Document:

Amended and Restated Supplemental Executive Retirement Benefits Program

 Exhibit 10(g) 
 PARKER-HANNIFIN CORPORATION 
 AMENDED AND RESTATED 
 SUPPLEMENTAL EXECUTIVE 
 RETIREMENT BENEFITS PROGRAM 
 Adopted: 07/21/2008 
 Effective: 07/21/2008

 [Annotated for amendment(s) adopted through 06/30/09] 
 WHEREAS, by instrument effective as of January 1, 1980, this supplemental executive retirement benefits program (the “Program”) was established for the benefit of certain employees of Parker-Hannifin
Corporation and their beneficiaries; and 
 WHEREAS, the Program has been amended and restated from time to time; and 
 WHEREAS, the Human Resources and Compensation Committee (the “Committee”) of the Board of Directors of the Company desires to amend and restate
the terms, provisions, and conditions of the Program; 
 NOW, THEREFORE, the Program is hereby amended and restated in its entirety as of
July 21, 2008 and such other dates as specified herein to reflect the requirements of the American Jobs Creation Act (the “Act”) with respect to the terms and conditions applicable to amounts that are accrued and vested after
December 31, 2004 and subject to Section 409A of the Code. All benefits accrued and vested under the Program prior to January 1, 2005 and any additional amounts that are not subject to Section 409A of the Code (the
“Grandfathered Amounts”) shall continue to be subject solely to the terms of the separate Program as in effect on December 31, 2004. The Program will be administered in a manner consistent with the Act and Section 409A of the
Code and any Regulations or other guidance thereunder and any provision in the Program that is inconsistent with Section 409A of the Code shall be void and without effect. Notwithstanding anything else in the Program to the contrary, nothing
shall be read to preclude the Program from using any transition rules permitted under the Act, provided that no action will be permitted with respect to the Grandfathered Amounts that will subject such amounts to Section 409A of the Code.

  

	1.	Definitions 

 Except as otherwise required by the
context, the terms used in this Program shall have the meanings hereinafter set forth. 
  

	 	(a)	Actuarial Equivalent or Actuarially Equivalent: An amount that is the actuarial equivalent (within the meaning of Section 1.409A-2(b)(2)(ii) of the Regulations) of a
value using the actuarial assumptions specified for the relevant purpose under the Consolidated Plan. 

  

	 	(b)	Actuarial Value: As defined in the PRP. 

 (SERP) Amended and
Restated Supplemental Executive Retirement Benefits Program (07.21.08)
  

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	 	(c)	Affiliated Group: The Company and all entities with which the Company would be considered a single employer under Sections 414(b) and 414(c) of the Code, provided that in
applying Sections 1563(a)(1), (2), and (3) of the Code for purposes of determining an Affiliated Group of corporations under Section 414(b) of the Code, the language “at least 50 percent” is used instead of “at least 80
percent” each place it appears in Sections 1563(a)(1), (2), and (3) of the Code, and in applying Section 1.414(c)-2 of the Treasury Regulations for purposes of determining trades or businesses (whether or not incorporated) that are
under common control for purposes of Section 414(c) of the Code, “at least 50 percent” is used instead of “at least 80 percent” each place it appears in that regulation. Such term shall be interpreted in a manner consistent
with the definition of “service recipient” contained in Section 409A of the Code. 

  

	 	(d)	Beneficiary: The person or persons or entity designated as such in accordance with Article 8 of the Program. 

  

	 	(e)	Board: The Board of Directors of the Company. 

  

	 	(f)	Business Combination: A merger, consolidation, share exchange or similar form of corporate reorganization of the Company or any Subsidiary that requires the approval of the
Company’s stockholders, whether for such transaction or the issuance of securities in connection with the transaction or otherwise. 

  

	 	(g)	Change in Control: The occurrence of one of the following events: 

  

	 	(1)	 A change in ownership of the Company, which occurs on the date that any one person or more than one person acting as a group (within the meaning of the Regulations
under Section 409A of the Code) acquires ownership of stock of the Company that, together with stock held by such person or group, constitutes more than 50% of the total voting power of the stock of the Company. Notwithstanding the foregoing,
if any one person or group is considered to own more than 50% of the total voting power of the stock of the Company, the acquisition of additional stock by the same person or group is not considered to cause a change in the ownership of the Company
or a change in the effective control of the Company (within the meaning of Section 1(g)(2) of this Program). Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires ownership of
more than 50% of the total voting power of the stock of the Company as a result of the acquisition by the Company of stock of the Company which, by reducing the number of shares outstanding, increases the percentage of shares beneficially owned by
such person; provided, that if a Change in Control would occur as a result of such an acquisition by the Company (if not for the operation of this sentence), and after the Company’s acquisition such person becomes the beneficial owner of
additional stock of the Company that increases the 

  

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percentage of outstanding shares of stock of the Company owned by such person, a Change in Control shall then occur. 

  

	 	(2)	A change in effective control of the Company, which occurs on either of the following dates: 

  

	 	(i)	The date that any one person or more than one person acting as a group (within the meaning of the Regulations under Section 409A of the Code) acquires (or has acquired during
the 12-month period ending on the date of the most recent acquisition by such person or group) ownership of stock of the Company possessing 30% or more of the total voting power of the Company. Notwithstanding the foregoing, if any one person or
group is considered to own 30% or more of the total voting power of the stock of the Company, the acquisition of additional stock by the same person or group is not considered to cause a change in the effective control of the Company or a change in
ownership of the Company (within the meaning of Section 1(g)(1) of this Program). Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires ownership of more than 30% of the total
voting power of the stock of the Company as a result of the acquisition by the Company of stock of the Company which, by reducing the number of shares outstanding, increases the percentage of shares beneficially owned by such person; provided, that
if a Change in Control would occur as a result of such an acquisition by the Company (if not for the operation of this sentence), and after the Company’s acquisition such person becomes the beneficial owner of additional stock of the Company
that increases the percentage of outstanding shares of stock of the Company owned by such person, a Change in Control shall then occur. 

  

	 	(ii)	The date that a majority of the Company’s board of directors is replaced during any 12-month period by directors whose appointment or election was not endorsed by a majority of
the members of the board prior to the date of such appointment or election. 

  

	 	(3)	 A change in the ownership of a substantial portion of the Company’s assets, which occurs on the date that any one person or more than one person acting as a
group (within the meaning of the Regulations under Section 409A of the Code) acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or group) assets that have a total gross fair
market value equal to or more than 65% of the total gross fair market value of all the assets of the Company immediately before such acquisition or acquisitions. The gross fair market value of assets shall be determined without regard to liabilities

  

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associated with such assets. Notwithstanding the foregoing, a transfer of assets shall not result in a change in ownership of a substantial portion of the
Company’s assets if such transfer is to: 

  

	 	(i)	a shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to its stock; 

  

	 	(ii)	an entity 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company; 

  

	 	(iii)	a person or group (within the meaning of the Regulations under Section 409A of the Code) that owns, directly or indirectly, 50% or more of the total value or voting power of
the stock of the Company; or 

  

	 	(iv)	an entity, at least 50% of the total value or voting power of which is owned, directly or indirectly by a person or group described in Section 1(g)(3)(iii) of this
Program. 

 Notwithstanding Sections 1(g)(1), 1(g)(2)(i) and 1(g)(3) above, the consummation of a Business
Combination shall not be deemed a Change in Control if, immediately following such Business Combination: (a) more than 50% of the total voting power of the Surviving Corporation or, if applicable, the Parent Corporation of such Surviving
Corporation, is represented by Company Voting Securities that were outstanding immediately prior to the Business Combination (or, if applicable, shares into which such Company Voting Securities were converted pursuant to such Business Combination);
and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination; (b) no person (other than any
employee benefit plan sponsored or maintained by the Surviving Corporation or the Parent Corporation) is or becomes the beneficial owner, directly or indirectly, of 20% or more of the total voting power of the outstanding voting securities eligible
to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation; and (c) at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent
Corporation, the Surviving Corporation), following the Business Combination, were members of the Company’s Board at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination.

 Notwithstanding the foregoing, an acquisition of stock of the Company described in Section 1(g)(1) or 1(g)(2)(i) above
shall not be deemed to be a Change in Control by virtue of any of the following situations: (a) an acquisition by the Company or any Subsidiary; (b) an acquisition by any employee benefit plan sponsored or maintained by the Company or any
Subsidiary; (c) an acquisition by any underwriter temporarily holding securities pursuant to an offering of such securities; or (d) the acquisition of stock of the Company from the Company. 
  

	 	(h)	Change in Control Lump Sum Payment: The lump sum payment made upon a Change in Control as calculated under Section 4.03(b). 

  

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	 	(i)	Change in Control Severance Agreement: The agreement between an Eligible Executive and the Company that provides for certain benefits if the Eligible Executive’s
employment terminates following a Corporate Change Vesting Event; provided, that in the case of a former Participant who is receiving benefits under the Program, Change in Control Severance Agreement shall mean the change in control severance
agreement that was in effect between the Participant and the Company at the time of his or her retirement. 

  

	 	(j)	Code: The Internal Revenue Code of 1986, as amended, or any successor statute, and regulations and guidance issued thereunder. 

  

	 	(k)	Committee: The Human Resources and Compensation Committee of the Board. 

  

	 	(l)	Company: Parker-Hannifin Corporation, an Ohio corporation, its corporate successors, and the surviving corporation resulting from any merger of Parker-Hannifin Corporation
with any other corporation or corporations. 

  

	 	(m)	Company Voting Securities: Securities of the Company eligible to vote for the election of the Board. 

  

	 	(n)	Consolidated Plan: The Parker-Hannifin Consolidated Pension Plan as it currently exists and as it may subsequently be amended. 

  

	 	(o)	Contingent Annuitant: In the event of a Participant’s election of an annuity (other than a single life annuity) under Section 4.02(c) or the
Participant’s deemed election of an annuity under Section 6.02(a), the person designated by such Participant or deemed designated by such Participant as a contingent annuitant. 

