Document:

EX-10.2

 Exhibit 10.2 

FORM OF 
 TAX MATTERS AGREEMENT

 by and among 
 Fortive
Corporation, 
 Stevens Holding Company, Inc. 

and 
 Altra Industrial Motion
Corp. 
 Dated as of [●] 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  			
		
	 DEFINITIONS
	  	 	2	 
			
	 1.1
	  	General	  	 	2	 
		
	ARTICLE II	  			
		
	 PAYMENTS AND TAX REFUNDS
	  	 	9	 
			
	 2.1
	  	Payment of Taxes	  	 	9	 
	 2.2
	  	Responsibility of Fox	  	 	9	 
	 2.3
	  	Responsibility of Newco	  	 	10	 
	 2.4
	  	Determination of Tax Attributable to the A&S Business	  	 	10	 
	 2.5
	  	Allocation of Employment Taxes	  	 	10	 
	 2.6
	  	Tax Refunds.	  	 	10	 
	 2.7
	  	Tax Benefits	  	 	10	 
	 2.8
	  	Prior Agreements	  	 	11	 
		
	ARTICLE III	  			
		
	 PREPARATION AND FILING OF TAX RETURNS
	  	 	11	 
			
	 3.1
	  	Fox’s Responsibility	  	 	11	 
	 3.2
	  	Newco’s Responsibility	  	 	11	 
	 3.3
	  	Right To Review Tax Returns	  	 	11	 
	 3.4
	  	Cooperation	  	 	12	 
	 3.5
	  	Reporting of the Transactions	  	 	12	 
	 3.6
	  	Straddle Period Tax Allocation	  	 	13	 
	 3.7
	  	Amended Returns and Carrybacks	  	 	13	 
	 3.8
	  	Tax Attributes	  	 	14	 
	 3.9
	  	Expenses	  	 	15	 
		
	ARTICLE IV	  			
		
	 TAX-FREE STATUS OF THE DISTRIBUTION
	  	 	15	 
			
	 4.1
	  	Representations and Warranties	  	 	15	 
	 4.2
	  	Restrictions Relating to the Distribution	  	 	16	 
	 4.3
	  	Procedures Regarding Opinions and Rulings	  	 	19	 

  
 i 

							
	 	  	 	  	Page	 
	ARTICLE V	  			
		
	 INDEMNITY OBLIGATIONS
	  	 	19	 
			
	 5.1
	  	Indemnity Obligations	  	 	19	 
	 5.2
	  	Indemnification Payments	  	 	21	 
	 5.3
	  	Payment Mechanics	  	 	21	 
	 5.4
	  	Treatment of Payments	  	 	22	 
		
	ARTICLE VI	  			
		
	 TAX CONTESTS
	  	 	22	 
			
	 6.1
	  	Notice	  	 	22	 
	 6.2
	  	Separate Returns	  	 	22	 
	 6.3
	  	Joint Return	  	 	22	 
	 6.4
	  	Obligation of Continued Notice	  	 	23	 
	 6.5
	  	Tax Contests in Respect of Transaction Taxes	  	 	23	 
		
	ARTICLE VII	  			
		
	 COOPERATION
	  	 	25	 
			
	 7.1
	  	General.	  	 	25	 
	 7.2
	  	Fox Tax Opinion	  	 	25	 
		
	ARTICLE VIII	  			
		
	 RETENTION OF RECORDS; ACCESS
	  	 	26	 
			
	 8.1
	  	Retention of Records	  	 	26	 
	 8.2
	  	Access to Tax Records	  	 	26	 
		
	ARTICLE IX	  			
		
	 DISPUTE RESOLUTION
	  	 	26	 
			
	 9.1
	  	General	  	 	26	 
		
	ARTICLE X	  			
		
	 MISCELLANEOUS PROVISIONS
	  	 	27	 
			
	 10.1
	  	Coordination with Danaher TMA	  	 	27	 
	 10.2
	  	Certain Provisions Incorporated By Reference	  	 	27	 
	 10.3
	  	Conflicting Agreements	  	 	27	 
	 10.4
	  	Interest on Late Payments	  	 	27	 
	 10.5
	  	Successors	  	 	27	 

  
 ii 

							
	 	  	 	  	Page	 
	 10.6
	  	Application to Present and Future Subsidiaries	  	 	28	 
	 10.7
	  	Assignability	  	 	28	 
	 10.8
	  	No Fiduciary Relationship	  	 	28	 
	 10.9
	  	Further Assurances	  	 	28	 
	 10.10
	  	Survival	  	 	28	 
	 10.11
	  	Notices	  	 	28	 
	 10.12
	  	Effective Date	  	 	29	 

  
 iii 

 TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (this “Agreement”), dated as of [●], is by and among Fortive Corporation, a Delaware
corporation (“Fox”), Stevens Holding Company, Inc., a Delaware corporation (“Newco”), and Altra Industrial Motion Corp., a Delaware corporation (“Ainge”). Each of Fox, Newco and Ainge is sometimes
referred to herein as a “Party” and, collectively, as the “Parties”. 
 R E C I T A L S 

WHEREAS, the board of directors of Fox has determined that it is in the best interests of Fox to separate Fox’s A&S Business from the
other businesses of Fox and to divest the A&S Business in the manner contemplated by the Distribution Agreement and the Merger Agreement (the “Separation”); 

WHEREAS, in order to effect such separation, Fox and Newco have entered into the Distribution Agreement pursuant to which and on the terms and
subject to the conditions set forth therein, Fox will undertake the Internal Restructuring and effect the Newco Contribution and, in exchange for the Newco Contribution, Newco shall (i) issue to Fox additional shares of Newco Common Stock and
the Newco Securities and (ii) agree to pay Fox the Cash Dividend; 
 WHEREAS, following the Newco Contribution, the Parties will
undertake the Debt Exchange as described in the Distribution Agreement; 
 WHEREAS, following the completion of the Internal Restructuring,
the Newco Contribution, the Debt Exchange and the payment of the Cash Dividend, Fox shall own all of the issued and outstanding shares of Newco Common Stock and shall effect the distribution of all of such outstanding Newco Common Stock to the
holders of Fox Common Stock on the terms and subject to the conditions set forth in the Distribution Agreement (the “Distribution”); 

WHEREAS, the Parties contemplate that, pursuant to the Merger Agreement, immediately after the Distribution and at the Effective Time, Merger
Sub shall be merged (the “Merger”) with and into Newco, with Newco surviving the Merger as a wholly owned subsidiary of Ainge, and the Newco Common Stock shall be converted into the right to receive shares of common stock of Ainge
on the terms and subject to the conditions of the Merger Agreement; 
 WHEREAS, for United States federal income tax purposes, the Parties
intend that: (i) the Newco Contribution, taken together with the Distribution, will qualify for non-recognition of gain and loss by Fox and the Fox shareholders pursuant to Sections 355, 361 and
368(a)(1)(D) of the Code; (ii) the Merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Code and (iii) each of the Distribution Agreement and the Merger Agreement will be a plan of
reorganization within the meaning of Section 368 of the Code and Treasury Regulation Section 1.368-2(g); 

WHEREAS, Fox intends to request the Ruling from the IRS; and 

WHEREAS, the Parties desire to (i) provide for the payment of Tax liabilities and entitlement to refunds thereof, allocate responsibility
for, and cooperation in, the filing of Tax Returns, and provide for certain other matters relating to Taxes and (ii) set forth certain covenants and indemnities relating to the preservation of the
Tax-Free Status of the Transactions. 

 NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in
this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 DEFINITIONS 

1.1 General. As used in this Agreement, the following terms shall have the following meanings: 

“A&S Business” shall have the meaning set forth in the Distribution Agreement. 

“Accounting Firm” shall have the meaning set forth in Section 9.1. 

“Adjustment” shall mean an adjustment of any item of income, gain, loss, deduction, credit or any other item affecting Taxes
of a taxpayer pursuant to a Final Determination. 
 “Affiliate” shall have the meaning set forth in the Merger Agreement.

 “Agreement” shall have the meaning set forth in the preamble hereto. 

“Ainge” shall have the meaning set forth in the preamble hereto. 

“Ainge Tax Opinion” shall have the meaning set forth in the Merger Agreement. 

“Article” shall refer to an article of this Agreement, unless otherwise specified. 

“Business Day” shall have the meaning set forth in the Distribution Agreement. 

“Cash Dividend” shall have the meaning set forth in the Distribution Agreement. 

“Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Danaher” means Danaher Corporation, a Delaware corporation. 

“Danaher TMA” shall mean the Tax Matters Agreement, dated as of July 1, 2016, by and between Fox and Danaher. 

“Debt Exchange” shall have the meaning set forth in the Merger Agreement. 

“Direct Sales Entities” shall mean the “Direct Sales Entities” (as defined in the Merger Agreement) and any of
their respective Subsidiaries as of the Effective Time. 
 “Distribution” shall have the meaning set forth in the recitals.

  
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 “Distribution Agreement” shall mean the Separation and Distribution Agreement by
and between Fox, Newco and Ainge, dated as of March 7, 2018. 
 “Distribution Date” shall have the meaning set forth in the
Distribution Agreement. 
 “Due Date” shall mean (a) with respect to a Tax Return, the date (taking into account all
valid extensions) on which such Tax Return is required to be filed under applicable Law and (b) with respect to a payment of Taxes, the date on which such payment is required to be made to avoid the incurrence of interest, penalties or
additions to Tax. 
 “Effective Time” shall have the meaning set forth in the Merger Agreement. 

“Employee Matters Agreement” shall have the meaning set forth in the Distribution Agreement. 

“Employment Tax” shall mean those Liabilities (as defined in the Distribution Agreement) for Taxes which are allocable
pursuant to the provisions of the Employee Matters Agreement. 
 “Final Determination” shall mean the final resolution of
liability for any Tax for any taxable period, by or as a result of (a) a final decision, judgment, decree or other order by any court of competent jurisdiction that can no longer be appealed, (b) a final settlement with the IRS, a closing
agreement or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the Laws of other jurisdictions, which resolves the entire Tax liability for any taxable period, (c) any allowance of a refund or
credit in respect of an overpayment of Tax, but only after the expiration of all periods during which such refund or credit may be recovered by the jurisdiction imposing the Tax, or (d) any other final resolution, including by reason of the
expiration of the applicable statute of limitations or the execution of a pre-filing agreement with the IRS or other Taxing Authority. 

“Fox” shall have the meaning set forth in the preamble hereto. 

“Fox Affiliated Group” shall mean an affiliated group (as that term is defined in Section 1504 of the Code and the
regulations thereunder) of which a member of the Fox Group is a member. 
 “Fox Common Stock” shall have the meaning set
forth in the Distribution Agreement. 
 “Fox Consolidated Taxes” shall mean any U.S. federal income Taxes attributable to
any Fox Federal Consolidated Income Tax Return. 
 “Fox Disqualifying Action” shall have the meaning set forth in
Section 4.2(a). 
 “Fox Federal Consolidated Income Tax Return” shall mean any United States
federal income Tax Return for a Fox Affiliated Group. 
 “Fox Group” shall mean Fox and each Person that is, or has ever
been, a Subsidiary of Fox (other than Newco and any other member of the Newco Group). 

  
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 “Fox Retained Business” shall mean any businesses currently or formerly
conducted by any member of the Fox Group, other than the A&S Business. 
 “Fox Separate Return” shall mean any Tax
Return of or including any member of the Fox Group (including any consolidated, combined or unitary return) that does not include any member of the Newco Group. 

“Fox Tax Opinion” shall have the meaning set forth in the Merger Agreement. 

“Fox Taxes” shall have the meaning set forth in Section 5.1(c)(i). 

“Group” shall mean either the Newco Group or the Fox Group, as the context requires. 

“Indemnifying Party” shall have the meaning set forth in Section 5.2. 

“Indemnitee” shall have the meaning set forth in Section 5.2. 

“Internal Restricted Entity” shall have the meaning set forth on Exhibit B. 

