Document:

Knowles Corporation Executive Deferred Compensation Plan

 Exhibit 10.6 

KNOWLES CORPORATION 

EXECUTIVE DEFERRED COMPENSATION PLAN 

(Amended and Restated Effective as of January 1, 2014) 

Section 1. PURPOSE. 
 The Plan
was established to administer the non-qualified deferred compensation liabilities with respect to certain employees of Knowles Corporation and its Affiliates under the Dover Corporation Pension Replacement Plan (as amended and restated as of
January 1, 2010) (“Pension Replacement Plan”), the Dover Corporation Deferred Compensation Plan (as amended and restated as of January 1, 2009) (“Dover Deferred Compensation Plan”), and the Dover Technologies
International, Inc. Supplemental Executive Retirement Plan (“DTI SERP”). Knowles Corporation assumed such non-qualified deferred compensation liabilities in connection with the spin-off of Knowles Corporation by Dover Corporation. The
assumption of such non-qualified deferred compensation liabilities by Knowles Corporation shall be determined in accordance with the terms of Article III of the Employee Matters Agreement dated as of February 28, 2014 by and between Dover
Corporation and Knowles Corporation (“Employee Matters Agreement”). 
 Only those employees of Knowles Corporation and its
Affiliates, with respect to which Knowles Corporation assumed liabilities under the Pension Replacement Plan, the Dover Deferred Compensation Plan, and the DTI SERP pursuant to the Employee Matters Agreement, shall become Participants in this Plan.
No other employees of Knowles Corporation and its Affiliates shall become Participants in the Plan on or after the Effective Date. 

Participants in the Plan shall not defer any additional compensation under the Plan and their Accrued Benefits under the Pension Replacement
Plan shall be frozen as of December 31,2013. Instead, a Participant’s Deferred Compensation Plan Account shall be credited with interest, or earnings or losses, as set forth in the Plan. 

The Plan was amended and restated on January 20, 2014 by the Dover Corporation Benefits Committee effective as of January 1, 2014. 

Section 2. DEFINITIONS. 

Unless the context requires otherwise, the following words, as used in the Plan, shall have the meanings ascribed to each below: 

“Account” shall mean a Participant’s Deferred Compensation Plan Account and DTI SERP Account. 

“Accrued Benefit” shall mean a Participant’s “Retirement Benefit” under the Pension Replacement Plan as of
December 31, 2013. Each such Participant’s “Additional Years of Service”, “Applicable Percentage”, “Final Average Compensation”, “Compensation”, “Social Security Integration Level”, and
“Years of Service” (as those terms are defined in the Pension Replacement Plan) shall be frozen as of December 31, 2013 and each such Participant’s “Retirement Benefit” under the Pension Replacement Plan shall be
determined as of December 31, 2013. The Retirement Benefit so determined shall be a Participant’s Accrued Benefit under this Plan. The Accrued Benefit for all such Participants shall be 100% nonforfeitable, subject to forfeiture in the
event of termination for Cause as provided in Section 5.1(e). 
 “Affiliate” shall have the same meaning as in the
Knowles Corporation 2014 Equity and Cash Incentive Plan. 

  
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 “Beneficiary” shall mean the person or persons designated by a Participant to
receive any payments which may be required to be paid pursuant to the Plan following his or her death, or in the absence of any such designated person, the Participant’s estate; provided, however, that a married Participant’s Beneficiary
shall be his or her spouse unless the spouse consents in writing to the designation of a different Beneficiary. For purposes hereof, Beneficiary may be a natural person or an estate or trust. 

Upon the acceptance by the Committee (or a designee of the Committee) of a new Beneficiary designation, all Beneficiary designations previously
filed shall be canceled. A Participant’s designation of a Beneficiary (or any election to revoke or change a prior Beneficiary designation) must be made and filed with the Committee (or a designee of the Committee), in writing, on such form(s)
and in such manner prescribed by the Committee (or a designee of the Committee). The Committee (or a designee of the Committee) shall be entitled to rely on the last Beneficiary designation filed by the Participant and accepted by the Committee (or
a designee of the Committee) prior to his or her death. 
 “Cause” shall mean a Participant is convicted of, or enters a
plea of nolo contendere or similar plea to, a felony under applicable law, and the action constituting the felony has placed, or can reasonably be expected to place, the Corporation or an Affiliate or its employees at substantial legal or
other risk or has caused or can reasonably be expected to cause, substantial harm, monetarily or otherwise, to the business, reputation or affairs of the Corporation or an Affiliate or its relations with employees, suppliers, distributors, or a
customer. 
 “Change in Control” shall have the same meaning as in the Corporation’s 2014 Equity and Cash Incentive
Plan. 
 “Committee” shall mean the Benefits Committee of the Corporation. 

“Code” shall mean the Internal Revenue Code of 1986, as amended and as hereafter amended from time to time, and any
regulations promulgated thereunder. 
 “Corporation” shall mean Knowles Corporation, a Delaware corporation, and any
successor corporation by merger, consolidation or transfer of all or substantially all of its assets. 
 “Deferred Compensation Plan
Account” shall mean the book entry-account under this Plan which shall be credited with (i) a Participant’s account balance under the Dover Deferred Compensation Plan as of December 31, 2013, including any bonus deferrals in
respect of the 2013 Plan Year or deferrals in respect of long-term cash-based long-term incentive awards for performance periods ending in 2013 which are credited to a Participant’s account under the Dover Deferred Compensation Plan during
2014, and (ii) Earnings credited thereon, as provided in the Plan. 
 “DTI SERP Account” shall mean the book
entry-account under this Plan which shall be credited with (i) a Participant’s account balance under the Dover Technologies International, Inc. Supplemental Executive Retirement Plan as of December 31, 2013, and (ii) Earnings credited thereon,
as provided in the Plan. 
 “Disability” with respect to a Participant’s Deferred Compensation Plan Account, means a
disability which causes a Participant who has not met the requirements for Retirement to be eligible to receive disability benefits under his or her employer’s long-term disability benefits program, provided that any such disability meets the
criteria specified in Section 1.409A-3(i)(4) of the Treasury Regulations, or, in the case of a Participant who does not meet the criteria specified above, a disability which would cause the Participant to be determined to be totally disabled by
the Social Security Administration and eligible for social security disability benefits. A Participant’s Disability shall be deemed to have ended on the last day of the last month with respect to which he or she receives benefits described in
the preceding sentence. 
 “Earnings” With respect to a Participant’s Deferred Compensation Plan Account or DTI SERP
Account, Earnings shall mean earnings and or losses on amounts credited to such account in accordance with Section 5 hereof. 

“Effective Date” shall mean January 1, 2014. 

  
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 “Grandfathered Benefit” means the portion of a Participant’s
Deferred Compensation Plan Account, if any, that is attributable to amounts credited to a Participant’s account under the Dover Deferred Compensation Plan as of December 31, 2004, plus or minus Earnings credited on such amount thereafter. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

“Hardship” means one or more of the following events which causes an unforeseen financial
hardship to the Participant or his or her family: 
  

	 	(1)	A serious illness or accident of the Participant or a dependent (as defined in Section 152(a) of the Code) of the Participant; 

  

	 	(2)	A loss of the Participant’s primary residence due to casualty; or 

  

	 	(3)	Other similar circumstances arising out of events substantially beyond the control of the Participant, as determined by the Committee. 

“Non-Grandfathered Benefit” means the portion of a Participant’s Deferred Compensation Plan Account that
is attributable to amounts credited to a Participant’s account under the Dover Deferred Compensation Plan after December 31, 2004, plus or minus Earnings credited on such amount thereafter. 

“Participant” shall mean only those employees of Knowles Corporation and its Affiliates, with respect to which Knowles
Corporation assumed liabilities under the Dover Corporation Pension Replacement Plan, the Dover Corporation Deferred Compensation Plan, and the Dover Technologies International, Inc. Supplemental Executive Retirement Plan pursuant to the Employee
Matters Agreement. No other employees of Knowles Corporation and its Affiliates shall become Participants in the Plan on or after the Effective Date. 

“Pension Replacement Plan Account” shall mean the book entry-account under this Plan based on the Participant’s frozen
December 31, 2013 Accrued Benefit. 
 “Plan” shall mean the Knowles Corporation Executive Deferred Compensation Plan,
as amended from time to time. 
 “Plan Year” shall mean the calendar year. 

