Document:

Trane Inc. Stock Incentive Plan

 Exhibit 10.18 
 TRANE INC. 
 STOCK INCENTIVE PLAN 
 (Restated to include all amendments through July 1, 2009) 
 SECTION 1.

 PURPOSE 
 The purpose of the
Plan is to foster and promote the long-term financial success of the Company and materially increase shareholder value by (a) motivating superior performance by means of performance-related incentives, (b) encouraging and
providing for the acquisition of an ownership interest in the Company by Employees, and (c) enabling the Company to attract and retain the services of an outstanding management team upon whose judgment, interest and special effort the
successful conduct of its operations is largely dependent. 
 SECTION 2. 
 DEFINITIONS 
 2.1 Definitions. Whenever used herein, the following terms shall
have the respective meanings et forth below: 
 (a) “Act” means the Securities Exchange Act of 1934, as amended.

 (b) “Adjustment Event” shall mean any stock dividend, stock split or share combination of, or extraordinary cash
dividend on, the Common Stock or recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, exchange of shares, warrants or rights offering to purchase Common Stock at a price substantially below Fair Market Value, or
other similar event affecting the Common Stock of the Company. 
 (c) “Board” means the Board of Directors of the
Company. 
 (d) “Cause” means a Participant’s (i) willful and continued failure substantially to perform
his duties with the Company or any Subsidiary (other than any such failure resulting from incapacity due to reasonably documented physical or mental illness), after 

 
a demand for substantial performance is delivered to such Participant by the Chairman of the Board or any executive officer which specifically identifies the
manner in which it is believed that such Participant has not substantially performed his duties, or (ii) the willful engaging by such Participant in illegal misconduct materially and demonstrably injurious to the Company or any Subsidiary or to
the trustworthiness or effectiveness of such Participant in the performance of his duties. For purposes hereof, no act, or failure to act, on such Participant’s part shall be considered “willful” unless done, or omitted to be done, by
him not in good faith and without reasonable belief that his action or omission was in the best interest of the Company or a Subsidiary. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or
based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by such Participant in good faith and in the best interest of the Company or such Subsidiary. 
 (e) “Change of Control” shall mean the occurrence of any of the following events: 
 (i) any person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 15% or more of the
combined voting power of the Company’s then-outstanding securities (a “15% Beneficial Owner”); provided, however, that (a) the term “15% Beneficial Owner” shall not include any Beneficial Owner who has
crossed such 15% threshold solely as a result of an acquisition of securities directly from the Company, or solely as a result of an acquisition by the Company of Company securities, until such time thereafter as such person acquires additional
voting securities other than directly from the Company and, after giving effect to such acquisition, such person would constitute a 15% Beneficial Owner; and (b) with respect to any person eligible to file a Schedule 13G pursuant to Rule
13d-1(b)(1) under the Act with respect to Company securities (an “Institutional Investor”), there shall be excluded from the number of securities deemed to be beneficially owned by such person a number of securities representing not more
than 10% of the combined voting power of the Company’s then-outstanding securities; 
 (ii) during any period of two
consecutive years beginning after December 1, 1996, individuals who at the beginning of such period constitute the Board together with those individuals who first become directors during such 

  

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period (other than by reason of an agreement with the Company or the Board in settlement of a proxy contest for the election of directors) and whose election
or nomination for election to the Board was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so
approved (the “Continuing Directors”), cease for any reason to constitute a majority of the Board; 
 (iii) the
shareholders of the Company approve a merger, consolidation, recapitalization or reorganization of the Company, or a reverse stock split of any class of voting securities of the Company, or the consummation of any such transaction if shareholder
approval is not obtained, other than such transaction which would result in at least 75% of the total voting power represented by the voting securities of the Company or the surviving entity outstanding immediately after such transaction being
beneficially owned by persons who together owned at least 75% of the combined voting power of the voting securities of the Company outstanding immediately prior to such transaction, with the relative voting power of each such continuing holder
compared to the voting power of each other continuing holder not substantially altered as a result of the transaction; provided that, for purposes of this paragraph (iii), (a) such continuity of ownership (and preservation of
relative voting power) shall be deemed to be satisfied if the failure to meet such 75% threshold (or to preserve such relative voting power) is due solely to the acquisition of voting securities by an employee benefit plan of the Company or of such
surviving entity or of any subsidiary of the Company or such surviving entity and (b) voting securities beneficially owned by such persons who receive them other than as holders of voting securities of the Company outstanding immediately prior
to such transaction shall not be taken into account for purposes of determining whether such 75% threshold (or such relative voting power) is satisfied; 
 (iv) the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or an agreement for the sale or disposition of all or substantially all the assets of the Company unless
following the completion of such liquidation or dissolution, or such sale or disposition, the 75% threshold (and relative voting power) requirements set forth in sub-paragraph (iii) above are satisfied; or 
  

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 (v) any other event which the Committee determines shall constitute a Change of Control
for purposes of this Plan; 
 provided, however, that a Change of Control shall not be deemed to have occurred if one of the following
exceptions applies: 
  

	 	(1)	Unless a majority of the Continuing Directors and of the Committee determine that the exception set forth in this paragraph (1) shall not apply, none of the foregoing
conditions would have been satisfied but for one or more of the following persons acquiring or otherwise becoming the Beneficial Owner of securities of the Company: (A) any person who has entered into a binding agreement with the Company, which
agreement has been approved by two-thirds of the Continuing Directors, limiting the acquisition of additional voting securities by such person, the solicitation of proxies by such person or proposals by such person concerning a business combination
with the Company (a “Standstill Agreement”); (B) any employee benefit plan, or trustee or other fiduciary thereof, maintained by the Company or any Subsidiary; (C) any Subsidiary; or (D) the Company.

  

	 	(2)	Unless a majority of the Continuing Directors and of the Committee determine that the exception set forth in this paragraph (2) shall not apply, none of the foregoing
conditions would have been satisfied but for the acquisition by or of the Company of or by another entity (whether by the merger or consolidation, the acquisition of stock or assets, or otherwise) in exchange, in whole or in part, for securities of
the Company, provided that, immediately following such acquisition, the Continuing Directors constitute a majority of the Board, or a majority of the board of directors of any other surviving entity, and, in either case, no agreement, arrangement or
understanding exists at that time which would cause such Continuing Directors to cease thereafter to constitute a majority of the Board or of such other board of directors. 

  

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 Notwithstanding the foregoing, unless otherwise determined by a majority of the Continuing Directors, no
Change of Control shall be deemed to have occurred with respect to a particular Participant if the Change of Control results from actions or events in which such Participant is involved in a capacity other than solely as an officer, employee or
director of the Company. 
 For purposes of the foregoing definition of Change of Control, the term “Beneficial Owner,” with
respect to any securities, shall mean any person who, directly or indirectly, has or shares the right to vote or dispose of such securities or otherwise has “beneficial ownership” of such securities (within the meaning of Rule 13d-3 and
Rule 13d-5 (as such Rules are in effect on December 1, 1996) under the Act), including pursuant to any agreement, arrangement or understanding (whether or not in writing); provided, however, that (i) a person shall not be
deemed the Beneficial Owner of any security as a result of any agreement, arrangement or understanding to vote such security (A) arising solely from a revocable proxy or consent solicited pursuant to, and in accordance with, the applicable
provisions of the Act and the rules and regulations thereunder or (B) made in connection with, or otherwise to participate in, a proxy or consent solicitation made, or to be made, pursuant to, and in accordance with, the applicable provisions
of the Act and the rules and regulations thereunder, in either case described in clause (A) or clause (B) above whether or not such agreement, arrangement or understanding is also then reportable by such person on Schedule 13D under the
Act (or any comparable or successor report), and (ii) a person engaged in business as an underwriter of securities shall not be deemed to be the Beneficial Owner of any securities acquired through such person’s participation in good faith
in a firm commitment underwriting until the expiration of forty days after the date of such acquisition. 
 Effective June 5, 2008,
Change of Control shall have the meaning set forth in the Ingersoll-Rand Company Limited Incentive Stock Plan of 2007 or any successor thereto. 
 (f) “Change of Control Settlement Value” shall mean, with respect to a share of Common Stock, the excess of the Change of Control Stock Value over the option price of the Option covering such share of Common
Stock, provided that, (i) with respect to any Option which is an Incentive Stock Option immediately prior to the election to receive the Change of Control Settlement Value, the Change of Control Settlement Value shall not exceed
the maximum amount permitted for such Option to continue to qualify as an Incentive Stock Option and (ii) in respect of that portion, if any, of any 

  

