Document:

Pentair, Inc. Non-Qualified Deferred Compensation Plan

 Exhibit 10.15 
 PENTAIR, INC. 
 NON-QUALIFIED DEFERRED COMPENSATION PLAN 

As Amended and Restated Through September 28, 2012 

 TABLE OF CONTENTS 

 

									
	Article I HISTORY, PURPOSE AND EFFECTIVE DATE OF PLAN	  	 	1	  
		
	Article II DEFINITIONS AND CONSTRUCTION	  	 	3	  
		  	Section 2.1.	    	Definitions.	  	 	3	  
		  	Section 2.2.	    	Eligibility to Participate.	  	 	8	  
		  	Section 2.3.	    	Purpose.	  	 	9	  
		  	Section 2.4.	    	Construction.	  	 	9	  
		
	Article III PARTICIPANT DEFERRALS	  	 	10	  
		  	Section 3.1.	    	Election to Participate.	  	 	10	  
		  	Section 3.2.	    	Amount of Participant’s Deferrals.	  	 	11	  
		  	Section 3.3.	    	Payment of Deposits to Trustee.	  	 	12	  
		
	Article IV EMPLOYER CONTRIBUTIONS	  	 	13	  
		  	Section 4.1.	    	Employer Discretionary Contribution.	  	 	13	  
		  	Section 4.2.	    	Employer Matching Contribution.	  	 	13	  
		  	Section 4.3.	    	Limit on Compensation for Purposes of Employer Contributions.	  	 	14	  
		  	Section 4.4.	    	Payment of Deposits to Trustee.	  	 	14	  
		
	Article V TRUSTEE AND TRUST AGREEMENT	  	 	15	  
		  	Section 5.1.	    	Appointment.	  	 	15	  
		  	Section 5.2.	    	Fees and Expenses.	  	 	15	  
		  	Section 5.3.	    	Use of Trust.	  	 	15	  
		  	Section 5.4.	    	Responsibility and Authority for Fund Management.	  	 	15	  
		  	Section 5.5.	    	Trust Assets.	  	 	16	  
		
	Article VI INVESTMENT; PARTICIPANT’S ACCOUNTS	  	 	17	  
		  	Section 6.1.	    	Allocation and Reallocation of Before-Tax Deposits and Employer Contributions.	  	 	17	  
		  	Section 6.2.	    	Allocation of Deferred Equity Awards.	  	 	17	  
		  	Section 6.3.	    	Investment of Deposits and Employer Contributions.	  	 	18	  
		  	Section 6.4.	    	Participant’s Accounts.	  	 	19	  
		  	Section 6.5.	    	Beneficiaries.	  	 	19	  
		
	Article VII PAYMENT OF ACCOUNTS	  	 	20	  
		  	Section 7.1.	    	Time and Form of Payments.	  	 	20	  
		  	Section 7.2.	    	Distribution Due to Death.	  	 	21	  
		  	Section 7.3.	    	Payment of Employer Contributions.	  	 	21	  
		  	Section 7.4.	    	Later Payment Deferral Elections.	  	 	22	  
		  	Section 7.5.	    	Miscellaneous.	  	 	22	  
		
	Article VIII EMERGENCY WITHDRAWALS	  	 	23	  
		  	Section 8.1.	    	Restricted Withdrawals.	  	 	23	  

  
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	Article IX PLAN ADMINISTRATION	  	 	24	  
		  	Section 9.1.	    	Committee.	  	 	24	  
		  	Section 9.2.	    	Organization and Procedure.	  	 	25	  
		  	Section 9.3.	    	Delegation of Authority and Responsibility.	  	 	25	  
		  	Section 9.4.	    	Use of Professional Services.	  	 	25	  
		  	Section 9.5.	    	Fees and Expenses.	  	 	25	  
		  	Section 9.6.	    	Communications.	  	 	26	  
		  	Section 9.7.	    	Claims.	  	 	26	  
		
	Article X PLAN AMENDMENTS, PLAN TERMINATION, AND MISCELLANEOUS	  	 	27	  
		  	Section 10.1.	    	Amendments and Termination.	  	 	27	  
		  	Section 10.2.	    	Non-Guarantee of Employment.	  	 	28	  
		  	Section 10.3.	    	Rights to Trust Asset.	  	 	28	  
		  	Section 10.4.	    	Suspension of Rules.	  	 	28	  
		  	Section 10.5.	    	Requirement of Proof.	  	 	29	  
		  	Section 10.6.	    	Indemnification.	  	 	29	  
		  	Section 10.7.	    	Non-Alienation and Taxes.	  	 	29	  
		  	Section 10.8.	    	Not Compensation Under Other Benefit Plans.	  	 	30	  
		  	Section 10.9.	    	Savings Clause.	  	 	31	  
		  	Section 10.10.	    	Facility of Payment.	  	 	31	  
		  	Section 10.11.	    	Requirement of Releases.	  	 	31	  
		  	Section 10.12.	    	Board Action.	  	 	31	  
		  	Section 10.13.	    	Computational Errors.	  	 	31	  
		  	Section 10.14.	    	Unclaimed Benefits.	  	 	32	  
		  	Section 10.15.	    	Communications.	  	 	32	  
		
	Article XI TRANSITIONAL RULES	  	 	33	  
		  	Section 11.1.	    	Introduction.	  	 	33	  
		  	Section 11.2.	    	Amounts Deferred Under Prior Plan.	  	 	33	  

  
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 PENTAIR, INC. 
 NON-QUALIFIED DEFERRED COMPENSATION PLAN 
 ARTICLE I 

HISTORY, PURPOSE AND EFFECTIVE DATE OF PLAN 
 Effective January 1, 1993, Pentair, Inc. (“Pentair”) established a non-qualified deferred compensation plan (the “Plan”) for the benefit of certain management and highly
compensated employees of Pentair and various companies in the Pentair controlled group. Under the Plan as so initially established, eligible participants could elect to defer receipt of base and bonus compensation in exchange for the unfunded,
unsecured promise of the participant’s employing company to pay the amounts deferred, plus earnings, at the time and in the manner selected by the participant when making a deferral election. Until the time of payment, the amounts deferred
under the Plan, adjusted for any earnings credited with respect to those amounts, remain subject to the claims of the general creditors of the participant’s employing company. 

Pentair amended and restated the Plan, effective January 1, 1996, January 1, 1999, and January 1, 2002. As so amended
and restated, the Plan continued to permit eligible employees of Pentair and its affiliates to defer receipt of base and bonus compensation in exchange for the unsecured promise of the participant’s employing company to pay these amounts, as
adjusted for earnings or losses by reference to deemed investment options selected by each participant, and commencing January 1, 1996 provided for the replacement of benefits no longer available to certain participants under the Pentair
Retirement Savings and Stock Incentive Plan due to certain limitations imposed by the Internal Revenue Code of 1986. 
 Pentair
amended the Plan in 2005 to reflect the 2004 acquisition of the WICOR, Inc. group of companies, and the extension of the Plan in 2005 to eligible employees of such group, and to qualify generally the Plan, the elections made thereunder, and the
Plan’s administration, for amounts deferred and contributed for periods after 2004, by the provisions of Section 409A of the Internal Revenue Code of 1986 and guidance thereunder issued by the Internal Revenue Service. 

Pentair amended the Plan effective January 1, 2009, to reflect final Treasury Regulations under Section 409A of the Internal
Revenue Code of 1986, as well as certain other changes. This document governs amounts deferred on or after January 1, 2005. Amounts deferred prior to January 1, 2005, are governed by terms of the Plan as in effect on December 31,
2004, which are contained in a separate document. 
 Pentair amended and restated the Plan effective October 1, 2010, to
clarify the types of compensation that may be deferred under the Plan. 
 Pentair now hereby amends and restates the Plan to
reflect the effect of the merger (the “Merger”) contemplated by the Merger Agreement among the Company, Tyco International Ltd., Pentair Ltd., Panthro Acquisition Co. and Panthro Merger Sub, Inc., as amended, pursuant

 
to which, on September 28, 2012, the Company became an indirect wholly-owned subsidiary of Pentair Ltd. and the Company’s common stock was converted into the right to receive common
shares of Pentair Ltd. This amendment and restatement shall be effective immediately following the consummation of the Merger. 

The Plan is for the benefit of a select group of management and highly compensated employees. Benefits under the Plan are unfunded and
unsecured general obligations of Pentair and its participating affiliates. Plan participants have the status of unsecured general creditors of their employing company. Any assets acquired or set aside for purposes of providing or measuring, or both,
this deferred compensation may be held in a grantor trust as the property of the participant’s employing company and subject to the claims of its general creditors. To the extent any assets are held in a grantor trust, the terms and provisions
of the trust document will control in all cases where it is in conflict with the Plan. 

  
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 ARTICLE II 
 DEFINITIONS AND CONSTRUCTION 
 Section 2.1. Definitions. Unless the
context clearly or necessarily indicates the contrary, when capitalized the following words and phrases shall have the meanings shown when used in this Article or other parts of the Plan. 

(1) “Accounts” are the accounts under the Plan to be maintained for each Participant or the Beneficiary of a deceased
former Participant. 
 (2) “Administrator” is the person assigned by the Company or Committee to handle the
day-to-day administration of the Plan. 
 (3) “Base Compensation” includes the items of remuneration paid to or
on behalf of a Participant for services rendered to a Participating Employer as an Employee, as listed or described in the left-hand column of Schedule 1, but not including any such items listed or described in the right-hand column of Schedule 1.
If a remuneration item is not listed or described in Schedule 1, the Committee shall determine whether such item is included or excluded from Base Compensation by taking into account the nature of the item and its similarity to an item which is so
listed. 
 (4) “Before-tax Deposits” are compensation deferrals of Base Compensation and/or Bonus Compensation
made under the Plan at the election of a Participant pursuant to Article III. 
 (5) “Beneficiary” is the
individual, trust or other entity designated as such in writing by a Participant in accordance with applicable Plan provisions, or such person as otherwise determined under the Plan, to receive benefits accumulated hereunder in the event of the
Participant’s death. If a Participant is married at the time of death, the sole Beneficiary shall be the Participant’s Spouse at such time unless the Spouse has otherwise waived or released the right to be named as a beneficiary hereunder,
or to be considered as the Participant’s surviving Spouse for such purposes (e.g., an enforceable prenuptial agreement), as determined in the discretion of the Committee, or the Spouse has consented in writing to the designation of a different
Beneficiary and such consent is witnessed by an authorized Plan representative or a notary public. 
 (6) “Bonus
Compensation” is compensation awarded to a Participant pursuant to one of the plans listed on Schedule 2. Compensation awarded to a Participant under any other incentive plan shall not be treated as Bonus Compensation. 

(7) “Change in Control” or “CIC” is: 

 

	 	(i)	any one of the following occurring prior to or upon the consummation of the Merger: 

 

	 	(A)	When a person, or more than one person acting as a group, acquires more than fifty percent (50%) of the total fair market value or total voting power of the
Company’s stock; 

  
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	 	(B)	When a person, or more than one person acting as a group, acquires within a twelve (12) month consecutive period, ending with the date of the most recent stock
acquisition, stock of the Company possessing at least thirty percent (30%) of the total voting power of the Company’s stock; 

  

	 	(C)	When a majority of the members of the Company’s board of directors is replaced within a twelve (12) month period by directors whose appointment or election is
not endorsed by a majority of the members of such board as constituted before such appointment or election; or 

  

	 	(D)	When a person, or more than one person acting as a group, acquires within a twelve (12) month consecutive period assets from the Company or an entity controlled by
the Company that have a total gross fair market value equal to seventy-five percent (75%) of the total fair market value of the assets of the Company and all such entities. 

Once a person or group acquires stock meeting the thresholds set forth in paragraphs (A) and (B) immediately preceding,
additional acquisitions of such stock by that person or group shall be ignored in determining whether another CIC has occurred. Asset transfers between or among controlled entities as determined before such transfers shall not be considered in
applying paragraph (D) immediately preceding. This provision shall be interpreted and administered in a manner consistent with the definition of a “change of control” under Code section 409A. 

 

	 	(ii)	any one of the following occurring after the consummation of the Merger: 

  

	 	(A)	When a person, or more than one person acting as a group, acquires more than fifty percent (50%) of the total fair market value or total voting power of Pentair
Ltd.’s common shares; 

  

	 	(B)	When a person, or more than one person acting as a group, acquires within a twelve (12) month consecutive period, ending with the date of the most recent stock
acquisition, common shares of Pentair Ltd. possessing at least thirty percent (30%) of the total voting power of Pentair Ltd.’s common shares; provided that no such twelve (12) month period may include any period prior to the
consummation of the Merger; 

  

	 	(C)	 When a majority of the members of Pentair Ltd.’s board of directors is replaced within a twelve (12) month period by directors

  
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whose appointment or election is not endorsed by a majority of the members of such board as constituted before such appointment or election; provided that no such twelve (12) month period
may include any period prior to the consummation of the Merger; or 

  

	 	(D)	When a person, or more than one person acting as a group, acquires within a twelve (12) month consecutive period assets from Pentair Ltd. or an entity controlled
by Pentair Ltd. that have a total gross fair market value equal to seventy-five percent (75%) of the total fair market value of the assets of Pentair Ltd. and all such entities; provided that no such twelve (12) month period may include
any period prior to the consummation of the Merger. 

 Once a person or group acquires stock meeting the
thresholds set forth in paragraphs (A) and (B) immediately preceding, additional acquisitions of such stock by that person or group shall be ignored in determining whether another CIC has occurred. Asset transfers between or among
controlled entities as determined before such transfers shall not be considered in applying paragraph (D) immediately preceding. This provision shall be interpreted and administered in a manner consistent with the definition of a “change
of control” under Code section 409A. 
 (8) “Code” is the Internal Revenue Code of 1986, as amended and in
effect from time to time. Any reference to a specific provision of the Code shall be deemed to refer to successor provisions thereto and the regulations promulgated thereunder. 

(9) “Committee” is the Committee described in Article IX. 

(10) “Company” is Pentair, Inc., a Minnesota corporation, or any successor thereto. 

(11) “Disabled” or “Disability” is a physical or mental condition, resulting from physical or mental
sickness or injury, which prevents the individual while an Employee from engaging in any substantial gainful activity, and which condition can be expected to last for a continuous period of not less than twelve (12) months. For purposes of
applying Section 3.2(c), however, the immediately preceding sentence shall be applied by substituting “six (6) months” for “twelve (12) months.” 

(12) “Employee” is an individual who is (i) employed by a Participating Employer, (ii) a highly compensated or
key management employee of a Participating Employer as determined by the Committee, (iii) in an employment position or salary grade classified by the Company as eligible to participate in the Plan, and (iv) eligible to participate in the
RSIP. In the event an individual satisfies the foregoing requirements except he or she is not eligible to participate in the RSIP (e.g., an individual within an employee group to which the RSIP has not been extended), such individual may, in the
discretion of the Committee, be considered an Employee solely for purposes of allowing such individual to elect Before-tax Deposits and not for purposes of being eligible for Employer Contributions. 

  
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 (13) “Employer” is the Company and, except as prescribed by the Committee,
each other corporation or unincorporated business which is a member of a controlled group of corporations or a group of trades or businesses under common control (within the meaning of Code section 414(b) or (c)) which includes the Company, but with
respect to other business entities during only the periods of such common control with the Company. 
 (14) “Employer
Contributions” are amounts contributed under the Plan by Participating Employers pursuant to Article IV, and includes Employer Discretionary Contributions described in Section 4.1 and Employer Matching Contributions
described in Section 4.2. 
 (15) “Equity Awards” are stock-related awards granted under the Omnibus
Incentive Plan that are designated as eligible to be deferred under this Plan in the award letter or other document evidencing such award. 
 (16) “ERISA” is the Employee Retirement Income Security Act of 1974, as amended. Any reference to a specific provision of the Code shall be deemed to refer to successor provisions thereto
and the regulations promulgated thereunder. 
 (17) “Fair Market Value” has the meaning ascribed in the Omnibus
Incentive Plan. 
 (18) “Investment Fund” is a deemed investment made available by the Committee and selected
(or deemed selected) by a Participant for purposes of crediting investment earnings and losses to a Participant’s Account. 

(19) “Omnibus Incentive Plan” is (i) with respect to awards granted prior to the Merger, the Pentair Ltd. 2008
Omnibus Stock Incentive Plan (formerly known as the Pentair, Inc. 2008 Omnibus Stock Incentive Plan), as it may be amended from time to time, and (ii) with respect to awards granted on or after the Merger, the Pentair Ltd. 2012 Stock and
Incentive Plan, or any successor thereto, as it may be amended from time to time. 
 (20) “Participant” is an
individual who has validly elected to participate hereunder and who has elected Before-tax Deposits, deferrals of Equity Awards or is entitled to receive Employer Contributions. An individual who has become a Participant shall continue as a
Participant until the earlier of his or her death and the date the balance in his or her Account has been paid. 
 (21)
“Participating Employer” is the Company and each other Employer, except as otherwise prescribed by the Committee or the terms of any purchase agreement entered into with respect to the Company’s or an affiliates acquisition of
such Employer. 
 (22) “Performance-Based Compensation” is Bonus Compensation or Equity Awards the amount of
which, or the entitlement to which, is contingent on the satisfaction of preestablished organizational or individual performance criteria relating to a performance period of at least twelve (12) months. Goals are considered preestablished if
established in writing no later than ninety (90) days after the commencement of the performance period. Performance-Based Compensation does not include any amount or payment that will be paid either regardless

  
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of performance, or based upon a level of performance that is substantially certain to be met at the time the criteria is established. Notwithstanding the foregoing, Bonus Compensation or Equity
Awards will be considered Performance-Based Compensation if the compensation will be paid regardless of satisfaction of the performance goals in the event of the Participant’s death, Disability or a CIC, provided that payment under such
circumstances without regard to the satisfaction of the performance criteria will not constitute Performance-Based Compensation. 
 (23) “Plan Year” is the calendar year. 
 (24)
“Pre-Deferral Compensation” is the combined amount of Base and Bonus Compensation which would have been paid in a Plan Year but for a Before-tax Deposit election hereunder or a before-tax deposit election under the RSIP, or both.

 (25) “Retirement” is an individual’s Separation from Service on or after the attainment of age
fifty-five (55) and the completion of at least ten (10) years of service with one or more Employers. 
 (26)
“RSIP” is the Pentair, Inc. Retirement Savings and Stock Incentive Plan, as amended, or any successor plan thereto. 
 (27) “Separation from Service” is the termination of employment as an employee, from all business entities that comprise the Employer, for reasons other than death or Disability. A
Participant will be deemed to have incurred a Separation from Service when the level of bona fide services performed by the Participant for the Employer permanently decreases to a level equal to twenty percent (20%) or less of the average level
of services performed by the Participant for the Employer during the immediately preceding thirty-six (36) month period (or such lesser period of service). Notwithstanding the foregoing, a Participant on a bona fide leave of absence from an
Employer shall be considered to have incurred a Separation from Service no later than the six (6) month anniversary of the absence (or twenty-nine (29) months in the event of an absence due to a Disability described in the last sentence of
Section 2.1(11)) or the end of such longer period during which the individual has the right by law or agreement to return to employment upon the expiration of the leave. Notwithstanding the foregoing, if following the Participant’s
termination of employment from the Employer the Participant becomes a non-employee director or becomes or remains a consultant to the Employer, then the date of the Participant’s Separation from Service may be delayed until the Participant
ceases to provide services in such capacity to the extent required by Code section 409A. 
 (28) “Share” is,
following the consummation of the Merger, a registered share of Pentair Ltd., nominal value CHF 0.50. No Shares have been authorized for issuance under this Plan. All Shares payable under this Plan are issued from the Omnibus Incentive Plan.

