distribution had occurred, as up to % of our common stock would continue to be held by Cummins, which would reduce liquidity and could depress the price of our common stock.

For so long as Cummins controls the majority of the voting power of our outstanding common stock, it will determine the outcome of all corporate actions requiring stockholder approval. Even if Cummins were to dispose of certain of its shares of our common stock such that it would control less than a majority of the voting power of our outstanding common stock, it would likely be able to influence the outcome of corporate actions so long as it retains a significant portion of our common stock. During the period of Cummins' significant ownership, investors in this offering may not be able to affect the outcome of such corporate actions. For such time as Cummins owns a controlling interest in or a significant portion of our common stock, it generally will be able to control or significantly influence, directly or indirectly and subject to applicable law, all matters affecting us, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the election of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • determinations with respect to our business direction and policies, including the appointment and removal of officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • determinations with respect to corporate transactions, such as mergers, business combinations or the acquisition or the disposition of assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • our financing and dividend policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • termination of, changes to or determinations under our agreements with Cummins relating to the separation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • changes to any other agreements that may adversely affect us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • determinations with respect to our tax returns; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • compensation and benefits programs and other human resources policy decisions.

Because Cummins' interests may differ from ours or from those of our other shareholders, actions that Cummins takes with respect to us, as our controlling shareholder, may not necessarily be in the best interest of our other shareholders.

 ***We, or Cummins, may fail to perform under various transaction agreements that will be executed as part of the separation or we may fail to have necessary systems and services in place when certain of the transaction agreements expire.***

The separation agreement and other agreements to be entered into in connection with the separation will determine the allocation of assets and liabilities between Cummins and us following the separation for those respective areas and will include any necessary indemnifications related to liabilities and obligations. The transition services agreement will provide for the performance of certain services by

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Cummins and us for the benefit of the other for a period of time after the separation. We will rely on Cummins after the separation to satisfy its performance and payment obligations under these agreements. If Cummins is unable to satisfy its obligations under these agreements, including its indemnification obligations, we could incur operational difficulties or losses. If we do not have in place our own systems and services, or if we do not have agreements with other providers of these services once certain transaction agreements expire, we may not be able to operate our businesses effectively and our profitability may decline. We are in the process of creating our own, or engaging third parties to provide, systems and services to replace many of the systems and services that Cummins currently provides to us. However, we may not be successful in implementing these systems and services or in transitioning data from Cummins' systems to us. In addition, we have historically received certain informal support from Cummins, including customer relationship management, marketing, communications, technical support, market intelligence and market data, which may not be addressed in our transition services agreement. The level of this informal support may diminish following this offering and may be eliminated following the distribution.

In addition, we expect this process to be complex, time-consuming and costly. We also are establishing or expanding our own tax, treasury, internal audit, investor relations, corporate governance and listed company compliance and other corporate functions. We expect to incur one-time costs to replicate, or outsource from other providers, these corporate functions to replace the corporate services that Cummins historically provided us prior to the separation. Any failure or significant downtime in our own financial, administrative or other support systems or in the Cummins financial, administrative or other support systems during the transitional period during which Cummins provides us with support could negatively impact our results of operations or prevent us from paying our suppliers and employees, executing business combinations and foreign currency transactions or performing administrative or other services on a timely basis, which could negatively affect our results of operations.

In particular, our day-to-day business operations rely on our information technology systems. A significant portion of the communications among our personnel, customers and suppliers take place on our information technology platforms. We expect the separation of information technology systems from Cummins to be complex, time-consuming and costly. There is risk of data loss in the process of transferring information technology. As a result of our reliance on information technology systems, the cost of such information technology integration and transfer and any such loss of key data could have an adverse effect on our business, financial condition and results of operations.

In addition, our historical combined financial statements include the attribution of certain assets and liabilities that historically have been held at the Cummins corporate level but which are specifically identifiable or attributable to the businesses being transferred to us in connection with the separation. The value of the assets and liabilities we assume in connection with the separation could ultimately be materially different than such attributions, which could have a material adverse effect on our business, financial condition or results of operations.

 ***After the separation, certain of our executive officers and directors may have actual or potential conflicts of interest because of their equity interest in Cummins. Also, certain of Cummins' current executive officers also serve as directors of our company, which may create conflicts of interest, or the appearance of conflicts of interest.***

Because of their current or former positions with Cummins, certain of our executive officers and directors own equity interests in Cummins. Continuing ownership of shares of Cummins common stock and equity awards could create, or appear to create, potential conflicts of interest if we and Cummins face decisions that could have implications for both Cummins and us, after the separation. In addition, certain of Cummins' current executive officers also serve as directors of our company, and this could create, or appear to create, potential conflicts of interest when we and Cummins encounter opportunities or face decisions that could have implications for both companies following the separation or in connection with the allocation of such directors' time between Cummins and us. These potential conflicts could arise, for example, over matters such as the desirability of changes in our business and operations, funding and capital matters, regulatory matters, matters arising with respect to the separation agreement and other agreements with Cummins relating to the separation or otherwise, employee retention or recruiting or our dividend policy.

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#### Cummins and its directors and officers will have limited liability to us or you for breach of fiduciary duty.
Subject to any contractual provision to the contrary, Cummins will have no obligation to refrain from engaging in certain actions that may not be in our best interests.

Under our amended and restated certificate of incorporation, neither Cummins nor any officer or director of Cummins, including our directors who are also Cummins employees, except as provided therein, will be liable to us or to our stockholders for breach of any fiduciary duty by reason of any of these activities.

 ***If Cummins completes the distribution, and there is later a determination that the separation, the debt-for-equity exchange and/or the distribution is taxable for U.S. federal income tax purposes because the facts, assumptions, representations or undertakings underlying the IRS private letter ruling and/or any tax opinion of a nationally recognized law or accounting firm are incorrect or for any other reason, then Cummins and its stockholders could incur significant U.S. federal income tax liabilities, and we could incur significant liabilities.***

Cummins received a private letter ruling from the IRS substantially to the effect that, among other things, the separation and distribution will qualify as a transaction that is tax-free for U.S. federal income tax purposes under Sections 355 and 368(a)(1)(D) of the Internal Revenue Code (the "Code"). If the distribution is pursued, completion by Cummins of the distribution may be conditioned on, among other things, the receipt of an opinion of a nationally recognized law or accounting firm, to the effect that, among other things, the distribution will qualify as a transaction that is tax-free for U.S. federal income tax purposes under Sections 355 and 368(a)(1)(D) of the Code. The private letter ruling Cummins received relies, and if the distribution is pursued the opinion of a nationally recognized law or accounting firm would rely, on certain facts, assumptions, representations and undertakings from Cummins and us regarding the past and future conduct of the companies' respective businesses and other matters. If any of these facts, assumptions, representations or undertakings are incorrect or not otherwise satisfied, Cummins and its stockholders may not be able to rely on the private letter ruling or the opinion of a nationally recognized law or accounting firm and could be subject to significant tax liabilities. Notwithstanding the private letter ruling and opinion of a nationally recognized law or accounting firm, the IRS could determine on audit that the separation, the debt-for-equity exchange and/or the distribution is taxable if it determines that any of these facts, assumptions, representations or undertakings are not correct or have been violated or if it disagrees with the conclusions in the opinions that are not covered by the private letter ruling, or for other reasons, including as a result of certain significant changes in the stock ownership of Cummins or us after the distribution. If the separation, the debt-for-equity exchange and/or the distribution is determined to be taxable for U.S. federal income tax purposes, Cummins and/or its stockholders could incur significant U.S. federal income tax liabilities, and we could also incur significant liabilities.

 ***We may be affected by significant restrictions in the tax matters agreement, including on our ability to engage in certain corporate transactions for a two-year period after the distribution in order to avoid triggering significant tax-related liabilities for Cummins.***

To preserve the tax-free treatment for U.S. federal income tax purposes to Cummins of the separation, debt-for-equity exchange and distribution (if pursued), under the tax matters agreement that we will enter into with Cummins, we will be restricted from taking any action that prevents the separation, debt-for-equity exchange and distribution (if pursued) from being tax-free for U.S. federal income tax purposes. Under the tax matters agreement, for the two-year period following the distribution (if pursued), as described in the section entitled "*Certain Relationships and Related Party Transactions — Relationship with Cummins — Tax Matters Agreement — Preservation of the Tax-Free Status of Certain Aspects of the Separation and Distribution*," we will be subject to specific restrictions on our ability to discontinue the active conduct of our trade or business, issue or sell stock or other securities (including securities convertible into our stock but excluding certain compensatory arrangements), sell our assets outside the ordinary course of business and enter into any other corporate transaction which would cause us to undergo a 50% or greater change in our stock ownership (taking into account any change as a result of the debt-for-equity exchange). These restrictions may limit our

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ability to pursue certain strategic transactions or other transactions that we may believe to be in the best interests of our stockholders or that might increase the value of our business, and generally reduce our strategic and operating flexibility. These restrictions will not limit the acquisition of other businesses by us for cash consideration. We may be required to indemnify Cummins against tax liabilities arising as a result of a failure to comply with these restrictions under the tax matters agreement, even if such failure is outside of our control. For example, we may be required to indemnify Cummins under the tax matters agreement against tax liabilities arising as a result of the acquisition of our stock during the two-year period following the distribution (if pursued). For more information, please refer to the section entitled "*Certain Relationships and Related Party Transactions — Relationship with Cummins — Tax Matters Agreement*."

 ***Potential indemnification liabilities to Cummins pursuant to the separation agreement could materially and adversely affect our businesses, financial condition, results of operations and cash flows.***

The separation agreement, among other things, provides for indemnification obligations designed to make us financially responsible for liabilities that may exist relating to our business activities, whether incurred prior to or after the separation. If we are required to indemnify Cummins under the circumstances set forth in the separation agreement, we may be subject to substantial liabilities. Please refer to the section entitled "*Certain Relationships and Related Party Transactions — Relationship with Cummins — Separation Agreement*."

 ***In connection with our separation and distribution from Cummins, Cummins will indemnify us for certain liabilities. However, there can be no assurance that the indemnity will be sufficient to insure us against the full amount of such liabilities, or that Cummins' ability to satisfy its indemnification obligation will not be impaired in the future.***

Pursuant to the separation agreement and certain other agreements with Cummins, Cummins will agree to indemnify us for certain liabilities as discussed further in "*Certain Relationships and Related Party Transactions — Relationship with Cummins — Separation Agreement — Release of Claims and Indemnification*." However, third parties could also seek to hold us responsible for any of the liabilities that Cummins has agreed to retain, and there can be no assurance that the indemnity from Cummins will be sufficient to protect us against the full amount of such liabilities, or that Cummins will be able to fully satisfy its indemnification obligations. In addition, Cummins' insurance will not necessarily be available to us for liabilities associated with occurrences of indemnified liabilities prior to the distribution, and in any event Cummins' insurers may deny coverage to us for liabilities associated with certain occurrences of indemnified liabilities prior to the distribution. Moreover, even if we ultimately succeed in recovering from Cummins or such insurance providers any amounts for which we are held liable, we may be temporarily required to bear these losses. Each of these risks could negatively affect our business, financial condition or results of operations.

#### We may have received better terms from unaffiliated third parties than the terms we will receive in our agreements with Cummins.
The agreements we will enter into with Cummins in connection with the separation, including the separation agreement, transition services agreement, employee matters agreement, tax matters agreement, intellectual property license agreement, first-fit supply agreement, aftermarket supply agreement, transitional trademark license agreement and the registration rights agreement were prepared in the context of our separation from Cummins while we were still a wholly-owned subsidiary of Cummins. Accordingly, during the period in which the terms of those agreements were prepared, we did not have a separate or independent board of directors or a management team that was separate from or independent of Cummins. As a result, the terms of those agreements may not reflect terms that would have resulted from arm's-length negotiations between unaffiliated third parties. Arm's-length negotiations between Cummins and an unaffiliated third party in another form of transaction, such as a buyer in a sale of a business transaction, may have resulted in more favorable terms to the unaffiliated third party. For more information, please refer to the section entitled "*Certain Relationships and Related Party Transactions — Relationship with Cummins — Separation Agreement*."

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#### Risks Related to Our Capital Structure

#### Changes in the capital and credit markets may negatively affect our ability to access financing to support strategic initiatives.
Disruption of the global financial and credit markets may have an effect on our long-term liquidity and financial condition. There can be no assurance that the cost or availability of future borrowings will not be impacted by future capital market disruptions. The term loan agreement and revolving credit facility each contain covenants to maintain certain financial ratios that, under certain circumstances, could restrict our ability to incur additional indebtedness, make investments and other restricted payments, create liens and sell assets.

 ***Upon completion of this offering, we will have substantial indebtedness, consisting of the term loan and the revolving credit facility, and may incur substantial additional debt from time to time, which may impact our ability to service all our indebtedness and react to changes in our industry and limit our ability to seek further financing on favorable terms.***

Upon completion of this offering, we will have approximately $650 million of outstanding indebtedness consisting of the term loan and amounts drawn under the revolving credit facility. See "*Description of Material Indebtedness*."

Our ability to make scheduled payments on or refinance our debt obligations depends on our financial condition and operating performance, which are subject to prevailing economic and competitive conditions and to certain financial, business, legislative, regulatory and other factors beyond our control. We may be unable to maintain a level of cash flows from operating activities sufficient to permit us to pay the principal and interest on our indebtedness.

If our cash flows and capital resources are insufficient to fund our debt service obligations, we could face substantial liquidity problems and could be forced to reduce or delay investments and capital expenditures or to dispose of material assets or operations, alter our dividend policy, seek additional debt or equity capital or restructure or refinance our indebtedness. We may not be able to effect any such alternative measures on commercially reasonable terms or at all and, even if successful, those alternative actions may not allow us to meet our scheduled debt service obligations. The instruments that will govern our indebtedness may restrict our ability to dispose of assets and may restrict the use of proceeds from those dispositions and may also restrict our ability to raise debt or equity capital to be used to repay other indebtedness when it becomes due. We may not be able to consummate those dispositions or to obtain proceeds in an amount sufficient to meet any debt service obligations when due.

In addition, we conduct operations through our subsidiaries and joint ventures. Accordingly, repayment of our indebtedness will depend on the generation of cash flow by these entities, and their ability to make such cash available to us, by dividend, debt repayment or otherwise. These entities may not have any obligation to pay amounts due on our indebtedness or to make funds available for that purpose. These entities may not be able to, or may not be permitted to, make adequate distributions to enable us to make payments in respect of our indebtedness. Each of these entities is a distinct legal entity and, under certain circumstances, legal, tax and contractual restrictions may limit our ability to obtain cash from them. In the event that we do not receive distributions from these entities, we may be unable to make required principal and interest payments on our indebtedness.

Our inability to generate sufficient cash flows to satisfy our debt obligations, or to refinance our indebtedness on commercially reasonable terms or at all, may materially adversely affect our business, financial condition and results of operations and our ability to satisfy our obligations under our indebtedness or pay dividends on our common stock.

We may incur substantial additional debt from time to time, including secured indebtedness, to finance working capital, capital expenditures, research and development, investments or acquisitions or for other purposes. If we do so, the risks related to our high level of debt could intensify. Specifically, our high level of debt could have important consequences, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • making it more difficult for us to satisfy our obligations with respect to our debt;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • limiting our ability to obtain additional financing to fund future working capital, capital expenditures, business development or other general corporate requirements, including dividends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • increasing our vulnerability to general adverse economic and industry conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • exposing us to the risk of increased interest rates as certain of our borrowings are and may in the future be at variable rates of interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • limiting our flexibility in planning for and reacting to changes in our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • impacting our effective tax rate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • increasing our cost of borrowing.

#### Risks Related to Our Initial Public Offering and Ownership of Our Common Stock
 ***We have not yet determined whether or the extent to which we will pay any dividends on our common stock or the timing or amount of any such dividends.***

We have not yet determined whether or the extent to which we will pay any dividends on our common stock after completion of this offering. The declaration, amount and payment of any future dividends will be at the discretion of our board of directors in accordance with applicable law. Our board of directors may take into account general economic and business conditions, our financial condition and operating results, our available cash and current and anticipated cash needs, capital requirements, contractual, legal, tax and regulatory restrictions and implications on the payment of dividends by us to our stockholders or by our subsidiaries to us, and such other factors as our board of directors may deem relevant. Our ability to pay dividends will depend on our ongoing ability to generate cash from operations and on our access to the capital markets. We cannot guarantee that we will pay a dividend in the future or continue to pay any dividends if we commence paying dividends. For more information, please refer to the section entitled "*Dividend Policy*."

 ***Applicable laws and regulations, provisions of our amended and restated certificate of incorporation and our bylaws and certain contractual rights granted to Cummins may discourage takeover attempts and business combinations that stockholders might consider in their best interests.***

Applicable laws, provisions of our amended and restated certificate of incorporation and our bylaws, as will be in effect upon the closing of this offering, will provide certain contractual rights that will be granted to Cummins under the separation agreement may delay, deter, prevent or render more difficult a takeover attempt that our stockholders might consider in their best interests. For example, they may prevent our stockholders from receiving the benefit from any premium to the market price of our common stock offered by a bidder in a takeover context. Even in the absence of a takeover attempt, the existence of these provisions may adversely affect the prevailing market price of our common stock if they are viewed as discouraging takeover attempts in the future.

Our amended and restated certificate of incorporation and our bylaws, as will be in effect upon the closing of this offering, will provide provisions that are intended to encourage prospective acquirers to negotiate with our board of directors and management team, rather than to attempt a hostile takeover, which could deter coercive takeover practices and inadequate takeover bids. These provisions provide for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a classified board of directors, with our board of directors divided into three classes and with each class serving a staggered three-year term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • advance notice requirements regarding how our stockholders may present proposals or nominate directors for election at stockholder meetings (except for Cummins' designation of persons for nomination by the board of directors);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the right of our board of directors to issue one or more series of preferred stock with such powers, rights and preferences as the board of directors shall determine;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • after Cummins no longer owns a majority of the outstanding shares of our common stock, the inability of stockholders to call special meetings of stockholders and the requirement that all stockholder action be taken at a meeting rather than by written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • after Cummins no longer owns a majority of the outstanding shares of our common stock, directors to be removed only by a 75% stockholder vote; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a 75% stockholder vote requirement to amend the section of our amended and restated certificate of incorporation and bylaws related to (i) our board of directors, including related to our classified board and the removal of directors only for cause; (ii) our stockholders, including related to the inability of stockholders to call special meetings of stockholders and the inability of stockholders to act by written consent; and (iii) the ability of our board of directors and our stockholders to amend or repeal our bylaws.

We are also subject to Section 203 of the Delaware General Corporation Law (the "DGCL"), an anti-takeover statute. In general, Section 203 of the DGCL prohibits a publicly held Delaware corporation from engaging in a "business combination" with an "interested stockholder" for a period of three years following the time the person became an interested stockholder.

These limitations may adversely affect the prevailing market price and market for our common stock if they are viewed as limiting the liquidity of our stock or discouraging takeover attempts in the future.

 ***The provision of our amended and restated certificate of incorporation designating the Court of Chancery in the State of Delaware and the federal district courts for the District of Delaware as the exclusive forums for certain types of lawsuits may have the effect of discouraging lawsuits against our directors and officers.***

Although we believe these provisions benefit us by providing increased consistency in the application of applicable law in the types of lawsuits to which they apply, the provisions may have the effect of discouraging lawsuits against our directors and officers and may limit a stockholder's ability to bring a claim in a judicial forum it finds favorable for disputes with us or our directors, officers or employees. The enforceability of similar choice of forum provisions in other companies' certificates of incorporation has been challenged in legal proceedings and there is uncertainty as to whether a court would enforce such provisions, in particular with respect to causes of action arising under the Securities Act. In addition, investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. It is possible that, in connection with any applicable action brought against us, a court could find the choice of forum provisions contained in our amended and restated certificate of incorporation to be inapplicable or unenforceable in such action. If so, we may incur additional costs associated with resolving such action in other jurisdictions, which could adversely affect our business, financial condition or results of operations.

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 ***After the expiration of the lock-up period, there may be sales of a substantial amount of our common stock by our current stockholders and these sales could cause the price of our common stock to decline.***

Cummins and our executive officers and directors will enter into lock-up agreements with the underwriters under which they will agree, subject to specific exceptions, not to sell, directly or indirectly, any shares of common stock without the consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC for a period of 180 days following the date of this prospectus. We refer to such period as the "lock-up period". When the lock-up period expires, we and our stockholders subject to a lock-up agreement will be able to sell shares of our common stock in the public market. In addition, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC may release all or some portion of the shares subject to lock-up agreements at any time and for any reason. See "*Shares Eligible for Future Sale*." Sales of a substantial number of such shares upon expiration of the lock-up agreements, the perception that such sales may occur, or early release of these agreements, could cause our market price to decline or make it more difficult for you to sell your common stock at a time and price that you deem appropriate.

 ***An active trading market for our common stock may not develop and you may not be able to sell your common stock at or above the initial public offering price.***

Prior to the completion of this offering, there has been no public market for our common stock. An active trading market for shares of our common stock may never develop or be sustained following this offering. If an active trading market does not develop, you may have difficulty selling your shares of common stock at an attractive price, or at all. The price for our common stock in this offering will be determined by negotiations among Cummins, us and the representatives of the underwriters and it may not be indicative of prices that will prevail in the open market following this offering. An inactive market may also impair our ability to raise capital by selling our common stock and it may impair our ability to attract and motivate our employees through equity incentive awards and our ability to acquire other companies, products or technologies by using our common stock as consideration.

#### The price of our common stock may fluctuate substantially.
You should consider an investment in our common stock to be risky and you should invest in our common stock only if you can withstand a significant loss and wide fluctuations in the market value of your investment. Some factors that may cause the market price of our common stock to fluctuate, in addition to the other risks mentioned in this section of the prospectus, are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • our announcements or our competitors' announcements regarding new products, enhancements, significant contracts, acquisitions or strategic investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • changes in earnings estimates or recommendations by securities analysts, if any, who cover our common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • failure to meet external expectations or management guidance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • fluctuations in our quarterly financial results or the quarterly financial results of companies perceived to be similar to us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • changes in our capital structure or dividend policy, including as a result of the distribution, future issuances of securities, sales of large blocks of common stock by our shareholders, including Cummins, or our incurrence of additional debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • reputational issues;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • changes in general economic and market conditions in or any of the regions in which we conduct our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • changes in industry conditions or perceptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • changes in applicable laws, rules or regulations and other dynamics; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • announcements or actions taken by Cummins as our principal shareholder.

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In addition, if the market for stocks in our industry or related industries, or the stock market in general, experiences a loss of investor confidence, the trading price of our common stock could significantly decline for reasons unrelated to our business, financial condition or results of operations. If any of the foregoing occurs, it could cause our stock price to fall and may expose us to lawsuits that, even if unsuccessful, could be costly to defend and a distraction to management and could also require us to make substantial payments to satisfy judgments or settle litigation.

#### You will incur immediate dilution as a result of this offering.
The initial public offering price per share of our common stock will be substantially higher than our pro forma net tangible book value per share immediately after this offering. As a result, you will pay a price per share of common stock that substantially exceeds the per share book value of our tangible assets after subtracting our liabilities. Assuming an offering price of $ per share of our common stock, which is the midpoint of the range on the cover page of this prospectus, you will incur immediate and substantial dilution in an amount of $ per share of common stock. See "*Dilution*".

 ***Our historical combined financial statements are not necessarily representative of the results we would have achieved as a standalone company and may not be a reliable indicator of our future results.***

Our historical combined financial statements included in this prospectus do not reflect the financial condition, results of operations or cash flows we would have achieved as a standalone company during the periods presented or those we will achieve in the future. This is primarily the result of the following factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • our historical combined financial statements do not reflect the separation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • our historical combined financial statements reflect expense allocations for certain support functions that are provided on a centralized basis within Cummins, such as expenses for executive oversight, treasury, legal, finance, human resources, tax, internal audit, financial reporting, information technology and investor relations that may be higher or lower than the comparable expenses we would have actually incurred, or will incur in the future, as a standalone company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • our cost of debt and our capital structure will be different from that reflected in our historical combined financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • significant increases may occur in our cost structure as a result of this offering, including costs related to public company reporting, investor relations and compliance with the Sarbanes-Oxley Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • this offering may have a material effect on our customers and other business relationships, including supplier relationships, and may result in the loss of preferred pricing available by virtue of our reduced relationship with Cummins.

Our financial condition and future results of operations, after giving effect to the separation, will be materially different from amounts reflected in our historical combined financial statements included elsewhere in this prospectus. As a result of the separation, it may be difficult for investors to compare our future results to historical results or to evaluate our relative performance or trends in our business.

 ***The pro forma and non-GAAP financial measures included in this prospectus are presented for informational purposes only and may not be an indication of our financial condition or results of operations in the future.***

The unaudited pro forma combined financial statements included in this prospectus are presented for informational purposes only and are not necessarily indicative of what our actual financial condition or results of operations would have been had the transactions been completed on the date indicated. The assumptions used in preparing the pro forma financial information may not prove to be accurate and other factors may affect our financial condition or results of operations. Accordingly, our financial condition and results of operations in the future may not be consistent with, or evident from, such pro forma

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financial information. The non-GAAP financial measures included in this prospectus, consisting of EBITDA. EBITDA margin and Adjusted EBITDA, include information that we use to evaluate our past performance, but you should not consider such information in isolation or as an alternative to measures of our performance determined under U.S. GAAP. For further information regarding such limitations, see "*Prospectus Summary — Summary Historical and Unaudited Pro Forma Combined Financial Data*."

 ***As a standalone public company, we may expend additional time and resources to comply with rules and regulations that do not currently apply to us, and failure to comply with such rules may lead investors to lose confidence in our financial data.***

As a standalone public company, we will be subject to the reporting requirements of the Exchange Act, the Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act and regulations of the NYSE. We have established all of the procedures and practices required as a subsidiary of Cummins, but we must implement others as a separate, standalone public company. Establishing such procedures and practices will increase our legal, accounting and financial compliance costs, will make some activities more difficult, time-consuming and costly and could be burdensome on our personnel, systems and resources. We will devote significant resources to address these public company requirements, including compliance programs and investor relations, as well as our financial reporting obligations. As a result, we have and will continue to incur significant legal, accounting and other expenses that we did not previously incur to comply with these rules and regulations. Furthermore, the need to establish the corporate infrastructure necessary for a standalone public company may divert some of management's attention from operating our business and implementing our strategy. However, the measures we take may not be sufficient to satisfy our obligations as a public company. In addition, we cannot predict or estimate the amount of additional costs we may incur in order to comply with these requirements.

We have made, and will continue to make, changes to our internal control and procedures for financial reporting and accounting systems to meet our reporting obligations. In particular, as a public company, our management will be required to conduct an annual evaluation of our internal control over financial reporting and include a report of management on our internal control in our annual reports on Form 10-K. Under current rules, we will be subject to these requirements beginning with our annual report on Form 10-K for the year ending December 31, 2024. In addition, we will be required to have our independent registered public accounting firm attest to the effectiveness of our internal control over financial reporting pursuant to Auditing Standard No. 5 beginning with our annual report on Form 10-K for the year ending December 31, 2024. If we are unable to conclude that we have effective internal control over financial reporting, or if our registered public accounting firm is unable to provide us with an attestation and an unqualified report as to the effectiveness of our internal control over financial reporting, investors could lose confidence in the reliability of our financial statements, which could result in a decrease in the value of our common stock.

 ***If Cummins sells a controlling interest in our company to a third party in a private transaction, you may not realize any change-of-control premium on shares of our common stock and we may become subject to the control of a presently unknown third party.***

Following the completion of this offering, Cummins will continue to own approximately % of our outstanding common stock (or % if the underwriters exercise their option to purchase additional shares in full). Subject to the provisions of the lock-up agreement to be entered into in connection with this offering, Cummins will not be restricted from selling some or all of its shares of our common stock in a privately negotiated transaction or otherwise, and a sale of its shares, if sufficient in size, could result in a change of control of our company.

The ability of Cummins to privately sell its shares of our common stock, with no requirement for a concurrent offer to be made to acquire all of the shares of our common stock held by our other stockholders, could prevent you from realizing any change-of-control premium on your shares of our common stock that may otherwise accrue to Cummins on its private sale of our common stock. Additionally, if Cummins privately sells its controlling equity interest in our company, we may become subject to the control of a presently unknown third party. Such third party may have conflicts of interest

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with those of other stockholders. In addition, if Cummins sells a controlling interest in our company to a third party, our indebtedness may be subject to acceleration, and our other commercial agreements and relationships, including any remaining agreements with Cummins, could be impacted, all of which may adversely affect our ability to run our business as described herein and may have a material adverse effect on our business, financial condition or results of operations.

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#### CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus contains forward-looking statements, including, without limitation, those that are based on current expectations, estimates and projections about the industries in which we operate and management's beliefs and assumptions. Forward-looking statements are generally accompanied by words such as "anticipates," "expects," "forecasts," "intends," "plans," "believes," "seeks," "estimates," "could," "should," "may" or words of similar meaning. Examples of forward-looking statements include, but are not limited to, statements we make regarding the outlook for our future business and financial performance, such as those contained in "*Management's Discussion and Analysis of Financial Condition and Results of Operations*." These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which we refer to as "future factors," which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some future factors that could cause our results to differ materially from the results discussed in such forward-looking statements are discussed below and stockholders, potential investors and other readers are urged to consider these future factors carefully in evaluating forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.

See "*Risk Factors*" for a description of the factors that could impact the outcome of our forward-looking statements. Although we have attempted to identify important risk factors, there may be other risk factors not presently known to us or that we presently believe are not material that could cause actual results and developments to differ materially from those made in or suggested by the forward-looking statements contained in this prospectus. If any of these risks materialize, or if any of the above assumptions underlying forward-looking statements prove incorrect, actual results and developments may differ materially from those made in or suggested by the forward-looking statements contained in this prospectus. For the reasons described above, we caution you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements that are included elsewhere in this prospectus. Any forward-looking statement made by us in this prospectus speaks only as of the date thereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should be viewed as historical data.

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#### USE OF PROCEEDS
 *We will not receive any proceeds from the sale of our common stock in this offering. All of the net proceeds from this offering will be received by the debt-for-equity exchange parties. Immediately prior to the settlement of the debt-for-equity exchange parties' sale of the shares to the underwriters, the debt-for-equity exchange parties will acquire the common stock being sold in this offering from Cummins in exchange for outstanding Cummins indebtedness held by the debt-for-equity exchange parties. See "Summary — The Underwriting and the Debt-for-Equity Exchange," "Underwriting (Conflicts of Interest) — The debt-for-equity exchange" and "Underwriting (Conflicts of Interest) — Conflicts of interest."* 

As part of the separation and upon the completion of this offering, we intend to pay to Cummins, as partial consideration for the filtration business that Cummins is contributing to us in connection with the separation, the amount of existing cash, plus the net proceeds of the term loan that we will enter into prior to the closing of this offering, plus any amounts drawn under the revolving credit facility, less an amount of cash to be retained by us in an amount to be determined by Cummins. The determination of the amount of cash to be retained by us upon the completion of this offering will be made by Cummins in good faith and will be final and binding on us. See "*Description of Material Indebtedness*."

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#### DIVIDEND POLICY
We have not yet determined the extent to which we will pay any dividends on our common stock after completion of this offering. The payment of any dividends in the future, and the timing and amount thereof, is within the discretion of the Board in accordance with applicable law. The Board's decisions regarding the payment of dividends will depend on many factors, such as our financial condition, earnings, capital requirements, debt service obligations, restrictive covenants in our debt that we will enter into prior to the closing of this offering and in the future, industry practice, legal requirements and other factors that our Board deems relevant. Our ability to pay dividends will depend on our ongoing ability to generate cash from operations and on our access to the capital markets. We cannot guarantee that we will pay a dividend in the future or continue to pay any dividends if we commence paying dividends.

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#### CAPITALIZATION
The following table sets forth our cash and cash equivalents and our capitalization as of December 31, 2022:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • on an actual basis; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • on an unaudited pro forma basis to give effect to (i) the separation and (ii) the debt financing and the application of the net proceeds from the term loan as described under "*Prospectus Summary — Debt Transactions*" plus any amounts drawn under the revolving credit facility.

As the net proceeds of this offering are received by the debt-for-equity exchange parties, this offering has no impact on our capitalization.

The information below is not necessarily indicative of what our cash and cash equivalents and capitalization would have been had the separation been completed as of December 31, 2022. In addition, it is not indicative of our future cash and cash equivalents and capitalization. This table should be read in conjunction with "*Unaudited Pro Forma Combined Financial Information*," "*Use of Proceeds*," "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and our historical combined financial statements and notes thereto included elsewhere in this prospectus.

---

| | | |
|:---|:---|:---|
| | December 31, 2022  | December 31, 2022  |
| (amounts in millions, except per share data)  | Actual  | Pro Forma  |
| Cash and cash equivalents  | $— | $|
| Debt<sup>(</sup><sup>1</sup><sup>)</sup>: |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan  | $— | $|
| &nbsp;&nbsp;&nbsp; Revolving Credit Facility  |  |  |
| &nbsp;&nbsp;&nbsp; Total debt  | $— | $|
| Equity: |  |  |
| &nbsp;&nbsp;&nbsp; Net parent investment  | $505.3 |  |
| &nbsp;&nbsp;&nbsp; Common stock, par value $0.0001 per share, 2,000,000,000 shares authorized and 0 shares issued and outstanding on a historical basis; shares issued and outstanding on a pro forma basis  |  |  |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital  |  |  |
| &nbsp;&nbsp;&nbsp; Accumulated other comprehensive income (loss)  | (55.8) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total net parent investment/Total equity  | $449.5 |  |
| Total capitalization  | $449.5 | $|

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(1) We expect to have $ available in undrawn capacity under our revolving credit facility following the separation, debt financing and this offering. For a description of the term loan and revolving credit facility, see "*Description of Material Indebtedness*."

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#### DILUTION
If you invest in our common stock, your interest will be diluted to the extent of the difference between the initial public offering price per share of common stock and the pro forma net tangible book value per share of our common stock after giving effect to the separation. Net tangible book value per share represents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • total assets less goodwill and other intangible assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • reduced by our total liabilities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • divided by the number of shares of our common stock outstanding.

Dilution per share represents the difference between the amount per share paid by purchasers of our common stock in this offering and the pro forma net tangible book value per share after giving effect to the separation. As of December 31, 2022, after giving effect to the separation, our pro forma net tangible book value was approximately $, or $ per share based on shares of our common stock outstanding as of immediately prior to this offering. This represents an immediate dilution of $ per share to investors purchasing shares of our common stock in this offering. The following table illustrates this dilution per share assuming an initial public offering price per share at the midpoint of the price range on the cover of this prospectus.

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| | |
|:---|:---|
| Assumed initial public offering price per share of common stock  | $|
| Pro forma net tangible book value per share after giving effect to the separation |  |
| Decrease in pro forma net tangible book value per share attributable to new investors |  |
|  Pro forma net tangible book value per share after giving effect to the separation and this offering  |  |
| Dilution per share of common stock to new investors in this offering  | $|

---

The following table summarizes, on a pro forma basis as of December 31, 2022, after giving effect to this offering, the difference between our existing stockholder and new investors with respect to the number of shares of common stock purchased, the total consideration paid, or to be paid, and the average price per share paid by our existing stockholder or to be paid by new investors purchasing shares in this offering, at the assumed initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus, before deducting the estimated underwriting discounts and commissions:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Shares Purchased  | Shares Purchased  | Total Consideration  | Total Consideration  | Average <br> Price <br> Per Share  |
| | Number  | Percent  | Amount  | Percent  | Average <br> Price <br> Per Share  |
|  | | | (in millions)  | | |
| Existing stockholder<sup>(1)</sup>  |  | % | $— | &nbsp;&nbsp;&nbsp;&nbsp;% | $|
| New investors |  |  |  |  |  |
| Total  |  | 100.0% | $100.0 | &nbsp;&nbsp;&nbsp;&nbsp;% | $|

---

(1) Total consideration represents the pro forma book value of the net assets being contributed to us by Cummins in connection with the separation.

If the underwriters exercise in full their option to purchase additional shares of our common stock, the pro forma net tangible book value per share of our common stock, after giving effect to this offering, would be $ per share, and the dilution in pro forma net tangible book value per share to new investors purchasing shares of common stock in this offering would be $ per share.

The above discussion and tables are based on an assumed number of shares of our common stock outstanding immediately following this offering. In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of such securities could result in further dilution to our stockholders.

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#### UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION
The unaudited pro forma combined financial information has been prepared in accordance with Article 11 of Regulation S-X and has been derived from our historical combined financial statements included in this prospectus. While the historical combined financial statements reflect the past financial results of the combined businesses operating within Cummins' filtration division prior to the separation, the unaudited pro forma combined financial information gives effect to the separation of that business into an independent, publicly traded company.

Specifically, the pro forma adjustments to reflect the separation, distribution and related transactions from and with Cummins include autonomous entity adjustments and transaction accounting adjustments. Management adjustments are included in the footnotes to the pro forma financial information.

The pro forma adjustments, as described below, are based on the available information and assumptions our management believes are reasonable; however, such adjustments are subject to change as the costs of operating as a standalone company are determined. In addition, such adjustments are estimates and may not prove to be accurate. The unaudited pro forma combined financial information includes certain adjustments to give effect to events that are directly attributable to the separation, distribution and related transactions.

The unaudited pro forma combined statement of net income for the year ended December 31, 2022 presents the pro forma effect of the separation and the related adjustments described below as if they had been completed on January 1, 2022. The unaudited pro forma combined balance sheet as of December 31, 2022 presents the pro forma effect of the separation and related adjustments described below as if they had occurred on that date. The unaudited pro forma combined statement of net income does not purport to represent, and is not necessarily indicative of, what the actual results of operations of Atmus would have been had the transaction taken place on January 1, 2022, nor is it indicative of the results of operations of Atmus for any future period. The unaudited pro forma combined balance sheet does not purport to represent, and is not necessarily indicative of, what the actual financial condition of Atmus would have been had the transactions taken place on December 31, 2022, nor is it indicative of the financial condition of Atmus as of any future date.

In addition, for the periods presented in the unaudited pro forma combined financial information, the operations of Atmus were conducted and accounted for as part of Cummins. The historical combined financial statements and unaudited pro forma combined financial information of Atmus have been derived from Cummins' historical accounting record and reflect certain allocations of expenses. All of the allocations and estimates in such financial statements are based on assumptions that management believes are reasonable.

#### Autonomous Entity Adjustments
As a standalone public company, we expect to incur incremental recurring costs that could be materially different from the allocations of Cummins costs included within the historical combined financial statements. We expect to incur recurring costs associated with being a standalone public company in the following areas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • costs to perform financial reporting and regulatory compliance and costs associated with accounting, auditing, tax, legal, information technology, human resources, investor relations, risk management, treasury and other general and administrative related functions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • compensation including equity-based awards, and benefits with respect to new and existing positions, including the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • insurance premiums for items such as property insurance and directors and officers insurance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • license fees and other expenses related to information technology investments; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • depreciation and amortization related to information technology infrastructure investments.

Certain of the above costs — specifically accounting activities, financial reporting activities, some legal services, some human resource functions, the use of Cummins' established information technology

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systems, and other general and administrative related functions are covered by the transition services agreement ("TSA") for a period of time. Other costs, such as our own board of directors, company specific compensation and insurance plans, and certain information technology systems, are not covered by the TSA. We are in the process of establishing all of these functions on a standalone basis.

We have made autonomous entity adjustments to reflect:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the estimated difference between the Corporate Allocation included in the historical financial statements and the expected costs of the TSA with Cummins that will be in place at the time of the separation, for the same activities (refer to Note 1(a) below), as well as the costs that have been formally agreed to, as of the date of this filing (refer to Note 1(b) below). Actual costs and expenses could be materially different from the TSA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • pro forma adjustments are not being made for agreements, other than the TSA, which will govern certain aspects of our relationship with Cummins following the separation, as described under "*The Separation and Distribution Transactions*" and "*Certain Relationships and Related Party Transactions*" included elsewhere in this prospectus. These agreements detail how matters will be separated and addressed on a prospective basis but generally do not have operational impacts different than historical practices.

#### Transaction Accounting Adjustments
We currently expect we will acquire certain assets and assume liabilities and related expenses associated with the separation and in becoming a standalone public company. We have made pro forma adjustments for these items which have been formally agreed to, and such adjustments are included in the transaction accounting adjustments. Actual costs and expenses could differ from this estimate. These adjustments primarily relate to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the transfer from Cummins to Atmus of the assets and liabilities that will comprise Atmus's business going forward;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • agreed to non-recurring costs to establish certain information technology systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the issuance of approximately million shares of Atmus common stock with estimated net proceeds of $ million based on an assumed initial public offering price of $ per share (the midpoint of the estimated public offering price range set forth on the cover page of this prospectus), after deducting the underwriting discounts and commissions and estimated offering expenses payable by us; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • total cash liquidity of approximately $ million, which includes a net cash amount of $ million (as described below) and approximately $ expected to be available in undrawn capacity under our revolving credit facility. This net cash amount of $ million will be retained after we pay to Cummins upon the completion of this offering, as partial consideration for the filtration business that Cummins is contributing to us in connection with the separation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the amount of existing cash; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the net proceeds from the term loan that we will enter into prior to the closing of this offering plus any amounts drawn under the revolving credit facility; less

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • an amount of cash to be retained by us in an amount to be determined by Cummins.

The net cash retained by Atmus will be an amount determined by Cummins and is viewed as a capital contribution from Cummins that will be used for ongoing working capital requirements and capital expenditures and takes into account Atmus's on-going investments in joint ventures.

See Note 2 below.

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#### Management Adjustments
Management adjustments reflect one-time expenses associated with becoming a standalone public company expected to be incurred over the next twelve to eighteen months after the separation, as well as costs that management expects to incur, on a recurring basis, to operate as a standalone public company. These costs have not been formally committed to at this time and represent management's best estimate.

Estimated costs reflected below fall into the following categories:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • personnel costs to fill positions needed to operate as a standalone public company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • costs to separate information technology systems and related application licensing costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • insurance premiums for items such as property insurance and directors and officers insurance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • benefit plan adjustments to reflect moving to defined contribution plans where possible;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • dis-synergy for losing access to Cummins' warehousing facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • dis-synergy in purchasing contracts losing Cummins' economies of scale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • facility separation and relocation costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • accounting, tax and other professional services costs pertaining to the separation and our establishment as a standalone public company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • legal and other fees associated with transitioning contracts.

Estimated dis-synergies we anticipate incurring as a standalone company could be materially different from our estimate.

To estimate these costs we have utilized benchmark data, quotes for the work to be performed, and if quotes were not available, management used estimated costs based on the best information that they had available to them (e.g., industry benchmarks, past similar work, and discussions through trade organizations).

See Note 3 below.

The unaudited pro forma combined financial information should be read in conjunction with our historical combined financial statements and the accompanying notes in the "*Index to Combined Financial Statements*," "*Capitalization*" and "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" included elsewhere in this prospectus. The unaudited pro forma combined financial information constitutes forward-looking information and is subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. See "*Cautionary Note Regarding Forward-Looking Statements*" and "*Risk Factors*" included elsewhere in this prospectus.

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#### UNAUDITED PRO FORMA COMBINED STATEMENT OF NET INCOME FOR THE YEAR ENDED DECEMBER 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| In millions, except per share amounts  | &nbsp;&nbsp; Actual  | Autonomous <br> Entity <br> Adjustments  | Note  | Transaction <br> Accounting <br> Adjustments  | Pro Forma  |
| **NET SALES**  | $1562.1 |  |  |  | $1562.1 |
| &nbsp;&nbsp;&nbsp; Cost of sales  | 1203.2 | (2.5) | (a)  |  | 1200.7 |
| **GROSS MARGIN**  | 358.9 | 2.5 |  |  | 361.4 |
|  **OPERATING EXPENSES AND INCOME**  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Selling, general and administrative <br> expenses  | 139.7 | 5.8 | (a), (b)  | 9.0 (c)  | 154.5 |
| &nbsp;&nbsp;&nbsp; Research, development and engineering expenses  | 38.6 |  |  |  | 38.6 |
| &nbsp;&nbsp;&nbsp; Equity, royalty and interest income <br> from investees  | 28.0 |  |  |  | 28.0 |
| &nbsp;&nbsp;&nbsp; Other operating expenses, net  | 5.0 |  |  |  | 5.0 |
| **OPERATING INCOME**  | 203.6 | (3.3) |  | (9.0) | 191.3 |
| &nbsp;&nbsp;&nbsp; Interest expense  | 0.7 |  |  | 38.5 (d)  | 39.2 |
| &nbsp;&nbsp;&nbsp; Other income, net  | 8.8 |  |  |  | 8.8 |
| **INCOME BEFORE INCOME TAXES**  | 211.7 | (3.3) |  | (47.5) | 160.9 |
| &nbsp;&nbsp;&nbsp; Income tax expense  | 41.6 | 0.7 | (e)  | (9.4) (e)  | 32.9 |
| **NET INCOME**  | $170.1 | $(4.0) |  | $(38.1) | $128.0 |
| **EARNINGS PER COMMON SHARE**  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic and diluted  | n/a |  |  | (f)  |  |
| &nbsp;&nbsp;&nbsp; Weighted-average shares outstanding  | n/a |  |  | (f)  |  |

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#### UNAUDITED PRO FORMA COMBINED BALANCE SHEET AS OF DECEMBER 31, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Actual  | Autonomous <br> Entity <br> Adjustments  | Transaction <br> Accounting <br> Adjustments  | Pro Forma  |
| **ASSETS** |  |  |  |  |
| Current assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cash and cash equivalents  | $— |  | $110.0 (g)  | $110.0 |
| &nbsp;&nbsp;&nbsp; Accounts and notes receivables, net  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trade and other  | 174.2 |  |  | 174.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Related party receivables  | 67.0 |  |  | 67.0 |
| &nbsp;&nbsp;&nbsp; Inventories  | 251.8 |  |  | 251.8 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets  | 19.3 |  |  | 19.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets  | 512.3 |  | 110.0 | 622.3 |
| Long-term assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Property, plant and equipment, net  | 148.4 |  |  | 148.4 |
| &nbsp;&nbsp;&nbsp; Investments and advances related to equity method investees  | 77.0 |  |  | 77.0 |
| &nbsp;&nbsp;&nbsp; Goodwill  | 84.7 |  |  | 84.7 |
| &nbsp;&nbsp;&nbsp; Other assets  | 57.0 |  |  | 57.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets  | $879.4 | $— | $110.0 | $989.4 |
| **LIABILITIES** |  |  |  |  |
| Current liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Accounts payable (principally trade)  | $145.9 |  |  | $145.9 |
| &nbsp;&nbsp;&nbsp; Related party payables  | 100.1 |  |  | 100.1 |
| &nbsp;&nbsp;&nbsp; Accrued compensation, benefits and retirement costs  | 18.2 |  |  | 18.2 |
| &nbsp;&nbsp;&nbsp; Current portion of accrued product warranty  | 5.9 |  |  | 5.9 |
| &nbsp;&nbsp;&nbsp; Other accrued expenses  | 79.0 |  |  | 79.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities  | 349.1 |  |  | 349.1 |
| Long-term liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Long-term debt  |  |  | 650.0 (h)  | 650.0 |
| &nbsp;&nbsp;&nbsp; Pensions and other postretirement benefits  |  |  | 1.7 (i)  | 1.7 |
| &nbsp;&nbsp;&nbsp; Accrued product warranty  | 9.6 |  |  | 9.6 |
| &nbsp;&nbsp;&nbsp; Other liabilities  | 71.2 |  |  | 71.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities  | $429.9 | $— | $651.7 | $1081.6 |
| **NET PARENT INVESTMENT** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common stock (par value $0.0001)  | $— |  | $— (j)  | $— |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital  |  |  | (37.9) (j)  | (37.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net parent investment  | 505.3 |  | (505.3) (j)  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss  | (55.8) |  | 1.5 (j)  | (54.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total net parent investment  | 449.5 |  | (541.7) | (92.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and net parent investment  | $879.4 | $— | $110.0 | $989.4 |

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#### NOTES TO THE UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION

#### Note 1: Autonomous Entity Adjustments
Adjustments included in the column under the heading "Autonomous Entity Adjustments" represent the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)

The unaudited pro forma combined financial statements have been adjusted to reflect Atmus as an autonomous entity. In connection with the separation, Atmus will enter into a TSA. Pursuant to the TSA, for a period of time after the separation, generally ranging from six to twenty-four months, services will be provided to Atmus, as described above, for pre-determined rates. A favorable adjustment of $12.9 million (of which $2.5 million is included in cost of sales and $10.4 million is included in selling, general, and administrative expenses) has been made to the unaudited pro forma combined statements of net income for the year ended December 31, 2022, to reflect the difference between specific costs expected to be incurred under the TSA and the corporate allocation from Cummins, related to similar services, that is included in the historical financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)

Atmus has also formally agreed to additional costs that are required to operate as a standalone public company. At the time of this filing, these formally agreed to costs of approximately $16.2 million are included in selling, general and administrative expenses, and are associated with internal and external audit, tax services, the board of directors and executive leadership compensation adjustments, some of which are outlined in the section entitled "*Executive and Director Compensation*".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e)

Reflects the tax effects of the pro forma adjustments at the applicable statutory income tax rates in the respective jurisdictions. The effective tax rate of Atmus could be different (either higher or lower) depending on activities subsequent to the distribution.

#### Note 2: Transaction Accounting Adjustments
Adjustments included in the column under the heading "Transaction Accounting Adjustments" represent the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)

Atmus has also formally agreed to additional, non-recurring costs that are required to operate as a standalone public company. At the time of this filing, these formally agreed to costs are included in selling, general and administrative expenses, and are associated with consulting fees in conjunction with the implementation of some information technology systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d)

An adjustment to interest expense has been reflected within the unaudited pro forma combined statements of net income, assuming the new debt had been raised as of January 1, 2022. Interest is calculated as the Secured Overnight Financing Rate (SOFR) + a Credit Spread Adjustment plus 1.25%. A 0.125% change in SOFR would have a $0.8 million annual impact on interest expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e)

Reflects the tax effects of the pro forma adjustments at the applicable statutory income tax rates in the respective jurisdictions. The effective tax rate of Atmus could be different (either higher or lower) depending on activities subsequent to the distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f)

The issuance of approximately million shares of Atmus common stock (as initially estimated);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (g)

The net cash retained from the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a.

the amount of existing cash, plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; b.

the net proceeds from the term loan that we will enter into prior to the closing of this offering plus any amounts drawn under the revolving credit facility, less

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; c.

an amount of cash to be retained by us in an amount to be determined by Cummins.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (h)

The entry by Atmus into the term loan and the revolver, net of borrowing costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)

In connection with the separation, a portion of certain defined benefit pension plan obligations in Mexico will be transferred to Atmus. The Cummins plans were accounted for on a multiemployer basis in Atmus's historical combined financial statements. Accordingly, no pension assets or liabilities were recorded in Atmus's historical combined balance sheet to recognize the funded status of these plans. However, benefit expenses related to these plans attributable to Atmus's business, as applicable, were recorded in Atmus's historical combined statements of net income.

The pro forma adjustment in the unaudited pro forma combined balance sheet as of December 31, 2022 reflects the underfunded status of the defined benefit plan obligations that are expected to be assumed by Atmus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (j)

On the distribution date, Cummins' net investment in Atmus will be re-designated as Atmus Shareholders' Equity and will be allocated between shares of Atmus common stock (par value of $0.0001 per share) and additional paid in capital based on the number of shares of Atmus common stock outstanding at the distribution date. The adjustments to additional paid-in capital resulting from the pro forma adjustments are calculated as follows (in millions):

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| | |
|:---|:---|
| Net cash retained, see note (g)  | $110.0 |
| Reclassification of Cummins net parent investment to additional paid in capital  | $502.1 |
| Distribution of net proceeds from the term loan and the revolving credit facility to Parent  |  |
| Portion of shareholders' equity from stock issuance over par value, see note (f)  |  |
| **Additional paid-in capital**  | $— |

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#### Note 3: Management Adjustments
Management adjustments reflect one-time expenses associated with becoming a standalone public company, expected to be incurred over the next twelve to eighteen months after the separation, as well as costs that management expects to incur, on a recurring basis, to operate as a standalone public company, and dis-synergies that management anticipates as they separate from Cummins. These costs have not been formally committed to at this time and represent management's best estimate.

Estimated costs reflected below fall into the following categories:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • personnel costs to fill positions needed to operate as a standalone public company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • costs to separate information technology systems and related application licensing costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • insurance premiums for items such as property insurance and directors and officers insurance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • benefit plan adjustments to reflect moving to defined contribution plans where possible;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • dis-synergy for losing access to Cummins' warehousing facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • dis-synergy in purchasing contracts losing the Cummins' economies of scale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • facility separation and relocation costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • accounting, tax and other professional services costs pertaining to the separation and our establishment as a standalone public company; and,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • legal and other fees associated with transitioning contracts.

We have begun hiring new employees, but this process is continuing. Further, the work on the other costs is just beginning. To estimate the cost associated with new employees, we utilized both recently incurred costs to hire employees in similar roles and benchmark data. To estimate the cost associated with the other activities, we have obtained quotes for the work to be performed, and if quotes were not available, management used estimated costs based on the best information they had available to them (e.g., industry benchmarks, prior similar work, and discussions through trade organizations).

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#### UNAUDITED PRO FORMA NET INCOME FOR THE YEAR ENDED DECEMBER 31, 2022

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| | | | |
|:---|:---|:---|:---|
| In millions, except per share amounts  | Net income  | Basic and diluted <br> Earnings per share  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weighted Average <br> shares  |
| Pro forma combined  | $128.0 |  | $&nbsp;&nbsp;&nbsp;&nbsp;— |
| Management's adjustments |  |  |  |
| &nbsp;&nbsp;&nbsp; Total costs  | (29.3) |  |  |
| &nbsp;&nbsp;&nbsp; Tax effect  | 5.8 |  |  |
|  Pro forma combined after management's adjustments  | $104.5 |  | $— |

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#### THE SEPARATION AND DISTRIBUTION TRANSACTIONS

#### The Separation
Prior to the completion of this offering, we will enter into a separation agreement with Cummins. The separation agreement will set forth our agreements with Cummins regarding the principal actions to be taken in connection with the separation. It will also set forth other agreements that govern certain aspects of our relationship with Cummins following the separation.

The following are the principal steps of the separation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Cummins formed FILT Red, Inc. on April 1, 2022. On December 5, 2022, we filed a Certificate of Amendment with the Delaware Secretary of State to change our name from ''FILT Red, Inc.'' to ''Atmus Filtration Technologies Inc.''

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Pursuant to the separation agreement, Cummins will transfer to us substantially all of the assets and liabilities comprising its filtration business that will form our business going forward. In exchange for the assets to be transferred to us, we will, as consideration, issue to Cummins newly issued, fully paid and nonassessable shares of our common stock and pay Cummins upon the completion of this offering, as partial consideration for the filtration business that Cummins is contributing to us in connection with the separation, the amount of existing cash, plus the net proceeds of the term loan that we will enter into prior to the closing of this offering, plus any amounts drawn under the revolving credit facility, less an amount of cash to be retained by us in an amount to be determined by Cummins. The determination of the amount of cash to be retained by us upon the completion of this offering will be made by Cummins in good faith and will be final and binding on us. See "*Description of Material Indebtedness*".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins will enter into a transition services agreement that will be effective upon the separation and this offering, pursuant to which Cummins and its subsidiaries and we and our subsidiaries will provide to each other various services, which will include a sub-agreement between our respective subsidiaries in Mexico to provide *maquiladora* related services to our subsidiary in Mexico.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins will enter into a tax matters agreement that will govern the parties' respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins will enter into an employee matters agreement that will govern our and Cummins' compensation and employee benefit obligations with respect to the employees and other service providers of each company and generally will allocate liabilities and responsibilities relating to employment matters and employee compensation and benefit plans and programs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins will enter into an intellectual property license agreement that will enable cross-licensing of intellectual property owned by Cummins and us.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins will enter into a transitional trademark license agreement pursuant to which Cummins will grant to us a personal, non-exclusive, non-sublicensable (except in certain circumstances), non-assignable, royalty-free, fully paid-up license to use certain licensed trademarks for an initial period of 36 months after the date on which Cummins ceases to beneficially own a majority, in the aggregate, of the total voting power of our capital stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins will enter into a registration rights agreement pursuant to which we will grant Cummins and its affiliates certain registration rights with respect to our common stock owned by them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins will enter into a mutually agreed upon non-compete agreement, consistent with historical practices, that will limit Cummins and its wholly-owned and controlled affiliates from designing, developing, manufacturing or selling competing products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins expect to enter into a royalty sharing agreement at the time of separation and this offering that will provide that Cummins will pay Atmus a portion of royalty amounts due

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to Cummins pursuant to an existing trademark license and endorsement agreement with a third-party, under which Atmus has certain rights relating to trademarks licensed by Cummins, until the earlier of December 31, 2024 or termination of the trademark license and endorsement agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • We and Cummins expect to enter into a data sharing agreement prior to the separation, pursuant to which the parties will share certain telematics and other proprietary and non-proprietary data in order to evaluate the performance of the engine and filtration system associated with Cummins' products, including engines and gensets.

In addition, immediately prior to the completion of this offering, we and Cummins have entered, or intend to enter, into, certain agreements that will provide a framework for our ongoing relationship with Cummins. For a description of these agreements, see "*Certain Relationships and Related Party Transactions — Relationship with Cummins*." We intend to pay to Cummins upon the completion of this offering, as partial consideration for the filtration business that Cummins is contributing to us in connection with the separation, the amount of existing cash, plus the net proceeds of the term loan that we will enter into prior to the closing of this offering, plus any amounts drawn under the revolving credit facility, less an amount of cash to be retained by us in an amount to be determined by Cummins. The determination of the amount of cash to be retained by us upon the completion of this offering will be made by Cummins in good faith and will be final and binding on us. See "*Description of Material Indebtedness*."

We believe, and Cummins has advised us that it believes, that the separation, this offering and the distribution will provide a number of benefits to our business and to Cummins' business. These intended benefits include improving the strategic and operational flexibility of both companies, enhancing the focus of the management teams on their respective business operations, allowing each company to tailor the capital structure and investment policy best suited to its financial profile and business needs and providing each company with its own equity to better incentivize employees and facilitate acquisitions. In addition, as we will be a standalone company, potential investors will be able to invest directly in our business. There can be no assurance that we will achieve the expected benefits of the separation and the distribution in a timely manner or at all. See "*Risk Factors — Risks Related to the Separation and our Relationship with Cummins*."

#### The Distribution
Cummins has informed us that, following this offering, it intends to make a tax-free distribution to its stockholders of all or a portion of its remaining equity interest in us, which may include one or more distributions effected as a dividend to all Cummins stockholders, one or more distributions in exchange for Cummins shares or other securities, or any combination thereof. We refer to any such potential distribution as the "distribution."

While, as of the date of this prospectus, Cummins intends to effect the distribution, Cummins has no obligation to pursue or consummate any further dispositions of its ownership interest in us, including through the distribution, by any specified date or at all. If pursued, the distribution may be subject to various conditions, including receipt of any necessary regulatory or other approvals, the existence of satisfactory market conditions, the receipt of a private letter ruling from the IRS, which has been received, and an opinion of a nationally recognized law or accounting firm to the effect that the separation and the debt-for-equity exchange, together with such distribution, will qualify as a transaction that is tax-free to Cummins and its stockholders for U.S. federal income tax purposes. The conditions to the distribution may not be satisfied, Cummins may decide not to consummate the distribution even if the conditions are satisfied or Cummins may decide to waive one or more of these conditions and consummate the distribution even if all of the conditions are not satisfied. The distribution is not being effected pursuant to this prospectus and the underwriters of this offering are not acting as underwriters for the distribution.

#### Change in Control Considerations
Cummins will lose control of us as a result of the transactions to implement this offering, the separation, and the distribution, which will cause a change in control under the governing documents of our joint venture in India (FFPL), resulting in the loss of rights to board representation. This would effectively result in the loss of the ability to prevent certain significant actions and may result in a reduction or elimination of dividends. See "*Risk Factors — Risks Related to our Business Operations*."

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#### MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 *The discussion and analysis presented below refers to and should be read in conjunction with (i) the combined financial statements and the accompanying notes, and (ii) the unaudited pro forma combined financial information and the accompanying notes, each included elsewhere in this prospectus. To the extent that this discussion describes prior performance, the explanations only relate to the described periods, which may not be indicative of our future performance. This discussion and analysis contains forward-looking statements and the matters discussed in these forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those made, projected or implied in the forward-looking statements. Please see "Risk Factors" and "Cautionary Statement Concerning Forward-looking Statements" for a discussion of certain of the uncertainties, risks and assumptions associated with these statements.* 

The following is the discussion and analysis of changes in the financial condition and results of operations for year ended December 31, 2022 compared to the fiscal year ended December 31, 2021 and the fiscal year ended December 31, 2021 compared to the fiscal year ended December 31, 2020.

#### General Overview

#### Company Overview
Atmus is one of the global leaders of filtration products for on-highway commercial vehicles and off-highway agriculture, construction, mining and power generation vehicles and equipment. We design and manufacture advanced filtration products, principally under the Fleetguard brand, that enable lower emissions and provide superior asset protection. We estimate that approximately 16% of our net sales in 2022 were generated through first-fit sales to OEMs, where our products are installed as components for new vehicles and equipment, and approximately 84% were generated in the aftermarket, where our products are installed as replacement or repair parts, leading to a strong recurring revenue base. Building on our 60-year history, we continue to grow and differentiate ourselves through our global footprint, comprehensive offering of premium products, technology leadership and multi-channel path to market.

#### Basis of Presentation
The discussion below relates to the financial position and results of operations of a combination of entities under common control that have been "carved out" of Cummins' historical consolidated financial statements and accounting records. The preparation of the combined financial statements required considerable judgment of management of Cummins and Atmus and reflects significant assumptions and allocations that management of Cummins and Atmus believe are reasonable. The combined financial statements reflect our historical financial position, results of operations and cash flows, in conformity with U.S. GAAP. Refer to Note 2, "BASIS OF PRESENTATION", to the combined financial statements included elsewhere in this prospectus for additional information.

#### Separation and Distribution from Cummins Inc.
On August 3, 2021, Cummins publicly announced it was exploring strategic alternatives for its filtration business, including the potential separation of the filtration business from Cummins into a standalone company. We are conducting an initial public offering of our common stock. Prior to the closing of this offering, Cummins will transfer to us substantially all of the assets and liabilities comprising its filtration business that will form our business going forward.

Cummins has informed us that, following this offering, it intends to make a tax-free distribution to its stockholders of all or a portion of its remaining equity interest in us, which may include one or more distributions effected as a dividend to all Cummins stockholders, one or more distributions in exchange for Cummins shares or other securities, or any combination thereof. We refer to any such potential distribution as the "distribution".

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While, as of the date of this prospectus, Cummins intends to effect the distribution, Cummins has no obligation to pursue or consummate any further dispositions of its ownership interest in us, including through the distribution, by any specified date or at all. If pursued, the distribution may be subject to various conditions, including receipt of any necessary regulatory or other approvals, the existence of satisfactory market conditions and the receipt of a private letter ruling from the IRS and an opinion of a nationally recognized law or accounting firm to the effect that the separation, together with such distribution, will qualify as a transaction that is tax-free to Cummins and its stockholders for U.S. federal income tax purposes. The conditions to the distribution may not be satisfied; Cummins may decide not to consummate the distribution even if the conditions are satisfied; or Cummins may decide to waive one or more of these conditions and consummate the distribution even if all of the conditions are not satisfied. The distribution is not being effected pursuant to this prospectus, and the underwriters of this offering are not acting as underwriters for the distribution.

#### Change in Control Considerations
Transactions to implement this offering, the separation and the proposed subsequent distribution of Cummins' equity interest in us will constitute a change in control under our joint venture in India (FFPL), resulting in the potential loss of board representation. This would effectively result in the loss of the ability to prevent certain significant actions and may result in a reduction or elimination of dividends. See "*Risk Factors — Risks Related to our Business Operations*". Additionally, a significant reduction in the level of contribution by our joint venture in India (FFPL) to our net income would likely have a material adverse effect on our business, financial condition or results of operations. See "*Equity, royalty and interest income from investees*" below.

#### Factors Affecting Our Performance
Our financial performance depends, in large part, on varying conditions in the markets we serve. Demand in these markets tends to fluctuate in response to overall economic conditions. Our revenues may also be impacted by OEM inventory levels, production schedules, commodity prices, stoppages and supply chain challenges. Economic downturns in markets we serve generally result in reduced sales of our products and can result in price reductions in certain products and/or markets. As a worldwide business, our operations are also affected by currency, political, economic, public health crises, epidemics or pandemics and regulatory matters, including adoption and enforcement of environmental and emission standards, in the countries we serve. Some of the more important factors are briefly discussed below.

#### Impact of the COVID-19 pandemic
The outbreak of the COVID-19 pandemic in early 2020, along with the response to the pandemic by governmental and other factors, disrupted our operations and may continue to negatively impact our operations in the future. The pandemic triggered a significant downturn in our markets globally and led to reduced demand for our products in 2020. Such negative impacts of the pandemic were partially offset by lower expenses due to temporary salary reductions and lower variable compensation for our employees in 2020. While the majority of the negative impacts to demand for our products largely subsided in 2021, we are still experiencing supply chain disruptions and the related financial impacts reflected as increased cost of sales. The surge in demand for component parts and raw materials across a number of industries has led to supply chain disruptions and global shortages in components and materials, as discussed in "— *Supply chain constraints"* below. During 2022, the resurgence of COVID-19 in China led to lockdowns in several cities, including Shanghai, that negatively impacted the economy and our end markets and manufacturing facilities. The results from our China operations were adversely impacted for the year ended December 31, 2022 as a result of the shutdowns. To the extent lockdowns continue to be used to combat COVID-19, we expect they would negatively impact the gradual recovery of the global supply chain. This may negatively impact both our net sales and profitability going forward. Given the unpredictable nature of COVID-19 and the response to it, we cannot predict the impact on future periods at this time.

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#### Market demand
Demand for our first-fit products remains strong across many of our markets driven by strong economic activity in on-highway markets due to increased demand for goods and services and in off-highway markets driven by increased construction and infrastructure spend. We have continued to increase prices as a result of significant increases in our cost base and to account for technology advancements in the products we provide our customers, which has contributed to higher net sales in 2021 and 2022.

#### Supply chain constraints
The COVID-19 pandemic triggered a significant downturn in our markets globally, which negatively impacted our sales and results of operations during 2020. While the negative impacts to demand largely subsided in 2021, we continued to experience supply chain disruptions in 2022, including longer lead times for materials used in manufacturing our products and increased commodity prices, and related financial impacts reflected as increased cost of sales. Throughout 2022, our industry continued to be unfavorably impacted by supply chain constraints leading to shortages across multiple components categories and limiting our collective ability to meet end-user demand. Our customers also experienced other supply chain issues and slowed production.

As we adjusted to the recovery from the COVID-19 pandemic and the rapid return of demand in many manufacturing industries in 2022, we continued to experience supply chain disruptions, incremental costs and related challenges throughout the supply chain. We continue to monitor the supply chain disruptions utilizing early detection monitoring complemented by structured supplier risk and resiliency assessments. We have increased the frequency of formal and informal supplier engagement to address potentially impactful supply base constraints and enhanced collaboration to develop specific countermeasures to mitigate risks. Our global team, located in different regions of the world, uses various approaches to identify and resolve threats to supply continuity. Should the supply chain issues continue for an extended period of time or worsen, the impact on our production and supply chain could have a material adverse effect on our results of operations, financial condition and cash flows. Our management team continues to monitor and evaluate all of these factors and the related impacts on our business and operations, and we are diligently working to minimize the supply chain impacts to our business and to our customers.

As a result of the recent supply chain constraints described above and an increased demand for our products by customers seeking to secure their supply, we experienced an increase in sales orders in 2021 compared to 2020, resulting in elevated backorders during 2022. When on backorder, an order is generally subject to cancellation on reasonable notice without cancellation charges, and therefore are not considered firm. We work closely with our customers to meet their demand and are working through our backorders as efficiently as possible. The backorder position continued to improve throughout 2022, and is expected to stabilize further in the first half of 2023.

#### Commodity prices, labor and inflation
The economic environment in 2022 resulted, and may continue to result, in material price increases and inflation of many of our raw material, supply chain, transportation and other costs. Material cost pressures are driven largely by steel, resin and other petrochemical products. Supply chain costs have been largely driven by freight, with additional labor and overhead impact. Collectively, these pressures have driven an increase in cost of sales. To mitigate these pressures we instituted pricing actions, which we expect should, over time, offset these cost increases. However, there is a lag between when we incur cost increases for material inputs to our product, and when we are able to realize the benefits of our price increases, leading to an adverse impact on profit margins. We continue to look for alternate competitive supply sources, adjust the materials we use and improve our design and production methods to minimize the impact from cost increases, but these alternate strategies may not be sufficient to overcome such adverse impact.

Further, the labor market for skilled manufacturing remains tight as the global economy recovers after the COVID-19 pandemic shutdowns, and our labor costs have increased as a result. Material,

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transportation, labor and other cost inflation impacted, and could continue to impact, our results of operations, financial condition and cash flows. Retaining talent is critical to the success of our company. We strive to ensure we have the right culture for all our employees, and that starts with caring and inclusiveness of all people across all backgrounds and regions. We strive to retain employees by offering competitive wages and benefits and opportunities for growth and development, as well as promoting a safe place to work.

#### Maintaining strong distribution relationships with our channel partners
We maintain strong distribution relationships with all of our channel partners, which include OEM dealers, independent distributors and retail outlets, including truck stops. The majority of our sales to first-fit, where filtration products are installed as components for new vehicles, are through OEMs with which we have strong relationships. Our relationships with OEMs also help drive our aftermarket business because they provide us with access to the dealer network of our OEM customers. In many markets the OEM dealers are the preferred source of service for the end-users. Replacement filters are sold through channels in the aftermarket, and typically shipped directly from our distribution centers to OEM dealers and channel partners which further enhances our direct connection with our broad customer and end-user base. End-users of our filters are able to acquire products through the various channels, usually preferring filters that meet or exceed OEM requirements. Our comprehensive distribution coverage is vital to maintaining our broad reach, global presence, and premium brand.

#### Maintaining strong relationships with our joint ventures
Maintaining strong relationships with our joint ventures is important for maintaining our global presence and achieving future growth initiatives. We have an established footprint and long-standing, successful relationships in developing and emerging markets, like China and India. The presence of joint ventures in China and India furthers our global reach and our ability to develop products for the local market.

#### Standalone costs
Following the separation, we expect to incur additional costs associated with becoming a standalone public company. During the second half of 2022, we incurred approximately $9 million of one-time expenses. We expect the run rate of the one time separation costs through the end of 2024 to be substantially higher than in 2022. The actual amount of the one-time expenses we will incur as a stand-alone public company and as part of our separation from Cummins may be higher, perhaps significantly, from our current estimates for a number of reasons, including, among others, the final terms we are able to negotiate with service providers, as well as additional costs we may incur that we have not currently anticipated. Additionally, the actual timing of when we incur these incremental expenses may be different, perhaps significantly, from our current estimates for a number of reasons, including, among others, unforeseen events that may cause delays or interruptions in our plans or our service providers' ability to provide their services. See "*Unaudited Pro Forma Combined Financial Information*" for a description of the incremental recurring costs and the one-time expenses we expect to incur.

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Results of Operations

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | Favorable/(Unfavorable)  | Favorable/(Unfavorable)  | Favorable/(Unfavorable)  | Favorable/(Unfavorable)  |
| | Years Ended December 31,  | Years Ended December 31,  | Years Ended December 31,  | 2022 vs 2021  | 2022 vs 2021  | 2021 vs 2020  | 2021 vs 2020  |
| In millions  | 2022  | 2021  | 2020  | Amount  | %  | Amount  | %  |
| **NET SALES**  | $1562.1 | $1438.8 | $1232.6 | $123.3 | 8.6% | $206.2 | 16.7% |
| Cost of sales  | 1203.2 | 1088.3 | 923.2 | (114.9) | (10.6)% | (165.1) | (17.9)% |
| **GROSS MARGIN**  | $358.9 | $350.5 | $309.4 | $8.4 | 2.4% | $41.1 | 13.3% |
|  **OPERATING EXPENSES AND <br> INCOME**  |  |  |  |  |  |  |  |
|  Selling, general and administrative expenses  | 139.7 | 126.2 | 112.1 | (13.5) | (10.7)% | (14.1) | (12.6)% |
|  Research, development and engineering expenses  | 38.6 | 42.0 | 39.0 | 3.4 | 8.1% | (3.0) | (7.7)% |
|  Equity, royalty and interest income from investees  | 28.0 | 32.4 | 40.7 | (4.4) | (13.6)% | (8.3) | (20.4)% |
| Other Operating Expense, net  | 5.0 |  |  | (5.0) | N/A |  | N/A |
| **OPERATING INCOME**  | $203.6 | $214.7 | $199.0 | $(11.1) | (5.2)% | $15.7 | 7.9% |
| Interest expense  | 0.7 | 0.8 | 0.4 | 0.1 | 12.5% | (0.4) | (100.0)% |
| Other income, net  | 8.8 | 3.9 | 2.0 | 4.9 | 125.6% | 1.9 | 95.0% |
|  **INCOME BEFORE INCOME TAXES**  | $211.7 | $217.8 | $200.6 | $(6.1) | (2.8)% | $17.2 | 8.6% |
| Income tax expense  | 41.6 | 46.5 | 57.8 | 4.9 | 10.5% | 11.3 | 19.6% |
| **NET INCOME**  | $170.1 | $171.3 | $142.8 | $(1.2) | (0.7)% | $28.5 | 20.0% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | Favorable/(Unfavorable) <br> Percentage Points  | Favorable/(Unfavorable) <br> Percentage Points  |
| Percent of net sales  | 2022  | 2021  | 2020  | 2022 vs 2021  | 2021 vs 2020  |
| Gross margin  | 23.0% | 24.4% | 25.1% | (1.4) | (0.7) |
| Selling, general and administrative expenses  | 8.9% | 8.8% | 9.1% | (0.1) | 0.3 |
|  Research, development and engineering expenses  | 2.5% | 2.9% | 3.2% | 0.4 | 0.3 |

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#### 2022 vs. 2021

#### Net Sales
Net sales were $1,562.1 million (which included related party sales of $344.9 million) for 2022, an increase of $123.3 million compared to $1,438.8 million (which included related party sales of $328.6 million) for 2021. Of the total net sales increase of $123.3 million, consisting of $107.0 million in increased external sales and $16.3 million in increased related party sales, approximately $115.0 million was due to increased pricing for OEM and aftermarket products across all major regions we serve due to higher inflationary costs. We saw higher volumes that more than offset the negative impacts of currency.

#### Gross Margin
Gross margin was $358.9 million for 2022, an increase of $8.4 million compared to $350.5 million for 2021. The increase in gross margin was mainly due to higher sales volumes and favorable pricing as described above (approximately $115.0 million), largely offset by increased material costs driven by higher commodities and freight costs. Gross margin as a percentage of net sales was approximately 23.0% for 2022, a decrease of 1.4 percentage points compared to 24.4% for 2021. The decrease in

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gross margin as a percentage of net sales was primarily due to the high inflationary costs impacting material costs and increased freight costs due to supply chain constraints, which increased at a faster rate than the increase in net sales.

#### Selling, General and Administrative Expenses
Selling, general and administrative expenses were $139.7 million for 2022, an increase of $13.5 million compared to $126.2 million for 2021, primarily due to increased costs related to separation, partially offset by lower variable compensation. Selling, general and administrative expenses as a percentage of net sales was 8.9% for 2022, an increase of 0.1 percentage points compared to 8.8% in 2021. The increase in selling, general and administrative expenses as a percentage of net sales is primarily driven by the costs related to separation being higher compared to the increase in net sales.

#### Research, Development and Engineering Expenses
Research, development and engineering expenses were $38.6 million for 2022, a decrease of $3.4 million compared to $42.0 million in 2021, primarily due to lower corporate allocations of $7.4 million in 2022 compared to $8.9 million in 2021. Research, development and engineering expenses as a percentage of net sales was 2.5% for 2022, a decrease of 0.4 percentage points compared to 2.9% for 2021. The decrease in research, development and engineering expenses was mainly due to net sales increasing at a higher rate than the increase in research, development and engineering expenses and lower corporate allocations.

#### Equity, Royalty and Interest Income From Investees
Equity, royalty and interest income from investees were $28.0 million, a decrease of $4.4 million compared to $32.4 million for 2021, primarily due to lower earnings from our joint venture in China as a result of the COVID-19 response and declining economic conditions, as well as reduced demand in China.

#### Other Operating Expense, Net
Other operating expense, net was $5.0 million for 2022, an increase of $5.0 million compared to zero for 2021. The increase was primarily due to asset write-offs, partially offset by gains on asset sales.

#### Other Income, Net
Other income, net was $8.8 million for 2022, an increase of $4.9 million compared to $3.9 million for 2021. The increase in other income, net was primarily due to an increase in the non-service benefit of our defined benefit pension plans as compared to 2021.

#### Income Tax Expense
Our effective tax rate for 2022 was 19.7%, a decrease of 1.6 percentage points compared to 21.3% for 2021.

The year ended December 31, 2022 contained unfavorable discrete tax items of $5.4 million, primarily due to $5.2 million of unfavorable changes in tax reserves.

The year ended December 31, 2021 contained unfavorable net discrete tax items of $2.6 million, primarily due to $3.5 million of unfavorable changes in tax reserves, partially offset by $0.9 million of favorable other discrete tax items.

#### 2021 vs. 2020

#### Net Sales
Net sales were $1,438.8 million (which included related party sales of $328.6 million) for 2021, an increase of $206.2 million compared to $1,232.6 million (which included related party sales of

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$280.8 million) for 2020. Of the total net sales increase of $206.2 million, consisting of $158.4 million in increased external sales and $47.8 million in increased related party sales, $187.5 million was primarily associated with the sales volume increase resulting from the recovery of COVID-19 and $18.7 million was attributable to price increases reflecting pass-through price increases due to inflation.

#### Gross Margin
Gross margin was $350.5 million for 2021, an increase of $41.1 million compared to $309.4 million for 2020. The increase in gross margin was mainly due to higher sales volumes and favorable pricing as described above (approximately $96.0 million), and lower quality costs of about $17.0 million, partially offset by higher compensation expenses (driven by lower variable compensation and temporary salary reductions in 2020), increased supply chain and freight costs of $19.0 million and higher material costs of $50.0 million, which are attributable to inflation. Gross margin as a percentage of net sales was approximately 24.4% for 2021, a decrease of 0.7 percentage points compared to 25.1% for 2020. The decrease in gross margin as a percentage of net sales was primarily due to higher compensation expenses and increased materials, supply chain and freight costs, which increased at a faster rate than the increase in net sales.

#### Selling, General and Administrative Expenses
Selling, general and administrative expenses were $126.2 million for 2021, an increase of $14.1 million compared to $112.1 million for 2020. The increase in selling, general and administrative expenses was primarily due to higher compensation expenses relating to our sales and corporate employees (driven by lower variable compensation and temporary salary reductions in 2020). Selling, general and administrative expenses as a percentage of net sales was 8.8% for 2021, a decrease of 0.3 percentage points compared to 9.1% for 2020. The decrease in selling, general and administrative expenses as a percentage of net sales was primarily due to net sales increasing at a faster rate than the increase in selling, general and administrative expenses.

#### Research, Development and Engineering Expenses
Research, development and engineering expenses were $42.0 million for 2021, an increase of $3.0 million compared to $39.0 million for 2020. The increase in research, development and engineering expenses was primarily due to higher compensation expenses relating to our technical and engineering employees (driven by lower variable compensation and temporary salary reductions in 2020). Research, development and engineering expenses as a percentage of net sales was 2.9% for 2021, a decrease of 0.3 percentage points compared to 3.2% for 2020. The decrease in research, development and engineering expenses as a percentage of net sales was primarily due to net sales increasing at a faster rate than the increase in research, development and engineering expenses.

#### Equity, Royalty and Interest Income From Investees
Equity, royalty and interest income from investees was $32.4 million for 2021, a decrease of $8.3 million compared to $40.7 million for 2020. The decrease in equity, royalty and interest income from investees was primarily due to the absence of a $14.0 million favorable adjustment recorded in 2020, as the result of tax changes within India's 2020-2021 Union Budget of India (India Tax Law Changes) passed in March 2020. This decrease was partially offset by higher earnings at Fleetguard Filters Pvt. Ltd. See Note 6, "INCOME TAXES" to the combined financial statements for additional information on India Tax Law Changes.

#### Other Income, Net
Other income, net was $3.9 million for 2021, an increase of $1.9 million compared to $2.0 million for 2020. The increase in other income, net was primarily due to an increase in non-service benefit of our defined benefit pension plans as compared to 2020.

#### Income Tax Expense
Our effective tax rate for 2021 was 21.3% compared to 28.8% for 2020.

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The year ended December 31, 2021 contained unfavorable net discrete tax items of $2.6 million, primarily due to $3.5 million of unfavorable changes in tax reserves, partially offset by $0.9 million of favorable other discrete tax items.

The year ended December 31, 2020 contained $24.1 million of unfavorable net discrete tax items, primarily due to $18.2 million of unfavorable changes in tax reserves and $8.9 million of withholding tax adjustments, partially offset by $3.0 million of favorable other discrete tax items. The India Tax Law Changes eliminated the dividend distribution tax and replaced it with a lower rate withholding tax as the burden shifted from the dividend payor to the dividend recipient. See Note 6, "INCOME TAXES" to the combined financial statements for additional information on India Tax Law Changes.

#### Non-GAAP Measures
In addition to the results reported in accordance with U.S. GAAP, we have provided information regarding EBITDA, EBITDA margin and Adjusted EBITDA, which are non-GAAP financial measures and the key measures we use for determining how our business is performing. EBITDA is defined as earnings or losses before interest expense, income taxes, depreciation and amortization and EBITDA margin is defined as EBITDA as a percent of net sales. Adjusted EBITDA represents EBITDA after adding back certain one-time expenses associated with becoming a standalone public company. These standalone costs are reflected in cost of sales and selling, general and administrative expenses for 2022. We believe EBITDA and EBITDA margin are useful measures of our operating performance as they assist investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors. Additionally, we believe these metrics are widely used by investors, securities analysts, ratings agencies and others in our industry in evaluating performance. We believe Adjusted EBITDA is a useful measure of our operating performance as it allows investors and debt holders to compare our performance on a consistent basis without regard to one-time costs attributable to our becoming a standalone public company.

EBITDA, EBITDA margin and Adjusted EBITDA are not in accordance with, or alternatives for, U.S. GAAP financial measures and may not be consistent with measures used by other companies. It should be considered supplemental data; however, the amounts included in the EBITDA, EBITDA margin and Adjusted EBITDA calculations are derived from amounts included in the combined statements of net income. We do not consider our non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. Some of the limitations are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such measures do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such measures do not reflect changes in, or cash requirements for, our working capital needs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such measures do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments on our debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any cash requirements for such replacements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • other companies in our industry may calculate such measures differently than we do, limiting their usefulness as comparative measures.

To properly and prudently evaluate our business, we encourage you to review the combined financial statements included elsewhere in this prospectus, and not rely on a single financial measure to evaluate our business. A reconciliation of net income to EBITDA and Adjusted EBITDA is shown in the table below:

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|:---|:---|:---|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2022  | 2021  | 2021  | 2020  | 2020  |
| **NET INCOME**  | $| 170.1 | $| 171.3 | $| 142.8 |
| Plus: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Interest expense  |  | 0.7 |  | 0.8 |  | 0.4 |
| &nbsp;&nbsp;&nbsp; Income tax expense  |  | 41.6 |  | 46.5 |  | 57.8 |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization  |  | 21.6 |  | 21.6 |  | 21.1 |
| **EBITDA (non-GAAP)**  | $| 234.0 | $| 240.2 | $| 222.1 |
| Plus: |  |  |  |  |  |  |
| One-Time Separation Costs  | $| 9.0 |  | 0 |  | 0 |
| **Adjusted EBITDA (non-GAAP)**  | $| 243.0 | $| 240.2 | $| 222.1 |
| Net sales  | $| 1562.1 | $| 1438.8 | $| 1232.6 |
| **Net income margin**  |  | 10.9% |  | 11.9% |  | 11.6% |
| **EBITDA margin (non-GAAP)**  |  | 15.0% |  | 16.7% |  | 18.0% |

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#### Liquidity and Capital Resources
Our principal sources of liquidity are expected to be operating cash flows, cash and cash equivalents and availability of undrawn capacity under our revolving credit facility, including committed credit facilities to be entered into prior to the completion of the separation. For a description of our revolving credit facility and the credit agreement, please see the section entitled "*Description of Material Indebtedness.*"

Upon completion of the separation and the debt financing, we expect to have a cash amount of approximately $110 million. This amount will be retained after we pay to Cummins upon the completion of this offering, as partial consideration for the filtration business that Cummins is contributing to us in connection with the separation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • The amount of existing cash, plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • The net proceeds from the term loan that we will enter into prior to the closing of this offering plus any amounts drawn under the revolving credit facility, less

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • An amount of cash to be retained by us in an amount to be determined by Cummins.

Our management reviews our liquidity needs in determining any and all indebtedness options. We will also have the ability to access the capital markets following the separation. Our cash needs are expected to include funding of ongoing operations, making anticipated capital investments and supporting any future acquisitions. We continue to generate substantial cash from operating activities and believe that our operating cash flow and other sources of liquidity will be sufficient following the separation to allow us to manage our business and capital structure over the next twelve months.

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| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Net cash provided by operating activities  | $177.0 | $202.3 | $213.1 |
| Net cash used in investing activities  | (33.4) | (31.9) | (26.5) |
| Net cash used in financing activities  | (143.6) | (170.4) | (186.6) |
| Total increase/(decrease) in cash  |  |  |  |
| Cash at the beginning of the period  | $— | $— | $— |
| Cash at the end of the period  | $— | $— | $— |

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#### Operating Cash Flow
Net cash provided by operating activities was $177.0 million in 2022, a decrease of $25.3 million compared to $202.3 million in 2021. The overall decrease was driven primarily by higher working capital

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requirements of $21.5 million and an increase in deferred taxes of $10.0 million, partially offset by favorable changes in other liabilities including pensions of $1.6 million. The higher working capital requirements were driven by lower other accrued expenses, higher trade receivables and lower trade payables, partially offset by lower inventories.

Net cash provided by operating activities was $202.3 million in 2021, a decrease of $10.8 million compared to $213.1 million in 2020. The overall decrease was driven primarily by a reduction in other liabilities of $30.9 million, lower warranty accruals of $14.0 million and higher working capital requirements of $1.2 million, partially offset by net income after adjustments to reconcile net income to net cash provided by operating activities of $35.3 million. The higher working capital requirements were driven by higher inventories, partially offset by higher related party payables. Inventories were built in 2021 vs. 2020 in an effort to manage through the supply chain disruptions.

Dividends received from our unconsolidated equity investees were $23.1 million, $24.0 million and $19.3 million in 2022, 2021 and 2020, respectively. Dividends are typically paid in the second through the fourth quarters and are included in net cash provided by operating activities.

#### Investing Cash Flow
Net cash used in investing activities for each fiscal year presented was primarily used for capital expenditures. Our capital expenditures were $32.5 million, $30.8 million and $25.5 million in 2022, 2021 and 2020, respectively, corresponding to approximately 2.1% of net sales in 2022, 2021 and 2020. We also capitalized $0.9 million, $1.1 million, and $1.0 million in internal use software costs in 2022, 2021, and 2020, respectively.

#### Financing Cash Flow
Net cash used in financing activities was $143.6 million, $170.4 million, and $186.6 million, in 2022, 2021 and 2020, respectively.

Cummins uses a centralized approach to cash management and financing of its operations, including our operations. Accordingly, we have transferred all of our cash to Cummins to be utilized in the central cash management program and as a result do not have cash allocated to us in the combined financial statements.

#### Contractual Obligations
Our commitments consist of lease obligations for real estate and equipment. For more information regarding our lease obligations, see Note 9, "LEASES" of the combined financial statements which provides a summary of our future minimum lease payments.

#### Application of Critical Accounting Policies
A summary of our significant accounting policies is included in Note 3, "SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES", of the combined financial statements which discusses accounting policies that we selected from acceptable alternatives.

The combined financial statements are prepared in accordance with U.S. GAAP which often requires management to make judgments, estimates and assumptions regarding uncertainties that affect the reported amounts presented and disclosed in the financial statements. Management reviews these estimates and assumptions based on historical experience, changes in business conditions and other relevant factors they believe to be reasonable under the circumstances. In any given reporting period, our actual results may differ from the estimates and assumptions used in preparing the combined financial statements.

Critical accounting estimates are defined as follows: the estimate requires management to make assumptions about matters that were highly uncertain at the time the estimate was made; different estimates reasonably could have been used; or if changes in the estimate are reasonably likely to occur from period to period and the change would have a material impact on our financial condition or

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results of operations. Our critical accounting estimates include estimating variable consideration for revenue recognition and accounting for income taxes.

#### Revenue Recognition
We sell to customers either through long-term arrangements or standalone purchase orders. Our long-term arrangements generally do not include committed volumes until underlying purchase orders are issued. Typically, we recognize revenue on the products we sell at a point in time, in accordance with shipping terms or other contractual arrangements.

The transaction price of a contract could be reduced by variable consideration including aftermarket rebates, volume and growth rebates and sales returns. At the time of sale to a customer, we record an estimate of variable consideration as a reduction from gross sales. We primarily rely on historical experience and anticipated future performance to estimate the variable consideration. Revenue is recognized to the extent that it is probable that a significant reversal of revenue will not occur when the contingency is resolved.

For aftermarket rebates and volume and growth rebates, purchase rebates and discounts, management estimates are based on the terms of the arrangements with customers, historical payment experience, volume in quantity or mix of purchases of product during a specified time period and expectations for changes in relevant trends in the future. Adjustments to rebate accruals are made as actual usage becomes known in order to properly estimate the amounts necessary to generate consumer demand based on market conditions as of the balance sheet date.

For product returns, some aftermarket customers are permitted to return small amounts of parts and filters each year. An estimate of future returns is accounted for at the time of sale as a reduction in the overall sales revenue based on historical return rates.

#### Accounting for Income Taxes
We determine our income tax expense using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax effects of temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Future tax benefits of net operating loss and credit carryforwards are also recognized as deferred tax assets. We evaluate the recoverability of our deferred tax assets each quarter by assessing the likelihood of future profitability and available tax planning strategies that could be implemented to realize our net deferred tax assets. At December 31, 2022, we recorded net deferred tax assets of $7.0 million. The assets included $18.6 million for the value of net operating loss and credit carryforwards. A valuation allowance of $16.4 million was recorded to reduce the tax assets to the net value management believed was more likely than not to be realized. In the event our operating performance deteriorates, future assessments could conclude that a larger valuation allowance will be needed to further reduce the deferred tax assets.

In addition, we operate within multiple taxing jurisdictions and are subject to tax audits in these jurisdictions. These audits can involve complex issues, which may require an extended period of time to resolve. We accrue for the estimated additional tax and interest that may result from tax authorities disputing uncertain tax positions. We believe we made adequate provisions for income taxes for all years that are subject to audit based upon the latest information available. A more complete description of our income taxes and the future benefits of our net operating loss and credit carryforwards is disclosed in Note 6, "INCOME TAXES," to the combined financial statements.

#### Market Risk Disclosure

#### Foreign Currency Exchange Risk
As a result of our international business presence, we are exposed to foreign currency exchange rate risks. We transact business in foreign currencies and, as a result, our income and financial condition are exposed to movements in foreign currency exchange rates. This risk is closely monitored and managed by Cummins through the use of financial derivative instruments. Financial derivatives are

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used by Cummins expressly for hedging purposes and under no circumstances are they used for speculative purposes. Substantially all of Cummins' derivative contracts are subject to master netting arrangements, which provide the option to settle certain contracts on a net basis when they settle on the same day with the same currency. In addition, these arrangements provide for a net settlement of all contracts with a given counterparty in the event that the arrangement is terminated due to the occurrence of default or a termination event.

To help manage our exposure to exchange rate volatility, Cummins enters into foreign currency forward contracts on a regular basis to hedge forecasted intercompany and third-party sales and purchases denominated in non-functional currencies. Cummins' foreign currency cash flow hedges generally mature within two years. These foreign currency forward contracts are designated and qualify as foreign currency cash flow hedges. For the years ended December 31, 2022, 2021 and 2020, there were no circumstances that resulted in the discontinuance of a foreign currency cash flow hedge.

To minimize the income volatility resulting from the remeasurement of net monetary assets and payables denominated in a currency other than the functional currency, Cummins enters into foreign currency forward contracts, which are considered economic hedges. The objective is to offset the gain or loss from remeasurement with the gain or loss from the fair market valuation of the forward contract. These derivative instruments are not designated as hedges.

The potential gain or loss in the fair value of our outstanding foreign currency contracts, assuming a hypothetical 10% fluctuation in the currencies of such contracts, would not have a material impact on our combined financial statements for the years ended December 31, 2022, 2021 and 2020. The sensitivity analysis of the effects of changes in foreign currency exchange rates assumes the notional value to remain constant for the next 12 months. The analysis ignores the impact of foreign exchange movements on our competitive position and potential changes in sales levels. Any change in the value of the contracts, real or hypothetical, would be significantly offset by an inverse change in the value of the underlying hedged items.

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#### BUSINESS

#### Overview
Atmus is one of the global leaders of filtration products for on-highway commercial vehicles and off-highway agriculture, construction, mining and power generation vehicles and equipment. We design and manufacture advanced filtration products, principally under the Fleetguard brand, that enable lower emissions and provide superior asset protection. We estimate that approximately 16% of our net sales in 2022 were generated through first-fit sales to OEMs, where our products are installed as components for new vehicles and equipment, and approximately 84% were generated in the aftermarket, where our products are installed as replacement or repair parts, leading to a strong recurring revenue base. Building on our 60-year history, we continue to grow and differentiate ourselves through our global footprint, comprehensive offering of premium products, technology leadership and multi-channel path to market.

For the year ended December 31, 2022, we generated $1,562.1 million in net sales, $170.1 million in net income and $234.0 million in EBITDA. See "*Summary Historical and Unaudited Pro Forma Combined Financial Data*" for a description of EBITDA and a reconciliation of EBITDA to net income, the most directly comparable financial measure calculated in accordance with U.S. GAAP.

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| | |
|:---|:---|
| **<u>2022 Net Sales By Product</u>**  | **<u>2022 Net Sales By Geography</u>**  |
| ![[MISSING IMAGE: tm2211801d1-pc_product4c.jpg]](tm2211801d1-pc_product4c.jpg)  | ![[MISSING IMAGE: tm2211801d2-pc_geograph4c.jpg]](tm2211801d2-pc_geograph4c.jpg)  |

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#### Our Global Footprint
Our global footprint serves end-users in approximately 150 countries, with approximately 49% of our net sales in 2022 from outside of the United States and Canada. We believe that we, together with our joint ventures in China and India, have a leading position in our core markets, based on net sales in 2022. We maintain strong global customer relationships, supported by an established salesforce with work locations in 25 countries as of December 31, 2022. Also, as of December 31, 2022, we operate through 12 distribution centers, nine manufacturing facilities and five technical facilities plus 10 manufacturing facilities and two technical facilities operated by our joint ventures, giving us presence on six continents.

#### Our Premium Products
We offer a full spectrum of filtration solutions that enable lower emissions and provide superior asset protection. Our filtration products provide comprehensive and differentiated solutions, which allow our end-users to extend service intervals, reduce maintenance costs and increase uptime. Our products include fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters and coolants and other chemicals. Our broad range of products in each of our core markets enables one-stop shopping, which we believe is a key competitive advantage.

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![[MISSING IMAGE: tm2211801d2-ph_highway4clr.jpg]](tm2211801d2-ph_highway4clr.jpg)

#### Our Markets
We believe the filtration product market is large and attractive, with estimated total product sales of approximately $74 billion in 2021, of which we believe the total engine products market — consisting of our core markets and the passenger car market — was approximately $30 billion. Within the total engine products market, we estimate that our core markets had a total addressable market of approximately $13 billion in 2021, having grown by approximately 2% CAGR over the last five-year period ending in 2021. We estimate that the passenger car market had a total addressable market of approximately $17 billion in 2021. The balance of the filtration product market is made up of industrial filtration markets, which we estimate had a total addressable market of approximately $44 billion in 2021. Our strategy includes a focus on expanding into industrial filtration markets in the future; these markets have grown by approximately 5% CAGR over the five year period ending 2021. Looking ahead, we expect the industrial filtration markets to grow by approximately 4% CAGR and our core markets by approximately 2% CAGR, in each case through the five-year period ending in 2025.

The engine filtration market is impacted by the following key drivers and trends:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Growth in freight volumes (on-highway) and industrial activity (off-highway):*** We believe broader economic growth is a strong indicator for our business. The U.S. Bureau of Transportation Statistics' Freight Analysis Framework forecasted (as of December 2022) that between 2020 and 2050 U.S. freight activity will double in value, and expected that trucks will remain the predominant freight carrier in the future. Off-highway activity is correlated with the overall construction industry. Dodge Construction Network predicted (as of November 2022) that the U.S. construction industry will remain flat for 2023, and the Construction Industry Databook expected (as of October 2022) a 5.5% CAGR from 2022 to 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Growth in emerging markets:*** Global growth in core markets is being driven by macro-economic expansion, including the build-out of infrastructure. Asian markets, including India, are currently positioned for high growth. According to the International Monetary Fund, from 2017 to 2022, gross domestic product in India has grown at a compounded annual growth rate of 5.5%. The growth in India is primarily driven by the increasing demand for transportation as well as emission regulations. Although growth in China was depressed in 2022 due to the COVID-19 response and declining economic conditions, China had experienced high growth in the prior years and we expect a partial recovery over the next few years. Gross domestic product in China has grown at a compounded annual growth rate of 8.3% from 2017 to 2022 according to the International Monetary Fund. The growth in China is primarily driven by investments in infrastructure and emission regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***More stringent emissions standards:*** Our core markets will need to comply with more stringent regulatory standards on emissions driving the requirement for higher quality, increased content and higher priced filtration systems.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Technology transition:*** There is broad based recognition that GHG emissions are driving climate change. Increasingly, our customers, governments, and investors are making commitments to reduce their GHG emissions, including pledges to achieve net zero GHG emissions by 2050. While the pace of adoption will vary by region, our core markets may be impacted by technology transitions, including transition to battery-electric vehicles, fuel cell electric vehicles and alternate power sources.

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#### History
Our business was founded in 1958, beginning with a single filter production line developed by Cummins Engine Company in Seymour, Indiana to meet the high performance requirements of Cummins diesel engines. As early as 1963, Cummins initiated the Fleetguard brand, which is a well-recognized brand in our core markets. In 1987, the India Fleetguard joint venture was established and in 1994 a joint venture in China was formed as Cummins continued to enter emerging markets. In 2006, our wholly owned subsidiary China Filtration was established, and in 2010, the Korea media facility was opened. In 2016, an India technology facility was opened and Atmus moved to a new corporate headquarters in Nashville.

#### Our Competitive Strengths

#### Technology leadership and deep industry knowledge enable us to deliver better customer solutions
We combine a culture of innovation with deep-seated experience in our industry to deliver superior filtration solutions for our customers. Our technical team develops a range of filtration technologies, including filtration media, filter element formation, filtration systems integration and service-related solutions such as remote digital diagnostic and prognostic platforms and analytics. Our technical team of approximately 350 engineers, scientists and technical specialists are located in five technical centers around the world, with approximately 25% holding advanced technical degrees. Our team draws on a 60-year history focused on filtration and media technologies. We have a broad IP portfolio with over 1,300 worldwide active or pending patents and patent applications and over 500 worldwide trademark registrations and applications as of December 31, 2022.

We have leveraged this expertise not only to develop our cutting-edge filters, filter systems and filtration media but also to manufacture a large portion of our proprietary filtration media. This allows us to move swiftly from development to application of filtration technologies that protect and enhance the operation of our customer's equipment and machines. StrataPore, NanoNet, NanoForce, and most recently, NanoNet Plus product families have enabled engines and equipment to meet continually changing emissions and performance requirements.

Our technical team works closely with our customers to develop and apply filtration technologies that help them improve their operations. For example, we helped a key customer and partner in China to be one of the first to extend maintenance intervals on both lube and fuel filtration systems from 20,000 kilometers to 100,000 kilometers. Additionally, our NanoNet Plus fuel filtration and fluid control systems have delivered fuel system component protection meeting stringent European and North American requirements while still providing enhanced service intervals, and our eRCV product families continue to offer crankcase emissions performance control across European, North American, and China-based customers. Our technology allows us to deliver performance-enabling and customized filtration solutions for our end-users, which creates long-lasting partnerships with our customers.

#### Iconic Fleetguard brand with premium products
We believe that Fleetguard is a premium, leading brand that is strongly associated with reliability and strong performance. We offer a full suite of Fleetguard-branded filtration products. With its broad line of high-quality filtration products, our Fleetguard brand provides filters for nearly all makes of vehicles and equipment in our core markets, which further enhances our availability, visibility and brand recognition. Our Fleetguard brand is further supported by a competitive warranty that gives our customers and end-users high confidence in the performance and durability of our products.

#### Partnering with leading OEMs
We have a strong history as a supplier to leading OEMs, including CNH Industrial, Cummins, Daimler, Deere, Doosan, Foton, Komatsu, PACCAR/DAF, the Traton Group (Navistar/Scania/MAN) and Volvo. We sell both first-fit and aftermarket products to these customers and have been selling to each of them for at least 10 years. These customers in the aggregate accounted for approximately 68%

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of our net sales in 2022 and have consistently accounted for more than 66% of our net sales in each of the last 5 years. We have written agreements with most of our key customers that specify certain purchase parameters, but do not obligate them to specific volumes. We invest in our relationships and utilize our technical strengths to win first-fit business with these OEMs, which drives our installed base, yielding strong recurring revenue streams in the aftermarket. The OEMs also provide us with early insight into technological developments and evolving product requirements within the broader engine and industrial application industry, allowing us to be well positioned as the world shifts towards more complex modular filtration systems and filtration for other power sources.

Cummins is our largest customer and accounted for approximately 19% of our net sales in 2022. Following the offering, this relationship will be defined by the first-fit supply agreement and the aftermarket supply agreement. See "*Certain Relationships and Related Party Transactions — Relationship with Cummins — First-Fit Supply Agreement*" and "*Certain Relationships and Related Party Transactions — Relationship with Cummins — Aftermarket Supply Agreement.*" These supply agreements will help give us visibility and stability to our future sales within the terms of the agreements. In addition, for over 60 years, our sales and technical teams have been embedded with Cummins, allowing us to have a deep understanding of their needs, which enables us to deliver high-quality, high-performance products that deliver value to Cummins. We partner with Cummins channels in all regions to win end-user accounts in the aftermarket and create a preference for the Fleetguard brand.

#### Multi-channel path to diverse global markets
Our global presence provides a diverse and stable customer base across truck, bus, agriculture, construction, mining and power generation vehicles and equipment markets. Our current core markets are on-highway and off-highway, representing approximately 59% and 41% of our net sales in 2022, respectively.

We estimate that approximately 84% of our net sales in 2022 were generated in the aftermarket. To drive these net sales, we have developed a multi-channel path to global markets that ensures broad product availability and provides end-users with choice and flexibility in purchasing. We distribute our products through a broad range of OEM dealers, independent distributors, and retail outlets, including truck stops.

The dealers of the OEMs are typically the channel preferred by customers in many markets. Our close relationships with the OEMs and strong first-fit installed base position us well with the OEM dealer network and large fleet customers. For example, the dealers of four of the largest North America on-highway OEMs carry a significant range of our products at their dealerships.

In addition, Cummins distributors, independent distributors and retailers enable us to reach a broader end-user market and create additional points of sale or service. We estimate that, as of December 31, 2020, our filters were available in over 45,000 independent aftermarket retail outlets globally, including approximately 5,800 locations in North America, approximately 33,000 retail outlets in India, and approximately 2,000 retail outlets in China. We also work directly with major customers of our channel partners (such as large fleets or mining companies), across our end markets, to create strong brand preference, which, in turn, leads to strong demand for our products and generates recurring revenue. We continue to increase geographic coverage within regions to better serve our customers by investing in distribution expansion.

We typically ship directly from our 12 distribution centers (as of December 31, 2022) worldwide to our channel partners, which provides direct connection and detailed understanding of our customer and end-user base. Our comprehensive distribution and market coverage is vital to maintaining our broad reach, global presence, and brand recognition.

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![[MISSING IMAGE: tm2211801d2-fc_channel4clr.jpg]](tm2211801d2-fc_channel4clr.jpg)

#### Comprehensive aftermarket coverage and large installed base
We have a large installed base driven by first-fit relationships with leading OEMs, leading to long product life cycles and a strong stable revenue base. In the last few years our business strategy has put increased focus on releasing first-fit OEM parts, which we believe will increase aftermarket retention. Our large installed base protects against cyclicality in truck sales and creates a long tail of revenue due to the long lifespans of commercial vehicles and equipment, together with the extensive aftermarket service they require throughout their useful lives. For example, the LF670 filter was first installed on trucks in the 1970s and continues to generate an aftermarket revenue stream approximately 50 years post launch. Aftermarket product sales tend to have a higher profit margin, relative to first-fit systems, driving higher operational cash flow and stability throughout the business cycle.

Our end-user relationships provide critical market intelligence that help drive up-sell and cross-sell opportunities, while providing us direct visibility to market opportunities. Additionally, these end-user relationships enable us to accelerate the launch of a broad range of products where we are not the first-fit.

#### Scalable global manufacturing operations
We maintain a global manufacturing footprint with highly capable manufacturing facilities in six continents. As of December 31, 2022, we had nine manufacturing sites for Atmus, and 10 for our joint ventures, allowing us to maintain proximity with our customers and global scale. All nine of our manufacturing facilities have obtained either ISO 9001 or ISO/TS 16949 quality management certifications. Additionally, our global warehousing footprint enhances this proximity with 12 distribution centers (as of December 31, 2022) strategically located around the world.

Our significant volumes allow us to take advantage of economies of scale. We have invested strategically in automation and optimization of core filtration manufacturing processes to deliver cost efficiencies.

#### Attractive margins and strong operating cash flow generation
Our business benefits from attractive margins and a track record of strong cash flow generation. Our high percentage of recurring revenue, relative to other industrial businesses, helps mitigate market cyclicality and revenue volatility. We realized a net income margin of 10.9% and an EBITDA margin of 15.0% in 2022. Our business is resilient, which is evidenced by the fact that despite the changes in economic conditions due to the COVID-19 pandemic, our net sales rebounded with a 16.7% increase in 2021 (as compared to 2020) and increased by 8.6% in 2022 (as compared to 2021). We generate strong operating cash flow from operations with high cash flow conversion, delivering $592.4 million from 2020 to 2022.

#### Experienced leadership team with a proven track record of driving growth
We are led by an energized and experienced senior leadership team with extensive industry experience with Cummins and other leading industrial companies. Our strategic vision and culture are

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directed by our executive leadership team under the leadership of our Chief Executive Officer, Steph Disher, our Chief Financial Officer, Jack Kienzler, our Chief Human Resources Officer, Mark Osowick, our Chief Legal Officer, Toni Y. Hickey and our Vice President, Engine Products, Charles Masters. Steph Disher joined Cummins in 2013 and has over 20 years of experience in leadership positions, including international assignments in Australia, Asia, and the United States. Most recently, Steph Disher served as Vice President of Cummins Filtration where she has demonstrated a continued track record of strong business performance, innovation, and operational excellence. Jack Kienzler joined Cummins in 2014 and has over 13 years of finance experience. He most recently served as the Executive Director of Investor Relations at Cummins, having formerly led the Corporate Development team. Mark Osowick joined Cummins in 2007 and has over 30 years of experience in human resource management and project management leadership roles. Toni Y. Hickey joined Cummins in 2012 and has over 24 years of experience as an intellectual property lawyer. Charles Masters joined Cummins in 2003 and has over 19 years of experience in global sales and operational leadership roles within Cummins. Our leadership team has the ability to develop and execute our strategic vision and aims to create long-term shareholder value. We benefit from our team's industry knowledge and track record of successful product innovation and financial performance. Additionally, members of our senior leadership team have strong experience executing and integrating acquisitions and strategic partnerships to drive accelerated growth and improved profitability.

#### Our Business Strategy

#### Grow share in first-fit in core markets
Our organic first-fit growth opportunities are centered on four pillars:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Grow market share with leading OEMs*: We benefit from deep relationships with leading OEMs. Our technology innovations, global footprint and preferred brand position us well to grow along with the leading OEMs. As our OEM partners continue to grow in share and through consolidation of their respective markets, we will partner with them to grow. This growth with OEMs in turn increases the installed base for our products, which drives recurring aftermarket revenue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Support technology transitions with leading OEMs*: We plan to further build on our relationship with OEMs as they transition to alternate fuel technologies, such as hydrogen-powered internal combustion engines, battery electric vehicles and fuel cell electric vehicles. Some of our current developments in the alternative fuel space include hydrogen water separators, air filtration products, coolants, water filters, and de-ionizers. We currently have a number of alternative fuel development programs underway with our existing customer base. We are well positioned for the broader transition of technology through our existing relationships with customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Enhanced product content per vehicle*: We have a focus on offering system modules and highly integrated solutions as customers and end-users seek improved filtration performance and quality, which we believe will result in increased first-fit content per vehicle. We are also extending into smart filtration solutions, including embedded sensors, prediction algorithms, and data analytics tools.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Accelerate new product development*: We are accelerating our new product development cycle by continued investment in advanced system level testing capabilities, leveraging in-house 3D printing capabilities, utilizing powerful simulation tools and applying machine learning tools throughout our product development cycle.

#### Accelerate profitable growth in the aftermarket
We estimate that aftermarket net sales represented approximately 84% of our existing business in 2022, and has significant opportunity for further growth through these strategic initiatives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Expand our product portfolio*: Offering a comprehensive product portfolio provides a 'one-stop shop' for our customers. We offer a wide range of products to ensure product coverage

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and continue to release new products on a yearly basis. As of December 31, 2022, we have launched approximately 400 new products, on average, over each of the last three years. We have a team dedicated to tracking new filter releases and launching new competitive products rapidly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Use analytics to target and capture growth opportunities:* We will continue to develop and enhance analytic tools, including using machine learning and artificial intelligence, to identify cross-sell or up-sell opportunities, and new or underserved customers, and precisely estimate the opportunity for additional sales of our Fleetguard-branded products. We work directly with end-users or through our channel partners to define, track and measure opportunities and conversion rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Expand reach through multi-channel distribution:* It is important that we can reach end-users no matter where they are, or how they choose to purchase our products. We continue to expand our presence with OEM dealers, independent distributors, service centers and retail outlets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Invest in product technology advantage to enhance value and protect revenue:* Where Atmus is the first-fit, we increase customer retention on aftermarket opportunities by using advanced technologies and proprietary product designs that drive improved performance and create preference for our products. Where Atmus is not the first-fit, we continue to develop products that meet or exceed the first-fit product, supporting our brand position as premium quality and performance, and leading to high customer loyalty.

#### Transform our supply chain
We are focused on transforming our supply chain to improve customer experience, which will drive growth and reduce overall cost, leading to margin enhancement. Our strategic initiatives have four pillars:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Drive services and availability:* Synchronize global planning across the network to focus on on-shelf availability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Optimize network:* Invest in the physical footprint to provide superior availability while minimizing material and part movement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Transform cost structure:* Optimize supplier management and spend, increase throughput across our network of plants and increase automation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • *Invest in capabilities for the future:* Deploy robust processes across the organization from forecasting through customer orders to fulfillment, and invest in critical global systems infrastructure to provide best-in-class functionality.

#### Expand our technology and diversify our distribution channels beyond our core markets
We are focused on building sustainable growth by expanding and diversifying into the industrial filtration market, which includes machinery and equipment, oil and gas, pharmaceuticals, food and beverage, and metals and mining. We believe we can leverage our global footprint and existing technical capabilities, including our proprietary filtration media technology, into these markets to open new opportunities for growth. We anticipate achieving this by expanding our focus to include non-engine products that we can sell to our current and new customers within our existing markets by utilizing our global footprint. We are working on developing capabilities, whether organically or through acquisitions or strategic partnerships, to enter new markets with long term growth prospects which will further diversify our revenue base. To the extent that we consider acquisitions, we will apply a disciplined financial framework in assessing these opportunities.

#### Supply
The performance of the end-to-end supply chain, extending through to our suppliers, is foundational to our ability to meet customers' expectations and support long-term growth. We are committed to having a robust strategy for how we select and manage our suppliers to enable a market focused supply

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chain. This requires us to continuously evaluate and upgrade our supply base, as necessary, as we strive to ensure we are meeting the needs of our customers.

We use a combination of proactive and reactive methodologies to enhance our understanding of supply base risks, which guide the development of risk monitoring and sourcing strategies. Our category strategy process (a process designed to create the most value for the company) supports the review of our long-term needs and guides decisions on what we make internally and what we purchase externally. For the items we decide to purchase externally, the strategies also identify the suppliers we should partner with long-term to provide the best technology, the lowest total cost and highest supply chain performance. Key suppliers are managed through long-term supply agreements that secure capacity, delivery, quality and ensure cost requirements are met over an extended period.

Other important elements of our sourcing strategy include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • selecting and managing suppliers to comply with our Supplier Code of Conduct; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • assuring our suppliers comply with our prohibited and restricted materials policy.

As we adjust to the recovery from the COVID-19 pandemic and the rapid return of demand in many manufacturing industries in 2022, we continued to experience supply chain disruptions, incremental costs and related challenges throughout the supply chain. We continue to monitor the supply chain disruptions and conduct structured supplier risk and resiliency assessments. We increased the frequency of formal and informal supplier engagement to address potentially impactful supply base constraints and enhanced collaboration to develop specific countermeasures to mitigate risks. Our global team, located in different regions of the world, uses various approaches to identify and resolve threats to supply continuity.

These supply chain disruptions are impacting our business as well as our suppliers and customers resulting in longer lead times in some areas of our business. Orders are issued as rolling releases with a specific lead time. When these orders are on backlog they are often subject to cancellation on reasonable notice without cancellation charges, and therefore are not considered firm. We are working closely with our customers to meet the demand and work through backlogs as efficiently as possible.

#### Materials
The principal materials that we use directly in manufacturing our products are steel, filter media and petrochemical-based products including plastic, rubber and adhesives products. In 2022, material costs represented approximately 61% of our cost of sales.

#### Customer Concentration
We have thousands of customers around the world and have developed long-standing business relationships with many of them. Cummins is our largest customer, accounting for approximately 19% of our net sales in 2022 and 2021 and 18% in 2020. In connection with the separation, we will enter into a first-fit supply agreement and an aftermarket supply agreement with Cummins for our first-fit and aftermarket products. This agreement provides for continuation of our supply for all first-fit applications that we currently support, commitment to first-fit supply for certain upcoming product launches, and continued supply of the full line of aftermarket filtration needs. It does not commit a specific volume of filters or related products. The loss of this customer or a significant decline in the production level of Cummins engines that use our filters would have an adverse effect on our results of operations and financial condition.

In addition to the agreement we will enter into with Cummins, we have long-term agreements with many of our largest customers. Collectively, our net sales from our next four top customers, other than Cummins, was approximately 39% of our net sales in 2022, 37% in 2021 and 36% in 2020. Excluding Cummins, two other customers, PACCAR and the Traton Group, accounted for more than 10% of our net sales in 2022. Our customer agreements typically contain standard purchase and sale agreement terms covering filter pricing, quality and delivery commitments, as well as engineering product support obligations. The basic nature of our agreements with OEM customers is that they are long-term price and

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operations agreements that provide for the availability of our products to each customer through the duration of the respective agreements. Where we have such agreements in place, our customers typically place purchase orders with us pursuant to these agreements. Agreements with most OEMs contain bilateral termination provisions giving either party the right to terminate in the event of a material breach, change of control or insolvency or bankruptcy of the other party.

#### Intellectual Property
We own or control a broad range of intellectual property rights, including a significant number of patents, trademarks, copyrights, trade secrets and other forms of intellectual property rights in the United States and foreign countries. We have a broad IP portfolio with over 1,300 worldwide active or pending patents and patent applications and over 500 worldwide trademark registrations and applications as of December 31, 2022, which were granted and registered over a period of years. Our leading brand house trademark is Fleetguard. We protect our innovations that arise from research and development through patent filings, as well as through trade secrets. Although these patents, trademarks and trade secrets are generally considered beneficial to our operations, we do not believe any patent, group of patents, trademark or trade secret is solely responsible for protecting our products.

#### Research and Development
In 2022, we continued to invest in future critical technologies and products. We will continue to make investments to develop new technologies and improve our current products to meet increasing and changing emissions and engine performance requirements globally for diesel and hydrocarbon-powered equipment. In addition to building on our core technologies, we are making investments in filtration and separation technologies required and used by electric powered vehicles, hydrogen production, and other industrial systems.

Our research and development programs are focused on product improvements, product extensions, innovations, and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT, administrative expenses and allocation of corporate costs and are expensed when incurred. Research and development expenses were $38.5 million, $41.6 million and $37.9 million for the years ended December 31, 2022, 2021 and 2020, respectively.

#### Seasonality
While individual product lines may experience modest seasonal variation in production, there is no material effect on the demand for the majority of our products on a quarterly basis.

#### Competition
Our company is a leading global participant in the filtration engine products markets. Our products include fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters and coolants and other chemicals. Key global participants in this market include MANN+HUMMEL, Donaldson, Parker, and MAHLE. The rest of the market is highly fragmented and occupied by various specialized and regional players. Most of the large global players serve both first-fit and aftermarket channels, while smaller, regional players tend to focus on the aftermarket. The filtration market offers a unique multi-channel path to market, and diversification across first-fit, OEM service, and aftermarket. The recurring revenue model and mission-critical role of filters drive consistent demand across regions and end markets.

Principal methods of competition in the filtration markets are product quality and performance, price, geographic and application coverage, availability, customer service, ease of doing business and brand reputation. We believe we are a market leader within many of our product lines, including filters in our on-highway and off-highway markets, and that our success in the market is due to our technology, our iconic Fleetguard brand, our global footprint, strong customer relationships, and the talent within our organization.

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#### Human Capital Resources
As of December 31, 2022, we employed approximately 4,250 persons worldwide. Also as of December 31, 2022, approximately 55% of our employees worldwide were represented by various unions, particularly in Mexico, France and Tennessee, subject to collective bargaining agreements. These agreements are subject to expiration between 2023 and 2025.

Throughout our company's 60-year history, we have always recognized that people are the strength of our business and drive our ability to effectively serve our customers and sustain our competitive position. We believe that the composition of our workforce gives us advantages relating to cost and capability when compared to our peers. The global COVID-19 pandemic redefined the way we have traditionally worked and created both new expectations by employees, as well as new ways to work flexibly and seamlessly on a global basis. We are embracing these opportunities as we simplify our organizational structures and processes, further empower managers and employees to make decisions and generate positive results, increase employee communication and interaction with senior-leadership and enhance a work environment that is inclusive, transparent, agile and team-oriented.

#### Purpose and Core Values
 **We are a purpose-driven company. Our purpose is 'Creating a better future by protecting what is important.' We create and innovate every day. With a forward focus, we never sit still. We realize the world is bigger than us, and we aspire for a better future for our shared humanity. Our products protect our customers equipment and their livelihoods. We protect what's important to our people, our planet, and our customers.** 

Our culture is shaped by our core values:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • **Build Trust** in every relationship every day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • **Have Courage** to speak up, take action and shape the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • **Be Inclusive** by embracing our differences and building a community where everyone feels valued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • **Show Caring** by engaging with kindness and consideration for the wellbeing of others.

#### Leadership and Talent Management
The capability of our people and our ability to work effectively in agile teams will be a primary enabler of our success. We strive to create a leadership culture that is authentic, transparent and approachable. By minimizing organizational layers, simplifying our organizational structure and process, we empower our employees to have an increased impact on our results. Our leaders are tasked with providing their employees with the support, development and encouragement needed to be successful. Further, our leaders connect our people and their work to our purpose, values, brand promise and strategies. We will continue to invest in leadership development. We will maintain the emphasis that the primary role of leaders at all levels is to focus on people development, supporting the unique needs of each employee in reaching their greatest positive impact at work, in the community and at home.

Our talent management approach seeks to develop the skills and capabilities of a diverse, global workforce and utilize our talent to deliver excellent results. We will advance and invest in our people based on strong performance, demonstration of core values in how work is accomplished and the individual motivation to have a larger impact on organization results.

#### Competitive Pay and Benefits
To attract and retain the best employees, we maintain a positive work environment that is grounded in our core values, a leadership culture that supports the development of our people and competitive pay and benefits.

When designing our base pay compensation ranges, we complete market analyses to maintain pay ranges that are current and related to the work we perform. We also complete annual compensation

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studies to assess market movement for key skills as well as internal pay equity. We incorporate living wage assessment into our annual compensation reviews to ensure that current and new hires are not below this threshold. Collectively, our global wage assessments seek to ensure we are fair, equitable and competitive in our ability to attract and retain the best talent. Everywhere possible, individual performance is the primary path for our employees to advance their earning potential. In addition, all employees also participate in annual variable compensation plans that encourage collaboration in the achievement of overall business results.

Our benefit programs are aligned with our values, target market competitiveness and offer flexibility to meet individual needs. Medical benefits include tiered health care costs that are more affordable to junior employees. Also included in our offerings are employee assistance programs, vacation time, retirement and savings plans and a variety of paid and unpaid time-off options that seek to address personal needs and important life-events.

#### Employee Safety and Wellness
We are committed to being world-class in health and safety. We strive to ensure a workplace with zero incidents. We are committed to removing conditions that cause personal injury or occupational illness and we make decisions and promote behaviors that protect others from risk of injury.

Our response to the COVID-19 global pandemic illustrated our commitment to safety. To support both our customers and communities, we made keeping employees safe our top priority. Most of our employees who can work from home have been doing so since the outbreak of the pandemic and we have provided them with the tools and support to do so. This allowed us to focus resources and investments on our engineering and production facilities. In those facilities, we took many steps to protect the health and safety of our people, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Mandatory health screenings at our plants and facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Personal protective equipment for frontline employees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Masks required (based on risk level) inside open plants and facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Redesigned exits, entrances and production lines to encourage social distancing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Enhanced cleaning protocols before, during and after shifts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Expanded healthcare, wellness and leave programs to support employees and their families; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Manufacturing our own face masks to provide to our employees free of charge.

We continue to monitor the risk associated with COVID-19 and adjust our requirements to ensure the health and well-being of our employees.

#### Diversity, Equity and Inclusion
Diversity, equity and inclusion at all levels of our company are critical to our ability to innovate, win in the marketplace and create sustainable success. Having diverse, equitable and inclusive workplaces allows us to attract and retain the best employees to deliver results for our shareholders. Building on a long history that has emphasized diversity, equity and inclusion, we will continue to seek opportunities and invest in processes that attract, develop and retain diverse talent, globally. We will measure outcomes and ensure that all employees can benefit from being a part of our organization. This starts by assuring that the leadership of our company is diverse. At this time, five out of our 11 directors are female and four out of our 11 directors are ethnically diverse. In addition, 33% of our executive team is female, including our Chief Executive Officer, and 22% is ethnically diverse. We disclose publicly the percentage of women in supervisory roles and the overall workforce.

#### Environmental Sustainability
 **We are committed to 'Creating a better future by protecting what is important.' We believe environmental sustainability is central to what we do and we are dedicated to serving as an environmental** 

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steward to proactively enable a cleaner and more sustainable world for our employees, our customers and our communities.

Sustainability is a continuous journey. As part of our journey, we have embedded environmental initiatives across our organization through our policies and procedures. We establish annual goals that focus on protecting employees while continuously reducing environmental impacts through pollution prevention, energy efficiency improvements and conservation, and water minimization.

From our product portfolio choices to our production development processes, our focus is on enabling a cleaner and more sustainable world. For our customers and end-users, we continue to deliver technology solutions that enable the adoption of cleaner and more efficient energy sources in their operations. Further, our approach to product design enables customers and end-users to extend service intervals thereby reducing resource consumption and greenhouse gas emissions. In our product development processes, our intent is to select design and production strategies that enable energy conservation. This includes initiatives to reduce raw material and energy consumption, such as the selection of recycled materials in our media and the use of specialized media in some of our products to eliminate the need for curing ovens.

Our operations and facility management programs consistently look for opportunities to reduce our impact. We also voluntarily execute global environmental sustainability initiatives, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Implementing green energy alternatives, including installing solar panels at manufacturing sites, including San Luis Potosi, Mexico.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Monitoring water consumption at our sites, setting reduction goals, and implementing water sustainability alternatives, including a rainwater harvest program for our desert garden in San Luis Potosi plant to reduce water use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Implementing energy efficiency improvements at our facilities, including boilers in our Cookeville, TN plant and energy efficient air handling upgrades to our plant in Neillsville, WI.

#### Properties
Our corporate headquarters are located in Nashville, Tennessee. We also have 12 distribution centers (as of December 31, 2022) that are shared with Cummins. We also have global administrative, engineering and research facilities around the world, including in the United States, China and India. Our manufacturing and distribution activities are located throughout the world and we consider our properties to be suitable for their present purposes, well-maintained and in good operating condition.

Our headquarters and principal facilities are as follows:

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| | | |
|:---|:---|:---|
| Facility Type  | U.S. Facilities  | Facilities Outside the U.S.  |
| **Headquarters**  | **Tennessee**: Nashville (30,500 square feet), leased. |  |
| **Manufacturing**  | **Wisconsin**: Neillsville (166,000 square feet), owned. | **Australia**: Kilsyth (129,000 square feet), leased. <br> **Brazil**: São Paulo (76,000 square feet), leased. <br> **China**: Shanghai (109,000 square feet), leased. <br> **Mexico**: San Luis Potosi (472,000 square feet), leased. <br> **South Africa**: Johannesburg (30,200 square feet), leased.  |
|  |  | **South Korea**: Suwon (64,000 square feet), owned. |

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| | | |
|:---|:---|:---|
| Facility Type  | U.S. Facilities  | Facilities Outside the U.S.  |
| **Technology**  | **Wisconsin**: Stoughton (76,000 square feet), leased. | **China**: Wuhan (4,000 square feet), leased. <br> **India:** Pune (20,000 square feet), leased.  |
| **Manufacturing and technology**  | **Tennessee:** Cookeville (385,000 square feet), leased. | **France:** Quimper (98,000 square feet), owned. |

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#### Joint Ventures
We have entered into three joint ventures with business partners, two in India, and one in China. Our joint ventures operate either manufacturing facilities or manufacturing and technology centers.

Our manufacturing joint ventures are primarily intended to allow us to increase our market penetration in geographic regions, reduce capital spending, streamline our supply chain management and develop technologies. Our largest manufacturing joint ventures are based in China and India, and are included in the list below. The results and investments in our joint ventures in which we have 50% or less ownership interest that are discussed below are not consolidated in our financial results and are instead included in "Equity, royalty and interest income from investees" and "Investments and advances related to equity method investees" in our consolidated statements of net income and consolidated balance sheets, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • **Fleetguard Filters Private Ltd. (FFPL)** is a joint venture with our partner, Perfect Sealing Systems Private Ltd., that manufactures and sells industrial filters and coolant for commercial vehicles and generators and operates seven manufacturing facilities throughout India. We directly held 49.491% of the economic interest and 50% of the voting interest during the three-year period ended December 31, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • **Filtrum Fibretechnologies Pvt. Ltd. (Filtrum)** is a joint venture with our joint venture partner, FFPL, and four other individuals (who hold approximately 25% interest), that manufactures filter media for automotive and industrial applications, and is located in Pune, India. We held a 49.75% economic interest (25% directly and 24.75% indirectly through our proportionate ownership of FFPL's 50% ownership interest) during the three-year period ended December 31, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • **Shanghai Fleetguard Filter Co, Ltd. (SFG)** is a joint venture with our partner, Dongfeng Electronic Technology Co. Ltd., that manufactures and distributes various filter and filter spare parts, and operates three manufacturing facilities throughout China. We have a 50% indirect ownership share during the three-year period ended December 31, 2022.

Cummins will lose control of us as a result of the transactions to implement this offering, the separation, and the distribution, which will cause a change in control under the governing documents of our joint venture in India (FFPL), resulting in the loss of rights to board representation. This would effectively result in the loss of the ability to prevent certain significant actions and may result in a reduction or elimination of dividends. See *"Risk Factors — Risks Related to our Business Operations*."

Our joint venture facilities are as follows:

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **China: Wuhan (206,000 square feet), owned**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **China: Shiyan (47,000 square feet), owned**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **India: Dharwad (157,000 square feet), owned**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **India: Hosur (90,000 square feet), owned**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **India: Jamshedpur (26,500 square feet), owned, (21,000 square feet), leased**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **India: Sitarganj (87,500 square feet), owned**  |

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **India: Loni (173,000 square feet), leased**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **India: Wadki (63,000 square feet), leased**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing and technology**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **China: Shanghai (148,000 square feet), leased**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **India: Nandur (97,000 square feet), owned, (33,000 square feet), leased**  |

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Financial information about our investments in joint ventures and alliances is incorporated by reference from Note 5, "Investments in Equity Investees," to our historical combined financial statements.

We will continue to evaluate joint venture and partnership opportunities in order to penetrate new markets, develop new products and generate manufacturing and operational efficiencies.

#### Regulatory Matters
We face extensive government regulation both within and outside the United States relating to the development, manufacture, marketing, sale and distribution of our products, including regulations relating to data privacy, trade compliance, anti-corruption and anti-bribery. These are not the only regulations that our businesses must comply with. For a description of risks related to the regulations that our businesses are subject to, please refer to the section entitled "Risks Related to Government Regulation."

#### Legal Proceedings
We are, from time to time, subject to a variety of litigation and other legal and regulatory proceedings and claims incidental to our business. Please refer to Note 13 to the combined financial statements appearing elsewhere in this prospectus for more information.

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#### MANAGEMENT

#### Executive Officers
The following table sets forth information, as of the date of this prospectus, regarding the individuals whom we expect to serve as our executive officers immediately prior to the completion of this offering, followed by a biography of each executive officer.

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| | | |
|:---|:---|:---|
| Name  | Age  | Position  |
| Steph Disher  | 47 | Chief Executive Officer |
| Jack Kienzler  | 37 | Chief Financial Officer |
| Mark Osowick  | 56 | Chief Human Resources Officer |
| Toni Y. Hickey  | 49 | Chief Legal Officer and Corporate Secretary  |
| Charles Masters  | 51 | Vice President, Engine Products |

---

*Steph Disher* currently serves as our Chief Executive Officer. Ms. Disher previously served as Vice President of Cummins Filtration Inc. Prior to that role, Ms. Disher served in various leadership roles since joining Cummins in 2013, including as Operations Director and Managing Director for Cummins in the South Pacific region. Ms. Disher holds a bachelor's degree in Commerce from the University of Western Sydney and a Master of Business Administration from the University of Melbourne.

*Jack Kienzler* currently serves as our Chief Financial Officer. Mr. Kienzler previously oversaw the financial activities of Cummins Filtration Inc. as its Chief Financial Officer. Mr. Kienzler served in various leadership roles since joining Cummins in 2014. Mr. Kienzler holds a Bachelor of Science in Finance and Accounting from Indiana University and a Master of Business Administration from the Indiana University Kelley School of Business.

*Mark Osowick* currently serves as our Chief Human Resources Officer. Mr. Osowick previously oversaw the human resources operational activities of Cummins Filtration Inc. as its Vice President, Human Resources. Prior to that role, Mr. Osowick served in various senior human resources leadership positions during his 30 year career with Cummins, including serving as Cummins Vice President of Human Resources Operations from 2014 – 2021 and as a member of the Cummins Leadership Team. Mr. Osowick holds a Master of Industrial and Labor Relations from Cornell University and a Bachelor of Arts in Economics from Franklin and Marshall College.

*Toni Y. Hickey* currently serves as our Chief Legal Officer and Corporate Secretary. Ms. Hickey previously served as General Counsel of Cummins Filtration Inc., after serving as Deputy General Counsel and Chief Intellectual Property Counsel for Cummins from May 2015 to August 2021. Ms. Hickey has a Bachelor of Science in Finance and Accounting from the University of Colorado — Boulder, and a Juris Doctorate from Southern Methodist University School of Law.

*Charles Masters* currently serves as our Vice President, Engine Products and previously served as Executive Director of Global Sales and Marketing of Cummins Filtration Inc. Prior to that role, Mr. Masters served in various leadership roles since joining Cummins in 2003, including as General Manager of Eaton Cummins Automated Transmission Technologies JV from 2018 to 2021 and as President of Cummins Western Canada from 2016 to 2018. Mr. Masters holds a Bachelor of Commerce from the University of Alberta and a Master of Business Administration from Harvard Business School.

#### Directors
The following table sets forth information, as of the date of this prospectus, regarding the individuals whom we expect to serve as directors immediately prior to the closing of this offering, followed by a biography of each such individual.

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| | | | |
|:---|:---|:---|:---|
| Name  | Age  | Term <br> Expires  | Position  |
| Sharon Barner  | 65 | 2024 | Director |
| R. Edwin Bennett  | 61 | 2025 | Director |
| Cristina Burrola  | 49 | 2025 | Director |
| Steph Disher  | 47 | 2026 | Director |
| Gretchen Haggerty  | 67 | 2024 | Director |
| Jane Leipold  | 61 | 2024 | Director |
| Stephen Macadam  | 62 | 2025 | Director |
| Earl Newsome  | 60 | 2026 | Director |
| Tony Satterthwaite  | 62 | 2026 | Director |
| Mark Smith  | 54 | 2024 | Director |
| Nathan Stoner  | 45 | 2026 | Director |

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*Sharon Barner* has served as our director since 2022. Ms. Barner is currently Vice President, Chief Administrative Officer and Corporate Secretary of Cummins. She previously served as Vice President, General Counsel and Corporate Secretary of Cummins from 2012 to March 2021. Prior to joining Cummins, from 2009 to 2011, Ms. Barner served as Deputy Under Secretary of Commerce for Intellectual Property and Deputy Director of the United States Patent and Trademark Office, where she was responsible for patent and trademark operations. Ms. Barner spent the majority of her career in private practice, having led the global intellectual property divisions of a global law firm. Ms. Barner holds a Bachelor of Science in Psychology from Syracuse University and a Juris Doctorate from the University of Michigan School of Law.

We believe that Ms. Barner's extensive knowledge of our industry and business as well as her experience in the legal industry, and experience serving on another publicly listed company board, provide her with the qualifications and skills to serve as a member of our Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *R. Edwin Bennett* has served as our director since 2022. Mr. Bennett retired from Ernst & Young ("EY") in September 2021 after a 38-year career as a professional services partner and senior business leader. Mr. Bennett served in many senior leadership roles at EY, most recently as the Vice Chair — Operations and Chief Operating Officer from 2015 through 2021. Prior to that role, Mr. Bennett served as EY's Deputy Vice Chair and Chief Operating Officer — Consulting Services. Mr. Bennett serves as a strategic advisor to ServiceNow and is a member of its Americas Advisory Council, which is focused on enhancing customer experiences, driving business value and accelerating transformation. Mr. Bennett earned his Bachelor of Science in accounting from the University of Georgia and is a Certified Public Accountant. Mr. Bennett also completed the Executive Leadership Program at the Kellogg School of Management and the Global Executive Leadership Program at Harvard Business School.

We believe that Mr. Bennett's track record of successfully leading global operations of one of the world's largest consulting organizations, his deep accounting and cyber acumen and experience advising other public companies qualify him to serve as a member of our Board.

*Cristina Burrola* has served as our director since 2022. Ms. Burrola is currently Vice President — Latin America Area Business Office (ABO) of Cummins. She previously served as Supply Chain Executive Director for the Latin America ABO, where she managed a regional organization of more than 6,000 employees across 16 countries. Prior to this, Ms. Burrola served as Corporate Strategy Director for Cummins' mergers and acquisitions group, where she led the full integration of Cummins in four acquisitions worth $1.2 billion of sales in the Distribution Business. In addition, Ms. Burrola served as Global Engineering Services Director and Global Cost Reduction Director for the Atmus business. Ms. Burrola earned her Master of Business Administration from the Kellogg School of Management at Northwestern University in 2010 and holds a Master of Science in Engineering from Tecnologico de Monterrey and a Bachelor of Science in Electronics and Industrial Engineering from Tecnologico de Chihuahua in Mexico.