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Option that had not become exercisable on or before December 31, 2004, the Change of Control Settlement Value shall not exceed the maximum amount
permitted for such Option to remain exempt from Section 409A. 
 (g) “Change of Control Stock Value” shall mean
the value of a share of Common Stock determined as follows: 
 (i) if the Change of Control results from an event described in
clause (iii) of the Change of Control definition, the highest per share price paid for shares of Common Stock of the Company in the transaction resulting in the Change of Control; 
 (ii) if the Change of Control results from an event described in clauses (i), (ii) or (v) of the Change of Control definition
and no event described in clauses (iii) or (iv) of the Change of Control definition has occurred in connection with such Change of Control, the highest sale price of a share of Common Stock of the Company on any trading day during the 60
consecutive trading days immediately preceding and following the date of such Change of Control as reported on the New York Stock Exchange Composite Tape, or other national securities exchange on which the Common Stock is traded, and published in
The Wall Street Journal; or 
 (iii) if the Change of Control results from an event described in clause (iv) of
the Change of Control definition, the price per share at which shares of Common Stock are redeemed or exchanged by their holders in the transaction described in such clause (iv) or, if there has been no such redemption or exchange, the higher
of the amounts determined in accordance with clause (i) or clause (ii) of this Change of Control Stock Value definition. 
 (h) “Code” means the Internal Revenue Code of 1986, as amended. 
 (i) “Committee” means the
Management Development and Nominating Committee of the Board (or such other committee of the Board that the Board shall designate), which shall consist of two or more members, each of whom shall be a non-employee director within the meaning of Rule
16b-3, as promulgated under the Act and serving at the pleasure of the Board. Effective June 5, 2008, Committee means the Compensation Committee of the Board (or such other committee of the Board that the 

  

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Board shall designate), which shall consist of two or more members, each of whom shall be a non-employee director within the meaning of Rule 16b-3, as
promulgated under the Act and serving at the pleasure of the Board. Notwithstanding the foregoing, with respect to Incentive Awards granted to non-employee directors, the Committee shall mean the entire Board. 
 (j) “Common Stock” means the common stock of the Company, par value $0.01 per share. Effective June 5, 2008, “Common
Stock” shall mean the common stock of the Company, par value $1.00 per share. Effective July 1, 2009, “Common Stock” shall mean the ordinary shares of the Company, par value $1.00 per share. 
 (k) “Company” means Trane Inc., a Delaware corporation, and any successor thereto. Effective June 5, 2008,
“Company” means Ingersoll-Rand Company Limited, a Bermuda company. Effective July 1, 2009, “Company” means Ingersoll-Rand plc, an Irish company and any successor thereto. 
 (l) “Disability” means a Participant’s inability, due to reasonably documented physical or mental illness, for more than
six months to perform his duties with the Company or a Subsidiary on a full time basis if, within 30 days after written notice of termination has been given to such Participant, he shall not have returned to the full time performance of his duties.

 (m) “Dividend Equivalents” means an amount equal to the cash dividends paid by the Company upon one share of
Common Stock for each Restricted Unit awarded to a Participant in accordance with Section 7 of the Plan. 
 (n)
“Employee” means any officer or other key employee of the Company or any of its Subsidiaries, including any employee of a minority-owned joint venture. 
 (o) “Fair Market Value” means, on any date, the average of the highest and lowest sales price reported for such day on a
national exchange or the average of the highest and lowest bid and asked prices on such date as reported on a nationally recognized system of price quotation. In the event that there are no Common Stock transactions reported on such exchange or
system on such date, Fair Market Value shall mean the closing price on the immediately preceding date on which Common Stock transactions were so reported. 
  

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 (p) “Incentive Award” means the award of an Option, a Stock Appreciation Right,
a Restricted Unit, or Restricted Stock under the Plan and shall also include an award of Common Stock or Restricted Units made in conjunction with other incentive programs established by the Company. 
 (q) “Option” means the right to purchase Common Stock at a stated price for a specified period of time. For purposes of the
Plan, an Option may be either (i) an “Incentive Stock Option” with the meaning of Section 422 of the Code or (ii) an Option which is not an Incentive Stock Option (a “Non-Qualified Stock Option”).

 (r) “Participant” means any Employee or any non-employee director of the Company designated by the Committee to
receive an Incentive Award under the Plan. 
 (s) “Plan” means the Trane Inc. Stock Incentive Plan, as set forth
herein and as the same may be amended from time to time. 
 (t) “Public Offering” means the Company’s offering
of Common Stock to the general public through a registration statement filed with the Securities and Exchange Commission that covers (together with prior effective registrations) not less than 15% of the shares of Common Stock outstanding at the
closing of such offering on a fully diluted basis. 
 (u) “Restricted Period” means the period during which
Restricted Units or shares of Restricted Stock are subject to forfeiture or restrictions on transfer (if applicable) pursuant to Section 7 of the Plan. 
 (v) “Restricted Stock” means Common Stock awarded to a Participant pursuant to the Plan which is subject to forfeiture and
restrictions on transferability in accordance with Section 7 of the Plan. 
 (w) “Restricted Unit” means a
Participant’s right to receive pursuant to the Plan one share of Common Stock at the end of a specified period of time, which right is subject to forfeiture in accordance with Section 7 of the Plan. 
 (x) “Retirement” means 
 (i) with respect to Incentive Awards granted before December 7, 2000, termination of a Participant’s employment on or after the date the Participant attains age 55 with 10 years of service; 
  

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 (ii) with respect to Incentive Awards granted on or after December 7, 2000,
termination of a Participant’s employment on or after the date the Participant attains age 55 with 5 years of service. 
 (y) “Stock Appreciation Right” means the right to receive a payment from the Company, in cash or Common Stock, in an amount determined under Section 6.12 of the Plan. 
 (z) “Subsidiary” means any corporation or partnership in which the Company owns, directly or indirectly, 50% or more of the
total combined voting power of all classes of stock of such corporation or of the capital interest or profits interest of such partnership. 
 2.2. Gender and Number. Except when otherwise indicated by the context, words in the masculine gender used in the Plan shall include the feminine gender, the singular shall include the plural, and the plural shall include the
singular. 
 SECTION 3. 
 ELIGIBILITY AND PARTICIPATION 
 Participants in the Plan shall be those Employees and non-employee directors selected by the
Committee to participate in the Plan. 
 SECTION 4. 
 ADMINISTRATION 
 4.1. Power to Grant and Establish Terms of Awards. The Committee shall have the
authority, subject to the terms of the Plan, to determine the Participants to whom Incentive Awards shall be granted and the terms and conditions of any and all Incentive Awards, including but not limited to the number of shares of Common Stock to
be covered by each Incentive Award, the time or times at which Incentive Awards shall be granted, and the terms and provisions of the instruments by which Options shall be evidenced; to designate Options as Incentive Stock Options or Non-Qualified
Stock Options; and to determine the period of time during which restrictions on Restricted Stock or Restricted Units shall remain in effect. The 

  

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proper officers of the Company may suggest to the Committee the Participants who should receive Incentive Awards. The terms and conditions of each Incentive
Award shall be determined by the Committee at the time of grant, and such terms and conditions shall not be subsequently changed in a manner which would be adverse to the Participant without the consent of the Participant to whom such Incentive
Award has been granted. The Committee may establish different terms and conditions for different Participants receiving Incentive Awards and for the same Participant for each Incentive Award such Participant may receive, whether or not granted at
different times. The grant of any Incentive Award to any Participant shall neither entitle such Participant to, nor disqualify him from, the grant of any other Incentive Awards. Notwithstanding anything else contained in the Plan to the contrary,
the Committee may delegate, subject to such terms and conditions as it shall determine, to any officer of the Company or to a committee of officers of the Company the authority to grant Incentive Awards (and to make any and all determinations
related thereto) to Participants who are not subject to the reporting requirements of Section 16(a) of the Act. Effective June 5, 2008, no additional Incentive Awards shall be granted under the Plan. 
 4.2. Substitute Options. The Committee shall have the right, subject to the consent of Participants to whom Options have been granted, to grant in
substitution for outstanding Options, replacement Options which may contain terms more favorable to the Participant than the Options they replace, including, without limitation, a lower exercise price (subject to Section 6.2), and to cancel
replaced Options. 
 4.3. Administration. The Committee shall be responsible for the administration of the Plan. Any Incentive Award
granted by the Committee may be subject to such conditions, not inconsistent with the terms of the Plan, as the Committee shall determine. The Committee, by majority action thereof, is authorized to prescribe, amend and rescind rules and regulations
relating to the Plan, to provide for conditions deemed necessary or advisable to protect the interests of the Company to interpret the Plan and to make all other determinations necessary or advisable for the administration and interpretation of the
Plan to carry out its provisions and purposes. Determinations, interpretations or other actions made or taken by the Committee pursuant to the provisions of the Plan shall be final, binding and conclusive for all purposes and upon all persons. The
Committee may consult with legal counsel, who may be counsel to the Company, and shall not incur any liability for any action taken in good faith in reliance upon the advice of counsel. 
  