 (29) “Share Unit Fund” is the Investment Fund described in Section 6.2(b), which is deemed invested in
Shares. The Share Unit Fund shall be used solely as a means to track deferrals of Equity Awards. 
 (30) “Share
Unit” is a unit that has a value equal to one Share. 

  
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 (31) “Specified Employee” is a Participant who is a key employee for a Plan
Year, with such status as to that period becoming effective as of April 1st next following such Plan Year and lasting until the following April 1st. A key employee is an employee of an Employer who (i) at any time during the Plan Year
owns at least five percent (5%) of the stock (or capital or profits interest) of an Employer, (ii) owns one percent (1%) of the stock (or capital or profits interest) of an Employer and whose compensation exceeds the dollar limit for
such period described in Code section 416(1)(iii), or (iii) is an officer of an Employer and whose compensation exceeds the dollar limit for such period described in Code section 416(1)(i), as adjusted. No more than the lesser of fifty
(50) employees or ten percent (10%) of all employees shall be treated as officers for that period by reason of clause (iii) immediately preceding. In the event the number of officers exceeds such number, the employees included in such
number will be those with the highest compensation for that period. 
 (32) “Spouse” is an individual, of a sex
opposite to that of a Participant, whose marriage to a Participant is recognized under the laws of the United States (or one of the United States) or any other generally recognized jurisdiction. 

(33) “Trust” is the Pentair, Inc. Non-Qualified Deferred Compensation Plan Trust. 

(34) “Trustee” is the person appointed as the trustee under the Trust. 

(35) “Unforeseeable Emergency” is a severe financial hardship to the Participant resulting from: an illness or accident
to the Participant or his or her Spouse or tax-dependent; the loss of a home due to an uncompensated (by insurance or otherwise) casualty; and other similar extraordinary and unforeseeable circumstances beyond the control of the Participant.

 (36) “Valuation Date” is, with respect to Investment Funds which correspond to funds available under the
RSIP, a date as of which such corresponding funds are valued under the RSIP; with respect to other Investment Funds, it is the last day of each Plan Year and such other dates as are prescribed by the Committee. 

Section 2.2. Eligibility to Participate. 
 (a) Eligibility to Make Before-tax Deposits and Deferrals of Equity Awards. Subject to the provisions of Article III, all Employees are eligible to elect Before-tax Deposits and to defer Equity
Awards. 
 (b) Eligibility for Employer Contributions. Employees eligible to receive an Employer Discretionary
Contribution for a Plan Year are described in Section 4.1(a), and Employees eligible to receive an Employer Matching Contribution for a Plan Year are described in Section 4.2(a). 

(c) Suspension of Eligibility. (1) Failure to Qualify as an Employee. Once an individual becomes an Employee, such
individual shall remain an Employee, regardless of the identity of his or her Participating Employer, so long as he or she continues to be described in Section 2.1(12). In the event an individual becomes an Employee and thereafter remains

  
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employed by an Employer but not as an Employee or such Employer is not then a Participating Employer, except as directed by the Committee such individual’s eligibility to elect Before-tax
Deposits or deferrals of Equity Awards shall be suspended at the end of the Plan Year in which such status change occurs and such individual’s eligibility to receive an allocation of Employer Contributions shall be suspended immediately on the
date such status change occurs. 
 (2) Resumption. Upon resuming status as an Employee, an individual whose eligibility
to participate in the Plan has been suspended may again elect Before-tax Deposits or deferrals of Equity Awards under the Plan pursuant to the provisions of Article III. 
 Section 2.3. Purpose. As a tax-qualified plan, the RSIP is subject to various Code provisions which limit artificially the contributions which can be made on behalf of participants. The Plan is
designed to offer the same contribution formulas (without duplication) as are offered under the RSIP but without regard to such Code provisions, including Code sections 401(a)(17) (compensation cap), 401(k) and 401(m) (annual discrimination tests
and related rules for elective and matching contributions), 402(g) and 414(v) (annual dollar limit on elective contributions), and 415(c) (limit on annual additions). In addition, the Plan is designed to offer participants the ability to defer
certain items of compensation that would not be able to be deferred under the RSIP, such as equity awards granted under the Omnibus Incentive Plan. It is intended that all Accounts represent retirement income within the meaning of 4 USC §
114(b)(1)(I)(ii) if paid after termination of employment. The Plan is not solely intended to provide benefits in excess of the Code section 415 limits, however, and therefore it is not an “excess benefit plan” as defined in ERISA section
3(36). 
 Section 2.4. Construction. 
 (a) General. Wherever any words are used herein in the singular, masculine, feminine or neuter form, they shall be construed as though they were used in the plural, feminine, masculine or
non-neuter form, respectively, in all cases where such interpretation is reasonable. The words “hereof ,” “herein,” “hereunder,” and other similar compounds of the word “here” shall mean and refer to this
entire document and not to any particular Article or Section. Titles of Articles and Sections are for general information only, and the Plan is not to be construed by reference thereto. 

(b) Applicable Law. To the extent not preempted by ERISA or any other federal statute, the Plan shall be construed and its
validity determined according to the substantive laws of the State of Minnesota, without reference to conflict of law principles thereof. In case any provision of the Plan shall be held illegal or invalid for any reason, the Plan shall be construed
and enforced as if it did not include such provision. 

  
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 ARTICLE III 
 PARTICIPANT DEFERRALS 
 Section 3.1. Election to Participate.

 (a) General. (1) Annual Election. Prior to January 1 of each Plan Year, an Employee may elect:
(A) to make Before-tax Deposits from his or her Base Compensation that will be earned and paid in such Plan Year, (B) to make Before-tax Deposits from his or her Bonus Compensation that will be earned (or begin to be earned) in such Plan
Year, (C) to defer all or a portion of his or her Equity Awards that will be granted in such Plan Year (for this purpose, an Equity Award shall be considered granted when the Company takes action to approve such grant), and (D) the form
and time of distribution of the Account with respect to such Plan Year, as permitted by Section 7.1(b). Such election shall be made as of the times the Committee may prescribe and shall be irrevocable as of December 31 of the year
immediately preceding the Plan Year for which such elections are effective. 
 (2) Mid-Year Elections: Bonus Compensation or
Equity Award. If and to the extent allowed by the Committee, an Employee also may elect Before-tax Deposits from his or her Bonus Compensation and may elect to defer all or a portion of his or her Equity Awards as follows: 

 

	 	(i)	If the Bonus Compensation or Equity Award qualifies as Performance-Based Compensation, the election may be made no later than six (6) months before the end of the
performance period; or 

  

	 	(ii)	If the Bonus Compensation or Equity Award is subject to a substantial risk of forfeiture that will not lapse until at least thirteen (13) months after the date of
award or grant (or earlier upon death, Disability or a CIC), the election may be made no later than the first thirty (30) days after the date of award or grant; provided that if the Bonus Compensation actually vests within the first thirteen
(13) months by reason of the Employee’s death, Disability, or a CIC, then the deferral election shall be cancelled; or 

  

	 	(iii)	If the Bonus Compensation or Equity Award is subject to a substantial risk of forfeiture that will not lapse until at least one year after the date of grant, the
election may be made at least one year prior to the date such award will vest, provided that the amount is deferred for a minimum of five (5) years from the date the Bonus Compensation or Equity Award vests. 

Such election shall be made as of the times the Committee may prescribe and shall be irrevocable as of the latest date permitted
hereunder. If an Employee has not previously elected a time and form of distribution with respect to the Account to which the deferrals described herein will be credited, he or she may do so as part of his or her deferral election hereunder.

  
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 (b) Participation During Plan Year. 

(1) Initial Participation. An Employee who first becomes eligible to participate in the Plan during a Plan Year may elect, within
the first thirty (30) days of becoming so eligible, (A) Before-tax Deposits from his or her Base Compensation for that Plan Year earned and paid after such election, and (B) the form and time of distribution of the Account with
respect to such Plan Year, as permitted by Section 7.1(b). Such individual may also make the elections described in Section 3.1(a)(2), if applicable. 
 (2) Resumption of Participation. An individual who has been eligible to participate in the Plan, who loses such eligibility by reason of a Separation from Service or otherwise, and who again
becomes eligible to participate in the Plan, shall not be eligible to participate in the Plan for purposes of authorizing Before-tax Deposits or deferrals of Equity Awards, and shall not be eligible to receive an allocation of Employer
Contributions, for the Plan Year in which he or she again becomes so eligible unless he or she (i) has not been eligible to make Before-tax Deposits or deferrals of Equity Awards for two (2) or more consecutive years or (ii) has
previously incurred a Separation from Service and been paid all benefits under the Plan after such separation and before again becoming eligible for the Plan. 
 Section 3.2. Amount of Participant’s Deferrals. 
 (a) Deferral
Elections. At the time an Employee elects to make Before-tax Deposits or defer an Equity Award for a Plan Year, he or she shall designate the percentage of Base Compensation, Bonus Compensation, or Equity Awards to be deferred. Except as
described subsection (c), the percentage elected shall be irrevocable with respect to the compensation to which it relates. In the event a payroll period with respect to Base Compensation straddles the end of a Plan Year, the election, if any, to
defer for the Plan Year in which the payroll period ends shall control the amount or rate to be deferred. 
 (b) Maximum
Deferrals and Coordination with the RSIP. The maximum deferrals which may be elected by a Participant for a Plan Year shall be established from time to time by the Committee and may be expressed as a maximum amount or percentage. Different
maximums may be applied to deferrals of Base, Bonus Compensation, and Equity Awards or different items of Bonus Compensation and Equity Awards. Such maximums shall be established before a Plan Year and shall apply throughout that year, or shall
apply to the award to which the maximum relates. Any such maximums on Base and Bonus Compensation shall be first absorbed by Before-tax Deposits and then, to the extent the maximum has not been reached, by before-tax deposits under the RSIP.

 (c) Intra-Year Cessation of Before-tax Deposits. In the event a Participant dies, becomes Disabled, or, as directed by
the Committee, applies for and is granted a distribution pursuant to Article VIII, Before-tax Deposits on behalf of such Participant for the balance of the Plan Year shall be suspended. The suspension shall be effective no later than the second
payroll period ending after the Participant’s death; two and one-half (2-1/2) months after the Participant becomes Disabled; or the second payroll period ending after the Committee approves the distribution and directs the suspension, whichever
is applicable. 

  
 11 

 Section 3.3. Payment of Deposits to Trustee. Unless otherwise directed by the
Committee, a Participating Employer shall remit amounts withheld as Before-tax Deposits to the Trustee as soon as administratively feasible after such amounts are withheld. In the event the Committee so otherwise directs or if the Trust (or some
other funding arrangement) does not then exist, then the amounts so withheld shall be retained by the Participating Employer as part of its general assets and, in order to determine investment earnings and losses thereon, shall be allocated to one
or more Investment Funds as determined by the Committee no later than the first day of the second calendar month immediately following the calendar month of such withholding. 

  
 12 

 ARTICLE IV 
 EMPLOYER CONTRIBUTIONS 
 Section 4.1. Employer Discretionary
Contribution. 
 (a) Eligibility for Employer Discretionary Contributions. Employees eligible to receive an Employer
Discretionary Contributions for a Plan Year shall be those individuals 
  

	 	(i)	eligible to elect Before-tax Deposits for that year; 

  

	 	(ii)	who are eligible to receive an employer discretionary contribution under the RSIP for that year; 

 

	 	(iii)	whose covered compensation under the RSIP for that Plan Year is: 

  

	 	(1)	actually limited by the applicable dollar amount provided for under Code section 401(a)(17), or 

 

	 	(2)	reduced by reason of Before-tax Deposits; and 

  

	 	(iv)	who are employed by an Employer as of the end of that Plan Year; provided, however, that such year-end employment shall not be required for the year in which employment
ends due to death, Disability, or Retirement. 

 (b) Amount of Discretionary Contribution. Participating
Employers shall make an Employer Discretionary Contribution on behalf of their eligible Employees for a Plan Year in an amount equal to (i) the employer standard discretionary contribution rate in effect under the RSIP for the Plan Year (as
determined by the Committee) multiplied by the eligible Employee’s Pre-Deferral Compensation for the Plan Year, up to the applicable dollar limit under Section 4.3, less (ii) the employer standard discretionary contribution (as
determined by the Committee) made on behalf of such Employee to the RSIP for that year. 
 Section 4.2. Employer
Matching Contribution. 
 (a) Eligibility for Employer Matching Contributions. Employees eligible to receive an
Employer Matching Contribution for a Plan Year shall be those individuals 
  

	 	(i)	who are eligible to receive an employer matching contribution under the RSIP for such year; 

 

	 	(ii)	whose covered compensation under the RSIP for that Plan Year is: 

  

	 	(1)	actually limited by the applicable dollar amount provided for under Code section 401(a)(17), or 

 

	 	(2)	reduced by reason of Before-tax Deposits; and 

  
 13 

	 	(iii)	who are employed by an Employer as of the end of that Plan Year; provided, however, that such employment shall not be requested for the year in which such employment
ends due to death, Disability, or Retirement. 

 (b) Amount of Matching Contribution. With respect to each
Employee eligible to receive an Employer Matching Contribution for a Plan Year, that Employee’s Participating Employer shall contribute a matching contribution equal to A - B, where A equals the matching contribution which would have been made
on his or her behalf under the RSIP for that year assuming: 
  

	 	(i)	the covered compensation limit thereunder was the applicable dollar limit for that year under Section 4.3, 

 

	 	(ii)	the provisions of Code sections 401(k) and (m), 402(g), 414(v), and 415(c) (and any similar or analogous Code limits on the amount or rate of contributions under the
RSIP) did not apply, 

  

	 	(iii)	all Before-tax Deposits for such year had been made for that year under the RSIP, 

 

	 	(iv)	covered compensation thereunder included Before-tax Deposits made with respect to that year, and 

 B equals the matching contributions made on his or her behalf under the RSIP for that year. In determining B, payment of the matching contribution to the Employee under the RSIP to satisfy Code section
401(m) shall be ignored but any forfeiture of such contribution shall, if in fact taken into account in determining B, reduce B. 
 Section 4.3. Limit on Compensation for Purposes of Employer Contributions. The maximum amount of the aggregate of a Participant’s Base Compensation and Bonus Compensation that will be
considered for purposes of determining Employer Contributions shall be established from time to time by the Committee and shall be communicated to the Participants. For the Plan Year beginning January 1, 2008, the maximum amount of the
aggregate of a Participant’s Base Compensation and Bonus Compensation for purposes of determining Employer Contributions shall be $700,000. 
 Section 4.4. Payment of Deposits to Trustee. Unless otherwise directed by the Committee, a Participating Employer shall pay its share of the Employer Contributions for a Plan Year as soon as
administratively feasible after the entire Employer Contribution for such year has been determined. In the event the Committee so otherwise directs or if the Trust (or some other funding arrangement) does not then exist, then such share shall be
retained by the Participating Employer as part of its general assets and, in order to determine investment earnings and losses thereon, shall be allocated to one or more Investment Funds as determined by the Committee no later than the first day of
the calendar month immediately following the calendar month in which such entire Contribution has been determined. 

  
 14 

 ARTICLE V 
 TRUSTEE AND TRUST AGREEMENT 
 Section 5.1. Appointment.

 (a) General. The Plan is an unfunded deferred compensation arrangement. Neither the Company nor any Participating
Employer shall be required to establish a trust or to in any way segregate assets for purposes of funding or otherwise providing benefits under the Plan. The Company may, however, in its sole discretion, establish and maintain an unfunded grantor
trust with one or more persons selected by the Committee to act as Trustee. If a Trustee is so appointed, such Trustee shall hold, manage, administer and invest the assets of the Trust, reinvest any income, and make distributions in accordance with
the directions of the Committee and the provisions of the Plan and Trust. The trust agreement shall be in such form and contain such provisions as the Committee deems necessary and appropriate to effectuate the purposes of the Plan. The terms and
provisions of the trust agreement shall control in case of a conflict between the terms and provisions of such agreement and the terms and provisions of the Plan. 
 (b) Removal and Resignation. Pursuant to the notice requirements and other procedures contained in the Trust agreement, and in accordance with the Trust agreement, the Committee may, at any time
and from time to time, remove a Trustee or any successor Trustee and any such Trustee or any successor Trustee may resign. If the provisions of the Trust agreement remain in effect at the time of removal or resignation of the Trustee, the Committee
shall appoint a successor Trustee. 
 Section 5.2. Fees and Expenses. Except as directed by the Company, the
Trustee’s fee, and related fees and expenses, shall be paid by the Company and Participating Employers. Brokerage fees, asset-based fees for custodial, investment and management services, and other investment expenses (e.g., participant
record-keeping fees) which relate to Investment Funds, shall be paid out of the Trust and charged to the fund of the Trust and the Accounts of the Participant to which such fees and costs are attributable. 

Section 5.3. Use of Trust. To the extent any assets are held in the Trust, such assets shall at all times be the property of the
Company or a Participating Employer and, as such, shall remain subject to the claims of general creditors of the Company or the Participating Employer, as the case may be, in the event of bankruptcy or insolvency. No Participant or Beneficiary shall
by reason of the Plan and Trust have any rights to any assets of the Trust, the Company or a Participating Employer nor to Investment Funds or other property generally, and neither the existence of the Plan nor the establishment of a Trust shall be
interpreted or construed as a guaranty that any funds which may be held in trust will be available or sufficient for the payment of benefits under the Plan. 
 Section 5.4. Responsibility and Authority for Fund Management. The Company may, in its sole discretion, establish and maintain a funding policy, and may delegate to the Committee the following
duties and authority: 
  

	 	(i)	to establish Investment Funds for purposes of crediting investment earnings and losses to Accounts, including the authority to add to or change the number and nature of
the Investment Funds from time to time; 

  
 15 

	 	(ii)	to direct the investment and reinvestment of all or any portion of the assets, if any, held by the Trustee under the Trust; and 

 

	 	(iii)	to periodically review the performance of the Investment Funds. 

 Section 5.5. Trust Assets. Neither the Company, a Participating Employer nor the Trustee shall be obligated to purchase any asset or Investment Fund designated by a Participant pursuant to the
provisions of Article VI for purposes of crediting investment earnings and losses to such Participant’s Accounts. To the extent the Company and Participating Employers remit Before-tax Deposits or Employer Contributions to the Trustee, however,
and the Investment Fund designated by the Participant as a deemed investment for his or her Accounts consists of an asset which the Trustee cannot purchase or an investment which is not readily available on the open market, the Trustee shall,
subject to the direction of the Committee, return any such amounts to the Company and Participating Employers in the form of cash. To the extent a Participant reallocates all or a portion of the balance in his or her Accounts into an Investment Fund
which consists of an asset the Trustee cannot purchase, the Trustee shall withdraw from the Trust cash equal to the fair market value of such investment designation and return such cash to the Company or other Participating Employers. 

  
 16 

 ARTICLE VI 
 INVESTMENT; PARTICIPANT’S ACCOUNTS 
 Section 6.1. Allocation
and Reallocation of Before-Tax Deposits and Employer Contributions. 
 (a) Allocation. For purposes of crediting
earnings to his or her Accounts, a Participant shall elect to allocate Before-tax Deposits and Employer Contributions to one or more of the Investment Funds. A Participant may elect to change the mix of such allocations in accordance with rules
prescribed by the Committee. An election under this Section 6.1(a) shall remain in effect unless changed by the Participant; provided, however, that neither the Company, a Participating Employer, the Committee nor the Trustee shall be obligated
to purchase any investment designated by a Participant. Investment Funds are selected by a Participant solely for purposes of determining the investment earnings and losses to be credited to a Participant’s Accounts. 

