Document:

EX-10.3

 Exhibit 10.3 

 
 ACTUANT CORPORATION 

DEFERRED COMPENSATION PLAN 
 (Conformed through the Third Amendment) 
  
  

McDermott Will & Emery LLP 
 Chicago 

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	 SECTION 1
	  	 	2	  
	 Definitions
	  	 	2	  
		
	 SECTION 2
	  	 	8	  
	 Participation
	  	 	8	  
	 2.1    Participation
	  	 	8	  
	 2.2    Suspension of Participation Due to Hardship
	  	 	8	  
	 2.3    Termination of Participation
	  	 	8	  
		
	 SECTION 3
	  	 	9	  
	 Contributions
	  	 	9	  
	 3.1    Compensation Deferrals
	  	 	9	  
	 3.2    Non-Qualified Core Contributions
	  	 	11	  
		
	 SECTION 4
	  	 	12	  
	 Notional Investment of Contributions
	  	 	12	  
	 4.1    Investment Options
	  	 	12	  
	 4.2    Investment Option Elections
	  	 	13	  
	 4.3    One-Time Election to Change Investment Option
	  	 	14	  
		
	 SECTION 5
	  	 	15	  
	 Accounting
	  	 	15	  
	 5.1    Participants’ Accounts
	  	 	15	  
	 5.2    Participants Remain Unsecured Creditors
	  	 	15	  
	 5.3    Accounting Methods
	  	 	15	  
	 5.4    Reports
	  	 	16	  
		
	 SECTION 6
	  	 	17	  
	 Distributions
	  	 	17	  
	 6.1    General Timing of Distributions
	  	 	17	  
	 6.2    Form of Payment
	  	 	18	  
	 6.3    Short-Term Payout
	  	 	21	  
	 6.4    Deferral Elections for Short-Term Payouts
	  	 	22	  
	 6.5    Change of Control
	  	 	22	  
	 6.6    Special Rule for Death or Disability
	  	 	23	  
	 6.7    Beneficiary Designations
	  	 	23	  
	 6.8    Financial Hardship
	  	 	23	  
	 6.9    Payments to Incompetents
	  	 	23	  
	 6.10  Undistributable Accounts
	  	 	23	  
	 6.11  Committee Discretion
	  	 	24	  
	 6.12  Withholding; Reporting
	  	 	24	  

  
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	 	  	PAGE	 
		
	 SECTION 7
	  	 	25	  
	 Participant’s Interest in Account
	  	 	25	  
		
	 SECTION 8
	  	 	26	  
	 Administration of the Plan
	  	 	26	  
	 8.1      Plan Administrator
	  	 	26	  
	 8.2      Committee
	  	 	26	  
	 8.3      Actions by Committee
	  	 	26	  
	 8.4      Powers of Committee
	  	 	26	  
	 8.5      Decisions of Committee
	  	 	27	  
	 8.6      Administrative Expenses
	  	 	28	  
	 8.7      Eligibility to Participate
	  	 	28	  
	 8.8      Indemnification
	  	 	28	  
		
	 SECTION 9
	  	 	29	  
	 Modification or Termination of Plan
	  	 	29	  
	 9.1      Employers’ Obligations Limited
	  	 	29	  
	 9.2      Right to Amend or Terminate
	  	 	29	  
	 9.3      Effect of Termination
	  	 	29	  
		
	 SECTION 10
	  	 	31	  
	 General Provisions
	  	 	31	  
	 10.1    Inalienability
	  	 	31	  
	 10.2    Successors, Acquisitions, Mergers, Consolidations
	  	 	31	  
	 10.3    Rights and Duties
	  	 	31	  
	 10.4    No Right to Employer Assets
	  	 	31	  
	 10.5    No Enlargement of Employment Rights
	  	 	31	  
	 10.6    Apportionment of Costs and Duties
	  	 	32	  
	 10.7    Compensation Deferrals Not Counted Under Other Employee Benefit Plans
	  	 	32	  
	 10.8    Applicable Law
	  	 	32	  
	 10.9    Responsibility for Legal Effect
	  	 	32	  
	 10.10  Severability
	  	 	32	  
	 10.11  Captions
	  	 	32	  

  
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 Exhibit 10.3 
 ACTUANT CORPORATION 
 DEFERRED COMPENSATION PLAN

 (As Amended and Restated Effective September 1, 2004) 

Actuant Corporation, a Wisconsin corporation, maintains the Actuant Corporation Deferred Compensation Plan (the “Plan”) for the
benefit of a select group of management and highly compensated employees of the Company and its participating Affiliates. The Plan is intended to provide such employees with certain deferred compensation benefits and certain benefits that cannot be
provided under the Actuant Corporation 401(k) Plan due to the limitations on benefits under the provisions of Section 415 or 401(a)(17) of the Code or to the extent certain items of compensation are not considered in determining benefits under
the Actuant Corporation 401(k) Plan, or cannot be deferred into the Actuant Corporation 401(k) Plan. 
 The Plan was originally
established effective as of December 1, 2002. The Plan was most recently restated effective September 1, 2004, and has been amended from time to time thereafter. 
 The Plan is designed to comply with the American Jobs Creation Act of 2004, as amended (the “Jobs Act”), and Section 409A of the Code. Accordingly, the Plan has been amended to conform to
the requirements of the Jobs Act and Section 409A of the Code, and final Treasury regulations issued thereunder, with respect to Non-Grandfathered Amounts under the Plan. Prior to January 1, 2008, it is intended that the Plan be
interpreted according to a good faith interpretation of the Jobs Act and Section 409A of the Code, and consistent with published guidance thereunder, including, without limitation, IRS Notice 2005-1 and the proposed and final Treasury
regulations under Section 409A of the Code. Treatment of amounts deferred under the Plan pursuant to and in accordance with any transition rules provided under all IRS published guidance and other applicable authorities in connection with the
Jobs Act or Section 409A of the Code, including, without limitation, the adoption of the transition rules prescribed under Q&As 20 and 21 of IRS Notice 2005-1, shall be expressly authorized hereunder and shall be administered in accordance
with procedures established by the Administrator or the Committee, as the case may be. In the event of any inconsistency between the terms of the Plan and the Jobs Act or Section 409A of the Code with respect to Non-Grandfathered Amounts, the
terms of the Jobs Act and Section 409A of the Code shall prevail and govern. 

  
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 SECTION 1 
 Definitions 
 The following words and phrases shall have the following
meanings unless a different meaning is plainly required by the context: 
 1.1    
“Administrator” shall mean the Company, as provided in Section 8.1. 

1.2    “Affiliate” shall mean a corporation, trade or business which is, together with any Employer,
a member of a controlled group of corporations or an affiliated service group or under common control (within the meaning of Section 414(b), (c) or (m) of the Code), but only for the period during which such other entity is so
affiliated with any Employer. 
 1.3    “Beneficiary” shall mean the person or persons
entitled to receive benefits under the Plan upon the death of a Participant, as provided in Section 6.7. 

1.4    “Board of Directors” shall mean the Board of Directors of the Company, as constituted from
time to time. 
 1.5    “Change of Control” shall mean the date on which the first of the
following events occurs: 
  

	 	(a)	any one person or more than one person acting as a Group (within the meaning assigned to such term in Treasury Regulation §§1.409A-3(i)(5)(v)(B) and (vi)(D))
(excluding Affiliates) acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) all or substantially all of the business or assets from the Company (but in no event shall a
Change of Control be deemed to have occurred where such acquired assets have a total Gross Fair Market Value (as defined below) of less than 40% of the total Gross Fair Market Value of all of the assets of the Company immediately before such
acquisition or acquisitions); 

  

	 	(b)	any one person or more than one person acting as a Group (excluding Affiliates) acquires more than 50% of the total fair market value or total voting power of stock of
the Company, provided that if such person or persons are considered either to own more than 50% of the total fair market value or total voting power of the stock of the Company or to possess Effective Control (as defined below) of the Company, the
acquisition of additional stock or control, respectively, of the Company by the same person or persons is not considered to cause a Change of Control of the Company under this subsection (b); or 

  
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	 	(c)	(i) any one person, or (ii) a majority of the Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed
by a majority of the members of the Board of Directors as constituted before the appointment or election. ‘Effective Control’ for purposes of this Plan means that any one person or more or more than one person acting as a Group acquires
(or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Company possessing 30% or more of the total voting power of the stock of the Company, provided that if
such person or persons are considered either to own more than 50% of the total fair market value or total voting power of the stock of the Company or to possess Effective Control of the Company, the acquisition of additional stock or control,
respectively, of the Company by the same person or persons is not considered to cause a change in the Effective Control of the Company under this subsection (c). 

 The term ‘Gross Fair Market Value’ shall mean the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with
such assets. For purposes of determining stock ownership, the attribution rules described in Section 318(a) of the Code shall apply and stock underlying a vested option is considered owned by the individual who holds the vested option, provided
that if a vested option is exercisable for stock that is not substantially vested (as defined by Treasury Regulation §§83-3(b) and (j)), the stock underlying the option shall not be treated as owned by the individual who holds the option.
If payments from the Plan are made on account of a Change of Control event described in subsection (a) or (b), above, that occur because an Employer purchases its stock held by the Participant or because the Employer or a third party purchases
a stock right held by the Employer, or that are calculated by reference to the value of the Employer’s stock, such payments shall be completed not later than 5 years after the Change of Control event. A Change of Control shall be subject to
such further rules, conditions, limitations, restrictions, or clarifications prescribed under Section 409A of the Code, including, without limitation, Treasury Regulation §§1.409A-3(i)(5)(v), (vi) and (vii). 

1.6    “Code” shall mean the Internal Revenue Code of 1986, as amended. Reference to a specific
section of the Code shall include such section, any valid regulation promulgated thereunder, and any comparable provision of any future legislation amending, supplementing or superseding such section. 

1.7    “Committee” shall mean the Company’s Compensation Committee, as it may be constituted
from time to time. The members of the Compensation Committee are appointed by, and serve at the pleasure of, the Board of Directors. 
 1.8    “Company” shall mean Actuant Corporation, a Wisconsin corporation. 

  
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 1.9    “Compensation” shall mean the base salary of a
Participant and any CMM bonus paid to him or her under the Company’s CMM bonus plan for a given Plan Year. Effective January 1, 2011, Compensation shall also include eligible (as determined under Subsection 3.1(d) herein) Restricted Stock
Units (RSUs) granted to any Eligible Employee in accordance with the Actuant Corporation 2009 Omnibus Incentive Plan or any other similar plan or program granting RSUs approved by the Company for deferral into this Plan. 

