Document:

EX-10.1

 Exhibit 10.1 

EMPLOYEE MATTERS AGREEMENT 

by and between 
 DOVER
CORPORATION 
 and 

KNOWLES CORPORATION 

Dated as of February 28, 2014 

 EMPLOYEE MATTERS AGREEMENT 

THIS EMPLOYEE MATTERS AGREEMENT (this “Agreement”), is entered into as of February 28, 2014, by and between Dover Corporation,
a Delaware corporation (“Dover”), and Knowles Corporation, a Delaware corporation (“Knowles” and together with Dover, the “Parties” and each a “Party”). 

WHEREAS, the board of directors of Dover has determined that it is in the best interests of Dover and its shareholders to create a new
publicly traded company which shall operate the Knowles Business; 
 WHEREAS, in furtherance thereof Dover and Knowles have entered into
that certain Separation and Distribution Agreement dated February 28, 2014 (the “Separation Agreement”); and 
 WHEREAS, as
contemplated by the Separation Agreement, Dover and Knowles desire to enter into this Agreement to provide for the allocation of Assets, Liabilities, and responsibilities with respect to certain matters relating to employees (including employee
compensation and benefit plans and programs) between them. 
 NOW, THEREFORE, the Parties, intending to be legally bound, agree as follows:

 ARTICLE I 

DEFINITIONS 

Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Separation Agreement. For purposes of this
Agreement the following terms shall have the following meanings: 
 1.1 “Adjusted Dover Option” shall have the meaning set forth in
Section 5.2(a). 
 1.2 “Adjusted Dover RSU” shall have the meaning set forth in Section 5.3(a). 

1.3 “Adjusted Stock Appreciation Right” shall have the meaning set forth in Section 5.2(a). 

1.4 “Assets” shall have the meaning set forth in the Separation Agreement. 

1.5 “COBRA” means the continuation coverage requirements for “group health plans” under Title X of the Consolidated Omnibus
Budget Reconciliation Act of 1985, as amended, and as codified in Code Section 4980B and ERISA Sections 601 through 608. 
 1.6
“Code” means the Internal Revenue Code of 1986, as amended, or any successor federal income tax law. Reference to a specific Code provision also includes any proposed, temporary, or final regulation in force under that provision. 

 1.7 “Distribution Date” shall have the meaning set forth in the Separation Agreement.

 1.8 “Dover 401(k) Plan” means the Dover Corporation Retirement Savings Plan. 

1.9 “Dover Deferred Compensation Plan” means the Dover Corporation Deferred Compensation Plan, as amended and restated as of
January 1, 2009. 
 1.10 “Dover Employee” means (i) any individual who, as of the applicable date of determination, is
either actively employed by or then on a leave of absence from any member of the Dover Group (including maternity, paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment
and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves), but does not include any Knowles Employee or (ii) any individual who is deemed to be a Dover Employee pursuant to Section 2.3 of
this Agreement. 
 1.11 “Dover Equity-Based Plans” means the 2012 Equity and Cash Incentive Plan, the 2005 Equity and Cash
Incentive Plan, and the 1995 Incentive Stock Options Plan, each as amended from time to time. 
 1.12 “Dover Group” shall have the
meaning set forth in the Separation Agreement. 
 1.13 “Dover Participant” means any individual who is a Dover Employee, a Former
Dover Employee or a beneficiary, dependent, alternate payee or other person participating in a Dover Plan in respect of either of the foregoing. 

1.14 “Dover Pension Replacement Plan” means the Dover Corporation Pension Replacement Plan, as amended and restated as of
January 1, 2010. 
 1.15 “Dover Ratio” shall have the meaning set forth in Section 5.2(a)(i). 

1.16 “Dover Technologies International, Inc. Supplemental Executive Retirement Plan” means the Dover Technologies International, Inc.
Supplemental Executive Retirement Plan effective as of January 1, 1995. 
 1.17 “Dover U.S. Pension Plan” means the Dover
Corporation Pension Plan, a United States defined benefit pension plan. 
 1.18 “Effective Time” means the time at which the
Distribution (as defined in the Separation Agreement) is effective on the Distribution Date. 
 1.19 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended. Reference to a specific provision of ERISA also includes any proposed, temporary, or final regulation in force under that provision. 

1.20 “Former Dover Employee” means, as of the applicable date of determination, any individual whose employment with either Party or
any of its respective Subsidiaries and Affiliates terminated for any reason before such applicable date, other than a Former Knowles Employee. 

  
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 1.21 “Former Employee” means any individual who is a Former Dover Employee or a Former
Knowles Employee. 
 1.22 “Former Knowles Employee” means, as of the applicable date of determination, any individual whose
employment with either Party or any of its respective Subsidiaries and Affiliates terminated for any reason before such applicable date, and who primarily worked for a Knowles Business at the time of his or her termination of employment. 

1.23 “Health and Welfare Plans,” when immediately preceded by “Dover,” means the health and welfare plans established and
sponsored by any member of the Dover Group, and when immediately preceded by “Knowles,” means the health and welfare plans sponsored and maintained by any member of the Knowles Group before or after the Plan Separation Date, in each case
excluding any governmental plans. 
 1.24 “HIPAA” means the health insurance portability and accountability requirements for
“group health plans” under the Health Insurance Portability and Accountability Act of 1996, as amended. 
 1.25 “Incentive
Stock Option” means an option which qualifies as an incentive stock option under the provisions of Section 422 of the Code. 
 1.26
“Individual Agreement” means an individual employment Contract entered into between a member of the Dover Group and a Knowles Employee. 

1.27 “Knowles 401(k) Plan” means the Knowles Corporation 401(k) Plan, a tax-qualified 401(k) defined contribution savings plan to be
established by a member of the Knowles Group prior to the Plan Separation Date. 
 1.28 “Knowles Employee” means (i) any
individual who, as of the applicable date of determination, is either actively employed by or then on a leave of absence from any member of the Knowles Group (including maternity, paternity, family, sick, short-term or long-term disability leave,
qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves) or (ii) any individual who is deemed to be a Knowles Employee
pursuant to Section 2.2 of this Agreement. 
 1.29 “Knowles Group” shall have the meaning set forth in the Separation
Agreement. 
 1.30 “Knowles Long Term Incentive Plan” means the Knowles Corporation 2014 Equity and Cash Incentive Plan adopted by
Knowles prior to the Effective Time. 
 1.31 “Knowles Participant” means any individual who is a Knowles Employee, a Former Knowles
Employee, a member of or other participant in a Knowles Plan, or a beneficiary, dependent, alternate payee or other person participating in a Knowles Plan in respect of the foregoing persons. 

  
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 1.32 “Knowles Ratio” shall have the meaning set forth in Section 5.2(b)(i). 

1.33 “Liabilities” shall have the meaning set forth in the Separation Agreement. 

1.34 “Local Agreement” means any local transfer agreement that provides for the transfer of Assets and the assumption of Liabilities
relating to, arising out of or resulting from the transactions contemplated by the Separation Agreement. 
 1.35 “Option” when
immediately preceded by “Dover,” means an option (either nonqualified or an Incentive Stock Option) to purchase shares of Dover Common Stock pursuant to a Dover Equity-Based Plan and, when immediately preceded by “Knowles,” means
an option to purchase shares of Knowles Common Stock, which option is granted pursuant to the Knowles Long Term Incentive Plan as set forth in Section 5.2. 

1.36 “Participating Company” means (a) Dover, (b) any Person (other than an individual) that Dover has approved for
participation in, and which is a participating employer in, a Plan and (c) any Person (other than an individual) which, by the terms of such a Plan, is a participating employer in such Plan. 

1.37 “Plan,” when immediately preceded by “Dover,” means any plan, policy, program, payroll practice, on-going arrangement,
Contract, trust, insurance policy or other agreement or funding vehicle (including a Health and Welfare Plan) for which the eligible classes of participants include employees or former employees (and their eligible dependents) of a member of the
Dover Group or, prior to the Plan Separation Date only, a member of the Knowles Group, and when immediately preceded by “Knowles,” means any plan, policy, program, payroll practice, on-going arrangement, Contract, trust, insurance policy
or other agreement or funding vehicle (including a Health and Welfare Plan) which is sponsored by the members of the Knowles Group or for which the eligible classes of participants include employees or former employees (and their eligible
dependents) of members of the Knowles Group. 
 1.38 “Plan Separation Date” means December 31, 2013, or such other date as
determined by Dover. 
 1.39 “Post-Distribution Price” with respect to a share of common stock, means the average closing price for
such common stock for the five (5) consecutive trading days immediately following the Distribution Date. 
 1.40 “Pre-Distribution
Price” with respect to a share of common stock, means the average closing price for such common stock trading on the “regular way” basis on the New York Stock Exchange for the five (5) consecutive trading days immediately
preceding (and including) the Distribution Date. 
 1.41 “Restricted Stock Unit,” when immediately preceded by “Dover,”
means a unit granted or provided by Dover pursuant to a Dover Equity-Based Plan or the Dover Deferred Compensation Plan, representing a general unsecured promise by Dover to deliver a share (or cash in respect of a share) of Dover Common Stock, and
when immediately preceded by “Knowles,” means a unit granted by Knowles representing a general unsecured promise by Knowles to deliver a share of Knowles Common Stock, which unit is granted pursuant to the Knowles Long Term Incentive Plan
as set forth in Section 5.3. 

  
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 1.42 “Stock Appreciation Right,” when immediately preceded by “Dover,” means
a right to receive a payment in shares of Dover Common Stock equal in value to the increase in value in shares of Dover Common Stock over a designated strike price pursuant to a Dover Equity-Based Plan and, when immediately preceded by
“Knowles,” means a right to receive a payment in shares of Knowles Common Stock equal in value to the increase in value in shares of Knowles Common Stock over a designated strike price, which right is granted pursuant to the Knowles Long
Term Incentive Plan as set forth in Section 5.2. 
 ARTICLE II 

TRANSFER OF KNOWLES EMPLOYEES; GENERAL PRINCIPLES 

2.1 In General. All provisions herein shall be subject to the requirements of all applicable Law and any collective bargaining, works
council or similar Contract or arrangement with any labor union. The provisions of this Agreement shall apply in respect of all jurisdictions wherever situated in accordance with applicable Law. Notwithstanding the immediately preceding sentence, to
the extent the provisions of this Agreement conflict with the provisions of a Local Agreement or, in respect of jurisdictions outside of the United States, with the terms of an offer letter or other Contract entered into with a Knowles Employee or a
Dover Employee, the terms of such Local Agreement, offer letter or other Contract shall govern. 
 2.2 Transfer of Employment of Certain
Knowles Employees. Dover and Knowles will use reasonable efforts to cause the employment of any individual who Dover designates as a Knowles Employee and who is not employed by the Knowles Group as of the Plan Separation Date to be transferred
to the Knowles Group prior to the Effective Time. Each such individual shall be deemed to be a Knowles Employee and the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the compensation and
benefits of such individuals following such transfer. 
 2.3 Transfer of Employment of Certain Dover Employees. Dover and Knowles will
use reasonable efforts to cause the employment of any individual who Dover designates as a Dover Employee and who is not employed by the Dover Group as of the Plan Separation Date to be transferred to the Dover Group prior to the Effective Time.
Each such individual shall be deemed to be a Dover Employee and the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the compensation and benefits of such individuals following such transfer. 

2.4 Assumption and Retention of Liabilities. 

(a) Dover and Knowles intend that all employment, compensation and employee benefits-related Liabilities associated with Knowles Participants
are to be assumed by Knowles or another member of the Knowles Group, except as specifically set forth herein. Except as expressly provided in this Agreement, as of the Effective Time, Knowles or another member of the Knowles Group hereby retains or
assumes and agrees to pay, perform, fulfill, and 

  
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discharge the following Liabilities, in all events whether arising prior to, on or following the Effective Time: (i) all Liabilities arising under or related to Knowles Plans, (ii) all
employment, compensation, employee benefits or service-related Liabilities with respect to (A) all Knowles Participants, and (B) any individual who is, or was, an independent contractor, temporary employee, temporary service worker,
consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other employment or similar relationship primarily connected to a member of the Knowles Group, (iii) all Liabilities
retained or assumed by Knowles or a member of the Knowles Group pursuant to the terms of the Local Agreements and (iv) all Liabilities expressly transferred to a member of the Knowles Group under this Agreement. 

(b) Dover and Knowles intend that all employment, compensation and employee benefits-related Liabilities associated with Dover Participants are
to be assumed by Dover or another member of the Dover Group, except as specifically set forth herein. Except as expressly provided in this Agreement, as of the Effective Time, Dover or another member of the Dover Group hereby retains or assumes and
agrees to pay, perform, fulfill, and discharge the following Liabilities, in all events whether arising prior to, on or following the Effective Time: (i) all Liabilities arising under or related to Dover Plans, (ii) all employment,
compensation, employee benefits, or service-related Liabilities with respect to (A) all Dover Participants as of the Effective Time and (B) any individual who is or was, an independent contractor, temporary employee, temporary service
worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other employment or similar relationship primarily connected to a member of the Dover Group, (iii) all
Liabilities retained or assumed by Dover or a member of the Dover Group pursuant to the terms of the Local Agreements and (iv) all Liabilities expressly transferred to a member of the Dover Group under this Agreement. 

(c) All Liabilities retained or assumed by or allocated to (i) Knowles or any member of the Knowles Group pursuant to this Agreement shall
be deemed to be Knowles Liabilities for purposes of Article VIII (and related sections) of the Separation Agreement and (ii) Dover or any member of the Dover Group pursuant to this Agreement shall be deemed to be Dover Liabilities for purposes
of Article VIII (and related sections) of the Separation Agreement. 
 2.5 Assumption of Employee Liabilities. Knowles shall assume
and be solely responsible for the administration of severance, indemnity or other termination pay or other similar benefits in accordance with the terms and conditions of the applicable severance plan or policy in effect as of the date of the
applicable termination of employment (i) relating to or resulting from (A) the Knowles Group’s failure to offer employment to any Knowles Employee (or failure to continue the employment of any Knowles Employee following the Plan
Separation Date), (B) the Knowles Group’s failure to offer or continue employment on terms and conditions which would preclude any claims of constructive dismissal or similar claims under any applicable Law or (C) any failure by the
Knowles Group to comply with the terms of this Agreement prior to the Effective Date or (ii) where such severance, indemnity or termination pay or other benefits are required to be paid under applicable Law or a Plan upon the applicable date of
the employee’s transfer without regard to such terms and conditions or such continuation of employment. 