(b) Reallocation. In accordance with rules prescribed by the Committee, a Participant may reallocate the balance credited to his
or her Accounts among the available Investment Funds. Any such reallocation shall apply to the entire balance of such Accounts attributable to participation in the Plan, and not just to Before-tax Deposits and Employer Contributions made subsequent
to such reallocation. 
 (c) Participant-Directed Investment. (1) General. The availability of Investment
Funds for purposes of crediting earnings to Accounts is not a recommendation to designate a deemed investment in any one Investment Fund. The selection of deemed investments is solely the responsibility of each Participant. No officer, employee or
other agent of an Employer or the Trustee is authorized to advise or make any recommendation concerning the selection of Investment Funds and no such person is responsible for determining the suitability or advisability of any such selection.

 (2) Participant Responsibility. Participants shall be solely responsible for selecting, monitoring, and changing the
Investment Funds in or by which their Account balances are invested. Neither the Company, a Participating Employer, Committee member, nor the Administrator shall be responsible for such investment decisions. To the extent a Participant does not
expressly exercise investment discretion over his or her Accounts, he or she shall be deemed to have elected to direct investments to or by the same Investment Fund used for such purposes under the RSIP, except as otherwise provided by the
Committee. 
 Section 6.2. Allocation of Deferred Equity Awards. 

(a) Allocation. Deferrals of Equity Awards shall be automatically allocated to the Share Unit Fund on the date of vesting, unless
otherwise determined by the Committee. A Participant shall not have the right to re-allocate such deferrals out of the Share Unit Fund. 
 (b) Share Unit Fund. A deferral of an Equity Award shall be allocated to the Share Unit Fund as follows: (i) if the deferral relates to Shares, or Equity Awards whose value equals the Fair
Market Value of a Share, the Participant’s Account shall be credited with a number of Shares Units equal to the number of Shares (or Share-related Equity Awards) 

  
 17 

 
deferred, or (ii) if the deferral relates to cash (such as dividend equivalents), such amount shall be converted to whole and fractional Share Units, with fractional units calculated to
three decimal places, by dividing the amount to be allocated by the Fair Market Value of a Share on the effective date of such allocation. If any dividends or distributions (other than in the form of Shares) are paid on Shares while a Participant
has Share Units credited to his Account, such Participant shall be credited with additional Shares Units equal to the amount of the cash dividend paid or Fair Market Value of other property distributed on one Share, multiplied by the number of Share
Units credited to the Participant’s Account on the date the dividend is declared. Any other provision of this Plan to the contrary notwithstanding, if a dividend is paid on Shares in the form of a right or rights to purchase shares of capital
stock of the Company or any entity acquiring the Company, no additional Share Units shall be credited to the Participant’s Account with respect to such dividend, but each Share Unit credited to a Participant’s Account at the time such
dividend is paid, and each Share Unit thereafter credited to the Participant’s Account at a time when such rights are attached to Shares, shall thereafter be valued as of any point in time on the basis of the aggregate of the then Fair Market
Value of one Share plus the then Fair Market Value of such right or rights then attached to one Share. 
 (c) Transactions
Affecting Common Stock. In the event of any transaction affecting Shares that would cause an adjustment to be made under the adjustment provisions of the Omnibus Incentive Plan, the Committee may make appropriate equitable adjustments with
respect to the Share Units credited to the Account of each Participant, including without limitation, adjusting the date as of which such units are valued and/or distributed, as the Committee determines is necessary or desirable to prevent the
dilution or enlargement of the benefits intended to be provided under the Plan. 
 (d) No Shareholder Rights With Respect to
Share Units. Participants shall have no rights as a stockholder pertaining to Share Units credited to their Accounts. 

Section 6.3. Investment of Deposits and Employer Contributions. The Committee may, in its discretion, direct the Trustee to invest
a Participant’s Before-tax Deposits and Employer Contributions in the Investment Funds designated by the Participant, to the extent such investment is available on the open market and can be purchased by the Trustee and owned by the Trust.
Regardless of whether any deposits or Employer Contributions are actually invested in the Investment Funds designated by Participants, however, the Committee shall maintain a bookkeeping account on behalf of each Participant to which shall be
credited the investment results of each Investment Fund so designated to adjust the amounts in each Participant’s Accounts. At least each calendar quarter, the Committee shall make available or cause to be made available a report or other
information indicating the increase or decrease in the value of each Participant’s Accounts. Any earnings of an Investment Fund shall be deemed to be reinvested in the same Investment Fund for purposes of maintaining a Participant’s
Accounts. 

  
 18 

 Section 6.4. Participant’s Accounts. 

(a) Establishment of Accounts. Separate Accounts shall be established and maintained for each Participant by Plan Year and
Investment Fund. To the extent necessary or appropriate to provide for proper administration of the Plan, including the tracking of payment date and form elections, a Participant’s Account for a Plan Year shall include separate balances or
subaccounts for interests derived from Before-tax Deposits, deferred Equity Awards, Employer Contributions and such other separate balances as the Committee shall determine. The Committee shall also identify or otherwise maintain separate Accounts
or subaccounts for Participants by reference to the identity of the Participant’s Employer, to the extent practicable. 

(b) Crediting of Accounts. The appropriate Accounts of each Participant shall be credited with the amounts of Before-tax Deposits,
deferred Equity Awards and Employer Contributions made for each Plan Year. The reallocation of a Participant’s Accounts, if permitted, shall be appropriately credited as of the Valuation Date coincident with or next following the effective date
of the reallocation. The maintenance of such Accounts shall not, however, entitle a Participant to any ownership, preferred claim or beneficial interest in any Investment Fund or in any specific asset of the Trust. Investment Funds are deemed
investments and used solely for purposes of determining the earnings and losses to be credited to a Participant’s Accounts. 
 (c) Vesting of Accounts. A Participant’s Account shall be fully vested, except that the portion of the Account arising from the deferral of an Equity Award shall vest in accordance with the
terms of the Equity Award to which it relates. 
 Section 6.5. Beneficiaries. The foregoing provisions of this Article VI
shall be applied, to the extent relevant, with respect to Accounts payable under the Plan to a Beneficiary of a deceased former Participant. 

  
 19 

 ARTICLE VII 
 PAYMENT OF ACCOUNTS 
 Section 7.1. Time and Form of Payments.

 (a) General. Except as otherwise provided in the Plan, a Participant shall receive his or her entire vested
Account balance allocable to a Plan Year in a lump sum within ninety (90) days of the first to occur of his or her (i) Separation from Service, (ii) Disability, or (iii) a CIC. In the event the payment event is due to a
Separation from Service and as of the date of the Separation from Service the Participant is a Specified Employee, however, the lump sum shall be paid within thirty (30) days after the six (6) month anniversary of such date. 

(b) Election of Distribution. A Participant may elect, in accordance with Section 3.1 and subject to such limitations as may
be prescribed by the Committee, to receive distribution of his or her vested Account balance allocable to a Plan Year: 
 (1)
Time of Payment. As of one specific future date, provided such date is at least two (2) years following the last date by which such an election can be made for that year (or with respect to the portion of the Account relating to an
Equity Award, the date the award is fully vested, if later) and such date cannot be more than five (5) years after the earlier of the date the Participant becomes Disabled and the date he or she has a Separation from Service. In the event the
date finally selected is less than two (2) years, the Participant shall be treated as having not made a specific date election for that year, or, by reason of subsequent event, is more than five (5) years after the relevant date, the
Participant shall be treated as having selected the fifth (5th) anniversary of such date as the date of payment. Except as provided in Section 8.5, such an election once finally effective cannot be changed by the Participant. 

(2) Calculation of Payment. In annual installments over five (5) or ten (10) years. Each such installment shall be
determined by using the vested Account balance for such year as of the most recent Valuation Date before the payment date and dividing such balance by the number of years left in the installment period and the final installment shall include the
remaining vested Account balance. The second year and later installments shall be paid, as far as practicable, on the anniversary date of the first installment. Except as provided in Section 7.4, such an election once finally effective cannot
be changed by the Participant. In the event the payment event is due to a Separation from Service, and as of the date of Separation from Service the Participant is a Specified Employee, however, the first installment payment may not be made until
after the six (6) month anniversary of such date. 
 (c) Form of Payment. All payments made under a
Participant’s Account, other than from the Share Unit Fund, shall be made in cash. Payment from the Share Unit Fund shall be distributed in the form of Shares, with each whole Share Unit being paid in the form of one Share. Fractional Share
Units shall be distributed in cash by multiplying the fractional Share Unit by the Fair Market Value of a Share immediately prior to the date of payment. All Shares payable under the Plan shall be issued from the relevant Omnibus Incentive Plan.

  
 20 

 Section 7.2. Distribution Due to Death. 

(a) Death Benefit. If a Participant dies before receiving payment of all of the vested amounts allocated to his or her Accounts,
then notwithstanding the payment dates or forms of payment elected, and regardless of whether the Participant had Separated from Service before death or was a Specified Employee as of such separation, all such unpaid benefits shall be paid to his or
her Beneficiary within ninety (90) days of the date of death. Notwithstanding the foregoing, the Employer shall not be obligated to make payment to a Beneficiary (and will not be liable for any failure to make distribution within ninety
(90) days of the date of death) unless and until the Committee has verified the identity of the Beneficiary and the Beneficiary has established the right to receive payment of such benefits. 

(b) Default. If a Participant fails to make a valid Beneficiary designation, makes such a designation but is not survived by any
named Beneficiary, or makes such a designation but the designation does not effectively dispose of all benefits payable after the Participant’s death, then, to the extent benefits are payable after the Participant’s death, all such
benefits shall be paid to the Participant’s Spouse (if the Spouse survives the Participant), or if the Participant has no Spouse or such Spouse does not survive the Participant, the personal representative or equivalent of the
Participant’s estate or, if no such person has been appointed, then in accordance with the laws of intestate succession of the jurisdiction in which the Participant was domiciled as of the date of death. 

(c) Form of Distribution. Distribution to a Beneficiary shall be made in a lump sum in cash or Shares in accordance with
Section 7.1(c). 
 (d) Death of Beneficiary. If a Beneficiary dies after the Participant but before receiving
payment of all benefits under the Plan which would have been paid to such Beneficiary but for his or her death, then all such unpaid benefits shall be paid within ninety (90) days after such death to the personal representatives or equivalent
of such beneficiary’s estate. Notwithstanding the foregoing, the Employer shall not be obligated to make payment to the beneficiary’s estate (and will not be liable for any failure to make distribution within ninety (90) days of the
date of death) unless and until the Committee has verified the identity of such representative. 
 Section 7.3. Payment of
Employer Contributions. To the extent a Participant or Beneficiary, as the case may be, has received or commenced receiving benefits hereunder, and the Participant or former Participant is subsequently determined to be entitled to an allocation
of Employer Contributions for the Plan Year in which the Participant’s active participation in the Plan ceased, then the Company or Participating Employer shall timely pay any such contribution to such person or, if such person is receiving an
installment form of distribution, the Committee shall adjust the balance of the installments due to reflect the amount of such Employer Contribution effective with the due date of the next installment payment. Any such amount shall remain subject to
all applicable provisions of the Plan until so paid. 

  
 21 

 Section 7.4. Later Payment Deferral Elections. 

(a) General. A Participant who elected a specific payment date pursuant to Section 7.1(b) may, in accordance with the
provisions of this Section 7.4 and while an Employee, elect to change the date or form, or both, of payment of the vested Account balance allocable to a Plan Year. No more than two (2) such elections shall be allowed as to the Account
balance for a Plan Year. 
 (b) Election Rules. The later election must be otherwise valid pursuant to
Section 7.2(b), as if an original election, and must be (i) made at least one (1) year before the then scheduled payment date and (ii) extend the then scheduled payment date by five (5) or more years. 

(c) Form of Payment. For purposes of applying this Section 7.4 and implementing the six (6) month delay rule for
Specified Employees, each of the forms of payment awards under the Plan shall be treated as a single payment due to be made as of the first scheduled payment date. 
 Section 7.5. Miscellaneous. 
 (a) De Minimis Amount Payout. In
the event a Participant who has a Separation from Service has a vested Account balance or portion thereof for all years which in the aggregate (under all such arrangements treated as the same plan for this purpose under Section 409A and
Treasury Regulations thereunder) is $17,000 (or such higher amount described in Code section 402(g)(1)(B) as is then in effect) or less, then such vested balance or portion under all such plans so combined shall be immediately paid in a cash lump
sum notwithstanding the other Plan provisions or the Participant’s payment elections. 
 (b) Permissible Delay and
Acceleration. The payment provisions of Article VII are subject to exceptions or overrides in the discretion of the Committee or other person, other than the Participant concerned, as otherwise provided in the Plan or as allowed under Code
section 409A. 

  
 22 

 ARTICLE VIII 
 EMERGENCY WITHDRAWALS 
 Section 8.1. Restricted Withdrawals.

 (a) General. A Participant who is not otherwise then entitled to an immediate lump sum distribution may, upon a
showing of an Unforeseeable Emergency which cannot be satisfied by other available liquid assets, request a withdrawal from the Participant’s vested Account balance, but excluding amounts allocated to the Share Unit Fund. An emergency
withdrawal cannot be requested more frequently than once each Plan Year. 
 (b) Determination. The Committee or its
delegate shall determine whether the relevant facts and circumstances represent an Unforeseeable Emergency and the amount necessary to satisfy such need. The Committee may require such proof as it deems appropriate to evidence the existence of and
the amount necessary to satisfy the emergency or extraordinary circumstances, including a certification that the need cannot be relieved (i) through reimbursement from insurance, (ii) by reasonable liquidation of other assets (but such
available assets shall be determined without regard to the Participant’s account balances under the RSIP and the Plan, whether attributable to amounts deferred before 2005 or after 2004), or (iii) by cessation of Before-tax Deposits. If
and to the extent the cessation of Before-tax Deposits can remedy such need, the Committee may direct such immediate cessation and suspend the Participant’s right, for such period of time as it deems appropriate, to elect Before-tax Deposits.

 (c) Time for Payment. Distributions pursuant to this Article shall be made in cash within ninety (90) days after
the withdrawal is approved by the Committee. If a Participant should die after requesting an emergency withdrawal, but prior to the distribution thereof, the withdrawal election shall be deemed revoked. 

(d) Committee Discretion. Approval of an emergency withdrawal shall be in the sole discretion of the Committee, and no such
approval shall be given if the Committee determines that allowing such withdrawal may have an adverse tax consequence to the Company, Participating Employers, the Plan or other Participants. In the Committee’s sole discretion, such approval may
require the suspension of a Participant’s right to elect Before-tax Deposits for such period of time as the Committee directs. 

  
 23 

 ARTICLE IX 
 PLAN ADMINISTRATION 
 Section 9.1. Committee. 

(a) General. The Committee shall consist of the persons listed on Schedule 3. The Committee shall have exclusive responsibility
for the general administration and operation of the Plan and the power to take any action necessary or appropriate to carry out such responsibilities. In addition, the Committee shall provide generally for the operation of the Plan and be a liaison
between Employers to assure uniform procedures as appropriate. The duties of the Committee shall include, but not be limited to, the following: 
  

	 	(i)	to prescribe, require and use appropriate forms; 

  

	 	(ii)	to formulate, issue and apply rules and regulations; 

  

	 	(iii)	to prepare and file reports, notices and any other documents relating to the Plan which may be required by law; 

 

	 	(iv)	to interpret and apply the provisions of the Plan; 

  

	 	(v)	to authorize and direct benefit payments. 

 In
exercising such powers and duties, and other powers and duties granted under the Plan or Trust to the Committee, the Committee and each member thereof is granted such discretion as is appropriate or necessary to carry out the duties and powers so
delegated. This discretion necessarily follows from the fact that the Plan, the Trust and related documents do not, and are not intended to, prescribe all rules necessary to administer the Plan or anticipate all circumstances or events which may
arise in the course of such administration. 
 (b) Code Section 409A. The Plan shall be administered, and the
Committee, its delegate and the Administrator shall exercise their discretionary authority under the Plan, in a manner consistent with Code section 409A. Any permissible discretion to accelerate or defer a Plan payment under such Regulations, the
power to exercise which is not otherwise described expressly in the Plan, shall be exercised by the Committee. In the event the matter over which such discretion may be exercised relates to a Committee member, or such member is otherwise unable to
fairly exercise such discretion, such member shall not take part in the deliberations and decisions regarding that matter. 

(c) Allocation to Participating Employers. To the extent practicable, the Committee shall account for the Trust assets in such
manner as will permit the accurate allocation of Accounts or parts thereof, including the investment earnings and losses attributable thereto, to the relevant Participating Employer. The Committee shall provide to each Participating Employer all
information necessary to permit each such Employer to prepare any reports or tax filings which may be required by reason of its status as a Participating Employer. 
 (d) Action by Compensation Committee of the Board. Notwithstanding the foregoing, if any action or determination of the Committee as set forth in the Plan is required to

  
 24 

 
be taken by the Compensation Committee of the Board of Directors of the Company in order to comply with applicable law, the Company’s governance charters or the listing requirements of any
exchange on which the Company’s common stock is then listed, then all references herein to the “Committee” shall include the Compensation Committee of the Board to the extent deemed necessary or advisable. 

Section 9.2. Organization and Procedure. The Committee may have a chairman, a secretary, and such other officers as it deems
appropriate. Subject to Section 9.1, action on any matter shall be taken on the vote of at least a majority of all members of the Committee at any meeting or upon unanimous written consent of all members without a meeting. The Committee may
adopt such bylaws, procedures and operating rules as it deems appropriate. 
 Section 9.3. Delegation of Authority and
Responsibility. The Committee may, in writing, delegate to any one or more of its members the authority to execute documents on behalf of the Committee and to represent the Committee in any matters or dealings involving such Committee.

 The Committee may delegate in writing certain of its powers to a person employed by an Employer under such terms and
conditions as may be specified by the Committee. Employees of an Employer who are not members of the Committee or persons to whom powers are delegated, shall perform such duties and functions relating to the Plan as the Committee may direct and
supervise. It is expressly provided, however, that the Committee shall retain full and exclusive authority and responsibility for and respecting any such activities by other employees, and nothing contained in this Section 9.3 shall be
construed to confer upon any such employee any discretionary authority or control respecting the administration or operation of the Plan. 
 Section 9.4. Use of Professional Services. The Committee may obtain the services of such attorneys, accountants, record keepers or other persons as it deems appropriate, any of whom may be the same
persons who are providing services to an Employer. In any case in which the Committee utilizes such services, it shall retain exclusive discretionary authority and control over the administration and operation of the Plan. 

Section 9.5. Fees and Expenses. Committee members who are employees of the Company or a Participating Employer shall serve without
compensation but shall be reimbursed for all reasonable expenses incurred in their capacity as Committee members. No employee members of the Committee or persons performing services pursuant to Section 9.4 shall receive greater than reasonable
compensation for their services. All compensation for services and expenses shall be paid from the Trust unless the Company, in its sole discretion, elects to pay them. To the extent not paid by the Company, such compensation and expenses shall be
paid out of the principal or income of the Trust and charged to Accounts. 

  
 25 

 Section 9.6. Communications. Requests, claims, appeals, and other communications
related to the Plan and directed to the Company or the Committee shall be in writing and shall be made by transmitting the same via the U.S. Mail, certified, return receipt requested, to the Sidekick Committee, c/o Senior Vice President of Human
Resources, at the address listed in the latest summary description for the Plan. 
 Section 9.7. Claims. 

