Document:

EX-10.16

 Exhibit 10.16 

INDEMNIFICATION AGREEMENT 

THIS AGREEMENT dated as of June 3, 2014 and effective as of as of the consummation of the merger (the “Merger”) between Pentair
plc (“Parent”) and Pentair Ltd. (such time, the “Effective Time”), by and between Pentair Management Company, a Delaware corporation (the “Company”), and [•] (“Covered Person”). 

WHEREAS, Covered Person has previously served as a director and/or officer for Pentair Ltd., the publicly-traded holding company for the
Pentair group of companies, including the Company, which, pursuant to the merger agreement between Pentair Ltd. and Parent, will, simultaneously with the effectiveness of this Agreement, consummate the Merger, resulting in Parent becoming the
ultimate parent entity of the Company and the Pentair group; 
 WHEREAS, following the Effective Time, the Company will be an indirect
wholly owned subsidiary of Parent; 
 WHEREAS, it is essential to the Company that the ultimate parent entity of the Pentair group retain
and attract as directors and officers the most capable persons available; 
 WHEREAS, in order to attract such persons, Parent must provide
such persons with adequate protection through indemnification against the risks of claims and actions against them arising out of their services to and activities on behalf of Parent; 

WHEREAS, the Company has requested that Covered Person serve as a director and/or officer of Parent upon the Effective Time, and, if requested
to do so by the Company, as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other Enterprise; 

WHEREAS, due to restrictions imposed by Irish law, the Articles of Association of Parent do not confer indemnification and advancement rights
on its directors and officers as broad as the indemnification and advancement rights that, prior to the Effective Time, were provided by Pentair Ltd. to its directors and officers; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify persons serving as directors
and/or officers of Parent to the fullest extent permitted by the General Corporation Law of the State of Delaware so that they will serve or continue to serve as directors and/or officers of Parent free from undue concern that they will not be so
indemnified due to the applicable law applying to the ultimate parent entity of the Pentair group as a result of the Merger; 
 NOW,
THEREFORE, in consideration of the above premises, Covered Person’s service to Parent and the covenants and agreements set forth below, and for other good and valuable consideration and other benefits received, the receipt and adequacy of which
are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

 1. Certain Definitions. 

(a) Affiliate: any corporation or other person or entity that directly, or indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with, the person specified. 
 (b) Board: the Board of Directors of Parent. 

(c) Change of Control: shall occur, with respect to Parent, if: 

(i) any Person becomes a “Beneficial Owner,” as such term is used in Rule 13d-3 promulgated under the Exchange Act,
of 50% or more of the Voting Shares (as defined below) of Parent; 
 (ii) the majority of the Board consists of individuals
other than Incumbent Directors, which term means the members of the Board immediately following the Merger, provided that any person becoming a member of the Board subsequent to such date whose election or nomination for election was supported by
three-quarters of the members of the Board who then comprised the Incumbent Directors shall be considered to be an Incumbent Director; 

(iii) Parent adopts any plan of liquidation providing for the distribution of all or substantially all of its assets; 

(iv) all or substantially all of the assets or business of Parent is disposed of pursuant to a merger, consolidation or other
transaction (unless the shareholders of Parent immediately prior to such a merger, consolidation or other transaction beneficially own, directly or indirectly, 50% or more of the Voting Shares or other ownership interests of the entity or entities,
if any, that succeed to the assets or business of Parent); or 
 (v) Parent combines with another company and is the
surviving corporation but, immediately after the combination, the shareholders of Parent immediately prior to the combination hold, directly or indirectly, 50% or less of the Voting Shares of the combined company (there being excluded from the
number of shares held by such shareholders, but not from the Voting Shares of the combined company, any shares received by Affiliates of such other company in exchange for shares of such other company). 

(d) Enterprise: Parent and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or
other enterprise of which Covered Person is or was serving at the request of the Company as a director, officer, trustee, general partner, managing member, fiduciary, board of directors’ committee member, employee or agent. 

(e) Exchange Act: the U.S. Securities Exchange Act of 1934, as amended. 