“Internal Restructuring” shall have the meaning set forth in the Distribution Agreement. 

“IRS” shall mean the United States Internal Revenue Service. 

“Joint Return” shall mean any Tax Return that actually includes, by election or otherwise, one or more members of the Fox
Group together with one or more members of the Newco Group. 
 “Law” shall have the meaning set forth in the Distribution
Agreement. 
 “Liabilities” shall have the meaning set forth in the Distribution Agreement. 

“Merger” shall have the meaning set forth in the recitals. 

“Merger Agreement” shall have the meaning set forth in the Distribution Agreement. 

“Merger Sub” shall have the meaning set forth in the Merger Agreement. 

“Newco” shall have the meaning set forth in the preamble hereof. 

“Newco Common Stock” shall have the meaning set forth in the Distribution Agreement. 

“Newco Contribution” shall have the meaning set forth in the Distribution Agreement. 

“Newco Disqualifying Action” shall have the meaning set forth in Section 4.2(b). 

“Newco Group” shall mean, collectively, (a) Newco and each Person that will be a Subsidiary of Newco as of immediately
after the Effective Time and (b) the Direct Sales Entities. 
 “Newco Securities” shall have the meaning set forth in
the Merger Agreement. 

  
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 “Newco Separate Return” shall mean any Tax Return of or including any member of
the Newco Group (including any consolidated, combined or unitary return) that does not include any member of the Fox Group. 

“Newco Taxes” shall have the meaning set forth in Section 5.1(c)(ii). 

“Notified Action” shall have the meaning set forth in Section 4.3(a). 

“Party” and “Parties” shall have the meaning set forth in the preamble hereto. 

“Past Practices” shall have the meaning set forth in Section 3.3. 

“Person” shall have the meaning set forth in the Distribution Agreement. 

“Post-Distribution Period” shall mean any taxable period (or portion thereof) beginning after the Distribution Date,
including for the avoidance of doubt, the portion of any Straddle Period beginning after the Distribution Date. 
 “Pre-Distribution Period” shall mean any taxable period (or portion thereof) ending on or before the Distribution Date, including for the avoidance of doubt, the portion of any Straddle Period ending at the
end of the day on the Distribution Date. 
 “Preparing Party” shall have the meaning set forth in
Sections 3.1 and 3.2. 
 “Proposed Acquisition Transaction” shall mean a transaction or
series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulation Section 1.355-7, or any other regulations promulgated
thereunder, to enter into a transaction or series of transactions), whether such transaction is supported by Newco management or shareholders, is a hostile acquisition, or otherwise, as a result of which Newco (or any successor thereto) would merge
or consolidate with any other Person or as a result of which one or more Persons would (directly or indirectly) acquire, or have the right to acquire, from Newco (or any successor thereto) and/or one or more holders of Newco Common Stock,
respectively, any amount of stock of Newco, that would, when combined with any other direct or indirect changes in ownership of the stock of Newco pertinent for purposes of Section 355(e) of the Code and the Treasury Regulations promulgated
thereunder (including the Merger), comprise fifty percent (50%) or more of (a) the value of all outstanding shares of Newco as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such
series, or (b) the total combined voting power of all outstanding shares of voting stock of Newco as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series. Notwithstanding
the foregoing, a Proposed Acquisition Transaction shall not include (a) the adoption by Newco or an Affiliate of Newco of, or the issuance of stock pursuant to, a shareholder rights plan or (b) issuances by Newco that satisfy Safe Harbor
VIII (relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation
Section 1.355-7(d), including such issuances net of exercise price and/or tax withholding. For purposes of determining whether a transaction constitutes an indirect acquisition, any recapitalization
resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging 

  
 -5- 

 
shareholders. This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and the Treasury Regulations promulgated thereunder and shall be
interpreted accordingly. Any clarification of, or change in, the statute or regulations promulgated under Section 355(e) of the Code (to the extent relevant to the potential application of Section 355(e) to the Distribution) shall be
incorporated in this definition and its interpretation. For the avoidance of doubt, the Merger shall not constitute a Proposed Acquisition Transaction. 

“Qualified Newco Common Stock” means Newco Common Stock that was not acquired directly or indirectly pursuant to a plan (or
series of related transactions) that includes the Distribution (within the meaning of Section 355(e) of the Code), other than Newco Common Stock actually acquired in the Distribution. 

“Reasonable Basis” shall mean reasonable basis within the meaning of Section 6662(d)(2)(B)(ii)(II) of the Code and the
Treasury Regulations promulgated thereunder (or such other level of confidence required by the Code at that time to avoid the imposition of penalties). 

“Refund” shall mean any refund, reimbursement, offset, credit, or other similar benefit in respect of Taxes (including any
overpayment of Taxes that can be refunded or, alternatively, applied against other Taxes payable), including any interest paid on or with respect to such refund of Taxes; provided, however, that the amount of any refund of Taxes shall
be net of any Taxes imposed by any Taxing Authority on, related to, or attributable to, the receipt of or accrual of such refund, including any Taxes imposed by way of withholding or offset. 

“Responsible Party” shall mean, with respect to any Tax Return, the Party having responsibility for preparing and filing such
Tax Return pursuant to this Agreement. 
 “Restricted Period” shall mean the period which begins with the Distribution Date
and ends two (2) years thereafter. 
 “Reviewing Party” shall have the meaning set forth in
Section 3.3. 
 “Ruling” shall mean a private letter ruling from the IRS addressing the tax
consequences of certain aspects of the Newco Contribution, the Distribution and the Debt Exchange. 
 “Ruling Request”
shall mean any letter filed by Fox with the IRS requesting a ruling regarding certain tax consequences of the Transactions and any amendment or supplement to such ruling request letter. 

“Section” shall refer to a section of this Agreement, unless otherwise specified. 

“Section 336(e) Election” shall have the meaning set forth in Section 3.5(b).

 “Section 336(e) Tax Basis” shall have the meaning set forth in
Section 3.5(b)(ii). 
 “Separate Return” shall mean a Fox Separate Return or a Newco Separate
Return, as the case may be. 

  
 -6- 

 “Separation” shall have the meaning set forth in the recitals. 

“Straddle Period” shall mean any taxable year or other taxable period that begins on or before the Distribution Date and ends
after the Distribution Date. 
 “Subsidiary” shall have the meaning set forth in the Distribution Agreement. 

“Tax” or “Taxes” shall mean (a) all taxes, charges, fees, duties, levies, imposts, rates or other
assessments or governmental charges imposed by any federal, state, local or non-United States taxing authority, in each case in the nature of a tax, including, without limitation, income, gross receipts,
employment, excise, severance, stamp, occupation, premium, windfall profits, environmental, custom duties, property, sales, use, license, capital stock, transfer, franchise, registration, payroll, withholding, social security, unemployment,
disability, value added, alternative or add-on minimum or other taxes, whether disputed or not, and including any interest, penalties, charges or additions attributable thereto, (b) liability for the
payment of any amount of the type described in clause (a) above arising as a result of being (or having been) a member of any group or being (or having been) included or required to be included in any Tax Return related thereto, and
(c) liability for the payment of any amount of the type described in clauses (a) or (b) above as a result of any express or implied obligation to indemnify or otherwise assume or succeed to the liability of any other Person. 

“Tax Attributes” shall mean net operating losses, capital losses, research and experimentation credit carryovers, investment
tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall foreign losses, overall domestic losses, previously taxed income, separate limitation losses and any other losses, deductions, credits or other comparable items that
could affect a Tax liability for a past or future taxable period. 
 “Tax Certificates” shall mean any certificates of
officers of Fox, Newco or Ainge provided to Skadden, Arps, Slate, Meagher & Flom LLP, Cravath, Swaine & Moore LLP or any other Law or accounting firm in connection with any Tax Opinion issued in connection with the Transactions.

 “Tax Contest” shall have the meaning set forth in Section 6.1. 

“Tax-Free Status of the External Transactions” shall mean: with respect to the Newco
Contribution, the Distribution and the Merger, the following U.S. federal income tax consequences: (a) the Newco Contribution, taken together with the Distribution, qualifies as a reorganization under Section 368(a)(1)(D) of the Code, with
each of Fox and Newco being a party to the reorganization, in which no gain or loss is recognized by Fox, except to the extent the Cash Dividend exceeds Fox’s adjusted tax basis in the Newco Common Stock and assuming Fox transfers to creditors
or distributes to shareholders the cash received in the Cash Dividend in pursuance of the reorganization within the meaning of Section 361(b)(1) of the Code (it being understood that the Cash Dividend does not include any additional cash
distributed pursuant to Section 5.16(d)(ii) of the Merger Agreement); (b) unless Fox shall have elected to effect the actions set forth in Section 5.16(d) of the Merger Agreement, the Debt Exchange
constitutes a transfer of qualified property to creditors of Fox in connection with the reorganization within the meaning of Section 361(c)(3) of the Code; (c) the Distribution qualifies as a distribution of

  
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Newco stock to Fox shareholders pursuant to which no gain or loss is recognized by Fox and the Fox stockholders under Section 355(a) of the Code, except to the extent of cash received in
lieu of fractional shares; and (d) the Merger qualifies as a tax-free reorganization pursuant to Section 368(a) of the Code, in which no gain or loss is recognized for U.S. federal income tax
purposes by any of Fox, Newco, Ainge or their respective stockholders, except to the extent of cash received in lieu of fractional shares. 

“Tax-Free Status of the Internal Transactions” shall mean, with respect to the
Internal Restructuring, the tax consequences described on Exhibit A.1 

“Tax-Free Status of the Transactions” shall mean, collectively, the Tax-Free Status of the External Transactions and the Tax-Free Status of the Internal Transactions. 

“Tax Law” shall mean the law of any Taxing Authority relating to any Tax. 

“Tax Materials” shall have the meaning set forth in Section 4.1(a). 

“Tax Matters” shall have the meaning set forth in Section 7.1(a). 

“Tax Opinions” shall mean the Fox Tax Opinion and the Ainge Tax Opinion. 

“Tax Proceeding” shall mean any U.S., state, local or foreign Tax audit or administrative, judicial or other proceeding. 

“Tax Records” shall have the meaning set forth in Section 8.1. 

“Tax Return” shall mean any return, report, certificate, form or similar statement or document (including any related
supporting information or schedule attached thereto and any information return, amended tax return, claim for refund or declaration of estimated tax) supplied to or filed with, or permitted or required to be supplied to or filed with, a Taxing
Authority, or any bill for or notice related to ad valorem or other similar Taxes received from a Taxing Authority, in each case, in connection with the determination, assessment or collection of any Tax or the administration of any laws,
regulations or administrative requirements relating to any Tax. 
 “Taxing Authority” shall mean any governmental authority
or any subdivision, agency, commission or entity thereof or any quasi-governmental or private body having jurisdiction over the assessment, determination, collection or imposition of any Tax (including the IRS). 

“Transaction Document” shall have the meaning set forth in the Merger Agreement. 

“Transaction Taxes” shall mean any Taxes (other than Transfer Taxes) imposed on or by reason of the Transactions, including,
without limitation, (a) any Taxes payable by reason of the distribution of cash or any other property from Newco to Fox and (b) the settlement of 

 

	1 	 Note to Draft: Parties will cooperate in good faith to modify Exhibit A between
signing and closing to reflect any changes to the Separation Plan, provided that any such modifications will be made only with the consent of both Fox and Ainge. 

  
 -8- 

 
intercompany receivables, payables, loans and other accounts between Newco or any member of the Newco Group, on the one hand, and Fox and any member of the Fox Group, on the other hand, as
contemplated by Section 1.7 of the Distribution Agreement. 
 “Transactions” shall have the
meaning set forth in the Distribution Agreement. 
 “Transfer Taxes” shall mean all sales, use, transfer, real property
transfer, intangible, recordation, registration, documentary, stamp or similar Taxes imposed with respect to the Transactions, except for such Taxes specifically allocated pursuant to Section 5.5(c) of the Merger Agreement.

