Document:

Exhibit 10.2

   

  

  EXECUTION VERSION

   

  

   
  
    TAX MATTERS AGREEMENT

     

    BY AND AMONG

     

    INGERSOLL-RAND PLC,

     

    INGERSOLL-RAND LUX INTERNATIONAL HOLDING COMPANY S.À R.L.,

     

    INGERSOLL-RAND SERVICES COMPANY,

     

    INGERSOLL-RAND U.S. HOLDCO, INC.,

     

    AND

     

    GARDNER DENVER HOLDINGS, INC.

     

    February 29, 2020

     

    
      i

      
        

    

    
    TABLE OF CONTENTS

     

    	 	 	 	
            Page

          
	 	 	 	 
	
            ARTICLE I DEFINITION OF TERMS

          	
            2

          
	 	 
	
            ARTICLE II PREPARATION AND FILING OF TAX RETURNS

          	12
	 	 
	 	
            Section 2.1

          	
            Consolidated Returns

          	
            12

          
	 	
            Section 2.2

          	
            Separate Entity Tax Returns

          	
            12

          
	 	
            Section 2.3

          	
            Tax Reporting Practices

          	
            12

          
	 	
            Section 2.4

          	
            Right to Review Tax Returns

          	
            13

          
	 	
            Section 2.5

          	
            Carrybacks and Amended Tax Returns

          	
            15

          
	 	
            Section 2.6

          	
            Apportionment of Tax Attributes

          	
            16

          
	 	
            Section 2.7

          	
            Coordination

          	
            17

          
	 	 	 	 
	
            ARTICLE III ALLOCATION OF TAX LIABILITIES

          	
            17

          
	 	 
	 	
            Section 3.1

          	
            General Rule

          	
            17

          
	 	
            Section 3.2

          	
            Attribution of Taxes

          	
            17

          
	 	 	 	 
	
            ARTICLE IV TAX PAYMENTS

          	
            18

          
	 	 
	 	
            Section 4.1

          	
            Payment of Amounts Due

          	
            18

          
	 	
            Section 4.2

          	
            Treatment of Indemnification and Other Payments

          	
            19

            

          
	 	 	 	 
	
            ARTICLE V TAX REFUNDS

          	
            20

          
	 	 
	 	
            Section 5.1

          	
            Tax Refunds and Credits

          	
            20

          
	 	 	 	 
	
            ARTICLE VI DEDUCTION AND REPORTING OF EMPLOYEE AWARDS

          	
            20

          
	 	 
	 	
            Section 6.1

          	
            Moon and SpinCo Income Tax Deductions in Respect of Certain Equity Awards and Compensation

          	
            20

          
	 	 	 	 
	
            ARTICLE VII TAX-FREE STATUS

          	
            21

          
	 	 
	 	
            Section 7.1

          	
            Representations and Warranties

          	
            21

          
	 	
            Section 7.2

          	
            Restrictions on SpinCo

          	
            22

          
	 	
            Section 7.3

          	
            Opinions, Rulings and Voluntary Disclosures

          	
            23

          
	 	
            Section 7.4

          	
            Procedures Regarding Opinions and Rulings

          	
            24

          
	 	 	 	 
	
            ARTICLE VIII REPORTING, COOPERATION AND RECORD RETENTION

          	
            24

          
	 	 
	 	
            Section 8.1

          	
            Assistance and Cooperation

          	
            24

          
	 	
            Section 8.2

          	
            Return Information

          	
            25

          
	 	
            Section 8.3

          	
            Non-Performance

          	
            25

          
	 	
            Section 8.4

          	
            Costs

          	
            25

          

    

    

    
      
        

    

    	 	
            Section 8.5

          	
            Retention of Tax Records

          	
            25

          
	 	
            Section 8.6

          	
            Access to Tax Records

          	
            26

          
	 	 	 	 
	
            ARTICLE IX TAX PROCEEDINGS

          	
            26

          
	 	 
	 	
            Section 9.1

          	
            Notice

          	
            26

          
	 	