  
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 2.6 Cessation as Participating Companies. Effective as of the Plan Separation Date,
(i) each member of the Knowles Group shall have ceased to be Participating Companies in any Dover Plan, (ii) each member of the Dover Group shall have ceased to be Participating Companies in any Knowles Plan and (iii) Dover and
Knowles shall have taken all necessary action to effectuate such cessations as Participating Companies. 
 2.7 No Duplication of Benefits;
Service and Other Credit. Dover and Knowles shall have adopted, or caused to have been adopted, all reasonable and necessary amendments and procedures to prevent Knowles Participants from receiving duplicative benefits from the Dover Plans and
the Knowles Plans. With respect to Knowles Participants, each Knowles Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to benefits (but not for accrual of pension benefits under any defined
benefit pension plan), service prior to the Plan Separation Date with a member of the Dover Group shall be treated as service with a member of the Knowles Group. The Parties shall use their reasonable efforts so that such service also shall apply
for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting condition limitations under any Knowles Plan. Each Knowles Plan shall, to the extent practicable, waive pre-existing
condition limitations with respect to Knowles Participants. Knowles shall use reasonable efforts to honor any deductible, co-payment and out-of-pocket maximums incurred by the Knowles Participants under the Dover Plans in which they participated
immediately prior to the Plan Separation Date, if any, in satisfying any deductibles, co-payments or out-of-pocket maximums under the Knowles Plans in which they are eligible to participate after the Plan Separation Date in the same plan year in
which any such deductibles, co-payments or out-of-pocket maximums were incurred. 
 2.8 Reimbursements. From time to time after the
Effective Time, the Parties shall promptly reimburse one another, upon reasonable request of the Party requesting reimbursement and the presentation by such Party of such substantiating documentation as the other Party shall reasonably request, for
the cost of any Liabilities satisfied or assumed by the Party requesting reimbursement or its Affiliates that are made, pursuant to this Agreement, the responsibility of the other Party or any of its Affiliates. 

2.9 Labor Relations. To the extent required by applicable Law or any Contract or arrangement with a labor union, works council or
similar employee organization, Knowles shall provide notice, engage in consultation and take any similar action which may be required on its part in connection with the Distribution and shall fully indemnify each member of the Dover Group against
any Liabilities arising from its failure to comply with such requirements. 
 ARTICLE III 

DEFINED CONTRIBUTION, DEFINED BENEFIT AND NON-QUALIFIED DEFERRED 

COMPENSATION PLANS IN THE UNITED STATES  

3.1 Defined Contribution Plan. 

(a) Establishment of Plan and Trust. Prior to the Plan Separation Date, Dover and Knowles shall have adopted, or caused to have been
adopted, the Knowles 401(k) Plan and any trust agreements or other plan documents reasonably necessary and shall have caused trustees to be appointed for such plan. 

  
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 (b) Assumption of Liabilities and Transfer of Assets. In accordance with applicable Law,
Dover and Knowles shall have caused, in the manner described herein, the accounts under the Dover 401(k) Plan of each Knowles Employee to be transferred to the Knowles 401(k) Plan as of the Plan Separation Date or as soon as practicable thereafter.
As of the Plan Separation Date: (i) Dover shall have used reasonable efforts to cause the accounts (including any outstanding loan balances) of each Knowles Employee as of such date and in the Dover 401(k) Plan to be transferred to the Knowles
401(k) Plan and its related trust; (ii) the Knowles 401(k) Plan shall have used reasonable efforts to assume and be solely responsible for all Liabilities under the Knowles 401(k) Plan relating to the accounts that are so transferred as of the
time of such transfer; and (iii) Knowles shall have used reasonable efforts to cause such transferred accounts to be accepted by the Knowles 401(k) Plan and its related trust and shall have caused the Knowles 401(k) Plan to satisfy all
protected benefit requirements under the Code and applicable Law with respect to the transferred accounts. 
 (c) Service Credit. In
determining whether a Knowles Employee is vested in his or her account under the Knowles 401(k) Plan, the Knowles 401(k) Plan shall have credited each Knowles Employee with all the individual’s service credited under the Dover 401(k) Plan. 

(d) Employer Securities. Dover and Knowles each presently intend to preserve the right of Dover Participants and Knowles Participants to
receive distributions in kind of employer securities from, respectively, the Dover 401(k) Plan and the Knowles 401(k) Plan, if, and to the extent, investments under such plans are comprised of Knowles Common Stock or Dover Common Stock;
provided, that, Dover shall cause the Dover 401(k) Plan to provide that, no later than eighteen (18) months following the Distribution Date, the Dover 401(k) Plan shall hold no separate investment fund comprised of Knowles Common
Stock and Knowles shall cause the Knowles 401(k) Plan to provide that, no later than eighteen (18) months following the Distribution Date, the Knowles 401(k) Plan shall not hold a separate investment fund comprised of Dover Common Stock. Each
of Knowles and Dover shall authorize the appropriate plan fiduciary to determine, in its discretion, the extent to which and when Dover Common Stock (in the case of the Knowles 401(k) Plan) and Knowles Common Stock (in the case of the Dover 401(k)
Plan) shall cease to be investment alternatives thereunder. 
 3.2 U.S. Defined Benefit Pension Plan. Dover shall retain and be
solely responsible for all Liabilities and obligations with respect to Knowles Participants under the Dover U.S. Pension Plan, and accordingly there shall be no transfer of Assets or Liabilities among Dover, Knowles, any of their Affiliates or their
respective plans in respect of the Dover U.S. Pension Plan. No Knowles Participant shall accrue any additional benefits under the Dover U.S. Pension Plan following the Plan Separation Date. Effective as of the Plan Separation Date, each Knowles
Participant who participates in the Dover U.S. Pension Plan shall become 100% vested in all benefits provided under such plan. 

  
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 3.3 Non-Qualified Deferred Compensation Plans. No Knowles Participant shall accrue any
additional benefits under the Dover Pension Replacement Plan, defer any compensation under the Dover Deferred Compensation Plan, or be credited with any additional supplemental accruals under the Dover Technologies International, Inc. Supplemental
Executive Retirement Plan, in each case, attributable to services performed on or after January 1, 2014. For the avoidance of doubt, the account balance of each Knowles Participant under the Dover Deferred Compensation Plan shall continue to
change based on the Knowles Participant’s individual investment elections. Effective as of the Plan Separation Date, Knowles shall assume all Dover Pension Replacement Plan Liabilities, the Dover Deferred Compensation Plan Liabilities, and the
Dover Technologies International, Inc. Supplemental Executive Retirement Plan Liabilities with respect to each Knowles Employee who participates in such plans. The treatment of benefits under each nonqualified deferred compensation plan shall comply
with Section 409A of the Code, to the extent subject thereto. 
 ARTICLE IV 

HEALTH AND WELFARE PLANS 

4.1 Cessation of Participation in Dover Health and Welfare Plans. Prior to the Plan Separation Date, Dover shall have caused Knowles to
establish Knowles Health and Welfare Plans which generally correspond to the Dover Health and Welfare Plans which provide group health, life, dental, accidental death and dismemberment, health care reimbursements, dependent care assistance and
disability benefits in which certain Knowles Participants participated immediately prior to the Plan Separation Date. As of the Plan Separation Date, such Knowles Participants shall have ceased to participate in the Dover Health and Welfare Plans in
which they participated and shall have commenced participation in the corresponding Knowles Health and Welfare Plan. Knowles shall have caused those Knowles Participants who participate in Dover Health and Welfare Plans immediately before the Plan
Separation Date to be automatically enrolled as of the Plan Separation Date in Knowles Health and Welfare Plans corresponding to the Dover Health and Welfare Plans in which such Knowles Participants participated immediately before the Plan
Separation Date. The transfer of employment from a member of the Dover Group to a member of the Knowles Group prior to or as of the Effective Time shall not be treated as a “status change” with respect to any Knowles Employee under the
Dover Health and Welfare Plans or the Knowles Health and Welfare Plans. 
 4.2 Allocation of Health and Welfare Plan Liabilities.

 (a) Except as set forth in Section 4.2(b), Dover shall retain and be solely responsible for all outstanding Liabilities relating to,
arising out of, or resulting from health and welfare coverage or claims incurred by Knowles Participants under the Dover Health and Welfare Plans on or before the Plan Separation Date. 

(b) Knowles shall assume and be solely responsible for any outstanding Liabilities relating to, arising out of, or resulting from short-term
disability coverage for Knowles Participants under the Dover Health and Welfare Plans on or before the Plan Separation Date. 
 4.3
Flexible Spending Plan Treatment in the United States. Prior to the Plan Separation Date, Dover shall have caused Knowles to establish a dependent care spending account and a medical care spending account under a cafeteria plan meeting the
requirements of Section 125 of the Code (the “Knowles FSAs”) effective as of the Plan Separation Date, which 

  
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Knowles FSAs have terms that are substantially identical to the analogous Dover cafeteria plan, dependent care and medical care flexible spending accounts (the “Dover FSAs”) as
in effect immediately prior to the Plan Separation Date. Knowles and Dover shall have taken all steps necessary or appropriate so that the account balances (if any) under the Dover FSAs of each Knowles Employee who elected to participate therein
shall have been transferred, as soon as practicable after the Plan Separation Date from the Dover FSAs to the corresponding Knowles FSAs. The Knowles FSAs shall have assumed responsibility as of the Plan Separation Date for all outstanding dependent
care and medical care claims under the Dover FSAs of each Knowles Employee and shall have assumed and agreed to perform the obligations from and after the Plan Separation Date. Knowles shall have taken all steps necessary or appropriate so that the
contribution elections of each such Knowles Employee as in effect immediately before the Plan Separation Date (if any) remain in effect under the Knowles FSAs following the Plan Separation Date. As soon as practicable after the Plan Separation Date,
Dover shall have transferred to Knowles an amount equal to the total contributions made to the Dover FSAs by Knowles Employees in respect of the plan year in which the Effective Time occurs, reduced by an amount equal to the total claims already
paid to Knowles in respect of such plan year, if any. From and after the Plan Separation Date, Dover shall provide Knowles with such information such entity may reasonably request to enable it to verify any claims information pertaining to a Dover
FSA. 
 4.4 Workers’ Compensation Liabilities. All workers’ compensation Liabilities relating to, arising out of, or
resulting from any claim by Knowles Employees or Former Knowles Employees that result from an accident or from an occupational disease which is incurred or becomes manifest, as the case may be, on or before the Effective Time and while such
individual was employed by either Party or its respective Affiliates or Subsidiaries shall be assumed, or retained as the case may be, by Knowles as of the Effective Time. Each member of the Knowles Group shall also be solely responsible for all
workers’ compensation Liabilities relating to, arising out of, or resulting from any claim incurred for a compensable injury sustained by a Knowles Employee or Former Knowles Employee that results from an accident or from an occupational
disease which is incurred or becomes manifest, as the case may be, after the Effective Time. Each member of the Dover Group and the Knowles Group shall cooperate with respect to any notification to appropriate governmental agencies of the
disposition and the issuance of new, or the transfer of existing, workers’ compensation insurance policies and claims handling contracts. 

4.5 Payroll Taxes and Reporting. Dover and Knowles shall, to the extent practicable, (i) treat Knowles (or a member of the Knowles
Group designated by Knowles) as a “successor employer” and Dover (or the appropriate member of the Dover Group) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Knowles
Employees for purposes of Taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each other to avoid, to the extent possible, the filing of more than
one IRS Form W-2 with respect to each Knowles Employee for the year in which the Effective Time occurs. Without limiting in any manner the obligations and Liabilities of the Parties under the Tax Matters Agreement, each member of the Dover Group and
each member of the Knowles Group shall each bear its responsibility for payroll Tax obligations and for the proper reporting to the appropriate Governmental Entities of compensation earned by their respective employees after the Effective Time,
including compensation related to the exercise of Options or the vesting or exercise of other equity awards. 

  
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 4.6 COBRA and HIPAA Compliance in the United States. As of the Plan Separation Date,
Knowles shall have assumed and be responsible for administering compliance with the health care continuation requirements of COBRA and the certificate of creditable coverage requirements of HIPAA, in accordance with the provisions of the Knowles
Health and Welfare Plans, with respect to Knowles Participants who incurred a COBRA qualifying event or loss of coverage under the Dover Health and Welfare Plans at any time on or before the Plan Separation Date. Knowles shall also be responsible
for administering compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the Knowles Health and Welfare Plans with respect to Knowles
Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the Knowles Health and Welfare Plans at any time after the Plan Separation Date. 

4.7 Vacation and Paid Time Off. As of the Plan Separation Date, the applicable member of the Knowles Group shall have credited each
Knowles Employee with the unused vacation days and personal and sickness days that such individual has accrued immediately prior to the Plan Separation Date (not previously paid or required to be paid) in accordance with the vacation and personnel
policies applicable to such employee immediately prior to the Plan Separation Date. 
 ARTICLE V 

INCENTIVE COMPENSATION, EQUITY COMPENSATION AND OTHER BENEFITS 

5.1 Cash-Based Incentives. 

(a) Annual Cash Incentives and Commissions. At the regularly scheduled payment date, Knowles shall pay each Knowles Employee, and Dover
shall pay each Dover Employee, who is participating in an annual cash incentive bonus or commission program of a member of the Dover Group such Knowles Employee’s and such Dover Employee’s (as applicable) annual incentive bonus or
commission under the applicable plan, based on actual performance for 2013. 
 (b) 2013 Long-term Cash Incentives. At the regularly
scheduled payment date, Knowles shall pay each Knowles Employee, and Dover shall pay each Dover Employee, who is participating in Dover’s long-term cash incentive program that relates to a performance period ending on or before
December 31, 2013 such Knowles Employee’s and such Dover Employee’s (as applicable) incentive award under such program, based on actual performance. 

(c) Long-term Cash Incentives. Each Dover long-term cash incentive award that is held by a Knowles Employee with a performance period
that extends beyond the Effective Time will be canceled and forfeited as of the Effective Time. 