 “Treasury Regulations” shall mean the regulations promulgated from time to time under the Code as in effect for the
relevant tax period. 
 “Unqualified Tax Opinion” shall mean a “will” opinion, without substantive
qualifications, of a nationally recognized Law or accounting firm, to the effect that a transaction will not affect the Tax-Free Status of the Transactions. Any such opinion must assume that the Transactions
would have qualified for the Tax-Free Status of the Transactions if the transaction in question did not occur. 

ARTICLE II 
 PAYMENTS AND TAX
REFUNDS 
 2.1 Payment of Taxes. 

(a) With respect to any Tax Return required to be filed pursuant to this Agreement, the Responsible Party shall remit or cause to be remitted
to the applicable Taxing Authority in a timely manner any Taxes due in respect of any such Tax Return. 
 (b) In the case of any Tax Return
for which the Party that is not the Responsible Party is obligated pursuant to this Agreement to pay all or a portion of the Taxes reported as due on such Tax Return, the Responsible Party shall notify the other Party, in writing, of its obligation
to pay such Taxes and, in reasonably sufficient detail, its calculation of the amount due by such other Party and the Party receiving such notice shall pay such amount to the Responsible Party upon the later of five (5) Business Days prior to
the date on which such payment is due and fifteen (15) Business Days after the receipt of such notice. 
 2.2 Responsibility of
Fox . Fox shall pay and be responsible for: 
 (a) any and all Taxes that are attributable to the A&S Business (including any
increase in such Tax as a result of a Final Determination) for all Pre-Distribution Periods, 
 (b)
any and all Taxes that are attributable to the Fox Retained Business (including any increase in such Tax as a result of a Final Determination) for all Tax Periods, and 

  
 -9- 

 (c) any and all Taxes due with respect to or required to be reported on any Fox Separate Return
(including any increase in such Tax as a result of a Final Determination) for all Tax Periods. 
 2.3 Responsibility of Newco. Newco
shall pay and be responsible for any and all Taxes due that are attributable to the A&S Business (including any increase in such Tax as a result of a Final Determination) for all Post-Distribution Periods. 

2.4 Determination of Tax Attributable to the A&S Business. In the case of any Straddle Return that reflects Taxes of
the A&S Business and Taxes of the Fox Retained Business, the Parties shall cooperate in good faith to reasonably and fairly apportion any amount shown as due on such Straddle Return between Newco Taxes and Fox Taxes on the basis of an
appropriate financial metric, including, for example, the relative EBITDAs of the A&S Business and the relevant Fox Retained Business in the applicable jurisdiction. 

2.5 Allocation of Employment Taxes and Deductions. Liability for Employment Taxes shall be determined pursuant to the
Employee Matters Agreement. 
 2.6 Tax Refunds. 

(a) Fox shall be entitled to all Refunds of Taxes the liability for which is allocated to Fox pursuant to this Agreement. 

(b) Newco shall be entitled to all Refunds of Taxes the liability for which is allocated to Newco pursuant to this Agreement. 

(c) Newco shall pay to Fox any Refund received by Newco or any member of the Newco Group that is allocable to Fox pursuant to this
Section 2.6 no later than five (5) Business Days after the receipt of such Refund. Fox shall pay to Newco any Refund received by Fox or any member of the Fox Group that is allocable to Newco pursuant to this
Section 2.6 no later than five (5) Business Days after the receipt of such Refund. For purposes of this Section 2.6(c), any Refund that arises as a result of an offset, credit or other similar
benefit in respect of Taxes other than a receipt of cash shall be deemed to be received on the date on which payment of the Tax that would have otherwise been paid absent such offset, credit or other similar benefit is due (determined without taking
into account any applicable extensions). To the extent that the amount of any Refund in respect of which a payment was made under this Section 2.6 is later reduced by a Taxing Authority or in a Tax Contest, such reduction
shall be allocated to the Party to which such Refund was allocated pursuant to this Section 2.6 and an appropriate adjusting payment shall be made. 

2.7 Tax Benefits. If (a) one Party is responsible for a Tax pursuant to this Agreement or under applicable Law and (b) the
other Party is entitled to a deduction, credit or other Tax benefit relating to such Tax, then the Party entitled to such deduction, credit or other Tax benefit shall pay to the Party responsible for such Tax the amount of any cash Tax savings
realized by the entitled Party as a result of such deduction, credit or other Tax benefit, net of any Taxes imposed by any Taxing Authority on, related to, or attributable to, the receipt of or accrual of such Tax benefit, including any Taxes
imposed by way of withholding or offset. To the extent that the amount of any Tax benefit in respect of which a payment was made under this 

  
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Section 2.7 is later reduced by a Taxing Authority or in a Tax Contest, the Party that received such payment shall refund such payment to the Party that made such
payment to the extent of such reduction. The Parties shall cooperate in good faith to determine the existence of and size of any such Tax benefit; provided, that if the Parties cannot agree on such determination, then each Party will appoint
a nationally recognized independent public accounting firm to resolve such dispute. If such firms are unable to agree on a resolution within thirty (30) days after the submission of such dispute to such firms, then the Parties agree that the
value of the Tax benefit will be deemed equal to the arithmetic mean of Fox’s and Newco’s respective reasonable determinations. 

2.8 Prior Agreements. Except as set forth in this Agreement and in consideration of the mutual indemnities and other obligations of
this Agreement, any and all prior Tax sharing or allocation agreements or practices between any member of the Fox Group and any member of the Newco Group shall be terminated with respect to the Newco Group and the Fox Group as of the Distribution
Date. No member of either the Newco Group or the Fox Group shall have any continuing rights or obligations under any such agreement. 

ARTICLE III 
 PREPARATION AND
FILING OF TAX RETURNS 
 3.1 Fox’s Responsibility. Fox shall prepare and file when due (taking into account
any applicable extensions), or shall cause to be prepared and filed, any Fox Federal Consolidated Income Tax Returns and any other Tax Returns required or permitted to be filed by Fox or a member of the Fox Group for any Pre-Distribution Period or Straddle Period. Fox shall be the “Preparing Party” with respect to Tax Returns described in this Section 3.1. 

3.2 Newco’s Responsibility. Newco shall prepare and file when due (taking into account any applicable
extensions), or shall cause to be prepared and filed, all Tax Returns for any Pre-Distribution Period or Straddle Period required to be filed by or with respect to members of the Newco Group other than those
Tax Returns which Fox is required to prepare and file under Section 3.1; provided, that the Tax Returns required to be prepared and filed by Newco under this Section 3.2 shall include any
Newco Separate Returns for any Straddle Period that are due after the date hereof (taking into account any valid extensions). Newco shall be the “Preparing Party” with respect to Tax Returns described in this
Section 3.2. 
 3.3 Right To Review Tax Returns. To the extent that the positions taken on any Tax Return
would reasonably be expected to materially adversely affect the Tax position of the Party other than the Preparing Party (the “Reviewing Party”), or for which the Reviewing Party has an indemnification obligation pursuant to
Section 5.1, the Preparing Party shall prepare the portions of such Tax Return that relate to the business of the Reviewing Party (the Fox Retained Business or the A&S Business, as the case may be) or the Reviewing
Party’s indemnification obligation in a manner that is consistent with past practices, accounting methods, elections and conventions (“Past Practices”) unless a contrary position would not have a material adverse impact on the
Tax position (or liability under this Agreement) of the Reviewing Party or unless otherwise required by applicable Law. In the case of a Tax Return that is not required to be filed more frequently than quarterly, the Preparing Party shall provide a
draft of such Tax Return (or to the 

  
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extent practicable the portion of such Tax Return that relates to Taxes for which the Reviewing Party has an indemnification obligation pursuant to this Agreement), along with a statement setting
forth the calculation of the Tax shown as due and payable on such Tax Return for which the Reviewing Party has an indemnification obligation, to the Reviewing Party for its review and comment at least thirty (30) days prior to the Due Date for
such Tax Return and shall modify such portion of such Tax Return before filing to include the Reviewing Party’s reasonable comments, provided, that nothing herein shall prevent the Preparing Party from timely filing any such Tax Return
and nothing herein shall require the Preparing Party to accept any comments to the extent such comments would render the Preparing Party, exercising reasonable discretion in good faith, unable to sign such Tax Return. In the event that Past Practice
is not applicable to a particular item or matter, the Preparing Party shall determine the reporting of such item or matter in good faith. The Parties shall negotiate in good faith to resolve all disputed issues with respect to such Tax Returns. Any
disputes that the Parties are unable to resolve shall be resolved by the Accounting Firm pursuant to Section 9.1. In the event that any dispute is not resolved (whether pursuant to good faith negotiations among the Parties
or by the Accounting Firm) prior to the Due Date for the filing of any such Tax Return, then such Tax Return shall be timely filed by the Preparing Party and the Parties agree to amend such Tax Return, as applicable, as necessary to reflect the
resolution of such dispute in a manner consistent with such resolution. In the case of a Tax Return that is required to be filed quarterly or more frequently, the Preparing Party shall provide a draft of such Tax Return (or to the extent practicable
the portion of such Tax Return that relates to Taxes for which the Reviewing Party has an indemnification obligation pursuant to this Agreement), along with a statement setting forth the calculation of the Tax shown as due and payable on such Tax
Return for which the Reviewing Party has an indemnification obligation, to the Reviewing Party for its review such that the Reviewing Party has a reasonable opportunity to provide comments to such Tax Return, and the Parties have the opportunity to
discuss such comments and agree to revisions to such Tax Return (if any), prior to the Due Date for such Tax Return. 
 3.4
Cooperation. The Parties shall provide, and shall cause their Affiliates to provide, assistance and cooperation to one another in accordance with Article VII with respect to the preparation and filing of Tax Returns, including providing
information required to be provided in Article VIII. 
 3.5 Reporting of the Transactions 

(a) The Tax treatment of any step in or portion of the Transactions shall be reported on each applicable Tax Return and in connection with any
applicable Tax Contest consistently with (i) the Tax-Free Status of the Transactions and (ii) the treatment of payments between the Fox Group and the Newco Group as set forth in
Section 5.4, in each case to the extent relevant and unless there is not a Reasonable Basis for such treatment or there has been a Final Determination to the contrary. In the event that a Preparing Party shall determine
that there is no Reasonable Basis for such Tax treatment, such Party shall notify the other Party no later than twenty (20) Business Days prior to filing the relevant Tax Return and the Parties shall attempt in good faith to agree on the manner
in which the relevant portion of the Transactions shall be reported; provided, however, that nothing herein shall prevent the Preparing Party from timely filing any such Tax Return and nothing herein shall require the Preparing Party
to accept any comments to the extent such comments would render the Preparing Party, exercising reasonable discretion in good faith, unable to sign such Tax Return. 