(a) Filing Claims. A Participant or Beneficiary (or a person who in good faith believes he or she is a Participant or Beneficiary,
i.e., a “claimant”) who believes he or she has been wrongly denied benefits under the Plan may file a written claim for benefits with the Administrator. Although no particular form of written claim is required, no such claim shall be
considered unless it provides a reasonably coherent explanation of the claimant’s position. 
 (b) Decision on
Claim. The Administrator shall in writing approve or deny the claim within sixty (60) days of receipt, provided that such sixty (60) day period may be extended for reasonable cause by notifying the claimant. If the claim is denied, in
whole or in part, the Administrator shall provide notice in writing to the claimant, setting forth the following: 
 (1) the
specific reason or reasons for the denial; 
 (2) a specific reference to the pertinent Plan provisions on which the denial is
based; 
 (3) a description of any additional material or information necessary for the claimant to perfect the claim and an
explanation of why such material is necessary; and 
 (4) the steps to be taken if the claimant wishes to appeal the decision to
the Committee. 
 (c) Appeal of Denied Claim. (1) Filing Appeals. A claimant whose claim has been denied in
whole or in part may appeal such denial to the Committee by filing a written appeal with the Administrator within sixty (60) days of the date of the denial. A decision of the Administrator which is not appealed within the time herein provided
shall be final and conclusive as to any matter which was presented to the Administrator. 
 (2) Rights on Appeal. A
claimant (or a claimant’s duly authorized representative) who appeals the Administrator’s decision shall, for the purpose of preparing such appeal, have the right to review any pertinent Plan documents, and submit issues and comments in
writing to the Committee. 
 (d) Decision by Appeals Committee. The Committee shall make a final and full review of any
properly appealed decision of the Administrator within sixty (60) days after receipt of the appeal, provided that such period may be extended for reasonable cause by notifying the claimant. The Committee’s decision shall be in writing and
shall include specific reasons for its decisions and specific references to the pertinent Plan provisions on which its decision is based. 

  
 26 

 ARTICLE X 
 PLAN AMENDMENTS, PLAN TERMINATION, 
 AND MISCELLANEOUS 

Section 10.1. Amendments and Termination. 
 (a) General. While it is intended the Plan shall continue in effect indefinitely, the Company may from time to time modify, alter or amend the Plan or the Trust, provided that no amendment
affecting the rights, duties or responsibilities of the Trustee may be made without the Trustee’s consent. Except as otherwise inconsistent with Section 9.1(b), the Company may at any time order the temporary suspension or complete
discontinuance of Before-tax Deposits, deferrals of Equity Awards or Employer Contributions, or may terminate the Plan. Except as described in subsection (b) following, no such amendment shall reduce the balance in any Participant’s
Accounts determined as of the later of the date the amendment is adopted or effective. 
 (b) Amendments to Comply with
Applicable Law. Nothing herein shall be construed to prevent any modification, alteration or amendment of the Plan or Trust which is required to comply with the provision of any applicable law or regulation relating to the establishment or
maintenance of this Plan and Trust. Except as otherwise provided herein, or as necessary to comply with such law or regulation, no such amendment shall reduce the balance in any Participant’s Accounts determined as of the later of the date the
amendment is adopted or effective. 
 (c) Participating Employers. An Employer may become a Participating Employer by
agreeing to withhold and make contributions for its Employees as provided for herein. An Employer which becomes a Participating Employer thereby agrees to pay or provide for the payment of benefits hereunder to those Participants (and their
Beneficiaries) employed by it, but only to the extent such benefits are attributable to contributions, and investment earnings and losses credited thereon, related to the period of such employment. A Participating Employer shall have no
discretionary authority or control over the administration of the Plan or the Fund. 
 An Employer, other than the Company,
which becomes a Participating Employer thereby agrees that any subsequent modifications, alterations and amendments to the Plan by the Company shall be deemed to have been adopted by the Participating Employer. 

An Employer, other than the Company, may cease to be a Participating Employer by adopting a written resolution of its board of directors
and delivering such resolution to the Committee. No resolution ending participation in the Plan shall be effective until thirty (30) days after it is received by the Committee. Unless otherwise provided herein, ceasing to be a Participating
Employer shall not relieve such Employer of its obligation hereunder to provide for the payment of benefits credited to Accounts on behalf of Participants during the time such Employer was a Participating Employer. 

(d) Plan Termination. If the Plan is terminated, the Committee may elect to either terminate or retain the Trust. Any decision to
terminate the Plan or the Trust shall not reduce the balance of a Participant’s Accounts under the Plan as of the effective date of such termination, nor shall it terminate, amend or otherwise change the liability of the Company or
Participating Employer to pay or provide for the payment of benefits under the Plan. 

  
 27 

 Section 10.2. Non-Guarantee of Employment. Nothing contained in this Plan shall be
construed as a contract of employment between an Employer and a Participant, or as a right of any Participant to be continued in the employment of an Employer, or as a limitation on the right of an Employer to discharge any Participant with or
without notice or with or without cause. 
 Section 10.3. Rights to Trust Asset. 

(a) Rights of Participants. No Participant or any other person shall have any right to, or interest in, any part of the Trust
assets upon termination of employment or otherwise, except as otherwise provided under the Plan. If the assets of the Trust are insufficient to pay the vested amounts credited to a Participant’s Accounts, the Participant’s Employer shall
pay any such amounts from its other general assets. If such Employer does not timely pay such benefits, then, except as described in Section 10.3(b), the sole recourse of a claimant Participant or Beneficiary shall be against such Employer and
neither the Company nor any other Employer shall be responsible to pay or provide for the payment of such benefits or liable for the nonpayment thereof. 
 (b) Company Assumption of Liability. If the Participant’s employment is terminated due to the sale of the stock (or rights analogous to stock) or assets of his or her Employer by the Company,
the Company shall assume and be responsible for the payment of benefits to such Participant as necessary pursuant to this Section 10.3 even though it may not have been such Participant’s Employer. The Company’s obligation under this
Section 10.3(b) shall cease as of the earlier of the date all such benefits are paid to the affected Participant or the date the person who purchased such stock or assets, or a person who controls such person, agrees in writing to assume the
liability for the benefits credited to the affected Participants by reason of their participation in the Plan. 

Section 10.4. Suspension of Rules. 
 (a) Federal Securities and Other Laws. Notwithstanding anything in the Plan to the contrary, and to the extent and for the time reasonably necessary to comply with federal securities laws (or other
applicable laws or regulations), elective deferrals, Participant investment-direction, and payment dates and forms under the Plan may be suspended, changed, or delayed as necessary to comply with such laws or regulations; provided, however, any
payments so delayed shall be paid to the Participant or Beneficiary as of the earliest date the Committee determines that such payment will not cause a violation of any such laws or regulations. 

(b) Section 162(m). If the Committee reasonably determines that a scheduled payment of benefits under the Plan will not be
deductible by an Employer by reason of Code section 162(m), it may, if and to the extent permitted by Code section 409A, suspend all such payments to the extent not so deductible. Payments so suspended shall be paid by the fifteenth (15th) day
of the third month after the affected Participant dies, becomes Disabled, or incurs a 

  
 28 

 
Separation from Service, or if earlier, when such payment is deductible by the Company; provided, however, if the Participant is a Specified Employee when he or she incurs a Separation from
Service, payments suspended pursuant to this subsection shall be paid as described except the six (6) month anniversary of the actual Separation from Service shall be treated as the date the affected Participant Separated from Service.

 (c) Offset for Amounts Due. A Participant’s vested Account balance may be reduced by one or more offsets to repay
any amounts then due and owing to an Employer, unless another means of repayment is agreed to by the Committee. Except for the right to immediate offset for an amount up to $5,000, or such higher amount as allowed under Treasury Regulations or other
directives, the Account balance shall not be so offset before it is otherwise scheduled to be paid to the Participant or Beneficiary and the amount then offset shall not exceed the amount that would be otherwise so paid. 

Section 10.5. Requirement of Proof. In discharging their duties and responsibilities under the Plan, the Committee or other
individual may require proof of any matter concerning this Plan, and no person shall acquire any rights or be entitled to receive any benefits under this Plan until such proof is furnished. 

Section 10.6. Indemnification. The Company shall indemnify each member of the Committee and hold each of them harmless from the
consequences of acts or conduct when done in their capacity as Committee members. This provision shall apply only if the member acted in good faith and in a manner reasonably believed to be solely in the best interests of the Participants and
Beneficiaries and, with respect to any criminal action or proceeding, had no reasonable cause to believe the conduct was unlawful. Such indemnification shall cover any and all reasonable attorneys’ fees and expenses, judgments, fines and
amounts paid in settlement, but only to the extent such amounts are (i) actually and reasonably incurred, (ii) not otherwise paid or reimbursable under an applicable Employer paid insurance policy, and (iii) not duplicative of other
payments made or reimbursements due by the Company or its affiliates under other indemnity agreements. 
 In no event shall this
Section 10.6 be construed to require the Company to indemnify third parties with whom it may contract to perform administrative or investment management duties or to indemnify the Trustee to any extent beyond what may be required under such
contract or the Trust agreement, respectively. 
 Section 10.7. Non-Alienation and Taxes. 

(a) General. Except as otherwise expressly provided herein or as otherwise required by law, no right or interest of any
Participant or Beneficiary in the Plan and the Trust shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, attachment, garnishment, execution, levy, bankruptcy, or any other disposition
of any kind, either voluntary or involuntary, prior to actual receipt of payment by the person entitled to such right or interest under the provisions hereof, and any such disposition or attempted disposition shall be void. 

  
 29 

 (b) Tax Withholdings. (1) General. Benefits earned under the Plan and
payment of such benefits shall be subject to tax reporting and withholding as required by law and the amount of such withholding may be determined by treating such benefits as being in the nature of supplemental wages. If tax withholdings must be
made before such benefits are paid to a Participant or Beneficiary (e.g., FICA taxes on Before-tax Deposits), they shall be made from other wages paid to such individual apart from the Plan to the extent reasonably possible; provided, however, if
such other wages are insufficient for that purpose, the withholdings shall be made from and reduce Before-tax Deposits or Employer Contributions, as applicable, for the individual concerned or, if no such contributions are available, the relevant
Employer shall advance the withholdings, the appropriate Account balance of the individual concerned shall be reduced in the same amount, and upon the direction of the Committee the Trustee shall remit to the Employer an amount equal to such
reduction. 
 (2) Tax Consequences. Neither the Company nor any other Employer represents or guarantees that any
particular federal, foreign, state or local income, payroll, or other tax consequence will result from participation in this Plan or payment of benefits under the Plan. 
 (c) Coordination with Code Section 457A. If a Participant is subject to Code Section 457A in a Plan Year, then to the extent required by Code Section 457A: 

(1) His or her Before-tax Deposits for such year shall be deducted from the Participant’s Base Compensation and/or Bonus
Compensation on an after-tax basis, and as a result the Employer Matching and Discretionary Contributions shall be calculated by taking into considered that such deposits are includible in the Participant’s compensation for such year;

 (2) All allocations made during such Plan Year, including Employer Contributions and earnings credited on deferred amounts,
shall be considered taxable income to the extent vested in such year; 
 (3) All prior deferred amounts shall be considered
taxable income in such year to the extent vested (and not previously included in income); provided that with regard to amounts deferred that are attributable to services performed prior to January 1, 2009, such amounts shall not be required to
be included in taxable income until December 31, 2017. 
 Notwithstanding any provision of the Plan to the contrary, the Administrator may
authorize the payment of amounts in the year such amounts are included in income under this subsection (c) unless payment at such time would violate Code Section 409A. 

Section 10.8. Not Compensation Under Other Benefit Plans. No amounts allocated to a Participant’s Account shall be deemed to
be salary or compensation for purposes of the RSIP or any other employee benefit plan of the Company or any other Employer except as and to the extent otherwise specifically provided in such other plan. 

  
 30 

 Section 10.9. Savings Clause. If any term, covenant, or condition of this
Plan, or the application thereof to any person or circumstance, shall to any extent be held to be invalid or unenforceable, the remainder of this Plan, or the application of any such term, covenant, or condition to persons or circumstances other
than those as to which it has been held to be invalid or unenforceable, shall not be affected thereby, and, except to the extent of any such invalidity or unenforceability, this Plan and each term, covenant, and condition hereof shall be valid and
shall be enforced to the fullest extent permitted by law. 
 Section 10.10. Facility of Payment. If the Committee
shall determine a Participant or Beneficiary entitled to a distribution hereunder is incapable of caring for his or her own affairs because of illness or otherwise, it may direct any distribution from such Participant’s Accounts be made, in
such shares as it shall determine, to the Spouse, child, parent or other blood relative of such Participant or Beneficiary, or any of them, or to such other person or persons as the Committee may determine, until such date as it shall determine such
incapacity no longer exists; provided, however, the exercise of this discretion shall not cause an acceleration or delay in the time of payment of Plan benefits except to the extent, and only for the duration of, the time reasonably necessary to
resolve such matters or otherwise protect the interests of the Plan. The Committee shall be under no obligation to see to the proper application of the distributions so made to such person or persons and any such distribution shall be a complete
discharge of any liability under the Plan to such Participant or Beneficiary, to the extent of such distribution. 
 Section
10.11. Requirement of Releases. If in the opinion of the Committee, any present or former Spouse or dependent of a Participant or other person shall by reason of the law of any jurisdiction appear to have any bona fide interest in Plan benefits
that may become payable to a Participant or with respect to a deceased Participant, or otherwise has asserted such a claim, the Committee may direct such benefits be withheld pending receipt of such written releases as it deems necessary to prevent
or avoid any conflict or multiplicity of claims with respect to the payment of such benefits, but only to the extent and for the duration reasonably necessary to resolve such matters or otherwise protect the interests of the Plan. 

Section 10.12. Board Action. Any action which is required or permitted to be taken by the Board of Directors of the Company
under the Plan may be taken by the Compensation Committee of such board or any other authorized committee of such board. 

Section 10.13. Computational Errors. In the event mathematical, accounting, or similar errors are made in processing or
paying a benefit under the Plan, the Committee may make such equitable adjustments as it deems appropriate (which may be retroactive) to correct such errors. 

  
 31 

 Section 10.14. Unclaimed Benefits. In the event any person who is entitled to
benefits hereunder cannot be located despite reasonable and diligent efforts to do so, then such person’s benefits shall be automatically forfeited as of the last day of the Plan Year next following the year in which such benefits first became
payable; provided, however, in the event such person subsequently makes a valid claim for such forfeited benefits prior to the termination of the Plan, such benefits shall be reinstated and immediately paid. 

Section 10.15. Communications. The Committee, or its delegate, or the Trustee, as to the function or authority concerned,
shall prescribe such forms of communication, including forms for benefit application and the like, with respect to the Plan and Fund as it deems appropriate. Except as otherwise prescribed by such persons or otherwise provided by governing statute
or regulation, any such communication and assent or consent thereto may be handled by electronic means. 

  
 32 

 ARTICLE XI 
 TRANSITIONAL RULES 
 Section 11.1. Introduction. This Plan
document is effective on January 1, 2009 (i.e., the “effective date”) and, except as otherwise provided herein, shall apply only to those Participants who are eligible to actively participate in the Plan on or after the effective
date. For the period that began on January 1, 2005 and ended December 31, 2008, the Plan as in effect on December 31, 2004 governed the rights and obligations of the Company and Participants, except as modified by the Company in its
discretion so that the Plan and its operations were in good faith compliance with Code Section 409A. 
 Section
11.2. Amounts Deferred Under Prior Plan. Account balances (including earnings and losses on such balances regardless of when incurred) attributable to deposits and contributions for periods before 2005 shall be accounted for separately
from account balances attributed to deposits and contributions for periods after 2004 and such pre-2005 deferrals shall be governed by the terms and conditions of the Plan as in effect on December 31, 2004, which are contained in a separate
plan document; provided that if any such amounts are includible in income under Code Section 457A, then payment of such amounts shall be subject to the provisions of Section 10.7(c) hereof. 

  
 33 

 SCHEDULE 1 – BASE COMPENSATION 

 

			
	 Items Included
	  	 Items Excluded

		
	 Base salary before deferrals for:
  

•        401(k) plan before-tax employee contributions;

 

•        Section 125 plan (flexible benefit, cafeteria plan)
pre-tax employee contributions; and
  

•        Section 132(f)(4) plan (transportation benefit plan)
pre-tax employee contributions
	  	All other items of compensation

  
 34 

 SCHEDULE 2 – BONUS COMPENSATION 

 

	•	 	 Performance Awards under the Pentair Ltd. 2012 Stock and Incentive Plan that are not Equity Awards 

 

	•	 	 Pentair, Inc. Management Incentive Plan (“MIP”) 

  
 35 

 SCHEDULE 3 
 COMMITTEE MEMBERS 
  

	1.	Senior Vice President of Human Resources 

  

	2.	Vice President of Compensation and Benefits 

  

	3.	Vice President of Treasury and Tax 

  
 36Pentair, Inc. Supplemental Executive Retirement Plan

 Exhibit 10.16 
 PENTAIR, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

As Amended and Restated Effective September 28, 2012 

 TABLE OF CONTENTS 

 

									
	 Section 1.
	 	 Name of Plan.
	  	 	1	  
			
	 Section 2.
	 	 General Definitions.
	  	 	1	  
			
	 Section 3.
	 	 Participation, Vesting and Benefit Service, and Rules Governing the Crediting of Service, Disability and the Determination
of Compensation and Final Average Compensation.
	  	 	6	  
		 	(a)	 	 Participation
	  	 	6	  
		 	(b)	 	 Vesting
	  	 	7	  
		 	(c)	 	 Benefit Service
	  	 	7	  
		 	(d)	 	 Service Credits
	  	 	7	  
		 	(e)	 	 Disability
	  	 	8	  
		 	(f)	 	 Compensation
	  	 	9	  
			
	 Section 4.
	 	 Payments in the Event of Death Before the Benefit Commencement Date.
	  	 	10	  
		 	(a)	 	 General
	  	 	10	  
		 	(b)	 	 Vested Participant
	  	 	10	  
		 	(c)	 	 Amount and Timing of Benefit Payment
	  	 	10	  
		 	(d)	 	 Beneficiary
	  	 	10	  
			
	 Section 5.
	 	 Payment of Retirement Benefits.
	  	 	11	  
		 	(a)	 	 General
	  	 	11	  
		 	(b)	 	 Lump Sum
	  	 	11	  
		 	(c)	 	 Re-Employment after Commencement of Benefits
	  	 	11	  
		 	(d)	 	 Death Before End of 180 Month Period
	  	 	11	  
		 	(e)	 	 Beneficiary
	  	 	11	  
		 	(f)	 	 Non-Alienation
	  	 	12	  
		 	(g)	 	 Miscellaneous
	  	 	12	  
			
	 Section 6.
	 	 Confidentiality, Covenants Not to Compete, and Non-Solicitation.
	  	 	13	  
		 	(a)	 	 General
	  	 	13	  
		 	(b)	 	 Forfeiture and Other Remedies
	  	 	14	  
			
	 Section 7.
	 	 Funding and Payment of Benefits.
	  	 	15	  
		 	(a)	 	 General
	  	 	15	  
		 	(b)	 	 Employer Company
	  	 	15	  
		 	(c)	 	 Company Assumption of Liability
	  	 	15	  
		 	(d)	 	 Participation by Other Group Members
	  	 	15	  
			