  
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 5.2 Stock Options and Stock Appreciation Rights. 

(a) Dover Options and Stock Appreciation Rights. Each Dover Option and Dover Stock Appreciation Right that is outstanding immediately
prior to the Effective Time and that is held by a Dover Employee or a Former Employee shall be adjusted as of the Effective Time (and shall thereafter be referred to as an “Adjusted Dover Option” or “Adjusted Stock
Appreciation Right”) as follows: 
 (i) The number of shares of Dover Common Stock subject to each Adjusted Dover
Option and each Adjusted Stock Appreciation Right shall be equal to the product (rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover Option or
Dover Stock Appreciation Right immediately prior to the Effective Time and (B) a fraction, the numerator of which is the Pre-Distribution Price of a share of Dover Common Stock and the denominator which is the Post-Distribution Price of a share
of Dover Common Stock (such fraction, the “Dover Ratio”). 
 (ii) The exercise price per share for each
Adjusted Dover Option and the base price per share for each Adjusted Stock Appreciation Right shall be equal to (rounded up to the nearest whole cent) (A) the exercise price or base price (as the case may be) of the corresponding Dover Option
or Dover Stock Appreciation Right immediately prior to the Effective Time divided by (B) the Dover Ratio. 
 (iii) Each
Adjusted Dover Option and Adjusted Stock Appreciation Right shall otherwise be subject to the same terms, vesting conditions, exercise procedures, expiration dates and termination provisions and other terms and conditions as were in effect
immediately prior to the Effective Time for the corresponding Dover Option and Dover Stock Appreciation Right. 
 (b) Knowles Options and
Stock Appreciation Rights. Each Dover Option and Dover Stock Appreciation Right that is outstanding immediately prior to the Effective Time and that is held by a Knowles Employee shall, as of the Effective Time, be cancelled and immediately
replaced with a Knowles Option or a Knowles Stock Appreciation Right (as applicable) as follows: 
 (i) The number of shares
of Knowles Common Stock subject to each Knowles Option and each Knowles Stock Appreciation Right shall be equal to the product (rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock
subject to the corresponding Dover Option or Dover Stock Appreciation Right immediately prior to the Effective Time and (B) a fraction, the numerator of which is the Pre-Distribution Price of a share of Dover Common Stock and the denominator of
which is the Post-Distribution Price of a share of Knowles Common Stock (such fraction, the “Knowles Ratio”). 

(ii) The exercise price per share for each Knowles Option and base price per share for each Knowles Stock Appreciation Right
shall be equal to (rounded up to the nearest whole cent) (A) the exercise price or base price (as the case may be) of the corresponding Dover Option or Dover Stock Appreciation Right immediately prior to the Effective Time divided by
(B) the Knowles Ratio. 

  
 12 

 (iii) Each Knowles Option and Knowles Stock Appreciation Right shall otherwise be
subject to the same terms, vesting conditions, exercise procedures, expiration dates and termination provisions and other terms and conditions as were in effect immediately prior to the Effective Time for the corresponding Dover Option and Dover
Stock Appreciation Right. With respect to each Knowles Option and Knowles Stock Appreciation Right, Knowles shall give each Knowles Employee full service credit for such Knowles Employee’s service with either Party or any of its respective
Subsidiaries or Affiliates prior to the Effective Time to the same extent such service was recognized with respect to the corresponding Dover Option or Dover Stock Appreciation Right immediately prior to the Effective Time. 

5.3 Restricted Stock Units.  

(a) Dover Restricted Stock Units. Each Dover Restricted Stock Unit that is outstanding immediately prior to the Effective Time and that
is held by a Dover Employee, a Former Employee or a non-employee director shall be adjusted as of the Effective Time (and shall thereafter be referred to as an “Adjusted Dover RSU”) as follows: 

(i) the number of shares of Dover Common Stock subject to each Adjusted Dover RSU shall be equal to the product (rounded down
to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover Restricted Stock Unit immediately prior to the Effective Time and (B) the Dover Ratio. 

(ii) Each Adjusted Dover RSU shall be subject to the same terms, vesting conditions, issuance dates and method of distribution
and other terms and conditions as were in effect immediately prior to the Effective Time for the corresponding Dover Restricted Stock Unit. 

(iii) Notwithstanding the foregoing, the Compensation Committee of the Dover Board of Directors shall adjust the
performance-vesting requirements for any performance-based Adjusted Dover RSUs, in order to reflect the impact of the Distribution upon the performance goals previously established for such units or awards. 

(b) Knowles Restricted Stock Units. Each Dover Restricted Stock Unit that is outstanding immediately prior to the Effective Time and
that is held by a Knowles Employee shall, as of the Effective Time, be cancelled and immediately replaced with a Knowles Restricted Stock Unit, as follows: 

(i) The number of shares of Knowles Common Stock subject to each Knowles Restricted Stock Unit shall be equal to the product
(rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover Restricted Stock Unit immediately prior to the Effective Time and (B) the Knowles Ratio.

  
 13 

 (ii) With respect to any performance-based Dover Restricted Stock Units that
relate to a performance period ending after the Effective Time, such Dover Restricted Stock Units shall be replaced with a number of time-based Knowles Restricted Stock Units as calculated pursuant to Section 5.3(b)(i), based on the number of
shares of Dover Common Stock that would be payable upon the settlement of such units upon target-level achievement of the performance goals (and any units not subject to conversion will be forfeited). 

(iii) Except as provided in Section 5.3(b)(ii), each Knowles Restricted Stock Unit shall be subject to the same terms,
vesting conditions, issuance dates and method of distribution and other terms and conditions that were in effect immediately prior to the Effective Time for the corresponding Dover Restricted Stock Unit. With respect to each Knowles Restricted Stock
Unit, Knowles shall give each Knowles Employee full service credit for such Knowles Employee’s service with either Party or any of its respective Subsidiaries or Affiliates prior to the Effective Time to the same extent such service was
recognized with respect to the corresponding Dover Restricted Stock Unit immediately prior to the Effective Time. 
 5.4 General. All
of the adjustments described in this Article 5 shall be effected in accordance with Sections 424 and 409A of the Code, to the extent subject thereto. 

5.5 Non-US Grants/Awards. In making the adjustments as described in this Article 5, the Parties shall use commercially reasonable
efforts to preserve, at and after the Effective Time, the value and tax treatment accorded each equity award granted to non-U.S. employees under the Dover Equity-Based Plans. 

5.6 Approval of Plan. Prior to the Effective Time, Dover shall cause Knowles to adopt the Knowles Long Term Incentive Plan. 

5.7 Administration. Each of Dover and Knowles shall establish an appropriate administration system in order to handle exercises
and delivery of shares in an orderly manner and provide reasonable levels of service for equity award holders. 
 5.8 Registration.
The Parties shall use commercially reasonable efforts to maintain effective registration statements with the Commission with respect to the awards described in this Article 5, to the extent any such registration statement is required by applicable
Law. 
 5.9 No Effect on Subsequent Awards. The provisions of this Article 5 shall have no effect on the terms and conditions of
equity and equity-based awards granted following the Distribution Date by Dover or Knowles. 
 5.10 Individual Agreements. Except for
the Individual Agreements set forth on Schedule A, attached hereto, as of the Plan Separation Date, Knowles shall, or shall cause a member of the Knowles Group to assume, and shall thereafter perform, each Individual Agreement with a Knowles
Employee, or if such assumption cannot be effected, Knowles shall use its reasonable best efforts to enter into a successor agreement with the Knowles Employee providing substantially identical terms and conditions of employment. 

  
 14 

 ARTICLE VI  

GENERAL AND ADMINISTRATIVE 

6.1 Sharing of Participant Information. To the maximum extent permitted under applicable Law, Dover and Knowles shall share, and shall
cause the members of its respective Group to share, with each other and their respective agents and vendors all participant information reasonably necessary for the efficient and accurate administration of each of the Dover Plans and the Knowles
Plans. Dover and Knowles and their respective authorized agents shall, subject to applicable laws on confidentiality, be given reasonable and timely access to, and may make copies of, all information relating to the subjects of this Agreement in the
custody of the other Party or any member of its Group, to the extent necessary for such administration. Until the Plan Separation Date, all participant information shall be provided in the manner and medium applicable to Participating Companies in
the Dover Plans generally, and thereafter until the time at which the Parties subsequently determine, all participant information shall be provided in a manner and medium that are compatible with the data processing systems of Dover as in effect as
of the Plan Separation Date, unless otherwise agreed to by Dover and Knowles. 
 6.2 Non-Termination of Employment; No Third Party
Beneficiaries. No provision of this Agreement or the Separation Agreement shall be construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any future, present, or former employee of a
member of the Dover Group or the Knowles Group under any Dover Plan or Knowles Plan or otherwise. Except as expressly provided in this Agreement, nothing in this Agreement shall preclude any member of the Knowles Group, at any time after the
Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Knowles Plan, any benefit under any Knowles Plan or any trust, insurance policy or funding vehicle related to any Knowles
Plan; and except as expressly provided in this Agreement, nothing in this Agreement shall preclude any member of the Dover Group, at any time after the Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or
otherwise altering in any respect any Dover Plan, any benefit under any Dover Plan or any trust, insurance policy or funding vehicle related to any Dover Plan. 

6.3 Audit Rights with Respect to Information Provided. Each of Dover and Knowles, and their duly authorized representatives, shall have
the right to conduct reasonable audits with respect to all information provided to it by the other Party. The Parties shall cooperate to determine the procedures and guidelines for conducting audits under this Section 6.3, which shall require
reasonable advance notice by the auditing party. The auditing Party shall have the right to make copies of any records at its expense, subject to applicable Law. 

6.4 Fiduciary Matters. Dover and Knowles each acknowledge that actions required to be taken pursuant to this Agreement may be subject to
fiduciary duties or standards of conduct under ERISA or other applicable Law, and no Party shall be deemed to be in violation of this Agreement if it fails to comply with any provisions hereof based upon its good faith determination (as supported by
advice from counsel experienced in such matters) that to do so would violate such a fiduciary duty or standard. Each Party shall be responsible for taking such actions as are deemed necessary and appropriate to comply with its own fiduciary
responsibilities and shall fully release and indemnify the other party for any Liabilities caused by the failure to satisfy any such responsibility. 

  
 15 

 6.5 Consent of Third Parties. If any provision of this Agreement is dependent on the
consent of any Third Party (such as a vendor or Governmental Entity) and such consent is withheld, Dover and Knowles shall use commercially reasonable efforts to implement the applicable provisions of this Agreement to the full extent practicable.
If any provision of this Agreement cannot be implemented due to the failure of such Third Party to consent, Dover and Knowles shall negotiate in good faith to implement the provision in a mutually satisfactory manner. The phrase “commercially
reasonable efforts” as used herein shall not be construed to require the incurrence of any non-routine or unreasonable expense or liability or the waiver of any right. 

6.6 Subsequent Transfers of Employment. To the extent that the employment of any individuals transfers between any member of the Dover
Group and any member of the Knowles Group in the twenty four (24) month period following the Distribution Date, the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the compensation and
benefits of such individuals following such transfer, it being understood that (i) it may not be possible to replicate the effect of such provisions under such circumstances and (ii) neither Dover nor Knowles shall be bound by the
provisions of this Section 6.6 to assume any Liabilities or transfer any Assets. Notwithstanding to foregoing, for compensation subject to the provisions of Section 409A of the Code, any such subsequent transfer shall be a separation from
service from the applicable employer for purposes of such compensation, and the consequences of such separation from service shall be determined in accordance with the terms of the applicable plan or agreement. 

ARTICLE VII  

MISCELLANEOUS 
 7.1
Complete Agreement. This Agreement, the Separation Agreement and the other Ancillary Agreements, and the exhibits, schedules and annexes hereto and thereto, shall constitute the entire agreement between the Parties with respect to the subject
matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. In the event of any conflict between the terms and conditions of the body of this Agreement and the terms and conditions of
any Schedule, the terms and conditions of such Schedule shall control. 
 7.2 Counterparts. This Agreement may be executed in one or
more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Parties. Execution of this Agreement or
any other documents pursuant to this Agreement by facsimile or other electronic copy of a signature shall be deemed to be, and shall have the same effect as, executed by an original signature. 

  
 16 

 7.3 Survival of Agreements. Except as otherwise contemplated by this Agreement, all
covenants and agreements of the Parties contained in this Agreement shall survive the Effective Time and remain in full force and effect in accordance with their applicable terms. 

7.4 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be given
or made (and shall be deemed to have been duly given or made upon receipt unless the day of receipt is not a Business Day, in which case it shall be deemed to have been duly given or made on the next Business Day) by delivery in person, by overnight
courier service, by facsimile with receipt confirmed (followed by delivery of an original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following
addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 7.4): 
 If to
Dover: 
 Dover Corporation 

3005 Highland Parkway 
 Downers
Grove, Illinois 60515 
 Attention: Ivonne M. Cabrera 

Facsimile: 630-743-2671 
 If to
Knowles: 
 Knowles Corporation 

1151 Maplewood Drive 
 Itasca,
Illinois 60143 
 Attn: Thomas Jackson 

Facsimile: 630-250-1295 
 7.5
Termination. Notwithstanding any provision to the contrary, this Agreement may be terminated at any time prior to the Effective Time if the Separation Agreement is terminated. In the event of such termination, this Agreement shall become void
and no Party, nor any of its officers and directors shall have any liability to any other Party or any other Person. After the Effective Time, this Agreement may not be terminated except by an agreement in writing signed by each of the Parties. 

7.6 Severability. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, and the Parties shall endeavor in good-faith negotiations to replace the
invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

7.7 Assignment; No Third-Party Beneficiaries. The provisions of this Agreement and the obligations and rights hereunder shall be binding
upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors (by merger, acquisition of assets or otherwise) and permitted transferees and assigns to the same extent as if such successors or permitted
transferees and assigns had been an original party to the Agreement. 

