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Exhibit 10.3
MATERION CORPORATION
Restricted Stock Units Agreement (Stock-Settled) 
WHEREAS, __________ (the “Grantee”) is an employee of Materion Corporation, an Ohio corporation (the “Corporation”) or a Subsidiary; and
WHEREAS, the execution of an agreement in the form hereof (this “Agreement”) has been authorized by a resolution of the Compensation Committee (the “Committee”) of the Board of Directors of the Corporation that was duly adopted on _________ __, 2022.
NOW, THEREFORE, pursuant to the Materion Corporation 2006 Stock Incentive Plan (As Amended and Restated as of May 3, 2017) (the “Plan”), the Corporation hereby confirms to the Grantee the grant, effective on __________, 20__ (the “Date of Grant”), of ___ Restricted Stock Units (as defined in the Plan) (“RSUs”), subject to the terms and conditions of the Plan and the following additional terms, conditions, limitations and restrictions:
Article I

DEFINITIONS
All terms used but not defined herein with initial capital letters that are defined in the Plan shall have the meanings assigned to them in the Plan when used herein with initial capital letters.
Article II

CERTAIN TERMS OF RESTRICTED STOCK UNITS
1.RSUs Not Transferable.  The RSUs covered by the Agreement shall not be transferable other than by will or pursuant to the laws of descent and distribution prior to payment.
2.Vesting and Payment of RSUs.
(a)General.  Subject to the provisions of Sections 2(b), 2(c) and 2(d) of this Article II, the RSUs covered by this Agreement shall become nonforfeitable as to one-