	 Section 8.
	 	 Default.
	  	 	16	  
			
	 Section 9.
	 	 Administration of the Plan.
	  	 	16	  
		 	(a)	 	 General
	  	 	16	  
		 	(b)	 	 Committee
	  	 	16	  
		 	(c)	 	 Discretion
	  	 	17	  

  
 i 

									
		 	(d)	 	 Indemnity
	  	 	17	  
		 	(e)	 	 Code Section 409A
	  	 	17	  
		 	(f)	 	 Use of Professional Services
	  	 	17	  
		 	(g)	 	 Communications
	  	 	17	  
			
	 Section 10.
	 	 Effect of KEESA.
	  	 	18	  
			
	 Section 11.
	 	 Amendment or Termination.
	  	 	18	  
		 	(a)	 	 General
	  	 	18	  
		 	(b)	 	 Limitation on Power to Amend or Terminate
	  	 	18	  
		 	(c)	 	 Change in Control
	  	 	19	  
		 	(d)	 	 Continuation of Plan Provisions
	  	 	19	  
			
	 Section 12.
	 	 Claims.
	  	 	19	  
		 	(a)	 	 Filing Claims
	  	 	19	  
		 	(b)	 	 Decision on Claim
	  	 	19	  
		 	(c)	 	 Appeal of Denied Claim
	  	 	19	  
		 	(d)	 	 Decision by Appeals Committee
	  	 	20	  
			
	 Section 13.
	 	 Miscellaneous.
	  	 	20	  
		 	(a)	 	 Employer’s Rights
	  	 	20	  
		 	(b)	 	 Interpretation
	  	 	20	  
		 	(c)	 	 Withholding of Taxes
	  	 	20	  
		 	(d)	 	 Offset for Amounts Due
	  	 	20	  
		 	(e)	 	 Computational Errors
	  	 	20	  
		 	(f)	 	 Requirement of Proof
	  	 	21	  
		 	(g)	 	 Tax Consequences
	  	 	21	  
		 	(h)	 	 Communications
	  	 	21	  
		 	(i)	 	 Not Compensation Under Other Benefit Plans
	  	 	21	  
		 	(j)	 	 Choice of Law
	  	 	21	  
		 	(k)	 	 Savings Clause
	  	 	21	  
		 	(l)	 	 Change in Control
	  	 	21	  
			
	 Section 14.
	 	 Transition Rules.
	  	 	21	  
		 	(a)	 	 General
	  	 	21	  
		 	(b)	 	 2004 Vested Participants Benefits
	  	 	21	  
		 	(c)	 	 Excess
	  	 	22	  
		
	 APPENDIX A
	  	 	23	  
		
	 SCHEDULE 1
	  			
		
	 SCHEDULE 2
	  	 	26	  
		
	 TABLE 1
	  	 	27	  

  
 ii 

 PENTAIR, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 Section 1. Name of
Plan. This plan shall be known as the Pentair, Inc. Supplemental Executive Retirement Plan. 
 Section 2. General
Definitions. Unless the context requires otherwise, when used herein the terms listed below, when capitalized or applied to such capitalized terms, shall have the following meanings: 

(1) “Adjustment Factor” is the factor used in adjusting the Pension Amount to reflect the period of time between the
date a vested Participant Separates from Service and his or her Benefit Commencement Date. With respect to such a Participant who survives to his or her Benefit Commencement Date and who so separates: 

 

	 	(a)	on or after attaining age fifty-five (55), the Adjustment Factor is 1.03441 (i.e., the Pension Amount is adjusted to reflect the period beginning on the first day of
the month next following the month in which the Participant Separates from Service to the Benefit Commencement Date); or 

  

	 	(b)	before attaining age fifty-five (55), the Adjustment Factor is the appropriate factor set forth in Table 1 to reflect the period beginning on the first day of the month
next following the month in which the Participant Separates from Service and ending on the Benefit Commencement Date. 

 (2) “Administrator” is the Company. 
 (3)
“Beneficiary” is a person entitled to receive any benefits payable under the Plan after a former Participant’s death. 
 (4) “Benefit Commencement Date” is generally the first day of the first month as of which a Participant’s Retirement Benefit is payable. For a vested Participant who Separates from
Service on or after attaining age fifty-five (55), the Benefit Commencement Date is the first day of the month next following the six-month anniversary of the date the Participant Separates from Service. For a vested Participant who Separates from
Service before attaining age fifty-five (55), the Benefit Commencement Date is the later of the date described in the immediately preceding sentence and the first day of the month next following the month which includes his or her fifty-fifth
(55th) birthday. For a Participant who becomes disabled, the Participant’s Benefit Commencement Date shall be the first day of the month next following the month in which the Participant’s sixty-fifth (65th) birthday occurs, as provided in Section 3(e). 

(5) “Benefit Service” is the number of Years of Service, beginning with the calendar year which includes the
individual’s Benefit Service Date, during which an individual completes 1,000 Hours of Service as an Eligible Employee. 

(6) “Benefit Service Date” is the date from and after which an individual may earn Benefit Service. An individual’s
Benefit Service Date shall be listed on Schedule 1. 

  
 1 

 (7) “Board” is the Board of Directors of the Company. 

(8) “Change in Control” is, with respect to periods ending prior to or upon the Merger, a change in control of the
Company as defined in the Pre-Merger KEESA or, with respect to periods ending after the Merger, a change in control of Pentair Ltd. as defined in the Post-Merger KEESA. 
 (9) “Code” is the Internal Revenue Code of 1986, as amended. Any reference to a specific provision of the Code shall be deemed to refer to any successor provision thereto and the
regulations promulgated thereunder. 
 (10) “Committee” is the Compensation Committee of the Board. If the
Committee is not in existence, then all references to the Committee herein shall mean the Board. 
 (11)
“Company” is Pentair, Inc., a Minnesota corporation, or any successor thereto. 
 (12)
“Compensation” is any item or class of remuneration or part thereof listed or described in the left-hand column of Schedule 2 and not any such items listed or described in the right-hand column of Schedule 2. In the event a
remuneration item is not listed or described in Schedule 2, the Administrator shall determine whether such item is included or excluded from Compensation by taking into account the nature of the item and its similarity to an item which is so listed.

 (13) “Conversion Factor” is the factor used to convert the Pension Amount into the Monthly Installment and
shall be 113.4. 
 (14) “Covered Termination” is a covered termination, as defined in the KEESA, which entitles
the Participant to a termination payment pursuant to Sections 8 and 9(a) of the KEESA. 
 (15) “Disabled” or
“Disability” is a physical or mental condition, resulting from physical or mental sickness or injury, which prevents the individual from engaging in any substantial gainful activity, and which condition can be expected to last for a
continuous period of not less than twelve (12) months. 
 (16) “Effective Date” is, with respect to this
amended and restated Plan document, September 28, 2012. 
 (17) “Eligible Employee” is an individual who,
on or after the Effective Date, is (i) a full time employee of a Group member, (ii) a citizen or lawful permanent resident of the United States, and (iii) either (x) an officer of Pentair Ltd. appointed by the board of directors
of Pentair Ltd. or (y) the President of a substantial, operating Group member other than the Company or comparable position (e.g., head of a major operating division of a Group member) who, in the case of this clause (y), has been nominated by
the Company’s Chief Executive Officer for participation in the Plan and such participation has been approved by the Committee; provided, however, the Committee may waive prospectively the requirement that an individual be a U.S. citizen or
lawful permanent resident and, with respect to such an individual and to the extent otherwise consistent with Plan terms, may modify other aspects of the Plan if, in the Committee’s sole discretion, such waiver or modification, or both, is
appropriate under the circumstances and given tax and other governmental regulatory provisions applicable to such individual and his or her Employer Company. 

  
 2 

 (18) “Employer Company” is the Group member which employs a Participant as
of the date the Participant has a Separation from Service or otherwise terminates all Group employment due to death or Disability. 
 (19) “ERISA” is the Employee Retirement Income Security Act of 1974, as amended. Any reference to a specific provision of ERISA shall be deemed to include any successor provision thereto
and the regulations promulgated thereunder. 
 (20) “Final Average Compensation” is the average Compensation
determined by averaging Compensation in those five (5) consecutive calendar years out of the last ten (10) consecutive calendar years, ending with the calendar year which ends coincident with or immediately preceding the date the
Participant has a Separation from Service or otherwise ceases to be an Eligible Employee, whichever occurs first, for which the average Compensation is the highest. 
 Notwithstanding the immediately preceding paragraph, Final Average Compensation shall not be less than the average Compensation for the sixty (60) months immediately preceding the date the
Participant has a Separation from Service or otherwise ceases to be an Eligible Employee, whichever occurs first, determined as the sum of Compensation in the final calendar year of such employment plus Compensation in each of the four
(4) calendar years preceding the final calendar year of such employment plus a percentage of the Compensation for the entire fifth calendar year preceding the final calendar year of such employment; such percentage shall be determined as twelve
minus the number of full calendar months for which Compensation was payable in the final calendar year of such employment divided by the number of months for which Compensation was paid in the fifth calendar year preceding the final calendar year of
such employment. 
 If the Participant’s relevant Compensation history is for less than the stated period of time (e.g.,
less than five (5) years; less than ten (10) years), then such actual period shall be substituted in determining Final Average Compensation (e.g., if the individual has six (6) years of Compensation history, the high five
(5) consecutive years within such six (6) years shall be used in determining the average; if the individual has three (3) years of Compensation history, all such Compensation shall be used in determining the average). 

(21) “Group” is the Company and, except as prescribed by the Administrator, each other corporation or unincorporated
business which is a member of a controlled group of corporations or a group of trades or businesses under common control (within the meaning of Code section 414(b) or (c)) which includes the Company, but with respect to other business entities
during only the periods of such common control with the Company. 
 (22) “Hour of Service” is each hour which
an individual is paid or entitled to payment from a Group member for (i) the performance of duties as its employee and (ii) reasons related to such employment but other than for the performance of duties, such as vacation, illness, jury
duty, military duty or leave of absence other than (x) payments made or due under a plan 

  
 3 

 
maintained solely to comply with worker’s compensation, unemployment compensation, or disability insurance laws, or (y) payments made solely for reimbursement of medical or medically
related expenses; provided, however, no more than 501 Hours of Service shall be credited under clause (ii) immediately preceding for any single continuous period during which no duties as such an employee are performed. An individual shall not
receive duplicate Hour of Service credits for the same period of service or absence. 
 Regardless of the actual number of Hours
of Service completed during a year, in determining whether 1,000 Hours of Service have been completed during a calendar year an individual shall be credited with forty-five (45) Hours of Service for each calendar week the individual is
otherwise credited with an Hour of Service pursuant to the immediately preceding paragraph. 
 (23) “KEESA” is
the Post-Merger KEESA or the Pre-Merger KEESA, if any, in effect at the time of the applicable event. A “Post-Merger KEESA” is the Key Executive Employment and Severance Agreement, if any, in effect between Pentair Ltd. and the Participant
after the consummation of the Merger. A “Pre-Merger KEESA” is the Key Executive Employment and Severance Agreement, if any, in effect between the Company and the Participant prior to the consummation of the Merger. 

(24) “Merger” is the merger contemplated by the Merger Agreement among the Company, Tyco International Ltd., Pentair
Ltd., Panthro Acquisition Co. and Panthro Merger Sub, Inc., as amended, pursuant to which, on September 28, 2012, the Company became an indirect wholly-owned subsidiary of Pentair Ltd. 

(25) “Monthly Installment” is a monthly payment, commencing as of the Participant’s Benefit Commencement Date,
payable for one hundred eighty (180) consecutive months, and shall be determined by dividing the Participant’s Pension Amount by the Conversion Factor, with such monthly payment rounded to the nearest whole dollar amount. 

(26) “Participant” is an Eligible Employee who has become covered by the Plan. Once an individual has become so covered,
he or she shall remain a Participant, except as provided in Section 3, until the first to occur of his or her death, Disability, or Separation from Service; provided, however, if the individual has a non-forfeitable right to a Retirement
Benefit as of the date he or she incurs such an event (determined without regard to the forfeiture provision of Section 6(b) unless such section has been actually enforced as to such individual), then absent death the individual shall remain a
Participant until the individual has received his or her entire Retirement Benefit or the Retirement Benefit has been forfeited as provided for in Section 6(b). 
 (27) “Participation Date” is the later of (i) January 1, 1999 and (ii) the earlier of (x) the date an individual becomes an Eligible Employee described in
Section 2(17)(iii)(x) and (y) for an individual described in Section 2(17)(iii)(y), the date such individual’s nomination is approved by the Committee or such earlier date as may be provided in approving such nomination. An
individual’s Participation Date shall be listed on Schedule 1. 

  
 4 

 (28) “Pension Amount” is an amount equal to the Participant’s Final
Average Compensation multiplied by fifteen percent (15%) multiplied by the Participant’s Benefit Service, with such amount then multiplied by the Adjustment Factor if the Participant Separates from Service and survives to his or her
Benefit Commencement Date. 
 (29) “Pentair Ltd.” is Pentair Ltd., a Swiss company, or any successor thereto.

 (30) “Plan” is the retirement plan herein described. When this term is modified by or with reference to a
certain date (e.g., Plan as in effect before year XXXX), it shall refer to the Plan as described in the Plan document in effect for the period referenced. 
 (31) “Retirement Benefit” is the monthly retirement benefit payable under the Plan as the Monthly Installment. 
 (32) “Spouse” is an individual, of a sex opposite to that of a Participant, whose marriage to a Participant is recognized under the laws of the United States (or one of the United States)
or any other generally recognized jurisdiction. 
 (33) “Separates from Service” or “Separation from
Service” is the termination of employment as an employee, from all business entities that comprise the Group, for reasons other than death or Disability. A Participant will be deemed to have incurred a Separation from Service when the level
of bona fide services performed by the Participant for the Group permanently decreases to a level equal to twenty percent (20%) or less of the average level of services performed by the Participant for the Group during the immediately preceding
thirty-six (36) month period (or such lesser period of service). Notwithstanding the foregoing, a Participant on a bona fide leave of absence from the Group shall be considered to have incurred a Separation from Service no later than the six
(6) month anniversary of the absence (or twenty-nine (29) months in the event of an absence due to a medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous
period of not less than six (6) months, where such impairment causes the Participant to be unable to perform the duties of his or her position or a substantially similar position) or the end of such longer period during which the individual has
the right by law or agreement to return to employment upon the expiration of the leave. Notwithstanding the foregoing, if following the Participant’s termination of employment from the Group the Participant becomes a non-employee director or
becomes or remains a consultant to the Group, then the date of the Participant’s Separation from Service may be delayed until the Participant ceases to provide services in such capacity to the extent required by Code section 409A. 

(34) “Year of Service” is a calendar year in which an individual completes 1,000 Hours of Service. 

  
 5 

 Section 3. Participation, Vesting and Benefit Service, and Rules Governing the
Crediting of Service, Disability and the Determination of Compensation and Final Average Compensation. 
 (a)
Participation. 
 (1) General. The primary purpose of the Plan is to provide supplemental retirement benefits to
Eligible Employees. It is intended that such employees constitute a select group of management or highly paid employees, within the meaning of ERISA section 201(2), of the Group. Except as provided in Section 3(d)(6), in the event an individual
who is not within such a select group becomes covered by the Plan, then notwithstanding any Plan provision to the contrary such individual’s participation in the Plan shall immediately cease. 

Because the Plan is described in ERISA section 201(2), and other ERISA provisions corresponding thereto, certain provisions of ERISA do
not apply to it and the benefits earned thereunder, including the provisions of Parts 2, 3, and 4 of Title I of ERISA relating to participation and vesting, funding, and fiduciary responsibilities, respectively. In addition, the Plan is not a
tax-qualified plan under the Code, and thus the Plan and benefits paid hereunder are not subject to certain rules which apply to benefits payable under such qualified plans including the annual compensation and benefit limits under Code sections
401(a)(17) and 415, respectively, and the manner in which a Participant’s or Beneficiary’s Plan benefits are subject to income tax. 
 (2) Acceptance. Unless an Eligible Employee declines to become covered by the Plan by delivering a written notice to that effect to the Administrator within thirty (30) days (or such earlier
date as the Administrator may prescribe) of what would be otherwise his or her Participation Date, he or she shall have accepted all the terms and conditions of the Plan, including the provisions of Section 6, and without regard to whether he
or she becomes entitled to receive a benefit under the Plan. If such a declination is made, the individual shall not be covered by the Plan and no benefits shall be payable hereunder to or with respect to such individual; provided, however, the
declination shall not be compensated for or replaced with any other current or future item of compensation and shall not constitute a waiver, release, or modification of any restrictions or covenants relating to such individual’s employment or
termination of employment arising under agreements apart from the Plan or under applicable law. Once Plan participation is accepted or declined, such action shall be effective as to the individual concerned regardless of any later break in service
and return to covered employment. 
 (3) Effective Date Participants. The names of the Eligible Employees covered by the
Plan as of the Effective Date and their Participation and Benefit Service Dates are listed on Schedule 1. From time to time Schedule 1 shall be amended to list the names of additional Eligible Employees who have become covered by the Plan and their
Participation and Benefit Service Dates. 

  
 6 

 (b) Vesting. 

(1) General. Except as otherwise expressly provided herein, all benefits otherwise payable under the Plan to or with respect to a
Participant shall be forfeited if the Participant has a Separation from Service before completing five (5) Years of Service. 
 (2) Death or Disability. A Participant who dies or becomes Disabled while employed by a Group member shall be fully vested in his or her Retirement Benefit. 

(3) Automatic Acceleration of Vesting. If a Participant has a Covered Termination under his or her KEESA, then immediately before
such termination the Participant shall be considered fully vested in his or her Retirement Benefit. 
 (4) Other
Forfeiture. Notwithstanding the foregoing provisions of this Section 3(b), except as otherwise provided under the Plan, all benefits otherwise payable under the Plan to or with respect to a Participant or former Participant shall be subject
to forfeiture to the extent provided in Section 6(b). 
 (c) Benefit Service. (1) Benefit Service Date.
For an individual who becomes an Eligible Employee on or after the Effective Date, the Benefit Service Date shall be the same date as his or her Participation Date. 
 (2) Benefit Service Date of Effective Date Participants. The Benefit Service Date of an individual who is an active Participant immediately before and as of the Effective Date shall be the date
listed on Schedule 1 for such individual and such date may precede the individual’s Participation Date. 
 (3) Benefit
Service. An individual who ceases to be a Participant by reason of death while an Eligible Employee shall be considered to have completed a Year of Service in the year of death for purposes of determining the Benefit Service earned by such
individual, regardless of the actual Hours of Service credited for such year. 
 (4) Benefit Service Upon a Covered
Termination. If a Participant incurs a Covered Termination, then immediately before such termination the Participant shall be credited with additional Years of Service for determining Benefit Service equal to the lesser of (i) three
(3) and (ii) the greater of (x) seven (7) minus the Benefit Service credited to such Participant under the Plan, determined without regard to this Section 3(c)(4), as of the first day of the Plan Year beginning immediately
after such termination and (y) zero (0). The Benefit Service provided for by this Section 3(c)(4) shall be in addition to a Participant’s Benefit Service under the Plan determined without regard to this Section 3(c)(4).

 (d) Service Credits. 
 (1) General. Subject to other Plan provisions, a Participant’s Years of Service shall be based upon the completion of 1,000 Hours of Service during a calendar year. 