  

	 	(p)	Corporate Change Vesting Event: The occurrence of one of the following events: 

  

	 	(1)	any “person” (as such term is defined in Section 3(a)(9) of the Securities Exchange Act of 1934 (the “Exchange Act”) and as used in Sections 13(d)(3) and
14(d)(2) of the Exchange Act) is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the
Company’s then outstanding Company Voting Securities; provided, however, that the event described in this paragraph shall not be deemed to be a Corporate Change Vesting Event by virtue of any of the following situations:

  

	 	(i)	an acquisition by the Company or any Subsidiary; 

  

	 	(ii)	an acquisition by any employee benefit plan sponsored or maintained by the Company or any Subsidiary; 

  

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	 	(iii)	an acquisition by any underwriter temporarily holding securities pursuant to an offering of such securities; 

  

	 	(iv)	a Non-Control transaction (as defined in paragraph (3)); 

  

	 	(v)	as pertains to a Participant, any acquisition by the Participant or any group of persons (within the meaning of Sections 13(d)(3) and 14(d)(2) of the Exchange Act) including the
Participant (or any entity in which the Participant or a group of persons including the Participant, directly or indirectly, holds a majority of the voting power of such entity’s outstanding voting interests); or 

  

	 	(vi)	the acquisition of Company Voting Securities from the Company, if a majority of the Board approves a resolution providing expressly that the acquisition pursuant to this clause
(vi) does not constitute a Corporate Change Vesting Event under this paragraph (1); 

  

	 	(2)	individuals who, at the beginning of any period of twenty-four (24) consecutive months, constitute the Board (the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board; provided, that any person becoming a director subsequent to the beginning of such twenty-four (24) month period, whose election, or nomination for election, by the Company’s shareholders was
approved by a vote of at least two-thirds of the directors comprising the Incumbent Board who are then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for
director, without objection to such nomination) shall be, for purposes of this paragraph (2), considered as though such person were a member of the Incumbent Board; provided, however, that no individual initially elected or nominated as a director
of the Company as a result of an actual or threatened election contest with respect to directors or any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed to be a member
of the Incumbent Board; 

  

	 	(3)	the consummation of a Business Combination, unless: 

  

	 	(i)	immediately following such Business Combination: 

  

	 	(A)	 more than 50% of the total voting power of the Surviving Corporation resulting from such Business Combination or, if applicable, the Parent Corporation of such
Surviving Corporation, is represented by Company Voting Securities that were outstanding immediately prior to the Business Combination (or, if applicable, shares into which such 

  

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Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same
proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination; 

  

	 	(B)	no person (other than any employee benefit plan sponsored or maintained by the Surviving Corporation or the Parent Corporation) is or becomes the beneficial owner, directly or
indirectly, of 20% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation); and 

  

	 	(C)	at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), following the Business
Combination, were members of the Incumbent Board at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination (a “Non-Control Transaction”); or 

  

	 	(ii)	the Business Combination is effected by means of the acquisition of Company Voting Securities from the Company, and a majority of the Board approves a resolution providing expressly
that such Business Combination does not constitute a Corporate Change Vesting Event under this paragraph (3); or 

  

	 	(4)	the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or the sale or other disposition of all or substantially all of the assets of
the Company and its Subsidiaries. 

 Notwithstanding the foregoing, a Corporate Change Vesting Event shall not be deemed to
occur solely because any person acquires beneficial ownership of more than 20% of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which, by reducing the number of Company Voting Securities
outstanding, increases the percentage of shares beneficially owned by such person; provided, that if a Corporate Change Vesting Event would occur as a result of such an acquisition by the Company (if not for the operation of this sentence), and
after the Company’s acquisition such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Corporate Change
Vesting Event shall then occur. 
 Notwithstanding anything in this Program to the contrary, if the Participant’s employment is
terminated prior to a Corporate Change Vesting Event, and the Participant 

  

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reasonably demonstrates that such termination was at the request of a third party who has indicated an intention or taken steps reasonably calculated to
effect a Corporate Change Vesting Event, then for all purposes of this Program, the date immediately prior to the date of such termination of employment shall be deemed to be the date of a Corporate Change Vesting Event for such Participant.

  

	 	(q)	Disability: The condition whereby a Participant is: 

  

	 	(1)	unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be
expected to last for a continuous period of not less than 12 months; or 

  

	 	(2)	by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12
months, receiving income replacement benefits for a period of not less than three months under the Executive Long-Term Disability Plan or any other accident and health plan covering employees of the Company. 

  

	 	(r)	Executive Long-Term Disability Plan: Parker-Hannifin Corporation Executive Long-Term Disability Plan, as it may be amended from time to time. 

  

	 	(s)	Highest Average Three-Year Compensation: One-third of the aggregate amount of compensation paid to a Participant from the Affiliated Group during the three calendar years of
the Participant’s employment which were the three highest years of annual compensation, including base salary, bonuses payable under the Company’s Return on Net Assets (RONA) Plan (except to the extent determined by the Committee to be
extraordinary) and Target Incentive Bonus Program, any amounts which would otherwise be paid as compensation during a calendar year but which are deferred by a Participant pursuant to any qualified or nonqualified deferred compensation program
sponsored by the Affiliated Group, and any amounts that would otherwise be paid as compensation during a calendar year but which are deferred under Section 125, 127, or 129 of the Code, but excluding: 

  

	 	(1)	any deferred compensation received during any such year but credited under the Program to the Participant for a prior year; 

  

	 	(2)	any income realized due to the exercise of stock options or stock appreciation rights; 

  

	 	(3)	any payments, in cash, deferred or otherwise, payable to the Participant under the Company’s Long-Term Incentive bonus program, under any extraordinary bonus arrangements,
under any severance agreement (other than as may be required under Section 4.03(b)), or as an executive perquisite; and 

  

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	 	(4)	such items as fringe benefits includible in income as compensation for federal tax purposes, moving and educational reimbursement expenses, overseas allowances received by the
Participant from the Affiliated Group, and any other irregular payments. 

  

	 	(t)	Life Expectancy: The expected remaining lifetime (to the nearest integer) based on the Mortality Table and the age at the nearest birthday of the Participant or Recipient at
the date the Lump Sum Payment or Change in Control Lump Sum Payment is made (unless otherwise specified herein). If a joint and contingent survivor annuity has been elected, then Life Expectancy shall reflect the joint Life Expectancy of the
Participant or Recipient and Contingent Annuitant. 

  

	 	(u)	Lump Sum Payment: The Lump Sum Payment provided in Section 4.02 with the amount determined as set forth in Section 4.03(a). 

 

	 	(v)	Mortality Table: For Participants who entered the Program before July 1, 2006, eighty percent (80%) of the 1983 Group Annuity Mortality factor (male only); for
Participants who entered the Program after June 30, 2006, the “applicable mortality table” prescribed under Section 417(e) of the Code for qualified plans. 

  

	 	(w)	Normal Retirement Date: As defined in the Consolidated Plan. 

  

	 	(x)	Parent Corporation: The ultimate parent corporation which directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of a
Surviving Corporation. 

  

	 	(y)	Participant: An employee of the Company designated to participate in the Program pursuant to Article 2 who has timely submitted a Participation Agreement to the
Company, while so employed; provided, however, that any employee of the Company who, as of the date of a Corporate Change Vesting Event, has entered into a Change in Control Severance Agreement with the Company shall automatically be a
Participant in the Plan. 

  

	 	(z)	Participation Agreement: An employee’s written or electronic agreement to participate in the Program and, to the extent permitted under Section 409A of the Code,
initial election of the form of payment of retirement benefits pursuant to Section 4.02(a). 

  

	 	(aa)	Profit Sharing Account Balance: As defined in the Consolidated Plan. 

  

	 	(bb)	Program: The Parker-Hannifin Corporation Amended and Restated Supplemental Executive Retirement Benefits Program set forth herein as it may subsequently be amended.

  

	 	(cc)	 PRP: The Parker-Hannifin Corporation Amended and Restated Pension 

  

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Restoration Plan as it currently exists and as it may subsequently be amended. 

  

	 	(dd)	Qualified Plan Death Benefit: The death benefit payable to the surviving spouse under the Consolidated Plan (and/or any death benefit payable to a surviving spouse under any
other defined benefit arrangement described in Sections 3.03(c), (d), or (h)), multiplied by a factor equal to 1 plus (0.025 multiplied by each year of Service less than 35 but equal to or greater than 15). Thus, the
factor will range from 1.5 at 15 years of Service to 1 at 35 or more years of Service, as illustrated by the following examples: 

  

			
	 Years of Service
	  	Factor
	 35 or more
	  	1.000
	 30
	  	1.125
	 25
	  	1.250
	 20
	  	1.375
	 15
	  	1.500

  

	 	(ee)	Recipient: A retiree, Contingent Annuitant, or Beneficiary, who is currently receiving benefits or is entitled to receive benefits under the Program.

  

	 	(ff)	Regulations: The regulations issued under Section 409A of the Code. Reference to any section of the Regulations shall be read to include any amendment or revision of
such Regulation. 

  

	 	(gg)	RIA Balance: The total contributions to the Participant’s Retirement Income Account under the Savings Plan (or any successor thereto) and the Participant’s
Nonqualified Retirement Income Account under the Parker-Hannifin Corporation Amended and Restated Savings Restoration Plan (or any successor thereto), plus hypothetical earnings/losses calculated as if the accounts had been invested from the time of
the first contribution 60% in the securities represented in the Standard & Poor’s 500 Index (in the proportions represented therein) and 40% in the securities represented in the Lehman Brothers Intermediate Government/ Corporate Bond
Fund Index (in the proportions represented therein). 

  

	 	(hh)	Savings Plan: The Parker Retirement Savings Plan as it currently exists and as it may subsequently be amended. 

  

	 	(ii)	Service: Employment as an employee by any member of the Affiliated Group, as well as employment by a corporation, trade or business, that is now part of the Affiliated Group
at a time prior to its becoming part of the Affiliated Group, but in such case only if and to the extent that the Committee shall so direct at any time prior to retirement. For purposes of determining a Participant’s eligibility to receive a
benefit hereunder, Service shall include any additional years credited to a Participant under Section 2.06. 

  

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	 	(jj)	Specified Employee: A person designated from time to time as such by the Committee pursuant to Section 409A(a)(2)(B)(i) of the Code and the Company’s policy
for determining specified employees. 

  

	 	(kk)	Specified Rate: The average of the daily closing On-The-Run Long Bond rates as displayed by the Bloomberg Professional Financial System at screen “GT 30 GVT” (or
any successor screen), for the second full calendar month preceding the month in which a Participant’s Termination of Employment occurs; provided that while 30-Year Treasury Bonds are issued by the U.S. Treasury, the Specified Rate shall be the
monthly average annual yield of 30-Year United States Treasury Bonds for constant maturities as published by the Federal Reserve Bank during the month in which a Participant’s Termination of Employment occurs and in effect on the first day of
the month following such Participant’s Termination of Employment. Notwithstanding the foregoing, for purposes of calculating a Change in Control Lump Sum Payment, the Specified Rate shall be the interest rate for immediate annuities of the
Pension Benefit Guaranty Corporation (PBGC) in effect on the date of the Change in Control as set forth in Appendix B to Part 2619 of 29 Code of Federal Regulations, or any other successor or similar rate. 

  

	 	(ll)	Subsidiary: Any corporation or other entity in which the Company has a direct or indirect ownership interest of 50% or more of the total combined voting power of the then
outstanding securities or interests of such corporation or other entity. 

  

	 	(mm)	Surviving Corporation: The corporation resulting from a Business Combination. 