  
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 (f) Expenses: any expense, liability, or loss, including reasonable attorneys’ fees,
judgments, fines, ERISA excise taxes and penalties, amounts paid or to be paid in settlement, any interest, assessments, or other charges imposed thereon, any federal, state, local, or foreign taxes imposed as a result of the actual or deemed
receipt of any payments under this Agreement, and all other costs and obligations, paid or incurred in connection with investigating, defending, prosecuting (subject to Section 2(b)), being a witness in, participating in (including on appeal),
or preparing for any of the foregoing in, any Proceeding relating to any Indemnifiable Event. Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium,
security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. 
 (g) Indemnifiable
Event: (i) any event or occurrence that takes place either prior to or after the execution of this Agreement, related to the fact that Covered Person is or was a director, officer, secretary or employee of Parent, or while a director,
officer or secretary of Parent is or was serving at the request of the Company as a director, officer, secretary, employee, trustee, agent, or fiduciary of any other Enterprise, or related to anything done or not done by Covered Person in any such
capacity, whether or not the basis of the Proceeding is alleged action in an official capacity as a director, officer, secretary, employee, trustee, agent, or fiduciary or in any other capacity while serving as a director, officer, secretary,
employee, trustee, agent, or fiduciary, or (ii) any event or occurrence that took place prior to the Effective Time, related to the fact that Covered Person was a director or officer of Pentair Ltd., or while a director or officer of Pentair
Ltd. was serving at the request of Pentair Ltd. as a director, officer, employee, trustee, agent, or fiduciary of any other Enterprise, or was a director, officer, employee, trustee, agent, or fiduciary of a foreign or domestic corporation that was
a predecessor corporation of Pentair Ltd. or another Enterprise at the request of such predecessor corporation, or related to anything done or not done by Covered Person in any such capacity, whether or not the basis of the Proceeding is alleged
action in an official capacity as a director, officer, employee, trustee, agent, or fiduciary or in any other capacity while serving as a director, officer, employee, trustee, agent, or fiduciary. 

(h) Independent Counsel: the person or body appointed as such in connection with Section 3. 

(i) officer of Parent: officer of Parent as defined or appointed by the Board. 

(j) Person: means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a
trust, a joint venture, an unincorporated organization, a governmental authority or similar entity or organization. 
 (k) Proceeding:
any threatened, pending, or completed investigation, inquiry, hearing, action, suit, proceeding or alternative dispute resolution mechanism (including by or in the right of Parent), whether civil, criminal, administrative or investigative. 

(l) Reviewing Party: the person or body appointed as such in accordance with Section 3. 

(m) Specified Change of Control: a Change of Control of Parent (other than a Change in Control approved by a majority of the Incumbent
Directors). 
 (n) Voting Shares: with respect to any Enterprise, capital shares of any class or classes having general voting power
under ordinary circumstances, in the absence of contingencies, to elect the directors (or similar function) of such Enterprise. 

  
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 2. Agreement to Indemnify. 

(a) General Agreement. In the event Covered Person was, is, or is threatened to be made a party to or is otherwise involved in a
Proceeding by reason of (or arising in part out of) an Indemnifiable Event, the Company shall indemnify Covered Person from and against any and all Expenses to the fullest extent permitted by law, as the same exists or may hereafter be amended or
interpreted (but in the case of any such amendment or interpretation, only to the extent that such amendment or interpretation permits the Company to provide broader indemnification rights than were permitted prior thereto). The parties hereto
intend that this Agreement shall provide for indemnification in excess of that expressly permitted by statute or provided by Parent’s Articles of Association, the separate deed of indemnification which Covered Person has with Parent or
applicable law. 
 (b) Initiation of Proceeding. Notwithstanding anything in this Agreement to the contrary, Covered Person shall not
be entitled to indemnification pursuant to this Agreement in connection with any Proceeding initiated by Covered Person against Parent or any director or officer of Parent unless (i) Parent has joined in or the Board has consented to the
initiation of such Proceeding; (ii) the Proceeding is one to enforce indemnification rights under Section 5; or (iii) the Proceeding is instituted after a Specified Change in Control and Independent Counsel has approved its
initiation. 
 (c) Mandatory Indemnification. Notwithstanding any other provision of this Agreement, to the extent that Covered Person
has been successful on the merits or otherwise in defense of any Proceeding relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, Covered Person shall be indemnified by the Company hereunder against all
Expenses incurred in connection therewith. 
 (d) Expense Advances. If Covered Person is made or threatened to be made a party to a
Proceeding or is otherwise involved in a Proceeding by reason of (or arising in part out of) an Indemnifiable Event, Covered Person is entitled, upon written request to the Company, to advancement of reimbursement by the Company of reasonable
expenses, including attorneys’ fees and disbursements, incurred by the person in advance of the final disposition of the Proceeding (“Expense Advances”), upon receipt by the Company of a written affirmation by Covered Person of a good
faith belief that the criteria for indemnification by the Company pursuant to this Section 2 have been satisfied and a written undertaking by Covered Person to repay all amounts so paid or reimbursed by the Company, if it is ultimately
determined (by a final, non-appealable adjudication or arbitration decision to which Covered Person is a party) that the criteria for such indemnification under this Section 2 have not been satisfied. Covered Person shall not be entitled to any
Expense Advance in respect of a Proceeding if in the determination of the Reviewing Party (which determination is subject to challenge by Covered Person pursuant to Section 4(b)) it previously has already been ultimately determined that Covered
Person is not entitled to indemnification under this Section 2 in respect of the Indemnifiable Event that is the subject matter of the Proceeding. Covered Person’s obligation to reimburse the Company for Expense Advances shall be unsecured
and no interest shall be charged thereon. 