1.10  “Compensation Deferrals” shall mean the amounts credited to Participants’ Accounts under the Plan
pursuant to their deferral elections made in accordance with Section 3.1. 
 1.11  “Disability”
or “Disabled” shall mean the mental or physical inability of a Participant to perform the regularly assigned duties of his or her employment, provided that such inability (a) has continued or is expected to continue for a
period of at least 12 months and (b) is evidenced by the certificate of a physician satisfactory to the Committee stating that such inability exists and is likely to be permanent. The meaning of Disability or Disabled shall be subject to such
further rules, conditions, limitations, restrictions, or clarifications as prescribed under Section 409A of the Code and Treasury Regulations and other guidance issued thereunder. 

1.12  “Eligible Compensation” for a Plan Year shall mean an Eligible Employee’s “Eligible
Compensation” as defined in the 401(k) Plan for the fiscal year of the Company ending in the preceding Plan Year, except that (a) the limitation under Section 401(a)(17) of the Code shall not apply, and (b) the Eligible
Employee’s elective deferrals made pursuant to any non-qualified deferred compensation plan maintained by an Employer, including this Plan, shall be included. 
 1.13  “Eligible Employee” shall mean the following: 
  

	 	(a)	with respect to eligibility to receive Non-Qualified Core Contributions described in Section 3.2, an “Eligible Employee” shall be any employee whose
Eligible Compensation exceeds the limitation under Section 401(a)(17) of the Code in any given fiscal year of the Company (as adjusted by the Internal Revenue Service for changes in the cost of living from time to time); and

  

	 	(b)	 with respect to eligibility to make Compensation Deferrals in accordance with Section 3.1, the Committee shall have discretion to determine
whether an Eligible Employee may participate in the Plan by electing to make Compensation Deferrals. For these purposes an Eligible Employee shall include any employee whose Compensation, as defined in Subsection 1.9, annualized as of the date of
determination, exceeds the limitation under Section 414(q)(1)(b) of the Code (as adjusted by the Internal Revenue Service for changes in the cost of living from time to time) that is applicable

  
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on the date of such determination. The Committee may make such determination by individual or employment classification prior to the beginning of each Plan Year, or, in the case of newly hired
employees, upon such employee’s date of hire. Notwithstanding the foregoing, if an employee was an Eligible Employee in a prior Plan Year and made Compensation Deferrals in the prior Plan Year, such Eligible Employee shall continue to be deemed
to be an Eligible Employee in the subsequent Plan Year, regardless of the amount of Eligible Compensation earned by such employee in such subsequent Plan Year. 

 1.14  “Employers” shall mean the Company and each of its Affiliates who adopts the Plan with the consent of the Company. With respect to an individual Participant, Employer
shall mean the Company or its Affiliate that directly employs such Participant. To the extent (and only to the extent) required under Section 409A of the Code with respect to a Participant’s Non-Grandfathered Amounts under the Plan,
including, without limitation, for purposes of Sections 1.5, 1.26(b), 3.1, 3.2 (excluding the first paragraph therein), 6.1(b), 6.2(c), and 9.3 the “Employer” shall mean the person for whom the Participant performs services and with
respect to whom the legally binding right to payments under the Plan arises, and all persons with whom such person would be considered a single employer under Section 414(b) or (c) of the Code. 

1.15  “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. Reference to a
specific section of ERISA shall include such section, any valid regulation promulgated thereunder, and any comparable provision of any future legislation amending, supplementing or superseding such section. 

1.16  “Financial Hardship” shall mean a severe financial hardship to the Participant, which has been properly
demonstrated to and approved by the Committee or its delegate in its sole discretion, resulting from: 
  

	 	(a)	an illness or accident of the Participant, Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in
Section 152 of the Code, without regard to Sections 152(b)(1), (b)(2), and (d)(1)(B) of the Code); 

  

	 	(b)	the loss of the Participant’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance); or

  

	 	(c)	other similar extraordinary circumstances arising as a result of events beyond the control of the Participant, including, without limitation, (i) the imminent
foreclosure of or eviction from the Participant’s primary residence, (ii) the payment of funeral expenses of the Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in
Section 152 of the Code, without regard to Sections 152(b)(1), (b)(2), and (d)(1)(B) of the Code); 

  
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 which would, if no cessation of deferrals were made in accordance with Section 2.2, result in severe
financial burden to the Participant. Also, a Financial Hardship does not exist to the extent that the hardship may be relieved by (a) cessation of such Participant’s deferrals of the bonus portion of his Compensation pursuant to
Section 2.2, (b) reimbursement or compensation by insurance or otherwise, or (c) liquidation of the Participant’s other assets (to the extent such liquidation would not itself cause severe financial hardship), but disregarding
any additional compensation that due to the Financial Hardship is available under another nonqualified deferred compensation plan but has not actually been paid, or that is available due to the Financial Hardship under another plan that would
provide for deferred compensation (within the meaning of Section 409A of the Code) except due to the application of the effective date provisions under Treasury Regulation §1.409A-(6). 

1.17  “401(k) Plan” shall mean the Actuant Corporation 401(k) Plan, as amended from time to time. 

1.18  “Grandfathered Amounts” shall mean the portion of the Participant’s Account balance under the Plan
as of December 31, 2004, the right to which was earned and vested (within the meaning of Treasury Regulation §1.409A-6(a)(2)) as of December 31, 2004, plus the right to future contributions to the Account the right to which was earned
and vested (within the meaning of Treasury Regulation. §1.409A-6(a)(2)) as of December 31, 2004, to the extent such contributions are actually made, each determined by reference to the terms of the Plan in effect as of October 3,
2004, but only to the extent such Plan terms have not been materially modified (within the meaning of Treasury Regulation §1.409A-6(a)(4)) after October 3, 2004. Grandfathered Amounts shall include any earnings (within the meaning of
Treasury Regulation. §1.409A-1(o)) attributable thereto. 
 1.19  “Investment Options” shall
mean the funds or other investment vehicles designated pursuant to Section 4.1. 

1.20  “Non-Grandfathered Amounts” shall mean the Participant’s Account balance under the Plan less any
portion of the Participant’s Account balance under the Plan constituting Grandfathered Amounts. 

1.21  “Non-Qualified Core Contributions” shall mean the contributions made by Employers pursuant to
Section 3.2. 
 1.22  “Participant” shall mean an Eligible Employee who (a) has become a
Participant in the Plan pursuant to Section 2.1 and (b) has not ceased to be a Participant pursuant to Section 2.3. 

  
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 1.23  “Participant’s Account” or “Account”
shall mean as to any Participant the separate account maintained on the records of the Employers in order to reflect his or her interest under the Plan. Such Account shall include any amounts transferred from the Applied Power Inc. Executive
Deferred Compensation Plan. 
 1.24  “Plan” shall mean the Actuant Corporation Deferred Compensation
Plan, as set forth in this instrument and as hereafter amended from time to time, and, to the extent (and only to the extent) required under Section 409A of the Code with respect to a Participant’s Non-Grandfathered Amounts under the Plan,
any other plan with which the Plan is required to be aggregated under Section 409A of the Code. This Plan is intended to constitute an account balance plan, as defined in Treasury Regulation §1.409A-1(c)(2)(i)(A). 

1.25  “Plan Year” shall mean each 12-month period beginning January 1 and ending the following
December 31. “Effective Date” shall mean September 1, 2004. 
 1.26  “Termination of
Employment” shall mean (a) with respect to a Participant’s Grandfathered Amounts, the date on which the Participant ceases to perform services with all Employers and Affiliates, and (b) with respect to a Participant’s
Non-Grandfathered Amounts under the Plan, the date of the Participant’s separation from service (within the meaning of Treasury Regulation §§1.409A-1(h) and 1.409A-2(i)(2)) for any reason, including by reason of death or Disability,
with the Employer, except that in applying Sections 1563(a)(1), (2), and (3) of the Code for purposes of determining the controlled 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 Section 1563(a)(1), (2), and (3) of the Code, and in applying Treasury Regulation §1.414(c)-2 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 Treasury Regulation §1.414(c)-2. For
purposes of subsection (b), above, (i) the employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona fide leave of absence if the period of any such leave does not exceed six
months, or if longer, so long as the Participant retains the right to reemployment with the Employer under an applicable statute or by contract, (ii) a leave of absence constitutes a bona fide leave of absence only if there is a reasonable
expectation that the Participant will return to perform services for the Employer, and (iii) if the period of leave exceeds six months and the Participant does not retain a right to reemployment under an applicable law or by contract, the
employment relationship is deemed to terminate on the first date immediately following such six-month period. 

  
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 SECTION 2 
 Participation 
  

	2.1	Participation 

 Each
Eligible Employee who was a Participant in the Plan immediately before the Effective Date shall continue as a Participant on and after the Effective Date, subject to the terms and provisions of the Plan. Each other Eligible Employee shall become a
Participant in the Plan as of the earlier of the date on which an Eligible Employee’s initial deferral election to make Compensation Deferrals becomes irrevocable under Section 3.1(b) or the date on which an Eligible Employee first becomes
eligible to receive Non-Qualified Core Contributions under Section 3.2. 
  

	2.2	Suspension of Bonus Deferrals Due to Hardship 

 The Committee, in its sole discretion, may cancel the Participant’s Compensation Deferrals for the bonus portion of his or her Compensation due to a Financial Hardship or a hardship distribution
pursuant to Treasury Regulation §1.401(k)-1(d)(3). However, an election to make Compensation Deferrals under Section 3.1 shall be irrevocable as to amounts deferred as of the effective date of any cancellation in accordance with this
Section 2.2. Following any such cancellation of the Participant’s Compensation Deferrals for the bonus portion of his or her Compensation, any later election by such Participant to make Compensation Deferrals will be subject to the
provisions of Section 3.1(b) governing initial deferral elections. 
  

	2.3	Termination of Participation 

 An Eligible Employee who has become a Participant shall remain a Participant until his or her entire vested Account balance is distributed. However, an Eligible Employee who has become a Participant may
or may not be an active Participant making Compensation Deferrals for a particular Plan Year, depending upon whether he or she has elected to make Compensation Deferrals for such Plan Year. 