  

	 	(nn)	Termination of Employment: A Participant’s “separation from service” with the Affiliated Group, within the meaning of Section 1.409A-1(h) of the
Regulations; provided, that in applying Section 1.409A-1(h)(ii) of the Regulations, a separation from service shall be deemed to occur if the Company and the Participant reasonably anticipate that the level of bona fide services the Participant
will perform for the Affiliated Group after a certain date (whether as an employee or as an independent contractor) will permanently decrease to less than 50% of the average level of bona fide services performed by the Participant for the Affiliated
Group (whether as an employee or as an independent contractor) over the immediately preceding 36-month period (or the full period of services performed for the Affiliated Group if the Participant has been providing services to the Affiliated Group
for less than 36 months). In the event of a disposition of assets by the Company to an unrelated person, the Company reserves the discretion to specify (in accordance with Section 1.409A-1(h)(4) of the Regulations) whether a Participant, who
would otherwise experience a separation from service with the Affiliated Group as part of the disposition of assets, will be considered to experience a separation from service for purposes of Section 1.409A-1(h) of the Regulations.

  

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	2.	Participation 

 2.01 Participants. The
Participants in the Program shall be: 
  

	 	(a)	such officers and other key executives of the Company as shall be designated as Participants from time to time by the Committee, and who have submitted to the Company, within 30
days after such designation, a Participation Agreement evidencing agreement to the terms of the Program, including, but not limited to, the non-competition provisions of Article 7; and 

  

	 	(b)	upon a Corporate Change Vesting Event, those individuals who have entered into a Change in Control Severance Agreement with the Company as of the date of such Corporate Change
Vesting Event. 

 2.02 Designation of Participants. An individual may be designated a Participant by action of the
Committee or in a written employment agreement approved by the Committee. Participation of each individual designated as a Participant shall be subject to the terms, conditions, and limitations set forth in the Program and to such other terms,
conditions and limitations as the Committee may, in its discretion, impose upon the participation of any such individual at the time the individual is designated a Participant in the Program. 
 2.03 Continuation of Participation. Subject only to the provisions of Section 2.04 and Article 7, an individual designated as a
Participant shall continue to be a Participant for the purpose of eligibility to receive the supplemental retirement benefits provided by the Program and his or her participation in the Program shall not be terminated; provided, however, that a
Participant who terminates employment at a time when he or she is not eligible for a benefit under Article 3 shall cease to be a Participant in the Program. 
 2.04 Effect of Voluntary Termination of Employment. To be eligible for supplemental retirement benefits under the Program a Participant shall not voluntarily Terminate Employment with the Company without the
consent of the Committee for a period, not exceeding 60 calendar months, set by the Committee at the time he is designated a Participant. If a Participant voluntarily Terminates his or her Employment within such period, his or her participation in
the Program shall terminate, he or she shall cease to be a Participant and (subject to Section 3.02) shall forfeit all benefits under the Program. Notwithstanding the foregoing, for purposes of this Section 2.04, in no event
shall an exercise by a Participant of his or her right to Terminate his or her Employment for “Good Reason” (as defined under any Change in Control Severance Agreement between the Participant and the Company) following a Corporate Change
Vesting Event be deemed to be a voluntary Termination of Employment with the Company. 
 2.05 13-Month Service Requirement.
Notwithstanding any other provision of this Program and commencing with employees designated as Participants on and after January 1, 2009, a Participant shall not be eligible for supplemental retirement benefits under the Program unless the
Participant remains employed by the Affiliated Group until the date that is 13 months after the date upon which he is designated as a Participant; provided, however, that the 13-month 

  

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service requirement of this Section 2.05 shall be deemed to be satisfied upon the earlier of the Participant’s death, Disability, or the
occurrence of a Change in Control. 
 2.06 Additional Age and Service Credit and Compensation Amount. Notwithstanding any other
provision of this Program, for purposes of determining the amount of any benefits payable under Sections 3.03, 3.04, 4.02(e), 4.03, 4.04, 5.01 and 6.02 of this Program to any Participant who has entered into a Change in Control
Severance Agreement with the Company, upon the date of a Corporate Change Vesting Event, 
  

	 	(a)	such Participant (but not a Recipient) shall be treated as having been employed, for purposes of determining age and service under this Program, for the lesser of:

  

	 	(1)	the duration of the “Termination Period”, if any, under the Participant’s Change in Control Severance Agreement; or 

  

	 	(2)	the period of time remaining until Normal Retirement Date; and 

  

	 	(b)	such Participant’s Highest Average Three-Year Compensation shall be the greater of: 

  

	 	(1)	the amount that would otherwise be taken into account in determining the Participant’s benefit under the Program; or 

  

	 	(2)	the lump sum severance payment that would be made under Section 2(a)(ii) of the Participant’s (but not the Recipient’s) Change in Control Severance Agreement (as if
he had been terminated immediately following the Corporate Change Vesting Event) divided by the multiple used under such section of the Change in Control Severance Agreement to determine severance pay. 

  

	3.	Supplemental Retirement Benefits 

 3.01
Eligibility At or After Normal Retirement Date. Any provision of Section 2.04 to the contrary notwithstanding, provided that the 13-month service requirement of Section 2.05 is satisfied, any Participant with at least
120 [60 as of 04/22/09] calendar months of Service who Terminates his or her Employment with the Affiliated Group on or after his or her Normal Retirement Date shall be eligible for a monthly supplemental retirement benefit computed as set forth in
Section 3.03. 
 3.02 Eligibility Prior to Normal Retirement Date. Provided that the 13-month service requirement of
Section 2.05 is satisfied, any Participant with at least 120 [60 as of 04/22/09] calendar months of Service: 
  

	 	(a)	who Terminates his or her Employment with the Affiliated Group with the consent of the Committee after attainment of age 55; or 

  

 13 

	 	(b)	who is employed at the time of a Corporate Change Vesting Event; or 

  

	 	(c)	whose Employment with the Affiliated Group is Terminated by the Company for reasons other than for cause (as determined solely by the Committee) after attainment of age 55 but prior
to the expiration of the requisite period of employment established by the Committee with respect to the Participant pursuant to Section 2.04; or 

  

	 	(d)	who Terminates the Participant’s Employment with the Affiliated Group prior to his or her Normal Retirement Date due to Disability or with entitlement to any benefits under the
Executive Long-Term Disability Plan; or 

  

	 	(e)	who Terminates his or her Employment with the Affiliated Group after attainment of age 60 (and after completion of the requisite period of employment established by the Committee
with respect to him or her pursuant to Section 2.04) but prior to his or her Normal Retirement Date; shall be eligible for a monthly supplemental retirement benefit as set forth in Section 3.04. 

 3.03 Amount of Normal Retirement Supplemental Benefit. The monthly supplemental retirement benefit payable to an eligible
Participant at Normal Retirement Date shall be an amount equal to  1/12th of 55% of the Participant’s Highest Average Three-Year
Compensation, reduced by all of the following that are applicable: 
  

	 	(a)	in the case of a Participant who does not have at least 15 years of Service at the time of his or her retirement, .3055 percent for each calendar month the Participant’s
Service is less than 15 years; 

  

	 	(b)	the monthly single life Actuarial Equivalent of any benefit to which the Participant is entitled under the Consolidated Plan, including the single life monthly equivalent
attributable to the Participant’s Profit-Sharing Account Balance, determined as if the Profit-Sharing Account Balance had remained in the Consolidated Plan until retirement, whether or not such Profit-Sharing Account Balance has been
transferred to the Savings Plan; 

  

	 	(c)	the monthly single life Actuarial Equivalent of any benefit to which the Participant is entitled under any other tax-qualified or other tax-favored defined benefit plan of the
Company and which is attributable to contributions of the Company, unless benefit service for employment on which such benefit is based is credited to the Participant under the Consolidated Plan; 

  

	 	(d)	the monthly single life Actuarial Equivalent of any benefit to which the Participant is entitled under the PRP; 

  

	 	(e)	the monthly single life Actuarial Equivalent of any benefit attributable to the Participant’s RIA Balance; 

  

 14 

	 	(f)	the monthly single life Actuarial Equivalent of any benefit attributable to any non-US defined benefit or defined contribution program where the program is the primary retirement
program of the Participant and where the benefit is attributable solely to contributions of the Company and its Subsidiaries; 

  

	 	(g)	50 percent of the monthly primary Social Security benefit, or 100 percent of the portion of any other state-provided retirement benefits which is attributable to contributions by
the Company and its Subsidiaries, to which the Participant is entitled or would be entitled as of the earliest date following the Participant’s Termination of Employment for which Social Security benefits or other state-provided retirement
benefits would be payable (whether or not Social Security benefits or other state-provided retirement benefits are actually paid to the Participant at such time), with such reduction to begin at the earliest date after retirement for which Social
Security benefits or other state-provided retirement benefits would be payable to the Participant; 

  

	 	(h)	the monthly single life Actuarial Equivalent of any benefit which the Participant is entitled to receive from any previous employer, provided that a contract between the Participant
and the Company grants the Participant service for service with the previous employer and the contract states the amount to be offset; and 

  

	 	(i)	the excess, if any, of: 

  

	 	(1)	the sum of: 

  

	 	(i)	the monthly benefit determined after application of the foregoing provisions of this Section 3.03; and 

  

	 	(ii)	the monthly long-term disability benefits to which the Participant is entitled under the Executive Disability Plan, over 

  

	 	(2)	 an amount equal to  1/12
th of 66 2/3% of the Participant’s compensation (as defined in the Executive Disability
Plan). 

 Notwithstanding the foregoing provisions of this Section 3.03, if the
Participant’s PRP monthly benefit will commence to be paid 5 years later than the Participant’s monthly supplemental retirement benefit under this Program in accordance with Section 3.3(b)(iii) of the PRP, then the amount of the
Participant’s monthly supplemental retirement benefit shall be the monthly single life actuarial equivalent (determined using the assumptions specified in this Program) of the excess of: 
  

	 	(a)	the present value (using the Specified Rate and Mortality Table in effect on the first day of the month following the Participant’s Termination of Employment) of the amount of
the monthly benefit determined under the foregoing provisions of this Section 3.03, disregarding Section 3.03(d), over 

  

 15 

	 	(b)	the Actuarial Value of the monthly benefit described in Section 3.03(d), discounted (using the Specified Rate in effect on the first day of the month following the
Participant’s Termination of Employment) from the scheduled date of commencement of payment of the PRP benefit to the scheduled date of commencement of the monthly supplemental retirement benefit. 