  
 7 

 (2) No Vesting Service Before Participation Date. No Year of Service completed before
the calendar year which includes an individual’s Participation Date shall be considered for purposes of applying Section 3(b)(1). 
 (3) Non-Duplication of Service Credit. In no event shall a Participant be credited for more than one (1) Year of Service with respect to any one (1) calendar year. In the event service
credit for a period must be provided under the Plan by reason of applicable law (e.g., USERRA) and such credit duplicates service credit otherwise provided under the Plan, then the service crediting provision which is most beneficial to the
Participant under the circumstances shall be applied but without duplication of service credit for the same period. 
 (4)
Leaves of Absence. In the sole discretion of the Committee, a Participant may be granted service credit for a period of absence from active employment due to illness, personal circumstances, or such other events as the Committee may authorize
under the circumstances and in such amount, manner or type of service credit as the Committee deems appropriate under the circumstances, but in no event shall such service credit duplicate any such credit otherwise provided under the Plan for the
same period or extend beyond the date the Participant Separates from Service. 
 (5) Break in Service. Except as
determined in the discretion of the Committee, if a Participant Separates from Service before he or she has a nonforfeitable right to a Retirement Benefit by reason of Section 3(b)(1) and thereafter returns to employment as an Eligible
Employee, all service credits earned prior to such termination shall be ignored and the individual’s service credits shall be determined as if he or she had not been previously employed by any Group member. 

(6) Transfer. If an individual becomes a Participant and subsequently, and without a Separation from Service, is employed with a
Group member as other than an Eligible Employee, then upon the occurrence of such event the individual shall cease all active participation under the Plan (e.g., he or she will no longer accrue benefits under the Plan). Such an individual shall
continue to be covered by the Plan with respect to determining his or her vesting rights and for purposes of applying Plan provisions related to the payment of nonforfeitable benefits. 

(e) Disability. 
 (1) General. This Section describes a special service credit and other rules which apply to a Participant who becomes Disabled before age sixty-five (65) and while he or she is an Eligible
Employee (i.e., a “Disabled Participant”). In no event shall a Participant be considered Disabled until and unless he or she supplies all information and takes all acts (e.g., submits to medical examinations) reasonably requested by the
Administrator to establish the fact of his or her Disability. 
 (2) Credit for Benefit Service. A Disabled Participant
shall receive credit for Benefit Service during the Disability period. This service credit shall be determined, without duplication of other service credit provided under the Plan for the same period, based upon the complete whole years (with
fractional years being rounded to the nearest whole year) which 

  
 8 

 
elapse during the Disability period. The Disability period shall begin on the date of Disability as determined by the Administrator, taking into account any applicable waiting period (e.g., end
of short-term disability period) prescribed by the Administrator for this purpose, and shall end on the earliest of (i) the date the Participant is no longer Disabled or is considered not to be Disabled, (ii) the date the Disabled
Participant attains age sixty-five (65), and (iii) the date of the Participant’s death. 
 (3) Final Average
Compensation. A Participant’s Final Average Compensation, determined as of the beginning of the Disability period, shall not change during the Disability period. If a Disabled Participant recovers from the Disability before attaining age
sixty-five (65) and returns to employment as an Eligible Employee, Final Average Compensation shall be determined as otherwise provided under the Plan and by assuming the Participant’s Compensation during the Disability period was equal to
the Participant’s Final Average Compensation as of the beginning of the Disability period. 
 (4) Payment of Disability
Benefit. A Disabled Participant shall be entitled to a Retirement Benefit commencing as of the first day of the calendar month next following the Participant’s attainment of age sixty-five (65), even if such individual recovers from such
Disability prior to such date. 
 (5) Death During the Disability Period. If a Disabled Participant dies during the
Disability period or the Disability Period ends by reason of attainment of age sixty-five (65) and the Disabled Participant dies before benefits commence, a death benefit shall be paid after such Disabled Participant’s death to the extent
provided in Section 4. 
 (6) Proof of Disability. The Administrator shall determine whether and when a Participant
is Disabled and may adopt such rules and procedures as it deems appropriate for this purpose. Once a Participant is determined to be Disabled, the Administrator may require the Participant to verify that he or she remains Disabled, and such
verification may include requiring the Participant to submit to one or more medical examinations. If a Participant fails to supply information or take action as requested by the Administrator in order to determine whether the Participant is or
remains Disabled, the Participant shall not be considered Disabled or shall be considered to have recovered from the Disability, as the case may be, except that in no event shall benefits commence prior to the Participant’s age sixty-five (65).

 (f) Compensation. 
 (1) General. Compensation, and thereby Final Average Compensation, shall be determined solely with respect to such remuneration earned from and after a Participant’s Benefit Service Date and
during the period of employment as an Eligible Employee. In the event a Participant is employed with a Group member before becoming an Eligible Employee or, subject to the provisions of Section 3(d)(6), after ceasing to be an Eligible Employee,
the Administrator shall determine the Compensation allocable to periods of such employment in each capacity in such manner as it deems reasonable in its sole discretion under the circumstances (e.g., allocation of MIP bonuses for the year in which
an individual is promoted to an Eligible Employee). 

  
 9 

 (2) Determination. The amount of Compensation, and thereby Final Average
Compensation, shall be as determined from the books and records of the employing Group member and shall be determined on the basis of when the Compensation is paid to the Participant; provided, however, items of Compensation or portions thereof may
be determined on the basis of when the item is earned (in which case the item or portion shall not be again counted as an item or portion of Compensation when paid) by the Participant if and to the extent the Administrator determines such treatment
is appropriate under the circumstances (e.g., including MIP bonuses earned during the final year of employment as Compensation before such bonus is actually paid; including an amount deferred at the election of the Participant as Compensation when
it otherwise would have been paid but for such election). 
 Section 4. Payments in the Event of Death Before the
Benefit Commencement Date. 
 (a) General. This Section describes the pre-retirement death benefit payable under
the Plan to a Beneficiary under circumstances where an individual, who was a Participant immediately before his or her death, dies before the Benefit Commencement Date. Except as provided in Appendix A, this death benefit shall be in lieu of any
other benefits under the Plan with respect to such a Participant. 
 (b) Vested Participant. No death benefit shall be
payable pursuant to this Section 4 unless the deceased former Participant had a non-forfeitable interest in his or her Retirement Benefit (determined without regard to the forfeiture provision of Section 6(b) unless such section has been
actually enforced as to such individual) as of the date of death or as a consequence of such death (e.g., death while in service with a Group member); provided, however, such a Participant who otherwise had such a non-forfeitable interest shall not
be considered to have had such an interest if he or she is subsequently determined to have forfeited such benefit as provided for in Section 6(b), even if such action or determination is made after such Participant’s death. 

(c) Amount and Timing of Benefit Payment. 
 (1) General. Except as otherwise provided herein, the benefit payable to the Beneficiary shall be determined by multiplying the Participant’s Pension Amount, determined as of the end of the
month which includes the date of death and as if the Participant had not died, by the appropriate factor from Table 1 to reflect the period, if any, beginning on the first day of the calendar month next following the calendar month in which the
Participant died and ending on the later of the first day of the third calendar month next following the calendar month of such Participant’s death and the first day of the calendar month immediately following the calendar month in which such
Participant, had he or she survived, would have attained age fifty-five (55). 
 (2) Lump Sum. The death benefit provided
under this Section 4 shall be paid to the Beneficiary in a lump sum within ninety (90) days following the date of the Participant’s death. 
 (d) Beneficiary. The identity of the Beneficiary and the rules with respect to the payment of benefits to such Beneficiary shall be as provided in Section 5. 

  
 10 

 Section 5. Payment of Retirement Benefits. 

(a) General. The Participant shall be responsible for providing such information as the Administrator deems appropriate or useful
for processing the payment of the Retirement Benefit. Unless and only to the extent there is a good faith dispute over the right to the Retirement Benefit or the amount due (and reasonable corresponding efforts to resolve same), the Retirement
Benefit shall be paid commencing as of the Benefit Commencement Date based on the information reasonably available to the Administrator. If there is a delay in the actual commencement of the Retirement Benefit past the Benefit Commencement Date, the
Benefit Commencement Date shall not change and the Participant shall be entitled to receive those benefits which would have been paid on or after such date, but for the delay, but without interest thereon. 

(b) Lump Sum. Notwithstanding anything herein to the contrary, the Retirement Benefit shall be paid to the Participant in a lump
sum on the Benefit Commencement Date if the Pension Amount payable hereunder, plus the Pension Amount payable to the Participant under the Pentair, Inc. Restoration Plan (if any), is $150,000 or less as of the Benefit Commencement Date. 

(c) Re-Employment after Commencement of Benefits. 
 (1) General. If a Participant has commenced receiving a Retirement Benefit and subsequent to such commencement again becomes an employee of a Group member, then payment of such benefit shall not
cease during the period of re-employment by reason of such re-employment. 
 (2) Additional Benefit. In the event the
Participant so returns to employment as an Eligible Employee, the Retirement Benefit and Section 4 death benefit payable, if any, for the period of such re-employment shall be determined and paid as if the Participant had no prior service with
a Group member except all of such a Participant’s Years of Service, whether earned before or after such re-employment, shall be aggregated for purposes of applying Section 3(b)(1). 

(d) Death Before End of 180 Month Period. 
 (1) Death After the Benefit Commencement Date. If a Participant to whom the Retirement Benefit is being paid dies after the Benefit Commencement Date and before the end of the one hundred eighty
(180) month period over which such benefit is payable, the monthly benefit for the balance of such period shall continue to be paid to such Participant’s Beneficiary. 

(2) Others. The benefit payable after the death of any former Participant not described in paragraph (1) immediately
preceding shall be determined under Section 4. 
 (e) Beneficiary. 

(1) General. Except as otherwise limited by paragraph (2) immediately following, a Participant may at any time and without
the consent of any other person designate a 

  
 11 

 
Beneficiary, or change any such prior designation, entitled to receive any Plan benefits payable after the Participant’s death. No such purported designation shall be effective unless it is
made in such form and manner as prescribed by the Administrator. No person shall be recognized as a Beneficiary unless and until such person provides such information or certifications as required under the circumstances by the Administrator. If
there is a delay in the payment of the death benefit to the Beneficiary past the date otherwise provided under the Plan (e.g., there is a delay in determining the person entitled to receive such benefits), the Beneficiary shall be entitled to
receive the benefit which would have been paid to such Beneficiary on or after such date, but for the delay, but without interest thereon. 
 (2) Married Participants. The sole primary Beneficiary of (i) a Participant or former Participant who has a Spouse as of such Participant’s Benefit Commencement Date or (ii) a former
Participant with respect to whom a benefit is payable under Section 4, and who is survived by a Spouse, shall be such Spouse. In the event such Spouse (x) waives the right to be the sole primary beneficiary of the Participant in such form
and manner as prescribed by the Administrator, (y) does not survive such Participant under the circumstances described in clause (i) immediately preceding or (z) does not survive the one hundred eighty (180) month term certain
period over which such benefits are payable, such Participant’s Beneficiary with respect to any benefits payable after such Participant’s death shall be determined as otherwise provided in this Section 5(e) without regard to this
paragraph (2). 
 (3) Default Takers. If a Participant or former Participant fails to make a valid beneficiary
designation, makes such a designation but is not survived by any of the persons named as a primary or contingent beneficiary, makes such a designation but the beneficiary named does not survive the period over which the benefits are paid and no
other designated beneficiary is then entitled to the share of such deceased beneficiary, or makes such a designation but such designation does not effectively dispose of all benefits payable after such Participant’s death, then, and to the
extent such benefits are payable after such Participant’s death, all such benefits shall be paid to the executor or personal representative of such Participant’s estate or, if there is no such person, then in accordance with the laws of
intestate succession of the jurisdiction in which such Participant was domiciled as of the date of death. 
 (f)
Non-Alienation. Except as otherwise provided under the Plan or as required under applicable law, unless otherwise determined by the Administrator, no right or benefit under this Plan shall be subject in any manner to anticipation, alienation,
sale, transfer, assignment, pledge, encumbrance, or charge, and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge the same shall be void, and no such right or benefit shall be in any manner liable for or
subject to the debts, contracts, liabilities, engagements, or torts of any person entitled to such right or benefit, and no such right or benefit shall be subject to garnishment, attachment, execution, or levy of any kind. 

(g) Miscellaneous. 
 (1) Payment on Behalf of Incompetent Participants or Beneficiaries. If the Administrator shall determine a Participant or Beneficiary entitled to a distribution hereunder is incapable of caring for
his or her own affairs because of illness or otherwise, it may direct that any Plan benefit payments be made in such shares as it shall determine, to the attorney-in-fact, 

  
 12 

 
Spouse, child, parent or other blood relative of such Participant or Beneficiary, or any of them, or to such other person or persons as the Administrator may determine, until such date as it
shall determine such incapacity no longer exists; provided, however, the exercise of this discretion shall not cause an acceleration or delay in the time of payment of Plan benefits except to the extent, and only for the duration of, the time
reasonably necessary to resolve such matters or otherwise protect the interests of the Plan and the Company. The Administrator shall be under no obligation to see to the proper application of the payments so made to such person or persons and any
such payment shall be a complete discharge of any liability under the Plan to such Participant or Beneficiary, to the extent of such distribution. 
 (2) Mailing and Lapse of Payments. All payments under the Plan shall be delivered in person or mailed to the last address supplied to the Administrator by the Participant or Beneficiary, as the
case may be. If after reasonable inquiry the Administrator cannot locate the person entitled to the Plan benefits, then payment of such benefits shall be suspended. If such person is thereafter located, however, then such suspension shall
immediately cease and the person shall be entitled to receive all benefits he or she would otherwise have been entitled to receive under the Plan but for such suspension, but without interest thereon. 

(3) Overpayment. If the benefits paid to any person exceed the benefits to which the person was actually entitled, then to the
extent of such excess, and as and when payable, future benefits shall be reduced in such manner as the Administrator deems appropriate or, if such reduction is not possible, the Administrator may undertake such actions as it deems reasonable to
recover the excess. 
 (4) Address and TIN. Each Participant or Beneficiary shall be responsible for furnishing the
Administrator with his or her correct current address and taxpayer identification number. 
 (5) Requirement of Releases.
If in the opinion of the Administrator, any present or former Spouse or dependent of a Participant or other person shall by reason of the law of any jurisdiction appear to have any bona fide interest in Plan benefits that may become payable to a
Participant or with respect to a deceased Participant, or otherwise has asserted such a claim, the Administrator may direct such benefits be withheld pending receipt of such written releases as it deems necessary to prevent or avoid any conflict or
multiplicity of claims with respect to the payment of such benefits, but only to the extent and for the duration reasonably necessary to resolve such matters or otherwise protect the interests of the Plan and the Company. 

Section 6. Confidentiality, Covenants Not to Compete, and Non-Solicitation. 

(a) General. Each Eligible Employee acknowledges that as a key executive of the Company or other Group member he or she has become
familiar and will continue to be familiar with the trade secrets, know-how, executive personnel, strategies, other confidential information and data of the Group and its members. Each Eligible Employee further acknowledges that the financial
security of the Group and the Company’s shareholders depends in large part on the efforts of executives like the Eligible Employee, and that a basic premise for the Plan is to compensate such individuals for their efforts in causing the Group
to grow and prosper, thereby helping to insure the Group’s financial future for years well beyond the individual’s period of 

  
 13 

 
service. Therefore, in consideration of the extension of the Plan to an Eligible Employee, he or she agrees that (i) after Separation from Service or other cessation of employment with all
Group members he or she shall not (directly or indirectly), without the Company’s prior written consent, use or disclose to any other person any confidential information or data concerning the Company or other Group members or former Group
members, and (ii) for a period of three (3) years from such separation or cessation he or she shall not (directly or indirectly) and without the Company’s prior written consent: 

 

	 	(1)	own, manage, control, participate in, consult with or render services of any kind for any concern which engages in a business which is competitive with any business
being conducted, or contemplated being conducted, by the Group as of the date of such separation or cessation; 

  

	 	(2)	become an employee or agent of any publicly traded corporation or other entity, or any division or subsidiary of such a corporation or entity, where more than 5% of
such organization’s business is in competition with any business being conducted, or contemplated being conducted, by the Group as of the date of Separation from Service or other cessation of employment, unless the annual sales of such
organization do not exceed $40 million; 

  

	 	(3)	participate in any plan or attempt to acquire the business or assets of the Group or control of the voting stock of any member thereof, or in any manner interfere with
the control of the Company, whether by friendly or unfriendly means; or 

  

	 	(4)	induce or attempt to induce any individual to leave the employ of the Company or other Group member or hire any such individual who approaches him or her for
employment. 

 If at the time of enforcement of the terms of this Section 6, a court shall hold that the duration, scope or
area of restriction stated herein are unreasonable under the circumstances then existing, the Eligible Employee agrees that the maximum duration, scope or area reasonable under such circumstances shall be substituted for the stated duration, scope,
or area. 
 (b) Forfeiture and Other Remedies. Upon any breach of the covenants described in this Section, all benefits
then due under the Plan (and all benefits which otherwise would be due under the Plan in the future) to the Eligible Employee or his or her beneficiaries shall be forfeited. The covenants described in this Section run in favor of and shall be
enforceable by the Company or its assigns. The Company shall be entitled to all legal and equitable remedies to prevent, cure and compensate for a breach of the covenants described herein, without posting of bond, and all such remedies shall be in
addition to such forfeiture. By accepting coverage under the Plan, each Eligible Employee acknowledges and agrees that his or her breach of the covenants described in this Section 6 will result in irreparable harm to the Company. Therefore, to
remedy or prevent such a breach the Company shall be entitled to enjoin the Eligible Employee from taking or failing to take such actions as will or which may be reasonably considered to cause such a breach, including an injunction to prevent the
Eligible Employee from breaching the terms of this Section 6. 

  
 14 

 Section 7. Funding and Payment of Benefits. 

(a) General. The Plan is an unfunded deferred compensation arrangement. No Group member shall establish or is required to
establish any trust to fund benefits provided under the Plan, and no such member shall establish or is required to establish any type of earmarking or segregation of its assets to provide for such benefits. In the event of default of a Group
member’s obligations hereunder, each Participant and his or her beneficiaries shall have no greater entitlements or security than does a general creditor of the Group member. 

(b) Employer Company. Except as otherwise expressly provided herein, the Employer Company shall pay or provide for the payment of
benefits hereunder. If the Employer Company does not timely pay such benefits, then, except as described in subsection (c), the sole recourse of the claimant Participant or Beneficiary is against such Employer Company and no other member of the
Group shall be responsible to pay or provide for the payment of such benefits or liable for the nonpayment thereof. 
 (c)
Company Assumption of Liability. Under the following circumstances, the Company shall assume and be responsible for the payment of benefits hereunder even though it is not the Employer Company: 

 

	 	(i)	the Employer Company is not participating in the Plan as of the date benefits hereunder are scheduled to commence to a Participant or his or her beneficiaries;

  

	 	(ii)	the Employer Company does not timely pay or provide for the payment of benefits hereunder and such failure is not corrected within thirty (30) days; or

  

	 	(iii)	the Participant has a Separation from Service due to a sale of the stock (or rights analogous to stock) or assets of a Group member, and the Participant has earned a
non-forfeitable Retirement Benefit (determined without regard to the forfeiture provision of Section 6(b) unless such section has been actually enforced as to such individual) on or before the date of such termination. 