third of the number of RSUs on each of the first three anniversaries of the Date of Grant (each, a “Vesting Date”), subject to the Grantee having remained in the continuous employ of the Corporation or a Subsidiary on each such Vesting Date and shall be payable by the issuance of Common Shares to the Grantee on each such Vesting Date.
(b)Death or Disability.  Notwithstanding the provisions of Section 2(a) of this Article II, all of the RSUs covered by this Agreement (to the extent they remain unvested) shall immediately become nonforfeitable and payable if the Grantee dies or becomes permanently disabled (as hereinafter defined) while in the employ of the Corporation or a Subsidiary prior to a Vesting Date.  The Grantee shall be considered to have become permanently disabled if the Grantee has suffered a permanent disability within the meaning of the long-term disability plan of the Corporation in effect for, or applicable to, the Grantee and is “disabled” within the meaning of Section 409A(a)(2)(C) of the Code.
(c)Retirement.
(i)If the Grantee should Retire (as hereinafter defined) after the Date of Grant, the RSUs covered by this Agreement shall be forfeited, unless the Committee determines that, notwithstanding the requirement of continuous employment contained in Section 2(a) of this Article II, such RSUs, to the extent they remain unvested, will continue to vest and become payable on the Vesting Date(s) when payment would otherwise have been made under Section 2 of this Article II if the Grantee had continued employment through such date(s).
(ii)“Retire” shall mean the Grantee’s retirement from the Corporation or a Subsidiary at (A) age 65 or older or (B) at age 55 or older with 10 or more years of continuous employment with the Corporation or a Subsidiary.  
(d)Change in Control.
(i)Notwithstanding Section 2(a) of this Article II above, the RSUs granted hereby (to the extent they remain unvested) shall immediately become 
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nonforfeitable if at any time during the employment of the Grantee and prior to a Vesting Date:
(A)a Change in Control shall occur after the Date of Grant; and
(B)within two years following the Change in Control the Grantee’s employment with the Corporation or a Subsidiary is terminated by the Grantee as a Termination for Good Cause (as defined in Section 2(f) of this Article II) or the Grantee is terminated by the Corporation other than as a Termination for Cause (as defined in Section 2(e) of this Article II).  If the Change in Control constitutes a “change in control” for purposes of Section 409A of the Code and if the Grantee incurs a “separation from service” for purposes of Section 409A of the Code within two years following such Change in Control, payment for any RSUs which are no longer subject to a substantial risk of forfeiture will be made upon the Grantee’s separation from service, provided however, that if at such time the Grantee is a “specified employee” as determined pursuant to the identification methodology adopted by the Corporation in compliance with Section 409A of the Code, the date of payment for the RSUs shall be the tenth business day of the seventh month after the date of the Grantee’s separation from service (or if earlier the Grantee’s death).  If payment is not made pursuant to the preceding sentence because the Change in Control does not constitute a “change in control” for purposes of Section 409A of the Code, then payment shall be made at the earliest date that payment otherwise would have been made 
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under Section 2 of this Article II if no Change in Control had occurred, assuming continued employment through such date.
(ii)Notwithstanding anything in this Section 2(d) to the contrary, in connection with a Business Combination,  the result of which is that the Outstanding Company Voting Securities are exchanged for or become exchangeable for securities of another entity, cash or a combination thereof, if the entity resulting from such Business Combination does not assume the RSUs evidenced hereby and the Corporation’s obligations hereunder, or replace the RSUs evidenced hereby with a substantially equivalent security of the entity resulting from such Business Combination, then the RSUs evidenced hereby (to the extent they remain unvested) shall become nonforfeitable as of immediately prior to such Business Combination.  Payment for any RSUs which are no longer subject to a substantial risk of forfeiture as determined under the original terms of this award will be upon the Change in Control; provided, however, if the Change in Control does not constitute a “change in control” for purposes of Section 409A(a)(2)(A)(v) of the Code, then payment for the RSUs will be made upon the Vesting Date(s) that payment otherwise would have been made under Section 2 of this Article II if no Change in Control had occurred, assuming continued employment through such date(s).
(e)“Termination for Cause” means a termination of Grantee’s employment by the Corporation for “Cause” (as defined in Section 7(f) of this Article II).
(f)“Termination for Good Cause” shall mean the Grantee’s termination of the Grantee’s employment with the Corporation or a Subsidiary as a result of the occurrence of any of the following:
(i)a change in the Grantee’s principal location of employment that is greater than 50 miles from its location as of the date hereof without the Grantee’s 
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consent; provided, however, that the Grantee hereby acknowledges that the Grantee may be required to engage in travel in connection with the performance of the Grantee’s duties hereunder and that such travel shall not constitute a change in the Grantee’s principal location of employment for purposes hereof;
(ii)a material diminution in the Grantee’s base compensation;
(iii)a change in the Grantee’s position with the Corporation without the Grantee’s consent such that there is a material diminution in the Grantee’s authority, duties or responsibilities; or
(iv)any other action or inaction that constitutes a material breach by the Corporation of the agreement under which the Grantee provides services.
Notwithstanding the foregoing, the Grantee’s termination of the Grantee’s employment with the Corporation as a result of the occurrence of any of the foregoing shall not constitute a “Termination for Good Cause” unless (A) the Grantee gives the Corporation written notice of such occurrence within 90 days of such occurrence and such occurrence is not cured by the Corporation within 30 days of the date on which such written notice is received by the Corporation and (B) the Grantee actually terminates his or her employment with the Corporation prior to the 365th day following such occurrence.
3.Form and Time of Payment of RSUs/Withholding Taxes.  Except as otherwise provided for in Section 2 of Article III, payment for the RSUs that become nonforfeitable as provided herein shall be made in form of Common Shares at the time the RSUs are payable in accordance with Section 2 of this Article II.  To the extent that the Corporation is required to withhold federal, state, local or foreign taxes or other amounts in connection with the delivery of Common Shares to the Grantee or any other person under this Agreement, the number of Common Shares to be delivered to the Grantee or such other person shall be reduced (based on the fair market value per Common Share as of the date the RSUs are reduced) to provide for the taxes required to be withheld with any fractional shares that 
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would otherwise be delivered being rounded up to the next nearest whole share.  In no event will the fair market value of the Common Shares to be withheld and delivered pursuant to this Section to satisfy applicable withholding taxes exceed the minimum amount required to be withheld, unless (a) an additional amount can be withheld or delivered, and not result in adverse accounting or other consequences as reasonably determined by the Committee (it being understood that the failure of such reasonable determination to be correct shall not constitute a violation of the terms of the Plan), and (b) it is permitted by the Committee.
4.Forfeiture of RSUs.  To the extent they remain unvested, the RSUs shall be forfeited, except as otherwise provided in Section 2(b), 2(c) or 2(d) of this Article II above, if the Grantee ceases to be employed by the Corporation or a Subsidiary prior to a Vesting Date.
5.Dividend Equivalents.  From and after the Date of Grant and until the earlier of (a) the time when the RSUs vest and become nonforfeitable and payable in accordance with Section 2 of this Article II or (b) the time when the Grantee’s right to receive Common Shares  in payment of the RSUs is forfeited in accordance with Section 4 of this Article II, on the date that the Corporation pays a cash dividend (if any) to holders of Common Shares generally, the Grantee shall be entitled to a number of additional whole RSUs (rounded up or down to the nearest whole RSU) determined by dividing (i) the product of (A) the dollar amount of the cash dividend paid per Common Share on such date and (B) the total number of RSUs covered by this Agreement (including dividend equivalents credited with respect thereto) previously credited to the Grantee as of such date, by (ii) the Market Value per Share on such date.  Such dividend equivalents (if any) shall be subject to the same terms and conditions and shall be paid or forfeited in the same manner and at the same time as the RSUs to which the dividend equivalents were credited.
6.Effect of Detrimental Activity.  Notwithstanding anything herein to the contrary, if the Grantee, either during employment by the Corporation or a Subsidiary or within 
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one year after termination of such employment, shall engage in any Detrimental Activity (as hereinafter defined), and the Board shall so find, the Grantee shall:
(a)Forfeit all RSUs held by the Grantee.
(b)Return to the Corporation all Common Shares that the Grantee has not disposed of that were paid out pursuant to this Agreement within a period of one year prior to the date of the commencement of such Detrimental Activity.
(c)With respect to any Common Shares that the Grantee has disposed of that were paid out pursuant to this Agreement within a period of one year prior to the date of the commencement of such Detrimental Activity, pay to the Corporation in cash the value of such Common Shares on the date such Common Shares were paid out.
(d)To the extent that the amounts referred to above in Section 6(b) and 6(c) of this Article II are not paid to the Corporation, the Corporation may set off the amounts so payable to it against any amounts that may be owing from time to time by the Corporation or a Subsidiary to the Grantee, whether as wages, deferred compensation or vacation pay or in the form of any other benefit or for any other reason, except that no setoff shall be permitted against any amount that constitutes “deferred compensation” within the meaning of Section 409A of the Code.
7.For purposes of this Agreement, the term "Detrimental Activity" shall include:
(a)    Engaging in any activity in violation of the Section entitled "Competitive Activity; Confidentiality; Nonsolicitation" in the Severance Agreement between the Corporation and the Grantee, if such agreement is in effect at the date hereof, or in violation of any corresponding provision in any other agreement between the Corporation and the Grantee in effect on the date hereof providing for the payment of severance compensation; or
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(ii)If no such severance agreement is in effect as of the date hereof or if a severance agreement does not contain a Section corresponding to "Competitive Activity; Confidentiality; Nonsolicitation":
(A)Competitive Activity During Employment.  Competing with the Corporation anywhere within the United States during the term of the Grantee's employment, including, without limitation:
(I)entering into or engaging in any business which competes with the business of the Corporation;
(II)soliciting customers, business, patronage or orders for, or selling, any products or services in competition with, or for any business that competes with, the business of the Corporation;
(III)diverting, enticing or otherwise taking away any customers, business, patronage or orders of the Corporation or attempting to do so; or
(IV)promoting or assisting, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any business which competes with the business of the Corporation.
(B)Following Termination.  For a period of one year following the Grantee's termination date:
(I)entering into or engaging in any business which competes with the Corporation's business within the Restricted Territory (as hereinafter defined);
(II)soliciting customers, business, patronage or orders for, or selling, any products or services in competition with, or for any business, wherever located, that competes with, the Corporation's business within the Restricted Territory;
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(III)diverting, enticing or otherwise taking away any customers, business, patronage or orders of the Corporation within the Restricted Territory, or attempting to do so; or
(IV)promoting or assisting, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any business which competes with the Corporation's business within the Restricted Territory.
For the purposes of Sections 7(a)(ii)(A) and (B) above, inclusive, but without limitation thereof, the Grantee will be in violation thereof if the Grantee engages in any or all of the activities set forth therein directly as an individual on the Grantee's own account, or indirectly as a partner, joint venturer, employee, agent, salesperson, consultant, officer and/or director of any firm, association, partnership, corporation or other entity, or as a stockholder of any corporation in which the Grantee or the Grantee's spouse, child or parent owns, directly or indirectly, individually or in the aggregate, more than five percent (5%) of the outstanding stock.
(C)"The Corporation."  For the purposes of this Section 7(a)(ii) of Article II, the "Corporation" shall include any and all direct and indirect subsidiaries, parents, and affiliated, or related companies of the Corporation for which the Grantee worked or had responsibility at the time of termination of the Grantee's employment and at any time during the two year period prior to such termination.
(D)"The Corporation's business."  For the purposes of this Section 7 of Article II inclusive, the Corporation's business is defined to be the integrated production of high performance advanced engineered materials used in a variety of electrical, electronic, thermal and structural applications serving the consumer 
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electronics, industrial components and commercial aerospace, defense and science, medical, energy, automotive electronics, telecommunications infrastructure and appliance markets, as further described in any and all manufacturing, marketing and sales manuals and materials of the Corporation as the same may be altered, amended, supplemented or otherwise changed from time to time, or of any other products or services substantially similar to or readily substitutable for any such described products and services.
(E)"Restricted Territory."  For the purposes of Section 7(a)(ii)(B) of Article II, the Restricted Territory shall be defined as and limited to:
(I)the geographic area(s) within a one hundred mile radius of any and all of the Corporation’s location(s) in, to, or for which the Grantee worked, to which the Grantee was assigned or had any responsibility (either direct or supervisory) at the time of termination of the Grantee's employment and at any time during the two-year period prior to such termination; and
(II)all of the specific customer accounts, whether within or outside of the geographic area described in (I) above, with which the Grantee had any contact or for which the Grantee had any responsibility (either direct or supervisory) at the time of termination of the Grantee's employment and at any time during the two-year period prior to such termination.
(F)Extension.  If it shall be judicially determined that the Grantee has violated any of the Grantee's obligations under Section 7(a)(ii)(B) of Article II, then the period applicable to each obligation that the Grantee shall have been determined to have violated shall automatically be extended by a period of time equal in length to the period during which such violation(s) occurred.
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(b)Non-Solicitation.  Except as otherwise provided in Section 7(a)(i) of Article II, Detrimental Activity shall also include directly or indirectly at any time soliciting or inducing or attempting to solicit or induce any employee(s), sales representative(s), agent(s) or consultant(s) of the Corporation and/or of its parents, or its other subsidiaries or affiliated or related companies to terminate their employment, representation or other association with the Corporation and/or its parent or its other subsidiary or affiliated or related companies.
(c)Further Covenants.  Except as otherwise provided in Section 7(a)(i) of Article II, Detrimental Activity shall also include:
(i)directly or indirectly, at any time during or after the Grantee's employment with the Corporation, disclosing, furnishing, disseminating, making available or, except in the course of performing the Grantee's duties of employment, using any trade secrets or confidential business and technical information of the Corporation or its customers or vendors, including without limitation as to when or how the Grantee may have acquired such information.  Such confidential information shall include, without limitation, the Corporation's unique selling, manufacturing and servicing methods and business techniques, training, service and business manuals, promotional materials, training courses and other training and instructional materials, vendor and product information, customer and prospective customer lists, other customer and prospective customer information and other business information.  The Grantee specifically acknowledges that all such confidential information, whether reduced to writing, maintained on any form of electronic media, or maintained in the Grantee's mind or memory and whether compiled by the Corporation, and/or the Grantee, derives independent economic value from not being readily known to or ascertainable by proper means by others who can obtain economic value from its 
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disclosure or use, that reasonable efforts have been made by the Corporation to maintain the secrecy of such information, that such information is the sole property of the Corporation and that any retention and use of such information by the Grantee during the Grantee's employment with the Corporation (except in the course of performing the Grantee's duties and obligations to the Corporation) or after the termination of the Grantee's employment shall constitute a misappropriation of the Corporation's trade secrets.
(ii)Upon termination of the Grantee's employment with the Corporation, for any reason, the Grantee's failure to return to the Corporation, in good condition, all property of the Corporation, including without limitation, the originals and all copies of any materials which contain, reflect, summarize, describe, analyze or refer or relate to any items of information listed in Section 7(c)(i) of Article II of this Agreement.
(d)Discoveries and Inventions.  Except as otherwise provided in Section 7(a)(i) of Article II, Detrimental Activity shall also include the failure or refusal of the Grantee to assign to the Corporation, its successors, assigns or nominees, all of the Grantee's rights to any discoveries, inventions and improvements, whether patentable or not, made, conceived or suggested, either solely or jointly with others, by the Grantee while in the Corporation's employ, whether in the course of the Grantee's employment with the use of the Corporation's time, material or facilities or that is in any way within or related to the existing or contemplated scope of the Corporation's business.  Any discovery, invention or improvement relating to any subject matter with which the Corporation was concerned during the Grantee's employment and made, conceived or suggested by the Grantee, either solely or jointly with others, within one year following termination of the Grantee's employment under this Agreement or any successor agreements shall be irrebuttably presumed to have been so made, conceived or 
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suggested in the course of such employment with the use of the Corporation's time, materials or facilities.  Upon request by the Corporation with respect to any such discoveries, inventions or improvements, the Grantee will execute and deliver to the Corporation, at any time during or after the Grantee's employment, all appropriate documents for use in applying for, obtaining and maintaining such domestic and foreign patents as the Corporation may desire, and all proper assignments therefor, when so requested, at the expense of the Corporation, but without further or additional consideration.
(e)Work Made For Hire.  Except as otherwise provided in Section 7(a)(i) of Article II, Detrimental Activity shall also include violation of the Corporation's rights in any or all work papers, reports, documentation, drawings, photographs, negatives, tapes and masters therefor, prototypes and other materials (hereinafter, "items"), including without limitation, any and all such items generated and maintained on any form of electronic media, generated by Grantee during the Grantee's employment with the Corporation.  The Grantee acknowledges that, to the extent permitted by law, all such items shall be considered a "work made for hire" and that ownership of any and all copyrights in any and all such items shall belong to the Corporation.  The item will recognize the Corporation as the copyright owner, will contain all proper copyright notices, e.g., "(creation date) [Corporation’s Name], All Rights Reserved," and will be in condition to be registered or otherwise placed in compliance with registration or other statutory requirements throughout the world.
(f)Termination for Cause.  Except as otherwise provided in Section 8(a)(i) of Article II, Detrimental Activity shall also include activity that results in termination for Cause.  For the purposes of this Section, "Cause" shall mean that, the Grantee shall have:
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(i)been convicted of a criminal violation involving fraud, embezzlement, theft or violation of federal antitrust statutes or federal securities laws in connection with his duties or in the course of his employment with the Corporation or any affiliate of the Corporation;
(ii)committed intentional wrongful damage to property of the Corporation or any affiliate of the Corporation; or
(iii)committed intentional wrongful disclosure of secret processes or confidential information of the Corporation or any affiliate of the Corporation;
and any such act shall have been demonstrably and materially harmful to the Corporation.
(g)Other Injurious Conduct.  Detrimental Activity shall also include any action contributing to a restatement of the Corporation’s financials if this award of RSUs to the Grantee is favorably affected by such restatement as provided under Section 10D of the Exchange Act and any applicable rules or regulations that may be promulgated from time to time by the Securities and Exchange Commission or any national securities exchange or national securities association on which the Common Shares may be traded, and any other conduct or act determined to be injurious, detrimental or prejudicial to any significant interest of the Corporation or any subsidiary unless the Grantee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Corporation.  
(h)Reasonableness.  The Grantee acknowledges that the Grantee's obligations under this Section 7 of Article II are reasonable in the context of the nature of the Corporation’s business and the competitive injuries likely to be sustained by the Corporation if the Grantee were to violate such obligations.  The Grantee further acknowledges that this Agreement is made in consideration of, and is adequately supported by the agreement of the Corporation to perform its obligations under this 
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Agreement and by other consideration, which the Grantee acknowledges constitutes good, valuable and sufficient consideration.
(i)Acknowledgement.  Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement prevents the Grantee from providing, without prior notice to the Corporation, information to governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations, and for purpose of clarity the Grantee is not prohibited from providing information voluntarily to the Securities and Exchange Commission pursuant to Section 21F of the Exchange Act.
Article III