“Retirement” with respect to a Participant’s Deferred Compensation Plan Account, means the Participant’s
termination of employment on or after (a) his or her 65th birthday, (b) his or her completion of ten (10) “years of service” and attainment of age 55, or (c) with respect to a Participant’s Grandfathered Benefit,
completion of such other time as the Committee, in its sole discretion, determines is sufficient to grant a Participant an approved early retirement date. For purposes hereof, a year of service means each period of twelve (12) months of
completed employment with the Corporation or an Affiliate or with Dover Corporation or an affiliate thereof. 

“Scheduled In-Service Withdrawal Date” means the date or dates elected by a Participant under the
Dover Deferred Compensation Plan for the early distribution of benefits, as provided in Section 5.2. A Participant shall not be permitted to elect a Scheduled In-Service Withdrawal Date after December 31, 2013. 

“Specified Employee” shall mean an Employee within the meaning of Section 409A(a)(2)(B)(i) of the Code and any
applicable regulations or other pronouncements issued by the Internal Revenue Service with respect thereto. The determination of who the Specified Employees are as of any time shall be made by the Committee. 

“Termination of Employment” shall mean a separation from the employment of the Corporation and its Affiliates for any reason,
including, but not limited to, retirement, death, disability, resignation, dismissal, or the cessation of an entity as an Affiliate. Notwithstanding the foregoing, a Participant shall not be considered to have had a Termination of Employment if, for
purposes of Section 409A of the Code, the Participant would not be considered to have had a “separation from service.” 
 Section 3.
DEFERRAL OF COMPENSATION. 
 (a) Participants in the Plan shall not defer any additional compensation under the Plan. The Accrued
Benefits under the Pension Replacement Plan shall be frozen as of December 31,2013, as adjusted under Section 5.1(a) for Termination of Employment. Instead, a Participant’s Deferred Compensation Plan Account shall be credited with
interest, or earnings or losses, as set forth in the Plan. Effective December 31, 2013, no additional “Employer Contributions” (as defined in the DTI SERP) shall be credited to a Participant’s DTI SERP Account. Instead, a
Participant’s DTI SERP Account shall be credited with Earnings as set forth in the Plan. 
 (b) a Participant’s Deferred
Compensation Plan Account and DTI SERP Account shall be 100% vested at all times, including Earnings thereon. 
 Section 4. MEASUREMENT OF
EARNINGS. 
 (a) The measuring alternatives used for the measurement of Earnings on the amounts in a Participant’s Deferred
Compensation Plan Account and shall be selected by the Participant in writing or electronically pursuant to such procedures as shall be prescribed by the Committee from among the various measuring alternatives offered under the Plan from time to
time, unless the Committee decides in its sole discretion to designate the measuring alternative(s) used to determine Earnings. 

  
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 (b) In the event that various measuring alternatives are made available to Participants, each
Participant may change the selection of his or her measuring alternatives as of the beginning of any Plan Year (or at such other times and in such manner as prescribed by the Committee (or its designee), in its sole discretion), subject to such
notice and other administrative procedures established by the Committee(or a designee of the Committee). 
 (c) The Committee may, in its
sole discretion, establish rules and procedures for the crediting of Earnings and the election of measuring alternatives pursuant to this Section 5. 

(d) The Committee shall, in its discretion, establish such Earnings rate or rates to be credited on or after December 31, 2013 to a
Participant’s DTI SERP Account from time to time. Earnings shall not be credited to a Participant’s DTI SERP Account after Termination of Employment. 

Section 5. DISTRIBUTION OF BENEFITS. 

5.1 Pension Replacement Plan Account. 

(a) As of the date of a Participant’s Termination of Employment, the Participant’s Accrued Benefit shall (i) be adjusted by
multiplying the Accrued Benefit by a fraction, the numerator of which is the “Applicable Percentage” (as defined in the Pension Replacement Plan) that would have been in effect under the Pension Replacement Plan as of the date of
Termination of Employment, and the denominator of which is the Applicable Percentage in effect under the Pension Replacement Plan as of December 31, 2013, and then (ii) the adjusted Accrued Benefit shall be converted into a single lump sum
amount as of the date of Termination of Employment using the annuity conversion and other applicable factors as in effect on the date of the Participant’s Termination of Employment. The lump sum shall be based on the methodology provided in the
Dover Pension Plan, Program SI as of December 31, 2013. 
 (b) If the lump sum value of a Participant’s Accrued Benefit,
determined as set forth in Section 5.1(a), is $500,000 or less, the entire lump sum amount shall be paid out in a single payment as soon as practicable after the date of Termination of Employment but in no event later than ninety (90) days
after the date of Termination of Employment. 
 (c) If the lump sum value of a Participant’s Accrued Benefit, determined as set forth
in Section 5.1(a), exceeds $500,000, 75% of the lump-sum value of such amount shall be paid out in a lump sum as soon as practicable after his or her Termination Date, but in no event later than ninety (90) days after his or her
Termination Date, and 20% of the remaining lump-sum value shall be paid on or about each of the next subsequent five anniversary dates of the date as of which the initial lump-sum payment was made or, if the initial payment was subject to the six
month payment delay in this Section 5.1, the anniversary of the date on which the initial payment would have been made if the six month payment delay were not applicable, but in no event later than ninety (90) days after the applicable
anniversary date. 
 (d) Notwithstanding the foregoing, the Accrued Benefit of a Participant who on the date of his or her Termination of
Employment is a Specified Employee shall be converted to a lump sum as of the date of Termination of Employment as provided in Section 5.1(a) and then increased with interest at the “First Segment Rate” (within the meaning of
Section 430(h)(2)(C)(i) of the Code) as such rate is in effect on the date as of which the benefit is to be paid (or commence to be paid), and (iii) paid (or commence to be paid) as of the first day of the month coincident with or next
following six months after his or her Termination Date, but in no event later than ninety (90) days after such date. 
 (e)
Notwithstanding any provision in the Plan to the contrary, If the Committee determines, whether prior to or after Termination of Employment, that a Participant has engaged in conduct that constitutes Cause (including conviction of, or plea to, a
felony), the Committee shall revoke that Participant’s status as a Participant in this Plan and if the Participant is still employed, his or her Accrued Benefit, as adjusted under Section 5.1(a), shall be forfeited in its entirety and he
or she shall cease to be a Participant in the Plan. If the Committee determines, after a Participant’s Termination of 

  
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Employment, that the participant has engaged in conduct that constitutes Cause (including conviction of, or plea to, a felony), the Participant’s Accrued Benefit, as adjusted in
Section 5.1(a), shall be forfeited in its entirety and the Participant shall be required to repay any portion of the Accrued Benefit that has already been distributed to him or her. If the Committee reasonably believes that a Participant has
engaged in conduct that could provide the basis for a conviction of, or plea to, a felony and thus constitute Cause, the Committee may withhold any or all payments of the Accrued Benefit, as adjusted in Section 5.1(a), to that Participant until
the Committee reasonably concludes that such conduct will not result in a conviction of, or plea to, a felony by that participant. 
 5.2
Deferred Compensation Plan Account. 
 (a) Upon a Participant’s Retirement or Disability, his or her Deferred
Compensation Plan Account shall be payable over a period of five (5), ten (10) or fifteen (15) years, or in a single lump sum payment, as elected by the Participant in his or her deferred compensation election pursuant to the provisions of
the Dover Corporation Deferred Compensation Plan. If a Participant has failed to make a valid distribution election, the distribution shall be made in annual installments over a ten (10) year period. Notwithstanding the above, distributions as
a result of Retirement may be deferred as elected by a Participant; provided, however, in no event may any distribution commence later than the last day of the first calendar quarter of the year following the year in which the
Participant attains age seventy (70), regardless of whether the Participant has terminated employment with the Corporation. A Participant may change the method of distribution on account of Retirement or Disability (from lump sum to installments or
vice versa or to change the date on which a distribution would be made or commence to be made or the period over which the installments would be made) by giving at least twelve (12) months’ notice to the Committee by following such procedures
as may be established by the committee prior to his or her Retirement or attainment of age seventy (70), if applicable and, if such election is on account of Retirement or Disability, the election shall not take effect until at least 12 months after
the date on which the election is made; provided further, however, that the distribution, or commencement of the distribution, of any Non-Grandfathered Benefit on account of Retirement is extended for at least five (5) years beyond the
prior time as of which the distribution was to have been made or commence to have been made. If, prior to distribution of the Participant’s Deferred Compensation Plan Account, a Participant who had incurred a Disability no longer meets the
definition of Disability and returns to work with the Corporation, no payment of a Grandfathered Benefit shall be made from the Plan on account of the prior Disability, and distribution of the Participant’s Deferred Compensation Plan Account
shall be made as otherwise provided in this Section 5.2(a). 
 (b) In the event a Participant dies prior to the distribution of the
Participant’s entire Deferred Compensation Plan Account, distribution of the Participant’s Deferred Compensation Plan Account (or the remaining balance thereof) shall be made in a single lump sum payment on such date as the Committee shall
determine; provided, however, that such date shall be within ninety (90) days following the Participant’s death or such later date as shall meet the requirements of Section 409A of the Treasury Regulations. 