 3.04 Amount of Early Retirement Supplemental Benefit. The monthly supplemental retirement benefit payable to a Participant who
retires prior to Normal Retirement Date shall be an amount equal to  1/12th of 55 percent of the Highest Average Three-Year Compensation, reduced by all of the following that are applicable: 
  

	 	(a)	in the case of a Participant who does not have at least 15 years of Service at the time of his or her retirement, .3055 percent for each month that his or her Service is less than
15 years; 

  

	 	(b)	after applying Section 3.04(a) if applicable, .1515 percent for each of the first 60 months by which commencement of the benefit precedes Normal Retirement Date, and by
..3030 percent for each additional month by which commencement of the benefit precedes Normal Retirement Date; provided, however, that if the Participant has at least 30 years of Service, and entitlement to payment is a result of a
Change in Control, the .1515 shall be reduced to .07575, and the .3030 shall be reduced to .1515; 

  

	 	(c)	any amounts described in Sections 3.03(b)-(h); and 

  

	 	(d)	the excess, if any, of: 

  

	 	(1)	the sum of: 

  

	 	(i)	the monthly benefit determined after application of the foregoing provisions of this Section 3.04; and 

  

	 	(ii)	the monthly long-term and short-term disability benefits to which the Participant is entitled under the Executive Disability Plan, over 

  

	 	(2)	 an amount equal to  1/12
th of 66 2/3% of the Participant’s compensation (as defined in the Executive Disability
Plan). 

 Notwithstanding the foregoing provisions of this Section 3.04, if the
Participant’s PRP monthly benefit will commence to be paid 5 years later than the Participant’s monthly supplemental retirement benefit under this Program in accordance with Section 3.3(b)(iii) of the PRP, then the amount of the
Participant’s monthly supplemental retirement benefit shall be the monthly single life actuarial equivalent (determined using the assumptions specified in this Program) of the excess of: 
  

 16 

	 	(a)	the present value (using the Specified Rate and Mortality Table in effect on the first day of the month following the Participant’s Termination of Employment) of the amount of
the monthly benefit determined under the foregoing provisions of this Section 3.04, disregarding Section 3.03(d), over 

  

	 	(b)	the Actuarial Value of the monthly benefit described in Section 3.03(d), discounted (using the Specified Rate in effect on the first day of the month following the
Participant’s Termination of Employment) from the scheduled date of commencement of payment of the PRP benefit to the scheduled date of commencement of the monthly supplemental retirement benefit. 

 3.05 Gross-Up Payment. Anything in this Program notwithstanding, in the event it shall be determined that any payment, distribution or
acceleration of vesting of any benefit hereunder would be subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by the Participant with respect to such excise tax, then the Participant shall be
entitled to receive an additional payment calculated as set forth in the Change in Control Severance Agreement with respect to such benefit hereunder; provided, however, that there shall be no duplication of such additional payment under this
Program and the Change in Control Severance Agreement, and provided further that any such payment shall be made by the end of the calendar year after the Participant pays the excise tax (and interest or penalties incurred), or as otherwise required
by Section 409A of the Code. 
  

	4.	Payment of Benefits 

 4.01 Commencement of
Benefits. Subject to Sections 4.02 (a) through (f), supplemental retirement benefits shall be paid or commence to be paid to an eligible Participant as of the first day of the month following Termination of Employment and if
applicable terminating with the month in which the death of such Participant occurs; provided, however, that supplemental retirement benefits shall be paid or commence to be paid to a Specified Employee on the first day of the seventh month
following the Participant’s Termination of Employment with the present value of a Lump Sum Payment referred to in Section 4.02(a) determined based on the Participant’s age on the first day of the seventh month following the
Participant’s Termination of Employment and the actuarial assumptions in effect on the first day of the month following the Participant’s Termination of Employment and in the case of payments made in the form of an annuity shall include
any payments that would have been made between the Participant’s Termination of Employment and the actual commencement of payment if the Participant had not been a Specified Employee. Notwithstanding the foregoing, to the extent required by
Section 4.02(b), payment of a Participant’s supplemental retirement benefit shall commence or be made on the date that is five years from the date payment would otherwise commence or be made under this Section 4.01.

 4.02 Payments Under Certain Situations. 
  

	 	(a)	 Initial Election of Payment Form. To the extent permitted by Section 1.409A-2(a)(5) of the Regulations, within 30 days of the time an individual is
designated as a Participant under this Program, he may elect, on his or her initial 

  

 17 

	 	 
Participation Agreement, to receive payment of his or her supplemental retirement benefit under this Program in the form of a single Lump Sum Payment, or in
the form of a single life annuity. In the event that a Participant fails to make a valid election, the Participant’s supplemental retirement benefit under this Program shall be paid in the form of a single life annuity.

  

	 	(b)	One-Time Change by Participant. In addition to any election pursuant to Section 4.02(c) or 4.02(d), a Participant shall be allowed a one-time election to
change the form of payment of his or her supplemental retirement benefit; provided, however, that: 

  

	 	(1)	any such election shall not be effective for at least 12 months following the date made; and 

  

	 	(2)	as a result of any such election, payment shall be delayed for 5 years from the date the payment was scheduled to commence or to be made (taking into account any delay in payment or
commencement of payment under Section 4.01 on account of a Participant’s status as a Specified Employee). 

  

	 	(c)	Changes Between Actuarially Equivalent Forms of Annuity. A Participant may elect at any time prior to Termination of Employment to convert his or her supplemental retirement
benefit payable as an annuity to any of the Actuarially Equivalent forms of annuity offered under the Consolidated Plan. 

  

	 	(d)	Transitional Rule. Notwithstanding any other elections under this Program and only to the extent permitted by the Company and transitional rules issued under
Section 409A of the Code, through such date as specified by the Committee pursuant to transitional guidance issued under Section 409A of the Code, a Participant may make one or more elections as to time and form of payment of his or her
supplemental retirement benefit under this Program, provided that: 

  

	 	(1)	any such election(s) made during 2006 shall be available only for amounts that are payable after the 2006 calendar year and cannot accelerate any payment into the 2006 calendar
year; 

  

	 	(2)	any such election(s) made during 2007 shall be available only for amounts that are payable after the 2007 calendar year and cannot accelerate any payment into the 2007 calendar
year; and 

  

	 	(3)	any such election(s) made during 2008 shall be available only for amounts that are payable after the 2008 calendar year and cannot accelerate any payment into the 2008 calendar
year. Any election(s) must be made by the date specified by the Committee consistent with guidance pursuant to Section 409A of the Code. 

  

 18 

	 	(e)	Payment Upon a Change in Control. 30 days after a Change in Control, in lieu of any other payments due with respect to benefits earned under the Program to the date of the
Change in Control, each Participant and each Recipient shall receive a Change in Control Lump Sum Payment, as calculated under Section 4.03(b). 

  

	 	(f)	Special Rule Applicable to Specified Employees. If a Specified Employee dies after Termination of Employment but prior to commencement of benefits, the Specified
Employee’s Beneficiary shall receive a payment as of the first of the month following the Specified Employee’s date of death equal to the aggregate of the monthly payments that would have been made to the Specified Employee in accordance
with Section 4.01 but substituting the Specified Employee’s date of death for the actual commencement of payment; provided however that if the Specified Employee’s supplemental retirement benefit is payable in the form of a
lump sum, such amount shall be calculated in accordance with Section 4.03 but substituting the Specified Employee’s date of death for the first day of the seventh month following the Participant’s Termination of Employment. Any
additional amounts payable to the Specified Employee’s Beneficiary shall be determined as of the Specified Employee’s date of death in accordance with the form of payment applicable to the Specified Employee as of the Specified
Employee’s Termination of Employment. 

 4.03 Determination of the Lump Sum Payment. 
  

	 	(a)	If the Participant is a Specified Employee immediately prior to Termination of Employment, the Lump Sum Payment referred to in Section 4.02(a) shall be equal to the sum
of: 

  

	 	(1)	the aggregate monthly benefits the Participant would have received under the Single Life Annuity form of payment prior to the first day of the seventh month following the
Participant’s Termination of Employment if the Participant were not a Specified Employee; plus 

  

	 	(2)	the excess of: 

  

	 	(i)	the present value (using the Specified Rate and Mortality Table in effect on the first day of the month following the Participant’s Termination of Employment), determined as of
the first day of the seventh month following the Participant’s Termination of Employment, of the monthly benefit determined under Section 3.03 or 3.04, as applicable, disregarding Section 3.03(d) and the monthly
“add-on” benefit as set forth on Addendum XV of the Consolidated Plan (if applicable) included in Section 3.03(b), over 

  

	 	(ii)	the sum of: 

  

 19 

	 	(A)	the present value (as defined in the Consolidated Plan) of the “add-on” benefit set forth on Addendum XV of the Consolidated Plan if applicable) included in
Section 3.03(b), plus 

  

	 	(B)	the Actuarial Value of the monthly benefit described in Section 3.03(d), provided that if the Participant’s PRP benefit will be paid 5 years later than the
Participant’s SERP benefit in accordance with Section 3.3(b)(iii) of the PRP, the amount referred to in (B) above shall equal the lump sum Actuarial Value of the monthly benefit described in Section 3.03(d), discounted
(using the Specified Rate in effect on the first day of the month following the Participant’s Termination of Employment) from the scheduled date of payment of such benefit to the scheduled date of payment of the SERP Lump Sum Payment.

 If the Participant is not a Specified Employee immediately prior to Termination of Employment, the Lump Sum
Payment referred to in Section 4.02(a) shall be equal to the excess of: (1) the present value (using the Specified Rate and Mortality Table in effect on the first day of the month following the Participant’s Termination of
Employment) of the monthly benefit determined under Section 3.03 or 3.04, as applicable, disregarding Section 3.03(d) and the monthly “add-on” benefit as set forth on Addendum XV of the Consolidated Plan (if
applicable) included in Section 3.03(b), over (2) the sum of (i) the present value (as defined in the Consolidated Plan) of the “add-on” benefit as set forth in Addendum XV of the Consolidated Plan (if applicable)
included in Section 3.03(b) plus (ii) the Actuarial Value of the monthly benefit described in Section 3.03(d), provided that if the Participant’s PRP benefit will be paid 5 years later than the Participant’s
SERP benefit in accordance with Section 3.3(b)(iii) of the PRP, the amount referred to in (ii) above shall equal the lump sum Actuarial Value of the monthly benefit described in Section 3.03(d), discounted (using the Specified
Rate in effect on the first day of the month following the Participant’s Termination of Employment) from the scheduled date of payment of such benefit to the scheduled date of payment of the SERP Lump Sum Payment. 
 For purposes of this Section 4.03(a), present value for a Participant who entered the Program before July 1, 2006 shall
be determined assuming that the Participant lives the number of years equal to his or her Life Expectancy on the date of his or her Termination of Employment (or, in the case of a Specified Employee, on the first day of the seventh month following
the Participant’s Termination of Employment). For purposes of this Section 4.03(a), Actuarial Value shall be determined as provided under the PRP. 
  