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 SECTION 5. 
 STOCK SUBJECT TO PLAN 
 5.1. Number. Subject to the provisions of Section 5.3, the number of
shares of Common Stock subject to Incentive Awards under the Plan may not exceed 14,504,475, provided that, no more than 7,604,475 of such shares may be granted as Incentive Stock Options under the Plan. The shares to be delivered under the Plan may
consist, in whole or in part, of Common Stock held in treasury or authorized but unissued Common Stock, not reserved for any other purpose. 
 5.2. Canceled, Terminated, or Forfeited Awards. Any shares of Common Stock subject to an Incentive Award which for any reason expires, or is canceled, terminated or otherwise settled without the issuance of any Common Stock shall
again be available under the Plan. 
 5.3. Adjustment in Capitalization. The aggregate number of shares of Common Stock available for
Incentive Awards under Section 5.1 or subject to outstanding Incentive Awards and the respective prices and/or vesting criteria applicable to outstanding Incentive Awards shall be proportionately adjusted to reflect, as deemed equitable and
appropriate by the Committee, an Adjustment Event. To the extent deemed equitable and appropriate by the Committee, subject to any required action by stockholders, in any merger, consolidation, reorganization, liquidation, dissolution, or other
similar transaction, any Incentive Award granted under the Plan shall pertain to the securities and other property to which a holder of the number of shares of Common Stock covered by the Incentive Award would have been entitled to receive in
connection with such event. 
 Any shares of stock (whether Common Stock, shares of stock into which shares of Common Stock are converted or
for which shares of Common Stock are exchanged or shares of stock distributed with respect to Common Stock) or cash or other property received with respect to any award of Restricted Stock or Restricted Units granted under the Plan as a result of
any Adjustment Event, any distribution of property or any merger, consolidation, reorganization, liquidation, dissolution or other similar transaction shall, except as provided in Section 7.4 or as otherwise provided by the Committee at or
after the date an award of Restricted Stock or Restricted Units is made by the Committee, be subject to the same terms and conditions, including restrictions on transfer, as are applicable to such shares of Restricted Stock or Restricted Units and
any stock certificate(s) representing or evidencing any shares of stock so received shall be legended in substantially the same manner as provided in Section 7.5 hereof. 
  

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 SECTION 6. 
 STOCK OPTIONS 
 6.1. Grant of Options. Options may be granted to Participants at such time or times
as shall be determined by the Committee. Options granted to non-employee directors shall be in such amounts and intervals as determined by the Board from time to time. Options granted under the Plan may be of two types: (i) Incentive
Stock Options and (ii) Non-Qualified Stock Options, except that no Incentive Stock Option may be granted to a non-employee director or to any Employee of a Subsidiary which is not a corporation. The date of grant of an Option under the
Plan will be the date on which the Option is awarded by the Committee or, if so determined by the Committee, the date on which occurs any event the occurrence of which is an express condition precedent to the grant of the Option. The Committee shall
determine the number of Options, if any, to be granted to the Participant, provided that, in no event shall the number of shares of Common Stock subject to any Options or related Stock Appreciation Rights granted to any Participant
during any 12 month period exceed 1,000,000 shares as such number may be adjusted pursuant to Section 5.3. Each Option shall be evidenced by an Option agreement that shall specify the type of Option granted, the exercise price, the duration of
the Option, the number of shares of Common Stock to which the Option pertains, and such other terms and conditions not inconsistent with the Plan as the Committee shall determine. 
 6.2. Option Price. Non-Qualified Stock Options and Incentive Stock Options granted pursuant to the Plan shall have an exercise price which is not
less than the Fair Market Value on the date the Option is granted. 
 6.3. Exercise of Options. Options awarded to a Participant under
the Plan shall be exercisable at such times and shall be subject to such restrictions and conditions including the performance of a minimum period of service or the satisfaction of performance goals, as the Committee may impose either at or after
the time of grant of such Options, subject to the Committee’s right to accelerate the exercisability of such Option in its discretion. Notwithstanding the foregoing, unless otherwise determined by the Committee, Options shall become exercisable
in three equal installments on each of the first three anniversaries of the date of grant. Except as may be provided in any provision approved by the Committee pursuant to this Section 6.3, after becoming exercisable each installment shall
remain exercisable until 

  

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expiration, termination or cancellation of the Option. An Option may be exercised from time to time, in whole or in part, up to the total number of shares of
Common Stock with respect to which it is then exercisable. Notwithstanding the foregoing, no Option shall be exercisable for more than 10 years after the date on which it is granted. 
 6.4. Payment. The Committee shall establish procedures governing the exercise of Options, which shall require that written notice of exercise be
given and that the Option price be paid in full at the time of exercise (i) in cash or cash equivalents, (ii) in the discretion of the Committee, in shares of Common Stock which have been owned by the Participant for at least
six months’ (or such greater or lesser period as the Committee shall determine) having a Fair Market Value on the date of exercise equal to such Option price or in a combination of cash and Common Stock or (iii) in accordance with
such procedures or in such other form as the Committee shall from time to time determine. As soon as practicable after receipt of a written exercise notice and payment of the exercise price in accordance with this Section 6.4, the Company shall
deliver to the Participant a certificate or certificates representing the acquired shares of Common Stock. 
 6.5. Incentive Stock
Options. Notwithstanding anything in the Plan to the contrary, no term of the Plan relating to Incentive Stock Options shall be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be so exercised, so as
to disqualify the Plan under Section 422 of the Code, or, without the consent of any Participant affected thereby, to cause any Incentive Stock Option previously granted to fail to qualify for the Federal income tax treatment afforded under
Section 421 of the Code. 
 6.6. Settlement. At the time a Participant exercises an Option in lieu of accepting payment of the
exercise price of the Option and delivering the number of shares of Common Stock for which the Option is being exercised, the Committee may direct that the Company either (i) pay the Participant a cash amount, or (ii) issue a
lesser number of shares of Common Stock having a Fair Market Value on the date of exercise, equal to the amount, if any, by which the aggregate Fair Market Value of the shares of Common Stock as to which the Option is being exercised exceeds the
aggregate exercise price for such shares, based on such terms and conditions as the Committee shall establish. 
 6.7. Termination of
Employment Due to Retirement. Unless otherwise determined by the Committee at the time of grant, in the event a Participant’s employment with the Company or a Subsidiary terminates by reason of Retirement, any Options granted to such

  

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Participant which are exercisable at the date of such Participant’s termination of employment may be exercised at any time prior to three (3) years
following the Participant’s termination of employment or the expiration of the term of the Options, whichever period is shorter. Notwithstanding the foregoing, for all Options granted on or after December 7, 2000, unless otherwise
determined by the Committee at the time of grant, in the event a Participant’s employment with the Company or a Subsidiary terminates by reason of Retirement, any such Options granted to such Participant which are exercisable at the date of
such Participant’s termination of employment may be exercised at any time during the period ending on the tenth anniversary of the grant date of such Options. 
 6.8. Termination of Employment Due to Death or Disability. Unless otherwise determined by the Committee at the time of grant, in the event a Participant’s employment with the Company or a Subsidiary
terminates by reason of death or Disability, any Options granted to such Participant which are exercisable at the date of such Participant’s termination of employment may be exercised by the Participant or the Participant’s designated
beneficiary, and if none is named, in accordance with Section 10.2, at any time prior to one (1) year following the Participant’s termination of employment or the expiration date of the term of the Options, whichever period is
shorter. Notwithstanding the foregoing, for all Options granted on or after December 7, 2000, unless otherwise determined by the Committee at the time of grant, in the event a Participant’s employment with the Company or a Subsidiary
terminates by reason of death or Disability, any such Options granted to such Participant which are exercisable at the date of such Participant’s termination of employment may be exercised by the Participant or the Participant’s deisgnated
beneficiary, and if none is named, in accordance with Section 10.2, at any time during the period ending on the tenth anniversary of the grant date of such Options. 
 6.9. Termination of Employment for Cause. Unless otherwise determined by the Committee at the time of grant, in the event a Participant’s employment with the Company or a Subsidiary is terminated for
Cause, all Options granted to such Participant which are then outstanding (whether or not exercisable prior to the date of such termination) shall be forfeited. 
 6.10. Termination of Employment for Any Other Reason. Unless otherwise determined by the Committee at or after the time of grant, in the event a Participant’s employment with the Company or a Subsidiary
terminates for any reason other than one described in Section 6.7, 6.8 or 6.9, any Options granted to such Participant which are exercisable at the date of such Participant’s termination of employment shall be exercisable at any time prior
to 90 days following such Participant’s termination of employment or the expiration of the term of such Options, whichever period is shorter. 
  