            Section 9.2

          	
            Control of Tax Proceedings

          	
            26

          
	 	 	 	 
	
            ARTICLE X INTEREST PAYMENTS

          	
            28

          
	 	 
	 	
            Section 10.1

          	
            Interest Under This Agreement

          	
            28

          
	 	 	 	 
	
            ARTICLE XI DISAGREEMENTS

          	
            29

            

          
	 	 
	 	
            Section 11.1

          	
            Discussion

          	
            29

            

          
	 	
            Section 11.2

          	
            Referral to Independent Arbiter

          	
            29

            

          
	 	 	 	 
	
            ARTICLE XII TERM AND COSTS

          	
            30

          
	 	 
	 	
            Section 12.1

          	
            Effective Date

          	
            30

          
	 	
            Section 12.2

          	
            Survival

          	
            30

          
	 	
            Section 12.3

          	
            Expenses

          	
            30

          
	 	
            Section 12.4

          	
            Payments

          	
            30

          
	 	
            Section 12.5

          	
            Interest

          	
            30

          
	 	 	 	 
	
            ARTICLE XIII GENERAL PROVISIONS

          	
            31

          
	 	 
	 	
            Section 13.1

          	
            Notices

          	
            31

          
	 	
            Section 13.2

          	
            Assignment, Successors, Beneficiaries

          	
            32

          
	 	
            Section 13.3

          	
            Waiver

          	
            32

          
	 	
            Section 13.4

          	
            Severability

          	
            32

          
	 	
            Section 13.5

          	
            Authority

          	
            33

          
	 	
            Section 13.6

          	
            Further Assurances

          	
            33

          
	 	
            Section 13.7

          	
            Integration

          	
            33

          
	 	
            Section 13.8

          	
            Rules of Construction

          	
            33

          
	 	
            Section 13.9

          	
            Governing Law; Submission to Jurisdiction; Waiver of Trial

          	
            34

          
	 	
            Section 13.10

          	
            Specific Performance

          	
            35

          
	 	
            Section 13.11

          	
            Counterparts

          	
            36

          
	 	
            Section 13.12

          	
            Moon or SpinCo Affiliates

          	
            36

          

    

    

    
      
        

    

    TAX MATTERS AGREEMENT

     

    This TAX MATTERS AGREEMENT (this “Agreement”) is made and entered into as of February 29,
      2020, by and among Ingersoll-Rand Plc, a Republic of Ireland public limited company (“Moon”), Ingersoll-Rand Lux International Holding Company S.à r.l., a Luxembourg société à responsibilité limitée (“Moon LuxCo”), Ingersoll-Rand Services Company, a Delaware corporation (“SpinCo Borrower”), Ingersoll-Rand U.S. HoldCo, Inc., a Delaware corporation and wholly owned subsidiary of Moon (“SpinCo”), and
      Gardner Denver Holdings, Inc., a Delaware corporation (“Clover,” and together with Moon and SpinCo, the “Parties,” and each a “Party”).

     

    RECITALS

     

    WHEREAS, the Board of Directors of Moon has determined that it is in the best interests of Moon and its shareholders to separate the SpinCo Business from
      the Moon Business and to divest the SpinCo Business in the manner contemplated by the Separation and Distribution Agreement by and between Moon and SpinCo, dated as of April 30, 2019 (the “Separation
          and Distribution Agreement”) and the Merger Agreement;

     

    WHEREAS, the Board of Directors of Moon and the Board of Directors of SpinCo have approved the transfer of the SpinCo assets to SpinCo and its Affiliates
      and the assumption by SpinCo and its Affiliates of the SpinCo liabilities, all as more fully described in the Separation and Distribution Agreement and the other Transaction Documents;

     