  
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 SECTION 3 
 Contributions 
  

	3.1	Compensation Deferrals 

At the times and in the manner prescribed in this Section 3.1, each Eligible Employee may elect to defer portions of his or her
Compensation and to have the amounts of such deferrals credited to his or her Account under the Plan on the records of the Employer in accordance with such rules as the Committee may establish. The Administrator may establish rules and regulations
regarding Compensation Deferrals, including minimum and maximum deferral requirements. An Eligible Employee’s decision to make Compensation Deferrals under the Plan shall be entirely voluntary. 

 

	 	(a)	Election to Defer Compensation Bonuses. Each Eligible Employee who makes an election to make Compensation Deferrals under this Section 3.1 shall make a
separate Compensation Deferral election with respect to the salary portion and the bonus portion of his or her Compensation. 

  

	 	(b)	 Specific Timing and Method of Election. The Administrator, in its sole discretion, shall determine the manner and deadlines for Participants to
make Compensation Deferral elections. Any employee designated as first becoming eligible to participate in the Plan may become a Participant by making a Compensation Deferral election in the time and manner determined by the Administrator. Such
election shall apply only to the Participant’s Compensation beginning on such eligibility date. Notwithstanding any provision of the Plan to the contrary, with respect to a Participant’s Non-Grandfathered Amounts attributable to
Compensation Deferrals, a Participant’s election to make Compensation Deferrals for a Plan Year under this Section 3.1 shall be made by filing the appropriate deferral election form(s) with the Administrator before the end of whichever of
the following periods applies to the Participant: (i) within the first 30 days after the employee “first becomes eligible to participate in the Plan” (within the meaning of Treasury Regulation §1.409A-2(a)(7)(ii)) with respect to
Compensation paid for services to be performed after the election, or (ii) if that 30-day period has expired, no later than the later of either (A) the December 31 preceding the year in which the Eligible Employee will earn the
Compensation (other than Performance-Based Compensation, as defined below) to be deferred (or such earlier date as determined by the Administrator), or (B) in the case of any

  
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Performance-Based Compensation (as defined in Treasury Regulation §1.409A-1(e)), the date that is six months before the end of the performance period (or such earlier date as determined by
the Administrator), provided that for purposes of this subsection (b)(ii)(B) the Eligible Employee performed services continuously from the later of the beginning of the performance period or the date the performance criteria are established through
the date the Eligible Employee made his or her election to defer such Performance-Based Compensation, and provided further that in no event may an election to defer Performance-Based Compensation be made after such Compensation has become readily
ascertainable. In the case of an Eligible Employee who previously ceased being an Eligible Employee, the phrase ‘first becomes eligible to participate in the Plan’ in subsection (b)(i) above shall be interpreted to apply only where the
Eligible Employee either (i) previously received payment of his or her total Account balance under the Plan, and on or before the date of the last payment was not eligible to continue (or elect to continue) to participate in the Plan for
periods after the last payment (other than through an election of a different form and time of payment with respect to the amounts paid), or (ii) regardless of whether such Eligible Employee previously received payment of his or her total
Account balance under the Plan, had not been eligible to participate in the Plan (other than the accrual of notional investment earnings under Section 4) at any time during the 24-month period ending on the date the Eligible Employee again
becomes eligible to participate in the Plan. If an Eligible Employee fails to timely elect to make Compensation Deferrals for a Plan Year pursuant to and in accordance with this Section 3.1(b), he or she may not later elect to make Compensation
Deferrals for that Plan Year. To the extent an Eligible Employee does timely elect to make Compensation Deferrals for a Plan Year pursuant to and in accordance with this subsection (b), such election shall be irrevocable upon the expiration of the
applicable election period prescribed under this subsection (b). 

  

	 	(c)	Crediting of Compensation Deferrals Other Than RSU Deferrals. The amounts deferred pursuant to this Section 3.1 shall reduce the Participant’s
Compensation during the Plan Year and shall be credited to the Participant’s Compensation Deferral Account as of the last day of the month in which the amounts (but for the deferral) would have been paid to the Participant. For each Plan Year,
the exact dollar amount to be deferred from each Compensation payment shall be determined by the Administrator under such formulae as it shall adopt from time to time. 

 

	 	(d)	 Special Rules for RSU Deferrals. Notwithstanding the foregoing, an Eligible Employee as defined in Subsection 1.13 may make an election to defer
into the Plan amounts attributable to RSUs (as defined in Section 1.3 above) granted to 

  
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such Participant which are eligible for deferral into this Plan, as determined by the Company. RSUs are eligible for deferral into this Plan to the extent that the RSUs are scheduled to become
vested no earlier than twelve months (and no later than the maximum number of months determined in the sole discretion of the Administrator) following the date such deferral election is effective. The Administrator, in its sole discretion, shall
determine the manner and deadlines for Participants to make RSU Deferral elections, provided that any such election shall comply with the requirements of Section 409A of the Code and the regulations thereunder. To the extent an Eligible
Employee timely elects to make RSU Deferrals for a Plan Year pursuant to and in accordance with this subsection (d), such election shall be irrevocable upon the expiration of the applicable election period determined by the Administrator. Because
deferrals of RSUs are deemed under Section 409A of the Code to constitute subsequent changes in the timing of payment of such RSUs, (i) such RSU Deferral Election shall not take effect until at least 12 months after the date on which the
election is effective; and (ii) in the case of an election related to a payment not on account of Disability, death, or Financial Hardship, the payment with respect to which the election is made must be deferred for a period of not less than
five years from the date such payment would otherwise have been paid (i.e., the vesting date). RSUs shall be invested only in the Company Stock Fund Option described in Subsection 4.1(b). The amounts deferred pursuant to this Subsection
(d) shall be credited to the Participant’s RSU Deferral Account as of the date upon which the underlying RSUs would have vested. In the event that the Participant experiences a Termination of Employment, death or Disability during the
period which begins on the date the Participant’s RSU Deferral election becomes effective and ends on the day before the date the Participant’s underlying RSUs would become vested, or in the event that the vesting of the RSUs is
accelerated during such period (for example, as a result of a change of control or other applicable event), such RSU Deferral Election shall become null and void, and disposition of the attributable RSUs shall be made as if such RSU Deferral
Election had never been made. 

  

	3.2	Non-Qualified Core Contributions 

 Employers shall make a Non-Qualified Core Contribution to the Plan for a Plan Year for each Eligible Employee designated by the Committee under Section 1.13 as being eligible to receive Non-Qualified
Core Contributions, provided that such employee is employed by an Employer on the last day of the Plan Year or incurred a termination of employment with all Employers and Affiliates prior to the last day of such Plan Year by reason of Normal
Retirement (as defined in the 401(k) Plan), death, or Disability. The 

  
 -11-

 
Employer’s Non-Qualified Core Contribution for the Plan Year with respect to an Eligible Employee will equal the difference between the Actuant Corporation Core Contribution allocable for
the Plan Year for the Eligible Employee as described in Section 3.01 of the 401(k) Plan calculated based on such Eligible Employee’s Eligible Compensation under this Plan and without regard to any benefit limitations imposed on such
Eligible Employee’s annual additions pursuant to Section 415 of the Code, minus the Actuant Corporation Core Contribution allocable for such Eligible Employee under the 401(k) Plan for the Plan Year. The Plan shall hold a
Participant’s Non-Qualified Core Contributions in his or her Non-Qualified Core Contribution Account. Participants shall not be eligible to elect the timing or form of payment of their Non-Qualified Core Contributions. Non-Qualified Core
Contributions shall be paid in a lump sum within ninety days of Termination of Employment. 
 SECTION 4 

Notional Investment of Contributions 
  

	4.1	Investment Options 

 The
Administrator has designated two Investment Options, the Deemed Interest Crediting Option and the Company Stock Fund Option, for the notional investment of Participants’ Accounts. The Investment Options are for recordkeeping purposes only and
do not allow Participants to direct any Employer assets (or, if applicable, the assets of any trust related to the Plan). Each Participant’s Account shall be adjusted pursuant to the Participant’s notional investment elections made in
accordance with this Section 4. 
  

	 	(a)	 Deemed Interest Crediting Option. Compensation Deferrals (other than RSU Deferrals) and Non-Qualified Core Contributions invested in the Deemed
Interest Crediting Option shall be credited with deemed interest as of the end of each month. A Participant’s monthly interest credit with respect to the portion of the Participant’s Account that is attributable to the Participant’s
service with the Employers during a particular Plan Year and that is invested in the Deemed Interest Crediting Option shall be equal to: (a) such portion of the Participant’s Account as of the first day of the month, less any distributions
of such portion of the Participant’s Account during the month pursuant to Section 6, multiplied by (b) a rate equal to one-twelfth of the applicable “Deemed Interest Rate.” The “Deemed Interest Rate” shall
be a rate of interest determined annually by the Committee prior to the beginning of each Plan Year. The Deemed Interest Rate shall be announced to Participants prior to the deadline for election of Compensation Deferrals for that Plan Year. The
Deemed Interest Rate for a Plan Year shall apply to all Compensation Deferrals and Non-Qualified Core Contributions attributable to service with the Employers during the applicable Plan Year for as long as those

  
 -12-

	 	
deferrals and contributions are maintained under the Plan; provided, however, that if the Participant elects a short-term payout for a Plan Year’s Compensation Deferrals pursuant to and in
accordance with Section 6.3, and thereafter elects to defer payment pursuant to and in accordance with Section 6.4, the Deemed Interest Rate on such Compensation Deferrals for Plan Years (or partial Plan Years) commencing after the
effective date of the subsequent deferral election shall be the Deemed Interest Rate in effect for the date on which the Participant’s subsequent deferral election is effective. 