GENERAL PROVISIONS
1.Compliance with Law.  The Corporation shall make reasonable efforts to comply with all applicable federal and state securities laws.
2.Adjustments.  The RSUs and the number of Common Shares issuable for each RSU and the other terms and conditions of the grant evidenced by this Agreement are subject to adjustment as provided in Section 11 of the Plan.
3.Continuous Employment.  For purposes of this Agreement, the continuous employment of the Grantee with the Corporation or a Subsidiary shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Corporation or a Subsidiary, by reason of the transfer of his employment among the Corporation and its Subsidiaries or a leave of absence approved by the Board.
4.No Employment Contract; Right to Terminate Employment; Clawback Policy.  The grant of the RSUs to the Grantee is a voluntary, discretionary award being made on a one-time basis and it does not constitute a commitment to make any future awards.  The grant of the RSUs and any payments made hereunder will not be considered salary or other compensation for purposes of any severance pay or similar allowance, except as otherwise 
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required by law.  Nothing in this Agreement will give the Grantee any right to continue employment with the Corporation or any Subsidiary, as the case may be, or interfere in any way with the right of the Corporation or a Subsidiary to terminate the employment of the Grantee at any time.  Notwithstanding anything in this Agreement to the contrary, the Grantee acknowledges and agrees that this Agreement and the award described herein (and any settlement thereof) are subject to the terms and conditions of the Corporation’s clawback policy (if any) as may be in effect from time to time including specifically to implement Section 10D of the Exchange Act and any applicable rules or regulations promulgated thereunder (including applicable rules and regulations of any national securities exchange on which the Common Shares may be traded) (the “Compensation Recovery Policy”), and that relevant sections of this Agreement shall be deemed superseded by and subject to the terms and conditions of the Compensation Recovery Policy from and after the effective date thereof.
5.Relation to Other Benefits.  Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken into account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained by the Corporation or a Subsidiary and shall not affect the amount of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Corporation or a Subsidiary.
6.Information.  Information about the Grantee and the Grantee’s participation in the Plan may be collected, recorded and held, used and disclosed for any purpose related to the administration of the Plan.  The Grantee understands that such processing of this information may need to be carried out by the Corporation and its Subsidiaries and by third party administrators whether such persons are located within the Grantee’s country or elsewhere, including the United States of America.  The Grantee consents to the processing of information relating to the Grantee and the Grantee’s participation in the Plan in any one or more of the ways referred to above.
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7.Amendments.  Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable hereto; provided, however, that no amendment shall adversely affect the rights of the Grantee under this Agreement without the Grantee’s consent.  Notwithstanding the foregoing, the limitation requiring the consent of a Grantee to certain amendments shall not apply to any amendment that is deemed necessary by the Corporation to ensure compliance with Section 409A of the Code or Section 10D of the Exchange Act.
8.Severability.  In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.
9.Governing Law.  This Agreement is made under, and shall be construed in accordance with, the internal substantive laws of the State of Ohio.
10.    Compliance with Section 409A of the Code.  To the extent applicable, it is intended that this Agreement and the Plan comply with the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to the Grantee.  This Agreement and the Plan shall be administered in a manner consistent with this intent.  Reference to Section 409A of the Code is to Section 409A of the Internal Revenue Code of 1986, as amended, and will also include any regulations or any other formal guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service.
11.    Relation to Severance Agreement.  Section 2(d) of Article II hereof shall supersede the provisions of any Severance Agreement between the Grantee and the Corporation, in effect at the Date of Grant, providing for earlier vesting of the RSUs granted hereby in the event of a Change in Control.
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12.    Electronic Delivery.  The Corporation may, in its sole discretion, deliver any documents related to the RSUs and the Grantee’s participation in the Plan, or future awards that may be granted under the Plan, by electronic means or request the Grantee’s consent to participate in the Plan by electronic means.  The Grantee hereby consents to receive such documents by electronic delivery and, if requested, agrees to participate in the Plan through an on-line or electronic system established and maintained by the Corporation or another third party designated by the Corporation.
13.    Acknowledgement.  The Grantee acknowledges that the Grantee (a) has received a copy of the Plan, (b) has had an opportunity to review the terms of this Agreement and the Plan, (c) understands the terms and conditions of this Agreement and the Plan and (d) agrees to such terms and conditions.
14.    Successors and Assigns.  Without limiting Section 1 of Article II hereof, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, administrators, heirs, legal representatives and assigns of the Grantee, and the successors and assigns of the Corporation.
15.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same agreement.