    WHEREAS, upon the terms and subject to the conditions set forth in the Separation and Distribution Agreement, on the Distribution Date, Moon will either
      (a) cause Moon shareholders to receive on a pro rata basis for no consideration all the shares of SpinCo Common Stock, or (b) consummate an offer to exchange (the “Exchange Offer”) shares of
      SpinCo Common Stock for outstanding shares of Moon Common Stock and, in the event that Moon’s shareholders subscribe for less than all of the SpinCo Common Stock in the Exchange Offer, Moon will distribute, pro rata to its shareholders, any unsubscribed SpinCo Common Stock on the Distribution Date immediately following the consummation of the
      Exchange Offer (in each case, the “Distribution”);

     

    WHEREAS, pursuant to the Agreement and Plan of Merger, dated as of April 30, 2019 (the “Merger Agreement”),

      by and among Moon, SpinCo, Clover, and Clover Merger Sub Inc., a Delaware corporation (“Merger Sub”), immediately following the Distribution, Merger Sub will merge with and into SpinCo (the
      “Merger”) and all shares of SpinCo Common Stock will be converted into common stock, $0.01 par value, of Clover, upon the terms and subject to the conditions set forth in the Merger
      Agreement;

     

    WHEREAS, it is the intention of the Parties that, for U.S. federal income Tax purposes: (a) the Contribution and Distribution qualify as tax‐free under
      Sections 368(a), 361 and 355 of the Code; (b) each of the transactions described on Schedule 7.3(b) to the Merger Agreement
      qualify as either a “distribution” under Section 355 of the Code or as a “reorganization” under Sections 368(a), 361 and 355 of the Code; (c) the Merger qualify as a “reorganization” within the meaning of Section 368(a) of the Code; (d) no income,
      gain or loss be recognized as a result of such transactions described in clauses (a), (b) and (c) by any of Moon, SpinCo, Clover, their respective Subsidiaries, the holders of SpinCo Common Stock (except with respect to the receipt of cash in lieu of
      fractional shares of Clover Common Stock) or the holders of Moon Common Stock (except with respect to the receipt of cash in lieu of fractional shares of SpinCo Common Stock, if any); and (e) each of the Merger Agreement and the Separation and
      Distribution Agreement constitute a “plan of reorganization” within the meaning of Sections 1.368‐2(g) and 1.368‐3(a) of the Treasury Regulations; and

     

    
      
        

    

    
    WHEREAS, the Parties wish to (a) 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 (b) set forth certain covenants and indemnities relating to the preservation of the tax-free status of certain Separation Transactions and the
      Merger.

     

    NOW, THEREFORE, in consideration of the foregoing and the terms, conditions, representations, warranties, covenants and agreements contained herein, and
      intending to be legally bound hereby, the Parties agree as follows:

     

    ARTICLE I

     

    Definition of Terms

     

    For purposes of this Agreement (including the recitals hereof), the following terms have the following meanings:

     

    “Action” has the meaning set forth in the Separation and Distribution Agreement.

     

    “Active Business” means any business relied on to satisfy (i) the active trade or business
      requirement of Section 355(b) (taking into account Section 355(b)(3) of the Code) or (ii) the continuity of business enterprise requirements under Section 1.355-3 and Treasury Regulations Section 1.368-1(d), to the extent identified as such in the
      Tax Materials; provided, that none of the businesses specified on Schedule I shall constitute an “Active Business.”

     

    “Active Business Entities” means any entity identified in the Tax Materials as conducting an
      Active Business as of the Distribution Date.

     

    “Affiliate” has the meaning set forth in the Separation and Distribution Agreement.

     

    “Business Day” means any day that is not a Saturday, Sunday or other day on which the Federal
      Reserve Bank of New York is closed.

     

    “Capital Stock” means all classes or series of capital stock of a Person, including (i)
      common stock, (ii) all options, warrants and other rights to acquire such capital stock and (iii) all instruments properly treated as stock in such Person for U.S. federal income tax purposes.

     

    “Clover Common Stock” has the meaning set forth in the Merger Agreement.

     

    
      2

      
        

    

    “Clover Consolidated Return” means any Combined Income Tax Return that includes Clover or any
      Clover Entity that is not a Moon Consolidated Return.