  
 -12- 

 (b) After the date hereof, the Parties shall negotiate and cooperate in good faith to determine
whether a protective election under Section 336(e) of the Code and the Treasury Regulations issued thereunder for Newco and each member of the Newco Group (or any member of the Fox Group that participates in any Internal Distribution) with
respect to the Distribution (a “Section 336(e) Election”) shall be beneficial. Such cooperation shall include the provision by Fox of any information reasonably necessary to make such determination. If the Parties
determine that a Section 336(e) Election would be beneficial: 
 (i) Fox, Ainge and Newco shall cooperate in making the
Section 336(e) Election, including by filing any statements, amending any Tax Returns or taking such other action reasonably necessary to carry out the Section 336(e) Election; and 

(ii) if one or more of the Transactions fails to qualify (in whole or in part) for the
Tax-Free Status of the Transactions and Newco or any member of the Newco Group (or any member of the Fox Group that participates in an Internal Distribution) realizes an increase in Tax basis (the
“Section 336(e) Tax Basis”), then the cash Tax savings realized by Newco and each member of the Newco Group (or any member of the Fox Group that participates in an Internal Distribution) as a result of the
Section 336(e) Tax Basis shall be shared between Fox and Newco in the same proportion as the Taxes imposed on the Transactions giving rise to the Section 336(e) Tax Basis were borne by Fox and Newco (after giving effect to the
indemnification obligations in this Agreement). 
 3.6 Straddle Period Tax Allocation . Fox and Newco shall take all commercially
reasonable actions necessary or appropriate to close the taxable year of Newco and each member of the Newco Group for all Tax purposes as of the close of the Distribution Date to the extent permitted by applicable Law. If applicable Law does not
permit Newco or a member of the Newco Group, as the case may be, to close its taxable year on the Distribution Date, then the allocation of income or deductions required to determine any Taxes or other amounts attributable to the portion of the
Straddle Period ending on, or beginning after, the Distribution Date shall be made by means of a closing of the books and records of Newco or such member of the Newco Group as of the close of the Distribution Date, except that in the case of any
such Taxes attributable to an equity interest in any partnership or other “flowthrough” entity or controlled foreign corporation, as if the taxable period of such partnership or other “flowthrough” entity or controlled foreign
corporation ended as of the close of business on the Distribution Date; provided, that exemptions, allowances or deductions that are calculated on an annual or periodic basis shall be allocated between such portions in proportion to the
number of days in each such portion. For the avoidance of doubt, nothing in this Section 3.6 shall require Fox or Newco to cause a change in taxable year of any member of the Newco Group. 

3.7 Amended Returns and Carrybacks. 

(a) Except as expressly provided in Section 3.3 to reflect the resolution of any dispute, (i) Newco shall not,
and shall not permit any member of the Newco Group to, file or 

  
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allow to be filed any request for an Adjustment for any Pre-Distribution Period or Straddle Period without the prior written consent of Fox, such consent
not to be unreasonably withheld, delayed or conditioned, and (ii) Fox shall not, and shall not permit any member of the Fox Group to, file or allow to be filed any request for an Adjustment for any
Pre-Distribution Period or Straddle Period if the result would be to increase any liability of Newco or any member of the Newco Group either (A) under this Agreement or (B) for a Post-Distribution
Period, in each case without the prior written consent of Newco, such consent not to be unreasonably withheld, delayed or conditioned. 

(b) The carryback of any loss, credit or other Tax Attribute from any Post-Distribution Period shall be in accordance with the provisions of
the Code and Treasury Regulations (and applicable state, local or foreign Laws). Except to the extent otherwise consented to by Fox or prohibited by applicable Law, Newco shall, and shall cause each member of the Newco Group to, make any available
elections to waive the right to carry back any Tax Attribute from a taxable period or portion thereof ending after the Distribution Date to a taxable period or portion thereof ending on or before the Distribution Date. In the event that Newco (or
the appropriate member of the Newco Group) is prohibited by applicable Law to relinquish, waive or otherwise forgo such a carryback (or Fox consents to such a carryback), Fox will cooperate with Newco at Newco’s expense in seeking (and, to the
extent necessary, attempting to obtain the consent of Danaher under Section 3.8 of the Danaher TMA) from the appropriate Taxing Authority such Refund as reasonably would result from such carryback, to the extent that such
Refund is directly attributable to such carryback and allocable to Newco pursuant to Section 2.6, and shall pay over to Newco the amount of such Refund (net of any Taxes imposed by any Taxing Authority on, related to, or
attributable to, the receipt of or accrual of such Refund, including any Taxes imposed by way of withholding or offset) within ten (10) days after such Refund is received. 

(c) Newco shall not, and shall cause each member of the Newco Group not to, without the prior written consent of Fox, make any affirmative
election to carry back any Tax Attribute from a taxable period or portion thereof ending after the Distribution Date to a taxable period or portion thereof ending on or before the Distribution Date, such consent not to be unreasonably withheld,
delayed or conditioned. 
 (d) Receipt of consent by Newco or a member of the Newco Group from Fox pursuant to the provisions of this
Section 3.7 shall not limit or modify Newco’s continuing indemnification obligation pursuant to Article V. 

3.8 Tax Attributes. 
 (a)
Fox shall reasonably and in good faith advise Newco in writing of the amount, if any, of any Tax Attributes arising in a Pre-Distribution Period that shall be allocated or apportioned to the Newco Group under
applicable Law; provided, that with respect to the determination of Tax basis of assets transferred to Newco, Fox shall make such determination reasonably and in good faith and consistent with the books and records of Fox and its
Subsidiaries. Fox, all members of the Fox Group, Newco and all members of the Newco Group shall prepare all Tax Returns in accordance with such written notice unless there is not a Reasonable Basis for such determination or otherwise required by a
Final Determination. For 

  
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the avoidance of doubt, Fox shall not be required to create or cause to be created any books and records or reports or other documents based thereon that are of the type customarily prepared by
outside legal, financial or accounting advisors (including, without limitation, “earnings & profits studies,” “basis studies” or similar determinations) in order to comply with this Section 3.8.

 (b) To the extent that the amount of any Tax Attribute is later reduced or increased by a Taxing Authority or Tax Contest, such reduction
or increase shall be allocated to the Party to which such Tax Attribute was allocated pursuant to Section 3.8(a). 

3.9 Expenses . Except as provided in Section 9.1, each Party shall bear its own expenses incurred in
connection with this Article III. 
 ARTICLE IV 

TAX-FREE STATUS OF THE DISTRIBUTION 

4.1 Representations and Warranties. 

(a) Fox, on behalf of itself and all other members of the Fox Group, hereby represents and warrants or covenants and agrees, as appropriate,
that (i) it has delivered complete and accurate copies of the Ruling, the Fox Tax Opinion, each submission to the IRS in connection with the Ruling, including the Ruling Request, any Tax Certificates addressed to Skadden, Arps, Slate,
Meagher & Flom LLP or any other Law or accounting firm supporting the Fox Tax Opinion, and any other materials delivered or deliverable by Fox or Newco in connection with the rendering by Skadden, Arps, Slate, Meagher & Flom LLP or
any other Law or accounting firm of the Fox Tax Opinion and the issuance by the IRS of the Ruling (together, the “Tax Materials”) to Newco and Ainge, (ii) the facts presented and representations made therein, to the extent
descriptive of or that relate to the actions or non-actions of (A) the Fox Group at any time or (B) the Newco Group at any time at or prior to the Effective Time are, at the Effective Time, true,
correct and complete in all respects and (iii) Fox, as of the date hereof, does not know and has no reason to believe, that any Newco Common Stock to be exchanged for Ainge Common Stock may not be Qualified Newco Common Stock. Fox, on behalf of
itself and all other members of the Fox Group, hereby confirms and agrees to comply with any and all covenants and agreements in the Tax Materials applicable to Fox or any member of the Fox Group or the Fox Retained Business. 

(b) Newco, on behalf of itself and all other members of the Newco Group, hereby represents and warrants or covenants and agrees, as
appropriate, that the facts presented and the representations made in the Tax Materials with the consent of Ainge to the extent they both (A) are descriptive of the Newco Group and (B) relate to the actions or non-actions of the Newco Group to be taken (or not taken, as the case may be) after the Effective Time, are, at the Effective Time, true, correct and complete in all respects Ainge hereby represents and warrants or
covenants and agrees, as appropriate, that the facts presented and the representations made in the Tax Materials, with the consent of Ainge, to the extent descriptive of Ainge and its Subsidiaries at any time, are, at the Effective Time, true,
correct and complete in all respects. 

  
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 (c) Each of Fox, on behalf of itself and all other members of the Fox Group, and Newco, on
behalf of itself and all other members of the Newco Group, represents and warrants that it knows of no fact (after due inquiry) that may cause the Tax treatment of the Transactions to be other than the
Tax-Free Status of the Transactions. 
 (d) Each of Fox, on behalf of itself and all other members
of the Fox Group, and Newco, on behalf of itself and all other members of the Newco Group, represents and warrants that it has no plan or intent to take any action that is inconsistent with any statements or representations made in the Tax
Materials. 
 (e) Each of Ainge and Newco hereby represents and warrants that, as of the date hereof, it has no plan or intention to,
directly or indirectly, pre-pay, pay down, redeem, retire or otherwise acquire, however effected including pursuant to the terms thereof, any of the Newco Securities or permit any member of the Newco Group to
take any such action. 
 (f) Fox, on behalf of itself and all other members of the Fox Group, hereby represents and warrants that each of
the Direct Sales Entities is disregarded as an entity separate from its owner for U.S. federal income tax purposes, other than as provided on Schedule 4.1(f). The terms of Schedule 4.1(f) are hereby incorporated into this Agreement by
reference. 
 4.2 Restrictions Relating to the Distribution. 

(a) Fox, on behalf of itself and all other members of the Fox Group, hereby covenants and agrees that no member of the Fox Group will take,
fail to take, or permit to be taken any action that would be a Fox Disqualifying Action. “Fox Disqualifying Action” shall mean (a) any breach by Fox or any member of the Fox Group or, at or prior to the Effective Time, by Newco
or any member of the Newco Group, of any representation, warranty or covenant made by them in this Agreement or (b) any action that (i) is within the control of Fox or any member of the Fox Group or, at or prior to the Effective Time,
Newco or any member of the Newco Group and (ii) could reasonably be expected to adversely affect the Tax-Free Status of the External Transactions, other than, in the case of clause (b), any action in the
ordinary course of business, in each case of clauses (a)–(b), that causes the Tax-Free Status of the External Transactions to be lost (in whole or in part); provided, however, that the term
“Fox Disqualifying Action” shall not include any action expressly required by the Distribution Agreement, the Merger Agreement or any other Transaction Document or that is undertaken pursuant to the Internal Restructuring or the
Distribution. 
 (b) Newco, on behalf of itself and all other members of the Newco Group, hereby covenants and agrees that no member of the
Newco Group will take, fail to take, or permit to be taken any action that would be a Newco Disqualifying Action. “Newco Disqualifying Action” shall mean: (a) any breach by Newco or any member of the Newco Group after the
Effective Time of any representation, warranty or covenant made by them in this Agreement (for the avoidance of doubt, other than in Section 4.1(b)) or (b) any action after the Effective Time that (i) is within
the control of Newco or any member of the Newco Group and (ii) could reasonably be expected to adversely affect the Tax-Free Status of the External Transactions, other than, in the case of clause (b), any
action in the ordinary course of business, in each case of clauses (a)–(b), that causes the Tax-Free Status of the External Transactions to be 

  
 -16- 

 
lost (in whole or in part); provided, that (x) the term “Newco Disqualifying Action” shall not include any action expressly required by the Distribution Agreement, the
Merger Agreement or any other Transaction Document or that is undertaken pursuant to the Internal Restructuring or the Distribution; and (y) in the event that Fox shall have waived the condition set forth in
Section 7.7 of the Merger Agreement, the term “Newco Disqualifying Action” shall not include any action taken by Newco or any member of the Newco Group that causes the
Tax-Free Status of the External Transactions to be lost on or after the date of such waiver by Fox unless, prior to consummating the Distribution, Fox shall have received a “will” opinion, without
substantive qualifications, of a nationally recognized Law or accounting firm, in form and substance reasonably satisfactory to Ainge, confirming the Tax-Free Status of the External Transactions. Subject to
the proviso in the immediately preceding sentence, any breach of the covenants contained in Section 4.2(c) and Section 4.2(d) shall constitute a Newco Disqualifying Action (notwithstanding any
delivery of an Unqualified Tax Opinion or Fox’s waiver of Newco’s obligation to deliver an Unqualified Tax Opinion). 
 (c) Newco
shall comply with the terms of the Newco Securities in all material respects, including that Newco will not attempt to exercise any call feature of the Newco Securities prior to the five-year anniversary of the issue date of the Newco Securities or
permit any member of the Newco Group to take any such action; provided, that Newco shall be permitted to refinance the Newco Securities if doing so does not result a change in issuer or in the refinanced Newco Securities having an earlier
maturity date. 
 (d) During the Restricted Period, Newco: 