  
 17 

 
Notwithstanding the foregoing, this Agreement shall not be assignable, in whole or in part, by any Party without the prior written consent of the other Party, and any attempt to assign any rights
or obligations arising under this Agreement without such consent shall be null and void; provided, that (x) a Party may assign any or all of its rights and obligations under this Agreement to any of its Affiliates, but no such assignment
shall release the assigning Party from any liability or obligation under this Agreement and (y) a Party may assign this Agreement in whole in connection with a bone fide third party merger transaction in which such Party is not the surviving
entity or the sale by such Party of all or substantially all of its Assets, and upon the effectiveness of such assignment under this clause (y) the assigning Party shall be released from all of its obligations under this Agreement if the
surviving entity of such merger or the transferee of such Assets shall agree in writing, in form and substance reasonably satisfactory to the other Party, to be bound by the terms of this Agreement as if named as a “Party” hereto. This
Agreement is for the sole benefit of the Parties to this Agreement and their permitted successors and assigns and nothing in this Agreement, express or implied, (i) is intended to or shall confer upon any other Person any legal or equitable
right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, (ii) shall confer any right to employment or continued employment for any period or terms of employment, (iii) be interpreted to prevent or restrict
the Parties from modifying or terminating any Knowles Plan or Dover Plan or the employment or terms of employment of any Knowles Employee or Dover Employee or (iv) shall establish, modify or amend any Knowles Plan or Dover Plan covering a
Knowles Participant, Dover Participant, any Individual Agreements, collective bargaining agreements, national collective bargaining agreements, or the terms and conditions of employment applicable to a Knowles Employee or a Dover Employee. 

7.8 Successors. This Agreement shall be binding on and inure to the benefit of any successor by merger, acquisition of assets, or
otherwise, to any of the parties hereto, to the same extent as if such successor had been an original party to this Agreement. 
 7.9
Governing Law. This Agreement shall be governed by and construed in accordance with the internal Laws, and not the Laws governing conflicts of Laws (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law), of the State
of New York. 
 7.10 Consent to Jurisdiction. Subject to the provisions of Article VIII of the Separation Agreement, each of the
Parties irrevocably submits to the exclusive jurisdiction of (a) the Supreme Court of the State of New York, New York County, and (b) the United States District Court for the Southern District of New York (the “New York
Courts”), for the purposes of any suit, action or other proceeding to compel arbitration or for provisional relief in aid of arbitration in accordance with Article VIII of the Separation Agreement or for provisional relief to prevent
irreparable harm, and to the non-exclusive jurisdiction of the New York Courts for the enforcement of any award issued thereunder. Each of the Parties further agrees that service of any process, summons, notice or document by United States
registered mail to such Party’s respective address set forth in Section 7.4 shall be effective service of process for any action, suit or proceeding in the New York Courts with respect to any matters to which it has submitted to
jurisdiction in this Section 7.10. Each of the Parties irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in the
New York Courts, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. 

  
 18 

 7.11 Dispute Resolution. The resolution of any dispute between the Parties with respect to
this Agreement shall be governed by the provisions of the Separation Agreement with respect to the resolution of disputes, including, without limitation, the provisions of Article VIII of the Separation Agreement. 

7.12 Specific Performance. The Parties agree that irreparable damage would occur in the event that the provisions of this Agreement were
not performed in accordance with their specific terms. Accordingly, subject to Section 7.11 it is hereby agreed that the Parties shall be entitled to (i) an injunction or injunctions to enforce specifically the terms and provisions hereof
in any arbitration in accordance with Article VIII of the Separation Agreement, (ii) provisional or temporary injunctive relief in accordance therewith in any New York Court, and (iii) enforcement of any such award of an arbitral tribunal
or a New York Court in any court of the United States, or any other any court or tribunal sitting in any state of the United States or in any foreign country that has jurisdiction, this being in addition to any other remedy or relief to which they
may be entitled. 
 7.13 Amendment. No provision of this Agreement may be amended or modified except by a written instrument signed by
each of the Parties. No waiver by any Party of any provision of this Agreement shall be effective unless explicitly set forth in writing and executed by the Party so waiving. The waiver by any Party of a breach of any provision of this Agreement
shall not operate or be construed as a waiver of any other subsequent breach. 
 7.14 Rules of Construction. Interpretation of this
Agreement shall be governed by the following rules of construction: (i) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the context re-quires,
(ii) references to the terms Article, Section, paragraph, clause, Exhibit and Schedule are references to the Articles, Sections, paragraphs, clauses, Exhibits and Schedules of this Agreement unless otherwise specified, (iii) the terms
“hereof,” “herein,” “hereby,” “hereto,” and derivative or similar words refer to this entire Agreement, including the Schedules and Exhibits here-to, (iv) references to “$” shall mean U.S.
dollars, (v) the word “including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified, (vi) the word “or” shall not be exclusive,
(vii) references to “written” or “in writing” include in electronic form, (viii) provisions shall apply, when appropriate, to successive events and transactions, (ix) 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, (x) Dover and Knowles have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of
interpretation should arise, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in this
Agreement or any interim drafts of this Agreement, and (xi) a reference to any Person includes such Person’s successors and permitted assigns. 

  
 19 

 7.15 Authorization. Each of the Parties hereby represents and warrants that it has the
power and authority to execute, deliver and perform this Agreement, that this Agreement has been duly authorized by all necessary corporate action on the part of such Party, that this Agreement constitutes a legal, valid and binding obligation of
each such Party enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equity principles. 

7.16 Schedules. The Schedules attached hereto are incorporated herein by reference and shall be construed with and as an integral part
of this Agreement to the same extent as if the same had been set forth verbatim herein. 
 7.17 Subsidiaries. Each of the Parties
shall cause to be performed, and hereby guarantee the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party or by any entity that becomes a Subsidiary or Affiliate of
such Party on and after the date hereof. 
 7.18 No Circumvention. The Parties agree not to directly or indirectly take any actions,
act in concert with any Person who takes an action, or cause or allow any member of any such Party’s Group to take any actions (including the failure to take a reasonable action) such that the resulting effect is to materially undermine the
effectiveness of any of the provisions of this Agreement or any Ancillary Agreement. 
 [The remainder of this page is intentionally left
blank.] 

  
 20 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the date
first written above by their respective duly authorized officers. 
  

					
	DOVER CORPORATION
		
	By:	 	/s/ Ivonne M. Cabrera
		 	Name:	 	Ivonne M. Cabrera
		 	 Title:
	 	Senior Vice President, General Counsel & Secretary
	
	KNOWLES CORPORATION
		
	By:	 	/s/ Joseph W. Schmidt
		 	Name:	 	Joseph W. Schmidt
		 	Title:	 	Senior Vice President, General Counsel & Secretary

  
 21 

 Schedule A 
  

	1.	Executive Severance Agreement by and between Dover Corporation and David Wightman, dated as of February 21, 2000.EX-10.2

 Exhibit 10.2 

TAX MATTERS AGREEMENT 

Between 
 DOVER
CORPORATION 
 on behalf of itself 

and the DOVER AFFILIATES 

and 
 KNOWLES
CORPORATION 
 on behalf of itself 

and the KNOWLES AFFILIATES 

 This Tax Matters Agreement (the “Agreement”) is entered into as of the 28th day of
February, 2014, between Dover Corporation (“Dover”), a Delaware corporation, and Knowles Corporation (“Knowles”), a Delaware corporation. 

R E C I T A L S: 
 WHEREAS, the
board of directors of Dover has determined that it is appropriate and advisable to: (i) separate the Knowles Business (defined below) from Dover’s remaining businesses (the “Separation”), which will include the transfer of the
assets (including interests in intangible assets and stock of subsidiaries) used in connection with the Knowles Business to Knowles (the “Contribution”); and (ii) following the Contribution, make a distribution, on a pro rata basis,
to holders of common shares, par value $1.00 per share, of Dover of all of the outstanding shares of common stock, par value $0.01 per share, of Knowles owned by Dover (the “Distribution”) (the date of such Distribution, the
“Distribution Date”); 
 WHEREAS, Dover and Knowles intend that the Contribution and Distribution and certain other transactions
effected as part of the Separation qualify as Tax-free under Sections 355 and 361 of the Internal Revenue Code of 1986, as amended (the “Code”); 

WHEREAS, as of the date hereof and prior to the completion of the Distribution, Dover is the common parent of an affiliated group of domestic
corporations, including Knowles, that has elected to file consolidated U.S. federal income Tax Returns (defined below) and, as a result of the Distribution, neither Knowles nor any of its Affiliates (defined below) will be a member of such group
after the close of the Distribution Date; 
 WHEREAS, Dover and Knowles desire to allocate the responsibilities for various Taxes (defined
below) of the Dover Group (defined below) and the Knowles Group (defined below) for periods prior to and after the Distribution; and 

WHEREAS, Dover and Knowles desire to allocate the responsibilities for certain Tax liabilities incurred in connection with the transactions
involved in the Separation, Contribution and Distribution, including transactions occurring after the Effective Time. 
 NOW, THEREFORE, in
consideration of the mutual agreements, provisions and covenants contained in this Agreement, Dover and Knowles (each on behalf of itself, each of its Affiliates as of the Effective Time, and its future Affiliates) hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions. Reference is made to Section 5.16 of this Agreement regarding the interpretation of certain words and
phrases used in this Agreement. Capitalized terms used in this Agreement and not defined in this Section 1.01 shall have the meanings assigned to them in the Distribution Agreement (defined below). In addition, for the purpose of this
Agreement, the following terms shall have the meanings set forth below. 

 “Affiliate” means any entity that is directly or indirectly “controlled” by
either the person in question or an Affiliate of such person. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through ownership of
voting securities, by contract or otherwise. Unless otherwise indicated, the term Affiliate shall refer to Affiliates of a Party as determined immediately after the Distribution. 

“After-Tax Amount” means, with respect to any payment under this Agreement, an additional amount necessary to reflect the increase
in Tax that would result from the receipt or accrual of any payment, using the maximum statutory rate (or rates, in the case of an item that affects more than one Tax) applicable to the recipient of such payment (as increased by the After-Tax
Amount) for the relevant taxable periods, whether or not an actual increase occurs, and reflecting any Tax savings available to the recipient. 

“Agreement” has the meaning set forth in the Preamble. 

“Code” has the meaning ascribed to such term in the second WHEREAS clause hereof. 

“Contribution” has the meaning ascribed to such term in the first WHEREAS clause hereof. 

“Corresponding Portion of the Tax Detriment” means the product of the Tax Detriment and a fraction the numerator of which is the
amount of the related Tax Benefit for a taxable period and the denominator of which is the sum of the related Tax Benefits for all of the relevant taxable periods. 

“Covered Transaction Tax” has the meaning ascribed to such term in Section 3.01(a). 

“Determination” means (i) with respect to U.S. federal income Taxes, a “determination” as defined in
Section 1313(a) of the Code and, with respect to Taxes other than U.S. federal income Taxes, any decision, judgment, decree or other order by a court of competent jurisdiction that, under applicable law, is not subject to further appeal, review
or modification through proceedings or otherwise; (ii) the execution of an IRS Form 870-AD (or successor form) or other closing agreement or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under
the laws of a state, local, or foreign taxing jurisdiction; (iii) a final settlement resulting from a competent authority determination; (iv) any other final disposition, by mutual agreement of the Parties or by reason of the expiration of
a statute of limitations or period for the filing of claims for refunds, amended Tax Returns, or appeals from adverse determinations; or (v) the payment of, or incurring liability for, Tax with respect to which the Party responsible for such
Tax under this Agreement determines that no action should be taken to recoup such payment or contest such liability. 

“Distribution” has the meaning ascribed to such term in the first WHEREAS clause hereof. 

“Distribution Agreement” means the Separation and Distribution Agreement entered into by and between Dover and Knowles on the date
hereof, as the same may be amended. 

  
 2 

 “Distribution Date” has the meaning ascribed to such term in the first WHEREAS clause
hereof. 
 “Dover” has the meaning set forth in the Preamble. 

“Dover Group” means Dover and all Affiliates of Dover. 

“EMA” means the Employee Matters Agreement, as set forth in the Distribution Agreement. 

“Effective Time” has the meaning set forth in the Distribution Agreement. 

“Employment Taxes” means withholding, payroll, social security, workers compensation, unemployment, disability, and other similar
taxes together with any interest, penalties, additions to tax, or additional amounts with respect thereto imposed by any Tax Authority on any taxpayer or consolidated, combined, or unitary group of taxpayers. 

“Filing Group” means (i) the Dover Group in the case of a Tax Return required to be filed by a member of the Dover Group
(determined following the Separation) under applicable law, or (ii) the Knowles Group in the case of a Tax Return required to be filed by a member of the Knowles Group under applicable law. 

“Filing Group Parent” means (i) Dover, in the case the Dover Group is the Filing Group, or (ii) Knowles, in the case the
Knowles Group is the Filing Group. 
 “Governmental Authority” has the meaning set forth in the Distribution Agreement. 

“Indemnified Party” has the meaning ascribed to such term in Section 5.17(a). 

“Indemnifying Party” has the meaning ascribed to such term in Section 5.17(a). 

“Internal Distribution” has the meaning ascribed to such term in Section 3.01(b). 

“IRS” means the United States Internal Revenue Service. 

“Knowles” has the meaning set forth in the Preamble. 

“Knowles Business” has the meaning set forth in the Distribution Agreement. 

“Knowles Group” means Knowles and all Affiliates of Knowles (determined following the Separation). 

“Non-Filing Group” means (i) the Knowles Group, in the case of a Tax Return required to be filed by a member of the Dover Group
(determined following the Separation) under applicable law, or (ii) the Dover Group, in the case of a Tax Return required to be filed by a member of the Knowles Group under applicable law. 

“Non-Filing Group Parent” means (i) Dover, in the case where the Dover Group is the Non-Filing Group, and (ii) Knowles, in
the case where the Knowles Group is the Filing Group. 

  
 3 

 “Parties” means the parties to this Agreement. 

“Past Practices” has the meaning ascribed to such term in Section 2.04(e). 

“Person” has the meaning set forth in the Distribution Agreement. 

“Post-Distribution Period” means any taxable period or portion of a taxable period beginning after the Distribution Date. 

“Pre-Distribution Period” means any taxable period or portion of a taxable period ending on or before the Distribution Date. 

“Prime Rate” has the meaning set forth in the Distribution Agreement. 