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 6.11. Committee Discretion. Notwithstanding anything else contained in this Section 6 to the
contrary, the Committee may permit all or any portion of any Options to be exercised following a Participant’s termination of employment for any reason on such terms and subject to such conditions as the Committee shall determine for a period
up to and including, but not beyond, the expiration of the term of such Options. 
 6.12. Stock Appreciation Rights. The Committee
may, in its discretion, include in any Option, either at the time the Option is granted or thereafter at any time prior to the exercise, termination or expiration of the Option, a right of the Participant to elect, in lieu of purchasing any shares
of Common Stock in respect of which such Option is exercisable at any time, to relinquish his Option with respect to any and all of such shares of Common Stock and to receive from the Company a payment, in cash or Common Stock, equal to the amount
by which (i) the product of (x) the Fair Market Value of a share of Common Stock on the date of such election multiplied by (y) the number of shares of Common Stock as to which the Participant shall have made such
election exceeds (ii) the total exercise price for that number of shares of Common Stock under the terms of such Option. If the Participant shall exercise Stock Appreciation Rights appertaining to any Option, such Option shall thereafter
remain exercisable, according to its term, only with respect to the number of shares of Common Stock as to which it would otherwise be exercisable less the number of shares of Common Stock with respect to which such Stock Appreciation Rights have
been exercised. Each Stock Appreciation Right shall be subject to the same terms and conditions as the related Option and shall be exercisable only to the extent the related Option is exercisable. 
 SECTION 7. 
 RESTRICTED STOCK AND RESTRICTED
UNITS 
 7.1. Grant of Restricted Stock and Restricted Units. Any award made hereunder of Restricted Stock or Restricted Units shall
be subject to the terms and conditions of the Plan and to any other terms and conditions not inconsistent with the Plan (including, but not limited to, requiring the Participant to pay the Company an amount equal to the par value per share for each
share of Restricted Stock awarded) as shall be prescribed by the Committee in its sole discretion. As determined by the Committee, with respect to an award of Restricted Stock, the Company shall either (i) transfer or issue to each
Participant to whom an award of 

  

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Restricted Stock has been made the number of shares of Restricted Stock specified by the Committee or (ii) hold such shares of Restricted Stock
for the benefit of the Participant for the Restricted Period. In the case of an award of Restricted Units, no shares of Common Stock shall be issued at the time an award is made, and the Company shall not be required to set aside a fund for the
payment of such award. 
 7.2. Restrictions on Transferability. Shares of Restricted Stock may not be sold, assigned, transferred,
pledged, hypothecated or otherwise encumbered by the Participant during the Restricted Period, except as hereinafter provided. Notwithstanding the foregoing, the Committee may permit (on such terms and conditions as it shall establish) shares of
Restricted Stock to be transferred during the Restricted Period by the Participant to a member of the Participant’s immediate family or to a trust or similar vehicle for the benefit of such immediate family members, provided that any
shares of Restricted Stock so transferred shall remain subject to the provisions of this Section 7. 
 7.3. Rights as a
Shareholder. Except for the restrictions set forth herein and unless otherwise determined by the Committee, the Participant shall have all the rights of a shareholder with respect to such shares of Restricted Stock, including but not limited to,
the right to vote and the right to receive dividends. A Participant shall not have any right, in respect of Restricted Units awarded pursuant to the Plan, to vote on any matter submitted to the Company’s stockholders until such time as the
shares of Common Stock attributable to such Restricted Units have been issued. At the discretion of the Committee, a Participant’s Restricted Unit account may be credited with Dividend Equivalents during the Restricted Period. 
 7.4. Restricted Period. Unless the Committee shall otherwise determine at or after the date an award of Restricted Stock or Restricted Units is
made to the Participant by the Committee, the Restricted Period shall commence upon the date of grant and shall lapse with respect to the shares of Restricted Stock or Restricted Units on the third anniversary of the date of grant, unless sooner
terminated as otherwise provided herein. Without limiting the generality of the foregoing, the Committee may provide for termination of the Restricted Period upon the achievement by the Participant of performance goals specified by the Committee at
the date of grant. The determination of whether the Participant has achieved such performance goals shall be made by the Committee in its sole discretion. 
  

 - 16 - 

 7.5. Legend. Each certificate issued to a Participant in respect of shares of Restricted Stock
awarded under the Plan shall be registered in the name of the Participant and Shall bear the following (or similar) legend: 
 “The shares of stock represented by this certificate are subject to the terms and conditions contained in the American Standard Companies Inc. Stock Incentive Plan and may not be sold, pledged, transferred, assigned, hypothecated or
otherwise encumbered in an manner (except as provided in Section 7.2 of the Plan) until
                                        
.” 
 7.6. Death, Disability or Retirement. Unless the Committee shall otherwise determine at the date of grant, if a
Participant ceases to be employed by the Company or any Subsidiary by reason of death, Disability or Retirement, the Restricted Period will lapse as to a pro rated portion of the shares of Restricted Stock and Restricted Units transferred or issued
to such Participant under the Plan based on the number of days the Participant actually worked since the date the shares of Restricted Stock or Restricted Units were granted (or in the case of an award which becomes vested in installments, since the
date, if any, on which the last installment of such Restricted Stock or Restricted Units became vested); provided that, in the case of an award with respect to which the restrictions will lapse, if at all, based on the attainment of
performance goals or targets, such vesting shall be deferred until the end of the applicable performance period and be based on that number of shares of Restricted Stock or Restricted Units, if any, that would have been earned based on the
attainment or partial attainment of such performance goals or targets. Any shares of Restricted Stock or Restricted Units as to which the Restricted Period has not lapsed at the date of a Participant’s termination of employment by reason of
death, Disability or Retirement (or which do not become vested after such date under the preceding sentence) shall revert back to the Company upon such Participant’s termination of employment (or, if applicable, such deferred vesting date).

 7.7. Termination of Employment. Unless the Committee shall otherwise determine at or after the date of grant, if a Participant
ceases to be employed by the Company or any Subsidiary for any reason other than those specified in Section 7.6 at any time prior to the date when the Restricted Period lapses, all shares of Restricted Stock held by the Participant shall revert
back to the Company and all Restricted Units and any Dividend Equivalents credited to such Participant shall be forfeited upon the Participant’s termination of employment. 
  

 - 17 - 

 7.8. Issuance of New Certificates; Settlement of Restricted Units. Upon the lapse of the
Restricted Period with respect to any shares of Restricted Stock, such shares shall no longer be subject to the restrictions imposed under Section 7.2 and the Company shall issue or have issued new share certificates without the legend
described in Section 7.5 in exchange for those previously issued. Upon the lapse of the Restricted Period with respect to any Restricted Units, the Company shall deliver to the Participant, or the Participant’s beneficiary or estate, as
provided in Section 10.2, one share of Common Stock for each Restricted Unit as to which restrictions have lapsed and any Dividend Equivalents credited with respect to such Restricted Units and any interest thereon. The Committee may, in its
sole discretion, elect to pay cash or part cash and part Common Stock in lieu of delivering only Common Stock for Restricted Units. If a cash payment is made in lieu of delivering Common Stock, the amount of such cash payment for each share of
Common Stock to which a Participant is entitled shall be equal to the Fair Market Value of the Common Stock on the date on which the Restricted Period lapsed with respect to the related Restricted Unit. 
 7.9. Performance Related Awards. Notwithstanding anything else contained in the Plan to the contrary, unless the Committee otherwise determines at
the time of grant, any award of Restricted Shares or Restricted Units, or an award of Common Stock or Restricted Units made in conjunction with other incentive plans established by the Company, to an officer of the Company or a Subsidiary who is
subject to the reporting requirements of Section 16(a) of the Exchange Act, other than an award which will vest solely on the basis of the passage of time, shall become vested, if at all, upon the determination by the Committee that performance
objectives established by the Committee have been attained, in whole or in part (a “Performance Award”), to the extent required to ensure that the grant of such awards are deductible by the Company or such Subsidiary pursuant to
Section 162(m) of the Code. Such performance objectives shall be determined over a measurement period or periods established by the Committee and related to at least one of the following criteria, which may be determined solely by reference to
the performance of (i) the Company, (ii) a Subsidiary, (iii) an affiliate of the Company, or (iv) a division or unit of any of the foregoing or based on comparative performance of any of the foregoing
relative to other companies: (A) earnings per share; (B) revenues; (C) operating cash flow; (D) operating earnings; (E) working capital; (F) inventory turnover rates;
(G) earnings to sales ratio; and (H) return on capital (the “Performance Criteria”). The maximum number of shares of Common Stock that may be subject to any such Performance Award in any 12 month period shall not
exceed 500,000 shares, as such number may be adjusted pursuant to Section 5.3. 
  