(i) shall continue and cause to be continued the active conduct of the A&S Business for purposes of Section 355(b)(2)
of the Code, taking into account Section 355(b)(3) of the Code, 
 (ii) shall not voluntarily dissolve or liquidate
itself or any member of the Newco Group (including any action that is a liquidation for U.S. federal income tax purposes), except for (A) any dissolution or liquidation of the Direct Sales Entities and any such dissolution or liquidation of a
wholly owned subsidiary (other than Newco or an Internal Restricted Entity) into its parent entity where both the subsidiary and the parent entity are members of the Newco Group or (B) in any transaction that constitutes a reorganization of
such member under Section 368(a)(1)(F) of the Code, 
 (iii) shall not (1) enter into any Proposed Acquisition
Transaction or, to the extent Newco has the right to prohibit any Proposed Acquisition Transaction, permit any Proposed Acquisition Transaction to occur, (2) redeem or otherwise repurchase (directly or through an Affiliate) any stock, or rights
to acquire stock, other than repurchases satisfying the requirements of Section 4.05(1)(b) of Revenue Procedure 96-30, 1996-1 C.B. 696 (as in effect prior to the
release of Revenue Procedure 2003-48, 2003-2 C.B. 86), (3) amend its certificate of incorporation (or other organizational documents), or take any other action, whether
through a stockholder vote or otherwise, affecting the relative voting rights of its capital stock (including through the conversion of any capital stock into another class of capital stock), (4) merge or consolidate with any other Person
(other than pursuant to the Merger) or (5) take any other action or actions 

  
 -17- 

 
(including any action or transaction that would be reasonably likely to be inconsistent with any representation made in the Tax Certificates) that in the aggregate (and taking into account the
Merger and any other transactions described in this Section 4.2(d)(iii)) would, when combined with any other direct or indirect changes in ownership of Newco capital stock pertinent for purposes of Section 355(e) of
the Code (including the Merger), have the effect of causing or permitting one or more Persons (whether or not acting in concert) to acquire directly or indirectly stock representing a 50% or greater interest in Newco or would reasonably be expected
to result in a failure to preserve the Tax-Free Status of the External Transactions, 

(iv) shall not and shall not permit any member of the Newco Group to take any of the actions specified in
Exhibit B hereto,2 and 
 (v) shall not and
shall not permit any member of the Newco Group other than the Direct Sales Entities, to sell, transfer, or otherwise dispose of or agree to, sell, transfer or otherwise dispose (including in any transaction treated for U.S. federal income tax
purposes as a sale, transfer or disposition) of assets (including, any shares of capital stock of a Subsidiary) that, in the aggregate, constitute 40% or more of the consolidated gross assets of Newco or the Newco Group. The foregoing sentence shall
not apply to (1) sales, transfers or dispositions of assets in the ordinary course of business, (2) any cash paid to acquire assets from an unrelated Person in an arm’s-length transaction,
(3) any assets transferred to a Person that is disregarded as an entity separate from the transferor for U.S. federal income tax purposes or (4) any mandatory or optional repayment (or pre-payment)
of any indebtedness of Newco or any member of the Newco Group. The percentages of gross assets or consolidated gross assets of Newco or the Newco Group, as the case may be, sold, transferred, or otherwise disposed of, shall be based on the fair
market value of the gross assets of Newco and the members of the Newco Group as of the Distribution Date (excluding, for purposes of this computation, any assets held by the Direct Sales Entities). For purposes of this
Section 4.2(d)(v), a merger of Newco or one of its Subsidiaries with and into any Person that is not a wholly owned Subsidiary of Newco shall constitute a disposition of all of the assets of Newco or such Subsidiary. 

(e) Notwithstanding the restrictions imposed by Section 4.2(d), Newco or a member of the Newco Group may take any of
the actions or transactions described therein if (i) Newco shall first have requested Fox to obtain a supplemental ruling in accordance with Section 4.3(a) to the effect that such action or transaction will not affect
the Tax-Free Status of the Transactions and Fox shall have received such a supplemental ruling in form and substance satisfactory to Fox, (ii) Newco shall have provided to Fox an Unqualified Tax Opinion
in form and substance reasonably satisfactory to Fox (and on which Fox may rely) or (iii) Fox shall have waived in writing the requirement to obtain such ruling or opinion. In determining whether a ruling or opinion is satisfactory, Fox may
consider, among other factors, the appropriateness of any underlying assumptions or representations used as a basis for the ruling or opinion and the 
  

 

	2 	 Note to Draft: Parties will cooperate in good faith to modify Exhibit B between
signing and closing to reflect any changes to the Separation Plan, provided that any such modifications will be made only with the consent of both Fox and Ainge. 

  
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views on the substantive merits. None of the receipt by Fox of a supplemental ruling, delivery of an Unqualified Tax Opinion and Fox’s waiver of Newco’s obligation to deliver an
Unqualified Tax Opinion shall limit or modify Newco’s continuing indemnification obligation pursuant to Article V. 

(f) For the avoidance of the doubt, notwithstanding the restrictions set forth in this Section 4.2, Newco and Ainge
shall be permitted to (i) take any action expressly required by the Transaction Documents, and (ii) adopt or modify a shareholder rights plan (and issue stock in accordance therewith) that is described in or is similar to the shareholder
rights plan described in Revenue Ruling 90-11, 1990-1 C.B. 10. 

4.3 Procedures Regarding Opinions and Rulings. 

(a) If Newco notifies Fox that it desires to take one of the actions described in Section 4.2 (a “Notified
Action”), Fox shall cooperate with Newco and use its reasonable best efforts to seek to obtain a supplemental ruling from the IRS or permit Newco to obtain an Unqualified Tax Opinion (on which Fox may rely) for the purpose of permitting
Newco to take the Notified Action unless Fox shall have waived the requirement to obtain such ruling or opinion. If such a ruling is to be sought, Fox shall apply for such ruling and Fox and Newco shall jointly control the process of obtaining such
ruling. In no event shall Fox be required to file any ruling request under this Section 4.3(a) unless Newco represents that (i) it has read such ruling request and (ii) all information and representations, if any,
relating to any member of the Newco Group, contained in such ruling request documents are (subject to any qualifications therein) true, correct and complete. Newco shall reimburse Fox for all reasonable costs and expenses incurred by the Fox Group
in obtaining a ruling or Unqualified Tax Opinion requested by Newco within ten (10) days after receiving an invoice from Fox therefor. 

(b) Except as provided in Section 4.3(a), following the Effective Time, neither Newco nor any Affiliate of Newco
shall seek any guidance from the IRS or any other Taxing Authority (whether written, verbal or otherwise) at any time concerning the Newco Contribution, the Distribution or the other Transactions (including the impact of any transaction on the Newco
Contribution, the Distribution or the other Transactions) without the prior approval of Fox (such approval not to be unreasonably withheld, conditioned or delayed). 

ARTICLE V 
 INDEMNITY OBLIGATIONS

 5.1 Indemnity Obligations. 

(a) Fox shall indemnify and hold harmless Newco from and against, and will reimburse Newco for (without duplication): 

(i) all Fox Taxes, 

(ii) all Taxes (other than Transaction Taxes) incurred by Newco or any member of the Newco Group by reason of the incorrectness
or breach by Fox or any member of the Fox Group or, at or prior to the Effective Time, the incorrectness or breach by Newco or any member of the Newco Group of any of its representations, warranties or covenants hereunder, and 

  
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 (iii) any costs and expenses related to the foregoing (including reasonable
attorneys’ fees and expenses). 
 (b) Newco shall indemnify and hold harmless Fox from and against, and will reimburse Fox for (without
duplication): 
 (i) all Newco Taxes, 

(ii) all Taxes (other than Transaction Taxes) incurred by Fox or any member of the Fox Group by reason of the incorrectness or
breach after the Effective Time by Newco or any member of the Newco Group of any of its representations, warranties or covenants hereunder (for the avoidance of doubt, other than in Section 4.1(b)), and 

(iii) any costs and expenses related to the foregoing (including reasonable attorneys’ fees and expenses). 

(c) For purposes of this Section 5.1: 

(i) “Fox Taxes” shall mean, without duplication, the following Taxes (whether such Taxes are shown as due on a
Tax Return as initially filed or result from an Adjustment): 
 (1) all liability for Taxes allocated to Fox pursuant to
Article II (which for the avoidance of doubt shall include any Fox Consolidated Taxes and any Taxes imposed under Section 965 of the Code on or with respect to any earnings of any member of the Fox Group or the Newco
Group or by reason of any ownership of any equity interest in any member of the Fox Group or the Newco Group (whether or not the election described in Section 965(h) of the Code is made)); provided, that for any Taxes imposed under
Section 965 of the Code on Ainge or its Subsidiaries by reason of ownership of an equity interest in a member of the Newco Group, the amount of such Taxes that are Fox Taxes shall be determined by applying the “aggregate foreign cash
position” (as defined in Section 965(c)(3)(A) of the Code) that would have applied to determine the amount of Tax imposed under Section 965 of the Code had Fox owned such member at the end of its taxable year, 

(2) any Taxes imposed on Newco or any member of the Newco Group under Treasury Regulations
Section 1.1502-6 (or any similar provision of other Law) as a result of Newco or any such member being or having been included as part of a Fox Federal Consolidated Income Tax Return or the Danaher United
States federal consolidated income Tax Return (or similar consolidated or combined Tax Return under any other provision of Law), 

  
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 (3) any Taxes not described in clause (1) or (2) (including any Taxes
resulting from an Adjustment) of Fox or any Subsidiary or former Subsidiary of Fox (including any member of the Newco Group) for any Pre-Distribution Period and, with respect to a Straddle Period, the portion
of such period ending at the end of the day on the Distribution Date (determined in accordance with Section 3.6), 

(4) any Transaction Taxes, including any Transaction Taxes caused by a Fox Disqualifying Action, 

(5) 100% of any Transfer Taxes, and 

(ii) “Newco Taxes” shall mean, without duplication, the following Taxes (whether such Taxes are shown as due
on a Tax Return as initially filed or result from an Adjustment): 
 (1) all liability for Taxes allocated to Newco pursuant
to Article II, and 
 (2) any Transaction Taxes caused by a Newco Disqualifying Action. 

provided, that to the extent a Tax would, but for this proviso, be a Fox Tax and a Newco Tax, such Tax shall be a Newco Tax only to the
extent caused by a Newco Disqualifying Action and not caused by a Fox Disqualifying Action, and such Tax shall not be a Fox Tax to such extent. 

5.2 Indemnification Payments. Except as otherwise provided in this Agreement, if either Party (the “Indemnitee”) is
required to pay to a Taxing Authority a Tax or to another Person a payment in respect of a Tax that the other Party (the “Indemnifying Party”) is liable for under this Agreement, including as the result of a Final Determination, the
Indemnitee shall notify the Indemnifying Party, in writing, of its obligation to pay such Tax and, in reasonably sufficient detail, its calculation of the amount due by such Indemnifying Party to the Indemnitee. The Indemnifying Party shall pay such
amount to the Indemnitee no later than the later of (i) five (5) Business Days prior to the date on which such payment is due to the applicable Taxing Authority or (ii) fifteen (15) Business Days after the receipt of notice from the other
Party. 
 5.3 Payment Mechanics. (a) Subject to Section 10.7, all payments under this Agreement shall be
made by Fox directly to Newco and by Newco directly to Fox; provided, however, that the Party receiving any payment under this Agreement may designate a member of its Group to receive such payment on its behalf, and the Party making
any payment under this Agreement may designate a member of its Group to make such payment on its behalf. All indemnification payments shall be treated in the manner described in Section 5.4. 

(b) In the case of any payment of Taxes made by a Responsible Party or Indemnitee pursuant to this Agreement for which such Responsible Party
or Indemnitee, as the case may be, has received a payment from the other Party, such Responsible Party or Indemnitee shall provide to the other Party a copy of any official government receipt received with respect to the payment of such Taxes to the
applicable Taxing Authority (or, if no such official governmental receipts are available, executed bank payment forms or other reasonable evidence of payment). 