“Remitting Party” has the meaning ascribed to such term in Section 5.17(b). 

“Responsible Party” has the meaning ascribed to such term in Section 5.17(b). 

“Ruling Transaction” has the meaning ascribed to such term in Section 3.01(a). 

“Section 355(e) Event” has the meaning ascribed to such term in Section 3.01(b). 

“Separation” has the meaning ascribed to such term in the first WHEREAS clause hereof. 

“Specified Action” has the meaning ascribed to such term in Section 4.02(b). 

“Straddle Period” means any taxable period beginning on or before the Distribution Date and ending after the Distribution Date. 

“Tax” means: (i) any income, net income, gross income, gross receipts, profits, capital stock, franchise, property, ad valorem,
stamp, excise, severance, occupation, service, sales, use, license, lease, transfer, import, export, customs duties, value added, alternative minimum, estimated or other similar tax (including any fee, assessment, or other charge in the nature of or
in lieu of any tax) together with any interest, penalties, additions to tax or additional amounts with respect thereto imposed by any Tax Authority on any taxpayer or consolidated, combined or unitary group of taxpayers; and (ii) any Employment
Tax. 
 “Tax Authority” means, with respect to any Tax, the Governmental Authority or political subdivision thereof that imposes
such Tax, and the agency (if any) charged with the collection of such Tax for such entity or subdivision. 
 “Tax Benefit” means
the reduction in Tax that should result from any item of loss, deduction (including from depreciation or amortization), or credit (or any other item), whether or not an actual reduction in Tax occurs, including any interest with respect thereto or
interest that would have been payable but for such item, net of any Tax on such interest. For purposes of calculating the amount of any Tax Benefit, the maximum statutory rate (or rates, in the case of an item that affects more than one Tax)
applicable to each item of income, gain, loss, deduction, or credit (or any other item) shall be used. 

  
 4 

 “Tax Contest” means an audit, review, examination, or any other administrative or
judicial proceeding with the purpose or effect of redetermining any Tax (including any administrative or judicial review of any claim for refund). 

“Tax Detriment” means the increase in Tax that should result from any item of income or gain (or any other item), whether or not an
actual increase in Tax occurs, including any interest with respect thereto, net of any Tax savings attributable to such interest. For purposes of calculating the amount of any Tax Detriment, the maximum statutory rate (or rates, in the case of an
item that affects more than one Tax) applicable to each item of income, gain, loss, deduction, or credit (or any other item) shall be used. 

“Tax Opinion” means any opinion on the United States federal income taxation of certain matters involved in the Separation,
Contribution and the Distribution and related transactions provided by Baker & McKenzie LLP to Dover. 
 “Tax Records”
means all records relating to any Tax, including without limitation Tax Returns, journal vouchers, cash vouchers, general ledgers, material contracts, Tax Return workpapers and schedules, appraisal reports, authorizations for expenditures, and
documents relating to rulings or other Determinations by any Tax Authority. 
 “Tax Return” means any report of Tax due, any
claims for refund of Tax paid, any information return with respect to Tax, any election made with respect to Tax, or any other similar report, statement, declaration, or document required to be filed under the Code or other law with respect to Tax,
including any attachments, exhibits, or other materials submitted with any of the foregoing, and including any amendments or supplements to any of the foregoing for any taxpayer or consolidated, combined, or unitary group of taxpayers. 

“Tax Ruling” means each ruling issued by a Tax Authority pursuant to a ruling request filed on behalf of Dover and/or an Affiliate
of Dover (including for this purpose an member of the Knowles Group) prior to the Effective Time with respect to a transaction or transactions undertaken in connection with the Separation, Contribution and Distribution, together with all
supplemental filings and exhibits thereto. 
 “Third Party” has the meaning set forth in the Distribution Agreement. 

“Voltronics Business” means the operations of Voltronics Corporation, the operations of K&L Microwave Inc. attributable to the
assets and liabilities transferred in the merger of Voltronics Corporation, and the operations of New Voltronics Inc. 

  
 5 

 ARTICLE II 

RESPONSIBILITY FOR TAX 
 Section 2.01
Responsibility for Tax. Subject to the terms and conditions of Schedule 2.01 hereof: 
  

	(a)	Except as specifically provided in any of the agreements contemplated by the Distribution Agreement, including the EMA with respect to Employment Taxes, Dover shall be responsible for, and shall indemnify and hold
harmless the Knowles Group from any liability for (i) any Tax imposed by any Tax Authority on a member of the Dover Group excluding for this purpose (w) the amount of such Taxes attributable to any member of the Knowles Group for any
taxable period, (x) any Tax attributable to the Voltronics Business for any taxable period (y) one-half of the aggregate amount of Taxes (including income Taxes) imposed on a member of the Dover Group (determined following the Separation)
arising from, or attributable to, any direct or indirect transfer of assets (including stock) or liabilities in the Separation (other than a Covered Transaction Tax) and including such transfers contemplated to occur after the Effective Time other
than such amounts recoupable by a member of the Dover Group and (z) any Covered Transaction Tax for which Knowles is responsible under Section 3.01(b); (ii) the Taxes described in Section 2.01(b)(i)(w), (x) and (y);
(iii) any Employment Taxes imposed on Dover or any Dover Affiliate arising as a transferee of employees of Knowles or any Knowles Affiliate in connection with the Separation; and (iv) any Tax (other than a Covered Transaction Tax) imposed
on Knowles or a Knowles Affiliate as a result of an action undertaken, or a failure to act, by Dover or a Dover Affiliate (determined following the Separation) after the Effective Time (other than resulting from a Tax Contest) which gives rise to a
Tax on Dover or the Dover Affiliate that Knowles or the Knowles Affiliate is jointly and severally liable for. 

  

	(b)	Except as specifically provided in any of the agreements contemplated by the Distribution Agreement, including the EMA with respect to Employment Taxes, Knowles shall be responsible for, and shall indemnify and hold
harmless the Dover Group from any liability for (i) any Tax imposed by any Tax Authority on a member of the Knowles Group for any taxable period including Employment Taxes imposed on Knowles or any Knowles Affiliate as a transferee of employees
of any member of the Dover Group in connection with the Separation and excluding for this purpose (w) any Covered Transaction Tax for which Dover is responsible under Section 3.01(a), (x) the amount of such Taxes attributable to any
member of the Dover Group (determined following the Separation) for any taxable period and (y) one-half of the aggregate amount of Taxes (including income Taxes) imposed on a member of the Knowles Group arising from, or attributable to, any
direct or indirect transfer of assets (including stock) or liabilities in the Separation (other than a Covered Transaction Tax) and including such transfers contemplated to occur after the Effective Time other than such amounts recoupable by a
member of the Knowles Group; (ii) the Taxes described in Section 2.01(a)(i)(w)-(z); (iii) any Tax (other than a Covered Transaction Tax) imposed on Dover or a Dover Affiliate as a result of an action undertaken, or a failure to act,
by Knowles or a Knowles Affiliate after the Effective Time (other than resulting from a Tax Contest); and (iv) except to the extent related to a Covered Transaction Tax, any gain recognized or recapture of income (including under any gain
recognition agreement entered into by Dover or any Dover Affiliate in accordance with Treasury Regulations Section 1.367(a)-8) in relation to an action, or failure to act, of a member of the Knowles Group arising under any Tax law.

  

	(c)	 The amount of Taxes attributable to the Knowles Group or the Dover Group (i.e., the Non-Filing Group) in the Tax Return filed by a member of the other
group (i.e., the Filing Group) will be determined by treating the Non-Filing Group as if it filed the relevant Tax Return on a standalone basis in a manner consistent with Past Practices,

  
 6 

	 	
using the maximum statutory tax rate in effect for the taxable period and utilizing only the tax losses and other attributes of such Non-Filing Group reflected on the Filing Group’s Tax
Return for the taxable period in question which produces a Tax Benefit during such taxable period to the Filing Group. Notwithstanding the foregoing, for purposes of determining the amount of Taxes attributable to the Knowles Group under
Section 2.01(a)(i)(w) upon a Determination (other than as a result of the expiration of the statute of limitations) with respect to any Tax Return for which the Knowles Group is the Non-Filing Group, the amount of such Taxes shall be determined
pursuant to Section 2.02(b)(iv). The Taxes attributable to the Voltronics Business shall be the Taxes incurred by Voltronics Corporation prior to its merger with and into K&L Microwave, Inc., the Taxes attributable to the Voltronics
Business operated by K&L Microwave Inc. after the merger as reasonably determined by Dover as if the Voltronics Business were a standalone entity under the principles set forth in this Section 2.01(c) and the Taxes incurred by New
Voltronics Inc. 

  

	(d)	The Tax incurred in Straddle Periods shall be separated into a Pre-Distribution Period and a Post-Distribution Period by treating the day including the Effective Time as the termination of the Pre-Distribution Period
and the day immediately following the day including the Effective Time as the commencement of the Post-Distribution Period, whether or not allowed under applicable law, and the Tax attributable to the Non-Filing Group for the Pre-Distribution Period
shall be determined by applying the principles of Section 2.01(c). 

 Section 2.02 Refunds, Tax Benefits, and Other
Allocations 
  

	(a)	Refunds and Carrybacks. 

  

	 	(i)	Dover Refunds. Except as provided in Section 2.02(a)(iv) below, Dover shall be entitled to all refunds (including refunds paid by means of a credit against other or future Tax liabilities) with respect to any Tax
for which Dover is responsible under Section 2.01. 

  

	 	(ii)	Knowles Refunds. Except as provided in Section 2.02(a)(iv) below, Knowles shall be entitled to all refunds (including refunds paid by means of a credit against other or future Tax liabilities) with respect to any
Tax for which Knowles is responsible under Section 2.01 other than for a Tax Return for a taxable period for which the Dover Group is the Filing Group. 

  

	 	(iii)	 Payment of Refunds. Except as provided in Section 2.02(a)(iv), Knowles shall forward to Dover, or reimburse Dover for, any refunds due Dover
(pursuant to the terms of this Section 2.02(a)) after receipt thereof (less any Tax Detriment attributable to such refunds), and Dover shall forward to Knowles, or reimburse Knowles for, any refunds due Knowles (pursuant to the terms of this
Section 2.02(a)) after receipt thereof (less any Tax Detriment attributable to such refunds). In the case of a refund received in the form of a credit against other or future Tax liabilities, reimbursement with respect to such refund shall be
due in each case within 

  
 7 

	 	
thirty (30) days after the due date for payment of the Tax against which such refund has been credited. Any payment required to be made pursuant to this Section 2.02(a)(iii) shall be
made within thirty (30) days of the receipt of the refund. If Dover reasonably so requests, Knowles, at Dover’s expense, shall file for and pursue any refund to which Dover is entitled under this Section 2.02(a), provided that the
foregoing does not have a material adverse impact on the Knowles Group, as reasonably determined by Knowles. If Knowles reasonably so requests, Dover, at Knowles’ expense, shall file for and pursue any refund to which Knowles is entitled under
this Section 2.02(a), provided that the foregoing does not have a material adverse impact on the Dover Group, as reasonably determined by Dover. The Party making a payment pursuant to this Section 2.02(a)(iii) must deliver with the payment
a statement describing in reasonable detail the basis for the calculation of the amount being paid. 

  

	 	(iv)	Carrybacks. 

  

	 	(1)	The Non-Filing Group shall be entitled to any refund of, or credit against, the Filing Group’s Tax for a Pre-Distribution Period resulting from carrying back any item of loss, deduction or credit that arises in any
Post-Distribution Period of the Non-Filing Group only to the extent that (A) the Filing Group has no item of loss, deduction, or credit that can be carried back to such taxable period and (B) such carryback does not have a material adverse
impact on the Filing Group, as reasonably determined by the Filing Group. If the Filing Group receives any such refund (or benefit of such credit), it shall pay the portion thereof to which Non-Filing Group is entitled within thirty (30) days
of the later of (C) a Determination with respect to the Filing Group’s Tax for such Pre-Distribution Period or (D) a Determination with respect to the Non-Filing Group’s Tax for the Post-Distribution Period that gave rise to the
refund received by the Filing Group (or to the credit against the Filing Group’s Tax); PROVIDED, HOWEVER, that if the Non-Filing Group Parent provides the Filing Group Parent with a letter of credit in a form reasonably acceptable to the Filing
Group Parent and issued by a major money center commercial bank reasonably acceptable to the Filing Group Parent not expiring before the later of clause (C) or (D) of this Section 2.02(a)(iv)(1), then the Filing Group Parent shall pay
to the Non-Filing Group Parent that portion of the refund (or credit against Tax) covered by the letter of credit no later than thirty (30) days after receipt of the refund (or, in the case of a credit, the filing of the Tax Return that
includes such credit) or of the letter of credit, whichever is later. 

  
 8 

	 	(2)	If the Non-Filing Group has a loss or other Tax attribute for any Post-Distribution Period that is to be carried back to any Pre-Distribution Period, the Non-Filing Group Parent shall notify the Filing Group Parent that
such item should be carried back. Such notification shall include a description in reasonable detail of the grounds for the refund and the amount thereof, and a certification by an appropriate officer of the Non-Filing Group Parent setting forth the
Non-Filing Group’s belief, based on a thorough examination of the facts and Tax law relating to the Tax treatment of such item, that (A) the Tax treatment of such item is supported by “substantial authority” within the meaning of
Section 6662 of the Code (and the Treasury Regulations thereunder) or, where applicable, any analogous provision of state, local or foreign law and (B) the transaction has economic substance for purposes of Section 7701 of the Code
and any analogous provision of state, local or foreign law. The Filing Group Parent, at the Non-Filing Group Parent’s expense, shall cooperate with the Non-Filing Group in connection with the filing and processing of any Non-Filing Group
carryback and shall provide the Non-Filing Group Parent with copies of all correspondence related thereto. 

  

	 	(3)	If the Filing Group Parent pays any amount to the Non-Filing Group Parent under Section 2.02(a)(iv)(1) and, as a result of a subsequent Determination, the Non-Filing Group is not entitled to all or any part of such
amount, the Filing Group Parent shall notify the Non-Filing Group Parent of the amount to be repaid to the Filing Group Parent and provide a description in reasonable detail of the manner in which such amount was calculated. The Non-Filing Group
Parent shall pay such amount to the Filing Group Parent within thirty (30) days of such notification. 