     

    “Clover Entity” means any Subsidiary of Clover immediately after the effectiveness of the
      Merger that is not a member of the SpinCo Group.

     

    “Clover Group” means, individually or collectively, as the case may be, Clover and any Clover
      Entities.

     

    “Clover Tax Opinion” has the meaning set forth in the Merger Agreement.

     

    “Code” means the U.S. Internal Revenue Code of 1986.

     

    “Combined Group” means any group that filed or was required to file (or will file or be
      required to file) a Tax Return on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis under any applicable Tax Law.

     

    “Combined Income Tax Return” means any Tax Return filed in respect of U.S. federal, state,
      local or non-U.S. Income Taxes for a Combined Group.

     

    “Contribution” has the meaning set forth in the Separation and Distribution Agreement.

     

    “Distribution” has the meaning set forth in the Separation and Distribution Agreement.

     

    “Distribution Date” has the meaning set forth in the Separation and Distribution Agreement.

     

    “Distribution Tax-Related Losses” means (a) all Distribution Taxes imposed pursuant to any
      settlement, Final Determination, judgment or otherwise and (b) all reasonable accounting, legal and other professional fees and court costs incurred in connection with such Distribution Taxes, in each case, resulting from the failure of any
      Separation Transaction or the Merger to qualify for the Intended Tax Treatment.

     

    “Distribution Taxes” means, without duplication, any and all Taxes (a) required to be paid by
      or imposed on Moon or any of its Affiliates resulting from, or directly arising in connection with, the failure of the Contribution and Distribution, taken together, to qualify as a reorganization described in Sections 355(a) and 368(a)(1)(D) of the
      Code (or the failure to qualify under or the application of corresponding provisions of U.S. state or local Tax Laws); (b) required to be paid by or imposed on Moon or any of its Affiliates resulting from, or directly arising in connection with, the
      failure of the stock distributed in the Distribution to constitute “qualified property” for purposes of Sections 355(d), 355(e) and Section 361(c) of the Code (or any corresponding provision of the U.S. state or local Tax Laws); or (c) required to be
      paid by or imposed on Moon or any of its Affiliates resulting from, or directly arising in connection with, the failure of any Separation Transaction to qualify for the Intended Tax Treatment.

     

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

     

    
      3

      
        

    

    “Due Date” means (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, which shall in any case be no later than the payment date required to
      avoid the incurrence of interest, penalties and additions to Tax.

     

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

     

    “Employee Matters Agreement” has the meaning set forth in the Merger Agreement.

     

    “Extraordinary Transaction” means any action that is not in the ordinary course of business,
      but shall not include any action expressly required or permitted by the Separation and Distribution Agreement, the Merger Agreement or any Transaction Document or that is undertaken pursuant to the Separation Transactions or the Merger.

     

    “Final Determination” means the final resolution of liability for any Tax, which resolution
      may be for a specific issue or adjustment or for a taxable period, (a) by IRS Form 870 or 870-AD (or any successor forms thereto), on the date of acceptance by or on behalf of the taxpayer, or by a comparable form under the laws of a state, local, or
      non-U.S. taxing jurisdiction, except that a Form 870 or 870-AD or comparable form shall not constitute a Final Determination to the extent that it reserves (whether by its terms or by operation of law) the right of the taxpayer to file a claim for
      refund or the right of the Tax Authority to assert a further deficiency in respect of such issue or adjustment or for such taxable period (as the case may be); (b) by a decision, judgment, decree, or other order by a court of competent jurisdiction,
      which has become final and unappealable; (c) by a closing agreement or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the laws of a state, local, or non-U.S. taxing jurisdiction; (d) by 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 may be recovered (including by way of offset) by the jurisdiction imposing such Tax; (e) by a final settlement
      resulting from a treaty-based competent authority determination; or (f) by any other final disposition, including by reason of the expiration of the applicable statute of limitations or by mutual agreement of the Parties.

     

    “Group” means the Moon Group, the SpinCo Group, the Clover Group, or one or more such Groups,
      in each case, as the context requires.