  
 -21- 

 5.4 Treatment of Payments. The Parties agree that any payment made among the Parties
pursuant to this Agreement shall be treated, to the extent permitted by Law, for all Tax purposes as either (a) a contribution by Fox to Newco or (b) a distribution by Newco to Fox, in each case, made immediately prior to the Distribution,
and therefore as an adjustment to the Cash Dividend (in the case of a payment from Fox to Newco, to the extent of the Cash Dividend), unless the Parties mutually agree to instead treat any such payment (or portion thereof) as an adjustment to the
portion of the Direct Sales Purchase Price attributable to one or more Direct Sales (as such terms are defined in the Distribution Agreement). 

ARTICLE VI 
 TAX CONTESTS 

6.1 Notice. Each Party shall notify the other Party in writing within ten (10) days after receipt by such Party or any
member of its Group of a written communication from any Taxing Authority with respect to any pending or threatened audit, claim, proposed assessment or dispute (a “Tax Contest”) concerning any Taxes for which the other Party may be
liable pursuant to this Agreement, and thereafter shall promptly forward or make available to such Party copies of notices and communications relating to such Tax Contest. 

6.2 Separate Returns. Except as provided in Section 6.5, in the case of any Tax Contest with respect to any
Separate Return, the Party having the liability for the Tax pursuant to Article V shall have the responsibility and right to control the prosecution of such Tax Contest, including the right to communicate with agents of the
applicable Taxing Authority and to control, resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of such Tax Contest; provided, that such Party shall (a) keep
the other Party informed in a timely manner of all actions proposed to be taken by such Party and (b) not settle any such Tax Contest without the prior written consent of the other Party, which shall not be unreasonably withheld, conditioned or
delayed, to the extent such settlement relates to a material indemnification obligation of the other Party under Article V for the relevant taxable period (or portion thereof). 

6.3 Joint Return. Except as provided in Section 6.5, in the case of any Tax Contest with respect to any Joint
Return (which for the avoidance of doubt shall include any Fox Federal Consolidated Income Tax Return), the Preparing Party (which for the avoidance of doubt shall be Fox for any Fox Federal Consolidated Income Tax Return) shall have the
responsibility and right to control the prosecution of such Tax Contest, including the right to communicate with agents of the applicable Taxing Authority and to control, resolve, settle or agree to any deficiency, claim or adjustment proposed,
asserted or assessed in connection with or as a result of such Tax Contest; provided, that to the extent that such Tax Contest relates to Taxes for which the other Party has an indemnification obligation pursuant to
Article V, the Preparing Party shall (a) defend such Tax Contest diligently and in good faith, (b) keep the other Party informed in a timely manner of all actions proposed to be taken by the Preparing Party with
respect to such Tax Contest (or to the extent practicable the portion of such Tax Contest that relates to Taxes for 

  
 -22- 

 
which the other Party is responsible pursuant to Article V) and (c) not settle any such Tax Contest without the prior written consent of the other Party, which
shall not be unreasonably withheld, conditioned or delayed, to the extent such settlement relates to a material indemnification obligation of the other Party under Article V for the relevant taxable period (or portion
thereof). 
 6.4 Obligation of Continued Notice . In addition to any other notice obligations set forth in this Article VI,
during the pendency of any Tax Contest or threatened Tax Contest, each of the Parties shall provide prompt notice to the other Party of any written communication received by it or a member of its respective Group from a Taxing Authority regarding
any Tax Contest for which it is indemnified by the other Party hereunder or for which it may be required to indemnify the other Party hereunder. Such notice shall attach copies of the pertinent portion of any written communication from a Taxing
Authority and contain factual information (to the extent known) describing any asserted Tax liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Taxing Authority in respect of any such
matters. Such notice shall be provided in a reasonably timely fashion; provided, that in the event that timely notice is not provided, a Party shall be relieved of its obligation to indemnify the other Party only to the extent that such delay
results in actual increased costs or actual prejudice to such other Party. 
 6.5 Tax Contests in Respect of Transaction Taxes. 

(a) Newco Tax Contests. Newco shall be exclusively entitled to contest, compromise and settle any Adjustment proposed, asserted or
assessed pursuant to any Tax Contest relating to any Transaction Taxes that Newco acknowledges in writing would be solely the liability of Newco; provided, that unless waived by the Parties in writing, or Newco provides assurance of payment
reasonably satisfactory to Fox, Newco shall (i) defend such Tax Contest diligently and in good faith, (ii) keep Fox informed in a timely manner of all actions proposed to be taken by Newco and (iii) provide copies of all
correspondence or filings to be submitted to any Taxing Authority or judicial authority to Fox. 
 (b) Fox Tax Contests. Fox shall be
exclusively entitled to contest, compromise and settle any Adjustment proposed, asserted or assessed pursuant to any Tax Contest relating to any Transaction Taxes that Fox acknowledges in writing would be solely the liability of Fox;
provided, that unless waived by the Parties in writing, or Fox provides assurance of payment reasonably satisfactory to Newco, Fox shall (i) defend such Tax Contest diligently and in good faith, (ii) keep Newco informed in a timely
manner of all actions taken or proposed to be taken by Fox and (iii) provide copies of all correspondence or filings to be submitted to any Taxing Authority or judicial authority to Newco. 

(c) Other Tax Contests. 

(i) In the case of any Tax Contest that is not described in Section 6.5(a), (b) or
(c)(ii) in which an Adjustment relating to Transaction Taxes is proposed, asserted or assessed, the statutorily liable Party shall initially be entitled to control such Tax Contest, acting reasonably and in good faith; provided, that:

 (1) If, during the course of such a Tax Contest, either Party 

  
 -23- 

 
becomes aware that the non-controlling Party could reasonably be expected to have a material indemnification obligation pursuant to
Article V (or otherwise could be liable for a material amount of Taxes allocated to it under Article V), such Tax Contest shall cease to be governed by this
Section 6.5(c)(i) and shall instead be governed by Section 6.5(c)(ii) unless the non-controlling Party waives in writing its right to joint control; and 

(2) The controlling Party shall: 

(A) keep the non-controlling Party informed in a timely manner of all actions proposed
to be taken by the controlling Party; 
 (B) provide the non-controlling Party with
copies of any written materials relating to such potential Adjustment in such Tax Contest received from any Taxing Authority or judicial authority; 

(C) consult with the non-controlling Party and timely provide the non-controlling Party with copies of any correspondence or filings to be submitted to any Taxing Authority or judicial authority in connection with such Tax Contest, such that the
non-controlling Party has a reasonable opportunity to review and comment on such correspondence or filing before it is submitted to any Taxing Authority or judicial authority, and consider in good faith any
reasonable comments made by the non-controlling Party; 
 (D) permit the non-controlling Party to participate in all proceedings with respect to such Tax Proceeding, including by permitting representatives of the non-controlling Party to attend any
in person or telephonic meetings relating to such Tax Proceeding with any Taxing Authority or judicial authority; 
 (E)
defend such Tax Contest diligently and in good faith as if it were the sole party in interest; and 
 (F) not agree to any
settlement without the consent of both Parties, such consent not to be unreasonably withheld, delayed or conditioned. The failure of the controlling Party to comply with the requirements of clauses (A) through (F) above shall not relieve
the non-controlling Party of any liability or obligation that it may have to the controlling Party under this Agreement except to the extent that the non-controlling Party was actually prejudiced by such failure. 

(ii) Fox and Newco shall jointly contest, compromise and settle any Adjustment proposed, asserted or assessed pursuant to any
Tax Contest relating to any Transaction Taxes if Newco could reasonably be expected to have a material indemnification obligation pursuant to Article V (or otherwise could be liable for a material amount of Taxes allocated
to it under Article V). 

  
 -24- 

 (iii) The Parties shall negotiate in good faith to resolve all disputed issues
relating to Tax Proceedings governed by this Section 6.5(c). 
 ARTICLE VII 

COOPERATION 
 7.1
General. 
 (a) Each Party shall fully cooperate, and shall cause all members of such Party’s Group to fully cooperate,
with all reasonable requests in writing from the other Party, or from an agent, representative or advisor to such Party, in connection with the preparation and filing of any Tax Return, claims for Refunds, the conduct of any Tax Contest, and
calculations of amounts required to be paid pursuant to this Agreement, in each case, related or attributable to or arising in connection with Taxes of either Party or any member of either Party’s Group covered by this Agreement and the
establishment of any reserve required in connection with any financial reporting (a “Tax Matter”). Such cooperation shall include the provision of any information reasonably necessary or helpful in connection with a Tax Matter and
shall include, without limitation, at each Party’s own cost: 
 (i) the provision of any Tax Returns of either Party or
any member of either Party’s Group, books, records (including information regarding ownership and Tax basis of property), documentation and other information relating to such Tax Returns, including accompanying schedules, related work papers,
and documents relating to rulings or other determinations by Taxing Authorities; 
 (ii) the execution of any document
(including any power of attorney) in connection with any Tax Contest of either Party or any member of either Party’s Group, or the filing of a Tax Return or a Refund claim of either Party or any member of either Party’s Group; 

(iii) the use of the Party’s reasonable best efforts to obtain any documentation in connection with a Tax Matter; and 

(iv) the use of the Party’s reasonable best efforts to obtain any Tax Returns (including accompanying schedules, related
work papers, and documents), documents, books, records or other information in connection with the filing of any Tax Returns of any of either Party or any member of either Party’s Group. 

Each Party shall make its employees and facilities available, without charge, on a mutually convenient basis to facilitate such cooperation.

 7.2 Fox Tax Opinion. On the Distribution Date, Fox shall deliver to Newco a copy of the Fox Tax Opinion. If the Fox Tax Opinion
does not include a technical analysis in support of the conclusions therein, then within five (5) Business Days after the Distribution Date, Fox shall also deliver to Newco a copy of the technical tax memorandum relating to the Fox Tax Opinion
and prepared by the nationally recognized law firm or accounting firm that prepared the Fox Tax Opinion. 

  
 -25- 

 ARTICLE VIII 

RETENTION OF RECORDS; ACCESS 

8.1 Retention of Records. For so long as the contents thereof may become material in the administration of any matter under applicable
Tax Law, but in any event until the later of (i) sixty (60) days after the expiration of any applicable statutes of limitation (including any waivers or extensions thereof) and (ii) seven years after the Distribution Date, the Parties
shall retain records, documents, accounting data and other information (including computer data) necessary for the preparation and filing of all Tax Returns (collectively, “Tax Records”) in respect of Taxes of any member of either
the Fox Group or the Newco Group for any Pre-Distribution Period, Straddle Period, or Post-Distribution Period or for any Tax Contests relating to such Tax Returns. At any time after the Distribution Date that
the Fox Group proposes to destroy such records or documents (and subject to any rights of Danaher to receive such records or documents pursuant to Section 8.1 of the Danaher TMA), the Fox Group shall first notify the Newco Group in writing and
the Newco Group shall be entitled to receive such records or documents proposed to be destroyed. At any time after the Distribution Date that the Newco Group proposes to destroy such records or documents, it shall first notify the Fox Group in
writing and the Fox Group shall be entitled to receive such records or documents proposed to be destroyed. The Parties will notify each other in writing of any waivers or extensions of the applicable statute of limitations that may affect the period
for which the foregoing records or other documents must be retained. 
 8.2 Access to Tax Records. The Parties and their respective
Affiliates shall reasonably make available to each other for inspection and copying during normal business hours upon reasonable notice all Tax Records relating to the Fox Group or the Newco Group (and, for the avoidance of doubt, any pertinent
underlying data accessed or stored on any computer program or information technology system) in their possession and shall permit the other Party and its Affiliates, authorized agents and representatives and any representative of a Taxing Authority
or other Tax auditor direct access, during normal business hours upon reasonable notice to any computer program or information technology system used to access or store any Tax Records, in each case to the extent reasonably required by the other
Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation, or the resolution of items pursuant to this Agreement. The Party seeking access to the records of the other Party shall bear all costs
and expenses associated with such access, including any professional fees. 
 ARTICLE IX 