  

	 	(4)	Any payment required to be made by the Filing Group Parent pursuant to this Section 2.02(a)(iv) shall bear interest at the Prime Rate plus two percent from the date a refund is received by Filing Group. Any payment
required to be made by the Non-Filing Group Parent pursuant to this Section 2.02(a)(iv) shall bear interest at the Prime Rate plus two percent beginning thirty (30) days after the Filing Group Parent notifies the Non-Filing Group Parent of
the amount to be repaid. Such interest shall be paid at the same time as the payment to which it relates. 

  

	(b)	Effect of Audit Adjustments. 

 Notwithstanding Section 2.01 — 

 

	 	(i)	 Payments by Knowles to Dover. Except as provided in Section 3.01(b), if as a result of a Determination, any adjustment shall be made to any Tax
Return for a taxable period relating, in whole or in part, to Tax for which any member of the Dover Group (determined following the Separation) is responsible, and if such adjustment results in both (x) a Tax Detriment to

  
 9 

	 	
any member of the Dover Group for the taxable period and (y) a Tax Benefit to any member of the Knowles Group for any taxable period, then Knowles shall pay to Dover an amount equal to the
lesser of the Tax Benefit for each taxable period and the Corresponding Portion of the Tax Detriment. For the avoidance of doubt, this Section 2.02(b)(i) shall apply to any adjustment under Section 482 of the Code or any similar provisions
by any Tax Authority increasing the amount of payments received or deemed received by any member of the Dover Group from any member of the Knowles Group. For purposes of determining the Tax Benefit, the Tax Benefit shall be calculated based solely
on the Tax Benefit realized by the relevant Knowles Group member directly affected by the Determination. 

  

	 	(ii)	Payments by Dover to Knowles. If as a result of a Determination, any adjustment shall be made to any Tax Return for a taxable period relating, in whole or in part, to Tax for which any member of the Knowles Group is
responsible, and if such adjustment results in both (x) a Tax Detriment to any member of the Knowles Group for the taxable period and (y) a Tax Benefit to any member of the Dover Group for any taxable period, then Dover shall pay to
Knowles an amount equal to the lesser of the Tax Benefit for such taxable period and the Corresponding Portion of the Tax Detriment. For the avoidance of doubt, this Section 2.02(b)(ii) shall apply to any adjustment under Section 482 of
the Code or any similar provisions by any Tax Authority increasing the amount of payments received or deemed received by any member of the Knowles Group from any member of the Dover Group. For purposes of determining the Tax Benefit, the Tax Benefit
shall be calculated based solely on the Tax Benefit realized by the relevant Dover Group member directly affected by the Determination. 

  

	 	(iii)	Timing of Payments. Any payment required to be made pursuant to this Section 2.02(b), shall be made the later of (x) thirty (30) days after the Determination that results in such payment pursuant to this
Section 2.02(b) and (y) the earlier of (I) the due date of the Tax Return that includes the Tax Benefit that gives rise to the requirement for such payment and (II) the date the Tax Benefit is recognized in the financial statements of
the Party making the payment. 

  

	 	(iv)	 Determination of Tax Detriment. Notwithstanding any other provision of this Agreement, the amount of a Tax Detriment with respect to income taxes
attributable to the Knowles Group as a result of a Determination with respect to a Tax Return for a taxable period that includes both members of the Knowles Group and Dover Group (determined following the Distribution) shall be the aggregate of the
adjustments to income of members of the Knowles Group resulting from such Determination (whether positive or negative) multiplied by the maximum statutory tax rate in effect for the taxable period in the relevant jurisdiction also taking into
account adjustments of Tax credits in such Determination; provided, however, that (x) in no event shall such Tax Detriment be less than zero 

  
 10 

	 	
and (y) any Tax Detriment for a taxable period attributable to a combination of one or more members of the Dover Group with one or more members of the Knowles Group in a jurisdiction, where
such members filed Tax Returns without such combination for such taxable period, shall be borne by the Knowles Group. 

  

	(c)	Other Allocations 

  

	 	(i)	Research and Experimentation Credit Base Period. Dover shall reasonably make the allocations to Knowles required under Section 41(f)(3) of the Code and inform Knowles of such allocations. Knowles agrees that it
shall not file any Tax Return that is inconsistent with the amount of qualified research expenditures and gross receipts allocated to it by Dover. 

  

	 	(ii)	Allocation of Earnings and Profits. The allocation of earnings and profits between Dover and Knowles and between their Affiliates in the case of any Internal Distribution shall be reasonably determined by Dover pursuant
to Section 312(h) of the Code and the relevant Treasury Regulations under the Code. Dover shall provide the allocation of earnings and profits to Knowles within ninety days after the Distribution Date. 

 

	 	(iii)	Treatment of Tax Attributes. Dover shall in good faith advise Knowles in writing of the portion, if any, of the Tax attributes, including overall foreign loss or consolidated, combined or unitary attributes, which Dover
determines shall be allocated or apportioned to the Knowles Group under applicable law. Knowles and all members of the Knowles Group shall prepare all Tax Returns in accordance with such written notice. In the event that any temporary or final
amendments to Treasury Regulations or any other applicable law are promulgated after the date of this Agreement that provide for any election that would affect the preparation of any Tax Return which affects both a member of the Dover Group and a
member of the Knowles Group and applies such regulations retroactively, then any such election shall be made only to the extent that Dover and Knowles collectively agree to make such election. As soon as practicable after receipt of a written
request from Knowles, Dover shall provide copies of any studies, reports, and workpapers supporting the Tax attributes, including earnings and profits, allocable to the Knowles Group. For the avoidance of doubt, Dover shall not be liable to Knowles
or any member of the Knowles Group for any failure of any determination under this Section 2.02(c) to be accurate under applicable Law. 

  

	 	(iv)	Revised Allocations. The allocations made under this Section 2.02(c) shall be revised by Dover to reflect each subsequent Determination that affects such allocations for any Pre-Distribution Period. Each revised
calculation shall be provided to Knowles within 120 days of the Determination to which the revision relates. 

  
 11 

	 	(v)	Review of Allocations. Knowles shall have the right to review the accuracy, but not the methodology, of any allocation made under this Section 2.02(c). Knowles shall notify Dover of any disagreement within
forty-five (45) days of being notified of any allocation. Any dispute shall be resolved pursuant to the procedures provided by this Agreement. 

Section 2.03 Option Deductions. Solely the member of the Dover Group or the Knowles Group for which the relevant individual is currently employed
or, if such individual is not currently employed by a member of either group, was most recently employed, at the time of the vesting, exercise, disqualifying disposition, payment or other relevant taxable event, as appropriate, in respect of equity
awards and other incentive compensation of such individual described in the EMA, shall be entitled to claim any income Tax deduction in respect of such equity awards and other incentive compensation on its respective Tax Return associated with such
event. To the extent any Tax deduction that is described in the first sentence of this Section 2.03 and claimed by any member of the Dover Group is disallowed to any and all members of the Dover Group and a Tax Authority makes a Determination
that a member of the Knowles Group is entitled to such deduction, Dover shall notify Knowles of the receipt of such Determination, promptly after receipt thereof, and Knowles shall pay to Dover the lesser of the amount of its Tax Benefit and the
amount of the corresponding Tax Detriment in accordance with Section 2.02(b). To the extent any Tax deduction that is described in the first sentence of this Section 2.03 and claimed by any member of the Knowles Group is disallowed to any
and all members of the Knowles Group and a Tax Authority makes a Determination that a member of the Dover Group is entitled to such deduction, Knowles shall notify Dover of the receipt of such Determination, promptly after receipt thereof, and Dover
shall pay to Knowles the lesser of the amount of its Tax Benefit and the amount of the Corresponding Portion of the Tax Detriment in accordance with Section 2.02(b). 

Section 2.04 Tax Returns. 
  

	(a)	 Except as provided in Section 2.04(b), Dover shall prepare and timely file all Tax Returns for Pre-Distribution Periods (other than a Straddle
Period) for which either the Dover Group or the Knowles Group is the Filing Group and all Tax Returns for Straddle Periods for all members of the Dover Group. In connection with each federal, state, local, and foreign Tax Return that is required
under this Agreement to be filed by Dover for taxable periods ending in 2013 and 2014, Knowles shall timely furnish to Dover Tax information and documents as Dover may reasonably request. With respect to any information required to be provided by
Knowles pursuant to this Section 2.04(a), (i) Dover shall utilize such information in the preparation of the appropriate Tax Returns as provided by Knowles, except to the extent (a) Knowles provides its prior written consent to change
any such information, or (b) Dover determines in good faith that such information is inaccurate or incomplete in a material respect, and (ii) Knowles agrees to indemnify and hold harmless Dover and its Affiliates from and against any cost,
fine, penalty, or other expense of any kind attributable to the misconduct or negligence of Knowles or any of its Affiliates in supplying Dover with inaccurate or incomplete information. An appropriate officer of Knowles shall provide a
certification that, to such officer’s best knowledge and belief, any and all information provided pursuant to this Section 2.04(a) is accurate and complete. If Knowles fails to provide any information required by this Section 2.04(a)

  
 12 

	 	
within the time period specified, Dover may file the applicable Tax Returns based on the information available at the time such Tax Returns are due and Knowles shall indemnify and hold harmless
Dover and its Affiliates from Taxes or other costs imposed on Dover or any of its Affiliates but only to the extent resulting from Knowles’s failure to provide such information in a timely manner. In addition, Knowles shall make available
employees and officers of Knowles and Knowles Affiliates, as Dover reasonably requests, to prepare and file any Tax Return for any Pre-Distribution Period or Straddle Period (including any claims for refunds described in Section 2.02(a)) or to
conduct any Tax Contest with respect to any such Tax Return. If Knowles is responsible under Section 2.01 for a portion of any Tax reported on a Tax Return prepared under this Section 2.04(a) by Dover, Dover shall provide Knowles with a
copy of such Tax Return at least thirty (30) days prior to its due date. Knowles shall notify Dover of any disagreement within 20 days of Knowles’s receipt of such Tax Return. Any dispute shall be resolved pursuant to the procedures
provided by this Agreement. 

  

	(b)	Knowles shall be solely responsible for preparing and timely filing all Tax Returns relating to any Taxes that any member of the Knowles Group is required to file under applicable law for any Post-Distribution Period
(other than a Straddle Period) and shall prepare and timely file all Tax Returns for Straddle Periods that a member of the Knowles Group is required to file under applicable law. If Dover is responsible under Section 2.01(a) for a portion of
any Tax reported on a Straddle Period Tax Return prepared by a member of the Knowles Group, Knowles shall provide Dover with a copy of such Tax Return at least thirty (30) days prior to its due date. Dover shall notify Knowles of any
disagreement within 20 days of Dover’s receipt of such Tax Return. Any dispute shall be resolved pursuant to the procedures provided by this Agreement. 

  

	(c)	No amended Tax Return for any Pre-Distribution Period shall be filed by the Filing Group that includes a member of the Non-Filing Group unless the Non-Filing Group Parent consents, which consent shall not be
unreasonably denied or withheld. 

  

	(d)	No Tax election may be made with respect to any Tax Return for a Pre-Distribution Period by a member of the Filing Group that would affect a member of the Non-Filing Group unless notice of such Tax election is provided
to the affected Non-Filing Group Parent within forty-five (45) days before such Tax Return will be filed. The Non-Filing Group Parent shall have the right to review such elections and request, within 15 days of such notice, that an alternative
election be made. If the Filing Group Parent reasonably determines that such alternative election will not result in any increased Tax liability or reduced Tax attribute of the Filing Group, the Filing Group Parent shall comply with such request.

  

	(e)	 Except as otherwise provided in this Agreement, in the case of any Tax Return for or that includes a Pre-Distribution Period, the Party responsible
for preparing and filing such Tax Return pursuant to this Section 2.04 shall prepare (or shall cause the appropriate member of its Group to prepare) such Tax Return in accordance with past practices, accounting methods, elections or conventions
(“Past Practices”) used in preparing and filing the corresponding Tax Return for prior periods and, to the extent any items are not covered by Past Practices, in accordance with reasonable Tax accounting practices. In

  
 13 

	 	
addition, unless otherwise required by applicable law, in the preparation and filing of any Tax Return for or that includes a Pre-Distribution Period, the Party responsible for preparing and
filing such Tax Return shall not take (or shall cause the appropriate member of its Group not to take) any position (or make any election) that is inconsistent with any position taken or election made by Dover in connection with the preparation and
filing of any consolidated U.S. Federal Income Tax Return that includes any Pre-Distribution Period. The Party not responsible for preparing and filing a Tax Return under this Section 2.04 shall cooperate as reasonably necessary to allow the
other Party to prepare and file such Tax Return. 

 Section 2.05 Cooperation, Exchange of Information, and Tax Records.

  

	(a)	Cooperation and Exchange of Information. Each Party shall provide to the other such cooperation and information as reasonably may be requested in connection with (i) filing any Tax Return, amended return or claim
for refund, (ii) determining a liability for Tax or a right to a refund of Tax, or (iii) participating in or conducting any Tax Contest. Such cooperation and information shall include providing copies of relevant Tax Records. Each Party
shall devote the personnel and resources necessary in order to carry out this Section 2.05(a) and shall make its employees available on a mutually convenient basis to provide explanations of any documents or information provided hereunder. Each
Party shall carry out its responsibilities under this Section 2.05(a) charging to the other only the out-of-pocket costs actually incurred except that Knowles shall not be entitled to compensation for information provided to Dover pursuant to
Section 2.04(a). Any information obtained under this Section 2.05(a) shall be kept in strict confidence, with at least the same degree of care that applies to Dover’s confidential and proprietary information pursuant to policies in
effect as of the Effective Time, except as otherwise may be necessary in connection with the filing of Tax Returns or claims for refund or in conducting an audit or other proceeding. Knowles shall execute all necessary or appropriate forms,
including powers of attorney, reasonably requested by Dover in connection with any action taken by Dover pursuant to this Agreement. 

  

	(b)	Record Retention. Each of Dover and Knowles shall retain all Tax Records in its possession as of the Effective Time relating to any Pre-Distribution Period that are relevant to the other Party for purposes described in
Section 2.05(a) until such time as the other Party shall consent to the disposition of such Tax Records, which consent shall not be withheld unreasonably. 