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We believe that Ms. Burrola's extensive global business experience and knowledge of our industry provide her with the qualifications and skills to serve as a member of our Board.

*Steph Disher* has served as our director since 2022. Ms. Disher's biography is set forth under the section entitled ''*Executive Officers*.''

We believe that Ms. Disher's extensive knowledge of our industry and business as well as her leadership experience provide her with the qualifications and skills to serve as a member of our Board.

*Gretchen Haggerty* has served as our director since 2022. Ms. Haggerty retired in August 2013 after a 37-year career with United States Steel Corporation, and its predecessor, USX Corporation, which, in addition to steel production, also managed and supervised energy operations, principally through Marathon Oil Corporation. From March 2003 until her retirement, she served as Executive Vice President & Chief Financial Officer and also served as Chairman of the U.S. Steel & Carnegie Pension Fund and its Investment Committee. Earlier, she served in various financial executive positions at U.S. Steel Corporation and USX Corporation, beginning in November 1991 when she became Vice President and Treasurer. Ms. Haggerty has served as a director of Teleflex Incorporated (NYSE: TFX), a global provider of medical technology products, since 2016 and currently serves as a member of the audit committee. Ms. Haggerty has also served as a director of Johnson Controls International plc, since March 2018, where she serves as chair of the audit committee. She is a former director of USG Corporation, a leading manufacturer of building materials. Ms. Haggerty earned her Bachelor of Science in Accounting from Case Western Reserve University and her Juris Doctorate from Duquesne University School of Law.

We believe that Ms. Haggerty's decades of senior leadership experience, deep financial acumen as a Chief Financial Officer, experience serving on the board of directors of multiple international companies, significant knowledge of the global marketplace gained from her business experience and background and experience leading global teams qualify her to serve as a member of our Board.

*Jane Leipold* has served as our director since 2022. Ms. Leipold is an accomplished global business executive and consultant, with a variety of experiences in engineering, operations and human resources. With over twenty years of human resources leadership experience, Ms. Leipold started a consulting business, JAL Executive HR Consulting, LLC, in 2017, where she provides a wide breadth of executive HR consulting services on an interim or project basis. From 2006 through 2016, Ms. Leipold served as Senior Vice President & Chief Human Resources Officer for TE Connectivity, a publicly traded manufacturer of connectors and sensors. Previously, she was Vice President of HR at Tyco Electronics, in addition to other roles in the human resources department. Ms. Leipold holds a Bachelor of Science in Quantitative Business Analysis and a Master of Business Administration from Pennsylvania State University. In 2013, Ms. Leipold was recognized for her outstanding professional accomplishments and named an Alumni Fellow, the highest award given by the Penn State Alumni Association.

We believe that Ms. Leipold's extensive global human resources experience and knowledge of our industry provide her with the qualifications and skills to serve as a member of our Board.

*Stephen Macadam* has served as our director since 2022. Mr. Macadam served as Vice Chairman of EnPro Industries, Inc., a diversified manufacturer of industrial products, from August 2019 to February 2020. From April 2008 until his retirement in July 2019, he served as Chief Executive Officer and President of EnPro. From October 2005 to March 2008, he was Chief Executive Officer of BlueLinx Inc., the largest building products distribution company in North America at that time. From August 2001 to September 2005, he served as President and CEO of Consolidated Container Company, LLC. Prior to that position, Mr. Macadam held senior leadership positions at Georgia-Pacific Corporation and was a partner at McKinsey & Company. Mr. Macadam has served as a director of Louisiana-Pacific Corp. (NYSE: LPX) since February 2019, where he's the chair of the compensation committee and a member of the governance and corporate responsibility committee, and Veritiv Corporation (NYSE: VRTV) since February 2020 and as Veritiv's chairman of the board since September 2020. From 2016 until January 2023, Mr. Macadam served as a director of Valvoline Inc. (NYSE: VVV), where he was a member of the compensation committee and the governance and nominating committee. Previously, Mr. Macadam also served as a director of EnPro Industries (NYSE: NPO) from 2008 to February 2020. Mr.

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Macadam holds a Bachelor of Science in mechanical engineering from the University of Kentucky, a Master of Science in finance from Boston College and a Master of Business Administration from Harvard Business School, where he was a Baker Scholar.

We believe that Mr. Macadam's significant experience and knowledge in the areas of executive leadership, international operations, mergers and acquisitions, business re-orientation, industrial products manufacturing, product distribution and procurement, and finance and accounting provide him with the qualifications and skills to serve as a director on our Board. He also brings significant experience gained from service on the board of directors of other publicly-traded companies.

*Earl Newsome* has served as our director since 2022. Mr. Newsome is Vice President and Chief Information Officer of Cummins. Mr. Newsome joined Cummins after five years at Linde, leading the organization as the Americas IT CIO. Mr. Newsome is a skilled strategic leader with over 30 years of global IT leadership experience and a strong vision for leading IT and digital transformations for global companies. Mr. Newsome began his career serving in the U.S. Army after graduating from the United States Military Academy in West Point, New York, with a bachelor's degree in Computer Science. Following his military service, Mr. Newsome has dedicated his career to leading IT development and initiatives across several industries, including his time as Vice President of Global Shared Services and Chief Technology Officer at The Estée Lauder Companies Inc. Mr. Newsome also led IT transformations and digital innovation for core business growth at TE Connectivity as the Corporate Chief Information Officer and Vice President, Digital.

We believe that Mr. Newsome's extensive knowledge of IT and cybersecurity, global business experience and knowledge of our industry, and experience serving on another publicly listed company board, provide him with the qualifications and skills to serve as a member of our Board.

*Tony Satterthwaite* has served as our director since 2022. Mr. Satterthwaite has been the Senior Vice President of Cummins since August 2022. Mr. Satterthwaite has held leadership positions within Cummins since 1988, including as President of Power Generation, President of the Distribution Business and most recently as Senior Vice President of Cummins. He has served as a director of IDEX Corporation (NYSE: IEX) since 2011, where he is a member of the compensation committee and the nominating and corporate governance committee. Mr. Satterthwaite holds a Bachelor of Science in Civil Engineering from Cornell University and a Master of Business Administration from Stanford University.

We believe that Mr. Satterthwaite's extensive knowledge of our industry and business as well as his leadership experience, and experience serving on another publicly listed company board, provide him with the qualifications and skills to serve as a member of our Board.

*Mark Smith* has served as our director since 2022. Mr. Smith has been the Vice President and Chief Financial Officer of Cummins since 2019. He previously served in a variety of finance and business strategy roles within Cummins beginning in 1995, including Vice President, Financial Operations and Vice President, Investor Relations. Mr. Smith holds a Bachelor of Arts in Economics from the University of Kent and a Master of Business Administration from the Kellogg School of Management at Northwestern University.

We believe that Mr. Smith's extensive knowledge of our industry and business as well as his experience as Chief Financial Officer of a publicy traded company, and broad experience in corporate finance provide him with the qualifications and skills to serve as a member of our Board.

*Nathan Stoner* has served as our director since 2022. Mr. Stoner is Vice President — China Area Business Officer of Cummins, with regional responsibility across Cummins' business portfolio in China — including Engine, Components, Power Systems, Distribution, and New Power business units. Prior to his current role, Mr. Stoner served as General Manager of Engine JVs & Partnerships, General Manager of Power Systems China, Executive Director of Global Corporate Development and the Partnership Director of Dongfeng Motors at Cummins. Prior to working at Cummins, Mr. Stoner worked in a variety of entrepreneurial, general management, and User Experience design (i.e. UX/UI designer) roles. He was the founder and General Manager of Sino Universal Ltd., a design and manufacturing firm located in China, setting up and overseeing all aspects of the company's production business and facilities. He currently serves on the Board of Directors of ten joint venture companies and is also the

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Chairman of the Board of Trustees for Education for Ethiopia, an EdTech not-for-profit organization. Mr. Stoner received his bachelor's degrees in Architecture and Mechanical Engineering from Yale University and his Master of Business Administration from Yale School of Management.

We believe that Mr. Stoner's extensive business experience and knowledge of corporate strategy, including global operations and markets, provide him with the qualifications and skills to serve as a member of our Board.

#### Board of Directors
The board of directors exercises oversight over our business and affairs. Our amended and restated certificate of incorporation and amended and restated bylaws provide that the number of directors shall be fixed by resolution of our board of directors from time to time. Currently, our board of directors comprises eleven directors.

#### Director Independence and Controlled Company Exemption
We intend to avail ourselves of the "controlled company" exemption under the corporate governance rules of the NYSE. Accordingly, we will not be required to have a majority of "independent directors" on our board of directors as defined under the rules of the NYSE, nor will we be required to have a talent management and compensation committee and corporate governance and nominating committee composed entirely of independent directors. The "controlled company" exemption does not modify the independence requirements for the audit committee, and we intend to comply with the requirements of the Sarbanes-Oxley Act and the NYSE, which require that our audit committee be composed of at least three members, one of whom will be independent upon the listing of our common stock, a majority of whom will be independent within 90 days of listing, and all of whom will be independent within one year of listing. The audit committee is currently majority independent.

At such time that we cease to be a "controlled company" under the rules of the NYSE, our board of directors will take all action necessary to comply with the NYSE corporate governance rules, including appointing a majority of independent directors to the board of directors and establishing certain committees composed entirely of independent directors, in each case subject to permitted "phase-in" periods.

Our board of directors has determined that R. Edwin Bennett, Gretchen Haggerty, Jane Leipold and Stephen Macadam are independent directors under the applicable rules of the NYSE. The board of directors will assess on a regular basis, and at least annually, the independence of our directors and, based on the recommendation of the governance and nominating committee, will make a determination as to which members are independent.

#### Board Composition
Our directors are divided into three classes serving staggered three-year terms. Upon expiration of the term of a class of directors, directors in that class will be eligible to be elected for a new three-year term at the annual meeting of stockholders in the year in which their term expires. As a result of this classification of directors, it generally takes at least two annual meetings of stockholders to effect a change in a majority of the members of our board of directors.

Sharon Barner, Gretchen Haggerty, Jane Leipold and Mark Smith currently serve as Class I directors and will serve until our annual meeting of stockholders in 2024. R. Edwin Bennett, Cristina Burrola, and Stephen Macadam currently serve as Class II directors and will serve until our annual meeting of stockholders in 2025. Steph Disher, Earl Newsome, Tony Satterthwaite, and Nathan Stoner currently serve as Class III directors and will serve until our annual meeting of stockholders in 2026.

Until the distribution (if pursued), Cummins may designate individuals for nomination to our board of directors up to a majority of the members of our board of directors, and Cummins may designate the chairperson of our board of directors. As long as Cummins owns shares of our common stock representing, in the aggregate, at least ten percent (10%) of the total voting power of the then outstanding shares of our common stock, Cummins may designate for nomination by our board of directors (or

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any nominating committee thereof) for election to our board of directors up to a proportionate number of designated individuals to our board of directors. From and after the distribution (if pursued), our board of directors may not include more than one director that concurrently serves on the Cummins Board or is also a member of Cummins' senior management team, and such director may represent no more than a minority share of the overall composition of either the Cummins Board or our board of directors.

#### Family Relationships
There are no family relationships among any of our directors or executive officers.

#### Board Leadership Structure
Our corporate governance principles describe in detail how our board of directors must conduct its oversight responsibilities in representing and protecting our company's stakeholders. As stated in the principles, our board of directors has the freedom to decide who our chair and chief executive officer should be based solely on what it believes is in the best interests of our company and its stockholders. Currently, our board of directors believes it is in the best interests of our company for the roles of our chair and chief executive officer to be separate.

Our board of directors evaluates its policy on whether the roles of our chairperson and chief executive officer should be combined on an annual basis. In doing so, our board of directors considers the skills, experiences and qualifications of our then-serving directors (including any newly-elected directors), the evolving needs of our company, how well our leadership structure is functioning, and the views of our stockholders.

#### Board Committees
Our board of directors has a standing audit committee, talent management and compensation committee and nominating and governance committee. Members serve on these committees until their resignations or until otherwise determined by our board of directors. Each committee operates under a charter.

The committee charters are described below and will be available on our website upon completion of this offering.

***Audit Committee***. The primary purposes of our audit committee are to assist our board of directors' oversight of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the integrity of our financial statements and any other financial information which will be provided to the stockholders and others;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • hiring, monitoring and replacing our independent auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the independent auditor's qualifications and independence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the systems of internal control and disclosure controls which management has established;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the performance of internal and independent audit functions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • our compliance with legal and regulatory requirements.

The members of the audit committee are R. Edwin Bennett, Gretchen Haggerty and Mark Smith. Gretchen Haggerty currently serves as chair of the audit committee. Gretchen Haggerty qualifies as an "audit committee financial expert" as such term has been defined by the SEC in Item 407(d) of Regulation S-K. Our board of directors has affirmatively determined that Gretchen Haggerty and R. Edwin Bennett meet the definition of an "independent director" for the purposes of serving on the audit committee under applicable NYSE rules and Rule 10A-3 under the Exchange Act. We intend to comply with these independence requirements for all members of the audit committee within the time periods specified under SEC rules. The audit committee is governed by a charter that complies with the rules of the NYSE.

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***Talent Management and Compensation Committee (the "TMCC")***. The primary purposes of our TMCC will be to assist our board of directors in overseeing our management compensation policies and practices, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • determining and approving the compensation of our executive officers, including our CEO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • oversight of our compensation plans, including by reviewing and approving incentive compensation and equity compensation policies and programs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • review and oversight of the company's strategies for talent management; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • assessing talent management policies, programs and processes, including leadership, culture, diversity and inclusion and succession.

The members of the TMCC are Sharon Barner, Jane Leipold, Stephen Macadam and Tony Satterthwaite. Jane Leipold currently serves as chair. Our board of directors has affirmatively determined that each of Jane Leipold and Stephen Macadam qualify as a "non-employee director" under Rule 16b-3 of the Exchange Act.

We intend to avail ourselves of the "controlled company" exemption under the rules of the NYSE, which exempts us from the requirement that we have a compensation committee composed entirely of independent directors. The TMCC is governed by a charter that complies with the rules of the NYSE.

***Governance and Nominating Committee***. The primary purposes of our governance and nominating committee will be to assist our board of directors by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • identifying qualified individuals to become a member of the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • determining the composition of the board of directors and its committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • assessing the annual performance of our CEO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • monitoring a process to assess effectiveness of the board of directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • developing and implementing our corporate governance principles.

The members of the governance and nominating committee are Sharon Barner, R. Edwin Bennett, Cristina Burrola, Gretchen Haggerty, Jane Leipold, Stephen Macadam, Earl Newsome, Tony Satterthwaite, Mark Smith and Nathan Stoner. Stephen Macadam currently serves as chair of the governance and nominating committee. Our board of directors has affirmatively determined that each of R. Edwin Bennett, Gretchen Haggerty, Jane Leipold and Stephen Macadam qualify as "independent" under the rules of the NYSE. We intend to avail ourselves of the "controlled company" exemption under the rules of the NYSE, which exempts us from the requirement that we have a governance and nominating committee composed entirely of independent directors. The governance and nominating committee is governed by a charter that complies with the rules of the NYSE.

#### Risk Oversight
Our board of directors and its committees are currently involved on an ongoing basis in the oversight of our material enterprise-related risks and, in the future, will have oversight of our risk management processes. We have established an enterprise risk management program that is intended to identify, categorize and analyze the relative severity and likelihood of the various types of material enterprise-related risks to which we are or may be subject. It is anticipated that we will establish an executive risk council to review and update our material enterprise-related risks and their mitigation plans. We assign ownership of our most significant enterprise risks to a member of our leadership team. The risk oversight process includes receiving regular reports from board committees and members of senior management to enable our board of directors to understand our risk identification, risk management, and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory, cybersecurity, strategic, and reputational risk.

Our board of directors, audit committee, TMCC, and/or governance and nominating committee receive periodic reports and information directly from our senior leaders who have functional

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responsibility over our enterprise risks. Our board of directors and/or its appropriate committees then review such information, including management's proposed mitigation strategies and plans, to monitor our progress on mitigating the risks.

#### Board Diversity
One of our core values is '*be inclusive*.' In evaluating candidates for our board of directors, our governance and nominating committee considers only potential directors who share this value, as well as our other core values. We believe that directors with different backgrounds and experiences make our boardroom and our company stronger. Although our board of directors does not have a formal written diversity policy with respect to the evaluation of director candidates, in its evaluation of director candidates, our governance and nominating committee will consider factors including, without limitation, issues of character, integrity, judgment, potential conflicts of interest, other commitments, and diversity, and with respect to diversity, such factors as gender, race, ethnicity, experience, and area of expertise, as well as other individual qualities and attributes that contribute to the total diversity of viewpoints and experience represented on the board of directors. Additionally, as reflected in our corporate governance principles, we are committed to equal employment opportunities in assembling our board of directors. Our governance and nominating committee is responsible for reviewing with the board of directors, on an annual basis, the appropriate characteristics, skills and experience required for the board of directors as a whole and its individual members. We believe our board of directors has been effective in assembling a highly-qualified, diverse group of directors, consisting of five female directors and four ethnically diverse directors. We will continue to identify opportunities to enhance our board diversity as we consider future candidates.

#### Limitations on Liability, Indemnification of Directors and Officers and Insurance
The DGCL authorizes corporations to limit or eliminate the personal liability of directors and officers to corporations and their stockholders for monetary damages for breaches of fiduciary duties as directors or officers, as applicable, and our amended and restated certificate of incorporation include such an exculpation provision. Our amended and restated certificate of incorporation and bylaws include provisions that indemnify, to the fullest extent allowable under the DGCL, the personal liability of directors or officers for monetary damages for actions taken as our director or officer, or for serving at our request as a director or officer or another position at another corporation or enterprise, as the case may be. Our amended and restated certificate of incorporation and bylaws also provide that we must indemnify and advance reasonable expenses to our directors and officers.

The limitation of liability and indemnification provisions in our amended and restated certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against our directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders. However, these provisions will not limit or eliminate our rights, or those of any stockholder, to seek non-monetary relief such as injunction or rescission in the event of a breach of a director's or officer's duty of care. The provisions will not alter the liability of directors or officers under the federal securities laws. In addition, your investment may be adversely affected to the extent that, in a class action or direct suit, we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. There is currently no pending material litigation or proceeding against us or any of our directors, officers or employees for which indemnification is sought.

#### Code of Business Conduct
Our code of business conduct is applicable to all of our directors, and officers (including our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions). A copy of the code will be available on our website located at Atmus.com upon completion of this offering. Any amendments to or waivers from our code of business conduct will be disclosed on our website promptly following the date of such amendment or waiver.

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#### Corporate Governance Principles
Our corporate governance principles, adopted by our board of directors in accordance with the corporate governance rules of the NYSE, serve as a flexible framework within which our board of directors and its committees will operate. These principles cover a number of areas, including the role of the board of directors, board composition, director independence, director selection, qualification and election, director compensation, executive sessions, key board responsibilities, CEO evaluation, succession planning, risk management, board leadership and operations, conflicts of interest, annual board assessments, board committees, director orientation and continuing education, board agenda, materials, information and presentations, director access to management and independent advisers and board communication with stockholders and others. A copy of our corporate governance principles will be available on our website upon completion of this offering.

#### Compensation Committee Interlocks and Insider Participation
We do not have any interlocking relationships between any member of our talent management and compensation committee and any of our executive officers that would require disclosure under the applicable rules promulgated under the federal securities laws.

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#### EXECUTIVE AND DIRECTOR COMPENSATION

#### Compensation Discussion and Analysis
Immediately prior to this offering, we will be a wholly-owned subsidiary of Cummins. For purposes of this prospectus, our executive officers whose compensation is discussed in this Compensation Discussion and Analysis and to whom we refer as our Named Executive Officers, or "NEOs," are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Steph Disher, Chief Executive Officer and a member of our Board of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Jack Kienzler, Chief Financial Officer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Mark Osowick, Chief Human Resources Officer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Toni Y. Hickey, Chief Legal Officer and Corporate Secretary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Charles Masters, Vice President, Engine Products

Decisions regarding past compensation of our NEOs have been made by their managers and according to compensation governance processes within Cummins.

This Compensation Discussion and Analysis reviews Cummins' 2022 compensation programs, objectives and design framework, the process for determining 2022 compensation for our NEOs and how our future compensation programs, objectives and design framework are expected to operate within the new company. Although this Compensation Discussion and Analysis focuses on 2022 as the most recently completed fiscal year, as required by the SEC's regulations, it also discusses 2023 compensation decisions for our NEOs to the extent material to an understanding of our executive compensation philosophy and programs.

The Talent Management and Compensation Committee of Cummins' Board of Directors is responsible for determining and approving the compensation of Cummins' executive officers and accordingly, it approved the 2022 compensation for Steph Disher and Mark Osowick, both of whom are Cummins executive officers. The 2022 compensation for our other NEOs was determined and approved by Cummins management. Our Board of Directors has formed its own TMCC and it will be responsible for our compensation programs, objectives and framework following the completion of this offering.

#### Cummins' Practice
Cummins' long-term success depends on its ability to attract, motivate, focus, and retain highly talented individuals committed to Cummins' vision, strategy and corporate culture. To that end, Cummins' executive compensation program is designed to link executives' pay to their individual performance, to Cummins' annual and long-term performance and to the successful execution of Cummins' business strategies. Cummins' salary levels and incentive targets are intended to recognize individual performance and market pay levels. The Cummins' compensation philosophy rewards executives for achieving financial objectives and building long-term value for shareholders and other stakeholders.

#### Going Forward
The design of our compensation programs that will be in effect immediately following the completion of this offering has been approved by our TMCC. The new programs for Atmus have been designed to support the specific needs of our company. These programs, therefore, differ from Cummins' programs in certain respects.

#### Compensation Elements to Support Pay for Performance Philosophy
The Cummins' compensation program is designed to support its pay-for-performance philosophy, which aligned the interests of executives with the interests of shareholders and other stakeholders. The key elements of its executive compensation program in 2022 were:

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| | | | |
|:---|:---|:---|:---|
| Compensation Element  | Form of Payment  | Performance Metrics  | Rationale  |
| **Base salary**  | Cash | Individual Performance  | Market-based to attract and retain skilled executives. Designed to recognize scope of responsibility, individual performance and experience. |
| **Annual bonus**  | Cash | Return on Average Net Assets (ROANA) equal to EBITDA divided by average net assets for the 5 quarters preceding the fiscal year | Rewards operational performance. ROANA balances growth, profitability and asset management. |
| **Long-term incentive compensation**  | Performance shares (70%) and Performance cash (30%) | Return on Invested Capital (ROIC), weighted at 80% and Cumulative EBITDA, weighted at 20% over a three-year period | ROIC and EBITDA provide an incentive for profitable growth and generally tend to correlate well with shareholder value. |

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Cummins believes the compensation of its leaders should be based on Cummins' overall financial performance and a significant portion of their pay should be incentive-based and therefore at risk.

#### Going Forward
Following this offering, the key elements of our executive compensation program will continue to be salary, an annual bonus program, and long-term incentive compensation. However, we expect our incentive programs to differ from those of Cummins in certain respects. Our annual bonuses for 2023 will be earned based 100% on our EBITDA performance (rather than ROANA for Cummins), and our long-term incentive compensation program for 2023 will be composed of 70% performance stock units (PSUs) and 30% restricted stock units (RSUs) (rather than performance shares and performance cash for Cummins). We have adopted PSUs granted in 2023 that will be earned based 50% on our cumulative 3-year EBITDA and 50% on our 3-year average ROIC.

#### Target Executive Compensation Aligned with the Market
Cummins' TMCC reviews its executive compensation levels and programs on a regular basis. For pay levels, it generally targets the median of the market for total direct compensation and for each component of total direct compensation, including salary, annual bonus target values, and long-term incentive target values. Cummins considers target compensation to be market competitive if it is within +/- 10% of the median level indicated by the benchmarking data.

For making 2022 pay decisions, Cummins' primary compensation benchmarking sources were manufacturing companies in the Aon Hewitt Total Compensation Management Executive Survey and the Mercer Benchmark Database Survey. Cummins also considered data from its Custom Peer Group (described below) regarding pay levels for the CEO and pay program design, dilution and performance. Cummins believes this approach provides an appropriate representation of the market, and using multiple sources dampens the impact of fluctuations in market data over time.

Cummins' Custom Peer Group, identified in 2021 for making 2022 pay decisions, was made up of the 15 public companies listed below. All companies fell into at least one of the following categories: (i) customers with a strong presence in one or more of Cummins' major markets; (ii) companies that compete directly or indirectly with one or more of Cummins' businesses; (iii) key suppliers of related products; and (iv) diversified industrial companies that compete for investor capital within the industrial market.

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The Custom Peer Group companies are also similar to Cummins in size and investor profile and compete with Cummins for customers and talent.

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| | | | |
|:---|:---|:---|:---|
| Borg Warner Incorporated <br> (BWA) | Caterpillar Inc. (CAT) | Mercedes-Benz Group AG <br> (BMG)<sup>(1)</sup> | Deere & Company <br> (DE) |
| Donaldson Company Inc. <br> (DCI) | Eaton Corporation plc <br> (ETN) | Emerson Electric Co. (EMR)  | Fortive Corporation <br> (FTV) |
| Honeywell International <br> Inc. (HON) | Illinois Tool Works Inc. <br> (ITW) | PACCAR Inc. (PCAR) | Parker-Hannifin Corporation <br> (PH) |
| Textron Inc. (TXT) | Volvo AB (VLVLY) | W.W. Grainger, Inc. <br> (GWW)  |  |

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(1) Mercedes-Benz subsequently split into two companies: Daimler Truck Holding AG and Mercedes-Benz Group AG.

#### Going Forward
Cummins' TMCC, with assistance from its outside independent compensation consultant Farient Advisors ("Farient"), adopted an Atmus peer group to help inform decision-making with respect to our executive compensation program and ensure that such program supports our recruitment and retention needs and is fair and efficient. Cummins' TMCC selected companies for inclusion in this peer group considering (1) companies that trade on the major U.S. stock exchanges; (2) companies with an industrial focus; (3) companies with annual revenues of between $400 million and $4 billion; (4) companies with similar global sales exposure; and (5) companies with a similar customer type mix. Our compensation peer group going forward is initially comprised of the following companies:

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| | | | |
|:---|:---|:---|:---|
| A.O. Smith Corporation <br> (AOS)  | Chart Industries, Inc. <br> (GTLS)  | CIRCOR International, Inc. <br> (CIR)  | Donaldson Company <br> Inc. (DCI)  |
| Enerflex Ltd. (EFXT) | EnPro Industries, Inc. <br> (NPO) | ESCO Technologies Inc. <br> (ESE) | Evoqua Water <br> Technologies Corp. <br> (AQUA) |
| Flowserve Corporation <br> (FLS) | Franklin Electric Co., Inc. <br> (FELE) | Gates Industrial Corporation <br> plc (GTES) | Graco Inc. (GGG) |
| IDEX Corporation (IEX) <br> Watts Water Technologies, Inc. <br> (WTS)  | Meritor, Inc.<sup>(1)</sup> | Pentair plc (PNR) | SPX Technologies, <br> Inc. (SPX)  |

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(1) Meritor, Inc. was acquired by Cummins in 2022 and, accordingly, will not be included going forward.

Following the completion of this offering, our TMCC will review the Atmus peer group on a periodic basis and determine whether changes are appropriate based on its view of the competitive environment in which we operate.

#### How Performance Measures and Goals Are Determined
Cummins' TMCC regularly reviews all elements of Cummins' executive compensation program and makes changes as it deems appropriate. Each review includes general comparisons against market data and analysis prepared by Farient, including information on market practices in the following areas: (i) pay strategy and positioning; (ii) annual bonus plan design, including performance measures and goals and plan leverage; (iii) long-term incentive plan strategy and design, including the mix of elements, as well as performance measures and goals and plan leverage; (iv) stock ownership guidelines; (v) executive perquisites, including personal use of company aircraft; and (vi) executive benefits and protection policies, including severance practices for officers, supplemental retirement plans, deferred compensation plans and change-in-control arrangements.

Cummins' TMCC establishes performance measures and goals each year for the annual and long-term incentive plans that are designed to help achieve its business strategy and objectives.

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Cummins' TMCC also benchmarks against the historical performance of the Cummins' Custom Peer Group and considers whether Cummins' goals are sufficiently demanding relative to its peers. Additionally, Cummins' TMCC solicits Farient's assessment regarding the degree of difficulty associated with the incentive plan performance targets relative to both external analyst expectations for performance and peer performance expectations. Cummins' TMCC believes this process leads to appropriate performance targets and incentive awards that reflect the creation of shareholder value.

Cummins' TMCC has the discretion to adjust performance results that reflect significant transactions (such as acquisitions, divestitures or newly-formed joint ventures) or other unusual items (such as pension plan contributions above required levels, restructuring or significant tax legislation) if such events were not anticipated at the time performance targets were initially established.

#### Going Forward
Cummins' TMCC adopted an Atmus-exclusive performance metric and goal range for the 2023 Annual Bonus program for our participants based on actual achievement this year against our EBITDA goal as our sole performance measure, which would continue to apply for the full year upon the completion of this offering. EBITDA was selected as the metric because it is believed to be a significant driver of the value of our business, appropriately balances growth and profitability, and is well-understood by plan participants.

Further, upon completion of this offering, Cummins' TMCC will freeze the payout factors for our participants both under the Cummins' 2021-2023 and 2022-2024 long-term incentive compensation plan cycles based on Cummins' actual achievement of its ROIC and EBITDA goals from the beginning of the respective plan cycle to the time of the completion of this offering. Our TMCC intends to adopt two new long-term incentive stub cycles, running from the completion of this offering to the end of 2023 and 2024, respectively. Both of the new long-term incentive stub cycles are expected to consist of PSUs, weighted 70%, and RSUs, weighted 30%. The performance goal used for the stub cycles PSUs is expected to be our Cumulative EBITDA. Atmus's TMCC expects to use Cumulative EBITDA because it is believed to be a significant driver of value, appropriately balancing growth and profitability, and is well-understood by those participating in our long-term incentive plan. Atmus TMCC intends to approve the goal ranges associated with this measure for both of the 2021-2023 and 2022-2024 stub cycles.

#### Compensation Programs
Cummins' executive compensation program consists of three principal elements: salary, annual bonus, and long-term incentive compensation. Together, these elements constitute total direct compensation.

#### Salary
Cummins targets salary, on average, at the median of the market for similar executive positions. Some officers' salaries may vary from the median due to factors such as experience, tenure, potential, performance and internal equity. The 2022 salaries of our NEOs were initially determined by their managers, using their prior year's salary as the initial basis of consideration and taking into account personal performance in the prior year. The Cummins TMCC approved the salary for Steph Disher and Mark Osowick who are executive officers of Cummins, also considering the market value of their roles.

#### Going Forward
Atmus's TMCC has approved new 2023 annual base salaries for our NEOs in their new roles at Atmus. These salaries will become effective upon the completion of the offering. These salaries are within a competitive range for public industrial companies of our size. Mr. Kienzler, Ms. Hickey and Mr. Masters received supplemental payments for 2022 representing a portion of the difference between their salaries as in effect during 2022 and their anticipated higher salaries in connection with this offering. The payments were made to recognize the executives' enhanced scope of responsibilities and contributions during the latter part of 2022.

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Our NEOs' current salaries for 2022 (and through the offering) and their salaries following the completion of the offering are indicated below:

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| | | |
|:---|:---|:---|
| | Annual Salary  | Annual Salary  |
| Officer  | Current  | Upon Offering  |
| Steph Disher  | $500000 | $800000 |
| Jack Kienzler  | $300000 | $480000 |
| Mark Osowick  | $370000 | $370000 |
| Toni Y. Hickey  | $338541 | $416000 |
| Charles Masters  | $320159 | $417000 |

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#### Annual Bonus
Cummins' annual bonus for 2022 was designed to link participants' pay to its annual financial performance. The payout for each participant, including our NEOs, was calculated using the following formula: annual bonus was equal to each NEO's salary and other eligible earnings multiplied by each NEO's target annual bonus award as a percentage of salary multiplied by a corporate payout factor. Target awards as a percentage of salary are set such that performance at the target goal level would generate an annual bonus aligned with the median range of the market. The "payout factor" is determined based on Cummins' actual financial performance against its annual goals. Cummins used a similar design for its 2023 annual bonuses.

#### Going Forward
Atmus's TMCC has approved new target bonus opportunities for our NEOs in their new roles at Atmus upon the completion of the offering. These target bonus opportunities are within a competitive range for public industrial companies of Atmus's size.

The table below indicates our NEOs' target bonus as a percentage of salary currently and following the completion of the offering:

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| | | |
|:---|:---|:---|
| | Target Bonus as % of Salary  | Target Bonus as % of Salary  |
| Officer  | Current  | Upon Offering  |
| Steph Disher  | 60% | 100% |
| Jack Kienzler  | 30% | 60% |
| Mark Osowick  | 50% | 50% |
| Toni Y. Hickey  | 30% | 50% |
| Charles Masters  | 30% | 50% |

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#### 2022 Annual Bonus Performance Measure
Cummins' ROANA was the sole performance measure for Cummins' 2022 annual bonus plan because Cummins believes that ROANA appropriately balances growth, profitability and the management of Cummins' assets, all of which combine to drive share value.

Cummins' ROANA for compensation purposes equals earnings before interest, taxes, depreciation, and amortization (or EBITDA), divided by average net assets, where average net assets is the average of the net assets ending in the five quarters preceding Cummins' year. Net assets is derived from Cummins' consolidated balance sheet and excludes debt and related financing accounts, deferred tax amounts, and certain pension and post-retirement liability accounts.

#### ROANA Performance Targets For 2022
Setting the target with the appropriate level of difficulty underscores the importance of achieving or exceeding Cummins' annual operating plan (AOP) performance commitment. This approach requires

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increasingly difficult targets during economic upturns and realistic goals during cyclical downturns. Cummins' TMCC seeks to set a challenging yet realistic goal, incorporating previous performance as well as the forecasted opportunities and economic conditions in Cummins' markets. The 2022 ROANA goals were set with this philosophy in mind.

Cummins' target ROANA increased from 25.56% in 2021 to 32.35% in 2022. This increase was due to the AOP projections for 2022. Target ROANA was established by Cummins' TMCC after reviewing the AOP and considering input from Farient.

Cummins' target ROANA (a 100% payout factor) was the amount required to achieve Cummins' AOP. As shown below, the possible payout factors for 2022 ranged from 10% for threshold performance (70% of target ROANA) to a maximum of 200% for superior performance (115% of target ROANA or better).The payout factor changed in increments of 10% for results that fell between threshold and target, or between target and maximum.

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| | | | |
|:---|:---|:---|:---|
| | Cummins <br> ROANA <br> Goal  | Goal as <br> % of Target  | Payout as <br> % of Target<sup>(1)</sup>  |
| >Maximum  | 37.20% | 115% | 200% |
| Target  | 32.35% | 100% | 100% |
| Threshold  | 22.65% | 70% | 10% |
|  | <22.65% | <70% | 0% |
| **EBITDA at target: $4.130 billion** |  |  |  |

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(1) Interpolate for performance between discrete points, rounded to the nearest 10% increment

The actual bonus amounts payable to our NEOs for 2022 are set forth in the "2022 Summary Compensation Table".

#### Long-Term Incentive Compensation

#### Form of Long-Term Incentive Awards For 2022
Cummins' long-term incentive compensation program for 2022 consisted of performance shares and performance cash. The combination of these two long-term incentive vehicles supports Cummins' pay-for-performance philosophy, provides appropriate incentives for participants to achieve financial targets, and provides strong linkage between the economic interests of participants, including our NEOs, and shareholders.

#### Target Grant Values
Cummins' TMCC generally sets the target long-term incentive values for officers on average at the median of the market. Grant values are set using a market-based economic valuation methodology which converts the targeted value of the grants into a number of performance shares and a targeted dollar amount of performance cash. The number of performance shares granted is based on a three-month average daily trading day stock price in the final quarter of Cummins' prior year to mitigate the impact of temporary stock price spikes or drops on the number of shares to be granted.

The target long-term incentive values for 2022 for our NEOs were as follows:

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| | |
|:---|:---|
| Officer  | 2022 Target <br> Long-Term <br> Incentive Value  |
| Steph Disher  | $350000 |
| Jack Kienzler  | $50000 |
| Mark Osowick  | $275000 |
| Toni Y. Hickey  | $50000 |
| Charles Masters  | $70000 |

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#### Performance Plan Measures
Since the 2019-2021 long-term performance cycle, Cummins has used two metrics for long-term performance shares and performance cash: ROIC, which has an 80% weighting, and EBITDA, which has a 20% weighting. Cummins' TMCC reaffirmed these metrics were appropriate for the 2022-2024 award cycle as Cummins continued to focus on both growth and delivering strong returns on the capital it invests. Cummins' TMCC believes that, together, these metrics generally tend to strongly correlate with total shareholder return.

#### ROIC and EBITDA Performance Targets for the 2020-2022 Award Cycle
For the 2020-2022 performance cycle, Cummins set a stable ROIC target of 15%, which represented a target that was both above the median of its peer group as well as a challenging goal across the 3-year performance period. Cummins endeavors to maintain a stable target as long as its strategy remains the same in delivering competitive long-term returns. Cummins also established a cumulative 3-year EBITDA goal that Cummins' TMCC deemed to be challenging, yet realistic, and consistent with its long-term strategy and financial plans.

ROIC for compensation purposes equals: average earnings before interest expense and non-controlling interests after taxes for the 3-year performance period ÷ average invested capital for the 3-year performance period. EBITDA for compensation purposes equals cumulative earnings before interest expense, income taxes, non-controlling Interests, depreciation and amortization for the 3-year performance period.

The table below summarizes the ROIC and EBITDA targets for the 2020-2022 award cycle.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | ROIC Goal <br> (80% Weighting)  | ROIC Goal <br> as% of <br> Target  | EBITDA Goal <br> ($ million) <br> (20% Weighting)  | EBITDA Goal <br> as % of Target  | ROIC and <br> EBITDA <br> Payouts as % <br> of Target<sup>(1)</sup>  |
| >Maximum  | 19.50% | 130% | $12422 | 115% | 200% |
| Target  | 15.00% | 100% | $10802 | 100% | 100% |
| Threshold  | 10.50% | 70% | $9182 | 85% | 10% |
| <sup>(2)</sup> | 10.50% | <70% | 9182 | <85% | 0% |

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(1) Interpolate for performance between discrete points

(2) Plan does not require that both measures are above threshold for a payout to occur

#### 2020-2022 Long-Term Performance Shares and Performance Cash Payouts
The 2020-2022 long-term performance cash payouts for our NEOs are set forth in the "Summary Compensation Table."

#### Going Forward
Cummins' stock options held by our employees, including our NEOs, at the time of the completion of this offering, will remain outstanding; unvested stock options will accelerate and vest. For the performance awards in the 2021-2023 and 2022-2024 award cycles, Cummins' TMCC will freeze the pay-out factors mid-cycle for Atmus employees based on actual Cummins performance (ROIC and EBITDA) to date through the completion of this offering and prorate the awards. The prorated performance cash will be paid out at the normal time after the end of the original performance cycle. The prorated performance shares for the portion of the performance period prior to the completion of this offering will be converted to time-vesting RSUs relating to Atmus common stock that will vest at the completion of the original performance cycle. The remaining value of the long-term incentives will be converted into Atmus stub cycle plans as discussed above.

Cummins' TMCC has approved the program with the objective of making sure it is effective with respect to retaining and motivating skilled executives and aligning the interests of management and our

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shareholders. The type of awards used for our program have been determined to be 70% PSUs and 30% RSUs. For a discussion of awards for stub cycles 2021-2023 and 2022-2024, see "— *How Performance Measures and Goals are Determined — Going Forward*." Other than for those stub cycles, the performance stock units will have a three-year performance period. The restricted stock units will have three-year ratable vesting. The performance metrics for the performance stock units will be 50% Cumulative EBITDA and 50% ROIC. The shares awarded at threshold performance will be 10% of target shares and the shares awarded at maximum performance will be 200% of target shares.

The target long-term incentive values for our NEOs for 2023 are as follows:

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| | |
|:---|:---|
| Officer  | 2023 Target <br> Long-Term <br> Incentive Value  |
| Steph Disher  | $2800000 |
| Jack Kienzler  | $680000 |
| Mark Osowick  | $275000 |
| Toni Y. Hickey  | $350000 |
| Charles Masters  | $350000 |

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Atmus expects to make one-time "launch grants" in the form of RSUs to our leaders primarily at the director and above levels following the completion of the offering. Consistent with our compensation philosophy, the purpose of these grants will be to reinforce an ownership stake and retain critical leadership in our business. Specific grant amounts and provisions have not yet been determined or approved by our TMCC.

#### The Compensation Decision Process

#### Role of Cummins' Chief Executive Officer
For other officers below the level of Cummins' CEO, including our NEOs, Cummins' CEO considers performance and makes individual recommendations to Cummins' TMCC on salary, annual incentive targets, and long-term incentive targets. This review occurs annually at the February Cummins' TMCC meeting, which is the first meeting of the year and provides the earliest opportunity to review and assess individual and corporate performance for the previous year.

Cummins' TMCC evaluates each officer's compensation relative to the market median for similar positions and considers internal equity and the experience, tenure, potential and performance of each officer and modifies and approves, as appropriate, these recommendations.

#### Role and Independence of Cummins' Compensation Consultant
For 2022, Cummins' TMCC engaged Farient as its independent compensation consultant to provide input and advice to Cummins' TMCC. Farient also advises the Cummins' TMCC on non- employee director compensation. Other than the services provided to Cummins' TMCC, Farient does not provide any other services to Cummins. Cummins' TMCC maintains a formal process to ensure the independence of any executive compensation advisor engaged by our TMCC, including consideration of all factors relevant to the advisor's independence from management, including those factors specified by the NYSE listing rules. Cummins' TMCC assessed the independence of Farient in light of those factors and concluded that Farient is an independent compensation advisor and that its work for our TMCC did not raise any conflict of interest.

Cummins' TMCC oversees the work of the consultant and has final authority to hire or terminate any consultant. Our TMCC also annually reviews structural safeguards to assure the independence of the consultant.

#### Going Forward
Cummins' TMCC engaged Farient to advise on our compensation programs while planning for this offering. In late 2022, our TMCC engaged Farient as its independent compensation consultant. We

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anticipate that, following the completion of this offering, the roles of Farient and our management in connection with the executive compensation process will be similar to Cummins' approach.

#### Annual Compensation Risk Assessment
In 2022, Cummins' TMCC conducted its annual risk assessment of Cummins' compensation policies and practices. Cummins' TMCC evaluated the levels of risk-taking encouraged by Cummins' compensation arrangements to determine whether they were appropriate in the context of its strategic plan and annual budget, its compensation objectives, and Cummins' overall risk profile. Cummins' TMCC also reviewed the robust risk-mitigation features of Cummins' compensation program, the most significant of which are outlined below.

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| | |
|:---|:---|
| Pay Mix  | The three primary elements of Cummins' executive compensation program are salary, annual bonus, and long-term incentive compensation. Cummins targets the median of the market for its total compensation package. This approach mitigates the need for executives to take significant risks to earn average competitive compensation and also ensures that the interests of Cummins' executives are closely aligned with those of its shareholders. |
| Performance- Based Measurement  | The performance goals set forth in Cummins' annual bonus and long-term incentive plans are based upon budgeted levels that are reviewed and approved by Cummins' TMCC. Cummins believes these goals are challenging yet attainable at their targeted levels without the need to take inappropriate risks, take actions that would violate the Cummins' Code of Business Conduct, or make material changes to Cummins' long-term business strategy or operations. Payouts under both incentive plans are capped at 200% of target to make it less likely that executives would pursue outsized short-term achievements at the expense of the long term. |
| Time Horizon  | Cummins' long-term incentive plan awards are based on a three-year performance period, which encourages employees to focus on the sustained growth of Cummins rather than seeking potentially unsustainable short-term gains. |
| Clawback Policy  | Amounts paid to any officer under Cummins' annual bonus or long-term incentive compensation plans are subject to recovery in accordance with the Cummins' recoupment policy, as described below. |
| Other Risk Mitigators  | Cummins pays incentive compensation only after its audited financial results are complete and Cummins' TMCC has certified performance results and the associated incentive awards. Additionally, Cummins has stock ownership requirements for all officers that ensure the interests of Cummins' leaders and shareholders are aligned. Cummins also prohibits officers from engaging in forms of hedging or monetization transactions involving the establishment of a short position in its securities and from entering into any arrangement that, directly or indirectly, involves the use of its securities as collateral for a loan. |

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|:---|:---|
| Exclusion of Unusual Items  | In measuring financial performance under Cummins' annual short- and long-term bonus plans, Cummins' TMCC has discretion to adjust performance results that reflect significant transactions or other unusual items if such events were not anticipated at the time performance targets were initially established. Cummins believes allowing these exclusions ensures its executives will focus on the merits of proposed transactions for Cummins rather than the effect a proposed action may have on incentive compensation. |

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As a result of its review, Cummins' TMCC concluded that Cummins had a balanced executive compensation program for 2022 that did not drive excessive financial risk-taking. Cummins believes that risks arising from its compensation policies and practices are not reasonably likely to have a material adverse effect on Cummins.

#### Going Forward
We anticipate the risk assessment and mitigation approach we use for our compensation programs will initially be similar to Cummins. Following the completion of this offering, our TMCC will review the compensation program and design and may make changes to align them to our compensation philosophy and business needs, taking into account risk and risk mitigation strategies.

#### Benefits
Cummins' officers, including our NEOs, participate in a full range of health, welfare and retirement benefits and are covered by the same plans as other exempt employees. Cummins targets its total benefit package to be at the median of the market.

In addition to these benefits, Cummins' U.S. officers, which include our CEO and CHRO, participate in a supplemental life insurance and deferred income program that is designed to attract and retain key leadership talent in senior positions. This program provides additional life insurance equal to three times salary while the officer is an active employee, and supplemental retirement payments, which are offset by and coordinated with payments from Cummins' regular retirement plans.

The supplemental retirement provision "tops up" the pension available from Cummins' regular pension plans to provide a total benefit based on a percentage of the officer's highest average consecutive 60-month salary and annual bonus received during the last 10 years of employment. The total replacement formula is 2% for each of the first 20 years and 1% for each of the next 10 years, with a maximum 50% total benefit for most participants. Our CEO and CHRO participate in the current Cummins supplemental retirement plan.

A majority of Cummins' employees, including our NEOs, are eligible to participate in Cummins' employee stock purchase plan. Under the employee stock purchase plan, each eligible employee may authorize the withholding of 1-15% of base pay each pay period to be used to purchase shares of Cummins' common stock for the employee's account on the open market. Cummins makes a matching contribution in cash in an amount sufficient to give employees a 15% discount on the purchase price of these shares.

#### Going Forward
Atmus's TMCC is reviewing our retirement, savings and benefit programs and may make changes from programs that Cummins maintained immediately prior to the conclusion of this offering to align our programs with our strategic priorities.

#### Perquisites
Perquisites do not constitute a major element of Cummins' executive compensation program.

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Cummins' officers, including our CEO and CHRO, are entitled to the services of a financial counselor for estate- and tax-planning advice and tax return preparation. Cummins pays the fees for these services, which are detailed in the Summary Compensation Table.

Cummins' officers, including our CEO and CHRO, are eligible to use Cummins' aircraft for reasonable personal use, following a prescribed approval process. Cummins' TMCC reviews the level of usage annually. Cummins believes that allowing officers to use a Cummins-owned plane for limited personal use saves time and provides additional security for them, which ultimately benefits Cummins. In 2022, none of our NEOs made personal use of Cummins' aircraft.

Executive physical examinations are available for all officers, which includes our CEO. Cummins' TMCC considers this practice to be good corporate governance and a direct benefit to Cummins' shareholders.

#### Going Forward
Our TMCC will evaluate the use of perquisites as part of our overall compensation strategy and seek to provide a level of perquisites appropriate to our company. We will provide company-paid financial counseling services for estate- and tax-planning advice and tax return preparation, supplemental disability coverage, and executive physical examinations.

#### Executive Compensation Policies

#### Compensation Recoupment
Cummins' incentive compensation awards are subject to its compensation recoupment, or "clawback" policy. This policy provides that, if any of its financial statements are required to be materially restated due to the fraudulent actions of any officer, Cummins' TMCC may direct that Cummins recover all or a portion of any award or any past or future compensation other than salary from the responsible officer with respect to any year for which its financial results are adversely affected by such restatement.

Effective January 1, 2021, Cummins adopted a modified clawback policy under which Cummins is also authorized to recover incentive-based compensation erroneously awarded to an officer on the basis of a financial reporting measure that is subject to an accounting restatement. The modified clawback policy also authorizes Cummins to recover incentive compensation paid or awarded to an officer if the officer engages in certain types of misconduct specified in the policy and that misconduct has caused, or might reasonably be expected to cause, significant reputational or financial harm to Cummins.

#### Going Forward
We have adopted a formal clawback policy that will go into effect following this offering. The clawback policy is similar to Cummins' policy. We expect to amend our policy in a timely manner to the extent necessary to ensure compliance with the final SEC and NYSE rules on clawbacks.

#### Post-Employment Compensation (otherwise than in connection with a change in control)
Cummins does not have formal severance agreements with any of its NEOs or with any of our NEOs, and we do not anticipate entering into severance or employment agreements with any of our NEOs in connection with this offering. However, Cummins has a policy of paying severance under certain circumstances to officers and other employees whose employment is terminated, and certain of Cummins' plans provide for other benefits upon certain change-in-control events and terminations of employment. These arrangements are described in detail under "*Potential Payments Upon Termination or Change in Control*." The purposes of these benefits are to encourage our key executives to concentrate on taking actions that are in the best interests of our shareholders without regard to whether such actions may ultimately have an adverse impact on their job security, and to enable key executives to provide objective advice on any potential change in control without undue concern for their personal financial situations. Cummins' TMCC periodically reviews and modifies these benefits to ensure they continue to meet these objectives.

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Cummins' severance policy provides the following benefits to our NEOs upon termination of employment without "cause":

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| | |
|:---|:---|
| For Our Chief Executive Officer and Chief <br> Human Resources Officer  | For Our Other Named Executive Officers  |
| &nbsp;&nbsp;&nbsp; • Severance equal to one year's salary plus pro-rated annual bonus, calculated at the actual payout factor and paid at the normal time <br>| &nbsp;&nbsp;&nbsp; • Severance equal to nine months' salary plus pro-rated annual bonus, calculated at the actual payout factor and paid at the normal time <br>|
| &nbsp;&nbsp;&nbsp; • Health Insurance and out placement services benefits paid during the continuation severance period <br>| &nbsp;&nbsp;&nbsp; • Health Insurance and out placement services benefits paid during the continuation severance period <br>|

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#### Going Forward
Atmus TMCC has adopted a tailored severance policy for implementation following the completion of this offering. This policy is designed to be consistent with prevailing market practice and good governance guidelines. The policy covers our leadership officers and will provide for the following benefits upon termination of employment without "cause."

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| | |
|:---|:---|
| For Our Chief Executive Officer  | For Other Leadership Officers, including NEOs  |
| &nbsp;&nbsp;&nbsp; • Severance equal to two years' salary, paid monthly over two years, plus a pro-rated annual bonus for the year in which termination occurs, calculated at the actual payout factor and paid at the normal time <br>| &nbsp;&nbsp;&nbsp; • Severance equal to one year's salary, paid monthly over one year, plus a pro-rated actual bonus for the year in which termination occurs, calculated at the actual payout factor and paid at the normal time <br>|
| &nbsp;&nbsp;&nbsp; • Health insurance, outplacement service and financial counseling benefits paid during the continuation severance period <br>| &nbsp;&nbsp;&nbsp; • Health insurance, outplacement service and financial counseling benefits paid during the continuation severance period <br>|

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Unvested equity awards are treated in accordance with the governing plan documents and grant agreements. Under the current agreements, unvested equity awards are forfeited in the event of termination without "cause."

#### Post-Employment Compensation (in connection with a change in control)
Cummins has a policy of paying severance under certain circumstances to officers whose employment is terminated in connection with a change in control. However, our other NEOs (except our CEO and our Chief Human Resources Officer) are not covered by this policy, except as otherwise provided in any specific share or bonus plan, so they may not receive any enhanced severance in connection with a change in control as compared to a non-change-in-control context.

Awards under Cummins' long-term compensation plans provide for accelerated vesting upon a change in control only if the awards are not assumed or replaced or if the award holder's employment is also terminated by Cummins (or the surviving entity) without cause or by the award holder with good reason within two years after the change in control.

The purposes of these benefits are to encourage Cummins' key executives to concentrate on taking actions that are in the best interests of Cummins' shareholders without regard to whether such actions may ultimately have an adverse impact on their job security, and to enable key executives to provide objective advice on any potential change in control without undue concern for their personal financial situations.

Under Cummins' change in control compensation protection arrangements, benefits would be provided following a qualified change in control and termination without "cause" by Cummins or termination by the officer for "good reason" within two years of the change in control.

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Upon the occurrence of both triggering events, the following benefits would be provided to our NEOs:

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| | |
|:---|:---|
| For Our Chief Executive Officer <br> and our Chief Human Resources Officer  | For Our Other NEOs  |
| &nbsp;&nbsp;&nbsp; • Severance equal to the sum of one year's salary plus annual target bonus <br>• Full vesting of unvested stock options <br>• Payout of performance shares and performance cash at target level <br>• Continuation for a one-year severance period of certain retirement benefits or an equivalent cash payment <br>• Continuation for a one-year severance period of certain insurance benefits <br>| &nbsp;&nbsp;&nbsp; • Severance equal to the sum of nine months' salary plus pro-rated annual bonus, calculated at the actual payout factor and paid at the normal time (assumes normal severance treatment) <br>• Full vesting of unvested stock options <br>• Payout of performance shares and performance cash at target level <br>|

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The Cummins change-in-control compensation protection arrangements do not provide for tax gross- ups for excise taxes imposed under the "golden parachute" excise tax provisions of Code Sections 280G and 4999. Instead, the arrangements provide that, if excise taxes are imposed because of the "golden parachute" excise tax provisions of Code Sections 280G and 4999, change-in-control compensation protections will either be cut back to below the level that would trigger the imposition of the excise taxes, or paid in full and subjected to the excise taxes, whichever results in the better after-tax outcome to the affected person.

 *Going Forward* 

Cummins' TMCC has adopted a tailored change in control severance policy for our implementation following the completion of this offering. This policy is designed to be consistent with prevailing market practice and good governance guidelines. Our change in control policy will cover our leadership officers and will provide for the following benefits upon termination of employment without "cause" or for "good reason" within the 60 days preceding, or the two years following, the change-in-control.

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| | |
|:---|:---|
| For Our Chief Executive Officer  | For Our NEOs Other Than Our CEO  |
| &nbsp;&nbsp;&nbsp; • Severance equal to three times the sum of annual salary plus the annual target bonus <br>| &nbsp;&nbsp;&nbsp; • Severance equal to two times the sum of annual salary plus the annual target bonus <br>|
| &nbsp;&nbsp;&nbsp; • Health insurance, outplacement service and financial counseling benefits <br>| &nbsp;&nbsp;&nbsp; • Health insurance, outplacement service and financial counseling benefits <br>|

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Unvested equity and performance cash awards would be treated in accordance with the governing plan documents and grant agreements. Under the current plan document, if the awards would not remain in effect following the change in control, then all unvested awards would become vested (at the target level of achievement, for performance awards) at the time of the change in control. If the awards do continue in effect after the change in control, then the awards would vest in full (at the target level of achievement, for performance awards) if the award holder is terminated without "cause" or for "good reason" within the two years following the change in control.

Like Cummins, we will not provide tax gross-ups for excise taxes imposed because of the "golden parachute" excise tax provisions of Code Sections 280G and 4999. Also like Cummins, we will instead provide that, if excise taxes are imposed because of the golden parachute excise tax provisions of Code Sections 280G and 4999, our change-in-control compensation will either be cut back to below the level that would trigger the imposition of the excise taxes, or paid in full and be subject to the excise taxes, whichever results in the better after-tax outcome to the affected person.

#### Confidentiality and Non-Compete Agreements
Each of Cummins' officers, including our CEO, has signed an agreement not to disclose Cummins' confidential information or to accept employment with certain competitors during, and for 12 months after, the time the officer is employed by Cummins.

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#### Employment Transition and Release Agreement with Mark Osowick
On August 26, 2022, Cummins and Atmus entered into an employment transition and release agreement with Mark Osowick (the "employment agreement"). A summary of the material terms of this agreement is set forth below and is qualified in its entirety by reference to the text of the employment agreement, filed herewith. Mr. Osowick is currently a Cummins employee serving as Atmus's Chief Human Resources Officer.

Pursuant to the employment agreement and upon the completion of this offering, Mr. Osowick will retire from Cummins and will immediately begin serving as Atmus's Chief Human Resources Officer to assist with the transition until the appointment of a longer-term Chief Human Resources Officer. His employment will be on an at-will basis for an initial six-month term, with an option to extend for an additional six months. Mr. Osowick is entitled to the following compensation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a salary at an annual rate of $370,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a variable compensation bonus based on his salary provided that the Chief Executive Officer, in her sole discretion, determines that Mr. Osowick is meeting performance expectations, applying a target equal to the target applied to Mr. Osowick's 2022 Cummins Variable Compensation targets, pro-rated; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a cash replacement bonus based on an assumed target value of grants that Mr. Osowick may have received in 2023 had he been eligible, pro-rated for any partial year of service or expected retirement date.

Pursuant to the employment agreement, in consideration for Mr. Osowick's changing retirement plans, Atmus will also pay Mr. Osowick:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a lump sum cash bonus to account for the difference between the value of compensation Mr. Osowick is expected to realize from his performance shares and performance cash awards related to Cummins' 2020 – 2022, 2021 – 2023, and 2022 – 2024 grant cycles, and the value he would have been expected to realize from such grants had he retired from Cummins in June 2023; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a lump sum cash bonus to account for (1) the difference in the present value of Cummins' Supplemental Life Insurance and Deferred Income Plan ("SERP") annuity payments that Mr. Osowick would have received had he retired from Cummins in June 2023, compared to the present value of SERP annuity payments that he will receive upon his separation from service, and (2) the pro rata portion of a target grant level for 2023 of $275,000 and any launch grant, assuming a separation from service in 2023.

In connection with the execution of the employment agreement, Mr. Osowick also accepted and executed a release agreement.

#### Stock Ownership Requirements
Cummins' TMCC believes Cummins' officers should own a significant amount of Cummins' stock to further link their economic interests to those of Cummins' shareholders. Our CEO, as an officer of Cummins, is required to own a number of shares of Cummins' common stock having a total value equal to one times her salary.

An officer's direct and indirect ownership of Cummins' common stock counts toward the ownership requirements whereas unexercised stock options and unearned performance shares do not.

Because Cummins' stock value may vary, ownership requirements are expressed as a set number of shares for defined salary bands. The number of required shares is reviewed annually and established by Cummins' TMCC based on an average stock price over a three-year period.

Cummins' officers have five years from the date of initial appointment to meet their ownership requirement. An officer whose salary increases to a new band (and higher stock ownership requirement) has three years from the date of the increase to achieve the higher level. Subject to limited exceptions,

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officers may not sell any shares until they reach their stock ownership guideline, and then they may only sell Cummins' shares to the extent their stock ownership would not drop below their required level.

#### Going Forward
Atmus TMCC has adopted ownership guidelines for our officers that will be implemented upon the completion of this offering. These guidelines are:

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| | |
|:---|:---|
| Position  | Required Value of Company Stock Ownership  |
| Chief Executive Officer | 5 times salary |
| Chief Financial Officer | 3 times salary |
| Chief Human Resources Officer | 2 times salary |
| Chief Legal Officer & Corporate Secretary | 2 times salary |
| VP Engine Products and VP Supply Chain | 2 times salary |

---

Shares counting toward the guideline will include shares owned outright, regardless of how they are acquired, plus 50% of the value of unvested RSUs. Those subject to a guideline will be required to hold the after-tax value of shares earned through our compensation programs until the guidelines are met. Compliance with the guidelines will be evaluated using the current stock price at the time of evaluation multiplied by the number of shares held, divided by the executive's salary at the time of the evaluation.

#### Pledging and Hedging Policy
Cummins maintains a policy under which its officers and directors are prohibited from engaging in forms of hedging or monetization transactions involving the establishment of a short position in Cummins' common stock, such as zero-cost collars and forward sale contracts. They are also prohibited from entering into any arrangement that, directly or indirectly, involves the pledge of Cummins' securities or other use of Cummins' securities as collateral for a loan. Cummins' anti-pledging and anti-hedging policy does not apply to employees who are not officers or directors.

#### Going Forward
Cummins' TMCC has adopted the same pledging and hedging polices for Atmus. These policies will be implemented following the completion of this offering. Following the completion of this offering, our TMCC is expected to review and evaluate these policies periodically.

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#### 2022 Summary Compensation Table
The Summary Compensation Table and notes show all compensation paid to or earned by our NEOs for 2022 under Cummins' compensation programs and plans. Following the completion of this offering, our NEOs will receive compensation and benefits under our compensation programs and plans.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Name and Principal Position  | Year  | Salary  | Bonus<sup>(1)</sup>  | Stock <br> Awards<sup>(2)</sup>  | Option <br> Awards<sup>(3)</sup>  | Non-Equity <br> Incentive Plan <br> Compensation<sup>(4)</sup>  | Change in <br> Pension <br> Value and <br> Nonqualified <br> Deferred <br> Compensation <br> Earnings<sup>(5)</sup>  | All Other <br> Compensation<sup>(6)</sup>  | Total  |
|  Steph Disher ........................... <br>Chief Executive Officer | 2022 | $392045 | $— | $195012 | &nbsp;&nbsp;&nbsp;&nbsp; – &nbsp;&nbsp;&nbsp; | $189894 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $129942 | $906893 |
|  Jack Kienzler .........................<br>Chief Financial Officer | 2022 | $272541 | $63750 | $27260 | &nbsp;&nbsp;&nbsp;&nbsp; – &nbsp;&nbsp;&nbsp; | $86039 | $— | $33077 | $482667 |
|  Mark Osowick ......................... <br>Chief Human Resources Officer | 2022 | $370000 | $— | $153562 | &nbsp;&nbsp;&nbsp;&nbsp; – &nbsp;&nbsp;&nbsp; | $231200 | $— | $20821 | $775583 |
|  Toni Y. Hickey ........................ <br>Chief Legal Officer and Corporate Secretary | 2022 | $332031 | $50610 | $27260 | &nbsp;&nbsp;&nbsp;&nbsp; – &nbsp;&nbsp;&nbsp; | $93104 | $— | $30680 | $533685 |
|  Charles Masters ..................... <br>Vice President, Engine Products | 2022 | $311098 | $30350 | $39981 | &nbsp;&nbsp;&nbsp;&nbsp; – &nbsp;&nbsp;&nbsp; | $96904 | $— | $11885 | $490218 |

---

(1) Jack Kienzler, Toni Hickey and Charles Masters received supplemental payments from August 1 through December 31, 2022 totaling $63,750, $25,610 and $30,350, respectively, representing a portion of the difference between their salaries as in effect as of August 1, 2022 and their anticipated higher salaries in connection with this offering. The payments were made to recognize the executives' enhanced scope of responsibilities and contributions during the latter part of 2022. These supplemental payments are included as eligible earnings for computing the 2022 annual bonuses paid in March 2023. Toni Hickey also received a one-time bonus of $25,000 in recognition of her leadership in Cummins diversity initiatives.

(2) The Stock Awards column represents the fair value on the grant date, computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, which we refer to as ASC Topic 718, for stock awards, which were made pursuant to the Cummins 2012 Omnibus Incentive Plan, based upon the probable outcome of the performance conditions, consistent with the estimate of aggregate compensation cost to be recognized over the service period determined as of the grant date under ASC Topic 718. Pursuant to SEC rules, the amounts shown exclude the impact of estimated forfeitures related to service-based vesting conditions. The values shown relate entirely to performance shares for each of the NEOs. Performance shares are earned based on Cummins' financial performance over a three-year period, and the shares earned are not restricted after the performance period. The maximum values of the 2022 awards at the grant date assuming the highest level of performance conditions are attained are as follows: Steph Disher — $390,024; Jack Kienzler — $54,519; Mark Osowick — $307,124 Toni Hickey — $54,519; Charles Masters — $79,961.

(3) As described above under the heading "Long-Term Incentive Compensation," for Cummins' 2022 long-term incentive program, the TMCC eliminated stock options from the pay mix and weighted performance shares 70% and performance cash 30%. Accordingly, no stock option awards were granted to our NEOs in 2022.

(4) Cummins' annual bonuses are performance based, not discretionary, and are therefore included as Non-Equity Incentive Plan Compensation. The amounts shown in this column for 2022 consist of (i) payments to be made in March 2023 under the Annual Bonus Plan for 2022 performance and (ii) payments for the performance cash component of Cummins' long term incentive compensation program, which will be paid in March 2023 based on Cummins' 2020-2022 performance. The payments for each Named Executive Officer from these sources were:

---

| | | | |
|:---|:---|:---|:---|
| Name of Officer  | Annual Bonus Plan  | Performance Cash  | Total  |
| **Steph Disher**  | $164694 | $25200 | $189894 |
| **Jack Kienzler**  | $68039 | $18000 | $86039 |
| **Mark Osowick**  | $129500 | $101700 | $231200 |
| **Toni Y. Hickey**  | $75104 | $18000 | $93104 |
| **Charles Masters**  | $71704 | $25200 | $96904 |

---

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(5) The 2022 aggregate changes in the actuarial present value of each NEO's pension plans and the above market earnings on non-qualified deferred compensation are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Steph <br> Disher  | Jack <br> Kienzler  | Mark <br> Osowick  | Toni Y. <br> Hickey  | Charles <br> Masters  |
| **Cummins Pension Plan A (Qualified)**  | $16780 | $(21455) | $(9960) | $(18773) | $(39591) |
| **Cummins Excess Benefit Plan (Non-qualified)**  | $17211 | $1618 | $7551 | $(3385) | $3982 |
|  **Supplemental Life Insurance and Deferred Income Program (Non-qualified)**  | $(86031) | $— | $(1062462) | $— | $— |
| &nbsp;&nbsp;&nbsp; **Sub-total**  | $(52040) | $(19837) | $(1064871) | $(22158) | $(35609) |
|  **Above-market earnings on non-qualified deferred compensation**  | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp; **TOTAL**  | $(52040) | $(19837) | $(1064871) | $(22158) | $(35609) |

---

The amounts shown in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column and in the table immediately above reflect our NEOs' years of credited service under Cummins' pension plans. "Above market" is defined as the amount of earnings that exceeded 120% of the applicable federal long term rate. The present value of the benefits depends in part on the interest rate used to discount the future benefits under the pension plan to their present value.

(6) The amounts in this column represent the cost of all other compensation provided to the NEOs as set forth in the following tables:

#### 2022 All Other Compensation Table

---

| | | | | |
|:---|:---|:---|:---|:---|
| Name of Officer  | Company <br> Contributions <br> under the <br> Retirement and <br> Savings Plan  | Expat <br> Allowance<sup>(1)</sup>  | Other<sup>(2)</sup>  | Total  |
| **Steph Disher**  | $11175 | $57106 | $61661 | $129942 |
| **Jack Kienzler**  | $11175 |  | $21902 | $33077 |
| **Mark Osowick**  | $11175 |  | $9646 | $20821 |
| **Toni Y. Hickey**  | $11175 |  | $19505 | $30680 |
| **Charles Masters**  | $11175 |  | $710 | $11885 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)

The amounts disclosed in this column consist of expatriate allowances and related expenses and benefits provided for our NEOs who attain expatriate status by relocating outside of their home country, which include the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Name of Officer  | Host Country <br> Housing <br> Expenses  | Dependent <br> Education <br> Allowance  | Lump Sum <br> Transition <br> Allowance  | Localization/<br>Preview Trip | Other<sup>(a)</sup>  | Total  |
| **Steph Disher**  | $– &nbsp;&nbsp;&nbsp;&nbsp; | $– &nbsp;&nbsp; | $12324 | $24741 | $20041 | $57106 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)

The amounts disclosed in this column include host country transportation costs, family allowance, home country household goods storage costs, home leave airfare costs, tax payment/preparation costs, other expenses, VAT/ GST, administrative fees, goods and services cost differential and miscellaneous relocation allowance.

The amounts above reflect payments made in 2022 with respect to Steph Disher's expatriate status, which ended in 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)

The amounts disclosed in this column represent the costs of financial counseling, tax assistance, life insurance, relocation and other cash allowances provided as a benefit to the NEOs.

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Grants of Plan-Based Awards for Fiscal 2022

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Name  | Grant <br> Date  | Date of <br> Committee <br> Action  | Estimated Future Payouts Under <br> Non-Equity Incentive Plan Awards  | Estimated Future Payouts Under <br> Non-Equity Incentive Plan Awards  | Estimated Future Payouts Under <br> Non-Equity Incentive Plan Awards  | Estimated Future Payouts Under <br> Equity Incentive Plan Awards  | Estimated Future Payouts Under <br> Equity Incentive Plan Awards  | Estimated Future Payouts Under <br> Equity Incentive Plan Awards  | Stock Awards: <br> Number of <br> Shares or <br> Units <br> (#)  | Awards: <br> Number of <br> Securities <br> Underlying <br> Options <br> (#)  | Exercise <br> or Base <br> Price of <br> Option <br> Awards <br> (#)  | Grant <br> Date Fair <br> Value of <br> Stock and <br> Option <br> Awards <br> (#)<sup>(1)</sup>  |
| Name  | Grant <br> Date  | Date of <br> Committee <br> Action  | Threshold <br> ($)  | Target <br> ($)  | Maximum <br> ($)  | Threshold <br> (#)  | Target <br> (#)  | Maximum <br> (#)  | Stock Awards: <br> Number of <br> Shares or <br> Units <br> (#)  | Awards: <br> Number of <br> Securities <br> Underlying <br> Options <br> (#)  | Exercise <br> or Base <br> Price of <br> Option <br> Awards <br> (#)  | Grant <br> Date Fair <br> Value of <br> Stock and <br> Option <br> Awards <br> (#)<sup>(1)</sup>  |
| Steph Disher ........... | N/A | N/A(1) | $23523 | $235227 | $470455 |  |  |  |  |  |  |  |
|  | N/A | N/A(2) | $10500 | $105000 | $210000 |  |  |  |  |  |  |  |
|  | 4/4/22 | 2/3/22(3) |  |  |  | 77 | 770 | 1540 |  |  |  | $139932 |
|  | 7/1/22 | 7/15/22(4) |  |  |  | 31 | 305 | 610 |  |  |  | $55080 |
| Jack Kienzler ........... | N/A | N/A(1) | $7722 | $77220 | $154440 |  |  |  |  |  |  |  |
|  | N/A | N/A(2) | $1500 | $15000 | $30000 |  |  |  |  |  |  |  |
|  | 4/4/22 | 2/3/22(3) |  |  |  | 15 | 150 | 300 |  |  |  | $27260 |
|  | 10/3/22(5) | N/A(5) |  |  |  |  |  |  | 25 |  |  | $5240 |
| Mark Osowick ......... | N/A | N/A(1) | $18500 | $185000 | $370000 |  |  |  |  |  |  |  |
|  | N/A | N/A(2) | $8300 | $83000 | $166000 |  |  |  |  |  |  |  |
|  | 4/4/22 | 2/3/22(3) |  |  |  | 85 | 845 | 1690 |  |  |  | $153562 |
| Toni Hickey ............. | N/A | N/A(1) | $9961 | $99609 | $199218 |  |  |  |  |  |  |  |
|  | N/A | N/A(2) | $1500 | $15000 | $30000 |  |  |  |  |  |  |  |
|  | 4/4/22 | 2/3/22(3) |  |  |  | 15 | 150 | 300 |  |  |  | $27260 |
|  | 10/3/22(5) | N/A(5) |  |  |  |  |  |  | 25 |  |  | $5240 |
| Charles Masters ...... | N/A | N/A(1) | $9333 | $93329 | $186659 |  |  |  |  |  |  |  |
|  | N/A | N/A(2) | $2100 | $21000 | $42000 |  |  |  |  |  |  |  |
|  | 4/4/22 | 2/3/22(3) |  |  |  | 22 | 220 | 440 |  |  |  | $39981 |
|  | 10/3/22(5) | N/A(5) |  |  |  |  |  |  | 25 |  |  | $5240 |

---

(1) NEOs participate in Cummins' annual bonus plan, as described in the Compensation Discussion and Analysis. The payout is calculated based on a formula approved by the Cummins' TMCC annually. Each participant is assigned a participation rate as a percent of salary. For purposes of this plan, Cummins' performance is measured by ROANA as defined by the annual plan. The annual bonus is calculated as follows:

(annual bonus) equals (annual base salary paid for calendar year) times (participation percentage assigned to each NEO) times (payout factor).

The payout factor could range from zero to 2.0, in increments of 0.1.

(2) In 2022 Cummins made target performance cash awards, expressed as dollar amounts, as part of the Cummins' long term incentive compensation program under its 2012 Omnibus Incentive Plan. A multiple of the target award is earned based on Cummins' 2022-2024 performance for Return on Invested Capital (ROIC), weighted at 80%, and EBITDA, weighted at 20%. The amount earned and paid under the three-year target award can range from zero to 200% of the target award amount. The target award will be earned if Cummins' ROIC and EBITDA levels for 2022-2024 are equal to the targeted ROIC and EBITDA levels established for that period as described in the Compensation Discussion and Analysis. The threshold payment (10% of the target award) will be earned if Cummins' ROIC is 70% of the targeted ROIC for the period and EBITDA is 85% of the targeted EBITDA for the period. The maximum payment (200% of the target award) will be earned if Cummins' ROIC is 30% above the targeted ROIC for the period and EBITDA is 15% above the targeted EBITDA for the period. To the extent earned, payments will be made in March 2025. In addition, for Steph Disher, the information includes the off-cycle grant of performance shares in connection with her promotion under substantially the same terms and conditions summarized above.

(3) In 2022, Cummins made target awards of performance shares under its 2012 Omnibus Incentive Plan. The awards are expressed as a target number of shares of Cummins' common stock. Shares are earned based on Cummins' ROIC and EBITDA performance during 2022-2024, based on the same measures as established for the target performance cash awards. The number of shares earned can range from zero to 200% of the target award number of shares. The target award number of shares will be earned if Cummins' ROIC and EBITDA for 2022-2024 are equal to the targeted ROIC and EBITDA levels established for the period as described in the Compensation Discussion and Analysis. Dividends are payable only at the conclusion of the performance period on the shares that become earned.

(4) Off-cycle grant of performance shares in connection with promotion of Steph Disher under substantially the same terms and conditions summarized in note 2 above.

(5) Off-cycle grant of restricted share units in connection with a Cummins broad-based retention award offered to employees in select job grades (excluding Cummins officers) with restricted share units ratably vesting on the first, second, and third anniversary of grant date.

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Outstanding Equity Awards at 2022 Fiscal Year-End

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  | OUTSTANDING EQUITY AWARDS AT 2022 YEAR-END  |
| Name  | Number of <br> Securities <br> Underlying <br> Unexercised <br> Options (#) <br> Exercisable  | Number of <br> Securities <br> Underlying <br> Unexercised <br> Options (#) <br> Unexercisable  | Option <br> Exercise <br> Price ($)  | Option <br> Expiration <br> Date  | Number of <br> Shares of <br> Units of <br> Stock that <br> Have Not <br> Vested (#)  | Market <br> Value of <br> Shares or <br> Units of <br> Stock That <br> Have Not <br> Vested ($)  | Equity <br> Incentive Plan <br> Awards: <br> Number of <br> Unearned <br> Shares, Units <br> or Other <br> Rights That <br> Have Not <br> Vested (#)<sup>(3)</sup>  | Equity <br> Incentive Plan <br> Awards: <br> Market or <br> Payout Value <br> of Unearned <br> Shares, Units, <br> or Other <br> Rights That <br> Have Not <br> Vested <br> ($)<sup>(4)</sup>  |
| Steph Disher .................................... |  | &nbsp;&nbsp;&nbsp;&nbsp;750<sup>(1</sup>) | $142.12 | 4/6/2030  |  |  | 2025 | $490637 |
|  | 860(2) |  | $163.43 | 4/4/2029  |  |  |  |  |
|  | 610(5) |  | $160.10 | 4/3/2028  |  |  |  |  |
| Jack Kienzler .................................... |  | &nbsp;&nbsp;&nbsp;&nbsp;530<sup>(1</sup>) | $142.12 | 4/6/2030  |  |  | 420 | $101762 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;25<sup>(12</sup>) | $6057<sup>(4</sup>) |  |  |
| Mark Osowick ................................... |  | &nbsp;&nbsp;&nbsp;&nbsp;2930<sup>(1</sup>) | $142.12 | 4/6/2030  |  |  | 2330 | $564536 |
|  | 3390(2) |  | $163.43 | 4/4/2029  |  |  |  |  |
|  | 2390(5) |  | $160.10 | 4/3/2028  |  |  |  |  |
|  | 3125(6) |  | $149.72 | 4/3/2027  |  |  |  |  |
|  | 4360(7) |  | $109.09 | 4/4/2026  |  |  |  |  |
|  | 2010(8) |  | $136.82 | 4/2/2025  |  |  |  |  |
| Toni Hickey ...................................... |  | &nbsp;&nbsp;&nbsp;&nbsp;530<sup>(1</sup>) | $142.12 | 4/6/2030  |  |  | 420 | $101762 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;25<sup>(12</sup>) | $6057 |  |  |
| Charles Masters ............................... |  | &nbsp;&nbsp;&nbsp;&nbsp;750<sup>(1</sup>) | $142.12 | 4/6/2030  |  |  | 600 | $145374 |
|  | 860(2) |  | $163.43 | 4/4/2029  |  |  |  |  |
|  | 610(5) |  | $160.10 | 4/3/2028  |  |  |  |  |
|  | 815(6) |  | $149.72 | 4/3/2027  |  |  |  |  |
|  | 1550(7) |  | $109.09 | 4/4/2026  |  |  |  |  |
|  | 720(8) |  | $136.82 | 4/2/2025  |  |  |  |  |
|  | 100(10) |  | $134.96 | 2/10/2025  |  |  |  |  |
|  | 350(11) |  | $149.34 | 4/2/2024  |  |  |  |  |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;25<sup>(12</sup>) | $6057 |  |  |

---

(1) These stock options were granted on April 6, 2020 and will vest and become exercisable with respect to all of the underlying shares of Cummins' common stock on the third anniversary of the grant date, or upon the recipient's earlier retirement, death, or disability, so long as the recipient is continuously employed by us or a subsidiary until such a date or event.

(2) These stock options were granted on April 4, 2019 and will vest and become exercisable with respect to all of the underlying shares of Cummins' common stock on the third anniversary of the grant date, or upon the recipient's earlier retirement, death, or disability, so long as the recipient is continuously employed by us or a subsidiary until such a date or event.

(3) Target awards of performance shares were granted in April 2020, April 2021 (and an off cycle award in November 2021 for Steph Disher), and April 2022 (and an off cycle award in July 2022 for Steph Disher) to be earned in a multiple ranging from zero to two times the target awards, based on Cummins' performance during 2020-2022, 2021-2023 and 2022-2024, respectively. The performance period of the April 2020 grant ended December 31, 2022 and the shares earned from the April 2020 grant will be awarded in March 2023. The performance shares earned from the April 2021 grant will be awarded in March 2024, and the performance shares earned from the April 2022 grant will be awarded in March 2025. The number of shares outstanding represents the target number of performance shares granted in 2020, 2021 and 2022.

(4) The price per share used to calculate the market value was $242.29, the unadjusted closing price of Cummins' common stock on the NYSE on December 30, 2022, the last trading day of the year.

(5) These stock options were granted on April 3, 2018 and vested and became exercisable with respect to all of the underlying shares of Cummins' common stock on the third anniversary of the grant date.

(6) These stock options were granted on April 3, 2017 and vested and became exercisable with respect to all of the underlying shares of Cummins' common stock on the third anniversary of the grant date.

(7) These stock options were granted on April 4, 2016 and vested and became exercisable with respect to all of the underlying shares of Cummins' common stock on the third anniversary of the grant date.

(8) These stock options were granted on April 2, 2015 and vested and became exercisable with respect to all of the underlying shares of Cummins' common stock on the third anniversary of the grant date.

(9) These stock options were granted on July 16, 2014 and vested and became exercisable with respect to all of the underlying shares of Cummins' common stock on the third anniversary of the grant date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(10) These stock options were granted on February 10, 2014 and were fully vested upon grant.

(11) These stock options were granted on April 2, 2014 and vested and became exercisable with respect to all of the underlying shares of Cummins' Common Stock on the third anniversary of the grant date.

(12) These restricted share units were granted on October 3, 2022 as part of a Cummins broad-based retention grant for employees in select job grades (excluding Cummins officers) and will ratably vest on the first, second, and third anniversary of grant.

#### Option Exercises and Stock Vested During Fiscal 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| Name  | Number <br> of Shares <br> Acquired on <br> Exercise <br> (#)<sup>(1)</sup>  | Value <br> Realized on <br> Exercise <br> ($)<sup>(2)</sup>  | Number <br> of Shares <br> Acquired on <br> Vesting <br> (#)<sup>(3)</sup>  | Value <br> Realized on <br> Vesting <br> ($)<sup>(4)</sup>  |
| Steph Disher  |  |  | 171 | $33528 |
| Jack Kienzler  | 370 | $28419 | 72 | $14117 |
| Mark Osowick  | 2270 | $182013 | 670 | $131367 |
| Toni Y. Hickey  | 1290 | $114087 | 171 | $33528 |
| Charles Masters  | 385 | $49111 | 171 | $33528 |

---

(1) Represents the gross number of shares acquired upon exercise of vested options without taking into account any shares that may be withheld to cover option exercise price or applicable tax obligations.

(2) Represents the value of exercised options calculated by multiplying (i) the number of shares of Cummins' common stock to which the exercise of the option related, by (ii) the difference between the per share unadjusted closing price of Cummins' common stock on the NYSE on the date of exercise and the exercise price of the options.

(3) Target awards of performance shares were granted in April 2019 to be earned in a multiple ranging from zero to two times the target award, based on Cummins' performance during 2019-2021. These performance shares were earned and became vested on March 1, 2022. The number of shares disclosed represents the gross number of shares acquired upon vesting without taking into account any shares that may be withheld to cover applicable tax obligations.

(4) The value realized on vesting for the performance shares was calculated using the unadjusted closing price of Cummins' common stock on March 1, 2022 ($196.07).

#### Pension Benefits for 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | Credited Accumulated During Last  | Credited Accumulated During Last  | Credited Accumulated During Last  |
| Name  | Plan Name  | Number of <br> Years <br> Service <br> (#)  | Present <br> Value <br> of <br> ($)  | Payments <br> Fiscal <br> Year <br> ($)  |
| Steph Disher  | Cummins Pension Plan (Qualified) | 9 | $18116 | $— |
|  | Excess Benefit Retirement Plan (Non-qualified) | 9 | $17211 | $— |
|  | Supplemental Life Insurance and Deferred Income Plan (Non-qualified)  | 9 | $356083 | $— |
| Jack Kienzler  | Cummins Pension Plan (Qualified) | 9 | $76831 | $— |
|  | Excess Benefit Retirement Plan (Non-qualified) | 9 | $1618 | $— |
|  | Supplemental Life Insurance and Deferred Income Plan (Non-qualified)  | 9 | $— | $— |
| Mark Osowick  | Cummins Pension Plan (Qualified) | 29 | $538664 | $— |
|  | Excess Benefit Retirement Plan (Non-qualified) | 29 | $142417 | $— |
|  | Supplemental Life Insurance and Deferred Income Plan (Non-qualified)  | 29 | $2651121 | $— |
| Toni Y. Hickey  | Cummins Pension Plan (Qualified) | 10 | $143463 | $— |
|  | Excess Benefit Retirement Plan (Non-qualified) | 10 | $45445 | $— |
|  | Supplemental Life Insurance and Deferred Income Plan (Non-qualified)  | 10 | $— | $— |
| Charles Masters  | Cummins Pension Plan (Qualified) | 19 | $235954 | $— |
|  | Excess Benefit Retirement Plan (Non-qualified) | 19 | $13457 | $— |
|  | Supplemental Life Insurance and Deferred Income Plan (Non-qualified)  | 19 | $— | $— |

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#### 2022 Nonqualified Deferred Compensation
None of our NEOs have participated in any non-qualified deferred compensation plans prior to December 31, 2022.

#### Potential Payments Upon Termination or Change of Control as of 2022 Year-End
The following table sets forth the payments that would have been paid to our NEOs in the event their employment was terminated on December 31, 2022, in connection with a change of control:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Payments  | Steph <br>Disher | Jack <br> Kienzler  | Mark <br> Osowick  | Toni Y. <br> Hickey  | Charles <br> Masters  |
| Severance<sup>(1)</sup> | $800000 | $292500 | $555000 | $330077 | $312155 |
| Unvested Stock Option Spread<sup>(2)</sup>  | $75128 | $53090 | $293498 | $53090 | $75128 |
| Unvested Performance Cash<sup>(3)</sup>  | $208000 | $50000 | $279000 | $50000 | $70000 |
| Unvested Performance Shares<sup>(4)</sup>  | $490637 | $101762 | $564536 | $101762 | $145374 |
| Unvested Restricted Shares<sup>(5)</sup>  | $— | $6057 | $— | $6057 | $6057 |
| Retirement Benefit Payment<sup>(6)</sup>  | $356083 | $— | $2651121 | $— | $— |
| Welfare Benefit Values<sup>(7)</sup>  | $13046 | $9785 | $13046 | $9785 | $9785 |
| Financial Advisory and 401(k) Benefit<sup>(8)</sup>  | $24260 | $11175 | $24260 | $11175 | $11175 |
|  Reduction due to Best Net of Taxes Provision<sup>(9)</sup>  | $— | $— | $— | $— | $— |
| Aggregate Payments  | $1967154 | $524369 | $4380461 | $561946 | $629674 |

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(1) For Steph Disher and Mark Osowick, severance payment is equal to one times their annual base salary at the time of the termination, plus one annual bonus payments at a 1.0 payout factor. For the other NEOs, regardless of whether the termination is in connection with a change in control, severance amounts are equal to 9 months of base salary plus a pro-rated annual bonus, calculated at the actual payout factor and paid at the normal time under the program. For purposes of this table, the actual bonus amounts received for 2022 was combined with 9 months of base salary as of December 31, 2022.

(2) Total value of unvested stock options that would become vested upon a change in control, assuming a Cummins share price of $249.29 and a change in control date of December 31, 2022.

(3) Payouts of all of the performance cash awards for the 2020-2022, 2021-2023, and 2022-2024 award cycles at the target level.

(4) Payouts of all of the performance share awards for the 2020-2022. 2021-2023 and 2022-2024 award cycles at the target level assuming a $249.29 share price for all performance shares.

(5) Payout of 25 restricted share units granted on October 3, 2022 that would become vested upon a change in control, assuming a Cummins share price of $249.29 and a change in control date of December 31, 2022.

(6) Incremental actuarial value attributable to retirement for two years of additional service for Steph Disher and Mark Osowick. The other NEOs are not entitled to additional retirement benefits upon a change in control.

(7) Estimated value associated with the continuation of life insurance, medical, dental, and disability benefits for one year for Steph Disher and 9 months for the other NEOs.

(8) The calculation of the "Financial Advisory and 401(k) Benefit" is equal to one times the maximum annual financial advisory benefit, plus one times the annual Company Contribution under the Retirement and Savings Plan for Steph Disher and Mark Osowick.

(9) The calculation of the "Reduction due to Best Net of Taxes Provision" is based upon a Code Section 280G excise tax rate of 20% and the highest marginal income tax rates for 2022. Furthermore, it was assumed that no value will be attributed to reasonable compensation. At the time of any change in control, a value may be so attributed, which would affect whether a reduction would be triggered and the amount of any such reduction.

The following table sets forth the payments that would have been paid to our NEOs in the event that their employment was terminated on December 31, 2022, otherwise than in connection with a change of control.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Payments  | Steph <br> Disher  | Jack Kienzler  | Mark <br> Osowick  | Toni Hickey  | Charles Masters  |
| Severance<sup>(1)</sup> | $664694 | $293039 | $499500 | $329010 | $311823 |

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(1) Under Cummins' severance policies otherwise than in connection with a change in control, Steph Disher and Mark Osowick would receive one year's base salary plus the pro-rated annual bonus, calculated at the actual payout factor and paid at the normal time under the program. For purposes of this table, the actual bonus amount received for 2022 was combined with their salary as of December 31, 2022. Under Cummins' severance policies otherwise than in connection with a change in control, our other NEOs would receive 9 months of base salary plus the pro-rated annual bonus, calculated at the actual payout factor and paid at the normal time. For purposes of this table, the actual bonus amounts received for 2022 was combined with the 9 months of base salary as of December 31, 2022.

#### Director Compensation
Directors who are employed by us or Cummins (or any of their respective affiliates) are not eligible to receive compensation for their service on our board of directors. We anticipate that all independent members of our board of directors will receive an annual retention fee of $90,000 in cash and an annual equity award of restricted stock units having a grant date fair value equal to $120,000, vesting in equal quarterly installments until the earlier of the first anniversary of the grant date or the date of our next annual meeting of stockholders, that the chair of our board of directors also will receive an additional annual retainer of $100,000 in cash, that a non-employee lead director, if one is appointed, also will receive an additional annual retainer of $25,000 in cash, the chair of our audit committee and the chair of our TMCC will receive an additional annual retainer of $15,000 in cash and the chair of our governance and nominating committee also will receive an additional annual retainer of $10,000 in cash.

The following table provides information about the compensation of our non-employee directors for 2022.

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| | | | |
|:---|:---|:---|:---|
| Name  | Fees <br> Earned <br> or Paid <br> in Cash <br> ($)<sup>(1)</sup>  | Stock <br> Awards <br> ($)<sup>(2)</sup>  | Total  |
| Steve Macadam  | $158750 | $65378 | $224128 |
| R. Edwin Bennett  | $30000 | $39885 | $69885 |
| Gretchen Haggerty  | $63750 | $65378 | $129128 |
| Jane Leipold  | $63750 | $65378 | $129128 |

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(1) Fees Earned or Paid in 2022 were as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Director  | Board <br> Retainer  | Board Chair <br> Director Fee  | Committee <br> Chaired  | Committee <br> Chair Fees  | Total  |
| Steve Macadam  | $48750 | $100000 | Nominating & <br> Corporate Governance  | $10000 | $158750 |
| R. Edwin Bennett  | $30000 | $— |  | $— | $30000 |
| Gretchen Haggerty  | $48750 | $— | Audit Committee  | $15000 | $63750 |
| Jane Leipold  | $48750 | $— | TMCC Committee  | $15000 | $63750 |

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(2) The stock awards column represents the aggregate grant date fair value of restricted stock units granted to the directors for their service in 2022, computed in accordance with ASC Topic 718. The grant date fair value differs from the $10,000 per month target value of the awards because the number of restricted stock units granted was determined using a 20-day average of the closing price of Cummins common stock.

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#### SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth the number of shares and percentage of our common stock beneficially owned (i) immediately prior to the completion of this offering and (ii) as adjusted to give effect to this offering, by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • each person or group known by us to beneficially own more than 5% of our common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • each person whom we anticipate will serve on our Board of Directors as of immediately following the completion of this offering and each of our named executive officers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • all persons whom we anticipate will serve on our Board of Directors or as our executive officers as of immediately following the completion of this offering as a group.

For U.S. securities law purposes, Cummins, in its capacity as selling stockholder, is offering shares of our common stock. Instead of selling shares of common stock directly to the underwriters for cash, Cummins will first exchange the shares of our common stock to be sold in this offering with certain of the underwriters, which we refer to, in such role, as the "debt-for-equity exchange parties," for outstanding indebtedness of Cummins held by the debt-for-equity exchange parties. The debt-for-equity exchange parties will then sell the shares to the underwriters for cash. The debt-for-equity exchange between Cummins and the debt-for-equity exchange parties is expected to occur on or before the settlement date of this offering, and the consummation of the debt-for-equity exchange is a condition to the settlement of the debt-for-equity exchange parties' sale of the shares to the underwriters. If the underwriters exercise their option to purchase additional shares of common stock from the debt-for-equity exchange parties, Cummins will exchange such additional shares of common stock with the debt-for-equity exchange parties. The debt-for-equity exchange parties will then sell such additional shares of common stock for outstanding indebtedness of Cummins held by the debt-for-equity exchange parties to the underwriters for cash. See "*Underwriting (Conflicts of Interest) — The debt-for-equity exchange*." Prior to completion of this offering, we will be a wholly-owned subsidiary of Cummins.

Except as otherwise indicated, each person or entity included in the table above has sole voting and investment power with respect to the shares beneficially owned by that person or entity. Percentage of beneficial ownership is based on shares of common stock outstanding immediately prior to the completion of this offering and shares of common stock outstanding after giving effect to this offering, assuming no exercise of the underwriters' option to purchase additional shares, or shares of common stock, assuming the underwriters exercise in full their option to purchase additional shares. Unless otherwise indicated, the address for each holder listed below is c/o Atmus Filtration Technologies Inc., 26 Century Boulevard Nashville, Tennessee 37214.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Common stock <br> beneficially owned <br> before this offering  | Common stock <br> beneficially owned <br> before this offering  | Shares of common stock <br> beneficially owned after this <br> offering (assuming no exercise <br> of the underwriters' option to <br> purchase additional shares)  | Shares of common stock <br> beneficially owned after this <br> offering (assuming full exercise <br> of the underwriters' option to <br> purchase additional shares)  |
| Name and address of <br> Beneficial Owner | Number  | %  | Number <br> %  | Number <br> %  |
| **5% stockholder** |  |  |  |  |
| Cummins.  |  | 100.0% |  |  |
|  **Named executive officers and <br> directors**  |  |  |  |  |
| Steph Disher  |  |  |  |  |
| Jack Kienzler  |  |  |  |  |
| Mark Osowick  |  |  |  |  |
| Toni Y. Hickey  |  |  |  |  |
| Charles Masters  |  |  |  |  |
| Sharon Barner  |  |  |  |  |
| R. Edwin Bennett  |  |  |  |  |
| Cristina Burrola  |  |  |  |  |
| Gretchen Haggerty  |  |  |  |  |
| Jane Leipold  |  |  |  |  |
| Stephen Macadam  |  |  |  |  |
| Earl Newsome  |  |  |  |  |
| Tony Satterthwaite  |  |  |  |  |
| Mark Smith  |  |  |  |  |
| Nathan Stoner  |  |  |  |  |
|  All Directors and Executive Officers as a Group (15 persons)  |  |  |  |  |

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#### CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS

#### Relationship with Cummins
Following the separation and this offering, we and Cummins will operate separately, each as a public company. We will enter into a separation agreement with Cummins. In connection with the separation, we will also enter into various other agreements to effect the separation and provide a framework for our relationship with Cummins after the separation, including an employee matters agreement, an intellectual property license agreement, a registration rights agreement, a first-fit supply agreement, an aftermarket supply agreement, a tax matters agreement, a data sharing agreement, a royalty sharing agreement, a transition services agreement and a transitional trademark license agreement. These agreements will provide for the allocation between us and Cummins of Cummins' assets, employees, liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) attributable to periods prior to, at and after our separation from Cummins and will govern certain relationships between us and Cummins after the separation.

The following summaries of each of the agreements listed above are qualified in their entireties by reference to the full text of the applicable agreements which are filed as exhibits to the registration statement of which this prospectus forms a part.

Our related party sales to Cummins were $302.2 million, $266.8 million and $225.5 million for the years ended December 31, 2022, 2021 and 2020, respectively. For further information regarding our historical related party transactions with Cummins, see Note 15, "RELATIONSHIP WITH PARENT AND RELATED PARTIES" to the historical combined financial statements included elsewhere in this prospectus.

#### Separation Agreement
We intend to enter into a separation agreement with Cummins prior to the consummation of this offering. The separation agreement will set forth our agreements with Cummins regarding the principal actions to be taken in connection with the separation. It will also set forth other agreements that govern certain aspects of our relationship with Cummins following the separation and this offering.

 *Transfer of Assets and Assumption of Liabilities* 

The separation agreement will identify assets to be transferred, liabilities to be assumed and contracts to be assigned to each of Cummins and us as part of the separation, and will describe when and how these transfers, assumptions and assignments will occur, though many of the transfers, assumptions and assignments will have already occurred prior to the parties' entering into the separation agreement. The separation agreement will provide for those transfers of assets and assumptions of liabilities that are necessary in connection with the separation so that we and Cummins retain the assets necessary to operate our respective businesses and retain or assume the liabilities allocated in accordance with the separation. The separation agreement will also provide for the settlement or extinguishment of certain liabilities and other obligations between us and Cummins. In particular, the separation agreement will provide that, subject to the terms and conditions contained in the separation agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • "Atmus Assets" (as defined in the separation agreement), including, but not limited to, the equity interests of our subsidiaries, assets reflected on our balance sheet and assets exclusively relating to our business, will be retained by or transferred to us or one of our subsidiaries, except for certain exceptions in the separation agreement or one of the other agreements described below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • "Atmus Liabilities" (as defined in the separation agreement), including, but not limited to, the following will be retained by or transferred to us or one of our subsidiaries:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • all of the liabilities (whether accrued, contingent or otherwise, and subject to certain exceptions) to the extent related to, arising out of or resulting from our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • any and all "Atmus Environmental Liabilities" (as defined in the separation agreement);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • liabilities (whether accrued, contingent or otherwise) reflected on our balance sheet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • liabilities (whether accrued, contingent or otherwise) relating to, arising out of, or resulting from, whether prior to, at or after our separation from Cummins, any infringement, misappropriation or other violation of any intellectual property of any other person related to the conduct of our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • any product liability claims or other claims of third parties to the extent relating to, arising out of or resulting from any product developed, manufactured, marketed, distributed, leased or sold by our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • liabilities relating to, arising out of, or resulting from any indebtedness of any subsidiary of ours or any indebtedness secured exclusively by any of our assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • liabilities (whether accrued, contingent or otherwise) relating to, arising out of or resulting from any form, registration statement, schedule or similar disclosure document filed or furnished with the SEC, to the extent relating to this offering or filed or furnished by us from and after the closing of this offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • all assets and liabilities (whether accrued, contingent or otherwise) of Cummins will be retained by or transferred to Cummins or one of its subsidiaries (other than us or one of our subsidiaries), except as set forth in the separation agreement or one of the other agreements described below and except for certain exceptions in the separation agreement or one of the other agreements described below that will result in us retaining or assuming certain other specified liabilities.

Except to the extent expressly addressed in the separation agreement or an ancillary agreement, the allocation of liabilities with respect to taxes is solely covered by the tax matters agreement described below.

Except as expressly set forth in the separation agreement or any other transaction agreement, all assets will be transferred on an "as-is, where-is" basis, and the respective transferees will bear the economic and legal risks that any conveyance will prove to be insufficient to vest in the transferee good title, free and clear of any security interest, that any necessary consents or governmental approvals are not obtained and that any requirements of laws or judgments are not complied with.

Information in this prospectus with respect to the assets and liabilities of the parties following the separation is presented based on the allocation of such assets and liabilities pursuant to the separation agreement, unless the context otherwise requires. Certain of the liabilities and obligations to be assumed by one party or for which one party will have an indemnification obligation under the separation agreement and the other agreements relating to the separation are, and following the separation may continue to be, the legal or contractual liabilities or obligations of another party. Each such party that continues to be subject to such legal or contractual liability or obligation will rely on the applicable party that assumed the liability or obligation or the applicable party that undertook an indemnification obligation with respect to the liability or obligation, as applicable, under the separation agreement, to satisfy the performance and payment obligations or indemnification obligations with respect to such legal or contractual liability or obligation.

 *Non-Compete* 

We and Cummins will agree to certain non-compete terms, consistent with historical practices, that will limit Cummins and its wholly-owned and controlled affiliates from designing, developing, manufacturing or selling competing products for a period ending at the earlier of five years from separation, the expiration or termination of either the first-fit supply agreement or aftermarket supply agreement, or a change of control event. However, Cummins will be able to re-sell the products it purchases from us. Notwithstanding Cummins' non-compete obligations under the separation agreement, Cummins will have the ability to engage in certain sourcing activities permitted under the first-fit and aftermarket supply agreements. For a discussion of those activities, see "— *First-Fit Supply Agreement*" and "— *Aftermarket Supply Agreement*".

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 *Cash Adjustments* 

As consideration for the filtration business Cummins is contributing to us in connection with the separation, Cummins will receive shares of our common stock, and the net proceeds of the term loan debt financing that we will enter into prior to the closing of this offering. See "*Description of Material Indebtedness*."

 *Further Assurances; Separation of Guarantees* 

To the extent that any transfers of assets or assumptions of liabilities contemplated by the separation agreement have not been consummated on or prior to the date of this offering, the parties will agree to cooperate with each other to effect such transfers or assumptions while holding such assets or liabilities for the benefit of the appropriate party so that all the benefits and burdens relating to such asset or liability inure to the party entitled to receive or assume such asset or liability. Each party will agree to use commercially reasonable efforts to take or to cause to be taken all actions, and to do, or to cause to be done, all things reasonably necessary under applicable law or contractual obligations to consummate and make effective the transactions contemplated by the separation agreement and other transaction agreements. Additionally, we and Cummins will use commercially reasonable efforts to remove us and our subsidiaries as a guarantor of liabilities (including surety bonds) retained by Cummins and its subsidiaries and to remove Cummins and its subsidiaries as a guarantor of liabilities (including surety bonds) to be assumed by us.

 *Shared Contracts* 

Certain shared contracts are to be assigned or amended to facilitate the separation. If such contracts may not be assigned or amended, the parties are required to take reasonable actions to cause the appropriate party to receive the benefit of the contract for a specified period of time after the separation is complete.

 *Release of Claims and Indemnification* 

Except as otherwise provided in the separation agreement or any ancillary agreement, each party will release and forever discharge the other party and its subsidiaries and affiliates from all liabilities existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed on or before the separation. The releases will not extend to obligations or liabilities under any agreements between the parties that remain in effect following the separation pursuant to the separation agreement or any other transaction agreement. These releases will be subject to certain exceptions set forth in the separation agreement.

The separation agreement will provide for cross-indemnities that, except as otherwise provided in the separation agreement, are principally designed to place financial responsibility for the obligations and liabilities allocated to us under the separation agreement with us and financial responsibility for the obligations and liabilities allocated to Cummins under the separation agreement with Cummins. Specifically, each party will indemnify, defend and hold harmless the other party, its affiliates and subsidiaries and each of its officers, directors, employees and agents for any losses arising out of or due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the liabilities or alleged liabilities the indemnifying party assumed or retained pursuant to the separation agreement, including liabilities for the operation of the indemnifying party's business, whether prior to, at, or after this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the assets the indemnifying party assumed or retained pursuant to the separation agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • any breach by the indemnifying party of any provision of the separation agreement or any other transaction agreement unless such other agreement expressly provides for separate indemnification therein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • any untrue statement or alleged untrue statement of a material fact contained in any document filed with the SEC, or any omission or alleged omission to state a material fact required to be

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stated in any document filed with the SEC after this offering and to the extent such statement or omission was made based on information provided by the indemnifying party.

Each party's aforementioned indemnification obligations will be subject to reduction by any insurance proceeds (net of premium increases) received by the party being indemnified. The separation agreement will also specify procedures with respect to claims subject to indemnification and related matters. Indemnification with respect to taxes will be governed by the tax matters agreement except to the extent expressly addressed in the separation agreement or an ancillary agreement. Generally speaking, except as otherwise set forth in any other transaction agreement, absent fraud or willful misconduct by an indemnifying party, these indemnification provisions will be the sole and exclusive remedy of an indemnitee for any monetary or compensatory damages or losses resulting from any breach of the separation agreement or any transaction agreement.

 *Legal Matters* 

Except as otherwise set forth in the separation agreement or any other transaction agreement (or as otherwise described above), each party to the separation agreement will assume the liability for, and control of, all pending, threatened and future legal matters related to its own business or its assumed or retained liabilities and will indemnify the other party for any liability arising out of or resulting from such legal matters.

 *Insurance* 

Following the distribution, we will be responsible for obtaining and maintaining at our distribution cost our own insurance coverage. Additionally, with respect to certain claims arising prior to the separation, we may, at the sole discretion of Cummins, seek coverage under Cummins third-party insurance policies to the extent that coverage may be available thereunder.

 *Subsequent Distribution or Dispositions* 

Cummins has sole discretion in effecting any subsequent distribution of our shares through a spin-off or split-off or effecting any further dispositions of our shares after this offering through one or more public offerings or private sales. We are required to cooperate with Cummins to effect any subsequent distribution or dispositions.

 *Board and Committee Representation* 

For so long as Cummins beneficially owns a majority of the total combined voting power of our outstanding shares with respect to the election of directors, Cummins is entitled to designate a majority of the directors (including the chairman of the board of directors), and we are required to use reasonable best efforts to take advantage of any "controlled company" exemption (including related to director independence) under applicable stock exchange rules. For so long as Cummins beneficially owns less than a majority but at least 10% of the total combined voting power of our outstanding shares with respect to the election of directors, Cummins is entitled to designate a number of directors in proportion to the percentage of total voting power beneficially owned by Cummins. Each Cummins designee will be required to undertake in writing to submit his or her resignation from the board, on the date when Cummins beneficially owns less than 10% of the total combined voting power of our outstanding shares with respect to the election of directors, with such resignations taking effect on the date that the board accepts such resignations. We and Cummins may agree that notwithstanding the foregoing, one Cummins designee may be exempt from such resignation obligation provided that she or he is not otherwise an impermissible "overlapping director" as described further below. Further, for so long as Cummins beneficially owns less than a majority but at least 10% of the total combined voting power of our outstanding shares with respect to the election of directors, Cummins will be obligated to instruct the number of designees that constitute "excess directors" relative to Cummins' then proportional entitlement to designate directors to resign or else cooperate with us to expand the size of the board to align the number of Cummins designees with such proportional entitlement if an excess Cummins designee otherwise does not comply with such instruction.

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For so long as Cummins beneficially owns a majority of the total combined voting power of our outstanding shares with respect to the election of directors, any committee of the board of directors must be comprised of directors at least a majority of which are Cummins designees. For so long as Cummins beneficially owns less than a majority but at least 10% of the total combined voting power of our outstanding shares with respect to the election of directors, any committee of the board of directors must include at least one Cummins designee. The Cummins designees on any committee of the board of directors must comply with the applicable director independence requirements under applicable law, after taking into account any "controlled company" exemption under the stock exchange rules to the extent applicable.

From and after the date that Cummins beneficially owns less than a majority of the total combined voting power of our outstanding shares, (i) in no event will our board of directors include more than one so-called overlapping director, and (ii) to the extent there is such a director, such director will represent no more than a minority share of the overall composition of either the Cummins board of directors or our board of directors. An "overlapping director" is any director that (i) concurrently serves on our board of directors and the Cummins board of directors or (ii) concurrently serves on our board of directors and is a member of the senior management team of Cummins.

 *Financial Reporting Covenants* 

We have agreed to comply with certain covenants relating to our financial reporting for so long as Cummins is required to consolidate our results of operations and financial position or to account for its investment in us under the equity method of accounting. These covenants include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • delivery or supply of monthly, quarterly and annual financial information and annual budgets and financial projections to Cummins;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • conformity with Cummins' financial presentation and accounting policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • disclosure of information about our financial controls to Cummins;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • provision to Cummins of access to our auditors and certain books and records related to internal accounting controls or operations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • cooperation with Cummins to the extent requested by Cummins in the preparation of Cummins' public filings and press releases.

 *Additional Covenants* 

We have agreed to comply with the following additional covenants, among others, for so long as Cummins beneficially owns a majority of the total combined voting power of our outstanding shares with respect to the election of directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • without Cummins' prior written consent, we may not take any action that would restrict Cummins' ability to transfer its shares of our common stock or limit the rights of Cummins as a stockholder of ours in a manner not applicable to our stockholders generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • without Cummins' prior written consent, we may not issue any of our shares (but may issue up to shares of our common stock in connection with equity awards granted pursuant to our 2022 Omnibus Incentive Plan) provided that no issuance of our shares may result in Cummins beneficially owning less than a majority of our outstanding shares of common stock or less than 80% of the total combined voting power of our outstanding shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • to the extent that Cummins is a party to any contracts that provide that certain actions or inactions of Cummins' affiliates may result in Cummins being in breach of such contracts, we may not take any actions that reasonably could result in Cummins being in breach of such contracts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • we are required to take certain actions to comply with anti-corruption law (including to maintain an appropriate compliance and ethics program).

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In addition, prior to the date on which Cummins ceases to beneficially own a majority of our outstanding shares of common stock, we are required to consistently implement and maintain Cummins' business practices and standards in accordance with Cummins' policies and procedures (but may apply materiality thresholds lower than those contained in Cummins' policies and procedures). In such period, we are also prohibited from incurring debt other than the financing contemplated in connection with the closing of this offering and such other unsecured and uncommitted lines of credit made available to us at such time.

 *No Hire and No Solicitation* 

Subject to customary exceptions, neither we nor Cummins will, without the consent of the other party, hire or retain an employee of the other party or its subsidiaries during the period from and after the completion of this offering until 12 months after the date on which Cummins no longer beneficially owns a majority of our outstanding shares of common stock, and neither we nor Cummins will, without the consent of the other party, recruit or solicit an employee of the other party or its subsidiaries for such period.

 *Dispute Resolution* 

If a dispute arises between us and Cummins under the separation agreement, the general counsels of the parties and such other representatives as the parties may designate will negotiate for a reasonable period of time (not to exceed 60 days from the time of a written notice of such dispute is delivered) to resolve disputes. If the parties are unable to resolve the dispute in this manner, then, unless otherwise agreed by the parties, the dispute will be resolved through confidential mediation in a forum agreed upon by the general counsels of the parties. If the parties are unable to resolve the dispute within 60 days following selection of a mediator, then either party will be entitled to pursue such remedies as may be available to it at law or equity otherwise in accordance with the separation agreement.

 *Term/Termination* 

Following completion of the offering, the separation agreement will continue unless terminated by the mutual consent of us and Cummins, although certain rights and obligations may terminate upon a reduction in Cummins' ownership of our outstanding common stock.

 *Treatment of Intercompany Loans and Advances* 

Upon completion of the separation, all loans and advances between Cummins or any subsidiary of Cummins (other than us and our subsidiaries), on the one hand, and us or any of our subsidiaries, on the other hand, will be terminated other than certain loans and advances that are scheduled to the separation agreement to remain outstanding following the separation. All such loans or advances would be settled, terminated or otherwise canceled prior to the distribution.

 *Other Matters Governed by the Separation Agreement* 

Other matters governed by the separation agreement include, confidentiality, privilege, witness services, access to and provision of records, treatment of outstanding guarantees and similar credit support, environmental matters and data privacy and security.

#### Transition Services Agreement
We and Cummins will enter into a transition services agreement that will be effective upon the separation and this offering, pursuant to which Cummins and its subsidiaries and we and our subsidiaries will provide to each other various services. The charges for the transition services generally are expected to allow the providing company to fully recover all out-of-pocket costs and expenses it actually incurs in connection with providing the service, plus, in some cases, the allocated indirect costs of providing the services, generally without profit.

The transition services agreement will terminate on the expiration of the term of the last service provided under it, unless earlier terminated by the parties, provided that no service term will extend

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beyond the earlier of 24 months after Cummins ceases to beneficially own at least a majority of the voting power of our common stock or 30 months after the closing of this offering. If no term period is provided for a specified service, then such service is to terminate on the 24-month anniversary of the closing of this offering, otherwise subject to the terms therein. The recipient for a particular service generally can terminate that service prior to the scheduled expiration date, subject to a minimum notice period equal to 30 days.

We do not expect the net costs associated with the transition services agreement to be materially different than the historical costs that have been allocated to us related to these same services.

#### Tax Matters Agreement
 *Allocation of taxes* 

In connection with the separation and this offering, we and Cummins will enter into a tax matters agreement that will govern the parties' respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes. In general, except with respect to certain transaction taxes triggered by the separation which will be borne by Cummins, under the agreement, we will be responsible for any U.S. federal, state, local or foreign taxes (and any related interest, penalties or audit adjustments) (i) imposed with respect to tax returns that include only us and/or any of our subsidiaries for any periods or portions thereof and (ii) imposed with respect to tax returns filed on a consolidated, combined, unitary or similar basis that include both us and/or any of our subsidiaries, on the one hand, and Cummins or any of its subsidiaries, on the other hand, to the extent such taxes are attributable to our businesses for any periods or portions thereof after the closing of this offering. Neither party's obligations under the agreement will be limited in amount or subject to any cap. The agreement will also assign responsibilities for administrative matters, such as the filing of returns, payment of taxes due, retention of records and conduct of audits, examinations or similar proceedings. In addition, the agreement will provide for cooperation and information sharing with respect to tax matters.

If the distribution is effected, Cummins will generally be responsible for preparing and filing any tax return that includes Cummins or any of its subsidiaries, including those that also include us and/or any of our subsidiaries. We will generally be responsible for preparing and filing any tax returns that include only us and/or any of our subsidiaries.

The party responsible for preparing and filing any tax return will generally have primary authority to control tax contests related to any such tax return. We will generally have exclusive authority to control tax contests with respect to tax returns that include only us and/or any of our subsidiaries. It is expected that following this offering, we and our subsidiaries will be included in the U.S. federal consolidated tax returns of which Cummins is the parent until the distribution or additional sale of our shares, if any.

 *Preservation of the Tax-Free Status of Certain Aspects of the Separation and Distribution* 

We and Cummins intend for the distribution, if pursued, together with certain related transactions, to qualify as transaction that is tax-free to Cummins and Cummins' shareholders under Section 368(a)(1)(D) and 355 of the Code.

Cummins (i) received a private letter ruling from the IRS to the effect that the separation and the distribution will qualify as a "reorganization" for U.S. federal income tax purposes under Sections 368(a)(1)(D) and 355 of the Code, and (ii) if the distribution is pursued, expects to obtain an opinion from a nationally recognized law or accounting firm to the effect that the separation, the distribution, together with certain related transactions, will qualify as a transaction that is tax-free to Cummins and its shareholders for U.S. federal income tax purposes. In connection with the private letter ruling and, if the distribution is pursued, the opinion from a nationally recognized law or accounting firm, we and Cummins have made and will make certain representations regarding the past and future conduct of their respective businesses and certain other matters.

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Pursuant to the tax matters agreement, we will also agree to certain covenants that contain restrictions intended to preserve the tax-free status of the separation, the debt-for-equity exchange and the distribution, if pursued. We may take certain actions prohibited by these covenants only if we obtain and provide to Cummins an opinion from a U.S. tax counsel or accountant of recognized national standing, in either case reasonably satisfactory to Cummins, to the effect that such action would not jeopardize the tax-free status of these transactions, or if we obtain prior written consent of Cummins, in its sole and absolute discretion, waiving such requirement. We will be barred from taking any action, or failing to take any action, where such action or failure to act adversely affects or could reasonably be expected to adversely affect the tax-free status of these transactions, for all relevant time periods.

#### Employee Matters Agreement
We and Cummins will enter into an employee matters agreement that will govern our and Cummins' compensation and employee benefit obligations with respect to our employees and other service providers of each company, and generally will allocate liabilities and responsibilities relating to employment matters and employee compensation and benefit plans and programs. The employee matters agreement will provide for the treatment of outstanding Cummins equity awards and long-term cash awards held by our employees upon completion of the distribution (if pursued), as described in further detail in the section entitled "*Executive and Director Compensation-Compensation Discussion and Analysis*," and will also provide for certain other incentive arrangements.

The employee matters agreement will provide that, following the separation (or a designated plan transition date following the separation, as applicable), our employees generally will no longer "actively" participate in benefit plans sponsored or maintained by Cummins and will commence participation in our benefit plans, which are expected to be generally similar to the existing Cummins benefit plans.

The employee matters agreement also will set forth the general principles relating to employee matters, including with respect to the assignment and transfer of employees, the assumption and retention of liabilities and related assets, workers' compensation, payroll taxes, regulatory filings, leaves of absence, the provision of comparable benefits, employee service credit, the sharing of employee information and the duplication or acceleration of benefits.

#### First-Fit Supply Agreement
Historically, Cummins has purchased our products to incorporate into its engines for first-fit production.

We and Cummins intend to enter into a first-fit supply agreement pursuant to which Cummins will continue to purchase all first-fit filtration products that it currently purchases from us for a term of five-years, and new products currently under development for a term of five-years beginning from the start of production of such products, provided production begins within the initial five-year term of the agreement. As part of Cummins' retained business after the closing of this offering, Cummins and its affiliates will have the right to use, market, distribute or sell the first-fit products it purchases from us or, to the extent first-fit products are awarded to alternative suppliers after the offering, such alternative suppliers, to its customers.

Cummins will be limited from designing, developing, manufacturing or selling competing products in accordance with the non-compete terms under the separation agreement and the exclusivity provisions of the first-fit supply agreement. Nevertheless, Cummins may engage in limited activities necessary and incidental to facilitating the sourcing or purchase of products from alternative suppliers, including without limitation, providing specifications, related drawings, and other documentation, exchanging and testing prototypes, performing product validation and quality testing, participating in design sessions and tooling discussions, requesting quotes to understand associated costs, and negotiating contractual arrangements necessary to source non-awarded products. Further, subject to, and to the extent permitted by, the terms of the non-compete provision in the separation agreement, during the initial 5-year term of the first-fit agreement, Cummins will not otherwise be permitted to engage in the design, development or manufacturing of non-awarded programs or products without reliance on us or alternative suppliers for the manufacturing, development or design of such products.

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Cummins may terminate exclusivity with respect to a particular product if losses during the immediate twenty-four months period preceding the date of a product claim reach the liability limit under the first-fit supply agreement. Upon termination of exclusivity for a particular product, our supply of such product, and only such product, would become non-exclusive and Cummins would be able to procure such product from an alternative supplier. All other terms and conditions of the first-fit supply agreement may remain in place, and we would be able to continue to offer to Cummins such products through the same pricing and terms of the agreement on a non-exclusive basis.

Under the terms of the first-fit supply agreement, we will also be a Cummins preferred supplier and have a strategic partner relationship with Cummins that will allows us to receive significant benefits, including but not limited to: assigned executive sponsors from Cummins that will support our transition as an independent external supplier, joint collaboration sessions among engineering, procurement and commercial teams to assess opportunities associated with future programs, and inclusion in quote requests for new product offerings.

#### Aftermarket Supply Agreement
Cummins has also purchased our products from us for re-sale in the aftermarket, where it may sell our products to our direct or indirect customers.

We and Cummins intend to enter into an aftermarket supply agreement pursuant to which Cummins will continue to purchase all aftermarket filtration products that it currently purchases from us for a term of five-years. This aftermarket supply agreement will provide for continuation of our supply of aftermarket filtration products.

We will be the exclusive supplier of aftermarket products used in connection with the awarded first-fit programs under the first-fit supply agreements. If a program is not awarded to us under the first-fit supply agreement, then Cummins would be permitted to engage in corresponding aftermarket sourcing from alternative suppliers. Cummins will be limited from designing, developing, manufacturing or selling competing products in accordance with the non-compete terms of the separation agreement and the exclusivity provisions of the aftermarket supply agreement. Specifically, Cummins may procure aftermarket products from alternative suppliers for a limited time if we fail to meet certain delivery performance requirements or if we do not offer a product or similar product for sale. To the extent Cummins is permitted to obtain supply of aftermarket products from suppliers other than us under the aftermarket supply agreement, Cummins will be permitted to engage in alternative sourcing conduct comparable to what would be permitted under the first-fit supply agreement for alternative sourcing. As part of Cummins' retained business after this offering, Cummins and its affiliates will have the right to use, market, distribute or sell the aftermarket products it purchases from us or, to the extent permitted to be purchased from alternative suppliers after the offering, such alternative suppliers, to its customers.

Cummins may terminate exclusivity with respect to a particular product if losses during the immediate twenty-four months period preceding the date of a product claim reach the liability limit under the aftermarket supply agreement. Upon termination of exclusivity for a particular product, our supply of such product, and only such product, would become non-exclusive and Cummins would be able to procure such product from an alternative supplier. All other terms and conditions of the aftermarket supply agreement may remain in place, and we would be able to continue to offer to Cummins such products through the same pricing and terms of the agreement on a non-exclusive basis.

#### Intellectual Property License Agreement
We and Cummins will enter into an intellectual property license agreement that will enable worldwide, non-exclusive, non-transferable (except in certain circumstances), non-sublicensable (except in certain circumstances), royalty-free, fully paid-up, perpetual (for as long as enforceable rights in the applicable intellectual property exists) and irrevocable cross-licensing of intellectual property owned by Cummins and us.

#### Data Sharing Agreement
Cummins and Atmus expect to enter into a data sharing agreement prior to the separation, pursuant to which the parties will share certain telematics and other proprietary and non-proprietary data in order

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to evaluate the performance of the engine and filtration system associated with Cummins' products, including engines and gensets. The data sharing agreement is expected to establish each party's use of shared telematics data for the purpose of measuring, evaluating and improving product and service quality. Fees under this agreement are expected to be consistent with industry practices.

#### Transitional Trademark License Agreement
The transitional trademark license agreement will provide that Cummins will grant to us a personal, non-exclusive, non-sublicensable (except in certain circumstances), non-assignable, royalty-free, fully paid-up license to use certain licensed trademarks for an initial period of 36 months after the date on which Cummins ceases to beneficially own a majority, in the aggregate, of the total voting power of our capital stock.

#### Registration Rights Agreement
We intend to enter into a registration rights agreement with Cummins immediately prior to the completion of this offering, pursuant to which we will agree that, upon the request of Cummins, we will use our reasonable best efforts to effect the registration under applicable federal and state securities laws of any shares of our common stock retained by Cummins following this offering.

 *Demand registration* 

Cummins will be able to request registration under the Securities Act of all or any portion of our shares covered by the agreement, and we will be obligated to register such shares as requested by Cummins, subject to limitations on minimum offering size and certain other limited exceptions. We are not required to honor any of these demand registrations if we have effected a registration within the preceding 60 days, other than a shelf registration. Cummins will be able to designate the terms of each offering effected pursuant to a demand registration, which may take any form, including a shelf registration. Cummins is entitled to an unlimited number of demand registrations provided that we are not obligated to conduct more than three demand registrations or underwritten offerings in a twelve-month period.

 *Piggyback registration* 

If we at any time intend to file on our behalf or on behalf of any of our other security holders a registration statement in connection with a public offering of any of our securities on a form and in a manner that would permit the registration for offer and sale of our common stock held by Cummins, Cummins will have the right to include its shares of our common stock in that offering.

 *Registration expenses* 

Cummins or any other holder under the registration rights agreement will be generally responsible for all reasonable, documented and out-of-pocket expenses incurred and paid by us in connection with the performance of our obligations under the registration rights provisions in the registration rights agreement. Cummins or any other holder, as applicable, will be responsible for any applicable underwriting discounts or commissions and any stock transfer taxes. We are responsible for our own internal fees and expenses in connection with the performance of our obligations under the registration rights agreement.

 *Indemnification* 

Generally, the agreement will contain indemnification and contribution provisions by us for the benefit of Cummins and, in limited situations, by Cummins for the benefit of us with respect to the information provided by Cummins included in any registration statement, prospectus or related document.

 *Transfer* 

If Cummins transfers shares covered by the agreement, it will be able to transfer the benefits of the registration rights agreement to transferees of at least 20% of the number of our common stock beneficially owned by Cummins, provided that each transferee agrees to be bound by the terms of the registration rights agreement.

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 *Term* 

The registration rights will remain in effect with respect to any shares covered by the agreement until:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such shares have been sold pursuant to an effective registration statement under the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such shares have been sold to the public pursuant to Rule 144 under the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such shares may be sold to the public pursuant to Rule 144 under the Securities Act without being subject to the volume restrictions in such rule; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • such shares have been sold in a transaction in which the transferee is not entitled to the benefits of the registration rights agreement.

#### Royalty Sharing Agreement
We and Cummins expect to enter into a royalty sharing agreement at the time of separation and this offering that will provide that Cummins will pay Atmus a portion of royalty amounts due to Cummins pursuant to an existing trademark license and endorsement agreement with a third-party, under which Atmus has certain rights relating to trademarks licensed by Cummins, until the earlier of December 31, 2024 or termination of the trademark license and endorsement agreement.

#### Procedures for Approval of Related Party Transactions
We have adopted a written policy on related party transactions. This policy was not in effect when we entered into the transactions described above. Each of the agreements between us and Cummins and its subsidiaries that have been entered into prior to the completion of this offering, and any transactions contemplated thereby, will be deemed to be approved and not subject to the terms of such policy. Under this written related party transactions policy, the governance and nominating committee of the Board is required to review and if appropriate approve all related party transactions, prior to consummation whenever practicable. If advance approval of a related party transaction is not practicable under the circumstances or if our management becomes aware of a related party transaction that has not been previously approved or ratified, the transaction is submitted to the governance and nominating committee at the governance and nominating committee's next meeting. The governance and nominating committee is required to review and consider all relevant information available to it about each related party transaction, and a transaction is considered approved or ratified under the policy if the governance and nominating committee authorizes it according to the terms of the policy after full disclosure of the related party's interests in the transaction. Related party transactions of an ongoing nature are reviewed annually by the governance and nominating committee. The definition of "related party transactions" for purposes of the policy covers the transactions that are required to be disclosed under Item 404(a) of Regulation S-K promulgated under the Exchange Act.

A copy of our related party transaction approval policy will be available on our website upon completion of this offering.

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#### DESCRIPTION OF MATERIAL INDEBTEDNESS
On September 30, 2022, we entered into a credit agreement with Cummins and a syndicate of banks, providing for a five-year $400 million revolving credit facility and a $600 million term loan facility. The credit agreement also allows us to request the incremental commitments on either the revolving credit facility or the term loan of up to $250 million, subject to certain conditions and adjustments. The revolving credit facility and term loan will mature on September 30, 2027. The following summary of the credit agreement is qualified in its entirety by reference to the full text of the credit agreement which is filed as an exhibit to the registration statement of which this prospectus forms a part.

Cummins will initially guarantee all borrowings and other obligations under the credit agreement. Upon the satisfaction of certain collateral and guarantee requirements under the credit agreement on or prior to the date of the distribution, Cummins' guarantee will terminate automatically and immediately unless Cummins elects otherwise.

Borrowings under the credit agreement will bear interest at varying rates. For all borrowings under the credit agreement, we may choose among the following interest rates: (i) solely in the case of U.S. dollar-denominated loans, an interest rate equal to the highest of (1) the prime rate in effect from time to time, (2) the federal funds effective rate in effect from time to time plus 0.5%, (3) adjusted term Secured Overnight Financing Rate ("SOFR") for a one-month interest period plus 1.00%, and (4) 1.00%, in each case plus a rate ranging from 0.125% to 0.750% depending on our net leverage ratio; (ii) an interest rate equal to (1) solely in the case of U.S. dollar-denominated loans, adjusted term SOFR or (2) solely in the case of euro-denominated loans, EURIBOR, as applicable, in each case for the applicable interest period plus a rate ranging from 1.125% to 1.750% depending on our net leverage ratio (the "Applicable Rate"); or (iii) an interest rate equal to (1) solely in the case of U.S. dollar-denominated loans, adjusted daily SOFR or (2) solely in the case of pound sterling-denominated loans, adjusted SONIA, as applicable, in each case plus the Applicable Rate.

Additionally, we will pay (x) a quarterly commitment fee based on the actual daily amount of the available revolving credit facility commitment and (y) a ticking fee (the "ticking fee") based on the commitments under the credit agreement, which shall accrue from September 30, 2022 to but excluding the earliest of (i) the date the conditions to the initial extension of credit under the credit agreement are satisfied or waived (such date, the "credit agreement closing date"), (ii) the date the distribution is consummated, and (iii) the date the commitments with respect to the facilities terminate (such earliest date, the "Ticking Fee Date"). The ticking fee will be payable on (a) February 15, 2023 (the "First Amendment Effective Date"), (b) the last day of each fiscal quarter ending after the First Amendment Effective Date and prior to the Ticking Fee Date, and (c) the Ticking Fee Date).

The term loan is subject to amortization payments, payable by the applicable borrowers in quarterly installments after the credit agreement closing date as follows: 0.0% at the end of each of the first four full fiscal quarters, 2.5% at the end of each of the fifth through eighth full fiscal quarters, and 5.0% at the end of the ninth fiscal quarters and each fiscal quarter occurring thereafter.

We may voluntarily prepay loans and/or reduce the revolving credit facility commitments under the credit agreement, in whole or in part, without premium or penalty, subject to certain minimum amounts and increments and the payment of customary breakage costs. Mandatory prepayments are required under the credit agreement for certain dispositions and casualty events, the net proceeds of which in each case exceed $15 million in the applicable fiscal year, subject to a customary reinvestment exception.

The credit agreement contains customary covenants concerning, among other things, investments, dispositions of assets, indebtedness, liens on assets, and dividends and other distributions. The credit agreement also contains financial covenants requiring (i) our net leverage ratio, determined as of the end of each fiscal quarter, not to exceed 4.00 to 1.00 (or, at our election and subject to certain conditions, 4.50 to 1.00 for the period in which such election is made and the next succeeding three testing periods) and (ii) our interest coverage ratio, determined as of the end of each fiscal quarter, to be at least 3.00 to 1.00.

The credit agreement also contains customary events of default. If an event of default occurs and is continuing, the lenders may, among other things, terminate their obligations under the credit agreement

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and require us to repay all amounts thereunder. In addition, in the case of an event of default arising from certain events of bankruptcy, insolvency or reorganization, the lenders' obligations under the credit agreement will automatically terminate and all amounts outstanding under the credit agreement will automatically become due and payable.

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#### DESCRIPTION OF CAPITAL STOCK
 *In connection with this offering, we have amended and restated our certificate of incorporation and bylaws. Copies of the forms of our amended and restated certificate of incorporation and bylaws are filed as exhibits to the registration statement of which this prospectus forms a part. The provisions of our certificate of incorporation and bylaws and relevant sections of the DGCL are summarized below. The following summary is qualified in its entirety by the provisions of our amended and restated certificate of incorporation and bylaws and is subject to the applicable provisions of the DGCL.* 

#### Authorized Capitalization
Our authorized capital stock consists of 2,000,000,000 shares of common stock, par value $0.0001 per share, and 100,000,000 shares of preferred stock, no par value. Following the completion of this offering, shares of common stock and no shares of preferred stock will be issued and outstanding.

#### Common Stock
Holders of our common stock are entitled to the rights set forth below.

#### Voting Rights
Each outstanding share of our common stock is entitled to one vote on all matters submitted to a vote of our stockholders. Directors will be elected by a plurality of the votes entitled to be cast. Our stockholders do not have cumulative voting rights. The affirmative vote of holders of at least seventy- five percent (75%) of the total voting power of the outstanding shares of all classes of our capital stock is required to amend the sections of our amended and restated certificate of incorporation and bylaws related to (i) our board of directors, including related to our classified board and the removal of directors only for cause; (ii) our stockholders, including related to the inability of stockholders to call special meetings of stockholders and the inability of stockholders to act by written consent; (iii) the ability our board of directors and our stockholders to amend or repeal our bylaws.

Except as otherwise provided in our amended and restated certificate of incorporation or as required by law, all matters to be voted on by our stockholders (other than matters relating to the election of directors and the matters referenced above) will be approved if votes cast in favor of the matter exceed the votes cast opposing the matter at a meeting at which a majority of the outstanding shares entitled to vote on such matter is represented in person or by proxy.

#### Dividend Rights
Holders of our common stock will share equally in any dividend declared by our board of directors, subject to the rights of the holders of any outstanding preferred stock.

#### Liquidation Rights
In the event of any voluntary or involuntary liquidation, dissolution or winding up of our affairs, holders of our common stock will be entitled to share ratably in our assets that are legally available for distribution to stockholders. If we have any preferred stock outstanding at such time, holders of the preferred stock may be entitled to distribution and/or liquidation preferences. In either such case, we must pay the applicable distribution to the holders of our preferred stock before we may pay distributions to the holders of our common stock.

#### Registration Rights
 *Cummins is entitled to certain rights relating to the registration of our shares of common stock pursuant to a registration rights agreement. See "Certain Relationships and Related Party Transactions — Relationship with Cummins — Registration Rights Agreement."* 

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#### Other Rights
Our stockholders have no preemptive or other rights to subscribe for additional shares. All outstanding shares are, and all shares offered by this prospectus will be, when sold, validly issued, fully paid and nonassessable.

#### Preferred Stock
Our board of directors is authorized to provide for one or more series of preferred stock and to fix the terms of such preferred stock, including the preferences, powers and relative, participating, optional or other special rights and qualifications, limitations or restrictions thereof, including the dividend rate, conversion rights, voting rights, redemption rights and liquidation preferences and to fix the number of shares to be included in any such series without any further vote or action by our stockholders. Any preferred stock so issued may rank senior to our common stock with respect to the payment of dividends or amounts upon liquidation, dissolution or winding up, or both. In addition, any such shares of preferred stock may have class or series voting rights. The issuance of preferred stock may have the effect of delaying, deferring or preventing a change in control of our company without further action by the stockholders and may adversely affect the voting and other rights of the holders of our common stock. Our board of directors has not authorized the issuance of any shares of preferred stock, and we have no agreements or plans for the issuance of any shares of preferred stock.

#### Anti-Takeover Effects of Various Provisions of Delaware Law and Our Amended and Restated Certificate of Incorporation and our Bylaws
Provisions of the DGCL and our amended and restated certificate of incorporation and bylaws could make it more difficult to acquire us by means of a tender offer, a proxy contest or otherwise, or to remove incumbent officers and directors. These provisions, summarized below, are expected to discourage certain types of coercive takeover practices and takeover bids that board of directors may consider inadequate and to encourage persons seeking to acquire control of us to first negotiate with board of directors. We believe that the benefits of increased protection of its ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure it outweigh the disadvantages of discouraging takeover or acquisition proposals because, among other things, negotiation of these proposals could result in an improvement of their terms.

 *Delaware Anti-Takeover Statute* 

We are subject to Section 203 of the DGCL, an anti-takeover statute. In general, Section 203 of the DGCL prohibits a publicly held Delaware corporation from engaging in a "business combination" with an "interested stockholder" for a period of three years following the time the person became an interested stockholder, unless (i) prior to such time, the board of directors of such corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder; (ii) upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of such corporation at the time the transaction commenced (excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) the voting stock owned by directors who are also officers or held in employee benefit plans in which the employees do not have a confidential right to tender or vote stock held by the plan); or (iii) on or subsequent to such time the business combination is approved by the board of directors of such corporation and authorized at a meeting of stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock of such corporation not owned by the interested stockholder. Generally, a "business combination" includes a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. Generally, an "interested stockholder" is a person who, together with affiliates and associates, owns (or within three years prior to the determination of interested stockholder status did own) 15% or more of a corporation's voting stock. The existence of this provision would be expected to have an anti-takeover effect with respect to transactions not approved in advance by the board of directors, including discouraging attempts that might result in a premium over the market price for the shares of our common stock held by our stockholders.

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A Delaware corporation may "opt out" of Section 203 with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation or by-laws resulting from amendments approved by holders of at least a majority of the corporation's outstanding voting shares. We have not elected to "opt out" of Section 203. However, Cummins and its affiliates have been approved by our board of directors as an interested stockholder (as defined in Section 203 of the DGCL) and therefore are not subject to Section 203. For so long as Cummins beneficially owns a majority of the total combined voting power of our outstanding shares, and therefore has the ability to designate a majority of our board of directors, directors designated by Cummins to serve on our board of directors would have the ability to pre-approve other parties, including potential transferees of Cummins' shares of our common stock, so that Section 203 would not apply to such other parties.