  
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 (e) Partial Indemnification. If Covered Person is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Covered Person for the portion thereof to which Covered Person is entitled. 

(f) Prohibited Indemnification. Notwithstanding any other provision of this Agreement, no indemnification pursuant to this Agreement
shall be paid by the Company: 
 (i) on account of any Proceeding in which judgment is rendered against Covered Person for an
accounting of profits made from the purchase or sale by Covered Person of securities of Parent pursuant to the provision of Section 16(b) of the Exchange Act or similar provision of any federal, state, or local laws; or 

(ii) if a court or governmental or administrative authority of competent jurisdiction by a final determination not subject to
appeal, determines that Covered Person has committed a breach of his or her statutory duties to Parent for which such indemnification would be invalid under applicable law. 

3. Reviewing Party; Exhaustion of Remedies. (a) Prior to any Specified Change in Control, the Reviewing Party with respect
to a Proceeding shall be (i) the members of the Board who are not parties to such Proceeding, even though less than a quorum (acting by a majority vote thereof); (ii) a committee comprised entirely of members of the Board who are not
parties to such Proceeding (acting by a majority vote thereof), such committee to be designated by a majority vote of the Board; (iii) if there is no such member of the Board, or if such member or members of the Board so direct, by Independent
Counsel in a written opinion; or (iv) the General Meeting of Shareholders (acting by resolution of a majority of the shares represented at the General Meeting). After a Specified Change of Control, the Reviewing Party shall be Independent
Counsel. 
 (b) With respect to all matters arising after a Specified Change in Control concerning the rights of Covered Person to
indemnification and Expense Advances under this Agreement, the separate deed of indemnification which Covered Person has with Parent or any other agreement to which Parent or any of its Affiliates is a part, or under applicable law or Parent’s
Articles of Association now or hereafter in effect relating to indemnification for Indemnifiable Events, Parent and the Company shall seek legal advice only from Independent Counsel selected by Covered Person and approved by Parent (which approval
shall not be unreasonably withheld), and who has not otherwise performed services for Parent, the Company or Covered Person (other than previously acting as Independent Counsel) within the last five years. The Independent Counsel shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest (other than previously acting as Independent Counsel) in representing Parent, the Company or Covered Person in an action to
determine Covered Person’s rights under this Agreement. Such Independent Counsel, among other things, shall render its written opinion to Parent, the Company and Covered Person as to whether and to what extent Covered Person should be permitted
to be indemnified under applicable law. In 

  
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doing so, the Independent Counsel may consult with (and rely upon) counsel in any appropriate jurisdiction (e.g., Delaware) who would qualify as Independent Counsel (“Local Counsel”).
The Company agrees to pay the reasonable fees of the Independent Counsel and the Local Counsel and to indemnify fully such counsel against any and all expenses (including attorneys’ fees), claims, liabilities, loss, and damages arising out of
or relating to this Agreement or the engagement of Independent Counsel or the Local Counsel pursuant hereto. 
 (c) Prior to making written
demand on the Company for indemnification pursuant to Section 4(a) or making a request for Expense Advance pursuant to Section 2(d), Covered Person shall (i) seek such indemnification or Expense Advance, as applicable, under any
applicable insurance policy and (ii) request that Parent consider in its discretion whether to make such indemnification or Expense Advance, as applicable. Upon any such request by Covered Person of Parent, Parent shall consider whether to make
such indemnification or Expense Advance, as applicable, based on the facts and circumstances related to the request. Parent may require, as a condition to making any indemnification or Expense Advance, as applicable, that Covered Person enter into
an agreement providing for such indemnification or Expense Advance, as applicable, to be made subject to substantially the same terms and conditions applicable to an indemnification or Expense Advance, as applicable, by the Company hereunder
(including, without limitation, conditioning any Expense Advance upon delivery to Parent of an undertaking of the type described in Section 2(d)). In the event indemnification or Expense Advance, as applicable, is not received pursuant to an
insurance policy, or from Parent, within 5 business days of the later of Covered Person’s request of the insurer and Covered Person’s request of Parent as provided in the first sentence of this Section 3(c), Covered Person may make
written demand on the Company for indemnification pursuant to Section 4(a) or make a request for Expense Advance pursuant to Section 2(d), as applicable. 