     

    “Income Tax Returns” means all Tax Returns that relate to Income Taxes.

     

    “Income Taxes” means all Taxes based upon, measured by, or calculated with respect to (i) net
      income or profits (including any capital gains tax), (ii) multiple bases (including corporate franchise and business Taxes) if one or more bases upon which such Tax is determined is described in clause (i) above, and (iii) in each case, any such Tax
      that is a minimum Tax.

     

    
      4

      
        

    

    “Intended Tax Treatment” means that (i) the Contribution and Distribution, taken together,
      will constitute a tax-free reorganization to Moon and Moon shareholders for all purposes pursuant to Sections 355, 361 and 368(a)(1)(D) of the Code and the SpinCo Common Stock received pursuant to the Distribution will constitute “qualified property”
      for purposes of Sections 355 and 361(c) of the Code; (ii) the Merger will constitute a tax-free reorganization pursuant to Section 368(a) of the Code; (iii) the payment of the SpinCo Payment and distribution of any assets and liabilities that are not
      (x) SpinCo Assets (as defined in the Separation and Distribution Agreement), (y) SpinCo Liabilities (as defined in the Separation and Distribution Agreement) or (z) liabilities under the Financing (as defined in the Separation and Distribution
      Agreement) by the SpinCo Borrower (as defined in the Separation and Distribution Agreement) to Moon LuxCo will be a distribution described under Section 361(b) of the Code; (iv) each of the transactions described on Schedule 7.3(b) to the Merger Agreement qualify as either a “distribution” under Section 355 of the Code or as a “reorganization” under Sections 368(a), 361 and
      355 of the Code, as applicable; and (v) any other transaction (or combination of transactions) undertaken pursuant to the Reorganization qualifies for tax-free treatment under applicable Law, as determined by Moon in its reasonable discretion and in
      accordance with the Plan of Reorganization, but, in the case of this clause (v), only to the extent that any such transaction (or combination of transactions) is undertaken pursuant to the Plan of Reorganization, and its intended tax-free treatment
      is described in a “more likely than not” (or higher level) opinion or memorandum of a Tax Advisor or ruling from a Tax Authority obtained by Moon (at the sole expense of the Moon Group) that has been provided to Clover prior to the Distribution
      Date.  The term “Intended Tax Treatment” will, as applicable, also include the qualification of each transaction described in clauses (i)-(v) above under comparable provisions of state or local Tax Law or, in the case of clause (v), non-U.S. Tax Law.

     

    “IRS” means the United States Internal Revenue Service.

     

    “Law” means any U.S. or non-U.S. federal, national, supranational, state, provincial, local
      or similar statute, law, ordinance, regulation, rule, code, administrative pronouncement, treaty, order, requirement or rule of law (including common law).

     

    “Mixed Business Tax Return” means any Separate Entity Tax Return that reflects or reports
      Taxes that relate to at least one asset or activity that is part of the Moon Business, on the one hand, and at least one asset or activity that is part of the SpinCo Business, on the other hand.

     

    “Moon Business” has the meaning set forth in the Separation and Distribution Agreement.

     

    “Moon Consolidated Return” means any Combined Income Tax Return that includes any member of
      the Moon Group.

     

    “Moon Consolidated Taxes” means any U.S. federal Income Taxes attributable to any Moon
      Consolidated Return.

     

    “Moon Entity” means any Subsidiary of Moon from and after the Distribution Time.

     

    “Moon Group” means, individually or collectively, as the case may be, Moon and any Moon
      Entities.

     

    “Moon Tainting Act” means (a) any action (or the failure to take any action) within its
      control by Moon or any member of the Moon Group (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions) that, (b) any event (or series of events) involving
      the Capital Stock of Moon, any assets of Moon or any assets of any member of the Moon Group that, or (c) any breach by Moon or any member of the Moon Group of any representation, warranty or covenant made by such Person in this Agreement that, in
      each case, would affect the Intended Tax Treatment or otherwise cause a Separation Transaction or the Merger to fail to qualify for its Intended Tax Treatment, other than, in each case, any action required by the Separation and Distribution
      Agreement, Merger Agreement or any Transaction Document or undertaken pursuant to the Distribution.