 *Classified Board* 

Our amended and restated certificate of incorporation and bylaws provide that our board of directors is divided into three classes. The directors designated as Class I directors have terms expiring at the first annual meeting of stockholders following this offering, which we expect will be held in 2024. The directors designated as Class II directors have terms expiring at the following year's annual meeting of stockholders, which we expect will be held in 2025, and the directors designated as Class III directors have terms expiring at the following year's annual meeting of stockholders, which we expect will be held in 2026. Commencing with the first annual meeting of stockholders following the offering, directors for each class will be elected at the annual meeting of stockholders held in the year in which the term for that class expires and thereafter will serve for a term of three years. Under these classified board provisions, it would take at least two elections of directors for any individual or group to gain control of our board of directors. Accordingly, these provisions could discourage a third party from initiating a proxy contest, making a tender offer or otherwise attempting to gain control of us.

 *Removal of Directors* 

Our amended and restated certificate of incorporation and bylaws provide that our stockholders may remove our directors only for cause, by an affirmative vote of at least seventy- five percent (75%) of the total voting power of outstanding shares of all classes of our capital stock entitled to vote thereon, after Cummins no longer owns a majority of the outstanding shares of our common stock. Until such time as Cummins ceases to beneficially own a majority of the total voting power of the outstanding shares, any director or our entire board of directors may be removed from office at any time, with or without cause, by an affirmative vote of a majority of the total voting power of the outstanding shares of all classes of our capital stock.

 *Amendments to Amended and Restated Certificate of Incorporation and Bylaws* 

Our amended and restated certificate of incorporation and bylaws provide that, from and after such time as Cummins ceases to beneficially own a majority of our outstanding common stock, the sections of our amended and restated certificate of incorporation and bylaws that relate to (i) our board of directors, including related to our classified board and the removal of directors only for cause; (ii) our stockholders, including related to the inability of stockholders to call special meetings of stockholders and the inability of stockholders to act by written consent; and (iii) the ability our board of directors and our stockholders to amend or repeal our bylaws may only be amended by the affirmative vote of holders of at least seventy-five percent (75%) of the total voting power of the outstanding shares of all classes of our capital stock then entitled to vote thereon.

 *Size of Board and Vacancies* 

Our bylaws provide that the size of our board of directors will be fixed by resolution of our board of directors from time to time. Currently, our board of directors has fixed its size at eleven directors. Until such time as Cummins ceases to beneficially own a majority of the total voting power of the outstanding shares, a majority of stockholders or a majority of directors then in office who are employees of Cummins can fill newly-created directorships or vacancies on our board of directors. Thereafter, any vacancies created in our board of directors resulting from any increase in the authorized number of

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directors or the death, resignation, retirement, disqualification, removal from office or other cause will be filled by a majority of the directors then in office, even if less than a quorum is present, or by a sole remaining director. Any director appointed to fill a vacancy on our board of directors will hold office until the earlier of the expiration of the term of office of the director whom he or she has replaced, a successor is duly elected and qualified or the earlier of such director's death, resignation or removal.

 *Special Stockholder Meetings* 

Our amended and restated certificate of incorporation and bylaws provide that special meetings of the stockholders may be called at any time by our board of directors or the chair of our board of directors.

Our amended and restated certificate of incorporation and bylaws also provide that, until such time as Cummins ceases to beneficially own a majority of the total voting power of the outstanding shares of all classes of our capital stock entitled to vote in elections of directors, our stockholders holding a majority of the voting power of our outstanding shares may call a special meeting. Our amended and restated certificate of incorporation and bylaws further provide that, from and after such time as Cummins ceases to beneficially own a majority of the total voting power of the outstanding shares of all classes of our capital stock entitled to vote in elections of directors, the ability of the stockholders to call a special meeting is denied.

 *Stockholder Action by Written Consent* 

Our amended and restated certificate of incorporation provides that, until such time as Cummins ceases to beneficially own a majority of the total voting power of the outstanding shares of all classes of our capital stock entitled to vote in elections of directors, our stockholders holding the minimum number of votes that would be necessary to take action at a meeting may act by written consent. Our amended and restated certificate of incorporation, from and after such time as Cummins ceases to beneficially own a majority of the total voting power of the outstanding shares of all classes of our capital stock entitled to vote in elections of directors, expressly eliminates the right of our stockholders to act by written consent. From and after such time, stockholder action must take place at the annual or a special meeting of our stockholders.

 *Requirements for Advance Notification of Stockholder Nominations and Proposals* 

Our bylaws establish advance notice procedures with respect to stockholder proposals and nomination of candidates for election as directors as well as minimum qualification requirements for stockholders making the proposals or nominations. Additionally, our bylaws require that candidates for election as director disclose their qualifications and make certain representations.

 *No Cumulative Voting* 

The DGCL provides that stockholders are denied the right to cumulate votes in the election of directors unless our company's certificate of incorporation provides otherwise. Our amended and restated certificate of incorporation does not provide for cumulative voting.

 *Undesignated Preferred Stock.* 

The authority that our board of directors possesses to issue preferred stock could potentially be used to discourage attempts by third parties to obtain control of us through a merger, tender offer, proxy contest or otherwise by making such attempts more difficult or more costly. Our board of directors may be able to issue preferred stock with voting rights or conversion rights that, if exercised, could adversely affect the voting power of the holders of common stock.

#### Conflicts of Interest
In order to address potential conflicts of interest between us and Cummins, our amended and restated certificate of incorporation contains certain provisions regulating and defining the conduct of our affairs to the extent that they may involve Cummins and its directors, officers and/or employees and

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our rights, powers, duties and liabilities and those of our directors, officers, employees and stockholders in connection with our relationship with Cummins. In general, these provisions recognize that we and Cummins may engage in the same or similar business activities and lines of business or have an interest in the same areas of corporate opportunities and that we and Cummins will continue to have contractual and business relations with each other, including directors, officers and/or employees of Cummins serving as our directors, officers and/or employees.

#### Limitations on Liability, Indemnification of Officers and Directors and Insurance
The DGCL authorizes corporations to limit or eliminate the personal liability of directors and certain officers to corporations and their stockholders for monetary damages for breaches of their respective fiduciary duties as directors or officers, and our amended and restated certificate of incorporation and bylaws include such an exculpation provision. Our amended and restated certificate of incorporation and bylaws include provisions that indemnify, to the fullest extent allowable under the DGCL, the personal liability of directors or officers for monetary damages for actions taken as our director or officer, or for serving at our request as a director or officer or another position at another corporation or enterprise, as the case may be. Our amended and restated certificate of incorporation and bylaws also provide that we must indemnify and advance reasonable expenses to our directors and officers.

The limitation of liability and indemnification provisions in our amended and restated certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against our directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders. However, these provisions will not limit or eliminate our rights, or those of any stockholder, to seek non-monetary relief such as injunction or rescission in the event of a breach of a director's or officer's duty of care. The provisions will not alter the liability of directors or officers under the federal securities laws. In addition, your investment may be adversely affected to the extent that, in a class action or direct suit, we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. There is currently no pending material litigation or proceeding against us or any of our directors, officers or employees for which indemnification is sought.

#### Exclusive Forum

#### Authorized but Unissued Shares
Our authorized but unissued shares of common stock and preferred stock will be available for future issuance without stockholders approval. We may use additional shares for a variety of purposes, including future public offerings to raise additional capital, to fund acquisitions and as employee compensation. As noted above, the existence of authorized but unissued shares of common stock and preferred stock could also render more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

#### Listing
We intend to apply to have our common stock listed on the NYSE under the symbol "ATMU."

#### Transfer Agent and Registrar
The transfer agent and registrar for our common stock is Broadridge Financial Solutions, Lake Success, New York.

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#### SHARES ELIGIBLE FOR FUTURE SALE
We cannot predict with certainty the effect, if any, that market sales of shares of our common stock or the availability of shares of our common stock for sale will have on the market price prevailing from time to time. We also cannot predict with certainty whether or when the distribution will occur or Cummins will otherwise sell its remaining shares of our common stock. The sale or other availability of substantial amounts of our common stock in the public market or the perception that such sales could occur could adversely affect the prevailing market price of the common stock and our ability to raise equity capital in the future.

Upon completion of this offering, we will have shares of common stock outstanding. Subject to any restrictions under the lock-up agreements, other contractual restrictions on resale and the provisions of Rule 144 described below, all of the shares of our common stock to be sold in this offering will be freely tradable without restriction or further registration under the Securities Act.

#### Lock-Up Arrangements and Registration Rights
In connection with this offering, we, each of our directors and executive officers and Cummins will enter into lock-up agreements that restrict the sale of our securities for up to 180 days after the date of this prospectus, subject to certain exceptions or an extension in certain circumstances.

In addition, following the expiration of the lock-up period, Cummins will have the right, subject to certain conditions, to require us to register the sale of its shares of our common stock under federal securities laws. See "*Certain Relationships and Related Party Transactions — Registration Rights Agreement*."

Following the lock-up periods described above, all of the shares of our common stock that are restricted securities or are held by Cummins as of the date of this prospectus will be eligible for sale in the public market in compliance with Rules 144 or 701 under the Securities Act.

#### Rule 144
The shares of our common stock sold in this offering will generally be freely transferable without restriction or further registration under the Securities Act, except that any shares of our common stock held by an "affiliate" of ours may not be resold publicly except in compliance with the registration requirements of the Securities Act or under an exemption under Rule 144 or otherwise. Rule 144 permits our common stock that has been acquired by a person who is an affiliate of ours, or has been an affiliate of ours within the past three months, to be sold into the market in an amount that does not exceed, during any three-month period, the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • one percent of the total number of shares of our common stock outstanding; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the average weekly reported trading volume of our common stock for the four calendar weeks prior to the sale.

Such sales are also subject to specific manner of sale provisions, a six-month holding period requirement (or a one-year holding period if the sale occurs within 90 days of the date of this prospectus), notice requirements and the availability of current public information about us.

Rule 144 also provides that a person who is not deemed to have been an affiliate of ours at any time during the three months preceding a sale, and who has for at least six months (or one year if the sale occurs within 90 days of the date of this prospectus) beneficially owned shares of our common stock that are restricted securities, will be entitled to freely sell such shares of our common stock subject only to the availability of current public information regarding us. A person who is not deemed to have been an affiliate of ours at any time during the three months preceding a sale, and who has beneficially owned for at least one year shares of our common stock that are restricted securities, will be entitled to freely sell such shares of our common stock under Rule 144 without regard to the current public information requirements of Rule 144.

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#### Additional Registration Statements
We intend to file a registration statement on Form S-8 under the Securities Act to register an aggregate of shares of our common stock to be issued or reserved for issuance under our equity incentive plans. Such registration statement is expected to be filed soon after the date of this prospectus and will automatically become effective upon filing with the SEC. Accordingly, shares registered under such registration statement will be available for sale in the open market, unless such shares are subject to vesting restrictions with us or the lock-up restrictions described above.

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#### MATERIAL UNITED STATES FEDERAL INCOME AND ESTATE TAX CONSIDERATIONS FOR NON-U.S. HOLDERS
The following are the material U.S. federal income and estate tax consequences of the ownership and disposition of our common stock acquired in this offering by a "Non-U.S. Holder" that holds such common stock as a "capital asset" within the meaning of Section 1221 of the Internal Revenue Code of 1986, as amended (the "Code") and that does not own, and has not owned, actually or constructively, more than 5% of our common stock. You are a Non-U.S. Holder if for U.S. federal income tax purposes you are a beneficial owner of our common stock that is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a nonresident alien individual;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a foreign corporation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • a foreign estate or trust.

You are not a Non-U.S. Holder if you are a nonresident alien individual present in the United States for 183 days or more in the taxable year of disposition, or if you are a former citizen or former resident of the United States for U.S. federal income tax purposes. If you are such a person, you should consult your tax advisor regarding the U.S. federal income tax consequences of the ownership and disposition of our common stock.

If you are a partnership for U.S. federal income tax purposes, the U.S. federal income tax treatment of a partner will generally depend on the status of the partner and your activities.

This discussion is based on the Code, final, temporary and proposed Treasury regulations promulgated thereunder, administrative pronouncements, judicial decisions and interpretations of the foregoing, all as of the date hereof and all of which are subject to change, possibly with retroactive effect. This discussion is for general purposes only and does not describe all of the tax consequences that may be relevant to you in light of your particular circumstances, including alternative minimum tax and Medicare contribution tax consequences and does not address all of the tax consequences that may be relevant to you in light of your particular circumstances, nor does it discuss special tax provisions, which may apply to you if you are subject to special treatment under U.S. federal income tax laws, such as for certain financial institutions or financial services entities, insurance companies, tax-exempt entities, tax-qualified retirement plans, "qualified foreign pension funds" (and entities all of the interests of which are held by qualified foreign pension funds), dealers in securities or currencies, traders in securities that elect mark-to-market treatment, entities that are treated as partnerships or other pass-through entities for U.S. federal income tax purposes (and partners or beneficial owners therein), "controlled foreign corporations," "passive foreign investment companies," persons that have a "functional currency" other than the U.S. dollar, corporations that accumulate earnings to avoid U.S. federal income tax, accrual method taxpayers who are required to recognize income for U.S. federal income tax purposes no later than when such income is taken into account in applicable financial statements, persons deemed to sell common stock under the constructive sale provisions of the Code, and persons that hold common stock as part of a straddle, hedge, conversion transaction, or other integrated investment. In addition, this summary does not address any aspect of any state, local or foreign taxes or any U.S. federal tax laws other than U.S. federal income and estate tax laws.

You are urged to consult your own tax advisor concerning the application of U.S. federal income tax laws to your particular situation, as well as the application of any state, local, foreign income and other tax laws and tax treaties.

 **INVESTORS CONSIDERING THE PURCHASE OF OUR COMMON STOCK ARE URGED TO CONSULT THEIR OWN TAX ADVISORS REGARDING THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AND THE CONSEQUENCES OF OTHER FEDERAL, STATE, LOCAL AND FOREIGN TAX LAWS, AND APPLICABLE TAX TREATIES.** 

#### Distributions on Common Stock
The payment of any dividends in the future, and the timing and amount thereof, is within the discretion of the Board (as discussed in the section entitled "*Dividend Policy*"). If we pay distributions

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on shares of our common stock, such distributions will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. Distributions in excess of our current and accumulated earnings and profits will constitute a return of capital, which will first reduce your basis in our common stock, but not below zero, and then will be treated as gain realized on the sale or other disposition of our common stock. See "— *Dispositions of Common Stock*," below.

Dividends paid to you will generally be subject to U.S. federal withholding tax at a 30% rate. The withholding tax might not apply, however, or might apply at a reduced rate, under the terms of an applicable income tax treaty. You are urged to consult your own tax advisors regarding your entitlement to benefits under a relevant income tax treaty. In order to obtain a reduced rate of withholding (subject to the discussion below under "— *Other Withholding Taxes*"), you will be required to provide us or our agent a properly executed applicable Internal Revenue Service ("IRS") Form W-8BEN-E (or other applicable form or documentation) certifying your entitlement to such a reduced rate under a treaty. If you hold the stock through a financial institution or other agent acting on your behalf, you will be required to provide appropriate documentation to the agent. Even if our current or accumulated earnings or profits are less than the amount of the distribution, the applicable withholding agent may elect to treat the entire distribution as a dividend for U.S. federal withholding tax purposes. A non-U.S. holder that does not timely furnish the required documentation, but that qualifies for a reduced treaty rate, may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS.

If dividends paid to you are effectively connected with the conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base maintained in the United States), you will generally be taxed on the dividends at the same graduated tax rates applicable to U.S. persons after taking into account certain deductions and credits. In addition, such effectively connected dividends received by corporate non-U.S. holders may also be subject to the branch profits tax at a rate of 30% or such lower rate as may be specified by an applicable income tax treaty. Dividends that are effectively connected with a U.S. trade or business are exempt from the withholding tax discussed in the preceding paragraph, although you will be required to provide us or the agent with a valid IRS Form W-8ECI properly certifying such exemption.

The foregoing discussion is subject to the discussion below under "— *Backup Withholding and Information Reporting*" and "— *Other Withholding Taxes*."

#### Dispositions of Common Stock
Subject to the discussion below under "— *Backup Withholding and Information Reporting*" and "— *Other Withholding Taxes*" you generally will not be subject to U.S. federal income or withholding tax on gain realized on a sale or other taxable disposition of our common stock, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • the gain is effectively connected with your conduct of a trade or business in the United States (and if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base maintained by you in the United States (in which case the special rules described below apply); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • we are or have been a "United States real property holding corporation" (a "USRPHC"), for U.S. federal income tax purposes at any time during the five-year period ending on the date of disposition of our common stock and the non-U.S. holder's holding period for our common stock, whichever is shorter.

Generally, a corporation is a USRPHC if the fair market value of its "United States real property interests" equals 50% or more of the sum of the fair market value of (a) its worldwide real property interests and (b) its other assets used or held for use in a trade or business. The tax relating to stock in a USRPHC does not apply to a Non-U.S. Holder whose holdings, actual and constructive, amount to 5% or less of our common stock at all times during the applicable period, provided that our common stock is regularly traded on an established securities market. No assurance can be provided that our common stock will be regularly traded on an established securities market at all times for purposes of the rules described above. Although there can be no assurances in this regard, we believe we have not been and

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are not currently a USRPHC, and do not anticipate being a USRPHC in the future. You are urged to consult your own tax advisor about the consequences that could result if we are, or become, a USRPHC.

If you recognize gain on a sale or other disposition of our common stock that is effectively connected with your conduct of a trade or business in the United States (and if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base maintained by you in the United States), you will generally be taxed on such gain in the same manner as a U.S. person. You should consult your tax adviser with respect to other U.S. tax consequences of the ownership and disposition of our common stock, including the possible imposition of a branch profits tax at a rate of 30% (or a lower treaty rate) if you are a corporation.

#### Backup Withholding and Information Reporting
Information returns are required to be filed with the IRS in connection with payments of dividends on our common stock. Unless you comply with certification procedures to establish that you are not a U.S. person, information returns may also be filed with the IRS in connection with the proceeds from a sale or other disposition of our common stock. Copies of information returns that are filed with the IRS may also be made available under the provisions of an applicable treaty or agreement to the tax authorities of the country in which the Non-U.S. Holder resides or is established.

You may be subject to backup withholding on payments on our common stock or on the proceeds from a sale or other disposition of our common stock unless you comply with certification procedures to establish that you are not a U.S. person or otherwise establish an exemption. Your provision of a properly executed applicable IRS Form W-8 certifying your non-U.S. status will permit you to avoid backup withholding. Amounts withheld under the backup withholding rules are not additional taxes and may be refunded or credited against your U.S. federal income tax liability, provided the required information is timely furnished to the IRS.

#### Other Withholding Taxes
Provisions of the Code commonly referred to as "FATCA" require withholding (separate and apart from, but without duplication of, the withholding tax described above) of 30% on payments of dividends on our common stock paid to "foreign financial institutions" (which is broadly defined for this purpose and in general includes investment vehicles) and certain other non-U.S. entities unless various U.S. information reporting and due diligence requirements (generally relating to ownership by U.S. persons of interests in or accounts with those entities) have been satisfied, or an exemption applies. An intergovernmental agreement between the United States and an applicable foreign country may modify these requirements. If FATCA withholding is imposed, a beneficial owner that is not a foreign financial institution generally will be entitled to a refund of any amounts withheld by filing a U.S. federal income tax return containing the required information (which may entail significant administrative burden). While rules requiring FATCA withholding with respect to gross proceeds of certain dispositions of our common stock were scheduled to become effective before this offering, in 2018 the U.S. Treasury released proposed regulations which, if finalized in their present form, would eliminate this gross proceeds federal withholding tax. In its preamble to the proposed regulations, the U.S. Treasury stated that taxpayers may generally rely on the proposed regulations until final regulations are issued. You should consult your tax advisor regarding the effects of FATCA on your investment in our common stock.

#### U.S. Federal Estate Tax
Individual Non-U.S. Holders and entities the property of which is potentially includible in such an individual's gross estate for U.S. federal estate tax purposes (for example, a trust funded by such an individual and with respect to which the individual has retained certain interests or powers), should note that, absent an applicable treaty exemption, our common stock will be treated as U.S.-situs property subject to U.S. federal estate tax.

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THE PRECEDING DISCUSSION OF U.S. FEDERAL INCOME AND ESTATE TAX CONSIDERATIONS IS FOR GENERAL INFORMATION ONLY. IT IS NOT TAX ADVICE. EACH PROSPECTIVE INVESTOR IS URGED TO CONSULT ITS OWN TAX ADVISOR REGARDING THE PARTICULAR U.S. FEDERAL, STATE, LOCAL AND FOREIGN TAX CONSEQUENCES OF OWNING AND DISPOSING OF OUR COMMON STOCK, INCLUDING THE CONSEQUENCES OF ANY PROPOSED CHANGE IN APPLICABLE LAWS AND TREATIES.

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#### UNDERWRITING (CONFLICTS OF INTEREST)
The debt-for-equity exchange parties are offering the shares of common stock described in this prospectus through a number of underwriters. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the representatives of the underwriters. We, Cummins, and the debt-for-equity exchange parties expect to enter into an underwriting agreement with the underwriters named below with respect to the shares being offered. Subject to certain conditions, the debt-for-equity exchange parties have agreed to sell to the underwriters, and each underwriter has severally agreed to purchase, the number of shares indicated in the following table.

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| | | |
|:---|:---|:---|
| Underwriters  | Total Number of <br> Firm Shares <br> to be Purchased  | Number of <br> Optional <br> Shares to be <br> Purchased if <br> Maximum Option <br> Exercised  |
| Goldman Sachs & Co. LLC  |  |  |
| J.P. Morgan Securities LLC  |  |  |
| Robert W. Baird & Co. Incorporated  |  |  |
| BofA Securities, Inc.  |  |  |
| Wells Fargo Securities, LLC  |  |  |
| &nbsp;&nbsp;&nbsp; Total  |  |  |

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The underwriters are committed to take and pay for all of the shares being offered, if any are taken, other than the shares covered by the option described below unless and until this option is exercised.

The underwriters have an option to buy up to an additional shares from the debt-for-equity exchange parties to cover sales by the underwriters of a greater number of shares than the total number set forth in the table above. They may exercise that option for 30 days. If any shares are purchased pursuant to this option, the underwriters will severally purchase shares in approximately the same proportion as set forth in the table above.

The following table shows the per share and total underwriting discounts and commissions to be paid by the debt-for-equity exchange parties to the underwriters. Such amounts are shown assuming both no exercise and full exercise of the underwriters' option to purchase additional shares.

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| | | |
|:---|:---|:---|
| Paid by the debt-for-equity exchange parties<sup>(1)</sup>  | No Exercise  | Full Exercise  |
| Per Share  |  | $&nbsp;&nbsp;&nbsp; |
| Total  |  | $&nbsp;&nbsp;&nbsp; |

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(1) The debt-for-equity exchange parties will acquire the total number of shares being sold in this offering, including any shares sold pursuant to the underwriters' option to purchase additional shares, in the debt-for-equity exchange. For purposes of determining the amount of Cummins indebtedness that Cummins will receive from the debt-for-equity exchange parties in exchange for such shares, Cummins expects that the debt obligations will be valued at the fair market value on the date of this prospectus, and the aggregate fair market value of the debt obligations to be exchanged will equal the aggregate initial public offering price of such shares less the aggregate underwriting discounts and commissions for such shares, each as shown on the cover page of this prospectus. Cummins may be deemed to have paid such underwriting discounts and commissions for U.S. securities law purposes.

Shares sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover of this prospectus. Any shares sold by the underwriters to securities dealers may be sold at a discount of up to $ per share from the initial public offering price. After the initial offering of the shares, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC may change the offering price and the other selling terms. The offering of the shares by the underwriters is subject to receipt and acceptance and subject to the underwriters' right to reject any order in whole or in part.

We, our executive officers and directors and Cummins have agreed with the underwriters, subject to certain exceptions, not to dispose of or hedge any shares of our common stock or securities convertible

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into or exchangeable for shares of our common stock during the period from the date of this prospectus continuing through the date that is 180 days after the date of this prospectus, except with the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC. See "*Shares Eligible for Future Sale*" for a discussion of certain transfer restrictions.

Prior to the offering, there has been no public market for the shares. The initial public offering price will be negotiated between us, the debt-for-equity exchange parties and Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC. Among the factors to be considered in determining the initial public offering price of the shares, in addition to prevailing market conditions, will be our historical performance, estimates of our business potential and earnings prospects, an assessment of management and the consideration of the above factors in relation to market valuation of companies in related businesses.

An application will be made to list our common stock on the NYSE under the symbol "ATMU."

The underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to the underwriters a portion of the underwriting discount received by it because Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC have repurchased shares sold by or for the account of such underwriter in stabilizing or short covering transactions.

Purchases to cover a short position and stabilizing transactions, as well as other purchases by the underwriters for their own accounts, may have the effect of preventing or retarding a decline in the market price of our common stock, and together with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of our common stock. As a result, the price of our common stock may be higher than the price that otherwise might exist in the open market. The underwriters are not required to engage in these activities and may end any of these activities at any time. These transactions may be effected on the NYSE, in the over-the-counter market or otherwise.

We estimate that our share of the total expenses of the offering, excluding underwriting discounts and commissions, will be approximately $ million. We have agreed to reimburse the underwriters for certain expenses related to this offering in the amount up to $.

We, Cummins, and the debt-for-equity exchange parties have agreed to indemnify the several underwriters against certain liabilities, including liabilities under the Securities Act, or to contribute to payments the underwriters may be required to make in respect of those liabilities.

The underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include sales and trading, commercial and investment banking, advisory, investment management, investment research, principal investment, hedging, market making, brokerage and other financial and non-financial activities and services. Certain of the underwriters and their

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respective affiliates have provided, and may in the future provide, a variety of these services to Cummins and its subsidiaries, including us, and to persons and entities with relationships with Cummins and its subsidiaries, including us, for which they received or will receive customary fees and expenses. Certain underwriters (not in their capacity as such) or their affiliates have separately been engaged to advise Cummins in connection with a strategic review of its filtration business, including the distribution.

In the ordinary course of their various business activities, the underwriters and their respective affiliates, officers, directors and employees may purchase, sell or hold a broad array of investments and actively traded securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for their own account and for the accounts of their customers, and such investment and trading activities may involve or relate to our assets, securities and/or instruments (directly, as collateral securing other obligations or otherwise) and/or persons and entities with relationships with us. The underwriters and their respective affiliates may also communicate independent investment recommendations, market color or trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets, securities and instruments.

Certain of the underwriters and their affiliates have provided in the past to us and our affiliates and may provide from time to time in the future certain commercial banking, financial advisory, investment banking and other services for us and such affiliates in the ordinary course of their business, for which they have received and may continue to receive customary fees and commissions. In addition, from time to time, certain of the underwriters and their affiliates may effect transactions for their own account or the account of customers, and hold on behalf of themselves or their customers, long or short positions in our debt or equity securities or loans, and may do so in the future. In addition, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will be the debt-for-equity exchange parties described below.

#### The debt-for-equity exchange
It is expected that Cummins and the debt-for-equity exchange parties will enter into a debt-for-equity exchange agreement. Under the debt-for-equity exchange agreement, subject to certain conditions, the debt-for-equity exchange parties, as principals for their own account, will exchange debt obligations of Cummins held by the debt-for-equity exchange parties for the shares of our common stock to be sold in this offering. The debt-for-equity exchange parties will then sell the shares to the underwriters for cash. The debt-for-equity exchange between Cummins and the debt-for-equity exchange parties is expected to occur on or before the settlement date of this offering, and the consummation of the debt-for-equity exchange is a condition to the settlement of the debt-for-equity exchange parties' sale of the shares to the underwriters. If the underwriters exercise their option to purchase additional shares of common stock from the debt-for-equity exchange parties, Cummins will exchange such additional shares of common stock for additional outstanding indebtedness of Cummins held by the debt-for-equity exchange parties. The debt-for-equity exchange parties will then sell such additional shares of common stock to the underwriters for cash.

We expect that the indebtedness of Cummins held by the debt-for-equity exchange parties will have an aggregate principal amount of at least $ based on a maximum assumed initial public offering price of $ per share, which is the high point of the price range set forth on the cover of this prospectus. The amount of indebtedness of Cummins held by the debt-for-equity exchange parties is expected to be sufficient to acquire all of the shares of our common stock to be sold in this offering, inclusive of the shares that may be sold pursuant to the underwriters' option to purchase additional shares. In the debt-for-equity exchange, the debt-for-equity exchange parties will acquire the total number of shares being sold in this offering. For purposes of determining the amount of Cummins indebtedness that Cummins will receive from the debt-for-equity exchange parties in exchange for such shares, Cummins expects that the debt obligations will be valued at the fair market value on the date of this prospectus, and the aggregate fair market value of the debt obligations to be exchanged will equal the aggregate initial public offering price less the aggregate underwriting discounts and commissions for such shares, each as shown on the cover page of this prospectus. If the underwriters exercise their option to purchase additional shares as described above, the debt-for-equity exchange parties will

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also acquire the additional shares in exchange for debt obligations of Cummins held by the debt-for-equity exchange parties. For purposes of determining the amount of Cummins indebtedness that Cummins will receive from the debt-for-equity exchange parties in exchange for the additional shares, the debt obligations will be valued at the fair market value on the date of this prospectus, and the aggregate fair market value of the debt obligations to be exchanged will equal the aggregate initial public offering price less the aggregate underwriting discounts and commissions for such shares, each as shown on the cover page of this prospectus multiplied by the number of the additional shares acquired, less underwriting discounts and commissions. The debt-for-equity exchange parties will acquire and sell the shares as principals for their own account, rather than on Cummins' behalf. If Cummins and the debt-for-equity exchange parties enter into the debt-for-equity exchange agreement, as described above, the debt-for-equity exchange parties will become the owner of our shares of common stock they acquire in the debt-for-equity exchange, regardless of whether this offering is completed. The debt-for-equity exchange parties, and not Cummins, will receive the net proceeds from the sale of the shares in this offering.

For purposes of the U.S. securities laws, each of Cummins and the debt-for-equity exchange parties will be deemed to be an underwriter of the shares of our common stock sold in this offering; however, references to the underwriters in this prospectus refer only to the underwriters listed in the first paragraph of this "Underwriting (Conflicts of Interest)" section.

#### Conflicts of interest
The offering is being conducted in accordance with the applicable provisions of Rule 5121 of the Conduct Rules of the Financial Industry Regulatory Authority, Inc., or FINRA, because Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, who are acting as underwriters in this offering, will have a "conflict of interest" pursuant to Rule 5121(f)(5)(C)(ii) by virtue of their role as debt-for-equity exchange parties, since all of the net proceeds of this offering will be received by the debt-for-equity exchange parties. As such, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will not confirm sales to accounts in which they exercise discretionary authority without the prior written consent of the customer. Rule 5121 requires that a "qualified independent underwriter" as defined in Rule 5121 must participate in the preparation of the prospectus and perform its usual standard of diligence with respect to the registration statement and this prospectus. Accordingly, BofA Securities, Inc. is assuming the responsibilities of acting as the qualified independent underwriter in the offering. BofA Securities, Inc. will not receive any additional fees for serving as qualified independent underwriter in connection with this offering. We have agreed to indemnify BofA Securities, Inc. against liabilities incurred in connection with acting as qualified independent underwriter, including liabilities under the Securities Act.

#### European Economic Area
In relation to each Member State of the European Economic Area (each, a "Relevant State"), no shares have been offered or will be offered pursuant to the offering to the public in that Relevant State prior to the publication of a prospectus in relation to the shares which has been approved by the competent authority in that Relevant State or, where appropriate, approved in another Relevant State and notified to the competent authority in that Relevant State, all in accordance with the Prospectus Regulation, except that offers of shares may be made to the public in that Relevant State at any time under the following exemptions under the Prospectus Regulation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)

to any legal entity which is a qualified investor as defined in the Prospectus Regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)

to fewer than 150 natural or legal persons (other than qualified investors as defined under the Prospectus Regulation), subject to obtaining the prior consent of the underwriters; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)

in any other circumstances falling within Article 1(4) of the Prospectus Regulation,

provided that no such offer of shares shall require us or any underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation and each person who initially acquires any shares or to whom any offer is made will be deemed to have represented, acknowledged and agreed to and with each of the underwriters

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and us that it is a "qualified investor" within the meaning of Article 2(e) of the Prospectus Regulation. In the case of any shares being offered to a financial intermediary as that term is used in the Prospectus Regulation, each such financial intermediary will be deemed to have represented, acknowledged and agreed that the shares acquired by it in the offer have not been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, persons in circumstances which may give rise to an offer of any shares to the public other than their offer or resale in a Relevant State to qualified investors as so defined or in circumstances in which the prior consent of the underwriters has been obtained to each such proposed offer or resale.

For the purposes of this provision, the expression an "offer to the public" in relation to shares in any Relevant State means the communication in any form and by any means of sufficient information on the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe for any shares, and the expression "Prospectus Regulation" means Regulation (EU) 2017/1129.

#### United Kingdom
An offer to the public of any shares may not be made in the United Kingdom, except that an offer to the public in the United Kingdom of any shares may be made at any time under the following exemptions under the UK Prospectus Regulation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)

to any legal entity which is a qualified investor as defined under the UK Prospectus Regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)

to fewer than 150 natural or legal persons (other than qualified investors as defined under the UK Prospectus Regulation), subject to obtaining the prior consent of the underwriters; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)

in any other circumstances falling within section 86 of the Financial Services and Markets Act 2000, or as amended, FSMA,

provided that no such offer of shares shall require us or any underwriter to publish a prospectus pursuant to section 85 of the FSMA or supplement a prospectus pursuant to Article 23 of the UK Prospectus Regulation and each person who initially acquires any shares or to whom any offer is made will be deemed to have represented, acknowledged and agreed to and with each of the underwriters and us that it is a "qualified investor" within the meaning of Article 2 of the UK Prospectus Regulation. In the case of any shares being offered to a financial intermediary as that term is used in Article 1(4) of the UK Prospectus Regulation, each such financial intermediary will be deemed to have represented, acknowledged and agreed that the shares acquired by it in the offer have not been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, persons in circumstances which may give rise to an offer of any shares to the public other than their offer or resale in the United Kingdom to qualified investors as so defined or in circumstances in which the prior consent of the underwriters has been obtained to each such proposed offer or resale.

For the purposes of this provision, the expression an "offer to the public" in relation to shares in the United Kingdom means the communication in any form and by any means of sufficient information on the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe for any shares, and the expression "UK Prospectus Regulation" means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

#### Canada
The shares may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions, and Ongoing Registrant Obligations. Any resale of the shares must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

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Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to section 3A.3 of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.

#### Hong Kong
The shares may not be offered or sold in Hong Kong by means of any document other than (i) in circumstances which do not constitute an offer to the public within the meaning of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32 of the Laws of Hong Kong) ("Companies (Winding Up and Miscellaneous Provisions) Ordinance") or which do not constitute an invitation to the public within the meaning of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) ("Securities and Futures Ordinance"), or (ii) to "professional investors" as defined in the Securities and Futures Ordinance and any rules made thereunder, or (iii) in other circumstances which do not result in the document being a "prospectus" as defined in the Companies (Winding Up and Miscellaneous Provisions) Ordinance, and no advertisement, invitation or document relating to the shares may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to shares which are or are intended to be disposed of only to persons outside Hong Kong or only to "professional investors" in Hong Kong as defined in the Securities and Futures Ordinance and any rules made thereunder.

#### Singapore
This prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the shares may not be circulated or distributed, nor may the shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor (as defined under Section 4A of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA")) under Section 274 of the SFA, (ii) to a relevant person (as defined in Section 275(2) of the SFA) pursuant to Section 275(1) of the SFA, or any person pursuant to Section 275(1A) of the SFA, and in accordance with the conditions specified in Section 275 of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA, in each case subject to conditions set forth in the SFA.

Where the shares are subscribed or purchased under Section 275 of the SFA by a relevant person which is a corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor, the securities (as defined in Section 239(1) of the SFA) of that corporation shall not be transferable for six months after that corporation has acquired the shares under Section 275 of the SFA except: (1) to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2) where such transfer arises from an offer in that corporation's securities pursuant to Section 275(1A) of the SFA, (3) where no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in Section 276(7) of the SFA, or (6) as specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 of Singapore ("Regulation 32").

Where the shares are subscribed or purchased under Section 275 of the SFA by a relevant person which is a trust (where the trustee is not an accredited investor (as defined in Section 4A of the SFA))

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whose sole purpose is to hold investments and each beneficiary of the trust is an accredited investor, the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferable for six months after that trust has acquired the shares under Section 275 of the SFA except: (1) to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2) where such transfer arises from an offer that is made on terms that such rights or interest are acquired at a consideration of not less than S$200,000 (or its equivalent in a foreign currency) for each transaction (whether such amount is to be paid for in cash or by exchange of securities or other assets), (3) where no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in Section 276(7) of the SFA, or (6) as specified in Regulation 32.

#### Japan
The securities have not been and will not be registered under the Financial Instruments and Exchange Act of Japan (Act No. 25 of 1948, as amended) (the "FIEA"). The securities may not be offered or sold, directly or indirectly, in Japan or to or for the benefit of any resident of Japan (including any person resident in Japan or any corporation or other entity organized under the laws of Japan) or to others for reoffering or resale, directly or indirectly, in Japan or to or for the benefit of any resident of Japan, except pursuant to an exemption from the registration requirements of the FIEA and otherwise in compliance with any relevant laws and regulations of Japan.

#### Australia
No prospectus or other disclosure document (as defined in the Corporations Act 2001 (Cth) of Australia, or the Corporations Act) in relation to the ordinary shares has been or will be lodged with the Australian Securities & Investments Commission, or ASIC. This document has not been lodged with ASIC and is only directed to certain categories of exempt persons. Accordingly, if you receive this document in Australia:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)

you confirm and warrant that you are either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)

a "sophisticated investor" under section 708(8)(a) or (b) of the Corporations Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)

a "sophisticated investor" under section 708(8)(c) or (d) of the Corporations Act and that you have provided an accountant's certificate to us which complies with the requirements of section 708(8)(c)(i) or (ii) of the Corporations Act and related regulations before the offer has been made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)

a person associated with the company under section 708(12) of the Corporations Act; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv)

a "professional investor" within the meaning of section 708(11)(a) or (b) of the Corporations Act, and to the extent that you are unable to confirm or warrant that you are an exempt sophisticated investor, associated person or professional investor under the Corporations Act any offer made to you under this document is void and incapable of acceptance; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)

you warrant and agree that you will not offer any of the ordinary shares for resale in Australia within 12 months of that ordinary shares being issued unless any such resale offer is exempt from the requirement to issue a disclosure document under section 708 of the Corporations Act.

#### Switzerland
The shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange ("SIX") or on any other stock exchange or regulated trading facility in Switzerland. This document does not constitute a prospectus within the meaning of, and has been prepared without regard to the disclosure standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither this

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document nor any other offering or marketing material relating to the shares or the offering may be publicly distributed or otherwise made publicly available in Switzerland.

Neither this document nor any other offering or marketing material relating to the offering, the company or the shares has been or will be filed with or approved by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer of shares will not be supervised by, the Swiss Financial Market Supervisory Authority FINMA ("FINMA"), and the offer of shares has not been and will not be authorized under the Swiss Federal Act on Collective Investment Schemes ("CISA"). The investor protection afforded to acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of shares.

#### United Arab Emirates
The shares have not been, and are not being, publicly offered, sold, promoted or advertised in the United Arab Emirates (including the Dubai International Financial Centre) other than in compliance with the laws of the United Arab Emirates (and the Dubai International Financial Centre) governing the issue, offering and sale of securities. Further, this prospectus does not constitute a public offer of securities in the United Arab Emirates (including the Dubai International Financial Centre) and is not intended to be a public offer. This prospectus has not been approved by or filed with the Central Bank of the United Arab Emirates, the Securities and Commodities Authority or the Dubai Financial Services Authority.

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#### LEGAL MATTERS
Certain legal matters, including the legality of the shares being offered herein, will be passed upon by Baker & McKenzie LLP, New York, New York. The legality of the shares being offered herein will be passed upon for the underwriters by Simpson Thacher & Bartlett LLP, New York, New York.

#### EXPERTS
The financial statements of Atmus, a business of Cummins Inc. as of December 31, 2022 and 2021, and for each of the three years in the period ended December 31, 2022 included in this prospectus have been so included in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

#### WHERE YOU CAN FIND MORE INFORMATION
We have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the shares of our common stock offered by this prospectus. For purposes of this section, the term registration statement means the original registration statement and any and all amendments including the schedules and exhibits to the original registration statement or any amendment. This prospectus, filed as part of the registration statement, does not contain all of the information set forth in the registration statement or the exhibits and schedules thereto as permitted by the rules and regulations of the SEC. For further information about us and our common stock, you should refer to the registration statement, including the exhibits filed as part of the registration statement. Statements contained in this prospectus concerning the contents of any contract or any other document are not necessarily complete. If a contract or document has been filed as an exhibit to the registration statement, please see the copy of the contract or document that has been filed. Each statement in this prospectus relating to a contract or document filed as an exhibit is qualified in all respects by the filed exhibit. The SEC maintains an internet website that contains reports and other information about issuers, like us, that file electronically with the SEC. The address of that website is www.sec.gov. You may also request copies of those documents, at no cost to you, by contacting us at the following address:

Atmus Filtration Technologies Inc.

26 Century Boulevard

Nashville, Tennessee 37214

(615) 514 7339

Upon completion of this offering, we will become subject to the informational requirements of the Exchange Act and will be required to file reports and other information with the SEC. You will be able to inspect the materials we file with the SEC without charge at the SEC's website provided above. We intend to make available to our common stockholders annual reports containing consolidated financial statements audited by an independent registered public accounting firm.

We have not authorized anyone to give you any information or to make any representations about us or the transactions we discuss in this prospectus other than those contained in this prospectus or in any free writing prospectus we have prepared. If you are given any information or representations about these matters that is not discussed in this prospectus or in any free writing prospectus we have prepared, you must not rely on that information. This prospectus is not an offer to sell or a solicitation of an offer to buy securities anywhere or to anyone where or to whom we are not permitted to offer or sell securities under applicable law.

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#### INDEX TO FINANCIAL STATEMENTS

#### Audited Financial Statements of Atmus

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#fROIR)  | [F-2](#fROIR) |
|  [Combined Statements of Net Income For the Years Ended December 31, 2022, 2021 <br> and 2020](#fCSON)  | [F-4](#fCSON) |
|  [Combined Statements of Comprehensive Income For the Years Ended December 31, 2022, 2021 and 2020](#fCSOC)  | [F-5](#fCSOC) |
| [Combined Balance Sheets as of December 31, 2022 and 2021](#fCBSO) | [F-6](#fCBSO) |
|  [Combined Statements of Cash Flows For the Years Ended December 31, 2022, 2021 <br> and 2020](#fCSOC1)  | [F-7](#fCSOC1) |
|  [Combined Statements of Changes in Net Parent Investment For the Years Ended December 31, <br> 2022, 2021 and 2020](#fCSOC2)  | [F-8](#fCSOC2) |
| [Notes to the Combined Financial Statements](#fNTCF) | [F-9](#fNTCF) |

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#### Report of Independent Registered Public Accounting Firm
To the Board of Directors of Cummins Inc. and Shareholder of Atmus Filtration Technologies Inc.

#### Opinion on the Financial Statements
We have audited the accompanying combined balance sheets of Atmus, a business of Cummins Inc., (the "Company") as of December 31, 2022 and 2021, and the related combined statements of net income, comprehensive income, changes in net parent investment and cash flows for each of the three years in the period ended December 31, 2022, including the related notes (collectively referred to as the "combined financial statements"). In our opinion, the combined financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These combined financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's combined financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these combined financial statements in accordance with the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the combined financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the combined financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the combined financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the combined financial statements. We believe that our audits provide a reasonable basis for our opinion.

#### Critical Audit Matters
The critical audit matter communicated below is a matter arising from the current period audit of the combined financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the combined financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the combined financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

 *Revenue Recognition* 

As described in Note 3 to the combined financial statements, the Company sells to customers either through long-term arrangements or standalone purchase orders. The Company's long-term arrangements generally do not include committed volumes until underlying purchase orders are issued. Typically, revenue is recognized on the products the Company sells at a point in time, in accordance with shipping terms or other contractual arrangements. For the year ended December 31, 2022, the Company's net sales were $1,562.1 million.

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The principal consideration for our determination that performing procedures related to revenue recognition is a critical audit matter is the high degree of auditor effort in performing procedures related to the Company's revenue recognition.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the combined financial statements. These procedures included, among others (i) evaluating revenue recognized during the year for a sample of revenue transactions by obtaining and inspecting source documents, including purchase orders, invoices, shipping documentation, and subsequent cash receipts, where applicable and (ii) confirming a sample of outstanding customer invoice balances as of year-end and obtaining and inspecting source documents, including subsequent cash receipts or shipping documentation, for confirmations not returned.

/s/ PricewaterhouseCoopers LLP

Indianapolis, Indiana

February 21, 2023

We have served as the Company's auditor since 2021.

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#### ATMUS

#### COMBINED STATEMENTS OF NET INCOME

#### For the years ended December 31, 2022, 2021 and 2020

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| **NET SALES<sup>(a)</sup>**  | $**1562.1** | $**1438.8**  | $**1232.6**  |
| &nbsp;&nbsp;&nbsp; Cost of sales  | **1203.2** | 1088.3 | 923.2 |
| **GROSS MARGIN**  | 358.9 | 350.5 | 309.4 |
| **OPERATING EXPENSES AND INCOME** |  |  |  |
| &nbsp;&nbsp;&nbsp; Selling, general and administrative expenses  | 139.7 | 126.2 | 112.1 |
| &nbsp;&nbsp;&nbsp; Research, development and engineering expenses  | 38.6 | 42.0 | 39.0 |
| &nbsp;&nbsp;&nbsp; Equity, royalty and interest income from investees  | 28.0 | 32.4 | 40.7 |
| &nbsp;&nbsp;&nbsp; Other Operating Expense, Net  | 5.0 |  |  |
| **OPERATING INCOME**  | 203.6 | 214.7 | 199.0 |
| &nbsp;&nbsp;&nbsp; Interest expense  | 0.7 | 0.8 | 0.4 |
| &nbsp;&nbsp;&nbsp; Other income, net  | 8.8 | 3.9 | 2.0 |
| **INCOME BEFORE INCOME TAXES**  | 211.7 | 217.8 | 200.6 |
| &nbsp;&nbsp;&nbsp; Income tax expense  | 41.6 | 46.5 | 57.8 |
| **NET INCOME**  | $**170.1** | $**171.3**  | $**142.8**  |

---

(a) Includes sales to related parties of $344.9 million, $328.6 million and $280.8 million, respectively.

The accompanying notes are an integral part of these combined financial statements.

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#### ATMUS

#### COMBINED STATEMENTS OF COMPREHENSIVE INCOME

#### For the years ended December 31, 2022, 2021 and 2020

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| **NET INCOME**  | $**170.1** | $**171.3**  | $**142.8**  |
| Other comprehensive (loss) income, net of tax |  |  |  |
| &nbsp;&nbsp;&nbsp; Change in pension and other postretirement defined benefit plans  | 2.4 | 0.7 |  |
| &nbsp;&nbsp;&nbsp; Foreign currency translation adjustments  | **(16.6)** | (12.0) | 11.7 |
| Total other comprehensive (loss) income, net of tax  | **(14.2)** | (11.3) | 11.7 |
| **COMPREHENSIVE INCOME**  | $155.9 | $160.0 | $154.5 |

---

The accompanying notes are an integral part of these combined financial statements.

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#### ATMUS

#### COMBINED BALANCE SHEETS

#### As of December 31, 2022 and 2021

---

| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| **ASSETS** |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp; Cash and cash equivalents  | $**—** | $— |
| &nbsp;&nbsp;&nbsp; Accounts and notes receivables, net  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trade and other  | 174.2 | 161.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Related party receivables  | 67.0 | 60.8 |
| &nbsp;&nbsp;&nbsp; Inventories  | 251.8 | 245.8 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets  | 19.3 | 13.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets  | 512.3 | 482.1 |
| Long-term assets |  |  |
| &nbsp;&nbsp;&nbsp; Property, plant and equipment, net  | 148.4 | 141.1 |
| &nbsp;&nbsp;&nbsp; Investments and advances related to equity method investees  | 77.0 | 87.0 |
| &nbsp;&nbsp;&nbsp; Goodwill  | 84.7 | 84.7 |
| &nbsp;&nbsp;&nbsp; Other assets  | 57.0 | 53.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets  | $879.4 | $848.3 |
| **LIABILITIES** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp; Accounts payable (principally trade)  | $145.9 | $140.1 |
| &nbsp;&nbsp;&nbsp; **Related party payables**  | **100.1** | **78.0**  |
| &nbsp;&nbsp;&nbsp; Accrued compensation, benefits and retirement costs  | 18.2 | 28.8 |
| &nbsp;&nbsp;&nbsp; Current portion of accrued product warranty  | 5.9 | 11.7 |
| &nbsp;&nbsp;&nbsp; Other accrued expenses  | 79.0 | 61.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities  | 349.1 | 319.9 |
| Long-term liabilities |  |  |
| &nbsp;&nbsp;&nbsp; Accrued product warranty  | 9.6 | 12.2 |
| &nbsp;&nbsp;&nbsp; Other liabilities  | 71.2 | 79.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities**  | $**429.9** | $**411.1**  |
| **NET PARENT INVESTMENT** |  |  |
| &nbsp;&nbsp;&nbsp; **Net parent investment**  | $**505.3** | $**478.8**  |
| &nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss  | **(55.8)** | (41.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total net parent investment  | 449.5 | 437.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and net parent investment  | $879.4 | $848.3 |

---

The accompanying notes are an integral part of these combined financial statements.

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#### ATMUS

#### COMBINED STATEMENTS OF CASH FLOWS

#### For the years ended December 31, 2022, 2021 and 2020

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp; Net income  | $170.1  | $171.3 | $142.8 |
|  Adjustments to reconcile net income to net cash provided by operating activities  |  |  |  |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization  | 21.6 | 21.6 | 21.1 |
| &nbsp;&nbsp;&nbsp; **Deferred income taxes**  | **(12.7)** | **(2.7)**  | **3.4**  |
| &nbsp;&nbsp;&nbsp; Equity in income of investees, net of dividends  | 0.4 | (2.8) | (16.9) |
| &nbsp;&nbsp;&nbsp; Restructuring actions, net of cash payments  | **—** |  | (3.6) |
| &nbsp;&nbsp;&nbsp; Foreign currency remeasurement and transaction exposure  | **(1.9)** | (5.8) | (0.5) |
| Changes in current assets and liabilities |  |  |  |
| &nbsp;&nbsp;&nbsp; Trade and other receivables  | **(15.6)** | 0.2 | (6.8) |
| &nbsp;&nbsp;&nbsp; Related party receivables  | **(7.9)** | (8.0) | (5.1) |
| &nbsp;&nbsp;&nbsp; Inventories  | **(9.4)** | (50.6) | 6.1 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets  | **(6.1)** | 10.2 | (4.1) |
| &nbsp;&nbsp;&nbsp; Accounts payable  | 8.5 | 19.0 | 21.5 |
| &nbsp;&nbsp;&nbsp; Related party payables  | 24.0  | 28.3 | 6.2 |
| &nbsp;&nbsp;&nbsp; Other accrued expenses  | 3.3  | 19.2 | 1.7 |
| Changes in other liabilities  | **(5.7)**  | 3.4 | 36.9 |
| Other, net  | 8.4  | (1.0) | 10.4 |
| **Net cash provided by operating activities**  | **177.0** | **202.3**  | **213.1**  |
| **CASH FLOWS FROM INVESTING ACTIVITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp; Capital expenditures  | **(32.5)** | (30.8) | (25.5) |
| &nbsp;&nbsp;&nbsp; Investments in internal use software  | **(0.9)** | (1.1) | (1.0) |
| Net cash used in investing activities  | **(33.4)** | (31.9) | (26.5) |
| **CASH FLOWS FROM FINANCING ACTIVITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net transfers to Parent**  | **(143.6)** | **(170.4)**  | **(186.6)**  |
| **Net cash used in financing activities**  | **(143.6)** | **(170.4)**  | **(186.6)**  |
|  **EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS**  | **—** | **—**  | **—**  |
| Net increase/(decrease) in cash and cash equivalents  | **—** |  |  |
| Cash and cash equivalents at beginning of year  | **—** |  |  |
| **CASH AND CASH EQUIVALENTS AT END OF PERIOD**  | $**—** | $— | $— |

---

The accompanying notes are an integral part of these combined financial statements.

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#### ATMUS

#### COMBINED STATEMENTS OF CHANGES IN NET PARENT INVESTMENT

#### For the years ended December 31, 2022, 2021 and 2020

---

| | | | |
|:---|:---|:---|:---|
| In millions  | Net Parent <br> Investment  | Accumulated <br> Other <br> Comprehensive <br> Loss  | Total  |
| **BALANCE AT DECEMBER 31, 2019**  | $521.7 | $(42.0) | $479.7 |
| Net income  | 142.8 |  | 142.8 |
| Other comprehensive income, net of tax  |  | 11.7 | 11.7 |
| Net transfers to Parent  | (186.6) |  | (186.6) |
| **BALANCE AT DECEMBER 31, 2020**  | $477.9 | $(30.3) | $447.6 |
| Net income  | 171.3 |  | 171.3 |
| Other comprehensive loss, net of tax  |  | (11.3) | (11.3) |
| Net transfers to Parent  | (170.4) |  | (170.4) |
| **BALANCE AT DECEMBER 31, 2021**  | $478.8 | $(41.6) | $437.2 |
| Net income  | 170.1 |  | 170.1 |
| Other comprehensive loss, net of tax  |  | **(14.2)** | **(14.2)** |
| **Net transfers to Parent**  | **(143.6)** |  | **(143.6)** |
| **BALANCE AT DECEMBER 31, 2022**  | $**505.3** | $**(55.8)** | $**449.5** |

---

The accompanying notes are an integral part of these combined financial statements.

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#### ATMUS

#### NOTES TO THE COMBINED FINANCIAL STATEMENTS
All quantitative disclosures will be noted in U.S. Dollars in the following footnotes unless otherwise stated.

#### NOTE 1: DESCRIPTION OF THE BUSINESS

#### Separation
The accompanying Combined Financial Statements of Atmus, a business of Cummins Inc. ("Atmus", the "Company", "we", "us" or "our"), include the historical accounts of the filtration business of Cummins Inc. (the "Parent" or "Cummins"), a publicly traded company incorporated in Indiana (United States). On August 3, 2021, Cummins publicly announced it was exploring strategic alternatives for its filtration business, including the potential separation of the filtration business from Cummins into a standalone company. We are conducting an initial public offering of our common stock. Prior to the closing of this offering, Cummins will transfer to us substantially all of the assets and liabilities comprising its filtration business that will form our business going forward.

Cummins has informed us that, following this offering, it intends to make a tax-free distribution to its stockholders of all or a portion of its remaining equity interest in us, which may include one or more distributions effected as a dividend to all Cummins stockholders, one or more distributions in exchange for Cummins shares or other securities, or any combination thereof. We refer to any such potential distribution as the "distribution".

While Cummins intends to effect the distribution, Cummins has no obligation to pursue or consummate any further dispositions of its ownership interest in us, including through the distribution, by any specified date or at all. If pursued, the distribution may be subject to various conditions, including receipt of any necessary regulatory or other approvals, the existence of satisfactory market conditions and the receipt of a private letter ruling from the IRS, which has been received, and an opinion of a nationally recognized law or accounting firm to the effect that the separation and the debt-for-equity exchange, together with such distribution, will qualify as a transaction that is tax-free to Cummins and its stockholders for U.S. federal income tax purposes. The conditions to the distribution may not be satisfied; Cummins may decide not to consummate the distribution even if the conditions are satisfied; or Cummins may decide to waive one or more of these conditions and consummate the distribution even if all of the conditions are not satisfied.

#### Nature of Operations
The Atmus business operates, designs, manufactures and sells filters, coolant and chemical products. Atmus offers products for first fit and aftermarket applications including air filters, fuel filters, fuel water separators, lube filters, hydraulic filters, coolants, fuel additives and other filtration systems to original equipment manufacturers, dealers/distributors and end-users. Atmus supports a wide customer base in a diverse range of markets including on-highway, off-highway segments such as oil and gas, agriculture, mining, construction, power generation, marine and industrial markets. The Company produces and sells globally recognized Fleetguard branded products in over 150 countries including countries in North America, Europe, South America, Asia, Australia and Africa. Fleetguard products are available through thousands of distribution centers worldwide.

#### Atmus Contingent Debt Agreement
On September 30, 2022, we entered into a $1.0 billion credit agreement ("Credit Agreement"), consisting of a $400 million revolving credit facility and a $600 million term loan facility ("Facilities"), in anticipation of our separation from Cummins. Borrowings under the Credit Agreement will not become available under the Credit Agreement unless and until, among other things, there is a sale to the public of our shares. The Credit Agreement will automatically terminate if no such public sale of our shares occurs on or prior to June 30, 2023. If borrowings become available under the Credit Agreement, the Facilities would mature on September 30, 2027.

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Borrowings under the Credit Agreement would bear interest at varying rates, depending on the type of loan and, in some cases, the rates of designated benchmarks and the applicable election made by us. Generally, U.S. dollar-denominated loans would bear interest at an adjusted term Secured Overnight Financing Rate (SOFR) (which includes a 0.10 percent credit spread adjustment to SOFR) for the applicable interest period plus a rate ranging from 1.125 percent to 1.75 percent depending on our net leverage ratio.

#### NOTE 2: BASIS OF PRESENTATION
Beginning in 2022, we transitioned to a Gregorian calendar with our reporting period ending on the last day of the quarterly calendar period. In 2021 and prior, our reporting period ended on the Sunday closest to the last day of the quarterly calendar period. Our fiscal year ended on December 31, regardless of the day of the week on which December 31 falls.

The accompanying Combined Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States, on a standalone basis and reflect a combination of entities under common control that have been "carved out" of and derived from Cummins' historical Consolidated Financial Statements and accounting records. Accordingly, Cummins' net investment in this business ("Net Parent Investment") is presented in lieu of a controlling interest's equity in the Combined Financial Statements. Therefore, the Combined Financial Statements reflect Atmus's combined financial position, results of operations and cash flows as if the business was a standalone company prior to the separation. The preparation of the Combined Financial Statements required considerable judgment of management and reflects significant assumptions and allocations that management believes are reasonable. As a result, Atmus's Combined Financial Statements may not be indicative of Atmus's future performance and do not necessarily reflect what Atmus's combined results of operations, financial condition and cash flows would have been had Atmus operated as a separate, publicly traded company during the periods presented.

During the periods presented, Atmus functioned as part of the larger group of businesses controlled by Cummins and accordingly, utilized centralized functions, such as facilities and information technology, of Cummins to support its operations. A portion of the shared service costs were historically allocated to Atmus. Cummins also performed certain corporate functions for Atmus. The corporate expenses related to Atmus have been allocated from the Parent. These allocated costs are primarily related to certain governance and corporate functions such as finance, treasury, tax, human resources, legal, investor relations and certain other costs. Where it is possible to specifically attribute such expenses to activities of Atmus, these amounts have been charged or credited directly to Atmus without allocation or apportionment. Allocation of other such expenses is based on a reasonable reflection of the utilization of the service provided or benefits received by Atmus during the periods presented on a consistent basis, such as a relative percentage of headcount and third-party sales. The aggregate costs allocated for these functions to Atmus are included within the Combined Statements of Net Income.

Historically, Atmus's cash was transferred to the Parent on a daily basis. This arrangement is not reflective of the manner in which Atmus would have been able to finance its operations had it been a standalone business separate from the Parent during the periods presented.

Our Parent's debt and related interest expense have not been allocated to us for any of the periods presented since we are not the legal obligor of the debt and our Parent's borrowings were not directly attributable to us.

#### NOTE 3: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Russian Operations
On March 17, 2022, Cummins' Board of Directors decided to indefinitely suspend its operations in Russia due to the ongoing conflict in Ukraine. As a result of the suspension of operations, we evaluated the recoverability of assets in Russia and assessed other liabilities that may have been incurred. We have experienced, and expect to continue to experience, an inability to collect customer receivables. We

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also determined that we have some inventory items that were designated specifically for Russia which will not be able to be used elsewhere.

As a result of this suspension, approximately $1.7 million of accounts receivable were reserved for and $0.6 million of inventory was written off in 2022. The associated expense is recorded within Other operating expense, net and Cost of sales, respectively in the Combined Statements of Net Income. As of December 31, 2022, approximately $0.2 million of the written off accounts receivables was collected.

#### COVID-19
The outbreak of COVID-19 in early 2020 became a global pandemic with the resultant economic impacts evolving into a worldwide recession. The pandemic triggered a significant downturn in our markets globally, which negatively impacted our sales and results of operations during 2020. While the majority of the negative impacts to demand largely subsided in 2021, we continued to experience supply chain disruptions in 2022, which limited our ability to meet end-user demands and the related financial impacts are reflected as increased cost of sales.

#### Investments in Equity Investees
We use the equity method to account for our investments in joint ventures, affiliated companies and alliances in which we have the ability to exercise significant influence, generally represented by equity ownership or partnership equity of at least 20 percent but not more than 50 percent. Generally, under the equity method, original investments in these entities are recorded at cost and subsequently adjusted by our share of equity in income or losses after the date of acquisition. Equity in income or losses of each investee is recorded according to our level of ownership; if losses accumulate, we record our share of losses until our investment has been fully depleted. If our investment has been fully depleted, we recognize additional losses only when we are the primary funding source. We eliminate (to the extent of our ownership percentage) in our Combined Financial Statements the profit in inventory held by our equity method investees that has not yet been sold to a third-party. Dividends received from equity method investees reduce the amount of our investment when received and do not impact our earnings. Our investments are classified as "Investments and advances related to equity method investees" in our Combined Balance Sheets. Our share of the results from joint ventures, affiliated companies and alliances is reported in our Combined Statements of Net Income as "Equity, royalty and interest income from investees" and is reported net of all applicable income taxes. Our foreign equity investees are presented net of applicable foreign income taxes in our Combined Statements of Net Income. See Note 5, "INVESTMENTS IN EQUITY INVESTEES," for additional information.

#### Use of Estimates in the Preparation of the Combined Financial Statements
Preparation of financial statements requires management to make estimates and assumptions that affect reported amounts presented and disclosed in our Combined Financial Statements. Significant estimates and assumptions in these Combined Financial Statements require the exercise of judgement and are used for, but not limited to, estimates of future cash flows and other assumptions associated with goodwill and long-lived asset impairment tests, useful lives for depreciation and amortization, warranty programs, restructuring costs, income taxes, deferred tax valuation allowances, contingencies and allowances for doubtful accounts. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be different from these estimates.

The effect of a recovering supply chain, and potential associated disruptions, on related future financial impacts cannot be estimated at this time. This uncertainty could have a future impact on certain estimates used in the preparation of our 2022 financial results.

#### Revenue From Contracts with Customers

#### Revenue Recognition Sales of Products
We sell to customers either through long-term arrangements or standalone purchase orders. Our long-term arrangements generally do not include committed volumes until underlying purchase orders

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are issued. Typically, we recognize revenue on the products we sell at a point in time, in accordance with shipping terms or other contractual arrangements. All related shipping and handling costs are accrued at the time the related performance obligation has been satisfied.

Our sales arrangements may include the collection of sales and other similar taxes that are then remitted to the related taxing authority. We have elected to present the amounts collected for these taxes net of the related tax expense rather than presenting them as additional revenue.

We grant credit limits and terms to customers based upon traditional practices and competitive conditions. Typical terms vary by market, but payments are generally due in 60 days or less from invoicing for most of our product sales.

#### Sales Incentives
We provide various sales incentives to both our distribution network and OEM customers. These programs are designed to promote the sale of our products or encourage the usage of our products by OEM customers. When there is uncertainty surrounding these sales incentives, we may reduce the amount of revenue we recognize under a contract through an incentive accrual. When the uncertainty has been resolved the accrual will be adjusted accordingly. Sales incentives primarily fall into three categories:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Aftermarket rebates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Volume and growth rebates; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Marketing Development Fund ("MDF").

For aftermarket rebates, we provide incentives to promote sales to certain dealers and end- markets. These rebates are typically paid on a quarterly, or more frequent basis. At the time of the sale, we consider the expected amount of these rebates when determining the overall transaction price. Estimates are adjusted at the end of each month or quarter based on the amounts yet to be paid. Aftermarket rebates are estimated based on sales and historical experience.

For volume and growth rebates, we provide certain customers with rebate opportunities for attaining specified volumes during a particular quarter or year. We consider the expected amount of these rebates at the time of the original sale as we determine the sales revenue. We update our assessment of the amount of rebates that will be earned on a monthly or quarterly basis based on our best estimate of the volume levels the customer will reach during the measurement period.

For MDF's, these are funds to support our customers primarily for business development, marketing and advertising programs, promotional items jointly developed, dealer incentives and partnering programs. Depending on the agreement the funds are accrued for and paid on a quarterly basis, annual basis, or as agreed with those customers receiving these funds.

#### Sales Returns
The initial determination of the sales revenue may also be impacted by product returns. Rights of return do not exist for the majority of our sales other than for quality issues. We do offer certain return rights in our aftermarket business, where some aftermarket customers are permitted to return a small amount of filters each year. An estimate of future returns is accounted for at the time of sale as a reduction in the overall sales revenue based on historical return rates.

#### Foreign Currency Transactions and Translation
We translate assets and liabilities of foreign entities to U.S. dollars, where the local currency is the functional currency, at month-end exchange rates. We translate income and expenses to U.S. dollars using weighted-average exchange rates. We record adjustments resulting from translation in a separate component of accumulated other comprehensive loss and include the adjustments in net income only upon sale, loss of controlling financial interest or liquidation of the underlying foreign investment.

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Foreign currency transaction gains and losses are included in net income. For foreign entities where the U.S. dollar is the functional currency, including those operating in highly inflationary economies when applicable, we remeasure non-monetary balances and the related income statement amounts using historical exchange rates. We include the resulting gains and losses in net income, including the effect of derivatives in our Combined Statements of Net Income, which combined with transaction gains (losses) amounted to $0.3 million, $0.4 million and $(0.5) million for the years ended December 31, 2022, 2021 and 2020, respectively.

#### Income Tax Accounting
We determine our income tax expense using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax effects of temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Future tax benefits of net operating loss and credit carryforwards are also recognized as deferred tax assets. We evaluate the recoverability of our deferred tax assets each quarter by assessing the likelihood of future profitability and available tax planning strategies that could be implemented to realize our net deferred tax assets. A valuation allowance is recorded to reduce the tax assets to the net value management believes is more likely than not to be realized. In the event our operating performance deteriorates, future assessments could conclude that a larger valuation allowance will be needed to further reduce the deferred tax assets. In addition, we operate within multiple taxing jurisdictions and are subject to tax audits in these jurisdictions. These audits can involve complex issues, which may require an extended period of time to resolve. We accrue for the estimated additional tax and interest that may result from tax authorities disputing uncertain tax positions. We believe we made adequate provisions for income taxes for all years that are subject to audit based upon the latest information available.

Our income tax provision was prepared following the separate return method, which applies Accounting Standards Codification ("ASC") 740 to the standalone financial statements of each member of the combined group as if the group member were a separate and standalone enterprise. Due to this treatment, tax transactions included in the Consolidated Financial Statements of the Parent may not be included in the separated Combined Financial Statements of the Company. Similarly, there may be certain tax attributes within the Combined Financial Statements of the Company which would not be found in the Consolidated Financial Statements and tax returns of the Parent. Examples of such items include net operating losses, tax credits carry forwards and valuation allowances, which may exist in the standalone financial statements but not in the Parent's Consolidated Financial Statements.

Furthermore, the Combined Financial Statements do not reflect any amounts due to or due from the Parent for income tax related matters as these matters are settled at the end of each year.

A more complete description of our income taxes and the future benefits of our net operating loss and credit carryforwards is disclosed in Note 6, "INCOME TAXES."

#### Accounts Receivable and Allowance for Doubtful Accounts
Trade accounts receivable represent amounts billed to customers and not yet collected or amounts that have been earned but may not be billed until the passage of time and are recorded when the right to consideration becomes unconditional. Trade accounts receivable are recorded at the invoiced amount, which approximates net realizable value and generally do not bear interest. The allowance for doubtful accounts is our best estimate of the amount of expected credit losses in our existing accounts receivable. We determine the allowance based on our historical collection experience and by performing an analysis of our accounts receivable in light of the current economic environment. This estimate of expected losses reflects those losses expected to occur over the contractual life of the receivable. We review our allowance for doubtful accounts on a regular basis. In addition, when necessary, we provide an allowance for the full amount of specific accounts deemed to be uncollectible. Account balances are charged off against the allowance in the period in which we determine that it is probable the receivable will not be recovered. The allowance for doubtful accounts balances were $2.4 million and

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$0.8 million at December 31, 2022 and 2021, respectively; the increase was principally driven by Russia as described above. Bad debt write-offs were not material during the three years ended December 31, 2022.

#### Inventories
Our inventories are stated at the lower of cost or net realizable value. As of December 31, 2022 and 2021, approximately 34.4% and 32.3%, respectively, of our inventories were valued using the last- in, first-out (LIFO) cost method. The cost of other inventories is generally valued using the first-in, first-out (FIFO) cost method. Our inventories include estimates for adjustments related to annual physical inventory results and for inventory cost changes under the LIFO cost method. Due to significant movements of partially-manufactured components and parts between manufacturing plants, we do not internally measure, nor do our accounting systems provide, a meaningful segregation between raw materials and work-in-process. See Note 7, "INVENTORIES," for additional information.

#### Property, Plant and Equipment
We record property, plant and equipment at cost, inclusive of finance lease assets, with the adoption of ASC 842. We depreciate the cost of the majority of our property, plant and equipment using the straight-line method with depreciable lives ranging from 20 to 40 years for buildings and 3 to 15 years for machinery, equipment and fixtures. Finance lease asset amortization is recorded in depreciation expense. We expense normal maintenance and repair costs as incurred. Depreciation expense totaled $20.7 million, $21.0 million and $20.7 million for the years ended December 31, 2022, 2021 and 2020, respectively. See Note 8, "PROPERTY, PLANT AND EQUIPMENT" and Note 9, "LEASES," for additional information.

#### Impairment of Long-Lived Assets
We review our long-lived assets for possible impairment whenever events or circumstances indicate that the carrying value of an asset or asset group may not be recoverable. We assess the recoverability of the carrying value of the long-lived assets at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. An impairment of a long-lived asset or asset group exists when the expected future pre-tax cash flows (undiscounted and without interest charges) estimated to be generated by the asset or asset group is less than its carrying value. If these cash flows are less than the carrying value of such asset or asset group, an impairment loss is measured based on the difference between the estimated fair value and carrying value of the asset or asset group. Assumptions and estimates used to estimate cash flows in the evaluation of impairment and the fair values used to determine the impairment are subject to a degree of judgment and complexity. Any changes to the assumptions and estimates resulting from changes in actual results or market conditions from those anticipated may affect the carrying value of long-lived assets and could result in a future impairment charge.

#### Leases
We determine if an arrangement contains a lease in whole or in part at the inception of the contract. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term while lease liabilities represent our obligation to make lease payments arising from the lease. All leases greater than 12 months result in the recognition of a ROU asset and a liability at the lease commencement date based on the present value of the lease payments over the lease term. As most of our leases do not provide the information required to determine the implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. This rate is determined considering factors such as the lease term, our credit standing and the economic environment of the location of the lease. We use the implicit rate when readily determinable.

Our lease terms include all non-cancelable periods and may include options to extend (or to not terminate) the lease when it is reasonably certain that we will exercise that option. Leases that have a

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term of 12 months or less at the commencement date are expensed on a straight-line basis over the lease term and do not result in the recognition of an asset or a liability.

Lease expense for operating leases is recognized on a straight-line basis over the lease term. Lease expense for finance leases is generally front-loaded as the finance lease ROU asset is depreciated on a straight-line basis, but interest expense on the liability is recognized utilizing the interest method that results in more expense during the early years of the lease. We have lease agreements with lease and non-lease components, primarily related to real estate, vehicle and information technology ("IT") assets. For vehicle and real estate leases, we account for the lease and non-lease components as a single lease component. For IT leases, we allocate the payment between the lease and non-lease components based on the relative value of each component. See Note 9, "LEASES," for additional information.

#### Goodwill
We have the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value as a basis for determining whether it is necessary to perform an annual quantitative goodwill impairment test. We have elected this option for our reporting unit. In addition, the carrying value of goodwill must be tested for impairment on an interim basis in certain circumstances where impairment may be indicated.

When we are required or opt to perform the quantitative impairment test, the fair value of our reporting unit is estimated with either the market approach or the income approach using a discounted cash flow model. Our income approach method uses a discounted cash flow model in which cash flows anticipated over several periods, plus a terminal value at the end of that time horizon, are discounted to their present value using an appropriate rate of return.

The discounted cash flow model requires us to make projections of revenue, gross margin, operating expenses, working capital investment and fixed asset additions for our reporting unit over a multi-year period. Additionally, management must estimate a weighted-average cost of capital, which reflects a market rate, for our reporting unit for use as a discount rate. The discounted cash flows are compared to the carrying value of the reporting unit and, if less than the carrying value, the difference is recorded as a goodwill impairment loss. In addition, we also perform a sensitivity analysis to determine how much our forecasts can fluctuate before the fair value of a reporting unit would be lower than its carrying amount.

We perform the required procedures as of the end of our fiscal third quarter.

Changes in our projections or estimates, a deterioration of our operating results and the related cash flow effect or a significant increase in the discount rate could decrease the estimated fair value of our reporting unit and result in a future impairment of goodwill. See Note 10, "GOODWILL," for additional information.

#### Warranty
We estimate and record a liability for standard warranty programs at the time our products are sold. Our estimates are based on historical experience and reflect management's best estimates of expected costs at the time products are sold and subsequent adjustment to those expected costs when actual costs differ. As a result of the uncertainty surrounding the nature and frequency of product campaigns, the liability for such campaigns is recorded when we commit to a recall action or when a recall becomes probable and estimable, which generally occurs when it is announced. We review and assess the liability for these programs on a quarterly basis. See Note 11, "PRODUCT WARRANTY LIABILITY," for additional information.

#### Research and Development
Our research and development programs are focused on product improvements, product extensions, innovations and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT, administrative expenses

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and allocation of corporate costs and are expensed, net of contract reimbursements, when incurred. Research and development expenses were $38.5 million, $41.6 million and $37.9 million for the years ended December 31, 2022, 2021 and 2020, respectively.

#### Related Party Transactions
In accordance with the provisions of various joint venture agreements, we may purchase products and components from our joint ventures, sell products and components to our joint ventures and our joint ventures may sell products and components to unrelated parties. Joint venture transfer prices may differ from normal selling prices. Certain joint venture agreements transfer product at cost, some transfer product on a cost-plus basis, and others transfer product at market value. We also may purchase products and components from other Cummins' owned entities and sell products to other Cummins' owned entities. These purchases and sales take place on terms resulting in margins within a reasonable range of market rates. See Note 15, "RELATIONSHIP WITH PARENT AND RELATED PARTIES," for additional information.

#### Segment Information
We operate our business as one operating segment and also one reportable segment based on the manner in which we review and evaluate operating performance. The operating results are regularly reviewed by Atmus's chief operating decision maker on a combined basis. The chief operating decision maker is our Chief Executive Officer.

#### Stock-Based Compensation
Our Parent maintains stock-based compensation plans under which it receives services from employees as consideration for equity instruments of the Parent. These Combined Financial Statements include both the expense of employees within the Company as well as expenses of the Parent that were allocated to the Company for stock-based compensation. These stock based compensation costs are measured at fair value. Expense is generally recognized on a straight line basis over the service period during which awards are expected to vest. We present stock based compensation expense within the Combined Statements of Net Income based on the classification of the respective employees' cash compensation.

#### Pensions and other Postretirement Benefits
Cummins provides a range of benefits, including pensions, postretirement and post-employment benefits to eligible current and former employees, of which certain of our employees participate. For purposes of Atmus's Combined Financial Statements, participation in these Cummins plans is being treated as a multiemployer plan. Accordingly, the benefit obligations, plan assets and accumulated other comprehensive income (loss) amounts are not shown in the Combined Balance Sheets. However, due to jurisdictional requirements, some plans will be transferring as part of the transaction and will be treated as single-employer plans. See Note 12, "PENSIONS AND OTHER POSTRETIREMENT BENEFITS," for more information.

#### Net Parent Investment
Net Parent Investment represents our Parent's historical investment in us, our accumulated net earnings after taxes and the net effect of transactions with and allocations from our Parent.

Net Parent Investment in the Combined Balance Sheets represents Cummins' net investment in Atmus and is presented in lieu of stockholders' equity. The Combined Statements of Changes in Net Parent Investment include net cash transfers between Cummins and Atmus pursuant to the centralized cash management and other treasury-related functions performed by Cummins. The Net Parent Investment account includes the settlement and net effect of transactions with and corporate allocations from Cummins including administrative expenses such as corporate finance, accounting and field shared services, information services, human resources, marketing, corporate office and other services.

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The net effect of other assets and liabilities and related income and expenses recorded at the corporate level and pushed down to Atmus are also included in Net Parent Investment.

All transactions reflected in Net Parent Investment in the accompanying Combined Balance Sheets have been considered cash receipts and payments for purposes of the Combined Statements of Cash Flows and are reflected in financing activities in the accompanying Combined Statements of Cash Flows.

#### NOTE 4: REVENUE FROM CONTRACTS WITH CUSTOMERS

#### Disaggregation of Revenue

#### Revenue by Geographic Area
The table below presents our combined sales by geographic area. Net sales attributed to geographic areas were based on the location of the customer.

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| United States  | $720.5 | $619.6 | $539.8 |
| China  | 99.7 | 141.9 | 135.2 |
| Other international  | 741.9 | 677.3 | 557.6 |
| Total net sales  | $**1562.1** | $1438.8 | $1232.6 |

---

#### Revenue by Product Category
The table below presents our combined sales by product category.

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Fuel  | $674.7 | $612.6 | $513.2 |
| Lube  | 306.9 | 278.7 | 238.9 |
| Air  | 267.8 | 242.9 | 222.2 |
| Other  | 312.7 | 304.6 | 258.3 |
| Total net sales  | $**1562.1** | $1438.8 | $1232.6 |

---

#### Revenue by Major Customer
Related party sales to Cummins represented 19.3% of net sales in 2022 ($302.2 million), 18.5% of net sales in 2021 ($266.8 million) and 18.3% of net sales in 2020 ($225.5 million). For the years ended December 31, 2022, 2021 and 2020, two external customers, PACCAR and the Traton Group, represented greater than 10% of our annual net sales. These customers represented 16.2% and 12.0% of net sales in 2022, 15.1% and 11.7% of net sales in 2021 and 14.2% and 11.9% of net sales in 2020. No other customers exceeded 10% of net sales in the three years presented.

#### NOTE 5: INVESTMENTS IN EQUITY INVESTEES
Investments and advances related to equity method investees and our ownership percentages were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | Ownership <br> Percentage  | December 31,  | December 31,  |
| In millions  | Ownership <br> Percentage  | 2022  | 2021  |
| Shanghai Fleetguard Filter Co. Ltd.  | 50.0 | $23.9 | $30.7 |
| Fleetguard Filters Pvt. Ltd.  | 49.5 | 51.4 | 54.7 |
| Filtrum Fibertechnologies Pvt. Ltd.  | 49.7 | 1.7 | 1.6 |
| Investments and advances related to equity method investees  |  | $77.0 | $87.0 |

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Dividends received from our unconsolidated equity investees were $23.1 million, $24.0 million and $19.3 million in 2022, 2021 and 2020, respectively.

Equity, royalty and interest income from investees, net of applicable taxes, was as follows:

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Shanghai Fleetguard Filter Co. Ltd.  | $5.3 | $10.2 | $10.8 |
| Fleetguard Filters Pvt. Ltd.<sup>(1)</sup>  | 17.1 | 16.4 | 24.9 |
| Filtrum Fibertechnologies Pvt. Ltd.  | 0.3 | 0.2 | 0.5 |
| Atmus share of net income  | 22.7 | 26.8 | 36.2 |
| Royalty and interest income  | 5.3 | 5.6 | 4.5 |
| Equity, royalty and interest income from investees  | $28.0 | $32.4 | $40.7 |

---

(1) 2020 includes $14.0 million in favorable adjustments related to tax changes within India's 2020-2021 Union Budget of India (India Tax Law Change) passed in March 2020. See Note 6, "INCOME TAXES," for additional information in India Tax Law Change.

Our joint ventures are primarily intended to allow us to increase our market penetration in geographic regions, reduce capital spending, streamline our supply chain management and develop technologies. The results and investments in our joint ventures in which we have 50 percent or less ownership are included in "Equity, royalty and interest income from investees" and "Investments and advances related to equity method investees" in our Combined Statements of Net Income and Combined Balance Sheets, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Shanghai Fleetguard Filter Co. Ltd.*** — Shanghai Fleetguard Filter Co. Ltd. is a limited liability company (Sinoforeign joint venture) incorporated in Shanghai of the People's Republic of China on April 27, 1994 by Dongfeng Motor Parts and Components Group Co., Ltd. and Cummins (China) Investment Co. with 50% partnership. Shanghai Fleetguard Filter Co. Ltd.'s approved scope of business operations includes the manufacture and sales of various filters and filter spare parts for diesel engines, trucks, buses, mining, excavators and other construction equipment to customers in China and exports to Atmus. Shanghai Fleetguard Filter Co. Ltd. has three manufacturing sites, Shanghai, Wuhan and Shiyan, with Shanghai being the primary location.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • ***Fleetguard Filters Pvt. Ltd.*** — Fleetguard Filters Pvt. Ltd. is a limited company incorporated in 1987 by Perfect Sealing Systems Private Limited (India) and Cummins Filtration Inc. (USA) which set a benchmark by providing premium filtration solutions for both on and off-highway applications from Air, Lube, Fuel, Hydraulic and Water Filtration to Coolants & Chemicals. They focus on supplies to first fit and aftermarket customers in India and exports to Atmus. The Head Office of Fleetguard Filters Pvt. Ltd. is located at Baner, in Pune, Maharashtra, India and has seven manufacturing plants in different states of India — Dharwad in Karnataka, Hosur in Tamil Nadu, Jamshedpur in Jharkhand, Nandur, Wadki and Loni Khalbhor in Maharashtra, and Sitarganj in Uttarakhand.

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#### Equity Investee Financial Summary
Summary financial information for our equity investees was as follows:

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Net sales  | $392.5 | $429.7 | $338.6 |
| Gross margin  | 136.3 | 98.8 | 126.9 |
| Net income  | 38.4 | 53.9 | 48.2 |
| Atmus share of net income  | $22.7 | $26.8 | $36.2 |
| Royalty and interest income  | 5.3 | 5.6 | 4.5 |
| Total equity, royalty and interest income from investees  | $28.0  | $32.4 | $40.7 |
| Current assets  | 157.9 | 186.0 | 174.3 |
| Non-current assets  | 82.0 | 84.1 | 87.9 |
| Current liabilities  | **(75.9)** | (88.0) | (83.9) |
| Non-current liabilities  | **(7.3)** | (5.3) | (4.9) |
| **Net assets**  | $**156.7** | $**176.8**  | $**173.4**  |
| Atmus share of net assets  | $78.9 | $88.1 | $86.4 |

---

#### NOTE 6: INCOME TAXES
The following table summarizes income before income taxes:

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| U.S. income  | $68.8 | $73.1 | $62.4 |
| Foreign income  | $142.9 | $144.7 | $138.2 |
| Income before income taxes  | $**&nbsp;&nbsp;&nbsp;&nbsp;211.7** | $217.8 | $200.6 |

---

Income tax expense (benefit) consisted of the following:

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Current |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. federal and state  | $28.6 | $15.5 | $29.0 |
| &nbsp;&nbsp;&nbsp; Foreign  | 25.7 | 33.7 | 25.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current income tax expense  | 54.3  | 49.2 | 54.4 |
| Deferred |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. federal and state  | **(11.4)** | 1.6 | 4.0 |
| &nbsp;&nbsp;&nbsp; Foreign  | **(1.3)** | (4.3) | (9.5) |
| &nbsp;&nbsp;&nbsp; Impact of India tax law changes  | **—** |  | 8.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total deferred income tax expense (benefit)  | **(12.7)**  | (2.7) | 3.4 |
| **Income tax expense**  | $**41.6** | $**46.5**  | $**57.8**  |

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A reconciliation of the statutory U.S. federal income tax rate to the effective tax rate was as follows:

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| | 2022  | 2021  | 2020  |
| Statutory U.S. federal income tax rate  | 21.0% | 21.0% | 21.0% |
| State income tax, net of federal effect  | 0.9% | 1.0% | 0.6% |
|  Differences in rates and taxability of foreign subsidiaries and joint ventures  | **(2.6)%** | (1.2)% | (1.5)% |
| **Research tax credits**  | **(0.6)%** | **(1.1)%**  | **(0.9)%**  |
| **Foreign derived intangible income**  | **(1.3)%** | **(1.2)%**  | **(1.0)%**  |
| **Valuation allowance**  | **(0.4)%** | **0.7%**  | **1.3%**  |
| Uncertain tax positions  | 2.5% | 1.6% | 9.1% |
| Other, net  | 0.2% | 0.5% | 0.2% |
| Effective tax rate  | 19.7% | 21.3% | 28.8% |

---

Our effective tax rate for 2022 was 19.7 percent compared to 21.3 percent for 2021 and 28.8 percent for 2020. The decrease in our effective tax rate was primarily due to changes in the mix of our income before income taxes between the U.S. and foreign countries. The year ended December 31, 2022, contained unfavorable discrete tax items of $5.4 million, primarily due to $5.2 million of unfavorable changes in tax reserves.

The year ended December 31, 2021, contained unfavorable net discrete tax items of $2.6 million, primarily due to $3.5 million of unfavorable changes in tax reserves, partially offset by $0.9 million of favorable other discrete tax items.

The year ended December 31, 2020, contained $24.1 million of unfavorable net discrete tax items, primarily due to $18.2 million of unfavorable changes in tax reserves, $8.9 million of withholding tax adjustments, partially offset by $3.0 million of favorable other discrete tax items. The India Tax Law Change eliminated the dividend distribution tax and replaced it with a lower rate withholding tax as the burden shifted from the dividend payor to the dividend recipient.

The India Tax Law Change resulted in the following adjustments to the Combined Statements of Net Income for the year ended December 31, 2020:

---

| | |
|:---|:---|
| | Favorable <br> (Unfavorable)  |
| In millions  | 2020  |
| Equity, royalty and interest income from investees  | $14.0 |
| Income tax expense  | $(8.9) |
| &nbsp;&nbsp;&nbsp; Net income statement impact  | $5.1 |

---

At December 31, 2022, $208.9 million of non-U.S. earnings are considered indefinitely reinvested in operations outside the U.S. for which deferred taxes have not been provided. Determination of the related deferred tax liability, if any, is not practicable because of the complexities associated with the hypothetical calculation.

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Carryforward tax benefits and the tax effect of temporary differences between financial and tax reporting that give rise to net deferred tax assets (liabilities) were as follows:

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| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| Deferred tax assets |  |  |
| Foreign carryforward benefits  | $18.6 | $17.6 |
| Accrued expenses  | 15.5 | 14.0 |
| Warranty expenses  | 3.5 | 4.2 |
| Lease liabilities  | 4.1 | 4.9 |
| Other  | 12.3 | 7.0 |
| Gross deferred tax assets  | 54.0 | 47.7 |
| Valuation allowance  | **(16.4)** | (17.6) |
| Total deferred tax assets  | 37.6 | 30.1 |
| Deferred tax liabilities |  |  |
| Property, plant and equipment  | 8.0 | 10.2 |
| Unremitted income of foreign subsidiaries and joint ventures  | 12.4 | 13.0 |
| Employee benefit plans  | 1.2 | 1.5 |
| Lease assets  | 4.0 | 4.6 |
| Other  | 5.0 | 6.5 |
| Total deferred tax liabilities  | 30.6 | 35.8 |
| Net deferred tax assets (liabilities)  | $7.0 | $(5.7) |

---

Our foreign carryforward benefits as of December 31, 2022 begin to expire in 2023. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance is $16.4 million and decreased in 2022 by a net $1.2 million. The valuation allowance is primarily attributable to the uncertainty regarding the realization of foreign net operating loss carryforward benefits.

Our Combined Balance Sheets contain the following tax related items:

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| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| Prepaid expenses and other current assets |  |  |
| Refundable income taxes  | $0.8 | $0.3 |
| Other assets |  |  |
| Deferred income tax assets  | 14.3 | 13.4 |
| Other accrued expenses |  |  |
| Income tax payable  | 6.0 | 6.6 |
| Other liabilities |  |  |
| One-time transition tax  | 0.7 | 0.7 |
| Deferred income tax liabilities  | 7.3 | 19.1 |

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A reconciliation of unrecognized tax benefits for the years ended December 31, 2022, 2021 and 2020 was as follows:

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| | | | |
|:---|:---|:---|:---|
| | December 31,  | December 31,  | December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Balance at beginning of year  | $19.0  | $16.6 | $1.8 |
| &nbsp;&nbsp;&nbsp; Additions to current year tax positions  | $3.2 | $2.4 | $2.7 |
| &nbsp;&nbsp;&nbsp; Additions to prior years' tax positions  | $**—** | $— | $12.3 |
| &nbsp;&nbsp;&nbsp; Reductions to prior years' tax positions  | $**—** | $— | $(0.2) |
| **Balance at end of year**  | $**22.2** | $**19.0**  | $**16.6**  |

---

The total amount of unrecognized tax benefits in 2022, 2021 and 2020, if recognized, would favorably impact the effective tax rate in future periods.

We have accrued interest expense related to the unrecognized tax benefits of $7.0 million, $5.0 million and $3.9 million as of December 31, 2022, 2021 and 2020, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense.

Audit outcomes and the timing of audit settlements are subject to significant uncertainty. Although we believe that adequate provision has been made for such issues, there is the possibility that the ultimate resolution of such issues could have an adverse effect on our earnings. Conversely, if these issues are resolved favorably in the future, the related provision would be reduced, thus having a positive impact on earnings.

As a result of our global operations, we file income tax returns in various jurisdictions including U.S. federal, state and foreign jurisdictions. We are routinely subject to examination by taxing authorities throughout the world, including Australia, Belgium, Brazil, Canada, China, France, India, Mexico, the U.K. and the U.S. With few exceptions, our U.S. federal, major state and foreign jurisdictions are no longer subject to income tax assessments for years before 2018.

#### NOTE 7: INVENTORIES
Inventories are stated at the lower of cost or net realizable value. Inventories included the following:

---

| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| Finished products  | $195.9 | $183.6 |
| Work-in-process and raw materials  | 92.4 | 85.0 |
| Inventories at FIFO cost  | 288.3 | 268.6 |
| Excess of FIFO over LIFO  | **(36.5)** | (22.8) |
| Total inventories  | $251.8 | $245.8 |

---

#### NOTE 8: PROPERTY, PLANT AND EQUIPMENT
Details of our property, plant and equipment balance were as follows:

---

| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| Land and buildings  | $68.7 | $67.1 |
| Machinery, equipment and fixtures  | 304.1 | 301.7 |
| Construction in process  | 35.4 | 25.6 |
| Property, plant and equipment, gross  | 408.2 | 394.4 |
| Less: Accumulated depreciation  | **(259.8)** | (253.3) |
| Property, plant and equipment, net  | $148.4 | $141.1 |

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#### NOTE 9: LEASES
Our lease portfolio consists primarily of real estate and equipment leases. Our real estate leases primarily consist of land, office, distribution, warehousing and manufacturing facilities. These leases typically range in term from 2 to 50 years and may contain renewal options for periods up to 10 years at our discretion. Our equipment lease portfolio consists primarily of vehicles, fork trucks and IT equipment. These leases typically range in term from two years to three years and may contain renewal options. Our leases generally do not contain variable lease payments other than (1) certain foreign real estate leases which have payments indexed to inflation and (2) certain real estate executory costs (such as taxes, insurance and maintenance), which are paid based on actual expenses incurred by the lessor during the year. Our leases generally do not include residual value guarantees.

Our operating lease cost was $10.7 million, $10.6 million, and $9.8 million for the years ended December 31, 2022, 2021 and 2020, respectively. Our finance lease cost, short-term lease cost and variable lease cost were immaterial for the years ended December 31, 2022, 2021 and 2020.

Supplemental balance sheet information related to leases:

---

| | | | |
|:---|:---|:---|:---|
| | December 31,  | December 31,  | |
| In millions  | 2022  | 2021  | Balance Sheet Location  |
| **Assets** |  |  |  |
| Operating  | $32.4 | $32.7 | Other assets |
| Finance<sup>(1)</sup> | $0.6 | $2.1 | Property, plant and equipment, net  |
| Total lease assets  | $33.0 | $34.8 |  |
| **Liabilities** |  |  |  |
| Current |  |  |  |
| Operating  | $9.0 | $9.1 | Other accrued expenses |
| Finance  | $0.4 | $0.7 | Other accrued expenses |
| Long-term |  |  |  |
| Operating  | $23.2 | $23.9 | Other liabilities |
| Finance  | $0.7 | $1.4 | Other liabilities |
| Total lease liabilities  | $33.3 | $35.1 |  |

---

(1) Finance lease assets were recorded net of accumulated amortization of $1.3 million and $1.2 million at December 31, 2022 and 2021.

Supplemental cash flow and other information related to leases:

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31,  | Years ended December 31,  | Years ended December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
| Operating cash flows from operating leases  | $9.4 | $9.4 | $8.5 |
| Right-of-use assets obtained in exchange for lease obligations |  |  |  |
| Operating leases  | $7.4 | $14.7 | $18.4 |
| Finance leases  | $0.8 | $1.0 | $2.4 |

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Additional information related to leases:

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| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| | 2022  | 2021  |
| Weighted-average remaining lease term (in years) |  |  |
| Operating leases  | 3.8 | 4.3 |
| Finance leases  | 3.6 | 3.6 |
| Weighted-average discount rate |  |  |
| Operating leases  | 3.4% | 2.5% |
| Finance leases  | 1.5% | 2.0% |

---

Following is a summary of the future minimum lease payments due to finance and operating leases with terms of more than one year at lease commencement at December 31, 2022, together with the net present value of the minimum payments:

---

| | | |
|:---|:---|:---|
| In millions  | Finance <br> Leases  | Operating <br> Leases  |
| 2023  | $0.4 | $10.0 |
| 2024  | 0.3 | 8.4 |
| 2025  | 0.2 | 7.6 |
| 2026  | 0.1 | 6.3 |
| 2027  | 0.1 | 1.8 |
| After 2027  | 0.1 | 0.2 |
| Total minimum lease payments  | 1.2 | 34.3 |
| Interest  | (0.1) | (2.1) |
| Present value of net minimum lease payments  | $1.1 | $32.2 |

---

#### NOTE 10: GOODWILL
Goodwill is not amortized but it is subject to impairment testing at the reporting unit on an annual basis, or more often if events or circumstances indicate there may be impairment. We perform a goodwill impairment evaluation for our reporting unit annually. There was no impairment of goodwill during the periods covered by these Combined Financial Statements.

#### NOTE 11: PRODUCT WARRANTY LIABILITY
A tabular reconciliation of the product warranty liability, including accrued product campaigns, was as follows:

---

| | | | |
|:---|:---|:---|:---|
| | December 31,  | December 31,  | December 31,  |
| In millions  | 2022  | 2021  | 2020  |
| Balance, beginning of year  | $23.9 | $23.2 | $8.5 |
| Provision for base warranties issued  | 1.6 | 5.9 | 5.8 |
| Provision for product campaigns issued  | **—** |  | 18.5 |
| Payments made during period  | **(7.0)** | (7.6) | (9.9) |
| Changes in estimates for pre-existing product warranties  | **(2.6)** | 2.2 |  |
| Foreign currency translation and other  | **(0.4)** | 0.2 | 0.3 |
| Balance, end of year  | $15.5 | $23.9 | $23.2 |

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Warranty liabilities on our Combined Balance Sheets were as follows:

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| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| Current portion  | $5.9 | $11.7 |
| Long-term portion  | 9.6 | 12.2 |
| Total  | $15.5 | $23.9 |

---

#### Fuel Heater Campaign Accrual
Quality issues were identified with a particular application of a fuel heater which primarily impacted one customer, resulting in a recall campaign. A total of $24.2 million was accrued for this campaign during the years ended December 31, 2020 and 2019. The remaining accrual balance at December 31, 2022 was $9.7 million.

#### NOTE 12: PENSIONS AND OTHER POSTRETIREMENT BENEFITS

#### Pension Plans
 *<u>Multiemployer Plans with Cummins</u>* 

Cummins offers various retirement benefits ("Cummins Plans") to its eligible employees which includes eligible employees of Atmus, both in the U.S. and foreign countries. Since Cummins provides these benefits to eligible employees and retirees of Atmus, the costs to participating employees of Atmus in these plans are reflected in the Combined Financial Statements, while the related assets and liabilities are retained by Cummins.

The total Cummins defined benefit pension plan service costs allocated to Atmus were $5.8 million, $6.8 million and $5.8 million in 2022, 2021 and 2020, respectively. These costs are reflected in the Combined Financial Statements as a component of Cost of sales, Research, development and engineering expenses and Selling, general and administrative expenses. The non-service benefit allocated to Atmus was $3.4 million, $2.7 million and $1.9 million in 2022, 2021 and 2020, respectively. The non-service benefit is reflected as a component of Other income, net.

The following is a listing of significant defined benefit pension plans sponsored by Cummins in which eligible Atmus employees and retirees participate:

---

| | |
|:---|:---|
| Country  | Name of Defined Benefit Plan(s)  |
| Mexico | Pension Plan, Seniority Premium, Termination Indemnity<sup>(a)</sup> |
| United Kingdom | Cummins UK Pension Plan |
| United States | The Cummins Pension Plan |
|  | Cummins Inc. Excess Benefit Retirement Plan |
|  | Cummins Inc. Postretirement Health Care and Life Insurance Plans |

---

 *<u>Atmus Plans</u>* 

Atmus has defined benefit pension plans that will be transferring with the business which provide retirement benefits to eligible participants and are collectively referred to as the "Atmus Plans." The plans' benefits are primarily based on employee earnings and credited service.

Plans in two countries, Belgium and Mexico, were newly established in 2022. Prior to the establishment of the plans in Belgium and Mexico, Filtration employees' participated in the Cummins' plans.

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The total Atmus Plans' defined benefit pension plan expenses were $2.0 million in 2022 and $0.8 million in 2021 and 2020. Service costs allocated to Atmus were $1.5 million in 2022 and $0.6 million in 2021 and 2020. These costs are reflected in the Combined Financial Statements as a component of Cost of sales, Research, development and engineering expenses and Selling, general and administrative expenses. The non-service costs allocated to Atmus were immaterial for each of the years ended December 31, 2022, 2021 and 2020. These non-service costs are reflected as a component of Other income, net.

The total Atmus Plans' defined benefit pension plan liabilities were $7.3 million (including $0.9 million attributable to the plans in Belgium and Mexico) and $9.7 million as of December 31, 2022 and 2021, respectively. These liabilities are reflected in the Combined Financial Statements as a component of Other liabilities.

The following is a listing of significant Atmus Plans:

---

| | |
|:---|:---|
| Country  | Name of Defined Benefit Plan(s)  |
| Belgium | Reglement Plannen Leven en Overligden |
| France | Indemnité de Départ en Retraite |
| Germany | ersorgungsordnung von October 1979 |
| Japan | Employee Retirement Allowance Plan |
| Mexico | Pension Plan, Seniority Premium, Termination Indemnity<sup>(a)</sup> |

---

(a) New plans have been established in Mexico, but for a period of time, certain Filtration employees will continue to participate in the Cummins' plans until they are transferred into the new Filtration plans.

#### NOTE 13: COMMITMENTS AND CONTINGENCIES

#### Legal Proceedings
We are subject to several lawsuits and claims arising out of the ordinary course of our business, including actions related to product liability; the use and performance of our products; warranty matters; product recalls; patent, trademark or other intellectual property infringement; contractual liability; the conduct of our business; tax reporting in foreign jurisdictions; distributor termination; workplace safety; and environmental matters. We have denied liability with respect to many of these lawsuits, claims and proceedings and are vigorously defending such lawsuits, claims and proceedings. We carry various forms of commercial, property and casualty, product liability and other forms of insurance; however, such insurance may not be applicable or adequate to cover the costs associated with a judgment against us with respect to these lawsuits, claims and proceedings. We do not believe that these lawsuits are material individually or in the aggregate. While we believe we have also established adequate accruals for our expected future liability with respect to pending lawsuits, claims and proceedings, where the nature and extent of any such liability can be reasonably estimated based upon then presently available information, there can be no assurance that the final resolution of any existing or future lawsuits, claims or proceedings will not have a material adverse effect on our business, results of operations, financial condition or cash flows.

#### Indemnifications
Periodically, we enter into various contractual arrangements where we agree to indemnify a third-party against certain types of losses. Common types of indemnities include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • product liability and license, patent or trademark indemnifications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • asset sale agreements where we agree to indemnify the purchaser against future environmental exposures related to the asset sold; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • any contractual agreement where we agree to indemnify the counterparty for losses suffered as a result of a misrepresentation in the contract.

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We regularly evaluate the probability of having to incur costs associated with these indemnities and accrue for expected losses that are probable. Because the indemnifications are not related to specified known liabilities and due to their uncertain nature, we are unable to estimate the maximum amount of the potential loss associated with these indemnifications.

#### NOTE 14: ACCUMULATED OTHER COMPREHENSIVE LOSS
Following are the changes in accumulated other comprehensive income (loss) by component:

---

| | | | |
|:---|:---|:---|:---|
| In millions  | Change in pensions and <br> other postretirement <br> defined benefit plans  | Foreign currency <br> translation adjustments  | Total  |
| Balance at December 31, 2019  | $(2.2) | $(39.8) | $(42.0) |
| &nbsp;&nbsp;&nbsp; Other comprehensive income before reclassifications  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Before-tax amount  |  | 11.7 | 11.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax benefit  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After-tax Amount  |  | 11.7 | 11.7 |
|  Net current period other comprehensive loss  |  | 11.7 | 11.7 |
| Balance at December 31, 2020  | $(2.2) | $(28.1) | $(30.3) |
| &nbsp;&nbsp;&nbsp; Other comprehensive income before reclassifications  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Before-tax amount  | 1 | (12.0) | (11.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax expense  | (0.3) |  | (0.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After-tax Amount  | 0.7 | (12.0) | (11.3) |
|  Net current period other comprehensive loss  | 0.7 | (12.0) | (11.3) |
| Balance at December 31, 2021  | $(1.5) | $(40.1) | $(41.6) |
| &nbsp;&nbsp;&nbsp; Other comprehensive income before reclassifications  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Before-tax amount**  | **3.1** | **(16.6)** | **(13.5)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax expense  | **(0.7)** |  | **(0.7)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After-tax Amount  | 2.4 | **(16.6)** | **(14.2)** |
|  Net current period other comprehensive loss  | 2.4 | **(16.6)** | **(14.2)** |
| **Balance at December 31, 2022**  | $**0.9** | $**(56.7)** | $**(55.8)** |

---

#### NOTE 15: RELATIONSHIP WITH PARENT AND RELATED PARTIES
Historically, Atmus has been managed and operated in the normal course of business with other affiliates of Cummins. Accordingly, certain shared costs have been allocated to Atmus and reflected as expenses in the Combined Financial Statements. Management of Cummins and Atmus consider the allocation methodologies used to be reasonable and appropriate reflections of historical expenses of Cummins attributable to Atmus for purposes of the Combined Financial Statements; however, the expenses reflected in the Combined Financial Statements may not be indicative of the actual expenses that would have been incurred during the periods presented if Atmus historically operated as a separate, standalone entity. In addition, the expenses reflected in the Combined Financial Statements may not be indicative of expenses that will be incurred in the future by Atmus.

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#### Corporate Costs/Allocations
The Combined Financial Statements include corporate costs incurred by Cummins for services that are provided to or on behalf of Atmus. Such costs represent shared services and infrastructure provided by Cummins, including information technology, administrative, finance, human resources, legal and other corporate and infrastructure services.

The corporate costs reflected in the Combined Financial Statements consist of direct charges to the business and indirect allocations to Atmus. The costs that are directly charged to Atmus, such as Cummins Business Services, are primarily determined based on actual usage.

Indirect allocations are related to shared services and infrastructure provided by Cummins that would benefit Atmus but have not been directly charged to the business in a manner discussed above. These corporate costs are allocated to Atmus using methods management believes are consistent and reasonable. The primary allocation factor is third-party revenue; however, other relevant metrics are also utilized based on the nature of the underlying activities. For example, headcount is used as the allocation driver to allocate the human resource departmental costs.

The expenses reflected in the Combined Financial Statements may not be indicative of the actual expenses that would have been incurred during the periods presented if Atmus historically operated as a separate, standalone entity. The expenses allocated and directly charged reflect all expenses that the Parent incurred on behalf of the Company. All corporate charges and allocations have been deemed paid by Atmus to Cummins in the period in which the cost was recognized in the Combined Statements of Net Income.

Total corporate costs allocated to Atmus were $45.0 million, $54.3 million and $48.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. Allocated corporate costs are included in Net sales, Cost of sales, Selling, general and administrative expenses, Research, development and engineering expenses and Other income, net.

#### Cash Management and Financing
Cummins uses a centralized approach to cash management and financing its operations, including the operations of Atmus. Accordingly, no cash and cash equivalents have been allocated to Atmus in the Combined Financial Statements. Cash receipts from Atmus that are swept to Cummins' accounts are offset with amounts drawn by Atmus from the Cummins' accounts and are reflected in the amount of zero and $7.6 million as Related Party Payables in the Combined Balance Sheets as of December 31, 2022 and 2021, respectively. All debt is financed by Cummins and financing decisions for wholly and majority owned subsidiaries are determined by Cummins' corporate treasury operations.

#### Related Party Balances
Atmus had trade receivables of $57.2 million and $45.2 million for products sold and accounts payable of $75.7 million and $65.0 million for products purchased in the ordinary course with Cummins as of December 31, 2022 and December 31, 2021, respectively. Our sales to Cummins were $302.2 million, $266.8 million and $225.5 million for the years ended December 31, 2022, 2021 and 2020, respectively.

#### NOTE 16: STOCK-BASED COMPENSATION
Cummins offers multiple programs for awarding shares of equity awards to executives, employees and non-employee directors, including dedicated Atmus employees. Awards available for grant to eligible Atmus employees are stock options and performance shares. Shares issued under the Plan may be newly issued shares or reissued treasury shares.

 *Stock Options Plan* 

Stock options are generally granted with a strike price equal to the fair market value of the stock on the date of grant and a life of 10 years. Stock options granted have a three-year vesting period. The

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strike price may be higher than the fair value of the stock on the date of the grant but cannot be lower. Compensation expense is recorded on a straight-line basis over the vesting period beginning on the grant date.

The compensation expense is based on the fair value of each option grant using the Black- Scholes option pricing model. Options granted to employees eligible for retirement under our retirement plan are fully expensed at the grant date.

Stock option expense was immaterial for each of the years ended December 31, 2022, 2021 and 2020.

 *Performance Shares* 

Performance shares are granted as target awards and are earned based on certain measures of our operating performance. A payout factor has been established ranging from 0 to 200 percent of the target award based on Cummins' actual performance during the three-year performance period. The fair value of the award is equal to the average market price, adjusted for the present value of dividends over the vesting period, of Cummins' stock on the grant date. Compensation expense is recorded ratably over the period beginning on the grant date until the shares become unrestricted and is based on the amount of the award that is expected to be earned under the plan formula, adjusted each reporting period based on current information.

Performance shares expense was immaterial for each of the years ended December 31, 2022, 2021 and 2020.

#### NOTE 17: SUPPLEMENTAL BALANCE SHEET DATA
Other accrued expenses included the following:

---

| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| Other taxes payable  | $7.5 | $7.5 |
| Marketing accruals  | 47.3 | 34.3 |
| Current portion of operating lease liabilities  | 9.0 | 9.1 |
| Current portion of finance lease liabilities  | 0.4 | 0.7 |
| Income taxes payable  | 6.0 | 6.6 |
| Other  | 8.8 | 3.1 |
| Other accrued expenses  | $79.0 | $61.3 |

---

Long-lived assets include property, plant and equipment, net of depreciation, investments and advances to equity investees and other assets, excluding deferred tax assets. Long-lived assets by geographic area were as follows:

---

| | | |
|:---|:---|:---|
| | December 31,  | December 31,  |
| In millions  | 2022  | 2021  |
| United States  | $145.3 | $137.1 |
| China  | 32.4 | 39.9 |
| Mexico  | 34.0 | 38.2 |
| Other international  | 53.4 | 49.7 |
| Total long-lived assets  | $265.1 | $264.9 |

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Shares

Atmus Filtration Technologies Inc.

Common Stock

## PROSPECTUS
 *Joint Lead Book-Running Managers* 

Goldman Sachs & Co. LLC J.P. Morgan

 *Joint Book-Running Managers* 

Baird BofA Securities Wells Fargo Securities

Through and including , 2023 (the 25th day after the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers' obligation to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.

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#### PART II — INFORMATION NOT REQUIRED IN PROSPECTUS

#### Item 13. Other Expenses of Issuance and Distribution.
The following table sets forth the expenses payable by the Registrant expected to be incurred in connection with the issuance and distribution of the shares of common stock being registered hereby (other than underwriting discounts and commissions). All amounts shown are estimates except for the SEC registration fee, the FINRA filing fee and the listing fee for the NYSE.

---

| | |
|:---|:---|
| | Amount Paid <br> or to be Paid  |
| SEC registration fee  | $\* |
| FINRA filing fee  | \* |
| NYSE listing fee  | \* |
| Blue sky qualification fees and expenses  | \* |
| Printing expenses  | \* |
| Legal fees and expenses  | \* |
| Accounting fees and expenses  | \* |
| Transfer agent and registrar fees and expenses  | \* |
| Miscellaneous expenses  | \* |
| &nbsp;&nbsp;&nbsp; Total  | $\* |

---

\*

To be provided by amendment

#### Item 14. Indemnification of Officers and Directors.
Section 102(b)(7) of the Delaware General Corporation Law, or DGCL, allows a corporation to provide in its certificate of incorporation that a director or certain officers of the corporation will not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or officer, as applicable, except where the director or officer breached the duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase or redemption in violation of Delaware corporate law or obtained an improper personal benefit. Our amended and restated certificate of incorporation provides for this limitation of liability.

Section 145 of the DGCL, or Section 145, provides, among other things, that a Delaware corporation may indemnify any person who was, is or is threatened to be made, party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer, director, employee or agent of such corporation or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation or enterprise against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation's best interests and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal. A Delaware corporation may indemnify any persons who were or are a party to any threatened, pending or completed action or suit by or in the right of the corporation by reason of the fact that such person is or was a director, officer, employee or agent of another corporation or enterprise against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection with the defense or settlement of such action or suit, provided such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation's best interests, provided further that no indemnification is permitted without judicial approval if the officer, director, employee or agent is adjudged to be liable to the corporation. Where an officer or director is successful on the merits or otherwise in the defense of any action referred to above, the

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corporation must indemnify him or her against the expenses which such officer or director has actually and reasonably incurred.

Section 145 also provides that the expenses incurred by a director, officer, employee or agent of the corporation or a person serving at the request of the corporation as a director, officer, employee or agent of another corporation or enterprise in defending any action, suit or proceeding may be paid in advance of the final disposition of the action, suit or proceeding, subject, in the case of current officers and directors, to the corporation's receipt of an undertaking by or on behalf of such officer or director to repay the amount so advanced if it shall be ultimately determined that such person is not entitled to be indemnified.

Section 145 further authorizes a corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation or enterprise, against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his or her status as such, whether or not the corporation would otherwise have the power to indemnify him or her under Section 145.

Our amended and restated bylaws provides that we must indemnify our directors and officers to the fullest extent authorized by the DGCL and must also pay expenses incurred in defending any such proceeding in advance of its final disposition upon delivery of an undertaking, by or on behalf of an indemnified person, to repay all amounts so advanced if it should be determined ultimately that such person is not entitled to be indemnified under our amended and restated bylaws or otherwise.

The indemnification rights set forth above shall not be exclusive of any other right which an indemnified person may have or hereafter acquire under any statute, provision of our amended and restated certificate of incorporation, our amended and restated bylaws, agreement, vote of stockholders or disinterested directors or otherwise.

We expect to maintain standard policies of insurance that provide coverage (1) to our directors and officers against loss arising from claims made by reason of breach of duty or other wrongful act and (2) to us with respect to indemnification payments that we may make to such directors and officers.

We intend to enter into indemnification agreements with our directors and executive officers. These agreements will require us to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified. Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended (the "Securities Act"), may be permitted to directors or executive officers, we have been informed that, in the opinion of the Securities and Exchange Commission, such indemnification is against public policy and is therefore unenforceable.

The proposed form of Underwriting Agreement to be filed as Exhibit 1.1 to this registration statement provides for indemnification to our directors and officers by the underwriters against certain liabilities.

#### Item 15. Recent Sales of Unregistered Securities
We have not sold any securities, registered or otherwise, within the past three years, except for the shares issued upon our formation and in connection with the separation to our sole stockholder, Cummins.

#### Item 16. Exhibits and Financial Statement Schedules
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) *Exhibits*. See the Exhibit Index immediately preceding the signature page hereto, which is incorporated by reference as if fully set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) *Financial Statement Schedules*. All schedules are omitted because the required information is (i) not applicable, (ii) not present in amounts sufficient to require submission of the schedule and/or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(iii) included in the financial statements and accompanying notes thereto included in the prospectus filed as part of this registration statement.

#### Item 17. Undertakings
The undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreement, certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)

For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)

For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

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#### EXHIBIT INDEX

---

| | |
|:---|:---|
| Exhibit No.  | Description  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.1\* | Form of Underwriting Agreement between Atmus Filtration Technologies Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as representatives of the several underwriters named in Schedule II thereto. |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.2\* | Form of Debt-for-Equity Exchange Agreement by and among Cummins Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC. |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.1\* | Amended and Restated Certificate of Incorporation of Atmus Filtration Technologies Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.2\* | Amended and Restated Bylaws of Atmus Filtration Technologies Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.1\* | Specimen Common Stock Certificate |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.1\* | Opinion of Baker & McKenzie LLP |
| &nbsp;&nbsp; 10.1 | [Form of Separation Agreement](tm2211801d7_ex10-1.htm)  |
| &nbsp;&nbsp; 10.2 | [Form of Transition Services Agreement](tm2211801d7_ex10-2.htm)  |
| &nbsp;&nbsp; 10.3 | [Form of Tax Matters Agreement](tm2211801d7_ex10-3.htm)  |
| &nbsp;&nbsp; 10.4 | [Form of Employee Matters Agreement](tm2211801d7_ex10-4.htm)  |
| &nbsp;&nbsp; 10.5 | [Form of First-Fit Supply Agreement](tm2211801d7_ex10-5.htm)  |
| &nbsp;&nbsp; 10.6 | [Form of Aftermarket Supply Agreement](tm2211801d7_ex10-6.htm)  |
| &nbsp;&nbsp; 10.7 | [Form of Registration Rights Agreement](tm2211801d7_ex10-7.htm)  |
| &nbsp;&nbsp; 10.8 | [Form of Transitional Trademark License Agreement](tm2211801d7_ex10-8.htm)  |
| &nbsp;&nbsp; 10.9 | [Form of Intellectual Property License Agreement](tm2211801d7_ex10-9.htm)  |
| &nbsp;&nbsp; 10.11\*+ | 2022 Omnibus Incentive Plan |
| &nbsp;&nbsp; 10.12\*+ | Employment Transition and Release Agreement, effective as of August 26, 2022, between Mark J. Osowick, Cummins Inc., and Cummins Filtration Inc. |
| &nbsp;&nbsp; 10.13\* | Credit Agreement, dated as of September 30, 2022, among FILT Red, Inc., Cummins Filtration Inc., the lenders party thereto, and Bank of America, N.A., as administrative agent. |
| &nbsp;&nbsp; 10.14\* | Amendment No. 1 to Credit Agreement, dated as of February 15, 2023, among Atmus Filtration Technologies Inc., Cummins Filtration Inc., the lenders party thereto, and Bank of America N.A., as administrative agent. |
| &nbsp;&nbsp; 21.1\* | List of subsidiaries of the Registrant |
| &nbsp;&nbsp; 23.1 | [Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm](tm2211801d7_ex23-1.htm)  |
| &nbsp;&nbsp; 23.2\* | Consent of Baker & McKenzie LLP (included in Exhibit 5.1) |
| 24.1 | [Power of Attorney (included on signature page to the registration statement)](#tSIGN1)  |
| &nbsp;&nbsp;&nbsp;&nbsp;107 | [Filing Fee Table](tm2211801d7_ex-filingfees.htm)  |

---

\*

To be filed by amendment.

+

Denotes management contract or compensatory plan or arrangement.

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#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Nashville, State of Tennessee, on February 21, 2023.

#### ATMUS FILTRATION TECHNOLOGIES INC.
By: /s/ Steph Disher

Name: Steph Disher

Title: Chief Executive Officer

#### POWER OF ATTORNEY
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated. Each person whose signature appears below constitutes and appoints Steph Disher and Jack M. Kienzler, and each of them individually, her or his true and lawful attorney-in-fact and agent, with full power of substitution and revocation, for him or her and in her or his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments or supplements) to this Registration Statement on Form S-1 (including all pre-effective and post-effective amendments and registration statements filed pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may lawfully do or cause to be done by virtue hereof.

---

| | | |
|:---|:---|:---|
| SIGNATURE  | TITLE  | DATE  |
| **/s/ Steph Disher** <br>**Steph Disher**  | Chief Executive Officer and Director <br> (Principal Executive Officer)  | February 21, 2023  |
| **/s/ Jack M. Kienzler** <br>**Jack M. Kienzler**  | Chief Financial Officer <br> (Principal Financial and Accounting Officer)  | February 21, 2023  |
| **/s/ Sharon Barner** <br>**Sharon Barner**  | Director  | February 21, 2023  |
| **/s/ R. Edwin Bennett** <br>R. Edwin Bennett  | Director  | February 21, 2023  |
| **/s/ Cristina Burrola** <br>**Cristina Burrola**  | Director  | February 21, 2023  |
| **/s/ Gretchen Haggerty** <br>**Gretchen Haggerty**  | Director  | February 21, 2023  |
| **/s/ Jane Leipold** <br>**Jane Leipold**  | Director  | February 21, 2023  |

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| | | |
|:---|:---|:---|
| SIGNATURE  | TITLE  | DATE  |
| **/s/ Stephen Macadam** <br>**Stephen Macadam**  | Director  | February 21, 2023  |
| **/s/ Earl Newsome** <br>**Earl Newsome**  | Director  | February 21, 2023  |
| **/s/ Tony Satterthwaite** <br>**Tony Satterthwaite**  | Director  | February 21, 2023  |
| **/s/ Mark Smith** <br>**Mark Smith**  | Director  | February 21, 2023  |
| **/s/ Nathan Stoner** <br>**Nathan Stoner**  | Director  | February 21, 2023  |

---

------

## Exhibit 10.1

**Exhibit 10.1**

Form of

SEPARATION AGREEMENT

by and between

CUMMINS INC.

and

ATMUS FILTRATION TECHNOLOGIES INC.,

dated as of [●], 2023

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| Article I DEFINITIONS AND INTERPRETATION | Article I DEFINITIONS AND INTERPRETATION | 2.0 |
| Section 1.1 | General | 2.0 |
| Section 1.2 | References; Interpretation | 22.0 |
| Article II THE SEPARATION | Article II THE SEPARATION | 23.0 |
| Section 2.1 | General | 23.0 |
| Section 2.2 | Internal Reorganization; Transfer of Assets; Assumption of Liabilities | 23.0 |
| Section 2.3 | Treatment of Shared Contracts | 25.0 |
| Section 2.4 | Intercompany Accounts, Loans and Agreements | 26.0 |
| Section 2.5 | Limitation of Liability; Intercompany Contracts | 26.0 |
| Section 2.6 | Deferred Transfers; Treatment of Deferred Assets and Liabilities; Related Matters | 27.0 |
| Section 2.7 | Conveyancing and Assumption Instruments | 29.0 |
| Section 2.8 | Further Assurances; Ancillary Agreements | 29.0 |
| Section 2.9 | Novation of Liabilities; Indemnification. | 30.0 |
| Section 2.10 | Guarantees; Credit Support Instruments | 32.0 |
| Section 2.11 | Disclaimer of Representations and Warranties | 33.0 |
| Section 2.12 | Filtration Financing Arrangements | 34.0 |
| Section 2.13 | Cash Equivalents | 35.0 |
| Section 2.14 | Contribution; Consideration | 35.0 |
| ARTICLE III THE DEBT-FOR-EQUITY EXCHANGE, THE IPO AND OTHER TRANSACTIONS | ARTICLE III THE DEBT-FOR-EQUITY EXCHANGE, THE IPO AND OTHER TRANSACTIONS | 36.0 |
| Section 3.1 | Filtration Debt-for-Equity Exchange Cooperation | 36.0 |
| Section 3.2 | The IPO | 36.0 |
| Section 3.3 | Filtration IPO Cooperation | 36.0 |
| Section 3.4 | Proceeds of the IPO | 37.0 |
| Section 3.5 | Filtration Organizational Documents | 37.0 |
| Section 3.6 | Directors | 37.0 |
| Section 3.7 | Officers | 37.0 |
| Section 3.8 | Resignations and Removals | 37.0 |
| Section 3.9 | Distributions or Other Dispositions | 37.0 |
| Article IV CERTAIN COVENANTS | Article IV CERTAIN COVENANTS | 38.0 |
| Section 4.1 | Cooperation | 38.0 |
| Section 4.2 | Restriction on Certain Competition | 38.0 |
| Section 4.3 | No Solicitation or Hiring of Employees | 39.0 |
| Section 4.4 | Corporate Opportunities | 39.0 |
| Article V INDEMNIFICATION | Article V INDEMNIFICATION | 40.0 |
| Section 5.1 | Release of Pre-IPO Claims | 40.0 |
| Section 5.2 | Indemnification by Cummins | 42.0 |
| Section 5.3 | Indemnification by Filtration | 43.0 |

---

i

---

| | | |
|:---|:---|:---|
| Section 5.4 | Procedures for Indemnification | 43.0 |
| Section 5.5 | Cooperation in Defense and Settlement | 46.0 |
| Section 5.6 | Indemnification Payments | 47.0 |
| Section 5.7 | Indemnification Obligations Net of Insurance Proceeds and Other Amounts | 47.0 |
| Section 5.8 | Contribution | 47.0 |
| Section 5.9 | Additional Matters; Survival of Indemnities | 48.0 |
| Section 5.10 | Environmental Matters | 48.0 |
| Article VI PRESERVATION OF RECORDS; ACCESS TO INFORMATION; CONFIDENTIALITY; PRIVILEGE | Article VI PRESERVATION OF RECORDS; ACCESS TO INFORMATION; CONFIDENTIALITY; PRIVILEGE | 49.0 |
| Section 6.1 | Preservation of Corporate Records | 49.0 |
| Section 6.2 | Access to Information | 50.0 |
| Section 6.3 | Witness Services | 51.0 |
| Section 6.4 | Reimbursement; Other Matters | 51.0 |
| Section 6.5 | Confidentiality | 52.0 |
| Section 6.6 | Privilege Matters | 53.0 |
| Section 6.7 | Ownership of Information | 55.0 |
| Section 6.8 | Personal Data | 55.0 |
| Section 6.9 | Other Agreements | 56.0 |
| Article VII FINANCIAL AND OTHER COVENANTS | Article VII FINANCIAL AND OTHER COVENANTS | 56.0 |
| Section 7.1 | Disclosure and Financial Controls | 56.0 |
| Section 7.2 | Auditors and Audits; Annual Statements and Accounting | 62.0 |
| Section 7.3 | Filtration Board Representation | 64.0 |
| Section 7.4 | Committees | 65.0 |
| Section 7.5 | Other Covenants | 66.0 |
| Section 7.6 | Cummins Policies and Procedures | 68.0 |
| Section 7.7 | Covenants Regarding the Incurrence of Indebtedness | 68.0 |
| Section 7.8 | Applicability of Rights in the Event of an Acquisition of Filtration | 68.0 |
| Section 7.9 | Transfer of Cummins's Rights Under Article VII | 68.0 |
| Article VIII DISPUTE RESOLUTION | Article VIII DISPUTE RESOLUTION | 69.0 |
| Section 8.1 | Negotiation | 69.0 |
| Section 8.2 | Mediation; Further Remedies | 69.0 |
| Section 8.3 | Interim Relief | 69.0 |
| Section 8.4 | Specific Performance | 70.0 |
| Section 8.5 | Confidentiality; Settlements; Defenses | 70.0 |
| Section 8.6 | Continuity of Service and Performance | 70.0 |
| Article IX INSURANCE | Article IX INSURANCE | 71.0 |
| Section 9.1 | Insurance Matters | 71.0 |
| Section 9.2 | Certain Matters Relating to Filtration's Organizational Documents | 74.0 |
| Section 9.3 | Indemnitor of First Resort | 74.0 |

---

ii

---

| | | |
|:---|:---|:---|
| Article X MISCELLANEOUS | Article X MISCELLANEOUS | 75.0 |
| Section 10.1 | Entire Agreement; Construction | 75.0 |
| Section 10.2 | Ancillary Agreements | 75.0 |
| Section 10.3 | Counterparts | 75.0 |
| Section 10.4 | Survival of Agreements | 75.0 |
| Section 10.5 | Expenses | 75.0 |
| Section 10.6 | Notices | 76.0 |
| Section 10.7 | Consents | 77.0 |
| Section 10.8 | Assignment | 77.0 |
| Section 10.9 | Successors and Assigns | 77.0 |
| Section 10.10 | Termination and Amendment | 77.0 |
| Section 10.11 | Payment Terms | 77.0 |
| Section 10.12 | Subsidiaries | 78.0 |
| Section 10.13 | Third Party Beneficiaries | 78.0 |
| Section 10.14 | Title and Headings | 78.0 |
| Section 10.15 | Exhibits and Schedules | 78.0 |
| Section 10.16 | Governing Law | 78.0 |
| Section 10.17 | Submission to Jurisdiction | 78.0 |
| Section 10.18 | Waiver of Jury Trial | 79.0 |
| Section 10.19 | Severability | 79.0 |
| Section 10.20 | Public Announcements | 79.0 |
| Section 10.21 | Interpretation | 79.0 |
| Section 10.22 | No Duplicative Recovery | 79.0 |
| Section 10.23 | Certain Tax Matters | 80.0 |
| Section 10.24 | No Waiver | 81.0 |
| Section 10.25 | No Admission of Liability | 81.0 |
| Section 10.26 | Advisors | 82.0 |
| Section 10.27 | Plan of Reorganization | 82.0 |

---

iii

---

| | |
|:---|:---|
| **List of Exhibits** | **List of Exhibits** |
| Exhibit A | Aftermarket Supply Agreement |
| Exhibit B | Employee Matters Agreement |
| Exhibit C | First-Fit Supply Agreement |
| Exhibit D | Intellectual Property License Agreement |
| Exhibit E | Registration Rights Agreement |
| Exhibit F | Tax Matters Agreement |
| Exhibit G | Transition Services Agreement |
| Exhibit H | Transitional Trademark License Agreement |
| Exhibit I | Amended and Restated Certificate of Incorporation of Atmus Filtration Technologies Inc. |
| Exhibit J | Amended and Restated Bylaws of Atmus Filtration Technologies<br>|
| **List of Schedules** | **List of Schedules** |
| Schedule 1.1(9) | Ancillary Lease Agreements |
| Schedule 1.1(29)(a) | Continuing Arrangements |
| Schedule 1.1(29)(d) | Intercompany Contracts |
| Schedule 1.1(33) | Credit Support Instruments |
| Schedule 1.1(47) | Cummins Group Landlord Property |
| Schedule 1.1(53)(a) | Cummins Retained Assets |
| Schedule 1.1(55) | Cummins Retained Former Filtration Real Property |
| Schedule 1.1(57)(c) | Cummins Retained Liabilities |
| Schedule 1.1(58) | Cummins Retained Names |
| Schedule 1.1(82)(b) | Filtration Assets – Certain Equity Interests |
| Schedule 1.1(82)(c) | Filtration Assets |
| Schedule 1.1(82)(e) | Filtration Assets – Certain Balance Sheet Exclusions |
| Schedule 1.1(82)(f) | Filtration Real Property |
| Schedule 1.1(82)(g) | Filtration Leased Real Property |
| Schedule 1.1(82)(h) | Filtration Contracts |
| Schedule 1.1(82)(i) | Filtration Intellectual Property |
| Schedule 1.1(82)(l) | Filtration IT Assets |
| Schedule 1.1(82)(n) | Filtration Litigation Rights |
| Schedule 1.1(90)(c) | Certain Filtration Environmental Liabilities |
| Schedule 1.1(91) | Filtration Financing Arrangements |
| Schedule 1.1(95) | Filtration Group Landlord Property |
| Schedule 1.1(97)(b) | Filtration Liabilities |
| Schedule 1.1(97)(c) | Filtration Liabilities – Certain Exclusions |
| Schedule 1.1(97)(h) | Filtration Liabilities – Actions |
| Schedule 1.1(132) | Plan of Internal Reorganization |
| Schedule 2.3 | Shared Contracts |
| Schedule 2.4(a) | Intercompany Receivables and Payables |
| Schedule 2.4(c) | Intercompany Loans |
| Schedule 2.5 | Intercompany Contracts |
| Schedule 2.6 | Transfers and Assumptions |
| Schedule 2.10(a)(i) | Filtration Group Guarantees |
| Schedule 2.10(a)(ii) | Cummins Group Guarantees |
| Schedule 3.8 | Specified Director and Officer Resignations |
| Schedule 5.10(b)(i) | Certain Environmental Liabilities |
| Schedule 7.3(a) | Initial Cummins Designees |
| Schedule 7.6 | Cummins Policies and Procedures |
| Schedule 9.1(e)(i) | Filtration Effective Time Required Insurance |
| Schedule 10.5(a) | Specified Expense Allocations |
| Schedule 10.26 | Advisors |

---

iv

**SEPARATION AGREEMENT**

This SEPARATION AGREEMENT (this "<u>Agreement</u>"), dated as of [●], 2023, is entered into by and between Cummins Inc., an Indiana corporation ("<u>Cummins</u>"), and Atmus Filtration Technologies Inc., a Delaware corporation and a wholly owned subsidiary of Cummins ("<u>Filtration</u>"). "<u>Party</u>" or "<u>Parties</u>" means Cummins or Filtration, individually or collectively, as the case may be. Capitalized terms used and not defined herein shall have the meaning set forth in <u>Section 1.1</u>.

W I T N E S E T H:

WHEREAS, Cummins, acting through its direct and indirect Subsidiaries, currently conducts the Cummins Retained Business and the Filtration Business;

WHEREAS, the Board of Directors of Cummins (the "<u>Cummins Board</u>") has determined that it is appropriate, desirable and in the best interests of Cummins and its shareholders to separate Cummins into two separate, publicly traded companies, one for each of (i) the Cummins Retained Business, which shall be owned and conducted, directly or indirectly, by Cummins and its Subsidiaries (other than Filtration and its Subsidiaries), and (ii) the Filtration Business, which shall be owned and conducted, directly or indirectly, by Filtration and its Subsidiaries;

WHEREAS, in order to effect such separation, the Cummins Board has determined that it is appropriate, desirable and in the best interests of Cummins and its shareholders for Cummins to undertake the Internal Reorganization and, in connection therewith, effect the Contribution to Filtration;

WHEREAS, on the Effective Date, Cummins will transfer shares of Filtration Common Stock to certain Persons (the "<u>Debt-for-Equity Exchange Parties</u>") in exchange for certain debt obligations of Cummins held by the Debt-for-Equity Exchange Parties as principals for their own account (the "<u>Debt-for-Equity Exchange</u>") and the Debt-for-Equity Exchange Parties will make an offer and sale to the public of shares of Filtration Common Stock transferred in the Debt-for-Equity Exchange, which will take place pursuant to a registration statement on Form S-1 (the "<u>IPO</u>"), immediately following the consummation of which Cummins will continue to own at least 80.1% of the outstanding shares of Filtration Common Stock;

WHEREAS, after the IPO, Cummins may (i) transfer shares of Filtration Common Stock to holders of shares of Cummins Common Stock by means of one or more distributions by Cummins to holders of Cummins Common Stock of shares of Filtration Common Stock, one or more offers to holders of Cummins Common Stock to exchange their Cummins Common Stock for shares of Filtration Common Stock, or any combination thereof (any combination of such transfers, a "<u>Distribution</u>"), (ii) effect a disposition of its Filtration Common Stock pursuant to one or more public offering(s) or private transaction(s), (iii) transfer, exchange or otherwise dispose of shares of Filtration Common Stock in one or more transactions (together with any transactions set forth in the preceding clause (ii), an "<u>Other Disposition</u>"), and/or (iv) continue to hold its interest in shares of Filtration Common Stock;

WHEREAS, (i) the Cummins Board has (x) determined that the transactions contemplated by this Agreement and the Ancillary Agreements have a valid business purpose, are in furtherance of and consistent with its business strategy and are in the best interests of Cummins and its shareholders and (y) approved this Agreement and each of the Ancillary Agreements, and (ii) the Board of Directors of Filtration (the "<u>Filtration Board</u>") has approved this Agreement and each of the Ancillary Agreements (to the extent Filtration is a party thereto);

WHEREAS, the Parties desire to set forth the principal corporate transactions required to effect the Contribution, the Internal Reorganization, the Debt-for-Equity Exchange, the IPO, any Distribution or any Other Disposition (collectively, the "<u>Transactions</u>"), and certain other agreements relating to the relationship of Cummins and Filtration and their respective Subsidiaries following the IPO;

WHEREAS, it is the intention of the Parties that the Contribution and any Distributions, taken together, will qualify as a transaction that is tax-free for U.S. federal income tax purposes under Section 355 and Section 368(a)(1)(D) of the Internal Revenue Code of 1986, as amended (the "<u>Code</u>"); and

WHEREAS, this Agreement is intended to be a "plan of reorganization" within the meaning of Treas. Reg. Section 1.368-2(g).