 20 

	 	(b)	The Change in Control Lump Sum Payment referred to in Section 4.02(e) shall be equal to the amount determined under Section 4.03(a) using the following
assumptions: 

  

	 	(1)	present value is determined using the Specified Rate and Mortality Table; 

  

	 	(2)	for purposes of determining present value for a Participant who entered the Program before July 1, 2006, the Participant (or, if applicable, Recipient) lives the number of
years equal to his or her Life Expectancy (calculated as of the date which includes any additional Service credited hereunder); 

  

	 	(3)	Actuarial Value shall be determined as provided under the PRP; and 

  

	 	(4)	with respect to any benefit to be deducted as an offset as described in Section 3.03(b) through (i), the Participant terminated employment with the Company on the date
of the Change in Control and began to receive such benefits at the earliest date thereafter permitted under the applicable plan, agreement or statute. 

 4.04 Certain Matters Following a Lump Sum Payment. 
  

	 	(a)	A Participant who has received a Change in Control Lump Sum Payment pursuant to Section 4.02(e) shall thereafter: 

  

	 	(1)	while in the employ of the Company, continue to accrue benefits under the Program; and 

  

	 	(2)	be eligible for further benefits under Section 4.01 or 4.02. The amount of such benefit shall be determined by: 

  

	 	(i)	calculating the benefit that would be payable to the Participant if there had been no previous Change in Control Lump Sum Payment; 

  

	 	(ii)	determining the present lump sum value of such benefit, using the Specified Rate and the Mortality Table and, for a Participant who entered the Program before July 1, 2006,
assuming the Participant lives the number of years equal to his or her Life Expectancy on the date of the Participant’s Termination of Employment; 

  

	 	(iii)	determining the present lump sum value of the Change in Control Lump Sum Payment, assuming the Change in Control Lump Sum Payment had earned interest at the average Specified Rate
in effect from the time of payment of the Change in Control Lump Sum Payment until the date of Termination of Employment; 

  

 21 

	 	(iv)	reducing the amount determined in (ii) by the amount determined in (iii); and 

  

	 	(v)	if applicable, converting the amount determined in (iv) to an Actuarially Equivalent single life only form of payment. 

  

	5.	Disability Benefits 

 5.01 Amount. If a
Participant suffers a Disability, the Company shall pay the supplemental retirement benefit described in Section 3.02 to the Participant; provided, however, that the provisions of Article 4 regarding payment to a Specified
Employee and the 5-year delay of payments following certain elections shall be disregarded for purposes of the payment of benefits pursuant to this Article 5. 
 5.02 Form of Disability Benefits. A Participant’s disability benefit pursuant to this Article 5 shall be paid in the form of a single life annuity; provided, however, that if the Participant is
married to a person who has been the Participant’s spouse for at least one year immediately prior to the date of the Participant’s Disability, the Participant’s disability benefit shall be paid in the form of a joint and 100% survivor
annuity. 
 5.03 Time of Payment of Disability Benefits. Payment of a Participant’s disability benefit shall commence as of the
first of the month following the Participant’s Disability. 
  

	6.	Death Benefits 

 6.01 Eligibility. If a
Participant dies after completing 120 [60 as of 04/22/09] calendar months of Service (without regard to the requirements of Section 2.04) but prior to the Participant’s Termination of Employment, his or her Beneficiary shall be
eligible for a benefit under this Article 6. 
 6.02 Benefit Amount. 
  

	 	(a)	The amount of the benefit payable under this Article 6 to a deceased Participant’s Beneficiary shall be equal to the present value (using the Specified Rate and
Mortality Table in effect on the first day of the month following the Participant’s death) of the total monthly payments the Beneficiary would have received had the Participant retired on the day before his or her death after having effectively
elected to receive payment in the form of a Joint and 100% Survivor Annuity under the Program, with his or her Beneficiary as Contingent Annuitant under such option; provided, that: 

  

	 	(1)	 in lieu of the offset for the Participant’s primary Social Security benefit under Section 3.03(g), the benefit to the Beneficiary shall be offset
by 50% of the primary or survivor Social Security benefit to which the 

  

 22 

	 	 
Beneficiary is entitled at the earliest date as of which such payments become payable; and 

  

	 	(2)	in lieu of the offset for the Consolidated Plan benefit set forth in Section 3.03(b) (and/or any other retirement benefit under any defined benefit arrangement described
in Sections 3.03(c), (d), or (h)), the benefit to the Beneficiary shall be offset by the Qualified Plan Death Benefit. For purposes of this Section 6.02(a), present value for the Beneficiary of a deceased Participant who entered
the Program before July 1, 2006 shall be determined assuming that the Beneficiary lives the number of years equal to his or her Life Expectancy on the date of death of the Participant. 

  

	 	(b)	If the estate is the death beneficiary as a result of the Participant not having a Beneficiary, the Participant’s estate shall receive a lump sum payment equal to the present
value (using the Specified Rate and Mortality Table in effect on the first day of the month following the Participant’s death) of the total monthly payments that would have been paid to the Participant assuming the Participant had not died but
rather: 

  

	 	(1)	retired on the day before the date of his or her death (or the first day of the month following the time he would have reached age 55, if later); 

  

	 	(2)	elected a 10-Year Certain Annuity; and 

  

	 	(3)	received 120 monthly payments. For purposes of this Section 6.02(b), present value for the estate of a deceased Participant who entered the Program before July 1,
2006 shall be determined assuming that the Participant had lived the number of years equal to his or her Life Expectancy on the date of his or her death. 

  

	 	(c)	If the Participant dies before reaching the age that is ten years prior to the Participant’s Normal Retirement Date, then the monthly payments used to determine the death
benefit under Section 6.02(a) or Section 6.02(b), as applicable, shall be further reduced by .3030 for each month that the Participant’s death preceded his or her Normal Retirement Date. 

 6.03 Benefit Payments. The benefit under this Article 6 shall be paid to the deceased Participant’s Beneficiary, or, if no such
Beneficiary, to the Participant’s estate, in a single lump sum payment as of the first of the month following the date of the Participant’s death, and the provisions of Article 4 regarding payment to a Specified Employee and the
5-year delay of payments following certain elections shall be disregarded for purposes of the payment of benefits pursuant to this Article 6. 
  

 23 

	7.	Non-Competition 

 7.01 Condition of Payment.
Payment of supplemental retirement benefits under the Program shall be subject to the condition that the Participant or retiree-Recipient shall not have engaged in competition (as defined in Section 7.02) with the Company at any time
prior to the date of such payment; provided, however, that this Section 7.01 shall not apply to a Participant following his or her Termination of Employment if such Termination of Employment occurs after the date of a Corporate
Change Vesting Event that occurs at the time the Participant is actively employed by the Affiliated Group. 
 7.02 Competition.
Competition for purposes of the Program shall mean assuming an ownership position or a consulting, management, employee or director position with a business engaged in the manufacture, processing, purchase or distribution of products of the type
manufactured, processed or distributed by the Affiliated Group; provided, however, that in no event shall ownership of less than two percent of the outstanding capital stock entitled to vote for the election of directors of a corporation with a
class of equity securities held of record by more than 500 persons in itself be deemed Competition; and provided further, that all of the following shall have taken place: 
  

	 	(a)	the Secretary of the Company shall have given written notice to the Participant or retiree-Recipient that, in the opinion of the Committee, the Participant or retiree-Recipient is
engaged in Competition within the meaning of the foregoing provisions of this Section 7.02, specifying the details; 

  

	 	(b)	the Participant or retiree-Recipient shall have been given a reasonable opportunity, upon receipt of such notice, to appear before and to be heard by the Committee with respect to
his or her views regarding the Committee’s opinion that the Participant or retiree-Recipient engaged in Competition; 

  

	 	(c)	following any hearing pursuant to Section 7.02(b), the Secretary of the Company shall have given written notice to the Participant or retiree-Recipient that the
Committee determined that the Participant or retiree-Recipient is engaged in Competition; and 

  

	 	(d)	the Participant or retiree-Recipient shall neither have ceased to engage in such Competition within thirty days from his or her receipt of notice of such determination nor
diligently taken all reasonable steps to that end during such thirty-day period and thereafter. 

  

	8.	Beneficiary Designation 

 The Participant shall have
the right, at any time, to designate any person or persons as Beneficiary (both primary and contingent) to whom payment under the Plan shall be made in the event of the Participant’s death. The Beneficiary designation shall be effective when it
is submitted in writing to the Committee during the Participant’s lifetime on a form prescribed by the Committee. 
  

 24 

 The submission of a new Beneficiary designation shall cancel all prior Beneficiary designations. Any
finalized divorce or marriage of a Participant subsequent to the date of a Beneficiary designation shall revoke such designation, unless in the case of divorce the previous spouse was not designated as Beneficiary and unless in the case of marriage
the Participant’s new spouse has previously been designated as Beneficiary. The spouse of a married Participant shall consent to any designation of a Beneficiary other than the spouse, and the spouse’s consent shall be witnessed by a
notary public. 
 If a Participant fails to designate a Beneficiary as provided above, or if the Beneficiary designation is revoked by
marriage, divorce, or otherwise without execution of a new designation, or if every person designated as Beneficiary predeceases the Participant or dies prior to complete distribution of the Participant’s benefits, then the Committee shall
direct the distribution of such benefits to the estate of the last to die of the Participant and the Beneficiaries. 
  

	9.	General Provisions 

 9.01 Claims Procedure.
The Company shall notify a Participant in writing, within ninety (90) days after his or her written application for benefits, of his or her eligibility or noneligibility for benefits under the Program. If the Company determines that a
Participant is not eligible for benefits or full benefits, the notice shall set forth: 
  

	 	(a)	the specific reasons for such denial; 

  

	 	(b)	a specific reference to the provisions of the Program on which the denial is based; 

  

	 	(c)	a description of any additional information or material necessary for the claimant to perfect his or her claim, and a description of why it is needed; and 

 

	 	(d)	an explanation of the Program’s claims review procedure and other appropriate information as to the steps to be taken if the Participant wishes to have the claim reviewed. If
the Company determines that there are special circumstances requiring additional time to make a decision, the Company shall notify the Participant of the special circumstances and the date by which a decision is expected to be made, and may extend
the time for up to an additional ninety-day period. 