(c) If a Participant incurs a Termination of Service, voluntarily or involuntarily, for reasons other than Retirement, death or Disability,
the value of the Participant’s Deferred Compensation Plan Account balance shall be paid in a single lump sum payment. 
 (d) All
distributions from the Deferred Compensation Plan Account (other than distributions on account of death, Unforeseeable Emergency or Hardship) shall be made in accordance with the following procedure: the Participant’s Deferred Compensation Plan
Account shall be valued as of the January 31st of the Plan Year next following the Plan Year in which the Participant’s Retirement, Disability, death, Termination of Employment or other “distributable event” occurs. If the
distribution is to be made in a single lump sum payment, the lump sum shall be paid as soon as administratively practicable following the January 31st as of which the valuation described above is made, but in no event later than the
March 31st following such valuation. If the distribution is to be made in installments, the same January 31st valuation described above shall be made and then divided by the number of years over which the installment payments are to be
made. Such amount shall be paid as soon as administratively practicable after the determination is made, but in no event later than the March 31st following such January 31st valuation. A new valuation and annual installment amount (based
on the number of remaining annual installments to be made) shall be determined as of each subsequent January 31st during which installment payments are to be made and such payments shall be made no later than the March 31st following each
such determination. As used herein, “distributable event” shall mean the date of a Participant’s Retirement, Disability, death or Termination of Service; provided, however, that if a Participant has elected to have a
payment deferred for a specified period following Retirement, “distributable event” with respect to such payment shall mean the year to which the payment is deferred. All distributions shall be made in cash. 

  
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 (e) Notwithstanding the foregoing, if the Deferred Compensation Plan Account from which all
initial installment payments which begin to be made during a year is $50,000 or less as of the applicable January 31st valuation described above, the entire amount remaining in such Deferred Compensation Plan Account shall be distributed in a
single lump sum payment as soon as administratively practicable following such January 31st valuation, but in no event later than the March 31st following such January 31st valuation. 

(f) This Section 5.2(g) applies to a Participant who has elected, prior to December 31, 2013 a Scheduled In-Service Withdrawal Date in
accordance with the Dover Corporation Deferred Compensation Plan applicable to all or a portion of his or her Deferred Compensation Plan Account. Such election shall specify the portion or amount of the Participant’s Deferred Compensation Plan
Account to be distributed. A Participant may elect to extend to a later date a Scheduled In-Service Withdrawal Date by filing a written request to do so with the Committee at least twelve (12) months prior to such date (such election not taking
effect until at least 12 months after the date on which the election is made). A Participant shall be granted no more than two (2) such extensions with respect to any initial Scheduled In-Service Withdrawal Date. The minimum period of extension (i)
with respect to a Participant’s Grandfathered Benefit is two (2) years from the original Scheduled In-Service Withdrawal Date with respect to the first extension and two (2) years from the extended date of distribution with respect to the
second extension and (ii) with respect to the Participant’s Non-Grandfathered Benefit is five (5) years beyond the prior time as of which the distribution was to have been made or commence to have been made with respect to the first extension
and five (5) years from the extended date of distribution with respect to the second extension. 
 (g) The distribution of the
Scheduled In-Service Withdrawal elected amount or portion of the Participant’s Deferred Compensation Plan Account must commence no later than the last day of the first calendar quarter of the year following the year in which the Participant
attains age seventy (70), regardless of whether the Participant has terminated employment with the Corporation. 
 (h) A Participant may
elect to receive the distribution of the Schedule In-Service Withdrawal amount in a single lump sum payment or annual installments over two (2), three (3), four (4) or five (5) years. The form of distribution may be amended by the Participant up to
twelve (12) months prior to any elected Scheduled In-Service Withdrawal Date by giving prior written notice to the Committee (such election not taking effect until at least 12 months after the date on which the election is made); provided, however,
that the time of distribution of Non Grandfathered Benefits whose form of distribution is amended shall be extended for a period of not less than 5 (years) beyond the prior time as of which the distribution was to have been made or commence to have
been made. All distributions subject to this Section 5.2 shall be determined and paid pursuant to, and shall otherwise be subject to, the provisions of Sections 5.2(d) and (e). 

(i) If a Participant incurs a Termination of Service by reason of Retirement or Disability prior to a Scheduled In-Service Withdrawal Date,
the amount of the distribution shall be distributed as the Participant elected for Retirement or Disability, as the case may be. If the Participant incurs a Termination of Employment for any other reason, the distribution will be in the form of a
single lump sum payment. If a Participant incurs a Termination of Employment by reason of Retirement or Disability while he or she is receiving scheduled in-service installment distributions, the balance of the Participant’s Deferred
Compensation Plan Account shall be distributed to the Participant as elected for Retirement or Disability, as the case may be. If the Participant incurs a Termination of Employment for any other reason, the remaining installments will be distributed
in a single lump sum payment. 
 (j) Notwithstanding any other provision of this Section 5.2, in the event that a Participant is a
“covered employee” as defined in Section 162(m)(3) of the Code and any applicable regulations or other pronouncements issued by the Internal Revenue Service with respect thereto, or would be a covered employee if the benefits were
distributed in accordance with his or her distribution election or withdrawal request, the maximum amount which may be distributed from the Deferred Compensation Plan Account in any Plan Year, shall not exceed one million dollars ($1,000,000) less
the amount of compensation paid to the Participant in such Plan Year which is not “performance-based” (as defined in Section 162(m)(4)(C) of the Code), which amount shall be reasonably determined by the Corporation at the time of the
proposed distribution. Any amount which is not distributed to the Participant in a Plan Year as a result of the limitation set forth in this Section 5.2 shall be distributed to the Participant in the first Plan Year in which distribution of such
amount is in compliance with the foregoing limitation set forth in this Section 5.2 and with the limitations on distributions to Specified Employees; provided, however, that the Corporation also delays the payment of all other amounts that are not
deductible in accordance with Section 162(m) of the Code which are scheduled to be distributed to such Participant for that year and to any other similarly situated “covered employees.” 

5.3 DTI SERP Account. 

Distribution of the Participant’s DTI SERP Account shall be made in a single lump sum payment within ninety (90) days following the (1)
the date of a Participant’s Termination of Employment, or, the Participant’s 65th birthday, whichever is the last to occur, or (2) the Participant’s death. 

5.4 SECTION 409A. 

(a) It is intended that (a) this Plan and all benefits payable thereunder (other than Non-Grandfathered Benefits) shall comply in all
material respects with the applicable provisions of Section 409A of the Code; (b) to the maximum extent possible each such provision of the Plan, and any actions taken pursuant to the Plan, shall be interpreted so that any such provision
or action shall be deemed to be in compliance with Section 409A of the Code; and (c) no election made by a Participant hereunder, and no change made by a Participant to a previous election with respect to a Non-Grandfathered Benefit shall
be accepted if the Committee determines that acceptance of such election or change could violate any of the requirements of Section 409A of the Code, resulting in early taxation and penalties. Neither the Corporation nor its current employees,
officers, directors, representatives or agents shall have any liability to any current or former Participant with respect to any accelerated taxation, additional taxes, penalties or interest for which any current or former Participant may become
liable in the event that any amounts payable under the Plan are determined to violate Section 409A of the Code. 
 (b) Notwithstanding
any provision of the Plan to the contrary, no distribution of the Deferred Compensation Plan Account or DTI SERP Account to a Specified Employee following his or her Termination of Employment (other than as the result of the Specified
Employee’s death) shall be made (or commence to be made) earlier than the first day of the month coincident with or next following six months after his or her Termination of Employment. Any distribution subject to this provision shall be
delayed until the end of the six-month period, and any payment due within the six-month period shall be paid at the beginning of the seventh month following the date of the Specified Employee’s Termination of Employment. 

(c) The entitlement to a series of installment payments under the Plan shall be treated as a single payment for purposes of Section 409A,
including for purposes of the subsequent changes in the time or form of payment as provided in Treasury Regulation Section 1.409A-2(b)(2). 