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:

**Article I<u><br> DEFINITIONS AND INTERPRETATION</u>**

Section 1.1 <u>General</u>. As used in this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) "<u>AAA</u>" shall have the meaning set forth in <u>Section 8.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) "<u>Action</u>" shall mean any demand, action, claim, suit, countersuit, arbitration, inquiry, subpoena, case, litigation, proceeding or investigation (whether civil, criminal, administrative or investigative) by or before any court or grand jury, any Governmental Entity or any arbitration or mediation tribunal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) "<u>Affected Member</u>" shall have the meaning <u>Section 10.23(c)(iii)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) "<u>Affiliate</u>" shall mean, when used with respect to a specified Person and at a point in, or with respect to a period of, time, a Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with, such specified Person at such point in, or during such period of, time. For the purposes of this definition, "control", when used with respect to any specified Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or other interests, by Contract or otherwise. It is expressly agreed that, from and after the Effective Time, solely for purposes of this Agreement, (a) no member of the Filtration Group shall be deemed an Affiliate of any member of the Cummins Group and (b) no member of the Cummins Group shall be deemed an Affiliate of any member of the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) "<u>After-Acquired Business</u>" shall have the meaning set forth in <u>Section 4.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) "<u>After-Acquired Restricted Business</u>" shall have the meaning set forth in <u>Section 4.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) "<u>Aftermarket Supply Agreement</u>" shall mean the Supply Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) "<u>Agreement</u>" shall have the meaning set forth in the Preamble.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) "<u>Ancillary Agreements</u>" shall mean the Supply Agreements, the Employee Matters Agreement, the Intellectual Property License Agreement, the Registration Rights Agreement, the Tax Matters Agreement, the Transition Services Agreement, the Transitional Trademark License Agreement, the lease agreements for the real property described in <u>Schedule 1.1(9)</u>, any Continuing Arrangements, any and all Conveyancing and Assumption Instruments, and any other written Contract to be entered into between or among any members of the Cummins Group, on the one hand, and any members of the Filtration Group, on the other hand, at, prior to or after the Effective Time in connection with the Internal Reorganization, the Contribution, the IPO, any Distribution or any Other Disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) "<u>Annual Financial Statements</u>" shall have the meaning set forth in <u>Section 7.1(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) "<u>Applicable Period</u>" shall have the meaning set forth in <u>Section 7.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) "<u>Asset Transferors</u>" shall mean the entities Transferring Assets to Filtration or Cummins, as the case may be, or one of their respective Subsidiaries in order to consummate the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) "<u>Assets</u>" shall mean all rights (including Intellectual Property), title and ownership interests in and to all properties, claims, Contracts, businesses, securities or other assets (including goodwill), wherever located (including in the possession of vendors or other third parties or elsewhere), of every kind, character and description, whether real, personal or mixed, tangible or intangible, whether accrued, contingent or otherwise, in each case, whether or not recorded or reflected on the books and records or financial statements of any Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) "<u>Assume</u>" shall have the meaning set forth in <u>Section 2.2(c)</u>; and the terms "<u>Assumed</u>" and "<u>Assumption</u>" shall have their correlative meanings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) "<u>Beneficially Own</u>" shall have the meaning set forth in Section 13(d) of the Exchange Act and the rules and regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) "<u>Business</u>" shall mean the Cummins Retained Business or the Filtration Business, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) "<u>Business Day</u>" shall mean any day other than Saturday or Sunday and any other day on which commercial banking institutions located in New York, New York or Indianapolis, Indiana are required, or authorized by Law, to remain closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) "<u>Business Entity</u>" shall mean any corporation, partnership, limited liability company, joint venture or other entity which may legally hold title to Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) "<u>Bylaws</u>" shall have the meaning set forth in <u>Section 3.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) "<u>Cash Equivalents</u>" shall mean cash, checks, certificates of deposit having a maturity of less than one year, money orders, marketable securities, money market funds, commercial paper, short-term instruments and other cash equivalents, funds in time and demand deposits or similar accounts, and any evidence of indebtedness issued or guaranteed by any Governmental Entity, *minus* the amount of any outbound checks, *plus* the amount of any deposits in transit; <u>provided</u>, <u>however</u>, that Cash Equivalents shall not include Intercompany Amounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) "<u>Change of Control</u>" shall mean, with respect to either Party, the occurrence through one or more related transactions of one or more of the following events, other than as a result of a Distribution, (a) any Person or any group of Persons acting together which would constitute a "group" for purposes of Section 13(d) of the Exchange Act or any successor provisions thereto (other than Cummins or another member of the Cummins Group) (x) Beneficially Owns, directly or indirectly, any securities of such Party or of any of its Group members representing more than fifty percent (50%) of the combined voting power of such Party or its ultimate parent entity then outstanding voting securities or (y) has or acquires control of such Party's board of directors or equivalent governing body of such Party's ultimate parent entity, (b) a merger, consolidation, reorganization or similar business combination pursuant to which (x) the board of directors or equivalent governing body of such Party or such Party's ultimate parent entity immediately prior to the transaction or transactions does not constitute at least a majority of the board of directors or equivalent governing body of the entity surviving the transaction or transactions, or (y) the voting securities of such Party or such Party's ultimate parent entity immediately prior to such transaction or transactions do not continue to represent more than fifty percent (50%) of the combined voting power of the then outstanding voting securities of the entity resulting from such transaction or series of transactions or (c) the sale, lease or other disposition, directly or indirectly, by such Party or any other member of such Party's Group of all or substantially all of the assets of the applicable Group, taken as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) "<u>Charter</u>" shall have the meaning set forth in <u>Section 3.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) "<u>Code</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24) "<u>Commission</u>" shall mean the United States Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) "<u>Competing Business</u>" shall have the meaning set forth in <u>Section 4.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26) "<u>Confidential Information</u>" shall mean all non-public, confidential or proprietary Information to the extent concerning a Party, its Group or its Subsidiaries or with respect to Filtration, the Filtration Business, any Filtration Assets or any Filtration Liabilities or with respect to Cummins, the Cummins Retained Business, any Cummins Retained Assets or any Cummins Liabilities, including any such Information that was acquired by any Party after the Effective Time pursuant to <u>Article VI</u> or otherwise in accordance with this Agreement, or that was provided to a Party by a third party in confidence, including: (a) any and all technical information relating to the design, operation, testing, test results, development, and manufacture of any Party's product (including product specifications and documentation; engineering, design, and manufacturing drawings, diagrams, and illustrations; formulations and material specifications; laboratory studies and benchmark tests; quality assurance policies procedures and specifications; evaluation or validation studies; assembly code, software, firmware, programming data, databases, and all information referred to in the same); product costs, margins and pricing; as well as product marketing studies and strategies; all other methodologies, procedures, techniques and Know-How related to research, engineering, development and manufacturing; (b) information, documents and materials relating to the Party's financial condition, management and other business conditions, prospects, plans, procedures, infrastructure, security, information technology procedures and systems, and other business or operational affairs; (c) pending unpublished patent applications and trade secrets; and (d) any other data or documentation resident, existing or otherwise provided in a database or in a storage medium, permanent or temporary, intended for confidential, proprietary or privileged use by a Party; except for any Information that is (i) in the public domain or known to the public through no fault of the receiving Party or its Subsidiaries, (ii) lawfully acquired after the Effective Time by such Party or its Subsidiaries from other sources not known to be subject to confidentiality obligations with respect to such Information or (iii) independently developed by the receiving Party after the Effective Time without reference to any Confidential Information. As used herein, by example and without limitation, Confidential Information shall mean any information of a Party intended or marked as confidential, proprietary or privileged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) "<u>Consents</u>" shall mean any consents, waivers, notices, reports or other filings to be obtained from or made, including with respect to any Contract, or any registrations, licenses, permits, authorizations to be obtained from, or approvals from, or notification requirements to, any third parties, including any third party to a Contract and any Governmental Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28) "<u>Consideration</u>" shall have the meaning set forth in <u>Section 2.14</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29) "<u>Continuing Arrangements</u>" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) those arrangements set forth on <u>Schedule 1.1(29)(a)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) this Agreement and the Ancillary Agreements (and each other Contract expressly contemplated by this Agreement or any Ancillary Agreement to be entered into or continued by any of the Parties or any of the members of their respective Group);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any Contract or intercompany account solely between or among members of the Filtration Group; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such other commercial arrangements between the Parties or their respective Subsidiaries that are intended to survive and continue following the Effective Time; <u>provided</u> that none of the intercompany Contracts set forth on <u>Schedule 1.1(29)(d)</u> shall be deemed to be Continuing Arrangements, it being understood that <u>Schedule 1.1(29)(d)</u> is not intended to be an exclusive list of arrangements that are to be terminated at the Effective Time; <u>provided</u>, <u>however</u>, that for the avoidance of doubt, Continuing Arrangements shall not be Third Party Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) "<u>Contract</u>" shall mean any agreement, contract, subcontract, obligation, binding understanding, note, indenture, instrument, option, lease, sublease, promise, arrangement, release, warranty, license, sublicense, insurance policy, benefit plan, purchase order or legally binding commitment or undertaking of any nature (whether written or oral and whether express or implied).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) "<u>Contribution</u>" shall mean the Transfer, directly or indirectly, of Assets from Cummins or its Subsidiaries to Filtration or its Subsidiaries and the Assumption of Liabilities, directly or indirectly, by Filtration or its Subsidiaries pursuant to the Internal Reorganization or otherwise relating to, arising out of or resulting from the transactions contemplated by this Agreement or any Ancillary Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32) "<u>Conveyancing and Assumption Instruments</u>" shall mean, collectively, the various Contracts, including the related local asset transfer agreements and local securities transfer agreements, and other documents entered into prior to the Effective Time and to be entered into following the Effective Time to effect the Transfer of Assets and the Assumption of Liabilities in the manner contemplated by this Agreement, or otherwise relating to, arising out of or resulting from the transactions contemplated by this Agreement, in such form or forms as the applicable Parties thereto agree.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33) "<u>Credit Support Instruments</u>" shall mean any letters of credit (including standby and commercial), performance bonds, surety bonds (including, with respect to the surety bonds, letters of credit and performance bonds set forth on <u>Schedule 1.1(33)</u>, the allocable portion of the surety bonds, letters of credit and performance bonds as set forth on <u>Schedule 1.1(33)</u>), bankers acceptances, bank guarantees or other similar arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) "<u>Cummins</u>" shall have the meaning set forth in the Preamble.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) "<u>Cummins Accounts</u>" shall have the meaning set forth in <u>Section 2.13(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) "<u>Cummins Annual Statements</u>" shall have the meaning set forth in <u>Section 7.1(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37) "<u>Cummins Asset Transferee</u>" shall mean any Business Entity that is or will be a member of the Cummins Group or a Subsidiary of Cummins to which Cummins Retained Assets shall be or have been Transferred at or prior to the Effective Time, or which is contemplated by the Internal Reorganization or this Agreement or the Ancillary Agreements to occur after the Effective Time, by an Asset Transferor in order to consummate the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38) "<u>Cummins Auditors</u>" shall have the meaning set forth in <u>Section 7.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39) "<u>Cummins Board</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40) "<u>Cummins Common Stock</u>" shall mean the common stock of Cummins, par value $2.50 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41) "<u>Cummins CSIs</u>" shall have the meaning set forth in <u>Section 2.10(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) "<u>Cummins D&O Indemnitees</u>" shall have the meaning set forth in <u>Section 9.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43) "<u>Cummins D&O Insurance Policies</u>" shall have the meaning set forth in <u>Section 9.1(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44) "<u>Cummins Designee</u>" shall have the meaning set forth in <u>Section 7.3(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) "<u>Cummins Former Business</u>" shall mean any Former Business (other than the Filtration Business or the Filtration Former Businesses) that, at the time of sale, conveyance, assignment, transfer, disposition, divestiture (in whole or in part) or discontinuation, abandonment, completion or termination of the operations, activities or production thereof, was primarily managed by or associated with the Cummins Retained Business as then conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46) "<u>Cummins Group</u>" shall mean (a) Cummins, the Cummins Retained Business and each Person that is a Subsidiary of Cummins as of immediately following the Effective Time and (b) each Business Entity that becomes a Subsidiary of Cummins after the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47) "<u>Cummins Group Landlord Property</u>" shall mean any real property owned by the Cummins Group as to which the Filtration Group will enter into a lease or other agreement with a member of the Cummins Group to conduct business operations after the Effective Time. A list of the Cummins Group Landlord Property is set forth on <u>Schedule 1.1(47)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48) "<u>Cummins Indemnitees</u>" shall mean each member of the Cummins Group and each of their respective Affiliates from and after the Effective Time and each member of the Cummins Group's and such respective Affiliates' respective current, former and future directors, officers, employees and agents (solely in their respective capacities as current, former and future directors, officers, employees or agents of any member of the Cummins Group or their respective Affiliates) and each of the heirs, administrators, executors, successors and assigns of any of the foregoing, except, for the avoidance of doubt, the Filtration Indemnitees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49) "<u>Cummins Indemnitors</u>" shall have the meaning set forth in <u>Section 9.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50) "<u>Cummins Personal Data</u>" shall mean the Personal Data of any member of the Cummins Group that is used in or by, or otherwise related to, any Cummins Retained Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51) "<u>Cummins Public Filings</u>" shall have the meaning set forth in <u>Section 7.1(l)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52) "<u>Cummins Released Liabilities</u>" shall have the meaning set forth in <u>Section 5.1(a)(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53) "<u>Cummins Retained Assets</u>" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all Assets listed or described on <u>Schedule 1.1(53)(a)</u> and any and all Assets that are expressly contemplated by this Agreement or any Ancillary Agreement as Assets to be retained by Cummins or any member of the Cummins Group, including all Cummins Retained IP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to <u>Article IX</u>, any Cummins Shared Policies or Cummins D&O Insurance Policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Cummins Retained Former Filtration Real Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any and all Assets that are owned, leased or licensed, at or prior to the Effective Time, by, or are otherwise Assets of, any member of the Cummins Group that are not Filtration Assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any and all Assets that are acquired or otherwise become Assets of any member of the Cummins Group after the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54) "<u>Cummins Retained Business</u>" shall mean (a) those businesses operated by the Cummins Group prior to the Effective Time other than the Filtration Business, including the Cummins engine business, the Cummins power systems business, the Cummins new power business, the Cummins distribution business and that portion of the Cummins components business that is not the Filtration Business; (b) those Business Entities or businesses acquired or established by or for any member of the Cummins Group after the Effective Time; and (c) any Cummins Former Business, including under each of preceding items (a) through (c), (i) the use, re-sale or marketing of Filtration Non-Compete Products or products of a Competing Business necessary or incidental to such retained businesses and (ii) any business consisting of the development, design, manufacture, sale or marketing of sensor-based real-time monitoring solutions or systems; <u>provided</u> that Cummins Retained Business shall not include the FleetguardFIT Filtration Business or any Filtration Former Business or Filtration Former Real Property other than the Cummins Retained Former Filtration Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55) "<u>Cummins Retained Former Filtration Real Property</u>" means the real property set forth on <u>Schedule 1.1(55)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56) "<u>Cummins Retained IP</u>" shall mean (a) all Intellectual Property of the Cummins Group or the Filtration Group other than Filtration Intellectual Property, (b) any Intellectual Property licensed to Filtration pursuant to the Ancillary Agreements, and (c) the Cummins Retained Names.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57) "<u>Cummins Retained Liabilities</u>" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any and all Liabilities that are expressly contemplated by this Agreement or any Ancillary Agreement as Liabilities to be Assumed by Cummins or any other member of the Cummins Group, and all agreements, obligations and other Liabilities of Cummins or any member of the Cummins Group under this Agreement or any of the Ancillary Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any and all Liabilities of a member of the Cummins Group to the extent relating to, arising out of or resulting from any Cummins Retained Assets (other than Liabilities arising under any Shared Contract to the extent such Liabilities relate to the Filtration Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Liabilities listed on <u>Schedule 1.1(57)(c)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any and all Liabilities of Cummins and each of its Subsidiaries that are not Filtration Liabilities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any and all other Liabilities that are held by the Filtration Group or the Cummins Group immediately prior to the Effective Time that were inadvertently omitted or assigned that, had the Parties given specific consideration to such Liability as of the date of this Agreement, would have otherwise been classified as a Cummins Retained Liability based on the principles set forth in this <u>Section 1.1</u> <u>(57)</u> and <u>Section 1.1(97)</u>; <u>provided</u> that no Liability shall be a Cummins Retained Liability solely as a result of this clause (e) unless a claim with respect thereto is made by Cummins or Filtration on or prior to the date that is eighteen (18) months after the Effective Time.

Notwithstanding the foregoing, the Cummins Retained Liabilities (A) shall not include any Liabilities for Taxes that are governed by the Tax Matters Agreement, and (B) in any Dispute with respect to Cummins Retained Liabilities arising before the Effective Time, shall in any event be allocated by the Parties to the Cummins Group in accordance with the historical accounting and liability allocation practices of the Cummins Group before the Effective Time to the extent consistent with the basis of preparation for the Filtration Balance Sheet.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58) "<u>Cummins Retained Names</u>" shall mean the names and marks set forth in <u>Schedule 1.1(58)</u>, and any Trademarks containing or comprising any of such names or marks, and any Trademarks derivative thereof or confusingly similar thereto, or any telephone numbers or other alphanumeric addresses or mnemonics containing any of the foregoing names or marks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59) "<u>Cummins Shared Policies</u>" shall mean all insurance policies, insurance Contracts and claim administration Contracts of any kind of any member of the Cummins Group, which are in effect at the Effective Time and as may be renewed or replaced by any applicable member of the Cummins Group between the Effective Time and the Disposition Date, other than any Cummins D&O Insurance Policies, under which (a) members of the Cummins Group, on the one hand, and members of the Filtration Group, on the other hand, are eligible for coverage or (b) the employees, officers, directors or agents of both the Cummins Group and the Filtration Group are eligible for coverage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60) "<u>Cummins Transferee</u>" shall have the meaning set forth in <u>Section 7.9</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61) "<u>Data Controller</u>" shall have the meaning of the term "controller" set forth in the GDPR or any similar term under applicable Data Protection Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62) "<u>Data Protection Laws</u>" shall mean any and all Laws concerning the privacy, protection, security or Processing of Personal Data throughout the world, including the GDPR and any national Law supplementing the GDPR (such as, in the United Kingdom, the Data Protection Act 2018), and any regulations, or regulatory requirements, guidance and codes of practice applicable to the Processing of Personal Data (in each case, as amended or replaced from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) "<u>Debt-for-Equity Exchange</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64) "<u>Debt-for-Equity Exchange Agreement</u>" means the exchange agreement to be entered into among Cummins and the Debt-for-Equity Exchange Parties with respect to the Debt-for-Equity Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65) "<u>Debt-for-Equity Exchange Parties</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66) "<u>Deferred Transfers</u>" shall have the meaning set forth in <u>Section 2.6(a)(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67) "<u>Disposition Date</u>" shall mean the date on which the Cummins Group ceases to Beneficially Own shares of Filtration capital stock representing, in the aggregate, at least a majority of the total voting power of the then outstanding Filtration Voting Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68) "<u>Dispute Notice</u>" shall have the meaning set forth in <u>Section 8.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69) "<u>Disputes</u>" shall have the meaning set forth in <u>Section 8.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70) "<u>Distribution</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71) "<u>Effective Date</u>" shall mean the date of the closing of the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72) "<u>Effective Time</u>" shall mean 12:01 a.m., Indianapolis, Indiana time, on the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73) "<u>Employee Matters Agreement</u>" shall mean the Employee Matters Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit B</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74) "<u>Environmental Laws</u>" shall mean all Laws in effect prior to, on or after the Effective Date relating to pollution or protection of human health or safety or the environment, including Laws relating to the exposure to, or Release, threatened Release or the presence of Hazardous Substances, or otherwise relating to the manufacture, processing, distribution, import, use, treatment, storage, transport or handling of Hazardous Substances and all Laws with regard to recordkeeping, notification, disclosure and reporting requirements respecting Hazardous Substances, and all Laws relating to endangered or threatened species of fish, wildlife and plants and the management or use of natural resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75) "<u>Environmental Liabilities</u>" shall mean Liabilities relating to or arising out of Environmental Law or the Release or threatened Release of or exposure to Hazardous Substances, including the following: (a) actual or alleged violations of or non-compliance with any Environmental Law, including a failure to obtain, maintain or comply with any Environmental Permits; (b) obligations arising under or pursuant to any applicable Environmental Law or Environmental Permit; (c) the presence of Hazardous Substances or the introduction of Hazardous Substances to the environment at, in, on, under or migrating from any of the building, facility, structure or real property, including Liabilities relating to, resulting from or arising out of the investigation, remediation, or monitoring of such Hazardous Substances; (d) natural resource damages, property damages, personal or bodily injury or wrongful death relating to the presence of or exposure to Hazardous Substances, at, in, on, under or migrating to or from any building, facility, structure or real property; (e) the transport, disposal, recycling, reclamation, treatment or storage, Release or threatened Release of Hazardous Substances at Off-Site Locations; and (f) any agreement, decree, judgment, or order relating to the foregoing. The term "Environmental Liabilities" does not include Liabilities arising in connection with claims for injuries to persons or property from products sold by or services provided by the Filtration Group, the Cummins Group or their predecessors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76) "<u>Environmental Permit</u>" shall mean any permit, license, approval or other authorization issued under any applicable Law or by any Governmental Entity relating to Environmental Laws or Hazardous Substances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77) "<u>Excess Director Number</u>" shall have the meaning set forth in <u>Section 7.3(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78) "<u>Exchange Act</u>" shall mean the United States Securities Exchange Act of 1934, as amended, together with the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79) "<u>Excluded Environmental Liabilities</u>" shall mean any and all Environmental Liabilities whether arising before, at or after the Effective Time, to the extent relating to, resulting from, or arising out of the past, present or future operation, conduct, actions or inactions of any Cummins Retained Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80) "<u>Filtration</u>" shall have the meaning set forth in the Preamble.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81) "<u>Filtration Asset Transferee</u>" shall mean any Business Entity that is or will be a member of the Filtration Group or a Subsidiary of Filtration to which Filtration Assets shall be or have been Transferred at or prior to the Effective Time, or which is contemplated by the Internal Reorganization or this Agreement or the Ancillary Agreements to occur after the Effective Time, by an Asset Transferor in order to consummate the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82) "<u>Filtration Assets</u>" shall mean, without duplication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all interests in the capital stock of, or any other equity interests in, the members of the Filtration Group (other than Filtration) held, directly or indirectly, by Cummins immediately prior to the Effective Time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the equity interests in the entities set forth on <u>Schedule 1.1(82)(b)</u> held, directly or indirectly, by Cummins immediately prior to the Effective Time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Assets set forth on <u>Schedule 1.1(82)(c)</u> (which, for the avoidance of doubt, is not a comprehensive listing of all Filtration Assets and is not intended to limit other clauses of this definition of "Filtration Assets");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any and all Assets that are expressly contemplated by this Agreement or any Ancillary Agreement as Assets which have been or are to be Transferred to or retained by any member of the Filtration Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any and all Assets (other than Cash Equivalents, which shall be governed solely by <u>Section 2.13</u>, and Assets listed on <u>Schedule 1.1(82)(e)</u>) reflected on the Filtration Balance Sheet or the accounting records supporting the Filtration Balance Sheet and any Assets acquired by or for Filtration or any member of the Filtration Group subsequent to the date of the Filtration Balance Sheet which, had they been so acquired on or before such date and owned as of such date, would have been reflected on the Filtration Balance Sheet if prepared on a consistent basis, subject to any dispositions of any of such Assets subsequent to the date of the Filtration Balance Sheet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all rights, title and interest in and to the owned real property set forth on <u>Schedule 1.1(82)(f)</u>, including all land and land improvements, structures, buildings and building improvements, other improvements and appurtenances located thereon (the "<u>Filtration Owned Real Property</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) all rights, title and interest in, and to and under the leases or subleases of the real property set forth on <u>Schedule 1.1(82)(g)</u>, including, to the extent provided for in the applicable leases or subleases, any land and land improvements, structures, buildings and building improvements, other improvements and appurtenances (the "<u>Filtration Leased Real Property</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) all Contracts set forth on <u>Schedule 1.1(82)(h)</u> and all other Contracts exclusively related to the Filtration Business, in each case, including any rights or claims arising thereunder (the "<u>Filtration Contracts</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all Intellectual Property applications and registrations set forth on <u>Schedule 1.1(82)(i)</u> and all other Intellectual Property (other than the Cummins Retained IP) exclusively related to the Filtration Business (the "<u>Filtration Intellectual Property</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) all licenses, permits, registrations, approvals and authorizations which have been issued by any Governmental Entity and are held by a member of the Filtration Group, or to the extent transferable, relate exclusively to or, are used exclusively or held for use exclusively in the Filtration Business (other than to the extent that any member of the Cummins Group benefits from such licenses, permits, registrations, approvals and authorizations in connection with the Cummins Retained Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) all Information exclusively related to, or exclusively used or exclusively held for use in, the Filtration Business, in each case subject to the Intellectual Property License Agreement and the Data Sharing Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) excluding any Filtration Intellectual Property (which is addressed in <u>Section 1.1(82)(i)</u> above), the IT Assets that are exclusively used or exclusively held for use in the Filtration Business, including the IT Assets listed on <u>Schedule 1.1(82)(l)</u> ("<u>Filtration IT Assets</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) all office equipment and furnishings located at the physical site of which the ownership or a leasehold or sub leasehold interest is being transferred to or retained by a member of the Filtration Group, and which, as of the Effective Time, is not subject to a lease or sublease back to a member of the Cummins Group (excluding any office equipment and furnishings owned by Persons other than Cummins and its Subsidiaries);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) any rights to causes of action, lawsuits, judgments, claims, defenses against third Persons and demands of any nature relating to, arising out of or resulting from any Action listed on <u>Schedule 1.1(82)(n)</u> to the extent related to the Filtration Business or any other Action to the extent related to the Filtration Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) subject to <u>Article IX</u>, any rights of any member of the Filtration Group under any Policies held solely by one or more members of the Filtration Group and which provide coverage solely to one or more members of the Filtration Group (excluding any Policies issued by any captive insurance company of the Cummins Group); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) all other Assets (other than any Assets relating to the Filtration Intellectual Property, Filtration Owned Real Property, Filtration Group Landlord Property, Filtration Leased Real Property, or Assets that are of the type that would be listed in clauses (f), (g) and (i) through (n)) that are held by the Filtration Group or the Cummins Group immediately prior to the Effective Time and that are exclusively used or exclusively held for use in the Filtration Business as conducted immediately prior to the Effective Time (the intention of this clause (p) is only to rectify an inadvertent omission of transfer or assignment of any Asset that, had the Parties given specific consideration to such Asset as of the date of this Agreement, would have otherwise been classified as a Filtration Asset based on the principles of <u>Section 1.1(53)</u> and this <u>Section 1.1(82)</u>; <u>provided</u> that no Asset shall be a Filtration Asset solely as a result of this clause (p) unless a written claim with respect thereto is made by Filtration or Cummins on or prior to the date that is eighteen (18) months after the Effective Time).

Notwithstanding anything to the contrary in this Agreement, the Filtration Assets shall not include (i) any Assets that are expressly contemplated by this Agreement or by any Ancillary Agreement (or the Schedules hereto or thereto) as Assets to be retained by or Transferred to any member of the Cummins Group (including all Cummins Retained Assets), (ii) any Assets governed by the Tax Matters Agreement or (iii) any Assets that are expressly listed on <u>Schedule 1.1(53)(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83) "<u>Filtration Auditors</u>" shall have the meaning set forth in <u>Section 7.2(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84) "<u>Filtration Balance Sheet</u>" shall mean Filtration's unaudited pro forma combined condensed balance sheet, including the notes thereto, as of [●], 2022, as included in the IPO Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85) "<u>Filtration Board</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86) "<u>Filtration Business</u>" shall mean the filtration business currently included as part of the Cummins components reporting segment, exclusively consisting of the development, design, manufacture, sale and marketing of filters, coolants, and chemical technology products for first-fit and aftermarket diesel, gas-powered (including gasoline, natural gas and hydrogen internal combustion), battery electric and fuel cell electric equipment and vehicle applications, including air filters, fuel filers, fuel water separators, lube filters, hydraulic filters, coolants, fuel additives, coolant filters, water filters, crankcase ventilation filters and other filtration systems. Without limiting the foregoing, the "Filtration Business" includes the FleetguardFIT Filtration Business, the businesses and operations conducted prior to the Effective Time by any member of the Filtration Group and any other businesses or operations to the extent conducted through the use of the Filtration Assets, as such businesses are described in the IPO Registration Statement, or established by or for Filtration or any of its Subsidiaries after the Effective Time, including the Filtration Former Businesses; <u>provided</u> that the Filtration Business shall not include any Cummins Former Business or, as of the Effective Time, any business consisting of the development, design, manufacture, sale or marketing of sensor-based real-time monitoring solutions or systems other than the FleetguardFIT Filtration Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(87) "<u>Filtration Common Stock</u>" shall mean the common stock, par value $0.0001 per share, of Filtration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88) "<u>Filtration Debt Obligations</u>" shall mean all Indebtedness of Filtration or any other member of the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89) "<u>Filtration Disclosure</u>" shall mean any form, statement, schedule or other material (other than the IPO Disclosure Documents) filed with or furnished to the Commission, including in connection with Filtration's obligations under the Securities Act and the Exchange Act, any other Governmental Entity, or holders of any securities of any member of the Filtration Group, in each case, on or after the Effective Date by or on behalf of any member of the Filtration Group in connection with the registration, sale or distribution of securities or disclosure related thereto (including periodic disclosure obligations).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90) "<u>Filtration Environmental Liabilities</u>" shall mean any and all Environmental Liabilities, whether arising before, at or after the Effective Time, to the extent relating to or resulting from or arising out of (a) the past, present or future operation, conduct, action or inaction of the Filtration Group, Filtration Business or the past, present or future use of the Filtration Assets, or (b) the Filtration Former Businesses or Filtration Former Real Property, including any agreement, decree, judgment or order relating to the foregoing entered into by Cummins or any Affiliate of Cummins prior to the Effective Time, or (c) the matters described on <u>Schedule 1.1(90)(c)</u>, but excluding in case of each of the preceding clauses (a) through (c), the Excluded Environmental Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91) "<u>Filtration Financing Arrangements</u>" shall mean the financing arrangements described on <u>Schedule 1.1(91)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92) "<u>Filtration Former Businesses</u>" shall mean any Former Business to the extent that, at the time of sale, conveyance, assignment, transfer, disposition, divestiture (in whole or in part) or discontinuation, abandonment, completion or termination of the operations, activities or production thereof, such Former Business was (a) managed by or associated with the Filtration Business as then conducted or (b) part of a business that as of the Effective Date is or was Transferred to Filtration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93) "<u>Filtration Former Real Property</u>" shall mean any real property that is no longer owned, leased or used by the Filtration Group or the Cummins Group to the extent that, at the time of sale, conveyance, assignment, transfer, disposition, divestiture (in whole or in part) or discontinuation, abandonment, completion or termination of the operations, activities or production on or of such real property, was owned, leased or operated in connection with the Filtration Business or any of the Filtration Former Businesses, other than the Cummins Retained Former Filtration Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94) "<u>Filtration Group</u>" shall mean Filtration and each Person that is a direct or indirect Subsidiary of Filtration as of the Effective Time (but after giving effect to the Internal Reorganization), and each Person that becomes a Subsidiary of Filtration after the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95) "<u>Filtration Group Landlord Property</u>" shall mean the Filtration Owned Real Property as to which the Cummins Group will enter into a lease or other agreement to conduct business operations after the Effective Time. A list of the Filtration Group Landlord Property is set forth on <u>Schedule 1.1(95)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96) "<u>Filtration Indemnitees</u>" shall mean each member of the Filtration Group and each of their respective Affiliates from and after the Effective Time and each member of the Filtration Group's and such respective Affiliates' respective current, former and future directors, officers, employees and agents (solely in their respective capacities as current, former and future directors, officers, employees or agents of any member of the Filtration Group or their respective Affiliates) and each of the heirs, administrators, executors, successors and assigns of any of the foregoing, except, for the avoidance of doubt, the Cummins Indemnitees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97) "<u>Filtration Liabilities</u>" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any and all Liabilities to the extent relating to, arising out of or resulting from (i) the operation or conduct of the Filtration Business, as conducted at any time prior to, at or after the Effective Time (including any Liability relating to, arising out of or resulting from any act or failure to act by any past or present director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such Person's authority) of the Filtration Group); (ii) the operation or conduct of any business conducted by any member of the Filtration Group at any time after the Effective Time (including any Liability relating to, arising out of or resulting from any act or failure to act by any past or present director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such Person's authority) of the Filtration Group); or (iii) any Filtration Asset, whether arising before, at or after the Effective Time (including any Liability relating to, arising out of or resulting from Filtration Contracts, Shared Contracts (to the extent such Liability relates to the Filtration Business) and any real property and leasehold interests);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Liabilities set forth on <u>Schedule 1.1(97)(b)</u> and any and all other Liabilities that are expressly provided by this Agreement or any of the Ancillary Agreements as Liabilities to be Assumed by Filtration or any other member of the Filtration Group, and all agreements, obligations and Liabilities of Filtration or any other member of the Filtration Group under this Agreement or any of the Ancillary Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any and all Liabilities reflected on the Filtration Balance Sheet (other than those in <u>Schedule 1.1(97)(c)</u>) or the accounting records supporting the Filtration Balance Sheet and any Liabilities incurred by or for Filtration or any member of the Filtration Group subsequent to the date of the Filtration Balance Sheet which, had they been so incurred on or before such date, would have been reflected on the Filtration Balance Sheet if prepared on a consistent basis, subject to any discharge of any of such Liabilities subsequent to the date of the Filtration Balance Sheet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any and all Liabilities to the extent relating to, arising out of or resulting from, whether prior to, at or after the Effective Time, any infringement, misappropriation or other violation of any Intellectual Property of any other Person related to the conduct of the Filtration Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any and all Liabilities to the extent relating to, arising out of or resulting from, whether prior to, at or after the Effective Time, any security incident, breach of system security or breach of Personal Data related to the conduct of the Filtration Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any and all Filtration Environmental Liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any and all Liabilities (including under applicable federal and state securities Laws) relating to, arising out of or resulting from (i) the IPO Disclosure Documents or (ii) any Filtration Disclosure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) for the avoidance of doubt, and without limiting any other matters that may constitute Filtration Liabilities, any Liabilities relating to, arising out of or resulting from any Action listed on <u>Schedule 1.1(97)(h)</u> to the extent related to the Filtration Business or any other Action to the extent related to the Filtration Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any product liability claims or other claims of third parties, in each case, to the extent relating to, arising out of or resulting from any product developed, designed, manufactured, marketed, distributed, leased or sold by the Filtration Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any and all Liabilities relating to, arising out of or resulting from any Indebtedness of any member of the Filtration Group or any Indebtedness secured exclusively or in part (to the extent of such part) by any of the Filtration Assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any and all other Liabilities that are held by the Filtration Group or the Cummins Group immediately prior to the Effective Time that were inadvertently omitted or assigned that, had the Parties given specific consideration to such Liability as of the date of this Agreement, would have otherwise been classified as a Filtration Liability based on the principles set forth in this <u>Section 1.1(97)</u>; <u>provided</u> that no Liability shall be a Filtration Liability solely as a result of this clause (k) unless a claim with respect thereto is made by Cummins or Filtration on or prior to the date that is eighteen (18) months after the Effective Time.

Notwithstanding the foregoing, the Filtration Liabilities (A) shall not include any Liabilities that are (1) expressly contemplated by this Agreement or by any Ancillary Agreement (or the Schedules hereto or thereto) as Liabilities to be Assumed by any member of the Cummins Group, (2) expressly discharged pursuant to <u>Section 2.4(c)</u> of this Agreement or (3) Cummins Retained Liabilities and (B) in any Dispute with respect to Filtration Liabilities arising before the Effective Time, shall in any event be allocated by the Parties to the Filtration Group in accordance with the historical accounting and liability allocation practices of the Cummins Group before the Effective Time to the extent consistent with the basis of preparation for the Filtration Balance Sheet.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98) "<u>Filtration Non-Compete Products</u>" shall mean the filter housings, filters, filter cartridges, filter modules and filter interfaces, including filter sealing surfaces, filter housing threads and filter attachment designs, designed, developed, manufactured, marketed or sold in the conduct of the Filtration Business as of the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99) "<u>Filtration Non-Voting Stock</u>" shall mean any class or series of Filtration's capital stock, and any warrant, option or right in such stock, other than the Filtration Voting Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100) "<u>Filtration Personal Data</u>" shall mean Personal Data of the Filtration Group that is used in or by, or otherwise related to, any Filtration Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101) "<u>Filtration Public Documents</u>" shall have the meaning set forth in <u>Section 7.1(h)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(102) "<u>Filtration Released Liabilities</u>" shall have the meaning set forth in <u>Section 5.1(a)(ii)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(103) "<u>Filtration Securities</u>" shall mean any Filtration capital stock and any rights, warrants or options to acquire Filtration capital stock (including securities convertible into or exchangeable for Filtration capital stock).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104) "<u>Filtration Voting Stock</u>" shall mean all classes and series of the capital stock of Filtration entitled to vote generally with respect to the election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105) "<u>Final Determination</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106) "<u>Financial Delivery Practices</u>" shall have the meaning set forth in <u>Section 7.1(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107) "<u>Financial Statements</u>" shall mean the Annual Financial Statements and Quarterly Financial Statements, collectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108) "<u>First-Fit Supply Agreement</u>" shall mean the Supply Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit C</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109) "<u>FleetguardFIT Filtration Business</u>" shall mean the business consisting of the development, design, manufacture, sale and marketing of the "FleetguardFIT"-brand sensor-based real-time filter monitoring system for first-fit and aftermarket diesel and gas-powered (including gasoline, natural gas and hydrogen internal combustion) equipment and vehicle applications as currently included as part of the Cummins components reporting segment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110) "<u>Former Business</u>" shall mean any corporation, partnership, entity, division, business unit or business (in each case, including any Assets and Liabilities comprising the same) that has been sold, conveyed, assigned, transferred, spun-off, split-off or otherwise disposed of or divested (in whole or in part) to a Person or Persons that is not a member of the Filtration Group or the Cummins Group or the operations, activities or production of which has been discontinued, abandoned, completed or otherwise terminated (in whole or in part), in each case, prior to the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(111) "<u>GAAP</u>" shall mean accounting principles generally accepted in the United States of America, applied on a basis consistent within the Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(112) "<u>GDPR</u>" shall mean the General Data Protection Regulation (EU) 2016/679.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113) "<u>Government Official</u>" shall mean (a) any elected or appointed governmental official (*e.g.*, a member of a ministry of health), (b) any employee or person acting for or on behalf of a governmental official, agency or enterprise performing a governmental function, (c) any candidate for public office, political party officer, employee or person acting for or on behalf of a political party or candidate for public office or (d) any person otherwise categorized as a Government Official under local Law. As used in this definition, "Government" is meant to include all levels and subdivisions of United States and international governments (*i.e.*, local, regional or national and administrative, legislative or executive).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(114) "<u>Governmental Approvals</u>" shall mean any notices or reports to be submitted to, or other registrations or filings to be made with, or any consents, approvals, licenses, permits or authorizations to be obtained from, any Governmental Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(115) "<u>Governmental Entity</u>" shall mean any nation or government, any state, municipality or other political subdivision thereof and any entity, body, agency, commission, department, board, bureau or court, whether domestic, foreign, multinational, or supranational exercising executive, legislative, judicial, regulatory, self-regulatory or administrative functions of or pertaining to government and any executive official thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116) "<u>Group</u>" shall mean (a) with respect to Cummins, the Cummins Group and (b) with respect to Filtration, the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117) "<u>Hazardous Substances</u>" shall mean (a) any substances defined, listed, classified or regulated as "hazardous substances," "hazardous wastes," "hazardous materials," "extremely hazardous wastes," "restricted hazardous wastes," "toxic substances," "toxic pollutants," "contaminants," "pollutants," "wastes," "radioactive materials," "petroleum," "oils" or designations of similar import under any Environmental Law; (b) any other hazardous or radioactive substance, contaminant, or waste, including per- and polyfluoroalkyl substances, perfluorooctanoic acid, perfluorooctane sulfonate, asbestos, polychlorinated biphenyls, petroleum, petroleum products or any fraction thereof, petroleum byproducts, mold and urea formaldehyde; (c) any other substance with respect to which any Environmental Law or Governmental Entity requires environmental investigation, regulation, monitoring or remediation, including per- and polyfluoroalkyl substances, perfluorooctanoic acid, perfluorooctane sulfonate, asbestos, polychlorinated biphenyls, petroleum, petroleum products or any fraction thereof, petroleum byproducts, mold and urea formaldehyde; and (d) any other chemical or other material, waste or substance, exposure to which is prohibited, limited or regulated by or under any Environmental Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118) "<u>Indebtedness</u>" shall mean, with respect to any Person: (a) the principal amount, interest, premiums, prepayment and redemption premiums and penalties (if any), breakage costs, fees, expenses, overdrafts and penalties with respect thereto and other obligations in respect of any indebtedness for borrowed money, whether short term or long term, and all obligations evidenced by bonds, debentures, notes, other debt securities or similar instruments; (b) any indebtedness or other obligations in respect of any capital or finance leases (excluding, for the avoidance of doubt, any real estate leases), whether short term or long term; (c) all obligations secured by any Security Interest on any assets of such Person; (d) all obligations in respect of any foreign currency exchange agreements or any interest rate, currency, commodity or other swap, collar, cap or other hedging or similar agreements or arrangements or other derivatives; (e) all obligations in respect of any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement or other similar agreement designed to protect such Person against fluctuations in interest rates; (f) all obligations in respect of the deferred and unpaid purchase price of any property or asset, whether tangible or intangible, or any services; (g) all obligations in respect of any Credit Support Instruments; (h) all obligations in respect of any off-balance sheet financing, including synthetic leases and project financing; (i) all accrued severance and accrued but unpaid dividends, including the employer portion of any payroll taxes relating thereto; (j) any distributions, loans, or advances payable by such Person to any of such Person's Affiliates, stockholders, members, or partners; (k) all interest, fees and other expenses owed with respect to indebtedness described in the foregoing clauses (a) through (j); and (l) without duplication, all guarantees of indebtedness referred to in the foregoing clauses (a) through (k) (including guarantees of such indebtedness of any other Person).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(119) "<u>Indemnifiable Loss</u>" and "<u>Indemnifiable Losses</u>" shall mean any and all damages, losses, deficiencies, Liabilities, Taxes, obligations, penalties, judgments, settlements, claims, payments, fines, interest, costs and expenses (including the costs and expenses of any and all Actions and demands, assessments, judgments, settlements and compromises relating thereto and the costs and expenses of attorneys', accountants', consultants' and other professionals' fees and expenses incurred in the investigation or defense thereof or the enforcement of rights under this Agreement); <u>provided</u>, <u>however</u>, that Indemnifiable Losses shall not mean or include (a) any special, incidental, indirect, collateral, consequential or punitive damages, (b) any damages based on diminution of value or loss of revenue, income, profit or loss of business opportunity or reputation, or (c) any damages calculated based on multiples of earnings or other metrics suffered by an Indemnitee, however caused and on any theory of liability, in each case of the preceding (a), (b) or (c), other than to the extent an Indemnitee is required to pay any such damages to a Person who is not a member of either Group in connection with a Third Party Claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120) "<u>Indemnifiable Taxes</u>" shall mean (a) any and all Taxes relating to, arising out of, by reason of or otherwise in connection with (i) a breach of <u>Section 10.23</u>, or (ii) IPO Disclosure Documents, and (b) Reporting-Related Taxes incurred by an Affected Member and subject to <u>Section 10.23(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(121) "<u>Indemnifying Party</u>" shall have the meaning set forth in <u>Section 5.4(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(122) "<u>Indemnitee</u>" shall have the meaning set forth in <u>Section 5.4(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123) "<u>Indemnity Payment</u>" shall have the meaning set forth in <u>Section 5.7(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(124) "<u>Information</u>" shall mean information, content and data (including Personal Data) in written, oral, electronic, computerized, digital or other tangible or intangible media, including: (a) books and records, whether accounting, legal or otherwise, ledgers, studies, reports, surveys, designs, specifications, drawings, blueprints, diagrams, models, prototypes, samples, flow charts, marketing plans, customer names and information (including prospects), technical information relating to the design, operation, testing, test results, development, and manufacture of any Party's or its Group's products or facilities (including product or facility specifications and documentation; engineering, design and manufacturing drawings, diagrams, layouts, maps and illustrations; formulations and material specifications; laboratory studies and benchmark tests; quality assurance policies procedures and specifications; evaluation and/validation studies; process control or shop-floor control strategy, logic or algorithms; assembly code, software, firmware, programming data, databases, and all information referred to in the same); product costs, margins and pricing; as well as product marketing studies and strategies; all other methodologies, procedures, techniques and Know-How related to research, engineering, development and manufacturing; communications, correspondence, materials, product literature, artwork, files, documents; and (b) financial and business information, including earnings reports and forecasts, macro-economic reports and forecasts, all cost information (including supplier records and lists), sales and pricing data, business plans, market evaluations, surveys, credit-related information, and other such information as may be needed for reasonable compliance with reporting, disclosure, filing or other requirements, including under applicable securities laws or regulations of securities exchanges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(125) "<u>Insurance Proceeds</u>" shall mean those monies (a) received by an insured from an insurance carrier (excluding any captive insurance maintained by Cummins or its Subsidiaries) or (b) paid by an insurance carrier (excluding any captive insurance maintained by Cummins or its Subsidiaries) on behalf of an insured, in each case, net of any applicable deductible or retention.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(126) "<u>Insured Claims</u>" shall mean those Liabilities that, individually or in the aggregate, are covered within the terms and conditions of any of the Cummins Shared Policies, whether or not subject to deductibles, co-insurance, uncollectability or retrospectively-rated premium adjustments, but only to the extent that such Liabilities are within applicable Cummins Shared Policy limits, including aggregates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127) "<u>Intellectual Property</u>" shall mean all United States and international: (a) trademarks, trade dress, service marks, certification marks, logos, slogans, design rights, names, corporate names, trade names, Internet domain names, social media accounts and addresses and other similar designations of source or origin, together with the goodwill symbolized by any of the foregoing (collectively, "<u>Trademarks</u>"); (b) patents and patent applications, and any and all related national or international counterparts thereto, including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions thereof (collectively, "<u>Patents</u>"); (c) copyrights and copyrightable subject matter, excluding Know-How (collectively, "<u>Copyrights</u>"); (d) trade secrets, and all other confidential or proprietary information, know-how, inventions, processes, formulae, models, and methodologies, excluding Patents (collectively, "<u>Know-How</u>"); (e) all applications and registrations for any of the foregoing; and (f) all rights and remedies against past, present and future infringement, misappropriation or other violation of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128) "<u>Intellectual Property License Agreement</u>" shall mean the Intellectual Property License Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit D</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129) "<u>Intended Tax Treatment</u>" shall have the meaning set forth in <u>Section 10.23(c)(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130) "<u>Intercompany Amounts</u>" shall mean all intercompany receivables and payables and intercompany balances, including in respect of any cash balances, any cash balances representing deposited checks or drafts, or any cash held in any centralized cash pooling arrangement between any member of the Cummins Group, on the one hand, and any member of the Filtration Group, on the other hand, which exist and are reflected in the accounting records of the relevant Parties immediately prior to the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131) "<u>Interim Relief</u>" shall have the meaning set forth in <u>Section 8.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132) "<u>Internal Reorganization</u>" shall mean the allocation and Transfer of Assets and Liabilities (including entities holding Assets or Liabilities), including by means of the Conveyancing and Assumption Instruments, resulting in (a) the Filtration Group owning and operating the Filtration Business, and (b) the Cummins Group continuing to own and operate the Cummins Retained Business, all as described in the Plan of Internal Reorganization set forth on <u>Schedule 1.1(132)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(133) "<u>IPO</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134) "<u>IPO Disclosure Documents</u>" shall mean the IPO Registration Statement and all exhibits thereto, any prospectuses, any current reports on Form 8-K and the registration statement on Form S-8 related to securities to be offered under Filtration's employee benefit plans, in each case, as filed or furnished by Filtration with or to the Commission in connection with the IPO, or as filed or furnished by Cummins with or to the Commission, but in the case of Cummins, solely to the extent such documents relate to Filtration or the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(135) "<u>IPO Registration Statement</u>" shall mean the registration statement on Form S-l (File No. 333–[●]) filed under the Securities Act, pursuant to which the Filtration Common Stock to be issued in the IPO will be registered, together with all amendments thereto (including post-effective amendments and registration statements filed pursuant to Rule 462(b) under the Securities Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(136) "<u>IT Assets</u>" shall mean all software, computer systems, telecommunications equipment, databases, Internet Protocol addresses, data rights and documentation, reference, resource and training materials relating thereto, and all Contracts (including Contract rights) relating to any of the foregoing (including software license agreements, source code escrow agreements, support and maintenance agreements, electronic database access contracts, domain name registration agreements, website hosting agreements, software or website development agreements, outsourcing agreements, service provider agreements, interconnection agreements, governmental permits, radio licenses and telecommunications agreements).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(137) "<u>Law</u>" shall mean any applicable United States or international federal, national, supranational, state, provincial, local or similar statute, law, ordinance, regulation, rule, code, income tax treaty, order, requirement or rule of law (including common law) or other binding directives promulgated, issued, entered into or taken by any Governmental Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138) "<u>Liabilities</u>" shall mean any and all Indebtedness, liabilities, costs, expenses, interest and obligations, whether accrued or fixed, absolute or contingent, matured or unmatured, known or unknown, reserved or unreserved, or determined or determinable, including those arising under any Law (including Environmental Law), Action, whether asserted or unasserted, or order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Entity and those arising under any Contract or any fines, damages or equitable relief which may be imposed and including all costs and expenses related thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(139) "<u>Liable Party</u>" shall have the meaning set forth in <u>Section 2.9(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(140) "<u>linked</u>" shall have the meaning set forth in <u>Section 2.13(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(141) "<u>Measurement Date</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142) "<u>Negotiation Period</u>" shall have the meaning set forth in <u>Section 8.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(143) "<u>Non-Compete Period</u>" shall have the meaning set forth in <u>Section 4.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(144) "<u>Off-Site Location</u>" shall mean any third-party real property that is not now nor has ever been owned, leased or operated by the Cummins Group or the Filtration Group or any of their respective predecessors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(145) "<u>Other Disposition</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(146) "<u>Other Party</u>" shall have the meaning set forth in <u>Section 2.9(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147) "<u>Overlapping Director</u>" shall mean any director that (a) concurrently serves on the Filtration Board and the Cummins Board or (b) concurrently serves on the Filtration Board and is a member of the senior management team of Cummins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148) "<u>Party</u>" and "<u>Parties</u>" shall have the meanings set forth in the Preamble.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(149) "<u>Person</u>" shall mean any natural person, firm, individual, corporation, business trust, joint venture, association, bank, land trust, trust company, company, limited liability company, private limited company, partnership, or other organization or entity, whether incorporated or unincorporated, or any Governmental Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150) "<u>Personal Data</u>" shall have the meaning of the term "personal data" set forth in the GDPR or any similar term under applicable Data Protection Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(151) "<u>Policies</u>" shall mean insurance policies and insurance Contracts of any kind (other than life and benefits policies or Contracts), including primary, excess and umbrella, commercial general liability, products, fiduciary liability, employment practices liability, directors and officers liability, automobile, property and casualty, workers' compensation and employee dishonesty insurance policies and bonds, and captive insurance company arrangements, together with all rights, benefits and privileges thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(152) "<u>Prime Rate</u>" shall mean the rate last quoted as of the time of determination by The Wall Street Journal as the "Prime Rate" in the United States or, if the Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the "bank prime loan" rate as of such time or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by Cummins) or any similar release by the Federal Reserve Board (as determined by Cummins).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153) "<u>Privilege</u>" shall have the meaning set forth in <u>Section 6.6(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(154) "<u>Privileged Information</u>" shall have the meaning set forth in <u>Section 6.6(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(155) "<u>Processing</u>" (and its cognates) shall have the meaning of the term "processing" set forth in the GDPR or any similar term under applicable Data Protection Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156) "<u>Quarterly Financial Statements</u>" shall have the meaning set forth in <u>Section 7.1(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(157) "<u>Registration Rights Agreement</u>" shall mean the Registration Rights Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit E</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(158) "<u>Release</u>" shall mean any release, spill, emission, discharge, leaking, pumping, injection, deposit, disposal, dispersal, leaching or migration into the indoor or outdoor environment (including ambient air, surface water, groundwater and surface or subsurface strata) or into or out of any property, including the movement of Hazardous Substances through or in the air, soil, surface water, groundwater or property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159) "<u>Released Insurance Matters</u>" shall have the meaning set forth in <u>Section 9.1(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160) "<u>Reporting Member</u>" shall have the meaning set forth in <u>Section 10.23(c)(iii)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(161) "<u>Reporting-Related Taxes</u>" shall have the meaning set forth in <u>Section 10.23(c)(iii)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162) "<u>Restricted Period</u>" shall have the meaning set forth in <u>Section 4.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163) "<u>Rules</u>" shall have the meaning set forth in <u>Section 8.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(164) "<u>Section 16 Reports</u>" shall have the meaning set forth in <u>Section 7.1(h)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(165) "<u>Securities Act</u>" shall mean the Securities Act of 1933, together with the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(166) "<u>Security Interest</u>" shall mean any mortgage, security interest, pledge, lien, charge, claim, option, right to acquire, voting or other restriction, right-of-entry, covenant, condition, easement, encroachment, restriction on transfer, or other encumbrance of any nature whatsoever, excluding restrictions on transfer under applicable securities Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167) "<u>Services</u>" shall have the meaning set forth in the Transition Services Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(168) "<u>Shared Contract</u>" shall have the meaning set forth in <u>Section 2.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(169) "<u>Subsidiary</u>" shall mean, with respect to any Person: (a) a corporation, fifty percent (50%) or more of the voting or capital stock of which is, as of the time in question, directly or indirectly owned by such Person; and (b) any other Person in which such Person, directly or indirectly, owns fifty percent (50%) or more of the equity or economic interest thereof or has the power to elect or direct the election of fifty percent (50%) or more of the members of the governing body of such Person. It is expressly agreed that, from and after the Effective Time, solely for purposes of this Agreement, neither Filtration nor any other member of the Filtration Group shall be deemed a Subsidiary of Cummins or any other member of the Cummins Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170) "<u>Supply Agreement</u>" shall mean either of the Aftermarket Supply Agreement or the First-Fit Supply Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171) "<u>Tax</u>" or "<u>Taxes</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172) "<u>Tax Matters Agreement</u>" shall mean the Tax Matters Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit F</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(173) "<u>Tax Returns</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(174) "<u>Taxing Authority</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(175) "<u>Third Party Agreements</u>" shall mean any and all Contracts between or among a Party (or any member of its Group) and any other Persons (other than either Party or any member of its respective Group) (it being understood that, to the extent that the rights and obligations of the Parties and the members of their respective Groups under any such Contracts constitute Filtration Assets or Filtration Liabilities, or Cummins Retained Assets or Cummins Retained Liabilities, such Contracts shall be assigned or retained pursuant to <u>Article II</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(176) "<u>Third Party Claim</u>" shall have the meaning set forth in <u>Section 5.4(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(177) "<u>Third Party Proceeds</u>" shall have the meaning set forth in <u>Section 5.7(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(178) "<u>Transaction Taxes</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(179) "<u>Transactions</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(180) "<u>Transfer</u>" shall have the meaning set forth in <u>Section 2.2(b)(i)</u>; and the term "<u>Transferred</u>" shall have its correlative meaning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(181) "<u>Transition Services Agreement</u>" shall mean the Transition Services Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit G</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182) "<u>Transitional Trademark License Agreement</u>" shall mean the Transitional Trademark License Agreement by and between Cummins and Filtration, in the form attached hereto as <u>Exhibit H</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(183) "<u>Underwriters</u>" shall mean the managing underwriters for the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184) "<u>Underwriting Agreement</u>" shall mean the underwriting agreement among Cummins, Filtration, the Debt-for-Equity Exchange Parties, and the Underwriters, as representatives of the several underwriters named therein, with respect to the IPO.

Section 1.2 <u>References; Interpretation</u>. Unless the context otherwise requires: (a) references in this Agreement to any gender include references to all genders, and references to the singular include references to the plural and vice versa; (b) the words "include", "includes" and "including" when used in this Agreement shall be deemed to be followed by the phrase "without limitation"; (c) references in this Agreement to Articles, Sections, Annexes, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Annexes, Exhibits and Schedules to, this Agreement; (d) the words "hereof", "hereby" and "herein" and words of similar meaning when used in this Agreement refer to this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement; (e) references in this Agreement to "$" shall mean United States dollars; (f) the word "or" when used in this Agreement shall not be exclusive; (g) references in this Agreement to "days" means calendar days unless Business Days are expressly specified; (h) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and, if the last day of such period is not a Business Day, then the period shall end on the next succeeding Business Day; (i) the words "written request" when used in this Agreement shall include email; (j) references in this Agreement to any time shall be to Indianapolis, Indiana time unless otherwise expressly provided herein; (k) references in this Agreement to a percentage or a majority of Filtration Common Stock or Filtration Voting Stock shall mean such percentage or majority determined on a fully-diluted basis between the Effective Time and the Disposition Date; and (l) references in this Agreement to any Person includes such Person's permitted successors and permitted assigns. Unless the context otherwise requires, references in this Agreement to "Cummins" shall also be deemed to refer to the applicable member of the Cummins Group, references to "Filtration" shall also be deemed to refer to the applicable member of the Filtration Group and, in connection therewith, any references to actions or omissions to be taken, or refrained from being taken, as the case may be, by Cummins or Filtration shall be deemed to require Cummins or Filtration, as the case may be, to cause the applicable members of the Cummins Group or the Filtration Group, respectively, to take, or refrain from taking, any such action. Unless otherwise expressly provided herein, whenever Cummins's consent is required under this Agreement, such consent may be withheld, delayed or conditioned by Cummins in its discretion, and whenever any action hereunder is at Cummins's discretion, such action shall be at Cummins's discretion. In the event of any inconsistency or conflict which may arise in the application or interpretation of any of the definitions set forth in <u>Section 1.1</u>, for the purpose of determining what is and is not included in such definitions, any item explicitly included on a Schedule referred to in any such definition shall take priority over any provision of the text thereof.

**Article II<u><br> THE SEPARATION</u>**

Section 2.1 <u>General</u>. Subject to the terms and conditions of this Agreement, the Parties shall use, and shall cause their respective Affiliates to use, their respective commercially reasonable efforts to consummate the transactions contemplated hereby, including the completion of the Internal Reorganization, a portion of which may have already been completed prior to the date hereof.

Section 2.2 <u>Internal Reorganization; Transfer of Assets; Assumption of Liabilities.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Internal Reorganization</u>. Prior to the Effective Time, except for Transfers contemplated by the Internal Reorganization or this Agreement or the Ancillary Agreements to occur at or after the Effective Time, the Parties shall complete the Internal Reorganization, including by taking the actions referred to in <u>Section 2.2(b)</u> and <u>Section 2.2(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Transfer of Assets</u>. At or prior to the Effective Time (it being understood that some of such Transfers may occur following the Effective Time in accordance with <u>Section 2.2(a)</u> and <u>Section 2.6</u>), pursuant to the Conveyancing and Assumption Instruments and in connection with the Contribution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Filtration and Cummins shall, and shall cause the applicable Asset Transferors to, sell, transfer, contribute, distribute, assign or convey or cause to be sold, transferred, contributed, distributed, assigned or conveyed ("<u>Transfer</u>") to (A) the respective Cummins Asset Transferees, all of the applicable Asset Transferors' right, title and interest in and to the Cummins Retained Assets, and the applicable Cummins Asset Transferee shall accept from Cummins or Filtration and the applicable members of the Cummins Group or the Filtration Group all of Cummins', Filtration's and the other members of the Cummins Group's or the Filtration Group's respective direct or indirect rights, title and interest in and to the applicable Assets, including all of the outstanding shares of capital stock or other ownership interests that are included in the Cummins Retained Assets; and (B) Filtration or the respective Filtration Asset Transferees, all of its and the applicable Asset Transferors' right, title and interest in and to the Filtration Assets, and the applicable Filtration Asset Transferees shall accept from Cummins and the applicable members of the Cummins Group, all of Cummins' and the other members of the Cummins Group's respective direct or indirect rights, title and interest in and to the applicable Assets, including all of the outstanding shares of capital stock or other ownership interests that are included in the Filtration Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any costs and expenses incurred after the Effective Time to effect any Transfer contemplated by this <u>Section 2.2(b)</u> (including any Transfer effected pursuant to <u>Section 2.6</u>) shall be paid by the Parties as set forth on <u>Section 10.5(b)</u>. Other than costs and expenses incurred in accordance with the foregoing sentence, nothing in this <u>Section 2.2(b)</u> shall require any member of any Group to incur any material obligation or grant any material concession for the benefit of any member of any other Group in order to effect any transaction contemplated by this <u>Section 2.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Assumption of Liabilities</u>. Except as otherwise expressly set forth in this Agreement or any Ancillary Agreement, in connection with the Internal Reorganization and the Contribution or, if applicable, from and after the Effective Time: (i) pursuant to this Agreement or the applicable Conveyancing and Assumption Instruments, Cummins shall, or shall cause a member of the Cummins Group to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill, in accordance with their respective terms ("<u>Assume</u>"), all of the Cummins Retained Liabilities; and (ii) pursuant to this Agreement or the applicable Conveyancing and Assumption Instruments, Filtration shall, or shall cause a member of the Filtration Group to, Assume all of the Filtration Liabilities, in each case, regardless of (A) when or where such Liabilities arose or arise, (B) whether the facts upon which they are based occurred prior to, at or subsequent to the Effective Time, (C) whether accruals for such Liabilities have been transferred to Filtration or included on a combined balance sheet of the Filtration Business or whether any such accruals are sufficient to cover such Liabilities, (D) where or against whom such Liabilities are asserted or determined, (E) whether arising from or alleged to arise from negligence, gross negligence, recklessness, violation of Law, fraud or misrepresentation by any member of the Cummins Group or the Filtration Group, as the case may be, or any of their past or present respective directors, officers, employees, agents, Subsidiaries or Affiliates, (F) which entity is named in any Action associated with any Liability, or (G) any benefits, or lack thereof, that have been or may be obtained by the Cummins Group or the Filtration Group, as the case may be, in respect of such Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Consents</u>. The Parties shall use their commercially reasonable efforts to obtain the Consents required to Transfer any Assets, Contracts, licenses, permits and authorizations issued by any Governmental Entity or parts thereof as contemplated by this Agreement or any Ancillary Agreement. Notwithstanding anything in this Agreement or any Ancillary Agreement to the contrary, no Contract or other Asset shall be transferred if it would violate applicable Law or, in the case of any Contract, the rights of any third party to such Contract; <u>provided</u> that <u>Section 2.6</u>, to the extent provided therein, shall apply thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Actions Prior to Agreement Date</u>. It is understood and agreed by the Parties that certain of the Transfers referenced in <u>Section 2.2(b)</u> or Assumptions referenced in <u>Section 2.2(c)</u> have occurred prior to the date hereof and, as a result, no additional Transfers or Assumptions by any member of the Cummins Group or the Filtration Group, as applicable, shall be deemed to occur upon the execution of this Agreement with respect thereto. Moreover, to the extent that any member of the Cummins Group or the Filtration Group, as applicable, is liable for any Cummins Retained Liability or Assumed Liability, respectively, by operation of Law immediately following any Transfer in accordance with this Agreement or any Conveyancing and Assumption Instruments, there shall be no need for any other member of the Cummins Group or the Filtration Group, as applicable, to Assume such Liability in connection with the operation of <u>Section 2.2(c)</u> and, accordingly, no other member of such Group shall Assume any such Liability in connection with <u>Section 2.2(c)</u>.

Section 2.3 <u>Treatment of Shared Contracts</u>. Without limiting the generality of the obligations set forth in <u>Section 2.2(a)</u> and <u>Section 2.2(b)</u>, unless the Parties otherwise agree or the rights and benefits of any Contract described in this <u>Section 2.3</u> are addressed under or pursuant to an Ancillary Agreement, any Contract, a portion of which would constitute a Filtration Contract if considered on a stand-alone basis, but the remainder of which would constitute a Cummins Retained Asset (each such Contract, including those listed on <u>Schedule 2.3</u>, a "<u>Shared Contract</u>"), shall be assigned in part to the applicable member(s) of the applicable Group, if so assignable, or appropriately amended prior to, at or after the Effective Time, so that each Party or the members of their respective Group as of the Effective Time shall be entitled to the rights and benefits, and shall Assume the related portion of any Liabilities, inuring to their respective Businesses; <u>provided</u>, <u>however</u>, that,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in no event shall any member of any Group be required to assign (or amend) any Shared Contract in its entirety or to assign a portion of any Shared Contract (including any Policy) which is not assignable (or cannot be amended) by its terms (including any terms imposing consents or conditions on an assignment where such consents or conditions have not been obtained or fulfilled, subject to <u>Section 2.2(d)</u>), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if any Shared Contract cannot be so partially assigned by its terms or otherwise, cannot be amended or has not for any other reason been assigned or amended, or if such assignment or amendment would impair the rights and benefits the parties thereto derive from such Shared Contract, then,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at the reasonable request of the Party (or the member of such Party's Group) to which the rights and benefits of such Shared Contract inure in part, the Party for which such Shared Contract is, as applicable, a Cummins Retained Asset or Filtration Asset shall, and shall cause each of its respective Subsidiaries to, for a period ending not later than six (6) months after the Effective Date (unless the term of a Shared Contract (excluding any extensions thereof) ends at a later date, in which case for a period ending on such date), take such other reasonable and permissible actions to cause such member of the Filtration Group or the Cummins Group, as the case may be, to receive the rights and benefits of that portion of each Shared Contract that relates to the Filtration Business or the Cummins Retained Business, as the case may be (in each case, to the extent so related), as if such Shared Contract had been assigned to (or amended to allow) a member of the applicable Group pursuant to this <u>Section 2.3</u> and to bear the burden of the corresponding Liabilities (including any Liabilities that may arise by reason of such arrangement) as if such Liabilities had been Assumed by a member of the applicable Group pursuant to this <u>Section 2.3</u>, <u>provided</u>, <u>further</u>, that the Party for which such Shared Contract is a Cummins Retained Asset or a Filtration Asset, as applicable, shall be indemnified for all Indemnifiable Losses or other Liabilities arising out of any actions (or omissions to act) of such retaining Party taken at the written direction of the other Party (or relevant member of its Group) in connection with and relating to such Shared Contract, as the case may be, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Party to which the rights and benefits of such Shared Contract inures in part shall use commercially reasonable efforts to enter into a separate Contract pursuant to which it procures such rights, benefits and Liabilities as are necessary such that it no longer needs to avail itself of the arrangements provided pursuant to this <u>Section 2.3</u>.

Section 2.4 <u>Intercompany Accounts, Loans and Agreements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Intercompany Receivables and Payables</u>. Except as set forth in <u>Section 5.1(b)</u> and <u>Section 10.23(b)</u>, all Intercompany Amounts (other than (x) intercompany loans (which shall be governed by <u>Section 2.4(c)</u>), (y) Intercompany Amounts otherwise expressly provided for on <u>Schedule 2.4(a)</u>, and (z) payables created or required by this Agreement, any Ancillary Agreement or any Continuing Arrangements) shall continue to be outstanding after the Effective Time and thereafter (i) shall be an obligation of the relevant Party (or the relevant member of such Party's Group), each responsible for fulfilling its (or a member of such Party's Group's) obligations in accordance with the terms and conditions applicable to such obligation or, if such terms and conditions are not set forth in writing, such obligation shall be satisfied within thirty (30) days of a written request by the beneficiary of such obligation given to the corresponding obligor thereunder, and (ii) shall be for each relevant Party (or the relevant member of such Party's Group) an obligation to a third party and shall no longer be an intercompany account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payments and Reimbursements</u>. As between the Parties (and the members of their respective Group) all payments and reimbursements received after the Effective Time by one Party (or member of its Group) that relate to a Business, Asset or Liability of the other Party (or member of its Group), shall be held by such Party in trust for the use and benefit of the Party entitled thereto (at the expense of the Party entitled thereto) and, promptly upon receipt by such Party of any such payment or reimbursement, such Party shall pay, or shall cause the applicable member of its Group to pay, over to the Party entitled thereto the amount of such payment or reimbursement without right of set-off.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Settlement of Intercompany Loans</u>. Except as set forth on <u>Schedule 2.4(c)</u> and <u>Section 10.23(b)</u>, each of Cummins or any member of the Cummins Group, on the one hand, and Filtration or any member of the Filtration Group, on the other hand, shall settle with the other Party, as the case may be, all intercompany loans, including any promissory notes, owned or owed by the other Party on or prior to the Effective Date, except as otherwise agreed to in good faith by the Parties in writing on or after the date hereof, it being understood and agreed by the Parties that all guarantees and Credit Support Instruments shall be governed by <u>Section 2.10</u>.

Section 2.5 <u>Limitation of Liability; Intercompany Contracts</u>. No Party nor any Subsidiary of such Party shall be liable to the other Party or any Subsidiary of the other Party based upon, arising out of or resulting from any Contract, arrangement, course of dealing or understanding between or among it and the other Party existing at or prior to the Effective Time (other than as set forth on <u>Schedule 2.5</u>, pursuant to this Agreement, any Ancillary Agreement, any Continuing Arrangements, any Third Party Agreements, as set forth in <u>Section 2.4</u> or <u>Section 5.1(b)</u>, or pursuant to any other Contract entered into in connection herewith or in order to consummate the transactions contemplated hereby or thereby) and each Party hereby terminates any and all Contracts, arrangements, courses of dealing or understandings between or among it and the other Party effective as of the Effective Time (other than as set forth on <u>Schedule 2.5</u>, this Agreement, any Ancillary Agreement, any Continuing Arrangements, any Third Party Agreements, as set forth in <u>Section 2.4</u> or <u>Section 5.1(b)</u>, or pursuant to any Contract entered into in connection herewith or in order to consummate the transactions contemplated hereby or thereby); <u>provided</u>, <u>however</u>, that with respect to any Contract, arrangement, course of dealing or understanding between or among the Parties or any Subsidiaries thereof discovered after the Effective Time, the Parties agree that such Contract, arrangement, course of dealing or understanding shall nonetheless be deemed terminated as of the Effective Time with the only Liability of the Parties in respect thereof to be the obligations incurred between the Parties pursuant to such Contract, arrangement, course of dealing or understanding between the Effective Time and the time of discovery or later termination of any such Contract, arrangement, course of dealing or understanding.

Section 2.6 <u>Deferred Transfers; Treatment of Deferred Assets and Liabilities; Related Matters.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Deferred Transfers</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Parties acknowledge and agree that due to the requirements of applicable Law, the need to obtain Governmental Approvals or other Consents or for other business reasons, the Parties have agreed to defer until after the Effective Time certain Transfers and Assumptions, including as contemplated by the Internal Reorganization (together with the Transfers and Assumptions contemplated by <u>Section 2.6(a)(ii)</u>, the "<u>Deferred Transfers</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If and to the extent any Transfers or Assumptions contemplated by this <u>Article II</u> shall not have been completed or perfected at or prior to the Effective Time because it would be a violation of applicable Law or requires a Consent or Governmental Approval that has not been obtained as of or prior to the Effective Time, such Transfer or Assumption shall be automatically deemed a "Deferred Transfer," any such purported Transfer or Assumption shall be null and void until such time as all legal impediments are removed or such Consent or Governmental Approval is obtained and nothing herein shall be deemed to require or constitute the Transfer of any Assets or the Assumption of any Liabilities which by their terms or operation of Law cannot be Transferred or so Assumed; <u>provided</u>, <u>however</u>, that the Parties and their respective Subsidiaries shall cooperate and use commercially reasonable efforts to seek to obtain, in accordance with applicable Law, any necessary Consents or Governmental Approvals for the Transfer of all Assets and Assumption of all Liabilities contemplated to be Transferred and Assumed pursuant to this <u>Article II</u> to the fullest extent permitted by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Treatment of Deferred Assets and Liabilities</u>. To the extent that any Transfers or Assumptions contemplated by this <u>Article II</u> shall not have been completed at or prior to the Effective Time, including any Deferred Transfers, the Parties shall, except as set forth in <u>Schedule 2.6</u>, use commercially reasonable efforts to effect such Transfers or Assumptions as promptly following the Effective Time as shall be reasonably practicable. In the event that any such Transfer of Assets or Assumption of Liabilities has not been completed prior to or at the Effective Time, including any Deferred Transfers, then from and after the Effective Time, except as set forth in <u>Schedule 2.6</u>, (i) the Party (or relevant member in its Group) retaining such Asset shall thereafter hold (or shall cause such member in its Group to hold) such Asset in trust for the use and benefit of the Party entitled thereto (at the expense of the Party entitled thereto), and (ii) the Party intended to Assume such Liability shall, or shall cause the applicable member of its Group to, pay or reimburse the Party retaining such Liability for all amounts paid or incurred in connection with the retention of such Liability. To the extent the foregoing applies to any Contracts (other than Shared Contracts, which shall be governed solely by <u>Section 2.3</u>) to be assigned for which any necessary Consents or Governmental Approvals are not received prior to the Effective Time, the treatment of such Contracts shall, for the avoidance of doubt, be subject to <u>Section 2.8</u> and <u>Section 2.9</u>, to the extent applicable. In addition, the Party retaining such Asset or Liability (or relevant member of its Group) shall (or shall cause such member in its Group to) treat, insofar as reasonably practicable and to the extent permitted by applicable Law, such Asset or Liability in the ordinary course of business in accordance with past practice and take such other actions as may be reasonably requested by the Party to which such Asset is to be Transferred or by the Party Assuming such Liability in order to place such Party, insofar as reasonably practicable and to the extent permitted by applicable Law, in the same position as if such Asset or Liability had been Transferred or Assumed as contemplated hereby and so that all the benefits and burdens relating to such Asset or Liability, including possession, use, risk of loss, Taxes, potential for income and gain, and dominion, control and command over such Asset or Liability, are to inure from and after the Effective Time to the relevant member or members of the Cummins Group or the Filtration Group entitled to the receipt of such Asset or required to Assume such Liability. In furtherance of the foregoing, the Parties agree that, as of the Effective Time, except as set forth in <u>Schedule 2.6</u> and subject to <u>Section 2.2(c)</u> and <u>Section 2.9(b)</u>, each Party shall be deemed to have acquired complete and sole beneficial ownership over all of the Assets, together with all rights, powers and privileges incident thereto, and shall be deemed to have Assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incident thereto, which such Party is entitled to acquire or required to Assume pursuant to the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Consents and Approvals</u>. If and when the Consents, Governmental Approvals or conditions, the absence or non-satisfaction of which caused the deferral of Transfer of any Asset or deferral of the Assumption of any Liability pursuant to <u>Section 2.6(a)</u>, are obtained or satisfied, the Transfer, assignment, Assumption or novation of the applicable Asset or Liability shall be effected, when and as the Parties agree, in accordance with and subject to the terms of this Agreement (including <u>Section 2.2</u>) or the applicable Ancillary Agreement, and shall, to the extent possible without the imposition of any undue cost on any Party, be deemed to have become effective as of the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Absence of Obligations; Indemnification</u>. The Party (or relevant member of its Group) retaining any Asset or Liability due to the deferral of the Transfer of such Asset or the deferral of the Assumption of such Liability pursuant to <u>Section 2.6(a)</u> or otherwise, except as set forth in <u>Schedule 2.6</u>, shall (i) not be obligated, in connection with the foregoing, to expend any money unless the necessary funds are advanced, assumed or agreed in advance to be reimbursed by the Party (or relevant member of its Group) entitled to such Asset or the Person intended to be subject to such Liability, other than reasonable attorneys' fees and recording or similar or other incidental fees, all of which shall be promptly reimbursed by the Party (or relevant member of its Group) entitled to such Asset or the Person intended to be subject to such Liability and (ii) be indemnified for all Indemnifiable Losses or other Liabilities arising out of any actions (or omissions to act) of such retaining Party taken at the direction of the other Party (or relevant member of its Group) in connection with and relating to such retained Asset or Liability, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Receipt of Communications</u>. After the Effective Time, each Party (or any member of its Group) may receive mail, packages, electronic mail and any other written communications properly belonging to another Party (or any member of its Group). Accordingly, at all times after the Effective Time, each Party is hereby authorized to receive and, if reasonably necessary to identify the proper recipient in accordance with this <u>Section 2.6(e)</u>, open all mail, packages, electronic mail and any other written communications received by such Party that belongs to such other Party, and to the extent that they do not relate to the Business of the receiving Party, the receiving Party shall promptly deliver such mail, packages, electronic mail or any other written communications (or, in case the same also relates to the Business of the receiving Party or another Party, copies thereof) to such other Party as provided for in <u>Section 10.6</u>; it being understood that, if a Party receives a telephone call that relates to the Business of the other Party, then the receiving Party shall inform the person making such telephone call to contact the other Party. The provisions of this <u>Section 2.6(e)</u> are not intended to, and shall not, be deemed to constitute an authorization by any Party to permit the other Party to accept service of process on its behalf, and no Party is or shall be deemed to be the agent of any other Party for service of process purposes.

Section 2.7 <u>Conveyancing and Assumption Instruments</u>. In connection with, and in furtherance of, the Transfers of Assets and the Assumptions of Liabilities contemplated by this Agreement, the Parties shall execute or cause to be executed, on or after the date hereof by the appropriate entities to the extent not executed prior to the date hereof, any Conveyancing and Assumption Instruments necessary to evidence the valid Transfer to the applicable Party or member of such Party's Group of all right, title and interest in and to its accepted Assets and the valid and effective Assumption by the applicable Party of its Assumed Liabilities for Transfers and Assumptions to be effected pursuant to the Laws of the state of Delaware or one of the other states of the United States, as applicable, or, if not appropriate for a given Transfer or Assumption, and for Transfers or Assumptions to be effected pursuant to international Laws, in such form as the Parties shall reasonably agree, including the Transfer of real property by mutually acceptable conveyance deeds or other conveyance documents or instruments as may be appropriate and in form and substance as may be required by the jurisdiction in which the real property is located. The Transfer of capital stock shall be effected by means of executed stock powers and notation on the stock record books of the corporation or other legal entities involved, or by such other means as may be required in any international jurisdiction to Transfer title to stock and, only to the extent required by applicable Law, by notation on public registries.

Section 2.8 <u>Further Assurances; Ancillary Agreements.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Cooperation</u>. In addition to and without limiting the actions expressly provided for elsewhere in this Agreement and subject to the limitations expressly set forth in this Agreement, including <u>Section 2.6</u>, each of the Parties shall cooperate with each other and use (and shall cause its respective Subsidiaries and Affiliates to use) commercially reasonable efforts, at and after the Effective Time, to take, or to cause to be taken, all actions, and to do, or to cause to be done, all things reasonably necessary on its part under applicable Law or contractual obligations to consummate and make effective the transactions contemplated by this Agreement and the Ancillary Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Certain Actions</u>. Without limiting any other provisions of this <u>Section 2.8</u>, at and after the Effective Time, each Party shall cooperate with the other Party, and without any further consideration, but at the expense of the requesting Party (except as provided in <u>Section 2.2(b)(ii)</u> and <u>Section 2.6(d)</u>) from and after the Effective Time, to execute and deliver, or use commercially reasonable efforts to cause to be executed and delivered, all instruments, including instruments of Transfer or title, and to make all filings with, and to obtain all Consents or Governmental Approvals, any permit, license, Contract, indenture or other instrument (including any Consents or Governmental Approvals), and to take all such other actions as such Party may reasonably be requested to take by any other Party from time to time, consistent with the terms of this Agreement and the Ancillary Agreements, in order to effectuate the provisions and purposes of this Agreement and the Ancillary Agreements and the Transfers of the applicable Assets and the assignment and Assumption of the applicable Liabilities and the other transactions contemplated hereby and thereby. Without limiting the foregoing, each Party shall, at the reasonable request, cost and expense of any other Party (except as provided in <u>Section 2.2(b)(ii)</u> and <u>Section 2.6(d)</u>), take such other actions as may be reasonably necessary to vest in such other Party such title and such rights as possessed by the transferring Party to the Assets allocated to such other Party under this Agreement or any of the Ancillary Agreements, free and clear of any Security Interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Misallocation of Assets or Liabilities</u>. Without limiting any other provisions of this <u>Section 2.8</u>, in the event that any Party (or member of such Party's Group) receives any Assets (including the receipt of payments made pursuant to Contracts and proceeds from accounts receivable with respect to such Assets) or is liable for any Liability that is otherwise allocated to any Person that is a member of the other Group pursuant to this Agreement or the Ancillary Agreements, such Party agrees to promptly Transfer, or cause to be Transferred, such Asset or Liability to the other Party so entitled thereto (or member of such other Party's Group as designated by such other Party) at such other Party's expense. Prior to any such Transfer, such Asset or Liability, as the case may be, shall be held in accordance with the provisions of <u>Section 2.6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Ancillary Agreements</u>. At or prior to the Effective Time, each of Cummins and Filtration shall enter into, or (where applicable) shall cause a member or members of their respective Group to enter into, the Ancillary Agreements and any other Contracts deemed by Cummins and Filtration to be reasonably necessary or appropriate in connection with the transactions contemplated hereby and thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Ratification of Acts</u>. On or prior to the Effective Date, Cummins and Filtration in their respective capacities as direct or indirect equity holders of their respective Subsidiaries, shall each ratify any actions that are reasonably necessary or desirable to be taken by any Subsidiary of Cummins or Subsidiary of Filtration, as the case may be, to effectuate the transactions contemplated by this Agreement and the Ancillary Agreements.

Section 2.9 <u>Novation of Liabilities; Indemnification.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Allocation of Liabilities</u>. Each Party, at the request of any member of the other Party's Group (such other Party, the "<u>Other Party</u>"), shall use commercially reasonable efforts to obtain, or to cause to be obtained, any Consent, Governmental Approval, substitution or amendment required to novate or assign to the fullest extent permitted by applicable Law all obligations under Contracts (other than Shared Contracts, which shall be governed by <u>Section 2.3</u>) and Liabilities (other than with regard to guarantees or Credit Support Instruments, which shall be governed by <u>Section 2.10</u>), but solely to the extent that the Parties or members of each Party's Group are jointly or each severally liable with regard to any such Contracts or Liabilities and such Contracts or Liabilities have been, in whole, but not in part, allocated to the first Party, or, if permitted by applicable Law, to obtain in writing the unconditional release of the applicable Other Party so that, in any such case, the members of the applicable Group shall be solely responsible for such Contracts or Liabilities; <u>provided</u>, <u>however</u>, that no Party shall be obligated to pay any consideration therefor to any third party from whom any such Consent, Governmental Approval, substitution or amendment is requested (unless such Party is fully reimbursed by the requesting Party). In addition, with respect to any Action where any Party hereto is a defendant, when and if requested by such Party, the Other Party, at its own cost, shall use commercially reasonable efforts to remove the requesting Party as a defendant to the extent that such Action relates solely to Assets or Liabilities that the Other Party (or any member of such requesting Party's Group) has been allocated pursuant to this <u>Article II</u>, and the Other Party shall cooperate and assist in any required communication with any plaintiff or other related third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Indemnification; Remittance</u>. If the Parties are unable to obtain, or to cause to be obtained, any such required Consent, Governmental Approval, release, substitution or amendment referenced in <u>Section 2.9(a)</u>, then the Other Party or a member of such Other Party's Group shall continue to be bound by such Contract, license or other obligation that does not constitute a Liability of such Other Party and, unless prohibited by Law or the terms thereof, as agent or subcontractor for such Party, the Party or member of such Party's Group who Assumed or retained such Liability as set forth in this Agreement (the "<u>Liable Party</u>") shall, or shall cause a member of its Group to, pay, perform and discharge fully all the obligations or other Liabilities of such Other Party or member of such Other Party's Group thereunder from and after the Effective Time. For the avoidance of doubt, in furtherance of the foregoing, the Liable Party or a member of such Liable Party's Group, as agent or subcontractor of the Other Party or a member of such Other Party's Group, to the extent reasonably necessary to pay, perform and discharge fully any Liabilities, or retain the benefits (including pursuant to <u>Section 2.6</u>) associated with such Contract or license, is hereby granted the right to, among other things, (i) prepare, execute and submit invoices under such Contract or license in the name of the Other Party (or the applicable member of such Other Party's Group), (ii) send correspondence relating to matters under such Contract or license in the name of the Other Party (or the applicable member of such Other Party's Group), (iii) file Actions in the name of the Other Party (or the applicable member of such Other Party's Group) in connection with such Contract or license and (iv) otherwise exercise all rights in respect of such Contract or license in the name of the Other Party (or the applicable member of such Other Party's Group); <u>provided</u> that (y) such actions shall be taken in the name of the Other Party (or the applicable member of such Other Party's Group) only to the extent reasonably necessary or advisable in connection with the foregoing and (z) to the extent that there shall be a conflict between the provisions of this <u>Section 2.9(b)</u> and the provisions of any more specific arrangement between a member of such Liable Party's Group and a member of such Other Party's Group, such more specific arrangement shall control. The Liable Party shall indemnify each Other Party and hold each of them harmless against any Liabilities (other than Liabilities of such Other Party) arising under this <u>Section 2.9(b)</u>; <u>provided</u> that the Liable Party shall have no obligation to indemnify the Other Party with respect to any matter to the extent that such Liabilities arise from such Other Party's willful breach, knowing violation of Law, fraud, misrepresentation or gross negligence in connection therewith, in which case such Other Party shall be responsible for such Liabilities; it being understood that any exercise of rights under this Agreement by such Other Party shall not be deemed to be willful breach, knowing violation of Law, fraud, misrepresentation or gross negligence. The Other Party shall, without further consideration, promptly pay and remit, or cause to be promptly paid or remitted, to the Liable Party or, at the direction of the Liable Party, to another member of the Liable Party's Group, all money, rights and other consideration received by it or any member of its Group in respect of such performance by the Liable Party (unless any such consideration is an Asset of such Other Party pursuant to this Agreement). If and when any such Consent, Governmental Approval, release, substitution or amendment shall be obtained or such agreement, lease, license or other rights or obligations shall otherwise become assignable or able to be novated, the Other Party shall, to the fullest extent permitted by applicable Law, promptly Transfer or cause the Transfer of all rights, obligations and other Liabilities thereunder of such Other Party or any member of such Other Party's Group to the Liable Party or to another member of the Liable Party's Group without payment of any further consideration and the Liable Party, or another member of such Liable Party's Group, without the payment of any further consideration, shall Assume such rights and Liabilities to the fullest extent permitted by applicable Law. Each of the applicable Parties shall, and shall cause their respective Subsidiaries to, take all actions and do all things reasonably necessary on its part, or such Subsidiaries' part, under applicable Law or contractual obligations to consummate and make effective the transactions contemplated by this <u>Section 2.9</u>.

Section 2.10 <u>Guarantees; Credit Support Instruments.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Removal of Guarantees</u>. Except as otherwise specified in any Ancillary Agreement, at or prior to the Effective Time or as soon as practicable thereafter, (i) Cummins shall (with the reasonable cooperation of the applicable member of the Filtration Group) use its commercially reasonable efforts to have each member of the Filtration Group removed as guarantor of or obligor for any Cummins Retained Liability no later than the Disposition Date to the fullest extent permitted by applicable Law, including in respect of those guarantees set forth on <u>Schedule 2.10(a)(i)</u>, to the extent that they relate to Cummins Retained Liabilities; and (ii) Filtration shall (with the reasonable cooperation of the applicable member of the Cummins Group) use commercially reasonable efforts to have each member of the Cummins Group removed as guarantor of or obligor for any Filtration Liability no later than the Disposition Date, to the fullest extent permitted by applicable Law, including in respect of those guarantees set forth on <u>Schedule 2.10(a)(ii)</u>, to the extent that they relate to Filtration Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Replacement Guarantees</u>. At or prior to or after the Effective Time, and in any event prior to the Disposition Date, to the extent required to obtain a release from a guaranty:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) of any member of the Cummins Group, Filtration (or such other member of the Filtration Group as agreed between the applicable member of the Filtration Group and the other relevant parties to such guaranty) shall execute a guaranty agreement substantially in the form of the existing guaranty or such other form as is agreed to by the relevant parties to such guaranty agreement, except to the extent that such existing guaranty contains representations, covenants or other terms or provisions (A) with which Filtration would be reasonably unable to comply or (B) which would be reasonably expected to be breached; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) of any member of the Filtration Group, Cummins (or such other member of the Cummins Group as agreed between the applicable member of the Filtration Group and the other relevant parties to such guaranty) shall execute a guaranty agreement substantially in the form of the existing guaranty or such other form as is agreed to by the relevant parties to such guaranty agreement, except to the extent that such existing guaranty contains representations, covenants or other terms or provisions (A) with which Cummins would be reasonably unable to comply or (B) which would be reasonably expected to be breached.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Indemnification and Reimbursement</u>. If Cummins or Filtration is unable to obtain, or to cause to be obtained, any such removal as described in <u>Section 2.10(a)</u> and <u>Section 2.10(b)</u> (including as a consequence of subclause (A) or (B) of either <u>Section 2.10(b)(i)</u> or <u>Section 2.10(b)(ii)</u>, as applicable), then (i) Cummins, to the extent a member of the Cummins Group has assumed the underlying Liability with respect to such guaranty, or Filtration, to the extent a member of the Filtration Group has assumed the underlying Liability with respect to such guaranty, as the case may be, shall indemnify and hold harmless the guarantor or obligor for any Indemnifiable Loss arising from or relating to such guaranty (in accordance with the provisions of <u>Article V</u>) and shall or shall cause one of its Subsidiaries, as agent or subcontractor for such guarantor or obligor to pay, perform and discharge fully all the obligations or other Liabilities of such guarantor or obligor thereunder; (ii) Filtration shall reimburse the applicable member of the Cummins Group for all out-of-pocket expenses incurred by it arising out of or related to any such guaranty; and (iii) each of Cummins and Filtration, on behalf of themselves and the members of their respective Groups, agree not to renew or extend the term of, increase its obligations under, or Transfer to a third party, any loan, guaranty, lease, Contract or other obligation for which another Party or member of such Party's Group is or may be liable without the prior written consent of such other Party, unless all obligations of such other Party and the other members of such Party's Group with respect thereto are thereupon terminated by documentation reasonably satisfactory in form and substance to such Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Replacement of CSIs</u>. Cummins and Filtration shall cooperate and Filtration shall use commercially reasonable efforts to replace all Credit Support Instruments issued by Cummins or other members of the Cummins Group on behalf of or in favor of any member of the Filtration Group or the Filtration Business (the "<u>Cummins CSIs</u>") as promptly as practicable with Credit Support Instruments from Filtration or a member of the Filtration Group as of the Effective Time. With respect to any Cummins CSIs that remain outstanding after the Effective Time, (i) Filtration shall, and shall cause the members of the Filtration Group to, jointly and severally indemnify and hold harmless the Cummins Indemnitees for any Liabilities arising from or relating to such Credit Support Instruments, including any fees in connection with the issuance and maintenance thereof and any funds drawn by (or for the benefit of), or disbursements made to, the beneficiaries of such Cummins CSIs in accordance with the terms thereof; (ii) Filtration shall reimburse the applicable member of the Cummins Group for all out-of-pocket expenses incurred by it arising out of or related to any such Credit Support Instrument; and (iii) without the prior written consent of Cummins, Filtration shall not, and shall not permit any member of the Filtration Group to, enter into, renew or extend the term of, increase its obligations under, or Transfer to a third party, any loan, lease, Contract or other obligation in connection with which Cummins or any member of the Cummins Group has issued any Credit Support Instruments which remain outstanding. Neither Cummins nor any member of the Cummins Group shall have any obligation to renew any Credit Support Instruments issued on behalf of or in favor of any member of the Filtration Group or the Filtration Business after the expiration of any such Credit Support Instrument.

Section 2.11 <u>Disclaimer of Representations and Warranties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Disclaimer</u>. EACH OF CUMMINS (ON BEHALF OF ITSELF AND EACH MEMBER OF THE CUMMINS GROUP) AND FILTRATION (ON BEHALF OF ITSELF AND EACH MEMBER OF THE FILTRATION GROUP) UNDERSTANDS AND AGREES THAT, EXCEPT AS EXPRESSLY SET FORTH HEREIN, IN ANY ANCILLARY AGREEMENT OR IN ANY CONTINUING ARRANGEMENT, NO PARTY TO THIS AGREEMENT, ANY ANCILLARY AGREEMENT OR ANY OTHER AGREEMENT OR DOCUMENT CONTEMPLATED BY THIS AGREEMENT, ANY ANCILLARY AGREEMENT OR OTHERWISE, IS REPRESENTING OR WARRANTING IN ANY WAY, AND HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, AS TO THE ASSETS, BUSINESSES OR LIABILITIES CONTRIBUTED, TRANSFERRED OR ASSUMED AS CONTEMPLATED HEREBY OR THEREBY, AS TO ANY CONSENTS OR GOVERNMENTAL APPROVALS REQUIRED IN CONNECTION HEREWITH OR THEREWITH, AS TO THE VALUE OR FREEDOM FROM ANY SECURITY INTERESTS OF, AS TO NONINFRINGEMENT, VALIDITY OR ENFORCEABILITY OR ANY OTHER MATTER CONCERNING, ANY ASSETS OR BUSINESS OF SUCH PARTY, OR AS TO THE ABSENCE OF ANY DEFENSES OR RIGHT OF SETOFF OR FREEDOM FROM COUNTERCLAIM WITH RESPECT TO ANY ACTION OR OTHER ASSET, INCLUDING ACCOUNTS RECEIVABLE, OF ANY PARTY, OR AS TO THE LEGAL SUFFICIENCY OF ANY CONTRIBUTION, ASSIGNMENT, DOCUMENT, CERTIFICATE OR INSTRUMENT DELIVERED HEREUNDER TO CONVEY TITLE TO ANY ASSET OR THING OF VALUE UPON THE EXECUTION, DELIVERY AND FILING HEREOF OR THEREOF. EXCEPT AS MAY EXPRESSLY BE SET FORTH HEREIN OR IN ANY ANCILLARY AGREEMENT, ALL SUCH ASSETS ARE BEING TRANSFERRED ON AN "AS IS, WHERE IS" BASIS (AND, IN THE CASE OF ANY REAL PROPERTY, BY MEANS OF A QUITCLAIM OR SIMILAR FORM DEED OR CONVEYANCE) AND THE RESPECTIVE TRANSFEREES SHALL BEAR THE ECONOMIC AND LEGAL RISKS THAT (I) ANY CONVEYANCE SHALL PROVE TO BE INSUFFICIENT TO VEST IN THE TRANSFEREE GOOD TITLE, FREE AND CLEAR OF ANY SECURITY INTEREST AND (II) ANY NECESSARY CONSENTS OR GOVERNMENTAL APPROVALS ARE NOT OBTAINED OR THAT ANY REQUIREMENTS OF LAWS OR JUDGMENTS ARE NOT COMPLIED WITH.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Acknowledgment</u>. Each of Cummins (on behalf of itself and each member of the Cummins Group) and Filtration (on behalf of itself and each member of the Filtration Group) further understands and agrees that, if the disclaimer of express or implied representations and warranties contained in <u>Section 2.11(a)</u> is held unenforceable or is unavailable for any reason under the Laws of any jurisdiction outside the United States or if, under the Laws of a jurisdiction outside the United States, both Cummins or any member of the Cummins Group, on the one hand, and Filtration or any member of the Filtration Group, on the other hand, are jointly or severally liable for any Cummins Liability or any Filtration Liability, respectively, then the Parties intend that, notwithstanding any provision to the contrary under the Laws of such international jurisdictions, the provisions of this Agreement and the Ancillary Agreements (including the disclaimer of all representations and warranties, allocation of Liabilities among the Parties and their respective Subsidiaries, releases, indemnification and contribution of Liabilities) shall prevail for any and all purposes among the Parties and their respective Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Waiver of Compliance with Bulk Transfer Laws</u>. Cummins hereby waives compliance by itself and each and every member of the Cummins Group with the requirements and provisions of any "bulk-sale" or "bulk transfer" Laws of any jurisdiction that may otherwise be applicable with respect to the Transfer of any or all of the Cummins Assets to Cummins or any member of the Cummins Group. Filtration hereby waives compliance by itself and each and every member of the Filtration Group with the requirements and provisions of any "bulk-sale" or "bulk transfer" Laws of any jurisdiction that may otherwise be applicable with respect to the Transfer of any or all of the Filtration Assets to Filtration or any member of the Filtration Group.

Section 2.12 <u>Filtration Financing Arrangements</u>. Prior to the Effective Time, Filtration shall enter into the Filtration Financing Arrangements, on such terms and conditions as determined by Cummins in its discretion (including the amount that shall be borrowed pursuant to the Filtration Financing Arrangements and the terms and interest rates for such borrowings), and the Filtration Financing Arrangements shall have been consummated in accordance therewith. Cummins and Filtration shall participate in the preparation of all materials and presentations as may be reasonably necessary to secure funding pursuant to the Filtration Financing Arrangements, including rating agency presentations necessary to obtain the requisite ratings needed to secure the financing under any of the Filtration Financing Arrangements. In accordance with <u>Section 10.5</u>, the Parties agree that Cummins, and not Filtration, shall be ultimately responsible for all third party advisor out-of-pocket costs and expenses incurred by, and for reimbursement of such costs and expenses to, any member of the Cummins Group or the Filtration Group arising from consummation of the Filtration Financing Arrangements.

Section 2.13 <u>Cash Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Disposition of Cash Equivalents</u>. From the date of this Agreement until the Effective Time, Cummins and its Subsidiaries shall be entitled to use, retain or otherwise dispose of all Cash Equivalents generated by the Filtration Business and the Filtration Assets in Cummins' discretion. Except as provided in this <u>Section 2.13</u> and <u>Section 10.23</u>, all Cash Equivalents held by any member of the Filtration Group as of the Effective Time shall be a Filtration Asset and all Cash Equivalents held by any member of the Cummins Group as of the Effective Time shall be a Cummins Retained Asset. To the extent that, following the Effective Time, any Cash Equivalents are required to be transferred from any member of the Cummins Group to any member of the Filtration Group or from any member of the Filtration Group to any member of the Cummins Group to make effective the Internal Reorganization or the Contribution pursuant to this Agreement and the Ancillary Agreements (including if required by Law or regulation to effect the foregoing), but excluding for the avoidance of doubt, the transfer of Cash Equivalents contemplated by <u>Section 2.13(b)</u>, the Party receiving such Cash Equivalents shall promptly transfer an amount in cash equal to such transferred Cash Equivalents back to the transferring Party so as not to override the allocations of Assets, Liabilities and expenses related to the Internal Reorganization and the Contribution contemplated by this Agreement and the Ancillary Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Bank and Brokerage Accounts</u>. To the extent not completed prior to the Effective Time, Cummins and Filtration each agrees to take, or cause the other members of their respective Group to take, as promptly as practicable following the Effective Time, all actions necessary to amend all Contracts governing each bank and brokerage account owned by Filtration or any other member of the Filtration Group so that such accounts, if linked (whether by automatic withdrawal, automatic deposit or any other authorization to transfer funds from or to, hereinafter "<u>linked</u>") to any bank or brokerage account owned by Cummins or any other member of the Cummins Group (collectively, the "<u>Cummins Accounts</u>") are de-linked from the Cummins Accounts. It is intended that, following consummation of the actions contemplated by this <u>Section 2.13(b)</u>, Cummins and Filtration shall maintain separate bank accounts and separate cash management processes. With respect to any outstanding checks issued by Cummins or any of its Subsidiaries prior to the Effective Date, such outstanding checks shall be honored following the Effective Date by the Person owning the account on which the check is drawn. With respect to any outstanding checks issued by Cummins or any of its Subsidiaries following the Effective Date but prior to the requisite de-linking, such outstanding checks shall be honored by the Person owning the account on which the check is drawn; <u>provided</u> that, in the event the Liability associated with such check was, following the Effective Date, intended to be the Liability of a Person in the other Group, then the Party whose Group such Liability was intended to be shall, on the date that is (x) forty (40) days after the Effective Date, (y) one hundred (100) days after the Effective Date or (z) one hundred ninety (190) days after the Effective Date, whichever such date immediately follows the date such check was drawn, reimburse the Person that issued such check for the amount so drawn.

Section 2.14 <u>Contribution; Consideration</u>. In consideration for the Transfer of Assets to Filtration in connection with the Contribution, Filtration agrees, on or prior to the Effective Date, to (a) issue to Cummins [●] newly issued, fully paid and non-assessable shares of Filtration Common Stock; and (b) pay to Cummins all of the net proceeds of the Filtration Financing Arrangements received by Filtration at or prior to the consummation of the IPO (together with any interest accrued thereon following the receipt of such proceeds by Filtration) (such payment, collectively, the "<u>Consideration</u>"). Each applicable payment made by Filtration to Cummins pursuant to this <u>Section 2.14</u> shall be made by wire transfer of immediately available funds to an account designated by Cummins to Filtration in writing.

**Article III<u><br> THE DEBT-FOR-EQUITY EXCHANGE, THE IPO AND OTHER TRANSACTIONS</u>**

Section 3.1 <u>Filtration Debt-for-Equity Exchange Cooperation</u>. Filtration shall cooperate with Cummins to accomplish the Debt-for-Equity Exchange and shall, at Cummins's direction, promptly take any and all actions necessary or desirable in connection with the Debt-for-Equity Exchange. In furtherance thereof, to the extent not undertaken and completed prior to the execution of this Agreement, Filtration shall enter into the Debt-for-Equity Exchange Agreement, in form and substance reasonably satisfactory to Cummins, and shall comply with its obligations thereunder.

Section 3.2 <u>The IPO</u>. Subject to the terms of the Underwriting Agreement and the Debt-for-Equity Exchange Agreement, Cummins may, in its sole and absolute discretion, determine the terms of the IPO, including the form, structure and terms of any transaction(s) or offering(s) to effect the IPO and the timing and conditions to the consummation of the IPO. In addition, subject to the terms of the Underwriting Agreement, Cummins may, at any time and from time to time until the consummation of the IPO, modify or change the terms of the IPO, including by accelerating or delaying the timing of the consummation of all or part of, or terminating, the IPO.

Section 3.3 <u>Filtration IPO Cooperation</u>. Filtration shall cooperate with Cummins to accomplish the IPO and shall, at Cummins's direction, promptly take any and all actions necessary or desirable to effect the IPO on terms determined by Cummins in its discretion. In furtherance thereof, to the extent not undertaken and completed prior to the execution of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>IPO Registration Statement</u>. Filtration shall file the IPO Registration Statement, and any amendments or supplements thereto, as may be necessary in order to cause the same to become and remain effective as required by the Underwriting Agreement, the Commission and applicable Law, including federal, state or international securities Laws. Filtration shall also cooperate in preparing, filing with the Commission and causing to become effective a registration statement registering the Filtration Common Stock under the Exchange Act, and any registration statements or amendments thereto that are required in connection with the establishment of, or amendments to, any employee benefit and other plans necessary or appropriate in connection with the IPO or the other transactions contemplated by this Agreement and the Ancillary Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Underwriting Agreement</u>. Filtration shall enter into the Underwriting Agreement, in form and substance satisfactory to Cummins, and shall comply with its obligations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Compliance with Securities Laws</u>. Filtration shall take all such action as may be necessary or appropriate under state securities and blue sky laws of the United States (and any comparable Laws under any international jurisdictions) in connection with the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Road Show</u>. Filtration shall participate in the preparation of materials and presentations as any of Cummins, the Debt-for-Equity Exchange Parties, and the Underwriters shall deem necessary or desirable in connection with the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Pricing and Closing of IPO</u>. Filtration shall cooperate in all respects with Cummins, the Debt-for-Equity Exchange Parties and the Underwriters in connection with the pricing of the Common Stock to be issued in the IPO and the timing of the IPO and shall, at any such Person's request, promptly take any and all actions necessary or desirable to consummate the IPO as contemplated by the IPO Registration Statement and the Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>NYSE Listing</u>. Filtration shall prepare, file and make effective an application for listing of the Common Stock issued in the IPO on the New York Stock Exchange, and shall comply with the listing standards and requirements related thereto.

Section 3.4 <u>Proceeds of the IPO</u>. The IPO shall be effected to permit the Underwriters to sell all or a portion of the Common Stock that the Debt-for-Equity Exchange Parties receive in the Debt-for-Equity Exchange. Accordingly, the Debt-for-Equity Exchange Parties will receive any cash proceeds from such sale of the Common Stock in the IPO.

Section 3.5 <u>Filtration Organizational Documents</u>. Prior to the Effective Time, Cummins and Filtration shall each take all actions that may be required to provide for the adoption by Filtration of the Amended and Restated Certificate of Incorporation of Filtration substantially in the form attached as <u>Exhibit I</u> (the "<u>Charter</u>") and the Amended and Restated Bylaws of Filtration substantially in the form attached as <u>Exhibit J</u> (the "<u>Bylaws</u>"), to be effective as of the Effective Date.

Section 3.6 <u>Directors</u>. At or prior to the Effective Time, Cummins shall take all necessary action to cause the Filtration Board to include, as of the Effective Time, the individuals identified in the IPO Registration Statement as directors of Filtration upon completion of the IPO.

Section 3.7 <u>Officers</u>. At or prior to the Effective Time, Cummins shall take all necessary action to cause the individuals identified as officers of Filtration in the IPO Registration Statement to be officers of Filtration at or prior to the Effective Time.

Section 3.8 <u>Resignations and Removals</u>. Except as set forth on <u>Schedule 3.8</u> and subject to Section 7.3 and Section 7.4, as soon as practicable after the Effective Date, and in any event no later than on the Disposition Date, (i) Cummins shall cause all of its employees and any employees of its Subsidiaries (excluding any employees of any member of the Filtration Group) to resign or be removed, effective as of the Disposition Date, from all positions as officers or directors of any member of the Filtration Group in which they serve, and (ii) Filtration shall cause all of its employees and any employees of its Subsidiaries to resign, effective as of the Disposition Date, from all positions as officers or directors of any member of the Cummins Group in which they serve. Notwithstanding the foregoing, but subject to Section 7.3 and Section 7.4, no Person shall be required by any Party to resign from any position or office with another Party if such Person is disclosed in the IPO Registration Statement as a Person who is to hold such position or office following the IPO.

Section 3.9 <u>Distributions or Other Dispositions.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Determination and Timing</u>. Cummins shall, in its sole and absolute discretion, determine (i) whether to proceed with all or part of any Distribution or Other Disposition and (ii) all terms of any Distribution or Other Disposition, including the form, structure and terms of any transaction(s) or offering(s) to effect any Distribution or Other Disposition and the timing of and conditions to the consummation of any Distribution or Other Disposition. In addition, in the event that Cummins determines to proceed with any Distribution or Other Disposition, Cummins may at any time and from time to time until the completion of any Distribution or Other Disposition abandon, modify or change any or all of the terms of any Distribution or Other Disposition, including by accelerating or delaying the timing of the consummation of all or part of any Distribution or Other Disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Cooperation</u>. Filtration shall cooperate with Cummins in all reasonable respects to accomplish any Distribution or Other Disposition and shall, at Cummins's direction, promptly take any and all actions necessary or reasonably desirable to effect any Distribution or Other Disposition, including the registration under the Securities Act of the offering of any Filtration Common Stock on an appropriate registration form or forms to be designated by Cummins and the filing of any necessary documents pursuant to the Exchange Act. Cummins shall select any investment bank(s), manager(s), underwriter(s) or dealer-manager(s) in connection with any Distribution or Other Disposition, as well as any financial printer, solicitation or exchange agent and financial, legal, accounting, tax and other advisors and service providers in connection with any Distribution or Other Disposition, as applicable. Filtration and Cummins, as the case may be, shall provide to the exchange agent all share certificates (to the extent certificated) or book-entry authorizations (to the extent not certificated) and any information required in order to complete any Distribution or Other Disposition.

**Article IV<u><br> CERTAIN COVENANTS</u>**

Section 4.1 <u>Cooperation</u>. From and after the Effective Time, and subject to the terms of and limitations contained in this Agreement and the Ancillary Agreements, each Party shall, and shall cause each of its respective Affiliates and employees to, (a) provide reasonable cooperation and assistance to the other Party (and any member of its respective Group) in connection with the completion of the transactions contemplated by this Agreement and each Ancillary Agreement, (b) reasonably assist the other Party in the orderly and efficient transition in becoming a separate company to the extent set forth in the Transition Services Agreement and the schedules thereto or as otherwise set forth herein (including complying with <u>Articles V</u>, <u>VI</u> and <u>IX</u>), and (c) reasonably assist the other Party to the extent such Party is providing or has provided Services, as applicable, pursuant to the Transition Services Agreement in connection with requests for information from, audits or other examinations of, such other Party by a Governmental Entity; in each case, except as otherwise set forth in this Agreement or as may otherwise be agreed to by the Parties in writing, at no additional cost to the Party requesting such assistance other than for the actual out-of-pocket costs (which shall not include the costs of salaries and benefits of employees of such Party or any pro rata portion of overhead or other costs of employing such employees which would have been incurred by such employees' employer regardless of the employees' service with respect to the foregoing) incurred by any such Party, if applicable.

Section 4.2 <u>Restriction on Certain Competition</u>. For a period ending at the earlier of (w) sixty (60) months following the Effective Date, (x) any expiration or termination of a Supply Agreement, (y) any expiration or termination of this Agreement or (z) the occurrence of a Change of Control of Filtration or Cummins (such period, the "<u>Non-Compete Period</u>"), without the prior written consent of Filtration, Cummins shall not, and shall not allow any of its controlled Affiliates to, directly or indirectly, engage anywhere in the world, or own, manage, operate, or control any Person who engages anywhere in the world, in any design, development, manufacturing, marketing or sales of filter housings, filters, filter cartridges, filter modules or filter interfaces, including filter sealing surfaces, filter housing threads or filter attachment design, that compete with the Filtration Non-Compete Products (a "<u>Competing Business</u>"); <u>provided</u>, <u>however</u>, that nothing in this <u>Section 4.2</u> will restrict, directly or indirectly, Cummins or any of its controlled Affiliates from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) exercising its or their respective rights or performing or complying with its or their respective obligations under this Agreement or any of the Ancillary Agreements, including the Supply Agreements and any rights thereunder relating to sourcing or otherwise obtaining products or supply from any Person that is not a member of the Filtration Group, or otherwise engaging in any business or transactions with any member of the Filtration Group or any Affiliate of a Filtration Group member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) acquiring or owning an interest in, or managing, operating or controlling through such acquisition or ownership, any Person (or its successor) or business that is engaged in a Competing Business (such Person or business, an "<u>After-Acquired Business</u>") if such Competing Business generated less than ten percent (10%) of the After-Acquired Business consolidated annual revenues in the last completed fiscal year of the After-Acquired Business before such acquisition by Cummins or any of its controlled Affiliates, except that if such Competing Business generated more than $50 million of the After-Acquired Business consolidated annual revenues in the last completed fiscal year of the After-Acquired Business before such acquisition (the portion of such Competing Business, an "<u>After-Acquired Restricted Business</u>"), then (i) following such acquisition, Cummins and Filtration shall negotiate in good faith for a commercially reasonable period not to exceed six (6) months following such acquisition to determine the extent to which Cummins may retain the After-Acquired Restricted Business, and (ii) to the extent that Filtration does not consent in writing to Cummins's retention of the After-Acquired Restricted Business following such negotiation, which consent shall not have been unreasonably withheld, conditioned or delayed, then within one (1) year after the end of such negotiation, Cummins shall discontinue, or enter into a definitive agreement to cause the divestiture of, the relevant portion of the After-Acquired Restricted Business such that the acquisition or ownership of the After-Acquired Business otherwise complies with this <u>Section 4.2</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) sourcing, using or re-selling any products competitive with any Filtration Non-Compete Products from any third Persons to the extent permitted or not restricted by either Supply Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) engaging in any Cummins Retained Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) doing business with third Persons engaged in a Competing Business, including by discussing, proposing, negotiating or entering into supply agreements, distribution agreements and similar arrangements or seeking, soliciting or obtaining proposals, prices or quotes for such arrangements, to the extent such business does not constitute a Competing Business; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) entering into or participating in a joint venture, partnership or other strategic business relationship with any Person engaged in a Competing Business, to the extent such joint venture, partnership or other strategic business relationship does not engage in a Competing Business.

Section 4.3 <u>No Solicitation or Hiring of Employees</u>. From and after the Effective Date until expiration of the twelve (12)-month period immediately following the Disposition Date (the "<u>Restricted Period</u>"), none of Cummins, Filtration or any member of their respective Groups shall, without the prior written consent of the Chief Human Resource Officer of the other applicable Party, either directly or indirectly, on their own behalf or in the service or on behalf of others, agree to an employment, contractual or other relationship or otherwise hire, retain or employ any employee of any other Party's respective Group. For and during the Restricted Period, none of Cummins, Filtration or any member of their respective Groups shall, without the prior written consent of the Chief Human Resource Officer of the other applicable Party, either directly or indirectly, on their own behalf or in the service or on behalf of others, solicit, aid, induce or encourage any employee of any other Party's respective Group to leave his or her employment. Notwithstanding the foregoing, nothing in this Section 4.3 shall restrict or preclude Cummins, Filtration or any member of their respective Groups from soliciting or hiring (a) during the Restricted Period, any employee who responds to a general solicitation or advertisement or contact by a recruiter, whether in-house or external, that is not specifically targeted or focused on the employees employed by any other Party's respective Group (and nothing shall prohibit such generalized searches for employees through various means, including the use of advertisements in the media (including trade media) or the engagement of search firms to engage in such searches); provided that the applicable Party has not encouraged or advised such firm to approach any such employee; (b) any employee whose employment has been terminated by the other Party's respective Group; or (c) any employee whose employment has been terminated by such employee after sixty (60) days from the date of termination of such employee's employment.

Section 4.4 <u>Corporate Opportunities</u>. From and after the Effective Time and for so long as the Cummins Group (a) Beneficially Owns shares of Filtration Common Stock representing, in the aggregate, at least ten percent (10%) of the total voting power of the then outstanding Filtration Voting Stock or (b) otherwise has one or more directors, officers or employees serving as a director, officer or employee of Filtration, the Filtration Board shall, in accordance with Section 122(17) of the General Corporation Law of the State of Delaware, renounce any interest or expectancy of Filtration in, or in being offered an opportunity to participate in, any corporate opportunities of any member of the Filtration Group that are presented to any member of the Cummins Group or any of its directors, officers or employees. For the purposes of this <u>Section 4.4</u>, "corporate opportunities" of a Group shall include, but not be limited to, business opportunities which the Filtration Group is financially able to undertake, which are, from their nature, in the line of the Filtration Group's business, are of practical advantage to it and are ones in which the Filtration Group would have an interest or a reasonable expectancy, and in which, by embracing the opportunities or allowing such opportunities to be embraced by the Cummins Group or its directors, officers or employees, the self-interest of any member of the Cummins Group or any of such member's directors, officers or employees will or could be brought into conflict with that of the Filtration Group.

**Article V<u><br> INDEMNIFICATION</u>**

Section 5.1 <u>Release of Pre-IPO Claims.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Released Liabilities</u>. Except (i) as provided in <u>Section 5.1(b)</u>, (ii) as may be otherwise expressly provided in this Agreement or in any Ancillary Agreement and (iii) for any matter for which any Party is entitled to indemnification pursuant to this <u>Article V</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Cummins, for itself and each member of the Cummins Group, its Affiliates as of the Effective Time and, to the extent permitted by Law, all Persons who at any time prior to the Effective Time were directors, officers, agents or employees of any member of the Cummins Group (in their respective capacities as such), in each case, together with their respective heirs, executors, administrators, successors and assigns, does hereby remise, release and forever discharge Filtration and the other members of the Filtration Group, its Affiliates and all Persons who at any time prior to the Effective Time were stockholders, directors, officers, agents or employees of any member of the Filtration Group (in their respective capacities as such), in each case, together with their respective heirs, executors, administrators, successors and assigns, from any and all Cummins Retained Liabilities, whether at Law or in equity (including any right of contribution), whether arising under any Contract, by operation of Law or otherwise, in each case, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed at or before the Effective Time, including in connection with the Internal Reorganization and the IPO and any of the other transactions contemplated hereunder and under the Ancillary Agreements (such liabilities, the "<u>Cummins Released Liabilities</u>") and in any event shall not, and shall cause its respective Subsidiaries not to, bring any Action against any member of the Filtration Group in respect of any Cummins Released Liabilities; <u>provided</u>, <u>however</u>, that nothing in this <u>Section 5.1(a)(i)</u> shall relieve any Person released in this <u>Section 5.1(a)(i)</u> who, after the Effective Time, is a director, officer or employee of any member of the Filtration Group and is no longer a director, officer or employee of any member of the Cummins Group from Liabilities arising out of, relating to or resulting from his or her service as a director, officer or employee of any member of the Filtration Group after the Effective Time. Notwithstanding the foregoing, nothing in this Agreement shall be deemed to limit Cummins, any member of the Cummins Group, or their respective Affiliates from commencing any Actions against any Filtration officer, director, agent or employee, or their respective heirs, executors, administrators, successors and assigns with regard to matters arising from, or relating to, (x) theft of Cummins Know-How or (y) intentional criminal acts by any such officers, directors, agents or employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Filtration, for itself and each member of the Filtration Group, its Affiliates as of the Effective Time and, to the extent permitted by Law, all Persons who at any time prior to the Effective Time were directors, officers, agents or employees of any member of the Filtration Group (in their respective capacities as such), in each case, together with their respective heirs, executors, administrators, successors and assigns, does hereby remise, release and forever discharge Cummins and the other members of the Cummins Group, its Affiliates and all Persons who at any time prior to the Effective Time were shareholders, directors, officers, agents or employees of any member of the Cummins Group (in their respective capacities as such), in each case, together with their respective heirs, executors, administrators, successors and assigns, from any and all Filtration Liabilities, whether at Law or in equity (including any right of contribution), whether arising under any Contract, by operation of Law or otherwise, in each case, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed at or before the Effective Time, including in connection with the Internal Reorganization and the IPO and any of the other transactions contemplated hereunder and under the Ancillary Agreements (such liabilities, the "<u>Filtration Released Liabilities</u>") and in any event shall not, and shall cause its respective Subsidiaries not to, bring any Action against any member of the Cummins Group in respect of any Filtration Released Liabilities; <u>provided</u>, <u>however</u> that, for purposes of this <u>Section 5.1(a)(ii)</u>, the members of the Filtration Group shall also release and discharge any officers or other employees of any member of the Cummins Group, to the extent any such officers or employees served as a director or officer of any members of the Filtration Group prior to the Effective Time, from any and all Liability, obligation or responsibility for any and all past actions or failures to take action, in each case, in their capacity as a director or officer of any such member of the Filtration Group, prior to the Effective Time, including actions or failures to take action that may be deemed to have been negligent or grossly negligent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Unreleased Liabilities</u>. Nothing contained in this Agreement, including <u>Section 5.1(a)</u>, <u>Section 2.4(a)</u> or <u>Section 2.5</u>, shall impair or otherwise affect any right of any Party and, as applicable, a member of such Party's Group, as well as their respective heirs, executors, administrators, successors and assigns, to enforce this Agreement, any Ancillary Agreement or any agreements, arrangements, commitments or understandings contemplated in this Agreement or in any Ancillary Agreement to continue in effect after the Effective Time. In addition, nothing contained in <u>Section 5.1(a)</u> shall release any Person from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any Liability Assumed, Transferred or allocated to a Party or a member of such Party's Group pursuant to or as contemplated by, or any other Liability of any member of such Group under, this Agreement or any Ancillary Agreement, including (A) with respect to Cummins, any Cummins Retained Liability, and (B) with respect to Filtration, any Filtration Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any Liability provided for in or resulting from any other Contract or arrangement that is entered into after the Effective Time between any Party (or a member of such Party's Group), on the one hand, and any other Party (or a member of such Party's Group), on the other hand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any Liability with respect to any Continuing Arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any Liability that the Party may have with respect to indemnification pursuant to this Agreement or otherwise for Actions brought against the Party by third Persons, which Liability shall be governed by the provisions of this Agreement and, in particular, this <u>Article V</u> and, if applicable, the appropriate provisions of the Ancillary Agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any Liability the release of which would result in a release of any Person other than the Persons released in <u>Section 5.1(a)</u>; <u>provided</u> that the Parties agree not to bring any Action or permit any other member of their respective Group to bring any Action against a Person released in <u>Section 5.1(a)</u> with respect to such Liability.

In addition, nothing contained in <u>Section 5.1(a)</u> shall release: (i) Cummins from indemnifying any director, officer or employee of the Filtration Group who was a director, officer or employee of Cummins or any of its Affiliates prior to the Effective Date, as the case may be, to the extent such director, officer or employee is or becomes a named defendant in any Action with respect to which he or she was entitled to such indemnification pursuant to then-existing obligations; it being understood that if the underlying obligation giving rise to such Action is a Filtration Liability, then Filtration shall indemnify Cummins for such Liability (including Cummins's costs to indemnify the director, officer or employee) in accordance with the provisions set forth in this <u>Article V</u>; and (ii) Filtration from indemnifying any director, officer or employee of the Cummins Group who was a director, officer or employee of Filtration or any of its Affiliates prior to the Effective Date, as the case may be, to the extent such director, officer or employee is or becomes a named defendant in any Action with respect to which he or she was entitled to such indemnification pursuant to then-existing obligations; it being understood that if the underlying obligation giving rise to such Action is a Cummins Retained Liability, then Cummins shall indemnify Filtration for such Liability (including Filtration's costs to indemnify the director, officer or employee) in accordance with the provisions set forth in this <u>Article V</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Waiver of Actions</u>. Each Party shall not, and shall not permit any member of its Group to, make any claim for offset, or commence any Action, including any claim of contribution or any indemnification, against any other Party or any member of any other Party's Group, or any other Person released pursuant to <u>Section 5.1(a)</u>, with respect to any Liabilities released pursuant to <u>Section 5.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Legal Fees</u>. If any Person associated with a Party (including any director, officer or employee of a Party) initiates any Action with respect to claims released pursuant to <u>Section 5.1(a)</u>, then the Party with which such Person is associated shall be responsible for the fees and expenses of counsel of the other Party (or the members of such Party's Group, as applicable) and such other Party shall be indemnified for all Liabilities incurred in connection with such Action in accordance with the provisions set forth in this <u>Article V</u>.

Section 5.2 <u>Indemnification by Cummins</u>. In addition to any other provisions of this Agreement requiring indemnification, and except as otherwise expressly set forth in any provision of this Agreement or of any Ancillary Agreement, following the Effective Time, Cummins shall indemnify, defend and hold harmless the Filtration Indemnitees from and against any and all Indemnifiable Losses of the Filtration Indemnitees to the extent relating to, arising out of, by reason of or otherwise in connection with (a) the Cummins Retained Liabilities, including the failure of any member of the Cummins Group or any other Person to pay, perform or otherwise discharge any Cummins Retained Liability in accordance with its respective terms, whether arising prior to, at or after the Effective Time; (b) any Cummins Retained Asset or Cummins Retained Business, whether arising prior to, at or after the Effective Time; (c) any breach by Cummins of any provision of this Agreement or any Ancillary Agreement unless such Ancillary Agreement expressly provides for separate indemnification therein, in which case any such indemnification claims shall be made thereunder to the extent specified therein; (d) any untrue statement or alleged untrue statement of a material fact contained in any Filtration Disclosure or any other document filed with the Commission by any member of the Filtration Group pursuant to the Securities Act or the Exchange Act other than the IPO Disclosure Documents, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case under this clause (d), to the extent, but only to the extent, that those Indemnifiable Losses are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information that is either furnished to any of the Filtration Indemnitees by any member of the Cummins Group for inclusion in, or preparation of, a Filtration Disclosure or other document filed with the Commission by any member of the Filtration Group or incorporated by reference by any Filtration Indemnitee from any Cummins Public Filings, and then only if that statement or omission was made or occurred after the Effective Date or (e) any Indemnifiable Taxes.

Section 5.3 <u>Indemnification by Filtration</u>. In addition to any other provisions of this Agreement requiring indemnification, and except as otherwise expressly set forth in any provision of this Agreement or of any Ancillary Agreement, following the Effective Time, Filtration shall, and shall cause the other members of the Filtration Group to, indemnify, defend and hold harmless the Cummins Indemnitees from and against any and all Indemnifiable Losses of the Cummins Indemnitees to the extent relating to, arising out of, by reason of or otherwise in connection with (a) the Filtration Liabilities, including the failure of any member of the Filtration Group or any other Person to pay, perform or otherwise discharge any Filtration Liability in accordance with its respective terms, whether prior to, at or after the Effective Time; (b) any Filtration Asset or Filtration Business, whether arising prior to, at or after the Effective Time; (c) any breach by Filtration of any provision of this Agreement or any Ancillary Agreement unless such Ancillary Agreement expressly provides for separate indemnification therein, in which case any such indemnification claims shall be made thereunder to the extent specified therein; (d) any untrue statement or alleged untrue statement of a material fact contained in any Cummins Public Filing or any other document filed with the Commission by any member of the Cummins Group pursuant to the Securities Act or the Exchange Act, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case under this clause (d), to the extent, but only to the extent, that those Indemnifiable Losses are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information that is either furnished to any of the Cummins Indemnitees by any member of the Filtration Group for inclusion in, or preparation of, a Cummins Public Filing or other document filed with the Commission by any member of the Cummins Group or incorporated by reference by any Cummins Indemnitee from any Filtration Disclosure, and then only if that statement or omission was made or occurred after the Effective Date; or (e) any Indemnifiable Taxes.

Section 5.4 <u>Procedures for Indemnification.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Direct Claims</u>. Other than with respect to Third Party Claims, which shall be governed by <u>Section 5.4(b)</u>, each Cummins Indemnitee and Filtration Indemnitee (each, an "<u>Indemnitee</u>") shall notify in writing, with respect to any matter that such Indemnitee has determined has given or could give rise to a right of indemnification under this Agreement or any Ancillary Agreement, the Party which is or may be required pursuant to this <u>Article V</u> or pursuant to any Ancillary Agreement to make such indemnification (the "<u>Indemnifying Party</u>"), promptly and in any event within forty-five (45) days of such determination, stating in such written notice the applicable indemnification claim in reasonable detail; <u>provided</u>, <u>however</u>, that the failure to provide such written notice shall not release the Indemnifying Party from any of its obligations except and solely to the extent the Indemnifying Party shall have been actually materially prejudiced as a result of such failure. If such Indemnifying Party rejects such claim in whole or in part, the disputed matter shall be resolved in accordance with <u>Article VIII</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Third Party Claims</u>. If a claim or demand is made against an Indemnitee by any Person who is not a Party or a member of a Party's Group (a "<u>Third Party Claim</u>") as to which such Indemnitee is or may be entitled to indemnification pursuant to this Agreement or any Ancillary Agreement, such Indemnitee shall notify the Indemnifying Party in writing (which notice obligation may be satisfied by providing copies of all notices and documents received by the Indemnitee relating to the Third Party Claim), and in reasonable detail, of the Third Party Claim promptly (and in any event within the earlier of (x) forty-five (45) days or (y) two (2) Business Days prior to the final date of the applicable response period under such Third Party Claim) after receipt by such Indemnitee of written notice of the Third Party Claim; <u>provided</u>, <u>however</u>, that the failure to provide notice of any such Third Party Claim pursuant to this or the preceding sentence shall not release the Indemnifying Party from any of its obligations except and solely to the extent the Indemnifying Party shall have been actually materially prejudiced as a result of such failure. Thereafter, the Indemnitee shall deliver to the Indemnifying Party, promptly (and in any event within ten (10) Business Days) after the Indemnitee's receipt thereof, copies of all notices and documents (including court papers) received by the Indemnitee relating to the Third Party Claim. For all purposes of this <u>Section 5.4(b)</u>, each Party shall be deemed to have notice of the matters set forth on <u>Schedule 1.1(97)(h)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Defense of Third Party Claims</u>. Other than in the case of (i) Taxes addressed in the Tax Matters Agreement, which shall be addressed as set forth therein, or (ii) indemnification by a beneficiary Party of a guarantor Party pursuant to <u>Section 2.10(c)</u> (the defense of which shall be controlled by the beneficiary Party), the Indemnifying Party shall be entitled, if it so chooses, to assume the defense of a Third Party Claim, and if it does not assume the defense of such Third Party Claim, to participate in the defense of any Third Party Claim in accordance with the terms of <u>Section 5.5</u> at such Indemnifying Party's own cost and expense and by such Indemnifying Party's own counsel, that is reasonably acceptable to the Indemnitee, within thirty (30) days of the receipt of an indemnification notice from such Indemnitee; <u>provided</u>, <u>however</u>, that the Indemnifying Party shall not be entitled to assume the defense of any Third Party Claim to the extent such Third Party Claim (x) is an Action by a Governmental Entity, (y) involves an allegation of a criminal violation or (z) seeks injunctive relief against the Indemnitee. In connection with the Indemnifying Party's defense of a Third Party Claim, such Indemnitee shall have the right to employ separate counsel and to participate in (but not control) the defense, compromise, or settlement thereof, at its own expense and, in any event, shall cooperate with the Indemnifying Party in such defense and make available to the Indemnifying Party, at the Indemnifying Party's expense, all witnesses, pertinent Information, materials and information in such Indemnitee's possession or under such Indemnitee's control relating thereto as are reasonably required by the Indemnifying Party; <u>provided</u>, <u>however</u>, that in the event of a conflict of interest between the Indemnifying Party and the applicable Indemnitee(s), or in the event that any Third Party Claim seeks equitable relief which would restrict or limit the future conduct of the Indemnitee's business or operations, such Indemnitee(s) shall be entitled to retain, at the Indemnifying Party's expense, separate counsel as required by the applicable rules of professional conduct with respect to such matter; <u>provided</u>, <u>further</u>, that, if the Indemnifying Party has assumed the defense of the Third Party Claim but has specified, and continues to assert, any reservations or exceptions to such defense or to its liability therefor, then, in any such case, the reasonable fees and expenses of one separate counsel for all Indemnitees shall be borne by the Indemnifying Party. The Indemnifying Party shall have the right to compromise or settle a Third Party Claim the defense of which it shall have assumed pursuant to this <u>Section 5.4(c)</u> and any such settlement or compromise made or caused to be made of a Third Party Claim in accordance with this <u>Article V</u> shall be binding on the Indemnitee, in the same manner as if a final judgment or decree had been entered by a court of competent jurisdiction in the amount of such settlement or compromise. Notwithstanding the foregoing sentence, the Indemnifying Party shall not settle any such Third Party Claim without the written consent of the Indemnitee unless such settlement (A) completely and unconditionally releases the Indemnitee in connection with such matter, (B) provides relief consisting solely of money damages borne by the Indemnifying Party and (C) does not involve any admission by the Indemnitee of any wrongdoing or violation of Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Failure to Defend</u>. If an Indemnifying Party fails for any reason to assume responsibility for defending a Third Party Claim within the period specified in <u>Section 5.4(c)</u>, such Indemnitee may defend such Third Party Claim at the cost and expense of the Indemnifying Party. If an Indemnifying Party has failed to assume the defense of the Third Party Claim within the time period specified in <u>Section 5.4(c)</u>, it shall not be a defense to any obligation to pay any amount in respect of such Third Party Claim that the Indemnifying Party was not consulted in the defense thereof, that such Indemnifying Party's views or opinions as to the conduct of such defense were not accepted or adopted, that such Indemnifying Party does not approve of the quality or manner of the defense thereof or that such Third Party Claim was incurred by reason of a settlement rather than by a judgment or other determination of liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Exclusive Remedy</u>. Except as otherwise set forth in <u>Section 6.5</u> and <u>Section 8.4</u>, or to the extent set forth in any Ancillary Agreement, absent fraud or willful misconduct by an Indemnifying Party, the indemnification provisions of this <u>Article V</u> shall be the sole and exclusive remedy of an Indemnitee for any monetary or compensatory damages or losses resulting from any breach of this Agreement or any Ancillary Agreement and each Indemnitee expressly waives and relinquishes any and all rights, claims or remedies such Person may have with respect to the foregoing other than under this <u>Article V</u> against any Indemnifying Party. For the avoidance of doubt, all disputes in respect of this <u>Article V</u> shall be resolved in accordance with <u>Article VIII</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Ancillary Agreements</u>. Notwithstanding the foregoing, to the extent any Ancillary Agreement provides procedures for indemnification that differ from the provisions set forth in this <u>Section 5.4</u>, the terms of the Ancillary Agreement will govern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Pending Actions</u>. The provisions of this <u>Article V</u> shall apply to Third Party Claims that are already pending or asserted as well as Third Party Claims brought or asserted after the date of this Agreement. There shall be no requirement under this <u>Section 5.4</u> to give a notice with respect to any Third Party Claim that is pending or asserted as of the Effective Time. The Parties acknowledge that Liabilities for Actions (regardless of the parties to the Actions) may be partly Cummins Liabilities and partly Filtration Liabilities. If the Parties cannot agree on the allocation of any such Liabilities for Actions, they shall resolve the matter pursuant to the procedures set forth in <u>Article VIII</u>. Neither Party shall, nor shall either Party permit its Subsidiaries to, file third-party claims or cross-claims against the other Party or its Subsidiaries in an Action in which a Third Party Claim is being resolved.

Section 5.5 <u>Cooperation in Defense and Settlement.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Joint Parties to Actions</u>. With respect to any Third Party Claim that implicates both Parties in any material respect due to the allocation of Liabilities, responsibilities for management of defense and related indemnities pursuant to this Agreement or any of the Ancillary Agreements, the Parties agree to use commercially reasonable efforts to cooperate fully and maintain a joint defense (in a manner that, to the extent reasonably practicable, will preserve for all Parties any Privilege with respect thereto). The Party that is not responsible for managing the defense of any such Third Party Claim shall, upon reasonable request, be consulted with respect to significant matters relating thereto and may, if necessary or helpful, retain counsel to assist in the defense of such claims. Notwithstanding the foregoing, nothing in this <u>Section 5.5(a)</u> shall derogate from any Party's rights to control the defense of any Action in accordance with <u>Section 5.4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Certain Governmental Actions</u>. Notwithstanding anything to the contrary in this Agreement, with respect to any Action (i) by a Governmental Entity against Filtration relating to matters involving anti-bribery, anti-corruption, anti-money laundering, export control and similar laws, where the facts and circumstances giving rise to the Action occurred prior to the Effective Time, or (ii) where the resolution of such Action by order, judgment, settlement or otherwise, could include any condition, limitation or other stipulation that could, in the reasonable judgment of Cummins, adversely impact the conduct of the Cummins Retained Businesses, Cummins shall have, at Cummins's expense and to the extent permitted by applicable Law, the reasonable opportunity to consult, advise and comment in all preparation, planning and strategy regarding any such Action, including with regard to any drafts of notices and other conferences and communications to be provided or submitted by Filtration to any third party involved in such Action (including any Governmental Entity), to the extent that Cummins's participation does not affect any privilege in a material and adverse manner; <u>provided</u> that, to the extent that any such action requires the submission by Filtration of any content relating to any current or former officer or director of Cummins, such content, to the extent permitted by applicable Law, will only be submitted in a form approved by Cummins in its reasonable discretion. With regard to the matters specified in the preceding clauses (i) and (ii), Cummins shall have a right to consent to any compromise or settlement related thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Governmental Filings</u>. Notwithstanding anything to the contrary in this Agreement, with respect to any notices or reports to be submitted to, or reporting, disclosure, filing or other requirements to be made with, any Governmental Entity by Filtration or its Subsidiaries ("<u>Governmental Filing</u>") where the Governmental Filing requires disclosure of facts, information or data that relate, in whole or in part, to periods prior to the Effective Time, Cummins shall have, to the extent permitted by applicable Law, the reasonable opportunity to consult, advise and comment on the preparation and content of any such Governmental Filing in advance of its submission to a Governmental Entity, and Filtration shall in good faith consider and take into account any comments so provided by Cummins with respect to such Governmental Filing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Nominal Defendants</u>. Each of Cummins and Filtration agrees that, at all times from and after the Effective Time, if an Action is commenced by a third party naming two (2) or more Parties (or any member of such Parties' respective Groups) as defendants and with respect to which one or more named Parties (or any member of such Party's respective Group) is a nominal defendant or such Action is otherwise not a Liability allocated to such named Party under this Agreement or any Ancillary Agreement, then, to the extent permitted by applicable Law, the other Party or Parties shall use commercially reasonable efforts at its own expense to cause such nominal defendant to be removed from such Action, as soon as reasonably practicable.

Section 5.6 <u>Indemnification Payments</u>. Indemnification required by this <u>Article V</u> shall be made by periodic payments of the amount of Indemnifiable Losses in a timely fashion during the course of the investigation or defense, as and when bills are received or an Indemnifiable Loss incurred.