The Company’s obligation under paragraph (i) shall cease when the Employer Company agrees to participate in the Plan. The Company’s
obligation under paragraph (ii) shall cease when the Employer Company is current on its payment of benefits. The Company’s obligation under paragraph (iii) shall not come into effect (or if previously effective, shall cease) as of the
date the person who purchased such stock or assets, or a person who controls such person, agrees in writing to assume the liability for the benefits the Participant has then earned hereunder; provided, however, that upon a Change in Control the
Company, any person in control of the Company, and the Employer Company if not the Company, shall be jointly and severally responsible for payment of benefits hereunder regardless of the other provisions of this Section 7 and the assumption of
such liability by another person shall not discharge the Company, any person in control of the Company, and such Employer Company from liability hereunder. 
 (d) Participation by Other Group Members. A member of the Group may join in this Plan by adopting a written resolution of its board of directors, and delivering such resolution to the
Administrator. Any Group member, other than the Company, may end its participation under the Plan by a written resolution of its board of directors delivered to the Committee, provided, 

  
 15 

 
however, that no such resolution ending participation shall be effective until thirty (30) days after it is received by the Administrator. By agreeing to join in the Plan, each Group member
agrees to pay or provide for the payment of benefits hereunder to those Participants and their beneficiaries with respect to whom such member is the Employer Company. No such member, other than the Company, shall have any power or authority to
terminate, amend, administer, modify, or interpret the Plan, all such powers being reserved to the Administrator and the Committee. 
 Section 8. Default. Should the Employer Company (and the Company to the extent provided for in Section 7(c)) fail to pay when due any benefit under the Plan to or with respect to a
Participant or Beneficiary and such failure to pay continues for a period of sixty (60) days from receipt of a written notice of nonpayment from the affected Participant or Beneficiary, the Employer Company (and the Company to the extent
provided in Section 7(c)) shall be in default hereunder and shall pay to the Participant or Beneficiary the benefits past due and, by the end of the year next following the year incurred, the reasonable costs of collection of any such amount,
including reasonable attorney’s fees and costs, so long as such costs are submitted by or on behalf of the Participant or Beneficiary to reasonably allow that timely reimbursement; provided, however, if the Administrator in good faith disputes
the amount of such benefit due or whether a person is entitled to such a benefit, then to the extent and duration of such a dispute the Employer Company (and the Company to the extent provided for in Section 7(c)) shall not be considered in
default hereunder; provided further, however, upon a Change in Control a Participant for whom and while a Covered Termination may occur, shall be entitled to payment or reimbursement of such costs of collection as provided under Section 13(l).

 Section 9. Administration of the Plan. 

(a) General. The Company, through its designated officers and agents, shall be the Administrator and thereby handle the day-to-day
administration of the Plan and such other administrative duties as are allocated to the Administrator under the Plan. All such administrative duties and powers shall be performed by and rest in the Company’s Senior Vice President of Human
Resources (or persons designated by such Senior Vice President). Except as otherwise provided under the Plan, the Administrator shall: 
  

	 	(1)	determine the rights and benefits of individuals and other persons under the Plan; 

 

	 	(2)	interpret, construe, and apply the provisions of the Plan; 

  

	 	(3)	process and direct the payment of Plan benefits; 

  

	 	(4)	adopt such forms as it deems appropriate or desirable to administer the Plan and pay benefits thereunder; and 

 

	 	(5)	adopt such rules and procedures as it deems appropriate or desirable to administer the Plan. 

(b) Committee. The Committee shall exercise such powers as are allocated to it under the Plan and shall be empowered to direct
other persons as to Plan administration, and its directions shall be followed to the extent consistent with the powers delegated to the Committee and not otherwise contrary to the provisions of the Plan. 

  
 16 

 (c) Discretion. In exercising their powers and duties under this Section, and their
other powers and duties granted under the Plan, the Committee and the Administrator and each member or delegate thereof is granted such discretion as is appropriate or necessary to carry out such duties and powers. This discretion necessarily
follows from the fact that the Plan does not, and is not intended to, prescribe all rules necessary to administer the Plan or anticipate all circumstances or events which may arise in the course of such administration. 

(d) Indemnity. No member of the Committee or person acting on behalf of the Administrator shall be subject to any liability with
respect to the performance of his or her duties under the Plan or a related document unless he or she acts fraudulently or in bad faith. The Company shall indemnify and hold harmless the members of the Committee and the Company’s officers and
employees, and the officers and employees of another Group member, from any liability with respect to the performance of their duties under the Plan, unless such duties were performed fraudulently or in bad faith. Such indemnification shall cover
any and all reasonable attorneys’ fees and expenses, judgments, fines and amounts paid in settlement, but only to the extent such amounts are actually and reasonably incurred, not otherwise paid or reimbursable under an applicable employer paid
insurance policy, and not duplicative of other payments made or reimbursements due by the Company or its affiliates under other indemnity agreements. 
 (e) Code Section 409A. The Plan shall be administered, and the Administrator and the Committee shall exercise their discretionary authority under the Plan, in a manner consistent with Code section
409A and Treasury Regulations and other applicable guidance thereunder. Any permissible discretion to accelerate or defer a Plan payment under such Regulations, the power which to exercise is not otherwise described expressly in the Plan, shall be
exercised by the Committee. Any other discretion with respect to, or which directly or indirectly impact, the application of Code section 409A, the exercise of which is not expressly lodged in the Committee, shall be exercised by the Administrator.
In the event the matter over which such discretion may be exercised relates to a Committee member or a delegate of the Administrator, or such member or delegate is otherwise unable to freely exercise such discretion, such member or delegate shall
not take part in the deliberations and decisions regarding that matter. 
 (f) Use of Professional Services. The
Administrator and the Committee may obtain the services of such attorneys, accountants, record keepers or other persons as it deems appropriate, any of whom may be the same persons who are providing services to the Company or other Group member. In
any case in which the Administrator and the Committee utilizes such services, it shall retain exclusive discretionary authority and control over the administration and operation of the Plan. 

(g) Communications. Requests, claims, appeals, and other communications related to the Plan shall be in writing and shall be made
by transmitting the same via the U.S. Mail to the Company’s Senior Vice President of Human Resources, at the Company’s corporate headquarters address. 

  
 17 

 Section 10. Effect of KEESA. If a Participant incurs a Covered Termination,
then as or with respect to that Participant: 
  

	 	(i)	notwithstanding the provisions of Section 6, the scope or duration (or both) of such Participant’s covenants under Section 6 shall be no greater or
longer than similar covenants provided for in such Participant’s KEESA and, to the extent there are no such similar covenants in such Participant’s KEESA, then Section 6 shall be void and of no force and effect; and

  

	 	(ii)	in the case of any conflict between the terms and provisions of this Plan and the terms and provisions of such Participant’s KEESA, the terms of such
Participant’s KEESA shall control to the extent more beneficial to such Participant, and the obligations of the Company under such KEESA shall be in addition to any of its obligations under the Plan. 

Section 11. Amendment or Termination. 
 (a) General. This Plan may be terminated or amended, in whole or in part, at any time by written resolution of the Board. Any such action may apply to the Plan as a whole, or any individual
Participant or group of Participants. Except as provided in Section 11(b) and (c), any such action may reduce or eliminate (retroactively or prospectively, or both) any benefits under the Plan that otherwise would be payable but for such
action. 
 (b) Limitation on Power to Amend or Terminate. (1) Vested Participants. As to any Participant who
has earned a non-forfeitable Retirement Benefit (determined without regard to Section 6) before the date the Plan is amended or terminated (or, if later, before the date such action is effective), no such amendment or termination shall (without
the specific written consent of the Participant): 
  

	 	(i)	reduce the Retirement Benefit earned by the Participant; 

  

	 	(ii)	reduce the amount of Retirement Benefit then being paid to a Participant; or 

 

	 	(iii)	terminate, amend, or otherwise change the liability of the Company, Employer Company, or other person to pay or provide for the payment of Retirement Benefits protected
under clauses (i) and (ii) immediately preceding. 

 (2) Beneficiaries. As to any former
Participant who has died before the date the Plan is amended or terminated (or, if later, before the date such action is effective), no such amendment or termination shall (without the specific written consent of such Participant’s
Beneficiary): 
  

	 	(i)	reduce the amount of Plan benefits to which such Beneficiary is entitled or change the form in which benefits are payable; or 

 

	 	(ii)	terminate, amend, or otherwise change the liability of the Company, Employer Company, or other person to pay or provide for the payment of benefits protected under
clause (i) immediately preceding. 

  
 18 

 (c) Change in Control. In addition to the limitations described in
Section 11(b), upon a Change in Control and with respect to a Participant for whom a Covered Termination has or may occur, then without the specific written consent of the Participant (or Beneficiary in the event of the Participant’s
death), the Plan as in existence immediately prior to the Change in Control may not be (directly or indirectly) terminated, amended, or otherwise changed in any substantive respect during the three year period beginning with the date of the Change
in Control, but only with respect to such individual. The prohibition herein described shall apply to any action which affects or is intended to affect the terms and provisions of the Plan as then in effect during such three year period, regardless
of when made or effective. 
 (d) Continuation of Plan Provisions. To the extent that any Plan benefits, and rights and
obligations allocable thereto, are protected under Section 11(b) and (c), then as to the persons described in Section 11(b) and (c) the Plan shall continue in force and effect, as if no such amendment or termination had occurred,
until such benefits are fully paid or fully provided for to such persons. 
 Section 12. Claims. 

(a) Filing Claims. A Participant or Beneficiary (or a person who in good faith believes he or she is a Participant or Beneficiary,
i.e., a “claimant”) who believes he or she has been wrongly denied benefits under the Plan may file a written claim for benefits with the Administrator. Although no particular form of written claim is required, no such claim shall be
considered unless it provides a reasonably coherent explanation of the claimant’s position. 
 (b) Decision on
Claim. The Administrator shall in writing approve or deny the claim within sixty (60) days of receipt, provided that such sixty (60) day period may be extended for reasonable cause by notifying the claimant. If the claim is denied, in
whole or in part, the Administrator shall provide notice in writing to the claimant, setting forth the following: 
  

	 	(1)	the specific reason or reasons for the denial; 

  

	 	(2)	a specific reference to the pertinent Plan provisions on which the denial is based; 

 

	 	(3)	a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material is necessary; and

  

	 	(4)	the steps to be taken if the claimant wishes to appeal the decision to the Committee. 

(c) Appeal of Denied Claim. (1) Filing Appeals. A claimant whose claim has been denied in whole or in part may appeal
such denial to the Committee by filing a written appeal with the Administrator within sixty (60) days of the date of the denial. A decision of the Administrator which is not appealed within the time herein provided shall be final and conclusive
as to any matter which was presented to the Administrator. 
 (2) Rights on Appeal. A claimant (or a claimant’s duly
authorized representative) who appeals the Administrator’s decision shall, for the purpose of preparing such appeal, have the right to review any pertinent Plan documents, and submit issues and comments in writing to the Committee. 

  
 19 

 (d) Decision by Appeals Committee. The Committee shall make a final and full review
of any properly appealed decision of the Administrator within sixty (60) days after receipt of the appeal, provided that such period may be extended for reasonable cause by notifying the claimant. The Committee’s decision shall be in
writing and shall include specific reasons for its decisions and specific references to the pertinent Plan provisions on which its decision is based. 
 Section 13. Miscellaneous. 
 (a) Employer’s Rights.
The right of a Group member to discipline or discharge employees or to exercise rights related to the tenure of employment shall not be adversely affected in any manner by reason of the existence of the Plan or any action hereunder. 

(b) Interpretation. Section and subsection headings are for convenient reference only and shall not be deemed to be part of the
substance of this instrument or in any way to enlarge or limit the contents of any Section or subsection. Masculine gender shall include the feminine, and vice versa, and singular shall include the plural, and vice versa, unless the context clearly
requires otherwise. 
 (c) Withholding of Taxes. All benefits earned under the Plan or the payment of such benefits, as
the case may be, shall be subject to withholding for federal, state, local and other taxes as required by law. If and to the extent any such withholding is required before such benefits are paid to the Participant or Beneficiary, such withholdings
shall be made from amounts otherwise payable to such person by a Group member (e.g., salary). If no such other amounts are available to satisfy such withholdings, the Company may reduce the Participant’s Retirement Benefit by the amount needed
to pay the Participant’s portion of such tax, plus, with respect to a distribution for FICA taxes, an amount equal to the withholding taxes due under federal, state or local law resulting from the payment of such FICA tax, and an additional
amount to pay the additional income tax at source on wages attributable to the pyramiding of the section 3401 wages and taxes, but no greater than the aggregate of the FICA amount and the income tax withholding related to such FICA amount.

 (d) Offset for Amounts Due. A Participant’s Retirement Benefit may be reduced by one or more offsets to repay any
amounts then due and owing by the Participant to a Group member, unless another means of repayment is agreed to by the Administrator. Except for the right to immediate offset by reduction of the vested Pension Amount for an amount up to $5,000, or
such higher amount as allowed in Treasury Regulations under Code section 409A or other applicable guidance, no such offset shall be made before an amount is scheduled to be paid to the Participant or Beneficiary and the amount then offset shall not
exceed the amount that would be then otherwise paid. 
 (e) Computational Errors. In the event mathematical, accounting,
actuarial or other errors are made in administration of the Plan, the Administrator may make equitable adjustments, which adjustments may be retroactive, to correct such errors. Such adjustments shall be conclusive and binding on all Participants
and Beneficiaries. 

  
 20 

 (f) Requirement of Proof. In discharging their duties and responsibilities under the
Plan, the Administrator and the Committee may require proof of any matter concerning this Plan, and no person shall acquire any rights or be entitled to receive any benefits under this Plan until such proof is furnished. 

(g) Tax Consequences. Neither the Company nor any other Group member represents or guarantees that any particular federal,
foreign, state or local income, payroll, or other tax consequence will result from participation in this Plan or payment of benefits under the Plan. 
 (h) Communications. The Administrator shall prescribe the forms of communication, including forms for benefit application and the like, with respect to the Plan as it deems appropriate. Any such
communication and assent or consent thereto may be handled by electronic means. 
 (i) Not Compensation Under Other Benefit
Plans. No amounts paid or payable to a Participant under the Plan shall be deemed to be salary or compensation for purposes of any other employee benefit plan of the Company or any other Group member except as and to the extent otherwise
specifically provided in such other plan. 
 (j) Choice of Law. To the extent not preempted by ERISA or any other federal
statute, the construction and interpretation of the Plan shall be governed by the laws of the State of Minnesota, without reference to conflict of law principles thereof. 
 (k) Savings Clause. Should any valid federal or state law or final determination of any agency or court of competent jurisdiction affect any provision of this Plan, the Plan provisions not affected
by such determination shall continue in full force and effect. 
 (l) Change in Control. A Participant, with a KEESA in
effect at the time of a Change in Control, shall be entitled to adjudicate any dispute regarding his or her benefits or rights and entitlements under the Plan, after compliance to the extent necessary with the claim procedures under Section 12,
in the forums and venues as provided in Section 22 of the KEESA, and shall be entitled to payment or reimbursement of costs and expenses related to such adjudication as provided in Section 15 of the KEESA. 

Section 14. Transition Rules. 
 (a) General. Except as described in this Section, this Plan document shall govern when and how Plan benefits are payable with respect to individuals who are Participants on or after January 1,
2009. For the period that began on January 1, 2005 and ended December 31, 2008, the Plan as in effect on December 31, 2004 governed the rights and obligations of the Company and Participants, except as modified by the Administrator in
its discretion so that the Plan and its operations were in good faith compliance with Code section 409A. 
 (b) 2004 Vested
Participants Benefits. The Plan document in effect as of December 31, 2004 (the “2004 Plan”) shall govern when and how then vested Plan benefits are payable, including the elections available or discretion granted to choose or
affect the form or commencement date of such benefits. In determining such vested Plan benefits, the Pension 

  
 21 

 
Amount as of such date shall be determined as if the Participant had a Separation from Service on the earlier of (i) December 31, 2004 and (ii) the actual date of such event. The
Pension Amount as so determined shall be increased by the adjustment factor for the period from the first of the month next following the earlier of such dates to the Monthly Installment commencement date, and shall be converted into the Monthly
Installment forms available for payment, all as provided for in the 2004 Plan. 
 (c) Excess. The excess, if any, of the
total Plan benefit payable to or with respect to a Participant expressed as the Monthly Installment over the Plan benefit so payable expressed as the Monthly Installment and described in subsection (b) immediately preceding shall be subject to
this Plan document. 
  
  

The undersigned, by the authority of the Board of Directors of Pentair, Inc., does hereby approve the form and content of this amended
and restated Plan document. 
  

							
	Dated:	 	  
	 		 	  

  
 22 

 APPENDIX A 
 Article 1. General. The supplemental retirement benefit, and benefits related thereto, described in this Appendix A are in addition to the benefits payable under the Plan apart from this
Appendix A. Except as provided in this Appendix A or as necessary and appropriate to implement its provisions, all Plan provisions apart from this Appendix A shall apply to the benefits described herein (e.g., determination of a Beneficiary and the
amount or portion payable to such Beneficiary; the covenants described in Section 6). 
 Article 2. Participants and
Appendix A Benefits. (a) General. The Participant who may be entitled to the supplemental retirement benefit described in this Appendix A and the amount of such benefit is described below. 

 

					
	 Name of Participant
	  	Supplemental Retirement Benefit	 
		
	 Delton D. Nickel
	  	$	256.00 per month for each Year of Service	  

 (b) Year of Service. (1) General. For purposes of applying the benefit formula
described immediately above, a Year of Service means a calendar year ending December 31, beginning with the calendar year ending December 31, 1999 and each anniversary thereof, for which the individual completes 1,000 Hours of Service as
an Eligible Employee. For this purpose, an individual who becomes Disabled shall be considered to have completed 1,000 Hours of Service as of each such December 31 during the Disability period, and an individual who has a Separation from
Service as an Eligible Employee due to death shall be considered to have completed 1,000 Hours of Service for the calendar year of death. 
 (2) Service Upon a Covered Termination. If a Participant, described in Article 2(a) immediately preceding, incurs a Covered Termination, the supplemental retirement benefit described in this
Appendix A as to such Participant shall be no less than the amount determined as if the Participant completed a Year of Service for each calendar year after 1999 and ending with, but including, the calendar year in which he attains or would attain
age sixty-two (62). 
 (c) Supplemental Retirement Benefit Described. The supplemental retirement benefit described in
this Appendix A is a monthly benefit, commencing as of the Benefit Commencement Date and payable as the Monthly Installment. Assuming the Participant is otherwise entitled to receive such benefit, the commencement date of such supplemental
retirement benefit shall be the same date as the Participant’s Retirement Benefit apart from this Appendix A. To account for the fact this Appendix A supplemental benefit is already expressed as a one hundred eighty (180) month term
certain Monthly Installment whereas the Retirement Benefit apart from this Appendix A is derived under a formula which starts with the Pension Amount, the amount of such supplemental monthly retirement benefit shall be adjusted if the Participant
survives to the Benefit Commencement Date by the appropriate factor set forth in Table 1 to reflect the period beginning on the first day of the calendar month in which the Separation from Service occurs and ending on the Benefit Commencement Date.

  
 23 

 (d) Death Before Benefit Commencement Date. If the Participant described in this
Appendix A dies before his Benefit Commencement Date, a death benefit shall be paid to such Participant’s Beneficiary in addition to the death benefit payable under Section 4 with respect to such Participant. The commencement date and form
of such death benefit shall be the same as the death benefit payable under Section 4, and the amount of the death benefit provided by this Appendix A shall be the supplemental retirement benefit earned hereunder as of such Participant’s
death, adjusted in a manner consistent with Section 4 to account for the fact such supplemental retirement benefit is already expressed as an Monthly Installment. 