4. Indemnification Process and Appeal. 

(a) Indemnification Payment. Covered Person shall be entitled to indemnification of Expenses, and shall receive payment thereof, from
the Company in accordance with this Agreement as soon as practicable after Covered Person has made written demand on the Company for indemnification, unless the Reviewing Party has given a written opinion to the Company that Covered Person is not
entitled to indemnification under applicable law. 
 (b) Adjudication or Arbitration. (i) If Covered Person has not received
indemnification or an Expense Advance after making a demand in accordance with the terms of this Agreement (a “Nonpayment”), Covered Person shall have the right to enforce its indemnification rights under this Agreement by commencing
litigation in any federal or state court located in the State of Delaware having subject matter jurisdiction thereof (each such court, as applicable, the “Applicable Court”) seeking an initial determination by the court or challenging any
determination by the Reviewing Party or any aspect thereof. Any determination by the Reviewing Party not challenged by Covered Person in any such litigation shall be binding on the Company and Covered Person. The remedy provided for in this
Section 4(b) shall be in addition to any other remedies available to Covered Person at law or in equity. The Company and Covered Person hereby irrevocably and unconditionally (A) agree that any action or proceeding arising out of or in
connection with this Agreement shall be brought only in the Applicable Court and not in any other court in the United States or in any other country, (B)

  
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consent to submit to the exclusive jurisdiction of the Applicable Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (C) waive any objection
to the laying of venue or any such action or proceeding in the Applicable Court, and (D) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Applicable Court has been brought in an improper or
inconvenient forum. 
 (ii) Alternatively, in the case of a Nonpayment, Covered Person, at his or her option, may seek an
award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. 

(iii) In the event that a determination shall have been made pursuant to this Agreement that Covered Person is not entitled to
indemnification or an Expense Advance, any judicial proceeding or arbitration commenced pursuant to this Section 4(b) shall be conducted in all respects as a de novo trial, or arbitration, on the merits, and Covered Person shall not be
prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 4(b) the Company shall have the burden of proving Covered Person is not entitled to indemnification or Expense
Advance, as the case maybe. If Covered Person commences a judicial proceeding or arbitration pursuant to this Section 4(b), Covered Person shall not be required to reimburse the Company for any advances pursuant to Section 2(d) until a
final determination is made with respect to Covered Person’s entitlement to an Expense Advance (as to which all rights of appeal have been exhausted or lapsed). 

(iv) In the event that Covered Person, pursuant to this Section 4(b), seeks a judicial adjudication of or an award in
arbitration to enforce his or her rights under, or to recover damages for breach of, this Agreement, if Covered Person prevails in whole or in part in such action, Covered Person shall be entitled to recover from the Company, and shall be
indemnified by the Company against, any and all Expenses actually and reasonably incurred by Covered Person in so enforcing his or her rights under, or so recovering damages for breach of, this Agreement, in such judicial adjudication or
arbitration. 
 (c) Defense to Indemnification, Burden of Proof, and Presumptions. 

(i) It shall be a defense to any action brought by Covered Person against the Company to enforce this Agreement that it is not
permissible under applicable law for the Company to indemnify Covered Person pursuant to this Agreement for the amount claimed; provided that the Company may not assert this defense in an action brought by Covered Person to enforce a claim for
Expense Advance in respect of a Proceeding unless it previously has already been ultimately determined (by a final, non-appealable adjudication or arbitration decision to which Covered Person is a party) that Covered Person is not entitled to
indemnification under Section 2 in respect of the Indemnifiable Event that is the subject matter of the Proceeding. 