     

    
      5

      
        

    

    “Moon Taxes” means, without duplication, and after accounting for any adjustment pursuant to
      a Final Determination, (a) any Moon Consolidated Taxes, (b) any Income Taxes of (i) SpinCo or any member of the SpinCo Group for (A) any Pre-Distribution Period and (B) to the extent attributable to assets or activities of the Moon Business, as
      determined pursuant to Section 3.2, any Post-Distribution Period or (ii) Moon or a member of the Moon Group, but excluding in either case any Taxes included in clause
      (a)(i) of the definition of SpinCo Taxes, (c) any Other Taxes of (i) SpinCo or any member of the SpinCo Group attributable to assets or activities of the Moon Business, as determined pursuant to Section 3.2, or (ii) Moon or a member of the Moon Group, but excluding in either case any Taxes included in clause (b)(i) of the definition of SpinCo Taxes, (d) any Taxes imposed on SpinCo, Clover, or any member of the
      SpinCo Group or Clover Group under Treasury Regulations Section 1.1502-6 (or any equivalent provision of other Tax Law) as a result of SpinCo or any member of the SpinCo Group being or having been included as part of, or ceasing to be part of or
      owned by, a Combined Group with any Person that is not a member of the SpinCo Group on or prior to the Distribution Date, (e) subject to Section 3.1(c), any Taxes
      attributable to a Moon Tainting Act, (f) any Taxes of Moon or any Subsidiary of Moon or former Subsidiary of Moon, including members of the SpinCo Group (each, immediately prior to the Distribution Time) attributable to the Separation Transactions
      (including the settlement of any intercompany transactions), and (g) any Transfer Taxes; provided, that Moon Taxes shall not include any Taxes included in clauses (c), (d), (e) and (f) of
      the definition of SpinCo Taxes.

     

    “Moon Tax Opinion” has the meaning set forth in the Merger Agreement.

     

    “Other Taxes” means Taxes other than Income Taxes.

     

    “Person” means an individual, a partnership, a corporation, a limited liability company, an
      association, a joint stock company, a trust, a joint venture, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof, without regard to whether any entity is treated as disregarded for U.S.
      federal income tax purposes.

     

    “Plan of Reorganization” has the meaning set forth in the Separation and Distribution
      Agreement.

     

    “Post-Distribution Period” means any Tax Period beginning after the Distribution Date, and,
      in the case of any Straddle Period, the portion of such Straddle Period beginning the day after the Distribution Date.

     

    
      6

      
        

    

    “Pre-Distribution Period” means any Tax Period ending on or before the Distribution Date,
      and, in the case of any Straddle Period, the portion of such Straddle Period ending on the Distribution Date.

     

    “Privilege” means any privilege that may be asserted under applicable Law, including, any
      privilege arising under or relating to the attorney-client relationship (including the attorney-client and work product privileges), the accountant-client privilege and any privilege relating to internal evaluation processes.

     

    “Proposed Acquisition Transaction” means a transaction or series of transactions (or any
      agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulations 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 management or shareholders of SpinCo or Clover, is a hostile acquisition, or otherwise, as a result of which SpinCo or Clover 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 SpinCo and/or one or more holders of outstanding shares of SpinCo Capital Stock (or the Capital Stock of any direct or indirect parent thereof), a number of shares of such
      Capital Stock that would, when combined with any other direct or indirect changes in ownership of such Capital Stock pertinent for purposes of Section 355(e) of the Code (including the Merger), comprise fifty percent (50%) or more of (i) the value of
      all outstanding shares of such Capital Stock 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 (ii) the total combined voting power of all outstanding shares of voting
      stock of SpinCo (or any direct or indirect parent thereof) 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 Clover of a shareholder rights plan or (B) issuances by SpinCo or Clover 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 Regulations Section 1.355-7(d).  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 shareholders.  This definition, and the application thereof, is intended to monitor compliance with Section 355(e) of the
      Code and shall be interpreted accordingly.  Any clarification of, or change in, the statute or regulations promulgated under Section 355(e) of the Code shall be incorporated in this definition and its interpretation, subject to the reasonable review
      of Moon and its Tax Advisors in consultation with Clover and its Tax Advisors.  For the avoidance of doubt, the Merger shall not by itself constitute a Proposed Acquisition Transaction, nor shall any equity compensation of Clover to Clover employees
      constitute a Proposed Acquisition Transaction to the extent such equity compensation is described in the Tax Representation Letters and addressed in the Moon Tax Opinion.