 - 18 - 

 SECTION 8. 
 CHANGE OF CONTROL 
 8.1. Accelerated Vesting and Payment. In the event of a Change of Control, the
Restricted Period with respect to each share of Restricted Stock and each Restricted Unit will lapse and each Option and Stock Appreciation Right shall become immediately exercisable on the date of such Change of Control. 
 8.2. Alternative Awards. Notwithstanding any provision of Section 6, any Participant who holds on the date of a Change of Control an Option
or Stock Appreciation Right granted under this Plan shall be entitled to elect, during the 60-days period immediately following such Change of Control, in lieu of acquiring the shares of Common Stock covered by any such Option (or, in the case of a
Stock Appreciation Right, the amount of cash and Common Stock such Participant would otherwise be entitled to receive upon the relinquishment of the Option related to such Stock Appreciation Right), to receive, and the Company shall be obligated to
pay, the Change of Control Settlement Value with respect to shares of Common Stock up to the number of shares covered by such Option or Stock Appreciation Right, which amount shall be paid in cash. 
 8.3. No Amendment. Notwithstanding Section 9, the provisions of this Section 8 may not be amended in any respect following a Change of
Control. 
 SECTION 9. 
 AMENDMENT, MODIFICATION, AND TERMINATION OF PLAN 
 The Board may at any time terminate or suspend the Plan, and from time to time
may amend or modify the Plan. No action of the Board may, without the consent of a Participant alter or impair his rights under any previously granted Incentive Award. 
 SECTION 10. 
 MISCELLANEOUS PROVISIONS 
 10.1. Nontransferability of Awards. Unless the Committee shall permit (on such terms and conditions as it shall establish) an Incentive Award to
be transferred, no Incentive Award 

  

 - 19 - 

 
granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and
distribution. All rights with respect to any Incentive Award granted to a Participant under the Plan shall be exercisable during his lifetime only by such Participant or, if transferred as contemplated by the previous sentence, a permitted
transferee. 
 10.2. Beneficiary Designation. Each Participant under the Plan may from time to time name any beneficiary or
beneficiaries (who may be named contingently or successively) to whom any benefit under the Plan is to be paid or by whom any right under the Plan is to be exercised in case of his death. Each designation will revoke all prior designations by the
same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant in writing with the Committee during his lifetime. In the absence of any such designation, benefits remaining unpaid or
Incentive Awards outstanding at the Participant’s death shall be paid to or exercised by the Participant’s surviving spouse, if any, or otherwise to or by his estate. 
 10.3. No Guarantee of Employment or Participation. Nothing in the Plan shall interfere with or limit in any way the right of the Company or any
Subsidiary to terminate any Participant’s employment at any time, nor confer upon any Participant any right to continue in the employ of the Company or any Subsidiary or affiliate. No Employee or non-employee director shall have a right to be
selected as a Participant, or, having been so selected, to receive any future Incentive Awards. 
 10.4. Tax Withholding. The Company
shall have the power to withhold, or require a Participant to remit to the Company promptly upon notification of the amount due, an amount sufficient to satisfy Federal, state and local withholding tax requirements on with respect to any Incentive
Award, and the Company may defer payment of cash or issuance or delivery of Common Stock until such requirements are satisfied. The Committee may, in its discretion, permit a Participant to elect, subject to such conditions as the Committee shall
impose (i) to have Common Stock otherwise issuable or deliverable under the Plan withheld by the Company or (ii) to deliver to the Company previously acquired shares of Common Stock, in each case, having a Fair Market Value
sufficient to satisfy not more than the Participant’s statutory minimum Federal, state and local tax obligation associated with the transaction. 
  

 - 20 - 

 10.5. Indemnification. Each person who is or shall have been a member of the Committee or of the
Board shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him in connection with or resulting from any claim, action, suit, or proceeding to
which he may be made a party or in which he may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him in settlement thereof, with the Company’s approval, or paid by him
in satisfaction of any judgment in any such action, suit or proceeding against him, provided he shall give the Company an opportunity, at its own expense, to handle and defend the same before he undertakes to handle and defend it on his own behalf.
The foregoing right of indemnification shall not be exclusive and shall be independent of any other rights of indemnification to which such persons may be entitled under the Company’s Articles of Incorporation or By-laws, by contract, as a
matter of law, or otherwise. 
 10.6. No Limitation on Compensation. Nothing in the Plan shall be construed to limit the right of the
Company to establish other plans or to pay compensation to its employees in cash or property, in a manner which is not expressly authorized under the Plan. 
 10.7. Requirements of Law. The granting of Incentive Awards and the issuance of shares of Common Stock shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental
agencies or national securities exchanges as may be required. 
 10.8. Governing Law. The Plan, and all agreements hereunder, shall be
construed in accordance with and governed by the laws of the State of Delaware. 
 10.9. No Impact On Benefits. Incentive Awards
granted under the Plan are not compensation for purposes of calculating an Employee’s rights under any employee benefit plan. 
 10.10.
Securities Law Compliance. Instruments evidencing Incentive Awards may contain such other provisions, not inconsistent with the Plan, as the Committee deems advisable, including (i) a provision limiting the period during which
Stock Appreciation Rights could be exercised to the extent required in order to avoid the application of Section 16(b) of the Act in the case of officers of the Company and (ii) a requirement that the Participant represent to the
Company in writing, when an Incentive Award is granted or when he receives shares with respect to such Award (or at such other time as the Committee deems appropriate) that he is accepting such Incentive Award, or receiving or acquiring such shares
(unless they are then 

  

 - 21 - 

 
covered by a Securities Act of 1933 registration statement), for his own account for investment only and with no present intention to transfer, sell or
otherwise dispose of such shares except such disposition by a legal representative as shall be required by will or the laws of any jurisdiction in winding up the estate of the Participant. Such shares shall be transferable only if the proposed
transfer shall be permissible pursuant to the Plan and if, in the opinion of counsel satisfactory to the Company, such transfer at such time will be in compliance with applicable securities laws. 
 10.11 Term of Plan. The Plan shall be effective upon its adoption by the Board and approval by the holders of the Common Stock, provided,
however, that in no event shall the Plan become effective until immediately prior to the occurrence of a Public Offering. The Plan shall expire on the tenth anniversary of the date on which it is adopted by the Board (except as to Incentive Awards
outstanding on that date), unless sooner terminated pursuant to Section 9. 
 IN WITNESS WHEREOF, the Company has caused this amendment and restatement
to be executed by its duly authorized representative as of July 1, 2009. 
  

			
	INGERSOLL-RAND PLC
		
	By:	 	/s/ Barbara A. Santoro
		 	Barbara A. Santoro
		 	Vice President & Secretary

  

 - 22 -Trane Inc. Deferred Compensation Plan

 Exhibit 10.19 
 TRANE INC. 
 DEFERRED COMPENSATION PLAN 
 (As Amended and Restated as of July 1, 2009, except where otherwise stated) 
 This document constitutes part of a Prospectus covering securities that have been registered under the Securities Act of 1993. 
 Section 1. Purpose 
 The purpose of this Trane Inc. Deferred Compensation Plan (the
“Plan”), as amended as of July 1, 2009, is to provide a select group of management or highly compensated employees of Trane Inc. (the “Company”) and its subsidiaries with the opportunity to defer receipt of certain
compensation, and for the Company to defer payment of certain compensation to such individuals, into future years. The Plan covers employees of the Company and subsidiaries of the Company which, with the consent of the Company, elect to participate
in the Plan (the “Employer”). The Plan has been amended as of January 1, 2005 to conform to Section 409A of the Internal Revenue Code (“Section 409A”) for all amounts deferred on or after January 1, 2005 as defined
in Section 409A and applicable regulations (such amounts hereinafter referred to as “Post-December 31, 2004 Deferrals”). All amounts deferred hereunder which are not subject to Section 409A shall be referred to herein as
“Pre-2005 Deferrals”. The provisions in the Plan with respect to Post-December 31, 2004 Deferrals are subject to the transition rules set forth in guidance from the Internal Revenue Service (the “IRS”), including, without
limitation, Notice 2005-1 and subsequent notices issued by the IRS providing for transitional relief with respect to Section 409A. The Company reserves the right to allow Participants to take advantage of any such transitional relief with
respect to their Post-December 31, 2004 Deferrals. 
 Section 2. Eligibility 
 Each employee of the Employer who is a U.S. taxpayer and who either (i) participates in the Long Term Incentive Compensation Plan of the Company or
any equivalent plan of Ingersoll-Rand Company plc (“Ingersoll Rand”) or any of its subsidiaries or (ii) is a district sales manager for the Trane Commercial Sales business is eligible to participate in the Plan, or (iii)

 
effective July 7, 2006 is a territory sales manager for the Trane Commercial Sales Business. All those who are eligible to participate in the Plan are
considered to be Participants. The Plan Administrator shall provide a copy of the Plan to each Participant together with a form of letter which the Participant may use to notify the Company of his or her election to defer compensation under the
Plan. 
 Section 3. Participation 
 a. Deferral Election. On or before the date chosen from time to time by the Plan Administrator, a Participant may elect to defer receipt of certain forms of compensation which, but for such election,
would have been paid to him or her, and to have such amounts credited, in whole or in part, to a memorandum account credited with a fixed annual return (the “Interest Account”) and/or a memorandum account deemed to be invested in notional
Ordinary Shares of Ingersoll Rand (the “Stock Account”). A Participant may elect to defer up to (i) 50% of base pay, (ii) 100% of payments under the Company’s Annual Incentive Program or an equivalent Ingersoll Rand program,
(iii) 100% of payments under the Company’s Long Term Incentive Compensation Program or an equivalent Ingersoll Rand program, and (iv) 100% of such other sources as are determined from time to time by the Plan Administrator;
provided, however, that the total amount deferred by a Participant shall be limited in any calendar year, if necessary, to satisfy Social Security Tax (including Medicare), income tax and employee benefit plan withholding requirements as
determined in the sole and absolute discretion of the Plan Administrator. 
 b. Form and Duration of Deferral Election. A
deferral election shall be made by a Participant in the form of a written notice filed on a designated form with the Plan Administrator (the “Deferral Election”). The Deferral Election shall specify the amount being deferred under that
election and how much, if any, of the deferral amount is going to each of the Interest Account and the Stock Account. The minimum amount that each Participant may defer under the Plan for each year shall be $5,000 (or such other amount as the Plan
Administrator shall determine from time to time). For Pre-2005 Deferrals, any such election shall be effective solely with respect to payments that would otherwise be made in the calendar year following the year in which such election is filed,
except that with respect to individuals who first become 