 9.02 Review Procedure. If a Participant is determined by the
Company not to be eligible for benefits, or if the Participant believes that he or she is entitled to greater or different benefits, the Participant shall have the opportunity to have such claim reviewed by the Company by filing a petition for
review with the Company within sixty (60) days after receipt of the notice issued by the Company. The petition shall state the specific reasons which the Participant believes entitle him or her to benefits or to greater or different benefits.
Within sixty (60) days after receipt by the Company of the petition, the Company shall afford the Participant (and counsel, if any) an opportunity to present his or her position to the Company in writing, and the Participant (or counsel) shall
have the right to review the pertinent documents. The Company shall notify the Participant of its decision in writing within the sixty-day period, stating specifically the basis of its decision, written in a manner calculated to be understood by the

  

 25 

 
Participant and the specific provisions of the Program on which the decision is based. If the sixty-day period is not sufficient, the decision may be
deferred for up to another sixty-day period at the election of the Company, but notice of this deferral shall be given to the Participant. In the event of the death of the Participant, the same procedures shall apply to the Participant’s
Beneficiary. 
 9.03 ERISA Plan. The Program is intended to be an unfunded plan maintained primarily to provide deferred compensation
benefits for “a select group of management or highly compensated employees” within the meaning of Sections 201, 301 and 401 of ERISA and therefore to be exempt from Parts 2, 3 and 4 of Title I of ERISA. 
 9.04 Trust. The Company shall be responsible for the payment of all benefits under the Program. At its discretion, the Company may establish one
or more grantor trusts for the purpose of providing for payment of benefits under the Program. Such trust or trusts may be irrevocable, but the assets thereof shall be subject to the claims of the Company’s creditors. Benefits paid to a
Participant from any such trust shall be considered paid by the Company for purposes of meeting the obligations of the Company under the Program. 
 9.05 Rights of Participants. Except as expressly provided in any grantor trust agreement established by the Company: 
  

	 	(a)	no Participant or Recipient shall have any right, title, or interest whatsoever in or to any investments which the Company may make to aid it in meeting its obligations under the
Program; 

  

	 	(b)	nothing contained in the Program shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any Participant, Recipient or any
other person; 

  

	 	(c)	to the extent that any person acquires a right to receive payments from the Company under the Program, such right shall be no greater than the right of an unsecured general creditor
of the Company; and 

  

	 	(d)	all payments to be made under the Program shall be paid from the general funds of the Company and no special or separate fund shall be established and no segregation of assets shall
be made to assure payment of amounts payable under the Program. 

 9.06 Administration. The Committee shall be
responsible for the general administration of the Program and for carrying out the provisions thereof. Any act authorized, permitted or required to be taken by the Company under the Program may be taken by action of the Committee. Subject to the
provisions of Section 9.01 relating to denial of claims and claims review procedure, any action taken by the Committee which is authorized, permitted or required under the Program shall be final and binding upon the Company, all persons
who have or who claim an interest under the Program, and all third parties dealing with the Company. 
  

 26 

 9.07 Program Non-Contractual. Nothing herein contained shall be construed as a commitment or
agreement on the part of any person to continue his or her employment with the Company, and nothing herein contained shall be construed as a commitment on the part of the Company to continue the employment or the rate of compensation of any such
person for any period, and all employees of the Company shall remain subject to discharge to the same extent as if the Program had never been put into effect. 
 9.08 Non-Alienation of Retirement Rights or Benefits. No right or benefit under the Program shall at any time be subject in any manner to alienation or encumbrances. If any person shall attempt to, or shall,
alienate or in any way encumber his or her rights or benefits under the Program, or any part thereof, or if by reason of his or her bankruptcy or other event happening at any time any such benefits would otherwise be received by anyone else or would
not be enjoyed by him or her, his or her interest in all such benefits shall automatically terminate and the same, at the discretion of the Company, shall be held or applied to or for the benefit of such person, his or her spouse, children, or other
dependents as the Company may select. 
 9.09 Payment of Benefits to Others. If any person to whom a retirement benefit is payable is
unable to care for his or her affairs because of illness or accident, any payment due (unless prior claim therefor shall have been made by a duly qualified guardian or legal representative) may be paid to the spouse, parent, brother, or sister, or
any other individual deemed by the Company to be maintaining or responsible for the maintenance of such person. Any payment made in accordance with the provisions of this Section 9.09 shall be a complete discharge of any liability of the
Program with respect to the retirement benefit so paid. 
 9.10 Notices. All notices provided for by the Program shall be in writing
and shall be sufficiently given if and when mailed in the continental United States by registered or certified mail or personally delivered to the party entitled thereto at the address stated below or to such changed address as the addressee may
have given by a similar notice: 
  

			
	To the Company:	  	Attention: Secretary
		  	Parker-Hannifin Corporation
		  	6035 Parkland Blvd.
		  	Cleveland, Ohio 44124-4141
		
	To the Participant:	  	address of residence

 Any such notice delivered in person shall be deemed to have been received on the date of delivery.

 9.11 Amendment, Modification, Termination. The Program may at any time be terminated, or at any time or from time to time be
amended or otherwise modified, prospectively, by the Board of Directors of the Company; provided, however, that no such termination, amendment or modification of the Program shall operate to: 
  

	 	(a)	reduce or terminate the benefit of a Participant participating in the Program at the time of any such termination, amendment, or modification; 

  

 27 

	 	(b)	terminate the participation of a Participant participating in the Program at the time of any such termination, amendment, or modification; 

  

	 	(c)	increase the eligibility requirements applicable to a Participant participating in the Program at the time of any such termination, amendment or modification;

  

	 	(d)	terminate the Program, or reduce or terminate any benefit, or terminate the participation or any rights or benefits, after the occurrence of a Corporate Change Vesting Event, with
respect to a Participant or Recipient who was a Participant or Recipient, or became a Participant or Recipient, at the time of the occurrence of such Corporate Change Vesting Event; or 

  

	 	(e)	permit an acceleration of time of payment of a Participant’s benefit under the Program, other than: 

  

	 	(1)	as necessary to comply with a certificate of divestiture, as defined in Section 1043(b)(2) of the Code; 

  

	 	(2)	as necessary to pay Federal Insurance Contribution (“FICA”) taxes and any resulting federal, state, local or foreign income taxes attributable to amounts deferred under
the Program, subject to the limitations of Section 1.409A-3(j)(4)(vi) of the Regulations; 

  

	 	(3)	in the event the arrangement fails to meet the requirements of Section 409A of the Code with respect to one or more Participants, and then only in such amount as is included in
income of such Participant(s) as a result of such failure; 

  

	 	(4)	due to a termination of the Program that meets the requirements of Section 1.409A-3(j)(4)(ix) of the Regulations; or 

  

	 	(5)	as otherwise may be permitted under Section 409A of the Code. 

 9.12 Applicable Law. Except to the extent preempted by ERISA or the Code, the laws of the State of Ohio shall govern the Program and any disputes arising thereunder. 
 9.13 Gender, Singular and Plural. All pronouns and variations thereof shall be deemed to refer to the masculine, feminine, or neuter, as the
identity of the person or persons may require. As the context may require, the singular may be read as the plural and the plural as the singular. 
 9.14 Headings. All headings are for convenience only and shall not be used in interpreting any text to which they relate. 
  

 28 

 9.15 Off-sets for Foreign Currency Benefits. To the extent that a Participant’s supplemental
retirement benefit under this Program is subject to reduction or off-set under the provisions of Section 3.03(a) through (i) or Section 3.04(a) through (d) for amounts that are to be paid over the Participant’s life
expectancy and which are denominated in a currency other than U.S. Dollars, then for purposes of determining the supplemental retirement benefit payable under this Program, such reduction or off-set amounts shall be converted to the U.S. Dollar
equivalent based on the Foreign Exchange Rate. For purposes of this Program, the Foreign Exchange Rate means the fixed exchange rate derived from the two-point average of the Bid/Asked spread of the market implied forward exchange rates as
calculated by Bloomberg’s FRD function, or its successor function on the same or comparable financial information system, determined on a weighted average basis for the period beginning at the date of Separation from Service of the Participant
and ending on a date estimated to be the Participant’s date of death based upon the Mortality Table. 
  

 29Amended and Restated 1993 Stock Incentive Program

 Exhibit 10(i) 
 PARKER-HANNIFIN CORPORATION 
 AMENDED & RESTATED 1993 STOCK INCENTIVE PROGRAM 
 Effective: April 22, 1993 
 Amended:
August 15, 1996 
 Amended: October 22, 1997 
 Amended: January 28, 2009 
  

	1.	Purpose. 

 The 1993 Stock Incentive Program
is intended to help maintain and develop strong management through ownership of shares of the Corporation by key employees of the Corporation and its Subsidiaries and for recognition of efforts and accomplishments which contribute materially to the
success of the Corporation’s business interests. 
  

	2.	Definitions. 

 In this Program, except where
the context otherwise indicates, the following definitions apply: 
  

	 	(a)	“Award” means a stock option, stock appreciation right (“SAR”), restricted stock, incentive share, dividend equivalent right (“DER”), or other award
under this Program. 

  

	 	(b)	“Board” means the Board of Directors of the Corporation. 

  

	 	(c)	“Change in Control” means the occurrence of one of the following events: 

  

	 	(i)	 any “person” (as such term is defined in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or
becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation representing 20% or more of the combined voting power of the Corporation’s then outstanding
securities eligible to vote for the election of the Board (the “Corporation’s Voting Securities”); provided, however, that the event described in this paragraph shall not be deemed to be a Change in Control by virtue of any of the
following situations: (A) an acquisition by the Corporation or any Subsidiary; (B) an acquisition by any employee benefit plan sponsored or maintained by the Corporation or any Subsidiary; (C) an acquisition by any underwriter
temporarily holding securities pursuant to an offering of such securities; (D) a Non-Control Transaction (as defined in paragraph (iii)); (E) as pertains to an individual Grantee, any acquisition by the Grantee or any group of persons
(within the meaning of Sections 13(d)(3) and 14(d)(2) of the Exchange Act) including the Grantee (or any entity in which the Grantee or a group of persons including the Grantee, directly or indirectly, holds a majority of the voting power of such
entity’s outstanding voting interests); or (F) the acquisition of Corporation Voting Securities from the Corporation, if a majority of the Board approves a 

  

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resolution providing expressly that the acquisition pursuant to this clause (F) does not constitute a Change in Control under this paragraph (i);

  

	 	(ii)	individuals who, at the beginning of any period of twenty-four (24) consecutive months, constitute the Board (the “Incumbent Board”) cease for any reason to
constitute at least a majority thereof; provided, that (A) any person becoming a director subsequent to the beginning of such twenty-four (24) month period, whose election, or nomination for election, by the Corporation’s shareholders
was approved by a vote of at least two-thirds of the directors comprising the Incumbent Board who are then on the Board (either by a specific vote or by approval of the proxy statement of the Corporation in which such person is named as a nominee
for director, without objection to such nomination) shall be, for purposes of this paragraph (ii), considered as though such person were a member of the Incumbent Board; provided, however, that no individual initially elected or nominated as a
director of the Corporation as a result of an actual or threatened election contest with respect to directors or any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed to
be a member of the Incumbent Board; 

  

	 	(iii)	the consummation of a merger, consolidation, share exchange or similar form of corporate reorganization of the Corporation or any Subsidiary that requires the approval of the
Corporation’s stockholders, whether for such transaction or the issuance of securities in connection with the transaction or otherwise (a “Business Combination”), unless (A) immediately following such Business Combination:
(1) more than 50% of the total voting power of the corporation resulting from such Business Combination (the “Surviving Corporation”) or, if applicable, the ultimate parent corporation which directly or indirectly has beneficial
ownership of 100% of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), is represented by Corporation Voting Securities that were outstanding immediately prior to the Business
Combination (or, if applicable, shares into which such Corporation Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power
of such Corporation Voting Securities among the holders thereof immediately prior to the Business Combination, (2) no person (other than any employee benefit plan sponsored or maintained by the Surviving Corporation or the Parent Corporation)
is or becomes the beneficial owner, directly or indirectly, of 20% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving
Corporation), and (3) at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), following the Business Combination, were members of the Incumbent
Board at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination (a “Non-Control Transaction”) or (B) the Business Combination is effected by means of the acquisition of
Corporation Voting Securities from the Corporation, and a majority of the Board approves a resolution providing expressly that such Business Combination does not constitute a Change in Control under this paragraph (iii); or 

 

 - 2 - 

	 	(iv)	the stockholders of the Corporation approve a plan of complete liquidation or dissolution of the Corporation or the sale or other disposition of all or substantially all of the
assets of the Corporation and its Subsidiaries. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires beneficial ownership of more than 20% of the Corporation Voting Securities as a result
of the acquisition of Corporation Voting Securities by the Corporation which, by reducing the number of Corporation Voting Securities outstanding, increases the percentage of shares beneficially owned by such person; provided, that if a Change in
Control would occur as a result of such an acquisition by the Corporation (if not for the operation of this sentence), and after the Corporation’s acquisition such person becomes the beneficial owner of additional Corporation Voting Securities
that increases the percentage of outstanding Corporation Voting Securities beneficially owned by such person, a Change in Control shall then occur. 