[signature page follows]

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The undersigned Grantee hereby accepts the award granted pursuant to this Agreement on the terms and conditions set forth herein.
Dated:                                     
        [NAME]

Executed in the name of and on behalf of the Corporation at Mayfield Heights, Ohio as of this __ day of __________, 20__.
MATERION CORPORATION

By        
    

    -19-Exhibit 10.1

      

      

      

      CHANGE OF CONTROL AGREEMENT

       

      

      AGREEMENT by among Eaton Corporation plc, an Irish limited company (the “Company”),  Eaton Corporation, an Ohio corporation affiliated with the
        Company,  and _________________ (the “Executive”), dated as of the 27 day of April, 2022.

       

      The Board of Directors of the Company (the “Board” )  has determined that it is in the best interests of the Company and its shareholders to assure
        that the Company and its Affiliates (as defined below) will have the continued dedication of the Executive, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company.  The Board believes it is
        imperative to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive's full attention and dedication to the Company
        and its Affiliates currently and in the event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefits arrangements upon a Change of Control which ensure that the compensation and benefits
        expectations of the Executive will be satisfied and which are competitive with those of other corporations.  Therefore, in order to accomplish these objectives, the Board has caused the Company to enter into this Agreement.

       

      NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

       

      1.            Certain Definitions.

       

      (a)          The “Effective Date” shall mean the first date during the Change of Control Period (as defined in Section 1(b)) on which a
          Change of Control (as defined in Section 2) occurs.  Anything in this Agreement to the contrary notwithstanding, if the Executive's employment with the Company is terminated within the six months prior to the date on which the Change of Control
          occurs, and if it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in
          connection with or anticipation of a Change of Control (such a termination of employment, an “Anticipatory Termination”), then for all purposes of this Agreement the “Effective Date” shall mean the date immediately prior to the date of such
          termination of employment and the Executive shall be entitled to receive the payments and benefits provided hereunder to the same extent as if the Executive’s Date of Termination had occurred on the date of the Change of Control.

       

      
        
          

      

      
      (b)          The “Change of Control Period” shall mean the period commencing on the date hereof and ending on the second anniversary of
          the date hereof; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary of such date (such date and each annual anniversary thereof shall be hereinafter referred to as the “Renewal Date”),
          unless previously terminated, the Change of Control Period shall be automatically extended so as to terminate two years from such Renewal Date, unless at least 60 days prior to the Renewal Date the Company shall give notice to the Executive that
          the Change of Control Period shall not be so extended.

       

      2.            Change of Control.  For the purpose of this Agreement, a “Change of Control” shall mean:

       

      (a)          The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
          Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 25% or more of either (i) the then outstanding Ordinary Shares of the Company
          (the “Outstanding Company Ordinary Shares”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”);
          provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control:  (i) any acquisition approved by the Board directly from the Company, (ii) any acquisition approved by the Board by
          the Company or any entity under the control of, or under control with, the Company (an “Affiliate”), (iii) any acquisition by a new parent entity if, following such acquisition, the shareholders of the Company holding the Outstanding Company
          Ordinary Shares immediately prior to that acquisition own immediately after such acquisition the common equity interests of such parent entity in substantially the same proportions as they owned the Outstanding Company Ordinary Shares, or (iv)
          any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or an Affiliate; or

       

      (b)          Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at
          least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company's shareholders, was approved by a vote of at least two-thirds of the
          directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an
          actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

       

      
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      (c)          Consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or
          substantially all of the assets of the Company or the acquisition of assets of another corporation (a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities
          who were the beneficial owners, respectively, of the Outstanding Company Ordinary Shares and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 55% of,
          respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such
          Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company's assets either directly or through one or more subsidiaries) in substantially
          the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Ordinary Shares and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any employee benefit plan
          (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 25% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from
          such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members
          of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business
          Combination; or

       

      (d)          Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

       

      
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      Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred as a result of any transaction or series of transactions which the Executive, or
        any entity in which the Executive is a partner, officer or more than 50% owner initiates, if immediately following the transaction or series of transactions that would otherwise constitute a Change of Control, the Executive, either alone or
        together with other individuals who are executive officers of the Company immediately prior thereto, beneficially owns, directly or indirectly, more than 10% of the then outstanding Ordinary Shares of the Company or the corporation resulting from
        the transaction or series of transactions, as applicable, or of the combined voting power of the then outstanding voting securities of the Company or such resulting corporation.

       

      3.            Employment Period.  The Company hereby agrees to continue the Executive in its employ, or cause an Affiliate to
          continue such employment, and the Executive hereby agrees to remain in the employ of the Company or relevant Affiliate, subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the
          second anniversary of such date (the “Employment Period”).

       

      4.            Terms of Employment.

       

      (a)          Position and Duties.  (i) During the Employment Period, (A) the Executive's position (including status, offices,
          titles and reporting requirements), authority, duties and responsibilities shall be at least commensurate in all material respects with the most significant of those held, exercised and assigned to the Executive at any time during the 120‐day
          period immediately preceding the Effective Date and (B) the Executive's services shall be performed (x) remotely (and in accordance with policies of the Company or applicable Affiliate in effect from time to time), (y) at the location where the
          Executive was employed immediately preceding the Effective Date, or (z) at any office or location less than 35 miles from such location (in any case subject to travel requirements reasonably consistent with those prior to the Effective Date).

       

      (ii)          During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the
          Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, to use the
          Executive's reasonable best efforts to perform faithfully and efficiently such responsibilities.  During the Employment Period it shall not be a violation of this Agreement for the Executive to (A) serve on corporate, civic or charitable boards
          or committees , (B) deliver lectures, fulfill speaking engagements or teach at educational institutions and (C) manage personal investments, so long as such activities do not materially interfere with the performance of the Executive's
          responsibilities as an employee of the Company in accordance with this Agreement.  It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior to the Effective Date, the continued
          conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date shall not thereafter be deemed to interfere with the performance of the Executive's responsibilities to the Company.

       

      
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      (b)          Compensation.