  

 2 

 
Participants during a calendar year, such election shall apply to compensation to be earned and paid in that calendar year. For Post-December 31, 2004
Deferrals that are not deferrals of performance based compensation based on services provided over a period of at least twelve (12) months within the meaning of Section 409A (hereinafter, “Performance Based Compensation”), any
deferral election with respect to compensation for services to be performed during a taxable year must be made not later than the close of the preceding taxable year or at such other times as provided under the regulations governing
Section 409A. For Post-December 31, 2004 Deferrals of Performance Based Compensation, such deferral election may be made no later than six (6) months before the end of the performance period to which the Performance Based Compensation
applies. Notwithstanding the foregoing, for Post-December 31, 2004 Deferrals by individuals who first become Participants during a calendar year, elections to defer shall be made with respect to compensation for services to be performed
subsequent to the election within thirty (30) days after the date such individual becomes a Participant. All deferral elections shall remain in effect for future years until it is modified or revoked. Any revocation or modification of a
Deferral Election shall become effective only with respect to compensation payable in the calendar year following receipt of such revocation or modification by the Plan Administrator. 
 c. Renewal. A Participant who has revoked an election to participate in the Plan may file a new election to defer compensation payable in
the calendar year following the year in which such election is filed, if the Participant continues to meet the Plan’s eligibility criteria as are then in effect. 
 d. Discretionary Company Contributions; Change of Control. The Employer may from time to time elect to make fully discretionary contributions (“Discretionary Company Contributions”) to the
Interest Accounts of some or all Participants, in such amounts as it, in its sole discretion, elects. Such Discretionary Company Contributions may be subject to a vesting schedule, as determined by the Plan Administrator. Notwithstanding the vesting
schedule, such amounts will become fully vested upon the occurrence of a Change of Control, or upon the death or disability (as defined below) of the Participant (while actively employed by the Employer as an employee). “Change of Control”
shall have the same meaning as set forth in the Ingersoll-Rand Company Limited 2007 Incentive Stock Plan, as amended, or any successor plan thereto. 
  

 3 

 e. Matching Contributions. The Employer may from time to time elect to make fully
discretionary matching contributions (“Matching Contributions”) to the Interest Accounts of some or all Participants, in such amounts as it, in its sole discretion, elects. Such Matching Contributions shall be fully vested at all times.

 Section 4. Participant’s Accounts 
 a. Establishment of Account. The Company shall maintain an Interest Account and a Stock Account for each Participant, and shall make additions to and subtractions from such Accounts as provided in this
Plan. For each amount credited to the Interest Account, such Account shall note the date the amount was credited to the Account, any interest accrued pursuant to this Section 4, as well as the date that distribution is to commence. For each
amount credited to the Stock Account, the Account shall note the date the amount was credited to the Account, the number of notional shares credited on such date, the Market Value per Share used to determine the notional shares credited, as well as
the date distribution is to commence. 
 b. Interest Account. Compensation allocated to the Interest Account pursuant to this
Section 4 shall be credited to such Account as of the date such compensation would otherwise have been paid to the Participant, and for Matching Contributions and Discretionary Company Contributions, as of the date on which such amounts are
credited to the Interest Account. Any amounts credited to the Interest Account shall earn interest on an annual basis at the Applicable Interest Rate in effect for each calendar year, as defined below, which interest shall be credited on the last
business day of each calendar month. 
 The Applicable Interest Rate for amounts credited prior to January 1, 2002, shall mean the
percentage equal to the prime rate of interest in effect at Chase Manhattan Bank (or any successor thereto) on the last business day of the previous calendar year, plus one percent. 
 For amounts credited to the Interest Account after December 31, 2001, Applicable Interest Rate shall mean the rate of interest to be determined by
the Plan Administrator from time to time. 
 c. Stock Account. Any compensation allocated to the Stock Account pursuant to this
Section 4 shall be deemed to be invested in a number of notional Ordinary Shares (including fractional shares) of Ingersoll Rand (the “Shares”) equal to the quotient of (i) the dollar amount 

  

 4 

 
of such compensation divided by (ii) the Market Value Per Share (as defined below) on the date the compensation being allocated to the Stock Account
would otherwise have been payable to the Participant. The Market Value Per Share on any date shall mean the closing price per share for an ordinary share of Ingersoll Rand (“Ordinary Share”) as reported on the Consolidated Tape of the New
York Stock Exchange on such date. If such date is not a business day or if no sale occurs on such date, Market Value Per Share shall be determined, in the manner described above, as of the first preceding business day on which a sale occurs.

 Whenever a dividend other than a dividend payable in the form of Ingersoll Rand’s Ordinary Shares is declared with respect to
Ingersoll Rand’s Ordinary Shares, the number of Shares in the Participant’s Stock Account shall be increased by the number of Shares determined by dividing (i) the product of (A) the number of Shares in the Participant’s
Stock Account on the related dividend record date and (B) the amount of any cash dividend declared by Ingersoll Rand on a Ordinary Share (or, in the case of any dividend distributable in property other than Ordinary Shares, the per share value
of such dividend, as determined by Ingersoll Rand for purposes of income tax reporting) by (ii) the Market Value Per Share on the related dividend payment date. In the case of any dividend declared on Ingersoll Rand’s Ordinary Shares which
is payable in Ordinary Shares, the Participant’s Stock Account shall be increased by the number of Shares equal to the product of (i) the number of Shares credited to the Participant’s Stock Account on the related dividend record date
and (ii) the number of shares of Ordinary Shares (including any fraction thereof) distributable as a dividend on a Ordinary Share. 
 In
the event of any change in the number or kind of outstanding Ordinary Shares by reason of any recapitalization, reorganization, merger, consolidation, stock split or any similar change affecting the Ordinary Shares, other than a stock dividend as
provided above, the Administrator shall make an appropriate adjustment in the number of Shares credited to each Participant’s Stock Account and, to the extent such adjustment results in a cash credit to such Stock Account, may cause such cash
credit to be deemed reinvested in Shares or may effect a transfer of such cash credit to the Participant’s Interest Account. Solely for purposes of determining the amount of any interest to be credited thereon, any amount transferred to a
Participant’s Interest Account pursuant to the immediately preceding sentence shall be treated in the same manner as though such transfer were a deferral, at the election of the Participant, of compensation otherwise payable as of the effective
date of the corresponding adjustment to the Participant’s Stock Account. 
  

 5 

 (d) Investment Elections for Deferrals and Other Contributions. At the time a Participant
elects to defer compensation pursuant to Section 3(a), the Participant shall designate in writing the portion of such compensation, stated as a whole percentage, to be credited to the Interest Account and the portion to be credited to the Stock
Account. Any compensation to be credited to either Account shall be rounded to the nearest whole cent. If a Participant fails to designate how the deferrals and/or other contributions are to be allocated between the two Accounts, 100% of such
amounts shall be credited to the Interest Account. Participants may not elect to transfer from the Interest Account to the Stock Account, or vice versa. In addition, any Discretionary or Matching Company Contributions shall be invested in the
Interest Account. 
 Section 5. Distributions from the Accounts 
 a. Distribution Elections for Pre-2005 Deferrals. This Section 5.a applies to Pre-2005 Deferrals only. At the time a Participant makes
a Deferral Election with respect to a particular calendar year, such Participant shall also file with the Plan Administrator a written election (a “Distribution Election”) with respect to the timing and manner of distribution of the
aggregate amount, if any, credited to the Interest Account and/or the Stock Account for that year’s deferrals and matching contributions. In all cases, the Plan Administrator will determine the time and form of distributions with respect to
Discretionary Company Contributions, if any. A Distribution Election shall specify that a distribution for that year’s deferrals and Matching Contributions shall be made in one of the following manners: 
  

	 	(1)	 Distributions to be made upon termination of employment (as an employee of the Employer or as a member of the then existing Company board) or disability.
Disability, for this purpose, shall mean the Participant’s permanent inability to perform each and every duty of his or her occupation or position of employment due to illness or injury as determined in the sole and absolute discretion of the
Plan Administrator. The normal form of distribution under this method will be installments paid over 10 years, but the Participant may elect instead to be paid in 