(d) Although it is intended that payments scheduled to be made under the Plan shall be made as provided herein, in no event shall any such
payment be made later than the end of the calendar year in which the scheduled payment was to have been made, or, if later, prior to the 15th day of the third month following the date as of which the scheduled payment was to have been made;
provided, however, that the Participant shall not have any direct or indirect discretion to designate the taxable year in which such payment is to be made. For purposes hereof, the scheduled payment date of a payment that is scheduled to be made
during a 90-day period shall be the first day of the 90-day period. 
 Section 6. HARDSHIP WITHDRAWALS. 

(a) Upon the request of a Participant, the Committee, in its sole discretion, may approve, due to the Participant’s “Unforeseeable
Emergency,” an immediate lump sum distribution to the Participant of all or a portion of a Participant’s unpaid Non-Grandfathered Benefit Deferred Compensation Plan Account. For the purposes of this Section 6, a Participant shall
experience a “Unforeseeable Emergency” if, and only if, such Participant experiences a severe financial hardship as defined in Section 409A of the Code. Withdrawals on account of Unforeseeable Emergency or Hardship shall not be
permitted from the Pension Replacement Plan Account. 
 (b) The amount to be paid pursuant to Section 6.1 of the Plan shall not exceed
the amount necessary to satisfy the applicable Unforeseeable Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the payment, after taking into account the extent to which such hardship is or may be relieved through
reimbursement or compensation by insurance other otherwise or by liquidation of the Participant’s assets (to the extent such assets would not itself cause severe hardship). 

(c) This Section 6(c) is applicable with respect to a Participant’s Grandfathered Benefit. In the event that the Committee, upon
written petition of a Participant determines in its sole discretion that the Participant has suffered a Hardship, the Committee shall distribute to the Participant 

  
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or Beneficiary as soon as reasonably practicable following such determination, an amount, not in excess of the value of the Participant’s Grandfathered Benefit, necessary to alleviate the
Hardship. A Participant or Beneficiary claiming Hardship will be required to submit such documentation of the Hardship and proof that the loss is not covered by other means as the Committee shall request. 

(d) Distributions from a Participant’s Deferred Compensation Plan Account on account of Hardship or an Unforeseeable Emergency shall be
made as soon as administratively practicable (and in the case of an Unforeseeable Emergency, no later than 90 days) following, if applicable, approval of such distributions by the Committee. 

Section 7. CHANGE IN CONTROL 

In the event of a Change of Control, a Participant’s Accrued Benefit shall be paid to the Participant in a single lump sum payment within
60 days after the Change of Control. Notwithstanding any other provision of the Plan to the contrary, upon a Change in Control, the Committee may, in its discretion, terminate the remaining provisions of the Plan pursuant to the procedures in
Section 1.409A-3(j)(4)(ix)(B) or (C) (if applicable) and a Participant’s Deferred Compensation Plan Account shall be paid to him or her in a lump sum as soon as administratively practicable after the Change in Control to the extent permissible
under the foregoing provisions of the Section 409A regulations. An event shall not be considered to be a “Change in Control” if, for purposes of Section 409A of the Code, such event would not be considered to be a change in control. A
payment of a Non-Grandfathered Benefit made pursuant to this Section 7 to a Participant who is a Specified Employee may be delayed, in the discretion of the Committee, until the earlier of the first day of the month coincident with or next following
six months after his or her Termination of Employment or Change of Control to the extent necessary to avoid a violation of Section 409A of the Code. 

Section 8. CLAIMS PROCEDURES. 

(a) Initial Claim. 

(i) Any claim by an Employee, Participant or Beneficiary (“Claimant”) with respect to eligibility, participation benefits or other
aspects of the operation of the Plan shall be made in writing to the Committee. The Committee shall provide the Claimant with the necessary forms and make all determinations as to the right of any person to a disputed benefit. If a Claimant is
denied benefits under the Plan, the Committee or its designee shall notify the Claimant in writing of the denial of the claim within ninety (90) days after the Committee or its designee receives the claim, provided that in the event of special
circumstances such period may be extended. 
 (ii) In the event of special circumstances, the ninety (90) day period may be extended
for a period of up to ninety (90) days (for a total of one hundred eighty (180) days). If the initial ninety (90) day period is extended, the Committee or its designee shall notify the Claimant in writing within ninety (90) days
of receipt of the claim. The written notice of extension shall indicate the special circumstances requiring the extension of time and provide the date by which the Committee expects to make a determination with respect to the claim. If the extension
is required due to the Claimant’s failure to submit information necessary to decide the claim, the period for making the determination shall be tolled from the date on which the extension notice is sent to the Claimant until the earlier of
(i) the date on which the Claimant responds to the Committee’s request for information, or (ii) expiration of the forty-five (45) day period commencing on the date that the Claimant is notified that the requested additional
information must be provided. 
 (iii) If notice of the denial of a claim is not furnished within the required time period described herein,
the claim shall be deemed denied as of the last day of such period. 
 (iv) If a claim is wholly or partially denied, the notice to the
Claimant shall set forth: 
 (A) The specific reason or reasons for the denial; 

(B) Specific reference to pertinent Plan provisions upon which the denial is based; 

(C) A description of any additional material or information necessary for the Claimant to complete the claim request and an explanation of why
such material or information is necessary; 
 (D) Appropriate information as to the steps to be taken and the applicable time limits if the
Claimant wishes to submit the adverse determination for review; and 
 (E) A statement of the Claimant’s right to bring a civil action
under Section 502(a) of ERISA following an adverse determination on review. 

  
 7 

 (b) Claim Denial Review.  

(i) If a claim has been wholly or partially denied, the Claimant may submit the claim for review by the Committee. Any request for review of a
claim must be made in writing to the Committee no later than sixty (60) days after the Claimant receives notification of denial or, if no notification was provided, the date the claim is deemed denied. The Claimant or his or her duly authorized
representative may: 
 (A) Upon request and free of charge, be provided with reasonable access to, and copies of, relevant documents,
records, and other information relevant to the Claimant’s claim; and 
 (B) Submit written comments, documents, records, and other
information relating to the claim. The review of the claim determination shall take into account all comments, documents, records, and other information submitted by the Claimant relating to the claim, without regard to whether such information was
submitted or considered in the initial claim determination. 
 (ii) The decision of the Committee upon review shall be made within sixty
(60) days after receipt of the Claimant’s request for review, unless special circumstances (including, without limitation, the need to hold a hearing) require an extension. In the event of special circumstances, the sixty (60) day
period may be extended for a period of up to one hundred twenty (120) days. 
 (iii) If notice of the decision upon review is not
furnished within the required time period described herein, the claim on review shall be deemed denied as of the last day of such period. 

(iv) The Committee, in its sole discretion, may hold a hearing regarding the claim and request that the Claimant attend. If a hearing is held,
the Claimant shall be entitled to be represented by counsel. 
 (v) The Committee’s decision upon review on the Claimant’s claim
shall be communicated to the Claimant in writing. If the claim upon review is denied, the notice to the Claimant shall set forth: 
 (A) The
specific reason or reasons for the decision, with references to the specific Plan provisions on which the determination is based; 
 (B) A
statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim; and 

(C) A statement of the Claimant’s right to bring a civil action under Section 502(a) of ERISA. 

(c) All interpretations, determinations and decisions of the Committee with respect to any claim, including without limitation the appeal of
any claim, shall be made by the Committee, in its sole discretion, based on the Plan and comments, documents, records, and other information presented to it, and shall be final, conclusive and binding. 

  
 8 

 The claims procedures set forth in this Section are intended to comply with United States
Department of Labor Regulation § 2560.503-1 and should be construed in accordance with such regulation. In no event shall it be interpreted as expanding the rights of Claimants beyond what is required by United States Department of Labor
Regulation § 2560.503-1. 
 Section 9. NO FUNDING OBLIGATION. 

(a) The Plan shall not be construed to require the Corporation to fund any of the benefits payable under the Plan or to set aside or earmark
any monies or other assets specifically for payments under the Plan. Each participating company shall pay its share of the expenses of the Plan as the Corporation may determine from time to time in the manner specified herein. Each participating
company shall be liable for and shall pay its fair share of the expenses of operating the Plan. The amount of such charges to each employer shall be determined by the Corporation, in its sole discretion. 