DISPUTE RESOLUTION 
 9.1
General. In the event of any dispute between the Parties as to any matter covered by this Agreement, the Parties shall appoint a nationally recognized independent public accounting firm (the “Accounting Firm”) to resolve such
dispute. In this regard, the Accounting Firm shall make determinations with respect to the disputed items based solely on representations made by Fox and Newco and their respective representatives, and not by independent review, and shall function
only as an expert and not as an arbitrator and shall be 

  
 -26- 

 
required to make a determination in favor of one Party only. The Parties shall require the Accounting Firm to resolve all disputes no later than thirty (30) days after the submission of such
dispute to the Accounting Firm, but in no event later than the Due Date for the payment of Taxes or the filing of the applicable Tax Return, if applicable, and agree that all decisions by the Accounting Firm with respect thereto shall be final and
conclusive and binding on the Parties. The Accounting Firm shall resolve all disputes in a manner consistent with this Agreement and, to the extent not inconsistent with this Agreement, in a manner consistent with the Past Practices of Fox and its
Subsidiaries, except as otherwise required by applicable Law. The Parties shall require the Accounting Firm to render all determinations in writing and to set forth, in reasonable detail, the basis for such determination. The fees and expenses of
the Accounting Firm shall be borne equally by the Parties. 
 ARTICLE X 

MISCELLANEOUS PROVISIONS 
 10.1
Coordination with Danaher TMA. (a) Any inability by Fox to provide any of the Tax Records, information regarding Tax Attributes or other information specifically listed in Exhibit C hereto under the heading
“Inaccessible Tax Information” shall not result in a breach of any representation, covenant or obligation contained in this Agreement to the extent Fox does not have such information in its possession and is not and has not been permitted
access to such information under the Danaher TMA. 
 (b) Fox shall use reasonable best efforts to obtain any information listed in
Exhibit C hereto that it would, but for Section 10.1(a), be required to provide under this Agreement, including by requesting access to such information from Danaher, to the extent there is a
reasonable basis for doing so under the terms of the Danaher TMA or otherwise. 
 (c) Newco shall use best efforts to take any of the
actions specified in Exhibit C hereto under the heading “TMA Ongoing Obligations” to the extent necessary to allow Fox to comply with its obligations under the Danaher TMA. 

10.2 Certain Provisions Incorporated By Reference. The provisions of Sections 9.2, 9.3, 9.4, 9.5,
9.7, 9.9, 9.13, 9.14 and 9.15 of the Distribution Agreement are hereby incorporated by reference mutatis mutandis. 

10.3 Conflicting Agreements. In the event and to the extent that there shall be a conflict between the provisions of this Agreement and
the provisions of the Distribution Agreement, this Agreement shall control with respect to the subject matter thereof. 
 10.4 Interest
on Late Payments. With respect to any payment between the Parties pursuant to this Agreement not made by the due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate
in effect for underpayments under Section 6621 of the Code from such due date to and including the payment date. 
 10.5
Successors. This Agreement shall be binding on and inure to the benefit of any successor by merger, acquisition of assets, or otherwise, to any of the parties hereto, to the same 

  
 -27- 

 
extent as if such successor had been an original party to this Agreement. As of the Effective Time, this Agreement shall be binding on Ainge and Ainge shall be subject to the obligations and
restrictions imposed on Newco hereunder, including, without limitation, with respect to the restrictions imposed on Newco under Section 4.2. 

10.6 Application to Present and Future Subsidiaries. This Agreement is being entered into by Fox and Newco on behalf of themselves and
the members of their respective Groups. This Agreement shall constitute a direct obligation of each such Party and shall be deemed to have been readopted and affirmed on behalf of any entity that becomes a Subsidiary of Fox or Newco in the future.

 10.7 Assignability. This Agreement shall not be assigned by any Party without the prior written consent of the other Party hereto,
except that each Party may assign its respective rights or delegate its respective obligations under this Agreement to any Affiliate of such Party; provided, however, that, in each case, no such assignment shall release such Party from
any liability or obligation under this Agreement. 
 10.8 No Fiduciary Relationship. The duties and obligations of the Parties, and
their respective successors and permitted assigns, contained herein are the extent of the duties and obligations contemplated by this Agreement; nothing in this Agreement is intended to create a fiduciary relationship between the Parties hereto, or
any of their successors and permitted assigns, or create any relationship or obligations other than those explicitly described. 
 10.9
Further Assurances. Subject to the provisions hereof, the Parties hereto shall make, execute, acknowledge and deliver such other instruments and documents, and take all such other actions, as may be reasonably required in order to effectuate
the purposes of this Agreement and to consummate the transactions contemplated hereby. 
 10.10 Survival. Notwithstanding any other
provision of this Agreement to the contrary, all representations, covenants and obligations contained in this Agreement shall survive until the expiration of the applicable statute of limitations with respect to any such matter (including extensions
thereof). 
 10.11 Notices. All notices, requests, claims, demands or other communications under this Agreement shall be in writing
and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile or electronic transmission with receipt confirmed (followed by delivery of an original
via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in
accordance with this Section 10.11): 
 If to Fox, to: 

c/o Fox Corporation 
 6920 Seaway
Blvd 
 Everett, WA 98203 

Attn: General Counsel 
 E-mail: peter.underwood@fortive.com 

  
 -28- 

 Facsimile: (425) 446-5007 

with a copy to: 
 Skadden, Arps,
Slate, Meagher & Flom LLP 
 Four Times Square 

New York, NY 10036 
 Attn: Thomas
W. Greenberg 
 E-mail: thomas.greenberg@skadden.com 

Facsimile: (212) 735-2000 

If to Ainge or Newco, to: 
 c/o
Altra Industrial Motion Corp. 
 300 Granite Street 

Suite 201 
 Braintree, MA 02184

 Attn: Glenn E. Deegan, Vice President, Legal and Human Resources, 

General Counsel and Secretary 

Email: glenn.deegan@altramotion.com 

Facsimile: (617) 671-0534 

with a copy to: 
 Cravath,
Swaine & Moore LLP 
 825 8th Avenue 

New York, NY 10019 
 Attn: Kara L.
Mungovan 
 Email: kmungovan@cravath.com 

Facsimile: (212) 474-3700 

Any notice to Fox will be deemed notice to all members of the Fox Group, and any notice to Newco will be deemed notice to all members of the
Newco Group. 
 10.12 Effective Date. This Agreement shall become effective only upon the occurrence of the Distribution. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 -29- 

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

			
	Fortive Corporation

 
			
		
	By	 	  

	Name:	 	
	Title:	 	

 
			
	
	Stevens Holding Company, Inc.

 
			
		
	By	 	  

	Name:	 	
	Title:	 	

 
			
	
	Altra Industrial Motion Corp.

 
			
		
	By	 	  

	Name:	 	
	Title:	 	

  
 [Tax Matters Agreement
Signature Page]EX-10.3

 Exhibit 10.3 

FORM OF INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT 

THIS INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT (this “Agreement”) is made as of [●] (the “Effective
Date”) by and between Fortive Corporation, a Delaware corporation (“Fortive”), Altra Industrial Motion Corp, a Delaware corporation (“Altra”), on behalf of itself and its Subsidiaries, including Stevens
Holding Company, Inc., a Delaware corporation (“Newco”) and the Direct Sales Purchasers (as defined below). Altra and Fortive are collectively referred to herein as the “Parties” and each individually referred to
herein as a “Party.” Capitalized terms used herein without being defined in this Agreement shall have the respective meanings given such terms in the Separation and Distribution Agreement, dated as of March 7, 2018 (as amended,
modified or supplemented from time to time in accordance with its terms, the “Distribution Agreement”), by and between Fortive, Newco and Altra. 

WHEREAS, Fortive, Newco, Altra and McHale Acquisition Corp., a wholly owned subsidiary of Altra, have entered into the Merger Agreement, dated
as of March 7, 2018 (as amended, modified or supplemented from time to time in accordance with its terms, the “Merger Agreement”); 

WHEREAS, Fortive or its Subsidiaries own certain Patents, Copyrights and Trade Secrets which may be used in the A&S Business as of the
Effective Date; 
 WHEREAS, Altra desires to obtain a license from Fortive to use such Intellectual Property Rights on the terms set forth
herein; 
 WHEREAS, Altra or its Subsidiaries own certain Patents, Copyrights and Trade Secrets which may be used in the businesses or
assets of Fortive or its Subsidiaries (other than the A&S Business) as of the Effective Date (the “Fortive Business”); and 

WHEREAS, Fortive desires to obtain a license from Ainge to use such Intellectual Property Rights on the terms set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 
  

	1.	DEFINITIONS 

 As used in this Agreement, the following terms, whether used in the singular or
plural, shall have the following meanings: 
  

	 	a.	“Altra Group” means the direct and indirect, wholly-owned Subsidiaries of Altra (but only as long as such entities remain direct or indirect, wholly-owned Subsidiaries of Altra). 

 

	 	b.	 “A&S Licensed Copyrights and Trade Secrets” means those Copyrights (excluding any
Trademarks) and Trade Secrets (i) owned or Licensable by Newco or its Subsidiaries as of the Effective Date, (ii) owned or Licensable by the Direct 

  
 1 

	 	
Sales Entities as of the Effective Date or (iii) included in the Direct Sales Assets as of the Effective Date, in each case, only if and to the extent used in the Fortive Business as of the
Effective Date. 

  

	 	c.	“A&S Licensed IP” means the A&S Licensed Copyrights and Trade Secrets and the A&S Licensed Patents. 

  

	 	d.	“A&S Licensed Patents” means (i) those Patents owned or Licensable by Newco or its Subsidiaries as of the Effective Date, (ii) those Patents owned or Licensable by the Direct Sales
Entities as of the Effective Date or (iii) those Patents included in the Direct Sales Assets as of the Effective Date and (iv) those Patents filed by Altra or its Subsidiaries (including Newco, its Subsidiaries and the Direct Sales
Entities) during the one (1)-year period following the Effective Date to the extent covering patentable subject matter (x) owned by Newco or its Subsidiaries as of the Effective Date, (y) owned by the Direct Sales Entities as of the
Effective Date or (z) included in the Direct Sales Assets as of the Effective Date, in each case (i)-(iv), only if and to the extent that, absent a license, the conduct of the Fortive Business as of the Effective Date would infringe issued
patents included in, or any patents that may issue on any patent applications included in, any of the foregoing. 

  

	 	e.	“Direct Sales Assets” has the meaning ascribed to such term in the Merger Agreement. 

  

	 	f.	“Direct Sales Entities” has the meaning ascribed to such term in the Merger Agreement. 

  

	 	g.	“Direct Sales Purchasers” has the meaning ascribed to such term in the Merger Agreement. 

  

	 	h.	“Distribution Date” means the date defined as such in the Separation and Distribution Agreement. 

  

	 	i.	“Excluded IP” means those Patents, Copyrights or Trade Secrets (i) comprising A&S Assets, Direct Sales Assets or assets of the Direct Sales Entities, (ii) which are contemplated to be
transferred or otherwise provided pursuant to Section 1.3 of the Separation and Distribution Agreement, or licensed or otherwise provided under the Transition Services Agreement, or (iii) which are listed or described on Exhibit A
hereto. 

  

	 	j.	“Fortive Licensed Copyrights and Trade Secrets” means those Copyrights (excluding any Trademarks) and Trade Secrets owned or Licensable by Fortive or its Subsidiaries (other than Newco and its
Subsidiaries) as of the Effective Date, only if and to the extent used in or held for use in the A&S Business as of the Effective Date (including the Copyrights and Trade Secrets in the Technology that is embodied in the Newco Products) or
embodied by the Technology otherwise delivered to Newco or its Subsidiaries or the Direct Sales Purchasers as of the Closing or pursuant to Section 1.3 of the Separation and Distribution Agreement; provided, however, that Fortive
Licensed Copyrights and Trade Secrets shall not include any Excluded IP. 