  

 6 

	 	 
annual installments over a period of less than 10 years, or in the form of a lump sum. Distributions under this methodology will commence the month
immediately following the month in which the Participant terminates employment or becomes disabled; or 

  

	 	(2)	Distributions commence either one, two, or three years following termination of employment (as an employee of the Employer or as a member of the then existing Company board) or
Disability (as defined above). The normal form of distribution under this method will be installments paid over 10 years, but the Participant may elect instead to be paid in annual installments over a period of less than 10 years, or in the form of
a lump sum. Distributions under this methodology will commence in February of the selected calendar year; or 

  

	 	(3)	Distributions to be made at scheduled dates while still employed or while still a member of the Company board. Under this methodology, the Participant may elect to defer receipt
until a year which is at least two years following the calendar year in which the deferrals or contributions are being made. The normal form of distribution under this methodology will be a lump sum, but the Participant may elect instead to be paid
in installments over two, three, four or five years. Distributions under this methodology will commence in February of the selected calendar year. In the event that a Participant becomes disabled (as defined above) or terminates employment (as an
employee or a member of the then existing Company board) prior to commencement of a scheduled withdrawal under this methodology, then such withdrawal shall commence in the month immediately following such Disability or termination of employment in
the form selected by the Participant for in-service distributions. In the event that a Participant becomes disabled (as defined above) or terminates employment (as an employee or a member of the then existing Company board) after commencement of a
scheduled withdrawal under this methodology for a given year’s deferrals and Matching Contributions, then that year’s deferrals and Matching Contributions will continue to be distributed in the form selected. 

  

 7 

 b. Amendment of Distribution Election for Pre-2005 Deferrals. This Section 5.b applies
to Pre-2005 Deferrals only. A Participant may change a Distribution Election applicable to a particular year’s deferrals and Matching Contributions upon written notice filed with the Plan Administrator up to two times, subject to the following
limitations: 
  

	 	(1)	No election to change the method and/or timing of any distribution may accelerate the time at which payment of amounts previously deferred would otherwise have been paid;

  

	 	(2)	No election to change the method and/or timing of any distribution shall be effective unless at least one full calendar year elapses between: 

  

	 	(a)	the date as of which such election is so filed, and 

  

	 	(b)	the date as of which a distribution would otherwise have commenced. 

 c. Distribution Elections for Post-December 31, 2004 Deferrals. This Section 5.c applies to Post-December 31, 2004 Deferrals only. At the time a Participant makes a Deferral Election with
respect to a particular calendar year, such Participant shall also file with the Plan Administrator a written election (a “Distribution Election”) with respect to the timing and manner of distribution of the aggregate amount, if any,
credited to the Interest Account and/or the Stock Account for that year’s deferrals and matching contributions. In all cases, the Plan Administrator will determine the time and form of distributions with respect to Discretionary Company
Contributions, if any, provided that such distributions shall be made in accordance with Section 409A. A Distribution Election shall specify that a distribution for that year’s deferrals and Matching Contributions shall be made in one of
the following manners: 
  

	 	(1)	 Distributions to be made upon separation from service as such term is defined under Section 409A and applicable regulations (hereinafter “Separation from
Service”) (as an employee of the Employer or as a member of the then existing Company board) or disability. Disability, for this purpose, shall mean the Participant (i) is unable to engage in any substantial gainful activity by reason of
any medically determinable 

  

 8 

	 	 
physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months or (ii) is by reason of medically determinable physical or mental impairment which can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of
not less than three (3) months under an accident and health plan covering employees of the Participants’ employer. The normal form of distribution under this method will be installments paid over 10 years, but the Participant may elect
instead to be paid in annual installments over a period of less than 10 years, or in the form of a lump sum. Distributions under this methodology will commence on the first day of the month immediately following the month in which the Participant
incurs a Separation from Service or becomes disabled, provided that, distributions made upon Separation from Service to key employees as defined under Section 416(i) of the Internal Revenue Code as amended (hereinafter “Key
Employees”) shall not commence until the date that is six (6) months following Separation from Service; or 

  

	 	(2)	Distributions commence either one, two, three, four or five years following Separation from Service (as an employee of the Employer or as a member of the Company board) or
Disability (as defined above). The normal form of distribution under this method will be installments paid over 10 years, but the Participant may elect instead to be paid in annual installments over a period of less than 10 years, or in the form of
a lump sum. Distributions under this methodology will commence on February 1 of the selected calendar year; or 

  

	 	(3)	 Distributions to be made at scheduled dates while still employed or while still a member of the Company board. Under this methodology, the Participant may elect to
defer receipt until a year which is at least two years following the calendar year in which the deferrals or contributions are being made. The normal form of distribution under this methodology 

  

 9 

	 	 
will be a lump sum, but the Participant may elect instead to be paid in installments over two, three, four or five years. Distributions under this
methodology will commence on February 1 of the selected calendar year. In the event that a Participant becomes disabled (as defined above) or has a Separation from Service (as an employee or a member of the then existing Company board) prior to
commencement of a scheduled withdrawal under this methodology, then such withdrawal shall commence on the first day of the month immediately following such Disability or Separation from Service in the form selected by the Participant for in-service
distributions; provided that, distributions made upon Separation from Service to key employees as defined under Section 416(i) of the Internal Revenue Code as amended (hereinafter “Key Employees”) shall not commence until the date
that is six (6) months following such Separation from Service. In the event that a Participant becomes disabled (as defined above) or has a Separation from Service (as an employee or a member of the then existing Company board) after
commencement of a scheduled withdrawal under this methodology for a given year’s deferrals and Matching Contributions, then any deferrals and Matching Contributions distributable in such year and any subsequent year will continue to be
distributed in the form selected. 

 d. Amendment of Distribution Election for Post-December 31, 2004
Deferrals. This Section 5.d applies to Post-December 31, 2004 Deferrals only. A Participant may change a Distribution Election applicable to a particular year’s deferrals and Matching Contributions upon written notice filed
with the Plan Administrator up to two times, subject to the following limitations: 
  

	 	(1)	Except as specifically provided under Section 409A and applicable regulations, no election to change the method and/or timing of any distribution may accelerate the time at
which payment of amounts previously deferred would otherwise have been paid; 

  

 10 

	 	(2)	No election to change the method and/or timing of any distribution shall be effective unless at least twelve (12) months elapse between the date of such election and the date
it takes effect; 

  

	 	(3)	Except for distributions that commence upon death or Disability or in the case of a Hardship Distribution, the first payment with respect to which such election is made must be
deferred for a period of not less than five (5) years from the date such payment would otherwise have been made; 

  

	 	(4)	Any election amendment with respect to a deferral distribution described in Section 5(c)(2) or 5(c)(3) may not be made less than 12 months prior to the date of the first
scheduled payment. 

 e. Payment upon Death. Notwithstanding anything else herein to the contrary, if a
Participant shall die before payment of all amounts credited to such Participant’s Accounts have been completed, the total remaining balance in such Accounts shall be paid in a single lump sum to the Participant’s designated beneficiary
or, if no beneficiary has been designated, to his or her estate, thirty (30) days after the Plan Administrator receives notice of the Participant’s death. 
 f. Valuation on Distribution. Distributions from the Stock Account shall be paid in Ordinary Shares, unless otherwise determined by the Plan Administrator in its sole discretion. In the event of a
distribution from the Stock Account to be paid in Ordinary Shares, the number of Ordinary Shares payable shall be equal to the number of whole Shares subject to such distribution. Any fractional Shares will be settled in cash. The Stock Account will
be valued for tax withholding purposes, as well as all other purposes (including, but not limited to, settlement of the Stock Account (in whole or in part) in cash), based on the Market Value Per Share on the last business day of the calendar month
prior to the date as of which distribution is to be made. Distributions from the Interest Account will be valued as of the last business day of the calendar month prior to the date as of which distribution is to be made. 
 g. Interest Account Installment Payments. Where a Participant elects to receive a distribution in annual installments, the amount of each
installment payment from the Interest Account shall be equal to the product of (i) the balance credited to such Interest Account (which is subject to the particular installment election) on the last business day of the calendar month prior to
the date as of which such payment is to be made, and (ii) a fraction, the numerator of which is one (1) and the denominator of which is the total number of installments remaining to be paid at that time. 
  