(b) This Plan is “unfunded”; benefits payable hereunder shall be paid by the Corporation out of its general assets. Participants and
their Beneficiaries shall not have any interest in any specific asset of the Corporation as a result of this Plan. Nothing contained in this Plan and no action taken pursuant to the provisions of this Plan shall create or be construed to create a
trust of any kind, or a fiduciary relationship amongst the Corporation, any employer, the Committee, and the Participants, their Beneficiaries or any other person. Any funds which may be invested under the provisions of this Plan shall continue for
all purposes to be part of the general funds of the Corporation and no person other than the Corporation shall by virtue of the provisions of this Plan have any interest in such funds. To the extent that any person acquires a right to receive
payments from the Corporation under this Plan, such right shall be no greater than the right of any unsecured general creditor of the Corporation. 

Section 10. NON-TRANSFERABILITY OF RIGHTS UNDER THE PLAN. 

The benefits payable or other rights under the Plan shall not be subject to alienation, transfer, assignment, garnishment, execution, or levy
of any kind, and any attempt to be so subjected shall not be recognized. 
 Section 11. MINORS AND INCOMPETENTS. 

(a) In the event that the Committee finds that a Participant is unable to care for his or her affairs because of illness or accident, then
benefits payable hereunder, unless claim has been made therefor by a duly appointed guardian, committee, or other legal representative, may be paid in such manner as the Committee shall determine, and the application thereof shall be a complete
discharge of all liability for any payments or benefits to which such Participant was or would have been otherwise entitled under this Plan. 

(b) Any payments to a minor from this Plan may be paid by the Committee in its sole and absolute discretion (a) directly to such minor;
(b) to the legal or natural guardian of such minor; or (c) to any other person, whether or not appointed guardian of the minor, who shall have the care and custody of such minor. The receipt by such individual shall be a complete discharge
of all liability under the Plan therefor. 
 Section 12. ASSIGNMENT. 

The Plan shall be binding upon and inure to the benefit of the Corporation, its successors and assigns and the Participants and their heirs,
executors, administrators and legal representatives. In the event that the Corporation sells all or substantially all of the assets of its business and the acquiror of such assets assumes the obligations hereunder, the Corporation shall be released
from any liability imposed herein and shall have no obligation to provide any benefits payable hereunder. 

  
 9 

 Section 13. LIMITATION OF RIGHTS. 

Nothing contained herein shall be construed as conferring upon an Employee the right to continue in the employ of the Corporation or its
Affiliate’s as an executive or in any other capacity or to interfere with the right of the Corporation or its Affiliate to discharge him or her at any time for any reason whatsoever. 

Section 14. ADMINISTRATION. 

(a) On behalf of the Corporation, the Plan shall be administered by the Committee or, to the extent specifically permitted under the terms of
the Plan, a designee of the Committee; provided that, if any authority to administer is delegated by the Committee, such administration shall be subject to the oversight of the Committee. The Committee (or its designee) shall have the exclusive
right, power, and authority, in its sole and absolute discretion, to administer, apply and interpret the Plan and any other Plan documents and to decide all matters arising in connection with the operation or administration of the Plan. Without
limiting the generality of the foregoing, the Committee shall have the sole and absolute discretionary authority: (a) to take all actions and make all decisions with respect to the eligibility for, and the amount of, benefits payable under the
Plan; (b) to formulate, interpret and apply rules, regulations and policies necessary to administer the Plan in accordance with its terms; (c) to decide questions, including legal or factual questions, relating to the calculation and
payment of benefits under the Plan; (d) to resolve and/or clarify any ambiguities, inconsistencies and omissions arising under the Plan or other Plan documents; and (e) to process and approve or deny benefit claims and rule on any benefit
exclusions. All determinations made by the Committee (or any designee) with respect to any matter arising under the Plan and any other Plan documents including, without limitation, any question concerning eligibility and the interpretation and
administration of the Plan shall be final, binding and conclusive on all parties. To the extent that a form prescribed by the Committee to be used in the operation and administration of the Plan does not conflict with the terms and provisions of the
Plan document, such form shall be evidence of (i) the Committee’s interpretation, construction and administration of this Plan and (ii) decisions or rules made by the Committee pursuant to the authority granted to the Committee under
the Plan. 
 (b) Decisions of the Committee shall be made by a majority of its members attending a meeting at which a quorum is present
(which meeting may be held telephonically), or by written action in accordance with applicable law. 
 Section 15. AMENDMENT OR TERMINATION OF
PLAN. 
 On behalf of the Corporation, the Committee may, in its sole and absolute discretion, amend the Plan from time to time and
at any time in such manner as it deems appropriate or desirable, and the Committee may, in its sole and absolute discretion, terminate the Plan for any reason from time to time and at any time in such manner as it deems appropriate or desirable.

 Section 16. SEVERABILITY OF PROVISIONS. 

In case any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other
provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included. 

  
 10 

 Section 17. ENTIRE AGREEMENT. 

This Plan, along with the Participant’s elections hereunder, constitutes the entire agreement between the Corporation and the Participant
pertaining to the subject matter herein and supersedes any other plan or agreement, whether written or oral, pertaining to the subject matter herein. No agreements or representations, other than as set forth herein, have been made by the Corporation
with respect to the subject matter herein. 
 Section 18. HEADINGS AND CAPTIONS. 

The headings and captions herein are provided for reference and convenience only. They shall not be considered part of the Plan and shall not
be employed in the construction of the Plan. 
 Section 19. NON-EMPLOYMENT. 

The Plan is not an agreement of employment and it shall not grant an employee any rights of employment. 

Section 20. PAYMENT NOT SALARY. 

Except to the extent a plan otherwise provides, any Benefits payable under this Plan shall not be deemed salary or other compensation to the
Participant or Beneficiary for the purposes of computing benefits to which he or she may be entitled under any pension plan or other arrangement of the Corporation. 

Section 21. GENDER AND NUMBER. 

Wherever used in this Plan, the masculine shall be deemed to include the feminine and the singular shall be deemed to include the plural,
unless the context clearly indicates otherwise. 
 Section 22. WITHHOLDING. 

The Corporation shall have the right to deduct (or cause to be deducted) from any amounts otherwise payable to the Participant or other payee,
whether pursuant to the Plan or otherwise, or otherwise to collect from the Participant or other payee, any required withholding taxes with respect to benefits under the Plan. 

Section 23. CONTROLLING LAW. 

The Plan is established in order to provide deferred compensation to a select group of management and highly compensated employees within the
meanings of Sections 201(2) and 301(a)(3) of ERISA. The Plan is intended to comply with the requirements imposed under Section 409A of the Code and the provisions of the Plan shall be construed in a manner consistent with the requirements of
such section of the Code. To the extent legally required, the Code and ERISA shall govern the Plan and, if any provision hereof is in violation of any applicable requirement thereof, the Corporation reserves the right to retroactively amend the Plan
to comply therewith. To the extent not governed by the Code and ERISA, the Plan shall be governed by the laws of the State of Illinois without giving effect to conflict of law provisions. 

  
 11Knowles Corporation Executive Severance Plan

 Exhibit 10.7 

KNOWLES CORPORATION 

EXECUTIVE SEVERANCE PLAN 

Introduction 
 This Knowles Corporation
Executive Severance Plan (the “Plan”) sets forth the policy of Knowles Corporation, a Delaware corporation (“Knowles”), and each of its Subsidiaries (as defined in Article 13) which employs an “Eligible Executive” (as
defined in Article 1) with respect to “Severance Payments” (as defined in Article 5) payable to an Eligible Executive under the Plan. (Knowles and such Subsidiaries are collectively referred to as the “Company”.) This Executive
Severance Plan constitutes the plan document and summary plan description for the Plan. 
 Article 1. Who is Eligible for Participation in the
Plan 
  

	a.	Eligible Executives. Those executives who are eligible to participate in the Plan are (i) Presidents of a Business Unit of the Company, Vice Presidents of Knowles, and officers of Knowles senior to
Vice Presidents of Knowles, (ii) who are (A) employed in the United States, or (B) a U.S.-based employee temporarily assigned to the non-U.S. payroll of a Subsidiary on an expatriate assignment, and (iii) and, on the date of a
covered termination of employment, remain in such a position,(“Eligible Executives”), shall be eligible to receive Severance Payments under the Plan. 

  

	b.	Effect of Employment Agreement. You shall not be eligible to participate in the Plan if you are party to a written agreement with the Company that provides for severance payments to you upon, or following,
the termination of your employment. 

  

	c.	Other Plans. If you are eligible to participate in this Plan, you shall not be eligible to participate in, or to receive any severance benefits under, any other severance plan, policy, practice, or
arrangement maintained by the Company. If you become eligible to receive Severance Payments under the Knowles Corporation Senior Executive Change-in-Control Severance Plan, you shall not be eligible to receive Severance Payments under this Plan.