(ii) In connection with any action or any determination by the Reviewing Party or otherwise as to whether Covered Person is
entitled to be indemnified hereunder, the burden of proving such a defense or determination shall be on the Company. 

  
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 (iii) Neither the failure of the Reviewing Party, the Company or Parent
(including its Board, Independent Counsel, or its shareholders) to have made a determination prior to the commencement of such action by Covered Person that indemnification of Covered Person is proper under the circumstances because Covered Person
has met the standard of conduct set forth in applicable law, nor an actual determination by the Reviewing Party, the Company or Parent (including its Board, Independent Counsel, or its shareholders) that Covered Person had not met such applicable
standard of conduct, shall be a defense to the action or create a presumption that Covered Person has not met the applicable standard of conduct. 

(iv) For purposes of this Agreement, to the fullest extent permitted by law, the termination of any claim, action, suit, or
proceeding, by judgment, order, settlement (whether with or without court approval), conviction, or upon a plea of nolo contendere, or its equivalent, shall not, of itself, create a presumption that Covered Person did not meet any particular
standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law. 

(v) For purposes of any determination of good faith, Covered Person shall be deemed to have acted in good faith if Covered
Person’s action is based on the records or books of account of any Enterprise, including financial statements, or on information supplied to Covered Person by the management of such Enterprise in the course of their duties, or on the advice of
legal counsel for such Enterprise or on information or records given or reports made to such Enterprise by an independent certified public accountant or by an appraiser or other expert selected by such Enterprise. The provisions of this
Section 4(c)(v) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Covered Person may be deemed or found to have met the applicable standard of conduct set forth in applicable law. 

(vi) The knowledge and/or actions, or failure to act, of any other director, trustee, partner, managing member, fiduciary,
officer, agent or employee of any Enterprise shall not be imputed to Covered Person for purposes of determining any right to indemnification under this Agreement. 

(vii) The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this
Agreement that the procedures or presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any court or before any arbitrator that the Company is bound by all the provisions of this Agreement. 

5. Indemnification for Expenses Incurred in Enforcing Rights. In addition to Covered Person’s rights under
Section 4(b)(iv), the Company shall indemnify Covered Person against any and all Expenses that are incurred by Covered Person in connection with any action brought by Covered Person: 

(a) for indemnification or advance payment of Expenses under any agreement to which the Company or any of its Affiliates is a party (other than
this Agreement) or under applicable law, Parent’s Articles of Association now or hereafter in effect relating to indemnification or advance payment of Expenses for Indemnifiable Events (it being specified, for the avoidance of doubt, that this
clause (a) shall not be deemed to provide Covered Person with a right to the indemnification or advance payment of Expenses being sought in such action); and/or 

  
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 (b) for obtaining recovery under directors’ and officers’ liability insurance policies
maintained by Parent, but only in the event that Covered Person ultimately is determined to be entitled to such indemnification or insurance recovery, as the case may be. In addition, the Company shall, if so requested by Covered Person, provide
Expense Advances to Covered Person, subject to and in accordance with Section 2(d), in respect of any such action. 
 6.
Notification and Defense of Proceeding. 
 (a) Notice. Promptly after receipt by Covered Person of notice of the
commencement of any Proceeding, Covered Person shall, if a claim in respect thereof is to be made against the Company under this Agreement, notify Parent and the Company of the commencement thereof; but the omission so to notify Parent and the
Company will not relieve the Company from any liability that it may have to Covered Person, except as provided in Section 6(c). 
 (b)
Defense. With respect to any Proceeding as to which Covered Person notifies Parent and the Company of the commencement thereof, the Company will be entitled to participate in the Proceeding at its own expense and except as otherwise provided
below, to the extent the Company so wishes, it may assume the defense thereof with counsel reasonably satisfactory to Covered Person. After notice from the Company to Covered Person of its election to assume the defense of any Proceeding, the
Company shall not be liable to Covered Person under this Agreement or otherwise for any Expenses subsequently incurred by Covered Person in connection with the defense of such Proceeding other than reasonable costs of investigation or as otherwise
provided below. Covered Person shall have the right to employ legal counsel in such Proceeding, but all Expenses related thereto incurred after notice from the Company of its assumption of the defense shall be at Covered Person’s expense
unless: (i) the employment of legal counsel by Covered Person has been authorized by the Company, (ii) Covered Person has reasonably determined that there may be a conflict of interest between Covered Person and the Company and/or Parent
in the defense of the Proceeding, (iii) after a Specified Change in Control, the employment of counsel by Covered Person has been approved by the Independent Counsel, or (iv) the Company shall not in fact have employed counsel to assume
the defense of such Proceeding, in each of which cases all Expense of legal counsel of Covered Person in respect of the Proceeding shall be borne by the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or
on behalf of the Company or as to which Covered Person shall have employed legal counsel as provided for in (ii), (iii) and (iv) above. 