 

	 	(b)	Company Stock Fund Option. Compensation Deferrals and Non-Qualified Core Contributions made to each Participant’s Account and invested in the Company Stock
Fund Option shall be deemed to be invested in Class A Common Shares of Actuant Corporation commencing as of the “Share Purchase Date” next following the date such deferrals or contributions are contributed to the Plan. “Share
Purchase Date” shall mean the “Trading Day” or days designated by the Committee following the end of each calendar month. “Trading Day” shall mean a day on which the New York Stock Exchange is open for trading.
Notwithstanding the foregoing, RSU Deferrals made to each Participant’s Account shall be deemed to be invested in Class A Common Shares of Actuant Corporation commencing as of the date such RSUs would otherwise have vested but for the
contribution of such RSU Deferrals into the Plan. An amount equal to the number of Class A Common Shares of Actuant Corporation a Participant is deemed to own under the Company Stock Fund Option multiplied by the dividend (if any) paid on such
Class A Common Shares on each dividend payment date shall be credited to the Participant’s Account as soon as practicable following the dividend payment date and shall be deemed to be invested in additional Class A Common Shares of
Actuant Corporation as though such dividends were a Compensation Deferral or a Non-Qualified Core Contribution the Participant elected to invest in the Company Stock Fund Option. The Company may, but is not required to, set aside Class A Common
Shares in anticipation of its obligation to pay certain benefits under the Plan in the form of Class A Common Shares. 

  

	4.2	Investment Option Elections 

 A Participant may elect one or both of the Investment Options (allocated in specified whole percentages) for the notional investment of his or her Compensation Deferrals (other than RSU Deferrals) in
accordance with the rules established from time to time by the Committee. Amounts attributable to RSUs deferred into this Plan and Non-Qualified Core Contributions made to this Plan shall be invested only in the Company Stock Fund Option described
in Subsection 4.1(b). A Participant may change his or her 

  
 -13-

 
investment election with respect to future Compensation Deferrals in accordance with the rules of the Committee. A Participant’s investment election shall remain in effect until later
changed in accordance with the rules of the Committee. If a Participant does not make an investment election, all Compensation Deferrals by the Participant (other than RSU Deferrals) made to the Plan in the Plan Year in which no investment election
by the Participant is applicable will be deemed to be invested in the Deemed Interest Crediting Option. 
  

	4.3	One-Time Election to Change Investment Option 

 Each Eligible Employee who was a Participant in the Plan immediately before September 1, 2004 was given a one-time irrevocable election,, during the time period designated by the Committee and
announced to Participants, to transfer all or a specified whole percentage of his or her notional interest in the Deemed Interest Crediting Option as of August 31, 2004, plus any Compensation Deferrals and Non-Qualified Core Contributions made
to the Plan on his or her behalf on or after September 1, 2004 but attributable to his or her service with an Employer prior to September 1, 2004, to the Company Stock Fund Option in accordance with rules established by the Committee for
such purpose. 

  
 -14-

 SECTION 5 
 Accounting 
  

	5.1	Participants’ Accounts 

 For each Plan Year, at the direction of the Administrator, there shall be established and maintained on the records of the Employer, the following accounts for each Participant (to the extent applicable):

  

	 	(a)	A “Compensation Deferral Account” to reflect the Compensation Deferrals (other than RSU Deferrals) made by the Participant during such Plan Year and the
notional income, dividends, appreciation, and depreciation attributable thereto. 

  

	 	(b)	A “Non-Qualified Core Contribution Account” to reflect the Non-Qualified Core Contributions credited on behalf of the Participant and the notional income,
dividends, appreciation, and depreciation attributable thereto. 

  

	 	(c)	An “RSU Deferral Account” to reflect RSU Deferrals made by the Participant effective for such Plan Year and the notional income, dividends, appreciation, and
depreciation attributable thereto. 

 Except as expressly modified, all accounts maintained for a Participant are referred to
collectively as the Participant’s “Account.” 
  

	5.2	Participants Remain Unsecured Creditors 

 All amounts credited to a Participant’s Account under the Plan shall continue for all purposes to be a part of the general assets of the Employer. Each Participant’s interest in the Plan shall
make him or her only a general, unsecured creditor of the Employer. In the event that an Employer (other than the Company) becomes insolvent and therefore unable to make a payment or payments owed by it under the Plan, the Company shall make such
payments; provided, however, that nothing in this sentence shall make any Participant anything other than a general, unsecured creditor of the Company. 
  

	5.3	Accounting Methods 

 The
accounting methods or formulae to be used under the Plan for the purpose of maintaining the Participants’ Accounts, including the calculation and crediting of notional income, dividends, appreciation, and depreciation, shall be determined by
the Administrator, in its sole discretion. The accounting methods or formulae selected by the Administrator may be revised from time to time. No Participant or Beneficiary shall have any right to examine books, records, or account of the Employers
in connection with amounts payable under the Plan. 

  
 -15-

	5.4	Reports 

 Each Participant
shall be furnished with periodic statements of his or her Account, reflecting the status of his or her interest in the Plan, at least annually. 

  
 -16-

 SECTION 6 
 Distributions 
  

	6.1	General Timing of Distributions 

  

	 	(a)	In General. Except as otherwise provided in this Section 6, payment of a Participant’s Account shall commence within ninety days of the
Participant’s Termination of Employment, provided that with respect to a Participant’s Non-Grandfathered Amounts, the Participant shall under no circumstances be permitted, directly or indirectly, to designate the taxable year of payment
(other than an election that complies with the subsequent deferral election rules under Section 6.2(c) and the payment of RSU Deferrals described in Section 3.1(d)). Notwithstanding the foregoing, payments in any Plan Year shall only be
made to the extent the Administrator reasonably anticipates that such payments are deductible for such Plan Year under Section 162(m) of the Code as of the date specified in Section 6.1. If, pursuant to the foregoing sentence, any amounts
are not paid when originally scheduled, such amounts shall be paid in the first taxable year which the Administrator reasonably anticipates (or should reasonably anticipate) that such payments would be deductible under Section 162(m) of the
Code. (During any such delay in payment, unpaid amounts shall continue to be credited with notional income, dividends, appreciation, and depreciation.) Notwithstanding the foregoing, distribution of a Participant’s Account shall be made without
regard to the deductibility of the payments under Section 162(m) of the Code if the time for distribution is accelerated pursuant to Section 6.5 (Change of Control) or Section 6.6 (Death or Disability). 

 

	 	(b)	 Special Timing Rule for Specified Employees. Notwithstanding any provision in the Plan to the contrary, with respect to a Participant’s
Non-Grandfathered Amounts, payment as a result of a Participant’s Termination of Employment to any Participant who is a Specified Employee (as of his or her Termination of Employment) shall not be made or commence before the date that is not
less than six months after such Participant’s Termination of Employment (or, if earlier, such Participant’s date of death). For this purpose, a ‘Specified Employee’ shall have the meaning assigned to such term in Treasury
Regulation §1.409A-1(i) at any time during the 12-month period, as determined by the Administrator ending with the annual date upon which key employees are identified by the Administrator (the ‘Specified Employee Identification Date). If a
Participant is a Specified Employee as of the Specified Employee 

  
 -17-

	 	
Identification Date, such Participant shall be treated as a Specified Employee for the entire 12-month period beginning on the effective date, as determined by the Administrator ending with the
annual date following the Specified Employee Identification Date (but no later than the first day of the fourth month following the Specified Employee Identification Date) (the ‘Specified Employee Effective Date’). In lieu of applying the
foregoing definition of a Specified Employee, the Administrator may apply the alternative method described in Treasury Regulation §1.409A-1(i)(5) in good faith with respect to any payment under the Plan as belonging to the group of identified
Specified Employees, to a maximum of 200 such Specified Employees, regardless of whether such employee is subsequently determined by the Employer, any governmental agency, or a court not to be a Specified Employee, as defined above by reference to
Section 416 of the Code. In the event amounts under the Plan are payable to a Specified Employee in installments, the first annual installment shall be delayed not less than six months after such Participant’s Termination of Employment,
with all other annual installment payments payable as originally scheduled. During any delay in payment under this subsection (b), unpaid amounts shall continue to be credited with notional income, dividends, appreciation, and depreciation. To the
extent not otherwise designated by the Employer in a separate document forming a part of the Plan applicable to all its nonqualified deferred compensation plans, the Specified Employee Identification Date for determining the Employer’s
Specified Employees is each December 31 and the Specified Employee Effective Date is each subsequent April 1 following the applicable Specified Employee Identification Date. To the extent not otherwise designated by the Employer in a
separate document forming a part of the Plan, the definition of compensation used to determine Specified Employee status shall be determined under Treasury Regulation §1.415(c)-2(a). 

 

	6.2	Form of Payment 

  

	 	(a)	 Form of Payment for Notional Investments in Deemed Interest Crediting Option. This subsection (a) applies to the portion of a
Participant’s Account that is invested in the Deemed Interest Crediting Option only. Payment (or installment payments) of a Participant’s notional investment in the Deemed Interest Crediting Option shall be made in cash. Each Participant
shall indicate on his or her benefit election form the form of payment (i.e., installments or lump sum) for the Compensation Deferrals other than RSU Deferrals (and the notional income attributable thereto) to be made for the specific Plan Year
covered by such benefit election form and invested in the Deemed Interest Crediting Option. Subject to any acceleration of payments required under this Section 6, a Participant may elect to receive such

  
 -18-

	 	
payment in one of the following forms of payment upon such Participant’s Termination of Employment commencing as of the date specified in Section 6.1 (i) a lump sum payment,
(ii) five annual installment payments, or (iii) ten annual installment payments; provided, however, that a Participant who elects to receive annual installments for five or ten years shall instead receive payment in a lump sum equal to the
balance then credited to his or her Account pursuant to and in accordance with the applicable provisions of this Section 6 if: (A) such Participant’s Termination of Employment occurs due to his or her death or Disability, or
(B) distribution to such Participant is accelerated due to a Change of Control. Except as permitted under Section 6.2(c) or as otherwise permitted under Section 409A of the Code, a Participant’s election as to the form of payment
shall be irrevocable as of the date coinciding with the date on which the initial deferral election becomes irrevocable under Section 3.1(b) or 3.2, as the case may be, and shall apply to all amounts credited to the Participant’s Account
that are (iii) attributable to service with the Employers during the Plan Year with respect to which the election relates and (iv) invested in the Deemed Interest Crediting Option. If the Participant elected to receive five or ten annual
installment payments, subject to any acceleration of payments required under this Section 6, his or her first installment shall be equal to 1/5th or 1/10th (respectively) of the balance then credited to his or her Account that is
(v) attributable to service with the Employers during the Plan Year with respect to which the election relates and (vi) invested in the Deemed Interest Crediting Option. Each subsequent annual installment shall be paid to the Participant
in each of the Participant’s subsequent taxable years commencing with such Participant’s second taxable year following the taxable year in which his or her Termination of Employment occurred and ending in the Participant’s taxable
year in which the final annual installment is due. The amount of each subsequent installment shall be equal to the balance then credited to the Participant’s Account that is (vii) attributable to service with the Employers during the Plan
Year with respect to which the election relates and (viii) invested in the Deemed Interest Crediting Option, divided by the number of annual installments remaining to be made. While a Participant’s Account is in installment payout status,
the unpaid balance credited to the Participant’s Account shall continue to be credited with notional income. 