 Article 2. How Do You Become Eligible for Severance Payments under the Plan 

You will be eligible for Severance Payments if you are an Eligible Executive and your employment is terminated by the Company without “Cause” (as
defined in Article 13) (“Termination Without Cause”). 
 Article 3. What Events Make You Ineligible for Severance Payments under the
Plan  
 You shall not be entitled to receive Severance Payments under this Plan if any of the following disqualifying events occur: 

 

	a.	Death or Disability. Your employment terminates due to death or, at the option of the Company, upon your “Disability” (as defined in Article 13); 

	b.	Voluntary Termination. You elect to terminate your employment with the Company or a successor for any reason, including without limitation, retirement (“Voluntary Termination”).

  

	c.	Termination for Cause. Your employment with the Company is terminated for Cause (“Termination for Cause”); 

  

	 	•	 	Your employment may be terminated for Cause by the Company effective upon the giving of written notice to you of such Termination for Cause, or effective upon another date as specified in such notice (“Notice of
Termination for Cause”). 

  

	 	•	 	If within one (1) year after your Termination Without Cause, the Company determines that your employment could have been Terminated for Cause, your prior termination shall be recharacterized as a Termination for
Cause upon the Company giving written notice to you (or to your estate in the event of your death). You (or your estate) shall have thirty (30) days to provide a written response to the Company. To the extent that the Company does not reverse
its determination after receipt of your response, if any, you (or your estate) shall be obligated promptly to repay any Severance Payments paid to you under the Plan. The Company may take appropriate legal action to seek to recover any Severance
Payments from you or your estate. 

  

	d.	Sale. You work for a division, subdivision, plant, location, or entity which is sold or otherwise transferred to an entity other than Knowles and its Subsidiaries, regardless of whether the new owner
offers continued or comparable employment to you. 

  

	e.	New Employer. You begin working for another employer (whether regular or temporary and whether full-time or part-time) in any capacity, including as a consultant or independent contractor, before your
“Date of Termination” (as defined in Article 13). You are required to immediately notify the Company in writing if you begin another job prior to your Date of Termination. 

Article 4. What Amounts Other than Severance Payments May be Payable to You 

Regardless of whether you are eligible for Severance Payments under the Plan, you may be entitled to receive benefits (other than severance payments) for which
you are expressly eligible following your Date of Termination to the extent you are entitled under the terms and conditions of any other plans, policies, programs and/or arrangements of the Company, including without limitation, continuation health
benefits under the federal law known as COBRA, amounts payable or benefits provided under the Knowles Corporation 2014 Equity and Cash Incentive Plan and any successor plan (the “2014 Plan”), the Knowles Corporation Executive Deferred
Compensation Plan, the Knowles Corporation 401(k) Plan. 

  
 2 

 Article 5. What Severance Payments Are Payable under the Plan 

If you are eligible to receive Severance Payments under Article 2 above, and you have not become ineligible for the receipt of such Severance Payments due to a
disqualifying event as described in Article 3 above or other provisions of the Plan, you shall be entitled to the following severance payments (the “Severance Payments”): 

 

	 	•	 	Base Salary continuation for a twelve (12) month period following your Date of Termination (the “Severance Pay Period”), plus an additional monthly amount equal to the then cost of COBRA health
continuation coverage for yourself and covered family members based on the level of health coverage in effect on your Date of Termination, if any, for the lesser of the Severance Period or the period that you receive COBRA benefits, with such
payments to commence sixty (60) days from your Date of Termination, retroactive to your Date of Termination, provided that you have executed and not revoked a general release of claims against the Company within forty-five (45) days
following the date of termination or should you later revoke or violate the Separation Agreement and Release, as set forth below; 

  

	 	•	 	If on your Date of Termination you are a “covered employee” (within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”)) who participates in an annual
incentive plan intended to comply with Section 162(m) of the Code, an additional Severance Payment equal to the pro rata portion (based upon the completed calendar months worked in the year in which your Date of Termination occurs) of the
annual incentive bonus paid to you for the year prior to the year in which your Date of Termination occurs (the “Bonus Payment”), with such amount to be payable when an annual incentive bonus is regularly paid to employees for the year in
which your Date of Termination occurs, which amount may, in the discretion of the Compensation Committee of Knowles’s Board of Directors (“Compensation Committee”), be reduced. 

 

	 	•	 	If you are not a “covered employee”, an additional Severance Payment equal to a pro rata portion (based upon the completed calendar months worked in the year in which your Date of Termination occurs), of the
target annual incentive bonus payable for the year in which your Date of Termination occurs, with such amount to be payable when an annual incentive bonus is regularly paid to employees for the year in which your Date of Termination occurs, which
amount may, in the discretion of the Compensation Committee (or, if applicable, the manager who approves your bonus) be reduced based upon attainment of the performance criteria applicable to your award for the year of termination.

  

	 	•	 	If you die before receipt of all Severance Payments to which you are entitled, any payments due to you will be paid to your estate at the time they would have been payable to you. 

 

	 	•	 	 The Company’s obligations to make Severance Payments to you are conditioned upon your timely execution (without revocation) of a separation
agreement and a general release of all claims related to your employment and the termination of your employment in a form satisfactory to Knowles (the “Separation Agreement and Release”). The Separation Agreement and Release shall include
a 

  
 3 

	 	 
confidentiality covenant, a non-disparagement covenant, a covenant for the protection of intellectual property, and a non-competition and non-solicitation restriction for the duration of the
Severance Pay Period, as more fully to be set forth in such Separation Agreement and Release. If you should fail to execute such Separation Agreement and Release within forty-five (45) days following the Date of Termination or should you later
revoke or violate the Separation Agreement and Release, the Company shall not have any obligation to make the payments contemplated under this Plan and you shall refund any Severance Payments made to you. 

Article 6. Claw-Back Provisions 
 In
addition to the right of the Company, under Article 3(c) and Article 5, to recover amounts paid to you, in the event that you shall (i) breach the non-competition, non-disparagement, non-solicitation, confidentiality, intellectual property or
other covenants or provisions of the Separation Agreement and Release, or (ii) be required by any claw-back policies of the Company, as in effect from time to time, or by applicable law, to refund payments received from the Company as the
result of a restatement of the Company’s financial statements or other events or conduct as may be specified in such policies from time to time or as may be required by applicable law, you shall be obligated promptly to refund the Severance
Payments made to you. The Company may take appropriate legal action to seek to recover any Severance Payments from you or your estate. 
 Article 7.
Income Taxes  
 Severance Payments are subject to all applicable federal, state, local and non-U.S. tax withholdings. 

Article 8. Section 409A of the Code  

Notwithstanding any other provision of the Plan, if any payment, compensation or other benefit provided to you in connection with your employment termination
is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code and you are a “specified employee” as defined in Code Section 409A(a)(2)(b)(i), no
part of such payments shall be paid before the day that is six (6) months plus one (1) day after your Date of Termination (such date, the “New Payment Date”). The aggregate of any payments that otherwise would have been paid to
you during the period between your Date of Termination and the New Payment Date shall be paid to you in a lump sum on such New Payment Date. Thereafter, any payments that remain outstanding as of the day immediately following the New Payment Date
shall be paid without delay over the time period originally scheduled in accordance with the terms of the Plan. If you die during the period between the Date of Termination and the New Payment Date, the amounts withheld on account of Code
Section 409A shall be paid to your estate within ninety (90) days of your death. 
 For the avoidance of doubt, up to two (2) times the
lesser of: (i) your Base Salary for the year preceding the year in which your Date of Termination occurs; and (ii) the maximum amount of compensation that may be taken into account under a qualified plan pursuant to Code
Section 401(a)(17) for the year in which your Date of Termination occurs, shall be paid in accordance with the schedule set forth in Article 5, without regard to such six (6) month delay. 