(c) Settlement of Claims. The Company shall not be liable to indemnify Covered Person under this Agreement or otherwise for any amounts
paid in settlement of any Proceeding effected without the Company’s written consent, such consent not to be unreasonably withheld; provided, however, that if a Specified Change in Control has occurred, the Company shall be liable for
indemnification of Covered Person for amounts paid in settlement if the Independent 

  
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Counsel has approved the settlement. The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on Covered Person without Covered Person’s written
consent. The Company shall not be liable to indemnify Covered Person under this Agreement with regard to any judicial award to the extent the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense of
such action; the Company’s liability hereunder shall not be excused if participation in the Proceeding by the Company was barred by this Agreement. 

7. Establishment of Trust. In the event of a Specified Change in Control, the Company shall, upon written request by Covered
Person, create a trust for the benefit of Covered Person (the “Trust”) and from time to time upon written request of Covered Person shall fund the Trust in an amount sufficient to satisfy any and all Expenses reasonably anticipated at the
time of each such request to be incurred in connection with investigating, preparing for, participating in, and/or defending any Proceeding relating to an Indemnifiable Event. The amount or amounts to be deposited in the Trust pursuant to the
foregoing funding obligation shall be determined by the Independent Counsel. The terms of the Trust shall provide that (i) the Trust shall not be revoked or the principal thereof invaded without the written consent of Covered Person,
(ii) the Trustee (as defined below) shall advance, within five business days of a request by Covered Person, any and all Expenses to Covered Person (and Covered Person hereby agrees to reimburse the Trust under the same circumstances for which
Covered Person would be required to reimburse the Company under Section 2(d) of this Agreement), (iii) the Trust shall continue to be funded by the Company in accordance with the funding obligation set forth above, (iv) the Trustee
shall promptly pay to Covered Person all amounts for which Covered Person shall be entitled to indemnification pursuant to this Agreement or otherwise, and (v) all unexpended funds in the Trust shall revert to the Company upon a final
determination by the Independent Counsel or a court of competent jurisdiction, as the case may be, that Covered Person has been fully indemnified under the terms of this Agreement. The trustee of the Trust (the “Trustee”) shall be chosen
by Covered Person. Nothing in this Section 7 shall relieve the Company of any of its obligations under this Agreement. All income earned on the assets held in the Trust shall be reported as income by the Company for federal, state, local, and
foreign tax purposes. The Company shall pay all costs of establishing and maintaining the Trust and shall indemnify the Trustee against any and all expenses (including attorney’s fees), claims, liabilities, loss, and damages arising out of or
relating to this Agreement or the establishment and maintenance of the Trust. 
 8. Non-Exclusivity. It being the
policy of the Company that indemnification of Covered Person shall be made to the fullest extent permitted by the applicable law, the indemnification provided by this Agreement shall not be deemed exclusive (a) of any other rights Covered
Person may be entitled, including pursuant to Parent’s Articles of Association, any separate agreement, including the separate deed of indemnification which Covered Person has with Parent, applicable law, any insurance purchased by Parent, vote
of shareholders of Parent or disinterested members of the Board, or pursuant to the direction (however embodied) of any court of competent jurisdiction, or otherwise, both as to action in his or her official capacity and as to action in another
capacity while holding such office, or (b) of the power of the Company to indemnify any person who is or was an employee or agent of Parent or of another Enterprise which he or she is serving or has served at the request of Parent. The
indemnification provided by this Agreement shall continue as to Covered Person after he or she has ceased to be a member of the Board or officer of Parent and shall inure to the benefit of his or her heirs, executors, and administrators. 