  

	 	(b)	 Form of Payment for Notional Investments in Company Stock Fund Option. Subject to any acceleration of payments required under this
Section 6, payment of a Participant’s notional investment in the Company Stock Fund Option upon such Participant’s Termination of Employment shall commence as of the date specified in Section 6.1 and, except as

  
 -19-

	 	
provided below, shall be paid in the form of a lump sum in whole Class A Common Shares of Actuant Corporation plus cash in an amount equal to the value of any fractional interest in a
Class A Common Share of Actuant Corporation. Notwithstanding the foregoing, with respect to Compensation Deferrals invested in the Company Stock Fund Option other than RSU Deferrals, each Participant may indicate on his or her benefit election
form the form of payment (i.e., installments or lump sum) for the Compensation Deferrals invested in the Company Stock Fund (and the notional income attributable thereto), to be made for the specific Plan Year covered by such benefit election form.
Subject to any acceleration of payments required under this Section 6, a Participant may elect to receive such payment in one of the forms of payment (i.e., installments or lump sum) described in subsection (a), above, but subject to the
acceleration of payment and subsequent deferral of payment provisions therein, upon such Participant’s Termination of Employment commencing as of the date specified in Section 6.1. Except as permitted under Section 6.2(c) or as
otherwise permitted under Section 409A of the Code, a Participant’s election as to the form of payment shall be irrevocable as of the date coinciding with the date on which the initial deferral election becomes irrevocable under
Section 3.1(b) or 3.2, as the case may be, and shall apply to all amounts credited to the Participant’s Account that are (i) attributable to service with the Employers during the Plan Year with respect to which the election relates,
and (ii) attributable to Compensation Deferrals invested in the Company Stock Fund Option. . The amount of annual installment payments from the Company Stock Fund Option shall be determined in a manner substantially similar to the methodology
applied to determine annual installment payments from the Deemed Interest Crediting Option, as described in subsection (a), above, except that payment of any annual installment shall be made in the form of whole Class A Common Shares of Actuant
Corporation plus cash in an amount equal to the value of any fractional interest in a Class A Common Share of Actuant Corporation. Notwithstanding the foregoing, RSU Deferrals, which are always notionally invested in the Company Stock Fund,
shall be paid only in the form of a lump sum. Non-Qualified Core Contributions, which are always notionally invested in the Company Stock Fund, shall be paid only in a lump sum within 90 days of the Participant’s Termination of Employment.

  

	 	(c)	 Subsequent Change in Form or Timing of Payment. Except to the extent otherwise permitted under Section 409A of the Code, notwithstanding
any provision of the Plan to the contrary, including without limitation Section 6.4, with respect to a Participant’s Non- Grandfathered Amounts, a Participant or the Employer, as the case may be, shall not be

  
 -20-

	 	
permitted to change or revoke the form or timing of payment with respect to the Participant’s Compensation Deferrals (including RSU Deferrals) and/or Non-Qualified Core Contributions on or
after the date on which such election would otherwise be irrevocable under Section 3.1(b), 3.1(d) or 3.2, as the case may be. Notwithstanding the foregoing, a Participant or the Employer shall be permitted to change or revoke, in the case of
Compensation Deferrals other than RSU deferrals, the form (i.e., lump sum or installments) or timing of payment of such deferrals, or, in the case of RSU Deferrals, to change the timing of payment of the Participant’s RSU Deferrals, provided
that all of the following requirements are satisfied with respect to such Participant’s or the Employer’s subsequent election to change the form or timing of payment, but only to the extent such subsequent election to change the form or
timing of payment is so authorized under rules established by the Administrator and approved by the Committee: (i) such election shall not take effect until at least 12 months after the date on which the election is made; (ii) in the case
of an election related to a payment not on account of Disability, death, or Financial Hardship, the payment with respect to which the election is made must be deferred for a period of not less than five years from the date such payment would
otherwise have been paid (or in the case of an installment payments treated as a single payment within the meaning of Treasury Regulation §1.409A-2(b)(2), five years from the date the first amount was scheduled to be paid); and (iii) in
the case of an election related to a payment at a specified time or pursuant to a fixed schedule, such as a short-term payout election under Section 6.3, the election be made not less than 12 months before the date the payment is scheduled to
be paid (or in the case of installment payments treated as a single payment within the meaning of Treasury Regulation §1.409A-2(b)(2), 12 months before the date the first amount was scheduled to be paid). 

 

	6.3	Short-Term Payout 

 A
Participant may elect, on his or her Compensation Deferral election for any Plan Year, to receive a short-term payout of the Participant’s Compensation Deferrals other than RSU Deferrals (and the notional income, dividends, appreciation, and
depreciation attributable thereto) for that Plan Year. The short-term payout shall be a lump sum payment in cash (for notional investments in the Deemed Interest Crediting Option) or in whole Class A Common Shares of Actuant Corporation plus
cash in an amount equal to the value of any fractional interest in a Class A Common Share of Actuant Corporation (for notional investments in the Company Stock Fund Option), as applicable. Subject to the other terms and conditions of this Plan,
the short-term payout of Compensation Deferrals other than RSU Deferrals shall be paid within 90 days of the earlier of (a) the date selected by the Participant (which must be at least three years after the date on which the Participant’s
initial Compensation Deferral election for a Plan Year becomes irrevocable under Section 3.1(b)), or (b) the Participant’s Termination of Employment. 

  
 -21-

	6.4	Subsequent Deferral Elections for Short-Term Payouts 

 By filing a deferral election with the Committee at least six (6) months prior to the date any short-term payout becomes payable, a Participant may defer payment of all or any portion of a short-term
payout or an amount payable pursuant to a prior deferral election for a one-year period (or such longer period as is approved by the Committee); provided that any such deferral election shall be effective only with the consent of the Committee. As
it is in the Company’s interest to defer payments of Compensation, the Committee shall be deemed to consent to a deferral election unless the Committee notifies the Participant in writing, within thirty business days after receipt of the
deferral election, that consent is not given. Notwithstanding the foregoing, with respect to a Participant’s Non-Grandfathered Amounts attributable to the portion of his or her Compensation Deferrals other than RSU Deferrals that are subject to
a short-term payout deferral election pursuant to and in accordance with Section 6.3, or with respect to a Participant’s RSU Deferrals, a Participant shall not be permitted to revoke the timing of payments with respect to Non-Grandfathered
Amounts on or after the date on which the initial short-term deferral or RSU payment election for a Plan Year would otherwise be irrevocable under Sections 3.1(b) or 3.1(d), nor permitted to change the timing of such payments unless all of the
following requirements are satisfied with respect to such Participant’s subsequent election to change the timing of payment, but only to the extent such subsequent election is so authorized under rules established by the Administrator and
approved by the Committee: (i) such election shall not take effect until at least 12 months after the date on which the election is made; (ii) in the case of an election related to a payment not on account of Disability, death, or
Financial Hardship, the payment with respect to which the election is made must be deferred for a period of not less than five years from the date such payment would otherwise have been paid (or in the case of an installment payments treated as a
single payment within the meaning of Treasury Regulation §1.409A-2(b)(2), five years from the date the first amount was scheduled to be paid); and (iii) the election be made not less than 12 months before the date the payment is scheduled
to be paid (or in the case of installment payments treated as a single payment within the meaning of Treasury Regulation §1.409A-2(b)(2), 12 months before the date the first amount was scheduled to be paid). 

 

	6.5	Change of Control 

 If
there is a Change of Control, the balance then credited to a Participant’s Account shall be distributed to him or her in a lump sum within 90 days after the date of the Change of Control. 

  
 -22-

	6.6	Special Rule for Death or Disability 

 If a Participant dies or becomes Disabled, the balance then credited to his or her Account shall be distributed to the Participant (or his or her Beneficiary) in a lump sum within 90 days after the date
of death or Disability. 
  

	6.7	Beneficiary Designations 

Each Participant may, pursuant to such procedures as the Administrator may specify, designate one or more Beneficiaries. A Participant may
designate different Beneficiaries (or may revoke a prior Beneficiary designation) at any time by delivering a new designation (or revocation of a prior designation) in like manner. Any designation or revocation shall be effective only if it is
received by the Administrator. However, when so received, the designation or revocation shall be effective as of the date the notice is executed (whether or not the Participant still is living), but without prejudice to the Administrator on account
of any payment made before the change is recorded. The last effective designation received by the Administrator shall supersede all prior designations. If a Participant dies without having effectively designated a Beneficiary, or if no Beneficiary
survives the Participant, the Participant’s Account shall be payable to his or her surviving spouse, or, if the Participant is not survived by his or her spouse, the Account shall be paid to his or her estate. 

 

	6.8	Financial Hardship 

 In
the event that a Participant incurs a Financial Hardship, the Committee or its delegate, in its sole discretion and notwithstanding any contrary provision of the Plan, may determine that all or part of the Participant’s Compensation Deferral
Account shall be paid to him or her within 90 days of such Participant incurring such Financial Hardship; provided, however, that the amount paid to the Participant pursuant to this Section 6.8 shall be limited to the amount reasonably
necessary to alleviate the Participant’s Financial Hardship (which may include amounts necessary to pay any Federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from the distribution). 

 

	6.9	Payments to Incompetents 

If any individual to whom a benefit is payable under the Plan is a minor or legally incompetent, the Committee shall determine whether
payment shall be made directly to the individual, any person acting as his or her custodian or legal guardian under the Uniform Transfers to Minors Act, his or her legal representative or a near relative, or directly for his or her support,
maintenance or education. 
  