 11 

 h. Stock Account Installment Payments. Where a Participant elects to receive the
distribution in annual installments, the number of Shares subject to such annual installment payment from the Stock Account shall be equal to the product of (i) the number of Shares credited to such Stock Account on the date of such payment
which is subject to the particular installment election, and (ii) a fraction, the numerator of which is one (1) and the denominator of which is the total number of installments remaining to be paid at that time. 
 Section 6. Hardship and Unscheduled In-Service Distributions 
 a. Hardship Distributions. A Participant shall be permitted to elect a Hardship Distribution from his or her vested Accounts at any time, subject to the following. Discretionary Company Contributions are
not available for a Hardship Distribution, unless otherwise determined by the Plan Administrator in its sole discretion. The election to take a Hardship Distribution shall be made by filing a form provided by and filed with the Plan Administrator
prior to the end of any calendar month. The Plan Administrator shall determine whether the requested distribution constitutes a Hardship Distribution as defined below. The amount determined by the Plan Administrator as a Hardship Distribution shall
be paid in a single payment as soon as practicable after the end of the calendar month in which the Hardship Distribution election is made and approved by the Plan Administrator. If a Participant receives a Hardship Distribution, the Participant
will be ineligible to participate in the Plan for the balance of that calendar year. The Plan Administrator will in its sole discretion determine the Account or Accounts from which to debit the amount of the distribution. 
 For this purpose, Hardship Distribution shall mean a severe financial hardship to the Participant resulting from a sudden and unexpected illness or
accident of the Participant or of his or her dependent (as defined in Section 152(a) of the Internal Revenue Code of 1986, as amended), loss of a Participant’s property due to casualty, or other similar or extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the Participant. The circumstances that would constitute an unforeseeable emergency will depend upon the facts 

  

 12 

 
of each case, but, in any case, a Hardship Distribution may not be made to the extent that such hardship is or may be relieved (i) through reimbursement
or compensation by insurance or otherwise, or (ii) by liquidation of the Participant’s assets, to the extent the liquidation of assets would not itself cause severe financial hardship. In all instances, the Plan Administrator will have
sole discretion to determine whether a valid hardship exists for this purpose. The amounts distributed pursuant to a Hardship Distribution shall not exceed the amount necessary to satisfy the emergency plus amounts necessary to pay taxes reasonably
anticipated as a reasonably anticipated as a result of the distribution. 
 b. Unscheduled In-Service Distributions. In no
event shall this paragraph apply to Post-December 31, 2004 Deferrals. A Participant shall be permitted to elect an Unscheduled In-Service Distribution from his or her vested Accounts at any time, subject to the following. Discretionary Company
Contributions are not available for an Unscheduled In-Service Distribution. The election to take an Unscheduled In-Service Distribution shall be made by filing a form provided by and filed with the Plan Administrator prior to the end of any calendar
month. The amount of the Unscheduled In-Service Distribution shall be the amount selected by the Participant, up to a maximum of 90% of his vested Account balance. The amount described herein shall be paid in a single payment as soon as practicable
after the end of the calendar month in which the Unscheduled In-Service Distribution election is made. If a Participant requests an Unscheduled In-Service Distribution of some or all of his or her vested Account, such Participant shall permanently
forfeit 10% of the gross amount to be distributed from the Participant’s Account, and the Company shall have no obligation to the Participant or his or her Beneficiary with respect to such forfeited amount. If a Participant receives an
Unscheduled In-Service Distribution of either all or a part of his or her Account, then the Participant will be ineligible to participate in the Plan for the balance of the calendar year. The Plan Administrator will in its sole discretion determine
the Account or Accounts from which to debit the amount of the distribution. 
 Section 7. Designation of Beneficiaries A
Participant may designate a beneficiary or beneficiaries (which may be an entity other than a natural person) to receive payments to be made following such Participant’s death. At any time, and from time to time, any such 

  

 13 

 
designation may be changed or canceled by the Participant without the consent of the beneficiary. Any such designation, change or cancellation must be made
by written notice filed with the Plan Administrator. If a Participant designates more than one beneficiary, any payments to such beneficiaries shall be made in equal amounts unless the Participant has designated otherwise, in which case the payments
shall be made as designated by the Participant. If no beneficiary is named by the Participant, or if a beneficiary has been designated and such designation has been canceled, payment shall be made to the Participant’s estate. Notwithstanding
the above, if a Participant has designated his or her spouse as beneficiary, and subsequent to such designation becomes divorced from such spouse, then the designation previously filed will be deemed revoked as to such former spouse, unless
specifically reaffirmed in writing by the Participant subsequent to the date of divorce. 
 Section 8. Amendment and
Termination The Board of Directors of Ingersoll Rand (“Board”) may amend or terminate the Plan at any time; provided, however, that, no such amendment or termination shall impair the rights of a Participant with
respect to amounts then credited to his Account under the Plan, and further provided, however, that no amendment or termination may be effected with respect to a Participant prior to the end of two years following a Change of Control, except
with the written consent of such an affected Participant. 
 Section 9. Administration The Plan shall be administered by the
Compensation Committee appointed by the Board (the “Committee”). The Committee may delegate any or all of its administrative powers and duties to one or more employees of Ingersoll Rand or its affiliates and subsidiaries. In addition to
such functions and responsibilities specifically reserved to the Plan Administrator under the Plan, the Plan Administrator shall have full power and authority, subject to the provisions of the Plan, to construe and interpret and carry out the terms
of the Plan, and to exercise discretion where necessary or appropriate in the interpretation of the Plan, and all decisions by the Plan Administrator shall be final and binding on all affected parties. In addition to such powers, the Plan
Administrator has the authority to modify eligibility criteria for the Plan, to select or change investment options under the Plan, to appoint and replace the trustee of the grantor trust to be established hereunder, to establish rules and
regulations for efficient plan 

  

 14 

 
administration, to employ and rely upon advisers, and shall have such other powers, duties and responsibilities as are customary for plans such as the Plan,
all as determined by the Plan Administrator. The Plan is intended to be administered in a manner consistent with the requirements, where applicable, of Section 409A of the Code. Where reasonably possible and practicable, the Plan shall be
administered in a manner to avoid the imposition on Participants of immediate tax recognition and additional taxes pursuant to such Section 409A. Notwithstanding anything else contained herein to the contrary, neither the Plan Administrator nor
the Company shall be in breach of its obligations hereunder, nor liable for any interest or other payments, if the Company fails to make any payments hereunder on the stated date on which such payment is due.
 Section 10. Miscellaneous 
 a.
Unfunded Plan. The Employer shall not be obligated to fund its liabilities under the Plan, the Accounts established for each Participant electing deferment shall not constitute a trust, and a Participant shall have no claim against the
Company or its assets other than as an unsecured general creditor. Without limiting the generality of the foregoing, the Participant’s claim at any time shall be for the amount credited to such Participant’s Accounts at such time.
Notwithstanding the foregoing, the Company will establish a grantor trust to assist it in meeting its obligations hereunder, which grantor trust may be funded by the Company at such levels as it determines from time to time; provided,
however, that in no event shall any Participant have any interest in such trust or property other than that of an unsecured general creditor of the Company. Notwithstanding the above, upon the occurrence of a Change of Control, the Company will
immediately contribute to such grantor trust such amounts of cash and Company stock as are necessary to satisfy all claims for benefits under the Plan, on an assumed termination basis at such date. 
 b. Non-Alienation. The right of a Participant to receive a distribution of the value of such Participant’s Account payable pursuant to
the Plan shall not be subject to assignment, alienation, attachment, garnishment or other similar process. 
 c. No Right to Continued
Employment. Nothing in this Plan shall be construed to give any Participant the right to continued employment by the Employer, nor shall it limit the Employer’s ability to affect the terms and conditions of a Participant’s
employment with the Employer. 
  

 15 

 d. Governing Law. This Plan and all rights and obligations hereunder shall be construed in
accordance with and governed by the laws of the State of Delaware, to the extent such laws are not superseded by federal law. The Plan is intended to be a nonqualified deferred compensation plan maintained for a select group of management or highly
compensated individuals. As such, it is generally subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). While ERISA generally applies to the Plan, Parts 2 (Participation and Vesting), 3 (Funding),
and 4 (Fiduciary Responsibility) of Title I of ERISA do not apply. Part 5 (Administration and Enforcement) applies, and the Part 1 (Reporting and Disclosure) requirements apply to the Plan, but only on a limited basis. 
 e. Withholding. The Company may withhold from any amounts payable hereunder, whether in cash or shares, such federal, state or local taxes
as may be deemed required to be withheld pursuant to applicable law or regulations. 
 f. Compliance. A Participant shall have
no right to receive payment (in any form) with respect to his or her Accounts until legal and contractual obligations of the Employer relating to the making of such payments shall have been complied with in full. In addition, the Plan Administrator
shall impose such restrictions, limitations, rules and regulations as it may deem advisable in order to comply with the applicable federal securities laws, the requirements of the New York Stock Exchange or any other applicable stock exchange or
automated quotation system, any applicable state securities laws, any provision of the Company’s Certificate of Incorporation or Bylaws, or any other law, regulation, rule, or binding contract to which the Company or the Employer is subject.

 IN WITNESS WHEREOF, the Company has caused this amendment and restatement to be executed by its duly authorized representative as of July 1, 2009.

  

			
	Trane Inc.
		
	By:	 	/s/ Barbara A. Santoro
		 	 Barbara A. Santoro
 Vice President &
Secretary

  

 16

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