  
 2 

	 	k.	“Fortive Licensed IP” means the Fortive Licensed Copyrights and Trade Secrets and the Fortive Licensed Patents. 

  

	 	l.	“Fortive Licensed Patents” means (i) those Patents owned or Licensable by Fortive or its Subsidiaries (other than Newco and its Subsidiaries) as of the Effective Date, and (ii) those Patents
filed by Fortive or its Subsidiaries (other than Newco and its Subsidiaries or the Direct Sales Purchasers) during the one (1)-year period following the Effective Date to the extent covering patentable subject matter owned by Fortive or its
Subsidiaries (other than Newco and its Subsidiaries or the Direct Sales Purchasers) as of the Effective Date and not otherwise transferred to Newco or its Subsidiaries or the Direct Sales Purchasers, in each case (i) and (ii), only if and to
the extent that, absent a license, the conduct of the A&S Business as of the Effective Date would infringe issued patents included in, or any patents that may issue on any patent applications included in, any of the foregoing; provided,
however, that Fortive Licensed Patents shall not include any Excluded IP. 

  

	 	m.	“Licensable” means, with respect to any Intellectual Property Right, the right to grant sublicenses to a party within the scope of the licenses set forth in Section 2, without
the requirement to obtain consent from any third party; provided, however, that the sublicensor shall not be required to make payments to any third party for any fees, royalties or other costs in connection with such sublicense and the sublicensee
shall have the right, but not the obligation to make any such payment. 

  

	 	n.	“Licensed IP” means the Fortive Licensed IP and A&S Licensed IP, collectively. 

  

	2.	LICENSE GRANT 

 (a) Subject to the fulfillment of the terms and conditions of this Agreement,
Fortive (on behalf of itself and its Subsidiaries) hereby grants to Altra a worldwide, non-exclusive, royalty-free, sublicensable (for the benefit of Newco or the Direct Sales Purchasers or incidental to or
implied by the exercise of such license (including to subcontractors, distributors and end users), but except as expressly permitted under this Agreement, not for the independent use of third parties), perpetual, and irrevocable license, under the
Fortive Licensed IP to (i) use any Trade Secrets included therein (subject to Section 4 (Confidentiality)), (ii) use, modify, reproduce, display, perform, distribute and create derivative works from any Copyrights
included therein and (iii) use, make, manufacture, have made, import, sell and offer for sale any products or services that are covered by, embody or would otherwise infringe any Fortive Licensed Patents, and in the case of (i) – (iii),
only with respect to those products, services, processes and activities of the A&S Business as of the Effective Date and any products, services, processes or activities that are equivalent or substantially similar to or improvements of such
products, services, processes or activities. Altra shall ensure that each of its sublicensees complies with all applicable terms and conditions hereof and shall be directly liable hereunder in the event of any breach or non-compliance by any such sublicensees. 
 (b) Subject to the fulfillment of the terms and conditions of
this Agreement, Altra (on behalf of itself and its Subsidiaries, including Newco and the Direct Sales Purchasers) hereby grants to Fortive a worldwide, non-exclusive, royalty-free, sublicensable (for the
benefit of the 

  
 3 

 
Fortive Group or incidental to or implied by the exercise of such license (including to subcontractors, distributors and end users), but except as expressly permitted under this Agreement, not
for the independent use of third parties), perpetual, and irrevocable license, under the A&S Licensed IP to (i) use any Trade Secrets included therein (subject to Section 4 (Confidentiality)), (ii) use, modify, reproduce, display,
perform, distribute and create derivative works from any Copyrights included therein and (iii) use, make, manufacture, have made, import, sell and offer for sale any products or services that are covered by, embody or would otherwise infringe
any A&S Licensed Patents, and in the case of (i) – (iii), only with respect to those products, processes and activities of the Fortive Business as of the Effective Date and any products, services, processes or activities that are equivalent
or substantially similar to or improvements of such products, services, processes or activities. Fortive shall ensure that each of its sublicensees complies with all applicable terms and conditions hereof and shall be directly liable hereunder in
the event of any breach or non-compliance by any such sublicensees. 
  

	3.	INTELLECTUAL PROPERTY RIGHTS 

 a. Subject to the license granted in
Section 2(a), Fortive shall retain the entire right, title and interest in and to the Fortive Licensed IP including all intellectual property rights therein. For the avoidance of doubt, Fortive shall have the sole right to
defend and enforce any and all intellectual property rights covering the Fortive Licensed IP. 
 b. Subject to the license granted in
Section 2(b), Altra shall retain the entire right, title and interest in and to the A&S Licensed IP including all intellectual property rights therein. For the avoidance of doubt, Altra shall have the sole right to
defend and enforce any and all intellectual property rights covering the A&S Licensed IP. 
 c. Subject to the ownership rights of Fox
in the underlying Fortive Licensed IP, Fortive, on behalf of itself and its Subsidiaries, acknowledges and agrees that ownership of any of the new original elements of modifications to or derivative works created by or on behalf of Altra or its
Subsidiaries from the Fortive Licensed IP shall reside with Altra. Subject to the ownership rights of Ainge in the underlying A&S Licensed IP, Altra, on behalf of itself and its Subsidiaries, acknowledges and agrees that ownership of any of the
new original elements of modifications to or derivative works created by or on behalf of Fortive or its Subsidiaries from the A&S Licensed IP shall reside with Fortive. Neither Party shall have any obligation to make any such derivative work or
modification available to the other Party, subject to each Party’s ownership rights in the underlying work. 
 d. All rights not
expressly granted by a Party hereunder are reserved by such Party. Each party acknowledges that the licenses granted in Section 2(a) and Section 2(b) do not include any Intellectual Property Rights
created, invented, developed or acquired by either Party after the Effective Date except as expressly permitted under Section 1(d) and Section 1(l). 

 

	4.	CONFIDENTIALITY 

 a. Certain non-public information and
Intellectual Property Rights (collectively, the “Confidential License Information”) may be, or may have been prior to the date hereof, provided by a Party (or its Subsidiaries or Representatives) (the “Disclosing
Party”) to the other Party (or its Subsidiaries or Representatives) (the “Receiving Party”). The Receiving Party agrees that (i) it will keep such Confidential License Information confidential, using at least the same
degree of care used to protect its own confidential or proprietary information, but not less than reasonable 

  
 4 

 
care, to prevent the disclosure or accessibility to others of the Disclosing Party’s Confidential License Information and (ii) it will use the Disclosing Party’s Confidential
License Information only for purposes expressly permitted under this Agreement. Each of the Parties will instruct its Subsidiaries and Representatives having access to such Confidential License Information of such obligation of confidentiality. 

b. The requirements of Section 4(a) shall not apply to any and all information that the Receiving Party can show:
(a) was already known to the Receiving Party at the time of disclosure and is not subject to a confidentiality obligation, except in the case of any Trade Secret received by the Receiving Party prior to the date hereof which shall still be
subject to the requirements of Section 4(a); (b) is independently developed by the Receiving Party without breach of this Agreement; (c) is already in the public domain at the time of disclosure, or thereafter becomes publicly known other
than as the result of a breach by the Receiving Party of its obligations under this Agreement; (d) is received from a third party without breach of this Agreement or a confidentiality obligation to the Disclosing Party known to the Receiving
Party; or (4) is required by any Law or Governmental Authority to be disclosed, after prior notice has been given to the relevant Party to the extent such notice is permitted by applicable Law. 

c. If, at any time, the Receiving Party determines that any of its Representatives has disclosed, or sought to disclose, Confidential License
Information of the Disclosing Party in violation of this Agreement, or that the Receiving Party or any of its Representatives has engaged in activities that may lead to the unauthorized use or disclosure of any Confidential License Information of
the Disclosing Party, the Receiving Party shall immediately take action to prevent any further unauthorized use or disclosure, including where appropriate, terminating the applicable personnel’s access to such Confidential License Information
and immediately notifying the Disclosing Party. The Receiving Party will cooperate with the Disclosing Party in investigating any apparent unauthorized disclosure or use of the Confidential License Information of the Disclosing Party. 

 

	5.	TERM 

 a. The term of this Agreement shall commence on the Effective Date and continue until the
last to lose protection of the A&S Licensed IP and the Fox Licensed IP. 
  

	6.	DISCLAIMER 

 EXCEPT AS EXPRESSLY SET FORTH HEREIN, EACH PARTY (ON BEHALF OF ITSELF AND ITS
AFFILIATES) ACKNOWLEDGES AND AGREES THAT THE LICENSED IP IS PROVIDED “AS IS,” EACH PARTY ASSUMES ALL RISKS AND LIABILITIES ARISING FROM OR RELATING TO ITS USE OF, AND RELIANCE UPON, THE LICENSED IP, AND THAT NO PARTY MAKES ANY
REPRESENTATIONS OR WARRANTIES IN RESPECT OF THE LICENSED IP OF ANY KIND, NATURE OR DESCRIPTION, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR
NON-INFRINGEMENT, AND FORTIVE AND ALTRA HEREBY EXPRESSLY DISCLAIM THE SAME. 

  
 5 

	7.	GENERAL PROVISIONS 

 a. Certain Provisions Incorporated by Reference. The provisions of
Sections 8.1, 9.3, 9.7, 9.13, 9.14 and 9.15 of the Distribution Agreement are hereby incorporated by reference mutatis mutandis. 

b. Press Releases and Announcements. Neither Party shall issue (and each Party shall cause its Affiliates not to issue) any press
release or other public disclosure relating to the subject matter of this Agreement without the prior written approval of the other Party. 

c. Notices. The provisions of Section 9.6 of the Distribution Agreement are hereby incorporated by reference mutatis
mutandis, except that the notices and communications delivered to Altra hereunder shall be delivered as set forth below. 
  

			
	 If to Fortive:
  

Fortive Corporation
6920 Seaway Blvd
Everett, WA 98203
Attn: Peter C. Underwood, Senior Vice

President, General Counsel & Secretary
Email: peter.underwood@fortive.com
Facsimile: (425)
446-5007
	  	 With required copies to:
  

Skadden, Arps, Slate, Meagher & Flom LLP
 Four Times
Square
 New York, New York 10036
 Attn: Thomas W. Greenberg

Email: thomas.greenberg@skadden.com
 Facsimile: (212) 735-2000

		
	 If to Altra:
  

c/o Altra Industrial Motion Corp.
300 Granite Street
Suite 201
Braintree, MA 02184
Attn: Glenn E. Deegan, Vice President,

Legal and Human Resources, 
General Counsel and Secretary
Email: glenn.deegan@altramotion.com
Facsimile: (617)
671-0534
	  	 With required copies to:
  

Cravath, Swaine & Moore LLP
 825 8th Avenue

New York, New York 10019
 Facsimile: (212) 474-3700
 Attn: Thomas E. Dunn

E-mail: tdunn@cravath.com

 d. Incorporation of Other Documents. The other documents referred to herein and all documents and
instruments contemplated hereby and thereby are incorporated herein by reference and made a part hereof but only with respect to the specific portions thereof referenced herein. 

e. Third Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any Person other than the Parties. 

f. Assignment. This Agreement shall be binding upon, and shall be enforceable by and inure solely to the benefit of, the Parties hereto
and their respective successors and assigns; provided, however, that neither this Agreement nor either Party’s rights or obligations hereunder may be assigned, transferred or delegated by such Party without the prior written consent of the

  
 6 

 
other Party, and any attempted assignment or delegation of this Agreement or any of such rights or obligations by any Party without the prior written consent of the other Parties shall be void
and of no effect. For purposes of the preceding sentence, and without limiting its generality, any merger, consolidation, or reorganization involving a Party (regardless of whether such Party is a surviving or disappearing entity) shall be deemed to
be a transfer of rights under this Agreement for which the other Party’s prior written consent is required. 
 [Signature page follows]

  
 7 

 IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the day and year first
above written. 
  

			
	FORTIVE CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	ALTRA INDUSTRIAL MOTION CORP.
		
	By:	 	  

		 	Name:
		 	Title:

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