	6.10	Undistributable Accounts 

Each Participant and (in the event of death) his or her Beneficiary shall keep the Administrator advised of his or her current address. If
the Administrator is unable to locate a Participant to whom a Participant’s Account is payable under this Section 6, the 

  
 -23-

 
Participant’s Account shall be held in suspense pending location of the Participant, without any prejudice to the Committee, the Administrator, or the Company (and each of their respective
authorized delegates), as the case may be, including, without limitation, for any additional tax liability resulting from such delay in payment, provided that such unpaid amounts shall continue to be credited with notional income, dividends,
appreciation, and depreciation. If the Administrator is unable to locate a Beneficiary to whom a Participant’s Account is payable under this Section 6 within six (6) months (or, with respect to a Participant’s Non-Grandfathered
Amounts, such other period during which payment must commence under this Section 6 or, if later, such other period permitted under Section 409A of the Code) of the Participant’s death, the Participant’s Account shall be paid to
the Participant’s estate. 
  

	6.11	Committee Discretion 

Within the specific time periods described in this Section 6, the Committee shall have sole discretion to determine the specific
timing of the payment of any Account balance under the Plan. In addition and notwithstanding any contrary provision of the Plan, the Committee, in its sole discretion, may cause the balance credited to a Participant’s Account to be paid to him
or her in a lump sum at any time following the Participant’s termination of employment with all Employers and Affiliates. Notwithstanding the foregoing, the Committee shall retain and exercise such discretion reserved hereunder only to the
extent such retention and exercise of discretion does not violate the requirements of Section 409A of the Code with respect to a Participant’s Non-Grandfathered Amounts. 

 

	6.12	Withholding; Reporting 

To the extent required by law in effect at the time any distribution is made from the Plan, the Employers shall withhold any taxes and
such other amounts required to be withheld. Further, to the extent required by law, the Employer shall report amounts deferred and/or amounts taxable under the Plan to the appropriate governmental authorities, including, without limitation, to the
United States Internal Revenue Service. 

  
 -24-

 SECTION 7 
 Participant’s Interest in Account 
 Subject to Sections 5.2 (relating
to creditor status) and 9.2 (relating to amendment and/or termination of the Plan), a Participant’s interest in the balance credited to his or her Account at all times shall be 100% vested and nonforfeitable. 

  
 -25-

 SECTION 8 
 Administration of the Plan 
  

	8.1	Plan Administrator 

 The
Company is hereby designated as the administrator of the Plan (within the meaning of Section 3(16)(A) of ERISA). 
  

	8.2	Committee 

 The Committee
shall have the authority to control and manage the operation and administration of the Plan. Any member of the Committee may resign at any time by notice in writing mailed or delivered to the Secretary of the Company. 

 

	8.3	Actions by Committee 

Each decision of a majority of the members of the Committee then in office shall constitute the final and binding act of the Committee.
The Committee may act with or without a meeting being called or held and shall keep minutes of all meetings held and a record of all actions taken by written consent. 
  

	8.4	Powers of Committee 

 The
Committee shall have all powers and discretion necessary or appropriate to supervise the administration of the Plan and to control its operation in accordance with its terms, including, but not by way of limitation, the following powers: 

 

	 	(a)	To interpret and determine the meaning and validity of the provisions of the Plan and to determine any question arising under, or in connection with, the
administration, operation or validity of the Plan or any amendment thereto; 

  

	 	(b)	To determine any and all considerations affecting the eligibility of any employee to become a Participant or remain a Participant in the Plan; 

 

	 	(c)	To cause one or more separate Accounts to be maintained for each Participant; 

 

	 	(d)	To cause Compensation Deferrals, Non-Qualified Core Contributions, and notional income, dividends, appreciation, and depreciation to be credited to Participants’
Accounts; 

  
 -26-

	 	(e)	To establish and revise an accounting method or formula for the Plan, as provided in Section 5.3; 

 

	 	(f)	To determine the manner and form in which any distribution is to be made under the Plan; 

 

	 	(g)	To determine the status and rights of Participants and their spouses, Beneficiaries or estates; 

 

	 	(h)	To employ such counsel, agents and advisers, and to obtain such legal, clerical and other services, as it may deem necessary or appropriate in carrying out the
provisions of the Plan; 

  

	 	(i)	To establish, from time to time, rules for the performance of its powers and duties and for the administration of the Plan; 

 

	 	(j)	To arrange for annual distribution to each Participant of a statement of benefits accrued under the Plan; 

 

	 	(k)	To establish a claims and appeal procedure satisfying the minimum standards of Section 503 of ERISA pursuant to which individuals or estates may claim Plan
benefits and appeal denials of such claims; 

  

	 	(l)	To delegate to any one or more of its members or to any other person, severally or jointly, the authority to perform for and on behalf of the Committee one or more of
the functions of the Committee under the Plan; and 

  

	 	(m)	To decide all issues and questions regarding Account balances, and the time, form, manner, and amount of distributions to Participants. 

 

	8.5	Decisions of Committee 

Benefits under the Plan will be paid to a person only if the Committee or its delegate decides in its discretion that the person is
entitled to such benefits. All actions, interpretations, and decisions of the Committee or its delegate shall be conclusive and binding on all persons, and shall be given the maximum possible deference allowed by law. No action at law or in equity
shall be brought to recover benefits under this Plan until the appeal rights herein provided have been exercised and the Plan benefits requested in such appeal have been denied in whole or in part. After exhaustion of the Plan’s claim
procedures, any further legal action taken against the Plan or its fiduciaries by the Participant or other claimant must be filed in a court of law no later than 120 days after the Committee’s final decision regarding the claim. 

  
 -27-

	8.6	Administrative Expenses 

Expenses incurred in the administration of the Plan by the Committee or otherwise, including legal fees and expenses, shall be paid by the
Employers in such proportions and allocations as the Committee determines. 
  

	8.7	Eligibility to Participate 

No member of the Committee who is also an employee of an Employer shall be excluded from participating in the Plan if otherwise eligible,
but he or she shall not be entitled, as a member of the Committee, to act or pass upon any matters pertaining specifically to his or her own Account under the Plan. 
  

	8.8	Indemnification 

 Each of
the Employers shall, and hereby does, indemnify and hold harmless the members of the Committee, from and against any and all losses, claims, damages or liabilities (including attorneys’ fees and amounts paid, with the approval of the Board of
Directors, in settlement of any claim) arising out of or resulting from the implementation of a duty, act or decision with respect to the Plan, so long as such duty, act or decision does not involve gross negligence or willful misconduct on the part
of any such individual. 

  
 -28-

 SECTION 9 
 Modification or Termination of Plan 
  

	9.1	Employers’ Obligations Limited 

 The Employers intend to continue the Plan indefinitely, and to maintain each Participant’s Account until it is scheduled to be paid to him or her in accordance with the provisions of the Plan.
However, the Plan is voluntary on the part of the Employers, and the Employers do not guarantee to continue the Plan. The Company at any time may, by amendment of the Plan, suspend Compensation Deferrals or Non-Qualified Core Contributions or may
discontinue Compensation Deferrals or Non-Qualified Core Contributions, with or without cause. 
  

	9.2	Right to Amend or Terminate 

 The Board of Directors reserves the right to alter, amend or terminate the Plan, or any part thereof, in such manner as it may determine, at any time and for any reason. The Company, in its sole
discretion, may seek a private letter ruling from the Internal Revenue Service regarding the tax consequences of the Plan. If such a ruling is sought, the Committee shall have the right to adopt such amendments to the Plan, including retroactive
amendments, as the Internal Revenue Service may require as a condition to the issuance of such ruling. 
  

	9.3	Effect of Termination 

 If
the Plan is terminated pursuant to this Section 9, the balances credited to the Accounts of the affected Participants shall be distributed to them at the time and in the manner set forth in Section 6; provided, however, that the Committee,
in its sole discretion, may authorize accelerated distribution of Participants’ Accounts as of any earlier date; provided that with respect to Non-Grandfathered Amounts, such discretion reserved to the Committee to accelerate the form and
timing of the distribution of Participants’ Accounts shall be exercised only to the extent the termination of the Plan arises pursuant to and in accordance with one of the following provisions: 

 

	 	(a)	Corporate Dissolution or Bankruptcy. The Plan is terminated and liquidated by the Employer within 12 months of a corporate dissolution taxed under
Section 331 of the Code, or with the approval of a bankruptcy court pursuant to Section 503(b)(1)(A) of the Bankruptcy Code, provided such amounts are included in the Participants’ gross incomes in the latest of the following years
(of, if earlier, the taxable year in which such amounts are actually or constructively received) (i) the calendar year in which the Plan is terminated and liquidated, (ii) the first calendar year in which amounts are no longer subject to a
substantial risk of forfeiture, or (iii) the first calendar year in which the payment is administratively practicable. 

  
 -29-

	 	(b)	Change of Control Event. The Employer takes irrevocable action to terminate and liquidate the Plan within the 30 days before or 12 months after the occurrence of
a Change of Control, provided that all other plans sponsored by the Employer after the Change of Control with which the Plan is required to be aggregated under Section 409A of the Code are terminated and liquidated with respect to each
Participant that experienced the Change of Control, so that all such Participants are required to receive a distribution of the amounts deferred under the Plan and such aggregated plans within 12 months of the date the Employer took such irrevocable
action to terminate and liquidate all such aggregated plans. 

  

	 	(c)	Termination of All Similar Arrangements. The Plan is terminated and liquidated by the Employer, provided (i) the termination and liquidation does not occur
proximate to a downturn in the financial health of the Employer; (ii) the Employer terminates and liquidates all other plans required to be aggregated under Section 409A if the same Employer had deferrals of compensation under all such
aggregated plans, (iii) no payments are made on account of the terminations (other than payments that would have been payable in the absence of the plan terminations) within 12 months of the date the Employer takes irrevocable action to
terminate and liquidate all such aggregated plans, (iv) all payments are made within 24 months of the of the date the Employer takes irrevocable action to terminate and liquidate all such aggregated plans, and (vi) within three years
following the date the Employer takes irrevocable action to terminate and liquidate all such aggregated plans, the Employer does not establish any new nonqualified deferred compensation plans that would otherwise have been aggregated with the Plan
under Section 409A of the Code if the same Participant participated in both plans. 

  

	 	(d)	Other. The Plan is terminated and liquidated pursuant to and in accordance such other events and conditions prescribed under Section 409A of the Code.

 . 

  
 -30-

 SECTION 10 
 General Provisions 
  

	10.1	Inalienability 

 In no
event may either a Participant, a former Participant or his or her Beneficiary, spouse or estate sell, transfer, anticipate, assign, hypothecate, or otherwise dispose of any right or interest under the Plan; and such rights and interests shall not
at any time be subject to the claims of creditors nor be liable to attachment, execution or other legal process. Accordingly, for example, a Participant’s interest in the Plan is not transferable pursuant to a domestic relations order.