  
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 To the extent that a change in applicable law (whether by statute or judicial decision) permits
greater indemnification than would be afforded currently under Parent’s Articles of Association, the separate deed of indemnification which Covered Person has with Parent, applicable law or this Agreement, it is the intent of the parties that
Covered Person enjoy by this Agreement the greater benefits so afforded by such change. 
 9. Continuation of Contractual Indemnity or
Period of Limitations. All agreements and obligations of the Company contained herein shall continue for so long as Covered Person shall be subject to, or involved in, any Proceeding for which indemnification is provided pursuant to this
Agreement.  
 10. Contribution. To the fullest extent permissible under applicable law, if the indemnification
provided for in this Agreement is unavailable to Covered Person for any reason whatsoever, the Company, in lieu of indemnifying Covered Person, shall contribute to the amount incurred by Covered Person, whether for judgments, fines, penalties,
excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an Indemnifiable Event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the
circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Parent on one hand, and Covered Person on the other hand, as a result of the event(s) and/or transaction(s) giving cause to such
Proceeding; and/or (ii) the relative fault of the Company and/or Parent (and its directors, officers, employees and agents) on one hand, and Covered Person on the other hand, in connection with such event(s) and/or transaction(s). 

11. Amendment of this Agreement. No supplement, modification, or amendment of this Agreement shall be binding unless executed in
writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party against whom enforcement of the waiver is sought, and no such waiver shall operate as a
continuing waiver. Except, as specifically provided herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof. 

12. Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to
all of the rights of recovery of Covered Person, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to
bring suit to enforce such rights. 
 13. No Duplication of Payments. The Company shall not be liable under this
Agreement to make any payment in connection with any claim made against Covered Person to the extent Covered Person has otherwise received payment (under any insurance policy, Parent’s Articles of Association, the separate deed of
indemnification which Covered Person has with Parent or otherwise) of the amounts otherwise indemnifiable hereunder. 

  
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 14. Assignability; Binding Effect. This Agreement is not assignable by either the
Company or Covered Person without the prior written consent of the other and any attempt to assign this Agreement without such consent shall be void and of no effect. This Agreement shall be binding upon and inure to the benefit of and be
enforceable by the parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business and/or assets of the Company), assigns,
spouses, heirs, and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation, or otherwise) to all, substantially all, or a substantial part, of the business
and/or assets of the Company, by written agreement in form and substance satisfactory to Covered Person, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform
if no such succession had taken place. The indemnification provided under this Agreement shall continue as to Covered Person for any action taken or not taken while serving in an indemnified capacity pertaining to an Indemnifiable Event even though
he may have ceased to serve in such capacity at the time of any Proceeding or is deceased and shall inure to the benefit of the heirs, executors, administrators, legatees and assigns of such a person. 

15. Severability. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to
that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement in any other jurisdiction. If any provision of this Agreement is
so broad as to be unenforceable, such provision shall be interpreted to be only so broadly as is enforceable. 
 16. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware with respect to all other matters, issues and questions, without giving effect to any choice or conflict of law provision or rule
(whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. 

17. Counterparts. This Agreement may be executed in multiple counterparts (any one of which need not contain the signatures of
both the Company and Covered Person), each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. This Agreement, to the extent signed and delivered by means of a facsimile machine or
other electronic transmission, shall be treated in all manner and respects as an original agreement and shall be considered to have the same binding legal effects as if it were the original signed version thereof delivered in person. At the request
of either the Company or Covered Person, the other party shall re-execute original forms thereof and deliver them to the requesting party. Neither the Company nor Covered Person shall raise the use of a facsimile machine or other electronic means to
deliver a signature or the fact that any signature was transmitted or communicated through the use of facsimile machine or other electronic means as a defense to the formation of an agreement and both the Company and Covered Person forever waive any
such defense. 

  
 12 

 18. Notices. All notices, demands, and other communications required or permitted
hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand, against receipt, or mailed, postage prepaid, certified or registered mail, return receipt requested, and addressed to Parent and the Company at:

 Pentair plc 
 Arthur Cox
Building 
 Earlsfort Centre 

Earsfort Terrace 
 Dublin 2 

Ireland 
 Attention: Secretary

 and 
 Pentair Management
Company 
 5500 Wayzata Blvd, Suite 800 

Golden Valley, Minnesota 

Attention: General Counsel 
 And to Covered
Person at: 
 [Name, Address] 
 Notice of
change of address shall be effective only when given in accordance with this Section. All notices complying with this Section shall be deemed to have been received on the date of hand delivery or on the day of actual receipt. 