  
 4 

 The provisions of the Plan are intended to be exempt from, or to comply with, the requirements of Code
Section 409A, including without limitation, with the separation pay exemption and short-term deferral exemption of Code Section 409A. The Plan shall in all respects be administered in accordance with Code Section 409A and shall be
interpreted in a manner to conform to the requirements of Code Section 409A. Notwithstanding anything in the Plan to the contrary, distributions may only be made under the Plan upon an event and in a manner permitted by Code Section 409A
or an applicable exemption. 
 All payments to be made upon a termination of employment under the Plan may only be made upon a “separation from
service” under Code Section 409A. 
 For purposes of Code Section 409A, the right to a series of installment payments under the Plan shall be
treated as a right to a series of separate payments. In no event may you, directly or indirectly, designate the calendar year of a payment. 
 Article 9.
Administration of Plan  
 The “Plan Administrator” (as defined in Article 13) shall have the exclusive right, power, and authority, in
its sole and absolute discretion, to administer, apply, and interpret the Plan and to decide all matters arising in connection with the operation or administration of the Plan to the extent not retained by Knowles as set forth herein. Without
limiting the generality of the foregoing, the Plan Administrator shall have the sole and absolute discretionary authority to: 
  

	•	 	Make determinations as to whether an employee is, or is not, an Eligible Executive; 

  

	•	 	Take all actions and make all decisions with respect to the eligibility for, and the amount of, Severance Payments payable under the Plan; 

 

	•	 	Formulate, interpret and apply rules, regulations, and policies necessary to administer the Plan in accordance with its terms; 

  

	•	 	Decide questions, including legal or factual questions, with regard to any matter related to the Plan; 

  

	•	 	Construe and interpret the terms and provisions of the Plan and all documents which relate to the Plan and decide any and all matters arising thereunder including the right to remedy possible ambiguities,
inconsistencies or omissions; 

  

	•	 	Investigate and make such factual or other determinations as shall be necessary or advisable for the resolution of appeals of adverse determinations under the Plan; and 

 

	•	 	Process, and approve or deny, claims for Severance Payments under the Plan and any appeals. 

  
 5 

 All determinations made by the Plan Administrator as to any question involving its respective responsibilities,
powers and duties under the Plan shall be final and binding on all parties, to the maximum extent permitted by law. All determinations by Knowles referred to in the Plan shall be made by Knowles in its capacity as an employer and settlor of the
Plan. 
 Article 10. Modification or Termination of Plan  

Knowles reserves the right, in its sole and absolute discretion, to amend, modify, or terminate the Plan, in whole or in part, including any or all of the
provisions of the Plan, for any reason, at any time, by action of the Compensation Committee. This Plan does not give an Eligible Executive any vested right to Severance Payments. If the Plan is amended or terminated, your rights to receive
Severance Payments may be eliminated. No individual may become entitled to benefits or other rights under the Plan after the Plan is terminated. 

Article 11. Claims and Appeal Procedures  
 The
Plan Administrator shall make a determination in connection with the termination of employment of an Eligible Executive as to whether a Severance Payment under the Plan is payable to such Eligible Executive and the amount thereof, taking into
consideration any determination made by Knowles as to the circumstances regarding the termination, the potential applicability of a disqualifying event, or the Plan Administrator’s decision as to whether an employee is an Eligible Executive
under the Plan. The Plan Administrator shall advise any Eligible Executive it determines is entitled to Severance Payments under the Plan as to the amount of Severance Payments payable under the Plan. The Plan Administrator may delegate any or all
of its responsibilities under this section. 
  

	a.	Claim Procedures 

 Each Eligible Executive or his or her authorized representative (each, the
“Claimant”) claiming Severance Payments under the Plan who has not been advised by the Plan Administrator as to his or her eligibility for Severance Payments, disagrees with a determination that he or she is not eligible for Severance
Payments, disagrees with the amount of any Severance Payments awarded under the Plan, or disagrees with a decision to require him or her to repay an amount under the Plan, is eligible to file a written claim with the Plan Administrator. 

Within ninety (90) days after receiving the claim, the Plan Administrator will decide whether or not to approve the claim. The ninety (90)-day period may
be extended by the Plan Administrator up to an additional ninety (90)-day period if special circumstances require an extension of time to consider the claim. If the Plan Administrator extends the ninety (90)-day period, the Claimant will be notified
in writing before the expiration of the initial ninety (90)-day period as to the length of the extension and the special circumstances that necessitate the extension. 

If the claim is denied, the Plan Administrator shall set forth in writing (which notice may be electronic) the reasons for the denial; the relevant provisions
of the Plan on which the decision is made; a description of the Plan’s claim appeal procedures; and, if additional material or information is necessary to perfect the claim, an explanation of why such material or information is necessary. The
notice will also include a statement regarding the procedures for the Claimant to file a request for review of the claim denial as set forth in the “Appeal Procedures” sub-section below and the Claimant’s right to bring a civil action
under Section 502(a) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) following a claim denial on appeal. 

  
 6 

	b.	Appeal Procedures 

 If a claim has been denied by the Plan Administrator and the Claimant wishes further
consideration and review of his or her claim, he or she must file an appeal of the denial of the claim to the Plan Administrator no later than sixty (60) days after the receipt of the written notification of the Plan Administrator’s
denial. In connection with his or her appeal, the Claimant may request the opportunity to review relevant documents prior to submission of a written statement, submit documents, records and comments in writing, and receive, upon request and free of
charge, reasonable access to and copies of all documents, records and other information relevant to the Claimant’s claim for Severance Payments under the Plan. The review of the appeal by the Plan Administrator will take into account all
comments, documents, records and other information submitted by the Claimant relating to the claim, without regard to whether such information was submitted or considered in the initial review of the claim. 

The Plan Administrator will notify the Claimant in writing (which notice may be electronic) of the Plan Administrator’s decision with respect to its
review of the appeal within sixty (60) days of the receipt of the request for a review of the claim. Due to special circumstances, the Plan Administrator may extend the time to reach a decision with respect to the appeal of the claim denial, in
which case the Plan Administrator will notify the Claimant in writing before the expiration of the initial 60-day period as to the length of the extension and the special circumstances that necessitate such extension and render a decision as soon as
possible, but not later than one hundred twenty (120) days following the receipt of the Claimant’s request for appeal. 
 If the appeal is denied,
the Plan Administrator will set forth in writing (which notice may be electronic) the specific reasons for the denial and references to the relevant Plan provisions on which the determination of the denial is based. The notice will also include a
statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim, and a statement of the Claimant’s right to bring an
action under Section 502(a) of ERISA. 
  

	c.	Exhaustion of Remedies under the Plan 

 A Claimant wishing to seek judicial review of an adverse benefit
determination under the Plan, whether in whole or in part, must file any suit or legal action, including, without limitation, a civil action under Section 502(a) of ERISA, within one (1) year of the date the final decision on the adverse
benefit determination on review is issued or should have been issued or lose any rights to bring such an action. If any such judicial proceeding is undertaken, the evidence presented shall be strictly limited to the evidence timely presented to the
Plan Administrator. A Claimant may bring an action under ERISA only after he or she has exhausted the Plan’s claims and appeal procedures. 

  
 7 

 Article 12. Miscellaneous Provisions  

 

	•	 	The records of the Company with respect to employment history, compensation, absences, illnesses, and all other relevant matters shall be conclusive for all purposes of this Plan. 

 

	•	 	The respective terms and provisions of the Plan shall be construed, whenever possible, to be in conformity with the requirements of ERISA, or any subsequent laws or amendments thereto. To the extent not to conflict with
the preceding sentence, the construction and administration of the Plan shall be in accordance with the laws of the state of Illinois applicable to contracts made and to be performed within the state of Illinois (without reference to its conflicts
of law provisions). 

  

	•	 	Nothing contained in this Plan shall be held or construed to create any liability upon the Company to retain any employee in its service or to change the employee-at-will status of any employee. All employees shall
remain subject to the same terms and conditions of employment and discharge or discipline to the same extent as if the Plan had not been put into effect. An employee’s failure to qualify for, or receive, a Severance Payment under the Plan shall
not establish any right to (i) continuation or reinstatement, or (ii) any benefits in lieu of Severance Payments. 

  

	•	 	The Company has the right to cancel a proposed termination of employment or reschedule a termination date at any time before your employment terminates. You will not become eligible for Severance Payments if your
termination date is cancelled or if you voluntarily terminate employment before the termination date specified or rescheduled by the Company. 

  

	•	 	Severance Payments under this Plan are not intended to duplicate such (i) payments and benefits as may be provided to you under state, local, federal or non-US plant shut down, mass layoff or similar laws, such as
the WARN Act or (ii) payments in the nature of severance or separation pay, termination allowances or indemnities, and/or pay or benefits in lieu of notice, pay and/or benefits for service during any notice period, or any similar type of
payment or benefit under any non-US plan, program or policy, under any non-US contract or agreement or between a union, works council or other collective bargaining entity or employee representative and the Company, or under applicable non-US laws
or regulations. Should payments or benefits under such laws or other arrangements become payable to you, payments under this Plan will be offset or reduced (but not below zero) by all payments and benefits to which you are entitled under such other
laws or arrangements, or alternatively, Severance Payments previously paid under this Plan will be treated as having been paid to satisfy such other benefit obligations to the extent permitted by applicable law. In either case, the Plan
Administrator, in its sole discretion, will determine how to apply this provision and may override other provisions in this Plan in doing so. 