Section 5.7 <u>Indemnification Obligations Net of Insurance Proceeds and Other Amounts.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Third Party Proceeds</u>. Any recovery by any Indemnitee for any Indemnifiable Loss subject to indemnification pursuant to this <u>Article V</u> shall be calculated (i) net of Insurance Proceeds actually received by such Indemnitee with respect to any Indemnifiable Loss and (ii) net of any proceeds actually received by the Indemnitee from any unaffiliated third party with respect to any such Liability corresponding to the Indemnifiable Loss ("<u>Third Party Proceeds</u>"). Accordingly, the amount which any Indemnifying Party is required to pay pursuant to this <u>Article V</u> to any Indemnitee pursuant to this <u>Article V</u> shall be reduced by any Insurance Proceeds or Third Party Proceeds theretofore actually recovered by or on behalf of the Indemnitee corresponding to the related Indemnifiable Loss. If an Indemnitee receives a payment required by this Agreement from an Indemnifying Party corresponding to any Indemnifiable Loss (an "<u>Indemnity Payment</u>") and subsequently receives Insurance Proceeds or Third Party Proceeds, then the Indemnitee shall pay to the Indemnifying Party an amount equal to the excess of (i) the Indemnity Payment received over (ii) the amount of the Indemnity Payment that would have been due if the Insurance Proceeds or Third Party Proceeds (with such Insurance Proceeds or Third Party Proceeds reduced by the present value, based on the applicable Party's then cost of short-term borrowing, of any related future premium increases known at such time) had been received before the Indemnity Payment was made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Tax Effects</u>. Any Indemnity Payment shall be increased as necessary so that, after making all payments corresponding to Taxes imposed on or attributable to such Indemnity Payment, the Indemnitee receives an amount equal to the sum it would have received had no such Taxes been imposed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Efforts to Recover</u>. The Parties agree that an insurer or other third party that would otherwise be obligated to pay any amount shall not be relieved of the responsibility with respect thereto or have any subrogation rights with respect thereto by virtue of any provision contained in this Agreement or any Ancillary Agreement, and that no insurer or any other third party shall be entitled to a "windfall" (*e.g.*, a benefit they would not otherwise be entitled to receive, or the reduction or elimination of an insurance coverage obligation that they would otherwise have, in the absence of the indemnification or release provisions) by virtue of any provision contained in this Agreement or any Ancillary Agreement. Each Party shall, and shall cause its Subsidiaries to, use commercially reasonable efforts to collect or recover, or allow the Indemnifying Party to collect or recover, or cooperate with each other in collecting or recovering, any Insurance Proceeds that may be collectible or recoverable respecting the Liabilities for which indemnification may be available under this <u>Article V</u>. Notwithstanding the foregoing, an Indemnifying Party may not delay making any indemnification payment required under the terms of this Agreement, or otherwise satisfying any indemnification obligation, pending the outcome of any Actions to collect or recover Insurance Proceeds, and an Indemnitee need not attempt to collect any Insurance Proceeds prior to making a claim for indemnification or receiving any Indemnity Payment otherwise owed to it under this Agreement or any Ancillary Agreement.

Section 5.8 <u>Contribution</u>. If the indemnification provided for in this <u>Article V</u> is unavailable for any reason to an Indemnitee (other than failure to provide notice with respect to any Third Party Claims in accordance with <u>Section 5.4(b)</u>) in respect of any Indemnifiable Loss, then the Indemnifying Party shall, in accordance with this <u>Section 5.8</u>, contribute to the Indemnifiable Losses incurred, paid or payable by such Indemnitee as a result of such Indemnifiable Loss in such proportion as is appropriate to reflect the relative fault of Filtration and each other member of the Filtration Group, on the one hand, and Cummins and each other member of the Cummins Group, on the other hand, in connection with the circumstances which resulted in such Indemnifiable Loss. With respect to any Indemnifiable Losses arising out of or related to information contained in the IPO Disclosure Documents or other securities law filing, the relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact relates to information supplied by the Filtration Business or a member of the Filtration Group, on the one hand, or a Cummins Retained Business or a member of the Cummins Group, on the other hand.

Section 5.9 <u>Additional Matters; Survival of Indemnities.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Effect of Investigation</u>. The indemnity agreements contained in this <u>Article V</u> shall remain operative and in full force and effect, regardless of (i) any investigation made by or on behalf of any Indemnitee; and (ii) the knowledge by the Indemnitee of Indemnifiable Losses for which it might be entitled to indemnification hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Survival</u>. The rights and obligations of any member of the Cummins Group or any member of the Filtration Group, in each case, under this <u>Article V</u> shall survive (i) the IPO and any Distribution or Other Disposition, (ii) the sale or other Transfer by any Party or its Affiliates of any Assets or businesses or the assignment by it of any Liabilities and (iii) any merger, consolidation, business combination, restructuring, recapitalization, reorganization or similar transaction involving either Party or any of its Subsidiaries.

Section 5.10 <u>Environmental Matters.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Exchange of Information</u>. Without limiting any other provision of this Agreement, each of Cummins and Filtration agrees to provide, or cause to be provided, at any time before, at or after the Effective Time, as soon as reasonably practicable after written request therefor, reasonable access to any non-privileged information in the possession or under the control of such Party's respective Group and reasonable access to its employees to the extent that (i) such information relates to, or such employees have relevant knowledge regarding, specific alleged Environmental Liabilities, including the requesting party's alleged or potential link to environmental contamination at an Off-Site Location or real property that was allegedly owned or operated by the Cummins Group and any operating group, business unit, division, Subsidiary, line of business or investment of Cummins or any of its Subsidiaries (including any member of the Filtration Group) prior to the Effective Time; (ii) such information relates to, or such employees have relevant knowledge regarding, the impact that any alleged Environmental Liability could have on the operations, activities or Liability exposure of the requesting Party; or (iii) such information is necessary for the requesting party to complete required environmental reports or filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Substitution</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Filtration shall use its reasonable best efforts to obtain any consents, transfers, assignments, assumptions, waivers, or other legal instruments necessary to cause Filtration or the appropriate Subsidiary of Filtration to be fully substituted for Cummins or other member of the Cummins Group with respect to: (A) any order, decree, judgment, agreement or Action with respect to Filtration Environmental Liabilities that are in effect as of the Effective Time; or (B) Environmental Permits, financial assurance obligations or instruments, or other environmental approvals or filings associated with the Filtration Assets. Filtration shall inform the applicable Governmental Entity about its assumption of the Environmental Liabilities associated with the matters listed on <u>Schedule 5.10(b)(i)</u> and request that the Governmental Entities direct all communications, requirements, notifications or official letters related to such matters to Filtration. Cummins shall use its reasonable best efforts to provide necessary assistance or signatures to Filtration to achieve the purposes of this <u>Section 5.10(b)(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Until such time as Filtration and Cummins complete the substitutions outlined in <u>Section 5.10(b)(i)</u>, Filtration shall comply with all applicable Environmental Laws, including all reporting obligations, and the terms and conditions of all orders, decrees, judgments, agreements, actions, Environmental Permits, financial assurances, obligations, instruments or other environmental approvals or filings that remain in Cummins' name relating to the Filtration Assets and the Filtration Environmental Liabilities. To the extent a substitution outlined in <u>Section 5.10(b)(i)</u> is not necessary, Filtration shall be responsible for all environmental filings related to its operations after the Effective Time.

**Article VI<u><br> PRESERVATION OF RECORDS; ACCESS TO INFORMATION; CONFIDENTIALITY; PRIVILEGE</u>**

Section 6.1 <u>Preservation of Corporate Records</u>. Except as otherwise required or agreed in writing, or as otherwise provided in any Ancillary Agreement, with regard to any Information referenced in <u>Section 6.2</u>, each Party shall use its reasonable best efforts, at such Party's sole cost and expense, to retain, until the latest of, as applicable, (a) the date on which such Information is no longer required to be retained pursuant to the applicable record retention policy of Cummins or such other member of the Cummins Group, respectively, as in effect immediately prior to the Effective Time, including pursuant to any "Litigation Hold" issued by Cummins or any of its Subsidiaries prior to the Effective Time, (b) the concluding date of any period as may be required by any applicable Law, (c) the concluding date of any period during which such Information relates to a pending or threatened Action which is known to the members of the Cummins Group or the Filtration Group, as applicable, in possession of such Information at the time any retention obligation with regard to such Information would otherwise expire, and (d) the concluding date of any period during which the destruction of such Information could interfere with a pending or threatened investigation by a Governmental Entity which is known to the members of the Cummins Group or the Filtration Group, as applicable, in possession of such Information at the time any retention obligation with regard to such Information would otherwise expire; <u>provided</u> that, with respect to any pending or threatened Action arising after the Effective Time, clause (c) of this sentence applies only to the extent that whichever member of the Cummins Group or the Filtration Group, as applicable, is in possession of such Information has been notified in writing pursuant to a "Litigation Hold" by the other Party of the relevant pending or threatened Action. The Parties agree that, upon written request from the other that certain Information relating to the Filtration Business, the Cummins Retained Businesses or the transactions contemplated by this Agreement be retained in connection with an Action, the Parties shall use their respective reasonable best efforts to preserve and not to destroy or dispose of such Information without the consent of the requesting Party.

Section 6.2 <u>Access to Information</u>. Other than in circumstances in which indemnification is sought pursuant to <u>Article V</u> (in which event the provisions of such <u>Article V</u> shall control) or for matters related to provision of Tax Records (as defined in the Tax Matters Agreement) (in which event the provisions of the Tax Matters Agreement shall control) and subject to appropriate restrictions for Privileged Information or Confidential Information:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Filtration Information</u>. At all times from and after the Effective Time, and subject to compliance with the terms of the Ancillary Agreements, upon the prior written request by, and at the expense of, Filtration for specific and identified Information:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that (x) relates to Filtration or the Filtration Business, as the case may be, prior to the Effective Time, or (y) is necessary for Filtration to comply with the terms of, or otherwise perform under, any Ancillary Agreement to which Cummins or Filtration are parties, Cummins shall provide, as soon as reasonably practicable following the receipt of such request, appropriate copies of such Information (or the originals thereof if Filtration has an actual need for such originals) in the possession or control of Cummins or any of its Affiliates or Subsidiaries, but only to the extent such items so relate and are not already in the possession or control of Filtration; <u>provided</u> that, to the extent any originals are delivered to Filtration pursuant to this Agreement or the Ancillary Agreements, Filtration shall, at its own expense, return them to Cummins within a reasonable time after the need to retain such originals has ceased; <u>provided</u>, <u>further</u> that, in the event that Cummins determines, based on the advice of counsel, that any such access or the provision of any such Information (including information requested under <u>Article VII</u>) would violate any Law or Contract with a third party or would waive any Privilege, Cummins shall not be obligated to provide such Information requested by Filtration; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that (x) is required by Filtration with regard to compliance with reporting, disclosure, filing or other requirements imposed on Filtration (including under applicable securities Laws) by a Governmental Entity having jurisdiction over Filtration, or (y) is for use in any other judicial, regulatory, administrative or other proceeding or in order to satisfy audit, accounting, claims, regulatory, litigation, Action or other similar requirements, as applicable, Cummins shall provide, as soon as reasonably practicable following the receipt of such request, appropriate copies of such Information (or the originals thereof if Filtration has an actual need for such originals) in the possession or control of Cummins or any of its Affiliates or Subsidiaries, but only to the extent such items so relate and are not already in the possession or control of Filtration; <u>provided</u> that, to the extent any originals are delivered to Filtration pursuant to this Agreement or the Ancillary Agreements, Filtration shall, at its own expense, return them to Cummins within a reasonable time after the need to retain such originals has ceased; <u>provided</u>, <u>further</u> that, in the event that Cummins determines, based on the advice of counsel, that any such access or the provision of any such Information (including information requested under <u>Article VII</u>) would violate any Law or Contract with a third party or would waive any Privilege, Cummins shall not be obligated to provide such Information requested by Filtration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Cummins Information</u>. At all times from and after the Effective Time, and subject to compliance with the terms of the Ancillary Agreements, upon the prior written request by, and at the expense of, Cummins for specific and identified Information:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that (x) relates to matters prior to the Effective Time or (y) is necessary for Cummins to comply with the terms of, or otherwise perform under, any Ancillary Agreement to which Cummins or Filtration are parties, Filtration shall provide, as soon as reasonably practicable following the receipt of such request, appropriate copies of such Information (or the originals thereof if Cummins has an actual need for such originals) in the possession or control of Filtration or any of its Affiliates or Subsidiaries, but only to the extent such items so relate and are not already in the possession or control of Cummins; <u>provided</u> that, to the extent any originals are delivered to Cummins pursuant to this Agreement or the Ancillary Agreements, Cummins shall, at its own expense, return them to Filtration within a reasonable time after the need to retain such originals has ceased; <u>provided</u>, <u>further</u> that, in the event that Filtration determines, based on the advice of counsel, that any such access or the provision of any such Information (including information requested under <u>Article VII</u>) would violate any Law or Contract with a third party or would waive any Privilege, Filtration shall not be obligated to provide such Information requested by Cummins; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that (x) is required by Cummins with regard to compliance with reporting, disclosure, filing or other requirements imposed on Cummins (including under applicable securities Laws) by a Governmental Entity having jurisdiction over Cummins, or (y) is for use in any other judicial, regulatory, administrative or other proceeding or in order to satisfy audit, accounting, claims, regulatory, litigation, Action or other similar requirements, as applicable, Filtration shall provide, as soon as reasonably practicable following the receipt of such request, appropriate copies of such Information (or the originals thereof if Cummins has an actual need for such originals) in the possession or control of Filtration or any of its Affiliates or Subsidiaries, but only to the extent such items so relate and are not already in the possession or control of Cummins; <u>provided</u>, <u>further</u> that, in the event that Filtration determines, based on the advice of counsel, that any such access or the provision of any such Information (including information requested under <u>Article VII</u>) would violate any Law or Contract with a third party or would waive any Privilege, Filtration shall not be obligated to provide such Information requested by Cummins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Communication of Obligations</u>. Each of Cummins and Filtration shall inform their respective officers, employees, agents, consultants, advisors, authorized accountants, counsel and other designated representatives who have or have had access to the other Party's Confidential Information or other Information provided pursuant to this <u>Article VI</u> or <u>Article VII</u> of their obligation to hold such Information confidential in accordance with the provisions of this Agreement.

Section 6.3 <u>Witness Services</u>. At all times from and after the Effective Time, each of Cummins and Filtration shall use its commercially reasonable efforts to make available to the other, upon reasonable written request, its and its Subsidiaries' officers, directors, employees and agents (taking into account the business demands of such individuals) as witnesses to the extent that (a) such Persons are required or may reasonably be requested to testify in connection with the prosecution or defense of any Action in which the requesting Party may from time to time be involved (except for claims, demands or Actions in which one or more members of one Group is adverse to one or more members of the other Group) and (b) there is no conflict in the Action between the requesting Party and the other Party. A Party providing a witness to the other Party under this <u>Section 6.3</u> shall be entitled to receive from the recipient of such witness services, upon the presentation of invoices therefor, payments for such amounts relating to supplies, disbursements and other out-of-pocket expenses (which shall not include the costs of salaries and benefits of employees who are witnesses or any pro rata portion of overhead or other costs of employing such employees which would have been incurred by such employees' employer regardless of the employees' service as witnesses), as may be reasonably incurred and properly paid under applicable Law.

Section 6.4 <u>Reimbursement; Other Matters</u>. Except to the extent otherwise contemplated by this Agreement or any Ancillary Agreement, a Party providing Information or access to Information to the other Party under this <u>Article VI</u> shall be entitled to receive from the recipient, upon the presentation of invoices therefor, payments for such amounts, relating to supplies, disbursements and other out-of-pocket expenses (which shall not include the costs of salaries and benefits of employees of such Party or any pro rata portion of overhead or other costs of employing such employees which would have been incurred by such employees' employer regardless of the employees' service with respect to the foregoing), as may be reasonably incurred in providing such Information or access to such Information.

Section 6.5 <u>Confidentiality.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Non-Disclosure</u>. Notwithstanding any termination of this Agreement, and except as otherwise provided in the Ancillary Agreements, each of Cummins and Filtration shall hold, and shall cause their respective Affiliates and their officers, employees, agents, consultants and advisors to hold, in strict confidence (and not to disclose or release or, except as otherwise permitted by this Agreement or any Ancillary Agreement, use, including for any ongoing or future commercial purpose, without the prior written consent of the Party to whom the Confidential Information relates (which may be withheld in such Party's sole and absolute discretion, except where disclosure is required by applicable Law)), any and all Confidential Information concerning or belonging to the other Party or its Affiliates; <u>provided</u> that each Party may disclose, or may permit disclosure of, Confidential Information (i) to its respective auditors, attorneys, financial advisors, bankers and other appropriate consultants and advisors who have a need to know such Information for auditing and other non-commercial purposes and are informed of the obligation to hold such Information confidential and in respect of whose failure to comply with such obligations, the applicable Party shall be responsible, (ii) if any Party or any of its respective Subsidiaries is required or compelled to disclose any such Confidential Information by judicial or administrative process or by other requirements of Law or stock exchange rule or is advised by outside counsel in connection with a proceeding brought by a Governmental Entity that it is advisable to do so, (iii) as required in connection with any legal or other proceeding by one Party against the other Party or in respect of claims by one Party against the other Party brought in a proceeding, (iv) as necessary in order to permit a Party to prepare and disclose its financial statements in connection with any regulatory filings or Tax Returns, (v) as necessary for a Party to enforce its rights or perform its obligations under this Agreement (including pursuant to <u>Section 2.3</u>) or an Ancillary Agreement, (vi) to Governmental Entities in accordance with applicable procurement regulations and contract requirements or (vii) to other Persons in connection with their evaluation of, and negotiating and consummating, a potential strategic transaction, to the extent reasonably necessary in connection therewith, provided an appropriate and customary confidentiality agreement has been entered into with the Person receiving such Confidential Information. Notwithstanding the foregoing, in the event that any demand or request for disclosure of Confidential Information is made by a third party pursuant to clause (ii), (iii), (v) or (vi) above, each Party, as applicable, shall promptly notify (to the extent permissible by Law) the Party to whom the Confidential Information relates of the existence of such request, demand or disclosure requirement and shall provide such affected Party a reasonable opportunity to seek an appropriate protective order or other remedy, which such Party shall cooperate in obtaining to the extent reasonably practicable. In the event that such appropriate protective order or other remedy is not obtained, the Party which faces the disclosure requirement shall furnish only that portion of the Confidential Information that is required to be disclosed and shall take commercially reasonable steps to ensure that confidential treatment is accorded such Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Third Party Information</u>. Each Party acknowledges that it and the other members of its Group may have in its or their possession confidential or proprietary Information of third parties that was received under confidentiality or non-disclosure agreements with such third party while such Party or members of its Group were part of the Cummins Group. Each Party shall comply, and shall cause the other members of its Group to comply, and shall cause its and their respective officers, employees, agents, consultants and advisors (or potential buyers) to comply, with all terms and conditions of any such third-party agreements entered into prior to the Effective Time, with respect to any confidential and proprietary Information of third parties to which it or any other member of its Group has had access.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Use of Confidential Information</u>. Notwithstanding any provision of this Agreement to the contrary, (i) the Parties shall be deemed to have satisfied their obligations hereunder with respect to Confidential Information if they exercise at least the same degree of care that applies to Cummins' Confidential Information pursuant to policies in effect as of the Effective Time, and (ii) confidentiality obligations provided for in any Contract between each Party or its Subsidiaries and their respective employees shall remain in full force and effect. Notwithstanding any provision of this Agreement to the contrary, Confidential Information of any Party in the possession of and used by any other Party as of the Effective Time may continue to be used by such Party in possession of the Confidential Information in and only in the operation of the Filtration Business (in the case of the Filtration Group) or the Cummins Retained Business (in the case of the Cummins Group); <u>provided</u> that such Confidential Information may only be used by such Party and its officers, employees, agents, consultants and advisors in the specific manner and for the specific purposes for which it is used as of the date of this Agreement, and may only be shared with additional officers, employees, agents, consultants and advisors of such Party on a need-to-know basis exclusively with regard to such specified use; <u>provided</u>, <u>further</u> that such Confidential Information may be used only so long as the Confidential Information is maintained in confidence and not disclosed in violation of <u>Section 6.5(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Remedies for Breach</u>. The Parties agree that irreparable damage may occur in the event that the provisions of this <u>Section 6.5</u> were not performed in accordance with their specific terms. Accordingly, it is hereby agreed that the Parties shall be entitled to seek an injunction or injunctions to enforce specifically the terms and provisions hereof in any court having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Priority of Obligations</u>. For the avoidance of doubt and notwithstanding any other provision of this <u>Section 6.5</u> to the contrary, (i) the disclosure and sharing of Privileged Information shall be governed solely by <u>Section 6.6</u>, and (ii) Information that is subject to any confidentiality provision or other disclosure restriction in any Ancillary Agreement shall be governed by the terms of such Ancillary Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Subsequent Disclosure</u>. For the avoidance of doubt and notwithstanding any other provision of this <u>Section 6.5</u> to the contrary, following the Effective Date, the confidentiality obligations under this Agreement shall continue to apply to any and all Confidential Information concerning or belonging to each Party or its Affiliates that is shared or disclosed with the other Party or its Affiliates, whether or not such Confidential Information is shared pursuant to this Agreement, any Ancillary Agreement or otherwise.

Section 6.6 <u>Privilege Matters.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Pre-IPO Services</u>. The Parties recognize that legal and other professional services that have been and will be provided prior to the Effective Time have been and will be rendered for the collective benefit of each of the members of the Cummins Group and the Filtration Group, and that each of the members of the Cummins Group and the Filtration Group should be deemed to be the client with respect to such pre-IPO services for the purposes of asserting all privileges, immunities or other protections from disclosure which may be asserted under applicable Law, including attorney-client privilege, business strategy privilege, joint defense privilege, common interest privilege, and protection under the work-product doctrine ("<u>Privilege</u>"). The Parties shall have a shared Privilege with respect to all Information subject to Privilege ("<u>Privileged Information</u>") which relates to such pre-IPO services. For the avoidance of doubt, Privileged Information within the scope of this <u>Section 6.6</u> includes, but is not limited to, services rendered by legal counsel retained or employed by any Party (or any member of such Party's respective Group), including outside counsel and in-house counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Post-IPO Services</u>. The Parties recognize that legal and other professional services will be provided following the Effective Time to each of Cummins and Filtration. The Parties further recognize that certain of such post-IPO services will be rendered solely for the benefit of Cummins or Filtration, as the case may be, while other such post-IPO services may be rendered with respect to claims, proceedings, litigation, disputes, or other matters which involve both Cummins and Filtration. With respect to such post-IPO services and related Privileged Information, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) All Privileged Information relating to any claims, proceedings, litigation, disputes or other matters which involve both Cummins and Filtration shall be subject to a shared Privilege among the Parties involved in the claims, proceedings, litigation, disputes or other matters at issue; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Except as otherwise provided in <u>Section 6.6(b)(i)</u>, Privileged Information relating to post-IPO services provided solely to one of Cummins or Filtration shall not be deemed shared between the Parties; <u>provided</u> that the foregoing shall not be construed or interpreted to restrict the right or authority of the Parties (x) to enter into any further agreement, not otherwise inconsistent with the terms of this Agreement, concerning the sharing of Privileged Information, or (y) otherwise to share Privileged Information without waiving any Privilege which could be asserted under applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Shared Privilege</u>. The Parties agree as follows regarding all Privileged Information with respect to which the Parties shall have a shared Privilege under <u>Section 6.6(a)</u> or <u>Section 6.6(b)</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Subject to <u>Section 6.6(c)(iv)</u> and <u>Section 6.6(c)(v)</u>, Filtration shall not waive, allege or purport to waive, any Privilege which could be asserted under any applicable Law, and in which Cummins has a shared Privilege, without the consent of Cummins, which shall not be unreasonably withheld or delayed and shall be in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Prior to the Disposition Date and notwithstanding any provision of this <u>Section 6.6(c)</u> to the contrary, Cummins shall be entitled, in its discretion to waive, allege or purport to waive, any Privilege in connection with any Privileged Information, whether or not the Privileged Information is in the possession or under the control of any member of the Cummins Group or any member of the Filtration Group. Following the Disposition Date and subject to <u>Section 6.6(c)(iv)</u> and <u>Section 6.6(c)(v)</u>, Cummins shall not waive, allege or purport to waive, any Privilege which could be asserted under any applicable Law, and in which Filtration has a shared Privilege, without the consent of Filtration, which shall not be unreasonably withheld or delayed. Consent shall be in writing, or shall be deemed to be granted unless written objection is made within fifteen (15) days after written notice by Cummins to Filtration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If a dispute arises between or among the Parties or their respective Subsidiaries regarding whether a Privilege should be waived to protect or advance the interest of any Party, each Party agrees that it shall negotiate in good faith, and shall endeavor to minimize any prejudice to the rights of the other Party. Neither Cummins nor Filtration shall unreasonably withhold consent to any request for waiver by the other Party and each of Cummins and Filtration specifically agrees that it shall not withhold consent to waive for any purpose except to protect its own legitimate interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If, within fifteen (15) days of receipt by Cummins of Filtration, as the case may be, of written objection, the Parties have not succeeded in negotiating a resolution to any dispute regarding whether a Privilege should be waived, and the Party seeking waiver of a Privilege determines that such Privilege should nonetheless be waived to protect or advance its interest, such Party shall provide the other Party fifteen (15) days written notice prior to effecting such waiver. Each Party specifically agrees that failure within fifteen (15) days of receipt of such notice to commence proceedings in accordance with <u>Section 8.2</u> to enjoin such disclosure under applicable Law shall be deemed full and effective consent to such disclosure, and any such Privilege shall not be waived by Cummins or Filtration, as the case may be, until the final determination of such dispute in accordance with <u>Section 8.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) In the event of any litigation or dispute between the Parties, or any members of their respective Groups, either such Party may waive a Privilege in which the other Party or member of such Group has a shared Privilege, without obtaining the consent of the other Party; <u>provided</u> that such waiver of a shared Privilege shall be effective only as to the use of Privileged Information with respect to the litigation or dispute between the Parties or the applicable members of their respective Groups, and shall not operate as a waiver of the shared Privilege with respect to third parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Preservation of Privilege</u>. The transfer of all Information pursuant to this Agreement is made in reliance on the agreement of Cummins or Filtration as set forth in <u>Section 6.5</u> and this <u>Section 6.6</u>, to maintain the confidentiality of Privileged Information and to assert and maintain any applicable Privilege. The access to Information being granted pursuant to <u>Section 5.5</u>, <u>Section 6.1</u>, <u>Section 6.2</u> and <u>Article VII</u>, the agreement to provide witnesses and individuals pursuant to <u>Section 5.5</u> and <u>Section 6.3</u>, the furnishing of notices and documents and other cooperative efforts contemplated by <u>Section 5.5</u>, and the transfer of Privileged Information between the Parties and their respective Subsidiaries pursuant to this Agreement shall not be deemed a waiver of any Privilege that has been or may be asserted under this Agreement or otherwise.

Section 6.7 <u>Ownership of Information</u>. Any Information owned by one Party or any of its Subsidiaries that is provided to a requesting Party pursuant to this <u>Article VI</u> shall be deemed to remain the property of the providing Party. Unless expressly set forth herein, nothing contained in this Agreement shall be construed as granting a license or other rights to any Party with respect to any such Information, whether by implication, estoppel or otherwise.

Section 6.8 <u>Personal Data.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Data Controller</u>. The Parties acknowledge that (i) Cummins is a Data Controller with respect to the Processing of the Cummins Personal Data prior to and after the Effective Time, (ii) Cummins and Filtration are separate Data Controllers with respect to the Processing of Filtration Personal Data prior to the Effective Time, and (iii) Filtration remains a Data Controller with respect to the Processing of the Filtration Personal Data from and after the Effective Time. As such, from and after the Effective Time, Filtration shall comply with the requirements of Data Protection Laws applicable to Data Controllers in connection with the Filtration Personal Data and this Agreement and shall not knowingly do anything or permit anything to be done which might lead to a breach by Cummins or its Affiliates of the Data Protection Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Data Processing</u>. Both Parties shall cooperate to ensure that their Processing of Personal Data hereunder does and will comply with all applicable Data Protection Laws and take all reasonable precautions to avoid acts that place the other Party in breach of its obligations under any applicable Data Protection Laws. Nothing in this <u>Section 6.8</u> shall be deemed to prevent any Party from taking the steps it reasonably deems necessary to comply with any applicable Data Protection Laws.

Section 6.9 <u>Other Agreements</u>. The rights and obligations granted under this <u>Article VI</u> are subject to any specific limitations, qualifications or additional provisions on the sharing, exchange or confidential treatment of Information expressly set forth in any Ancillary Agreement.

**Article VII<u><br> FINANCIAL AND OTHER COVENANTS</u>**

Section 7.1 <u>Disclosure and Financial Controls</u>. Filtration agrees that, for so long as Cummins is required to consolidate the results of operations and financial position of Filtration or any other members of the Filtration Group or to account for its investment in Filtration or any other members of the Filtration Group under the equity method of accounting (determined in accordance with GAAP and consistent with Commission reporting requirements) (such period, which shall be extended if and for so long as any amendments to, or restatements or modifications of, any Cummins Public Filings made during such period are necessary, the "<u>Applicable Period</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Disclosure and Financial Controls</u>. (i) Filtration shall, and shall cause each other member of the Filtration Group to, maintain disclosure controls and procedures and internal control over financial reporting as defined in Rule 13a-15 under the Exchange Act; (ii) Filtration shall cause each of its principal executive and principal financial officers to sign and deliver certifications to Filtration's periodic reports and will include the certifications in Filtration's periodic reports, in each case, as and when required pursuant to Rule 13a-14 under the Exchange Act and Item 601 of Regulation S-K; (iii) Filtration shall comply with its obligations under Sections 302 and 404 of the Sarbanes-Oxley Act of 2002; (iv) Filtration shall cause its management to evaluate Filtration's disclosure controls and procedures and internal control over financial reporting (including any change in internal control over financial reporting) as and when required pursuant to Rule 13a-15 under the Exchange Act; (v) Filtration shall disclose in its periodic reports filed with the Commission information concerning Filtration management's responsibilities for and evaluation of Filtration's disclosure controls and procedures and internal control over financial reporting (including the annual management report and attestation report of Filtration's independent auditors relating to internal control over financial reporting) as and when required under Items 307 and 308 of Regulation S-K and other applicable Commission rules; and (vi) without limiting the general application of the foregoing, Filtration shall, and shall cause each other member of the Filtration Group to, maintain internal systems and procedures that will provide reasonable assurance that (A) the Financial Statements (as defined below) are reliable and timely prepared in accordance with GAAP and applicable Law, (B) all transactions of members of the Filtration Group are recorded as necessary to permit the preparation of the Financial Statements, (C) the receipts and expenditures of members of the Filtration Group are authorized at the appropriate level within Filtration, and (D) unauthorized use or disposition of the assets of any member of the Filtration Group that could have a material effect on the Financial Statements is prevented or detected in a timely manner. It is understood and agreed that references in this <u>Section 7.1(a)</u> to reporting or other obligations of Filtration shall be deemed to assume, for purposes hereof, that Filtration is subject to the same rules and regulations as Cummins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Fiscal Year</u>. Filtration shall, and shall cause each member of the Filtration Group organized in the United States to, maintain a fiscal year and fiscal quarters that commence and end on the same calendar days as Cummins' fiscal year and fiscal quarters commence and end, and maintain monthly accounting periods that commence and end on the same calendar days as Cummins' monthly accounting periods commence and end. Filtration shall, and shall cause each other member of the Filtration Group organized outside of the United States to, maintain a fiscal year and fiscal quarters that commence and end on the same calendar days as the fiscal year and fiscal quarters of the corresponding members of the Cummins Group (if any) organized outside of the United States commences and ends, and maintain monthly accounting periods that commence and end on the same calendar days as the monthly accounting periods of the corresponding members of the Cummins Group (if any) organized outside of the United States commence and end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Monthly and Quarterly Financial Information</u>. Filtration shall deliver or otherwise make available to Cummins a consolidated income statement and balance sheet, or the information required to prepare a consolidated income statement and balance sheet, on a monthly basis for Filtration for such period in the same format and manner, with the same detail, and in the same timeframe, as the Filtration Business delivered or made available such information to Cummins prior to the Effective Date (such practices, the "<u>Financial Delivery Practices</u>"). Filtration shall deliver or otherwise make available to Cummins a consolidated income statement and balance sheet and supplemental data related to cash flows, or the information required to prepare a consolidated income statement and balance sheet and supplemental data related to cash flows, and other necessary disclosures on a quarterly basis in accordance with the Financial Delivery Practices. Filtration shall be responsible for reviewing its results and data and for informing Cummins immediately of any post-closing adjustments that come to its attention. Filtration shall provide final sign-off of its results, using Cummins's materiality standards, no later than nine (9) Business Days after the quarterly close period end for the income statement and no later than twelve (12) Business Days after the quarterly close period end for the balance sheet and supplemental data, in each case unless, otherwise directed by Cummins. Filtration shall provide to Cummins a certification by the Chief Executive Officer and Chief Financial Officer of Filtration that the quarterly financials fairly present, in all material respects, the financial position and results of operation of the Filtration Group and internal controls appropriately represent the current financial reporting controls of Filtration no later than five (5) Business Days prior to Cummins' filing of its quarterly financial statements with the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Quarterly Financial Statements</u>. Filtration shall, as soon as practicable and in accordance with the Financial Delivery Practices, deliver to Cummins drafts of (i) the consolidated financial statements of the Filtration Group (and notes thereto) for each fiscal quarter and for the period from the beginning of the current fiscal year to the end of such quarter, setting forth, in each case, in comparative form for each such fiscal quarter of Filtration the consolidated figures (and notes thereto) for the corresponding quarter and periods of the previous fiscal year and all in reasonable detail and prepared in accordance with Article 10 of Regulation S-X and GAAP, and (ii) a discussion and analysis by management of the Filtration Group's financial condition and results of operations for such fiscal quarter, including an explanation of any material period-to-period changes and any off-balance sheet transactions, all in reasonable detail and prepared in accordance with Item 303(b) of Regulation S-K; <u>provided</u>, <u>however</u>, that Filtration shall deliver such information at a specified, earlier time upon Cummins' written request with at least twenty (20) days' advance notice. The information set forth in clauses (i) and (ii) above is referred to in this Agreement as the "<u>Quarterly Financial Statements</u>." No later than seven (7) Business Days prior to the date Filtration publicly files the Quarterly Financial Statements with the Commission or otherwise makes such Quarterly Financial Statements publicly available, Filtration shall deliver to Cummins the final form of the Quarterly Financial Statements and certifications thereof by the principal executive and financial officers of Filtration in the forms required under Commission rules for periodic reports and in form and substance satisfactory to Cummins; <u>provided</u>, <u>however</u>, that Filtration may continue to revise such Quarterly Financial Statements prior to the filing thereof in order to make corrections and non-substantive changes which corrections and changes will be delivered by Filtration to Cummins as soon as practicable, and in any event within eight (8) hours of making any such corrections or changes; <u>provided</u>, <u>further</u>, that Cummins' and Filtration's legal and financial representatives shall actively consult with each other regarding any changes (whether or not substantive) which Filtration may consider making to its Quarterly Financial Statements and related disclosures during the seven (7) Business Days immediately prior to any anticipated filing with the Commission, with particular focus on any changes which would have an effect upon Cummins' financial statements or related disclosures. Without limiting the foregoing, Filtration shall consult with Cummins regarding Cummins' comments on the Quarterly Financial Statements and related disclosures and shall accept all of Cummins' comments on such Quarterly Financial Statements and related disclosures, except to the extent such comments are inconsistent with applicable Law or GAAP. In addition to the foregoing, no Quarterly Financial Statement or any other document which refers to, or contains information not previously publicly disclosed with respect to, the ownership of Filtration by Cummins or the Transactions shall be filed with the Commission or otherwise made public by any Filtration Group member without the prior written consent of Cummins unless otherwise required by applicable Law. Notwithstanding anything to the contrary in this <u>Section 7.1(d)</u>, Filtration shall not file its Quarterly Financial Statements with the Commission prior to the time that Cummins files the Cummins quarterly financial statements with the Commission unless otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Annual Financial Statements</u>. On an annual basis and in accordance with the Financial Delivery Practices, Filtration shall deliver to Cummins an income statement and balance sheet and supplemental data related to cash flows and other necessary disclosures for such fiscal year in such format and detail as Cummins may reasonably request. Filtration shall be responsible for reviewing its results and data and for informing Cummins immediately of any post-closing adjustments in excess of $5,000,000 pre-tax that come to its attention and of any adjustments below $5,000,000 but in excess of $1,000,000 pre-tax within eight (8) hours of its awareness. Filtration shall provide final sign-off of its results, using Cummins' materiality standards, no later than nine (9) Business Days after the annual close period end for the income statement and no later than twelve (12) Business Days after the annual close period end for the balance sheet and supplemental data, in each case, unless otherwise directed by Cummins. Filtration shall provide to Cummins a certification by the Chief Executive Officer and Chief Financial Officer of Filtration pertaining to the internal controls no later than five (5) Business Days prior to Cummins' filing of its audited annual financial statements (the "<u>Cummins Annual Statements</u>") with the Commission. As soon as practicable, and in any event no later than twenty (20) Business Days prior to the date on which Cummins has notified Filtration that Cummins intends to file its annual report on Form 10-K or other document containing annual financial statements with the Commission, Filtration shall deliver to Cummins any financial and other information and data with respect to the Filtration Group and its business, properties, financial position, results of operations and prospects as is reasonably requested by Cummins in connection with the preparation of Cummins's financial statements and annual report on Form 10-K. As soon as practicable, and in any event no later than ten (10) Business Days prior to the date on which Filtration is required to file an annual report on Form 10-K or other document containing its Annual Financial Statements (as defined below) with the Commission, Filtration shall deliver to Cummins (i) drafts of the consolidated financial statements of the Filtration Group (and notes thereto) for such year, setting forth, in each case, in comparative form the consolidated figures (and notes thereto) for the previous fiscal years and all in reasonable detail and prepared in accordance with Regulation S-X and GAAP, and (ii) a discussion and analysis by management of the Filtration Group's financial condition and results of operations for such year, including an explanation of any material period-to-period change and any off-balance sheet transactions, all in reasonable detail and prepared in accordance with Items 303(a) and 305 of Regulation S-K. The information set forth in clauses (i) and (ii) above is referred to in this Agreement as the "<u>Annual Financial Statements</u>." Filtration shall deliver to Cummins all revisions to such drafts as soon as any such revisions are prepared or made. No later than seven (7) Business Days prior to the date Filtration publicly files the Annual Financial Statements with the Commission or otherwise makes such Annual Financial Statements publicly available, Filtration shall deliver to Cummins the final form of its annual report on Form 10-K and certifications thereof by the principal executive and financial officers of Filtration in the forms required under Commission rules for periodic reports and in form and substance satisfactory to Cummins; <u>provided</u>, <u>however</u>, that Filtration may continue to revise such Annual Financial Statements prior to the filing thereof in order to make corrections and non-substantive changes which corrections and changes will be delivered by Filtration to Cummins as soon as practicable, and in any event within eight (8) hours of making any such corrections or changes; <u>provided</u>, <u>further</u>, that Cummins' and Filtration's legal and financial representatives shall actively consult with each other regarding any changes (whether or not substantive) which Filtration may consider making to its Annual Financial Statements and related disclosures during the seven (7) Business Days immediately prior to any anticipated filing with the Commission. Without limiting the foregoing, Filtration will consult with Cummins regarding Cummins' comments on the Annual Financial Statements and related disclosures and shall accept all of Cummins' comments on such Annual Financial Statements and related disclosures, except to the extent such comments are inconsistent with applicable Law or GAAP. In addition to the foregoing, no Annual Financial Statement or any other document which refers to, or contains information not previously publicly disclosed with respect to, the ownership of Filtration by Cummins or the Transactions will be filed with the Commission or otherwise made public by any Filtration Group member without the prior written consent of Cummins unless otherwise required by applicable Law. Notwithstanding anything to the contrary in this <u>Section 7.1(e)</u>, Filtration shall not file its Annual Financial Statements with the Commission prior to the time that Cummins files the Cummins Annual Statements with the Commission unless otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Affiliate Financial Statements</u>. Filtration shall deliver to Cummins all quarterly financial statements and annual financial statements of each Affiliate of Filtration which is itself required to file financial statements with the Commission or otherwise make such financial statements publicly available, with such financial statements to be provided in the same manner and detail and on the same time schedule as Quarterly Financial Statements and Annual Financial Statements required to be delivered to Cummins pursuant to this <u>Section 7.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Conformance with Cummins Financial Presentation</u>. All information provided by any member of the Filtration Group to Cummins or filed with the Commission pursuant to <u>Section 7.1(c)</u> through <u>Section 7.1(f)</u> inclusive shall be consistent in terms of format and detail and otherwise with Cummins' policies with respect to the application of GAAP and practices in effect on the Effective Date with respect to the provision of such financial information by such member of the Filtration Group to Cummins (and, where appropriate, as presently presented in financial reports to the Cummins Board), with such changes therein as may be requested by Cummins from time to time consistent with changes in such accounting principles and practices, including any changes in the interpretation or application of GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Filtration Reports Generally</u>. Filtration shall, and shall cause each other member of the Filtration Group that files information with the Commission to, deliver to Cummins: (i) substantially final drafts, as soon as the same are prepared, of (A) all reports, notices and proxy and information statements to be sent or made available by such member(s) of the Filtration Group to its or their respective security holders, (B) all regular, periodic and other reports to be filed or furnished under Sections 13, 14, 15 and 16 of the Exchange Act and the rules and regulations thereunder (including reports on Forms 10-K, 10-Q and 8-K, annual reports to stockholders, and Forms 3, 4 and 5 and amendments thereto with respect to Filtration Securities ("<u>Section 16 Reports</u>")), and (C) all registration statements and prospectuses to be filed by any such member of the Filtration Group with the Commission or any securities exchange pursuant to the listed company manual (or similar requirements) of such exchange (collectively, the documents identified in clauses (A), (B) and (C) are referred to in this Agreement as "<u>Filtration Public Documents</u>"); and (ii) as soon as practicable, but in no event later than five (5) Business Days (other than with respect to Form 8-Ks or Section 16 Reports) prior to the earliest of the dates the same are printed, sent or filed, current drafts of all such Filtration Public Documents and, with respect to Form 8-Ks and Section 16 Reports, as soon as practicable, but in no event later than three (3) Business Days prior to the earliest date the same are filed in the case of planned Form 8-Ks, and as soon as practicable, but in no event less than two (2) hours prior to the filing, in the case of unplanned Form 8-Ks and Section 16 Reports; <u>provided</u>, <u>however</u>, that Filtration may continue to revise such Filtration Public Documents prior to the filing thereof in order to make corrections and non-substantive changes, which corrections and changes will be delivered by Filtration to Cummins as soon as practicable, and in any event within eight (8) hours of making any such corrections or changes; <u>provided</u>, <u>further</u>, that the legal and financial representatives of Cummins and Filtration shall actively consult with each other regarding any changes (whether or not substantive) which Filtration may consider making to any of its Filtration Public Documents and related disclosures prior to any anticipated filing with the Commission, with particular focus on any changes which would have an effect upon Cummins' financial statements or related disclosures. Without limiting the foregoing, Filtration shall consult with Cummins regarding Cummins' comments on the Filtration Public Documents and shall accept all of Cummins' comments on such Filtration Public Documents, except to the extent such comments are inconsistent with applicable Law or GAAP. In addition to the foregoing, no Filtration Public Document or any other document which refers to, or contains information not previously publicly disclosed with respect to, the ownership of Filtration by Cummins or the Transactions will be filed with the Commission or otherwise made public by any Filtration Group member without the prior written consent of Cummins unless otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Budgets and Financial Projections</u>. Filtration shall, as promptly as reasonably practicable, deliver to Cummins copies of all annual budgets and financial projections (consistent in terms of format and detail with Cummins' historical practices, except as mutually agreed upon by the Parties) relating to Filtration on a consolidated basis and will provide Cummins an opportunity to meet with management of Filtration to discuss such budgets and projections. In addition, to the extent requested by Cummins, Filtration shall participate in Cummins' annual strategic review planning and other similar meetings and processes in a manner consistent with past practices or with such changes as Cummins may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Other Information</u>. With reasonable promptness, Filtration shall deliver to Cummins such additional financial and other information and data with respect to the Filtration Group and their business, properties, financial positions, results of operations and prospects as from time to time may be requested by Cummins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Press Releases and Similar Information</u>. Filtration and Cummins shall consult with each other as to the timing of their annual and quarterly earnings releases and any interim financial guidance for a current or future period and will give each other the opportunity to review the information therein relating to the Filtration Group and to comment thereon. Cummins and Filtration shall coordinate the timing of (i) their respective earnings release conference calls and (ii) their respective public earnings release issuance and filings with the Commission, in each case, as directed by Cummins. No later than one (1) Business Day prior to the time and date that a Party intends to publish its regular annual or quarterly earnings release or any financial guidance for a current or future period, such Party shall deliver to the other Party copies of substantially final drafts of all related press releases and other statements to be made available by any member of that Party's Group to employees of any member of that Party's Group or to the public concerning any matters that could be reasonably likely to have a material financial impact on the earnings, results of operations, financial condition or prospects of any member of the Filtration Group. In addition, prior to the issuance of any such press release or public statement that meets the criteria set forth in the preceding sentence, the issuing Party shall consult with the other Party regarding any changes (other than typographical or other similar minor changes) to such substantially final drafts. Immediately following the issuance thereof, the issuing Party shall deliver to the other Party copies of final drafts of all press releases and other public statements. Filtration shall obtain the written consent of Cummins prior to issuing any press releases or otherwise making public statements with respect to the Transactions or any of the other transactions contemplated hereby and prior to making any filings with any Governmental Entity with respect thereto, unless otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Cooperation on Cummins Filings</u>. Filtration shall cooperate fully, and cause the Filtration Auditors to cooperate fully, with Cummins to the extent requested by Cummins in the preparation of Cummins' public earnings or other press releases, quarterly reports on Form 10-Q, annual reports to shareholders, annual reports on Form 10-K, any current reports on Form 8-K and any other proxy, information and registration statements, reports, notices, prospectuses and any other filings made by Cummins with the Commission, any national securities exchange or otherwise made publicly available (collectively, the "<u>Cummins Public Filings</u>"). Filtration agrees to provide to Cummins all information that Cummins requests in connection with any Cummins Public Filings or that, in the judgment of Cummins' counsel, is required to be disclosed or incorporated by reference therein under any Law. Filtration shall provide such information in a timely manner on the dates requested by Cummins (which may be earlier than the dates on which Filtration otherwise would be required hereunder to have such information available) to enable Cummins to prepare, print and release all Cummins Public Filings on such dates as Cummins shall determine but in no event later than as required by applicable Law. Filtration shall use its commercially reasonable efforts to cause the Filtration Auditors to consent to any reference to them as experts in any Cummins Public Filings required under any Law. If and to the extent requested by Cummins, Filtration shall diligently and promptly review all drafts of such Cummins Public Filings and prepare in a diligent and timely fashion any portion of such Cummins Public Filing pertaining to Filtration. Prior to any printing or public release of any Cummins Public Filing, an appropriate executive officer of Filtration shall, if requested by Cummins, certify that, to his or her knowledge or otherwise to the extent required by applicable Law, the information relating to any member of the Filtration Group or the Filtration Business in such Cummins Public Filing is accurate, true, complete and correct in all material respects and does not contain any untrue statement of material fact. Unless required by Law, Filtration shall not, without Cummins' prior written consent, publicly release any financial or other information which conflicts with the information with respect to any member of the Filtration Group or the Filtration Business provided by Filtration or that Filtration otherwise has knowledge of that is included in any Cummins Public Filing. Prior to the release or filing thereof, Cummins shall provide Filtration with a draft of any portion of a Cummins Public Filing containing information relating to the Filtration Group and shall give Filtration an opportunity to review such information and comment thereon; <u>provided</u> that Cummins shall determine in its discretion the final form and content of all Cummins Public Filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Meetings with Financial Analysts</u>. Filtration shall notify Cummins reasonably in advance of the date of all scheduled meetings and conference calls to be held between Filtration and members of the investment community (including any financial analysts), and of any conferences to be attended by management of Filtration with members of the investment community, and shall consult with Cummins as to the appropriate timing for all such meetings, calls and conferences. Filtration shall not schedule such meeting or call or attend such conference on any date to which Cummins reasonably objects. The foregoing shall not require Filtration to notify Cummins of one-on-one discussions between management of Filtration and members of the investment community (including any financial analysts).

Section 7.2 <u>Auditors and Audits; Annual Statements and Accounting</u>. Filtration agrees that, during the Applicable Period and, for purposes of <u>Section 7.2(a)</u> only, for so long as Services are being provided under the Transition Services Agreement, Filtration shall comply with the following additional obligations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Selection of Filtration Auditors</u>. Unless required by Law or directed by Cummins, Filtration shall not select an accounting firm other than PricewaterhouseCoopers LLP (or its affiliate accounting firms) to serve as its independent certified public accountants (the "<u>Filtration Auditors</u>") without Cummins's prior written consent. Notwithstanding the foregoing, Filtration shall obtain the approval of Cummins prior to engaging PricewaterhouseCoopers LLP (or its affiliate accounting firms) for any non-audit services, including any such services that may affect the accounting firm's independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Audit Timing</u>. Beginning with the [●] fiscal year, Filtration will use its reasonable best efforts to enable the Filtration Auditors to complete their audit for the most recently completed fiscal year such that they will date their opinion on the Annual Financial Statements on the same date that Cummins' independent certified public accountants (the "<u>Cummins Auditors</u>") date their opinion on the Cummins Annual Statements, and to enable Cummins to meet its timetable for the printing, filing and public dissemination of the Cummins Annual Statements, all in accordance with <u>Section 7.1(a)</u> hereof and as required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Quarterly Review</u>. Beginning in the [●] fiscal year, Filtration shall use its reasonable best efforts to enable the Cummins Auditors to complete their quarterly review procedures on the Quarterly Financial Statements on the same date that the Cummins Auditors complete their quarterly review procedures on Cummins' quarterly financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Information Needed by Cummins</u>. Filtration shall provide to Cummins on a timely basis all information that Cummins requires to meet its schedule for the preparation, printing, filing and public dissemination of the Cummins Annual Statements in accordance with <u>Section 7.1(a)</u> and as required by applicable Law. Without limiting the generality of the foregoing, Filtration shall provide all required financial information with respect to the Filtration Group to the Filtration Auditors in a sufficient and reasonable time and in sufficient detail to permit the Filtration Auditors to take all steps and perform all reviews necessary to provide sufficient assistance to the Cummins Auditors with respect to information to be included or contained in the Cummins Annual Statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Access to Filtration Auditors</u>. Filtration shall authorize the Filtration Auditors to make available to the Cummins Auditors both the personnel who performed, or are performing, the annual audit and quarterly reviews of Filtration and work papers related to the annual audit and quarterly reviews of Filtration, in all cases, within a reasonable time prior to the Filtration Auditors' opinion date, so that the Cummins Auditors are able to perform the procedures they consider necessary to take responsibility for the work of the Filtration Auditors as it relates to the Cummins Auditors' report on Cummins's financial statements, all within sufficient time to enable Cummins to meet its timetable for the printing, filing and public dissemination of the Cummins Annual Statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Access to Records</u>. Filtration shall provide the Cummins Auditors and Cummins' other representatives, including Cummins' internal auditors, with access to the Filtration Group's books and records so that Cummins may conduct audits relating to the financial statements provided by Filtration under this Agreement as well as to the internal accounting controls and operations of the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Operating Review Process</u>. Filtration shall conduct its strategic and operational review process on a schedule that is consistent with that of Cummins'. As a supplement to the information furnished by Filtration to Cummins pursuant to <u>Section 7.1</u>, Filtration shall allow Cummins to conduct its strategic and operational reviews of Filtration through participation in meetings or other activities of the Filtration Board by the Cummins Designees or otherwise as requested by Cummins outside of such meetings or other activities of the Filtration Board. To facilitate Cummins' participation in the process in this manner, Filtration shall hold all of its regularly scheduled board meetings at which its strategic and operational reviews are discussed within a time frame consistent with Cummins' strategic and operational review process. Filtration shall also allow Cummins to conduct all other reviews of Filtration's operations, affairs, finances or results (other than those required to comply with applicable financial reporting requirements or its customary financial reporting practices) through participation in meetings or other activities of the Filtration Board by the Cummins Designees or otherwise as requested by Cummins outside of such meetings or other activities of the Filtration Board. In connection with strategic, operational or other reviews, relevant Cummins personnel other than the Cummins Designees may participate at Cummins' invitation. Cummins shall notify Filtration in advance of any such additional attendees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Notice of Changes</u>. Filtration will give Cummins as much prior notice as reasonably practicable of any proposed determination of, or any significant changes in, Filtration's accounting estimates or accounting principles from those in effect on the Effective Date. Filtration will consult with Cummins and, if requested by Cummins, Filtration will consult with the Cummins Auditors with respect thereto. Filtration will not make any such determination or changes without Cummins's prior written consent if such a determination or a change would be sufficiently material to be required to be disclosed in Filtration's or Cummins's financial statements as filed with the Commission or otherwise publicly disclosed therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Accounting Changes Requested by Cummins</u>. Notwithstanding <u>Section 7.2(h)</u>, Filtration shall make any changes in its accounting practices or accounting principles, including any changes in the interpretation or application of GAAP, that are requested by Cummins in order for Filtration's accounting practices and principles to be consistent with those of Cummins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Special Reports of Deficiencies or Violations</u>. Filtration shall report in reasonable detail to Cummins the following events or circumstances promptly (and in any event within forty-eight (48) hours) after any executive officer of Filtration or any member of the Filtration Board becomes aware of such matter: (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect Filtration's ability to record, process, summarize and report financial information; (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in Filtration's internal controls over financial reporting; (iii) any illegal act within the meaning of Section 10A(b) and (f) of the Exchange Act; and (iv) any other material violation of Law (including any violation of law that an attorney representing any member of the Filtration Group has formally reported to any officers or directors of Filtration pursuant to the Commission's attorney conduct rules (17 C.F.R. Part 205)).

Section 7.3 <u>Filtration Board Representation.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Cummins Designees</u>. From the Effective Date until the Disposition Date, Cummins shall have the right to designate for nomination by the Filtration Board (or any nominating committee thereof) for election to the Filtration Board (each person so designated, a "<u>Cummins Designee</u>") up to a majority of the members of the Filtration Board and the right to designate the Chairman of the Board. For so long as the Cummins Group Beneficially Owns shares of Filtration Common Stock representing, in the aggregate, less than a majority but at least ten percent (10%) of the total voting power of the then outstanding Filtration Voting Stock, Cummins shall have the right to designate for nomination by the Filtration Board (or any nominating committee thereof) for election to the Filtration Board up to a proportionate number of Cummins Designees to the Filtration Board, as calculated in accordance with <u>Section 7.3(d)</u>. Each of the Cummins Designees shall, and Cummins shall direct each of the Cummins Designees to, undertake in writing to submit such Cummins Designee's resignation from the Filtration Board on the earlier of (i) the date when the Cummins Group Beneficially Owns shares of Filtration Common Stock representing, in the aggregate, less than 10% of the total voting power of the then outstanding Filtration Voting Stock, with such resignations taking effect on the date that the Filtration Board accepts such resignations, or (ii) in case of any Cummins Designee who is an Overlapping Director not otherwise permitted to continue serving on the Filtration Board pursuant to <u>Section 7.3(e)</u>, the Disposition Date, with such resignation effective as of the Disposition Date; <u>provided</u>, <u>however</u>, that before the Disposition Date, the Parties may mutually agree in writing on one Cummins Designee who shall not be required to deliver such resignation to the extent such Cummins Designee would not constitute an Overlapping Director prohibited by <u>Section 7.3(e)</u>. Notwithstanding anything to the contrary set forth herein, Filtration's obligations with respect to the election or appointment of Cummins Designees (A) shall be limited to the obligations set forth under this <u>Section 7.3</u> and (B) shall be further limited by Filtration's compliance with Law and any applicable Commission or stock exchange director independence requirements (giving effect to any "controlled company" exemption applicable thereto), <u>provided</u> that Filtration otherwise exercises reasonable best efforts to comply therewith. Cummins, in its discretion, may determine to designate fewer than its maximum number of Cummins Designees, although any such determination may be changed at any time by Cummins. As of the Effective Date, the initial Cummins Designees serving on the Filtration Board are set forth on <u>Schedule 7.3(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Controlled Company Exemptions</u>. Until the Disposition Date, Filtration shall, to the extent required by Cummins, take advantage of all available "controlled company" exemptions under the rules of the stock exchange on which Filtration's shares are listed, including exemptions from compliance with certain corporate governance requirements relating to director independence. Commencing with the annual meeting of stockholders of Filtration to be held in 2023 and prior to each annual meeting of stockholders of Filtration thereafter, Cummins shall be entitled to present to the Filtration Board or any nominating committee thereof for nomination thereby such number of Cummins Designees for election to the Filtration Board (or if there is a classified board, the class of directors up for election) at such annual meeting as would result in Cummins having the appropriate number of Cummins Designees on the Filtration Board as determined pursuant to this <u>Section 7.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Nomination of Cummins Designees</u>. Filtration and the Filtration Board shall exercise all authority under applicable Law to cause all Cummins Designees to be nominated for election as members of the Filtration Board by the Filtration Board (or any nominating committee thereof). Filtration and the Filtration Board shall cause each Cummins Designee for election to the Filtration Board to be included in the slate of nominees recommended by the Filtration Board to holders of Filtration Common Stock (including at any special meeting of stockholders held for the election of directors) and shall use reasonable best efforts to cause the election of each such Cummins Designee, including soliciting proxies in favor of the election of such persons. In the event that any Cummins Designee elected to the Filtration Board shall cease to serve as a director for any reason, the vacancy resulting therefrom shall be filled by the Filtration Board with a substitute Cummins Designee. In the event that, as a result of any increase in the size of the Filtration Board, Cummins is entitled to have one or more additional Cummins Designees elected to the Filtration Board pursuant to this <u>Section 7.3</u>, the Filtration Board shall appoint the appropriate number of such additional Cummins Designees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Proportional Representation</u>. If at any time the Cummins Group Beneficially Owns shares of Filtration Common Stock representing, in the aggregate, less than a majority but at least 10% of the total voting power of the then outstanding Filtration Voting Stock, the number of persons Cummins shall be entitled to designate for nomination by the Filtration Board (or any nominating committee thereof) for election to the Filtration Board shall be equal to the number of directors computed using the following formula (rounded to the nearest whole number): the product of (i) the percentage of the total voting power of the then outstanding Filtration Voting Stock Beneficially Owned by the Cummins Group and (ii) the number of directors then on the Filtration Board (assuming no vacancies exist). Notwithstanding the foregoing, if the calculation set forth in the foregoing sentence would result in Cummins being entitled to elect a majority of the members of the Filtration Board solely as a result of rounding, the formula will be recalculated with the product being rounded down to the nearest whole number; <u>provided</u>, <u>however</u>, that, if the Cummins Group, at any time, acquires additional shares of Filtration Common Stock such that the Cummins Group Beneficially Owns shares of Filtration Common Stock representing, in the aggregate, a majority of the total voting power of the then outstanding Filtration Voting Stock, then the number of persons Cummins shall be entitled to designate for nomination by the Filtration Board (or any nominating committee thereof) for election to the Filtration Board shall be adjusted upward, if appropriate as a result of rounding, in accordance with the provisions of this <u>Section 7.3(d)</u>. If the number of Cummins Designees serving on the Filtration Board exceeds the number determined pursuant to the foregoing sentences of this <u>Section 7.3(d)</u> (such difference being herein called the "<u>Excess Director Number</u>"), then Cummins in its discretion shall instruct such Cummins Designees (the number of which designees shall be equal to the Excess Director Number) to promptly resign from the Filtration Board, and, to the extent such persons do not so resign, Cummins shall assist Filtration in increasing the size of the Filtration Board, so that after giving effect to such increase, the number of Cummins Designees on the Filtration Board is in accordance with the provisions of this <u>Section 7.3(d)</u>. Cummins, in its discretion, may determine to designate fewer than its maximum number of Cummins Designees, although any such determination may be changed at any time by Cummins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Overlapping Directors</u>. Notwithstanding anything to the contrary set forth herein, from and after the Disposition Date, (i) in no event will the Filtration Board include more than one Overlapping Director, and (ii) to the extent there is an Overlapping Director, such Overlapping Director will represent no more than a minority share of the overall composition of either the Cummins Board or the Filtration Board.

Section 7.4 <u>Committees</u>. As of the Effective Date and at all times until the Disposition Date, any committee of the Filtration Board shall, unless Cummins directs or consents otherwise, be composed of directors at least a majority of which are Cummins Designees; <u>provided</u> that the appointment and service of the Cummins Designees on any committee of the Filtration Board shall comply with the applicable director independence requirements under applicable Law, after taking into account all available "controlled company" exemptions under the rules of the stock exchange on which Filtration's shares are listed. As of the Effective Date and at all times until such time as the Cummins Group Beneficially Owns shares of Filtration Common Stock representing, in the aggregate, less than a majority but at least 10% of the total voting power of the then outstanding Filtration Voting Stock, each committee of the Filtration Board shall, unless Cummins directs or consents otherwise, include at least one Cummins Designee; <u>provided</u> that the appointment and service of the Cummins Designees on any committee of the Filtration Board shall comply with the applicable director independence requirements under applicable Law.

Section 7.5 <u>Other Covenants</u>. In addition to the other covenants contained in this Agreement and the Ancillary Agreements, Filtration hereby covenants and agrees that, until the Disposition Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Restrictions on Transfer</u>. Filtration shall not, without the prior written consent of Cummins, take, or cause to be taken, directly or indirectly, any action, including making or failing to make any election under the Law of any state, which has the effect, directly or indirectly, of restricting or limiting the ability of Cummins to freely sell, transfer, assign, pledge or otherwise dispose of shares of Filtration Common Stock or would restrict or limit the rights of any transferee of Cummins as a holder of Filtration Common Stock. Without limiting the generality of the foregoing, Filtration shall not, without the prior written consent of Cummins, (i) adopt or thereafter amend, supplement, restate, modify or alter any stockholder rights plan in any manner that would result in (A) an increase in the ownership of Filtration Common Stock by Cummins causing the rights thereunder to detach or become exercisable or (B) Cummins and its transferees not being entitled to the same rights thereunder as other holders of Filtration Common Stock; or (ii) take any action, or take any action to recommend to its stockholders any action, which would, among other things, limit the legal rights of, or deny any benefit to, Cummins as a Filtration stockholder either (1) solely as a result of the amount of Filtration Common Stock owned by Cummins or (2) in a manner not applicable to Filtration stockholders generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Maintenance of Cummins Ownership Position</u>. Except with respect to [●] shares of Filtration Common Stock approved by the Filtration Board (or a committee thereof) and its stockholder pursuant to the Atmus Filtration Technologies Inc. 2022 Omnibus Incentive Plan and Section 4.3 of the Employee Matters Agreement, Filtration shall not, without the prior written consent of Cummins, issue any Filtration Securities; <u>provided</u>, <u>however</u>, that in no case shall any issuance (including any issuance of Filtration Securities pursuant to the Atmus Filtration Technologies Inc. 2022 Omnibus Incentive Plan or any other benefit plans or arrangements approved by the Filtration Board) result in Cummins owning, whether Beneficially Owning or in any other respect, directly or indirectly less than (i) a majority of the outstanding shares of Filtration Common Stock or (ii) 80% of the total voting power of the then outstanding Filtration Voting Stock. Prior to the Disposition Date, Filtration shall not, without the prior written consent of Cummins, issue any share of Filtration Non-Voting Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Compliance with Certain Contracts</u>. To the extent that Cummins is a party to any Contracts that provide that certain actions or inactions of Cummins Affiliates (which for purposes of such Contract include any member of the Filtration Group) may result in Cummins being in breach of or in default under such Contracts and Cummins has advised Filtration of the existence, and has furnished Filtration with copies, of such Contracts (or the relevant portions thereof), Filtration shall not take or fail to take, as applicable, and Filtration shall cause the other members of the Filtration Group not to take or fail to take, as applicable, any actions that would or could reasonably be expected to result in Cummins being in breach of or in default under any such Contract. The Parties acknowledge and agree that, from time to time, Cummins may in good faith enter into additional Contracts or amendments to existing Contracts that provide that certain actions or inactions of Cummins Subsidiaries or Affiliates (including, for purposes of this <u>Section 7.5(c)</u>, members of the Filtration Group) may result in Cummins being in breach of or in default under such Contracts. Cummins shall promptly provide Filtration with notice of such additional Contracts or amendments to existing Contracts. In such event, Filtration shall not thereafter take or fail to take, as applicable, and Filtration shall cause the other members of the Filtration Group not to take or fail to take, as applicable, any actions that would or could reasonably be expected to result in Cummins being in breach of or in default under any such additional Contracts or amendments to existing Contracts. Cummins acknowledges and agrees that Filtration shall not be deemed in breach of this <u>Section 7.5(c)</u> to the extent that, prior to being notified by Cummins of an additional Contract or an amendment to an existing Contract pursuant to this <u>Section 7.5(c)</u>, a Filtration Group member already has taken or failed to take one or more actions that would otherwise constitute a breach of this <u>Section 7.5(c)</u> had such action(s) or inaction(s) occurred after such notification; <u>provided</u> that Filtration does not, after notification by Cummins, take any further action or fail to take any action that contributes further to such breach or default. Filtration agrees that any Information provided to it pursuant to this <u>Section 7.5(c)</u> will constitute Information that is subject to Filtration's obligations under <u>Article VI</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Prohibition on Certain Contracts</u>. No member of the Filtration Group shall enter into any Contract that purports to bind or impose any obligations or Liabilities (including any non-competition, exclusivity, non-solicitation or similar obligations) on any member of the Cummins Group (or any director, officer or employee of any member of the Cummins Group).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Maintenance of Filtration Entities</u>. No member of the Filtration Group shall dissolve, liquidate or wind up, or consolidate or merge with or into any Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>No Amendments to Charter or Bylaws</u>. Filtration shall not alter, amend, terminate or repeal, or adopt any provision inconsistent with, in each case, whether directly or indirectly, or by merger, consolidation or otherwise, the Charter or the Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Covenants Related to Transition Services</u>. For the duration of the Transition Services Agreement (but only to the extent that the Services provided by Cummins under the Transition Services Agreement relate to making payments on Filtration's behalf, maintenance of books and records, or otherwise present, in Cummins's judgment, a potential risk to Cummins under any applicable anti-corruption Law):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Filtration shall not, and shall cause each other member of the Filtration Group not to, take any action directly or indirectly to (A) offer or pay, or authorize the offer or payment of, any money or anything of value, or (B) accept any payment referred to in clause (A), in each case, in order to improperly or corruptly seek to influence any Government Official or any other Person in order to gain an improper advantage;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Filtration shall, and shall cause each other member of the Filtration Group to, implement, maintain and enforce a compliance and ethics program in substance and form and effectiveness reasonably equivalent in all material respects to Cummins' compliance and ethics program, designed to prevent and detect violations of applicable anti-corruption Laws throughout its operations (including Subsidiaries) and the operations of its contractors and sub-contractors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Filtration shall, and shall cause each other member of the Filtration Group to, implement, maintain and enforce a system of adequate internal accounting controls designed to ensure the making and keeping of fair and accurate books, records and accounts.

Section 7.6 <u>Cummins Policies and Procedures</u>. Prior to the Disposition Date and except as (a) otherwise agreed between the Parties from time to time, (b) set forth on <u>Schedule 7.6</u> or (c) set forth in any Ancillary Agreement, Filtration shall consistently implement and maintain, in all material respects, Cummins' business practices and standards substantially in accordance with the Cummins' policies and procedures in effect as of the Effective Date, as the same may be amended or supplemented by Cummins from time to time (and, in any such event, Cummins shall provide notice to Filtration of any such amendment or supplement in accordance with <u>Section 10.6</u>). Notwithstanding the foregoing, Filtration may apply materiality thresholds that are lower than those contained in any such Cummins' policy and procedure. Notwithstanding any provisions of this <u>Section 7.6</u> to the contrary, in circumstances where a provision of the Charter or the Bylaws or any Ancillary Agreement, on the one hand, and a Cummins' policy applicable to Subsidiaries of Cummins, on the other hand, would each apply, the provision in the Charter or the Bylaws or the Ancillary Agreement shall control with respect to Filtration and its Subsidiaries. For the avoidance of doubt, it is understood and agreed that neither Cummins nor any member of the Cummins Group shall be subject to any policies or procedures implemented by Filtration, including any policies, procedures or limitations (other than any applicable Laws) with respect to trading in any Filtration Securities.

Section 7.7 <u>Covenants Regarding the Incurrence of Indebtedness</u>. From the Effective Date until the Disposition Date, Filtration shall not, and Filtration shall not permit any other member of the Filtration Group to, without Cummins's prior written consent, directly or indirectly, incur, or enter into any agreement or other arrangement pursuant to which it agrees to incur, any Filtration Debt Obligations other than pursuant to Filtration Financing Arrangements and such other unsecured and uncommitted lines of credit made available to members of the Filtration Group as of the Effective Date. Filtration shall notify Cummins in writing as promptly as practicable following the time it or any other member of the Filtration Group determines it wishes to incur any Filtration Debt Obligations for which Cummins's prior written consent is required.

Section 7.8 <u>Applicability of Rights in the Event of an Acquisition of Filtration</u>. In the event that Filtration merges into, consolidates, sells substantially all of its assets to or otherwise becomes an Affiliate of a Person (other than Cummins), pursuant to a transaction or series of related transactions in which Cummins or any member of the Cummins Group receives equity securities of such Person (or of any Affiliate of such Person) in exchange for Filtration Common Stock held by Cummins or any member of the Cummins Group, all of the rights of Cummins set forth in this <u>Article VII</u> shall continue in full force and effect and shall apply to the Person the equity securities of which are received by Cummins pursuant to such transaction or series of related transactions (it being understood that all other provisions of this Agreement shall apply to Filtration notwithstanding this <u>Section 7.8</u>). Without limiting <u>Section 7.5(e)</u>, Filtration shall not enter into any Contract which would have the effect set forth in the first clause of the preceding sentence, unless such Person agrees to be bound by the foregoing provision.

Section 7.9 <u>Transfer of Cummins's Rights Under Article VII</u>. Cummins may transfer all or any portion of its rights under this <u>Article VII</u> to a transferee of any Filtration Common Stock from any member of the Cummins Group (a "<u>Cummins Transferee</u>") holding at least 10% of the voting power of all of the outstanding shares of Filtration Voting Stock. Cummins shall give written notice to Filtration of its transfer of rights under this <u>Article VII</u> no later than thirty (30) days after Cummins enters into a binding agreement for such transfer of rights. Such notice shall state the name and address of the Cummins Transferee and identify the amount of Filtration Common Stock transferred and the scope of rights being transferred under this <u>Article VII</u>. In connection with any such transfer, the term "Cummins" as used in this <u>Article VII</u> shall, where appropriate to give effect to the assignment of rights and obligations hereunder to such Cummins Transferee, be deemed to refer to such Cummins Transferee. Cummins and any Cummins Transferee may exercise the rights under this <u>Article VII</u> in such priority, as among themselves, as they shall agree upon among themselves, and Filtration shall observe any such agreement of which it shall have notice as provided above.

**Article VIII<u><br> DISPUTE RESOLUTION</u>**

Section 8.1 <u>Negotiation</u>. In the event of any controversy, dispute or Action arising out of, in connection with, or related to the this Agreement or any Ancillary Agreement, or the transactions contemplated hereby or thereby, including any Action based on contract, tort, statute or constitutional interpretation, any Party's or its Group member's performance, nonperformance, and the validity or any Party's or its applicable Group member's breach of this Agreement or any Ancillary Agreement (collectively, "<u>Disputes</u>"), the general counsels of the Parties (or such other individuals designated by the respective general counsels) or the executive officers designated by the Parties shall negotiate for a reasonable period of time to settle such Dispute; <u>provided</u> that such reasonable period shall not, unless otherwise agreed by the Parties in writing, exceed sixty (60) days (the "<u>Negotiation Period</u>") from the time of receipt by a Party of written notice of such Dispute ("<u>Dispute Notice</u>").

Section 8.2 <u>Mediation; Further Remedies</u>. If a Dispute has not been resolved pursuant to <u>Section 8.1</u> for any reason by the expiration of the Negotiation Period, then the Parties shall submit such Dispute to mediation conducted in accordance with the Commercial Mediation Procedures of the American Arbitration Association ("<u>AAA</u>") as then in effect. For such mediation, the Parties shall agree to select one mediator from the AAA's Panel of Mediators; <u>provided</u>, <u>however</u>, that if the Parties are unable to agree on a single, mutually agreeable mediator within thirty (30) days following the submission of the Dispute to the AAA, then the AAA shall select the mediator from the AAA's Panel of Mediators. The mediation shall take place in a forum or medium agreed upon by the general counsels of the Parties (or such other individuals designated by the respective general counsels) or the executive officers designated by the Parties. Either Party at the commencement of the mediation may ask the mediator to provide to the Parties in attendance the mediator's summary and evaluation of the Dispute and the Parties' relative positions. A mediator appointed pursuant to this <u>Section 8.2</u> may consolidate a mediation under this Agreement with any mediation arising under or relating to the Ancillary Agreements or any other agreement between the Parties entered into pursuant hereto, as the case may be, if the subject of the Disputes thereunder arises out of or relates essentially to the same set of facts or transactions. Such consolidated mediation shall be determined by the mediator appointed first in time. If a Dispute has not been resolved by mediation within sixty (60) days following the selection and appointment of a mediator in accordance with this <u>Section 8.2</u>, then either Party shall be entitled to pursue such remedies as may be available to it at law or equity otherwise in accordance with the terms of this Agreement.

Section 8.3 <u>Interim Relief</u>. Notwithstanding anything to the contrary in <u>Section 8.1</u> or <u>Section 8.2</u>, each Party shall have the right to obtain any injunction, attachment, interim or conservatory measure or other order or equitable remedy from a court of competent jurisdiction in aid of negotiation, mediation or final resolution of a Dispute ("<u>Interim Relief</u>"). The Parties shall exclusively submit any application for Interim Relief in accordance with <u>Section 10.17</u>.

Section 8.4 <u>Specific Performance</u>. From and after the Effective Date, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement or any Ancillary Agreement, the Parties agree that the Party or Parties to this Agreement or such Ancillary Agreement who are or are to be thereby aggrieved shall, subject and pursuant to the terms of this <u>Article VIII</u> (including, for the avoidance of doubt, after compliance with all notice and negotiation provisions herein but subject to rights to any Interim Relief), have the right to specific performance and injunctive or other equitable relief of its or their rights under this Agreement or such Ancillary Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that, from and after the Effective Date, the remedies at law for any breach or threatened breach of this Agreement or any Ancillary Agreement, including monetary damages, are inadequate compensation for any Indemnifiable Loss, that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any requirements for the securing or posting of any bond with such remedy are hereby waived.

Section 8.5 <u>Confidentiality; Settlements; Defenses</u>. The Parties agree that any Disputes shall be kept confidential, and that the existence of any negotiations or mediations pursuant to <u>Section 8.1</u> and <u>Section 8.2</u>, and all elements (including any pleadings, briefs or other documents submitted or exchanged, any testimony or other oral submissions, and any awards) of and communications made during or in furtherance of any such negotiations or mediations, shall be deemed inadmissible in any proceeding and confidential, and shall not be disclosed beyond the AAA (to the extent necessary for appointing a meditator pursuant to <u>Section 8.2</u>), the applicable mediator appointed pursuant to <u>Section 8.2</u>, the Parties, their counsel, and any Person necessary to the conduct of the negotiations or mediations, in each case except as and to the extent required by Law or to defend or pursue any legal right to the extent otherwise permitted by <u>Article VI</u>. In the event any Party makes application to any court in connection with <u>Section 8.2</u>, <u>Section 8.3</u> or <u>Section 8.4</u> (including any proceedings to enforce a final award or any Interim Relief), then each Party shall take all steps reasonably within its power to maintain and protect the confidentiality of, and receive confidential treatment for, any information or communications (including trade secrets; sensitive proprietary information; sensitive financial, business, or personnel information) to the fullest extent permitted under applicable court rule, including by causing such application and any exhibits to be filed under seal, opposing any challenge by any third party to review such information or unseal any filings, and giving the other Party notice of any such challenge as soon as practicable. The settlement of any Dispute pursuant to this <u>Article VIII</u> and communications made during or in furtherance of any such settlement shall be confidential, and no written or oral communications or offers made by the Parties or their representatives during such settlement negotiations pursuant to this <u>Article VIII</u> shall be admissible for any purpose in any proceeding, including any mediation pursuant to <u>Section 8.2</u>; <u>provided further</u>, that, in the event of any mediation in accordance with <u>Section 8.2</u>, any Interim Relief sought pursuant to <u>Section 8.3</u>, or any other proceeding, the Parties and their respective Group Members shall not assert, and hereby waive, any defense of statute of limitations or laches to the extent based on the passage of time during the period beginning after the date of receipt of the Dispute Notice, and any contractual time period or deadline under this Agreement or any Ancillary Agreement to which such Dispute relates that occurs after the Dispute Notice is received shall not be deemed to have passed until such Dispute has been resolved.

Section 8.6 <u>Continuity of Service and Performance</u>. Unless otherwise agreed in writing, the Parties shall continue to provide service and honor all other commitments under this Agreement and each Ancillary Agreement during the course of any Dispute resolution pursuant to the provisions of this <u>Article VIII</u> with respect to all matters not subject to such Dispute resolution.

**Article IX<u><br> INSURANCE</u>**

Section 9.1 <u>Insurance Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Access to Cummins Shared Policies</u>. From and after the Effective Time and until the Disposition Date, Filtration and the other members of the Filtration Group shall continue to be insured on the terms, and subject to the limits under, the Cummins Shared Policies and no other Policies of any Cummins Group member and shall be entitled to receive coverage to the extent permitted under the applicable Cummins Shared Policies, with such insurance and coverage subject to the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Filtration shall notify Cummins in writing of any potential claim by any member of the Filtration Group under any of the Cummins Shared Policies within a reasonable period after the claim event (and in any case no later than thirty (30) days after such event), and Cummins shall determine whether and, if so, when and how, to report any such claim to the applicable insurer, and whether and, if so, when and how, to pursue coverage for such claim, and Cummins shall provide a copy of all notices to such insurers to Filtration, <u>provided</u> that, with respect to each such claim, (A) Filtration shall timely provide Cummins with all relevant information and documents within any Filtration Group member's possession, custody or control regarding the claim and otherwise reasonably cooperate, and cause each other Filtration Group member to reasonably cooperate, with respect to the pursuit of coverage from any applicable insurer and (B) without limiting Cummins's discretion with respect to such claim, Cummins shall consult with Filtration with regard to the timing of the reporting and submission of such claim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If and to the extent that members of the Filtration Group are the sole entities recovering insurance proceeds under one or more of the Cummins Shared Policies, as applicable, in respect of a particular claim for coverage, Filtration shall exclusively bear and be responsible for and pay the applicable insurers or Cummins as required under the applicable Cummins Shared Policies any and all costs as a result of having access to, or making claims under, such Cummins Shared Policies, including any deductibles and self-insured retention associated with such claims, claim handling and administrative costs, collateral requirements and costs, Taxes, surcharges, premiums, state assessments, reinsurance costs, and other related costs, relating to all open, closed or re-opened claims covered by the applicable Cummins Shared Policies, whether such claims are made by Filtration, another member of the Filtration Group, any employee of the Filtration Group or any other Person, and Filtration shall indemnify any Cummins Indemnitees for any such costs incurred by any Cummins Indemnitees to the extent resulting from any access to, or any claims made by a member of the Filtration Group under, any Cummins Shared Policies pursuant to this <u>Section 9.1(a)</u>. If Cummins and Filtration jointly make a claim for coverage under the Cummins Shared Policies for amounts that have been or may in the future be incurred partially by the Cummins Group and partially by the Filtration Group, then, at the reasonable discretion of Cummins, any insurance recovery resulting therefrom may first be allocated to reimburse the Cummins Group or the Filtration Group, as applicable, for their respective costs, legal and consulting fees, and other out-of-pocket expenses incurred in pursuing such insurance recovery, with the remaining net proceeds from the insurance recovery to be allocated as between Cummins and Filtration in a manner at the reasonable discretion of Cummins;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Filtration shall exclusively bear and be liable for (and no member of the Cummins Group shall have any obligation to repay or reimburse any member of the Filtration Group for) all self-insured retentions or uninsured, uncovered, unavailable or uncollectible amounts, incurred from and after the Effective Time, for every and all such claims for which coverage is pursued by Filtration or any other Filtration Group member under any Cummins Shared Policies as provided for in this <u>Section 9.1(a)</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In connection with the making of any joint claim by any member of the Filtration Group with any member of the Cummins Group under any Cummins Shared Policy pursuant to this Section 9.1(a), Cummins shall control the administration of all such claims, including the timing of any assertion and pursuit of coverage, and Filtration shall not, and shall cause each other member of the Filtration Group not to, take any action that would be reasonably likely to (A) have an adverse impact on the then-current relationship between the Cummins Group and the applicable insurer; (B) result in the applicable insurer terminating or reducing coverage to the Cummins Group or the Filtration Group, or increasing the amount of any premium owed by Cummins under the applicable Cummins Shared Policies; (C) otherwise compromise, jeopardize or interfere with the rights of any Cummins Group member under the applicable Cummins Shared Policies; or (D) otherwise compromise or impair Cummins's or any other Cummins Group member's ability to enforce its rights with respect to any indemnification under or arising out of this Agreement, and Cummins shall have the right, in its discretion, to cause any Filtration Group member to desist from any action that Cummins determines, in its discretion, would compromise or impair any Cummins Group member's rights in accordance with this clause (D). With respect to such joint claims, at all times, Cummins and Filtration shall, subject to the limitations set forth in <u>Section 6.5</u>, cooperate with reasonable requests for information by the other Party or the insurers regarding any such insurance policy claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Director and Officer Coverage</u>. From and after the Effective Time, (i) no director, officer, agent or employee of Filtration or any other member of the Filtration Group who served, or continues to serve after the Effective Time, as a director, officer, agent or employee of Cummins or any other member of the Cummins Group shall be entitled to pursue coverage under the director and officer liability insurance Policies maintained by Cummins or any member of the Cummins Group (collectively, "<u>Cummins D&O Insurance Policies</u>") unless such director, officer, agent or employee was acting in his or her respective capacity as a director, officer, agent or employee of Cummins or any other member of the Cummins Group in respect of the alleged acts or omissions for which such director, officer, agent or employee seeks coverage and then only to the extent that such Cummins D&O Insurance Policies provide such coverage and otherwise subject to the terms and conditions of such Cummins D&O Insurance Policies and <u>Section 9.1(a)(i)</u> through <u>(a)(iv)</u> applied *mutatis mutandis* to the Cummins D&O Insurance Policies, and (ii) no director, officer, agent or employee of Filtration or any other member of the Filtration Group shall otherwise be entitled to pursue any coverage under any Cummins D&O Insurance Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Payment of Expenses</u>. Any payments, costs and adjustments required pursuant to <u>Section 9.1(a)</u> shall, at Cummins's election, either be billed by Cummins to Filtration on a monthly basis and Filtration shall pay such billed payments, costs and adjustments to Cummins within sixty (60) days from receipt of invoice, or billed directly by the applicable third party to Filtration. If Cummins incurs costs to enforce Filtration's obligations under this <u>Section 9.1</u>, Filtration agrees to indemnify Cummins for such enforcement costs, including reasonable attorneys' fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Self Insurance; Captive Insurance</u>. Notwithstanding any provision of this Agreement to the contrary, except to the extent expressly provided pursuant to a Cummins Shared Policy pursuant to <u>Section 9.1(a)</u>, from and after the Effective Time, neither Filtration nor any member of the Filtration Group shall have any rights or claims against or with respect to any self-insurance or captive insurance company arrangement of Cummins or any member of the Cummins Group. Subject to immediately preceding sentence, as of the Effective Time, Filtration, for itself and each other member of the Filtration Group does hereby remise, release and forever discharge any rights or claims against Cummins and the other members of the Cummins Group with respect to any self-insurance or captive insurance company arrangement of Cummins or any other member of the Cummins Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Required Insurance at the Effective Time and the Disposition Date</u>. Notwithstanding any provision of this <u>Section 9.1</u> to the contrary, (i) at the Effective Time, Filtration shall have in effect (A) all Policies required for the Filtration Group members to comply with their respective obligations under applicable Law to the extent such compliance is not achieved through access to the Cummins Shared Policies pursuant to <u>Section 9.1(a)</u> and (B) all Policies described in <u>Schedule 9.1(e)(i)</u>, and (ii) from and after the Disposition Date, (A) all coverage under all Cummins Shared Policies shall continue in force only for the benefit of Cummins Group members and not for the benefit of any Filtration Group member, (B) Filtration shall arrange for its own Policies covering all periods (whether prior to or following the Disposition Date) and agrees not to seek, through any means, benefit from any of any Policies of any member of the Cummins Group or Cummins Shared Policy that may provide coverage for claims relating in any way to the Filtration Business or the Filtration Group and (C) Filtration shall have in effect all Policies required for the Filtration Group members to comply with their respective obligations under applicable Law or reasonably necessary to address the risks, liabilities and exposures of the Filtration Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>No Assignment</u>. This Agreement shall be considered neither an attempted assignment of any Policy, including any Cummins Shared Policy, in its entirety, nor itself a contract of insurance, and this Agreement is not intended to and does not waive any right or remedy of Cummins under or with respect to any of the Cummins Shared Policies or any other Policy, and Cummins reserves all of its rights under such Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Unreimbursed Claims</u>. Cummins shall not be liable to any Filtration Group member for claims not reimbursed by insurers for any reason not within the control of Cummins, including coinsurance provisions, deductibles, quota share deductibles, exhaustion of aggregates, self-insured retentions, bankruptcy or insolvency of an insurance carrier, Cummins Shared Policy limitations or restrictions, any coverage disputes, any failure to timely claim by Cummins or any defect in such claim or its processing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Released Insurance Matters</u>. Notwithstanding any provisions of this <u>Section 9.1</u> to the contrary, to the extent Cummins has entered into or agrees to enter into, whether on its own or with respect to the any arrangement provided for under this <u>Section 9.1</u>, any settlement agreement or other arrangement with any insurance provider regarding coverage under any Cummins Shared Policy (collectively, the "<u>Released Insurance Matters</u>"), Filtration shall, and shall cause each of other member of the Filtration Group to, (i) abide by the terms of and, to the extent required, consent to, any such settlement or arrangement relating to the Released Insurance Matters as a condition to receiving any coverage under any Cummins Shared Policy, (ii) have no rights to any such coverage under any Cummins Shared Policies with respect to any Released Insurance Matters and (iii) make no claims under any Cummins Shared Policies with respect to any Released Insurance Matters.

Section 9.2 <u>Certain Matters Relating to Filtration's Organizational Documents</u>. From the Effective Time until the date that is six (6) years after the Disposition Date, the certificate of incorporation and bylaws of Filtration shall contain provisions no less favorable with respect to indemnification of directors and officers than those set forth in the Charter and Bylaws, which provisions shall not be amended, repealed or otherwise modified during such period in any manner that would affect adversely the rights thereunder of individuals who, at or prior to the Effective Time, were indemnified under the Charter or Bylaws, unless such amendment, repeal or other modification shall be required by Law and then only to the minimum extent required by Law or approved by Filtration's stockholders.

Section 9.3 <u>Indemnitor of First Resort</u>. As a result of agreements or obligations arising outside of this Agreement, certain of the directors and officers of Filtration and its Subsidiaries designated by Cummins or its Affiliates (the "<u>Cummins D&O Indemnitees</u>") have or will have rights to indemnification, advancement of expenses or insurance provided by Cummins or certain of its Affiliates (collectively, the "<u>Cummins Indemnitors</u>") in connection with their service as directors or officers of Filtration or its Subsidiaries. Notwithstanding any such rights to indemnification, advancement of expenses or insurance provided by any Cummins Indemnitor, following the Effective Time, (a) Filtration is the indemnitor of first resort, by which is meant, without limitation, that Filtration's obligations to the Cummins D&O Indemnitees are primary and any obligation of the Cummins Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by any Cummins D&O Indemnitee are secondary, (b) Filtration shall be required to advance the full amount of expenses incurred by the Cummins D&O Indemnitees and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement, any other agreement between Filtration and the Cummins D&O Indemnitees or the certificate of incorporation or bylaws of Filtration and (c) Filtration hereby irrevocably waives, relinquishes and releases each of the Cummins Indemnitors from any and all claims against any of the Cummins Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof, including under any Cummins D&O Insurance Policies. In addition, notwithstanding any advancement or payment by the Cummins Indemnitors to or on behalf of any Cummins D&O Indemnitee with respect to any claim for which a Cummins D&O Indemnitee has sought or may seek indemnification from Filtration, (i) Filtration's obligations hereunder shall not be affected, (ii) the Cummins Indemnitors shall have a right of contribution or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Cummins D&O Indemnitee, as applicable, against Filtration and (iii) for the avoidance of doubt, all damages, costs, losses and other Liabilities incurred by any Cummins D&O Indemnitee in connection with his or her service as a director or officer of Filtration or any of its Subsidiaries shall constitute Filtration Liabilities.

**Article X<u><br> MISCELLANEOUS</u>**

Section 10.1 <u>Entire Agreement; Construction</u>. This Agreement, including the Exhibits and Schedules hereto, and the Ancillary Agreements shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event of any inconsistency between this Agreement and any Schedule hereto, the Schedule shall prevail. In the event and to the extent that there shall be a conflict between the provisions of (a) this Agreement and the provisions of any Ancillary Agreement or Continuing Arrangement, such Ancillary Agreement or Continuing Arrangement shall control (except with respect to any Conveyancing and Assumption Instruments, in which case this Agreement shall control) and (b) this Agreement and any agreement which is not an Ancillary Agreement, this Agreement shall control unless expressly stated otherwise in such other agreement. For the avoidance of doubt, the Conveyancing and Assumption Instruments are intended to be ministerial in nature and only to effect the transactions contemplated by this Agreement with respect to the applicable local jurisdiction and shall not expand or modify the rights and obligations of the Parties or their Affiliates under this Agreement or any of the Ancillary Agreements that are not Conveyancing and Assumption Instruments.

Section 10.2 <u>Ancillary Agreements</u>. Except as expressly set forth herein (including <u>Section 10.1</u>), this Agreement is not intended to address, and should not be interpreted to address, the matters specifically and expressly covered by the Ancillary Agreements.

Section 10.3 <u>Counterparts</u>. This Agreement may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties.

Section 10.4 <u>Survival of Agreements</u>. Except as otherwise contemplated by this Agreement or any Ancillary Agreement, all covenants and agreements of the Parties contained in this Agreement and each Ancillary Agreement shall survive the Effective Time and remain in full force and effect in accordance with their applicable terms.

Section 10.5 <u>Expenses.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Allocation of Advisor Expenses</u>. Except as otherwise expressly provided in this Agreement or any Ancillary Agreement, or as otherwise agreed to in writing by the Parties, from and after the Effective Time, (i) all Transaction Taxes (subject to the Tax Matters Agreement) and out-of-pocket fees and expenses incurred at or prior to the Disposition Date by any member of the Cummins Group or the Filtration Group for third party accounting, consulting, advisor, banking or legal fees, costs or expenses in connection with, or as required by, the preparation, execution, delivery and implementation of this Agreement, any Ancillary Agreement and the IPO Registration Statement and the consummation of the Internal Reorganization, the Contribution, the Distribution and the IPO shall be borne and paid by Cummins, and (ii) all other fees and expenses incurred at or prior to the Effective Time by any member of the Cummins Group or the Filtration Group in connection with, or as required by, the preparation, execution, delivery and implementation of this Agreement, any Ancillary Agreement and the IPO Registration Statement and the consummation of the Internal Reorganization, the Contribution and the IPO shall constitute Filtration Liabilities and be borne and paid by Filtration; <u>provided</u>, <u>however</u>, that notwithstanding any provision of this Agreement to the contrary, all taxes, costs and expenses allocated as set forth on <u>Schedule 10.5(a)</u> shall be borne and paid by the responsible party noted thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Filtration Expenses Generally</u>. Except as set forth in <u>Section 10.5(a)</u> or to the extent such fees and expenses are incurred in connection with services expressly requested by Cummins in writing following the Effective Time, the Cummins Group shall have no responsibility for, and Filtration shall indemnify the Cummins Group in respect of, any fees and expenses incurred by any Filtration Group member or any Cummins Group member or otherwise allocated as Filtration Liabilities following the Effective Time in connection with, or as required by, the preparation, execution, delivery and implementation of this Agreement, any Ancillary Agreement and the IPO Registration Statement, and the consummation of the Internal Reorganization, the Contribution and the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Assignment Expenses</u>. Except as otherwise expressly provided in this Agreement or any Ancillary Agreement, or as otherwise agreed to in writing by the Parties, any costs and expenses incurred in obtaining any Consents or novation from a third party in connection with the assignment to or assumption by a Party or its Subsidiary of any Contracts in connection with the Internal Reorganization, the Contribution or the IPO shall be borne by the Party or its Subsidiary to which such Contract is being assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Additional Expenses</u>. Except as set forth in <u>Section 10.5(b)</u>, with respect to any expenses incurred pursuant to a request for further assurances granted under <u>Section 2.8</u>, the Parties agree that any and all fees and expenses incurred by either Party shall be borne and paid by the requesting Party; it being understood that no Party shall be obliged to incur any third party accounting, consulting, advisor, banking or legal fees, costs or expenses, and the requesting Party shall not be obligated to pay such fees, costs or expenses, unless such fee, cost or expense shall have had the prior written approval of the requesting Party. Notwithstanding the foregoing, each Party shall be responsible for paying its own internal fees, costs and expenses (*e.g.*, salaries of personnel).

Section 10.6 <u>Notices</u>. All notices, requests, claims, demands and other communications under this Agreement and, to the extent applicable and unless otherwise provided therein, under each of the Ancillary Agreements shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, or by facsimile or electronic mail with receipt confirmed (followed by delivery of an original via overnight courier service) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this <u>Section 10.6</u>):

To Cummins:

Cummins Inc.

500 Jackson Street,

Box 3005

Columbus, Indiana 47202-3005

Attn: General Counsel

Facsimile: [●]

Email: [●]

To Filtration:

Atmus Filtration Technologies Inc.

[●]

[●]

Attn: General Counsel

Facsimile: [●]

Email: [●]

Section 10.7 <u>Consents</u>. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party (and its Group). For this purpose, a Party may provide its written consent in the form of an email that expressly sets forth such consent and is delivered by the General Counsel of the Party giving such consent to the General Counsel of the Party requesting such consent.

Section 10.8 <u>Assignment</u>. This Agreement shall not be assignable, in whole or in part, directly or indirectly, whether by merger, operation of Law or otherwise, by any Party without the prior written consent of the other Party, and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding the foregoing, this Agreement shall be assignable to (a) with respect to Cummins, an Affiliate of Cummins, or (b) a bona fide third party in connection with a merger, reorganization, consolidation or the sale of all or substantially all the assets of a Party, so long as the resulting, surviving or transferee entity assumes all of the obligations of the relevant Party by operation of Law or pursuant to an agreement in form and substance reasonably satisfactory to the other Party to this Agreement; <u>provided</u>, <u>however</u> that, in the case of each of the preceding clauses (a) and (b), no assignment permitted by this <u>Section 10.8</u> shall release the assigning Party from liability for the full performance of its obligations under this Agreement.

Section 10.9 <u>Successors and Assigns</u>. The provisions of this Agreement and the obligations and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted assigns.

Section 10.10 <u>Termination and Amendment</u>. This Agreement may not be terminated, modified or amended except by an agreement in writing signed by Cummins and Filtration.

Section 10.11 <u>Payment Terms.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Payment Demand</u>. Except as set forth in <u>Article V</u> or as otherwise expressly provided to the contrary in this Agreement or in any Ancillary Agreement, any amount to be paid or reimbursed by a Party (or a member of such Party's Group), on the one hand, to the other Party (or a member of such Party's Group), on the other hand, under this Agreement shall be paid or reimbursed hereunder within sixty (60) days after presentation of an invoice or a written demand therefor and setting forth, or accompanied by, reasonable documentation or other reasonable explanation supporting such amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Late Payments</u>. Except as set forth in <u>Article V</u> or as otherwise expressly provided to the contrary in this Agreement or in any Ancillary Agreement, any amount not paid when due pursuant to this Agreement (and any amount billed or otherwise invoiced or demanded and properly payable that is not paid within sixty (60) days of such bill, invoice or other demand) shall bear interest at a rate per annum equal to the Prime Rate, from time to time in effect, calculated for the actual number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Currency</u>. Without the written consent of the Party receiving any payment under this Agreement specifying otherwise, all payments to be made by either Cummins or Filtration under this Agreement shall be made in United States Dollars. Except as expressly provided herein, any amount which is not expressed in United States Dollars shall be converted into United States Dollars by using the exchange rate published on Bloomberg at 5:00 pm Eastern Standard time (EST) on the day before the relevant date or in the Wall Street Journal on such date if not so published on Bloomberg. Except as expressly provided herein, in the event that any indemnification payment required to be made hereunder or under any Ancillary Agreement may be denominated in a currency other than United States Dollars, the amount of such payment shall be converted into United States Dollars on the date on which notice of the claim is given to the Indemnifying Party.

Section 10.12 <u>Subsidiaries</u>. Each of the Parties shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party at and after the Effective Time, to the extent such Subsidiary remains a Subsidiary of the applicable Party.

Section 10.13 <u>Third Party Beneficiaries</u>. Except (a) as provided in <u>Article V</u> relating to Indemnitees and for the release under <u>Section 5.1</u> of any Person provided therein and (b) as expressly provided in any Ancillary Agreement, this Agreement is solely for the benefit of the Parties and should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement.

Section 10.14 <u>Title and Headings</u>. Titles and headings to sections herein are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

Section 10.15 <u>Exhibits and Schedules</u>. The Exhibits and Schedules shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. Nothing in the Exhibits or Schedules constitutes an admission of any liability or obligation of any member of the Cummins Group or the Filtration Group or any of their respective Affiliates to any third party, nor, with respect to any third party, an admission against the interests of any member of the Cummins Group or the Filtration Group or any of their respective Affiliates. The inclusion of any item or liability or category of item or liability on any Exhibit or Schedule is made solely for purposes of allocating potential liabilities among the Parties and shall not be deemed as or construed to be an admission that any such liability exists.

Section 10.16 <u>Governing Law</u>. This Agreement and any dispute arising out of, in connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof.

Section 10.17 <u>Submission to Jurisdiction</u>. With respect to any Action relating to or arising out of this Agreement, subject to the provisions of <u>Article VIII</u>, each Party irrevocably (a) consents and submits to the exclusive jurisdiction of the courts of the State of Delaware and any court of the United States located in the State of Delaware; (b) waives any objection which such Party may have at any time to the laying of venue of any Action brought in any such court, waives any claim that such Action has been brought in an inconvenient forum and further waives the right to object, with respect to such Action, that such court does not have jurisdiction over such Party; and (c) consents to the service of process at the address set forth for notices in <u>Section 10.6</u>; <u>provided</u>, <u>however</u>, that such manner of service of process shall not preclude the service of process in any other manner permitted under applicable Law.

Section 10.18 <u>Waiver of Jury Trial</u>. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 10.18</u>.

Section 10.19 <u>Severability</u>. In the event any one or more of the provisions contained in this Agreement or any Ancillary Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

Section 10.20 <u>Public Announcements</u>. From and after the Effective Time, Cummins and Filtration shall consult with each other before issuing, and give each other the opportunity to review and comment upon, that portion of any press release or other public statements that relates to the transactions contemplated by this Agreement or the Ancillary Agreements, and shall not issue any such press release or make any such public statement prior to such consultation, except (a) as may be required by applicable Law, court process or by obligations pursuant to any listing agreement with any national securities exchange; (b) for disclosures made that are substantially consistent with disclosure contained in any IPO Disclosure Document; or (c) as may pertain to disputes between one Party or any member of its Group, on one hand, and the other Party or any member of its Group, on the other hand.

Section 10.21 <u>Interpretation</u>. The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted.

Section 10.22 <u>No Duplicative Recovery</u>. Nothing in this Agreement is intended to confer to or grant any Party a duplicative recovery to the extent multiple recoveries are based the same facts and circumstances pursuant to this Agreement by virtue of any provision contained in this Agreement or any Ancillary Agreement., including pursuant to the rights, entitlements, obligations and recoveries that may arise out of <u>Section 5.2</u> through <u>Section 5.4</u>, and would constitute a windfall to the recovering Party under applicable Law.

Section 10.23 <u>Certain Tax Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Tax Treatment of Payments</u>. Unless otherwise required by a Final Determination, this Agreement or the Tax Matters Agreement or otherwise agreed to among the Parties, for United States federal Tax purposes, any payment made pursuant to this Agreement (other than any payment of interest pursuant to <u>Section 10.11</u>) by (i) Filtration to Cummins shall be treated for all Tax purposes as a distribution by Filtration to Cummins with respect to stock of Filtration occurring on or immediately before the Effective Date; or (ii) Cummins to Filtration shall be treated for all Tax purposes as a tax-free contribution by Cummins to Filtration with respect to its stock occurring on or immediately before the Effective Date; and in each case, no Party shall take any position inconsistent with such treatment. In the event that a Taxing Authority asserts that a Party's treatment of a payment pursuant to this Agreement should be other than as set forth in the preceding sentence, such Party shall use its commercially reasonable efforts to contest such challenge. Notwithstanding the foregoing, Cummins shall notify Filtration if it determines that any payment made pursuant to this Agreement is to be treated, for any Tax purposes, as a payment made by one Party acting as an agent of one of such Party's Subsidiaries to the other Party acting as an agent of one of such other Party's Subsidiaries, and the Parties agree to treat any such payment accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Intercompany Amounts; Intercompany Loans; Cash Equivalents</u>. Notwithstanding anything herein to the contrary, Cummins and Filtration agree to use commercially reasonable efforts to mitigate any adverse Tax consequence to one of the relevant Parties or any of their respective Affiliates or Group members, whether considered individually or collectively with the relevant Party, that either Party reasonably determines could arise in connection with the settlement, transfer or other disposition of (i) an Intercompany Amount or a intercompany loan, including any promissory notes, pursuant to <u>Section 2.4</u> or (ii) a Cash Equivalent pursuant to <u>Section 2.13</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Tax Treatment of Shared Contracts and Deferred Transfers</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To the extent permitted by applicable Law, each of Cummins and Filtration shall, and shall cause the members of its Group and its Affiliates to, treat for all Tax purposes (A) with respect to any Shared Contract, the portion of each Shared Contract inuring to its respective Businesses as Assets owned by, or Liabilities of, as applicable, such Person as of the earlier of the Effective Time or date on which the rights and benefits of such Shared Contract are assigned, if so assignable, or appropriately amended, and the portion of any and all Taxes relating to, arising out of, by reason of or otherwise in connection with the operation of its respective Businesses thereafter as Taxes of, as applicable, such Person as of such date and (B) with respect to any Deferred Transfer, the deferred Assets as Assets having been Transferred to and owned by the Person entitled to such Assets on the earlier of the Effective Date or the effective date of the applicable Conveyancing and Assumption Instrument and the deferred Liabilities as Liabilities having been Assumed and owned by the Person intended to be subject to such Liabilities on the earlier of the Effective Date or the effective date of the applicable Conveyancing and Assumption Instrument, and the portion of any and all Taxes relating to, arising out of, by reason of or otherwise in connection with the operation of its respective Businesses thereafter as Taxes of, as applicable, such Person as of such date, ((A) and (B) collectively, the "<u>Intended Tax Treatment</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Cummins and Filtration shall, and shall cause the members of its Group and its Affiliates to, (A) neither report nor take any Tax position (on a Tax Return, in a Tax proceeding or otherwise) inconsistent with the Intended Tax Treatment and (B) apply the Intended Tax Treatment for purposes of determining all matters relating to Taxes and Tax Returns of the respective Groups, such Group's members and such Group's Affiliates, and the rights and obligations of the respective Groups, such Group's members and such Group's Affiliates with respect to Taxes, in accordance with the provisions of the Tax Matters Agreement, in each case, unless otherwise required by applicable Law or a Final Determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If either Cummins or Filtration (or a member or Affiliate of such Party's Group), becomes liable for any Taxes relating to, arising out of, by reason of or otherwise in connection with the other Party (or a member or Affiliate of such other Party's Group) reporting or taking any Tax position (on a Tax Return, in a Tax proceeding or otherwise) that is inconsistent with the Intended Tax Treatment for any reason (the Party, Group member or Affiliate with such Tax liability, the "<u>Affected Member</u>", and such reporting Party, Group member or Affiliate, the "<u>Reporting Member</u>"), the Reporting Member shall pay or reimburse the Affected Member for any and all Taxes (other than Transaction Taxes) paid or incurred by the Affected Member relating to, arising out of, by reason of or otherwise in connection with such Reporting Member's reporting or taking a Tax position (on a Tax Return, in a Tax proceeding or otherwise) that is inconsistent with the Intended Tax Treatment (such Taxes, "<u>Reporting-Related Taxes</u>"). For the avoidance of doubt, the purpose of the preceding sentence is to put the Affected Member in the same position it would have been in under the Tax Matters Agreement had the relevant rights and obligations under Shared Contracts been assigned as of the earlier of the Effective Time or the date on which the rights and benefits of such Shared Contract are assigned, if so assignable, or appropriately amended, and any Deferred Transfer occurred on the earlier of the Effective Date or the effective date of the applicable Conveyance and Assignment Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event and to the extent that there shall be a Dispute under this Agreement relating to Taxes, the dispute resolution provisions of the Tax Matters Agreement shall control the administration, management and resolution of such Dispute.

Section 10.24 <u>No Waiver</u>. No failure to exercise and no delay in exercising on the part of any Party of any right, remedy, power or privilege hereunder or under any Ancillary Agreement shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

Section 10.25 <u>No Admission of Liability</u>. The allocation of Assets and Liabilities herein (including on the Schedules hereto) is solely for the purpose of allocating such Assets and Liabilities between Cummins and Filtration and is not intended as an admission of liability or responsibility for any alleged Liabilities vis-à-vis any third party, including with respect to the Liabilities of any non-wholly owned subsidiary of Cummins or Filtration.

Section 10.26 <u>Advisors</u>. It is acknowledged and agreed by each of the Parties that Cummins, on behalf of itself and the other members of the Cummins Group, has retained each of the Persons identified on <u>Schedule 10.26</u> to act as outside legal counsel in connection with this Agreement, the Ancillary Agreements, the Internal Reorganization, the Contribution, the IPO and the other transactions contemplated hereby and thereby and that the Persons listed on <u>Schedule 10.26</u> have not acted as counsel for Filtration or any other member of the Filtration Group in connection with this Agreement, the Ancillary Agreements, the Internal Reorganization, the Contribution, the IPO or the other transactions contemplated hereby and thereby and that none of Filtration or any member of the Filtration Group has the status of a client of the Persons listed on <u>Schedule 10.26</u> for conflict of interest or any other purposes as a result thereof. Filtration hereby agrees, on behalf of itself and each other member of the Filtration Group that, in the event that a dispute arises after the Effective Time in connection with this Agreement, the Ancillary Agreements, the Internal Reorganization, the Contribution, the IPO or any of the other transactions contemplated hereby and thereby between Cummins and Filtration or any of the members of their respective Groups, each of the Persons listed on <u>Schedule 10.26</u> may represent any or all of the members of the Cummins Group in such dispute even though the interests of the Cummins Group may be directly adverse to those of the Filtration Group. Filtration further agrees, on behalf of itself and each other member of the Filtration Group that, with respect to this Agreement, the Ancillary Agreements, the Internal Reorganization, the Contribution, the IPO and the other transactions contemplated hereby and thereby, the attorney-client privilege and the expectation of client confidence belongs to Cummins or the applicable member of the Cummins Group and may be controlled by Cummins or such member of the Cummins Group and shall not pass to or be claimed by Filtration or any member of the Filtration Group. Without limiting the foregoing, Filtration acknowledges and agrees that Baker & McKenzie LLP and Foley & Lardner LLP is representing Cummins, and not Filtration, in connection with the transactions contemplated hereby.

Section 10.27 <u>Plan of Reorganization</u>. This Agreement constitutes a "plan of reorganization" within the meaning of Treas. Reg. Section 1.368-2(g).

[*Signature Page Follows*]

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above written.

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| |
|:---|
| CUMMINS INC. |
| By: |
| Name: |
| Title: |
| ATMUS FILTRATION TECHNOLOGIES INC. |
| By: |
| Name: |
| Title: |

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*[Separation Agreement]*

## Exhibit 10.2

**Exhibit 10.2**

Form of

TRANSITION SERVICES AGREEMENT

by and between

CUMMINS INC.

and

ATMUS FILTRATION TECHNOLOGIES INC.

Dated as of [●], 2023

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| **Article I DEFINITIONS** | **Article I DEFINITIONS** | 1 |
| Section 1.1 | Certain Defined Terms | 1 |
| **Article II SERVICES, ACCESS TO FACILITIES AND DURATION** | **Article II SERVICES, ACCESS TO FACILITIES AND DURATION** | 2 |
| Section 2.1 | Services | 2 |
| Section 2.2 | Access | 3 |
| Section 2.3 | Duration of Services and Access to Facilities | 4 |
| Section 2.4 | Additional Services and Access to Additional Facilities | 5 |
| Section 2.5 | Exception to Obligation to Provide Services or Access to Facilities | 6 |
| Section 2.6 | Standard of the Provision of Services or Access to Facilities | 6 |
| Section 2.7 | Change in Services or Access to Facilities | 6 |
| Section 2.8 | Subcontractors | 6 |
| Section 2.9 | Access Limitations and Prevention | 7 |
| **Article III COSTS AND DISBURSEMENTS** | **Article III COSTS AND DISBURSEMENTS** | 8 |
| Section 3.1 | Costs and Disbursements | 8 |
| Section 3.2 | No Right to Set-Off | 10 |
| **Article IV WARRANTIES AND COMPLIANCE** | **Article IV WARRANTIES AND COMPLIANCE** | 11 |
| Section 4.1 | Disclaimer of Warranties | 11 |
| Section 4.2 | Compliance with Laws and Regulations | 11 |
| **Article V LIABILITY AND INDEMNIFICATION** | **Article V LIABILITY AND INDEMNIFICATION** | 11 |
| Section 5.1 | Limitation of Liability | 11 |
| Section 5.2 | Indemnification | 12 |
| Section 5.3 | Consequential and Other Damages | 12 |
| Section 5.4 | Procedures | 12 |
| Section 5.5 | Exclusive Remedy | 12 |
| **Article VI TERMINATION** | **Article VI TERMINATION** | 13 |
| Section 6.1 | Termination | 13 |
| Section 6.2 | Effect of Termination | 14 |
| Section 6.3 | Force Majeure | 15 |
| **Article VII MANAGEMENT AND CONTROL** | **Article VII MANAGEMENT AND CONTROL** | 15 |
| Section 7.1 | Cooperation | 15 |
| Section 7.2 | Required Consents | 16 |
| Section 7.3 | Primary Points of Contact for Agreement | 16 |
| Section 7.4 | Steering Committee | 17 |
| Section 7.5 | Personnel | 17 |
| Section 7.6 | No Agency | 18 |

---

i

---

| | | |
|:---|:---|:---|
| Section 7.7 | Data Processing | 18.0 |
| **Article VIII MISCELLANEOUS** | **Article VIII MISCELLANEOUS** | 18.0 |

---

---

| | | |
|:---|:---|:---|
| Section 8.1 | Treatment of Confidential Information | 18 |
| Section 8.2 | Local Service Agreements; Joinder Agreements | 18 |
| Section 8.3 | Entire Agreement; Construction | 18 |
| Section 8.4 | Counterparts | 19 |
| Section 8.5 | Notices | 19 |
| Section 8.6 | Consents | 19 |
| Section 8.7 | No Waiver | 19 |
| Section 8.8 | Amendment | 19 |
| Section 8.9 | Assignment | 19 |
| Section 8.10 | Successors and Assigns | 20 |
| Section 8.11 | Payment Terms | 20 |
| Section 8.12 | Subsidiaries | 20 |
| Section 8.13 | Third Party Beneficiaries | 20 |
| Section 8.14 | Attorney-in-Fact | 20 |
| Section 8.15 | Titles and Headings | 20 |
| Section 8.16 | Schedules | 20 |
| Section 8.17 | Governing Law | 20 |
| Section 8.18 | Submission to Jurisdiction | 20 |
| Section 8.19 | Waiver of Jury Trial | 20 |
| Section 8.20 | Dispute Resolution | 20 |
| Section 8.21 | Severability | 20 |
| Section 8.22 | Interpretation | 20 |

---

---

| | |
|:---|:---|
| **List of Exhibits** |  |
| Exhibit A | Form of Invoice |
| Exhibit B | Form of Joinder Agreement |
| **List of Schedules** |  |
| Schedule 1.1(4) | Critical Filtration Services |
| Schedule 1.1(13) | Service Categories and Initial Service Category Cap |
| Schedule 2.1(a)-1 | Cummins-Provided Services |
| Schedule 2.1(a)-2 | Filtration-Provided Services |
| Schedule 2.1(b) | Pre-IPO Service Jurisdictions |
| Schedule 8.2(a) | Local Service Agreement Jurisdictions |
| Schedule 8.2(b) | Joinder Subsidiaries |

---

ii

**TRANSITION SERVICES AGREEMENT**

This TRANSITION SERVICES AGREEMENT (this "<u>Agreement</u>"), dated as of [●], 2023, is entered into by and between Cummins Inc. ("<u>Cummins</u>"), an Indiana corporation, and Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Filtration</u>"). "<u>Party</u>" or "<u>Parties</u>" means Cummins or Filtration, individually or collectively, as the case may be. Capitalized terms not defined in the context of which such terms are first used in this Agreement shall have the meanings assigned to such terms in <u>Section 1.1</u> or, if not assigned a meaning in <u>Section 1.1</u>, the meanings assigned to such terms in the Separation Agreement.

W I T N E S E T H:

WHEREAS, the Parties have entered into that certain Separation Agreement, dated as of [●], 2023 (the "<u>Separation Agreement</u>"); and

WHEREAS, pursuant to the Separation Agreement, certain services are to continue to be provided by the Cummins Group to the Filtration Group and by the Filtration Group to the Cummins Group after the Effective Date upon the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows:

**Article I<u><br> DEFINITIONS</u>**

Section 1.1 <u>Certain Defined Terms</u>. The following capitalized terms used but not otherwise defined in this Agreement shall have the meanings set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) "<u>Acquisition of Filtration</u>" means a transaction or a series of related transactions in which Filtration merges into, consolidates with, sells substantially all of its assets to or otherwise becomes an Affiliate of another Person (other than Cummins).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) "<u>COVID-19</u>" means SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof (or related or associated epidemics, pandemics or disease outbreaks) and any treatments, therapies or vaccines therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) "<u>COVID-19 Measures</u>" means any Law, guideline or recommendation by any Governmental Entity or industry group (including the World Health Organization) in connection with or in response to COVID-19, including with respect to quarantine, "shelter in place," "stay at home," workforce reduction, social distancing, shut down, closure, sequester, return to work, employment, human resources, customer/vendor engagement, real property or leased real property management, safety or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) "<u>Critical Filtration Services</u>" means, collectively, the Services designated on <u>Schedule 1.1(4)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) "<u>Cummins Provider</u>" means Cummins or a Provider that is a member of the Cummins Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) "<u>Filtration Provider</u>" means Filtration or a Provider that is a member of the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) "<u>Force Majeure</u>" means, with respect to a Party, an event beyond the reasonable control of such Party, including acts of God, accidents, storms, floods, other natural disasters, climate change, riots, fires, explosions, sabotage, civil commotion or civil unrest, interference by civil or military authorities, acts of war (declared or undeclared), armed hostilities, other national or international calamities, acts of terrorism, cyberattacks, failure or interruption of networks or energy sources, epidemics, pandemics (including COVID-19 and any COVID-19 Measures), action or inaction by, or orders of, any Governmental Entity or changes in applicable Law (including COVID-19 Measures).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) "<u>Fraud</u>" means actual common law fraud, and not constructive or imputed fraud, negligent misrepresentation or negligent omission, or any form of fraud premised on recklessness, negligence or similar theories, as determined by Delaware courts applying Delaware law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) "<u>Initial Service Category Cap</u>" shall have the meaning set forth on <u>Schedule 1.1(13)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) "<u>Provider</u>" means the Party or the member or members of such Party's Group providing a Service or access to a Facility under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) "<u>Recipient</u>" means the Party or the member or members of such Party's Group to whom a Service or access to a Facility is being provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) "<u>Recipient Indemnitees</u>" means, if the Recipient is a member of the Cummins Group, each of the Cummins Indemnitees, and if the Recipient is a member of the Filtration Group, each of the Filtration Indemnitees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) "<u>Service Categories</u>" means those "Cummins Service Categories" and "Filtration Service Categories" as applicable and set forth on <u>Schedule 1.1(13)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) "<u>Tax</u>" or "<u>Taxes</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) "<u>Taxing Authority</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) "<u>VAT</u>" shall have the meaning set forth in the Tax Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) "<u>Virus(es)</u>" means any computer instructions (a) that have a material adverse effect on the operation, security or integrity of a computing telecommunications or other digital operating or processing system or environment, including other programs, data, databases, computer libraries and computer and communications equipment, by altering, destroying, disrupting or inhibiting such operation, security or integrity; (b) that without functional purpose, self-replicate without manual intervention; or (c) that purport to perform a useful function but which actually perform either a destructive or harmful function, or perform no useful function and utilize substantial computer, telecommunications or memory resources.

**Article II<u><br> SERVICES, ACCESS TO FACILITIES AND DURATION</u>**

Section 2.1 <u>Services</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Generally</u>. Subject to the terms and conditions set forth in this Agreement, Cummins shall provide, or cause to be provided, to the Filtration Group all of the services described in <u>Schedule 2.1(a)-1</u> (as such Schedule may be amended from time to time pursuant to <u>Section 2.4</u>, the "<u>Cummins-Provided Services</u>"). Subject to the terms and conditions set forth in this Agreement, Filtration shall provide, or cause to be provided, to the Cummins Group all of the services described in <u>Schedule 2.1(a)-2</u> (as such Schedule may be amended from time to time pursuant to <u>Section 2.4</u>, the "<u>Filtration-Provided Services</u>", and collectively with the Cummins-Provided Services and any Additional Services, the "<u>Services</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Pre-IPO Services</u>. The Parties acknowledge and agree that (i) before the Effective Date, Cummins began providing, or caused the provision of, certain Cummins-Provided Services, and Filtration began providing, or caused the provision of, certain Filtration-Provided Services, following the consummation of transactions pursuant to the Internal Reorganization, including in the jurisdictions set forth on <u>Schedule 2.1(b)</u> (such Services, the "<u>Pre-IPO Services</u>"), and (ii) the provision of any Pre-IPO Services is subject to the terms and conditions of this Agreement, effective as of the commencement of such Pre-IPO Services, in each case consistent with the intent of the Parties (and their Affiliates) at the time the Services commenced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Excluded Services</u>. Notwithstanding anything to the contrary in this Agreement, any Schedule hereto, any Joinder Agreement, any Local Services Agreement, any other Ancillary Agreement or the Separation Agreement, the Parties acknowledge and agree that no Services shall be deemed to constitute, and no Provider shall be obligated to render, nor shall any Recipient be entitled to receive from any Provider, professional advice or opinions, whether with regard to Tax, legal, treasury, finance, accounting, employment or other business and financial matters, technical advice, information technology, the handling or addressing of environmental matters or any other matters. No Recipient shall rely on, or construe, any Service rendered by or on behalf of any Provider as such professional advice or opinions or technical advice, and no Provider shall have any Liability under this Agreement resulting from or otherwise relating to such reliance or construal.

Section 2.2 <u>Access</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Facilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Generally</u>. Subject to the terms and conditions set forth in this Agreement, Cummins shall provide, or cause to be provided, to the Filtration Group access to the facilities described in <u>Schedule 2.1(a)-1</u> (the "<u>Cummins-Provided Facilities</u>"). Subject to the terms and conditions set forth in this Agreement, Filtration shall provide, or cause to be provided, to the Cummins Group access to the facilities described in <u>Schedule 2.1(a)-2</u> (the "<u>Filtration-Provided Facilities</u>", and collectively with the Cummins-Provided Facilities and any Additional Facilities, the "<u>Facilities</u>"). Access to any Facilities pursuant to this <u>Section 2.2(a)</u> shall be in the nature of a limited non-exclusive license deemed to be granted by the applicable Provider subject to the terms and conditions of this Agreement and shall not create a leasehold, tenancy or other estate or possessory rights in any Recipient with respect to any of the Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Pre-IPO Facilities</u>. The Parties acknowledge and agree that (i) before the Effective Date, Cummins began providing, or caused the provision of, access to the Cummins-Provided Facilities, and Filtration began providing, or caused the provision of, access to the Filtration-Provided Facilities, following the consummation of transactions pursuant to the Internal Reorganization, including in the jurisdictions set forth on <u>Schedule 2.1(b)</u> (such Facilities, the "<u>Pre-IPO Facilities</u>"), and (ii) the provision of any access to Pre-IPO Facilities is subject to the terms and conditions of this Agreement, in each case effective as of the commencement of such access and consistent with the intent of the Parties (and their Affiliates) at the time access to the Pre-IPO Facilities commenced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Provider Access</u>. Subject to the terms and conditions set forth in this Agreement, without limiting the generality of <u>Section 7.1(a)</u>, to the extent reasonably requested in advance by the Provider, the Recipient shall, at its own expense, provide to the Provider reasonable access, on an as-needed basis, to the Recipient's personnel, equipment and office space, telecommunications and computer systems and any other assets and operations reasonably required for delivery of all or any part of the applicable Services or the provision of access to any Facility.

Section 2.3 <u>Duration of Services and Access to Facilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to <u>Section 6.1</u>, each of Cummins and Filtration shall provide, or cause to be provided, to the respective Recipients each Service or access to each Facility until the expiration of the period set forth next to such Service or Facility on the applicable Schedule or Joinder Agreement (the date of any such Service or Facility access expiration, and as such date may be amended pursuant to <u>Section 2.3(b)</u>, the "<u>Service Term</u>") or, if no such period is provided with respect to a particular Service or Facility on such Schedule, the applicable Service Term shall expire on the twenty-four (24)-month anniversary of the Effective Date, <u>provided</u> that notwithstanding anything in the Schedules, <u>Section 2.3(b)</u> or any Joinder Agreement to the contrary, (i) any Service Term for Pre-IPO Services or Pre-IPO Facilities access commences at the start of the provision of such service or access and then otherwise expires in accordance with the other terms and provisions of this Agreement, (ii) no Service Term shall extend beyond the Disposition Date for any Services or Facilities access required by applicable Law to end as of such date or otherwise denoted as a "Disposition Date Service" on the applicable Schedule (any Service or Facilities access under this clause (ii), a "<u>Disposition Date Service</u>") and (iii) no Service Term shall extend beyond earlier of (A) the twenty-four (24)-month anniversary of the date of the Disposition Date, if any, or (B) the thirty (30)-month anniversary of the Effective Date (the earlier of (A) or (B), the "<u>Term</u>"); <u>provided</u>, <u>however</u>, that, to the extent that a Cummins Provider's ability to provide a Cummins-Provided Service or access to a Cummins-Provided Facility, as the case may be, is dependent on the continuation of either a Filtration-Provided Service or access to a Filtration-Provided Facility, as the case may be, Cummins' obligation to provide, or cause to be provided, such Cummins-Provided Service or access to such Cummins-Provided Facility shall terminate automatically with the termination of such supporting Filtration-Provided Service or access to such supporting Filtration-Provided Facility; <u>provided</u>, <u>further</u>, that, to the extent that a Filtration Provider's ability to provide a Filtration-Provided Service or access to a Filtration-Provided Facility, as the case may be, is dependent on the continuation of either a Cummins-Provided Service or access to a Cummins-Provided Facility, as the case may be, Filtration's obligation to provide, or cause to be provided, such Filtration-Provided Service or access to such Filtration-Provided Facility shall terminate automatically with the termination of such supporting Cummins-Provided Service or access to such supporting Cummins-Provided Facility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>Section 2.3(a)</u>, to the extent that a Recipient needs a Service or access to a Facility extended beyond the initial Service Term, then the Recipient shall provide at least forty-five (45) days' written notice thereof prior to the expiration of the initial Service Term to the Provider and the applicable initial Service Term shall be extended once to expire at the date that is the earlier of (i) three (3) months after expiration of the applicable initial Service Term, (ii) the Disposition Date (for any Disposition Date Service) or (iii) the Term, in each case, at the same quality and level of service as governed such Service or access to such Facility immediately prior to the expiration of the initial Service Term; <u>provided</u>, that the Service Charges for any such extended Service or access to such Facility shall be automatically increased by an amount equal to ten percent (10%) of the then-applicable Service Charge for such extended Service Term, regardless of whether such increase would otherwise be restricted by <u>Section 3.1(a)</u> and subject to any additional increase that might be permitted pursuant to <u>Section 3.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Recipient agrees to use its good faith and commercially reasonable efforts to cease using any Services or access to Facilities as soon as reasonably practicable.

Section 2.4 <u>Additional Services and Access to Additional Facilities</u>. If, within four (4) months after the Effective Date, Cummins or Filtration (or the Cummins Transition Manager or Filtration Transition Manager, as applicable) identifies a service that (a) the Cummins Group provided to the Filtration Group prior to the Effective Date that the Filtration Group reasonably needs in order for the Filtration Business to continue to operate in substantially the same manner in which the Filtration Business operated prior to the Effective Date, and such service was not included in <u>Schedule 2.1-1</u> (other than because the Parties agreed such services shall not be provided), or (b) the Filtration Group provided to the Cummins Group prior to the Effective Date that the Cummins Group reasonably needs in order for the Cummins Group to continue to operate the Cummins Retained Business in substantially the same manner in which the Cummins Retained Business operated prior to the Effective Date, and such service was not included in <u>Schedule 2.1-2</u> (other than because the Parties agreed such services shall not be provided), and, in each case, the proposed Recipient of such service is unable to reasonably obtain such services from a third party unaffiliated with the Cummins Group or the Filtration Group in a commercially reasonable amount of time, then, in each case, Cummins and Filtration shall negotiate in good faith for a commercially reasonable period, which period shall in any event end no later than six (6) months after the Effective Date unless otherwise agreed by the Parties, but neither Cummins nor Filtration, as a proposed Provider, shall in any event be obligated, to agree to provide, or cause to be provided, such requested services (such additional services, the "<u>Additional Services</u>"). If, within four (4) months after the Effective Date, Cummins or Filtration identifies access to additional facilities that (x) the Cummins Group provided to the Filtration Group prior to the Effective Date that the Filtration Group reasonably needs in order for the Filtration Business to continue to operate in substantially the same manner in which the Filtration Business operated prior to the Effective Date, and such access was not included in <u>Schedule 2.1-1</u> (other than because the Parties agreed such access shall not be provided), or (y) the Filtration Group provided to the Cummins Group prior to the Effective Date that the Cummins Group reasonably needs in order for the Cummins Retained Business to continue to operate in substantially the same manner in which the Cummins Retained Business operated prior to the Effective Date, and such access was not included in <u>Schedule 2.1-2</u> (other than because the Parties agreed such access shall not be provided), and, in each case, the proposed Recipient of access to such facilities is unable to reasonably obtain access to a commensurate facility from a third party unaffiliated with the Cummins Group or the Filtration Group in a commercially reasonable amount of time, then, in each case, Cummins and Filtration shall negotiate in good faith for a commercially reasonable period, which period shall in any event end no later than six (6) months after the Effective Date unless otherwise agreed by the Parties, but neither Cummins nor Filtration, as a proposed Provider, shall in any event be obligated, to agree to provide, or cause to be provided, (unless prohibited by applicable Law) such requested access (such additional facilities, the "<u>Additional Facilities</u>"). Unless expressly agreed in writing to the contrary, the Parties shall amend the appropriate Schedule in writing to include such Additional Services or access to Additional Facilities (including the termination date with respect to such Additional Services or access to such Additional Facilities, which, for clarity, shall be no later than the end of the Term) and such Additional Services or access to such Additional Facilities shall be deemed Services or access to Facilities, respectively, hereunder, and accordingly, the Party requested to provide such Additional Services or access to such Additional Facilities shall provide, or cause to be provided, such Additional Services or access to such Additional Facilities in accordance with the terms and conditions set forth in this Agreement; <u>provided that</u> the Service Charge for such Additional Services or Additional Facilities shall be determined in accordance with <u>Section 3.1(a)</u>.

Section 2.5 <u>Exception to Obligation to Provide Services or Access to Facilities</u>. Notwithstanding any provision of this Agreement to the contrary, including Cummins' and Filtration's obligations set forth in <u>Section 2.1</u>, the relevant Providers shall not be obligated to (and neither Cummins nor Filtration shall be obligated to cause any Provider to) provide any Services or access to any Facilities if the provision of such Services or access to such Facilities would violate any Law, code of conduct or Contract to which Cummins, Filtration, any member of their respective Group or any Provider is subject; <u>provided</u>, <u>however</u>, that (a) Cummins and Filtration shall comply with <u>Section 7.2</u> in obtaining any Consents necessary to provide such Services or access to such Facilities and (b) with respect to such Contract violation for a Contract to which a Provider or a member of the Provider's Group is party, (i) the relevant Provider shall provide the Recipient with written notice of such restriction on the Provider's ability to provide the applicable Service or access to a Facility (with reasonable specificity) promptly upon the Provider receiving written notice of such Contract violation and (ii) to the extent such Service or access to a Facility is not required to be provided hereunder as a result of such Contract violation under this clause (b), the Provider shall use commercially reasonable efforts to make available to the Recipient substantially similar Services or access at the Recipient's expense pending receipt of any applicable Consents, which efforts shall in no event be required beyond the applicable Service Term for the restricted Service or Facilities access and which Service Term may not be extended pursuant to <u>Section 2.3(b)</u> unless the applicable Consent has been received.

Section 2.6 <u>Standard of the Provision of Services or Access to Facilities</u>. The provision of Services and access to Facilities shall be provided in the manner and at a level substantially consistent with that provided by the Providers immediately preceding the Effective Date. All of the Cummins-Provided Services and Cummins-Provided Facilities shall be for the sole use and benefit of the Filtration Group, and all of the Filtration-Provided Services and Filtration-Provided Facilities shall be for the sole use and benefit of the Cummins Group; <u>provided</u> that nothing in this <u>Section 2.6</u> shall limit a Provider's access to or use of its own Facilities. Notwithstanding anything herein to the contrary, prior to the Disposition Date, the Services and access to Facilities are to be provided in a manner and at the same quality and level of service as a Provider's treatment of itself (or its Affiliates or its or their personnel or business) when it is providing such comparable services or access to facilities to itself (or its Affiliates or its or their personnel or business), if any.

Section 2.7 <u>Change in Services or Access to Facilities</u>. A Provider may, from time to time without the consent of the Recipient or any required amendment to the applicable Schedule, reasonably supplement, modify, substitute or otherwise alter the manner in which a Service is performed or access to a Facility is provided; <u>provided</u> that such supplement, modification, substitution or alteration does not (a) materially and adversely affect the quality or availability of such Service or access to such Facility or (b) increase the cost to Recipient of using such Service or accessing such Facility.

Section 2.8 <u>Subcontractors</u>. A Provider may subcontract any of the Services or portion thereof to any other Person, including any Affiliate of the Provider; <u>provided</u>, <u>however</u>, that such other Person shall be subject to service standards and confidentiality and Personal Data Processing provisions at least equivalent to those set forth herein, and such Provider shall in all cases remain primarily responsible for all of its obligations hereunder with respect to the Services provided by such subcontractor.

Section 2.9 <u>Access Limitations and Prevention</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Facilities Access</u>. The Recipients of access to Facilities under this Agreement shall permit only their respective authorized employees, contractors, invitees or licensees designated in a written list delivered from time to time to the Provider to use the Facilities; <u>provided</u> that if a Recipient desires to add any Person to the permitted access list, Recipient must provide at least forty-eight (48) hours' prior notice to the applicable Provider before such access will be granted. Unless otherwise specified in the applicable Schedules, a Provider has the right to impose reasonable limitations upon Recipient's access to any Facilities, including that access be provided only during normal business hours, and such access shall in any event be limited to such access that does not, in the applicable Provider's reasonable discretion, materially disrupt or otherwise impede or impair the conduct of the Provider's or its Affiliates' business at such Facility. The Recipients of access to Facilities shall, and shall cause their respective authorized employees, contractors, invitees or licensees granted access to any such Facility to, comply with (i) all Laws applicable to their use or occupation of such Facility, including Environmental Laws and Laws relating to workplace safety matters; (ii) to the extent disclosed to such Recipients, electronically or in writing, applicable site rules, regulations, policies and procedures; and (iii) to the extent disclosed to such Recipients, electronically or in writing, any applicable requirements of any third-party lease governing such Facility. Unless otherwise specified in the applicable Schedules, the applicable Recipient shall (A) not make, and shall cause its employees, contractors, invitees and licensees to refrain from making, any material alterations or improvements to the Facilities except with the prior written approval of the applicable Provider and (B) maintain commercially appropriate and customary levels (and, in the case of any leased Facilities, in no event less than what is required by the landlord under the relevant lease agreement) of property and liability insurance in respect of the Facilities such Recipient is provided access to and the activities conducted thereon. The applicable Recipient shall, and shall cause its respective employees, contractors, invitees or licensees to, vacate each Facility at or prior to the applicable Service Term therefor (or such earlier termination permitted by this Agreement) and shall, unless otherwise specified in the applicable Schedules, deliver over to the Provider each Facility in the same repair and condition at that date as such Facility was in on the Closing Date, ordinary wear and tear excepted. The applicable Provider (and/or the landlord, in the case of a third-party lease) shall have reasonable access to the Facilities (or portion thereof occupied by Recipient) for which access is granted to Recipient(s) under this Agreement, from time to time and as reasonably necessary for security and maintenance thereof in accordance with applicable Law, past practice and/or the terms of any third-party lease agreement, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Network Access</u>. To the extent that the performance or receipt of Services or access to Facilities hereunder requires access to a Group's intranet or other internal systems by the other Group (the "<u>Accessing Group</u>"), the Party whose Group intranet or other internal systems is being accessed shall provide, or cause to be provided, limited access to such systems, subject to policies, procedures and limitations to be determined by such Party. From and after the Effective Date, a Party shall cause its Accessing Group to comply with all security guidelines (including physical security, network access, internet security, confidentiality and Personal Data security guidelines) of the other Party, copies of which shall be made available to the Accessing Group upon reasonable request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Viruses</u>. While Services and access to Facilities are being provided hereunder, the Parties shall take commercially reasonable measures to ensure that no Virus or similar items are coded or introduced into or in connection with the provision of any Service or access to any Facility. With respect to the provision of any Service or access to any Facility provided by third parties, compliance with the applicable agreement with such third party shall be deemed sufficient commercially reasonable measures. If a Virus is found to have been introduced into or in connection with the provision of any Service or access to any Facility, then the Parties hereto shall use commercially reasonable efforts to cooperate and to diligently work together and with each Provider providing such Service or access to such Facility to eliminate the effects of the Virus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Physical Access</u>. The Parties shall, and shall cause their respective Providers to, exercise reasonable care in providing, accessing and using the Services and Facilities to prevent access to the Services and Facilities by unauthorized Persons.