       

      (i)           Base Salary.  During the Employment Period, the Executive shall receive an annual base salary (“Annual Base
          Salary”), which shall be paid in cash at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its
          Affiliates in respect of the twelve‐month period immediately preceding the month in which the Effective Date occurs.  During the Employment Period, the Annual Base Salary shall be increased no more than 12 months after the last salary increase
          awarded to the Executive prior to the Effective Date, and thereafter at least annually, in each case by a percentage not less than the average annual percentage merit increase in the Executive's base salary during the five (5) full calendar years
          (or such lesser number of years that the Executive has been employed by the Company and its Affiliates) immediately preceding the Effective Date.  Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the
          Executive under this Agreement.  Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased.

       

      (ii)          Annual Bonus.  In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during
          the Employment Period, an annual bonus (the “Annual Bonus”) in cash in an amount (the “Annual Bonus Amount”) at least equal to the Executive's target bonus amount  (as defined in the Eaton Executive Incentive Plan, Senior Executive Incentive
          Plan, or any successor plan, as applicable (the “Applicable Incentive Plan”)) for the most recent year for which a target bonus amount was established before the Effective Date under the Applicable Incentive Plan, adjusted by the average of the
          Executive's individual performance rating for each of the three most recent years ended before the Effective Date, but eliminating any Corporate Performance Factor (as defined in the Applicable Incentive Plan).  Each such Annual Bonus shall be
          paid no later than March 15th of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus in accordance with the provisions of any applicable
          Eaton deferred compensation plan (a “Deferred Compensation Plan”).

       

      
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      (iii)          Incentive, Savings and Retirement Plans.  During the Employment Period, the Executive shall be entitled to
          participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other similarly-situated executives of the Company and its Affiliates (including without limitation the Company's Deferred
          Compensation Plan, Limited Eaton Service Supplemental Retirement Income Plan, long-term Executive Strategic Incentive Plan (or successor long-term incentive plan) and Supplemental and/or Excess Benefits Plans, as and to the extent those plans are
          in effect from time to time), but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any,
          that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its Affiliates for the Executive under
          such plans, practices, policies and programs as in effect at any time during the 120‐day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other
          similarly-situated executives of the Company and its Affiliates.

       

      (iv)          Welfare Benefit Plans.  During the Employment Period, the Executive and/or the Executive's family, as the case may
          be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its Affiliates (including, without limitation, medical, prescription, dental,
          disability, salary continuance, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other similarly-situated executives of the Company and its Affiliates, but in no
          event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any
          time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other similarly-situated executives of the Company and its
          Affiliates.

       

      
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      (v)          Expenses.  During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all
          reasonable expenses incurred by the Executive in accordance with the most favorable policies, practices and procedures of the Company and its Affiliates in effect for the Executive at any time during the 120‐day period immediately preceding the
          Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other similarly-situated executives of the Company and its Affiliates.

       

      (vi)         Fringe Benefits.  During the Employment Period, the Executive shall be entitled to fringe benefits, including,
          without limitation, tax and financial planning services, if applicable, use of an automobile and/or payment of related expenses in accordance with the most favorable plans, practices, programs and policies of the Company and its Affiliates in
          effect for the Executive at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other similarly-situated executives of
          the Company and its Affiliates.

       

      (vi)         Office and Support Staff.  During the Employment Period but prior to any termination described in Sections 5 or 6
          herof, the Executive shall be entitled to an office or offices of a size and with furnishings and other appointments, and to exclusive personal administrative support and other assistance, at least equal to the most favorable of the foregoing
          provided to the Executive by the Company and its Affiliates at any time during the 120 day period immediately preceding the Effective Date or, if more favorable to the Executive, as provided generally at any time thereafter with respect to other
          similarly-situated executives of the Company and its Affiliates.

       

      (viii)       Vacation.  During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the
          most favorable plans, policies, programs and practices of the Company and its Affiliates as in effect for the Executive at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive, as in
          effect generally at any time thereafter with respect to other similarly-situated executives of the Company and its Affiliates.

       

      (ix)         Clawback Policy.  All compensation payable under this Agreement shall
          remain subject to the provisions of the Company’s Policy on Incentive Compensation, Stock Options and Other Equity Grants upon the Restatement of Financial Results, or its successor (the “Clawback Policy”), as in effect as of the Effective Date.

       

        

      
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      5.            Termination of Employment.

       

      (a)          Death or Disability.  The Executive's employment shall terminate automatically upon the Executive's death during the
          Employment Period.  If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to the Executive written notice in
          accordance with Section 14(b) of this Agreement of its intention to terminate the Executive's employment.  In such event, the Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by the
          Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, the Executive shall not have returned to full‐time performance of the Executive's duties.  For purposes of this Agreement, “Disability” shall mean
          the absence of the Executive from the Executive's duties with the Company on a full‐time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a
          physician selected by the Company or its insurers and acceptable to the Executive or the Executive's legal representative.

       

      (b)          Cause.  The Company or an Affiliate may terminate the Executive's employment during the Employment Period for Cause. 
          For purposes of this Agreement, “Cause” shall mean:

       

      (i)           the willful and continued failure of the Executive to perform substantially the Executive's duties with the Company or one
          of its Affiliates (other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Executive by the Board or the Chief Executive Officer of the
          Company which specifically identifies the manner in which the Board or Chief Executive Officer believes that the Executive has not substantially performed the Executive's duties;

       

      (ii)          the Executive pleading guilty or nolo contendere to, or being convicted of (a)  any felony or (b) any crime involving moral turpitude,
          dishonesty, fraud or unethical business conduct;

      

      

       (iii) the Participant’s material violation of the Company’s Code of Ethics or other applicable Company (or Affiliate’s) policies or procedures as are in effect from time
        to time; or

      

      

      
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      (iv) the Participant’s willful misconduct in the course of his or her continuous service, which is materially detrimental to the financial condition or business
        reputation of the Company or an affiliate, whether as a result of adverse publicity or otherwise.

      

      

      For purposes of this provision, no act or failure to act, on the part of the Executive, shall be considered “willful” unless it is done, or omitted to be done, by the
        Executive in bad faith or without reasonable belief that the Executive's action or omission was in the best interests of the Company and its Affiliates.  Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted
        by the Board or upon the instructions of the Chief Executive Officer of Eaton Corporation or a senior officer of the Company or an Affiliate or based upon the advice of counsel for the Company or an Affiliate shall be conclusively presumed to be
        done, or omitted to be done, by the Executive in good faith and in the best interests of the Company.  The cessation of employment of the Executive shall not be deemed to be for Cause unless and until there shall have been delivered to the
        Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-quarters of the entire membership of the Board at a meeting of the Board called and held for such purpose (after reasonable notice is provided to the
        Executive and the Executive is given an opportunity, together with counsel, to be heard before the Board), finding that, in the good faith opinion of the Board, the Executive is guilty of the conduct described in subparagraph (i) through (iv)
        above, and specifying the particulars thereof in detail.

       

      (c)          Good Reason.  The Executive's employment may be terminated by the Executive for Good Reason.  For purposes of this
          Agreement, “Good Reason” shall mean:

       

      (i)           the assignment to the Executive of any duties inconsistent in any respect with the Executive's position (including status,
          offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 4(a) of this Agreement, or any other action by the Company or an Affiliate which results in a diminution in such position, authority,
          duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company or Affiliate promptly after receipt of notice thereof given by the Executive;

       

      (ii)          any failure by the Company to comply with any of the provisions of Section 4(b) of this Agreement, other than an isolated,
          insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive;

       

      
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      (iii)          the Company (or an Affiliate) requiring the Executive to be based at any office or location other than as provided in
          Section 4(a)(i)(B) hereof or the Company (or an Affiliate) requiring the Executive to travel on Company business to a substantially greater extent than required immediately prior to the Effective Date; or

       

      (iv)          any purported termination by the Company or an Affiliate of the Executive's employment otherwise than as expressly
          permitted by this Agreement.

       

      For purposes of this Section 5(c), any good faith determination of “Good Reason” made by the Executive shall be conclusive.