 Notwithstanding anything in this Program to the contrary, if a Grantee’s employment is terminated prior to a Change in Control, and the Grantee reasonably demonstrates that such termination was at the request of
a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control, (a “Third Party”), then for all purposes of this Program, the date immediately prior to the date of such termination of
employment shall be deemed to be the date of a Change in Control for such Grantee. 
  

	 	(d)	“Code” means the Internal Revenue Code, as in effect from time to time. 

  

	 	(e)	“Compensation and Management Development Committee” or “Committee” means the committee of the Board so designated. The Committee will be constituted in a manner
that satisfies all applicable legal requirements, including satisfying the disinterested administration standard set forth in Rule 16b-3. 

  

	 	(f)	“Corporation” means Parker-Hannifin Corporation, an Ohio corporation, and its Subsidiaries. 

  

	 	(g)	“Designated beneficiary” means the person designated by the grantee of an award hereunder to be entitled, on the death of the grantee, to any remaining rights arising out
of such award. Such designation must be made in writing and in accordance with such regulations as the Committee may establish. 

  

	 	(h)	“Detrimental activity” means activity that is determined in individual cases, by the Committee or its express delegate, to be detrimental to the interests of the
Corporation or a Subsidiary, including without limitation (i) the rendering of services for an organization, or engaging in a business, that is, in the judgment of the Committee or its express delegate, in competition with the Corporation;
(ii) the disclosure to any one outside of the Corporation, or the use for any purpose other than the Corporation’s business, of confidential information or material related to the Corporation, whether acquired by the employee during or
after employment with the Corporation; or (iii) fraud, embezzlement, theft-in-office or other illegal activity. 

  

 - 3 - 

	 	(i)	“Dividend equivalent right,” herein sometimes called a “DER,” means the right of the holder thereof to receive, pursuant to the terms of the DER, credits based
on the cash dividends that would be paid on the shares specified in the DER if such shares were held by the grantee, as more particularly set forth in Section 12(a) below. 

  

	 	(j)	“Eligible employee” means an employee who is an officer, or in a managerial, executive, technical, professional, or other key position as determined by the Committee.

  

	 	(k)	“Employee” means a regular employee of the Corporation or one of its Subsidiaries. 

  

	 	(l)	“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 

  

	 	(m)	“Fair market value” in relation to a share as of any specific time shall mean, except as provided in Section 8 and 9, such value as reported for New York Stock
Exchange—Composite Transactions on such date, or if no shares are traded on that date, the next preceding date on which trading occurred. 

  

	 	(n)	“Grantee” means a recipient of an award under this Program. 

  

	 	(o)	“Incentive share” means an award of shares granted pursuant to Section 11 below. 

  

	 	(p)	“Incentive stock option,” herein sometimes called an “ISO,” means a stock option meeting the requirements of Section 422 of the Code or any successor
provision. 

  

	 	(q)	“Insider” means a person subject to the reporting requirements of Section 16(a) of the Exchange Act with respect to equity securities of the Corporation.

  

	 	(r)	“Restricted stock” means any share issued with the restriction that the holder may not sell, transfer, pledge, or assign such share and such other restrictions (which may
include, but are not limited to, restrictions on the right to vote or receive dividends) which may expire separately or in combination, at one time or in installments, all as specified by the grant. 

  

	 	(s)	“Rule 16b-3” means Rule 16b-3 (or any successor thereto) under the Exchange Act that exempts from Section 16(b) of the Exchange Act transactions under employee
benefit plans, as in effect from time to time with respect to this Program. 

  

	 	(t)	“Share” means a common share, par value $.50, of the Corporation issued and reacquired by the Corporation or previously authorized but unissued. 

 

	 	(u)	“Shareholder-approved plan” means any of the plans constituting parts of any of the incentive programs previously or hereafter approved by shareholders of the Corporation.

  

 - 4 - 

	 	(v)	“Stock appreciation right,” herein sometimes called an “SAR,” means the right of the holder thereof to receive, pursuant to the terms of the SAR, a number of
shares or cash or a combination of shares and cash, based on the increase in the value of the number of shares specified in the SAR, as more particularly set forth in Section 9 below. 

  

	 	(w)	“Subsidiary” means any corporation, partnership, or other entity in which the Corporation, directly or indirectly, owns a 50 percent or greater equity interest.

  

	 	(x)	“Terminate” means cease to be an employee, except by death, but a change of employment from the Corporation or one Subsidiary to another Subsidiary or to the Corporation
shall not be considered a termination. 

  

	 	(y)	“Terminate normally” for an employee participating in this Program means terminate: 

  

	 	(i)	as a result of retirement under the applicable retirement plan or policy of the Corporation or a Subsidiary, 

  

	 	(ii)	as a result of that employee becoming eligible for disability income under the Corporation’s long-term disability program, or 

  

	 	(iii)	with written approval of the Committee given in the context of recognition that all or a specified portion of the outstanding awards to that employee will not expire or be forfeited
or annulled because of such termination and, in each such case, without being terminated for cause. 

  

	 	(z)	“Year” means fiscal year. 

  

	3.	Eligibility 

 The selection of eligible
employees to receive awards will be within the discretion of the Committee. More than one award may be granted to the same eligible employee. Members of the Committee are not eligible for the grant of awards. 
  

	4.	Administration 

  

	 	(a)	The Committee shall administer this Program. The Committee will, subject to the terms of the Program, have the authority to (i) select the eligible employees who will receive
awards; (ii) grant awards; (iii) determine the number and types of awards to be granted to employees; (iv) determine the terms, conditions, vesting periods and restrictions applicable to awards; (v) adopt, alter and repeal
administrative rules and practices governing this Program; (vi) interpret the terms and provisions of this Program and any awards granted under this Program; (vii) prescribe the forms of any notices of awards or other instruments relating
to awards; and (viii) otherwise supervise the administration of this Program. All decisions by the Committee will be made with the approval of not less than a majority of its members. 

  

 - 5 - 

	 	(b)	All determinations and interpretations pursuant to the provisions of this Program shall be binding and conclusive upon the individual employees involved and all persons claiming
under them. 

  

	 	(c)	With respect to Insiders, transactions under this Program are intended to comply with all applicable conditions of Rule 16b-3. To the extent any provision of this Program or any
action by the Committee under this Program fails to so comply, such provision or action shall, without further action by any person, be deemed to be automatically amended to the extent necessary to effect compliance with Rule 16b-3, provided that if
such provision or action cannot be amended to effect such compliance, such provision or action shall be deemed null and void, to the extent permitted by law and deemed advisable by the appropriate authority. Each award to an Insider under this
Program shall be deemed issued subject to the foregoing qualification. 

  

	 	(d)	An award under this Program is not transferable except, as provided in the award, by will, pursuant to the laws of descent and distribution, or pursuant to a qualified domestic
relations order, and is not subject, in whole or in part, to attachment, execution, or levy of any kind. The designation by a grantee of a designated beneficiary shall not constitute a transfer. Notwithstanding the foregoing, an employee may
transfer any nonqualified stock option granted under this Plan to members of his immediate family (defined as his children, grandchildren and spouse) or to one or more trusts for the benefit of such family members or partnerships in which such
family members are the only partners if the instrument evidencing such stock option expressly so provides (or is amended to so provide) and the employee does not receive any consideration for the transfer; provided that any such transferred stock
option shall continue to be subject to the same terms and conditions that are applicable to such stock option immediately prior to its transfer (except that such transferred stock option shall not be further transferable by the transferee inter
vivos). 

  

	 	(e)	Any rights with respect to an award granted under this Program existing after the grantee dies are exercisable by the grantee’s designated beneficiary or, if there is no such
designated beneficiary who may, and does, lawfully do so, by the grantee’s personal representative. 

  

	 	(f)	Except as otherwise provided herein, a particular form of award may be granted to an eligible employee either alone or in addition to other awards hereunder. The provisions of
particular forms of award need not be the same with respect to each recipient. 

  

	 	(g)	The Committee may delegate any of its authority to any other person or persons that it deems appropriate, provided the delegation does not cause the Program or any awards granted
under this Program to fail to qualify for the exemption provided by Rule 16b-3. 

  

	 	(h)	This Program and all action taken under it shall be governed by the laws of the State of Ohio without giving effect to the principles of conflict of laws thereof.

  

 - 6 - 

	5.	Term 

 This Program will continue in effect
until terminated by the Board. 
  

	6.	Awards That May Be Granted 

 The aggregate
number of shares that may be subject to awards granted under this Program in any fiscal year, subject to adjustment as provided in Section 7 below, will be equal to the sum of (a) one and one-half percent (1.5%) of the number of
shares outstanding on the last day of the previous fiscal year; plus (b) the number of shares that were available for the grant of awards in previous fiscal years; provided, that, in no event will the number of shares available for the grant of
awards in any fiscal year exceed two and one-half percent (2.5%) of the shares outstanding on the last day of the previous fiscal year. The aggregate number of shares that may be issued upon exercise of ISOs is 1,000,000. When an unexercised
award lapses, expires, terminates or is forfeited, the related shares may be available for distribution in connection with future awards but will continue to be subject to the 2.5% maximum described above. The assumption of awards granted by an
organization acquired by the Corporation, or the grant of awards under this Program in substitution for any such awards, will not reduce the number of shares available in any fiscal year for the grant of awards under this Program. 
  