**Article III<u><br> COSTS AND DISBURSEMENTS</u>**

Section 3.1 <u>Costs and Disbursements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Service Charges</u>. The Recipient shall pay or cause to be paid to the Party who is the Provider of a Service or access to a Facility a monthly fee for such Service or access to such Facility as set forth therefor in the applicable Schedule, and with respect to an Additional Service or Additional Facility, the monthly fee shall be the Provider's internal and external costs and expenses of providing such Additional Services or access to such Additional Facilities, or as otherwise negotiated in good faith by the Parties on an arm's length basis, plus in any case any costs associated with migrating data or otherwise preparing any Additional Services or access to any Additional Facilities to be provided under this Agreement (each aggregate fee calculated in accordance with this provision constituting a "<u>Service Charge</u>" and, collectively, the "<u>Service Charges</u>"); <u>provided</u>, <u>however</u>, that a fee for a Service or access to a Facility not provided or made available hereunder for a full month shall be pro-rated for the portion of such month provided or made available. During the Service Term, the amount of a Service Charge for any Service or access to any Facility shall not increase, except to the extent (i) that there is an increase after the Effective Date in the internal and external costs and expenses actually incurred or allocated by the Provider of such Service or access to such Facility, including as a result of (A) an increase in the amount of such Service or access to such Facility being provided to the Recipient (as compared to the amount of such Service or access to such Facility underlying the determination of a Service Charge), (B) an increase in the rates or charges imposed by any third-party provider that is providing goods or services used by the Provider in providing such Service or access to such Facility (as compared to the rates or charges underlying a Service Charge), (C) an increase in the payroll or benefits for any personnel used by the Provider in providing such Service or access to such Facility or (D) any increase in costs relating to any changes requested by the Recipient in the nature of such Service or access to such Facility (including relating to newly installed products or equipment or any upgrades to existing products or equipment); <u>provided</u>, that the Recipient shall have received thirty (30) days' written notice of such increase prior to such increase taking effect, <u>provided</u>, <u>further</u>, <u>however</u>, that to the extent (1) any Service Charge amount is determined by a Provider under this clause (i) through a Provider's customary annual cost allocation process, then such Service Charge amount may only be increased through such annual cost allocation process once per fiscal year of the applicable Provider and (2) any Service Charge amount for warehousing services is determined under this clause (i) through a Provider's customary quarterly true-up processes, then such Service Charge amount may only be increased or decreased through such quarterly process if such process indicates a pricing increase or decrease of at least five percent (5%) from the then-current pricing, respectively, except that, in case of either the preceding (1) or (2), any Service Charge may be increased regardless of any such annual cost allocation process or a quarterly true-up process if a Provider's internal and external costs or expenses for Service or Facilities access provision become commercially unreasonable for continued Service or Facilities access provision absent such Service Charge increase or (ii) with respect to an Additional Service or Additional Facility, as otherwise may be negotiated in good faith by the Parties on an arm's length basis. At the written request of the Recipient, the Provider of such Service or access to such Facility for which the Service Charge will be increased pursuant to this <u>Section 3.1(a)</u> shall provide supporting documentation to the applicable Recipient in reasonable detail documenting the basis for such increase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Invoicing; Payment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Generally</u>. As of the Effective Date, the Parties agree to use a form of invoice substantially identical to <u>Exhibit A</u> attached hereto to be issued for the aggregate of periodic Service Charges by each Party or such other form as may be agreed between the Parties to comply with applicable Law. Each of Cummins and Filtration (or their designees), as applicable, shall deliver invoices to the other Party (or its designees) in accordance with the terms hereof, beginning on the tenth (10<sup>th</sup>) day of the first full month following the Effective Date and on or prior to the tenth (10<sup>th</sup>) day of each subsequent month for the duration of the Term (or at such other frequency as is consistent with the basis on which the Service Charges are determined and, if applicable, charged to Affiliates of each Party) in arrears for the Service Charges due under this Agreement. Each of Cummins and Filtration (or their designees), as applicable, shall pay, or cause to be paid, the amount of such invoice by wire transfer or check to the other Party (or its designees) within sixty (60) days of the date of such invoice; <u>provided</u> that: (i) any Contracts that prescribe other payment terms for any other individual Service or access to a Facility shall continue to govern; and (ii) to the extent consistent with past practice with respect to a Service or access to a Facility provided outside of the United States or as otherwise agreed by the Parties, payments may be required in local currency. If Cummins or Filtration (or their designees), as applicable, fails to pay such amount by such date, then such Party shall be obligated to pay to the other Party providing, or causing to be provided, the Services and access to the Facilities that are the subject of the unpaid amount, in addition to the amount due, interest on such amount at a rate per annum equal to the Prime Rate calculated for the actual number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Pre-IPO Services and Pre-IPO Facilities</u>. The Parties agree to use a form of invoice substantially identical to <u>Exhibit A</u> attached hereto to be issued for the aggregate of periodic Service Charges by each Party or such other form as may be agreed between the Parties to comply with applicable Law for the Pre-IPO Services or access to Pre-IPO Facilities. Each of Cummins and Filtration (or their designees), as applicable, shall deliver invoices to the other Party (or its designees) in accordance with the terms hereof, ultimately on the tenth (10th) day of the first full month following the month in which the Pre-IPO Services were rendered or access to Pre-IPO Facilities provided (or at such other frequency as is consistent with the basis on which the Service Charges are determined and, if applicable, charged to Affiliates of each Party) in arrears for the Service Charges due under this Agreement. Each of Cummins and Filtration (or their designees), as applicable, shall pay, or cause to be paid, the amount of such invoice by wire transfer or check to the other Party (or its designees) within sixty (60) days of the date of such invoice; <u>provided</u> that (i) any Contracts that prescribe other payment terms for any other individual Service or access to a Facility shall continue to govern; and (ii) to the extent consistent with past practice with respect to a Service or access to a Facility provided outside of the United States, payments may be required in local currency. If Cummins or Filtration (or their designees), as applicable, fails to pay such amount by such date, then such Party shall be obligated to pay to the other Party providing, or causing to be provided, the Services and access to the Facilities that are the subject of the unpaid amount, in addition to the amount due, interest on such amount at a rate per annum equal to the Prime Rate calculated for the actual number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Taxes; Tax Indemnity</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) All sums payable under this Agreement or any Local Service Agreement are exclusive of any amount in respect of VAT. If any action of a Provider under this Agreement constitutes, for VAT purposes, the making of a supply to the Recipient (or a member of the Recipient's Group) and VAT is or becomes chargeable on that supply, the Recipient shall pay to the Provider, in addition to any amounts otherwise payable under this Agreement by the Recipient, a sum equal to the amount of the VAT chargeable on that supply against delivery to the Recipient of a valid VAT invoice issued in accordance with the laws and regulations of the applicable jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Without duplication of amounts covered by <u>Section 3.1(c)(i)</u>, the Recipient shall be responsible for all VAT, sales, goods and services, use, gross receipts, transfer, consumption and other similar Taxes, together with interest, penalties and additions thereto (collectively, but excluding Taxes imposed on net income, profits and gains and franchise Taxes, "<u>Service Taxes</u>"), imposed by applicable Taxing Authorities attributable to the provision of Services or Facilities access to Recipient (or such member the Recipient's Group) or any payment hereunder. If the Provider or any member of the Provider's Group is required to pay any part of such Service Taxes, the Provider (or the applicable member of the Provider's Group) shall provide the Recipient with evidence that such Service Taxes have been paid, and the Recipient (or the applicable member of the Recipient's Group) shall reimburse the Provider (or such member of the Provider's Group) for such Service Taxes. The Provider (or the applicable member of the Provider's Group) shall, upon the reasonable request of the Recipient, promptly revise any invoice to the extent such invoice was erroneously itemized or categorized. Each Party shall, and shall cause the applicable members of its Group to, use commercially reasonable efforts to (i) minimize the amount of any Service Taxes imposed on the provision of Services or Facilities access hereunder, including by availing itself of any available exemptions from or reductions to any such Service Taxes, and (ii) cooperate with the other Party in providing any information or documentation that may be reasonably necessary to minimize such Service Taxes or obtain such exemptions or reductions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If applicable Law requires that an amount in respect of any Taxes be withheld from any Service Charges payable pursuant to <u>Section 3.1(a)</u>, the Recipient shall promptly notify the Provider of such required withholding and the Recipient shall withhold (or cause to be withheld) such Taxes and pay (or cause to be paid) such withheld amounts over to the applicable Taxing Authority in accordance with the requirements of the applicable Law and provide the Provider with an official receipt confirming such payment (where it is common practice for the applicable Taxing Authority to provide such a receipt). No Party shall be required to "gross up" any amounts invoiced hereunder to account, or otherwise compensate, for any Taxes that are required to be withheld under applicable Law. The Parties shall use commercially reasonable efforts to (A) cooperate to determine whether any such withholding applies to the Services, and if so, (B) minimize applicable withholding Taxes. Each Party shall, and shall cause the applicable members of its Group to, provide the other Party and the applicable members of its Group with any reasonable cooperation or assistance as may be necessary to enable the other Party and such members of its Group to claim exemption from, or a reduction in the rate of, any withholding Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Where a Party or any member of its Group is required by this Agreement to reimburse or indemnify the other Party or any member of its Group for any cost or expense, the reimbursing or indemnifying Party (or the applicable member of its Group) shall reimburse or indemnify the other Party (or the applicable member of its Group) for the full amount of the cost or expense, inclusive of any amounts in respect of VAT imposed on that amount to the extent properly reflected on a valid invoice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Notwithstanding anything herein or in the Tax Matters Agreement to the contrary, if a Cummins Provider becomes liable for Taxes related to the Filtration Group or the Filtration Business for any taxable period beginning before, on or after the Effective Date as a result of or attributable to Services or Facilities access provided under or contemplated by this Agreement or any Local Service Agreement, Filtration shall indemnify and hold harmless Cummins, or such Cummins Provider, for such Taxes and any and all costs related to processing and defending any claim for such Taxes by the applicable Taxing Authority.

Section 3.2 <u>No Right to Set-Off</u>. Each of Cummins or Filtration, as applicable, shall pay the full amount of Service Charges and shall not set-off, counterclaim or otherwise withhold any amount owed to the other Party under this Agreement, on account of any obligation owed by the other Party to Cummins or Filtration, as applicable, under this Agreement, the Separation Agreement or any other Ancillary Agreement that has not been finally adjudicated by a court of competent jurisdiction, settled or otherwise agreed upon by the Parties in writing; <u>provided</u>, <u>however</u>, that Cummins or Filtration, as applicable, shall be permitted to assert a set-off right with respect to any obligation that has been so finally adjudicated by a court of competent jurisdiction that is not subject to further appeal, settled or otherwise agreed upon by the Parties in writing against amounts owed by the other Party under this Agreement.

**Article IV<u><br> WARRANTIES AND COMPLIANCE</u>**

Section 4.1 <u>Disclaimer of Warranties</u>. Except as expressly set forth in this Agreement, the Parties acknowledge and agree that: (a) the Services and Facilities are provided as-is, where-is and with all faults; (b) the Recipients assume all risks and Liability arising from or relating to their use of and reliance upon the Services and the Facilities; and (c) each Party and its respective Group and Providers makes no representation or warranty with respect thereto. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, EACH PARTY AND ITS RESPECTIVE GROUP AND PROVIDERS HEREBY EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE SERVICES AND THE FACILITIES, WHETHER EXPRESS OR IMPLIED, INCLUDING ANY REPRESENTATION OR WARRANTY IN REGARD TO QUALITY, PERFORMANCE, NONINFRINGEMENT, MISAPPROPRIATION, COMMERCIAL UTILITY, OR MERCHANTABILITY OR FITNESS OF THE SERVICES OR FACILITIES FOR A PARTICULAR PURPOSE.

Section 4.2 <u>Compliance with Laws and Regulations</u>. Each Party and its respective Group shall be responsible for its own compliance with any and all Laws applicable to its receipt or performance of Services or access to Facilities under this Agreement. FOR THE AVOIDANCE OF DOUBT AND NOTWITHSTANDING ANY PROVISION OF THIS AGREEMENT TO THE CONTRARY, EACH PARTY EXPRESSLY DISCLAIMS ANY EXPRESS OR IMPLIED OBLIGATION OR WARRANTY WITH RESPECT TO THE SERVICES OR ACCESS TO FACILITIES THAT COULD BE CONSTRUED TO REQUIRE ANY PROVIDER TO DELIVER SERVICES OR ACCESS TO FACILITIES HEREUNDER IN SUCH A MANNER AS TO ALLOW ANY RECIPIENT TO ITSELF COMPLY WITH ANY LAW APPLICABLE TO THE ACTIONS OR FUNCTIONS OF SUCH RECIPIENT OR ANY MEMBER OF ITS GROUP.

**Article V<u><br> LIABILITY AND INDEMNIFICATION</u>**

Section 5.1 <u>Limitation of Liability</u>. Except (x) with respect to claims of Fraud by a Party, or (y) with respect to a Recipient, for the Service Charge, fee, Tax (including Service Taxes and VAT), cost and expense and other obligations of any Recipient expressly set forth in this Agreement, including pursuant to <u>Section 3.1</u>, the maximum Liability of a Party (including any liability for the acts and omissions of its Affiliates, representatives, subcontractors or its or their respective directors, officers, employees, Affiliates, agents or representatives) to, and the sole monetary remedy of, the other Party (and its Affiliates, representatives, subcontractors or its or their respective directors, officers, employees, Affiliates, agents or representatives) for matters arising out of this Agreement (including any Local Services Agreement), whether in contract, tort (including negligence or strict liability) or otherwise, shall not, with respect to any matters arising from Services or Facility access for which the Party or one of its Group members is a Provider in the same Service Category, exceed (a) the applicable Initial Service Category Cap during the first twelve (12) months after the Effective Date if the first instance of the applicable act or omission resulting in the applicable Liabilities attributable to such Service or Facility access occurs in such period and (b) from and after the date that is twelve (12) months after the Effective Date, the amount of the aggregate Service Charges actually paid for Services or Facility access to such Party or one of its Group members as Providers pursuant to this Agreement in the twelve (12) month period preceding the first instance of the applicable act or omission resulting in the applicable Liabilities attributable to such Service or Facility access for Services or Facility access in the same Service Category as such Service or Facility access (the preceding (a) and (b), as applicable, the "<u>Rolling Liability Cap</u>"); <u>provided</u>, <u>however</u>, that for purposes of calculating whether any applicable Rolling Liability Cap has been reached, a Party's prior Liabilities incurred under this Agreement with respect to Services or Facility Access in the same Service Category shall be cumulative and included in any calculation of any Rolling Liability Cap regardless of whether incurred before the applicable twelve (12) month period for an applicable Rolling Liability Cap.

Section 5.2 <u>Indemnification</u>. From and after the Effective Date, subject to the terms and conditions of this Agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins agrees to indemnify, defend and hold harmless the Filtration Indemnitees from and against any and all Indemnifiable Losses of the Filtration Indemnitees resulting from or otherwise relating to a Third Party Claim involving gross negligence or willful misconduct by any or all of the Cummins Group in the performance of their respective obligations under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration agrees to indemnify, defend and hold harmless the Cummins Indemnitees from and against any and all Indemnifiable Losses of the Cummins Indemnitees resulting from or otherwise relating to a Third Party Claim involving gross negligence or willful misconduct by any or all of the Filtration Group in the performance of their respective obligations under this Agreement.

Section 5.3 <u>Consequential and Other Damages</u>. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL, UNDER ANY CIRCUMSTANCES, BE LIABLE UNDER OR IN CONNECTION WITH THIS AGREEMENT TO THE OTHER PARTY OR ANY OF ITS AFFILIATES FOR (AND EACH PARTY AND ITS AFFILIATES HEREBY WAIVES ANY CLAIM TO) ANY SPECIAL, INCIDENTAL, INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OF ANY KIND OR ANY DAMAGES ARISING FROM BUSINESS INTERRUPTION LOSSES, LOSS OF PROFITS, LOSS OF REVENUE, LOSS OF GOODWILL AND DIMINUTION IN VALUE, IN EACH CASE UNDER THIS <u>SECTION 5.3</u>, WHETHER CAUSED BY BREACH OF THIS AGREEMENT OR OTHERWISE AND WHETHER ARISING IN CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE.

Section 5.4 <u>Procedures</u>. Sections 5.4(a) through (d) and 5.6 through 5.9 of the Separation Agreement shall apply to this Agreement *mutatis mutandis* and shall govern any and all Liabilities or indemnification (including any Indemnifiable Losses) under or in connection with this Agreement, whether arising from statute, principle of common or civil law, principles of strict liability, tort, contract or otherwise under or in connection with this Agreement.

Section 5.5 <u>Exclusive Remedy</u>. Except with respect to claims of Fraud by a Party acting as a Provider, this <u>Article V</u> shall be the sole and exclusive remedy of a Recipient Indemnitee for any monetary or compensatory damages or losses, including any Indemnifiable Losses, arising from this Agreement and each Recipient Indemnitee expressly waives and relinquishes any and all rights, claims or remedies such Person may have other than pursuant to this <u>Article V</u>.

**Article VI<u><br> TERMINATION</u>**

Section 6.1 <u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Termination by Cummins</u>. Notwithstanding <u>Section 2.3</u>, this Agreement may be terminated at any time by Cummins: (i) if Filtration, any Filtration Provider or any member of the Filtration Group is in material breach of the terms of this Agreement and such breach is not corrected within thirty (30) days following written notice from Cummins or the Cummins Transition Manager of such breach; (ii) immediately following written notice from Cummins or the Cummins Transition Manager, with respect to any Cummins-Provided Service or access to any Cummins-Provided Facility, if the continued performance of such Cummins-Provided Service or the continued provision of access to such Cummins-Provided Facility would be a violation of any Law; or (iii) immediately upon an Acquisition of Filtration, except, and only to the extent, otherwise agreed to in writing by Cummins. In the event that this Agreement is terminated by Cummins other than at the end of a month, the Service Charges for the month in which such termination occurs shall be pro-rated appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Termination by Filtration</u>. Notwithstanding <u>Section 2.3</u>, this Agreement may be terminated at any time by Filtration: (i) if Cummins, any Cummins Provider or any member of the Cummins Group is in material breach of the terms of this Agreement and such breach is not corrected within thirty (30) days following written notice from Filtration or the Filtration Transition Manager of such breach; or (ii) immediately following written notice from Filtration or the Filtration Transition Manager, with respect to any Filtration-Provided Service or access to any Filtration-Provided Facility, if the continued performance of such Filtration-Provided Service or the continued provision of access to such Filtration-Provided Facility would be a violation of any Law. In the event that this Agreement is terminated by Filtration other than at the end of a month, the Service Charges for the month in which such termination occurs shall be pro-rated appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Termination of a Particular Service or Access</u>. Without prejudice to the rights of any Party with respect to a Force Majeure: (i) a Recipient may terminate this Agreement at any time with respect to any particular Service or access to any particular Facility, in whole (with respect to such particular Service or access to such particular Facility) but not in part: (A) for any reason or no reason following at least thirty (30) days' prior written notice to the Filtration Transition Manager, if Filtration is the Provider, or the Cummins Transition Manager, if Cummins is the Provider, of such termination (unless a longer notice period is specified in the applicable Schedule or in a third-party Contract to provide such Service or access to such Facility); (B) if the Provider of such Service or access to such Facility has failed to perform any of its material obligations under this Agreement with respect to such Service or access to such Facility, and such failure shall continue uncured for a period of thirty (30) days or more following receipt by the Filtration Transition Manager, if Filtration is the Provider, or the Cummins Transition Manager, if Cummins is the Provider, of written notice of such failure from the Cummins Transition Manager, if Cummins is the Recipient, or the Filtration Transition Manager, if Filtration is the Recipient; or (C) immediately upon mutual written agreement of the Parties; and (ii) a Provider may terminate this Agreement at any time with respect to a particular Service or access to a particular Facility, in whole (with respect to such particular Service or access to such particular Facility) but not in part, (A) if the Recipient of such Service or access to such Facility has failed to perform any of its material obligations under this Agreement with respect to such Service or access to such Facility, and such failure shall continue uncured for a period of thirty (30) days or more following receipt by the Filtration Transition Manager, if Filtration is the Recipient, or the Cummins Transition Manager, if Cummins is the Recipient, of written notice of such failure from the Cummins Transition Manager, if Cummins is the Provider, or the Filtration Transition Manager, if Filtration is the Provider, or (B) if Cummins is the Provider, following ninety (90) days' prior written notice to the Filtration Transition Manager if Cummins is ceasing the provision of such comparable services or access to itself and the other members of the Cummins Group, <u>provided</u>, <u>however</u>, regardless of the foregoing under this clause (B), in the event the related Service or Facility access is a Critical Filtration Service, such ninety (90) day prior notice period will be extended to one hundred and fifty (150) days' and the Parties will negotiate in good faith to determine any appropriate Service Charge adjustments for any increased costs to the Filtration Group resulting from a replacement Service or Facility access for any applicable remaining Service Term. The relevant Schedule shall be updated to reflect any terminated Service or access to a Facility without otherwise amending or altering the validity of this Agreement. In the event that the effective date of the termination of any Service or access to a Facility is a day other than at the end of a month, the Service Charge associated with such Service or access to such Facility shall be pro-rated appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Service or Access Reduction</u>. A Recipient may at any time and from time to time request a reduction in part of the scope or amount of any Service or access to any Facility. If requested to do so by the Filtration Transition Manager, if Filtration is the Recipient, or the Cummins Transition Manager, if Cummins is the Recipient, the other Party, acting through the Cummins Transition Manager or the Filtration Transition Manager, as applicable, shall discuss in good faith appropriate reductions to the relevant Service Charges in light of all relevant factors, including the costs and benefits to the Provider of any such reductions. The relevant Schedule shall be updated to reflect any reduced Service or access to a Facility agreed to in writing by the Parties. In the event that any Service or access to a Facility is so reduced other than at the end of a month, the Service Charge associated with such Service or access to such Facility for the month in which such Service or access to such Facility is reduced shall be pro-rated appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Termination for Absence of Consent</u>. To the extent that a Recipient is not in compliance with <u>Section 7.1(b)</u> and such non-compliance remains uncured for a period of ten (10) days, the Provider may thereupon terminate the provision of any Service or access to any Facility provided under such third-party Contract.

Section 6.2 <u>Effect of Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Further Performance Obligations</u>. Upon termination of any Service or access to any Facility pursuant to this Agreement, neither the Provider of such Service or access to such Facility nor any member of its Group shall have any further obligation to provide such Service or access to such Facility, and Cummins or Filtration, as applicable, shall have no obligation to pay any Service Charges relating to such Service or access to such Facility; <u>provided</u> that Cummins or Filtration, as applicable, shall remain obligated to the other Party for the Service Charges owed and payable in respect of the provision of such Service or access to such Facility prior to the effective date of such termination. In connection with the termination of any Service or access to any Facility, the provisions of this Agreement not relating solely to such Service or access to such Facility shall survive any such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Unpaid Service Charges</u>. In connection with a termination of this Agreement, <u>Article IV</u>, <u>Article V</u>, this <u>Section 6.2</u>, <u>Article VIII</u>, and each Recipient's Liability for all due and unpaid Service Charges shall continue to survive indefinitely or, in the case of unpaid Service Charges, until paid in full.

Section 6.3 <u>Force Majeure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Permitted Nonperformance</u>. No Party nor any Person acting on its behalf shall have any Liability or responsibility for failure to fulfill any obligation (other than a payment obligation) under this Agreement so long as and to the extent to which the fulfillment of such obligation is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure; <u>provided</u>, in each instance, that (i) such Party (or such Person) shall have exercised commercially reasonable efforts to minimize the effect of Force Majeure on its obligations; (ii) the nature, quality and standard of care that the Provider shall provide in delivering a Service or providing access to a Facility after a Force Majeure shall be substantially the same as the nature, quality and standard of care that the Provider provides prior to the Force Majeure; and (iii) the Provider shall have been similarly prevented, frustrated, hindered or delayed in providing the same or substantially similar services or access to facilities, if any, to itself or its Affiliates due to such Force Majeure to the extent such Force Majeure affects Provider's provision of such services or access to itself or its Affiliates, if any. In the event of an occurrence of a Force Majeure, the Party whose performance is affected thereby shall give written notice of suspension as soon as reasonably practicable to the other Party stating the date and extent of such suspension and the cause thereof, and such Party shall resume the performance of such obligations as soon as reasonably practicable after the removal of the cause, and if the Provider is the Party so prevented, then the Recipient shall not be obligated to pay the Service Charge for the provision of a Service or access to a Facility to the extent and for so long as such Service or Facility is not made available to the Recipient hereunder as a result of such Force Majeure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Alternative Services</u>. In the event of a Force Majeure that continues for a period of more than fifteen (15) consecutive days, the Recipient with respect to the affected Service or Facility shall be entitled (i) to seek an alternative service provider or facility at its own cost to perform such Service or provide access to a commensurate facility during the pendency of the Force Majeure, and (ii) following the conclusion of such Force Majeure, to permanently terminate the Provider's obligation to provide the affected Service or access to the affected Facility. In such event, the Recipient shall be relieved of the obligation to pay Service Charges for the provision of such Service or access to such Facility throughout the duration of such Force Majeure and, in the event of a permanent termination of the Provider's obligation to provide such Service or access to such Facility, at any time thereafter.

**Article VII<u><br> MANAGEMENT AND CONTROL</u>**

Section 7.1 <u>Cooperation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Cooperation Among the Parties</u>. During the Term, each Party shall, and shall cause each member of its Group to, use commercially reasonable efforts to cooperate with the relevant Provider with respect to such Provider's provision of Services and access to Facilities and responding to such Provider's reasonable requests for information related to the functionality or operation of the Services and Facilities. Neither Party nor any member of its Group shall knowingly take any action which would substantially interfere with or substantially increase the cost of the other Party to provide or cause to be provided any of the Services or access to the Facilities. Without limiting the foregoing, each Party shall provide or cause a member of its Group to provide the relevant Provider with reasonable access, during reasonable business hours, to (i) records related to the provision of the Services and access to the Facilities, and (ii) the relevant Party's personnel and facilities for the purpose of training and consultation with respect to the Services and access to the Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Third-Party Contracts</u>. If a Party or a member of its Group has entered into any third-party Contract in connection with the provision of any Service or access to any Facility, the Recipient of such Service or access to such Facility shall comply with the terms of such Contract to the extent the Recipient or the Filtration Transition Manager, if Filtration is the Recipient, or the Cummins Transition Manager, if Cummins is the Recipient, has been informed of such terms.

Section 7.2 <u>Required Consents</u>. Each Party shall use commercially reasonable efforts to obtain any and all third-party Consents necessary or advisable (a) to allow the relevant Provider to provide any Service or access to any Facility and (b) for the Provider not be in violation of any Contract or Law such that the relevant Provider would be prohibited from providing any Service or access to any Facility (such Consents, the "<u>Required Consents</u>"), including by facilitating the Recipient's communication with the applicable third-party provider, if any, party to the applicable Contract for such Service or access to such Facility to the extent such communication is commercially reasonable; <u>provided</u>, <u>however</u>, that (i) the costs of obtaining all Required Consents shall be paid by the Recipient of such Service and access to such Facility and (ii) in no event shall the Provider of such Services or access to such Facilities be required to pay any money or other consideration (unless the applicable Recipient agrees to reimburse such Provider therefor), or to grant any material accommodation to any third-party Person (including any material amendment to any Contract), or to initiate any action or proceeding against any third-party Person, in order to obtain any Required Consent pursuant to this <u>Section 7.2</u>. Each Party shall provide written evidence of receipt of the Required Consents to the other Party upon such other Party's request. Each Party shall not knowingly enter into a Contract that would prohibit the provision of a Service or access to Facilities, which Service or access to a Facility has a Service Term of at least twelve (12) months at the time such Contract is entered into, <u>provided</u> that a Provider's obligations in the event such Contract is entered into shall be subject to <u>Section 2.5</u>.

Section 7.3 <u>Primary Points of Contact for Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Appointment and Responsibilities</u>. Each Party shall appoint an individual to act as the primary point of operational contact for the administration and operation of this Agreement, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The individual appointed by Filtration as the primary point of operational contact pursuant to this <u>Section 7.3(a)(i)</u> (the "<u>Filtration Transition Manager</u>") shall have overall responsibility for coordinating, on behalf of Filtration, all activities undertaken by Filtration and its Providers, Recipients, Affiliates and representatives hereunder, including (A) the performance of Filtration's obligations hereunder, (B) the coordinating of the provision of the Filtration-Provided Services and access to the Filtration-Provided Facilities with Cummins, (C) serving as the day-to-day contact for the Cummins Transition Manager, and (D) making available to Cummins the data, facilities, resources and other support services from Filtration required for the Cummins Providers to be able to provide the Cummins-Provided Services and access to the Cummins-Provided Facilities in accordance with the requirements of this Agreement. Filtration may change the Filtration Transition Manager from time to time upon written notice to Cummins. Filtration shall use commercially reasonable efforts to provide at least thirty (30) days' prior written notice of any such change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The individual appointed by Cummins as the primary point of operational contact pursuant to this <u>Section 7.3(a)(ii)</u> (the "<u>Cummins Transition Manager</u>") shall have overall operational responsibility for coordinating, on behalf of Cummins, all activities undertaken by Cummins and its Providers, Recipients, Affiliates and representatives hereunder, including (A) the performance of Cummins' obligations hereunder, (B) the coordinating of the provision of the Cummins-Provided Services and access to the Cummins-Provided Facilities with Filtration, (C) serving as the day-to-day contact for the Filtration Transition Manager, and (D) making available to Filtration the data, facilities, resources and other support services from Cummins required for the Filtration Providers to be able to provide the Filtration-Provided Services and access to the Filtration-Provided Facilities in accordance with the requirements of this Agreement. Cummins may change the Cummins Transition Manager from time to time upon written notice to Filtration. Cummins shall use commercially reasonable efforts to provide at least thirty (30) days' prior written notice of any such change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Review Meetings</u>. The Cummins Transition Manager and the Filtration Transition Manager shall meet either in-person at a mutually acceptable location or via telephone or video conference at least monthly to review Cummins' and Filtration's provision of the Services and access to the Facilities as required under this Agreement.

Section 7.4 <u>Steering Committee</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Size and Composition</u>. Cummins shall appoint three (3) members of its management staff, and Filtration shall appoint three (3) members of its management staff to serve on a transition steering committee (the "<u>Steering Committee</u>"). Either Party may change its Steering Committee members from time to time upon written notice to the other Party; <u>provided</u>, <u>however</u>, that the Cummins Transition Manager and the Filtration Transition Manager shall at all times remain as members of the Steering Committee. In addition, the Parties may mutually agree to increase or decrease the size, purpose or composition of the Steering Committee in an effort for the Providers to better provide, and for the Recipients to better utilize, the Services and access to the Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Responsibilities</u>. The Steering Committee's responsibilities include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) generally overseeing the performance of each Party's obligations under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) making, and providing continuity for making, decisions for the Recipients with respect to the establishment, prioritization and use of the Services and access to the Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Review Meetings</u>. The Steering Committee shall meet either in-person at a mutually acceptable location or via telephone or video conference at least monthly to review Cummins' and Filtration's provision of the Services and access to the Facilities as required under this Agreement.

Section 7.5 <u>Personnel</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Access</u>. The Provider of any Service or access to any Facility shall make available to the Recipient of such Service or access to such Facility such personnel as may be reasonably necessary to provide such Service, in accordance with such Provider's standard business practices. The Provider shall have the right, in its reasonable discretion, to (i) designate which personnel it will assign to perform such Service, and (ii) remove and replace such personnel at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Responsibility</u>. The Provider of any Service or access to any Facility shall be solely responsible for all salary, employment and other benefits of and Liabilities relating to the employment or engagement of persons employed or engaged by such Provider. In performing their respective duties hereunder, all such employees and independent contractors of any Provider shall be under the direction, control and supervision of such Provider, and such Provider shall have the sole right to exercise all authority with respect to the employment, engagement (including termination of employment or engagement), assignment and compensation of such employees and independent contractors.

Section 7.6 <u>No Agency</u>. Nothing in this Agreement shall be deemed in any way or for any purpose to constitute either Party or any of its Affiliates acting as an agent of another unaffiliated Person in the conduct of such other Person's business. A Provider of any Service or access to any Facility hereunder shall act as an independent contractor and not as an agent of the Recipient or its Affiliates in performing such Service or providing access to such Facility.

Section 7.7 <u>Data Processing</u>. The provisions of Section 6.8 of the Separation Agreement shall govern the Processing of Personal Data in connection with the provision of Services or access to Facilities hereunder.

**Article VIII<u><br> MISCELLANEOUS</u>**

Section 8.1 <u>Treatment of Confidential Information</u>. The provisions of Section 6.5 of the Separation Agreement shall govern the treatment of Confidential Information that is accessed or received in connection with the provision of Services or access to Facilities hereunder.

Section 8.2 <u>Local Service Agreements; Joinder Agreements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Prior to, at or after the Effective Date, the Parties or their Affiliates have entered into or may enter into service agreements (any such agreements, "<u>Local Service Agreements</u>") between or among members of the Cummins Group, on the one hand, and members of the Filtration Group, on the other hand, with respect to certain territories or jurisdictions, including as set forth on <u>Schedule 8.2(a),</u> in such forms as the Parties have agreed or may agree. From and after the Effective Date, the Parties shall reasonably cooperate to enter into such Local Service Agreements to the extent required by applicable Law. Neither a Party nor any of its Affiliates shall agree to any modifications to the application of this Agreement to a Local Service Agreement, unless such modifications are necessary to comply with the legal and regulatory requirements of the relevant jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Party shall cause their respective Subsidiaries who are to provide or receive Services, or who have provided or received Pre-IPO Services, to become a party to this Agreement and adopt this Agreement with the same force and effect as if it were originally a party hereto by executing a Joinder Agreement substantially in the form attached as <u>Exhibit B</u> hereto (each, a "<u>Joinder Agreement</u>"), including those Subsidiaries set forth on <u>Schedule 8.2(b)</u>, other than any Subsidiaries that execute or have executed a Local Services Agreement in lieu of such Joinder Agreement. From and after the Effective Date, the Parties shall reasonably cooperate to deliver such executed Joinder Agreements. Each such Joinder Agreement executed pursuant to this <u>Section 8.2(b)</u> shall be deemed part of this Agreement as of the date of such Joinder Agreement.

Section 8.3 <u>Entire Agreement; Construction</u>. This Agreement, including the Exhibits and Schedules hereto and any Local Service Agreements or Joinder Agreements, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event of any inconsistency between this Agreement and any Schedule hereto, the Schedule shall prevail. Subject to applicable Law, in the event of any inconsistency between this Agreement and any Local Service Agreement (including to the extent this Agreement applies to the Local Service Agreement), this Agreement shall prevail. In the event of any conflict between this Agreement and the Tax Matters Agreement, the terms and conditions of the Tax Matters Agreement shall control.

Section 8.4 <u>Counterparts</u>. This Agreement may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties.

Section 8.5 <u>Notices</u>. All notices, requests, claims, demands and other communications under this Agreement shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, or by facsimile or electronic mail with receipt confirmed (followed by delivery of an original via overnight courier service) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this <u>Section 8.6</u>) or as otherwise specified in a Joinder Agreement):

To Cummins:

Cummins Inc.

500 Jackson Street,

Box 3005

Columbus, Indiana 47202-3005

Attn: General Counsel

Facsimile: [●]

Email: [●]

To Filtration:

Atmus Filtration Technologies Inc.

[●]

[●]

Attn: General Counsel

Facsimile: [●]

Email: [●]

Section 8.6 <u>Consents</u>. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party (and its Group). For this purpose, a Party may provide its written consent in the form of an email that expressly sets forth such consent and is delivered by the General Counsel of the Party giving such consent to the General Counsel of the Party requesting such consent.

Section 8.7 <u>No Waiver</u>. No failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or privilege hereunder shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

Section 8.8 <u>Amendment</u>. Except with respect to the execution of any Joinder Agreement, or the amendment, supplementation or modification thereof in accordance with the terms and provisions of such Joinder Agreement, no provisions of this Agreement shall be deemed amended, supplemented or modified unless such amendment, supplement or modification is in writing and signed by an authorized representative of each Party. No provisions of this Agreement shall be deemed waived unless such waiver is in writing and signed by the authorized representative of the Party against whom it is sought to be enforced.

Section 8.9 <u>Assignment</u>. The provisions of Section 10.8 of the Separation Agreement shall be the assignment provisions with respect to this Agreement.

Section 8.10 <u>Successors and Assigns</u>. The provisions of this Agreement and the obligations and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted assigns.

Section 8.11 <u>Payment Terms</u>. Without the written consent of the Party receiving any payment under this Agreement specifying otherwise, all payments to be made under this Agreement shall be made in United States Dollars. Except as expressly provided herein, any amount which is not expressed in United States Dollars shall be converted into United States Dollars by using the exchange rate published on Bloomberg at 5:00 pm Eastern Standard time (EST) on the day before the relevant date or in the Wall Street Journal on such date if not so published on Bloomberg. Except as expressly provided herein, in the event that any indemnification payment required to be made hereunder may be denominated in a currency other than United States Dollars, the amount of such payment shall be converted into United States Dollars on the date on which notice of the claim is given to the Indemnifying Party.

Section 8.12 <u>Subsidiaries</u>. Each of the Parties shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein or in any Joinder Agreement to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party at and after the Effective Date, to the extent such Subsidiary remains a Subsidiary of the applicable Party.

Section 8.13 <u>Third Party Beneficiaries</u>. This Agreement is solely for the benefit of the Parties and should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement.

Section 8.14 <u>Attorney-in-Fact</u>. Each Subsidiary of Cummins that executes a Joinder Agreement designates and appoints Cummins as such party's agent and attorney-in-fact with full power and authority to act for and on behalf of such party in the absolute discretion of Cummins, and each Subsidiary of Filtration that executes a Joinder Agreement designates and appoints Filtration as such party's agent and attorney-in-fact with full power and authority to act for and on behalf of such party in the absolute discretion of Filtration, in each case with respect to all matters relating to this Agreement, including execution and delivery of any amendment, supplement, modification or termination of this Agreement and any waiver of any claim or right arising out of this Agreement, agreeing on the Service Charges from time to time and any adjustments thereto, and, in general, to do all things and to perform all acts, including executing and delivering all agreements, certificates, receipts, instructions, and other instruments contemplated by or deemed advisable to effectuate the provisions of this <u>Section 8.14</u>. In addition, the Parties agree that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this appointment and grant of power and authority is coupled with an interest and is in consideration of the mutual covenants made in this Agreement and is irrevocable and will not be terminated by any act of any Subsidiary that is a party or by operation of Law or by the occurrence of any other event. Each Subsidiary of Cummins that is a party to a Joinder Agreement hereby consents to the taking of any and all actions and the making of all decisions required or permitted to be taken or made by Cummins pursuant to this <u>Section 8.14</u>, and each Subsidiary of Filtration that is a party to a Joinder Agreement hereby consents to the taking of any and all actions and the making of all decisions required or permitted to be taken or made by Filtration pursuant to this <u>Section 8.14</u>. Each Subsidiary of Cummins that is a party to a Joinder Agreement agrees that Cummins shall have no obligation or Liability to any Person for any action taken or omitted by Cummins in good faith, and each Subsidiary of Filtration that is a party to a Joinder Agreement agrees that Filtration shall have no obligation or Liability to any Person for any action taken or omitted by Filtration in good faith; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Cummins shall be entitled to rely upon any document or other paper delivered by Filtration as being authorized by each Subsidiary of Filtration that is a party to a Joinder Agreement, and Filtration shall be entitled to rely upon any document or other paper delivered by Cummins as being authorized by each Subsidiary of Cummins that is a party to a Joinder Agreement.

Section 8.15 <u>Titles and Headings</u>. Titles and headings to sections herein are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

Section 8.16 <u>Schedules</u>. The Schedules shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein.

Section 8.17 <u>Governing Law</u>. The provisions of Section 10.16 of the Separation Agreement shall determine the governing law with respect to this Agreement.

Section 8.18 <u>Submission to Jurisdiction</u>. The provisions of Section 10.17 of the Separation Agreement shall be the submission to jurisdiction with respect to this Agreement.

Section 8.19 <u>Waiver of Jury Trial</u>. The provisions of Section 10.18 of the Separation Agreement shall be the waiver of jury trial provisions with respect to this Agreement.

Section 8.20 <u>Dispute Resolution</u>. The provisions of Article VIII of the Separation Agreement shall govern any Dispute under or in connection with this Agreement.

Section 8.21 <u>Severability</u>. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

Section 8.22 <u>Interpretation</u>. The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted.

[*Signature page follows*]

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed on the date first written above by their respective duly authorized officers.

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| |
|:---|
| CUMMINS INC. |
| By: |
| Name: |
| Title: |
| ATMUS FILTRATION TECHNOLOGIES INC. |
| By: |
| Name: |
| Title: |

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*[Transition Services Agreement]*

## Exhibit 10.3

**Exhibit 10.3**

Form of

TAX MATTERS AGREEMENT

by and between

CUMMINS INC.

and

ATMUS FILTRATION TECHNOLOGIES INC.

Dated as of [●], 2023

**TABLE OF CONTENTS** 

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| | | |
|:---|:---|:---|
| Article I DEFINITIONS | Article I DEFINITIONS | 2 |
| Section 1.1 | General | 2 |
| Article II PAYMENTS AND TAX REFUNDS | Article II PAYMENTS AND TAX REFUNDS | 8 |
| Section 2.1 | U.S. Federal Income Tax Relating to Joint Returns | 8 |
| Section 2.2 | U.S. Federal Income Tax Relating to Separate Returns | 9 |
| Section 2.3 | U.S. State Tax Relating to Joint Returns | 9 |
| Section 2.4 | U.S. State Tax Relating to Separate Returns | 9 |
| Section 2.5 | Foreign Tax Relating to Joint Returns | 9 |
| Section 2.6 | Foreign Tax Relating to Separate Returns | 10 |
| Section 2.7 | Certain Transaction Taxes | 10 |
| Section 2.8 | Determination of Tax Attributable to the Filtration Business | 10 |
| Section 2.9 | Excluded Taxes | 11 |
| Section 2.10 | Tax Refunds | 11 |
| Section 2.11 | Tax Benefits | 12 |
| Section 2.12 | Prior Agreements | 12 |
| Article III PREPARATION AND FILING OF TAX RETURNS | Article III PREPARATION AND FILING OF TAX RETURNS | 12 |
| Section 3.1 | Cummins' Responsibility | 12 |
| Section 3.2 | Filtration's Responsibility | 12 |
| Section 3.3 | Right To Review Tax Returns | 13 |
| Section 3.4 | Cooperation | 13 |
| Section 3.5 | Tax Reporting Practices | 14 |
| Section 3.6 | Payment of Taxes | 15 |
| Section 3.7 | Amended Returns and Carrybacks | 15 |
| Section 3.8 | Tax Attributes | 16 |
| Article IV TAX-FREE STATUS OF THE DISTRIBUTION | Article IV TAX-FREE STATUS OF THE DISTRIBUTION | 16 |
| Section 4.1 | Representations and Warranties | 16 |
| Section 4.2 | Restrictions Relating to the Distribution | 17 |
| Article V INDEMNITY OBLIGATIONS | Article V INDEMNITY OBLIGATIONS | 18 |
| Section 5.1 | Indemnity Obligations | 18 |
| Section 5.2 | Indemnification Payments | 18 |
| Section 5.3 | Payment Mechanics | 19 |
| Section 5.4 | Treatment of Payments | 19 |
| Section 5.5 | Tax Gross-Up | 19 |

---

i

---

| | | |
|:---|:---|:---|
| Article VI TAX CONTESTS | Article VI TAX CONTESTS | 20 |
| Section 6.1 | Notice | 20 |
| Section 6.2 | Separate Returns | 20 |
| Section 6.3 | Joint Returns and Separation Related Tax Contests | 20 |
| Section 6.4 | Obligation of Continued Notice | 20 |
| Article VII COOPERATION | Article VII COOPERATION | 21 |
| Section 7.1 | General | 21 |
| Section 7.2 | Consistent Treatment | 22 |
| Article VIII RETENTION OF RECORDS; ACCESS | Article VIII RETENTION OF RECORDS; ACCESS | 22 |
| Section 8.1 | Retention of Records | 22 |
| Section 8.2 | Access to Tax Records | 22 |
| Article IX DISPUTE RESOLUTION | Article IX DISPUTE RESOLUTION | 23 |
| Section 9.1 | Negotiation | 23 |
| Section 9.2 | Independent Resolution | 23 |
| Section 9.3 | Disputed Resolution | 23 |
| Section 9.4 | Confidentiality | 24 |
| Section 9.5 | Specific Performance | 24 |
| Article X MISCELLANEOUS PROVISIONS | Article X MISCELLANEOUS PROVISIONS | 24 |
| Section 10.1 | Entire Agreement; Construction | 24 |
| Section 10.2 | Conflicting Agreements | 24 |
| Section 10.3 | Counterparts | 25 |
| Section 10.4 | Treatment of Confidential Information | 25 |
| Section 10.5 | Notices | 25 |
| Section 10.6 | Consents | 25 |
| Section 10.7 | No Waiver | 25 |
| Section 10.8 | Assignment | 26 |
| Section 10.9 | Successors and Assigns | 26 |
| Section 10.10 | Subsidiaries | 26 |
| Section 10.11 | Third Party Beneficiaries | 26 |
| Section 10.12 | Titles and Headings | 26 |
| Section 10.13 | Schedules | 26 |
| Section 10.14 | Governing Law | 26 |
| Section 10.15 | Submission to Jurisdiction | 26 |
| Section 10.16 | Waiver of Jury Trial | 26 |
| Section 10.17 | Severability | 27 |
| Section 10.18 | Interpretation | 27 |
| Section 10.19 | No Fiduciary Relationship | 27 |
| Section 10.20 | Further Assurances | 28 |
| Section 10.21 | Survival | 28 |
| Section 10.22 | Effective Date | 28 |

---

ii

**TAX MATTERS AGREEMENT**

This TAX MATTERS AGREEMENT (this "<u>Agreement</u>"), is entered into as of [●], 2023 between Cummins Inc., an Indiana corporation ("<u>Cummins</u>"), and Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Filtration</u>" and, together with Cummins, the "<u>Parties</u>"). Capitalized terms not defined in the context of which such terms are first used in this Agreement shall have the meanings assigned to such terms in <u>Section 1.1</u> or, if not assigned a meaning in <u>Section 1.1</u>, the meanings assigned to such terms in the Master Separation Agreement, dated as of [●], 2023 (the "<u>Separation Agreement</u>").

------

W I T N E S E T H:

WHEREAS, the Board of Directors of Cummins has determined that it is in the best interests of Cummins to separate Cummins' filtration business from its other businesses, creating Filtration as a new subsidiary company (the "<u>Separation</u>") and, following the Separation, to undertake an initial public offering (the "<u>IPO</u>") of Filtration;

WHEREAS, Filtration has been incorporated for these purposes and has not engaged in activities except those incidental to its formation and in preparation for the IPO;

WHEREAS, prior to the IPO, Cummins will effect certain restructuring transactions described in the Separation Plan for the purpose of aggregating the filtration business in the Filtration Group (as defined below) prior to the IPO, including the Contribution to Filtration (collectively, the "<u>Reorganization</u>");

WHEREAS, in connection with the IPO, Cummins will undertake the Debt-for-Equity Exchange, as described in the Separation Agreement;

------

WHEREAS, following the IPO, Cummins intends to effect the Distribution in a transaction, that, together with certain steps in the Reorganization, are intended to qualify as a tax-free reorganization under Sections 368(a)(1)(D) and 355 of the Code;

WHEREAS, certain members of the Cummins Group, on the one hand, and certain members of the Filtration Group, on the other hand, file certain Tax Returns on a consolidated, combined or unitary basis for certain federal, state, local and foreign Tax purposes; and

WHEREAS, the Parties desire to (a) provide for the payment of Tax liabilities and entitlement to refunds thereof, allocate responsibility for, and cooperation in, the filing of Tax Returns, and provide for certain other matters relating to Taxes, and (b) set forth certain covenants and indemnities relating to the preservation of the tax-free status of the Contribution and Distribution and certain other transactions included in the Reorganization.

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

**Article I<u><br> DEFINITIONS</u>**

Section 1.1 <u>General</u>. As used in this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) "<u>Adjustment</u>" shall mean an adjustment of any item of income, gain, loss, deduction, credit or any other item affecting Taxes of a taxpayer pursuant to a Final Determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) "<u>Affiliate</u>" shall mean, with respect to a Person, any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the specified Person. For this purpose, "control" of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through ownership of voting securities, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) "<u>Agreement</u>" shall have the meaning set forth in the preamble hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) "<u>Controlling Party</u>" shall mean, with respect to a Tax Contest, the Party entitled to control such Tax Contest pursuant to <u>Section 6.2</u> and <u>Section 6.3</u> of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) "<u>Code</u>" shall mean the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) "<u>Cummins</u>" shall have the meaning set forth in the preamble hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) "<u>Cummins Affiliated Group</u>" shall mean an affiliated group (as that term is defined in Section 1504 of the Code and the regulations thereunder) of which a member of the Cummins Group is a member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) "<u>Cummins Federal Consolidated Income Tax Return</u>" shall mean any United States federal income Tax Return for a Cummins Affiliated Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) "<u>Cummins Group</u>" shall mean Cummins and each Person that is a Subsidiary of Cummins (other than Filtration and any other member of the Filtration Group).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) "<u>Cummins Separate Return</u>" shall mean any Tax Return of or including any member of the Cummins Group (including any consolidated, combined or unitary return) that does not include any member of the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) "<u>Debt-for-Equity Exchange</u>" shall have the meaning set forth in the Recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) "<u>Distribution Date</u>" shall mean the date on which the Distribution is completed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) "<u>Distribution Taxes</u>" shall mean any Taxes incurred solely as a result of the failure of the Tax-Free Status of the Transactions of the Reorganization, the Contribution, Debt-for-Equity Exchange or the Distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) "<u>Employment Tax</u>" shall mean those Liabilities for Taxes which are allocable pursuant to the provisions of the Employee Matters Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) "<u>Excluded Taxes</u>" shall mean any Taxes to the extent expressly addressed in the Separation Agreement or an Ancillary Agreement, including, but not limited to, (a) Employment Taxes, (b) Taxes arising in connection with transition services provided pursuant to the Transition Services Agreement or any Local Services Agreement, (c) sales, use, excise, customs, export, import, commodity and/or any other similar taxes imposed on the sale and supply the products pursuant to the Filtration First-Fit Supply Agreement, (d) Taxes relating to, arising out of, by reason of or otherwise in connection with (i) a breach of <u>Section 10.23</u> of the Separation Agreement or (ii) any IPO Disclosure Document, or (e) Reporting-Related Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) "<u>Federal Income Tax</u>" shall mean any Tax imposed by Subtitle A of the Code other than an Employment Tax, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) "<u>Filtration</u>" shall have the meaning set forth in the preamble hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) "<u>Filtration Disqualifying Action</u>" shall mean (a) any action (or the failure to take any action) by any member of the Filtration Group after the Distribution (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions), (b) any event (or series of events) after the Distribution involving the capital stock of Filtration or any assets of any member of the Filtration Group, or (c) any breach by any member of the Filtration Group after the Distribution of any representation, warranty or covenant made by them in this Agreement, that, in each case, would adversely affect the Tax-Free Status of the Transactions; <u>provided</u>, <u>however</u>, that the term "Filtration Disqualifying Action" shall not include any action entered into pursuant to any Ancillary Agreement (other than this Agreement) or that is undertaken pursuant to the Reorganization, the Contribution, Debt-for-Equity Exchange or the Distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) "<u>Filtration Group</u>" shall mean Filtration and each Person that will be a Subsidiary of Filtration as of immediately after the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) "<u>Filtration Separate Return</u>" shall mean any Tax Return for any Tax Period (including, for the avoidance of doubt, any Pre-IPO Period) of or including any member of the Filtration Group (including any consolidated, combined or unitary return) that does not include any member of the Cummins Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) "<u>Final Determination</u>" shall mean the final resolution of liability for any Tax for any Tax Period, by or as a result of (a) a final decision, judgment, decree or other order by any court of competent jurisdiction that can no longer be appealed, (b) a final settlement with the IRS, a closing agreement or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the Laws of other jurisdictions, which resolves the entire Tax liability for any Tax Period, (c) any allowance of a refund or credit in respect of an overpayment of Tax, but only after the expiration of all periods during which such refund or credit may be recovered by the jurisdiction imposing the Tax, or (d) any other final resolution, including by reason of the expiration of the applicable statute of limitations or the execution of a pre-filing agreement with the IRS or other Taxing Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) "<u>Foreign Tax</u>" shall mean any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) "<u>Gain Recognition Agreement</u>" shall mean a gain recognition agreement as described in Treasury Regulation Section 1.367(a)-8 or any successor provision thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24) "<u>Group</u>" shall mean either the Filtration Group or the Cummins Group, as the context requires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) "<u>Income Tax</u>" shall mean any federal, state, local or Foreign Tax determined by reference to income, profits, gains, net worth, gross receipts, or any Taxes imposed in lieu of such a Tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26) "<u>Indemnifying Party</u>" shall have the meaning set forth in <u>Section 5.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) "<u>Indemnitee</u>" shall have the meaning set forth in <u>Section 5.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28) "<u>IPO</u>" shall have the meaning set forth in the recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29) "<u>IRS</u>" shall mean the United States Internal Revenue Service or any successor thereto, including, but not limited to its agents, representatives, and attorneys.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) "<u>IRS Ruling</u>" shall mean any U.S. federal income Tax ruling and any supplements thereto, issued to Cummins by the IRS in connection with the Reorganization, the Separation, the Distribution and any related transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) "<u>IRS Ruling Request</u>" shall mean any letter filed by Cummins with the IRS requesting a ruling regarding certain tax consequences of the Reorganization, the Separation, the Distribution and any related transaction and any amendment or supplement to such ruling request letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32) "<u>Joint Return</u>" shall mean any Tax Return that actually includes, by election or otherwise, one or more members of the Cummins Group together with one or more members of the Filtration Group, including any entity that is a predecessor or successor (including an "acquiring corporation" within the meaning of Section 381 of the Code) to a member of the Cummins Group or the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33) "<u>Measurement Date</u>" shall mean the last day of the month that precedes the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) "<u>Non-Controlling Party</u>" shall mean, with respect to a Tax Contest, the Party that is not entitled to control such Tax Contest pursuant to <u>Section 6.2</u> and <u>Section 6.3</u> of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) "<u>Parties</u>" shall have the meaning set forth in the preamble hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) "<u>Past Practices</u>" shall have the meaning set forth in <u>Section 3.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37) "<u>Post-IPO Period</u>" shall mean any Tax Period (or portion thereof) beginning after the Measurement Date, including for the avoidance of doubt, the portion of any Straddle Period beginning after the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38) "<u>Pre-IPO Period</u>" shall mean any Tax Period (or portion thereof) ending on or before the Measurement Date, including for the avoidance of doubt, the portion of any Straddle Period ending at the end of the day on the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39) "<u>Prohibited Acts</u>" shall have the meaning set forth in <u>Section 4.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40) "<u>Property Tax</u>" shall mean any real, personal and intangible ad valorem Tax imposed by any Taxing Authority incident to the ownership of property, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41) "<u>Proposed Acquisition Transaction</u>" shall mean a transaction or series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulation Section 1.355-7, or any other regulations promulgated thereunder, to enter into a transaction or series of transactions), whether such transaction is supported by Filtration management or shareholders, is a hostile acquisition, or otherwise, as a result of which Filtration (or any successor thereto) would merge or consolidate with any other Person or as a result of which one or more Persons would (directly or indirectly) acquire, or have the right to acquire, from Filtration (or any successor thereto) or one or more holders of Filtration Common Stock, respectively, any amount of stock of Filtration, that would, when combined with any other direct or indirect changes in ownership of the stock of Filtration pertinent for purposes of Section 355(e) of the Code and the Treasury Regulations promulgated thereunder, comprise fifty percent (50%) or more of (a) the value of all outstanding shares of Filtration as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series, or (b) the total combined voting power of all outstanding shares of voting stock of Filtration as of the date of the such transaction, or in the case of a series of transactions, the date of the last transaction of such series. Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (i) the adoption by Filtration of a shareholder rights plan or (ii) issuances by Filtration that satisfy Safe Harbor VIII (relating to acquisitions in connection with a person's performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d). For purposes of determining whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and the Treasury Regulations promulgated thereunder and shall be interpreted accordingly. Any clarification of, or change in, the statute or regulations promulgated under Section 355(e) of the Code shall be incorporated in this definition and its interpretation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) "<u>Reasonable Basis</u>" shall mean reasonable basis within the meaning of Section 6662(d)(2)(B)(ii)(II) of the Code and the Treasury Regulations promulgated thereunder (or such other level of confidence required by the Code at that time to avoid the imposition of penalties).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43) "<u>Refund</u>" shall mean any (a) refund, reimbursement, offset, credit, or other similar benefit in respect of Taxes (including any overpayment of Taxes that can be refunded or, alternatively, applied against other Taxes payable) and (b) any interest paid on or with respect to any amount of the type described in clause (a) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44) "<u>Refund Recipient</u>" shall have the meaning set forth in <u>Section 2.10(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) "<u>Reorganization</u>" shall have the meaning set forth in the recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46) "<u>Responsible Party</u>" shall mean, with respect to any Tax Return, the Party having responsibility for preparing and filing such Tax Return pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47) "<u>Restricted Period</u>" shall mean the period which begins with the Distribution Date and ends two (2) years thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48) "<u>Separate Return</u>" shall mean a Cummins Separate Return or a Filtration Separate Return, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49) "<u>Separation</u>" shall have the meaning set forth in the recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50) "<u>Separation Agreement</u>" shall have the meaning set forth in the preamble hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51) "<u>Separation Plan</u>" shall mean the Project Phoenix Global Step Plan, dated the day prior to the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52) "<u>Separation Related Tax Contest</u>" means any Tax Contest in which the IRS, another Taxing Authority or any other party asserts a position that could reasonably be expected to adversely affect, jeopardize or prevent (a) the Tax-Free Status of the Transactions, or (b) a transaction pursuant to the Separation Plan (other than a transaction described in clause (a)) to have the Tax treatment intended pursuant to the Separation Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53) "<u>Straddle Period</u>" shall mean any taxable year or other Tax Period that begins on or before the Measurement Date and ends after the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54) "<u>State Tax</u>" shall mean any Tax imposed by any State of the United States or by any political subdivision of any such State, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55) "<u>Tax</u>" or "<u>Taxes</u>" shall mean (a) all taxes, charges, fees, duties, levies, imposts, rates or other assessments or governmental charges of any kind imposed by any federal, state, local or non-United States Taxing Authority, including, without limitation, income, gross receipts, employment, estimated, excise, escheat or unclaimed property, severance, stamp, occupation, premium, windfall profits, environmental, custom duties, property, sales, use, license, services, digital services, capital stock, transfer, franchise, registration, payroll, withholding (to the extent not related to employment), social security, unemployment, disability, VAT, import, export, ad valorem, alternative or add-on minimum or other taxes (including any fee, assessment, or other charge in the nature of or in lieu of any tax), imposed by any Taxing Authority, whether disputed or not, and including any interest, penalties, charges or additions attributable thereto, (b) liability for the payment of any amount of the type described in clause (a) above arising as a result of being (or having been) a member of any group or being (or having been) included or required to be included in any Tax Return related thereto, and (c) liability for the payment of any amount of the type described in clauses (a) or (b) above as a result of any express or implied obligation to indemnify or otherwise assume or succeed to the liability of any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56) "<u>Tax Attribute</u>" shall mean net operating losses, capital losses, research and experimentation credit carryovers, investment tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall foreign losses, overall domestic losses, previously taxed income, separate limitation losses and any other losses, deductions, credits or other comparable items that could affect a Tax liability for a past or future Tax Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57) "<u>Tax Benefit</u>" shall mean, with respect to a Tax Period, the amount by which the cash Tax liability of an entity (or of the consolidated or combined group of which it is a member) is reduced solely as a result of a Tax Item, or the amount of an actual Tax Refund that is generated solely as a result of such Tax Item (plus any related interest received from any Taxing Authority), in either case, by comparing the cash Tax liability or actual Tax Refund on the applicable Tax Return that would arise with and without the Tax Item potentially giving rise to the Tax Benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58) "<u>Tax Certificates</u>" shall mean any certificates of officers of Cummins or Filtration provided to KPMG or any other law or accounting firm in connection with any Tax Opinion issued in connection with the Reorganization or Distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59) "<u>Tax Contest</u>" shall have the meaning set forth in <u>Section 6.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60) "<u>Tax-Free Status of the Transactions</u>" shall mean the qualification of (a) the Contribution, the Debt-for-Equity Exchange and the Distribution, taken together, (i) as a reorganization described in Sections 368(a)(1)(D) and 355(a) of the Code, (ii) as a transaction in which the stock distributed thereby is "qualified property" for purposes of Sections 355(c) and 361(c) of the Code, (iii) as a transaction in which Cummins will recognize no income or gain for U.S. federal income Tax purposes with respect to the receipt of the Consideration by reason of Sections 355 and 361 of the Code, and (iv) as a transaction in which Cummins, Filtration and the holders of Cummins Common Stock recognize no income or gain for U.S. federal income Tax purposes pursuant to Sections 355, 361 and 1032 of the Code, other than, in the case of Cummins and Filtration, intercompany items or excess loss accounts taken into account pursuant to the Treasury Regulations promulgated pursuant to Section 1502 of the Code; and (b) the transactions described in the Separation Plan as being free from Tax to the extent set forth therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61) "<u>Tax Item</u>" shall mean any item of income, gain, loss, deduction, or credit, or any other item (including the basis or adjusted basis of property) which increases or decreases Taxes paid or payable in any taxable period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62) "<u>Tax Law</u>" shall mean the law of any Taxing Authority or political subdivision thereof relating to any Tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) "<u>Tax Materials</u>" shall have the meaning set forth in <u>Section 4.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64) "<u>Tax Opinion</u>" shall mean any written opinion of KPMG or any other law or accounting firm regarding certain tax consequences of certain transactions executed as part of the Reorganization and the Distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65) "<u>Tax Period</u>" shall mean, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66) "<u>Tax Records</u>" shall have the meaning set forth in <u>Section 8.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67) "<u>Tax-Related Losses</u>" shall mean (a) all Taxes (including interest and penalties thereon) imposed pursuant to any settlement, Final Determination, judgment, or otherwise; (b) all accounting, legal and other professional fees, and court costs incurred in connection with such Taxes, as well as any other out-of-pocket costs incurred in connection with such Taxes; and (c) all costs, expenses and damages associated with stockholder litigation or controversies and any amount paid by Cummins (or any of its Affiliates) or Filtration (or any of its Affiliates) in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Taxing Authority, in each case, resulting from the failure of the Reorganization, Debt-for-Equity Exchange, Distribution, or any transaction associated therewith to qualify for the Tax-Free Status of the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68) "<u>Tax Return</u>" shall mean any return, report, certificate, form or similar statement or document (including any related supporting information or schedule attached thereto and any information return, amended tax return, claim for refund or declaration of estimated tax) supplied to or filed with, or required to be supplied to or filed with, a Taxing Authority, or any bill for or notice related to ad valorem or other similar Taxes received from a Taxing Authority, in each case, in connection with the determination, assessment or collection of any Tax or the administration of any laws, regulations or administrative requirements relating to any Tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69) "<u>Taxing Authority</u>" shall mean any governmental authority or any subdivision, agency, commission or entity thereof or any quasi-governmental or private body having jurisdiction over the assessment, determination, collection or imposition of any Tax (including the IRS).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70) "<u>Transaction Taxes</u>" shall mean, without duplication, all (a) sales, use, transfer, real property transfer, intangible, recordation, registration, documentary, stamp or similar Taxes imposed with respect to the Separation or Distribution, and (b) Taxes imposed on gains realized with respect to the steps taken pursuant to the Separation Plan, including in each case, any withholding in respect of such Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71) "<u>Treasury Regulations</u>" shall mean the regulations promulgated from time to time under the Code as in effect for the relevant Tax Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72) "<u>Unqualified Tax Opinion</u>" shall mean a "will" opinion, without substantive qualifications, of a mutually agreed upon nationally recognized law or accounting firm, to the effect that a transaction will not affect the Tax-Free Status of the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73) "<u>VAT</u>" means (a) any Tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112) and any other Tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, such Tax; (b) all goods and services tax and harmonized sales tax imposed under Part IX of the Excise Tax Act (Canada) and (c) any Tax of a similar nature to those described in clause (a) or clause (b) imposed elsewhere.

**Article II<u><br> PAYMENTS AND TAX REFUNDS</u>**

Section 2.1 <u>U.S. Federal Income Tax Relating to Joint Returns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) for all Pre-IPO Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the Filtration Business for all Post-IPO Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Cummins shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) other than those Federal Income Taxes described in <u>Section 2.1(b)</u> for all Post-IPO Periods.

Section 2.2 <u>U.S. Federal Income Tax Relating to Separate Returns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Cummins Separate Return (including any increase in such Tax as a result of a Final Determination) for all Tax Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay and be responsible for any and all Federal Income Taxes due with respect to or required to be reported on any Filtration Separate Return (including any increase in such Tax as a result of a Final Determination) for all Tax Periods.

Section 2.3 <u>U.S. State Tax Relating to Joint Returns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) for all Pre-IPO Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the Filtration Business for all Post-IPO Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Cummins shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) other than those State Taxes described in <u>Section 2.3(b)</u> for all Post-IPO Periods.

Section 2.4 <u>U.S. State Tax Relating to Separate Returns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Cummins Separate Return (including any increase in such Tax as a result of a Final Determination) for all Tax Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay and be responsible for any and all State Taxes due with respect to or required to be reported on any Filtration Separate Return (including any increase in such Tax as a result of a Final Determination) for all Tax Periods.

Section 2.5 <u>Foreign Tax Relating to Joint Returns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall pay and be responsible for any and all Foreign Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) for all Pre-IPO Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay and be responsible for any and all Foreign Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) which Taxes are attributable to the Filtration Business for all Post-IPO Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Cummins shall pay and be responsible for any and all Foreign Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) other than those Foreign Taxes described in <u>Section 2.5(b)</u> for all Post-IPO Periods.

Section 2.6 <u>Foreign Tax Relating to Separate Returns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall pay and be responsible for any and all Foreign Taxes due with respect to or required to be reported on any Cummins Separate Return (including any increase in such Tax as a result of a Final Determination) for all Tax Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay and be responsible for any and all Foreign Taxes due with respect to or required to be reported on any Filtration Separate Return (including any increase in such Tax as a result of a Final Determination) for all Tax Periods.

Section 2.7 <u>Certain Transaction Taxes</u>. Notwithstanding the provisions set forth in <u>Sections 2.1</u>, <u>2.2</u>, <u>2.3</u>, <u>2.4</u>, <u>2.5</u>, and <u>2.6</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall pay and be responsible for any Transaction Taxes other than Transaction Taxes incurred as a result of (i) Filtration's breach of any obligation under the Separation Agreement, this Agreement, or any Ancillary Agreement, or (ii) Filtration undertaking any action described in <u>Section 4.2(a)</u> or <u>Section 4.2(b)</u> (without regard to whether an Unqualified Tax Opinion may have been provided or whether Cummins consents to any such action).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay and be responsible for any Transaction Taxes incurred as a result of (i) Filtration's breach of any obligation under the Separation Agreement, this Agreement, or any Ancillary Agreement, or (ii) Filtration undertaking any action described in <u>Section 4.2(a)</u> or <u>Section 4.2(b)</u> (without regard to whether an Unqualified Tax Opinion may have been provided or whether Cummins consents to any such action).

Section 2.8 <u>Determination of Tax Attributable to the Filtration Business</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For purposes of <u>Section 2.1(b)</u>, the amount of Federal Income Taxes attributable to the Filtration Business for any Tax Period shall be reasonably determined by Cummins on a pro forma Filtration Group consolidated return prepared by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) including only Tax Items of members of the Filtration Group that were included in the relevant Cummins Federal Consolidated Income Tax Return;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) except as provided in <u>Section 2.8(a)(iv)</u> hereof, using all elections, accounting methods and conventions used on the relevant Cummins Federal Consolidated Income Tax Return for such Tax Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) applying the highest statutory marginal corporate income Tax rate in effect for such Tax Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) assuming that the Filtration Group elects not to carry back any net operating losses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The amount of State Taxes and Foreign Taxes attributable to the Filtration Business shall be as reasonably determined by Cummins in a manner consistent with the principles of <u>Section 2.8(a)</u>, to the extent relevant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For any Straddle Period, Taxes for the Pre-IPO Period shall be computed (i) in the case of Taxes imposed on a periodic basis, on a daily pro rata basis, and (ii) in the case of other Taxes generally, as if the Tax Period ended as of the close of business on the Measurement Date. For the avoidance of doubt, in the event that Property Taxes are imposed with respect to property that is owned by both a member of the Cummins Group and a member of the Filtration Group during a Tax Period, the amount of Property Taxes for which each of Cummins and Filtration is liable shall be computed on a daily pro rata basis with respect to the number of days the Cummins Group member and the Filtration Group member, respectively, owned the property. For purposes of determining the amount of any Taxes that are imposed as a result of any inclusion under Sections 951 or 951A of the Code (or any corresponding or similar provision of state or local Tax Law) in respect of Straddle Period income of any member of the Cummins Group or Filtration Group that is organized or incorporated outside the United States, the amount of Straddle Period income of any non-U.S. Subsidiary of the Company that is attributable to a Pre-IPO Period shall be computed on a "closing-of-the-books" basis as if any relevant Straddle Period of such non-U.S. Subsidiary ended at the close of business on the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Cummins shall use reasonable efforts to make a draft of the relevant pro forma Filtration Group consolidated return prepared pursuant to Section 2.8(a) or determination of State Taxes and Foreign Taxes made pursuant to Section 2.8(b) available to Filtration for its review and comment promptly once such draft pro forma Filtration Group consolidated return or determination is materially complete and notify Filtration to the extent that it varies from past practices, accounting methods, elections and conventions. Filtration shall provide any comments to such draft pro forma Filtration Group consolidated return or determination of State Taxes or Foreign Taxes to Cummins no later than thirty (30) days after the receipt of such draft pro forma Filtration Group consolidated return or determination from Cummins and Cummins shall consider in good faith any reasonable comments to such draft pro forma Filtration Group consolidated return or determination that are timely provided by Filtration.

Section 2.9 <u>Excluded Taxes</u>. Notwithstanding anything herein to the contrary, Liability for Excluded Taxes shall be determined pursuant to the Separation Agreement or relevant Ancillary Agreement, as applicable.

Section 2.10 <u>Tax Refunds</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall be entitled to all Refunds related to Taxes the liability for which is allocated to Cummins pursuant to this Agreement. Filtration shall be entitled to all Refunds related to Taxes the liability for which is allocated to Filtration pursuant to this Agreement; <u>provided</u>, <u>however</u>, Cummins shall not be obligated to pay Filtration for any single Refund or aggregated Refunds until the amount of such Refunds exceeds $25,000 ("<u>De Minimis Threshold</u>"). Upon exceeding the De Minimis Threshold, the entire amount of such Refunds from the first dollar shall be payable to Filtration. For avoidance of doubt, the De Minimis Threshold shall reset after Cummins pays applicable Refunds to Filtration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall pay to Cummins any Refund received by Filtration or any member of the Filtration Group that is allocable to Cummins pursuant to <u>Section 2.10(a)</u> no later than thirty (30) days after the receipt of such Refund. Cummins shall pay to Filtration any Refund received by Cummins or any member of the Cummins Group that is allocable to Filtration pursuant to this <u>Section 2.10</u> no later than thirty (30) days after the receipt of such Refund. For purposes of this <u>Section 2.10</u>, any Refund that arises as a result of an offset, credit, or other similar benefit in respect of Taxes other than a receipt of cash shall be deemed to be received on the earlier of (i) the date on which a Tax Return is filed claiming such offset, credit, or other similar benefit and (ii) the date on which payment of the Tax which would have otherwise been paid absent such offset, credit, or other similar benefit is due (determined without taking into account any applicable extensions). Notwithstanding anything herein to the contrary, the amount of any Refund required to be paid pursuant to this <u>Section 2.10(b)</u> shall be net of (i) any reasonable costs incurred in securing such Refund and (ii) any Taxes imposed by any Taxing Authority on, related to, or attributable to, the receipt of or accrual of such Refund, including any Taxes imposed by way of withholding or offset.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If any Party (the "<u>Refund Recipient</u>") receives a Refund that it is required to pay over to the other Party pursuant to this <u>Section 2.10</u>, such other Party, upon the request of the Refund Recipient, shall repay to the Refund Recipient the amount paid to the other Party (plus any penalties, interest or other charges imposed by the relevant Taxing Authority) in the event such Refund Recipient is required by applicable Law to repay such Refund.

Section 2.11 <u>Tax Benefits</u>. If Cummins determines, in its good faith discretion, that: (a) one Party is responsible for a Tax pursuant to this Agreement or under applicable Law; and (b) the other Party is entitled to a deduction, credit or other Tax benefit relating to such Tax, then the Party entitled to such deduction, credit or other Tax benefit shall pay to the Party responsible for such Tax the amount of the Tax Benefit arising from such deduction, credit or other Tax benefit, as determined by Cummins in its good faith discretion no later than thirty (30) days after making, in the case of Cummins, or receiving notice of, in the case of Filtration, such determination.

Section 2.12 <u>Prior Agreements</u>. Except as set forth in this Agreement and in consideration of the mutual indemnities and other obligations of this Agreement, any and all prior Tax sharing or allocation agreements or practices between any member of the Cummins Group and any member of the Filtration Group shall be terminated with respect to the Filtration Group and the Cummins Group as of the Effective Date. Upon such termination, no further payments by or to any member of the Cummins Group by or to any member of the Filtration Group with respect to such agreements shall be made, and all other rights and obligations resulting from such agreements between the Cummins Group and the Filtration Group shall cease at such time. Any payments pursuant to such agreements shall be disregarded for purposes of computing amounts due under this Agreement; <u>provided</u> that, to the extent appropriate, payments made pursuant to such agreements shall be credited to Cummins or Filtration, respectively, in computing their respective obligations pursuant to this Agreement, in the event that such payments relate to a Tax liability that is the subject matter of this Agreement for a Tax Period that is the subject matter of this Agreement. For the avoidance of doubt, neither the Separation Agreement nor any Ancillary Agreement shall be considered a Tax sharing or allocation agreement or practice for purposes of this Section 2.12.

**Article III<u><br> PREPARATION AND FILING OF TAX RETURNS</u>**

Section 3.1 <u>Cummins' Responsibility</u>. Cummins shall prepare and file (or cause to be prepared and filed) when due (taking into account any applicable extensions) all Joint Returns and all Cummins Separate Returns, including any amended Joint Returns or amended Cummins Separate Returns. Notwithstanding the foregoing, with respect to any Joint Return with respect to Foreign Taxes, to the extent that any expenses related to a previously filed Joint Return for similar Foreign Taxes were customarily paid by a member of the Filtration Group, as determined by Cummins in its discretion, then any similar expenses shall be borne by Filtration, including, for the avoidance of doubt, any expenses related to the preparation of transfer pricing documentation.

Section 3.2 <u>Filtration's Responsibility</u>. Filtration shall prepare and file (or cause to be prepared and filed) when due (taking into account any applicable extensions) all Tax Returns required to be filed by or with respect to members of the Filtration Group other than those Tax Returns which Cummins is required to prepare and file under <u>Section 3.1</u> including any amended Tax Returns. The Tax Returns required to be prepared and filed by Filtration under this <u>Section 3.2</u> shall include any Filtration Separate Returns and any amended Filtration Separate Returns.

Section 3.3 <u>Right To Review Tax Returns</u>. To the extent that the positions taken on any Tax Return would reasonably be expected to materially affect the Tax position or Tax Return of the Party other than the Responsible Party pursuant to <u>Section 3.1</u> or <u>Section 3.2</u> (the "<u>Reviewing Party</u>"), the Responsible Party shall, with respect to such Tax positions,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consult with the Reviewing Party with respect to such Tax positions on the portions of such Tax Return that relate to the business of the Reviewing Party (the Cummins Retained Business or the Filtration Business, as the case may be),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) use reasonable efforts to make a draft of the relevant portions of such Tax Return (or the relevant portions thereof), workpapers and other supporting documents available to the Reviewing Party for its review and comment at least thirty (30) days prior to the due date for such Tax Return (taking into account extensions), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) consider in good faith any reasonable comments (to the extent relating to such Tax positions) that are timely provided by the Reviewing Party on the relevant portion of such Tax Return reasonably in advance of the due date for filing such Tax Return (taking into account extensions).

The Responsible Party and the Reviewing Party shall attempt in good faith to resolve any disagreement arising out of the review of any Tax Return, or portion thereof, pursuant to this <u>Section 3.3</u>. For the avoidance of doubt, any dispute among the Parties with respect to compliance with the requirements of this <u>Section 3.3</u> shall be resolved in accordance with the dispute resolution provisions of <u>Article IX</u> as promptly as practicable. Notwithstanding anything herein to the contrary, with respect to any (1) Tax Return required to be filed before the Distribution Date (taking into account valid extensions) with respect to which Cummins is the Responsible Party, and (2) Cummins Federal Consolidated Income Tax Return, Cummins shall, in each case, consider Filtration's comments in good faith but shall not be required to accept such comments.

Section 3.4 <u>Cooperation</u>. The Parties shall provide, and shall cause their Affiliates to provide, assistance and cooperation to one another in accordance with <u>Article VII</u> with respect to the preparation and filing of Tax Returns, including providing information required to be provided in <u>Article VIII</u>. Notwithstanding any provision of this Agreement to the contrary, Cummins shall not be required to disclose to Filtration any consolidated, combined, unitary, or other similar Joint Return of which a member of the Cummins Group is the common parent or any information related to such a Joint Return other than information relating solely to the Filtration Group; <u>provided</u>, <u>however</u>, that Cummins shall provide such additional information that is reasonably required in order for Filtration to determine the Taxes attributable to the Filtration Business. If an amended Separate Return for State Taxes for which Filtration is responsible under this <u>Article II</u> is required to be filed as a result of an amendment made to a Joint Return for Federal Income Tax pursuant to an audit adjustment, then the Parties shall cooperate to ensure that such amended Separate Return can be prepared and filed in a manner that preserves confidential information including through the use of third party preparers.

Section 3.5 <u>Tax Reporting Practices</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as provided in <u>Section 3.6</u>, with respect to any Tax Return for any Tax Period that begins on or before the second anniversary of the Distribution Date with respect to which Filtration is the Responsible Party, such Tax Return shall be prepared in a manner (i) consistent with past practices, accounting methods, elections and conventions ("<u>Past Practices</u>") used with respect to the Tax Returns in question (unless there is no Reasonable Basis for the use of such Past Practices), and to the extent any items are not covered by Past Practices (or in the event that there is no Reasonable Basis for the use of such Past Practices), in accordance with reasonable Tax accounting practices selected by Filtration; and (ii) that, to the extent consistent with clause (i), minimizes the overall amount of Taxes due and payable on such Tax Return for all of the Parties by cooperating in making such elections or applications for group or other relief or allowances available in the taxing jurisdiction in which such Tax Return is filed. Filtration shall not take any action inconsistent with the assumptions (including items of income, gain, deduction, loss and credit) made in determining all estimated or advance payments of Taxes on or prior to the Distribution Date. In addition, Filtration shall not be permitted, and shall not permit any member of the Filtration Group, to make a change in any of its methods of accounting for tax purposes until all applicable statutes of limitations for all Tax Periods (or portions thereof) ending on or before the Distribution Date have expired, unless Cummins provides its prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Tax treatment of any step in or portion of the Reorganization and the Distribution shall be reported on each applicable Tax Return consistently with the Tax-Free Status of the Transactions, taking into account the jurisdiction in which such Tax Returns are filed, unless there is no Reasonable Basis for such Tax treatment. In the event that a Party shall determine that there is no Reasonable Basis for such Tax treatment, such Party shall notify the other Party no later than twenty (20) Business Days prior to filing the relevant Tax Return and the Parties shall attempt in good faith to agree on the manner in which the relevant portion of the Reorganization and the Distribution shall be reported. If the Parties cannot reach a resolution, the dispute will be resolved in accordance with <u>Article IX</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Cummins shall have the right to determine, in its sole discretion, whether to make elections to shorten or lengthen the Tax year of any entity listed on <u>Schedule A</u> or make a protective election under Section 336(e) of the Code. If Cummins determines, in its discretion, that a protective election under Section 336(e) of the Code shall be made with respect to the Distribution, Filtration agrees to take any such action that is necessary to effect such election, including any corresponding election with respect to any of its Subsidiaries, as determined by Cummins. If Cummins reasonably determines that the Filtration Group actually realizes a Tax Benefit with respect to a protective election under Section 336(e) of the Code made pursuant to this <u>Section 3.5(c)</u>, Filtration shall promptly remit to Cummins any such Tax Benefit on an "as and when" realized basis; <u>provided</u>, <u>however</u>, that Filtration shall not be required to remit such Tax Benefit with respect to Taxes or Tax Attributes allocated to a member of the Filtration Group under this Agreement, as determined by Cummins in its discretion. If Filtration pays any amount to Cummins under this <u>Section 3.5(c)</u> and, as a result of a subsequent Final Determination, a Tax Benefit that gave rise to such payment is subsequently disallowed, Filtration shall notify Cummins of the amount to be repaid to Filtration, and Cummins shall then repay such amount to Filtration, together with any interest, fines, additions to Tax, penalties, or any additional amounts imposed by a Taxing Authority relating thereto.

Section 3.6 <u>Payment of Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) With respect to any Tax Return required to be filed pursuant to this Agreement, the Responsible Party shall remit or cause to be remitted to the applicable Taxing Authority in a timely manner any Taxes due in respect of any such Tax Return.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the case of any Tax Return for which the Party that is not the Responsible Party is obligated pursuant to this Agreement to pay all or a portion of the Taxes reported as due on such Tax Return, the Responsible Party shall notify the other Party, in writing, of its obligation to pay such Taxes and, in reasonably sufficient detail, its calculation of the amount due by such other Party and the Party receiving such notice shall pay such amount to the Responsible Party upon the later of five (5) Business Days prior to the date on which such payment is due and fifteen (15) Business Days after the receipt of such notice.

Section 3.7 <u>Amended Returns and Carrybacks</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Filtration shall not, and shall not permit any member of the Filtration Group to, file or allow to be filed any request for an Adjustment for any Tax Period (or portion thereof) ending on or before the Distribution Date (including for the avoidance of doubt, the portion of any Straddle Period ending at the end of the day on the Distribution Date) without the prior written consent of Cummins, such consent to be exercised in Cummins' discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall, and shall cause each member of the Filtration Group to, make any available elections to waive the right to carry back any Tax Attribute (i) from a Tax Period or portion thereof ending after the Measurement Date to a Joint Return in respect of a Tax Period or portion thereof ending on or before the Measurement Date and (ii) from a Tax Period or portion thereof ending after the Distribution Date to a Joint Return in respect of a Tax Period or portion thereof ending on or before the Distribution Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Filtration shall not, and shall cause each member of the Filtration Group not to, without the prior written consent of Cummins, make any affirmative election to carry back any Tax Attribute (i) from a Tax Period or portion thereof ending after the Measurement Date to a Joint Return in respect of a Tax Period or portion thereof ending on or before the Measurement Date or (ii) from a Tax Period or portion thereof ending after the Distribution Date to a Joint Return in respect of a Tax Period or portion thereof ending on or before the Distribution Date, in each case, such consent to be exercised in Cummins' discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If, notwithstanding the provisions of <u>Section 3.7(b)</u> and <u>Section 3.7(c)</u>, Filtration is required by Law to carry back a Tax Attribute to a Pre-IPO Period, Cummins shall promptly remit to Filtration any Tax Benefit that the Cummins Group actually realizes with respect to any such carryback on an "as and when" realized basis; <u>provided</u>, <u>however</u>, that Cummins shall not be required to remit such Tax Benefit with respect to any such carryback arising from Taxes or Tax Attributes allocated to a member of the Cummins Group under this Agreement, as determined by Cummins in its discretion. If Filtration has a Tax Attribute that must be carried back to any Pre-IPO Period, Filtration shall notify Cummins in writing that such Tax Attribute must be carried back. Such notification shall include a description in reasonable detail of the basis for any Tax Benefit and the amount thereof, and a certification by an appropriate officer of Filtration setting forth Filtration's belief (together with supporting analysis prepared by a professional Tax advisor) that the Tax treatment of such Tax Attribute is more likely than not correct. If Cummins pays any amount to Filtration under this <u>Section 3.7(d)</u> and, as a result of a subsequent Final Determination, a Tax Benefit that gave rise to such payment is subsequently disallowed, Cummins shall notify Filtration of the amount to be repaid to Cummins, and Filtration shall then repay such amount to Cummins, together with any interest, fines, additions to Tax, penalties, or any additional amounts imposed by a Taxing Authority relating thereto. For purposes of this Agreement, a Tax Benefit shall be deemed to have been realized at the time any actual Refund of Taxes is received or applied against other cash Taxes due, or at the time of filing a Tax Return (including a Tax Return relating to estimated Taxes) on which a Tax Item is applied in reduction of cash Taxes that would otherwise be payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Receipt of consent by Filtration or a member of the Filtration Group from Cummins pursuant to the provisions of this <u>Section 3.7</u> shall not limit or modify Filtration's continuing indemnification obligation pursuant to <u>Article V</u>.

Section 3.8 <u>Tax Attributes</u>. Cummins shall in good faith advise Filtration in writing of the amount, if any, of any Tax Attributes, which Cummins determines, in its good faith discretion, shall be allocated or apportioned to the Filtration Group in accordance with Past Practice unless otherwise required under applicable Law. Filtration and all members of the Filtration Group shall prepare all Tax Returns in accordance with such written notice. Filtration agrees that it shall not dispute Cummins' allocation or apportionment of Tax Attributes. For the avoidance of doubt, Cummins shall not be required to create or cause to be created any books and records or reports or other documents based thereon (including, without limitation, "earnings & profits studies," "basis studies" or similar determinations) that it does not maintain or prepare in the ordinary course of business in order to comply with this <u>Section 3.8</u>. The allocations made under this <u>Section 3.8</u> shall be revised by Cummins, in its discretion, to reflect each subsequent Final Determination or change in Law that affects such allocations or the amounts of Tax Attributes available for allocation. Notwithstanding any provision of this Agreement to the contrary, for the avoidance of doubt, the Parties agree that Cummins is not warranting or guaranteeing the amount of any such Tax Attributes and Cummins shall not be liable to any member of the Filtration Group for any failure of any determination under this <u>Section 3.8</u> to be accurate under applicable Law.

**Article IV<u><br> TAX-FREE STATUS OF THE DISTRIBUTION</u>**

Section 4.1 <u>Representations and Warranties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins, on behalf of itself and all other members of the Cummins Group, hereby represents and warrants that (i) it has examined the IRS Ruling, the IRS Ruling Request and any other materials delivered or deliverable in connection with the issuance of the IRS Ruling and the Tax Certificates (collectively, the "<u>Tax Materials</u>"), and (ii) the facts presented and representations that have been or will be made therein, to the extent descriptive of or otherwise relating to Cummins or any member of the Cummins Group or the Cummins Retained Business, were or will be, at the time presented or represented and from such time until and including the Distribution Date, true, correct, and complete in all material respects. Cummins, on behalf of itself and all other members of the Cummins Group, hereby confirms and agrees to comply with any and all covenants and agreements in the Tax Materials applicable to Cummins or any member of the Cummins Group or the Cummins Retained Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration, on behalf of itself and all other members of the Filtration Group, hereby represents and warrants that (i) it has examined the Tax Materials, and (ii) the facts presented and representations that have been or will be made therein, to the extent descriptive of or otherwise relating to Filtration or any member of the Filtration Group or the Filtration Business, were or will be, at the time presented or represented and from such time until and including the Distribution Date, true, correct, and complete in all material respects. Filtration, on behalf of itself and all other members of the Filtration Group, hereby confirms and agrees to comply with any and all covenants and agreements in the Tax Materials applicable to Filtration or any member of the Filtration Group or the Filtration Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each of Cummins, on behalf of itself and all other members of the Cummins Group, and Filtration, on behalf of itself and all other members of the Filtration Group, represents and warrants that it knows of no fact (after due inquiry) that may cause the Tax treatment of the Reorganization, the Debt-for-Equity Exchange or the Distribution to be other than the Tax-Free Status of the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each of Cummins, on behalf of itself and all other members of the Cummins Group, and Filtration, on behalf of itself and all other members of the Filtration Group, represents and warrants that it has no plan or intent to take any action which is inconsistent with any statements or representations made in the Tax Materials.

Section 4.2 <u>Restrictions Relating to the Distribution</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Filtration, on behalf of itself and all other members of the Filtration Group, hereby covenants and agrees that no member of the Filtration Group will take, fail to take, or permit to be taken any action where such action or failure to act (i) would be inconsistent with or cause to be untrue any statement, information, covenant or representation in the Tax Materials; or (ii) constitutes a Filtration Disqualifying Action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) During the Restricted Period, Filtration:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) shall continue and cause to be continued the active conduct of the Filtration Business for purposes of Section 355(b)(2) of the Code, taking into account Section 355(b)(3) of the Code, as conducted immediately prior to the Distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) shall not voluntarily dissolve or liquidate itself or any of its Affiliates (including any action that is a liquidation for U.S. federal income Tax purposes);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) shall not (A) enter into any Proposed Acquisition Transaction or, to the extent Filtration has the right to prohibit any Proposed Acquisition Transaction, permit any Proposed Acquisition Transaction to occur, (B) redeem or otherwise repurchase (directly or through an Affiliate) any stock, or rights to acquire stock except to the extent such repurchases satisfy Section 4.05(1)(b) of Revenue Procedure 96-30 (as in effect prior to the amendment of such Revenue Procedure by Revenue Procedure 2003-48), (C) amend its certificate of incorporation (or other organizational documents), or take any other action, whether through a stockholder vote or otherwise, affecting the relative voting rights of its capital stock (including through the conversion of any capital stock into another class of capital stock), (D) merge or consolidate with any other Person, or (E) take any other action or actions (including any action or transaction that would be reasonably likely to be inconsistent with any representation made in the Tax Certificates) which in the aggregate would, when combined with any other direct or indirect changes in ownership of Filtration capital stock pertinent for purposes of Section 355(e) of the Code, have the effect of causing or permitting one or more Persons (whether or not acting in concert) to acquire directly or indirectly stock representing a fifty-percent (50%) or greater interest in Filtration or would reasonably be expected to result in a failure to preserve the Tax-Free Status of the Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) shall not, and shall not permit any member of the Filtration Group to, sell, transfer or otherwise dispose of or agree to, sell, transfer or otherwise dispose of (including in any transaction treated for federal income Tax purposes as a sale, transfer or disposition) assets (including, any shares of capital stock of a Subsidiary) that, in the aggregate, constitute more than twenty percent (20%) of the consolidated gross assets of Filtration or the Filtration Group. The foregoing sentence shall not apply to (A) sales, transfers, or dispositions of assets in the ordinary course of business, (B) any cash paid to acquire assets from an unrelated Person in an arm's-length transaction, (C) any assets transferred to a Person that is disregarded as an entity separate from the transferor for federal income Tax purposes, or (D) any mandatory or optional repayment (or pre-payment) of any indebtedness of Filtration or any member of the Filtration Group. The percentages of gross assets or consolidated gross assets of Filtration or the Filtration Group, as the case may be, sold, transferred, or otherwise disposed of, shall be based on the fair market value of the gross assets of Filtration and the members of the Filtration Group as of the Distribution Date. For purposes of this <u>Section 4.2(b)(iv)</u>, a merger of Filtration or one of its Subsidiaries with and into any Person that is not a wholly owned Subsidiary of Filtration shall constitute a disposition of all of the assets of Filtration or such Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) shall not (A) take any action (including, but not limited to, the sale or disposition of any stock, securities, or other assets), (B) permit any member of the Filtration Group to take any such action, (C) fail to take any action, or (D) permit any member of the Filtration Group to fail to take any action, in each case that would cause Cummins or any member of the Cummins Group to recognize gain under any Gain Recognition Agreement. In addition, Filtration shall file, and shall cause any member of the Filtration Group to file, any Gain Recognition Agreement reasonably requested by Cummins which Gain Recognition Agreement is determined by Cummins to be necessary so as to (1) allow for or preserve the Tax-Free Status of the Transactions or (2) avoid Cummins or any member of the Cummins Group recognizing gain under any Gain Recognition Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding the restrictions imposed by Section 4.2(a) and (b), if Filtration notifies Cummins that it desires to take one of the actions described therein (a "<u>Notified Action</u>") during the Restricted Period, Filtration or a member of the Filtration Group may take any of the actions or transactions described therein if prior to taking such Notified Action Filtration either (i) obtains, and provides to Cummins, an Unqualified Tax Opinion in form and substance reasonably satisfactory to Cummins or (ii) obtains the prior written consent of Cummins waiving the requirement that Filtration obtain an Unqualified Tax Opinion, such waiver to be provided in Cummins's sole and absolute discretion. Cummins's evaluation of an Unqualified Tax Opinion may consider, among other factors, the appropriateness of any underlying assumptions, representations, and covenants made in connection with such opinion. Filtration shall bear all costs and expenses of securing any such Unqualified Tax Opinion and shall reimburse Cummins for all reasonable out-of-pocket expenses that Cummins or any of its Affiliates may incur in good faith in seeking to obtain or evaluate any such Unqualified Tax Opinion. Neither the delivery of an Unqualified Tax Opinion nor Cummins's waiver of Filtration's obligation to deliver an Unqualified Tax Opinion shall limit or modify Filtration's continuing indemnification obligation pursuant to Article V.

**Article V<u><br> INDEMNITY OBLIGATIONS</u>**

Section 5.1 <u>Indemnity Obligations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall indemnify and hold harmless Filtration from and against, and will reimburse Filtration for, (i) all liability for Taxes allocated to Cummins pursuant to <u>Article II</u>, (ii) all Tax-Related Losses arising out of, based upon, or relating or attributable to any breach of or inaccuracy in, or failure to perform, as applicable, any representation, covenant, or obligation of any member of the Cummins Group pursuant to this Agreement, and (iii) the amount of any Refund received by any member of the Cummins Group that is allocated to Filtration pursuant to <u>Section 2.10(a)</u> and determined in accordance with <u>Section 2.10(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without regard to whether an Unqualified Tax Opinion may have been provided or whether any action is permitted or consented to hereunder, and notwithstanding anything else to the contrary contained herein, Filtration shall indemnify and hold harmless Cummins from and against, and will reimburse Cummins for, (i) all liability for Taxes allocated to Filtration pursuant to <u>Article II</u>, (ii) all Tax-Related Losses arising out of, based upon, or relating or attributable to any breach of or inaccuracy in, or failure to perform, as applicable, any representation, covenant, or obligation of any member of the Filtration Group pursuant to this Agreement, (iii) the amount of any Refund received by any member of the Filtration Group that is allocated to Cummins pursuant to <u>Section 2.10(a)</u> and determined in accordance with <u>Section 2.10(b)</u>, and (iv) any Distribution Taxes and Tax-Related Losses arising out of, based upon, or relating or attributable to any Filtration Disqualifying Action (regardless of whether the conditions set forth in <u>Section 4.2(c)</u> are satisfied).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent that any Tax or Tax-Related Loss is subject to indemnity pursuant to both <u>Section 5.1(a)</u> and <u>Section 5.1(b)</u>, responsibility for such Tax or Tax-Related Loss shall be shared by Cummins and Filtration according to relative fault.

Section 5.2 <u>Indemnification Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as otherwise provided in this Agreement, if either Party (the "<u>Indemnitee</u>") is required to pay to a Taxing Authority a Tax or to another Person a payment in respect of a Tax that the other Party (the "<u>Indemnifying Party</u>") is liable for under this Agreement, including as the result of a Final Determination, the Indemnitee shall notify the Indemnifying Party, in writing, of its obligation to pay such Tax and, in reasonably sufficient detail, its calculation of the amount due by such Indemnifying Party to the Indemnitee, including any Tax-Related Losses attributable thereto. The Indemnifying Party shall pay such amount, including any Tax-Related Losses attributable thereto, to the Indemnitee no later than the later of (i) five (5) Business Days prior to the date on which such payment is due to the applicable Taxing Authority or (ii) fifteen (15) Business Days after the receipt of notice from the other Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If, as a result of any change or redetermination made with respect to <u>Section 2.2</u> or <u>Section 2.7</u>, any amount previously allocated to and borne by one Party pursuant to the provisions of <u>Article II</u> is thereafter allocated to the other Party, then, no later than five (5) Business Days after such change or redetermination, such other Party shall pay to such Party the amount previously borne by such Party which is allocated to such other Party as a result of such change or redetermination.

Section 5.3 <u>Payment Mechanics</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All payments under this Agreement shall be made by Cummins directly to Filtration and by Filtration directly to Cummins; <u>provided</u>, <u>however</u>, that if the Parties mutually agree with respect to any such indemnification payment, any member of the Cummins Group, on the one hand, may make such indemnification payment to any member of the Filtration Group, on the other hand, and vice versa. All indemnification payments shall be treated in the manner described in <u>Section 5.4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the case of any payment of Taxes made by a Responsible Party or Indemnitee pursuant to this Agreement for which such Responsible Party or Indemnitee, as the case may be, has received a payment from the other Party, such Responsible Party or Indemnitee shall provide to the other Party a copy of any official government receipt received with respect to the payment of such Taxes to the applicable Taxing Authority (or, if no such official governmental receipts are available, executed bank payment forms or other reasonable evidence of payment).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Without the written consent of the Party receiving any payment under this Agreement specifying otherwise, all payments to be made by either Cummins or Filtration under this Agreement shall be made in United States Dollars. Except as expressly provided herein, any amount which is not expressed in United States Dollars shall be converted into United States Dollars by using the exchange rate published on Bloomberg at 5:00 pm Eastern Standard time (EST) on the day before the relevant date or in the Wall Street Journal on such date if not so published on Bloomberg.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) With respect to any payment between the Parties pursuant to this Agreement not made by the due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate in effect for underpayments under Section 6621 of the Code from such due date to and including the payment date.

Section 5.4 <u>Treatment of Payments</u>. The Parties agree that any payment made among the Parties pursuant to this Agreement shall be treated, to the extent permitted by Law, for all United States federal income Tax purposes as either (a) a non-taxable contribution by Cummins to Filtration, or (b) a distribution by Filtration to Cummins, and, with respect to any payment made among the Parties pursuant to this Agreement after the Distribution, such payment shall be treated as having been made immediately prior to the Distribution (but only to the extent that the payment does not relate to a Tax allocated to the payor in accordance with Section 1552 of the Code or the Treasury Regulations thereunder or Treasury Regulation Section 1.1502-33(d) (or under corresponding principles of other applicable Tax Laws)) or as payments of a Filtration Liability or Cummins Retained Liability, as the case may be. Notwithstanding the foregoing, Cummins shall notify Filtration if it reasonably determines that any payment made pursuant to this Agreement is to be treated, for any Tax purposes, as a payment made by one Party acting as an agent of one of such Party's Subsidiaries to the other Party acting as an agent of one of such other Party's Subsidiaries, and the Parties agree to treat any such payment accordingly.

Section 5.5 <u>Tax Gross-Up</u>. If, notwithstanding <u>Section 5.4</u>, there is an adjustment to the Tax liability of a Party or any of its Affiliates as a result of its receipt of a payment pursuant to this Agreement, such payment shall be appropriately adjusted so that the amount of such payment, reduced by the amount of all Income Taxes payable with respect to the receipt thereof (but taking into account all correlative Tax Benefits resulting from the payment of such Income Taxes), shall equal the amount of the payment which the Party or Affiliate receiving such payment would otherwise be entitled to receive.

**Article VI<u><br> TAX CONTESTS</u>**

Section 6.1 <u>Notice</u>. Each Party shall notify the other Party in writing no later than thirty (30) days, or as soon as reasonably practicable to permit a timely response to the Taxing Authority, after receipt by such Party or any member of its Group of a written communication from any Taxing Authority with respect to any pending or threatened audit, claim, dispute, suit, action, proposed assessment or other proceeding (a "<u>Tax Contest</u>") concerning any Taxes for which the other Party may be liable pursuant to this Agreement, and thereafter shall promptly forward or make available to such Party copies of notices and communications relating to such Tax Contest.

Section 6.2 <u>Separate Returns</u>. Subject to Section 6.3, in the case of any Tax Contest with respect to any Separate Return, the Party having the liability for the Tax pursuant to <u>Article II</u> hereof shall have the sole responsibility and right to control the prosecution of such Tax Contest, including the exclusive right to communicate with agents of the applicable Taxing Authority and to control, resolve, settle, or agree to any deficiency, claim, or adjustment proposed, asserted, or assessed in connection with or as a result of such Tax Contest.

Section 6.3 <u>Joint Returns and Separation Related Tax Contests</u>. Notwithstanding anything herein to the contrary, in the case of any Tax Contest with respect to any Joint Return or any Separation Related Tax Contest, Cummins shall have the sole responsibility and right to control the prosecution of such Tax Contest, including the exclusive right to communicate with agents of the applicable Taxing Authority and to control, resolve, settle, or agree to any deficiency, claim, or adjustment proposed, asserted, or assessed in connection with or as a result of such Tax Contest. Notwithstanding the foregoing, to the extent a portion of any Tax Contest relating to a Joint Return or a Separation Related Tax Contest (i) relates to a Tax liability that is not reasonably expected to exceed $25,000 or (ii) relates to a Foreign Tax matter that was customarily controlled by a member of the Filtration Group, as determined by Cummins in its discretion, then, in each case, Cummins may elect that Filtration shall be responsible for the conduct of such portion of such Tax Contest and any expenses related thereto, including expenses relating to supporting transfer pricing analysis. Notwithstanding anything herein to the contrary, this <u>Section 6.3</u> shall not relieve any Party of its obligation to indemnify the other Party pursuant to the terms of this Agreement.

Section 6.4 <u>Obligation of Continued Notice</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) During the pendency of any Tax Contest or threatened Tax Contest, each of the Parties shall provide prompt notice to the other Party of any written communication received by it or a member of its respective Group from a Taxing Authority regarding any Tax Contest for which it is indemnified by the other Party hereunder or for which it may be required to indemnify the other Party hereunder; <u>provided</u>, <u>however</u>, that, in the event that timely notice is not provided, a Party shall be relieved of its obligation to indemnify the other Party only to the extent that such delay results in actual increased costs or actual prejudice to such other Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless waived by the Parties in writing, in connection with any potential Adjustment in a Tax Contest as a result of which Adjustment the Non-Controlling Party may reasonably be expected to become liable to make any indemnification payment to the Controlling Party under this Agreement in excess of $25,000, the Controlling Party shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) keep the Non-Controlling Party reasonably informed in a timely manner of all significant actions taken or proposed to be taken by the Controlling Party with respect to such potential Adjustment in such Tax Contest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) timely provide the Non-Controlling Party with copies of any written correspondence or filings submitted to any Taxing Authority or judicial authority in connection with such potential Adjustment in such Tax Contest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) consult with the Non-Controlling Party reasonably in advance of taking any significant action in connection with such Tax Contest and offer a reasonable opportunity to comment before submitting any significant written materials to be furnished in connection with such Tax Contest, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) defend such Tax Contest diligently and in good faith.

The failure of the Controlling Party to take any action specified in the preceding sentence with respect to the Non-Controlling Party shall not relieve the Non-Controlling Party of any liability or obligation which it may have to the Controlling Party under this Agreement, and in no event shall such failure relieve the Non-Controlling Party from any other liability or obligation which it may have to the Controlling Party.

**Article VII<u><br> COOPERATION</u>**

Section 7.1 <u>General</u>. Each Party shall fully cooperate, and shall cause all members of such Party's Group to fully cooperate, with all reasonable requests in writing from the other Party, or from an agent, representative or advisor to such Party, in connection with the preparation and filing of any Tax Return, claims for Refunds, the conduct of any Tax Contest, and calculations of amounts required to be paid pursuant to this Agreement, in each case, related or attributable to or arising in connection with Taxes of either Party or any member of either Party's Group covered by this Agreement and the establishment of any reserve required in connection with any financial reporting (a "<u>Tax Matter</u>"). Such cooperation shall include the provision of any information reasonably necessary or helpful in connection with a Tax Matter and shall include, at each Party's own cost:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the provision of any Tax Returns of either Party or any member of either Party's Group, books, records (including information regarding ownership and Tax basis of property), documentation and other information relating to such Tax Returns, including accompanying schedules, related work papers, and documents relating to rulings or other determinations by Taxing Authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the execution of any document (including any power of attorney) in connection with any Tax Contest of either Party or any member of either Party's Group, or the filing of a Tax Return or a Refund claim of either Party or any member of either Party's Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the use of the Party's commercially reasonable efforts to obtain any documentation in connection with a Tax Matter; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the use of the Party's commercially reasonable efforts to obtain any Tax Returns (including accompanying schedules, related work papers, and documents), documents, books, records or other information in connection with the filing of any Tax Returns of any of either Party or any member of either Party's Group.

Each Party shall make its employees and facilities available, without charge, on a mutually convenient basis to facilitate such cooperation.

Section 7.2 <u>Consistent Treatment</u>. Unless and until there has been a Final Determination to the contrary, each Party agrees not to take any position on any Tax Return, in connection with any Tax Contest or otherwise that is inconsistent with (a) the treatment of payments between the Cummins Group and the Filtration Group as set forth in <u>Section 5.4</u>, or (b) the Tax-Free Status of the Transactions.

**Article VIII<u><br> RETENTION OF RECORDS; ACCESS</u>**

Section 8.1 <u>Retention of Records</u>. For so long as the contents thereof may become material in the administration of any matter under applicable Tax Law, but in any event until the later of (a) sixty (60) days after the expiration of any applicable statutes of limitation (including any waivers or extensions thereof) and (b) seven (7) years after the Distribution Date, the Parties shall retain records, documents, accounting data and other information (including computer data) necessary for the preparation and filing of all Tax Returns (collectively, "<u>Tax Records</u>") in respect of Taxes of any member of either the Cummins Group or the Filtration Group for any Pre-IPO Period, Straddle Period, or Post-IPO Period or for any Tax Contests relating to such Tax Returns. At any time after the Effective Date that the Cummins Group proposes to destroy such records or documents, it shall first notify the Filtration Group in writing and the Filtration Group shall be entitled to receive such records or documents proposed to be destroyed. At any time after the Effective Date that the Filtration Group proposes to destroy such records or documents, it shall first notify the Cummins Group in writing and the Cummins Group shall be entitled to receive such records or documents proposed to be destroyed. The Parties will notify each other in writing of any waivers or extensions of the applicable statute of limitations that may affect the period for which the foregoing records or other documents must be retained.

Section 8.2 <u>Access to Tax Records</u>. The Parties and their respective Affiliates shall make available to each other for inspection and copying during normal business hours upon reasonable notice all Tax Records (and, for the avoidance of doubt, any pertinent underlying data accessed or stored on any computer program or information technology system) in their possession and shall permit the other Party and its Affiliates, authorized agents and representatives and any representative of a Taxing Authority or other Tax auditor direct access, during normal business hours upon reasonable notice to any computer program or information technology system used to access or store any Tax Records, in each case, to the extent reasonably required by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation, or the resolution of items pursuant to this Agreement. The Party seeking access to the records of the other Party shall bear all costs and expenses associated with such access, including any reasonable professional fees. Notwithstanding anything herein to the contrary, (a) this <u>Section 8.2</u> shall not apply to Cummins Federal Consolidated Income Tax Return (except to the extent required pursuant to Section 2.8(a)) and (b) no Party shall have the right to review any information, documentation or other materials that are subject to the attorney client privilege or the privilege provided by Section 7525 of the Code (or any corresponding or similar provision of state or local Tax Law) without the written consent of the other Party, which may be conditioned upon the Parties entering into a joint defense agreement to preserve privilege.

**Article IX<u><br> DISPUTE RESOLUTION</u>**

Section 9.1 <u>Negotiation</u>. Subject to <u>Section 9.5</u>, in the event of any dispute between the Parties as to any matter covered by this Agreement ("<u>Tax Dispute</u>"), the general counsels of the Parties (or such other individuals designated by the respective general counsels) or the executive officers designated by the Parties shall negotiate for a reasonable period of time to settle such Tax Dispute; <u>provided</u> that such reasonable period shall not, unless otherwise agreed by the Parties in writing, exceed sixty (60) days (the "<u>Negotiation Period</u>") from the time of receipt by a Party of written notice of such Tax Dispute ("<u>Dispute Notice</u>"). The Settlement of any Tax Dispute pursuant to this <u>Section 9.1</u> shall be confidential, and no written or oral statements or offers made by the Parties during such settlement negotiations shall be admissible for any purpose in any subsequent proceedings, including any dispute resolution proceeding pursuant to <u>Section 9.2</u> or <u>Section 9.3</u>.

Section 9.2 <u>Independent Resolution</u>. If the Tax Dispute has not been resolved for any reason following the expiration of the Negotiation Period, the Parties shall appoint a nationally recognized law or independent public accounting firm, other than KPMG, (the "<u>Firm</u>") to resolve such Tax Dispute. In this regard, the Firm shall make determinations with respect to the disputed items based solely on representations made by Cummins and Filtration and their respective representatives, and not by independent review, and shall function only as an expert and not as an arbitrator and shall be required to make a determination in favor of one Party only. The Parties shall require the Firm to resolve any Tax Dispute no later than sixty (60) days after the submission of such Tax Dispute to the Firm, but in no event later than the due date for the payment of Taxes or the filing of the applicable Tax Return (in each case, taking into account extensions), if applicable, and agree that, subject to <u>Section 9.3</u>, all determinations by the Firm with respect thereto shall be final and conclusive and binding on the Parties. The Firm shall resolve all disputes in a manner consistent with this Agreement and, to the extent not inconsistent with this Agreement, in a manner consistent with the Past Practices of Cummins and its Subsidiaries, except as otherwise required by applicable Law. The Parties shall require the Firm to render all determinations in writing and to set forth, in reasonable detail, the basis for such determination and an opinion level for the conclusion. The fees and expenses of the Firm shall be borne equally by the Parties.

Section 9.3 <u>Disputed Resolution</u>. If a Tax Dispute is not resolved in favor of a Party on a matter submitted to the Firm pursuant to <u>Section 9.2</u> at an opinion level that is no greater than "more likely than not ("<u>Disputed Tax Item</u>"), then such Party (the "<u>Disputing Party</u>") may notify the other Party in writing of a request for a review of such Disputed Tax Item by a nationally recognized law or independent public accounting firm, other than the Firm or KPMG (the "<u>Reviewing Firm</u>"). The Reviewing Firm shall make determinations with respect to the Disputed Tax Item based solely on the materials provided to and relied upon by the Firm in making its determination with respect to the Disputed Tax Item. The Reviewing Firm shall function only as an expert and not as an arbitrator and shall be required to make a determination in favor of one Party only. The Parties shall require the Reviewing Firm to resolve the Disputed Tax Item no later than thirty (30) days after the submission of such Disputed Tax Item to the Reviewing Firm, but in no event later than the due date for the payment of Taxes or the filing of the applicable Tax Return, if applicable, and agree that if the Reviewing Firm resolves on the Disputed Tax Item at an opinion level of at least more likely than not, the determination of the Reviewing Firm with respect thereto shall be final and conclusive and binding on the Parties. If the determination of the Reviewing Firm is not at a more likely than not opinion level with respect to the Disputed Tax Item, then the determination of the Firm stands. The Reviewing Firm shall resolve all disputes in a manner consistent with this Agreement and, to the extent not inconsistent with this Agreement, in a manner consistent with the Past Practices of Cummins and its Subsidiaries, except as otherwise required by applicable Law. The Parties shall require the Reviewing Firm to render all determinations in writing and to set forth, in reasonable detail, the basis for such determination. The fees and expenses of the Reviewing Firm shall be borne by the Disputing Party.

Section 9.4 <u>Confidentiality</u>. The Parties agree that any dispute resolution hereunder shall be kept confidential, and that the existence of the proceeding and all of its elements (including any pleadings, briefs, or other documents submitted or exchanged, any testimony or other oral submissions, and any awards) shall be deemed confidential, and shall not be disclosed beyond the Firm, the Reviewing Firm, the Parties, their counsel, and any Person necessary to the conduct of the proceeding, except as to and the extent required by Law and to defend or pursue any legal right. In the event any Party makes application to any court in connection with this <u>Section 9.4</u>, that Party shall take all steps reasonably within its power to cause such application, an any exhibits to be filed under seal, shall oppose any challenge by any third party to such sealing, and shall give the other Party immediate notice of such challenge.

Section 9.5 <u>Specific Performance</u>. Notwithstanding anything herein to the contrary, from and after the Effective Date, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Parties agree that the Party or Parties to this Agreement who are or are to be thereby aggrieved shall, subject and pursuant to the terms of <u>Article VIII of the Separation Agreement</u>, have the right to specific performance and injunctive or other equitable relief of its or their rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that, from and after the Effective Date, the remedies at law for any breach or threatened breach of this Agreement, including monetary damages, are inadequate compensation for any indemnifiable amounts under this Agreement, that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any requirements for the securing or posting of any bond with such remedy are hereby waived.

**Article X<u><br> MISCELLANEOUS PROVISIONS</u>**

Section 10.1 <u>Entire Agreement; Construction</u>. This Agreement, including the Schedules hereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter.

Section 10.2 <u>Conflicting Agreements</u>. In the event and to the extent that there shall be a conflict between the provisions of this Agreement and the provisions of the Separation Agreement or any other Ancillary Agreement, the provisions of this Agreement shall control with respect to the subject matter thereof; <u>provided</u>, <u>however</u>, to the extent that such conflict relates to Excluded Taxes, the Separation Agreement or relevant Ancillary Agreement, as applicable shall control with respect to such Excluded Taxes.

Section 10.3 <u>Counterparts</u>. This Agreement may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties.

Section 10.4 <u>Treatment of Confidential Information</u>. The provisions of <u>Section 6.5</u> of the Separation Agreement shall govern the treatment of Confidential Information that is accessed or received in connection with the Parties' exercise of their respective rights and performance of their respective obligations under this Agreement.

Section 10.5 <u>Notices</u>. All notices, requests, claims, demands and other communications under this Agreement shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, or by facsimile or electronic mail with receipt confirmed (followed by delivery of an original via overnight courier service) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this <u>Section 10.5</u>):

To Cummins:

Cummins Inc.

500 Jackson Street,

Box 3005

Columbus, Indiana 47202-3005

Attn: General Counsel

Facsimile: [●]

Email: [●]

To Filtration:

Atmus Filtration Technologies Inc.

[●]

[●]

Attn: General Counsel

Facsimile: [●]

Email: [●]

Section 10.6 <u>Consents</u>. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party (and its Group). For this purpose, a Party may provide its written consent in the form of an email that expressly sets forth such consent and is delivered by the General Counsel of the Party giving such consent to the General Counsel of the Party requesting such consent.

Section 10.7 <u>No Waiver</u>. No failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or privilege hereunder shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

Section 10.8 <u>Assignment</u>. This Agreement shall not be assignable, in whole or in part, directly or indirectly, by any Party hereto without the prior written consent of the other Party, such consent not to be unreasonably withheld, and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding the foregoing, Cummins may assign this Agreement to an Affiliate without the prior written consent of Filtration; <u>provided</u>, <u>however</u> that no such assignment shall release Cummins from liability for the full performance of its obligations under this Agreement.

Section 10.9 <u>Successors and Assigns</u>. The provisions of this Agreement and the obligations and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted assigns.

Section 10.10 <u>Subsidiaries</u>. Each of the Parties shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party at and after the Effective Date, to the extent such Subsidiary remains a Subsidiary of the applicable Party.

Section 10.11 <u>Third Party Beneficiaries</u>. This Agreement is solely for the benefit of the Parties and should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement.

Section 10.12 <u>Titles and Headings</u>. Titles and headings to sections herein are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

Section 10.13 <u>Schedules</u>. The Schedules shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein.

Section 10.14 <u>Governing Law</u>. This Agreement and any dispute arising out of, in connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof.

Section 10.15 <u>Submission to Jurisdiction</u>. With respect to any Action relating to or arising out of this Agreement, subject to the provisions of <u>Article IX</u>, each Party irrevocably (a) consents and submits to the exclusive jurisdiction of the courts of the State of Delaware and any court of the United States located in the State of Delaware; (b) waives any objection which such Party may have at any time to the laying of venue of any Action brought in any such court, waives any claim that such Action has been brought in an inconvenient forum and further waives the right to object, with respect to such Action, that such court does not have jurisdiction over such Party; and (c) consents to the service of process at the address set forth for notices in <u>Section 10.5</u>; <u>provided</u>, <u>however</u>, that such manner of service of process shall not preclude the service of process in any other manner permitted under applicable Law.

Section 10.16 <u>Waiver of Jury Trial</u>. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 10.16</u>.

Section 10.17 <u>Severability</u>. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

Section 10.18 <u>Interpretation</u>. The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted. Unless the context otherwise requires: (a) references in this Agreement to any gender include references to all genders, and references to the singular include references to the plural and vice versa; (b) the words "include", "includes" and "including" when used in this Agreement shall be deemed to be followed by the phrase "without limitation"; (c) references in this Agreement to Articles, Sections and Schedules shall be deemed references to Articles and Sections of, and Schedules to, this Agreement; (d) the words "hereof", "hereby" and "herein" and words of similar meaning when used in this Agreement refer to this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement; (e) references in this Agreement or any Schedule to "$" shall mean United States dollars; (f) the word "or" when used in this Agreement shall not be exclusive; (g) references in this Agreement to "days" means calendar days unless Business Days are expressly specified; (h) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and, if the last day of such period is not a Business Day, then the period shall end on the next succeeding Business Day; and (i) references in this Agreement to any Person includes such Person's permitted successors and permitted assigns. Unless the context otherwise requires, references in this Agreement to "Cummins" shall also be deemed to refer to the applicable member of the Cummins Group, references in this Agreement to "Filtration" shall also be deemed to refer to the applicable member of the Filtration Group and, in connection with the foregoing, any references to actions or omissions to be taken, or refrained from being taken, as the case may be, by Cummins or Filtration shall be deemed to require Cummins or Filtration, as the case may be, to cause the applicable members of the Cummins Group or the Filtration Group, respectively, to take, or refrain from taking, any such action.

Section 10.19 <u>No Fiduciary Relationship</u>. The duties and obligations of the Parties, and their respective successors and permitted assigns, contained herein are the extent of the duties and obligations contemplated by this Agreement; nothing in this Agreement is intended to create a fiduciary relationship between the Parties hereto, or any of their successors and permitted assigns, or create any relationship or obligations other than those explicitly described.

Section 10.20 <u>Further Assurances</u>. Subject to the provisions hereof, the Parties hereto shall make, execute, acknowledge and deliver such other instruments and documents, and take all such other actions, as may be reasonably required in order to effectuate the purposes of this Agreement and to consummate the transactions contemplated hereby.

Section 10.21 <u>Survival</u>. Notwithstanding any other provision of this Agreement to the contrary, all representations, covenants and obligations contained in this Agreement shall survive until the expiration of the applicable statute of limitations with respect to any such matter (including extensions thereof).

Section 10.22 <u>Effective Date</u>. This Agreement shall become effective only upon the Effective Date.

*[Signature page follows]*

IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as of the day and year first above written.

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| |
|:---|
| CUMMINS INC. |
| By: |
| Name: |
| Title: |
| Atmus Filtration Technologies Inc. |
| By: |
| Name: |
| Title: |

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## Exhibit 10.4

**Exhibit 10.4**

Form of

EMPLOYEE MATTERS AGREEMENT

by and between

CUMMINS INC.

and

ATMUS FILTRATION TECHNOLOGIES INC.

Dated as of [●], 2023

**TABLE OF CONTENTS**

**Article I DEFINITIONS AND INTERPRETATION**<sub>1</sub>

Section 1.1 General 1 <br> Section 1.2 References; Interpretation 6

**Article II GENERAL PRINCIPLES**<sub>6</sub>

---

| | | |
|:---|:---|:---|
| Section 2.1 | Nature of Liabilities | 6 |
| Section 2.2 | Transfers of Employees Generally | 7 |
| Section 2.3 | Assumption and Retention of Liabilities Generally | 7 |
| Section 2.4 | Treatment of Compensation and Benefit Arrangements; Terms of Employment | 9 |
| Section 2.5 | Participation in Cummins Benefit Arrangements | 9 |
| Section 2.6 | Service Recognition | 9 |
| Section 2.7 | Collective Bargaining Agreements | 10 |
| Section 2.8 | Information and Consultation | 10 |
| Section 2.9 | WARN | 10 |

---

**Article III CERTAIN BENEFIT PLAN PROVISIONS**<sub>11</sub>

---

| | | |
|:---|:---|:---|
| Section 3.1 | Health and Welfare Benefit Plans | 11 |
| Section 3.2 | Cummins Pension Plan | 11 |
| Section 3.3 | Retirement and Savings Plans | 12 |
| Section 3.4 | U.S. OPEB Plans | 13 |
| Section 3.5 | Cummins Deferred Compensation Plans | 13 |
| Section 3.6 | Non-U.S. Plans | 14 |
| Section 3.7 | Treatment of Certain Plans | 14 |
| Section 3.8 | Chargeback of Certain Costs | 14 |

---

**Article IV EQUITY & INCENTIVE AWARDS**<sub>14</sub>

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| | | |
|:---|:---|:---|
| Section 4.1 | Cummins Variable Compensation | 14 |
| Section 4.2 | Treatment of Cummins Stock Options | 14 |
| Section 4.3 | Treatment of Cummins Performance Shares | 15 |
| Section 4.4 | Treatment of Cummins Performance Cash | 16 |
| Section 4.5 | Treatment of Cummins Restricted Stock Units Held by Non-Employee Filtration Directors | 17 |
| Section 4.6 | Filtration Stock Plan | 17 |
| Section 4.7 | General Terms | 17 |

---

---

| | |
|:---|:---|
| **Article V ADDITIONAL MATTERS** | **17** |

---

---

| | | |
|:---|:---|:---|
| Section 5.1 | Time-Off Benefits | 17 |
| Section 5.2 | Workers' Compensation Liabilities | 18 |
| Section 5.3 | COBRA Compliance in the United States | 18 |
| Section 5.4 | Retention Bonuses | 18 |
| Section 5.5 | Code Section 409A | 18 |
| Section 5.6 | Payroll Taxes and Reporting | 19 |
| Section 5.7 | Regulatory Filings | 19 |
| Section 5.8 | Disability | 19 |
| Section 5.9 | Certain Requirements | 20 |
| Section 5.10 | Refundable Amounts | 20 |

---

i

---

| | |
|:---|:---|
| **Article VI GENERAL AND ADMINISTRATIVE** | **20** |

---

---

| | | |
|:---|:---|:---|
| Section 6.1 | Employer Rights | 20 |
| Section 6.2 | Effect on Employment | 20 |
| Section 6.3 | Consent of Third Parties | 20 |
| Section 6.4 | Access to Employees | 20 |
| Section 6.5 | Beneficiary Designation/Release of Information/Right to Reimbursement | 21 |
| Section 6.6 | No Acceleration of Benefits | 21 |
| Section 6.7 | Employee Benefits Administration | 21 |
| Section 6.8 | Reverse Jurisdictions | 21 |
| Section 6.9 | Data Privacy; Data Sharing Agreement | 21 |

---

---

| | |
|:---|:---|
| **Article VII MISCELLANEOUS** | **22** |

---

---

| | | |
|:---|:---|:---|
| Section 7.1 | Entire Agreement; Construction | 22 |
| Section 7.2 | Counterparts | 22 |
| Section 7.3 | Survival of Agreements | 22 |
| Section 7.4 | Notices | 22 |
| Section 7.5 | Consents | 22 |
| Section 7.6 | No Waiver | 23 |
| Section 7.7 | Assignment | 23 |
| Section 7.8 | Successors and Assigns | 23 |
| Section 7.9 | Termination and Amendment | 23 |
| Section 7.10 | No Admission of Liability | 23 |
| Section 7.11 | Subsidiaries | 23 |
| Section 7.12 | Third Party Beneficiaries | 23 |
| Section 7.13 | Titles and Headings | 24 |
| Section 7.14 | Schedules | 24 |
| Section 7.15 | Governing Law | 24 |
| Section 7.16 | Submission to Jurisdiction | 24 |
| Section 7.17 | Waiver of Jury Trial | 24 |
| Section 7.18 | Dispute Resolution | 24 |
| Section 7.19 | Severability | 24 |

---

**Exhibits**

Exhibit A Data Sharing Agreement

**Schedules**

Scheule 6.8 Reverse Jursidictions

ii

**EMPLOYEE MATTERS AGREEMENT**

This EMPLOYEE MATTERS AGREEMENT (this "<u>Agreement</u>"), dated as of [●], 2023, is entered into by and between Cummins Inc., an Indiana corporation ("<u>Cummins</u>"), and Atmus Filtration Technologies Inc., a Delaware corporation and a wholly owned subsidiary of Cummins ("<u>Filtration</u>"). "<u>Party</u>" or "<u>Parties</u>" means Cummins or Filtration, individually or collectively, as the case may be. Capitalized terms not defined in the context of which such terms are first used in this Agreement shall have the meanings assigned to such terms in <u>Section 1.1</u> or, if not assigned a meaning in <u>Section 1.1</u>, the meanings assigned to such terms in the Separation Agreement.

W I T N E S S E T H:

WHEREAS, Cummins, acting through its direct and indirect Subsidiaries, currently conducts the Cummins Retained Business and the Filtration Business;

WHEREAS, the Board of Directors of Cummins (the "<u>Cummins Board</u>") has determined that it is appropriate, desirable and in the best interests of Cummins and its shareholders to separate Cummins into two separate, publicly traded companies, one for each of (a) the Cummins Retained Business, which shall be owned and conducted, directly or indirectly, by Cummins and its Subsidiaries, and (b) the Filtration Business, which shall be owned and conducted, directly or indirectly, by Filtration and its Subsidiaries; and

WHEREAS, pursuant to that certain Separation Agreement, dated as of [●], 2023, by and between Cummins and Filtration (the "<u>Separation Agreement</u>"), the Parties have agreed to enter into this Agreement for the purpose of allocating Assets, Liabilities and responsibilities with respect to certain employee matters and employee compensation and benefit plans and programs between them and to address certain other employment-related matters.

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:

**Article I<u><br> DEFINITIONS AND INTERPRETATION</u>**

Section 1.1 <u>General</u>. As used in this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) "<u>Affected Filtration Participants</u>" shall have the meaning set forth in Section 3.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) "<u>Agreement</u>" shall have the meaning set forth in the preamble to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) "<u>Automatic Transfer Employees</u>" shall mean any Filtration Employee, where local employment Laws, including the Transfer Regulations, provide for an automatic transfer of such employees to a member of the Filtration Group by operation of Law upon the transfer of a business as a going concern and such business transfer occurs as a result of the transactions contemplated by the Separation Agreement. Notwithstanding the foregoing, Cummins may designate that certain Filtration Employees who would otherwise be considered Automatic Transfer Employees shall be offered employment by the GEO instead of a member of the Filtration Group, and in such event, such individuals shall cease to be considered Automatic Transfer Employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) "<u>Benefit Arrangement</u>" shall mean each Benefit Plan and Benefit Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) "<u>Benefit Plan</u>" shall mean, with respect to an entity, each compensation or employee benefit plan, program, policy, agreement or other arrangement, whether or not "employee benefit plans" (within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA), including any benefit plan, program, policy, agreement or arrangement providing cash- or equity-based compensation or incentives, health, medical, dental, vision, disability, accident or life insurance benefits, severance, retention, change in control, termination, deferred compensation, individual employment or consulting, retirement, pension or savings benefits, supplemental income, retiree benefit or other fringe benefit (whether or not taxable and whether funded or unfunded), that are sponsored or maintained by such entity (or to which such entity contributes or is required to contribute or in which it participates), and excluding workers' compensation plans, policies, programs and arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) "<u>Benefit Policy</u>" shall mean, with respect to an entity, each plan, program, arrangement, agreement or commitment that is a vacation pay or other paid or unpaid leave policy or practice sponsored or maintained by such entity (or to which such entity contributes or is required to contribute) or in which it participates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) "<u>Collective Bargaining Agreement</u>" shall mean all agreements with the collective bargaining representatives, employee representatives, trade unions, labor or management organizations, groups of employees, or works councils or similar representative bodies of Filtration Employees, including all national or sector specific collective agreements which are applicable to Filtration Employees, in each case (a) which is in effect with Filtration or (b) which is in effect immediately prior to the date on which the applicable Filtration Employees become employed by a member of the Filtration Group, and that set forth terms and conditions of employment of Filtration Employees, and all modifications of, or amendments to, such agreements and any rules, procedures, awards or decisions of competent jurisdiction interpreting or applying such agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) "<u>Cummins</u>" shall have the meaning set forth in the preamble to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) "<u>Cummins Benefit Arrangement</u>" shall mean any Benefit Arrangement sponsored, maintained or contributed to by any member of the Cummins Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) "<u>Cummins Board</u>" shall have the meaning set forth in the recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) "<u>Cummins Deferred Compensation Plans</u>" shall mean (a) the Cummins Deferred Compensation Plan, and (b) the Cummins Excess Benefit Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) "<u>Cummins Employee</u>" shall mean each employee of Cummins or any of its Subsidiaries or Affiliates who does not qualify as a Filtration Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) "<u>Cummins Option</u>" shall mean an option to purchase shares of Cummins Common Stock granted pursuant to the Cummins Stock Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) "<u>Cummins Performance Cash Award</u>" shall have the meaning set forth in <u>Section 4.4.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) "<u>Cummins Performance Shares</u>" shall mean an award granted pursuant to the Cummins Stock Plan that was denominated as a "Performance Share" under the terms of such plan and the related award agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) "<u>Cummins Restricted Stock Unit</u>" shall mean an award granted pursuant to the Cummins Stock Plan that was denominated as a "Restricted Stock Unit" under the terms of such plan and related award agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) "<u>Cummins Stock Plan</u>" shall mean the Cummins 2012 Omnibus Incentive Plan, as amended and restated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) "<u>Cummins U.S. OPEB Plans</u>" shall mean the plan(s) that provide post-termination health and life benefits to Cummins Employees resident in the U.S. upon termination of employment at or after retirement age in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) "<u>Cummins Pension Plan</u>" shall mean the Cummins Pension Plan, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) "<u>Cummins Retirement and Savings Plans</u>" shall mean (a) the Cummins Retirement and Savings Plan, as amended, and (b) the Cummins Retirement and Savings Plan for Certain Collectively Bargained Employees, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) "<u>Cummins Welfare Plans</u>" shall mean any Welfare Plan maintained by Cummins or any member of the Cummins Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) "<u>Delayed Transfer Cummins Employee</u>" shall mean any Cummins Employee whose employment is determined by Cummins to not be eligible to be transferred from a member of the Filtration Group to a member of the Cummins Group at or prior to the Effective Time as a result of (a) requirements under applicable Law, (b) participation in a long-term disability plan or similar arrangement, or (c) a delay in setting up Cummins Business operations in a particular jurisdiction sufficient to employ such Cummins Employee, including in connection with the Internal Reorganization or whose employment transfer otherwise occurs after the Effective Time in accordance with the Internal Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) "<u>Delayed Transfer Date</u>" shall mean the date on which it is determined by Cummins that either (a) a Delayed Transfer Filtration Employee or Delayed Transfer Cummins Employee is permitted to transfer from the Cummins Group to the Filtration Group or the GEO or from the Filtration Group to the Cummins Group, respectively, in accordance with applicable Law, or (b) the necessary business operations are set up in the relevant jurisdiction to enable employment of the Filtration Employee by the Filtration Group or the GEO or to enable employment of the Cummins Employee by the Cummins Group, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24) "<u>Delayed Transfer Filtration Employee</u>" shall mean any Filtration Employee whose employment is determined by Cummins to not be eligible to be transferred to a member of the Filtration Group or to the GEO at or prior to the Effective Time as a result of (a) requirements under applicable Law, (b) participation in a long-term disability plan or similar arrangement, or (c) a delay in setting up Filtration Business operations or entering into an agreement with the GEO in a particular jurisdiction sufficient to employ such Filtration Employee, including in connection with the Internal Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) "<u>Employee Representative</u>" shall mean any works council, employee representative, trade union, labor or management organization, group of employees or similar representative body for Filtration Employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26) "<u>Equity Award Adjustment Ratio</u>" shall mean the adjustment ratio adopted by the Cummins Board or the Compensation Committee of the Cummins Board in its sole and absolute discretion for purposes of making equitable adjustments to the awards held by Filtration Employees under the Cummins Stock Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) "<u>ERISA</u>" shall mean the Employee Retirement Income Security Act of 1974, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28) "<u>Filtration</u> " shall have the meaning set forth in the preamble to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29) <u>"Filtration Adjusted Performance Stock Units"</u> shall have the meaning set forth in <u>Section 4.3.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) "<u>Filtration Adjusted Time-Based Restricted Stock Units</u>" shall have the meaning set forth in <u>Section 4.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) "<u>Filtration Benefit Arrangement</u>" shall mean any Benefit Arrangement sponsored, maintained or contributed to exclusively by any member of the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32) "<u>Filtration Deferred Compensation Plans</u>" shall have the meaning set forth in <u>Section 3.5(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33) "<u>Filtration Director</u>" shall mean a member of the Board of Directors of Filtration or any member of the board or similar governing body of any of its Subsidiaries or Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) "<u>Filtration Employee</u>" shall mean each individual who (a) is employed by Filtration or any of its Subsidiaries as of the date hereof, (b) becomes employed by Filtration or any of its Subsidiaries after the date hereof, or (c) is employed by Cummins or any of its Subsidiaries or Affiliates as of the date on which Cummins determines to transfer the employment of applicable individuals to Filtration or the GEO and who Cummins determines as of such date is either (i) exclusively or primarily engaged in the Filtration Business or (ii) necessary for the ongoing operation of the Filtration Business following the Effective Time, in each case, regardless of whether any such employee is actively at work or is not actively at work as a result of disability or illness, an approved leave of absence (including military leave with reemployment rights under federal Law and leave under the Family and Medical Leave Act of 1993 and equivalent requirements under applicable non-U.S. Law), vacation, personal day or similar short- or long-term absence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) "<u>Filtration Restricted Stock Units of Filtration Directors"</u> shall have the meaning set forth in <u>Section 4.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) "<u>Filtration Stock Plan</u>" shall have the meaning set forth in <u>Section 4.6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37) "<u>Filtration Savings Plans</u>" shall have the meaning set forth in <u>Section 3.3(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38) "<u>Filtration Welfare Plans</u>" shall mean any Welfare Plan maintained by Filtration or any member of the Filtration Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39) "<u>Former Filtration Service Provider</u>" shall mean (a) any individual who would qualify as an Filtration Employee but whose employment with Cummins or any of its Subsidiaries or Affiliates terminated for any reason prior to the date on which such individual's employment would otherwise have transferred to Filtration or the GEO pursuant to this Agreement, and (b) any former employee of Cummins or any of its Subsidiaries or Affiliates who was exclusively or primarily engaged in an Filtration Former Business (i) at the time either (x) such business was sold, conveyed, assigned, transferred, spun-off, split-off or otherwise disposed of or divested (in whole or in part) to a Person that is not a member of the Filtration Group or the Cummins Group or (y) the operations, activities or production of which were discontinued, abandoned, completed or otherwise terminated (in whole or in part), or (ii) at any other time, but in such case only to the extent relating to his or her service with such Filtration Former Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40) "<u>GEO</u>" shall mean, collectively, one or more third-party professional employer organizations with respect to which Filtration has entered into an agreement for such entity to employ Filtration Employees in one or more countries in which the Filtration Business operates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41) <u>"GEO Benefit Arrangement</u>" shall mean any Benefit Arrangement sponsored, maintained or contributed to by the GEO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) "<u>GEO Welfare Plan</u>" shall mean any Welfare Plan maintained by the GEO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43) "<u>Non-Automatic Transfer Employees</u>" shall mean any Filtration Employee who is not an Automatic Transfer Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44) "<u>Non-U.S. Plans</u>" shall have the meaning set forth in <u>Section 3.6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) "<u>Party</u>" and "<u>Parties</u>" shall have the meanings set forth in the preamble to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46) "<u>Plan Transition Date</u>" shall mean the date that is the earlier to occur of (a) the Disposition Date or (b) such date as agreed between the Parties; provided the Plan Transition Date shall not be later than the Disposition Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47) "<u>Refundable Amounts</u>" shall mean premium refunds or other refunds, dividends and repayments received by Cummins in connection with any Cummins Welfare Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48) "<u>Separation Agreement</u>" shall have the meaning set forth in the recitals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49) "<u>Severance Period</u>" shall have the meaning set forth in <u>Section 2.3(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50) "<u>Transfer Regulations</u>" shall mean (a) all Laws of any EU Member State implementing the EU Council Directive 2001/23/EC of 12 March 2001 on the approximation of the Laws of the Member States relating to the safeguarding of employees' rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses (the "<u>Acquired Rights Directive</u>") and legislation and regulations of any EU Member State implementing such Acquired Rights Directive, and (b) any similar Laws in any jurisdiction providing for an automatic transfer, by operation of Law, of employment in the event of a transfer of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51) "<u>UAW Local 1407</u>" shall have the meaning set forth in <u>Section 3.2.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52) "<u>Welfare Plan</u>" shall mean, where applicable, a "welfare plan" (as defined in Section 3(1) of ERISA and in 29 C.F.R. §2510.3-1) or a "cafeteria plan" under Section 125 of the Code, and any benefits offered thereunder, and any other plan offering health benefits (including medical, prescription drug, dental, vision and mental health and substance use disorder), disability benefits, or life, accidental death and disability, pre-tax premium conversion benefits, dependent care assistance programs, employee assistance programs, contribution funding toward a health savings account, flexible spending accounts, tuition reimbursement or adoption assistance programs or cashable credits.