  

	•	 	At all times, payments under the Plan shall be made from the general assets of the Company. 

  
 8 

	•	 	Should any provisions of the Plan be deemed or held to be unlawful or invalid for any reason, the balance of the Plan shall remain in effect, unless it is amended or terminated as provided in the Plan.

  

	•	 	Except as required by law, the Severance Payments will not be subject to alienation, transfer, assignment, garnishment, execution or levy of any kind, and any attempt to cause such payments to be so subjected will not
be recognized. 

  

	•	 	If any overpayment is made under the Plan for any reason, the Plan Administrator will have the right to recover the overpayment. 

  

	•	 	The Company shall cause this Plan to be assumed by a successor of the Company, whether such succession occurs by merger, asset sale or otherwise. 

 

	•	 	Any notice or other written communication required or permitted pursuant to the terms of the Plan shall have been duly given (i) immediately when delivered by hand, (ii) three days after being mailed by United
States Mail, first class, postage prepaid (or such local equivalent thereof), addressed to the intended recipient at his, her or its last known address, (iii) on the next business day after deposit with a courier or overnight delivery service
post paid for next-day delivery and addressed in accordance with the last known address, or (iv) immediately upon delivery by facsimile or email to the telephone number or email address provided by a party for the receipt of notice.

 Article 13. Definitions 
  

			
	Cause	  	 •   You have engaged in conduct that constitutes willful misconduct, dishonesty, or gross negligence in the
performance of your duties; you breach your fiduciary duties to your employer; or your willful failure to carry out the lawful directions of the person(s) to whom you report;

		
		  	 •   You have engaged in conduct which is demonstrably and materially injurious
to your employer, or that materially harms the reputation, good will, or business of your employer;
  

•   You have engaged in conduct which is reported in the general or trade press or otherwise
achieves general notoriety and which is scandalous, immoral or illegal;

		
		  	 •   You have been convicted of, or entered a plea of guilty or nolo contendere
(or similar plea) to, a crime that constitutes a felony, or a crime that constitutes a misdemeanor involving moral turpitude, dishonesty or fraud;
  

•   You have been found liable in any Securities and Exchange Commission or other civil or
criminal securities law action or any cease and desist order applicable to you is entered (regardless of whether or not you admit or deny liability);

  
 9 

			
		  	 •    You have used or disclosed, without authorization, confidential or proprietary information of Knowles or
its Subsidiaries; you have breached any written agreement with the Company not to disclose any information pertaining to Knowles or its Subsidiaries or their customers, suppliers and businesses; or you have breached any agreement relating to
non-solicitation, non-competition , or the ownership or protection of the intellectual property of Knowles or its Subsidiaries; or

		
		  	 •    You have breached any of the Company’s policies applicable to you, whether currently in effect or
adopted after the Effective Date of the Plan.

		
	Date of
Termination	  	The date on which you incur a termination of employment or such other date on which you incur a “separation from service” determined under the provisions set forth in Section 1.409A-1(h) of the Treasury Regulations or any
successor provisions. Pursuant to such provisions, you will be treated as no longer performing services for the Company when the level of services you perform for the Company decreases to a level equal to 20% or less of the average level of services
performed by you during the immediately preceding thirty-six (36) months.
		
	Disability	  	Disability shall be defined as set forth under the Company-sponsored Long-Term Disability Benefits Plan that covers you, as such plan shall be in effect from time to time. Any dispute concerning whether you are deemed to have
suffered a Disability for purposes of the Plan shall be resolved in accordance with the dispute resolution procedures set forth in the Company-sponsored Long-Term Disability Benefits Plan in which you participate.
		
	Plan
Administrator	  	With respect to Severance Payments payable to the President and Chief Executive Officer, the Chief Operating Officer, or the Vice President- Human Resources, the Compensation Committee. With respect to all other matters under the
plan, the Vice President -Human Resources of Knowles or successor position.
		
	Subsidiary	  	An entity in which Knowles owns, directly or indirectly, at least 50% of the equity or voting interests.

 Article 14. Effective Date of Plan 

The Plan is effective as of February 28, 2014. 

  
 10 

 SUMMARY OF ERISA RIGHTS 

Your Rights Under ERISA 
 The Department of Labor has
issued regulations that require the Company to provide you with a statement of your rights under ERISA with respect to this Plan. The following statement was designated by the Department of Labor to satisfy this requirement and is presented
accordingly. 
 As a participant in the Plan, you are entitled to certain rights and protections under ERISA. ERISA provides that all Plan participants are
entitled to: 
 Receive Information About Your Plan and Benefits 

1. Examine, without charge, all Plan documents and copies of all documents filed by Knowles with the Department of Labor and available at the Public Disclosure
Room of the Employee Benefits Security Administration. This includes annual reports and Plan descriptions. All such documents are available for review from the Knowles Human Resources Department. 

2. Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan, including copies of the latest annual
report (Form 5500 Series) and any updated summary plan description. The Plan Administrator may charge you a reasonable fee for the copies. 
 3. Receive a
summary of the Plan’s annual financial report. Once each year, the Plan Administrator will send you a Summary Annual Report of the Plan’s financial activities at no charge. 

Prudent Action by Fiduciaries 
 In addition to
creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan. The people who operate your Plan, called fiduciaries of the Plan, have a duty to do so prudently and in the interest of
you and other Plan participants. 
 No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to
prevent you from obtaining a benefit under the Plan or exercising your rights under ERISA. 
 Enforcing Your Rights 

If your claim for Severance Payments is denied or ignored in whole or in part, you have a right to receive a written explanation of the reason for the denial,
to obtain copies of documents related to the decision without charge, and to appeal any denial, all within certain time schedules. You have the right to have your claim reviewed and reconsidered as explained in the “Claims and Appeal
Procedures” section. 

  
 11 

 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials
from the Plan and do not receive them within thirty (30) days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the
materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. If you have a claim for Severance Payments which is denied or ignored, in whole or in part, you may file suit in a state or federal court
after you have exhausted the Plan’s claims and appeal procedures as described in the section “Claims and Appeal Procedures” hereof. If it should happen that Plan fiduciaries misuse the Plan’s money, or if you are discriminated
against for asserting your rights, you may seek assistance from the Department of Labor, or you may file suit in a federal court. 
 The court will decide
who should pay court costs and legal fees. If you are successful, the court may order the person you sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is
frivolous. 
 Assistance with Your Questions 
 If you
have any questions about the Plan, you should contact the Plan Administrator through the Knowles Human Resources Department. They will be glad to help you. If you have any questions about this statement or about your rights under ERISA, or if you
need assistance in obtaining documents from the Plan Administrator, you should contact the nearest Area Office of the Employee Benefits Security Administration, Department of Labor, listed in your telephone directory, or you may contact: 

The Division of Technical Assistance and Inquiries 
 Employee
Benefits Security Administration, 
 Department of Labor 
 200
Constitution Avenue, N.W., Room 5N625 
 Washington, DC 20210 

1-866-444-EBSA (1-866-444-3272) 
 www.dol.gov/ebsa (for general
information) 
 www.askebsa.dol.gov (for electronic inquiries) 

You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits
Security Administration at 1-866-444-3272. 
 Administrative Facts 
  

			
	Plan Name	  	 Knowles Corporation Executive
 Severance
Plan

		
	Plan Sponsor	  	 Knowles Corporation
 1151 Maplewood Drive

Itasca, Illinois 60143
 630-250-5100

		
	Type of Plan	  	The Plan is a welfare benefit plan that provides severance benefits

  
 12 

			
		
	Source of Contributions to Plan	  	Employer payments from general corporate assets
		
	Plan Year	  	The Plan Year is January 1 through December 31
		
	Employer Identification Number	  	90-1002689
		
	Plan Number	  	510
		
	Plan Administrator	  	 Knowles Corporation
 1151 Maplewood Drive

Itasca, Illinois 60143
 630-250-5100

		
	Agent for Receiving Service of Legal Process	  	 General Counsel
 Knowles Corporation

1151 Maplewood Drive
 Itasca, Illinois 60143

630-250-5100
 Legal Process can also be served on the Plan
Administrator

 Contact Information 
 If
you have questions about this Plan, please contact Knowles Human Resources at the coordinates below and they will provide you with this information. 

Knowles Human Resources 
  

			
	Phone:	  	630-238-5100
	Fax:	  	630-773-3744
	E-Mail:	  	Maneesh.Limaye@knowles.com

  
 13

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