	7.	Adjustments 

 In the event that the Committee
shall determine that any stock dividend, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, exchange of shares, warrants or rights offering to purchase common stock of the
Corporation at a price substantially below fair market value, or other similar corporate event affects the common stock of the Corporation such that an adjustment is required in order to preserve the benefits or potential benefits intended to be
made available under this Program, then the Committee shall, in its sole discretion, and in such manner as the Committee may deem equitable, adjust any or all of (a) the number and kind of shares which thereafter may be the subject of Awards
under this Program, (b) the number and kind of shares subject to outstanding Awards, and (c) the exercise price with respect to any of the foregoing. 
  

	8.	Stock Options 

 One or more stock options can
be granted to any eligible employee. No employee may be granted stock options for more than 500,000 (increased to 750,000 as of 10/1/07 stock split pursuant to adjustment provided in Section 7) shares of common stock in any three-year period.
Each stock option so granted shall be subject to such terms and conditions as the Committee shall impose. The exercise price per share shall be specified by the grant, but shall in no instance be less than 100 percent of Fair Market Value at the
time of grant. Payment of the exercise price shall be made in cash, shares, or other consideration, or any combination thereof, in accordance with the terms of this Program and any applicable regulations of the Committee in effect at the time and
valued at Fair Market Value on the exercise date of the stock option. Fair Market Value on the exercise date shall be determined pursuant to administrative rules established by the 

  

 - 7 - 

 
Committee from time to time in accordance with applicable law. Stock options granted hereunder may be designated as ISOs (except to the extent otherwise
specified in this Section 8) or nonqualified stock options. To the extent that the aggregate fair market value of shares with respect to which stock options designated as ISOs are exercisable for the first time by any grantee during any year
(under all plans of the Corporation and any Subsidiary thereof) exceeds $100,000, such stock options shall be treated as not being ISOs. ISOs must comply with requirements of Section 422 of the Code. 
  

	9.	Stock Appreciation Rights 

  

	 	(a)	An SAR may be granted to an eligible employee as a separate award under this Plan. Any SAR granted under this Plan shall be subject to such terms and conditions as the Committee may
impose, which shall include provisions that (i) such SAR shall entitle the holder upon exercise in accordance with such SAR and the regulations of the Committee, to receive from the Corporation that number of shares having an aggregate value
equal to the excess of the Fair Market Value, on the exercise date, of one share over the exercise price per share specified by the grant of such SAR (which shall in no instance be less than 100 percent of fair market value at the time of grant)
times the number of shares specified in such SAR, or portion thereof, which is so exercised. Fair Market Value on the exercise date shall be determined pursuant to administrative rules established by the Committee from time to time in accordance
with applicable law. 

  

	 	(b)	Any stock option granted under this Program may include an SAR, either at the time of grant or by amendment. An SAR included in a stock option shall be subject to such terms and
conditions as the Committee shall impose, which shall include provisions that: 

  

	 	(i)	such SAR shall be exercisable to the extent, and only to the extent, the stock option is exercisable; and 

  

	 	(ii)	such SAR shall entitle the optionee to surrender to the Corporation unexercised the stock option in which the SAR is included, or any portion thereof, and to receive from the
Corporation in exchange therefor that number of shares having an aggregate value equal to the excess of the fair market value, at the time of exercise of such SAR, of one share over the exercise price specified in such stock option times the number
of shares specified in such stock option, or portion thereof, which is so surrendered. 

  

	 	(c)	In lieu of the right to receive all or any specified portion of such shares, an SAR may entitle the holder thereof to receive the cash equivalent thereof as specified by the grant.

  

	 	(d)	An SAR may provide that such SAR shall be deemed to have been exercised at the close of business on the business day preceding the expiration of such SAR or the related stock
option, if any, if at such time such SAR has positive value and would have expired. 

  

 - 8 - 

	10.	Restricted Stock 

  

	 	(a)	An award of restricted stock may be granted hereunder to an eligible employee, for no cash consideration, for such minimum consideration as may be required by applicable law, or for
such other consideration as may be specified by the grant. The terms and conditions of restricted stock, including the vesting period, shall be specified by the Committee, at its sole discretion, in the grant. 

  

	 	(b)	Any restricted stock issued hereunder may be evidenced in such manner as the Committee in its sole discretion shall deem appropriate, including, without limitation, book-entry
registration or issuance of a stock certificate or certificates. In the event any stock certificate is issued in respect of shares of restricted stock awarded hereunder, such certificate shall bear an appropriate legend with respect to the
restrictions applicable to such award. 

  

	11.	Incentive Shares 

  

	 	(a)	An incentive award may be granted hereunder in the form of shares. Incentive shares may be granted to an eligible employee for no cash consideration, for such minimum consideration
as may be required by applicable law, or for such other consideration as may be specified by the grant. The terms and conditions of incentive shares shall be specified by the grant. 

  

	 	(b)	Incentive shares may be paid to the grantee in a single installment or in installments and may be paid at the time of grant or deferred to a later date or dates. Each grant shall
specify the time and method of payment as determined by the Committee. 

  

	12.	Dividend Equivalent Rights; Interest Equivalents 

  

	 	(a)	A DER may be granted hereunder to an eligible employee, as a component of another award or as a separate award. The terms and conditions of DERs shall be specified by the grant.
Dividend equivalents credited to the holder of a DER may be paid currently or may be deemed to be reinvested in additional shares (which may thereafter accrue additional dividend equivalents). Any such reinvestment shall be at fair market value at
the time thereof. DERs may be settled in cash or shares or a combination thereof, in a single installment or installments. A DER granted as a component of another award may provide that such DER shall be settled upon exercise, settlement, or payment
of, or lapse of restrictions on, such other award, and that such DER shall expire or be forfeited or annulled under the same conditions as such other award. A DER granted as a component of another award may also contain terms and conditions
different from such other award. 

  

	 	(b)	Any award under this Program that is settled in whole or in part in cash on a deferred basis may provide by the grant for interest equivalents to be credited with respect to such
cash payment. Interest equivalents may be compounded and shall be paid upon such terms and conditions as may be specified by the grant. 

  

 - 9 - 

	13.	Deferral of Payment 

 With the approval of
the Committee, the delivery of shares, cash or any combination thereof subject to an award may be deferred, either in the form of installments or a single future delivery. The Committee may also permit selected grantees to defer payment of some or
all of their awards, as well as other compensation, in accordance with procedures established by the Committee to assure that recognition of taxable income is deferred under the Code. 
  

	14.	Termination of Employment 

 If the employment
of a grantee terminates for any reason, all unexercised, deferred and unpaid awards may be exercisable and paid only in accordance with rules established by the Committee. These rules may provide, as the Committee deems appropriate, for the
expiration, continuation, or acceleration of the vesting of all or part of the awards. 
  

	15.	Detrimental Activity 

 The Committee may
cancel any unexpired, unpaid or deferred awards at any time if the grantee is not in compliance with all applicable provisions of this Program or with the terms of any notice of award or if the grantee engages in detrimental activity. The Committee
may, in its discretion and as a condition to the exercise of an award, require a grantee to acknowledge that he or she is in compliance with all applicable provisions of the Program and of any notice of award and has not engaged in any detrimental
activity. 
  

	16.	Change in Control 

 The Committee may in its
discretion and upon such terms as it deems appropriate, accelerate the date on which any outstanding option or SAR becomes exercisable or waive the restrictions or other terms and conditions on the vesting of any restricted or incentive shares in
the event of a proposed change in control of the Corporation. In addition to the foregoing, the Corporation may, with the approval of the Committee, purchase stock options previously granted to any person who is at the time of any such transaction
an employee of the Corporation for a price equal to the difference between the consideration per share payable pursuant to the terms of the transaction and the option price. 
  

	17.	Substitute Awards 

 The Committee may grant
awards in substitution for, or upon the assumption of, awards granted by another corporation that is merged into, consolidated with, or all or a substantial part of the assets or stock of which is acquired by the Corporation or a Subsidiary. The
terms and provisions of any awards granted under this Section 16 may vary from the terms and provisions otherwise specified in this Program and may, instead, correspond to the terms and provisions of the awards granted by the other corporation.

  

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	18.	Amendments to This Program; Amendments of Outstanding Awards  

  

	 	(a)	The Board can from time to time amend or terminate this Program, or any provision hereof. Approval of the shareholders of the Corporation will be required only to the extent
necessary to comply with Rule 16b-3 or any other applicable law, regulation, or listing requirement, or to qualify for an exemption or characterization that is deemed desirable by the Board. 

  

	 	(b)	The Committee may, in its discretion, amend the terms of any award, prospectively or retroactively, but no such amendment may impair the rights of any grantee without his or her
consent. The Committee may, in whole or in part, waive any restrictions or conditions applicable to, or accelerate the vesting of, any award. 

  

	19.	Withholding Taxes 

 The Corporation shall
have the right to deduct from any cash payment made under this Program any federal, state or local income or other taxes required by law to be withheld with respect to such payment. It shall be a condition to the obligation of the Corporation to
deliver shares or securities of the Corporation upon exercise of a stock option or SAR, upon settlement of a DER, upon delivery of restricted stock or incentive shares, or upon exercise, settlement, or payment of any other award under this Program,
that the grantee of such award pay to the Corporation such amount as may be requested by the Corporation for the purpose of satisfying any liability for such withholding taxes. Any award under this Program may provide by the grant that the grantee
of such award may elect, in accordance with any applicable regulations of the granting authority, to pay a portion or all of the amount of such minimum required or additional permitted withholding taxes in shares. The grantee shall authorize the
Corporation to withhold, or shall agree to surrender back to the Corporation, on or about the date such withholding tax liability is determinable, shares previously owned by such grantee or a portion of the shares that were or otherwise would be
distributed to such grantee pursuant to such award having a fair market value equal to the amount of such required or permitted withholding taxes to be paid in shares. 
  

	20.	Grants of Awards to Employees Who are Foreign Nationals 

 Without amending this Program, but subject to the limitations specified in Section 18 above, the Committee can grant, amend, administer, annul, or terminate awards to eligible employees who are foreign nationals
on such terms and conditions different from those specified in this Program as may in the judgment of the granting authority be necessary or desirable to foster and promote achievement of the purposes of this Program. 
  

	21.	Rights of Employees 

 Nothing in this Program
will confer upon any grantee the right to continued employment by the Corporation or limit in any way the Corporation’s right to terminate any grantee’s employment at will. 
  

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	22.	Effective Date 

 This Program was ratified by the Board and
became effective on April 22, 1993, subject to approval of the shareholders on or before October 28, 1993. Awards may be granted prior to approval of the Program by shareholders, but no such award may be exercised until after the Program
has been approved by shareholders. If the shareholders do not approve the Program on or before October 28, 1993, all awards granted under the Program shall terminate. This Program was amended and restated on August 15,
1996, October 22, 1997 and January 28, 2009. 
  

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