Section 1.2 <u>References; Interpretation</u>. Unless the context otherwise requires: (a) references in this Agreement to any gender include references to all genders, and references to the singular include references to the plural and vice versa; (b) the words "include", "includes" and "including" when used in this Agreement shall be deemed to be followed by the phrase "without limitation"; (c) references in this Agreement to Articles, Sections, Schedules and Exhibits shall be deemed references to Articles and Sections of, Schedules to and Exhibits to, this Agreement; (d) the words "hereof", "hereby" and "herein" and words of similar meaning when used in this Agreement refer to this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement; (e) the word "or" when used in this Agreement shall not be exclusive; (f) references in this Agreement to "days" means calendar days unless Business Days are expressly specified; (g) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and, if the last day of such period is not a Business Day, then the period shall end on the next succeeding Business Day; and (h) references in this Agreement to any Person includes such Person's permitted successors and permitted assigns. Unless the context otherwise requires, references in this Agreement to "Cummins" shall also be deemed to refer to the applicable member of the Cummins Group, references to "Filtration" shall also be deemed to refer to the applicable member of the Filtration Group and, in connection therewith, any references to actions or omissions to be taken, or refrained from being taken, as the case may be, by Cummins or Filtration shall be deemed to require Cummins or Filtration, as the case may be, to cause the applicable members of the Cummins Group or the Filtration Group (and including the GEO), respectively, to take, or refrain from taking, any such action. Unless otherwise expressly provided herein, whenever Cummins's consent is required under this Agreement, such consent may be withheld, delayed or conditioned by Cummins in its discretion, and whenever any action hereunder is at Cummins's discretion, such action shall be at Cummins's discretion. In the event of any inconsistency or conflict which may arise in the application or interpretation of any of the definitions set forth in <u>Section 1.1</u>, for the purpose of determining what is and is not included in such definitions, any item explicitly included on a Schedule referred to in any such definition shall take priority over any provision of the text thereof.

**Article II<u><br> GENERAL PRINCIPLES</u>**

Section 2.1 <u>Nature of Liabilities</u>. All Liabilities assumed or retained by a member of the Cummins Group under this Agreement shall be Cummins Retained Liabilities for purposes of the Separation Agreement. All Liabilities assumed or retained by a member of the Filtration Group (or assumed, retained or allocable to the GEO) under this Agreement shall be Filtration Liabilities for purposes of the Separation Agreement.

Section 2.2 <u>Transfers of Employees Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the requirements of applicable Law and any applicable Collective Bargaining Agreement, through and until immediately before the Effective Time, Cummins shall use its commercially reasonable efforts to (i) cause the employment of any Filtration Employee who is not already employed by a member of the Filtration Group to be transferred to a member of the Filtration Group or to the GEO, as determined by Cummins in its discretion; (ii) cause the employment of any Cummins Employee who is employed by a member of the Filtration Group to be transferred to a member of the Cummins Group; and (iii) cause the employment of any Filtration Employee who is already employed by a member of the Filtration Group to be transferred to the GEO, as determined by Cummins in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Cummins shall use its commercially reasonable efforts to cause each Automatic Transfer Employee to be employed by a member of the Filtration Group no later than the Effective Time in accordance with applicable Law, or as of the applicable Delayed Transfer Date, if applicable, and Filtration agrees to take all actions reasonably necessary to cause the Filtration Employees to be so employed. If an Automatic Transfer Employee objects to the transfer of employment to a member of the Filtration Group as permitted under applicable Law and consequently does not become an employee of the Filtration Group and is terminated by Cummins as a result, then Filtration shall reimburse Cummins in accordance with <u>Section 2.3(c)</u> for any severance or termination costs incurred by Cummins in connection with such termination of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) With respect to each Non-Automatic Transfer Employee, either Filtration or the GEO shall make a qualifying offer of employment in accordance with <u>Section 2.4</u> to each such individual prior to the Effective Time to become employed by a member of the Filtration Group or the GEO, as determined by Cummins in its discretion, to be effective as of no later than the Effective Time, or as of the applicable Delayed Transfer Date, if applicable. If Filtration or the GEO fails to make such a qualifying offer of employment to a Non-Automatic Transfer Employee and such Non-Automatic Transfer Employee does not become employed by Filtration or the GEO and is terminated by Cummins as a result, then Filtration shall reimburse Cummins in accordance with <u>Section 2.3(c)</u> for any severance or termination costs incurred by Cummins in connection with such termination of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Cummins Group and the Filtration Group agree to execute, and to use commercially reasonable efforts to cause the GEO to execute, and to seek to have the applicable Filtration Employees and Cummins Employees execute, such documentation, if any, as may be necessary to reflect the transfer of employment described in this <u>Section 2.2</u>.

Section 2.3 <u>Assumption and Retention of Liabilities Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as otherwise provided in this Agreement, in connection with the Internal Reorganization and the Contribution, or, if applicable, from and after the Effective Time, Cummins shall, or shall cause one or more members of the Cummins Group to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill (i) all Liabilities under all Cummins Benefit Arrangements, whenever incurred; (ii) all Liabilities with respect to the employment, service, termination of employment or termination of service of all Cummins Employees and their respective dependents and beneficiaries (and any alternate payees in respect thereof), whenever incurred; and (iii) all other Liabilities or obligations expressly assigned to or assumed by a member of the Cummins Group under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as otherwise provided in this Agreement or a Conveyancing and Assumption Instrument, in connection with the Internal Reorganization and the Contribution, or, if applicable, from and after the Effective Time, Filtration shall, or shall cause one or more members of the Filtration Group or the GEO to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill (i) all Liabilities under all Filtration Benefit Arrangements, whenever incurred; (ii) all Liabilities with respect to the employment, service, termination of employment or termination of service of all Filtration Employees and Former Filtration Service Providers and their respective dependents and beneficiaries (and any alternate payees in respect thereof), whenever incurred; and (iii) all other Liabilities or obligations expressly assigned to or assumed by a member of the Filtration Group under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Parties shall promptly reimburse one another, upon reasonable request of the Party requesting reimbursement and the presentation by such Party of such substantiating documentation as the other Party shall reasonably request, for the cost of any obligations or Liabilities satisfied or assumed by the Party requesting reimbursement or its Affiliates that are, or that have been made pursuant to this Agreement or a Conveyancing and Assumption Instrument, the responsibility of the other Party or any of its Affiliates. Notwithstanding anything to the contrary in this <u>Section</u> 2.3, none of Filtration, any member of the Filtration Group, or the GEO shall be liable for (or shall have any obligation to reimburse Cummins for) any repayment obligation of a Filtration Employee pursuant to a written agreement entered into by the Filtration Employee with Cummins or a member of the Cummins Group. Notwithstanding anything to the contrary in this Agreement<u>,</u> with respect to any severance or termination costs incurred by Cummins pursuant to <u>Section 2.2(b)</u> or <u>Section 2.2(c)</u> during the period (the "<u>Severance Period</u>") ending sixty (60) days after the later of the Disposition Date or the applicable employee's Delayed Transfer Date, Cummins shall pay all such severance and termination costs (and Filtration shall reimburse Cummins for 50% of such severance and termination costs) until such time as Cummins has been allocated or paid (and not been reimbursed for) $500,000 of such severance or termination costs. Once either (i) Cummins has been allocated or paid (and not been reimbursed for) $500,000 of severance and termination costs under <u>Section 2.2(b)</u> and <u>Section 2.2(c)</u> or (ii) the Severance Period ends, all severance and termination costs incurred by Cummins pursuant to <u>Section 2.2(b)</u> or <u>Section 2.2(c)</u> shall be reimbursed by Filtration under the first sentence of this <u>Section 2.3(c)</u>, and Filtration shall be solely responsible for such severance and termination costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding that a Delayed Transfer Filtration Employee or Delayed Transfer Cummins Employee shall not become employed by a member of the Filtration Group or the GEO or by a member of the Cummins Group, respectively, until the Delayed Transfer Date applicable to such employee, (i) such Delayed Transfer Filtration Employee may perform services for Filtration or the GEO pursuant to the Transition Services Agreement or any other Ancillary Agreement, or such Delayed Transfer Cummins Employee may perform services for Cummins pursuant to the Transition Services Agreement or any other Ancillary Agreement, in order to permit the recipient of such services to operate its business; (ii) Filtration or Cummins shall be responsible for, and shall timely reimburse the other for, all Liabilities incurred by Cummins or Filtration (including the GEO), respectively, with regard to each such Delayed Transfer Filtration Employee or Delayed Transfer Cummins Employee from the Effective Time to the Delayed Transfer Date applicable to such employee except that Filtration shall not be responsible for any repayment obligation of a Delayed Transfer Filtration Employee pursuant to a written agreement entered into by the Filtration Employee with Cummins or a member of the Cummins Group; and (ii) the Parties shall use commercially reasonable efforts to effect the provisions of this Agreement with respect to the compensation and benefits of such Delayed Transfer Filtration Employees and Delayed Transfer Cummins Employees following the Delayed Transfer Date applicable to such employee, it being understood that it may not be possible to replicate the effect of such provisions under such circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding any provision of this Agreement or the Separation Agreement to the contrary, Filtration shall, or shall cause one or more members of the Filtration Group or the GEO to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill all Liabilities that have been accepted, assumed or retained under this Agreement irrespective of whether accruals for such Liabilities have been transferred to Filtration, the GEO, or a member of the Filtration Group or included on a combined balance sheet of the Filtration Business or whether any such accruals are sufficient to cover such Liabilities.

Section 2.4 <u>Treatment of Compensation and Benefit Arrangements; Terms of Employment</u>. Except as otherwise (a) required by a Collective Bargaining Agreement, the Transfer Regulations or applicable Law, or (b) expressly provided for in this Agreement or any Conveyancing and Assumption Instrument, for a period of twelve (12) months following the Effective Time (or if shorter, during the period of employment), Filtration shall, or shall cause a member of the Filtration Group or the GEO to provide or cause to be provided to each Filtration Employee who is employed as of the Effective Time a base salary or hourly wage rate, as applicable, a cash incentive or sales commission opportunity, and health, welfare and retirement benefits that are substantially similar, in the aggregate, to those provided to such Filtration Employee immediately prior to the Effective Time (without regard to any post-employment health and life benefits, defined benefit pension plan accruals, employee stock purchase plan benefits or key employee stock ownership plan benefits for Filtration Employees based in the United States). Notwithstanding the foregoing and except as otherwise set forth in <u>Article IV</u>, nothing contained in this Agreement shall require Filtration to make any grants of equity awards relating to shares of Filtration Common Stock to Filtration Employees following the Effective Time.

Section 2.5 <u>Participation in Cummins Benefit Arrangements</u>. Except as otherwise provided in this Agreement, effective no later than the Plan Transition Date, (a) Filtration and each member of the Filtration Group, to the extent applicable, shall cease to be a participating company in any Cummins Benefit Arrangement, and (b) each Filtration Employee shall cease to participate in, be covered by, accrue benefits under, be eligible to contribute to or have any rights under any Cummins Benefit Arrangement (except to the extent of previously accrued obligations that remain a Liability of any member of the Cummins Group pursuant to this Agreement).

Section 2.6 <u>Service Recognition</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From and after the Effective Time, and in addition to any applicable obligations under the Transfer Regulations or other applicable Law, Filtration shall, and shall cause each member of the Filtration Group or the GEO to, give each Filtration Employee who is employed as of the Effective Time or the Filtration Employee's Delayed Transfer Date full credit for purposes of eligibility, vesting, and determination of level of benefits under any Filtration Benefit Arrangement or GEO Benefit Arrangement for such Filtration Employee's prior service with any member of the Cummins Group or Filtration Group or any predecessor thereto, to the same extent such service was recognized by the applicable Cummins Benefit Arrangement; <u>provided</u>, <u>however</u>, that such service shall not be recognized to the extent it would result in the duplication of benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except to the extent prohibited by applicable Law, as soon as administratively practicable on or after the Plan Transition Date: (i) Filtration shall waive or cause to be waived all limitations as to preexisting conditions or waiting periods with respect to participation and coverage requirements applicable to each Filtration Employee under any Filtration Welfare Plan or GEO Welfare Plan in which Filtration Employees participate (or are eligible to participate) to the same extent that such conditions and waiting periods were satisfied or waived under an analogous Cummins Welfare Plan; and (ii) Filtration shall provide or cause each Filtration Employee to be provided with credit for any co-payments, deductibles or other out-of-pocket amounts paid during the plan year in which the Filtration Employees become eligible to participate in the Filtration Welfare Plans or GEO Welfare Plans in satisfying any applicable co-payments, deductibles or other out-of-pocket requirements under any such plans for such plan year.

Section 2.7 <u>Collective Bargaining Agreements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything in this Agreement to the contrary, Cummins and Filtration shall, to the extent required by applicable Law, take or cause to be taken all actions that are necessary (if any) for Filtration, a member of the Filtration Group or the GEO to continue to maintain or to assume and honor any Collective Bargaining Agreements and any pre-existing collective bargaining relationships (in each case, including obligations that arise in respect of the period both before and after the date of employment by the Filtration Group or the GEO) in respect of any Filtration Employees and any Employee Representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Effective no later than the Effective Time, Filtration shall, or shall cause a member of the Filtration Group or the GEO to, continue to maintain or to assume and honor, to the extent required by applicable Law, all Collective Bargaining Agreements and pre-existing collective bargaining relationships (in each case, including obligations that arise in respect of the period both before and after the date of a Filtration Employee's employment by the Filtration Group or the GEO) that are applicable to any Filtration Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Nothing in this Agreement is intended to alter the provisions of any Collective Bargaining Agreement or modify in any way the obligations of the Cummins Group or the Filtration Group to any Employee Representative or any other Person as described in such Collective Bargaining Agreement.

Section 2.8 <u>Information and Consultation</u>. The Parties shall comply with all requirements and obligations (if any) to inform, consult or otherwise notify any Filtration Employees, Cummins Employees or Employee Representatives in relation to the transactions contemplated by this Agreement and the Separation Agreement, whether required pursuant to any Collective Bargaining Agreement, the Transfer Regulations or other applicable Law.

Section 2.9 <u>WARN</u>. Notwithstanding any provision of this Agreement to the contrary, none of the transactions contemplated by or undertaken by this Agreement or the Separation Agreement is intended to and shall not constitute or give rise to an "employment loss" or employment separation within the meaning of the federal Worker Adjustment and Retraining Notification (WARN) Act, or any other federal, state, or local law or legal requirement addressing mass employment separations.

**Article III<u><br> CERTAIN BENEFIT PLAN PROVISIONS</u>**

Section 3.1 <u>Health and Welfare Benefit Plans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) Effective on or immediately prior to the Plan Transition Date, the participation of each Filtration Employee who is a participant in a Cummins Welfare Plan shall automatically cease and (ii) subject to and in accordance with <u>Section 2.4</u>, Filtration shall use commercially reasonable efforts or shall cause a member of the Filtration Group or the GEO to use commercially reasonable efforts (A) to have in effect on the Plan Transition Date, Filtration Welfare Plans or GEO Welfare Plans providing health and welfare benefits for the benefit of each Filtration Employee; and (B) effective on and after the date of cessation described in clause (i) above, to perform, pay and discharge all claims of Filtration Employees or Former Filtration Service Providers (excepting any claims of any Filtration Employees or Former Filtration Service Providers under a Cummins U.S. OPEB Plan), including any claims incurred under any Cummins Welfare Plan on or prior to the date on which such Filtration Welfare Plans or GEO Welfare Plans become effective, that remain unpaid as of the date on which such Filtration Welfare Plans or GEO Welfare Plans become effective, regardless of whether any such claim was presented for payment prior to, on or after such date; <u>provided</u> that the foregoing shall not apply to any claims that are the obligation of an insurance carrier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration shall reimburse the applicable Cummins Welfare Plan for any claims related to Filtration Employees or Former Filtration Service Providers paid by a Cummins Welfare Plan (whether prior to or after the Effective Time) and not charged back to the applicable member of the Filtration Group prior to the Plan Transition Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding any provision of this <u>Section 3.1</u> to the contrary, Filtration Employees will continue to be considered to be "participants" in any Cummins Welfare Plan that is either a health care flexible spending account program or a dependent-care flexible spending account program for the duration of any grace period or claims run-out period (in either case, solely as provided under the terms of such Cummins Welfare Plans) following the Plan Transition Date; <u>provided</u> that such Filtration Employees (i) will be considered to be participants solely for purposes of utilizing such grace period or claims run-out period; (ii) will not be allowed to make any deferral or contribution elections under such Cummins Welfare Plans following the Plan Transition Date; and (iii) will cease to be participants in such Cummins Welfare Plans upon the expiration of any grace period or claims run-out period.

Section 3.2 <u>Cummins Pension Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Filtration Employees (including new hires) who are eligible to participate in the Cummins Pension Plan per its terms shall continue to participate in the Cummins Pension Plan in accordance with its terms between the Effective Time and the Plan Transition Date. Cummins shall retain all Assets and Liabilities relating to the Cummins Pension Plan, including Liabilities in respect of pension benefits accrued thereunder by each Filtration Employee and Former Filtration Service Provider, and no Assets or Liabilities of the Cummins Pension Plan shall be transferred to a retirement plan maintained by any member of the Filtration Group. In addition, Cummins shall cause the Cummins Pension Plan to be amended, subject to and contingent upon the separation of the Cummins Retained Business and the Filtration Business to: (i) as of the Disposition Date, fully vest the accrued benefits under the Cummins Pension Plan of those certain Filtration Employees (x) who are participants in the Cummins Pension Plan, (y) who are active employees of Cummins, Filtration, or their respective Subsidiaries or Affiliates as of the Disposition Date, and (z) who become or remain employees of Filtration or its Subsidiaries or Affiliates following the Disposition Date as a direct result of the separation of the Cummins Retained Business and the Filtration Business (such employees, the "Affected Filtration Participants"); (ii) provide that any Affected Filtration Participant who participates in Appendix 11 of the Cummins Pension Plan and who is represented in bargaining by the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, Local 1407 ("UAW Local 1407") may elect early commencement of his or her accrued benefit without reduction for early retirement, provided distribution of such benefit is on or after the Disposition Date; and (iii) provide that any Affected Filtration Participant who participates in Appendix 1 of the Cummins Pension Plan and who is represented in bargaining by UAW Local 1407 will accrue interest at the crediting rate applicable to active employees for each month during which such Affected Filtration Participant is entitled to an interest credit under the terms of the Cummins Pension Plan after the Disposition Date. Filtration shall provide all information relating to Filtration Employees requested at any time by Cummins in order to administer the Cummins Pension Plan with respect to the Filtration Employees participating in such plan.

Section 3.3 <u>Retirement and Savings Plans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Effective no later than the Plan Transition Date and subject to the terms of any applicable Collective Bargaining Agreement, Cummins shall cause a member of the Filtration Group to adopt, establish, maintain or become a participating employer in a defined contribution savings plan and a trust that satisfies the requirements of Sections 401(a) and 401(k) of the Code and that is designed to be tax exempt under Section 501 of the Code in which each Filtration Employee who participated in a Cummins Retirement and Savings Plan immediately prior thereto shall be eligible to participate (the "<u>Filtration Savings Plan</u>"). Employer contributions under the Filtration Savings Plan shall be immediately fully vested. In addition, Filtration shall make any contributions and provide any additional benefits under the Filtration Savings Plan that are required to be provided pursuant to the terms of any applicable Collective Bargaining Agreement or pursuant to Section 2.4. As soon as practicable after the adoption of the Filtration Savings Plan, Filtration shall submit an application to the IRS for a determination that the Filtration Savings Plan is tax-qualified under Code Section 401(a) and that the related trust is exempt from federal income tax under Code Section 501(a) and shall take any actions and make any amendments necessary to receive such determination letter, unless such Filtration Savings Plan is based on a prototype plan document that has received a favorable IRS opinion letter or is a pooled employer plan which has received a favorable IRS determination letter. Except as otherwise provided in <u>Section 3.3(b)</u> below, the Cummins Retirement and Savings Plans shall retain all Assets and Liabilities relating to the Cummins Retirement and Savings Plan accounts of each Filtration Employee and Former Filtration Service Provider, and the Parties shall not effectuate a transfer of Assets or Liabilities from the Cummins Retirement and Savings Plans to the Filtration Savings Plan. Filtration shall be responsible for all Assets and Liabilities relating to the Filtration Savings Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The active participation of each Filtration Employee or Former Filtration Service Provider who is a participant in a Cummins Retirement and Savings Plan shall cease effective upon the date on which such Filtration Employee or Former Filtration Service Provider is no longer employed by an "Employer" as defined under the terms of such Cummins Retirement and Savings Plan, including the date on which Filtration and its Subsidiaries cease to be part of the same controlled group as Cummins as determined under Code Section 414. Such Filtration Employee or Former Filtration Service Provider shall be entitled to elect a distribution of their vested Cummins Retirement and Savings Plan account balances pursuant to the terms thereof. Each Filtration Employee shall be permitted to roll over any "eligible rollover distribution" within the meaning of Code Section 402(c)(4) (but not including any in-kind distributions of Cummins or Filtration stock) from the applicable Cummins Retirement and Savings Plan to the Filtration Savings Plan, subject to the terms of the Filtration Savings Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to <u>Sections 2.4</u> and <u>2.7</u> and the terms of any applicable Collective Bargaining Agreement, nothing contained in this Agreement shall alter in any way the right of (1) Filtration subsequent to the Disposition Date, to amend or terminate the Filtration Savings Plan in accordance with its respective terms and applicable Law or (2) Cummins prior to or subsequent to the Effective Time, to amend or terminate the Cummins Retirement and Savings Plans in accordance with the terms thereof and applicable Law.

Section 3.4 <u>U.S. OPEB Plans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cummins shall amend the Cummins U.S. OPEB Plans to provide that Filtration Employees who, as of the Plan Transition Date, upon a continuation of service with Cummins would otherwise become eligible for benefits under the Cummins U.S. OPEB Plans upon retirement, shall remain eligible from and after the Plan Transition Date under the Cummins U.S. OPEB Plans. Cummins shall retain all Assets and Liabilities relating to the Cummins U.S. OPEB Plans, including Liabilities in respect of benefits for which each Filtration Employee and Former Filtration Service Provider may be eligible, and no Assets or Liabilities of the Cummins U.S. OPEB Plans shall be transferred to any post-termination health and life benefit plan maintained by any member of the Filtration Group. Cummins shall pay any benefits under the Cummins U.S. OPEB Plans to any vested Filtration Employee upon retirement thereunder in accordance with the terms of the Cummins U.S. OPEB Plans.

Section 3.5 <u>Cummins Deferred Compensation Plans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Effective as of the Effective Time, the active participation of each Filtration Employee or Filtration Director who is a participant in one of the Cummins Deferred Compensation Plans shall cease, and effective no later than the date of such cessation, Filtration shall or shall cause a member of the Filtration Group to have in effect one or more non-qualified deferred compensation plans for the benefit of each Filtration Employee or Filtration Director (the "<u>Filtration Deferred Compensation Plans</u>") with terms that are substantially similar to those provided to the applicable Filtration Employee or Filtration Director under the applicable Cummins Deferred Compensation Plan immediately prior to the date on which the substantially similar Filtration Deferred Compensation Plan becomes effective. Effective as of the Effective Time, (i) each Filtration Employee and Filtration Director who is a participant in an applicable Cummins Deferred Compensation Plan shall become a participant in the substantially similar Filtration Deferred Compensation Plan, and (ii) Filtration shall fully perform, pay and discharge all obligations of the Cummins Deferred Compensation Plans relating to the accounts of the Filtration Employees and Filtration Directors transferred to the Filtration Deferred Compensation Plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Cummins shall retain (i) all Assets relating to any non-qualified deferred compensation plan maintained by it, including the Cummins Deferred Compensation Plans (including any Assets relating to corporate owned life insurance policies covering the lives of Filtration Employees, Filtration Directors and Former Filtration Service Providers) and (ii) all Liabilities in respect of all non-qualified deferred compensation plans maintained by it, other than Liabilities attributable to Filtration Employees and Filtration Directors under the Cummins Deferred Compensation Plans and (iii) Cummins shall transfer cash or cash equivalents equal to the Liabilities assumed by Filtration under clause (ii) to Filtration.

Section 3.6 <u>Non-U.S. Plans</u>. Notwithstanding any provision of this Agreement to the contrary (except as set forth in <u>Section 3.7</u>), the treatment of each Cummins Benefit Arrangement, Filtration Benefit Arrangement and GEO Benefit Arrangement that is maintained primarily in respect of individuals who are located outside of the United States (together, the "<u>Non-U.S. Plans</u>") shall be subject to the terms and conditions set forth in the applicable Conveyancing and Assumption Instrument; <u>provided that</u>, if the treatment of any such Non-U.S. Plan is not specifically covered by such Conveyancing and Assumption Instrument, then unless otherwise agreed by the Parties, (i) Filtration or the GEO shall fully perform, pay and discharge all obligations of the Non-U.S. Plans relating to Filtration Employees, and Former Filtration Service Providers, whenever incurred, (ii) Cummins shall fully perform, pay and discharge all obligations of the Non-U.S. Plans relating to Cummins Employees, whenever incurred, and (iii) the Parties shall agree on the extent to which any Assets held in respect of such Non-U.S. Plans shall be transferred to Filtration.

Section 3.7 <u>Treatment of Certain Plans</u>. Notwithstanding any provision of this Agreement or any Conveyancing and Assumption Instrument to the contrary, with respect to any Cummins Benefit Arrangement, Filtration Benefit Arrangement or GEO Benefit Arrangement that covers primarily Filtration Employees and Former Filtration Service Providers, effective no later than the Effective Time, Filtration shall become solely liable to fully perform, pay and discharge all obligations of such arrangements, whenever incurred.

Section 3.8 <u>Chargeback of Certain Costs</u>. Nothing contained in this Agreement shall limit Cummins's ability to charge back any Liabilities that it incurs in respect of any Cummins Benefit Arrangement to any of its operating companies in the ordinary course of business consistent with its past practices. Subject, and in addition, to the foregoing, Cummins shall allocate and charge back to Filtration or a member of the Filtration Group all Liabilities that Cummins recognizes by reason of the continued participation of Filtration Employees and Former Filtration Service Providers in Cummins Benefit Arrangements prior to the Plan Transition Date (which Liabilities shall, for the avoidance of doubt, be subject to reimbursement under <u>Section 2.3(c)</u> of this Agreement but solely to the extent provided in <u>Section 2.3(c)</u>).

**Article IV<u><br> EQUITY & INCENTIVE AWARDS</u>**

Section 4.1 <u>Cummins Variable Compensation</u>. For the Cummins annual variable compensation plan, the level of achievement of the applicable performance goals for each Filtration Employee for calendar 2022 shall be determined under the plan in accordance with its terms and shall be paid to such Filtration Employee at the time when annual variable cash incentives are typically paid in calendar year 2023. Filtration shall also establish a Filtration annual variable compensation plan for calendar year 2023 and thereafter, which plan for calendar 2023 shall be substantially similar to the Cummins annual variable compensation plan, except for the performance goals. Filtration shall provide that each Filtration Employee who immediately prior to the Effective Time was a participant in the Cummins annual variable compensation plan shall be eligible to participate under the Filtration annual variable compensation plan for calendar year 2023.

Section 4.2 <u>Treatment of Cummins Stock Options</u>. Each Cummins Option that is outstanding immediately prior to the Effective Date and that is held by a Filtration Employee who continues in employment through the Effective Date, whether vested or unvested, shall be amended, effective as of the Effective Date, to provide that (a) the Cummins Option shall be vested in full as of the Effective Date, and (b) each Filtration Employee shall be entitled, upon termination of employment from Cummins and its Subsidiaries and Affiliates (which shall occur upon the earlier of a termination from Filtration or the Disposition Date), to exercise their Cummins Option until the earlier of five (5) years following such termination or the original expiration date of the Cummins Option. Except as provided herein, each such Cummins Option shall continue to have, and be subject to, the terms of the award agreement applicable to such Cummins Option and the Cummins Stock Plan, including but not limited to the ability to exercise such Cummins Options for Cummins Common Stock.

Section 4.3 <u>Treatment of Cummins Performance Shares</u>. Each Cummins Performance Share that is outstanding immediately prior to the Effective Date and that is held by a Filtration Employee who continues in employment through the Effective Date, whether vested or unvested, shall be treated as follows, except to the extent the Parties otherwise agree with respect to one of more Cummins Performance Share awards: The 2020-2022 Cummins Performance Shares (awards with a performance period ending in 2022 and settlement in 2023) shall continue to be subject to all of the existing terms and conditions of the award governing such Cummins Performance Shares and the Cummins Stock Plan, including but not limited to the issuance of Cummins Common Stock in settlement thereof if so provided by the award. The level of actual achievement of the performance-based vesting conditions applicable to the 2021-2023 Cummins Performance Shares (awards with a performance period ending in 2023 and settlement in 2024) and the 2022-2024 Cummins Performance Shares (awards with a performance period ending in 2024 and settlement in 2025) shall be measured as of immediately before the Effective Date (subject to any adjustments to the performance goals as may be approved by the Compensation Committee of the Cummins Board of Directors to reflect the truncated performance periods), and the number of Cummins Performance Shares that are earned based on the level of achievement of such performance as certified by the Compensation Committee of the Cummins Board of Directors, shall be pro-rated by multiplying such number of 2021-2023 Cummins Performance Shares by a fraction, the numerator of which is the number of days elapsed from January 1, 2021 through (and including) the day before the Effective Date and the denominator of which is 1,095, and by multiplying such number of 2022-2024 Cummins Performance Shares by a fraction, the numerator of which is the number of days elapsed from January 1, 2022 through (and including) the day before the Effective Date and the denominator of which is 1,095, and such resulting number of Cummins Performance Shares that are earned shall be assumed and converted by Filtration immediately after the Effective Date into restricted stock units denominated in shares of Filtration Common Stock which shall be subject to vesting solely based upon the satisfaction of any applicable continued employment or service requirements that apply to the corresponding Cummins Performance Shares immediately prior to the Effective Date (the "Filtration Adjusted Time-Based Restricted Stock Units") The remaining pro-rata portion of such 2021-2023 Cummins Performance Shares and of such 2022-2024 Cummins Performance Shares shall be assumed and converted into Filtration Adjusted Time-Based Restricted Stock Units (weighted 30%) and performance share units (weighted 70%) denominated in shares of Filtration Common Stock (the "Filtration Adjusted Performance Stock Units"). The Filtration Adjusted Performance Stock Units shall be subject to vesting based upon the satisfaction of any applicable continued employment or service requirements that apply to the corresponding Cummins Performance Shares immediately prior to the Effective Date and the achievement of one or more performance goals that relate to Filtration as established by the compensation committee of the Filtration board of directors for the remainder of the relevant performance period that applies to the corresponding Cummins Performance Shares immediately prior to the Effective Date.

Each grant of Filtration Adjusted Time-Based Restricted Stock Units and Filtration Adjusted Performance Stock Units shall relate to that number of shares of Filtration Common Stock (with each discrete grant rounded up to the nearest whole share, subject to <u>Section 4.7</u>) equal to the product of (x) the number of shares of Cummins Common Stock that were subject to the corresponding pro rata portion of the Cummins Performance Share award immediately prior to the Effective Date, as adjusted as described hereinabove, multiplied by (y) the Equity Award Adjustment Ratio.

Section 4.4 <u>Treatment of Cummins Performance Cash</u>. Each Cummins performance cash award ("<u>Cummins Performance Cash Award</u>") that is outstanding immediately prior to the Effective Date under the Cummins Stock Plan and that is held by a Filtration Employee who continues in employment through the Effective Date, whether vested or unvested, shall be treated as follows, except to the extent the Parties otherwise agree with respect to one or more Cummins Performance Cash Awards: The 2020-2022 Cummins Performance Cash Awards (awards with a performance period ending in 2022 and payment in 2023) shall continue to be subject to all the existing terms and conditions of the award governing such Cummins Performance Cash Award and the Cummins Stock Plan, except as modified as determined in the sole discretion of the Compensation Committee of the Cummins Board of Directors prior to the payment therefor. The level of actual achievement of the performance-based vesting conditions of the 2021-2023 Cummins Performance Cash Awards (awards with a performance period ending in 2023 and payment in 2024) and the 2022-2024 Cummins Performance Cash Awards (awards with a performance period ending in 2024 and payment in 2025) shall be measured as of immediately before the Effective Date (subject to any adjustments to the performance goals as may be approved by the Compensation Committee of the Cummins Board of Directors to reflect the truncated performance period), and the amount of Cummins Performance Cash Award that is earned based on the level of achievement of such performance as certified by the Compensation Committee of the Cummins Board of Directors, shall be pro-rated by multiplying such amount of 2021-2023 Cummins Performance Cash Award by a fraction, the numerator of which is the number of days elapsed from January 1, 2021 through (and including) the day before the Effective Date and the denominator of which is 1,095, and by multiplying such amount of 2022-2024 Cummins Performance Cash Award by a fraction, the numerator of which is the number of days elapsed from January 1, 2022 through (and including) the day before the Effective Date which shall be paid by Filtration to such Filtration Employee at the time when the Cummins Performance Cash Award is typically paid in calendar year 2024 or, with respect to 2022-2024 Cummins Performance Cash Awards, 2025, subject to the satisfaction of any other conditions (unrelated to performance) that apply to the corresponding Cummins Performance Cash Award immediately prior to the Effective Date. The remaining pro-rata portion of such 2021-2023 Cummins Performance Cash Award and of such 2022-2024 Cummins Performance Cash Award shall be assumed and converted by Filtration immediately after the Effective Date into restricted stock units (weighted 30%) and performance stock units (weighted 70%) in each case, denominated in shares of Filtration Common Stock, which shall be subject to vesting based upon the satisfaction of any applicable continued employment or service requirements that apply to the corresponding Cummins Performance Cash Awards immediately prior to the Effective Date, and in the case of the performance stock units, the achievement of one or more performance goals that relate to Filtration, as established by the compensation committee of the Filtration board of directors for the remainder of the relevant performance period that applies to the corresponding Cummins Performance Cash Awards immediately prior to the Effective Date. The compensation committee of the Filtration board of directors will determine the manner of converting the remaining pro-rata portion of such 2021-2023 Cummins Performance Cash Awards and such 2022-2024 Cummins Performance Cash Awards into a number of Filtration stock units.

Section 4.5 <u>Treatment of Cummins Restricted Stock Units Held by Non-Employee Filtration Directors</u>. Each Cummins Restricted Stock Unit that is outstanding immediately prior to the Effective Time and that is held by a non-employee Filtration Director who continues in service through the Effective Time, whether vested or unvested, shall be treated as follows, except to the extent the Parties otherwise agree with respect to one of more of such Cummins Restricted Stock Unit awards: At the Effective Time, Filtration shall assume all of the Cummins Restricted Stock Units and shall convert them into restricted stock unit awards with respect to Filtration Common Stock (the "<u>Filtration Restricted Stock Units of Filtration Directors</u>") which shall be subject to vesting based upon the satisfaction of any applicable continued service requirements that apply to the corresponding Cummins Restricted Stock Units immediately prior to the Effective Date. Each grant of Filtration Restricted Stock Units of Filtration Directors shall relate to that number of shares of Filtration Common Stock (with each discrete grant rounded up to the nearest whole share, subject to <u>Section 4.7</u>) equal to the product of (x) the number of shares of Cummins Common Stock that were subject to the corresponding Cummins Restricted Stock Unit award immediately prior to the Effective Date multiplied by (y) the Equity Award Adjustment Ratio.

Section 4.6 <u>Filtration Stock Plan</u>. Effective as of the Effective Time, Filtration shall have adopted the Filtration 2022 Omnibus Incentive Plan (the "<u>Filtration Stock Plan</u>"), which shall permit the grant and issuance of equity incentive awards denominated in Filtration Common Stock as described in this <u>Article IV</u>.

Section 4.7 <u>General Terms</u>. All of the adjustments described in this <u>Article IV</u> shall be effected in accordance with Section 409A of the Code, in each case to the extent applicable. Notwithstanding the foregoing, (i) if, with respect to any Filtration Employee located outside of the United States, the treatment set forth in this <u>Article IV</u> would (A) cause adverse Tax consequences to such Filtration Employee, then the Parties shall use their commercially reasonable efforts to cause the treatment to be conformed in a manner that does not give rise to such adverse Tax consequences, to the extent practicable; or (B) would not conform with applicable non-U.S. Laws or require Filtration to obtain approval from any tax or regulatory authorities, then such provisions may be modified to the extent necessary to conform with such non-U.S. Laws and/or eliminate the need for tax or regulatory authority approval in such manner as is equitable and to preserve the intent hereof, as determined by the Parties in good faith, and (ii) the provisions of this <u>Article IV</u> may be modified by the Parties to the extent necessary to avoid undue cost or administrative burden arising out of the application of this <u>Article IV</u> to awards subject to non-U.S. Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Parties shall use their commercially reasonable efforts to maintain effective registration statements with the Securities Exchange Commission with respect to the awards described in this <u>Article IV</u>, to the extent any such registration statement is required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Parties hereby acknowledge that the provisions of this <u>Article IV</u> are intended to achieve certain tax, legal and accounting objectives and, in the event such objectives are not achieved, the Parties agree to negotiate in good faith regarding such other actions that may be necessary or appropriate to achieve such objectives.

**Article V<u><br> ADDITIONAL MATTERS</u>**

Section 5.1 <u>Time-Off Benefits</u>. Unless otherwise required in a Collective Bargaining Agreement, the Transfer Regulations or applicable Law, Filtration shall (a) credit, or cause a member of the Filtration Group or the GEO to credit, each Filtration Employee with the amount of accrued but unused vacation time, paid time-off and other time-off benefits as such Filtration Employee had with the Cummins Group as of immediately before the date on which the employment of the Filtration Employee transfers to Filtration or the GEO, and (b) permit each such Filtration Employee to use such accrued but unused vacation time, paid time off and other time-off benefits in the same manner and upon the same terms and conditions as the Filtration Employee would have been so permitted under the terms and conditions of the applicable Cummins policies in effect for the year in which such transfer of employment occurs, up to and including full exhaustion of such transferred accrued but unused vacation time, paid-time off and other time-off benefits (if such full exhaustion would be permitted under the applicable Cummins policies in effect for that year in which the transfer of employment occurs); <u>provided</u> that, if the GEO does not agree thereto with respect to any Filtration Employee that becomes employed by the GEO, then Cummins shall pay such Filtration Employee the amount of accrued but unused vacation time, paid time-off and other time-off benefits as such Filtration Employee had with the Cummins Group as of immediately before the date on which the employment of the Filtration Employee is terminated to the extent required by policy or applicable Law, and then Filtration shall reimburse Cummins in accordance with <u>Section 2.3(c)</u> for any such costs incurred by Cummins.

Section 5.2 <u>Workers' Compensation Liabilities</u>. Effective no later than the Effective Time, Filtration shall assume, or shall cause a member of the Filtration Group or the GEO to assume, all Liabilities for Filtration Employees and Former Filtration Service Providers related to any and all workers' compensation injuries, incidents, conditions, claims or coverage, whenever incurred (including claims incurred prior to the Effective Time but not reported until after the Effective Time), and, except as otherwise provided in the Separation Agreement, Filtration shall be fully responsible for the administration, management and payment of all such claims and satisfaction of all such Liabilities. Notwithstanding the foregoing, if Filtration is unable to assume any such Liability or the administration, management or payment of any such claim solely because of the operation of applicable Law, Cummins shall retain such Liabilities and Filtration shall reimburse and otherwise fully indemnify Cummins for all such Liabilities, including the costs of administering the plans, programs or arrangements under which any such Liabilities have accrued or otherwise arisen.

Section 5.3 <u>COBRA Compliance in the United States</u>. Filtration shall be responsible for administering compliance with the health care continuation requirements of COBRA, and the corresponding provisions of the Filtration Welfare Plans with respect to Filtration Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the Filtration Welfare Plans at any time after the Effective Time.

Section 5.4 <u>Retention Bonuses</u>. Any retention bonuses payable to any Filtration Employees that relate to the transactions contemplated by the Separation Agreement and become payable after the Effective Time shall be assumed by Filtration as of the Effective Time and Filtration shall pay all amounts payable thereunder to the applicable Filtration Employees in accordance with the terms thereof.

Section 5.5 <u>Code Section 409A</u>. Notwithstanding anything in this Agreement to the contrary, the Parties shall negotiate in good faith regarding the need for any treatment different from that otherwise provided herein with respect to the payment of compensation to ensure that the treatment of such compensation does not cause the imposition of a Tax under Section 409A of the Code. In no event, however, shall any Party be liable to another in respect of any Taxes imposed under, or any other costs or Liabilities relating to, Section 409A of the Code.

Section 5.6 <u>Payroll Taxes and Reporting</u>. The Parties shall, to the extent practicable, (a) treat Filtration or a member of the Filtration Group as a "successor employer" and Cummins (or the appropriate member of the Cummins Group) as a "predecessor," within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Filtration Employees for purposes of Taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (b) cooperate with each other to avoid, to the extent possible, the filing of more than one IRS Form W-2 with respect to each Filtration Employee for the calendar year in which the Effective Time occurs.

Section 5.7 <u>Regulatory Filings</u>. Subject to applicable Law and the Tax Matters Agreement, Cummins shall retain responsibility for all employee-related regulatory filings for reporting periods after the Disposition Date, except for Equal Employment Opportunity Commission EEO-1 reports and affirmative action program (AAP) reports and responses to Office of Federal Contract Compliance Programs (OFCCP) submissions, for which Cummins shall provide data and information (to the extent permitted by applicable Laws) to Filtration, which shall be responsible for making such filings in respect of Filtration Employees.

Section 5.8 <u>Disability</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Filtration Employee is, as of the day immediately preceding the Plan Transition Date, receiving payments as part of any short-term disability program that is part of a Cummins Welfare Plan, such Filtration Employee's rights to continued short-term disability benefits (a) will end under any Cummins Welfare Plan as of the Plan Transition Date; and (b) all remaining rights will be recognized under a Filtration Welfare Plan or GEO Welfare Plan from and after the Plan Transition Date, and the remainder (if any) of such Filtration Employee's short-term disability benefits will be paid by a Filtration Welfare Plan or a GEO Welfare Plan. In the event that any Filtration Employee described above shall have any dispute with the short-term disability benefits they are receiving under a Filtration Welfare Plan or a GEO Welfare Plan, any and all appeal rights of such employees shall be realized through the Filtration Welfare Plan or the GEO Welfare Plan, as applicable (and any appeal rights such Filtration Employee may have under any Cummins Welfare Plan will be limited to benefits received and time periods occurring prior to the Plan Transition Date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Filtration Employee is, as of the day immediately preceding the Plan Transition Date, receiving payments as part of any long-term disability program that is part of a Cummins Welfare Plan, such Filtration Employee's right to continued long-term disability benefits will continue to be provided by the Cummins Welfare Plan following the Plan Transition Date until such benefits end in accordance with the terms of such plan. In addition, if the obligation to provide long-term disability benefits for any Filtration Employee who, as of the Plan Transition Date, has incurred a disability but is not yet eligible for long-term disability benefits under the Cummins Welfare Plan is not assumed by the insurance carrier that will provide long-term disability benefits for Filtration Employees upon the Plan Transition Date, then Cummins shall continue to be liable to provide long-term disability benefits to such Filtration Employee from and after the Plan Transition Date until such benefits end in accordance with the terms of such plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For any Former Filtration Service Provider who is, as of the day immediately preceding the Plan Transition Date, receiving payments as part of any long-term disability program that is part of a Cummins Welfare Plan, and has been receiving payments from such plan for twelve (12) months or fewer before the Effective Time, to the extent such Former Filtration Service Provider may have any "return to work" rights under the terms of such Cummins Welfare Plan, such Former Filtration Service Provider's eligibility for re-employment shall be with Filtration or a member of the Filtration Group or the GEO, subject to availability of a suitable position (with such availability to be determined in the sole discretion of Filtration or the applicable member of the Filtration Group or the GEO); <u>provided</u>, <u>however</u>, that, notwithstanding the foregoing, no Former Filtration Service Provider described in this subsection will be eligible for re-employment as described in this subsection after the first anniversary of the Effective Time.

Section 5.9 <u>Certain Requirements</u>. Notwithstanding any provision of this Agreement to the contrary, if the Transfer Regulations, the terms of a Collective Bargaining Agreement or applicable Law require that any Assets or Liabilities be retained by the Cummins Group or transferred to or assumed by the Filtration Group in a manner that is different from that set forth in this Agreement, such retention, transfer or assumption shall be made in accordance with the terms of such Collective Bargaining Agreement or applicable Law and shall not be made as otherwise set forth in this Agreement.

Section 5.10 <u>Refundable Amounts</u>. Any Refundable Amount paid to Cummins or any member of the Cummins Group shall be an Asset of Cummins except that if the original cost to which such Refundable Amount relates was initially charged to the Filtration Business, then such Refundable Amount shall be shared with Filtration in the same proportion as the cost was initially charged to the Filtration Business. Similarly, if any amount remains to be charged, such amount shall be charged to Cummins and Filtration in the same proportions as the original cost was charged to the Parties.

**Article VI<u><br> GENERAL AND ADMINISTRATIVE</u>**

Section 6.1 <u>Employer Rights</u>. Nothing in this Agreement shall be deemed to be an amendment to any Cummins Benefit Arrangement or Filtration Benefit Arrangement or to prohibit any member of the Cummins Group or Filtration Group, as the case may be, from amending, modifying or terminating any Cummins Benefit Arrangement or Filtration Benefit Arrangement at any time within its sole discretion.

Section 6.2 <u>Effect on Employment</u>. Nothing in this Agreement is intended to or shall confer upon any employee or former employee of Cummins, Filtration, any of their respective Affiliates or the GEO any right to continued employment, or any recall or similar rights to any such individual on layoff or any type of approved leave.

Section 6.3 <u>Consent of Third Parties</u>. If any provision of this Agreement is dependent on the Consent of any third party and such Consent is withheld, the Parties shall use their commercially reasonable efforts to implement the applicable provisions of this Agreement to the fullest extent practicable. If any provision of this Agreement cannot be implemented due to the failure of such third party to consent, the Parties hereto shall negotiate in good faith to implement the provision (as applicable) in a mutually satisfactory manner.

Section 6.4 <u>Access to Employees</u>. On and after the Effective Time, Cummins and Filtration shall, or shall cause each of their respective Affiliates or the GEO to, make available to each other those of their employees who may reasonably be needed in order to defend or prosecute any legal or administrative action (other than a legal action between Cummins and Filtration) to which any employee or director of the Cummins Group or the Filtration Group or any Cummins Benefit Arrangement or Filtration Benefit Arrangement is a party and which relates to a Cummins Benefit Arrangement or Filtration Benefit Arrangement. The Party to whom an employee is made available in accordance with this <u>Section 6.4</u> shall pay or reimburse the other Party for all reasonable expenses which may be incurred by such employee in connection therewith, including all reasonable travel, lodging, and meal expenses, but excluding any amount for such employee's time spent in connection herewith.

Section 6.5 <u>Beneficiary Designation/Release of Information/Right to Reimbursement</u>. To the extent permitted by applicable Law and except as otherwise provided for in this Agreement, all beneficiary designations, authorizations for the release of Information and rights to reimbursement made by or relating to Filtration Employees under Cummins Benefit Arrangements shall be transferred to and be in full force and effect under the corresponding Filtration Benefit Arrangements or GEO Benefit Arrangements until such beneficiary designations, authorizations or rights are replaced or revoked by, or no longer apply, to the relevant Filtration Employee.

Section 6.6 <u>No Acceleration of Benefits</u>. Except as otherwise expressly provided in this Agreement, no provision of this Agreement shall be construed to create any right, or accelerate vesting or entitlement, to any compensation or benefit whatsoever on the part of any Filtration Employee or other former, current or future employee of the Cummins Group or Filtration Group under any Benefit Arrangement of the Cummins Group or Filtration Group or the GEO.

Section 6.7 <u>Employee Benefits Administration</u>. At all times following the date hereof, the Parties will cooperate in good faith as necessary to facilitate the administration of employee benefits and the resolution of related employee benefit claims with respect to Filtration Employees, Former Filtration Service Providers and employees and other service providers of Cummins, as applicable, including with respect to the provision of employee level information necessary for the other Party to manage, administer, finance and file required reports with respect to such administration.

Section 6.8 <u>Reverse Jurisdictions</u>. Notwithstanding anything in this Agreement to the contrary, with the exception of <u>Articles I and II</u>, the Parties acknowledge and agree that for each of the entities or countries listed in <u>Schedule 6.8</u>, where the context so requires in accordance with the local Conveyancing and Assumption Instruments, each reference to "Filtration" in this Agreement shall be construed as a reference to "Cummins," and each reference to "Cummins" in this Agreement shall be construed as a reference to "Filtration."

Section 6.9 <u>Data Privacy; Data Sharing Agreement</u>. Notwithstanding anything to the contrary herein, the Parties acknowledge and agree that any applicable data privacy laws and any other obligations of Cummins and Filtration to maintain the confidentiality of any employee information held by Cummins or Filtration, as applicable, or any information held in connection with any Benefit Arrangement in accordance with applicable Law will govern the disclosure of employee information between the Parties under this Agreement. Each of Cummins and Filtration will ensure that it has in place appropriate technical and organizational security measures to protect the personal data of the Cummins Employees and the Filtration Employees and Former Filtration Service Providers, respectively. Without limiting the generality of the foregoing provisions of this <u>Section 6.9</u>, the Parties have entered into a data sharing agreement substantially in the form of <u>Exhibit A</u> attached hereto.

**Article VII<u><br> MISCELLANEOUS</u>**

Section 7.1 <u>Entire Agreement; Construction</u>. This Agreement, including the Exhibits and Schedules hereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event of any inconsistency between this Agreement and any Exhibit or Schedule hereto, the Exhibit or Schedule shall prevail. In the event of any conflict between this Agreement and the Tax Matters Agreement, the terms and conditions of the Tax Matters Agreement shall control.

Section 7.2 <u>Counterparts</u>. This Agreement may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties.

Section 7.3 <u>Survival of Agreements</u>. Except as otherwise contemplated by this Agreement, all covenants and agreements of the Parties contained in this Agreement shall survive the Effective Time and remain in full force and effect in accordance with their applicable terms.

Section 7.4 <u>Notices</u>. All notices, requests, claims, demands and other communications under this Agreement shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, or by facsimile or electronic mail with receipt confirmed (followed by delivery of an original via overnight courier service) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this <u>Section 7.4</u>):

To Cummins:

Cummins Inc.

[●]

Indianapolis, Indiana

Attn: General Counsel

Facsimile: [●]

Email: [●]

To Filtration:

Atmus Filtration Technologies Inc.

[●]

[●]

Attn: General Counsel

Facsimile: [●]

Email: [●]

Section 7.5 <u>Consents</u>. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party (and its Group). For this purpose, a Party may provide its written consent in the form of an email that expressly sets forth such consent and is delivered by the General Counsel of the Party giving such consent to the General Counsel of the Party requesting such consent.

Section 7.6 <u>No Waiver</u>. No failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or privilege hereunder shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

Section 7.7 <u>Assignment</u>. This Agreement shall not be assignable, in whole or in part, directly or indirectly, by any Party hereto without the prior written consent of the other Party, and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding the foregoing, this Agreement shall be assignable to (a) with respect to Cummins, an Affiliate of Cummins, or (b) a bona fide third party in connection with a merger, reorganization, consolidation or the sale of all or substantially all the assets of a Party hereto, so long as the resulting, surviving or transferee entity assumes all of the obligations of the relevant Party hereto by operation of Law or pursuant to an agreement in form and substance reasonably satisfactory to the other Party to this Agreement; <u>provided</u>, <u>however</u> that, in the case of each of the preceding clauses (a) and (b), no assignment permitted by this <u>Section 7.7</u> shall release the assigning Party from liability for the full performance of its obligations under this Agreement.

Section 7.8 <u>Successors and Assigns</u>. The provisions of this Agreement and the obligations and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted assigns.

Section 7.9 <u>Termination and Amendment</u>. This Agreement may be terminated, modified or amended at any time prior to the Disposition Date by and in the discretion of Cummins without the approval of Filtration or the stockholders of Cummins. In the event of such termination, no Party shall have any liability of any kind to the other Party or any other Person. After the Disposition Date, this Agreement may not be terminated, modified or amended except by an agreement in writing signed by Cummins and Filtration.

Section 7.10 <u>No Admission of Liability</u>. The allocation of Assets and Liabilities herein (including on the Schedules hereto) is solely for the purpose of allocating such Assets and Liabilities between Cummins and Filtration and is not intended as an admission of liability or responsibility for any alleged Liabilities vis-à-vis any third party, including with respect to the Liabilities of any non-wholly owned subsidiary of Cummins or Filtration.

Section 7.11 <u>Subsidiaries</u>. Each of the Parties shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party at and after the Effective Date, to the extent such Subsidiary remains a Subsidiary of the applicable Party.

Section 7.12 <u>Third Party Beneficiaries</u>. This Agreement is solely for the benefit of the Parties and, except as expressly set forth herein, should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement.

Section 7.13 <u>Titles and Headings</u>. Titles and headings to sections herein are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

Section 7.14 <u>Schedules</u>. The Schedules shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein.

Section 7.15 <u>Governing Law</u>. This Agreement and any dispute arising out of, in connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof.

Section 7.16 <u>Submission to Jurisdiction</u>. With respect to any Action relating to or arising out of this Agreement, subject to the provisions of <u>Article VIII</u> of the Separation Agreement, each Party irrevocably (a) consents and submits to the exclusive jurisdiction of the courts of the State of Indiana and any court of the United States located in the State of Indiana; (b) waives any objection which such Party may have at any time to the laying of venue of any Action brought in any such court, waives any claim that such Action has been brought in an inconvenient forum and further waives the right to object, with respect to such Action, that such court does not have jurisdiction over such Party; and (c) consents to the service of process at the address set forth for notices in <u>Section 7.4</u>; <u>provided</u>, <u>however</u>, that such manner of service of process shall not preclude the service of process in any other manner permitted under applicable Law.

Section 7.17 <u>Waiver of Jury Trial</u>. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 7.17</u>.

Section 7.18 <u>Dispute Resolution</u>. The provisions of <u>Article VIII</u> of the Separation Agreement shall govern any Dispute under or in connection with this Agreement.

Section 7.19 <u>Severability</u>. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

*[Signature page follows]*

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above written.

CUMMINS INC.

By: <br> Name: <br> Title:

ATMUS FILTRATION TECHNOLOGIES INC.

------

By: <br> Name: <br> Title:

## Exhibit 10.5

**Exhibit 10.5**

Form of

FILTRATION FIRST-FIT SUPPLY AGREEMENT

by and between

CUMMINS INC. and ATMUS FILTRATION TECHNOLOGIES INC.,

dated as of [●], 2023

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| &nbsp;&nbsp;*Section* | &nbsp;&nbsp;*Title* |
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Purpose |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Definitions |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Products |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Term |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Pricing, New Product Production |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Payment and Title Transfer |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Tooling and Equipment |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Branding, Packaging and Invoice Documentation |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Shipping and Delivery |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Engineering Change |
| &nbsp;&nbsp;11. | &nbsp;&nbsp;Quality |
| &nbsp;&nbsp;12. | &nbsp;&nbsp;Preferred Supplier |
| &nbsp;&nbsp;13. | &nbsp;&nbsp;Process For Non-Conforming Material |
| &nbsp;&nbsp;14. | &nbsp;&nbsp;Exclusivity and Service Products |
| &nbsp;&nbsp;15. | &nbsp;&nbsp;Warranty |
| &nbsp;&nbsp;16. | &nbsp;&nbsp;Design Responsibilities |
| &nbsp;&nbsp;17. | &nbsp;&nbsp;Performance Management and Continuous Improvement |
| &nbsp;&nbsp;18. | &nbsp;&nbsp;Confidentiality and Non-Disclosure |
| &nbsp;&nbsp;19. | &nbsp;&nbsp;Intellectual Property Ownership |
| &nbsp;&nbsp;20. | &nbsp;&nbsp;Indemnification |
| &nbsp;&nbsp;21. | &nbsp;&nbsp;Termination |
| &nbsp;&nbsp;22. | &nbsp;&nbsp;Limitation of Liability |
| &nbsp;&nbsp;23. | &nbsp;&nbsp;Force Majeure |
| &nbsp;&nbsp;24. | &nbsp;&nbsp;Insurance and Diverse Sourcing |
| &nbsp;&nbsp;25. | &nbsp;&nbsp;Compliance with Applicable Laws |
| &nbsp;&nbsp;26. | &nbsp;&nbsp;Integrity of Supply Chain |
| &nbsp;&nbsp;27. | &nbsp;&nbsp;Records and Audits |
| &nbsp;&nbsp;28. | &nbsp;&nbsp;Tender Information |
| &nbsp;&nbsp;29. | &nbsp;&nbsp;Assignment |
| &nbsp;&nbsp;30. | &nbsp;&nbsp;Remedies and Non-Waiver |
| &nbsp;&nbsp;31. | &nbsp;&nbsp;Survival |
| &nbsp;&nbsp;32. | &nbsp;&nbsp;Entire Agreement |
| &nbsp;&nbsp;33. | &nbsp;&nbsp;Interpretation |
| &nbsp;&nbsp;34. | &nbsp;&nbsp;Notices |
| &nbsp;&nbsp;35. | &nbsp;&nbsp;Governing Law, Dispute Resolution, Separation Agreement |

---

Schedule A – Product Group Designations and Master Price Lists

Schedule A-1 – Commodity Price Adjustments

Schedule A-2 - Currency Market Agreement

Schedule B – Continuity of Supply

Schedule C – Warranty Agreement

Schedule D – Minimum Insurance Requirements

Schedule E – Cummins Diverse Spend Requirement

Schedule F – Integrity of Supply Chain

Schedule G – Savings Clause

Schedule H – Preferred Supplier Terms, Exclusivity, and Limitation of Liability

Page i

FILTRATION FIRST-FIT SUPPLY AGREEMENT

This FILTRATION FIRST-FIT SUPPLY AGREEMENT, dated as of [●], 2023 (this "<u>Agreement</u>"), is entered into by and between Cummins Inc., an Indiana corporation ("<u>Cummins</u>"), and Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Supplier</u>"). Each of Cummins and Supplier are referred to herein from time to time each as, a "<u>Party</u>" and collectively, the "<u>Parties</u>".

**RECITALS**

**WHEREAS**, Cummins, acting through its direct and indirect Subsidiaries, currently conducts the Cummins Retained Business and the Filtration Business;

**WHEREAS**, the board of directors of Cummins has determined that it is appropriate, desirable and in the best interests of Cummins and its shareholders to separate the Cummins Retained Business and the Filtration Business between Cummins and Supplier and consummate an initial public offering of certain capital stock of Supplier (the separation and offering, collectively, the "<u>Transactions</u>"), all pursuant to a Separation Agreement, dated as of [●], 2023 (the "<u>Separation Agreement</u>"), entered into by and between Cummins and Supplier, in accordance with which, among other things, (a) the Cummins Retained Business is to be owned and conducted, directly or indirectly, by Cummins and its Subsidiaries on or after the Effective Date, and (b) the Filtration Business is to be owned and conducted, directly or indirectly, by Supplier and its Subsidiaries, on or after the Effective Date;

**WHEREAS**, Supplier has been incorporated as a wholly owned Subsidiary of Cummins, has not engaged in activities except in preparation for or in connection with the Transactions and as of the consummation of the Transactions, will no longer be a wholly owned Subsidiary of Cummins; and

**WHEREAS**, in furtherance of the Transactions, pursuant to, and subject to the terms and conditions of, the Separation Agreement, (a) Cummins will, among other things, contribute certain products and programs of the Filtration Business to Supplier, and (b) each of Cummins and Supplier concurrently desires to enter into this Agreement pursuant to which Supplier will sell certain Filtration Business products to Cummins on the terms and conditions contained herein.

**NOW THEREFORE**, in consideration of the foregoing and the mutual agreements, provisions and covenants contained herein, effective as of the Effective Date, the Parties intending to be legally bound hereby agree as follows:

**1. PURPOSE**

1.1 This Agreement sets forth the terms and conditions pursuant to which Cummins will purchase, and Supplier will sell to Cummins, products described in "Group A" ("<u>Current Products</u>"), and described in "Group B" (including subsections Group B-1 and Group B-2) as set forth in the Product Group Designations and Master Price Lists ("<u>MPLs</u>") in Schedule A ("<u>New Products</u>", and collectively with the Current Products, the "<u>Products</u>"). All documents and Schedules referenced in or attached to this Agreement are hereby incorporated herein and are made a part of this Agreement. Any additional or conflicting terms or provisions provided by Supplier or Cummins relating to such purchase or sale of the Products shall not apply and are hereby rejected by Cummins and Supplier. Cummins shall only purchase Products under this Agreement as First-Fit Products and Service Products, and for no other use or purpose.

Page 1 of 29

1.2 This Agreement does not authorize delivery of Products or constitute an obligation or agreement to purchase a minimum or specific quantity of Products.

**2. DEFINITIONS**

Capitalized terms used in this Agreement, but which are not otherwise defined in this Agreement, shall have the meaning given to them in the Separation Agreement. The following definitions shall apply throughout this Agreement:

2.1 "<u>Affiliate</u>" shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with, such Person (and, in the case of Cummins, its joint ventures, partnerships and limited partnerships). It is expressly agreed that, from and after the Effective Date, solely for purposes of this Agreement, (i) no member of the Filtration Group shall be deemed an "Affiliate" of any member of the Cummins Group, and (ii) no member of the Cummins Group shall be deemed an "Affiliate" of any member of the Filtration Group.

2.2 "<u>Agreement</u>" shall have the meaning set forth in the preamble hereto.

2.3 "<u>Anti-Corruption Laws</u>" shall mean any applicable foreign or domestic anti-bribery and anti-corruption laws and regulations, including the Bribery Act 2010, the US Foreign Corrupt Practices Act 1977 and any laws intended to implement the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

2.4 "<u>Applicable Laws</u>" shall mean all applicable provisions of any and all statutes, laws, statutory instruments, rules, regulations, administrative codes, ordinances, decrees, orders, decisions, injunctions, awards, judgments, permits and licenses of or from any federal, national, state, provincial or local governmental or non-governmental authority, agency, undertaking or body which has any jurisdiction in respect of or relevance to the applicable Party (or its Affiliates) and its business and/or the relevant provisions of this Agreement.

2.5 "<u>Associated Persons</u>" shall mean in respect of each Party, any officer, director, employee, consultant, agent, direct or indirect beneficial owner or shareholder, or any other person acting on behalf of such Party.

2.6 "<u>Conflict Minerals</u>" shall mean Cobalt, Tin, Tantalum, Tungsten and Gold and any other minerals added to the definition of Conflict Minerals under the United States Dodd-Frank Wall Street Reform and Consumer Protection Act or the EU Regulation on Conflict Minerals (2017/821) (in either case, as amended or superseded).

2.7 "<u>Cummins</u>" shall have the meaning set forth in the preamble hereto.

2.8 "<u>Cummins Location</u>" shall mean the location where the Products are to be delivered and can refer to any Cummins division, facility or warehouse or other location as specified by Cummins.

2.9 <u>"Dispute Notice</u>" shall mean a notice issued by one Party to the other Party in accordance with the terms of Section 34 (Notices) of this Agreement, which affirmatively requests the beginning of a dispute subject to the terms of Article VIII (Dispute Resolution) of the Separation Agreement.

Page 2 of 29

2.10 "<u>Diverse Suppliers</u>" shall mean: (i) Disabled-Owned businesses; (ii) Small businesses located in HUBZone; (iii) Lesbian, Gay, Bisexual, Transgender or Queer (LBGT)-Owned businesses; (iv) Minority-Owned businesses; (v) Small Disadvantaged businesses; (vi) Service-Disabled Veteran-Owned businesses; (vii) Veteran-Owned businesses; (viii) Women-Owned Enterprise; and (ix) Women-Owned Small Business.

2.11 "<u>Effective Date</u>" shall mean the closing date of the IPO.

2.12 "<u>First-Fit Products</u>" shall mean serial production products that are incorporated by Cummins or any of its Affiliates into its or their respective products, which are sold by Cummins or any of its Affiliates to customer for use in new vehicles or equipment and are not sold by Cummins or its Affiliates as aftermarket parts.

2.13 "<u>Good Industry Practice</u>" shall mean all relevant practices and professional standards that would be expected of a well-managed, skilled, and experienced supplier carrying out obligations similar to the relevant obligations.

2.14 "<u>Governmental Entity</u>" shall mean any nation or government, any state, municipality or other political subdivision thereof and any entity, body, agency, commission, department, board, bureau or court, whether domestic, foreign, multinational, or supranational exercising executive, legislative, judicial, regulatory, self-regulatory or administrative functions of or pertaining to government and any executive official thereof.

2.15 "<u>Intellectual Property</u>" shall mean all United States and international: (i) trademarks, trade dress, service marks, certification marks, logos, slogans, design rights, names, corporate names, trade names, Internet domain names, social media accounts and addresses and other similar designations of source or origin, together with the goodwill symbolized by any of the foregoing (collectively, "<u>Trademarks</u>"); (ii) patents and patent applications, and any and all related national or international counterparts thereto, including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions thereof (collectively, "<u>Patents</u>"); (iii) copyrights and copyrightable subject matter, excluding Know-How; (iv) trade secrets, and all other confidential or proprietary information, know-how, inventions, processes, formulae, models, and methodologies, excluding Patents (collectively, "<u>Know-How</u>"); (v) all applications and registrations for any of the foregoing; and (vi) all rights and remedies against past, present and future infringement, misappropriation or other violation of any of the foregoing.

2.16 "<u>Lead Time</u>" shall mean (i) the lead time specified on the Group A MPL terms for each Current Product, and (ii) the lead time mutually agreed upon by the Parties for each New Product.

2.17 "<u>Modern Slavery and Human Trafficking</u>" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. holding a person in slavery or servitude;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. requiring a person to perform forced or compulsory labor (including but not limited to prison labor, child labor, or compelling labor
by taking control of a person's passport, identity card, visa, or other immigration documentation);

Page 3 of 29

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. subjecting a person to force, threats or deception designed to induce that person to provide services of any kind, to provide another
person with benefits of any kind, or to enable another person to acquire benefits of any kind; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. arranging or facilitating the travel of a person with a view to that person being exploited for purposes of slavery, servitude, forced
or compulsory labor, sexual exploitation, or the removal of organs.

2.18 "<u>Modern Slavery Laws</u>" shall mean any foreign or domestic laws and regulations applicable to Modern Slavery and Human Trafficking, including but not limited to the California Transparency in Supply Chains Act the UK Modern Slavery Act 2015.

2.19 "<u>Negotiation Mechanism</u>" shall mean the Parties engaging in good faith negotiations in connection with recovery of costs, price adjustments, offsetting/netting, continuity of supply, and other disputes that may arise as a result of the Parties performance under the Agreement. If the Parties cannot agree to a resolution during such good faith negotiations, each Party has the right to provide a Dispute Notice to the other Party to initiate a formal dispute resolution process in accordance with the terms and conditions of Article VIII (Dispute Resolution) of the Separation Agreement.

2.20 "<u>Non-Conforming Material</u>" shall mean Products / Product material which do not conform to Specifications.

2.21 "<u>Non-conforming Material Process</u>" shall mean Product material processes which do not conform to Specifications.

2.22 "<u>Party</u>" and "<u>Parties</u>" shall have the meanings set forth in the preamble hereto.

2.23 "<u>Person</u>" shall mean any natural person, firm, individual, corporation, business trust, joint venture, association, bank, land trust, trust company, company, limited liability company, private limited company, partnership, or other organization or entity, whether incorporated or unincorporated, or any Governmental Entity.

2.24 "<u>Post-Production</u>" shall mean the production of Products after Serial Production ends.

2.25 "<u>Post-Production Price</u>" shall mean the price applicable to the Products during Post-Production.

2.26 "<u>Purchase Order Affiliates</u>" shall mean and include Affiliates responsible for releasing purchase orders prior to the Effective Date for the following plants, joint ventures or locations: Jamestown Engine Plant, Columbus MidRagen Plant, Rocky Mount Engine Plant, Seymour Engine Plant, Cummins Komatsu Engine Plant, Joint Venture Kitting - United States, Cummins Power Generation (Fridley, MN), Memphis Distribution Center, San Luis Potosi/Reconditioning Plant, Cummins Power Generation China, Darlington Engine Plant, Daventry Engine Plant, Joint Venture Kitting (EMEA), Cummins Brazil Limited.

2.27 "<u>Sanctions and Trade Control Laws</u>" shall mean all sanctions, export control, anti-boycott laws, regulations, orders, directives, designations, licenses, and decisions of the European Union, the United Kingdom, the United States of America, and of any other country with jurisdiction over activities undertaken in connection with this Agreement.

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2.28 "<u>Separation Agreement</u>" shall have the meaning set forth in the recitals hereto.

2.29 "<u>Serial Production</u>" shall mean the production of Products which are incorporated by Cummins into its products, which are sold to Cummins' customers for use in new vehicles or equipment, and are not used or sold as aftermarket parts.

2.30 "<u>Service Products</u>" shall mean Products sold by Supplier to Cummins not for use in regular scheduled maintenance (i.e., filter or cartridge replacements), but to support repair or replacement, including without limitation overhaul kits.

2.31 "<u>Specifications</u>" For Current Products, "<u>Specifications</u>" shall mean specifications of such Current Products that were in effect immediately prior to the Effective Date that were communicated to Supplier by Cummins from time to time, unless the Parties jointly approve in writing a specific change to such specifications prior or after the Effective Date. For New Products, "<u>Specifications</u>" shall mean the standards, drawings, samples, descriptions, quality requirements, performance requirements, statements of work, fit, form and function requirements furnished, specified or approved by Cummins for such products.

2.32 "<u>Start of Production</u>" shall mean the date of Cummins start of the Serial Production phase after the final full product PPAP of the assembly that contains a Product.

2.33 "<u>Supplier</u>" shall have the meaning set forth in the preamble hereto.

2.34 "<u>Tooling</u>" shall mean any tooling, jigs, fixtures and associated manufacturing equipment which are necessary for the successful production and/or testing of the Products located at Supplier's facilities.

2.35 "<u>Transactions</u>" shall have the meaning set forth in the recitals hereto.

**3. PRODUCTS**

3.1 All purchases under this Agreement are subject to the issuance of an applicable purchase order, individual or blanket (a "<u>Purchase Order</u>"), and release by Cummins (which shall include Purchase Order Affiliates). Cummins may issue and Supplier agrees to accept periodic Cummins Purchase Orders and releases (provided such Purchase Orders and releases conform to this Agreement), which shall set forth the part number, quantity, and schedule for the ordered Products. Purchase Orders do not become binding until accepted by Supplier evidenced by (i) written acknowledgment and confirmation, (ii) Supplier's initiation of performance under a Purchase Order, or (iii) Supplier ships Products under a new Purchase Order. The terms of this Agreement shall take precedence over any conflicting terms in any Cummins Purchase Order or release issued hereunder. Any term or statement in a Cummins Purchase Order or release, or an acknowledgment or acceptance thereof by Supplier, which conflicts with the terms of this Agreement, is hereby expressly rejected and shall be deemed amended or deleted to the extent of any such conflict. Purchase Orders and releases are binding and non-cancellable for: (i) the Lead Time, and (ii) the quantity specified in an individual Purchase Order. Products purchased under this Agreement shall only be used by Cummins for the program on which the Product business was awarded.

3.2 Supplier shall manage and supply the Products to Cummins pursuant to the terms and conditions set forth in Schedule B (Continuity of Supply). Cummins reserves the right to direct the sale and supply of the Products to other Cummins Locations or designated third parties (including, without limitation, other Cummins affiliated entities) to the extent Cummins directs sale and supply to such designated third parties as of the date of the first signature of a Filtration representative of this Agreement, or Supplier authorizes such change in writing on or after the Effective Date.

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3.3 Subject to the Delivery Performance Requirements as defined in Schedule B (Continuity of Supply), Supplier shall ensure that all Products supplied by Supplier are usable, manufactured to the Specifications, if applicable, and shipped to the proper Cummins Location with the required documentation and in the scheduled quantities.

3.4 Supplier shall comply with the following policies in place as of the Effective Date, which are incorporated by reference to this Agreement and can be accessed at: http://supplier.cummins.com (i) Cummins Corporate Environmental Policy and Environmental Standard; (ii) Cummins Supplier Handbook; (iii) Cummins Green Supply Chain Principles, (iv) Restriction of Prohibited Materials; (v) Government Requirements; and (vi) Human Rights Policy.

3.5 Only the Cummins and Supplier entity named on an applicable Purchase Order shall be responsible for their respective obligations under such Purchase Order. Neither Cummins Inc. nor any other Cummins entity shall be liable for another named Cummins Affiliate's obligations under such named Affiliate's Purchase Order or supplemental agreement. Further, a breach or termination by a named Cummins entity of its obligations under any particular Purchase Order shall not constitute a breach or termination under another Purchase Order or of this Agreement.

**4. TERM**

4.1 This Agreement shall have an initial term of 5 years, effective from and after the Effective Date for any Current Products (the "<u>Current Products Initial Term</u>") and effective from and after the date of the Start of Production for each New Product provided that, with respect to such New Product, the Start of Production occurs during the Current Products Initial Term (each, a "<u>New Product Term</u>"), unless terminated or cancelled sooner pursuant to the terms of this Agreement. The Current Products Initial Term shall be automatically extended for one 2-year period, unless either Party provides a written notice of non-renewal to the other Party at least 365 days prior to the end of the Current Product Initial Term, or the Parties mutually agree otherwise in writing. The Current Products Initial Term, each New Product Term and any automatic extensions thereof are referred to in this Agreement collectively as the "<u>Term</u>". For the avoidance of doubt, Section 5.2 is binding and effective with respect to any New Products during the Current Products Initial Term and through the end of any applicable New Product Term. If New Products pricing is agreed upon after the Effective Date, then such pricing will be subject to the pricing adjustments set forth in Section 5.1 of this Agreement.

**5. PRICING, NEW PRODUCT PRODUCTION**

5.1 Supplier shall sell and supply the Current Products, and New Products for which pricing has been agreed upon as of the Effective Date, to Cummins in accordance with the pricing in the MPLs set forth in Schedule A (Product Group Designations and Master Price Lists), which may be subject to applicable price reductions and price increases as set forth in this Agreement and the terms of the MPLs, including the price adjustments set forth in Schedule A-1 and Schedule A-2 attached hereto. Notwithstanding the foregoing, the MPLs price does not include shipment or delivery costs, which shall be the sole responsibility of Cummins. All prices are exclusive of sales, use, excise, customs, export, import, commodity and/or any other taxes, which shall be the sole responsibility of Cummins. Cummins will pay all such taxes and any license fees or other charges incidental to the sale of Products, and will promptly reimburse Supplier if Supplier is required to pre-pay any such taxes, fees, and assessments; provided, however, that Cummins will have the opportunity to dispute such reimbursement through the Negotiation Mechanism.

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5.2 With respect to any New Product pricing not set forth on the MPLs or not designated as final on the MPLs as of the Effective Date, the Parties agree to engage in the Negotiation Mechanism to establish commercially reasonable pricing for each such New Product, provided any such pricing will be determined on a basis consistent with, and reflecting models and assumptions used in developing, Schedule A, Schedule A-1 and Schedule A-2 attached hereto. The Parties agree to amend the MPLs once pricing is agreed upon on a New Product, or preliminary pricing is designated as final. As of the Effective Date, Supplier agrees to use commercially reasonable efforts to cause the Start of Production to occur for any New Products within the Current Products Initial Term.

5.3 In the event Cummins requests changes to the Products that require corresponding engineering changes, the Parties may re-negotiate the pricing for the affected Product(s) for up to thirty (30) days from the date such changes are formally requested. Product pricing changes resulting from such engineering changes shall only be effective prospectively upon the written agreement of the Parties. Prototype pricing for new products will be discussed and agreed between the Parties prior to any such parts being produced.

5.4 During the Term, Supplier shall use commercially reasonable efforts to reduce the cumulative costs of all Products by conducting value analysis/value engineering exercises (such reductions, "<u>Va/Ve Savings</u>"). Without limiting the generality of the foregoing, during the Term, Supplier shall achieve Va/Ve Savings as detailed in Schedule G (Savings Clause).

5.5 Supplier agrees to proactively determine any Free Trade Agreement ("<u>FTA</u>") eligibility for the Products it supplies and to provide all supporting documentation required in order to apply for qualification to do business under the FTA. This includes FTA certificates and supplier affidavits as applicable and necessary.

5.6 The Parties shall meet to amend the MPLs as required to incorporate final New Product pricing and any Product price reductions which result from the cost reduction activities set forth in this Section 5 and/or any other Product pricing adjustments negotiated between the Parties, or to add New Products which may be subject to this Agreement. Cummins shall amend Purchase Orders to reflect adjusted pricing to be consistent with the amended MPLs.

**6. PAYMENT AND TITLE TRANSFER**

6.1 Payment terms are set forth in the MPLs.

6.2 Supplier shall promptly invoice Cummins upon delivery of the Products. Payment shall be made in the currency designated for each Product on the MPL.

6.3 Cummins reserves the right to offset amounts that are (i) *de minimis*, (ii) caused by clerical or administrative errors, or (iii) routine or reoccurring costs caused by Supplier's alleged non-performance under this Agreement, *provided however* for this subsection (iii), Cummins shall not have the right to offset (a) for any individual cost which exceeds $5,000 per occurrence, or (b) for any amounts whatsoever once offsets exceed $50,000 collectively during any calendar year. Supplier has the right to seek to recover any offset amounts. The Parties may initiate the Negotiation Mechanism to offset additional amounts.

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6.4 The delivery term shall be Ex. Works Supplier's manufacturing facility, Incoterms® 2020. Risk of loss to the Products shall pass to Cummins in accordance with the agreed Incoterms® 2020 delivery term.

**7. TOOLING AND EQUIPMENT**

7.1 Supplier owns all Tooling used with regard to Current Products located at a Supplier facility as of the Effective Date. With regards to Current Products, Supplier shall inspect and maintain all patterns, dies, tooling, gauging and facilities necessary for the manufacture of the Current Products, irrespective of whether such tooling is owned by Cummins or Supplier and whether such tooling is standard or unique to the manufacture the Current Products. Supplier shall keep all such tooling, gauging and facilities in good working order and condition, fully covered by insurance (replacement value and cost) and free from liens and other encumbrances. Supplier shall provide Cummins with detailed descriptions of the tooling and related information to provide assurance that Supplier is utilizing tooling at world-class market levels.

7.2 Tooling for each program associated with each New Product shall be amortized across first- and second-year production volumes. If these volumes are not met by the end of the second year of production, Cummins shall credit Supplier for the remaining Tooling costs. Supplier shall adjust pricing to the pre-amortization levels as soon as amortization volumes are met. Supplier may accept upfront payments for Tooling.

7.3 Supplier shall fund, inspect, maintain, and repair all patterns, dies, tooling, and gauging associated with the manufacturing of the Products in accordance with industry standards; provided, however, that Cummins shall pay for any costs associated with replacing such items at their end of life used solely for First-Fit Products or Service Products. Supplier shall notify Cummins within a commercially reasonable time of such items that may require replacement. For the avoidance of doubt, Cummins shall not pay any costs associated with replacing any tooling used for aftermarket or mixed use purposes by Supplier.

7.4 If applicable, Supplier shall affix a "Cummins Fixed Asset" tag to all Cummins-owned tooling and such tooling shall not be commingled with the property of Supplier or any third Person and shall not be moved from Supplier's premises without Cummins' prior written approval. Supplier shall maintain a list of the Cummins-owned tooling and shall provide such list to Cummins on an annual basis, and more frequently as reasonably requested by Cummins. To the extent permitted by law, Supplier waives any and all rights to object to the repossession and turnover of the Cummins-owned tooling to Cummins in the event Supplier defaults under this Agreement or becomes the subject of, whether voluntarily or involuntarily, any insolvency proceeding, including, but not limited to, any bankruptcy proceeding.

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7.5 Upon the termination or expiration of this Agreement, Supplier shall continue to own all tooling used in regard to Current Products, and shall own the tooling with regard to New Products. If the Parties mutually agree in writing, Cummins may purchase, and Supplier may agree to sell, any Cummins-unique tooling owned by Supplier and used in the manufacture of the Current Products.

**8. BRANDING, PACKAGING AND INVOICE DOCUMENTATION**

8.1 All Products sold to Cummins shall have the "Fleetguard" branding and packaging in effect immediately prior to the Effective Date, except where branded or packaged otherwise as of the Effective Date.

8.2 Products delivered by Supplier shall be properly packaged and labeled as per the version of the Cummins Global Packaging Standard for Production Parts and Global Packaging Standards for New & ReCon Parts which exists as of the Effective Date. The Global Packaging Standard for Production Parts and Global Packaging Standards for New & ReCon Parts are published with links at https://public.cummins.com/sites/CSP/en-us/Pages/StandardsProcesses.aspx<u>.</u>

8.3 Supplier shall label and mark the Products and the respective packaging with the Country of Origin ("<u>COO</u>") and shall package, label, and mark the Products in accordance with the Product Specifications, all other directions of Cummins, and as otherwise required to comply with the Applicable Laws of the country of ultimate destination of the Products. The COO on the packaging must match what is marked on Products. Supplier shall provide valid and correct Certificates of Origin for all of the Products and Free or Preferential Trade Agreement Certificates (*e.g.,* United States-Mexico-Canada Agreement (USMCA), Generalized Systems of Preferences (GSP), and FTA) for all eligible Products and shall take reasonable and prudent steps (including complying with all legal requirements) to ensure such certificates are correct and accurate. Such certificates shall be provided to Cummins seven (7) calendar days in advance of the physical arrival of the shipment at the port of entry or within fourteen (14) calendar days of request in the case of periodic certificates or declarations. Failure to provide the required documentation within the requested time frame can result in extra costs to Cummins which Supplier will be required to reimburse in total.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.1 Cummins may request that the COO is denoted on the commercial invoice and packing list. When required, Supplier shall ensure the COO on the Product packaging and shipping documentation consistently match.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.2 Supplier shall participate in any COO data solicitation processes that Cummins may in future implement at the sole discretion of Cummins and comply with any and all requests for information made under those processes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.3 The COO for all part numbers is denoted in the Manufactured COO column of the MPL.

8.4 Supplier shall allow Cummins, Cummins employees, agents or representatives (including an auditor, legal service firm or professional services firm) (the "<u>Appointed Adviser</u>") to access and audit any of the Supplier's documents, records, data, systems or processes as may be reasonably required in order to (i) confirm the validity of the preferential origin claim underlying any COO (or equivalent statement of origin) provided by Supplier pursuant to Section 8.3, and (ii) verify that Supplier maintains a robust origin management system which allows Supplier to fulfil its obligations under this Agreement in respect of any COO (or equivalent statement of origin) issued to Cummins.

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8.5 Cummins shall use reasonable endeavors to ensure that the conduct of any verification visit pursuant to Section 8.4 does not unreasonably disrupt Supplier.

8.6 Cummins shall ensure that the Appointed Adviser enters into an appropriate confidentially arrangement confirming the Appointed Adviser will not disclose commercially sensitive data, pricing, or similar information to Cummins.

8.7 If Cummins identifies a material risk that a COO (or equivalent statement of origin) provided by Supplier may be invalid and considers that the Certificate of Origin (or equivalent statement of origin) may be found invalid by any customs authority, then Cummins (without prejudice to its other remedies) shall notify Supplier in writing of its concerns. Supplier shall, within five (5) business days of such notice, respond in writing confirming whether it agrees with Cummins (and if not the basis for the disagreement) and its proposed rectification plan. Supplier shall ensure such rectification plan is agreed in writing with Cummins (Supplier and Cummins each acting reasonably) and Supplier shall implement such rectification plan.

8.8 The Parties shall bear their own costs and expenses incurred in respect of compliance with their obligations under this Section 8 unless the audit identifies a material default by Supplier, in which case Supplier shall reimburse Cummins for all its reasonable costs incurred in the course of the audit; provided, however that Supplier and Cummins may engage in the Negotiation Mechanism if Supplier challenges such costs incurred pursuant to this Section 8.8, and Supplier has the right to seek recovery of such costs.

**9. SHIPPING AND DELIVERY**

9.1 Supplier shall manage and supply the Products consistent with the terms set forth in Schedule B (Continuity of Supply) attached hereto in order to timely and effectively meet the Delivery Performance Requirements set forth in Schedule B (Continuity of Supply).

9.2 Cummins reserves the right to cancel or reschedule any Purchase Order or release for which a shipment has been delayed without penalty or charge if Cummins' customers cancel or reject the underlying Products due to such delay.

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9.3 Cummins reserves the right to make additional and commercially-reasonable changes to the shipping and invoice documentation requirements for this Agreement upon reasonable notice to Supplier, provided that any costs associated with such changes shall be paid by Cummins to Supplier.

9.4 Supplier commits to the Delivery Performance Requirements set forth in Schedule B (Continuity of Supply). The Parties shall cooperate in good faith and mutually develop a path to achieve such Delivery Performance Requirements, which shall be agreed to, in writing, after the execution of this Agreement.

**10. ENGINEERING CHANGE**

10.1 At any time, Supplier may make any improvements to the Products as Supplier may determine in its discretion. Supplier will communicate such improvements to Cummins at least thirty (30) days prior to implementation with respect to any future Products to be delivered to Cummins.

10.2 Supplier shall coordinate the engineering change breakpoint with Cummins for both Serial Production Products and Service Products. The Parties shall work together to ensure a smooth transition from current Products to new Products.

10.3 Supplier will build sufficient parts banks as necessary to meet agreed-upon implementation timing as negotiated between the Parties. If the part is classified as "use up," "go to," "change," Supplier shall work with Cummins to avoid excess stock.

10.4 In the event of a major engineering change, Cummins shall assign a new part number to the changed Product, the changed Product shall not be considered a product subject to the terms of this Agreement. The Parties shall mutually agree upon the commercial terms that will govern the supply of such products.

10.5 Supplier shall manage any engineering changes with Tier 2-N supplier(s).

**11. QUALITY**

11.1 Supplier agrees to accept the terms of the standards, procedures and processes set forth in the current edition of the Cummins Inc. – Supplier Handbook (Customer Specific Requirements) published as of the Effective Date on the Cummins Supplier Portal (https://public.cummins.com/sites/CSP/en-us/Pages/Supplier-Quality.aspx<u>)</u> and maintain compliance with such terms within one (1) year from the Effective Date and such other standards and procedures that may be agreed between the Parties in writing from time to time; provided, however that Supplier shall maintain strict compliance with those terms in place to comply with Applicable Laws. Any terms or expressions which are not defined in this Section 11 shall be construed in accordance with the relevant provisions in the Cummins Inc. Supplier Handbook (Customer Specific Requirements). To the extent that Cummins Standards & Processes, including the Supplier Handbook, conflict with this Agreement, the provisions in this Agreement control. Any terms or expressions which are used in this Section 11, but are not defined in this Agreement, shall be construed in accordance with the relevant provisions in the Supplier Handbook. When submitting a quotation for new products, Supplier shall demonstrate a clear understanding of the product specifications, requirements, and applications. Supplier may, upon approval from Cummins, participate in the Drawing Quality Review (DQR) process to ensure full understanding of the Cummins product definition. When an enhanced Request for Proposal ("RFQ") is requested by Cummins, the quote should include a product/process design with a zero-defect mindset in collaboration with Cummins Supplier Quality Improvement Engineer ("<u>SQIE</u>").

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11.2 Supplier shall institute and maintain a quality control and inspection system for the Products that are registered and compliant with IATF 16949:2016 and/or ISO 9001:2015 as detailed in the Cummins Incorporated Supplier Handbook (Customer-Specific Requirements).

11.3 Supplier shall implement and maintain a system where all Cummins Customer Special Characteristics are under Statistical Process Control ("<u>SPC</u>"). Controlled characteristics must include, without limitation, those characteristics identified as critical or major on the Cummins prints and those identified as key by the Cummins SQIE. Minimum acceptable process capability shall be as defined by the Cummins Inc. - Supplier Handbook (Customer-Specific Requirements).

11.4 Supplier shall not deviate from the requirements and Specifications for the Products without written advance authorization from Cummins. Authorization requests shall be reviewed and approved by a Cummins SQIE prior to shipment of the Product(s) affected by such proposed changes to the applicable Cummins' Locations.

11.5 Supplier agrees to create and implement a year-over-year continual improvement plan, as required by ISO9001 and/or IATF16949, that shall include key supplier quality key performance indicators ("<u>KPIs</u>") as agreed upon with Cummins SQIE. The elements of the continual improvement plan must be achieved and maintained despite any fluctuation in the volume of Product purchased by Cummins. The baseline for the KPIs will begin at the date of execution of this Agreement.

11.6 As part of the continual improvement plan, Supplier shall work with Cummins to identify specific projects and project timelines to proactively address potential causes of nonconformities before they occur. Preventive actions shall align with the severity and likelihood of the potential nonconformities. Within a reasonable time of a request by Cummins, Supplier shall present a list of specific quality improvement projects to Cummins in a separate document related to process and/or Product improvement to be approved by Cummins SQIE. Any continual improvement plan put into place will be reviewed periodically in conjunction and agreement with the SQIE and amended as required. Supplier will demonstrate a "zero-defect" mindset by providing "year-on-year" continual improvement initiatives that impact operational excellence, quality performance, service, cost and are in line with technical advancements. Supplier shall make commercially reasonable efforts to employ the 3P methodology (Prevent, Predict, Protect), lean manufacturing techniques and Manufacturing Quality Verification to achieve the desired quality improvements. Supplier shall make commercially reasonable efforts to employ the 3P methodology (Prevent, Predict, Protect), lean manufacturing techniques and Manufacturing Quality Verification to achieve the desired quality improvements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6.1 In the event Supplier has adverse quality trends and/or repeat non-conformance, and Supplier has failed to meet the agreed upon continual improvement plan, Supplier may be required, at Supplier's expense, to participate in a formal Cummins Supplier Performance Management Process, which includes Supplier Improvement Process program (SIP)/Focus or KEPT process, and/or participation in Controlled Shipping/Consequential Management activities, which may include third-party containment/component certification processes that are provided at Supplier's expense. These actions will be implemented at the direction of Cummins Supplier Quality Leadership and will be monitored at a senior level at Cummins. Supplier's senior management must actively participate in any quality improvement efforts within a reasonable time.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6.2 In assessing Supplier's continual improvement plan, Cummins SQIE will focus on several areas, including but not limited to fail safe/poke-yoke, robust quality gates, in-process verification, integrated SPC techniques, EOL (end of line testing), robust traceability with integrated infrastructure, population-based limits, machine downtime and testing methods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6.3 In addition to the requirements set forth in Section 11.6.1, if Supplier fails to adhere to the terms of the mutually agreed upon continual improvement plan, Supplier will be expected to invest in improving quality performance prior to participating in future RFQs with Cummins, conditioned upon Supplier's agreement in writing to make any such investments.

11.7 Cummins will notify Supplier when a Product non-conformance has occurred and instruct Supplier as to whether a Supplier Corrective Action Response ("<u>SCAR</u>") is required. Supplier shall immediately respond with documented corrective action to the quality control violation or non-conformance issue, including, without limitation, violations of the requirements and standards set forth in this Section 11.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7.1 If Cummins issues a SCAR to Supplier, Supplier must take effective action to: contain the defect within one (1) hour of notice of the quality control problem or non-conformance issue, identify the root cause of the defect and implement a short-term corrective action within forty-eight (48) hours of notice, submit a short-term corrective action plan to Cummins within ten (10) calendar days of notice, and implement the approved long-term corrective action plan within thirty (30) calendar days of notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7.2 In the event Cummins determines, in its sole discretion, that Supplier's SCAR response is inadequate or, in the event of a recurring quality control violation or non-conformance issue (in addition to the corrective actions set forth in Section 11.6.1 above), Cummins reserves the right to institute a third-party investigation and certification at Supplier's location. Such third-party investigation and certification may be conducted at Supplier's expense; provided, however that Supplier and Cummins may engage in the Negotiation Mechanism if Supplier challenges such costs incurred in performing its obligations under this Section 11.7.2, and Supplier has the right to seek recovery of such costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7.3 If Cummins does not issue a SCAR to Supplier and, instead issues a Non-Conforming Material Report (NCMR), then Supplier, at a minimum, shall take all reasonable commercial actions necessary to contain and prevent any additional defects, issues, or violations. If requested by Cummins, Supplier shall respond to an identified quality control violation or non-conformance issue by utilizing the Cummins Seven (7) Step Problem Solving Process or a similar methodology approved by Cummins.

11.8 Cummins endorses a no-inspect policy that dictates any random audit and inspection performed by Cummins whose findings conclude poor quality being received and confirmed to be caused by Supplier will result in an inspection charge being levied against Supplier for the specific inspection incident plus all future inspections until three (3) successive inspections result in zero (0) quality issues; provided, however that Supplier and Cummins may engage in the Negotiation Mechanism if Supplier challenges such costs incurred in performing its obligations under this Section 11.8, and Supplier has the right to seek recovery of such costs.

11.9 Cummins will employ designated third-party Quality Service Providers ("<u>QSPs</u>") to contain and inspect any Supplier quality issues that may arise. Supplier will be informed of the defective batch and will be expected to contact the QSP to authorize inspection/containment work to be carried out on Supplier's behalf at the applicable Cummins Location and issue corresponding purchase orders to cover cost of this activity.

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11.10 For material being stored at a Supplier or Supplier's third-party warehouse provider, Supplier will employ a designated internal party QSP, or if resources are not immediately available, a third party QSP to contain and inspect any Supplier quality issues that may arise. Supplier will be expected to contact the QSP to authorize inspection/containment work to be carried out on Supplier's behalf at the applicable Supplier-designated facility and issue corresponding Purchase Orders to cover cost of this activity.

11.11 Supplier shall maintain strict adherence to Cummins Engineering Standard ("<u>CES</u>") 10903. For the purposes of this clause, CES 10903 shall mean the version of CES 10903 published on the Cummins Supplier Portal (http://supplier.cummins.com) as of the Effective Date, and such other standards and procedures that may be agreed between the Parties in writing from time to time.

11.12 Supplier must provide Full Material Disclosure ("<u>FMD</u>") Data within the items and components sold to Cummins upon request. For the purposes of this clause, FMD Data means all data and information down to a homogeneous material level required for the purposes of making full material disclosure on products:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12.1 Supplier shall provide FMD Data in any one of the following Cummins' preferred electronic formats:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CDX,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· IMDS,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· BOMCheck,
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Anthesis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12.2 Supplier shall provide item/component-specific declarations upon proposed changes to the chemical composition of the items/components prior to their implementation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12.3 Supplier shall obtain from Cummins, in accordance with CES 10903, the applicable written approvals/exemptions for authorized use of Declarable List Substances (as defined in CES 10903) prior to source release of preproduction parts and prior to the production part approval process of new/revised parts.

11.13 SQIE must approve any process or manufacturing location changes on items produced for Cummins prior to implementation of such changes. Supplier agrees to provide Cummins advance written notification in order to allow adequate time to review and approve such changes. If a manufacturing location change is approved by Cummins pursuant to this Section 11.13, then Supplier and Cummins will discuss the appropriate allocation of the costs incurred for source approval (e.g., tooling and validation costs).

11.14 Following notice of a violation of these requirements and a ten (10) calendar-day grace period for remediation, Cummins may initiate cost recovery for continued or repeat failures and violations in accordance with the Negotiation Mechanism.

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**12. PREFERRED SUPPLIER**

The Parties shall comply with the preferred supplier terms set forth in Schedule H (Preferred Supplier Terms, Exclusivity, and Limitation of Liability).

**13. PROCESS FOR NON-CONFORMING MATERIAL**

13.1 A Cummins Location will notify Supplier immediately when a Non-conforming Material Process or Non-Conforming Material occurs. Supplier should refer to the Cummins Inc. - Supplier Handbook (Customer Specific Requirements) for guidance on Non-Conforming Material published on https://public.cummins.com/sites/CSP/en-us/Pages/Supplier-Quality.aspx, in existence as of the Effective Date and such other standards and procedures that may be agreed between the Parties in writing from time to time.

13.2 In the case of Non-Conforming Material, Supplier shall take timely action to provide replacement material to meet Cummins Location's demand.

13.3 Before any Non-Conforming Material can be returned, the Cummins Location must request from Supplier a Return Material Authorization (RMA) number which must be quoted on all associated paperwork. In the case of a Non-conforming Material Process, including but not limited, to delivery without Packing List or Advanced Shipment Notice (ASN), improper labeling, etc., a Process Non-Conforming ("<u>PNC</u>") will be issued for corrective action and the costs associated will be stated on the PNC document.

13.4 The Parties may initiate good faith negotiations to review any and all reasonable additional costs incurred as a result of Rejections/Returns from Cummins Location(s) or its Customer Site due to Supplier non-conformance, including without limitation, scrap, rework, engine damage, tear down/re-test expenses, costs resulting from the loss of production time and charges from Cummins' customers assembly disruptions/work stoppage, administrative expenses, expenses due to travel, containment and sorting of parts done by Cummins using third-party in the warehouses and customer premises, costs resulting from SQIE work beyond normal planned activity, downtime costs related to resource overtime incurred, for example, where product out-of-flow or line stoppage can be directly attributable to material shortage or PNC, or when parts have to be screened by Cummins, or reasonable additional and/or premium freight costs that are directly attributable to Supplier performance (including early/unscheduled delivery of parts that are returned to Supplier, non-conforming parts returns, damage of parts due to Supplier incorrectly loading a vehicle, etc.). The Parties shall engage in the Negotiation Mechanism in the event the Parties cannot agree on cost recovery.

13.5 In the case of Material/Process Non-Conforming, Cummins may require Supplier at specific Cummins Locations to take immediate action to re-issue replacement Product(s) from the local SMI or Consignment Warehouse within a pre-determined timeline.

**14.** **EXCLUSIVITY AND SERVICE PRODUCTS**

14.1 The Parties shall comply with the exclusivity terms of Schedule H (Preferred Supplier Terms, Exclusivity, and Limitation of Liability).

14.2 Except as otherwise permitted pursuant to the Intellectual Property License Agreement, Supplier shall not manufacture, sell, market, consign or deliver, directly or indirectly, any products that: (i) infringe the Intellectual Property of Cummins; or (ii) use any Intellectual Property supplied by Cummins to Supplier not related to any Current Products or New Products, except to Cummins or to a Cummins' designee.

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14.3 Cummins drawings, parts and engine catalogs are protected by copyright. Supplier shall not, in any case, make available to anyone, including their own aftermarket organizations, if applicable: Cummins hardcopy or electronic drawings, Cummins hard copy or electronic catalogs or Cummins electronic tools.

14.4 Supplier shall set the initial Post-Production Price and may adjust it annually, in a commercially reasonable manner. Supplier shall provide Cummins with the Post-Production Price at least 12 months prior to the Serial Production ending date, provided that Cummins provides Supplier with at least eighteen (18) months prior written notice of Serial Production completion.

14.5 Cummins has the option to make a one-time buy of each Product at the Serial Production Price ("<u>Post-Production Purchase Option</u>") provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5.1 Cummins provides Supplier with at least eighteen (18) months prior written notice of Serial Production completion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5.2 Cummins provides Supplier with at least nine (9) months prior written notice of its intent to exercise the Post-Production Purchase Option, and includes the desired quantity of the one-time buy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5.3 Supplier has the capacity to meet the quantity requested by Cummins in the Post-Production Purchase Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5.4 If requested by Supplier, Cummins will take delivery of all Products ordered pursuant to the Post-Production Purchase Option prior to, but not later than, the Serial Production completion date.

**15. WARRANTY**

The Parties shall comply with the terms of the Warranty Agreement attached hereto as Schedule C.

**16. DESIGN RESPONSIBILITIES**

16.1 With respect to the creation of the design for the parts, Cummins and Supplier shall cooperate as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1.1 <u>Process</u>: Supplier shall collaborate with Cummins to deliver the design of the Product parts consistent with the provided Component Technical Profile and shall provide any feedback regarding changes to the Component Technical Profile to Cummins. Supplier shall ensure that the Product parts comply with System Interface Constraints and the part environment that is to be used during the final assembly. Supplier agrees to only use the materials set forth in the Component Technical Profile. Supplier agrees to purchase Tier 2-N materials or components to assemble into the part(s) from the supplier(s) mentioned in the Component Technical Profile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1.2 <u>License Grant</u>: Supplier grants Cummins the right to use and reproduce all versions/revisions of the Supplier-generated engineering drawings and/or graphics related to the Products, and to disclose such materials to Cummins' customers, solely for the limited purposes of: (i) marketing Cummins products to Cummins' customers; and (ii) such Cummins' customers performing product validation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1.3 <u>Reservation of Rights</u>: Cummins retains ownership of all materials and information it provides to Supplier, including but not limited to the Component Technical Profile, related literature, drawings, 3D models, data, and anything else related to the Component Technical Profile, along with any updates requested by Supplier.

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**17. PERFORMANCE MANAGEMENT AND CONTINUOUS IMPROVEMENT**

17.1 A performance review of Supplier will be held by Cummins at least annually.

17.2 Cummins will conduct an appropriate level of in-plant or virtual visits including representatives from Sales, Quality, Production Control and Engineering. The frequency and types of visits will be agreed upon by the Parties.

17.3 The Parties will proactively participate in joint improvement projects related to performance, including, but not limited to lead time reduction, inventory reduction, delivery performance improvement, response improvement, premium freight reduction, packaging cost reduction, and transportation cost reduction. If requested by Cummins, and if Supplier agrees to in writing, Supplier may participate in Six Sigma training and support Cummins Six Sigma improvement projects. Supplier shall ensure that all of its employees and agents who are engaged in the activities under this Agreement are adequately trained with respect to its obligations under this Agreement and the additional guidelines communicated by Cummins to Supplier.

**18. CONFIDENTIALITY AND NON-DISCLOSURE**

Both Parties shall abide by the confidentiality and other related obligations set forth in Section 6.5 of the Separation Agreement. The Parties shall implement safeguards to prevent the destruction, loss, or alteration of such Confidential Information (as defined in the Separation Agreement).

**19. INTELLECTUAL PROPERTY OWNERSHIP**

19.1 <u>Background Intellectual Property</u>. Each Party shall retain all right, title, and interest in and to its Background Intellectual Property. The term "<u>Background Intellectual Property</u>" means the Intellectual Property of either Cummins or Supplier relating to the Products that either: (i) constitutes a Cummins Retained Asset (in case of Cummins) or a Filtration Asset (in case of Supplier), as applicable, or (ii) that each Party acquires or develops after the Effective Date but in a strictly independent manner (without the use of or reference to the Intellectual Property of the other Party) and entirely outside of any work conducted under the Agreement.

19.2 <u>Foreground Intellectual Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2.1 "<u>Foreground Intellectual Property</u>" or "<u>Foreground IP</u>" means all Intellectual Property invented, authored, conceived, developed, derived, prepared, discovered, reduced to practice, or otherwise created and that arises from the performance of this Agreement during the Term.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2.2 <u>Cummins Foreground IP</u>. Cummins shall own all rights, title and interests in all Foreground IP that is created solely by Cummins after the Effective Date, pursuant to this Agreement, and during the Term ("<u>Cummins Foreground IP</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2.3 <u>Supplier Foreground IP</u>. Supplier shall own all rights, title, and interests in all Foreground IP that is created solely by Supplier after the Effective Date, pursuant to this Agreement, and during the Term ("<u>Supplier Foreground IP</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2.4 <u>Joint Foreground IP</u>. If the Parties jointly create Intellectual Property after the Effective Date, pursuant to this Agreement and during the Term ("<u>Joint Foreground IP</u>"), the Parties shall be co-owners of such Joint Foreground IP. Whether a Party was involved in the creation of particular Intellectual Property shall be determined in accordance with the rules for inventorship under U.S. patent law. Each Party shall cause its employees and counsel to cooperate in good faith with the other Party and its counsel in obtaining, protecting, and enforcing Joint Foreground IP. This cooperation will include, as appropriate, good faith negotiation of a separate written agreement documenting the rights and obligations of the Parties regarding the prosecution and enforcement of patent and other rights in the Joint Foreground IP.

19.3 <u>Assignment of Interest in Foreground IP</u>. Each Party (the "<u>Assigning Party</u>") hereby irrevocably assigns, and shall cause the assignment of, any and all rights, title, and interest in and to the other Party's Foreground IP, including any moral rights therein, to the other Party (the "<u>Owning Party</u>") and further acknowledges that any such Foreground IP rights shall inure to the benefit of and be immediately and solely vested in the Owning Party. The Assigning Party shall in good faith aid the Owning Party and perform all actions reasonably requested by the Owning Party at the Owning Party's expense, including executing any instruments to effectuate the assignment of and ownership in such Foreground IP hereunder and the prosecution, exercising and enforcement of any and all such Foreground IP.

19.4 <u>IP Registration</u>. Each Party shall have the exclusive right to apply for or register any patents, mask work rights, copyrights, and such other proprietary protections, formal or informal, with respect its Intellectual Property, on a world-wide basis, and to incorporate it into any Products at no additional charge in any manner. Each Party shall cooperate, as reasonably requested by the other Party, in order effectuate their respective ownership in and to obtain all available protection for their respective Foreground IP and each Party shall execute such documents, including assignment of rights, patent assignments, render such assistance, including reasonable efforts to obtain the execution of patent applications by the individual inventors of such inventions, and take such other actions as may reasonably be request, at such requesting Party's expense, to apply for, register, perfect, confirm, and protect such Party's rights in its respective Foreground IP or any embodiment of such Foreground IP in any Product. Each Party shall be solely responsible for compensation payable to its individual inventors by law, if any, or by contract, if any.

19.5 <u>Trademark Rights</u>. Unless otherwise agreed to in writing by the Parties, Supplier acknowledges and agrees that Cummins owns all rights in and to its Trademarks, and Cummins does not, under this Agreement, grant Supplier any licenses to such Trademarks. Supplier shall not register or create, use, register or market any similar name, tradename, trademark, service mark, graphic, logo, brand, uniform resource locator, trade dress or other designation containing, being a derivative of or otherwise similar to the Cummins' Trademarks.

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19.6 <u>Infringement</u>. Supplier represents and warrants to the best of its knowledge and understanding as of the Effective Date of this Agreement that (except to the extent the Products are manufactured in accordance with Specifications provided by Cummins), the manufacture, assembly, use, sale, and/or distribution of the Products do not and will not infringe the Intellectual Property rights of any third party, worldwide.

19.7 <u>Infringement Notification and Response</u>. During the Term and with regard to the Products, each Party shall immediately notify the other Party of any alleged, actual, or apparent infringement of the other Party's Intellectual Property, including, without limitation, any Trademark, Product, patent, or trade dress, of which it becomes aware. The Party owning the Intellectual Property shall have the right, but not the obligation, to take legal action to restrain such infringement and to settle any litigation or threat of litigation relating to such infringement on terms satisfactory to it. If requested, a Party shall aid the other Party at the other Party's expense in the prosecution or settlement of such litigation.

**20. INDEMNIFICATION**

20.1 Supplier agrees to indemnify and hold harmless Cummins, its customers, Affiliates, Subsidiaries, and its, its Affiliates' and its Subsidiaries' respective officers, directors, agents and employees (collectively, "<u>Cummins Indemnified Parties</u>") from and against all losses, liabilities, costs, damages or expenses including reasonable attorney's fees ("<u>Losses</u>"), arising out of, connected with, or resulting from any of the following in Sections 20.1(i) through 20.1(iv), but in each case Supplier's responsibility for the Losses shall be limited only to the degree that Supplier or any of its Affiliates caused such Losses: (i) any actual or alleged breach by Supplier of this Agreement; (ii) any claim alleging the infringement of any third party's patent, trademark, copyright or other rights due to its sale or use, alone or in combination, of the Products, including the Products and designs developed by Supplier, except to the extent the alleged infringement is directly attributable to the Products being manufactured solely in accordance with the Specifications; (iii) any Product recalls, except to the extent such recall is caused by changes, additions or modifications to the Products by Cummins, Cummins' customers, or made at Cummins' request, and which changes, additions or modifications were not approved by Supplier; or (iv) any death or injury to any person, damage to any property, or any other damage or loss which is claimed to have resulted in whole or in part from the purchase, sale, use or operation of any Product or any alleged defect in such product whether latent or patent, including any failure to manufacture the Products according to the Specifications, or to provide adequate warnings, labeling or instructions specified by Cummins, except to the extent such death, injury, damage, or loss arises from the specifications or any material alteration, modification or improper or unauthorized service and repair of the Product performed by Cummins or its customers. Notwithstanding anything to the contrary above, Supplier will not be liable for or obligated to indemnify and hold harmless the Cummins Indemnified Parties from and against Losses for any claim to the extent arising out of, connected with or resulting from Supplier's or its subcontractor's compliance with Cummins' designs, Specifications and/or instructions, as they relate to infringement of Intellectual Property, and Cummins will defend, indemnify and hold Supplier harmless for any such Losses. Cummins shall also defend, indemnify and hold Supplier harmless for Losses directly resulting from (a) Cummins' product claims (including without representation any marketing and product use claims), whether written or oral, made by Cummins publicly where such product claims were not provided by or approved, in writing, by Supplier; (b) grossly negligent handling by Cummins of the Products; (c) changes, additions or modifications to the Products by Cummins or made at Cummins' request; (d) any Product recall resulting from Cummins' installation of, or changes to, the Product, or resulting from other Cummins' products or components; or (e) the unauthorized commercialization of a prototype Product.

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20.2 Other than with respect to Third Party Claims, which shall be governed by Section 20.3, each indemnified Party, on behalf of itself and in case of Cummins, the other Cummins Indemnified Parties (each, an "<u>Indemnitee</u>"), shall notify in writing, with respect to any matter that such Indemnitee has determined has given or could give rise to a right of indemnification under this Agreement, the Party which is or may be required pursuant to this Section 20 to provide such indemnification (the "<u>Indemnifying Party</u>"), within forty-five (45) days of such determination, stating in such written notice the applicable indemnification claim in reasonable detail; provided, however, that the failure to provide such written notice shall not release the Indemnifying Party from any of its obligations except and solely to the extent the Indemnifying Party shall have been actually materially prejudiced as a result of such failure. If such Indemnifying Party rejects such claim in whole or in part, the disputed matter shall be resolved in accordance with Section 35.

20.3 If a claim or demand is made against an Indemnitee by any Person who is not a Party or a member of a Party's Group (a "<u>Third Party Claim</u>") as to which such Indemnitee is or may be entitled to indemnification pursuant to this Agreement, such Indemnitee shall notify the Indemnifying Party in writing (which notice obligation may be satisfied by providing copies of all notices and documents received by the Indemnitee relating to the Third Party Claim), and in reasonable detail, of the Third Party Claim promptly (and in any event within the earlier of (x) forty-five (45) days or (y) two (2) Business Days prior to the final date of the applicable response period under such Third Party Claim) after receipt by such Indemnitee of written notice of the Third Party Claim; provided, however, that the failure to provide notice of any such Third Party Claim pursuant to this or the preceding sentence shall not release the Indemnifying Party from any of its obligations except and solely to the extent the Indemnifying Party shall have been actually materially prejudiced as a result of such failure.

20.4 An Indemnifying Party shall be entitled, if it so chooses, to assume the defense of a Third Party Claim, and if it does not assume the defense of such Third Party Claim, to participate in the defense of any Third Party Claim in accordance with the terms of this Section 20.4 at such Indemnifying Party's own cost and expense and by such Indemnifying Party's own counsel, that is reasonably acceptable to the Indemnitee, within thirty (30) days of the receipt of an indemnification notice from such Indemnitee; provided, however, that the Indemnifying Party shall not be entitled to assume control of the defense against a Third Party Claim to the extent such Third Party Claim (i) is an Action by a Governmental Entity; (ii) involves an allegation of a criminal violation or quasi criminal proceeding, action, indictment, allegation or investigation, (iii) seeks injunctive relief, specific performance or any other equitable or non-monetary relief against Indemnitee, or (iv) the Indemnitee reasonably believes an adverse determination with respect to the Third Party Claim would be materially detrimental to or materially injure the Indemnitee's reputation or future business prospects. Notwithstanding the foregoing, the Parties acknowledge and agree that Cummins shall have the sole and exclusive right to defend or assume any Third Party Claim involving Cummins' customers.

20.5 In connection with the Indemnifying Party's assumed defense of a Third Party Claim, such Indemnitee shall have the right to employ separate counsel and to participate in (but not control) the defense, compromise, or settlement thereof, at its own expense and, in any event, shall cooperate with the Indemnifying Party in such defense and make available to the Indemnifying Party, at the Indemnifying Party's expense, all witnesses, pertinent Information, materials and information in such Indemnitee's possession or under such Indemnitee's control relating thereto as are reasonably required by the Indemnifying Party; provided, however, that in the event of a conflict of interest between the Indemnifying Party and the applicable Indemnitee(s), or in the event that any Third Party Claim seeks equitable relief which would restrict or limit the future conduct of the Indemnitee's business or operations, such Indemnitee(s) shall be entitled to retain, at the Indemnifying Party's expense, separate counsel as required by the applicable rules of professional conduct with respect to such matter; provided, further, that, if the Indemnifying Party has assumed the defense of the Third Party Claim but has specified, and continues to assert, any reservations or exceptions to such defense or to its liability therefor, then, in any such case, the reasonable fees and expenses of one separate counsel for all Indemnitees shall be borne by the Indemnifying Party.

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20.6 The Indemnifying Party shall have the right to compromise or settle a Third Party Claim the defense of which it shall have assumed pursuant to this Section 20 and any such settlement or compromise made or caused to be made of a Third Party Claim shall be binding on the Indemnitee, in the same manner as if a final judgment or decree had been entered by a court of competent jurisdiction in the amount of such settlement or compromise. Notwithstanding the foregoing sentence, the Indemnifying Party shall not settle any such Third Party Claim without the written consent of the Indemnitee unless such settlement (i) completely and unconditionally releases the Indemnitee in connection with such matter, (ii) provides relief consisting solely of money damages borne by the Indemnifying Party, and (iii) does not involve any admission by the Indemnitee of any wrongdoing or violation of Law.

20.7 If an Indemnifying Party fails for any reason to assume responsibility for defending a Third Party Claim within thirty (30) days after receipt of the written notice in accordance with Section 20.4, such Indemnitee may defend such Third Party Claim at the cost and expense of the Indemnifying Party. If an Indemnifying Party has failed to assume the defense of the Third Party Claim within the time period specified in Section 20.4, it shall not be a defense to any obligation to pay any amount in respect of such Third Party Claim that the Indemnifying Party was not consulted in the defense thereof, that such Indemnifying Party's views or opinions as to the conduct of such defense were not accepted or adopted, that such Indemnifying Party does not approve of the quality or manner of the defense thereof or that such Third Party Claim was incurred by reason of a settlement rather than by a judgment or other determination of liability. In any event, the Indemnifying Party and the Indemnitee shall reasonably cooperate in the defense of any Third Party Claim and the records of each shall be reasonably available to the other with respect to such defense to the extent permitted by Applicable Law.

20.8 Supplier shall be solely responsible for, and its indemnification obligation under this Section 20 shall extend to, all acts and omissions of any of its Affiliates, successors, and permitted assigns, and its, or their, respective officers, directors, employees, agents, or contractors in the performance of its obligations under this Agreement. This Section 20 shall survive the expiration or termination of this Agreement.

**21. TERMINATION**

21.1 The Parties may terminate this Agreement, in whole or in part, by mutual written consent.

21.2 Each Party may terminate this Agreement, in whole or in part, by providing written notice to the other Party: (i) if the other Party commits fraud or gross negligence in connection with this Agreement, including, without limitation, performance of its obligations hereunder; or (ii) if the other Party becomes insolvent, goes into liquidation, files a petition for bankruptcy or commences or has proceedings commenced against it relating to bankruptcy or receivership, in any case whether voluntary or involuntary.

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21.3 Cummins may terminate this Agreement, in whole or in part, for Supplier's breach of the version of the Cummins Supplier Code of Business Conduct as published at https://public.cummins.com/sites/CSP/SitePages/Supplier%20Code%20of%20Conduct.aspx as of the Effective Date ("<u>SCoC</u>") by providing written notice to Supplier.

21.4 Cummins may terminate the first sentence of Section 14.1 with respect to a specific Product if a claim arising from such Product's quality or performance (the "<u>Product Claim</u>") directly or indirectly results in Cummins and the Cummins Indemnified Parties suffering indemnifiable Losses pursuant to Section 20.1 in excess of the Liability Limit set forth in Schedule H (Preferred Supplier Terms, Exclusivity, and Limitation of Liability) as calculated for each Product Claim. For purposes of calculating whether an applicable Liability Limit has been reached to trigger Cummins termination right pursuant to this Section 21.4, Losses shall consist of cumulative and aggregate Losses incurred on a rolling basis during the immediate twenty-four (24) months preceding the date a Product Claim arises, including any portion of such period occurring prior to the Effective Date, and shall include Losses arising from all of the following: (i) the Product Claim; (ii) all claims under this Agreement; (iii) all claims related to all Product sales; and (iv) all claims related to any activity, conduct, or omission related to all such Product sales (the "<u>Exclusivity Liability Limit</u>"). Notwithstanding anything herein to the contrary, nothing in this Section 21.4 shall in any way impact or modify the indemnification provisions under the Separation Agreement or limit the rights and remedies of Cummins and the Cummins Indemnified Parties under the Separation Agreement.

21.5 Supplier may terminate this Agreement or suspend performance if Cummins fails to pay undisputed amounts when due, and fails to cure the non-payment within ninety (90) days after receipt of written notice from Supplier.

21.6 Cummins may terminate this Agreement, in whole or in part, if there is a Filtration Change of Control by providing written notice to Supplier.

21.7 The Parties agree that any termination, cancellation, or expiration of this Agreement (collectively, the "<u>Conclusion</u>" of the Agreement) shall not relieve either Party of any obligations and liabilities accrued prior to such Conclusion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.7.1 Cummins shall pay Supplier for the unamortized value of Supplier Tooling, equipment and other investment costs, upon receipt of an invoice from Supplier, if Cummins: (i) terminates or cancels the Agreement within the Current Product Initial Term or New Product Term; or (ii) terminates, cancels or resources any Product or program prior to end date specified in the award of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.7.2 Cummins shall pay Supplier for all finished Products, work-in-process and raw materials and component parts ordered or purchased by Supplier in the amount necessary to fulfill orders in the Lead Time, upon receipt of an invoice from Supplier, upon the Conclusion of the Agreement or upon Conclusion or resourcing of any Product or program.

21.8 No termination of this Agreement, shall relieve either Party of any obligations and liabilities accrued prior to the termination. Notwithstanding any termination of the Agreement, the Parties agree that after termination:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.8.1 Except where termination is due to fraud or gross negligence by Cummins or breach of the Supplier Code, Supplier shall sell and supply 'print compliant' Products to Cummins, at Cummins' election and request, at the established prices and terms contained within this Agreement for an additional period of up to eighteen (18) months. Cummins will provide Supplier with thirty (30) days advance written notice to terminate this required duration of continuation of supply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.8.2 Supplier shall honor the warranties of all Products sold and supplied to Cummins prior to termination in accordance with this Agreement and as specifically detailed in Schedule C (Warranty Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.8.3 Supplier shall return to Cummins all Confidential Information, prints and Specifications.

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**22. LIMITATION OF LIABILITY**

The Parties agree to the limitation of liability terms set forth in Schedule H (Preferred Supplier Terms, Exclusivity, and Limitation of Liability).

**23. FORCE MAJEURE**

23.1 Neither Party shall be liable to the other for failure to perform its obligation under this Agreement when performance is prevented by an occurrence beyond its reasonable control (including, without limitation, flood, drought, fire, war, riot, acts of God, changes in Applicable Law or epidemics, pandemics and quarantines, natural catastrophes, strikes, lockouts, and embargoes (each, a "<u>Force Majeure Event</u>")). The impacted Party shall notify the other Party within a commercially prompt time of the Force Majeure Event, stating the period of time the occurrence is expected to continue. The impacted Party shall use diligent efforts to minimize the effects of such Force Majeure Event. The impacted Party shall resume the performance of its obligations as soon as reasonably practicable after the conclusion of the Force Majeure Event. If the Force Majeure Event impacts Suppliers obligations under this Agreement, Supplier shall submit to Cummins a recovery plan or steps it shall take to ensure it can continue to perform under the Agreement within ten (10) days if it has knowledge or reasonably expects such Force Majeure Event will last longer than thirty (30) days. If such recovery plan is not acceptable to Cummins, the Parties shall engage in the Negotiation Mechanism to determine cost recovery or other mitigating strategies.

23.2 A Force Majeure Event shall not excuse a Party from delay or failure to perform its obligations under this Agreement: (i) simply because performance has become more expensive or difficult; (ii) where the failure to perform is due to the non-performing Party's fault, negligence, or lack of diligence; or (iii) where the Party asserting Force Majeure fails to provide notice as required herein.

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**24. INSURANCE AND DIVERSE SOURCING**

24.1 Supplier shall comply with the Cummins' Minimum Insurance Requirements (MIR) coverage and notification requirements, attached and incorporated herein as Schedule D.

24.2 Supplier shall comply with Schedule E (Cummins Diverse Spend Requirement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2.1 Supplier agrees to maintain a plan for Diverse Supplier sourcing that complies with Cummins Global Diversity Procurement ("GDP") Initiative and submit such plan upon reasonable advance notice. Supplier's plan shall detail how Supplier will meet the Diverse Supplier sourcing requirements. (Details regarding the Cummins Global Diversity Procurement objectives are available on the GDP website: http://diversityprocurement.cummins.com<u>)</u>. Moreover, Supplier acknowledges that meeting the diverse supplier objectives will be a consideration for award of new goods and services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2.2 In support of this requirement, Supplier agrees to track and report such purchases monthly in Cummins reporting system, including the reporting of certification in good standing of Diverse Suppliers. In the event that Supplier fails to meet the diverse sourcing objectives, Supplier agrees to take such actions necessary including participation in development plans, as deemed appropriate by the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2.3 Supplier shall comply with the regional requirements for diverse sourcing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2.4 Supplier acknowledges that Cummins expects all of its suppliers to actively pursue sourcing of materials and services from Diverse Suppliers.

24.3 Supplier shall comply with the then-current SCoC.

24.4 Supplier will ensure that it meets Customs Trade Partnership against Terrorism ("<u>C-TPAT</u>") standards in terms of the goods it supplies to Cummins and comply with any and all requests for information to support Cummins' continued participation in the C-TPAT program.

**25. COMPLIANCE WITH APPLICABLE LAWS**

25.1 Supplier covenants and agrees that the Products shall be designed, manufactured, packaged, and delivered in accordance with, and otherwise comply with, Good Industry Practice and Applicable Laws (including Applicable Laws in the country of origin and the country of ultimate destination of the Products and any other Applicable Laws to which Supplier or the Product are subject).

25.2 Supplier covenants and agrees that all activities performed, directly or indirectly, by or on behalf of Supplier pursuant to this Agreement, or in furtherance of its objectives, shall be carried out in form and substance in accordance with all Applicable Laws (including environmental and health and safety laws) and Good Industry Practice.

25.3 Supplier covenants and agrees that it will maintain all premises, plant, machinery, and equipment, and procure all materials, used for or in connection with the performance of its obligations under this Agreement in accordance with Good Industry Practice and Applicable Laws.

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25.4 Supplier covenants and agrees that it shall not do, or permit to be done, anything in connection with this Agreement or the Products, that may result in a breach of Applicable Laws by Cummins or its Affiliates.

**26. INTEGRITY OF SUPPLY CHAIN**

&nbsp;&nbsp;&nbsp;&nbsp;Supplier shall comply with its obligations set out in Schedule F (Integrity of Supply Chain). Supplier covenants and agrees to comply with all Applicable Laws relating to sanctions and exports, including all administrative acts and executive orders of the U.S. government pursuant to such laws and regulations, including, but not limited to, the U.S. Export Administration Regulations and sanctions administered by the US. Department of the Treasury. Supplier will not resell, transfer, or sell the Products in violation of Sanctions and Trade Control Laws. Supplier represents and warrants that at all times in the performance of its obligations under this Agreement, it will not take any action that causes Cummins or any of its Affiliates to violate or otherwise become exposed to penalties under any Sanctions and Trade Controls.

**27. RECORDS AND AUDITS**

27.1 Supplier agrees and undertakes that, in connection with this Agreement and in connection with any other business transactions involving Cummins, Supplier shall: (i) maintain books and records that accurately and in reasonable detail demonstrate its compliance with this Agreement; (ii) upon Cummins provision of reasonable notice, allow Cummins the right during the Term of this Agreement and for a period of six (6) years following the expiration or termination of this Agreement or as required under Applicable Laws to audit Supplier to monitor Supplier's compliance with this Agreement, including by reviewing books and records, conducting site visits, or interviewing personnel during Supplier's normal business hours; and (iii) take commercially reasonable steps may be needed to ensure that any Person providing Products (or part thereof) on behalf of Cummins under this Agreement cooperate fully in the event that Cummins decides to audit Supplier's compliance with this Agreement including by agreeing to be interviewed by Cummins or its designated legal or other professional advisors, except to the extent such person(s) have a right to decline such interview(s) under Applicable Laws. All costs and expenses incurred by Cummins in connection with its exercise of audit rights shall be the sole responsibility of Cummins. For certainty, (a) Cummins acknowledges and agrees that any right to review and audit Supplier under this Agreement is limited by and subject to Applicable Laws, and (b) Cummins acknowledges and agrees that Supplier shall have no obligation to disclose any confidential or commercially sensitive data, pricing, costing, proprietary, or other similar information or data to Cummins unless required by Applicable Laws to disclose such information to Cummins.

27.2 In the event that Cummins has a good faith belief that Supplier may not be in compliance with the requirements set out in this Agreement, Cummins shall advise Supplier in writing of its good faith belief, and Supplier shall cooperate in good faith with any and all inquiries undertaken by Cummins, including by making available Supplier personnel and supporting documents.

**28. TENDER INFORMATION**

28.1 If requested by Cummins at any time during the Term, Supplier shall provide commercially reasonable assistance to Cummins to enable Cummins (and/or its Affiliate) to bid for a customer contract.

Page 25 of 29

**29. ASSIGNMENT**

This Agreement shall inure to the benefit of and be binding upon each of the Parties and its successors. The Parties shall not assign this Agreement without the written consent of the non-assigning Party; provided that (i) Supplier may not unreasonably withhold consent for Cummins to assign the Agreement to any other Cummins Group member, and (ii) Cummins may assign or otherwise transfer, in whole or part, its rights and/or obligations under this Agreement without Supplier's prior written consent in the event of a merger, acquisition, divestiture or other change of control of Cummins. In the event Cummins authorizes the assignment of this Agreement by Supplier to a third party, the third party must agree to accept the terms of this Agreement without exception or alternation.

**30. REMEDIES AND NON-WAIVER**

30.1 The remedies of the Parties are cumulative and in addition to all remedies set forth herein or available at law or in equity.

30.2 The delay or forbearance in exercising any remedy available to it by either Party shall not constitute an election or waiver of any remedy. Any failure by any Party to enforce at any time any term or condition under this Agreement shall not be construed as a waiver of the Parties right thereafter to enforce each and every term of this Agreement.

**31. SURVIVAL**

All provisions of this Agreement which by their nature should apply beyond their terms will remain in force after any termination, cancellation or expiration of this Agreement, including without limitation, Sections 18 (Confidentiality and Non-Disclosure), 20 (Indemnification), 35 (Governing Law and Dispute Resolution), or effect of termination under Section 21 (Termination).

**32. ENTIRE AGREEMENT**

32.1 This Agreement and all Schedules specifically referenced herein, constitute the entire agreement between the Parties with respect to the matters contain herein and supersedes all prior oral or written representations or agreements.

32.2 If any provision of this Agreement becomes or is deemed invalid or unenforceable under any statute, regulation, ordinance, executive order, or other rule of law, such article, provision, or term shall be deemed reformed or deleted, but only to the extent necessary to comply with any statute, regulation, ordinance, executive order, or other rule of law, and all other articles, provisions, and terms of this Agreement shall remain in full force and effect.

32.3 Any and all changes to this Agreement shall be void and unenforceable unless and until such changes are reduced to written agreement signed by both Parties. Supplier acknowledges and agrees that Cummins Locations do not have authority to alter the terms of this Agreement.

**33.** **INTERPRETATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.1 If there is a conflict between or among the terms of this Agreement, the Schedules specifically referenced herein, the Supplier Handbook and Cummins Standards & Processes, and Cummins Purchase Orders and releases, the following order of precedence shall apply: this Agreement, the Schedules specifically referenced in this Agreement, the Purchase Order and releases, and then the Supplier Handbook and Cummins Standards & Processes.

Page 26 of 29

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.2 For purposes of this Agreement: (i) the words "include," "includes" and "including" shall be deemed to be followed by the words "without limitation"; (ii) the word "or" is not exclusive; and (iii) the words "herein," "hereof," "hereby," "hereto" and "hereunder" refer to the compete Agreement as a whole. Unless the context otherwise requires, references herein to Sections mean the Sections of this Agreement. Headings of Sections are inserted for convenience of reference only and shall not be deemed a part of or to affect the meaning or interpretation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.3 This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting an instrument or causing any instrument to be drafted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.4 Any references in this Agreement to Cummins Standards & Processes, the Supplier Handbook, or any other published Cummins documents, directives or processes, shall be construed as a reference to the editions or versions which exist as of the Effective Date, and not any future editions or versions. For clarity, Supplier is not responsible for adhering to any future editions or versions of Cummins Standards & Processes or the Supplier Handbook.

**34. NOTICES**

34.1 All notices related to this Agreement which are permitted hereunder shall be in writing and deemed to have been duly given if delivered personally or sent by facsimile transmission (with confirmation received) or overnight express mail or by registered mail or certified mail, postage prepaid.

34.2 All notices shall be sent to the following addresses (or to such other address as the Parties may designate from time to time in writing).

If to Cummins: Cummins Inc. 500 Jackson Street Columbus, Indiana (USA) 47202-3005 Attention: General Counsel Facsimile: ________________ If to Supplier: Atmus Filtration Technologies Inc. 26 Century Boulevard Nashville, Tennessee 37214 Attention General Counsel Facsimile: ________________

Page 27 of 29

**35. GOVERNING LAW, DISPUTE RESOLUTION, SEPARATION AGREEMENT**

This Agreement shall be construed and governed in accordance with the laws of the State of Delaware, excluding its choice of law statutes. Jurisdiction and venue for any suit between the Parties hereto arising out of or connected with this Agreement, or the Products or services furnished hereunder, shall be in the State of Delaware. The United Nations Convention on the International Sale of Goods does not apply to this Agreement. The Parties agree that Article VIII (Dispute Resolution) of the Separation Agreement shall be incorporated into this Agreement by reference (with appropriate and necessary adjustments being made to the effect that references to "this Agreement" therein shall be deemed to refer to this Agreement). Any terms from the Separation Agreement which are incorporated in this Agreement shall be effective and continue as a binding obligation herein, including without limitation Article VIII (Dispute Resolution), regardless of whether the Separation Agreement, or those specific provisions in the Separation Agreement, terminate or expire.

[*Signature Page Follows*]

Page 28 of 29

SIGNATURE PAGE OF THE FILTRATION FIRST-FIT SUPPLY AGREEMENT

WITNESS, the execution hereof by duly authorized representatives of each Party:

---

| | |
|:---|:---|
| **Cummins Inc.** | **Atmus Filtration Technologies Inc.** |
| By: | By: |
| Name: | Name: |
| Title: | Title: |
| Date: | Date: |

---

---

| | |
|:---|:---|
| **Cummins Inc.** | **Atmus Filtration Technologies Inc.** |
| By: | By: |
| Name: | Name: |
| Title: | Title: |
| Date: | Date: |

---

---

| | |
|:---|:---|
| **Cummins Inc.** | **Atmus Filtration Technologies Inc.** |
| By: | By: |
| Name: | Name: |
| Title: | Title: |
| Date: | Date: |

---

## Exhibit 10.6

**Exhibit 10.6**

Form of

FILTRATION AFTERMARKET SUPPLY AGREEMENT

by and between

CUMMINS INC. and ATMUS FILTRATION TECHNOLOGIES INC.,

dated as of [●], 2023

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| &nbsp;&nbsp;*Section* | &nbsp;&nbsp;*Title* |
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Purpose |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Definitions |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Products |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Term |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Pricing |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Payment and Title Transfer |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Tooling and Equipment |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Branding, Packaging and Invoice Documentation |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Shipping and Delivery, Delivery Performance |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Quality |
| &nbsp;&nbsp;11. | &nbsp;&nbsp;Relationship, Most Favored Nation, Limitation of Liability |
| &nbsp;&nbsp;12. | &nbsp;&nbsp;Non-Conforming Products |
| &nbsp;&nbsp;13. | &nbsp;&nbsp;Aftermarket Support |
| &nbsp;&nbsp;14. | &nbsp;&nbsp;Warranty |
| &nbsp;&nbsp;15. | &nbsp;&nbsp;Performance Management and Continuous Improvement |
| &nbsp;&nbsp;16. | &nbsp;&nbsp;Confidentiality and Non-Disclosure |
| &nbsp;&nbsp;17. | &nbsp;&nbsp;Intellectual Property Ownership |
| &nbsp;&nbsp;18. | &nbsp;&nbsp;Indemnification |
| &nbsp;&nbsp;19. | &nbsp;&nbsp;Limitation of Liability |
| &nbsp;&nbsp;20. | &nbsp;&nbsp;Termination |
| &nbsp;&nbsp;21. | &nbsp;&nbsp;Force Majeure |
| &nbsp;&nbsp;22. | &nbsp;&nbsp;Insurance and Diverse Sourcing |
| &nbsp;&nbsp;23. | &nbsp;&nbsp;Compliance with Applicable Laws |
| &nbsp;&nbsp;24. | &nbsp;&nbsp;Integrity of Supply Chain |
| &nbsp;&nbsp;25. | &nbsp;&nbsp;Records and Audits |
| &nbsp;&nbsp;26. | &nbsp;&nbsp;Tender Information |
| &nbsp;&nbsp;27. | &nbsp;&nbsp;Assignment |
| &nbsp;&nbsp;28. | &nbsp;&nbsp;Remedies and Non-Waiver |
| &nbsp;&nbsp;29. | &nbsp;&nbsp;Survival |
| &nbsp;&nbsp;30. | &nbsp;&nbsp;Entire Agreement |
| &nbsp;&nbsp;31. | &nbsp;&nbsp;Interpretation |
| &nbsp;&nbsp;32. | &nbsp;&nbsp;Notices |
| &nbsp;&nbsp;33. | &nbsp;&nbsp;Governing Law, Dispute Resolution, Separation Agreement |

---

Page i

Schedule A-1 – Commercial Term Sheet

Schedule A-2 – Pricing Adjustments and Payment Terms

Schedule B-1– Delivery Performance, Non-Conforming Deliveries, and Shortages

Schedule B-2 - Relationship, Most Favored Nation, Limitation of Liability

Schedule C – Warranty Agreement

Schedule D – Minimum Insurance Requirements

Schedule E – Cummins Diverse Spend Requirement

Schedule F – Integrity of Supply Chain

Page ii

FILTRATION AFTERMARKET SUPPLY AGREEMENT

This FILTRATION AFTERMARKET SUPPLY AGREEMENT, dated as of [●], 2023 (this "<u>Agreement</u>"), is entered into by and between Cummins Inc., an Indiana corporation ("<u>Cummins</u>"), and Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Supplier</u>"). Each of Cummins and Supplier are referred to herein from time to time each as, a "<u>Party</u>" and collectively, the "<u>Parties</u>".