Section 2.06 Tax Contests. 
  

	(a)	 Notice. The Indemnified Party shall provide prompt notice to the Indemnifying Party of any pending or threatened Tax audit, assessment, or proceeding,
or other Tax Contest, of which it becomes aware, related to Tax for which it is indemnified by the Indemnifying Party hereunder. Such notice shall contain factual information (to the extent known) describing any asserted Tax liability in reasonable
detail and shall be accompanied by copies of any notice and other documents received from any Tax Authority with respect to any such matters. If the Indemnified Party has knowledge of an asserted Tax liability with respect to a matter for which it
is to be indemnified hereunder and such Party fails to 

  
 14 

	 	
give the Indemnifying Party prompt notice of such asserted Tax liability, then (i) if the Indemnifying Party is precluded from contesting the asserted Tax liability in any forum as a result
of the failure to give prompt notice, the Indemnifying Party shall have no obligation to indemnify the Indemnified Party for any Tax resulting from such assertion of Tax liability, and (ii) if the Indemnifying Party is not precluded from
contesting the asserted Tax liability in any forum, but such failure to give prompt notice results in a monetary detriment to the Indemnifying Party, then any amount that the Indemnifying Party is otherwise required to pay the Indemnified Party
pursuant to this Agreement shall be reduced by the amount of such detriment. 

  

	(b)	Control of Tax Contests. 

  

	 	(i)	Knowles. Knowles shall have full responsibility and discretion in conducting, including settling, any Tax Contest involving a Tax Return which includes only members of the Knowles Group (taking into account any
adjustment to the entities included on such Tax Return asserted in, or arising from, any Tax Contest) other than a Covered Transaction Tax. Knowles shall provide notice to Dover and shall consult in good faith with Dover in connection with any Tax
Contest in which Dover is required to make a payment to Knowles under Section 2.02(b)(ii) or any Tax Contest in which the outcome is relevant to any member of the Dover Group for any Pre-Distribution Period. 

 

	 	(ii)	Dover. Dover shall have full responsibility and discretion in conducting, including settling, any Tax Contest that Knowles does not control pursuant to Section 2.06(b)(i). Dover shall consult in good faith with
Knowles in connection with any Tax Contest described in this Section 2.06(b)(ii). Dover shall provide notice to Knowles and shall consult in good faith with Knowles in connection with any Tax Contest in which Knowles is required to make a
payment to Dover under Section 2.02(b)(i) or any Tax Contest in which the outcome is relevant to any member of the Knowles Group for any Post-Distribution Period. 

 

	 	(iii)	Covered Transaction Taxes. Knowles shall have the right to participate in the conduct of a Tax Contest related to Covered Transaction Taxes as a result of the application of Section 355(e) of the Code if, and only
if, (x) Knowles has acknowledged in writing its liability for such Covered Transaction Tax if Section 355(e) were determined to apply, (y) Knowles shall have provided Dover with a letter of credit in a form reasonably acceptable to
Dover and issued by a major money center commercial bank reasonably acceptable to Dover, not expiring before a Determination has occurred with respect to Dover’s Tax for the Post-Distribution Period that gave rise to the Covered Transaction Tax
at issue, and in an amount equal to the maximum amount of Covered Transaction Tax at issue in the Tax Contest and (z) no Tax Return of any member of the Dover Group with respect to which any member of the Dover Group may reasonably be viewed as
having an actual or potential liability for any Tax not indemnified against by Knowles is held open as a result of such Tax Contest. Dover shall not settle any Tax Contest described in this paragraph (iii) without the consent of Knowles, which
consent shall not be unreasonably withheld. 

  
 15 

 ARTICLE III 

TRANSACTIONS TAX 
 Section 3.01
Transactions Tax. 
  

	(a)	General. Except as otherwise provided in Section 3.01(b), Dover shall be responsible for, and shall indemnify and hold harmless the Knowles Group from any and all (i) liabilities sustained by Dover or Knowles
as a result of the Distribution failing to qualify as Tax-free to the Dover shareholders pursuant to Section 355(a) of the Code, and (ii) federal, state, local, and foreign Tax imposed by any Tax Authority on Dover or any Dover Affiliate
or Knowles or any Knowles Affiliate as a result of (x) the failure of any of the transactions described in any Tax Opinion (including each Internal Distribution) to be treated as provided in such opinion; (y) the failure of any of the
transactions described in the Tax Rulings (each a “Ruling Transaction”) to be treated as provided in such rulings; and (z) the inclusion, or taking into account, of any income or gain by Dover or any Dover Affiliate or Knowles or any
Knowles Affiliate under Treasury Regulations Section 1.1502-13 or 1.1502-19 (or any corresponding provisions of other applicable Tax laws) as a result of the Separation and Distribution and (iii) reasonable attorney fees and other costs
incurred by a member of the Dover Group (determined after the Separation) in connection with the liabilities or Taxes described in subclasses (i) and (ii) (each of subclauses (i) through (ii), a “Covered Transaction Tax”).

  

	(b)	Inconsistent Acts and Events. Knowles shall be responsible for, and shall indemnify and hold harmless the Dover Group from and against any liability for, any Covered Transaction Tax (including without limitation
reasonable attorney fees and other costs incurred in connection therewith) resulting from (i) any breach by any member of the Knowles Group of any of the representations or covenants under Article IV hereof, (ii) any Specified Action
performed by any member of the Knowles Group (whether or not Section 4.02(d) is complied with), (iii) any Section 355(e) Event with respect to a member of the Knowles Group (whether or not such Section 355(e) Event is caused by a
Specified Action), and (iv) if clauses (i), (ii) and (iii) do not apply, one-half of any Covered Transaction Tax not caused by a member of the Dover Group, either as a result of an action or failure to act or of a breach of any
representation or covenant provided in Article IV, and not arising under Sections 355(d), (e) or (f) of the Code. 

A Section 355(e) Event with respect to a member of the Knowles Group means any event after the Distribution, involving the stock of
Knowles or a Knowles Affiliate or assets of any member of the Knowles Group, that causes the Distribution or any distribution described in any Tax Ruling or Tax Opinion of the stock of foreign and U.S. subsidiaries for which rulings or opinions were
requested (each an “Internal Distribution”) to be a taxable event to any member of the Dover Group as the result of the application of Section 355(e) of the Code. 

  
 16 

 ARTICLE IV 

REPRESENTATIONS AND COVENANTS 

Section 4.01 Representations. 
  

	(a)	Dover represents that, as of the date of this Agreement, neither it nor any of its Affiliates knows of any fact that would jeopardize the Tax treatment of the transactions provided by the Tax Rulings or any Tax Opinion
or that otherwise would result in a Covered Transaction Tax. 

  

	(b)	Knowles represents that, as of the date of this Agreement, neither it nor any of its Affiliates knows of any fact that would jeopardize the Tax treatment of the transactions provided by the Tax Rulings or any Tax
Opinion, or that otherwise would result in a Covered Transaction Tax. 

  

	(c)	Dover represents that, as of the date of this Agreement, neither it nor any of its Affiliates has any plan or intention to take any action that is inconsistent with the Tax treatment of the transactions provided by the
Tax Rulings or any Tax Opinion, or that otherwise would result in a Covered Transaction Tax. 

  

	(d)	Knowles represents that, as of the date of this Agreement, neither it nor any of its Affiliates has any plan or intention to take any action that is inconsistent with the Tax treatment of the transactions provided by
the Tax Rulings or any Tax Opinion or that otherwise would result in a Covered Transaction Tax. 

  

	(e)	Knowles represents that, as of the date of this Agreement, neither it nor any of its Affiliates has entered into any agreement, understanding, arrangement, or substantial negotiation with respect to any transaction or
event (including stock issuances, option grants, capital contributions, acquisitions, and changes in the voting power of any of its stock), that may cause Section 355(e) of the Code to apply to the Distribution or any Internal Distribution.

 Section 4.02 Covenants. 
  

	(a)	Conduct. Knowles covenants and agrees that it shall not take, and it shall cause its Affiliates to refrain from taking, any action that reasonably may be expected to result in any Covered Transaction Tax described in
Section 3.01(b). This includes taking any action that is inconsistent with the Tax treatment of the transactions provided by any Tax Opinion or the Tax Rulings (any such action, including any action referred to in Section 4.02(a)(i)
through (iv), is referred to in this Agreement as a “Specified Action”). Without limiting the foregoing: 

  

	 	(i)	 Specified Actions. Any time before the second anniversary of the Distribution Date, Knowles shall not (and shall cause its Affiliates to not)
(A) liquidate, merge, or consolidate with or into any corporation that was not already wholly owned by Knowles or by a wholly owned subsidiary of Knowles prior to such transaction; (B) issue any of its capital stock in one

  
 17 

	 	
or more transactions, other than (i) issuances to employees, directors, or independent contractors in connection with the performance of services for Knowles (that are not excessive by
reference to the services performed) which issuances either (x) are with respect to the exercise of options of Knowles that are substituted for Dover options or (y) satisfy Safe Harbor VIII of Treasury Regulations Section 1.355-7(d)
to not be treated for purposes of Section 355(e) of the Code to be part of a plan or series of related transactions that includes the Distribution or the Internal Distributions or (ii) issuances of stock that satisfy Safe Harbor IX of
Treasury Regulations Section 1.355-7(d); (C) redeem, purchase, or otherwise reacquire any of its capital stock in one or more transactions; (D) change the voting rights of any of its stock; (E) issue any options to acquire
Knowles Shares other than options that satisfy Safe Harbor VIII of Treasury Regulations Section 1.355-7(d); (F) sell, exchange, distribute, or otherwise dispose of, other than in the ordinary course of business, all or a substantial part
of the assets of any of the trades or businesses relied on to satisfy Section 355(b) of the Code or any comparable provision of state, local or foreign law; or (G) discontinue or cause to be discontinued the active conduct of any of the
trades or businesses relied on to satisfy Section 355(b) of the Code or any comparable provision of state, local or foreign law. Notwithstanding the foregoing, clauses (A) through (E) of this Section 4.02(a)(i) shall not apply
unless there are transactions described in such clauses any time before the second anniversary of the Distribution Date that result in one or more Persons acquiring directly or indirectly stock representing, in the aggregate, a 40 percent or greater
interest in Knowles (as defined in Sections 355(d)(4) and 355(e) of the Code). This Section 4.02(a)(i) and the application thereof is intended to monitor compliance with Section 355(e) of the Code and shall be interpreted accordingly. Any
clarification of, or change in, the statute or regulations promulgated under Section 355(e) of the Code shall be incorporated in this definition and its interpretation. 

 

	 	(ii)	No Inconsistent Actions. Regardless of any change in circumstances, Knowles covenants and agrees that it shall not take any action (and it shall cause its Affiliates to refrain from taking any action) that is
inconsistent with any factual statements or representations made in connection with any Tax Opinion or the Tax Rulings on or before the second anniversary of the Distribution Date other than as permitted in this Section 4.02. For this purpose
an action is considered inconsistent with a representation if the representation states that there is no plan or intention to take such action. 

  

	 	(iii)	 Section 355(e). Without in any manner limiting paragraph (i) or (ii) of Section 4.02(a), Knowles covenants and agrees that,
through the second anniversary of the Distribution Date, it shall refrain from entering into (and it shall cause its Affiliates to refrain from entering into) any agreement, understanding, arrangement, or substantial negotiation with

  
 18 

	 	
respect to any transaction or event (including stock issuances, option grants, capital contributions, acquisitions, or changes in the voting power of any of its stock), that could reasonably be
expected to cause Section 355(e) of the Code to apply to the Distribution or any Internal Distribution. 

  

	(b)	Amended or Supplemental Rulings. Knowles covenants and agrees that it shall refrain from filing, and it shall cause its Affiliates to refrain from filing, a request for any amendment or supplement to the Tax Rulings
subsequent to the Distribution Date without the consent of Dover, which consent shall not be unreasonably withheld. 

  

	(c)	Tax Returns. Each of Dover and Knowles covenants and agrees that it shall refrain from taking, and it shall cause its Affiliates to refrain from taking, any position on a Tax Return that is inconsistent with
(i) the Tax treatment of the transactions provided by any Tax Opinion, (ii) the Contribution (and the contributions with respect to the Internal Distributions, if any) qualifying for Tax-free treatment under Section 361 of the Code,
(iii) the Tax treatment of the transactions provided by the Tax Rulings, or (iv) the documents effecting any transaction undertaken in connection with the Separation that is not addressed by any Tax Ruling or any Tax Opinion.

  

	(d)	Exception. Notwithstanding the foregoing, Knowles shall be permitted to take an action inconsistent with Section 4.02(a), if, prior to taking such action, Knowles provides notification to Dover of its plans with
respect to such action and promptly responds to any inquiries by Dover following such notification, and (unless Dover agrees otherwise in writing) either: 

  

	 	(i)	In case of an action affecting the Tax treatment of transactions described in any Tax Opinion, Knowles obtains an opinion, reasonably acceptable to Dover, of an independent nationally recognized Tax counsel, reasonably
acceptable to Dover, on the basis of facts and representations consistent with the facts at the time of such action, that such action will not affect the Tax treatment of the transactions provided by the Tax Opinion, or 

 

	 	(ii)	In case of an action affecting the Tax treatment of the Ruling Transactions, Knowles obtains: 

  

	 	(a)	a supplemental ruling with respect to the action from the relevant Tax Authority that is reasonably satisfactory to Dover (except that Knowles shall not submit any supplemental ruling request if Dover determines in good
faith that filing such request could have a materially adverse effect on Dover or any of its Affiliates), or 

  

	 	(b)	an opinion, reasonably acceptable to Dover, of an independent Tax counsel, reasonably acceptable to Dover, on the basis of facts and representations consistent with the facts at the time of such action, that such action
will not affect the Tax treatment of the transactions provided by the Tax Rulings. 

  
 19 

 Notwithstanding anything to the contrary in this Agreement, Knowles shall be responsible for, and
shall indemnify Dover and hold Dover harmless from, any Covered Transaction Tax resulting from a Specified Action of Knowles or any Knowles Affiliate, regardless of whether the exception of this Section 4.02(d) is satisfied with respect to such
act. 
  