       

      (d)          Notice of Termination.  Any termination by the Company for Cause, or by the Executive for Good Reason, shall be
          communicated by Notice of Termination to the other party hereto given in accordance with Section 14(b) of this Agreement.  For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific
          termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so
          indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice).  The failure by
          the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude
          the Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive's or the Company's rights hereunder.

       

      (e)          Date of Termination.  “Date of Termination” means (i) if the Executive's employment is terminated by the Company for
          Cause, or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein, as the case may be, (ii) if the Executive's employment is terminated by the Company other than for Cause or
          Disability, the date on which the Company notifies the Executive of such termination and (iii) if the Executive's employment is terminated by reason of death or Disability, the date of death of the Executive or the Disability Effective Date, as
          the case may be.  The Company and the Executive shall take all steps necessary (including with regard to any post-termination services by the Executive) to ensure that any termination described in this Section 5 constitutes a “separation from
          service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and notwithstanding anything contained herein to the contrary, the date on which such separation from service takes place shall be the
          “Date of Termination.”

       

      
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      6.            Obligations of the Companyupon Termination.

       

      (a)          Good Reason; Other Than for Cause, Death or Disability.  If, during the Employment Period, the Company or its
          Affiliate shall terminate the Executive's employment other than for Cause or Disability or the Executive shall terminate employment for Good Reason:

       

      (i)           except as otherwise provided in this Section 6(a), the Company shall pay, or cause its Affiliate to pay to the Executive in
          a lump sum in cash within 30 days after the Date of Termination the aggregate of the following amounts:

       

      A.          the sum of (1) the Executive's Annual Base Salary through the Date of Termination, to the extent not
          theretofore paid to the Executive, (2) the amount, if any, which has been earned by the Executive with respect to any completed Incentive Year under the Eaton Incentive Compensation Plan or any successor thereto, and any completed Award Period
          under the Eaton Executive Strategic Incentive Plan or any successor thereto, in each case to the extent not theretofore paid to the Executive, and (3) with respect to each Award Period under the Eaton Executive Strategic Incentive Plan or any
          successor thereto which ends after the Date of Termination, the amount determined pursuant to the applicable award agreement) (the amount described in clause (3), the “Pro-Rata Bonus,” and the sum of the amounts described in clauses (1), (2) and
          (3) shall be hereinafter referred to as the “Accrued Obligations”); and

       

      B.          the product of (1) three and (2) the sum of (x) the Executive's Annual Base Salary and (y) the Annual
          Bonus Amount;

       

      
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      (ii)          for three years after the Executive's Date of Termination, or such longer period as may be provided by the terms of the
          appropriate plan, program, practice or policy, the Company or its Affiliate shall continue benefits to the Executive and/or the Executive's family at least equal to those which would have been provided to them in accordance with the plans,
          programs, practices and policies described in Section 4(b)(iv) of this Agreement if the Executive's employment had not been terminated or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other
          similarly-situated executives of the Company and its Affiliates and their families, provided, however, that if the Executive becomes re-employed with another employer and is eligible to receive medical or other welfare benefits under another
          employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility, and for purposes of determining eligibility (but not the time
          of commencement of benefits) of the Executive for retiree benefits pursuant to such plans, practices, programs and policies, the Executive shall be considered to have remained employed for three years after the Date of Termination and to have
          retired on the last day of such period, and for purposes of any reimbursement of eligible expenses to the Executive and/or the Executive’s family under the plans, programs, practices and policies described in Section 4(b)(iv) of this Agreement
          incurred following the first eighteen months of continuation coverage under this Section 6(a)(ii), such reimbursement shall be made on or before the last day of the Executive’s taxable year following the taxable year in which the expense was
          incurred (the amount of continued coverage and benefits that the Company is obligated to provide pursuant to this paragraph in any given calendar year shall not affect the amount of continued coverage and benefits that the Company is obligated to
          provide in any other calendar year, and the Executive's right to have the Company provide such continued coverage and benefits may not be liquidated or exchanged for any other benefit); provided, further, that to the extent it is impossible or
          impracticable to provide  a specific employee benefit, the Company shall pay the Executive a cash amount equal to the Company cost of providing such benefit for similarly-situated active employees, payable at the same times as the costs for
          providing such benefits would have been incurred.

       

      (iii)          to the extent not theretofore paid or provided, the Company shall timely pay or provide to the Executive any other amounts
          or benefits required to be paid or provided or which the Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company or its Affiliates (such other amounts and benefits shall be hereinafter
          referred to as the “Other Benefits”); provided, however that to the extent that any Other Benefits are deferred compensation within the meaning of Section 409A of the Code and the Treasury Regulations promulgated thereunder and subject to the
          requirements of Section 409A of the Code, such Other Benefits shall not be paid or provided before the first business day that is six months after the Date of Termination.

       

      
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      Notwithstanding the foregoing, the Company shall pay to the Executive the amounts described in (A)(3) and (B) in a lump sum in cash on the first business day that is six
        months after the Date of Termination to the extent required by Section 409A of the Code.

       

      (b)          Death.  If the Executive's employment is terminated by reason of the Executive's death during the Employment Period,
          this Agreement shall terminate without further obligations to the Executive's legal representatives under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.  Accrued Obligations
          shall be paid to the Executive's estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination.  With respect to the provision of Other Benefits, the term Other Benefits as utilized in this Section 6(b)
          shall include, without limitation, and the Executive's estate and/or beneficiaries shall be entitled to receive, benefits at least equal to the most favorable benefits provided by the Company and Affiliates to the estates and beneficiaries of
          similarly-situated executives of the Company and such Affiliates under such plans, programs, practices and policies relating to death benefits, if any, as in effect with respect to other similarly-situated executives and their beneficiaries at
          any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive's estate and/or the Executive's beneficiaries, as in effect on the date of the Executive's death with respect to other
          similarly-situated executives of the Company and its Affiliates and their beneficiaries.

       

      (c)          Disability.  If the Executive's employment is terminated by reason of the Executive's Disability during the
          Employment Period, this Agreement shall terminate without further obligations to the Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.  Accrued Obligations shall be paid to the
          Executive in a lump sum in cash within 30 days of the Date of Termination; provided, however, that the Pro-Rata Bonus shall be paid on the first business day that is six months after the Date of Termination.  With respect to the provision of
          Other Benefits, the term Other Benefits as utilized in this Section 6(c) shall include, and the Executive shall be entitled after the Disability Effective Date to receive, disability and other benefits at least equal to the most favorable of
          those generally provided by the Company and its Affiliates to disabled executives and/or their families in accordance with such plans, programs, practices and policies relating to disability, if any, as in effect generally with respect to other
          similarly-situated executives and their families at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive and/or the Executive's family, as in effect at any time thereafter generally
          with respect to other similarly-situated executives of the Company and its Affiliates and their families; provided, however that to the extent that any Other Benefits are deferred compensation within the meaning of Section 409A of the Code and
          the Treasury Regulations promulgated thereunder and subject to the requirements of Section 409A of the Code, such Other Benefits shall not be paid or provided before the first business day that is six months after the Date of Termination.

       

      
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      (d)          Cause; Other than for Good Reason.  If the Executive's employment shall be terminated for Cause during the Employment
          Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive (x) the Annual Base Salary through the Date of Termination and (y) Other Benefits, in each case to the extent
          theretofore unpaid.  If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, this Agreement shall terminate without further obligations to the Executive, other than for Accrued
          Obligations and the timely payment or provision of Other Benefits.  In such case, all Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days after the Date of Termination, provided, however, that  the Pro-Rata
          Bonus will be paid to the Executive on the first business day that is six months after the Date of Termination.  Notwithstanding the foregoing, to the extent that any Other Benefits required to paid pursuant to this Section 6(d) are deferred
          compensation within the meaning of Section 409A of the Code and the Treasury Regulations promulgated thereunder and subject to the requirements of Section 409A of the Code,  such Other Benefits shall not be paid or provided before the first
          business day that is six months after the Date of Termination.