**RECITALS**

**WHEREAS**, Cummins, acting through its direct and indirect Subsidiaries, currently conducts the Cummins Retained Business and the Filtration Business;

**WHEREAS**, the board of directors of Cummins has determined that it is appropriate, desirable and in the best interests of Cummins and its shareholders to separate the Cummins Retained Business and the Filtration Business between Cummins and Supplier and consummate an initial public offering of certain capital stock of Supplier (the separation and offering, collectively, the "<u>Transactions</u>"), all pursuant to a Separation Agreement, dated as of [●], 2023 (the "<u>Separation Agreement</u>"), entered into by and between Cummins and Supplier, in accordance with which, among other things, (a) the Cummins Retained Business is to be owned and conducted, directly or indirectly, by Cummins and its Subsidiaries on or after the Effective Date, and (b) the Filtration Business is to be owned and conducted, directly or indirectly, by Supplier and its Subsidiaries, on or after the Effective Date;

**WHEREAS**, Supplier has been incorporated as a wholly owned Subsidiary of Cummins, has not engaged in activities except in preparation for or in connection with the Transactions and as of the consummation of the Transactions, will no longer be a wholly owned Subsidiary of Cummins; and

**WHEREAS**, in furtherance of the Transactions, pursuant to, and subject to the terms and conditions of, the Separation Agreement, (a) Cummins will, among other things, contribute certain products and programs of the Filtration Business to Supplier, and (b) each of Cummins and Supplier concurrently desires to enter into this Agreement pursuant to which Supplier will sell certain Filtration Business aftermarket products to Cummins on the terms and conditions contained herein.

**NOW THEREFORE**, in consideration of the foregoing and the mutual agreements, provisions and covenants contained herein, effective as of the Effective Date, the Parties intending to be legally bound hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. PURPOSE**

1.1 This Agreement sets forth the terms and conditions pursuant to which Cummins will purchase, and Supplier will sell to Cummins, aftermarket products set forth in the Manufacturer's Suggested Retail Price catalogue ("<u>MSRP</u>") maintained by Supplier ("<u>Products</u>"). The MSRP may be amended, at any time, by Supplier, in its sole discretion. All documents and Schedules referenced in or attached to this Agreement are hereby incorporated herein and are made a part of this Agreement. Any additional or conflicting terms or provisions provided by Supplier or Cummins relating to such purchase or sale of the Products by Cummins shall not apply and are hereby rejected by Cummins and Supplier. Cummins shall only purchase Products for aftermarket purposes, and for no other use or purpose.

1.2 This Agreement does not authorize delivery of Products or constitute an obligation or agreement to purchase a minimum or specific quantity of Products.

Page 1 of 18

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. DEFINITIONS**

Capitalized terms used in this Agreement, but which are not otherwise defined in this Agreement, shall have the meaning given to them in the Separation Agreement. The following definitions shall apply throughout this Agreement:

2.1 "<u>Affiliate</u>" shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with, such Person (and, in the case of Cummins, its joint ventures, partnerships and limited partnerships). It is expressly agreed that, from and after the Effective Date, solely for purposes of this Agreement, (i) no member of the Filtration Group shall be deemed an "Affiliate" of any member of the Cummins Group and (ii) no member of the Cummins Group shall be deemed an "Affiliate" of any member of the Filtration Group.

2.2 "<u>Agreement</u>" shall have the meaning set forth in the preamble hereto.

2.3 "<u>Anti-Corruption Laws</u>" shall mean any applicable foreign or domestic anti-bribery and anti-corruption laws and regulations, including the Bribery Act 2010, the US Foreign Corrupt Practices Act 1977 and any laws intended to implement the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

2.4 "<u>Applicable Laws</u>" shall mean all applicable provisions of any and all statutes, laws, statutory instruments, rules, regulations, administrative codes, ordinances, decrees, orders, decisions, injunctions, awards, judgments, permits and licenses of or from any federal, national, state, provincial or local governmental or non-governmental authority, agency, undertaking or body which has any jurisdiction in respect of or relevance to the applicable Party (or its Affiliates) and its business and/or the relevant provisions of this Agreement.

2.5 "<u>Associated Persons</u>" shall mean in respect of each Party, any officer, director, employee, consultant, agent, direct or indirect beneficial owner or shareholder, or any other person acting on behalf of such Party.

2.6 "<u>Conflict Minerals</u>" shall mean Cobalt, Tin, Tantalum, Tungsten and Gold and any other minerals added to the definition of Conflict Minerals under the United States Dodd-Frank Wall Street Reform and Consumer Protection Act or the EU Regulation on Conflict Minerals (2017/821) (in either case, as amended or superseded).

2.7 "<u>Cummins</u>" shall have the meaning set forth in the preamble hereto.

2.8 "<u>Cummins Location</u>" shall mean the location where the Products are to be delivered and can refer to any Cummins division, facility or warehouse or other location as specified by Cummins.

2.9 "<u>Delivery Date</u>" shall mean the delivery date for Products ordered hereunder set forth on a Purchase Order, as may be updated by Supplier pursuant to Section 3.1 herein.

2.10 <u>"Dispute Notice</u>" shall mean a notice issued by one Party to the other Party in accordance with the terms of Section 32 (Notices) of this Agreement, which affirmatively requests the beginning of a dispute subject to the terms of Article VIII (Dispute Resolution) of the Separation Agreement.

2.11 "<u>Diverse Suppliers</u>" shall mean: (i) Disabled-Owned businesses; (ii) Small businesses located in HUBZone; (iii) Lesbian, Gay, Bisexual, Transgender or Queer (LBGT)-Owned businesses; (iv) Minority-Owned businesses; (v) Small Disadvantaged businesses; (vi) Service-Disabled Veteran-Owned businesses; (vii) Veteran-Owned businesses; (viii) Women-Owned Enterprise; and (ix) Women-Owned Small Business.

Page 2 of 18

2.12 "<u>Effective Date</u>" shall mean the closing date of the IPO.

2.13 "<u>First-Fit Products</u>" shall mean serial production products that are incorporated by Cummins or any of its Affiliates into its or their respective products, which are sold by Cummins or any of its Affiliates to customer for use in new vehicles or equipment and are not sold by Cummins or its Affiliates as aftermarket parts.

2.14 "<u>Good Industry Practice</u>" shall mean all relevant practices and professional standards that would be expected of a well-managed, skilled, and experienced supplier carrying out obligations similar to the relevant obligations.

2.15 "<u>Governmental Entity</u>" shall mean any nation or government, any state, municipality or other political subdivision thereof and any entity, body, agency, commission, department, board, bureau or court, whether domestic, foreign, multinational, or supranational exercising executive, legislative, judicial, regulatory, self-regulatory or administrative functions of or pertaining to government and any executive official thereof.

2.16 "<u>Intellectual Property</u>" shall mean all United States and international: (i) trademarks, trade dress, service marks, certification marks, logos, slogans, design rights, names, corporate names, trade names, Internet domain names, social media accounts and addresses and other similar designations of source or origin, together with the goodwill symbolized by any of the foregoing (collectively, "<u>Trademarks</u>"); (ii) patents and patent applications, and any and all related national or international counterparts thereto, including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions thereof (collectively, "<u>Patents</u>"); (iii) copyrights and copyrightable subject matter, excluding Know-How; (iv) trade secrets, and all other confidential or proprietary information, know-how, inventions, processes, formulae, models, and methodologies, excluding Patents (collectively, "<u>Know-How</u>"); (v) all applications and registrations for any of the foregoing; and (vi) all rights and remedies against past, present and future infringement, misappropriation or other violation of any of the foregoing.

2.17 "<u>Lead Time</u>" shall mean the lead time required for all Product orders as set forth on Schedule A-1 (Commercial Term Sheet). Lead Times may vary for non-stock and in-stock Products, as set forth on Schedule A-1.

2.18 "<u>Modern Slavery and Human Trafficking</u>" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. holding a person in slavery or servitude;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. requiring a person to perform forced or compulsory labor (including but not limited to prison labor, child labor, or compelling labor
by taking control of a person's passport, identity card, visa, or other immigration documentation);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. subjecting a person to force, threats or deception designed to induce that person to provide services of any kind, to provide another
person with benefits of any kind, or to enable another person to acquire benefits of any kind; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. arranging or facilitating the travel of a person with a view to that person being exploited for purposes of slavery, servitude, forced
or compulsory labor, sexual exploitation, or the removal of organs.

Page 3 of 18

2.19 "<u>Modern Slavery Laws</u>" shall mean any foreign or domestic laws and regulations applicable to Modern Slavery and Human Trafficking, including but not limited to the California Transparency in Supply Chains Act the UK Modern Slavery Act 2015.

2.20 "<u>Negotiation Mechanism</u>" shall mean the Parties engaging in good faith negotiations in connection with recovery of costs, price adjustments, offsetting/netting, continuity of supply, and other disputes that may arise as a result of the Parties performance under the Agreement. If the Parties cannot agree to a resolution during such good faith negotiations, each Party has the right to provide a Dispute Notice to the other Party to initiate a formal dispute resolution process in accordance with the terms and conditions of Article VIII (Dispute Resolution) of the Separation Agreement.

2.21 "<u>Party</u>" and "<u>Parties</u>" shall have the meanings set forth in the preamble hereto.

2.22 "<u>Person</u>" shall mean any natural person, firm, individual, corporation, business trust, joint venture, association, bank, land trust, trust company, company, limited liability company, private limited company, partnership, or other organization or entity, whether incorporated or unincorporated, or any Governmental Entity.

2.23 "<u>Regions</u>" shall mean the geographic regions set forth on Schedule A-1 (Commercial Term Sheet)

2.24 "<u>Sanctions and Trade Control Laws</u>" shall mean all sanctions, export control, anti-boycott laws, regulations, orders, directives, designations, licenses, and decisions of the European Union, the United Kingdom, the United States of America, and of any other country with jurisdiction over activities undertaken in connection with this Agreement.

2.25 "<u>Separation Agreement</u>" shall have the meaning set forth in the recitals hereto.

2.26 "<u>Serial Production</u>" shall mean the production of Products which are incorporated by Cummins into its products, which are sold to Cummins' customers for use in new vehicles or equipment, and are not used or sold as aftermarket parts.

2.27 "<u>Start of Production</u>" shall mean the date of Cummins start of the Serial Production phase after the final full product PPAP of the assembly that contains a Product.

2.28 "<u>Supplier</u>" shall have the meaning set forth in the preamble hereto.

2.29 "<u>Transactions</u>" shall have the meaning set forth in the recitals hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. PRODUCTS**

3.1 All purchases under this Agreement are subject to the issuance of an applicable purchase order for a specified number of Products (a "<u>Purchase Order</u>"), by Cummins or its Affiliates. Cummins may issue periodic Cummins Purchase Orders (provided such Purchase Orders conform to this Agreement), which shall set forth the part number, quantity, Delivery Dates (which must comply with the Lead Time), the Cummins Location, and may include other terms in accordance with this Agreement and Schedule A-1 (Commercial Term Sheet). Purchase Orders do not become binding until accepted by Supplier evidenced by (i) written acknowledgment and confirmation, (ii) Supplier's initiation of performance under a Purchase Order, or (iii) Supplier ships Products under a new Purchase Order. Supplier has the right to adjust the Delivery Dates specified on Purchase Orders in accordance with the standard practices in effect immediately prior to the Effective Date, such as to conform with cycle ship times and pick up schedules. Lead Time will be measured from the date of acceptance of a Purchase Order. The terms of this Agreement shall take precedence over any conflicting terms in any Cummins Purchase Order. Any term or statement in a Cummins Purchase Order, or an acknowledgment or acceptance thereof by Supplier, which conflicts with the terms of this Agreement, is hereby expressly rejected and shall be deemed amended or deleted to the extent of any such conflict. Except as provided by Section 9.4 herein, after acceptance by Supplier, Purchase Orders are binding, and cannot be changed or cancelled by Cummins for the Lead Time.

Page 4 of 18

3.2 Subject to the Delivery Performance Requirements set forth in Schedule B-1, Supplier shall ensure that all Products supplied by Supplier are usable, and shipped to the proper Cummins Location with the required documentation and in the scheduled quantities.

3.3 Supplier shall comply with the following policies in place as of the Effective Date, which are incorporated by reference to this Agreement and can be accessed at: http://supplier.cummins.com (i) Cummins Corporate Environmental Policy and Environmental Standard; (ii) Cummins Green Supply Chain Principles; (iii) Restriction of Prohibited Materials; (iv) Government Requirements, and (v) Human Rights Policy.

3.4 Only the Cummins and Supplier entity named on an applicable Purchase Order shall be responsible for their respective obligations under such Purchase Order. Neither Cummins Inc. nor any other Cummins entity shall be liable for another named Cummins Affiliate's obligations under such named Affiliate's Purchase Order or supplemental agreement. Further, a breach or termination by a named Cummins entity of its obligations under any particular Purchase Order shall not constitute a breach or termination under another Purchase Order or of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. TERM**

This Agreement shall have an initial term of 5 years, effective from and after the Effective Date (the "<u>Initial Term</u>") unless terminated or cancelled sooner pursuant to the terms of this Agreement. The Initial Term shall be automatically extended for one 2-year period, unless either Party provides a written notice of non-renewal to the other Party at least 365 days prior to the end of the applicable Initial Term, or the Parties mutually agree otherwise in writing. The Initial Term and such automatic extensions thereof are referred to in this Agreement collectively as the "<u>Term</u>".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. PRICING**

5.1 The initial prices for the Products shall be the prices set forth in the MSRP for the region where the order is placed on the date a Cummins Purchase Order is accepted by Supplier. The delivery term applicable to each Region shall be the specific Incoterm® 2020 set forth on Schedule A-1 (Commercial Term Sheet). The delivery location shall be the Cummins Location set forth on the Purchase Order. All MSRP prices are exclusive of sales, use, excise, customs, export, import, commodity and/or any other taxes, provided that all such taxes shall be borne by the applicable Party consistent with the Parties' past practice.

5.2 Supplier shall provide notice to Cummins prior to implementing adjustments to the MSRP in accordance with the notice period set forth in Schedule A-1 (Commercial Term Sheet) and the terms set forth in Schedule A-2 (Pricing Adjustments).

5.3 Subject to the terms and conditions of Schedule B-2 (Relationship; Most Favored Nation; Limitation of Liability), any discounts offered by Supplier to Cummins from the MSRP price are set forth in the discount models attached Schedule A-1 (Commercial Term Sheet).

Page 5 of 18

5.4 If applicable, Supplier shall fund, inspect, maintain, and repair all patterns, dies and gauging associated with the manufacturing of the Products in accordance with industry standards. Supplier's cost methodology shall include such pattern and die expenses as overhead costs and shall not amortize such costs separately in the Product pricing.

5.5 Supplier agrees to proactively determine any Free Trade Agreement ("<u>FTA</u>") eligibility for the Products it supplies and to provide all supporting documentation required in order to apply for qualification to do business under the FTA. This includes FTA certificates and supplier affidavits as applicable and necessary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. PAYMENT AND TITLE TRANSFER**

6.1 Payment terms are set forth in Schedule A-2 (Pricing Adjustments and Payment Terms).

6.2 Supplier shall promptly invoice Cummins in accordance with the terms set forth in the Schedule A-2 (Pricing Adjustments and Payment Terms). Payment for all Products shall be made in the currency set forth in the Schedule A-1 (Commercial Term Sheet).

6.3 Cummins reserves the right to offset amounts that are (i) *de minimis*, (ii) caused by clerical or administrative errors, or (iii) routine or reoccurring costs caused by Supplier's alleged non-performance under this Agreement, *provided however* for this subsection (iii), Cummins shall not have the right to offset (a) for any individual cost which exceeds $5,000 per occurrence, or (b) for any amounts whatsoever once offsets exceed $50,000 collectively during any calendar year. Supplier has the right to seek to recover any offset amounts. The Parties may initiate the Negotiation Mechanism to offset additional amounts.

6.4 If applicable, the inventory management arrangement established between the Parties shall be denoted in the Commercial Term Sheet (Schedule A-1).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. TOOLING AND EQUIPMENT**

Upon the termination or expiration of this Agreement, if the Parties mutually agree in writing, Cummins may purchase, and Supplier may agree to sell, tooling owned by Supplier and used in the manufacture of the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. BRANDING, PACKAGING AND INVOICE DOCUMENTATION**

8.1 All Products sold to Cummins shall have the "Fleetguard" branding and packaging in effect immediately prior to the Effective Date, except where branded or packaged otherwise as of the Effective Date.

8.2 Products delivered by Supplier shall be properly packaged and labeled as per the version of the Cummins Global Packaging Standard for Production Parts and Global Packaging Standards for New & ReCon Parts which exists as of the Effective Date. The Global Packaging Standard for Production Parts and Global Packaging Standards for New & ReCon Parts are published with links at https://public.cummins.com/sites/CSP/en-us/Pages/StandardsProcesses.aspx<u>.</u>

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8.3 Supplier shall label and mark the Products and the respective packaging with the Country of Origin ("<u>COO</u>") and shall package, label, and mark the Products to comply with the Applicable Laws of the country of ultimate destination of the Products. The COO on the packaging must match what is marked on Products. Supplier shall provide valid and correct Certificates of Origin for all of the Products and Free or Preferential Trade Agreement Certificates (*e.g.,* United States-Mexico-Canada Agreement (USMCA), Generalized Systems of Preferences (GSP), and FTA) for all eligible Products and shall take reasonable and prudent steps (including complying with all legal requirements) to ensure such certificates are correct and accurate. Such certificates shall be provided to Cummins seven (7) calendar days in advance of the physical arrival of the shipment at the port of entry or within fourteen (14) calendar days of request in the case of periodic certificates or declarations. Failure to provide the required documentation within the requested time frame can result in extra costs to Cummins which Supplier will be required to reimburse in total.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.1 Cummins may request that the COO is denoted on the commercial invoice and packing list. When required, Supplier shall ensure the COO on the Product packaging and shipping documentation consistently match.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.2 Supplier shall participate in any COO data solicitation processes that Cummins may in future implement at the sole discretion of Cummins and comply with any and all requests for information made under those processes.

8.4 Supplier shall allow Cummins, Cummins employees, agents or representatives (including an auditor, legal service firm or professional services firm) (the "<u>Appointed Adviser</u>") to access and audit any of the Supplier's documents, records, data, systems or processes as may be reasonably required in order to (i) confirm the validity of the preferential origin claim underlying any COO (or equivalent statement of origin) provided by Supplier pursuant to Section 8.3, and (ii) verify that Supplier maintains a robust origin management system which allows Supplier to fulfil its obligations under this Agreement in respect of any COO (or equivalent statement of origin) issued to Cummins.

8.5 Cummins shall use reasonable endeavors to ensure that the conduct of any verification visit pursuant to Section 8.4 does not unreasonably disrupt Supplier.

8.6 Cummins shall ensure that the Appointed Adviser enters into an appropriate confidentially arrangement confirming the Appointed Adviser will not disclose commercially sensitive data, pricing, or similar information to Cummins.

8.7 If Cummins identifies a material risk that a COO (or equivalent statement of origin) provided by Supplier may be invalid and considers that the Certificate of Origin (or equivalent statement of origin) may be found invalid by any customs authority, then Cummins (without prejudice to its other remedies) shall notify Supplier in writing of its concerns. Supplier shall, within five (5) business days of such notice, respond in writing confirming whether it agrees with Cummins (and if not the basis for the disagreement) and its proposed rectification plan. Supplier shall ensure such rectification plan is agreed in writing with Cummins (Supplier and Cummins each acting reasonably) and Supplier shall implement such rectification plan.

8.8 The Parties shall bear their own costs and expenses incurred in respect of compliance with their obligations under Section 8.4 unless the audit identifies a material default by Supplier, in which case Supplier shall reimburse Cummins for all its reasonable costs incurred in the course of the audit; provided, however that Supplier and Cummins may engage in the Negotiation Mechanism if Supplier challenges such costs incurred pursuant to this Section 8.8, and Supplier has the right to seek recovery of such costs.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. SHIPPING AND DELIVERY, DELIVERY PERFORMANCE**

9.1 Supplier shall manage and supply the Products consistent with the terms set forth in the Schedule A-1 (Commercial Term Sheet), and Schedule B-1 (Delivery Performance Requirements; Non-Conforming Deliveries; and Shortages) attached hereto in order to timely and effectively meet the Delivery Dates.

9.2 If at any time it appears to Supplier that any Cummins Delivery Date cannot be met, Supplier must notify Cummins, as soon as possible, as to the causes thereof; the actions being taken to mitigate such causes of non-delivery, when on-schedule status will be regained, and Supplier and Cummins shall comply with Schedule B-1 (Delivery Performance Requirements; Non-Conformance Deliveries; and Shortages).

9.3 Cummins reserves the right to cancel or reschedule any Purchase Order or release for which a shipment has been delayed without penalty or charge if Cummins' customers cancel or reject the underlying Products due to such delay.

9.4 Cummins reserves the right to make additional and commercially-reasonable changes to the shipping and invoice documentation requirements for this Agreement upon reasonable notice to Supplier, provided that any costs associated with such changes shall be paid by Cummins to Supplier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. QUALITY**

Supplier agrees to comply with any quality procedures that may be agreed between the Parties in writing from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11. RELATIONSHIP, MOST FAVORED NATION, LIMITATION OF LIABILITY**

Cummins and Supplier agree to the additional terms governing their relationship under this Agreement set forth in Schedule B-2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12. NON-CONFORMING PRODUCTS**

12.1 The return policy for Products shall be Supplier's policy that was in effect immediately prior to the Effective Date. For clarity, any returns for non-conforming projects shall be detailed in Schedule A-1 (Commercial Term Sheet).

12.2 The Parties may initiate good faith negotiations to review any and all reasonable additional costs incurred as a result of Rejections/Returns from Cummins Location(s) or its Customer Site due to Supplier non-conformance. The Parties shall engage in the Negotiation Mechanism in the event the Parties cannot agree on cost recovery.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.** **AFTERMARKET SUPPORT**

Supplier agrees to provide Cummins with aftermarket support. Supplier shall, at Cummins' sole election and request, provide technical and marketing-related information associated with the Products at least six (6) months prior to the Start of Production shipment to Cummins. Supplier grants Cummins a perpetual license to use such information and will ensure that all such information is clear of any third-party copyright restrictions. Cummins will use this information to develop service and maintenance manuals for the purpose of aftermarket support. Required information shall include, without limitation: technical specifications, installation guidelines, service recommendations, prints, graphics, parts lists, assembly drawings, warranty data and service manuals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14. WARRANTY**

The Parties shall comply with the terms of the Warranty Agreement attached hereto as Schedule C.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15. PERFORMANCE MANAGEMENT AND CONTINUOUS IMPROVEMENT**

15.1 A performance review of Supplier will be held by Cummins at least annually.

15.2 Cummins will conduct an appropriate level of in-plant or virtual visits including representatives from Sales, Quality, Production Control and Engineering. The frequency and types of visits will be agreed upon by the Parties.

15.3 The Parties will proactively participate in joint improvement projects related to performance, including, but not limited to lead time reduction, inventory reduction, delivery performance improvement, response improvement, premium freight reduction, packaging cost reduction, and transportation cost reduction. If requested by Cummins, and if Supplier agrees to in writing, Supplier may participate in Six Sigma training and support Cummins Six Sigma improvement projects. Supplier shall ensure that all of its employees and agents who are engaged in the activities under this Agreement are adequately trained with respect to its obligations under this Agreement and the additional guidelines communicated by Cummins to Supplier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16. CONFIDENTIALITY AND NON-DISCLOSURE**

Both Parties shall abide by the confidentiality and other related obligations set forth in Section 6.5 of the Separation Agreement. The Parties shall implement safeguards to prevent the destruction, loss, or alteration of such Confidential Information (as defined in the Separation Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17. INTELLECTUAL PROPERTY OWNERSHIP**

17.1 <u>Background Intellectual Property</u>. Each Party shall retain all right, title, and interest in and to its Background Intellectual Property. The term "<u>Background Intellectual Property</u>" or "<u>Background IP</u>" means the Intellectual Property of either Cummins or Supplier relating to the Products that either: (i) constitutes a Cummins Retained Asset (in case of Cummins) or a Filtration Asset (in case of Supplier), as applicable, or (ii) that each Party acquires or develops after the Effective Date.

17.2 <u>Assignment of Interest in Background IP</u>. Each Party (the "<u>Assigning Party</u>") hereby irrevocably assigns, and shall cause the assignment of, any and all rights, title, and interest in and to the other Party's Background IP, including any moral rights therein, to the other Party (the "<u>Owning Party</u>") and further acknowledges that any such Background IP rights shall inure to the benefit of and be immediately and solely vested in the Owning Party. The Assigning Party shall in good faith aid the Owning Party and perform all actions reasonably requested by the Owning Party at the Owning Party's expense, including executing any instruments to effectuate the assignment of and ownership in such Background IP hereunder and the prosecution, exercising and enforcement of any and all such Background IP.

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17.3 <u>IP Registration</u>. Each Party shall have the exclusive right to apply for or register any patents, mask work rights, copyrights, and such other proprietary protections, formal or informal, with respect its Intellectual Property, on a world-wide basis, and to incorporate it into any Products at no additional charge in any manner. Each Party shall cooperate, as reasonably requested by the other Party, in order effectuate their respective ownership in and to obtain all available protection for their respective Background IP and each Party shall execute such documents, including assignment of rights, patent assignments, render such assistance, including reasonable efforts to obtain the execution of patent applications by the individual inventors of such inventions, and take such other actions as may reasonably be request, at such requesting Party's expense, to apply for, register, perfect, confirm, and protect such Party's rights in its respective Background IP or any embodiment of such Background IP in any Product. Each Party shall be solely responsible for compensation payable to its individual inventors by law, if any, or by contract, if any.

17.4 <u>Trademark Rights</u>. Unless otherwise agreed to in writing by the Parties, Supplier acknowledges and agrees that Cummins owns all rights in and to its Trademarks, and Cummins does not, under this Agreement, grant Supplier any licenses to such Trademarks. Supplier shall not register or create, use, register or market any similar name, tradename, trademark, service mark, graphic, logo, brand, uniform resource locator, trade dress or other designation containing, being a derivative of or otherwise similar to the Cummins' Trademarks.

17.5 <u>Infringement</u>. Supplier represents and warrants to the best of its knowledge and understanding as of the Effective Date of this Agreement that (except to the extent the Products are manufactured in accordance with specifications provided by Cummins), the manufacture, assembly, use, sale, and/or distribution of the Products do not and will not infringe the Intellectual Property rights of any third party, worldwide.

17.6 <u>Infringement Notification and Response</u>. During the Term and with regard to the Products, each Party shall immediately notify the other Party of any alleged, actual, or apparent infringement of the other Party's Intellectual Property, including, without limitation, any Trademark, Product, Patent, or trade dress, of which it becomes aware. The Party owning the Intellectual Property shall have the right, but not the obligation, to take legal action to restrain such infringement and to settle any litigation or threat of litigation relating to such infringement on terms satisfactory to it. If requested, a Party shall aid the other Party at the other Party's expense in the prosecution or settlement of such litigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18. INDEMNIFICATION**

18.1 Supplier agrees to indemnify and hold harmless Cummins, its customers, Affiliates, Subsidiaries, and its, its Affiliates' and its Subsidiaries' respective officers, directors, agents and employees (collectively, "<u>Cummins Indemnified Parties</u>") from and against all losses, liabilities, costs, damages or expenses including reasonable attorney's fees ("<u>Losses</u>"), arising out of, connected with, or resulting from any of the following in Sections 18.1(i) through 18.1(iv), but in each case Supplier's responsibility for the Losses shall be limited only to the degree that Supplier or any of its Affiliates caused such Losses: (i) any actual or alleged breach by Supplier of this Agreement; (ii) any claim alleging the infringement of any third party's patent, trademark, copyright or other rights due to its sale or use, alone or in combination, of the Products, including the Products and designs developed by Supplier, except to the extent the alleged infringement is directly attributable to the Products being manufactured solely in accordance with the Specifications; (iii) any Product recalls, except to the extent such recall is caused by changes, additions or modifications to the Products by Cummins, Cummins' customers, or made at Cummins' request, and which changes, additions or modifications were not approved by Supplier; or (iv) any death or injury to any person, damage to any property, or any other damage or loss which is claimed to have resulted in whole or in part from the purchase, sale, use or operation of any Product or any alleged defect in such Product whether latent or patent, including any failure to manufacture the Products according to the specifications, or to provide adequate warnings, labeling or instructions specified by Cummins, except to the extent such death, injury, damage, or loss arises from the specifications or any material alteration, modification or improper or unauthorized service and repair of the Product performed by Cummins or its customers. Notwithstanding anything to the contrary above, Supplier will not be liable for or obligated to indemnify and hold harmless the Cummins Indemnified Parties from and against Losses for any claim to the extent arising out of, connected with or resulting from Supplier's or its subcontractor's compliance with Cummins' designs, Specifications and/or instructions, as they relate to infringement of intellectual property, and Cummins will defend, indemnify and hold Supplier harmless for any such Losses. Cummins shall also defend, indemnify and hold Supplier harmless for Losses directly resulting from (a) Cummins' product claims (including without representation any marketing and product use claims), whether written or oral, made by Cummins publicly where such product claims were not provided by or approved, in writing, by Supplier; (b) grossly negligent handling by Cummins of the Products; (c) changes, additions or modifications to the Products by Cummins or made at Cummins' request; (d) any Product recall resulting from Cummins' installation of, or changes to, the Product, or resulting from other Cummins' products or components; or (e) the unauthorized commercialization of a prototype Product.

18.2 Other than with respect to Third Party Claims, which shall be governed by Section 18.3, each indemnified Party, on behalf of itself and in case of Cummins, the other Cummins Indemnified Parties (each, an "<u>Indemnitee</u>"), shall notify in writing, with respect to any matter that such Indemnitee has determined has given or could give rise to a right of indemnification under this Agreement, the Party which is or may be required pursuant to this Section 18 to provide such indemnification (the "<u>Indemnifying Party</u>"), within forty-five (45) days of such determination, stating in such written notice the applicable indemnification claim in reasonable detail; provided, however, that the failure to provide such written notice shall not release the Indemnifying Party from any of its obligations except and solely to the extent the Indemnifying Party shall have been actually materially prejudiced as a result of such failure. If such Indemnifying Party rejects such claim in whole or in part, the disputed matter shall be resolved in accordance with Section 33.

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18.3 If a claim or demand is made against an Indemnitee by any Person who is not a Party or a member of a Party's Group (a "<u>Third Party Claim</u>") as to which such Indemnitee is or may be entitled to indemnification pursuant to this Agreement, such Indemnitee shall notify the Indemnifying Party in writing (which notice obligation may be satisfied by providing copies of all notices and documents received by the Indemnitee relating to the Third Party Claim), and in reasonable detail, of the Third Party Claim promptly (and in any event within the earlier of (x) forty-five (45) days or (y) two (2) Business Days prior to the final date of the applicable response period under such Third Party Claim) after receipt by such Indemnitee of written notice of the Third Party Claim; provided, however, that the failure to provide notice of any such Third Party Claim pursuant to this or the preceding sentence shall not release the Indemnifying Party from any of its obligations except and solely to the extent the Indemnifying Party shall have been actually materially prejudiced as a result of such failure.

18.4 An Indemnifying Party under this Agreement shall be entitled, if it so chooses, to assume the defense of a Third Party Claim, and if it does not assume the defense of such Third Party Claim, to participate in the defense of any Third Party Claim in accordance with the terms of this Section 18.4 at such Indemnifying Party's own cost and expense and by such Indemnifying Party's own counsel, that is reasonably acceptable to the Indemnitee, within thirty (30) days of the receipt of an indemnification notice from such Indemnitee; provided, however, that the Indemnifying Party shall not be entitled to assume control of the defense against a Third Party Claim to the extent such Third Party Claim (i) is an Action by a Governmental Entity, (ii) involves an allegation of a criminal violation or quasi criminal proceeding, action, indictment, allegation or investigation, (iii) seeks injunctive relief, specific performance or any other equitable or non-monetary relief against Indemnitee, or (iv) the Indemnitee reasonably believes an adverse determination with respect to the Third Party Claim would be materially detrimental to or materially injure the Indemnitee's reputation or future business prospects. Notwithstanding the foregoing, the Parties acknowledge and agree that Cummins shall have the sole and exclusive right to defend or assume any Third Party Claim involving Cummins' customers.

18.5 In connection with the Indemnifying Party's assumed defense of a Third Party Claim, such Indemnitee shall have the right to employ separate counsel and to participate in (but not control) the defense, compromise, or settlement thereof, at its own expense and, in any event, shall cooperate with the Indemnifying Party in such defense and make available to the Indemnifying Party, at the Indemnifying Party's expense, all witnesses, pertinent Information, materials and information in such Indemnitee's possession or under such Indemnitee's control relating thereto as are reasonably required by the Indemnifying Party; provided, however, that in the event of a conflict of interest between the Indemnifying Party and the applicable Indemnitee(s), or in the event that any Third Party Claim seeks equitable relief which would restrict or limit the future conduct of the Indemnitee's business or operations, such Indemnitee(s) shall be entitled to retain, at the Indemnifying Party's expense, separate counsel as required by the applicable rules of professional conduct with respect to such matter; provided, further, that, if the Indemnifying Party has assumed the defense of the Third Party Claim but has specified, and continues to assert, any reservations or exceptions to such defense or to its liability therefor, then, in any such case, the reasonable fees and expenses of one separate counsel for all Indemnitees shall be borne by the Indemnifying Party.

18.6 The Indemnifying Party shall have the right to compromise or settle a Third Party Claim the defense of which it shall have assumed pursuant to this Section 18 and any such settlement or compromise made or caused to be made of a Third Party Claim shall be binding on the Indemnitee, in the same manner as if a final judgment or decree had been entered by a court of competent jurisdiction in the amount of such settlement or compromise. Notwithstanding the foregoing sentence, the Indemnifying Party shall not settle any such Third Party Claim without the written consent of the Indemnitee unless such settlement (i) completely and unconditionally releases the Indemnitee in connection with such matter, (ii) provides relief consisting solely of money damages borne by the Indemnifying Party, and (iii) does not involve any admission by the Indemnitee of any wrongdoing or violation of Law.

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18.7 If an Indemnifying Party fails for any reason to assume responsibility for defending a Third Party Claim within thirty (30) days after receipt of the written notice in accordance with Section 18.4, such Indemnitee may defend such Third Party Claim at the cost and expense of the Indemnifying Party. If an Indemnifying Party has failed to assume the defense of the Third Party Claim within the time period specified in Section 18.4, it shall not be a defense to any obligation to pay any amount in respect of such Third Party Claim that the Indemnifying Party was not consulted in the defense thereof, that such Indemnifying Party's views or opinions as to the conduct of such defense were not accepted or adopted, that such Indemnifying Party does not approve of the quality or manner of the defense thereof or that such Third Party Claim was incurred by reason of a settlement rather than by a judgment or other determination of liability. In any event, the Indemnifying Party and the Indemnitee shall reasonably cooperate in the defense of any Third Party Claim and the records of each shall be reasonably available to the other with respect to such defense to the extent permitted by Applicable Law.

18.8 Supplier shall be solely responsible for, and its indemnification obligation under this Section 18 shall extend to, all acts and omissions of any of its Affiliates, successors, and permitted assigns, and its, or their, respective officers, directors, employees, agents, or contractors in the performance of its obligations under this Agreement. This Section 18 shall survive the expiration or termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19. LIMITATION OF LIABILITY**

The Parties agree to the limitation of liability terms set forth in Schedule B-2 (Relationship; Most Favored Nation; Limitation of Liability).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20. TERMINATION**

20.1 The Parties may terminate this Agreement, in whole or in part, by mutual written consent.

20.2 Each Party may terminate this Agreement, in whole or in part, by providing written notice to the other Party: (i) if the other Party commits fraud or gross negligence in connection with this Agreement, including, without limitation, performance of its obligations hereunder; or (ii) if the other Party becomes insolvent, goes into liquidation, files a petition for bankruptcy or commences or has proceedings commenced against it relating to bankruptcy or receivership, in any case whether voluntary or involuntary.

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20.3 Cummins may terminate this Agreement, in whole or in part, for Supplier's breach of the version of the Cummins Supplier Code of Business Conduct as published at https://public.cummins.com/sites/CSP/SitePages/Supplier%20Code%20of%20Conduct.aspx as of the Effective Date ("<u>SCoC</u>") by providing written notice to Supplier.

20.4 Cummins may terminate exclusivity with respect to a specific Product if a claim arising from such Product's quality or performance (the "<u>Product Claim</u>") directly or indirectly results in Cummins and the Cummins Indemnified Parties suffering indemnifiable Losses pursuant to Section 18.1 in excess of the Liability Limit set forth in Schedule B-2 (Relationship; Most Favored Nation; Limitation of Liability) as calculated for each Product Claim. For purposes of calculating whether an applicable Liability Limit has been reached to trigger Cummins termination right pursuant to this Section 20.4, Losses shall consist of cumulative and aggregate Losses incurred on a rolling basis during the immediate twenty-four (24) months preceding the date a Product Claim arises, including any portion of such period occurring prior to the Effective Date, and shall include Losses arising from all of the following: (i) the Product Claim; (ii) all claims under this Agreement; (iii) all claims related to all Product sales; and (iv) all claims related to any activity, conduct, or omission related to all such Product sales (the "<u>Exclusivity Liability Limit</u>"). Notwithstanding anything herein to the contrary, nothing in this Section 20.4 shall in any way impact or modify the indemnification provisions under the Separation Agreement or limit the rights and remedies of Cummins and the Cummins Indemnified Parties under the Separation Agreement

20.5 Supplier may terminate this Agreement or suspend performance if Cummins fails to pay undisputed amounts when due, and fails to cure the non-payment within ninety (90) days after receipt of written notice from Supplier.

20.6 Cummins may terminate this Agreement, in whole or in part, if there is a Filtration Change of Control by providing written notice to Supplier.

20.7 The Parties agree that any termination, cancellation, or expiration of this Agreement (collectively, the "<u>Conclusion</u>" of the Agreement) shall not relieve either Party of any obligations and liabilities accrued prior to such Conclusion.

20.8 No termination of this Agreement, shall relieve either Party of any obligations and liabilities accrued prior to the termination. Notwithstanding any termination of the Agreement, the Parties agree that after termination:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.8.1 Supplier shall honor the warranties of all Products sold and supplied to Cummins prior to termination in accordance with this Agreement and as specifically detailed in Schedule C (Warranty Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.8.2 Supplier shall return to Cummins all Confidential Information, and if applicable, any prints or other materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21. FORCE MAJEURE**

21.1 Neither Party shall be liable to the other for failure to perform its obligation under this Agreement when performance is prevented by an occurrence beyond its reasonable control (including, without limitation, flood, drought, fire, war, riot, acts of God, changes in Applicable Law or epidemics, pandemics and quarantines, natural catastrophes, strikes, lockouts, and embargoes (each, a "<u>Force Majeure Event</u>"). The impacted Party shall notify the other Party within a commercially prompt time of the Force Majeure Event, stating the period of time the occurrence is expected to continue. The impacted Party shall use diligent efforts to minimize the effects of such Force Majeure Event. The impacted Party shall resume the performance of its obligations as soon as reasonably practicable after the conclusion of the Force Majeure Event. If the Force Majeure Event impacts Suppliers obligations under this Agreement, Supplier shall submit to Cummins a recovery plan or steps it shall take to ensure it can continue to perform under the Agreement within ten (10) days if it has knowledge or reasonably expects such Force Majeure Event will last longer than thirty (30) days. If such recovery plan is not acceptable to Cummins, the Parties shall engage in the Negotiation Mechanism to determine cost recovery or other mitigating strategies.

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21.2 A Force Majeure Event shall not excuse a Party from delay or failure to perform its obligations under this Agreement: (i) simply because performance has become more expensive or difficult; (ii) where the failure to perform is due to the non-performing Party's fault, negligence, or lack of diligence; or (iii) where the Party asserting Force Majeure fails to provide notice as required herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22. INSURANCE AND DIVERSE SOURCING**

22.1 Supplier shall comply with the Cummins' Minimum Insurance Requirements ("MIR") coverage and notification requirements, attached and incorporated herein as Schedule D.

22.2 Supplier shall comply with Schedule E (Cummins Diverse Spend Requirement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2.1 Supplier agrees to maintain a plan for Diverse Supplier sourcing that complies with Cummins Global Diversity Procurement ("GDP") initiative and submit such plan upon reasonable advance notice. Supplier's plan shall detail how Supplier will meet the Diverse Supplier sourcing requirements. (Details regarding the Cummins Global Diversity Procurement objectives are available on the GDP website: http://diversityprocurement.cummins.com<u>)</u>. Moreover, Supplier acknowledges that meeting the diverse supplier objectives will be a consideration for award of new goods and services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2.2 In support of this requirement, Supplier agrees to track and report such purchases monthly in Cummins reporting system, including the reporting of certification in good standing of Diverse Suppliers. In the event that Supplier fails to meet the diverse sourcing objectives, Supplier agrees to take such actions necessary including participation in development plans, as deemed appropriate by the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2.3 Supplier shall comply with the regional requirements for diverse sourcing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2.4 Supplier acknowledges that Cummins expects all of its suppliers to actively pursue sourcing of materials and services from Diverse Suppliers.

22.3 Supplier shall comply with the then-current SCoC.

22.4 Supplier will ensure that it meets Customs Trade Partnership against Terrorism ("<u>C-TPAT</u>") standards in terms of the goods it supplies to Cummins and comply with any and all requests for information to support Cummins' continued participation in the C-TPAT program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23. COMPLIANCE WITH APPLICABLE LAWS**

23.1 Supplier covenants and agrees that the Products shall be designed, manufactured, packaged, and delivered in accordance with, and otherwise comply with, Good Industry Practice and Applicable Laws (including Applicable Laws in the country of origin and the country of ultimate destination of the Products and any other Applicable Laws to which Supplier or the Product are subject).

23.2 Supplier covenants and agrees that all activities performed, directly or indirectly, by or on behalf of Supplier pursuant to this Agreement, or in furtherance of its objectives, shall be carried out in form and substance in accordance with all Applicable Laws (including environmental and health and safety laws) and Good Industry Practice.

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23.3 Supplier covenants and agrees that it will maintain all premises, plant, machinery, and equipment, and procure all materials, used for or in connection with the performance of its obligations under this Agreement in accordance with Good Industry Practice and Applicable Laws.

23.4 Supplier covenants and agrees that it shall not do, or permit to be done, anything in connection with this Agreement or the Products, that may result in a breach of Applicable Laws by Cummins or its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24. INTEGRITY OF SUPPLY CHAIN**

24.1 Supplier shall comply with its obligations set out in Schedule F (Integrity of Supply Chain).

24.2 Supplier covenants and agrees to comply with all Applicable Laws relating to sanctions and exports, including all administrative acts and executive orders of the U.S. government pursuant to such laws and regulations, including, but not limited to, the U.S. Export Administration Regulations and sanctions administered by the US. Department of the Treasury. Supplier will not resell, transfer, or sell the Products in violation of Sanctions and Trade Control Laws. Supplier represents and warrants that at all times in the performance of its obligations under this Agreement, it will not take any action that causes Cummins or any of its Affiliates to violate or otherwise become exposed to penalties under any Sanctions and Trade Control Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25. RECORDS AND AUDITS**

25.1 Supplier agrees and undertakes that, in connection with this Agreement and in connection with any other business transactions involving Cummins, Supplier shall: (i) maintain books and records that accurately and in reasonable detail demonstrate its compliance with this Agreement; (ii) upon Cummins provision of reasonable notice, allow Cummins the right during the Term of this Agreement and for a period of six (6) years following the expiration or termination of this Agreement or as required under Applicable Laws to audit Supplier to monitor Supplier's compliance with this Agreement, including by reviewing books and records, conducting site visits, or interviewing personnel during Supplier's normal business hours; and (iii) take commercially reasonable steps may be needed to ensure that any Person providing Products (or part thereof) on behalf of Cummins under this Agreement cooperate fully in the event that Cummins decides to audit Supplier's compliance with this Agreement including by agreeing to be interviewed by Cummins or its designated legal or other professional advisors, except to the extent such person(s) have a right to decline such interview(s) under Applicable Laws. All costs and expenses incurred by Cummins in connection with its exercise of audit rights shall be the sole responsibility of Cummins. For certainty, (a) Cummins acknowledges and agrees that any right to review and audit Supplier under this Agreement is limited by and subject to Applicable Laws; and (b) Cummins acknowledges and agrees that Supplier shall have no obligation to disclose any confidential or commercially sensitive data, pricing, costing, proprietary, or other similar information or data to Cummins unless required by Applicable Laws to disclose such information to Cummins.

25.2 In the event that Cummins has a good faith belief that Supplier may not be in compliance with the requirements set out in this Agreement, Cummins shall advise Supplier in writing of its good faith belief, and Supplier shall cooperate in good faith with any and all inquiries undertaken by Cummins, including by making available Supplier personnel and supporting documents.

Page 15 of 18

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26. TENDER INFORMATION**

If requested by Cummins at any time during the Term, Supplier shall provide commercially reasonable assistance to Cummins to enable Cummins (and/or its Affiliate) to bid for a customer contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27. ASSIGNMENT**

This Agreement shall inure to the benefit of and be binding upon each of the Parties and its successors. The Parties shall not assign this Agreement without the written consent of the non-assigning Party; provided that (i) Supplier may not unreasonably withhold consent for Cummins to assign the Agreement to any other Cummins Group member, and (ii) Cummins may assign or otherwise transfer, in whole or part, its rights and/or obligations under this Agreement without Supplier's prior written consent in the event of a merger, acquisition, divestiture or other change of control of Cummins. In the event Cummins authorizes the assignment of this Agreement by Supplier to a third party, the third party must agree to accept the terms of this Agreement without exception or alternation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28. REMEDIES AND NON-WAIVER**

28.1 The remedies of the Parties are cumulative and in addition to all remedies set forth herein or available at law or in equity.

28.2 The delay or forbearance in exercising any remedy available to it by either Party shall not constitute an election or waiver of any remedy. Any failure by any Party to enforce at any time any term or condition under this Agreement shall not be construed as a waiver of the Parties right thereafter to enforce each and every term of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29. SURVIVAL**

All provisions of this Agreement which by their nature should apply beyond their terms will remain in force after any termination, cancellation or expiration of this Agreement, including without limitation, Sections 16 (Confidentiality and Non-Disclosure), 18 (Indemnification), 33 (Governing Law, Dispute Resolution), or effect of termination under Section 20 (Termination).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30. ENTIRE AGREEMENT**

30.1 This Agreement and all Schedules specifically referenced herein, constitute the entire agreement between the Parties with respect to the matters contain herein and supersedes all prior oral or written representations or agreements.

30.2 If any provision of this Agreement becomes or is deemed invalid or unenforceable under any statute, regulation, ordinance, executive order, or other rule of law, such article, provision, or term shall be deemed reformed or deleted, but only to the extent necessary to comply with any statute, regulation, ordinance, executive order, or other rule of law, and all other articles, provisions, and terms of this Agreement shall remain in full force and effect.

30.3 Any and all changes to this Agreement shall be void and unenforceable unless and until such changes are reduced to written agreement signed by both Parties. Supplier acknowledges and agrees that Cummins Locations do not have authority to alter the terms of this Agreement.

Page 16 of 18

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**31.** **INTERPRETATION**

31.1 If there is a conflict between or among the terms of this Agreement, the Schedules specifically referenced herein, and Cummins Purchase Orders, the following order of precedence shall apply: this Agreement, the Schedules specifically referenced in this Agreement, and then the Purchase Orders.

31.2 For purposes of this Agreement: (i) the words "include," "includes" and "including" shall be deemed to be followed by the words "without limitation"; (ii) the word "or" is not exclusive; and (iii) the words "herein," "hereof," "hereby," "hereto" and "hereunder" refer to the compete Agreement as a whole. Unless the context otherwise requires, references herein to Sections mean the Sections of this Agreement. Headings of Sections are inserted for convenience of reference only and shall not be deemed a part of or to affect the meaning or interpretation of this Agreement.

31.3 This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting an instrument or causing any instrument to be drafted. Any references in this Agreement to any published Cummins documents, directives or processes, shall be construed as a reference to the editions or versions which exist as of the Effective Date, and not any future editions or versions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32. NOTICES**

32.1 All notices related to this Agreement which are permitted hereunder shall be in writing and deemed to have been duly given if delivered personally or sent by facsimile transmission (with confirmation received) or overnight express mail or by registered mail or certified mail, postage prepaid.

32.2 All notices shall be sent to the following addresses (or to such other address as the Parties may designate from time to time in writing).

If to Cummins: Cummins Inc. 500 Jackson Street Columbus, Indiana (USA) 47202-3005 Attention: General Counsel Facsimile: ________________ If to Supplier: Atmus Filtration Technologies Inc. 26 Century Boulevard Nashville, Tennessee 37214 Attention General Counsel Facsimile: ________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33. GOVERNING LAW, DISPUTE RESOLUTION, SEPARATION AGREEMENT**

This Agreement shall be construed and governed in accordance with the laws of the State of Delaware, excluding its choice of law statutes. Jurisdiction and venue for any suit between the Parties hereto arising out of or connected with this Agreement, or the Products or services furnished hereunder, shall be in the State of Delaware. The United Nations Convention on the International Sale of Goods does not apply to this Agreement. The Parties agree that Article VIII (Dispute Resolution) of the Separation Agreement shall be incorporated into this Agreement by reference (with appropriate and necessary adjustments being made to the effect that references to "this Agreement" therein shall be deemed to refer to this Agreement). Any terms from the Separation Agreement which are incorporated in this Agreement shall be effective and continue as a binding obligation herein, including without limitation Article VIII (Dispute Resolution), regardless of whether the Separation Agreement, or those specific provisions in the Separation Agreement, terminate or expire.

[*Signature Page Follows*]

Page 17 of 18

SIGNATURE PAGE OF THE FILTRATION AFTERMARKET SUPPLY AGREEMENT

WITNESS, the execution hereof by duly authorized representatives of each Party:

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| | |
|:---|:---|
| **Cummins Inc.** | **Atmus Filtration Technologies Inc.** |
| By: | By: |
| Name: | Name: |
| Title: | Title: |
| Date: | Date: |

---

---

| | |
|:---|:---|
| **Cummins Inc.** | **Atmus Filtration Technologies Inc.** |
| By: | By: |
| Name: | Name: |
| Title: | Title: |
| Date: | Date: |

---

---

| | |
|:---|:---|
| **Cummins Inc.** | **Atmus Filtration Technologies Inc.** |
| By: | By: |
| Name: | Name: |
| Title: | Title: |
| Date: | Date: |

---

## Exhibit 10.7

**Exhibit 10.7**

Form of

REGISTRATION RIGHTS AGREEMENT

by and between

ATMUS FILTRATION TECHNOLOGIES INC.

and

CUMMINS INC.

Dated as of [●], 2023

**TABLE OF CONTENTS**

Article I DEFINITIONS 1

Section 1.1 Defined Terms 1 <br> Section 1.2 General Interpretive Principles 4

Article II REGISTRATION RIGHTS 5

---

| | | |
|:---|:---|:---|
| Section 2.1 | Registration | 5 |
| Section 2.2 | Piggyback Registrations | 7 |
| Section 2.3 | Selection of Underwriter(s), Etc. | 9 |
| Section 2.4 | Registration Procedures | 9 |
| Section 2.5 | Holdback Agreements | 13 |
| Section 2.6 | Underwriting Agreement in Underwritten Offerings | 14 |
| Section 2.7 | Convertible or Exchange Registration | 14 |
| Section 2.8 | Registration Expenses | 14 |
| Section 2.9 | Indemnification | 14 |
| Section 2.10 | Reporting Requirements; Rule 144 | 17 |
| Section 2.11 | Other Registration Rights | 17 |

---

Article III MISCELLANEOUS 17

---

| | | |
|:---|:---|:---|
| Section 3.1 | Term | 17 |
| Section 3.2 | Notices | 18 |
| Section 3.3 | Successors, Assigns and Transferees | 18 |
| Section 3.4 | Governing Law; No Jury Trial | 18 |
| Section 3.5 | Dispute Resolution | 19 |
| Section 3.6 | Specific Performance | 19 |
| Section 3.7 | Headings | 19 |
| Section 3.8 | Severability | 19 |
| Section 3.9 | Amendment; Waiver | 19 |
| Section 3.10 | Further Assurances | 20 |
| Section 3.11 | Counterparts | 20 |
| Section 3.12 | Separation Agreement | 20 |

---

i

**FORM OF REGISTRATION RIGHTS AGREEMENT**

This REGISTRATION RIGHTS AGREEMENT, dated as of [·], 2023 (this "<u>Agreement</u>"), is by and between Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Filtration</u>"), and Cummins Inc., an Indiana corporation ("<u>Cummins</u>").

WHEREAS, Cummins currently owns all of the issued and outstanding shares of common stock, par value $0.0001 per share, of Filtration ("<u>Filtration Common Stock</u>");

WHEREAS, Cummins intends for an offer and sale to the public of shares of Filtration Common Stock (the "<u>IPO</u>") to take place pursuant to a registration statement on Form S-1 (the "<u>IPO Registration Statement</u>");

WHEREAS, after the IPO, Cummins may transfer shares of Filtration Common Stock to holders of shares of Cummins' common stock by means of one or more distributions by Cummins to holders of shares of Cummins' common stock of shares of Filtration Common Stock, one or more offers to holders of Cummins' common stock to exchange their shares of Cummins common stock for shares of Filtration Common Stock, or any combination thereof (the "<u>Distribution</u>");

WHEREAS, from time to time, Cummins may sell or offer to sell some or all of the outstanding shares of Filtration Common Stock then owned directly or indirectly by Cummins, in one or more transactions Registered under the Securities Act; and

WHEREAS, Filtration desires to grant to Cummins the Registration Rights (as defined below) for the Registrable Securities (as defined below), subject to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:

**Article I<u><br> DEFINITIONS</u>**

Section 1.1<u>Defined Terms</u>. As used in this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)"<u>Affiliate</u>" shall mean, when used with respect to a specified Person, another Person that controls, is controlled by, or is under common control with the Person specified; <u>provided</u>, <u>however</u>, that, for purposes of this Agreement, Filtration and its Subsidiaries shall not be considered to be "Affiliates" of Cummins and its Subsidiaries (other than Filtration and its Subsidiaries), and Cummins and its Subsidiaries (other than Filtration and its Subsidiaries) shall not be considered to be "Affiliates" of Filtration or its Subsidiaries. As used herein, "<u>control</u>" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person, whether through the ownership of voting securities or other interests, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)"<u>Agreement</u>" shall have the meaning set forth in the preamble to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)"<u>Business Day</u>" shall mean any day that is not a Saturday, Sunday or other day on which banking institutions doing business in New York, New York are authorized or obligated by law or required by executive order to be closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)"<u>Convertible or Exchange Registration</u>" shall have the meaning set forth in <u>Section 2.7</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)"<u>Cummins</u>" shall have the meaning set forth in the preamble to this Agreement and shall include its successors, by merger, acquisition, reorganization or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)"<u>Demand Registration</u>" shall have the meaning set forth in <u>Section 2.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)"<u>Distribution</u>" shall have the meaning set forth in the recitals to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)"<u>Exchange Act</u>" shall mean the United States Securities Exchange Act of 1934, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)"<u>Filtration</u>" shall have the meaning set forth in the preamble to this Agreement and shall include its successors, by merger, acquisition, reorganization or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)"<u>Filtration Common Stock</u>" shall have the meaning set forth in the recitals to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)"<u>Filtration Public Sale</u>" shall have the meaning set forth in <u>Section 2.2(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)"<u>Filtration Notice</u>" shall have the meaning set forth in <u>Section 2.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)"<u>Filtration Takedown Notice</u>" shall have the meaning set forth in <u>Section 2.1(g)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)"<u>Governmental Authority</u>" shall mean any nation or government, any state, municipality or other political subdivision thereof, and any entity, body, agency, commission, department, board, bureau, court, tribunal or other instrumentality, whether federal, state, local, domestic, foreign or multinational, exercising executive, legislative, judicial, regulatory, administrative or other similar functions of, or pertaining to, government and any executive official thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)"<u>Holder</u>" shall mean Cummins or any of its Subsidiaries, so long as such Person holds any Registrable Securities, and any Person owning Registrable Securities who is a permitted transferee of rights under <u>Section 3.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)"<u>Initiating Holder</u>" shall have the meaning set forth in <u>Section 2.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17)"<u>IPO</u>" shall have the meaning set forth in the recitals to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18)"<u>IPO Registration Statement</u>" shall have the meaning set forth in the recitals to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19)"<u>Loss</u>" or "<u>Losses</u>" shall have the meaning set forth in <u>Section 2.9(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20)"<u>Person</u>" shall mean any individual, firm, limited liability company, private limited company, partnership, joint venture, corporation, joint stock company, trust or unincorporated organization, incorporated or unincorporated association, government (or any department, agency or political subdivision thereof) or other entity of any kind, and shall include any successor (by merger or otherwise) of such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21)"<u>Piggyback Registration</u>" shall have the meaning set forth in <u>Section 2.2(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22)"<u>Prospectus</u>" shall mean the prospectus included in any Registration Statement, all amendments and supplements to such prospectus, including post-effective amendments, and all other material incorporated by reference in such prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23)"<u>Registrable Securities</u>" shall mean any Shares and any securities issued or issuable directly or indirectly with respect to, in exchange for, upon the conversion of or in replacement of the Shares, whether by way of a dividend or distribution or stock split or in connection with a combination of shares, recapitalization, merger, consolidation, exchange or other reorganization. The term "<u>Registrable Securities</u>" excludes any security (i) the sale of which has been effectively Registered under the Securities Act and which has been disposed of in accordance with a Registration Statement, (ii) that has been sold or disposed of pursuant to Rule 144 (or any successor provision) under the Securities Act, (iii) that may be sold pursuant to Rule 144 (or any successor provision) under the Securities Act without being subject to the volume limitations in subsection (e) of such rule or (iv) that has been sold by a Holder in a transaction in which such Holder's rights under this Agreement are not, or cannot be, assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24)"<u>Registration</u>" shall mean a registration with the SEC of the offer and sale to the public of any Filtration Common Stock under a Registration Statement. The terms "<u>Register,</u>" "<u>Registered</u>" and "<u>Registering</u>" shall have a correlative meaning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25)"<u>Registration Expenses</u>" shall mean all reasonable, documented and out-of-pocket expenses incurred and paid by Filtration and required for Filtration's performance of or compliance with this Agreement, including all (i) such registration, qualification and filing fees; (ii) reasonable expenses incurred in connection with the preparation, printing and filing under the Securities Act of the Registration Statement, any Prospectus and any issuer free writing prospectus and the distribution thereof; (iii) the reasonable fees and expenses of Filtration's outside counsel and independent accountants; (iv) such fees and expenses incurred by Filtration in connection with the registration or qualification and determination of eligibility for investment of the Shares under the state or foreign securities or blue sky laws and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses of counsel); (v) such costs and charges of any transfer agent and any registrar; (vi) such expenses and application fees incurred in connection with any filing with, and clearance of an offering by, Financial Industry Regulatory Authority, Inc.; (vii) such expenses incurred in connection with any "road show" presentation to potential investors; (viii) printing expenses, messenger, telephone and delivery expenses; and (ix) such fees and expenses of listing any Registrable Securities on any securities exchange on which shares of Filtration Common Stock are then listed. Registration Expenses shall not include any internal expenses of Filtration (including all salaries and expenses of employees of Filtration performing legal or accounting duties).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26)"<u>Registration Period</u>" shall have the meaning set forth in <u>Section 2.1(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27)"<u>Registration Rights</u>" shall mean the rights of the Holders to cause Filtration to Register Registrable Securities pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28)"<u>Registration Statement</u>" shall mean any registration statement of Filtration filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such registration statement, including post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29)"<u>Registration Suspension</u>" shall have the meaning set forth in <u>Section 2.1(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30)"<u>SEC</u>" shall mean the United States Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31)"<u>Securities Act</u>" shall mean the United States Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32)"<u>Shares</u>" shall mean all shares of Filtration Common Stock that are beneficially owned by Cummins or any permitted transferee from time to time, whether or not held immediately following the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33)"<u>Shelf Registration</u>" shall mean a Registration Statement of Filtration for an offering to be made on a delayed or continuous basis of Filtration Common Stock pursuant to Rule 415 under the Securities Act (or similar provisions then in effect).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34)"<u>Subsidiary</u>" shall mean, with respect to any Person: (i) a corporation, fifty percent (50%) or more of the voting or capital stock of which is, as of the time in question, directly or indirectly owned by such Person; and (ii) any other Person in which such Person, directly or indirectly, owns fifty percent (50%) or more of the equity or economic interest thereof or has the power to elect or direct the election of fifty percent (50%) or more of the members of the governing body of such Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35)"<u>Takedown Notice</u>" shall have the meaning set forth in <u>Section 2.1(g)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36)"<u>Underwritten Offering</u>" shall mean a Registration in which securities of Filtration are sold to an underwriter or underwriters on a firm commitment basis for reoffering to the public.

Section 1.2<u>General Interpretive Principles</u>. Whenever used in this Agreement, except as otherwise expressly provided or unless the context otherwise requires, (a) any noun or pronoun shall be deemed to include the plural as well as the singular and to cover all genders; (b) the words "include," "includes" or "including" when used in this Agreement shall be deemed to be followed by the words "without limitation"; (c) the terms "hereof," "herein," "hereunder" and similar terms refer to this Agreement as a whole (including the exhibits hereto) and not to any particular Article, Section or provision of this Agreement; (d) the word "or" when used in this Agreement shall not be exclusive; (e) references in this Agreement to "days" means calendar days unless Business Days are expressly specified; (f) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and, if the last day of such period is not a Business Day, then the period shall end on the next succeeding Business Day; (g) the words "written request" and "written notice" when used in this Agreement shall include email; (h) references in this Agreement to any time shall be to Indianapolis, Indiana time unless otherwise expressly provided herein; (i) references in this Agreement to a percentage or a majority of Filtration Common Stock shall mean such percentage or majority determined on a fully-diluted basis; and (j) references in this Agreement to any Person includes such Person's permitted successors and assigns. The parties have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

**Article II<u><br> REGISTRATION RIGHTS</u>**

Section 2.1<u>Registration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Request</u>. Any Holder(s) of Registrable Securities shall have the right to request that Filtration file a Registration Statement with the SEC on the appropriate registration form for all or part of the Registrable Securities held by such Holder once such Registrable Securities are no longer subject to an underwriter lock-up applicable to the IPO (which may be due to the expiration or waiver of such lock-up with respect to such Registrable Securities) by delivering a written request to Filtration specifying the number of shares of Registrable Securities such Holder wishes to Register (a "<u>Demand Registration</u>" and such Holder(s) requesting the Demand Registration, collectively, the "<u>Initiating Holder</u>"). Filtration shall (i) within fifteen (15) days of the receipt of such request, give written notice of such Demand Registration to all Holders of Registrable Securities (the "<u>Filtration Notice</u>"), (ii) use its reasonable best efforts to file a Registration Statement in respect of such Demand Registration within forty-five (45) days of receipt of the request, and (iii) use its reasonable best efforts to cause such Registration Statement to become effective as expeditiously as possible. Filtration shall include in such Registration all Registrable Securities that the Holders request to be included within the fifteen (15) days following their receipt of the Filtration Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Limitations of Demand Registrations</u>. There shall be no limitation on the number of Demand Registrations pursuant to <u>Section 2.1(a)</u>; provided, however, that the Holders may not require Filtration to effect a Demand Registration (i) in violation of the underwriting agreement entered into in connection with the IPO; (ii) more than three (3) times in any twelve (12) month period; or (iii) within sixty (60) days after the effective date of a previous Registration by Filtration, other than a Shelf Registration, effected pursuant to this <u>Section 2.1</u> (it being understood that the IPO Registration Statement shall not be treated as a Demand Registration). In the event that any Person shall have received rights to Demand Registrations pursuant to <u>Section 2.7</u> or <u>Section 3.3</u>, and such Person shall have made a Demand Registration request, such request shall be treated as having been made by the Holder(s). The Registrable Securities requested to be Registered pursuant to <u>Section 2.1(a)</u> must represent (i) an aggregate offering price of Registrable Securities that is reasonably expected to equal at least $10,000,000 (or its equivalent if the Registrable Securities are to be offered in an exchange offer) or (ii) all of the remaining Registrable Securities owned by the Initiating Holder and its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Effective Registration</u>. Filtration shall be deemed to have effected a Registration for purposes of <u>Section 2.1(b)</u> if the Registration Statement is declared effective by the SEC or becomes effective upon filing with the SEC, and remains effective until the earlier of (i) the date when all Registrable Securities thereunder have been sold; or (ii) ninety (90) days from the effective date of the Registration Statement (the "<u>Registration Period</u>") or the Initiating Holder(s) withdraw from participation from a Demand Registration and as a result such Demand Registration is no longer eligible for Registration or otherwise required to be completed. No Registration shall be deemed to have been effective if the conditions to closing specified in the underwriting agreement, if any, entered into in connection with such Registration are not satisfied by reason of Filtration. If, during the Registration Period, such Registration is interfered with by any Registration Suspension, stop order, injunction or other order or requirement of the SEC or other Governmental Authority, the Registration Period shall be extended on a day-for-day basis for any period the Initiating Holder is unable to complete an offering as a result of such Registration Suspension, stop order, injunction or other order or requirement of the SEC or other Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Delay in Filing; Suspension of Registration</u>. If the filing, initial effectiveness or continued use of a Registration Statement would, as reasonably determined in good faith by Filtration, require the disclosure of material non-public information that Filtration has a bona fide business purpose to keep confidential and the disclosure of which would have a material adverse effect upon Filtration, Filtration may, upon giving prompt written notice of such action to the Holders, postpone the filing or effectiveness or suspend the use of such Registration (a "<u>Registration Suspension</u>") for a period not to exceed thirty (30) days; provided, however, that (i) Filtration may not exercise a Registration Suspension with respect to a Registration relating to an Distribution; (ii) the period may be extended up to fifteen (15) additional days with the Holders' written consent, which may not be unreasonably withheld, conditioned or delayed; and provided, further, that Filtration may exercise a Registration Suspension no more than two (2) times in any twelve (12) month period. Notwithstanding the foregoing, no such delay shall exceed such number of days that Filtration determines in good faith to be reasonably necessary. Notwithstanding the foregoing, Filtration may not effect any Registration Suspension with respect to a Registration relating to a Distribution. Filtration shall (i) immediately notify the Holders upon the termination of any Registration Suspension, (ii) amend or supplement the Prospectus, if necessary, so it does not contain any untrue statement or omission therein and (iii) furnish to the Holders such numbers of copies of the Prospectus as so amended or supplemented as the Holders may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Underwritten Offering</u>. If the Initiating Holder so indicates at the time of its request pursuant to <u>Section 2.1(a)</u>, such offering of Registrable Securities shall be in the form of an Underwritten Offering and Filtration shall include such information in the Filtration Notice. In the event that the Initiating Holder intends to distribute the Registrable Securities by means of an Underwritten Offering, the right of any Holder to include Registrable Securities in such Registration shall be conditioned upon such Holder's participation in such underwriting and the inclusion of such Holder's Registrable Securities in the underwriting. All Holders intending to distribute their Registerable Securities through any Underwritten Offering as set forth herein shall enter into an underwriting agreement in customary form with the underwriter(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)<u>Priority of Securities in an Underwritten Offering</u>. If the managing underwriter(s) of a proposed Underwritten Offering, including an Underwritten Offering from a Shelf Registration, pursuant to this <u>Section 2.1</u> informs the Holders with Registrable Securities in the proposed Underwritten Offering in writing that, in its or their opinion, the number of securities requested to be included in such Underwritten Offering exceeds the number that can be sold in such Underwritten Offering without being likely to have an adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included in such Underwritten Offering shall be reduced to such number that can be sold without such adverse effect and the securities to be included in such Underwritten Offering shall be: (i) first, Registrable Securities requested by Cummins to be included in such Underwritten Offering; (ii) second, Registrable Securities requested by all other Holders to be included in such Underwritten Offering on a pro rata basis calculated based on the number of shares requested to be Registered; and (iii) third, all other securities requested and otherwise eligible to be included in such Underwritten Offering (including securities to be sold for the account of Filtration) as determined by Filtration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)<u>Shelf Registration</u>. At any time after the date hereof when Filtration is eligible to Register the applicable Registrable Securities on Form S-3 (or a successor form) and the Holder may request Demand Registrations, the Initiating Holders may request Filtration to effect a Demand Registration as a Shelf Registration. Any Holder included on a Shelf Registration shall have the right to request that Filtration cooperate in a shelf takedown at any time, including an Underwritten Offering, by delivering a written request thereof to Filtration specifying the number of shares of Registrable Securities such Holder wishes to include in the shelf takedown ("<u>Takedown Notice</u>"). Filtration shall (i) within fifteen (15) days of the receipt of a Takedown Notice for an Underwritten Offering, give written notice of such Takedown Notice to all Holders of Registrable Securities included on such Shelf Registration ("<u>Filtration Takedown Notice</u>"), and (ii) take all actions reasonably requested by such Holders, including the filing of a Prospectus supplement and the other actions described in <u>Section 2.4</u>, in accordance with the intended method of distribution set forth in the Takedown Notice as expeditiously as possible. If the takedown is an Underwritten Offering, Filtration shall include in such Underwritten Offering all Registrable Securities that that the Holders request to be included within the two (2) days following their receipt of the Filtration Takedown Notice. If the takedown is an Underwritten Offering, the Registrable Securities requested to be included in a shelf takedown must represent (i) an aggregate offering price of Registrable Securities that is reasonably expected to equal at least $10,000,000 or (ii) all of the remaining Registrable Securities owned by the Initiating Holder(s) and shall constitute a Demand Registration. Notwithstanding anything else to the contrary in this Agreement, the requirement to deliver a Takedown Notice and the piggyback rights described in this <u>Section 2.1(g)</u> shall not apply to an Underwritten Offering that constitutes a block trade.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)<u>SEC Form</u>. Except as set forth in the next sentence, Filtration shall use its reasonable best efforts to cause Demand Registrations to be Registered on Form S-3 (or any successor form), and if Filtration is not then eligible under the Securities Act to use Form S-3, Demand Registrations shall be Registered on Form S-1 (or any successor form) or Form S-4 (in the case of an exchange offer). If a Demand Registration is a Convertible or Exchange Registration, Filtration shall effect such Registration on the appropriate Form under the Securities Act for such Registrations. Filtration shall use its reasonable best efforts to become eligible to use Form S-3 and, after becoming eligible to use Form S-3, shall use its reasonable best efforts to remain so eligible. All Demand Registrations shall comply with applicable requirements of the Securities Act and, together with each Prospectus included, filed or otherwise furnished by Filtration in connection therewith, shall not contain any untrue statement of material fact or omit a material fact required to be stated therein or necessary to make the statements therein not misleading.

Section 2.2<u>Piggyback Registrations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Participation</u>. If Filtration proposes to file a Registration Statement under the Securities Act with respect to any offering of Filtration Common Stock for its own account and/or for the account of any other Persons (other than a Registration (i) under <u>Section 2.1</u> hereof, (ii) pursuant to a Registration Statement on Form S-8 or Form S-4 or similar form that relates to a transaction subject to Rule 145 under the Securities Act, (iii) pursuant to any form that does not include substantially the same information as would be required to be included in a Registration Statement covering the sale of Registrable Securities, (iv) in connection with any dividend reinvestment or similar plan, (v) for the sole purpose of offering securities to another entity or its security holders in connection with the acquisition of assets or securities of such entity or any similar transaction or (vi) in which the only Filtration Common Stock being Registered is Filtration Common Stock issuable upon conversion of debt securities) (a "<u>Filtration Public Sale</u>"), then, as soon as practicable (but in no event less than fifteen (15) days prior to the proposed date of filing such Registration Statement), Filtration shall give written notice of such proposed filing to each Holder, and such notice shall offer such Holders the opportunity to Register under such Registration Statement such number of Registrable Securities as each such Holder may request in writing (a "<u>Piggyback Registration</u>"). Subject to <u>Section 2.2(a)</u> and <u>Section 2.2(c)</u>, Filtration shall include in such Registration Statement all such Registrable Securities that are requested to be included therein within fifteen (15) days after the receipt of any such notice; <u>provided</u>, <u>however</u>, that if, at any time after giving written notice of its intention to Register any securities and prior to the effective date of the Registration Statement filed in connection with such Registration, Filtration shall determine for any reason not to Register or to delay Registration of such securities, Filtration may, at its election, give written notice of such determination to each such Holder and, thereupon, (i) in the case of a determination not to Register, shall be relieved of its obligation to Register any Registrable Securities in connection with such Registration, without prejudice, however, to the rights of any Holder to request that such Registration be effected as a Demand Registration under <u>Section 2.1</u>, and (ii) in the case of a determination to delay Registration, shall be permitted to delay Registering any Registrable Securities for the same period as the delay in Registering such other shares of Filtration Common Stock. No Registration effected under this <u>Section 2.2</u> shall relieve Filtration of its obligation to effect any Demand Registration under <u>Section 2.1</u>. If the offering pursuant to a Registration Statement pursuant to this <u>Section 2.2</u> is to be an Underwritten Offering, then each Holder making a request for a Piggyback Registration pursuant to this <u>Section 2.2(a)</u> shall, and Filtration shall use reasonable best efforts to coordinate arrangements with the underwriters so that each such Holder may, participate in such Underwritten Offering. If the offering pursuant to such Registration Statement is to be on any other basis, then each Holder making a request for a Piggyback Registration pursuant to this <u>Section 2.2(a)</u> shall, and Filtration shall use reasonable best efforts to coordinate arrangements so that each such Holder may, participate in such offering on such basis. Filtration's filing of a Shelf Registration shall not be deemed to be a Filtration Public Sale; <u>provided</u>, <u>however</u>, that the proposal to file any Prospectus supplement filed pursuant to a Shelf Registration with respect to an offering of Filtration Common Stock for its own account and/or for the account of any other Persons will be a Filtration Public Sale unless such offering qualifies for an exemption from the Filtration Public Sale definition in this <u>Section 2.2(a)</u>; <u>provided</u>, <u>further</u> that if Filtration files a Shelf Registration for its own account and/or for the account of any other Persons, Filtration agrees that it shall use its reasonable best efforts to include in such Registration Statement such disclosures as may be required by Rule 430B under the Securities Act in order to ensure that the Holders may be added to such Shelf Registration at a later time through the filing of a Prospectus supplement rather than a post-effective amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Right to Withdraw</u>. Each Holder shall have the right to withdraw such Holder's request for inclusion of its Registrable Securities in any Underwritten Offering pursuant to this <u>Section 2.2</u> at any time prior to the execution of an underwriting agreement with respect thereto by giving written notice to Filtration of such Holder's request to withdraw and, subject to the preceding clause, each Holder shall be permitted to withdraw all or part of such Holder's Registrable Securities from a Piggyback Registration at any time prior to the effective date thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Priority of Piggyback Registration</u>. If the managing underwriter(s) of any proposed Underwritten Offering of a class of Registrable Securities included in a Piggyback Registration informs Filtration in writing that the number of securities of such class which such Holder and any other Persons intend to include in such Underwritten Offering exceeds the number which can be sold in such Underwritten Offering without being likely to have an adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included in such Underwritten Offering shall be reduced to such number that can be sold without such adverse effect and the securities to be included in the Underwritten Offering shall be (i) first, all securities Filtration or any other Persons for whom Filtration is effecting the Underwritten Offering, as the case may be, proposes to sell; (ii) second, Registrable Securities requested by Cummins, (iii) third, Registrable Securities requested by all other Holders to be included in such Underwritten Offering on a pro rata basis calculated based on the number of shares requested to be Registered; and (iv) fourth, all other securities requested and otherwise eligible to be included in such Underwritten Offering on a pro rata basis calculated based on the number of shares requested to be Registered as determined by Filtration.

Section 2.3<u>Selection of Underwriter(s), Etc.</u> In any Underwritten Offering pursuant to <u>Section 2.1</u>, Cummins, in the event Cummins is participating, or the Holders of a majority of the outstanding Registrable Securities being included in the Underwritten Offering, in the event Cummins is not participating, shall have the right to approve the selection of the underwriter(s), financial printer, solicitation and/or exchange agent (if any) and Cummins (or the Holders of a majority of the outstanding Registerable Securities being included in the Offering in the event Cummins is not participating, shall select counsel to the Holder(s) for such Underwritten Offering which shall not be unreasonably withheld. In any Underwritten Offering pursuant to Section 2.2, Filtration shall select the underwriter(s), financial printer, solicitation and/or exchange agent (if any) and Cummins, in the event Cummins is participating, or the Holders of a majority of the outstanding Registrable Securities being included in the Underwritten Offering pursuant to Section 2.2, in the event Cummins is not participating, shall select counsel to the Holder(s).

Section 2.4<u>Registration Procedures</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)In connection with the Registration and/or sale of Registrable Securities pursuant to this Agreement, through an Underwritten Offering or otherwise, Filtration shall use reasonable best efforts to effect or cause the Registration and the sale of such Registrable Securities in accordance with the intended methods of disposition thereof and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)prepare and file the required Registration Statement including all exhibits and financial statements required under the Securities Act to be filed therewith, and before filing with the SEC a Registration Statement or Prospectus, or any amendments or supplements thereto, (A) furnish to the underwriters, if any, and to the Holders, copies of all documents prepared to be filed, which documents will be subject to the review of such underwriters and such Holders and their respective counsel, and (B) not file with the SEC any Registration Statement or Prospectus or amendments or supplements thereto to which Holders or the underwriters, if any, shall reasonably object;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)except in the case of a Shelf Registration or Convertible or Exchange Registration, prepare and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all of the Shares Registered thereon until the earlier of (A) such time as all of such Shares have been disposed of in accordance with the intended methods of disposition set forth in such Registration Statement or (B) the expiration of nine (9) months after such Registration Statement becomes effective, plus the number of days of any Registration Suspension;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)in the case of a Shelf Registration, prepare and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all Shares subject thereto for a period ending thirty-six (36) months after the effective date of such Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)in the case of a Convertible or Exchange Registration, prepare and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all of the Shares subject thereto until such time as the rules, regulations and requirements of the Securities Act and the terms of any applicable convertible securities no longer require such Shares to be Registered under the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)notify the participating Holders and the managing underwriter(s), if any, and (if requested) confirm such advice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by Filtration (A) when the applicable Registration Statement or any amendment thereto has been filed or becomes effective, when the applicable Prospectus or any amendment or supplement to such Prospectus has been filed, (B) of any written comments by the SEC or any request by the SEC or any other Governmental Authority for amendments or supplements to such Registration Statement or such Prospectus or for additional information, (C) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order preventing or suspending the use of any preliminary or final Prospectus or the initiation or threatening of any proceedings for such purposes, (D) if, at any time, the representations and warranties of Filtration in any applicable underwriting agreement cease to be true and correct in all material respects, and (E) of any notification with respect to the suspension of the qualification of the Registrable Securities for offering or sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; subject to <u>Section 2.1(d)</u>, promptly notify each selling Holder and the managing underwriter(s), if any, when Filtration becomes aware of the occurrence of any event as a result of which the applicable Registration Statement or the Prospectus included in such Registration Statement (as then in effect) contains any untrue statement of a material fact or omits a material fact necessary to make the statements therein (in the case of such Prospectus and any preliminary Prospectus, in light of the circumstances under which they were made) not misleading or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement or Prospectus in order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter, prepare and file with the SEC, and furnish without charge to the selling Holder and the managing underwriter(s), if any, an amendment or supplement to such Registration Statement or Prospectus which will correct such statement or omission or effect such compliance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)use its reasonable best efforts to prevent or obtain the withdrawal of any stop order or other order suspending the use of any preliminary or final Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)promptly incorporate in a Prospectus supplement or post-effective amendment such information as the managing underwriters, if any, and the Holders may reasonably request in order to permit the intended method of distribution of the Registrable Securities; and make all required filings of such Prospectus supplement or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)furnish to each selling Holder and each underwriter, if any, without charge, as many conformed copies as such Holder or underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by reference);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)deliver to each selling Holder and each underwriter, if any, without charge, as many copies of the applicable Prospectus (including each preliminary Prospectus) and any amendment or supplement thereto as such Holder or underwriter may reasonably request (it being understood that Filtration consents to the use of such Prospectus or any amendment or supplement thereto by each selling Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus or any amendment or supplement thereto) and such other documents as such selling Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Holder or underwriter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)on or prior to the date on which the applicable Registration Statement is declared effective or becomes effective, use its reasonable best efforts to register or qualify, and cooperate with each selling Holder, the managing underwriter(s), if any, and their respective counsel, in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities or "<u>Blue Sky</u>" laws of each state and other jurisdiction of the United States as any selling Holder or managing underwriter(s), if any, or their respective counsel reasonably request in writing and do any and all other acts or things reasonably necessary or advisable to keep such registration or qualification in effect for so long as such Registration Statement remains in effect and so as to permit the continuance of sales and dealings in such jurisdictions of the United States for so long as may be necessary to complete the distribution of the Registrable Securities covered by the Registration Statement; <u>provided</u> that Filtration will not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)in connection with any sale of Registrable Securities that will result in such securities no longer being Registrable Securities, reasonably cooperate with each selling Holder and the managing underwriter(s), if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive Securities Act legends; and to register such Registrable Securities in such denominations and such names as such selling Holder or the underwriter(s), if any, may request at least two (2) Business Days prior to such sale of Registrable Securities; <u>provided</u> that Filtration may satisfy its obligations hereunder without issuing physical stock certificates through the use of the Depository Trust Company's Direct Registration System;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority and each securities exchange, if any, on which any of Filtration's securities are then listed or quoted and on each inter-dealer quotation system on which any of Filtration's securities are then quoted, and in the performance of any due diligence investigation by any underwriter (including any "qualified independent underwriter") that is required to be retained in accordance with the rules and regulations of each such exchange, and use its reasonable best efforts to cause the Registrable Securities covered by the applicable Registration Statement to be registered with or approved by such other Governmental Authority as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the disposition of such Registrable Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)not later than the effective date of the applicable Registration Statement, provide a CUSIP number for all Registrable Securities and provide the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit with The Depository Trust Company; <u>provided</u> that Filtration may satisfy its obligations hereunder without issuing physical stock certificates through the use of the Depository Trust Company's Direct Registration System;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)obtain for delivery to and addressed to each selling Holder and to the underwriter(s), if any, opinions from counsel for Filtration, in each case dated the effective date of the Registration Statement or, in the event of an Underwritten Offering, the date of the closing under the underwriting agreement, and in each such case in customary form and content for the type of offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)in the case of an Underwritten Offering, obtain for delivery to and addressed to Filtration and the underwriter(s) and, to the extent requested, each selling Holder, a comfort letter from Filtration's or other applicable independent certified public accountants in customary form and content for the type of Underwritten Offering, dated the date of execution of the underwriting agreement and brought down to the closing under the underwriting agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)use its reasonable best efforts to comply with all applicable rules and regulations of the SEC and make generally available to its security holders, as soon as reasonably practicable, but no later than ninety (90) days after the end of the twelve (12)-month period beginning with the first day of Filtration's first quarter commencing after the effective date of the applicable Registration Statement, an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder and covering the period of at least twelve (12) months, but not more than eighteen (18) months, beginning with the first month after the effective date of the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the applicable Registration Statement from and after a date not later than the effective date of such Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii)cause all Registrable Securities covered by the applicable Registration Statement to be listed on each securities exchange on which any of Filtration's securities are then listed or quoted and on each inter-dealer quotation system on which any of Filtration's securities are then quoted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix)provide (A) each Holder participating in the Registration, (B) the underwriters (which term, for purposes of this Agreement, shall include a Person deemed to be an underwriter within the meaning of Section 2(11) of the Securities Act), if any, of the Registrable Securities to be Registered, (C) the sale or placement agent therefor, if any, (D) counsel for such underwriters or agent, and (E) any attorney, accountant or other agent or representative retained by such Holder or any such underwriter, as selected by such Holder, the opportunity to participate in the preparation of such Registration Statement, each Prospectus included therein or filed with the SEC, and each amendment or supplement thereto, and to require the insertion therein of material, furnished to Filtration in writing, which in the reasonable judgment of such Holder(s) and their counsel should be included; and for a reasonable period prior to the filing of such Registration Statement, upon receipt of such confidentiality agreements as Filtration may reasonably request, make available upon reasonable notice at reasonable times and for reasonable periods for inspection by the parties referred to in (A) through (E) above, all pertinent financial and other records, pertinent corporate documents and properties of Filtration that are available to Filtration, and cause all of Filtration's officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available at reasonable times and for reasonable periods to discuss the business of Filtration and to supply all information available to Filtration reasonably requested by any such Person in connection with such Registration Statement as shall be necessary to enable them to exercise their due diligence responsibility, subject to the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx)to cause the executive officers of Filtration to participate in customary "road show" presentations that may be reasonably requested by the managing underwriter(s) in any Underwritten Offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxi)take all other customary steps reasonably necessary to effect the Registration, offering and sale of the Registrable Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)As a condition precedent to any Registration hereunder, Filtration may require each Holder as to which any Registration is being effected to furnish to Filtration such information regarding the distribution of such securities and such other information relating to such Holder, its ownership of Registrable Securities and other matters as Filtration may from time to time reasonably request in writing. Each such Holder agrees to furnish such information to Filtration and to cooperate with Filtration as reasonably necessary to enable Filtration to comply with the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Cummins agrees, and any other Holder agrees by acquisition of such Registrable Securities, that, upon receipt of any written notice from Filtration of the occurrence of any event of the kind described in <u>Section 2.4(a)(v)</u>, such Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Registration Statement until such Holder's receipt of the copies of the supplemented or amended Prospectus contemplated by <u>Section 2.4(a)(v)</u>, or until such Holder is advised in writing by Filtration that the use of the Prospectus may be resumed, and if so directed by Filtration, such Holder will deliver to Filtration (at Filtration's expense) all copies, other than permanent file copies then in such Holder's possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. In the event Filtration shall give any such notice, the period during which the applicable Registration Statement is required to be maintained effective shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement either receives the copies of the supplemented or amended Prospectus contemplated by <u>Section 2.4(a)(v)</u> or is advised in writing by Filtration that the use of the Prospectus may be resumed.

Section 2.5<u>Holdback Agreements</u>. To the extent requested in writing by the managing underwriter(s) of any Underwritten Offering, Filtration agrees not to, and shall exercise reasonable best efforts to obtain agreements (in the underwriters' customary form) from its directors and executive officers and beneficial owners of five percent (5%) or more of Filtration Common Stock not to, directly or indirectly offer, sell, pledge, contract to sell (including any short sale), grant any option to purchase or otherwise dispose of any equity securities of Filtration or enter into any hedging transaction relating to any equity securities of Filtration during the ninety (90) days beginning on pricing date of such Underwritten Offering (except as part of such Underwritten Offering or any Distribution or pursuant to Registrations on Form S-8 or S-4 or any successor forms thereto or pursuant to other customary exceptions in the managing underwriter's customary form) unless the managing underwriter(s) otherwise agree to a shorter period.

Section 2.6<u>Underwriting Agreement in Underwritten Offerings</u>. If requested by the managing underwriters for any Underwritten Offering, Filtration shall enter into an underwriting agreement with such underwriter(s) for such offering; <u>provided</u>, <u>however</u>, that no Holder shall be required to make any representations or warranties to Filtration or the underwriter(s) (other than representations and warranties regarding such Holder and such Holder's intended method of distribution) or to undertake any indemnification obligations to Filtration or the underwriter(s) with respect thereto, except as otherwise provided in <u>Section 2.9</u> hereof.

Section 2.7<u>Convertible or Exchange Registration</u>. If any Holder offers any options, rights, warrants or other securities issued by it or any other Person that are offered with, convertible into or exercisable or exchangeable for any Registrable Securities, the Registrable Securities underlying such options, rights, warrants or other securities shall be eligible for Registration pursuant to <u>Section 2.1</u> and <u>Section 2.2</u> hereof (a "<u>Convertible or Exchange Registration</u>").

Section 2.8<u>Registration Expenses</u>. In the case of any Registration of Registrable Securities required pursuant to this Agreement (including any Registration that is delayed or withdrawn) or proposed Underwritten Offering pursuant to this Agreement, Cummins or any other Holder, as applicable, including any transferee of Cummins hereunder, shall pay all Registration Expenses regardless of whether the Registration Statement becomes effective or the Underwritten Offering is completed. If Registrable Securities of more than one Holder are being registered in any Registration under Section 2.1, such Registration Expenses shall be allocated among the Holders based on their respective percentage of Registrable Securities being so Registered. For the avoidance of doubt, Filtration shall in all circumstances be solely responsible for its internal expenses (including all salaries and expenses of employees of Filtration performing legal or accounting duties) and each Holder shall be responsible for its internal expenses and expenses of its outside counsel, and shall assume the cost and expense of any underwriting discounts and commissions attributable to the sale of its Registerable Securities and stock transfer taxes imposed thereon.

Section 2.9<u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Indemnification by Filtration</u>. Filtration agrees to indemnify and hold harmless, to the full extent permitted by law, each Holder, such Holder's Affiliates and their respective officers, directors, employees, advisors, and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons from and against any and all losses, claims, damages, liabilities (or actions in respect thereof, whether or not such indemnified party is a party thereto) and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a "<u>Loss</u>" and collectively "<u>Losses</u>") arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which the sale of such Registrable Securities was Registered under the Securities Act (including any final or preliminary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or any such statement made in any free writing prospectus (as defined in Rule 405 under the Securities Act) that Filtration has filed or is required to file pursuant to Rule 433(d) under the Securities Act, or (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances under which they were made) not misleading; <u>provided</u>, <u>however</u>, that Filtration shall not be liable to any particular indemnified party in any such case to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any such Registration Statement in reliance upon and in conformity with written information furnished to Filtration by such indemnified party expressly for use in the preparation thereof. This indemnity shall be in addition to any liability Filtration may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the transfer of such securities by such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Indemnification by the Selling Holder</u>. Each selling Holder agrees (severally and not jointly) to indemnify and hold harmless, to the full extent permitted by law, Filtration, its directors, officers, employees, advisors, and agents and each Person who controls Filtration (within the meaning of the Securities Act and the Exchange Act) from and against any Losses arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which the sale of such Registrable Securities was Registered under the Securities Act (including any final or preliminary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or any such statement made in any free writing prospectus that Filtration has filed or is required to file pursuant to Rule 433(d) under the Securities Act, or (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances under which they were made) not misleading to the extent, but, in each case (i) or (ii), only to the extent, that such untrue statement or omission is contained in any information furnished in writing by such selling Holder to Filtration specifically for inclusion in such Registration Statement, Prospectus, preliminary Prospectus or free writing prospectus. In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder under the sale of the Registrable Securities giving rise to such indemnification obligation. This indemnity shall be in addition to any liability the selling Holder may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of Filtration or any indemnified party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Conduct of Indemnification Proceedings</u>. Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (<u>provided</u> that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only to the extent that it is materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; <u>provided</u>, <u>however</u>, that any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless (i) the indemnifying party has agreed in writing to pay such fees or expenses, (ii) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to such Person, (iii) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or (iv) in the reasonable judgment of any such Person, based upon advice of its counsel, a conflict of interest may exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person). If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent, but such consent may not be unreasonably withheld, conditioned or delayed. If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action without the consent of the indemnified party, which consent may not be unreasonably withheld, conditioned or delayed. No indemnifying party shall consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect to such claim or litigation. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time from all such indemnified party or parties unless (x) the employment of more than one counsel has been authorized in writing by the indemnified party or parties, (y) an indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties or (z) a conflict or potential conflict exists or may exist (based on advice of counsel to an indemnified party) between such indemnified party and the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Contribution</u>. If for any reason the indemnification provided for in <u>Section 2.9(a)</u> or <u>Section 2.9(b)</u> is unavailable to an indemnified party or insufficient to hold it harmless as contemplated by <u>Section 2.9(a)</u> or <u>Section 2.9(b)</u>, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission of a material fact relates to information supplied by the indemnifying party or the indemnified party and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. Notwithstanding anything in this <u>Section 2.9(d)</u> to the contrary, no indemnifying party (other than Filtration) shall be required pursuant to this <u>Section 2.9(d)</u> to contribute any amount in excess of the amount by which the net proceeds received by such indemnifying party from the sale of Registrable Securities in the offering to which the Losses of the indemnified parties relate (before deducting expenses, if any) exceeds the amount of any damages which such indemnifying party has otherwise been required to pay by reason of such untrue statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this <u>Section 2.9(d)</u> were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in this <u>Section 2.9(d)</u>. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The amount paid or payable by an indemnified party hereunder shall be deemed to include, for purposes of this <u>Section 2.9(d)</u>, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating, preparing to defend or defending against or appearing as a third party witness in respect of, or otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding. If indemnification is available under this <u>Section 2.9</u>, the indemnifying parties shall indemnify each indemnified party to the full extent provided in <u>Section 2.9(a)</u> and <u>Section 2.9(b)</u> hereof without regard to the relative fault of said indemnifying parties or indemnified party.

Section 2.10<u>Reporting Requirements; Rule 144</u>. Filtration shall be and remain in compliance with the periodic filing requirements imposed under the SEC's rules and regulations, including the Exchange Act, and any other applicable laws or rules, and shall timely file such information, documents and reports as the SEC may require or prescribe under Section 13 or 15(d) (whichever is applicable) of the Exchange Act. If Filtration is not required to file such reports, it will, upon the request of any Holder, make publicly available such necessary information for so long as necessary to permit sales pursuant to Rule 144 or Regulation S under the Securities Act, and it will take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without Registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 or Regulation S under the Securities Act, as such Rules may be amended from time to time, or (b) any rule or regulation hereafter adopted by the SEC. From and after the date hereof through the first anniversary of the date upon which no Holder owns any Registrable Securities, Filtration shall forthwith upon request furnish any Holder (i) a written statement by Filtration as to whether it has complied with such requirements and, if not, the specifics thereof, (ii) a copy of the most recent annual or quarterly report of Filtration, and (iii) such other reports and documents filed by Filtration with the SEC as such Holder may reasonably request in availing itself of an exemption for the sale of Registrable Securities without registration under the Securities Act.

Section 2.11<u>Other Registration Rights</u>. Filtration shall not grant to any Person the right to request Filtration to Register any equity securities of Filtration, or any securities convertible or exchangeable into or exercisable for such securities, whether pursuant to "demand", "piggyback" or other rights, unless (i) such rights are subject and subordinate to the rights of the Holder under this Agreement or (ii) Cummins shall have consented in writing to the granting of any rights that are pari passu with any of the rights under this Agreement, such consent not to be unreasonably withheld, conditioned or delayed, provided, however, that in no event shall Filtration grant rights to Register any equity securities of Filtration, or any securities convertible or exchangeable into or exercisable for such securities, that would be pari passu with rights to effectuate or would otherwise potentially delay, postpone, interfere with or otherwise affect any Distribution.

**Article III<u><br> MISCELLANEOUS</u>**

Section 3.1<u>Term</u>. This Agreement shall terminate upon such time as there are no Registrable Securities, except for the provisions of <u>Section 2.8</u> and <u>Section 2.9</u> and all of this Article III, which shall survive any such termination.

Section 3.2<u>Notices</u>. All notices, requests, claims, demands and other communications under this Agreement shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, or by facsimile or electronic mail with receipt confirmed (followed by delivery of an original via overnight courier service) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this <u>Section 3.2</u>):

To Cummins:

Cummins Inc.

500 Jackson Street,

Box 3005

Columbus, Indiana 47202-3005

Attn: General Counsel

Facsimile: [●]

Email: [●]

To Filtration:

Atmus Filtration Technologies Inc.

26 Century Boulevard

Nashville, TN 37214

Attn: General Counsel

Facsimile: [●]

Email: [●]

Section 3.3<u>Successors, Assigns and Transferees</u>. The provisions of this Agreement and the obligations and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the parties and their respective successors and permitted assigns. Filtration may assign this Agreement at any time in connection with a sale or acquisition of Filtration, whether by merger, consolidation, sale of all or substantially all of Filtration's assets, or similar transaction, without the consent of the Holders; provided that the successor or acquiring Person agrees in writing to assume all of Filtration's rights and obligations under this Agreement. A Holder may assign its rights and obligations under this Agreement to any transferee that acquires at least twenty percent (20%) of the number of Registrable Securities beneficially owned by Cummins immediately following the completion of the IPO and executes an agreement to be bound hereby in the form attached hereto as <u>Exhibit A</u>, an executed counterpart of which shall be furnished to Filtration. Notwithstanding the foregoing, each Holder shall obtain for the benefit of Filtration, from each transferee receiving Registerable Securities, an agreement to enter into a holdback obligation, if requested in writing by the managing underwriter(s) of an Underwritten Offering hereunder, to restrict the offer, sale, pledge, contract to sell, grant any option thereon, transfer or otherwise dispose of Registerable Securities, during the ninety (90) days beginning on the pricing date of such Underwritten Offering or such shorter period as the managing underwriter(s) otherwise agrees (except as part of such Underwritten Offering or any Distribution or pursuant to a Registration on Form S-8 or S-4 or any successor form thereto or pursuant to other customary exceptions in the managing underwriter's customary forms). Notwithstanding the foregoing, if such transfer is subject to covenants, agreements or other undertakings restricting transferability thereof, the Registration Rights shall not be transferred in connection with such transfer unless such transferee complies with all such covenants, agreements and other undertaking.

Section 3.4<u>Governing Law; No Jury Trial</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Governing Law</u>. This Agreement and any dispute arising out of, in connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Waiver of Jury Trial</u>. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH OF THE PARTIES HEREBY (I) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 3.4(b)</u>.

Section 3.5<u>Dispute Resolution</u>. Any dispute arising hereunder shall be resolved in accordance with Article VIII of the Separation Agreement entered into between the parties of evendate herewith.

Section 3.6<u>Specific Performance</u>. In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the parties agree that the party or parties to this Agreement who are or are to be thereby aggrieved shall, subject and pursuant to the terms of this <u>Section 3.6</u> (including for the avoidance of doubt, after compliance with all notice, negotiation and mediation provisions herein), have the right to specific performance and injunctive or other equitable relief of its or their rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. The parties agree that the remedies at law for any breach or threatened breach of this Agreement, including monetary damages, are inadequate compensation for any loss, that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any requirements for the securing or posting of any bond with such remedy are hereby waived.

Section 3.7<u>Headings</u>. The article, section and paragraph headings contained in this Agreement are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

Section 3.8<u>Severability</u>. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

Section 3.9<u>Amendment; Waiver</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)This Agreement may not be amended or modified and waivers and consents to departures from the provisions hereof may not be given, except by an instrument or instruments in writing making specific reference to this Agreement and signed by Filtration and the Holders of a majority of the Registrable Securities; <u>provided</u> that if Cummins or any of its Affiliates owns Registrable Securities, no amendment to or waiver of any provision in this Agreement will be effected without the written consent of Cummins if such amendment or waiver adversely affects the rights of Cummins or such Affiliates of Cummins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)No failure to exercise and no delay in exercising, on the part of any party, any right, remedy, power or privilege hereunder shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

Section 3.10<u>Further Assurances</u>. In addition to and without limiting the actions specifically provided for elsewhere in this Agreement and subject to the limitations expressly set forth in this Agreement each of the parties shall cooperate with each other and use (and shall cause its respective Subsidiaries and Affiliates to use) commercially reasonable efforts to take, or to cause to be taken, all actions, and to do, or to cause to be done, all things reasonably necessary on its part under applicable Law or contractual obligations to consummate and make effective the transactions contemplated by this Agreement.

Section 3.11<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party. Execution of this Agreement or any other documents pursuant to this Agreement by facsimile or other electronic copy of a signature shall be deemed to be, and shall have the same effect as, executed by an original signature.

Section 3.12<u>Separation Agreement</u>. The terms of this Agreement shall in no way limit the generality of the provisions of Section 3.7(b) of that certain Separation Agreement by and between Cummins and Filtration, dated as of [●], 2023, in respect of a Distribution, and in the event of a conflict between this Agreement and Section 3.7(b) of the Separation Agreement, Section 3.7(b) shall prevail.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first written above.

CUMMINS INC.

By: <br> Name: <br> Title:

ATMUS FILTRATION TECHNOLOGIES INC.

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By: <br> Name: <br> Title:

[*Registration Rights Agreement*]

**EXHIBIT A**

THIS INSTRUMENT forms part of the Registration Rights Agreement (the "<u>Agreement</u>"), dated as of [●], 2023, by and between Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Filtration</u>"), and Cummins Inc., an Indiana corporation ("<u>Cummins</u>"). The undersigned hereby acknowledges having received a copy of the Agreement and having read the Agreement in its entirety, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, hereby agrees that the terms and conditions of the Agreement binding upon and inuring to the benefit of Cummins shall be binding upon and inure to the benefit of the undersigned and its successors and permitted assigns as if it were an original party to the Agreement.

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IN WITNESS WHEREOF, the undersigned has executed this instrument on this day of ___________________.

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(Signature of Transferee)

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(Print Name)

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## Exhibit 10.8

**Exhibit 10.8**

**TRANSITIONAL TRADEMARK LICENSE AGREEMENT**

This TransitionAL Trademark License Agreement (this "<u>Agreement</u>"), dated as of [●], (the "<u>Effective Date</u>"), is made and entered into by and between Cummins Inc., an Indiana corporation ("<u>Cummins</u>" or "<u>Licensor</u>"), and Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Filtration</u>" or "<u>Licensee</u>"). "<u>Party</u>" or "<u>Parties</u>" means Cummins or Filtration, individually or collectively, as the case may be. Capitalized terms not defined in the context of which such terms are first used in this Agreement shall have the meanings assigned to such terms in <u>Section 1.1</u> or, if not assigned a meaning in <u>Section 1.1</u>, the meanings assigned to such terms in the Separation Agreement.

W I T N E S E T H:

WHEREAS, the Parties have entered into that certain Master Separation Agreement, dated as of [●], 2023 (the "<u>Separation Agreement</u>");

WHEREAS, Licensor owns the Licensed Marks (as defined below) and holds registrations thereof in various countries of the world for various products and services, and has the right to license the Licensed Marks to Licensee in accordance with the terms, and subject to the conditions, set forth herein; and

WHEREAS, in connection with the transactions contemplated by the Separation Agreement, Licensor desires to grant to Licensee a limited license to use the Licensed Marks in accordance with the terms, and subject to the conditions, set forth herein.

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Licensor and Licensee, intending to be legally bound, hereby agree as follows:

**ARTICLE I** **<br> <u>DEFINITIONS</u>**

Section 1.1 <u>Certain Defined Terms</u>. The following capitalized terms used in this Agreement shall have the meanings set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) "<u>Business</u>" means the "Filtration Business" as defined in the Separation Agreement, as conducted by the Licensee and its Subsidiaries on or after the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) "<u>Disposition Date</u>" means the date on which Cummins ceases to Beneficially Own shares of Filtration capital stock representing, in the aggregate, a majority of the total voting power of the then outstanding Filtration Voting Stock, as defined in the Separation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) "<u>Licensed Marks</u>" means and is limited to the Trademarks listed and referenced in <u>Schedule A</u> attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) "<u>License Territory</u>" means the United States and any other territory around the world where the Licensed Marks were being used by the Business on or before the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) "<u>Trademarks</u>" means trademarks, service marks, trade names, service names, domain names, trade dress, logos and other identifiers of same, including all goodwill associated therewith, and all common law rights, and registrations and applications for registration thereof, all rights therein provided by international treaties or conventions, and all reissues, extensions and renewals of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) "<u>Usage Guidelines</u>" means Licensor's guidelines for use of the Licensed Marks as may be provided and amended from time to time by Licensor in its sole discretion, including Licensor's Brand Standards (http://www. https://brandstandards.cummins.com/).

**ARTICLE II** **<br> <u>LICENSE GRANT</u>**

Section 2.1 <u>Grants</u>. Subject to the terms and conditions of this Agreement, Cummins hereby grants to Filtration a personal, non-exclusive, non-sublicensable (except as set forth herein), non-assignable, royalty-free, fully paid up license, to use the Licensed Marks as such Licensed Marks were used in the Business, as of the Disposition Date, solely during the Term, as defined below, and in the License Territory; <u>provided</u>, <u>however</u>, that Filtration shall use commercially reasonable efforts to cease and discontinue use of the Licensed Marks as soon as practicable after the Disposition Date.

Section 2.2 <u>Sublicensing.</u> The license set forth in Section 2.1 herein shall be sub-licenseable solely to third parties engaged by Filtration to manufacture a product on behalf of Filtration or provide a service to Filtration that is reasonably necessary to support the Business consistent with past practice, but not for independent use by such third parties, and in each case subject to the following: (a) the right to sublicense does not include the right to further sublicense by the sublicensee; and (b) Filtration is responsible for the acts and omissions of each of its sublicensees. Any act or omission of a sublicensee that would be a violation of this Agreement if committed by Filtration will be deemed a violation of this Agreement by Filtration.

**ARTICLE III** **<br> <u>OWNERSHIP AND USE OF LICENSED MARKS</u>**

Section 3.1 <u>Ownership</u>. Filtration acknowledges the validity, and Cummins' exclusive ownership, of the Licensed Marks and agrees that any and all goodwill, rights or interests in the Licensed Marks that might be acquired by the use of the Licensed Marks by Filtration shall inure to the sole benefit of Cummins. If Filtration obtains rights or interests in the Licensed Marks, Filtration hereby transfers, and shall execute upon request by Cummins any additional documents or instruments necessary or desirable to transfer, those rights or interests to Cummins and its Affiliates. Filtration acknowledges and agrees that, as between Cummins and Filtration, Filtration has been extended only a mere permissive right to use the Licensed Marks as provided in this Agreement, which right is not coupled with any ownership interest. Any trademark rights not granted to Filtration in this Agreement are specifically reserved by and for Cummins and its Affiliates.

Section 3.2 <u>Registration and Maintenance</u>. Cummins retains the sole right to protect in its sole discretion the Licensed Marks, including deciding whether and how to file and prosecute applications to register the Licensed Marks, whether to abandon such applications or registrations, and whether to discontinue payment of any maintenance or renewal fees with respect to any such registrations. Cummins will own all right, title and interest in and to any and all registrations and applications for registration of the Licensed Marks, whether filed before or after the Effective Date. Filtration shall supply Cummins with such information as Cummins may reasonably request in order for Cummins to acquire, maintain and renew registrations of the Licensed Marks, to record this Agreement, to enter Filtration as a registered or authorized user of the Licensed Marks or for any purpose reasonably related to Cummins' maintenance and protection of the Licensed Marks (including information concerning sales and other dispositions of products and services that are required in connection with the foregoing). Filtration shall fully cooperate with Cummins' reasonable requests in the execution, filing, and prosecution of any registration of a Trademark relating to the Licensed Marks that Cummins may desire to obtain. For the foregoing purpose, Filtration shall supply to Cummins such samples, labels, letterheads and other similar materials bearing the Licensed Marks as may be reasonably required by Cummins.

Section 3.3 <u>Enforcement</u>. Filtration shall give Cummins notice promptly of any known infringements or other violations of the Licensed Marks of which it becomes aware. Filtration shall render to Cummins full and prompt cooperation for the enforcement and protection of the Licensed Marks. Cummins shall retain all rights to bring all actions and proceedings in connection with infringement or other violations of the Licensed Marks in its sole discretion. If Cummins decides to enforce the Licensed Marks against an infringer, all costs incurred shall be borne by Cummins and any recoveries shall belong to Cummins.

Section 3.4 <u>Restrictions on Use; No Registration</u>. Filtration agrees not to: (a) use or register in any jurisdiction any Trademarks confusingly similar to, or consisting in whole or in part of, any of the Licensed Marks; (b) register any of the Licensed Marks in any jurisdiction, without in each case the express prior written consent of Cummins; or (c) except as permitted in Section 2.1 herein, use any of the Licensed Marks in any trade name, service name, corporate name or designation. Whenever Filtration becomes aware of any instance of confusion between the Licensed Mark and another trademark used by Filtration, Filtration shall use reasonable efforts to take steps to promptly remedy, or avoid such confusion or risk of confusion; provided however that nothing in this sentence shall require Filtration to undertake an investigation into any likelihood of confusion.

**ARTICLE IV** **<br> <u>QUALITY CONTROL</u>**

Section 4.1 <u>Quality Standards</u>. Filtration acknowledges agrees that all use of the Licensed Marks by Filtration hereunder shall be in accordance in all respects with the provisions of this Agreement and shall conform to the same standards of quality associated with the Licensed Marks as observed immediately prior to the Effective Date by Cummins and Filtration, shall conform to the Usage Guidelines, and Filtration shall comply with all applicable Laws (collectively, the "<u>Applicable Standards</u>"). Cummins shall have the right to modify the Usage Guidelines at any time, and shall give Filtration reasonable advance notice to effect any changes required by such modifications.

Section 4.2 <u>Quality Control</u>. Cummins shall have the right to promptly obtain from Filtration, at any time during the Term upon reasonable notice, reasonable information as to the nature and quality of the products and services bearing the Licensed Marks and any advertising, marketing and promotional materials related thereto. Cummins agrees that Filtration will not be in breach of the Applicable Standard if Filtration's use of the Licensed Marks is substantially consistent with how the Licensed Marks were used as of the Disposition Date.

Section 4.3 <u>Compliance</u>. If, at any time, the commercialization, advertising, marketing, promotion, servicing, quality or performance of Licensee's products or services under the Licensed Marks fail, in the reasonable opinion of Cummins, to conform to the Applicable Standards or any other requirements of this Agreement consistent with the use in the Business as of the Disposition Date and Cummins notifies Filtration of such failure, Filtration shall take all necessary steps to bring such products and services into conformance with the Applicable Standards and other requirements of this Agreement consistent with the use in the Business as of the Disposition Date. If Filtration fails to cure any such non-conformity within sixty (60) days of such notice of nonconformity, or fails to notify Cummins of its reasonable attempts to cure or explain any alleged nonconformity, and such cure or explanation is not acceptable to Cummins and Cummins so notifies Filtration, then, without prejudice to Licensor's right to terminate the Agreement pursuant to <u>Article V</u>, Filtration shall promptly suspend commercializing, advertising, marketing, promoting, and servicing such non-conforming products and services or advertising, marketing and promotional materials in connection with the Licensed Marks until such time as any such deficiency has been resolved to the reasonable satisfaction of Cummins. For the avoidance of doubt, any such suspension shall not include advertising or use that Filtration cannot control and suspend after notice by Cummins. The Parties agree to conduct periodic meetings, at a minimum every year from the Disposition Date, to review Filtration's compliance with the Applicable Standards and this Agreement.

**ARTICLE V** **<br> <u>TERM AND TERMINATION</u>**

Section 5.1 <u>Term</u>. Unless sooner terminated pursuant to any provision of this <u>Article V,</u> the term of this Agreement shall commence on the Disposition Date and continue for a period of three (3) years (the "<u>Initial Term</u>"). Upon expiration of the Initial Term, this Agreement will automatically renew for an additional two (2) year period, counted from such expiration, only if Filtration is, at the time of such expiration, using commercially reasonable efforts to transition off from the use of the Licensed Marks, as confirmed in writing to Cummins. The Initial Term and the additional two (2) year period will be the "<u>Term</u>". Notwithstanding the foregoing, the Parties agree that the following uses of the Licensed Marks have a different time period for use of the Licensed Mark, as described in detail below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Filtration will be allowed to continue to use the Licensed Marks in its corporate name and in the corporate name(s) of any subsidiaries or members of the Filtration group, provided that Filtration shall use commercially reasonable efforts to, promptly after the Disposition Date, file to change any corporate name that contains the Licensed Marks for Filtration and any of its subsidiaries or members of the Filtration Group in existence prior to the Disposition Date. Filtration shall cause corporate name changes to be filed for any names using the Licensed Marks for Filtration, any subsidiaries and members of the Filtration Group in existence prior to the Disposition Date within two (2)years from the Disposition Date. Filtration shall cause each other member of the Filtration Group to, change its name and cause its certificate of incorporation and bylaws (or equivalent organizational documents), as applicable, to be amended to remove any reference to any of the Cummins Retained Names or any confusingly similar word or name, as soon as reasonably practical, but in no event no later than two (2) years from the Disposition Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Filtration may continue to use the Licensed Marks in connection with any domain names, social media names, websites or other online, digital uses, in each case consistent with how such Licensed Marks were being used as of or prior to the Disposition Date, provided that the Parties will use reasonable efforts to cooperate in good faith (each Party at its own cost and expense) to implement the migration of web domains and URLs between the Parties, and testing, activating, and deactivating of the same, and to resolve any disruptions to either Party's business or operations arising from such implementation. Use of the Licensed Marks in connection with any domain names, social media names, websites or other online, digital uses shall terminate within [two (2) years] from the Disposition Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Use of the Licensed Marks in interior signage, heavy machinery, vehicles, uniforms, bottle molds, tools and dyes and similar items shall terminate the earlier of (i) the next replacement cycle for such items, in the ordinary course of business, or (ii) within five (5) years from the Disposition Date.

Section 5.3 <u>Material Breach by Filtration</u>. In the event that Filtration breaches this Agreement in any material respect, and Cummins gives Filtration written notice of such breach (which notice shall provide a description of the alleged breach that is reasonable under the circumstances including specifying the relevant section of this Agreement), Filtration shall have ninety (90) days from Filtration's receipt of such notice to remedy such breach and explain to Cummins its reasonable attempts to cure or explain any breach. If such breach is not remedied, or such explanation is not satisfactory to Cummins, within such ninety (90) day period, the Parties agree that the Chief IP Counsel of Cummins and the General Counsel of Filtration will negotiate in good faith a mutually agreed solution to address such breach by Filtration, such solution to be agreed to within ten (10) days from the end of such ninety (90) day period. If the Chief IP Counsel of Cummins and the General Counsel of Filtration cannot agree within such ten (10) day period, then Cummins shall have the right to terminate this Agreement, in whole or in part, at any time thereafter by giving Filtration written notice of such termination, <u>provided</u>, <u>however</u>, that such termination will, for the avoidance of doubt, be subject to <u>Section 7.15</u>.

Section 5.5 <u>Effect of Termination or Expiration</u>. Upon any expiration or termination of this Agreement, Filtration shall cease and completely discontinue use of the Licensed Marks and all licenses granted to Filtration herein shall immediately terminate. Filtration shall not be deemed to have violated any obligation to cease use of or not to use the Licensed Marks, even after term of this Agreement, by reason of the use of any Licensed Marks in a non-trademark manner for purposes of conveying to customers or the general public that the Business is no longer affiliated with Cummins or to reference historical details concerning or make historical reference to the Business.

**ARTICLE VI** **<br> <u>WARRANTIES AND COMPLIANCE</u>**

Section 6.1 <u>Disclaimer of Warranties</u>. Except as expressly set forth herein, the Parties acknowledge and agree that: (a) the Licensed Marks are provided as-is, where-is and with all faults; (b) each Party assumes all risks and Liability arising from or relating to its use of and reliance upon the Licensed Marks; and (c) each Party makes no representation or warranty with respect thereto. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR THE SEPARATION AGREEMENT, EACH PARTY HEREBY EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE Licensed MARKS, WHETHER EXPRESS OR IMPLIED, INCLUDING ANY REPRESENTATION OR WARRANTY IN REGARD TO NONINFRINGEMENT, MISAPPROPRIATION, COMMERCIAL UTILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

Section 6.2 <u>Compliance with Laws and Regulations</u>. Each Party shall be responsible for its own compliance with any and all Laws applicable to its performance under this Agreement.

**ARTICLE VII** **<br> <u>MISCELLANEOUS PROVISIONS</u>**

Section 7.1 <u>Entire Agreement; Construction</u>. This Agreement, including the Schedules hereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event of any inconsistency between this Agreement and any Schedule hereto, the Schedule shall prevail.

Section 7.2 <u>Counterparts</u>. This Agreement may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties.

Section 7.3 <u>Notices</u>. All notices, requests, claims, demands and other communications under this Agreement shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, or by facsimile or electronic mail with receipt confirmed (followed by delivery of an original via overnight courier service) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this <u>Section 7.3</u>):

To Cummins:

Cummins Inc.

500 Jackson Street,

Box 3005

Columbus, Indiana 47202-3005

Attn: General Counsel

Facsimile: [●]

Email: [●]

To Atmus Filtration Technologies Inc.:

Atmus Filtration Technologies Inc.

Toni Y. Hickey

26 Century Blvd.

Attn: General Counsel

Facsimile: [●]

Email: [●]

Section 7.4 <u>Consents</u>. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party. For this purpose, a Party may provide its written consent in the form of an email that expressly sets forth such consent and is delivered by the General Counsel of the Party giving such consent to the General Counsel of the Party requesting such consent.

Section 7.5 <u>No Waiver</u>. No failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or privilege hereunder shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

Section 7.6 <u>Assignment</u>. This Agreement shall not be assignable, in whole or in part, directly or indirectly, by any Party hereto without the prior written consent of the other Party, and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding the foregoing, Cummins may assign this Agreement to an Affiliate without the prior written consent of Filtration.

Section 7.7 <u>Successors and Assigns</u>. The provisions of this Agreement and the obligations and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted assigns.

Section 7.8 <u>Subsidiaries</u>. Each of the Parties shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party at and after the Effective Date, to the extent such Subsidiary remains a Subsidiary of the applicable Party.

Section 7.9 <u>Third Party Beneficiaries</u>. This Agreement is solely for the benefit of the Parties and should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement.

Section 7.10 <u>Titles and Headings</u>. Titles and headings to sections herein are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

Section 7.11 <u>Schedules</u>. The Schedules shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein.

Section 7.12 <u>Governing Law</u>. This Agreement and any dispute arising out of, in connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof.

Section 7.13 <u>Submission to Jurisdiction</u>. With respect to any Action relating to or arising out of this Agreement, subject to the provisions of Article VIII of the Separation Agreement, each Party irrevocably (a) consents and submits to the exclusive jurisdiction of the courts of the State of Delaware and any court of the United States located in the State of Delaware; (b) waives any objection which such Party may have at any time to the laying of venue of any Action brought in any such court, waives any claim that such Action has been brought in an inconvenient forum and further waives the right to object, with respect to such Action, that such court does not have jurisdiction over such Party; and (c) consents to the service of process at the address set forth for notices in <u>Section 7.13</u>; <u>provided</u>, <u>however</u>, that such manner of service of process shall not preclude the service of process in any other manner permitted under applicable Law.

Section 7.14 <u>Waiver of Jury Trial</u>. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 7.14</u>.

Section 7.15 <u>Dispute Resolution</u>. The provisions of Article VIII of the Separation Agreement shall govern any Dispute under or in connection with this Agreement.

Section 7.16 <u>Severability</u>. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

Section 7.17 <u>Interpretation</u>. The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted. Unless the context otherwise requires: (a) references in this Agreement to any gender include references to all genders, and references to the singular include references to the plural and vice versa; (b) the words "include", "includes" and "including" when used in this Agreement shall be deemed to be followed by the phrase "without limitation"; (c) references in this Agreement to Articles, Sections and Schedules shall be deemed references to Articles and Sections of, and Schedules to, this Agreement; (d) the words "hereof", "hereby" and "herein" and words of similar meaning when used in this Agreement refer to this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement; (e) references in this Agreement or any Schedule to "$" shall mean United States dollars; (f) the word "or" when used in this Agreement shall not be exclusive; (g) references in this Agreement to "days" means calendar days unless Business Days are expressly specified; (h) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and, if the last day of such period is not a Business Day, then the period shall end on the next succeeding Business Day; and (i) references in this Agreement to any Person includes such Person's permitted successors and permitted assigns.

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their respective duly authorized representatives as of the date first written above.

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| CUMMINS INC. |
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| Name: |
| Title: |
| Atmus Filtration Technologies Inc. |
| By: |
| Name: |
| Title: |

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## Exhibit 10.9

**Exhibit 10.9**

**intellectual property LICENSE AGREEMENT**

This INTELLECTUAL PROPERTY LICENSE AGREEMENT (this "<u>Agreement</u>"), dated as of [●], 2023 (the "<u>Effective Date</u>"), is entered into by and between Cummins Inc. ("<u>Cummins</u>"), an Indiana corporation, and Atmus Filtration Technologies Inc., a Delaware corporation ("<u>Filtration</u>"). "<u>Party</u>" or "<u>Parties</u>" means Cummins or Filtration, individually or collectively, as the case may be. Capitalized terms not defined in the context of which such terms are first used in this Agreement shall have the meanings assigned to such terms in <u>Section 1.1</u> or, if not assigned a meaning in <u>Section 1.1</u>, the meanings assigned to such terms in the Separation Agreement (as defined below).

W I T N E S E T H:

WHEREAS, the Parties have entered into that certain Master Separation Agreement, dated as of [●], 2023 (the "<u>Separation Agreement</u>");

WHEREAS, Cummins and Filtration each own or have the right to use certain Intellectual Property; and

WHEREAS, this Agreement sets forth the terms and conditions on which the Parties have agreed to license certain Intellectual Property (other than trademarks and other source indicators) to each other for use in connection with each other's business.

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows:

**Article I** **<u><br> DEFINITIONS</u>**

Section 1.1 <u>Certain Defined Terms</u>. The following capitalized terms used in this Agreement shall have the meanings set forth below:

"<u>Affiliate</u>" means, when used with respect to a specified Person and at a point in, or with respect to a period of, time, a Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with, such specified Person at such point in, or during such period of, time. For the purposes of this definition, "control", when used with respect to any specified Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or other interests, by Contract or otherwise. The joint ventures set forth on Schedule C will also be considered Affiliates of Cummins and Filtration as designated thereunder. It is expressly agreed that (i) no member of the Filtration Group shall be deemed an Affiliate of any member of the Cummins Group and (ii) no member of the Cummins Group shall be deemed an Affiliate of any member of the Filtration Group.

"<u>Cummins Licensed IP</u>" means the Cummins Licensed Know-How and the Cummins Licensed Patents.

"<u>Cummins Licensed Know-How</u>" means all Know-How owned by Cummins or one of its Affiliates (but only if the Affiliate was an Affiliate as of the Disposition Date) as of the Disposition Date that was used in a product or service in development, sold, or offered for sale, by the Filtration Business as of or during the twelve (12) months prior to the Disposition Date.

"<u>Cummins Licensed Patents</u>" means the Patents set forth on Schedule A.

"<u>Cummins Licensed Product</u>" means a product or service that used Filtration Licensed IP and was in development, sold, or offered for sale, by the Cummins Retained Business as of or during the twelve (12) months prior to the Disposition Date, but not including: products or services provided by Filtration to Cummins.

"<u>Filtration Licensed IP</u>" means the Filtration Licensed Know-How and the Filtration Licensed Patents.

"<u>Filtration Licensed Know-How</u>" means all Know-How owned by Filtration or one of its Affiliates (but only if the Affiliate was an Affiliate as of the Disposition Date) as of the Disposition Date that was used in a product or service in development, sold, or offered for sale, by the Cummins Retained Business as of or during the twelve (12) months prior to the Disposition Date, but not including: products or services provided by Filtration to Cummins.

"<u>Filtration Licensed Patents</u>" means the Patents set forth on Schedule B.

"<u>Filtration Licensed Product</u>" means a Filtration product or service that used Cummins Licensed IP and was in development, sold, or offered for sale, by the Filtration Business as of or during the twelve (12) months prior to the Disposition Date.

"<u>Intellectual Property</u>" means all United States and international: (i) patents and patent applications, and any and all related national or international counterparts thereto, including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions thereof (collectively, "<u>Patents</u>"); (ii) copyrights and copyrightable subject matter, excluding Know-How; (iii) trade secrets, and all other confidential or proprietary information, know-how, inventions, processes, formulae, models, and methodologies, excluding Patents (collectively, "<u>Know-How</u>"); (iv) all applications and registrations for any of the foregoing; and (v) all rights and remedies against past, present and future infringement, misappropriation or other violation of any of the foregoing. For clarity, "<u>Intellectual Property</u>" does not include trademarks, trade dress, service marks, certification marks, logos, slogans, design rights, names, corporate names, trade names, Internet domain names, social media accounts and addresses and other similar designations of source or origin.

"<u>Licensed IP</u>" means, collectively, Cummins Licensed IP and Filtration Licensed IP.

"<u>Licensed Product</u>" means, with respect to Filtration, a Filtration Licensed Product and, with respect to Cummins, a Cummins Licensed Product.

"<u>Licensee</u>" means the Party which receives a license to Licensed IP under this Agreement.

"<u>Licensee Permitted Business</u>" means, with respect to Filtration, the Filtration Business and, with respect to Cummins, the Cummins Retained Business.

"<u>Licensor</u>" means the Party which grants a license to Licensed IP under this Agreement.

"<u>Term</u>" shall have the meaning set forth in Section 4.1.

**Article II** **<u><br> LICENSE GRANTS</u>**

Section 2.1 <u>License to Filtration</u>. Subject to the terms and conditions of this Agreement, Cummins, on behalf of itself and its Affiliates (excluding Cummins' joint ventures as listed on Schedule C hereto) that are Affiliates as of the Disposition Date, hereby grants to Filtration a worldwide, non-exclusive, non-transferable (except as provided in Section 6.2), royalty-free, fully paid-up, perpetual (except as provided in Section 4.2) and irrevocable license to use, modify, enhance and improve, and exercise all rights under, the Cummins Licensed IP only for use in Filtration Licensed Products (and any natural extensions thereof) in the Filtration Business (and any natural extensions thereof).

Section 2.2 <u>License to Cummins</u>. Subject to the terms and conditions of this Agreement, Filtration, on behalf of itself and its Affiliates (excluding Filtration's joint ventures as listed on Schedule C hereto) that are Affiliates as of the Disposition Date, hereby grants to Cummins a worldwide, non-exclusive, non-transferable (except as provided in Section 6.2), royalty-free, fully paid-up, perpetual (except as provided in Section 4.2) and irrevocable license to use, modify, enhance and improve, and exercise all rights under, the Filtration Licensed IP only for use in Cummins Licensed Products (and any natural extensions thereof) in the Cummins Retained Business (and any natural extensions thereof), and only as permitted under Section 4.2 (*Restriction on Certain Competition*) of the Separation Agreement.

Section 2.3 <u>Sublicensing</u>. The licenses set forth in Sections 2.1 and 2.2 herein shall be sublicenseable solely to: (i) a Licensee Affiliate (but only for so long as such Person remains an Affiliate of Licensee); and (ii) a third party engaged by Licensee to manufacture or service a Licensed Product on behalf of Licensee, but not for independent use by such third parties; and in each case subject to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The right to sublicense does not include the right to further sublicense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Licensee is responsible for the acts and omissions of each of its sublicensees. Any act or omission of a sublicensee that would be a violation of this Agreement if committed by Licensee will be deemed a violation of this Agreement by Licensee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A sublicense with respect to any particular Licensed IP terminates automatically upon termination of the license with respect to such Licensed IP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Any sublicense sought to be granted by a Licensee under the Licensed IP that is not strictly in accordance with the foregoing conditions requires the advance written consent of Licensor. Any sublicense purported to be granted not strictly in accordance with the foregoing conditions and without written consent of Licensor is null, void and of no effect.

Section 2.4 <u>Additional Licensed Patents</u>. The Parties shall review and negotiate in good faith a possible addition to Schedule A or B if a Licensee believes that a Patent of the Licensor not listed in the Schedule was used in a product or service in development, sold, or offered for sale, by the Licensee Permitted Business as of or during the twelve (12) months prior to the Disposition Date.

Section 2.5 <u>No Improvements or Services</u>. Neither Party has any obligations under this Agreement with respect to delivery, training, registration, maintenance, policing, support, notification of infringements or otherwise with respect to the Licensed IP.

Section 2.6 <u>Licenses from Affiliates</u>. Should any license purported to be granted on behalf of an Affiliate under Sections 2.1 or 2.2 be found to be unenforceable, the applicable Licensor shall cause such Affiliate to grant a license of the same scope to Licensee and its Affiliates. For the avoidance of doubt, nothing under this Agreement shall be construed as either Parties' respective joint ventures as listed on Schedule C hereto (as the same may be updated from time to time) granting a license or any other right to the other Party, and the Parties hereby agree that their respective joint venture shall only have rights as a licensee to the other Party's Licensed IP as the same may be sublicensed in accordance with Section 2.3 hereunder. The Parties agree that Schedule C is deemed exhaustive, however the Parties shall review and negotiate in good faith a possible addition to the definition of "Affiliates" hereunder to add any additional joint ventures that should also be considered Affiliates of Cummins or Filtration.

Section 2.7 <u>Reserved Rights</u>. All Intellectual Property rights in and to the Licensed IP are, as between the Parties, owned exclusively by Licensor and no ownership therein is transferred to Licensee under this Agreement. Except as expressly set forth herein, no additional license, grant or working right is granted or implied by this Agreement.

**Article III** **<u><br> INTELLECTUAL PROPERTY RIGHTS</u>**

Section 3.1 <u>Cummins Ownership</u>. The Parties acknowledge and agree that, as between the Parties, Cummins is the owner of all right, title and interest in the Cummins Licensed IP. For the avoidance of doubt, Cummins shall have the sole right to prosecute, defend and enforce any and all Intellectual Property rights covering the Cummins Licensed IP.

Section 3.2 <u>Filtration Ownership</u>. The Parties acknowledge and agree that, as between the Parties, Filtration is the owner of all right, title and interest in the Filtration Licensed IP. For the avoidance of doubt, Filtration shall have the sole right to prosecute, defend and enforce any and all Intellectual Property rights covering the Filtration Licensed IP.

Section 3.3 <u>Recording</u>. Upon Licensee's request, and solely if required by applicable Law, Licensor shall record, or assist with the recording of, this Agreement with any appropriate Governmental Entity.

Section 3.4 <u>No Challenge</u>. Licensee agrees that it will not do anything inconsistent with Licensor's ownership of the Licensed IP and shall not claim adversely to Licensor, or assist any third party in attempting to claim adversely to Licensor, with regards to such ownership. Licensee agrees that it will not challenge, in any country or jurisdiction, Licensor's title to or ownership of the Licensed IP or any rights therein, challenge any issuances or application of any Licensed IP or challenge the validity of the Licensed IP, this Agreement or the license granted herein. However, notwithstanding the above, Licensee shall be free to challenge Licensor's title to or ownership of the Licensed IP or in any rights therein in the event of any infringement dispute or contractual dispute, in each case, regarding the scope of Licensee's rights as between Licensor and Licensee.

**Article IV** **<u><br> TERMINATION</u>**

Section 4.1 <u>Term</u>. This Agreement shall remain in effect from the Effective Date and in perpetuity ("<u>Term"</u>).

Section 4.2 <u>Expiration of IP</u>. This Agreement will immediately terminate for any particular Licensed IP when no enforceable rights in such Licensed IP remain. This Agreement will immediately terminate in its entirety when no enforceable rights in any Licensed IP remain.

Section 4.3 <u>No Termination by Licensor</u>. This Agreement is not terminable by Licensor for any reason, provided that the foregoing shall not prevent Licensor from exercising all other rights that Licensor may have, at law or in equity, in the event of Licensee's breach of this Agreement, including the right to sue and collect damages.

**Article V** **<u><br> WARRANTIES AND COMPLIANCE</u>**

Section 5.1 <u>Disclaimer of Warranties</u>. Except as expressly set forth herein or in the Separation Agreement, the Parties acknowledge and agree that: (i) the Licensed IP is provided as-is, where-is and with all faults; (ii) each Party assumes all risks and Liability arising from or relating to its use of and reliance upon the Licensed IP; and (iii) each Party makes no representation or warranty with respect thereto. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR IN THE SEPARATION AGREEMENT, EACH PARTY AND ITS RESPECTIVE GROUP HEREBY EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE Licensed IP, AS APPLICABLE, WHETHER EXPRESS OR IMPLIED, INCLUDING ANY REPRESENTATION OR WARRANTY IN REGARD TO QUALITY, PERFORMANCE, NON-INFRINGEMENT, MISAPPROPRIATION, COMMERCIAL UTILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

Section 5.2 <u>Compliance with Laws and Regulations</u>. Each Party and its respective Group shall be responsible for its own compliance with any and all Laws applicable to its performance under this Agreement.

**Article VI** **<u><br> GENERAL PROVISIONS</u>**

Section 6.1 <u>Entire Agreement; Construction</u>. This Agreement, including the Schedules hereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. No provision of the Separation Agreement or any Ancillary Agreement shall be used to modify or interpret any provision of this Agreement (except for any defined terms used herein and the text made a part of this Agreement by the operation of Section 6.5).

Section 6.2 <u>Assignment</u>. Neither Party may assign or transfer its rights or duties under this Agreement, including by operation of law, except that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A Party may assign this Agreement, in
 whole or in part, to an Affiliate without the prior written consent of the other Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Party in its capacity as Licensor shall
 assign this Agreement (in whole or in part, as applicable) to any third party acquiror in
 connection with the assignment or other disposition to such third party acquiror of all or
 any portion of the Licensed IP owned by such Licensor or its Affiliates, and this Agreement
 will inure to the benefit of and be binding on any assignees of such Licensed IP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A Party in its capacity as Licensee may
 assign (in whole or in part, as applicable) any license granted to such Licensee hereunder
 in connection with a merger, consolidation, or sale of all, or substantially all, of any
 of the businesses of Licensee or any of its Affiliates licensed under this Agreement, or
 any material portion of the assets of Licensee or any of its Affiliates licensed under this
 Agreement, if the transaction involves Licensed Products (and any natural extensions thereof);
 provided that the license granted herein shall not extend to any business lines or assets
 of the acquiror.

Any attempted assignment or transfer in violation of this Section 6.2 is null, void, and of no effect.

Section 6.3 <u>Third Party Beneficiaries</u>. This Agreement is solely for the benefit of the Parties and should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement.

Section 6.4 <u>Dispute Resolution</u>. The provisions of Article VIII of the Separation Agreement shall govern any Dispute under or in connection with this Agreement.

Section 6.5 <u>Separation Agreement Provisions</u>. The following provisions of the Separation Agreement are incorporated into this Agreement, *mutatis mutandis*, by this reference: Sections 10.3, 10.6, 10.7, 10.9, 10.14, 10.16-10.19, 10.21, and 10.24. Sections 5.2-5.9 and 6.5 of the Separation Agreement shall continue to apply to this Agreement as set forth therein.

Section 6.6 <u>Bankruptcy</u>. The Parties agree that the rights granted under this Agreement are, for all purposes of Section 365(n) of Title 11 of the United States Code ("<u>Title 11</u>"), licenses of rights to "intellectual property" as defined in Title 11. Each Party agrees that, in the event of the commencement of bankruptcy proceedings by or against a Licensor or its Affiliates under Title 11, Licensee shall retain and may fully exercise all of its rights under this Agreement (including the license granted hereunder) and all of its and their rights and elections under Title 11.

[Signature page follows]

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the Effective Date by their respective duly authorized officers.

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| |
|:---|
| CUMMINS INC. |
| By: |
| Name: |
| Title: |
| ATMUS FILTRATION TECHNOLOGIES INC. |
| By: |
| Name: |
| Title: |

---

*[Signature Page to Intellectual Property License Agreement]*

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the use in this Registration Statement on Form S-1 of Atmus Filtration Technologies Inc. of our report dated February 21, 2023 relating to the financial statements of Atmus, a business of Cummins Inc., which appears in this Registration Statement. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

**/s/ PricewaterhouseCoopers LLP**<br> Indianapolis, Indiana<br> February 21, 2023

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form S-1**<br> (Form Type)

**Atmus Filtration Technologies Inc.**<br> (Exact Name of Registrant as Specified in its Charter)

**<u>Table 1: Newly Registered Securities</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Security Type** | &nbsp;&nbsp;**Security<br> Class<br> Title** | &nbsp;&nbsp;**Fee<br> Calculation<br> Rule** | &nbsp;&nbsp;**Maximum<br> Aggregate<br> Offering Price** | &nbsp;&nbsp;**Fee Rate** | &nbsp;&nbsp;**Amount of<br> Registration<br> Fee** |
| &nbsp;&nbsp;**Fees to Be Paid** | &nbsp;&nbsp;Equity | &nbsp;&nbsp;Common Stock, $0.001 par value per share | &nbsp;&nbsp;457(o)&nbsp;&nbsp;**<sup>(1)</sup>**&nbsp;&nbsp;**<sup>-(1))-</sup>** | &nbsp;&nbsp;**$100000000.00)<sup>(2)</sup>** | &nbsp;&nbsp;0.00011020 | &nbsp;&nbsp;$11020.00 |
|  | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**$100000000.00** |  | &nbsp;&nbsp;**$11020.00** |
|  | &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** |  |  | &nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** |  |  | &nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** |  |  | &nbsp;&nbsp;**$11020.00** |

---

(1) Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"), the shares of common stock being registered hereunder include such indeterminate number of shares of common stock as may be issuable by the registrant with respect to the shares being registered hereunder as a result of stock splits, stock dividends or similar transactions.

(2) The proposed maximum aggregate offering price has been estimated solely to calculate the registration fee in accordance with Rule 457(o) under the Securities Act.