  

	10.2	Successors, Acquisitions, Mergers, Consolidations 

 The terms and conditions of the Plan shall inure to the benefit of and bind the Employers, the Participants, their successors, assigns and personal representatives. 

 

	10.3	Rights and Duties 

Neither the Employers nor the Committee shall be subject to any liability or duty under the Plan except as expressly provided in the
Plan, or for any action taken, omitted or suffered in good faith. 
  

	10.4	No Right to Employer Assets 

 No participant or other person shall acquire by reason of the Plan any right in or title to any assets, funds or property of the Employers whatsoever, including, without limiting the generality of the
foregoing, any specific funds, assets, or other property which the Employers, in their sole discretion, may set aside in anticipation of liability hereunder. Any benefit which become payable hereunder shall be paid from the general assets of the
Employers. A Participant shall have only a contractual right to the amounts, if any, payable hereunder to that Participant. The Employer’s obligations under this Plan are not secured or funded in any manner, even if the Company elects to
establish a trust with respect to the Plan. Even though benefits provided under the Plan are not funded, the Company may establish a trust to assist in the payment of benefits. All investments under this Plan are notional and do not obligate the
Company (or its delegates) to invest the assets of the Company or of any such trust in a similar manner. 
  

	10.5	No Enlargement of Employment Rights 

 Neither the establishment or maintenance of the Plan, the making of any Compensation Deferrals nor any action of any Employer or the Committee, shall be held or construed to confer upon any individual any
right to be continued as an employee of the Employer nor, upon dismissal, any right or interest in any specific assets of the Employers other than as provided in the Plan. Each Employer expressly reserves the right to discharge any employee at any
time. 

  
 -31-

	10.6	Apportionment of Costs and Duties 

 All acts required of the Employers under the Plan may be performed by the Company for itself and its Affiliates, and the costs of the Plan may be equitably apportioned by the Committee among the Company
and the other Employers. Whenever an Employer is permitted or required under the terms of the Plan to do or perform any act, matter or thing, it shall be done and performed by any officer or employee of the Employer who is thereunto duly authorized
by the board of directors of the Employer. 
  

	10.7	Compensation Deferrals Not Counted Under Other Employee Benefit Plans 

 Compensation Deferrals under the Plan will not be considered for purposes of contributions or benefits under any other employee benefit plan sponsored by the Employers. 

 

	10.8	Applicable Law 

 The
provisions of the Plan shall be construed, administered and enforced in accordance with applicable Federal law, and to the extent not preempted thereby or inconsistent therewith, with the laws of the State of Wisconsin, without regard to the
conflicts of laws provisions of that State or any other jurisdiction. Without limiting the generality and applicability of the foregoing and notwithstanding any provision in the Plan to the contrary, if and to the extent that the payment of any
Non-Grandfathered Amounts would otherwise violate the requirements of Section 409A of the Code, such Non-Grandfathered Amounts shall be paid under such other conditions determined by the Administrator or the Committee, as the case may be, that
cause the payment of such Non-Grandfathered Amounts to comply with Section 409A of the Code and the Plan shall be construed and administered accordingly to achieve that objective. 

 

	10.9	Responsibility for Legal Effect 

 No representations or warranties, express or implied, are made by the Employers or the Committee and neither the Employers nor the Committee assumes any responsibility concerning the legal, tax, or other
implications or effects of the Plan. 
  

	10.10	Severability 

 If any
provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability shall not affect any other provisions of the Plan, and in lieu of each provision which is held invalid or unenforceable, there shall be added as part of the
Plan a provision that shall be as similar in terms to such invalid or unenforceable provision as may be possible and be valid, legal, and enforceable. 
  

	10.11	Captions 

 The captions
contained in and the table of contents prefixed to the Plan are inserted only as a matter of convenience and for reference and in no way define, limit, enlarge or describe the scope or intent of the Plan nor in any way shall affect the construction
of any provision of the Plan. 

  
 -32-EX-10.17

 Exhibit 10.17 
 ACTUANT CORPORATION 
 EXECUTIVE OFFICER BONUS PLAN 

Article I. Purpose. 
 The
purpose of Actuant Corporation Executive Officer Bonus Plan (the “Plan”) is to promote the success of Actuant Corporation by (i) compensating and rewarding participating executives with annual cash bonuses for the achievement of
performance goals and (ii) motivating such executives by giving them opportunities to receive bonuses directly related to such performance. This Plan is intended to provide bonuses that qualify as performance-based compensation within the
meaning of Section 162(m) of the Internal Revenue Code. 
 Article II. Definitions. 

“Award” means an award under this Plan of an opportunity to receive a Bonus if the applicable Performance Target(s) are
achieved for the applicable Fiscal Year. 
 “Award Notice” means a notice in writing (delivered either in hard
copy or electronically) evidencing the grant of an Award under this Plan that has been authorized by the Compensation Committee of the Board of Directors. 
 “Base Salary” in respect of any Fiscal Year means the annual base salary of a Participant from the Company and all affiliates of the Company in effect at the time Participant is selected
to participate for that Fiscal Year, exclusive of any commissions or other actual or imputed income from any Company-provided benefits or perquisites, but prior to any reductions for salary deferred pursuant to any deferred compensation plan or for
contributions to a plan qualifying under Section 401(k) of the Code or contributions to a cafeteria plan under Section 125 of the Code. 
 “Board” means the Board of Directors of Actuant Corporation. 

“Bonus” means a cash payment under this Plan. 
 “Business Criteria” means any one or a combination of the business criteria set forth on Appendix A hereto. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 “Committee” means the Compensation Committee of the Board. 

“Company” means Actuant Corporation and its Subsidiaries. 

“Actuant Corporation” means Actuant Corporation, a Wisconsin corporation, and any successor entity which shall have
assumed the rights and obligations of this Plan by operation of law or otherwise. 
 “Executive” means a key
employee (including any elected officer) of the Company who is (or in the opinion of the Committee may become) a “covered employee” for purposes of Section 162(m). 

“Participant” means an Executive selected to participate in the Plan by the Committee for the applicable Fiscal Year.

 “Performance Target(s)” means the specific objective goal or goals that are timely set in writing by the
Committee pursuant to Section 4.2 for each Participant for the Fiscal Year in respect of any one or more of the Business Criteria. 
 “Plan” means Actuant Corporation Executive Officer Bonus Plan, as amended from time to time. 
 “Fiscal Year” means the twelve months ended August 31. 

“Section 162(m)” means Section 162(m) of the Code, and the regulations promulgated thereunder, all as amended from
time to time. 

 “Subsidiary” means a corporation, partnership, limited liability company or
other entity in which Actuant Corporation owns, directly or indirectly, capital stock or other interests having ordinary voting power to elect a majority of the Board of Directors or other governing body. 

Article III. Administration of the Plan. 
 3.1 The Committee. This Plan shall be administered by the Committee, which shall consist solely of two or more members of the Board who are “outside directors” within the meaning of
Section 162(m). Action of the Committee with respect to the administration of this Plan shall be taken pursuant to a majority vote or by written consent of its members. 
 3.2 Powers of the Committee. Subject to the express provisions of this Plan, the Committee shall have the sole authority to establish and administer the Business Criteria and Performance Target(s)
and the responsibility of determining the time or times at which and the form and manner in which Bonuses will be paid (which may include elective or mandatory deferral alternatives) and shall otherwise be responsible for the administration of this
Plan in accordance with its terms. The Committee shall have the authority to construe and interpret this Plan and any agreements or other document relating to Awards under this Plan, may adopt rules and regulations relating to the administration of
this Plan, and shall exercise all other duties and powers conferred on it by this Plan. 
 3.3 Express Authority (and
Limitations on Authority) to Change Terms and Conditions of Awards; Acceleration or Deferral of Payment. Without limiting the Committee’s authority under other provisions of this Plan, but subject to any express limitations of this Plan and
compliance with Section 162(m), the Committee shall have the authority to accelerate payment of a Bonus (after the attainment of the applicable Performance Target(s)) and to waive restrictive conditions for a Bonus (including any forfeiture
conditions, but not Performance Target(s)), in such circumstances as the Committee deems appropriate. Any deferred payment shall be subject to Section 4.8. In addition, and notwithstanding anything in this Plan to the contrary, the Committee
shall have the authority to provide under the terms of an Award that payment or vesting shall be accelerated upon the death or disability of a Participant, a change in control of the Company, or upon termination of the Participant’s employment
without cause or as a constructive termination, as and in the manner provided by the Committee, subject to such provision not causing the Award to fail to satisfy the requirements for performance-based compensation under Section 162(m)
generally. 
 Article IV. Bonus Provisions. 
 4.1 Provision for Bonus. Each Participant may receive a Bonus if and only if the Performance Target(s) established by the Committee for the Award, relative to the applicable Business Criteria, are
attained in the applicable Fiscal Year. Notwithstanding the fact that the Performance Target(s) have been attained, the Committee may, in its sole discretion, decide to pay a Bonus of less than the amount determined by the formula or standard
established pursuant to Section 4.2 or to pay no Bonus at all. 
 4.2 Determination of Performance Target(s). The
Committee must establish the specific Performance Target(s) with respect to an Award while the performance relating to the Performance Target(s) remains substantially uncertain within the meaning of Section 162(m) and in no event more than 90
days after the commencement of the applicable Fiscal Year. At the time the Performance Target(s) for an Award are selected, the Committee shall provide, in terms of an objective formula or standard for each Participant, the method of computing the
specific amount of Bonus and maximum amount of Bonus that will be payable to the Participant if the Performance Target(s) are attained, subject to Sections 4.1, 4.3, 4.6 and 4.7. 