       

      
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      7.          Termination of Agreement in Connection With Change of Control.  In the event of a change of control as defined in
          Section 1.409A-3(i)(5) of the Treasury Regulations (for purposes of this Section 7 only, a “Change of Control Event”), the Board shall have the authority, in its sole discretion, to terminate the Agreement pursuant to an irrevocable action taken
          by the Board within the 30 days preceding the Change of Control Event, provided that this Section 7 will only apply to a payment under the Agreement if all agreements, methods, programs, and other arrangements sponsored by the service recipient
          immediately after the time of the Change of Control Event with respect to which deferrals of compensation are treated as having been deferred under a single plan within the meaning of Section 1.409A-1(c)(2) of the Treasury Regulations are
          terminated and liquidated with respect to the Executive, so that under the terms of the termination and liquidation the Executive is required to receive all amounts of compensation deferred under the terminated agreements, methods, programs, and
          other arrangements within 12 months of the date the Board irrevocably takes all necessary action to terminate and liquidate the agreements, methods, programs and other arrangements.  Solely for purposes of this Section, where the Change of
          Control Event results from an asset purchase transaction, the service recipient with the discretion to liquidate and terminate the agreements, methods, programs and other arrangements is the service recipient that is primarily liable immediately
          after the transaction for the payment of the deferred compensation.  If the Agreement is terminated pursuant to this Section 7, the Company or the applicable Affiliate shall pay to the Executive in a lump sum in cash within 12 months of the date
          the Board irrevocably takes all necessary action to terminate and liquidate the agreements, methods, programs and other arrangements, the amount that would have been payable to the Executive if during the Employment Period the Company or
          Affiliate had terminated the Executive’s employment other than for Cause or Disability or if the Executive had terminated his employment for Good Reason in accordance with Section 6(a) of this Agreement.

       

      8.            Non‐exclusivity of Rights.  Nothing in this Agreement shall prevent or limit the Executive's continuing or future
          participation in any plan, program, policy or practice provided by the Company or any of its Affiliates and for which the Executive may qualify, nor, subject to the last sentence of this Section 8 and to Section 14(f), shall anything herein limit
          or otherwise affect such rights as the Executive may have under any contract or agreement with the Company or any of its Affiliates.  Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan,
          policy, practice or program of or any contract or agreement with the Company or any of its Affiliates at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement
          except as explicitly modified by this Agreement.  Notwithstanding the foregoing, if the Executive becomes entitled to receive severance benefits under Section 6(a) hereof, such severance benefits shall be in lieu of any benefits under any
          severance or separation plan, program or policy of the Company or any of its Affiliates to which the Executive would otherwise have been entitled.

       

      
        15

        
          

      

      9.            Full Settlement; Legal Fees.  The Company's obligation to make the payments provided for in this Agreement and
          otherwise to perform its obligations hereunder shall not be affected by any set‐off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others.  In no event shall the Executive be
          obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and except as specifically provided in Section 6(a)(ii), such amounts shall not
          be reduced whether or not the Executive obtains other employment.  The Company agrees to pay as incurred, at any time from the Effective Date through the Executive's remaining lifetime (or, if longer, through the 20th anniversary of the Effective
          Date), to the full extent permitted by law, all legal fees and expenses which the Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Executive or others of the validity or
          enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (whether such contest is between the Company and the Executive or between either of them and any third party, and including as a result
          of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code.  In order to comply
          with Section 409A of the Code, in no event shall the payments by the Company under this Section 9 be made later than the end of the calendar year next following the calendar year in which such fees and expenses were incurred, provided that the
          Executive shall have submitted an invoice for such fees and expenses at least 10 days before the end of the calendar year next following the calendar year in which such fees and expenses were incurred.  The amount of such legal fees and expenses
          that the Company is obligated to pay in any given calendar year shall not affect the legal fees and expenses that the Company is obligated to pay in any other calendar year, and the Executive's right to have the Company pay such legal fees and
          expenses may not be liquidated or exchanged for any other benefit.

       

      10.          Confidential Information.  The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret
          or confidential information, knowledge or data relating to the Company or any of its Affiliates, and their respective businesses, which shall have been obtained by the Executive during the Executive's employment by the Company or any of its
          Affiliates and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement).  After termination of the Executive's employment with the Company, the
          Executive shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by
          it.  In no event shall an asserted violation of the provisions of this Section 10 constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this Agreement.

       

      
        16

        
          

      

      11.          Executive Covenants.

       

      (a)          Noncompete/Nonsolicit.  During the Executive’s employment with the Company and its Affiliates during the Change of Control Period and for one (1) year following the Date of Termination if the Date of Termination occurs during the
            Change of Control Period, the Executive shall not, directly or indirectly (whether as owner, partner, officer, director, employee, consultant, investor, lender or otherwise, except as the holder of not more than 5% of the outstanding stock of a
            publicly-held company):

       

      	

            	(i)	
              provide services to any corporation or other entity, regardless of form, that is engaged in any business or enterprise that is the same as, or substantially the same as, the business of the Company for that
                part of the enterprise in which Executive has directly worked or had significant, direct exposure during Executive’s employment with the Company in the two (2) year period preceding the Date of Termination; or

            

       

      	

            	(ii)	
              directly or indirectly solicit for employment, hire, or work as an independent contractor, any person or entity who is an employee or service provider of the Company or any of its Affiliates or was employed
                or engaged by the Company or its Affiliates to provide services (whether as an independent representative, consultant, agent or employee) in the 12 months prior to the Date of Termination; provided, however, a broadly published recruitment
                advertisement that is not directed at any of the foregoing individuals shall not by itself be deemed a violation of this Section 11(a)(ii); or

            

       

      	

            	(iii)	
              divert or attempt to divert from the Company or its Affiliates any business with any customer, partner or other person with which the Company or its Affiliates had any material business contact or association
                during the Executive’s employment with the Company, or induce or attempt to induce any customer, partner or other person with which the Company or its Affiliates had any material business contact or association to reduce or refrain from
                doing business with the Company or its Affiliates.

            

       

      
        17

        
          

      

      (b)          Enforceability. If any restriction or provision set forth in Section 11(a) is found by any court of competent jurisdiction to be unenforceable because it is excessively broad, extends for too long a period of time, or covers too
            great a range of activities or too broad a geographic area, the parties agree that such restriction or provision shall be construed and interpreted to extend only over the maximum period of time, range of activities, or geographic area which is
            found by such court to be enforceable.

       

      (c)          Remedies; Injunctive Relief.  The parties acknowledge and agree that restrictions contained in Section 11(a) are necessary for the protection of the business and goodwill of the Company and are considered by the Executive to be
            reasonable for such purpose. The Executive agrees that any breach of Section 11(a) may cause the Company substantial and irrevocable damage that is difficult to measure. Therefore, if there is any such breach or threatened breach, the Executive
            agrees that the Company, in addition to such other remedies which may be available, shall have the right to seek an injunction from a court restraining such a breach or threatened breach and the right to specific performance of the provisions
            of this Agreement and the Executive hereby waives the adequacy of a remedy at law as a defense to such relief.

       

      12.          Successors.  (a)  This Agreement is personal to the Executive and without the prior written consent of the Company
          shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by the Executive's legal representatives.

       

      (b)          This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

       

      (c)          The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all
          or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken
          place.  As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise.

       

      
        18

        
          

      

      13.          “Golden Parachute” Excise Tax.