  
 24 

 SCHEDULE 1 
 Active 
  

							
	 Name
	 	 Current Position
	  	SERP
Participation
Date	  	Benefit
Service Date
	Borin, Mark	 	Corporate Controller and Chief Accounting Officer	  	3/31/2008	  	3/31/2008
	Hogan, Randall	 	Chairman, Chief Executive Officer	  	1/1/1999	  	3/16/1998
	Koury, Frederick	 	SVP, Human Resources	  	8/11/2003	  	8/11/2003
	Lageson, Angela	 	SVP, Gen Counsel & Corp Secretary	  	2/23/2010	  	2/23/2010
	Meyer, Mike	 	VP, Treasury and Tax	  	5/1/2004	  	5/1/2004
	Schrock, Michael	 	President and Chief Operating Officer	  	1/1/1999	  	1/1/1999
	Stauch, John	 	EVP and Chief Financial Officer	  	2/12/2007	  	2/12/2007

 Inactive 
  

					
	 Name
	  	SERP
Participation
Date	  	Benefit
Service Date
	 Ainsworth, Louis
	  	1/1/1999	  	7/1/1997
	 Dempsey, Jack
	  	4/4/2005	  	4/4/2005
	 Dessing, Peter
	  	5/1/2004	  	5/1/2004
	 Nickel, Del
	  	1/1/1999	  	10/1/1996
	 Waltz, William
	  	5/1/2004	  	5/1/2004

 SCHEDULE 2 

 

 Items Included 
 Base salary or wages, including such salary or wages deferred at the election of an individual under the Pentair, Inc. Non-Qualified Deferred Compensation Plan 

401(k) plan before-tax and after-tax employee contributions 
 Section 125 plan (flexible benefit plan) pre-tax employee contributions 
 Pentair, Inc.
Employee Stock Purchase and Bonus Plan employer bonus contributions 
 Pentair, Inc. Management Incentive Plan bonus, including such bonus
deferred at the election of an individual under the Pentair, Inc. Non-Qualified Deferred Compensation Plan 
 Holiday pay 

Sick leave pay 
 Bereavement pay 

Jury duty pay 
 Military pay 

Gain-sharing payments 
 Profit-sharing payments

 Short-term disability benefits 

Perquisites

 Items Excluded 
 Cash payments made and property or rights in property other than cash granted under or pursuant to the Pentair Omnibus Stock Incentive Plan 
 Special awards under the Pentair, Inc. Management Incentive Plan 
 Severance pay 

Moving expense reimbursements 
 Employee
business expense reimbursements 
 Tuition reimbursement 
 Adoption assistance payments 
 Computer hardware and software purchase reimbursements 

Special cash awards 
 Foreign duty pay
enhancements 
 Except as expressly provided in the column immediately to the left, amounts contributed to (e.g., deferred salary) or received
under or pursuant to non-qualified deferred compensation arrangements including, but not limited to, the Pentair, Inc. Non-Qualified Deferred Compensation Plan 
 Except as expressly provided in the column immediately to the left, all contributions (other than after-tax employee contributions) to and all benefits received under a tax-qualified plan

 

  
 26 

 TABLE 1 

 

																																													
	 Deferral
Percent
(in
months)
	  	Adjustment
Factor	 	  	Deferral
Percent
(in
months)	 	  	Adjustment
Factor	 	  	Deferral
Percent
(in
months)	 	  	Adjustment
Factor	 	  	Deferral
Percent
(in
months)	 	  	Adjustment
Factor	 	  	Deferral
Percent
(in
months)	 	  	Adjustment
Factor	 	  	Deferral
Percent
(in
months)	 	  	Adjustment
Factor	 
	0	  	 	1.00000	  	  	 	60	  	  	 	1.40255	  	  	 	120	  	  	 	1.96715	  	  	 	180	  	  	 	2.75903	  	  	 	240	  	  	 	3.86968	  	  	 	300	  	  	 	5.42743	  
	1	  	 	1.00565	  	  	 	61	  	  	 	1.41048	  	  	 	121	  	  	 	1.97827	  	  	 	181	  	  	 	2.77463	  	  	 	241	  	  	 	3.89156	  	  	 	301	  	  	 	5.45812	  
	2	  	 	1.01134	  	  	 	62	  	  	 	1.41846	  	  	 	122	  	  	 	1.98946	  	  	 	182	  	  	 	2.79032	  	  	 	242	  	  	 	3.91357	  	  	 	302	  	  	 	5.48898	  
	3	  	 	1.01706	  	  	 	63	  	  	 	1.42648	  	  	 	123	  	  	 	2.00071	  	  	 	183	  	  	 	2.80610	  	  	 	243	  	  	 	3.93570	  	  	 	303	  	  	 	5.52002	  
	4	  	 	1.02281	  	  	 	64	  	  	 	1.43454	  	  	 	124	  	  	 	2.01202	  	  	 	184	  	  	 	2.82196	  	  	 	244	  	  	 	3.95795	  	  	 	304	  	  	 	5.55123	  
	5	  	 	1.02859	  	  	 	65	  	  	 	1.44265	  	  	 	125	  	  	 	2.02340	  	  	 	185	  	  	 	2.83792	  	  	 	245	  	  	 	3.98033	  	  	 	305	  	  	 	5.58262	  
	6	  	 	1.03441	  	  	 	66	  	  	 	1.45081	  	  	 	126	  	  	 	2.03484	  	  	 	186	  	  	 	2.85396	  	  	 	246	  	  	 	4.00283	  	  	 	306	  	  	 	5.61418	  
	7	  	 	1.04026	  	  	 	67	  	  	 	1.45901	  	  	 	127	  	  	 	2.04634	  	  	 	187	  	  	 	2.87010	  	  	 	247	  	  	 	4.02547	  	  	 	307	  	  	 	5.64592	  
	8	  	 	1.04614	  	  	 	68	  	  	 	1.46726	  	  	 	128	  	  	 	2.05791	  	  	 	188	  	  	 	2.88633	  	  	 	248	  	  	 	4.04823	  	  	 	308	  	  	 	5.67785	  
	9	  	 	1.05205	  	  	 	69	  	  	 	1.47556	  	  	 	129	  	  	 	2.06955	  	  	 	189	  	  	 	2.90265	  	  	 	249	  	  	 	4.07112	  	  	 	309	  	  	 	5.70995	  
	10	  	 	1.05800	  	  	 	70	  	  	 	1.48390	  	  	 	130	  	  	 	2.08125	  	  	 	190	  	  	 	2.91906	  	  	 	250	  	  	 	4.09413	  	  	 	310	  	  	 	5.74223	  
	11	  	 	1.06398	  	  	 	71	  	  	 	1.49229	  	  	 	131	  	  	 	2.09302	  	  	 	191	  	  	 	2.93557	  	  	 	251	  	  	 	4.11728	  	  	 	311	  	  	 	5.77470	  
	12	  	 	1.07000	  	  	 	72	  	  	 	1.50073	  	  	 	132	  	  	 	2.10485	  	  	 	192	  	  	 	2.95216	  	  	 	252	  	  	 	4.14056	  	  	 	312	  	  	 	5.80735	  
	13	  	 	1.07605	  	  	 	73	  	  	 	1.50922	  	  	 	133	  	  	 	2.11675	  	  	 	193	  	  	 	2.96886	  	  	 	253	  	  	 	4.16397	  	  	 	313	  	  	 	5.84019	  
	14	  	 	1.08213	  	  	 	74	  	  	 	1.51775	  	  	 	134	  	  	 	2.12872	  	  	 	194	  	  	 	2.98564	  	  	 	254	  	  	 	4.18752	  	  	 	314	  	  	 	5.87321	  
	15	  	 	1.08825	  	  	 	75	  	  	 	1.52633	  	  	 	135	  	  	 	2.14076	  	  	 	195	  	  	 	3.00252	  	  	 	255	  	  	 	4.21119	  	  	 	315	  	  	 	5.90642	  
	16	  	 	1.09441	  	  	 	76	  	  	 	1.53496	  	  	 	136	  	  	 	2.15286	  	  	 	196	  	  	 	3.01950	  	  	 	256	  	  	 	4.23500	  	  	 	316	  	  	 	5.93981	  
	17	  	 	1.10059	  	  	 	77	  	  	 	1.54364	  	  	 	137	  	  	 	2.16503	  	  	 	197	  	  	 	3.03657	  	  	 	257	  	  	 	4.25895	  	  	 	317	  	  	 	5.97340	  
	18	  	 	1.10682	  	  	 	78	  	  	 	1.55237	  	  	 	138	  	  	 	2.17728	  	  	 	198	  	  	 	3.05374	  	  	 	258	  	  	 	4.28303	  	  	 	318	  	  	 	6.00717	  
	19	  	 	1.11307	  	  	 	79	  	  	 	1.56114	  	  	 	139	  	  	 	2.18959	  	  	 	199	  	  	 	3.07101	  	  	 	259	  	  	 	4.30725	  	  	 	319	  	  	 	6.04114	  
	20	  	 	1.11937	  	  	 	80	  	  	 	1.56997	  	  	 	140	  	  	 	2.20197	  	  	 	200	  	  	 	3.08837	  	  	 	260	  	  	 	4.33160	  	  	 	320	  	  	 	6.07530	  
	21	  	 	1.12570	  	  	 	81	  	  	 	1.57885	  	  	 	141	  	  	 	2.21442	  	  	 	201	  	  	 	3.10583	  	  	 	261	  	  	 	4.35609	  	  	 	321	  	  	 	6.10965	  
	22	  	 	1.13206	  	  	 	82	  	  	 	1.58778	  	  	 	142	  	  	 	2.22694	  	  	 	202	  	  	 	3.12340	  	  	 	262	  	  	 	4.38072	  	  	 	322	  	  	 	6.14419	  
	23	  	 	1.13846	  	  	 	83	  	  	 	1.59675	  	  	 	143	  	  	 	2.23953	  	  	 	203	  	  	 	3.14106	  	  	 	263	  	  	 	4.40549	  	  	 	323	  	  	 	6.17893	  
	24	  	 	1.14490	  	  	 	84	  	  	 	1.60578	  	  	 	144	  	  	 	2.25219	  	  	 	204	  	  	 	3.15882	  	  	 	264	  	  	 	4.43040	  	  	 	324	  	  	 	6.21387	  
	25	  	 	1.15137	  	  	 	85	  	  	 	1.61486	  	  	 	145	  	  	 	2.26493	  	  	 	205	  	  	 	3.17668	  	  	 	265	  	  	 	4.45545	  	  	 	325	  	  	 	6.24900	  
	26	  	 	1.15788	  	  	 	86	  	  	 	1.62399	  	  	 	146	  	  	 	2.27773	  	  	 	206	  	  	 	3.19464	  	  	 	266	  	  	 	4.48064	  	  	 	326	  	  	 	6.28433	  
	27	  	 	1.16443	  	  	 	87	  	  	 	1.63317	  	  	 	147	  	  	 	2.29061	  	  	 	207	  	  	 	3.21270	  	  	 	267	  	  	 	4.50598	  	  	 	327	  	  	 	6.31987	  
	28	  	 	1.17101	  	  	 	88	  	  	 	1.64241	  	  	 	148	  	  	 	2.30356	  	  	 	208	  	  	 	3.23087	  	  	 	268	  	  	 	4.53146	  	  	 	328	  	  	 	6.35560	  
	29	  	 	1.17764	  	  	 	89	  	  	 	1.65169	  	  	 	149	  	  	 	2.31659	  	  	 	209	  	  	 	3.24913	  	  	 	269	  	  	 	4.55708	  	  	 	329	  	  	 	6.39154	  
	30	  	 	1.18429	  	  	 	90	  	  	 	1.66103	  	  	 	150	  	  	 	2.32969	  	  	 	210	  	  	 	3.26750	  	  	 	270	  	  	 	4.58284	  	  	 	330	  	  	 	6.42767	  
	31	  	 	1.19099	  	  	 	91	  	  	 	1.67042	  	  	 	151	  	  	 	2.34286	  	  	 	211	  	  	 	3.28598	  	  	 	271	  	  	 	4.60876	  	  	 	331	  	  	 	6.46402	  
	32	  	 	1.19772	  	  	 	92	  	  	 	1.67987	  	  	 	152	  	  	 	2.35610	  	  	 	212	  	  	 	3.30456	  	  	 	272	  	  	 	4.63481	  	  	 	332	  	  	 	6.50057	  
	33	  	 	1.20450	  	  	 	93	  	  	 	1.68937	  	  	 	153	  	  	 	2.36943	  	  	 	213	  	  	 	3.32324	  	  	 	273	  	  	 	4.66102	  	  	 	333	  	  	 	6.53732	  
	34	  	 	1.21131	  	  	 	94	  	  	 	1.69892	  	  	 	154	  	  	 	2.38282	  	  	 	214	  	  	 	3.34203	  	  	 	274	  	  	 	4.68737	  	  	 	334	  	  	 	6.57428	  
	35	  	 	1.21816	  	  	 	95	  	  	 	1.70853	  	  	 	155	  	  	 	2.39630	  	  	 	215	  	  	 	3.36093	  	  	 	275	  	  	 	4.71388	  	  	 	335	  	  	 	6.61146	  
	36	  	 	1.22504	  	  	 	96	  	  	 	1.71819	  	  	 	156	  	  	 	2.40985	  	  	 	216	  	  	 	3.37993	  	  	 	276	  	  	 	4.74053	  	  	 	336	  	  	 	6.64884	  
	37	  	 	1.23197	  	  	 	97	  	  	 	1.72790	  	  	 	157	  	  	 	2.42347	  	  	 	217	  	  	 	3.39904	  	  	 	277	  	  	 	4.76733	  	  	 	337	  	  	 	6.68643	  
	38	  	 	1.23894	  	  	 	98	  	  	 	1.73767	  	  	 	158	  	  	 	2.43717	  	  	 	218	  	  	 	3.41826	  	  	 	278	  	  	 	4.79429	  	  	 	338	  	  	 	6.72424	  
	39	  	 	1.24594	  	  	 	99	  	  	 	1.74750	  	  	 	159	  	  	 	2.45095	  	  	 	219	  	  	 	3.43759	  	  	 	279	  	  	 	4.82140	  	  	 	339	  	  	 	6.76226	  
	40	  	 	1.25299	  	  	 	100	  	  	 	1.75738	  	  	 	160	  	  	 	2.46481	  	  	 	220	  	  	 	3.45703	  	  	 	280	  	  	 	4.84866	  	  	 	340	  	  	 	6.80049	  
	41	  	 	1.26007	  	  	 	101	  	  	 	1.76731	  	  	 	161	  	  	 	2.47875	  	  	 	221	  	  	 	3.47657	  	  	 	281	  	  	 	4.87607	  	  	 	341	  	  	 	6.83894	  
	42	  	 	1.26719	  	  	 	102	  	  	 	1.77731	  	  	 	162	  	  	 	2.49276	  	  	 	222	  	  	 	3.49623	  	  	 	282	  	  	 	4.90364	  	  	 	342	  	  	 	6.87761	  
	43	  	 	1.27436	  	  	 	103	  	  	 	1.78735	  	  	 	163	  	  	 	2.50686	  	  	 	223	  	  	 	3.51600	  	  	 	283	  	  	 	4.93137	  	  	 	343	  	  	 	6.91650	  
	44	  	 	1.28156	  	  	 	104	  	  	 	1.79746	  	  	 	164	  	  	 	2.52103	  	  	 	224	  	  	 	3.53588	  	  	 	284	  	  	 	4.95925	  	  	 	344	  	  	 	6.95561	  
	45	  	 	1.28881	  	  	 	105	  	  	 	1.80762	  	  	 	165	  	  	 	2.53529	  	  	 	225	  	  	 	3.55587	  	  	 	285	  	  	 	4.98729	  	  	 	345	  	  	 	6.99493	  
	46	  	 	1.29610	  	  	 	106	  	  	 	1.81784	  	  	 	166	  	  	 	2.54962	  	  	 	226	  	  	 	3.57598	  	  	 	286	  	  	 	5.01549	  	  	 	346	  	  	 	7.03448	  
	47	  	 	1.30343	  	  	 	107	  	  	 	1.82812	  	  	 	167	  	  	 	2.56404	  	  	 	227	  	  	 	3.59619	  	  	 	287	  	  	 	5.04385	  	  	 	347	  	  	 	7.07426	  
	48	  	 	1.31080	  	  	 	108	  	  	 	1.83846	  	  	 	168	  	  	 	2.57853	  	  	 	228	  	  	 	3.61653	  	  	 	288	  	  	 	5.07237	  	  	 	348	  	  	 	7.11426	  
	49	  	 	1.31821	  	  	 	109	  	  	 	1.84885	  	  	 	169	  	  	 	2.59311	  	  	 	229	  	  	 	3.63698	  	  	 	289	  	  	 	5.10105	  	  	 	349	  	  	 	7.15448	  
	50	  	 	1.32566	  	  	 	110	  	  	 	1.85931	  	  	 	170	  	  	 	2.60778	  	  	 	230	  	  	 	3.65754	  	  	 	290	  	  	 	5.12989	  	  	 	350	  	  	 	7.19493	  
	51	  	 	1.33316	  	  	 	111	  	  	 	1.86982	  	  	 	171	  	  	 	2.62252	  	  	 	231	  	  	 	3.67822	  	  	 	291	  	  	 	5.15889	  	  	 	351	  	  	 	7.23562	  
	52	  	 	1.34069	  	  	 	112	  	  	 	1.88039	  	  	 	172	  	  	 	2.63735	  	  	 	232	  	  	 	3.69902	  	  	 	292	  	  	 	5.18806	  	  	 	352	  	  	 	7.27653	  
	53	  	 	1.34827	  	  	 	113	  	  	 	1.89102	  	  	 	173	  	  	 	2.65226	  	  	 	233	  	  	 	3.71993	  	  	 	293	  	  	 	5.21740	  	  	 	353	  	  	 	7.31767	  
	54	  	 	1.35590	  	  	 	114	  	  	 	1.90172	  	  	 	174	  	  	 	2.66726	  	  	 	234	  	  	 	3.74097	  	  	 	294	  	  	 	5.24690	  	  	 	354	  	  	 	7.35904	  
	55	  	 	1.36356	  	  	 	115	  	  	 	1.91247	  	  	 	175	  	  	 	2.68234	  	  	 	235	  	  	 	3.76212	  	  	 	295	  	  	 	5.27656	  	  	 	355	  	  	 	7.40065	  
	56	  	 	1.37127	  	  	 	116	  	  	 	1.92328	  	  	 	176	  	  	 	2.69750	  	  	 	236	  	  	 	3.78339	  	  	 	296	  	  	 	5.30640	  	  	 	356	  	  	 	7.44250	  
	57	  	 	1.37903	  	  	 	117	  	  	 	1.93416	  	  	 	177	  	  	 	2.71276	  	  	 	237	  	  	 	3.80478	  	  	 	297	  	  	 	5.33640	  	  	 	357	  	  	 	7.48458	  
	58	  	 	1.38682	  	  	 	118	  	  	 	1.94509	  	  	 	178	  	  	 	2.72809	  	  	 	238	  	  	 	3.82629	  	  	 	298	  	  	 	5.36657	  	  	 	358	  	  	 	7.52690	  
	59	  	 	1.39467	  	  	 	119	  	  	 	1.95609	  	  	 	179	  	  	 	2.74352	  	  	 	239	  	  	 	3.84793	  	  	 	299	  	  	 	5.39692	  	  	 	359	  	  	 	7.56946	  

  
 27

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]