4.3 Maximum Individual Bonus. Notwithstanding any other provision hereof, the maximum aggregate Bonus that may be paid pursuant to
all Awards granted in any Fiscal Year to any one Executive under this Plan is three times such Executive’s Base Salary for that Fiscal Year. 
 4.4 Effective Mid-Year Commencement of Service; Termination of Employment. To the extent compatible with Sections 4.2 and 5.5, if an individual’s services as an Executive commence after the
Performance Target(s) are established for a Fiscal Year, the Committee may establish Performance Target(s), grant an Award and pay a Bonus to such Executive for a performance period equal to the period of time from the date such individual is
selected to participate in the Plan to the end of the Fiscal Year; provided, however, that the Committee must establish such Performance Target(s) while the performance relating to such Performance Target(s) remains substantially uncertain within
the meaning of Section 162(m) and in no event after 25% of such performance period has 

 
elapsed. The amount of any Bonus to such Executive shall not exceed that proportionate amount of the applicable maximum individual bonus under Section 4.3. In the event of the termination of
employment of a Participant prior to the end of the Fiscal Year, the Participant shall not be entitled to any payment in respect of the Bonus, unless otherwise expressly provided by the terms of the Award Notice or other written contract with the
Company 
 4.5 Adjustments. To preserve the intended incentives and benefits of an Award, the Committee shall
(a) adjust Performance Target(s) or other features of an Award to reflect any material change in corporate capitalization, any material corporate transaction (such as a reorganization, combination, separation, merger, acquisition, or any
combination of the foregoing), or any complete or partial liquidation of the Company (or any material portion of the Company), (b) calculate Performance Target(s) without regard to any change in accounting policies or practices affecting the
Company and/or the Business Criteria or the Performance Target(s), and (c) adjust Business Criteria and Performance Target(s) or other features of an Award to reflect the effects of any special charges to the Company’s earnings, in each
case only to the extent consistent with generally accepted accounting principles and the requirements of Section 162(m) to qualify such Award as performance-based compensation. 

4.6 Committee Discretion to Determine Bonuses. The Committee has the sole discretion to determine the standard or formula pursuant
to which each Participant’s Bonus shall be calculated (in accordance with Sections 4.1 and 4.2) and whether all or any portion of the amount so calculated will be paid, subject in all cases to the terms, conditions and limits of this Plan and
of any other written commitment authorized by the Committee. The Committee may not, increase the maximum amount permitted to be paid to any individual under Section 4.2 or 4.3 of this Plan or pay a Bonus under this Plan if the applicable
Performance Target(s) have not been satisfied. 
 4.7 Committee Certification. No Participant shall receive any payment
under this Plan unless the Committee has certified, by resolution or other appropriate action in writing, that the amount thereof has been accurately determined in accordance with the terms, conditions and limits of this Plan and that the
Performance Target(s) and any other material terms previously established by the Committee or set forth in this Plan or the applicable Award Notice were in fact satisfied. 
 4.8 Time of Payment; Deferred Amounts. Any Bonuses shall be paid as soon as practicable following the Committee’s determinations under this Section 4 and the certification of the
Committee’s findings under Section 4.7. Payment shall be in cash or cash equivalents, as determined by the Committee at the time of payment, subject to withholding pursuant to Section 5.6. Notwithstanding the foregoing but subject to
compliance with Section 162(m) and Section 4.3, the Committee may provide a Participant the opportunity to elect to defer the payment of any Bonus under a nonqualified deferred compensation plan maintained by the Company. In the case of
any deferred payment of a Bonus after the attainment of the applicable Performance Target(s), any amount in excess of the amount otherwise payable shall be based on either Moody’s Average Corporate Bond Yield (or such other rate of interest
that is deemed to constitute a “reasonable rate of interest” for purposes of Section 162(m)) over the deferral period or the return over the deferral period of one or more predetermined hypothetical investments such that the amount
payable at the later date will be based upon returns for such investments, including any decrease or increase in the value of the investment(s). 
 Article V. General Provisions. 
 5.1 Rights of Executives, Participants and
Beneficiaries. 
 (a) No Right to Awards or Continued Employment. Neither the establishment of this Plan
nor the provision for or payment of any amounts hereunder nor any action of the Company, the Board or the Committee in respect of this Plan shall be held or construed to confer upon any person any legal right to receive an Award or any other benefit
under this Plan. Nothing contained in this Plan (or in any other documents under this Plan or in any Award Notice) shall confer upon any Executive or Participant any right to continue in the employ of the Company, constitute any contract or
agreement of employment, nor interfere in any way with the right of the Company to change a person’s compensation or other benefits, or to terminate his or her employment, with or without cause. Nothing in this Section 5.1(a), however, is
intended to adversely affect any express independent right of such person under a separate employment contract. 

(b) Plan Not Funded. Awards payable under this Plan shall be payable from the general assets of the Company, and no
special or separate reserve, fund or deposit shall be made to assure payment of such Awards. No Participant or other person shall 

 
have any right, title or interest in any fund or in any specific asset of the Company by reason of any Award hereunder. Neither the provisions of this Plan (nor of any related documents), nor the
creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company and any Participant or other person. To the
extent that a Participant or other person acquires a right to receive payment pursuant to any Award hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company. 

5.2 Non-Transferability of Benefits and Interests. Except as expressly provided by the Committee in accordance with the provisions
of Section 162(m), all Awards are non-transferable, and no benefit payable under this Plan shall be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge. This Section 5.2 shall not
apply to an assignment of a contingency or payment due (a) after the death of a Participant to the deceased Participant’s legal representative or Beneficiary or (b) after the disability of a Participant to the disabled
Participant’s personal representative. 
 5.3 Discretion of Company, Board and Committee. Any decision made or
action taken by, or inaction of, the Company, the Board or the Committee arising out of or in connection with the creation, amendment, construction, administration, interpretation and effect of this Plan that is within its authority hereunder or
applicable law shall be within the absolute discretion of such entity and shall be conclusive and binding upon all persons. Neither the Board nor the Committee, nor any person acting at the direction thereof, shall be liable for any act, omission,
interpretation, construction or determination made in good faith in connection with this Plan (or an Award made under this Plan). 
 5.4 Law to Govern. All questions pertaining to the construction, regulation, validity and effect of the provisions of this Plan shall be determined in accordance with the laws of the State of
Wisconsin. 
 5.5 Construction. It is the intent of the Company that this Plan, Awards and Bonuses paid hereunder will
qualify as performance-based compensation or will otherwise be exempt from deductibility limitations under Section 162(m). Any provision, application or interpretation of this Plan inconsistent with this intent to satisfy the standards in
Section 162(m) shall be disregarded. 
 5.6 Tax Withholding. Upon the payment of any Bonus, the Company shall have
the right to deduct the amount of any taxes that Actuant Corporation or any Subsidiary may be required to withhold with respect to such cash payment. 
 5.7 Amendments, Suspension or Termination of Plan. The Committee may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole or in part. Notwithstanding the
foregoing, no amendment may be effective without Board and/or stockholder approval if such approval is necessary to comply with the applicable rules of Section 162(m). 
 5.8 Effective Date. This Plan is effective as of September 1, 2004, subject, however, to the approval of Actuant Corporation’s stockholders prior to any payment of any Bonus hereunder.

 5.9 Captions. Captions and headings are given to the sections and subsections of this Plan solely as a convenience to
facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Plan or any provision thereof. 
 5.10 Non-Exclusivity of Plan. Subject to compliance with Section 162(m), nothing in this Plan shall limit or be deemed to limit the authority of the Board or the Committee to grant awards or
authorize any other compensation under any other plan or authority. 
 5.11 Limitation on Actions. Any and all rights of
any employee or former employee of the Company against the Company arising out of or in connection with this Plan or any Awards hereunder shall terminate, and any action against the Company shall be barred, after the expiration of one year from the
date of the act of omission in respect of which such right of action arose. 
 5.12 Successors. The provisions of this
Plan shall inure to the benefit of and be binding upon the Company, its successors and assigns. 

 APPENDIX A 
 BUSINESS CRITERIA 
 The Business Criteria shall mean any one or a
combination of the business criteria listed below. The Business Criteria applicable to an Award may be established with respect to Actuant Corporation or any applicable Subsidiary, division, segment, or unit, on a consolidated or separate basis.
Except as otherwise expressly provided, all financial terms are used as defined under generally accepted accounting principles (GAAP) and all determinations shall be made in accordance with GAAP, as applied by Actuant Corporation in its periodic
reports filed with the Securities and Exchange Commission. 
 Asset Carrying Charge means the sum of (1) 20% of the
average total of current assets (including, but not limited to, net accounts receivable, inventory and prepaid assets), net fixed assets, and other long-term assets less accounts payable, accrued compensation, pension and employee benefits, current
income tax balances and other liabilities (on a divisional, segment, or subsidiary level), and (2) 12% of the average total of goodwill, intangible assets and non-current deferred income tax balances. Asset Carrying Charge is a financial
measure that is not defined in accounting principles generally accepted in the United States of America, but is based on numbers that are. 
 Combined Management Measure means EBITA or Divisional Profit less an Asset Carrying Charge. Combined Management Measure is a financial measure that is not defined in accounting principles generally
accepted in the United States of America, but is based on numbers that are. 
 Diluted Earnings Per Share means earnings
(loss) per share of Common Stock and is calculated as Net Earnings divided by the weighted average number of diluted shares of Common Stock outstanding for the period. 
 Divisional Profit means Operating Profit before amortization expense. 

EBITA means Net Earnings before discontinued operations, extraordinary items, the cumulative effect of changes in accounting
principles, net financing costs, income tax expense, amortization, and other adjustments, such as currency translation impact, as considered necessary by the Committee. EBITA is a financial measure that is not defined in accounting principles
generally accepted in the United States of America, but is based on numbers that are. 
 EBITDA means EBITA plus
depreciation. 
 Free Cash Flow means EBITDA less cash taxes paid, less capital expenditures, less cash interest paid,
plus non-cash stock based compensation expense, plus or minus changes in working capital and other assets and liabilities (excluding cash and debt) and other adjustments, as considered necessary by the Committee. 

Net Assets Employed means the average total of net accounts receivable, net inventory, prepaid assets, net fixed assets, and other
long-term assets less accounts payable, accrued compensation and benefits, and other current liabilities 
 Profit Margin
means the applicable Profit amount divided by Net Revenues. 
 Return on Assets means EBITA divided by Net Assets
Employed. 
 Return on Equity means Net Income divided by average stockholders’ equity. 

Return on Net Assets means Net Income divided by average net assets, defined as total assets less total liabilities. 

Revenues mean the dollar amount of sales to customers. 
 Stock Appreciation means increase in the value of the Common Stock measured over a given period of time. 
 Core Revenue Growth means an increase in Revenue measured over a given period of time, excluding the impact of foreign currency translation changes. 

Total Stockholder Return means change in stock price from the beginning to the end of the period, plus any dividends paid, divided
by the stock price at the beginning of the period.

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