19. Interpretation. The words “include”, “includes” and “including” shall be deemed to be followed
by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. The word “or” shall be construed to have the same meaning and effect as the
inclusive term “and/or”. The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if”. Unless the context requires
otherwise, (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified
(subject to any restrictions on such amendments, supplements or modifications set forth therein) and (ii) the headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of
this Agreement. 
 [The remainder of page intentionally left blank.] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day
and year first above written. 
  

			
	PENTAIR MANAGEMENT COMPANY
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:
	
	COVERED PERSON
	
	 

  
 14EX-10.1

 Exhibit 10.1 

Execution Version 
 Confidential
portions of this Exhibit marked as [**] have been omitted pursuant to a 
 request for confidential treatment that has been filed separately
with the Securities and Exchange Commission. 
 Amendment to Supply Agreement 

This Amendment to the Supply Agreement (“Amendment”), effective as of May 14, 2014 (the “Amendment Effective
Date”), amends that certain Supply Agreement, dated as of November 1, 2010 (the “Agreement”), by and between Ortho-McNeil-Janssen Pharmaceuticals, Inc., a Pennsylvania corporation ((n/k/a Janssen Pharmaceuticals,
Inc.), “Janssen”) and Watson Laboratories, Inc., a Nevada corporation (“Watson”, and, together with Janssen, the “Parties”). All terms used herein and not defined shall have the meaning set forth in the
Agreement. 
 WHEREAS, the Parties entered into the Agreement to allow Watson to exclusively sell the Products in the Territory in
accordance with the terms set forth therein; and 
 WHEREAS, the Parties have determined to amend the Agreement to extend the term of the
Agreement and the terms of the Purchase Price. 
 NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is
acknowledged herein, the Parties hereby agree as follows: 
  

	 	1.	Section 6.1 of the Agreement is hereby amended and restated in its entirety to read as follows: 

6.1 Term. The term of this Agreement shall commence on the date hereof and remain in effect for each Product
hereunder until December 31, 2017, unless sooner terminated as expressly provided under the terms of this Agreement. 
  

	 	2.	The chart describing the Purchase Price for a given Quarterly Period on Exhibit B of the Agreement is hereby amended and restated in its entirety as follows: 

 

					
	 Quarterly Period
	  	Purchase Price as a Percent of
Purchaser Net Sales	 
		
	 Start Date – June 30, 2011
	  	 	[**]	% 
		
	 July 1, 2011 – September 30, 2011
	  	 	[**]	% 
		
	 October 1, 2011 – December 31, 2011
	  	 	[**]	% 
		
	 January 1, 2012 – March 31, 2012
	  	 	[**]	% 
		
	 April 1, 2012 – December 31, 2014
	  	 	[**]	% 
		
	 January 1, 2015 – December 31, 2017
	  	 	50	% 

	 	3.	For purposes of clarification, the remainder of Exhibit B shall remain unchanged, including the paragraph following the chart describing the Purchase Price and the Minimum Amounts (such Minimum Amounts calculated in
accordance with the terms of the Agreement). 

  

	 	4.	No Other Amendments. This Amendment shall be deemed to be a part of and incorporated into the Agreement. Except as expressly set forth in this Amendment, all of the terms and conditions of the Agreement shall
remain unchanged and are ratified, confirmed in all respects and remain in full force and effect. This Amendment is for the sole benefit of the Parties hereto and nothing herein expressed or implied shall give or be deemed or construed to give to
any other person any legal or equitable rights whatsoever. This Amendment may not be amended and no provision hereof may be waived or modified except in each case by an instrument in writing signed by each of the Parties. 

 

	 	5.	Counterparts. This Amendment may be executed in any number of counterparts, each of which counterparts, when so executed and delivered, shall be deemed an original and all of which counterparts, when taken
together, shall constitute one and the same instrument even if both Parties have not executed the same counterpart. Delivery of an executed counterpart of a signature page of this Amendment by facsimile transmission or other customary means of
electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, the Parties hereto have entered into this Amendment by their duly authorized
representatives as of Amendment Effective Date. 
  

			
	JANSSEN PHARMACEUTICALS, INC.
	(formerly Ortho-McNeil-Janssen Pharmaceuticals, Inc.)
	
	 /s/ Calvin Schmidt

	Name:	 	Calvin Schmidt
	Title:	 	President, Internal Medicine
	
	WATSON LABORATORIES, INC.
	
	 /s/ R. Todd Joyce

	Name:	 	R. Todd Joyce
	Title:	 	Chief Financial Officer

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