       

      (a)          In the event the Executive becomes entitled to receive payments and benefits hereunder or otherwise and such payments and
          benefits (the “Total Payments”) will be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall compute the “Net After-Tax Amount,” and the “Reduced Amount,”
          and shall adjust the Total Payments as described below.  The Net After-Tax Amount shall mean the present value of all amounts payable to Executive hereunder, net of all federal income, excise and employment taxes imposed on Executive by reason of
          such payments.  The Reduced Amount shall mean the largest aggregate amount of the Total Payments that if paid to Executive would result in Executive receiving a Net After-Tax Amount that is equal to or greater than the Net After-Tax Amount that
          Executive would have received if the Total Payments had been made.  If the Company determines that there is a Reduced Amount, the Total Payments will be reduced to the Reduced Amount.  Such reduction to the Total Payments shall, to the extent
          permitted by Section 280G and Section 409A, be in the order specified by the Executive or, if not specified or can’t be specified, be made by first reducing or eliminating any cash severance benefits, then by reducing or eliminating any
          accelerated vesting of equity awards in the manner that results in the largest amount being paid to Executive and then by reducing or eliminating any other remaining Total Payments, in each case in reverse order beginning with the payments which
          are to be paid the farthest in time from the date of the transaction triggering the Excise Tax.

       

      
        19

        
          

      

      (b)          For purposes of determining whether the Total Payments will be subject to the Excise Tax and the amounts of such Excise Tax
          and for purposes of determining the Reduced Amount and the Net After-Tax Amount:  (i) any other payments or benefits received or to be received by Executive in connection with a Change of Control or Executive’s termination of employment (whether
          pursuant to the terms of this Agreement or any other plan, arrangement, or agreement with the Company, or with any individual, entity, or group of individuals or entities whose actions result in a Change of Control or any Person affiliated with
          the Company or such Persons) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “excess parachute payments” within the meaning of Section 280G(b)(1) of the Code shall be treated as subject to
          the Excise Tax, unless in the opinion of a tax advisor reasonably selected by the Company  (“Tax Counsel”), such other payments or benefits (in whole or in part) should be treated by the courts as representing reasonable compensation for services
          actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code), or otherwise not subject to the Excise Tax; (ii) the amount of the Total Payments that shall be treated as subject to the Excise Tax shall be equal to the lesser of (A)
          the total amount of the Total Payments; or (B) the amount of excess parachute payments within the meaning of Section 280G(b)(1) of the Code (after applying clause (a) above); (iii) in the event that Executive disputes any calculation or
          determination made by the Company, the matter shall be determined by Tax Counsel, the fees and expenses of which shall be borne solely by the Company; and (iv) Executive shall be deemed to pay federal income taxes at the highest marginal rate of
          federal income taxation in the calendar year in which the Change of Control occurs, and state and local income taxes at the highest marginal rate of taxation in the state and locality of Executive’s residence on the effective date of the Change
          of Control, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes, taking into account applicable limitations on itemized deductions under the Code, as determined by Tax Counsel.

       

      14.          Miscellaneous.

       

      (a)          This Agreement shall be governed by and construed in accordance with the laws of the State of Ohio, without reference to
          principles of conflict of laws.  The captions of this Agreement are not part of the provisions hereof and shall have no force or effect.  This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties
          hereto or their respective successors and legal representatives.

       

      (b)          All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or
          by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

       

      If to the Executive:

      

      

      	 	
              ______________________

            
	 	
              Eaton

            
	 	
              Eaton Center

            
	 	
              1000 Eaton Boulevard

            
	 	
              Cleveland, Ohio  44122

            

      

      

      If to the Company:

       

      	 	
              Eaton

            
	 	
              Eaton Center

            
	 	
              1000 Eaton Boulevard

            
	 	
              Cleveland, Ohio  44122

            
	 	 
	 	
              Attention:  Office of the General Counsel

            

      

      

      or to such other address as either party shall have furnished to the other in writing in accordance herewith.  Notice and communications shall be effective when actually
        received by the addressee.

       

      
        20

        
          

      

      
      (c)          The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any
          other provision of this Agreement.

       

      (d)          The Company and its Affiliates may withhold from any amounts payable under this Agreement such Federal, state, local or
          foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.

       

      (e)          The Executive's or the Company's failure to insist upon strict compliance with any provision hereof or any other provision
          of this Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason pursuant to Section 5(c)(i)‐(iv) of this
          Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement.

       

      (f)          The Executive and the Company acknowledge that, except as may otherwise be provided under any other written agreement
          between the Executive and the Company or an Affiliate, the employment of the Executive by the Company or the applicable Affiliate is “at will” and, prior to the Effective Date, the Executive's employment may be terminated by either the Executive
          or the Company (or the applicable Affiliate) at any time prior to the Effective Date, in which case the Executive shall have no further rights under this Agreement.  In addition, this Agreement shall automatically and immediately terminate upon
          any transfer of the Executive’s employment, prior to the Effective Date, to any position with the Company or an Affiliate as to which Change of Control Agreements, in the form of this Agreement, have not been made available by action of the Board
          and, in the event of such transfer of employment, the Executive shall have no further rights under this Agreement.  From and after the Effective Date this Agreement shall supersede any other agreement between the parties with respect to the
          subject matter hereof.

       

      
        21

        
          

      

      (g)          Notwithstanding any provision in this Agreement to the contrary, in the event of an Anticipatory Termination, any payments that are
        deferred compensation within the meaning of Section 409A of the Code that the Company or an Affilaite shall be required to pay or provide pursuant to Section 6(a) of this Agreement shall be paid or commence being provided no earlier than the first
        business day that is six months after the date of the Anticipatory Termination.  In the event of an Anticipatory Termination, any payments or benefits that are not deferred compensation within the meaning of Section 409A of the Code that the
        Company or an Affiliate shall be required to pay or provide pursuant to Section 6(a) of this Agreement shall be paid or shall commence being provided on the date of the Change of Control. 

       

      (h)          Within the time period permitted by the applicable governmental regulations, the Company may, in consultation with the
          Executive, modify this Agreement, in the least restrictive manner necessary and without any diminution in the value of the payments to the Executive, in order to cause the provisions of the Agreement to comply with the requirements of Section
          409A of the Code, so as to avoid the imposition of taxes and penalties on the Executive pursuant to Section 409A of the Code.

       

      (i)           Notwithstanding any other provision of this Agreement to the contrary, any payment required to be made or commence pursuant
          to this Agreement to a “specified employee” within the meaning of Section 409A of the Code (as determined in accordance with the methodology established by the Company as in effect on the Date of Termination) that is deferred compensation within
          the meaning of Section 409A of the Code and the Treasury Regulations promulgated thereunder and subject to the requirements of Section 409A of the Code shall not be made or commence prior to the date that is six months following the Date of
          Termination.

       

      
        22

        
          

      

      (j)          To the extent that the reimbursement of any expenses or the provision of any in-kind benefits pursuant to this Agreement is
          subject to Section 409A of the Code, (i) the amount of such expenses eligible for reimbursement, or in-kind benefits to be provided hereunder during any one calendar year shall not affect the amount of such expenses eligible for reimbursement or
          in-kind benefits to be provided hereunder in any other calendar year; provided, however, that the foregoing shall not apply to any limit on the amount of any expenses incurred by the Executive that may be reimbursed or paid under the terms of the
          Company’s medical plan, if such limit is imposed on all similarly situated participants in such plan; (ii) all such expenses eligible for reimbursement hereunder shall be paid to the Executive as soon as administratively practicable after any
          documentation required for reimbursement for such expenses has been submitted, but in any event by no later than December 31 of the calendar year following the calendar year in which such expenses were incurred; and (iii) the Executive’s right to
          receive any such reimbursements or in-kind benefits shall not be subject to liquidation or exchange for any other benefit.

       

      IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand and, pursuant to the authorization from its Board of Directors, the Company has
        caused this Agreement to be executed in its name on its behalf, all as of the day and year first above written.

      

      

      	 	  
	 	
                                     [officer name]

            
	 	 
	 	EATON CORPORATION
	 	 	 
	 	
              By 

            	 
	 	 	 
	 	
              EATON CORPORATION PLC

            
	 	 	 
	 	
              By 

            	 

      

      

      

      

    

  

   
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