	(e)	Duty to Mitigate Recognition or Recapture of Income. Prior to any event that may result in recognition or recapture of income (including under any gain recognition agreement entered into pursuant to Treasury Regulations
Section 1.367(a)-8), Dover and Knowles shall use (and shall cause the members of the Dover Group and Knowles Group, respectively, to use) all commercially reasonable efforts to eliminate such gain recognition or recapture of income or otherwise
avoid or minimize the impact thereof to the other party, including by the execution of an appropriate gain recognition agreement pursuant to Treasury Regulations Section 1.367(a)-8. 

 

	(f)	Dover shall provide to Knowles true and complete copies of all ruling requests, rulings, tax opinions, tax opinion representation letters and any supplement of such documents (including all exhibits and attachments
thereto) provided to or received from a Tax Authority or Tax counsel in connection with the Separation and Distribution by the later of (i) the Distribution Date or (ii) thirty (30) days of providing or receiving such document;
provided, however, that Dover shall not be required to provide to Knowles drafts of any such documents. 

 Section 4.03 No Continuing
Liability for Former Members. 
  

	(a)	Dover Affiliates. If a Dover Affiliate ceases to be a member of the Dover Group as a result of a sale or exchange of all of the stock of such member, other than an exchange for which the consideration received by Dover
is the stock of Dover or a Dover Affiliate, the departing Dover Affiliate shall be released from its obligations under this Agreement upon its departure from the Dover Group. 

 

	(b)	Knowles Affiliates. If a Knowles Affiliate ceases to be a member of the Knowles Group as a result of a sale or exchange of all of the stock of such member, other than an exchange for which the consideration received by
Knowles is the stock of Knowles or a Knowles Affiliate, the departing Knowles Affiliate shall be released from its obligations under this Agreement upon its departure from the Knowles Group. 

ARTICLE V 

MISCELLANEOUS PROVISIONS 

Section 5.01 Counterparts; Entire Agreement; Corporate Power; Facsimile Signatures. 

 

	(a)	Counterparts. This Agreement may be executed in more than one counterparts, all of which shall be considered one and the same agreement, and, except as otherwise expressly provided in Section 1.3 of the
Distribution Agreement, shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Parties. Execution of this Agreement or any other documents pursuant to this Agreement by facsimile
or other electronic copy of a signature shall be deemed to be, and shall have the same effect as, executed by an original signature. 

  
 20 

	(b)	Entire Agreement. This Agreement and the Distribution Agreement (including the schedules thereto) contain the entire agreement between the Parties with respect to the subject matter hereof, supersede all previous
agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such subject matter and there are no agreements or understandings between the Parties other than those set forth or referred to herein or
therein. It is the intention of the Parties that the Transfer Documents shall be consistent with the terms of this Agreement. In the event of any conflict between the Transfer Documents and this Agreement, the provisions of this Agreement shall
control. The Parties agree that the Transfer Documents are not intended and shall not be construed in any way to enhance, modify or decrease any of the rights or obligations of Dover, any Dover Affiliate, Knowles or any Knowles Affiliate from those
contained in this Agreement. 

  

	(c)	Corporate Power. Each of the Parties hereby represents and warrants that it has the power and authority to execute, deliver and perform this Agreement, that this Agreement has been duly authorized by all necessary
corporate action on the part of such Party, that this Agreement constitutes a legal, valid and binding obligation of each such Party enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other similar Laws affecting creditors’ rights generally and general equity principles. 

 Section 5.02 Governing
Law. This Agreement shall be governed by and construed in accordance with the internal Laws, and not the Laws governing conflicts of Laws (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law), of the State of New
York. 
 Section 5.03 Consent to Jurisdiction. Subject to the provisions of Section 5.18 of this Agreement, each of the Parties
irrevocably submits to the exclusive jurisdiction of (a) the Supreme Court of the State of New York, New York County, and (b) the United States District Court for the Southern District of New York (the “New York Courts”), for the
purposes of any suit, action or other proceeding to compel arbitration or for provisional relief in aid of arbitration in accordance with Section 5.18 or for provisional relief to prevent irreparable harm, and to the non-exclusive jurisdiction
of the New York Courts for the enforcement of any award issued thereunder. Each of the Parties further agrees that service of any process, summons, notice or document by United States registered mail to such Party’s respective address set forth
in Section 5.08 hereof shall be effective service of process for any action, suit or proceeding in the New York Courts with respect to any matters to which it has submitted to jurisdiction in this Section 5.03. Each of the Parties
irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in the New York Courts, and hereby further irrevocably and
unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. 

  
 21 

 Section 5.04 Injunctions. The Parties acknowledge that irreparable damage would occur in the
event that any of the provisions of this Agreement, including Section 4.02, were not performed in accordance with its specific terms or were otherwise breached. The Parties shall be entitled to an injunction or injunctions to prevent breaches
of the provisions of this Agreement, including Section 4.02, and to enforce specifically the terms and provisions hereof in any court having jurisdiction, such remedy being in addition to any other remedy to which they may be entitled at law or
in equity. 
 Section 5.05 Waiver of Jury Trial. SUBJECT TO SECTION 5.18 AND SECTIONS 5.03 AND 5.04 HEREIN, EACH OF THE PARTIES HEREBY
WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION. 
 Section 5.06 Assignability. The provisions of this Agreement and the obligations and rights hereunder shall be binding upon,
inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted transferees and assigns. Notwithstanding the foregoing, this Agreement shall not be assignable, in whole or in part, by any Party
without the prior written consent of the other Party, and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be null and void; provided, that (i) a Party may assign any or all of its rights
and obligations under this Agreement to any of its Affiliates, but no such assignment shall release the assigning Party from any liability or obligation under this Agreement and (ii) a Party may assign this Agreement in whole in connection with
a bona fide third party merger transaction in which such Party is not the surviving entity or the sale by such Party of all or substantially all of its Assets, and upon the effectiveness of such assignment under this clause (ii) the assigning
Party shall be released from all of its obligations under this Agreement if the surviving entity of such merger or the transferee of such Assets shall agree in writing, in form and substance reasonably satisfactory to the other Party, to be bound by
the terms of this Agreement as if named as a “Party” hereto. 
 Section 5.07 Third Party Beneficiaries. The provisions of this
Agreement are solely for the benefit of the Parties and their respective Subsidiaries, after giving effect to the Distribution, and their permitted successors and assigns, and are not intended to confer upon any Person except the Parties and their
respective Subsidiaries, after giving effect to the Distribution, and their permitted successors and assigns, any rights or remedies hereunder; and there are no other third-party beneficiaries of this Agreement and this Agreement shall not provide
any other Third Party with any remedy, claim, Liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

  
 22 

 Section 5.08 Notice. All notices, requests, claims, demands and other communications under
this Agreement and, to the extent applicable and unless otherwise provided therein, under each of the Ancillary Agreements, as between the Parties, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made
upon receipt unless the day of receipt is not a Business Day, in which case it shall be deemed to have been duly given or made on the next Business Day) by delivery in person, by overnight courier service, by facsimile with receipt confirmed
(followed by delivery of an original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be
specified in a notice given in accordance with this Section 5.08) 
 If to Dover: 

Dover Corporation 
 3005 Highland
Parkway 
 Downers Grove, Illinois 60515 

Attn: Kevin P. Buchanan 

Facsimile: 630-743-2671 
 With a
copy to: 
 Dover Corporation 

3005 Highland Parkway 
 Downers
Grove, Illinois 60515 
 Attn: Ivonne M. Cabrera 

Facsimile: 630-743-2671 
 If to
Knowles: 
 Knowles Corporation 

1151 Maplewood Drive 
 Itasca,
Illinois 60143 
 Attn: John Donovan 

Facsimile: 630-250-0575 
 With a
copy to: 
 Knowles Corporation 

1151 Maplewood Drive 
 Itasca,
Illinois 60143 
 Attn: Thomas Jackson 

Facsimile: 630-250-1295 
 Section 5.09
Severability. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be affected or impaired thereby, and the Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as
possible to that of the invalid, illegal or unenforceable provisions. 

  
 23 

 Section 5.10 No Set Off. Except as otherwise mutually agreed to in writing by the Parties,
neither Party nor any of its Subsidiaries shall have any right of set off or other similar rights with respect to (a) any amounts received pursuant to this Agreement; or (b) any other amounts claimed to be owed to the other Party or any of
its Subsidiaries arising out of this Agreement. 
 Section 5.11 Headings. Titles and headings to Sections and Articles are inserted for the
convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 Section 5.12
Survival of Covenants. Except as expressly set forth in this Agreement, the covenants and agreements of the Parties contained in this Agreement shall survive the Effective Time and shall remain in full force and effect without
limitation as to time. 
 Section 5.13 Affiliates. Each of the Parties shall cause (or with respect to an Affiliate that is not a
Subsidiary, shall use commercially reasonable efforts to cause) to be performed all actions, agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party or by any Business Entity that becomes a Subsidiary
or Affiliate of such Party on and after the Effective Time. 
 Section 5.14 Waivers of Default. The failure of any Party to require strict
performance by any other Party of any provision in this Agreement will not waive or diminish that Party’s right to demand strict performance thereafter of that or any other provision hereof. 

Section 5.15 Amendments. This Agreement may not be modified or amended except by an agreement in writing signed by each of the Parties.

 Section 5.16 Interpretation. Words in the singular shall be deemed to include the plural and vice versa and words of one gender shall
be deemed to include the other genders as the context requires. The terms “hereof,” “herein,” and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole
and not to any particular provision of this Agreement. Article, Section, Exhibit and Schedule references are to the Articles, Sections, Exhibits, and Schedules to this Agreement unless otherwise specified. Unless otherwise stated, all references to
any agreement shall be deemed to include the exhibits, schedules and annexes to such agreement. The word “including” and words of similar import when used in this Agreement shall mean “including, without limitation,” unless the
context otherwise requires or unless otherwise specified. The word “or” shall not be exclusive. Unless otherwise specified in a particular case, the word “days” refers to calendar days. References herein to this Agreement shall
be deemed to refer to this Agreement as of the date on which it is executed and as it may be amended, modified or supplemented thereafter, unless otherwise specified. References to the performance, discharge or fulfillment of any Liability in
accordance with its terms shall have meaning only to the extent such Liability has terms. If the Liability does not have terms, the reference shall mean performance, discharge or fulfillment of such Liability. 

Section 5.17 Advisors. Dover has selected Baker & McKenzie LLP and Skadden, Arps, Slate, Meagher & Flom LLP as counsel in
connection with the Distribution. Knowles acknowledges, for itself and each Knowles Affiliate, that Baker & McKenzie LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting in the capacity as counsel only to Dover in connection
with this Agreement and the provisions contemplated herein. 

  
 24 

 Section 5.18 Dispute Resolution. Any and all disputes between Dover and Knowles arising out of
any provision of this Agreement shall be resolved through the procedures provided in Article VIII of the Distribution Agreement. 
 Section 5.19
Payments. 
  

	(a)	Procedure for Requesting and Making Indemnification Payments. On the occurrence of an event for which a Party is entitled to receive indemnification hereunder, such Party (the “Indemnified Party”) shall send
the other Party (the “Indemnifying Party”) an invoice requesting payment accompanied by a statement describing in reasonable detail the amount owed and the particulars relating thereto. Unless a provision in this Agreement specifically
provides a different time for payment, the Indemnifying Party shall pay to the Indemnified Party any payment it owes to the Indemnified Party under this Agreement within thirty (30) days after the receipt of the invoice for such payment.

  

	(b)	Procedure for Making Other Payments. If a Party is responsible for any Tax under Section 2.01 (the “Responsible Party”) and such Tax must be remitted by the other Party (the “Remitting Party”),
the Remitting Party shall send the Responsible Party an invoice requesting payment accompanied by a statement describing in reasonable detail the amount owed and the particulars relating thereto. Unless a provision in this Agreement specifically
provides a different time for payment, the Responsible Party shall pay to the Remitting Party any payment it owes to the Remitting Party under this Agreement no later than thirty (30) days before the Remitting Party must remit the Tax to the
appropriate Tax Authority. 

  

	(c)	Character of Payments. For Tax purposes, the Parties agree to treat any payment pursuant to this Agreement in the same manner as a capital contribution by Dover to Knowles or an adjustment to the Contribution made in
the last taxable period beginning before the Distribution (or corresponding treatment with respect to any Internal Distribution) and, accordingly, as not includible in the gross income of the recipient and not deductible by the payor to the extent
allowed under Law. If pursuant to a Determination it is determined that the receipt or accrual of any payment made under this Agreement is subject to any Tax, the Party making such payment shall be responsible for the After-Tax Amount with respect
to such payment. The failure of a Party to include an After-Tax Amount in a demand for payment pursuant to this Agreement shall not be deemed a waiver by the Party of its right to receive an After-Tax Amount with respect to such payment.

  

	(d)	Interest on Late Payments. Unless a provision in this Agreement specifically provides otherwise, any payment required to be made pursuant to this Agreement that is not made on or before the due date for such payment
shall bear interest from the date after the due date to and including the date of payment at the Prime Rate plus two percent. Such interest shall be paid at the same time as the payment to which it relates. Any interest payable pursuant to this
paragraph that is not paid when due shall bear interest at the Prime Rate plus two percent. 

  
 25 

 Section 5.20 No Duplication. Any indemnification provided under this Agreement shall be
determined without duplication of recovery whether by operation of this Agreement, the Distribution Agreement or any other agreement entered into in connection with the Separation. 

Section 5.21 Mutual Drafting. The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be
construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted. 

* * * * * 

  
 26 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly
authorized representatives. 
  

													
	DOVER CORPORATION	 		 	KNOWLES CORPORATION.
					
	 By:  
	 	/s/ Ivonne M. Cabrera	 		 	By:  	 	/s/ Joseph W. Schmidt
		 	Name:	 	Ivonne M. Cabrera	 		 		 	Name:	 	Joseph W. Schmidt
		 	Title:	 	Senior Vice President, General Counsel & Secretary	 		 		 	Title:	 	Senior Vice President, General Counsel & Secretary

 [Signature Page to Tax Matters Agreement]

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