     

    “Refund” means any refund (or credit in lieu thereof) of Taxes (including any overpayment of
      Taxes that can be refunded or, alternatively, applied to other Taxes payable) or other reduction or offset of Taxes otherwise payable, including any interest paid on or with respect to such refund of Taxes.  The amount of any Refund shall be
      determined net of any Taxes actually imposed by any Tax Authority on the Party receiving the refund, after accounting for the provisions of Section 5.1.

     

    
      7

      
        

    

    “Reorganization” has the meaning set forth in the Separation and Distribution Agreement.

     

    “Restricted Period” means the period beginning at the Distribution Time and ending on the two
      (2)-year anniversary of the day after the Distribution Date.

     

    “Separate Entity Tax Return” means any Tax Return, other than any Moon Consolidated Return or
      Clover Consolidated Return, relating to the Moon Business, the SpinCo Business, or both the Moon Business and SpinCo Business.

     

    “Separation Transactions” means those transactions undertaken prior to and up to the
      Distribution Time by Moon, SpinCo and their Affiliates, pursuant to the Reorganization, to separate ownership of the SpinCo Business from ownership of the Moon Business, including the Contribution and the Distribution.

     

    “Specified Shareholder” means any Person listed on Schedule II.

     

    “SpinCo Business” has the meaning set forth in the Separation and Distribution Agreement.

     

    “SpinCo Entity” means any Subsidiary of SpinCo from and after the Distribution Time.

     

    “SpinCo Group” means, individually or collectively, as the case may be, SpinCo and any SpinCo
      Entities.

     

    “SpinCo Tainting Act” means (a) any action (or the failure to take any action) within its
      control by SpinCo, Clover or any member of their respective Groups (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions), (b) any event (or series of
      events) involving the SpinCo Capital Stock (or the Capital Stock of any direct or indirect parent thereof), any assets of SpinCo or any assets of any member of the SpinCo Group, (c) any breach by SpinCo, Clover or any member of the SpinCo Group or
      Clover Group of any representation, warranty or covenant made by such Person in this Agreement that, in each case, would affect the Intended Tax Treatment or otherwise cause a Separation Transaction or the Merger to fail to qualify for the Intended
      Tax Treatment or (d) any action by a Specified Shareholder (A) to actually or constructively acquire any additional shares of Clover, (B) to the extent such action would give rise to any Proposed Acquisition Transaction, (C) to approve any Proposed
      Acquisition Transaction for any purpose or (D) to otherwise effect any Proposed Acquisition Transaction with respect to SpinCo Action; provided, that, SpinCo Tainting Act shall not include
      any action required by the Separation and Distribution Agreement, the Merger Agreement or any Transaction Document or undertaken pursuant to the Distribution.  For purposes of clause (v) of the definition of Intended Tax Treatment an action shall
      only be a SpinCo Tainting Action if (i) Moon has notified SpinCo of such action pursuant to Section 7.1(e), (ii) including such action as a SpinCo Tainting Action would not reasonably be
      expected (in light of the terms of this Agreement and the other Transaction Documents) to impede the operations of or otherwise adversely affect the SpinCo Business in any respect material to the SpinCo Business, and (iii) such action does not
      otherwise restrict the disposition of any of the businesses listed on Schedule I. Any action relating to clause (v) of the definition of Intended Tax Treatment that is otherwise a SpinCo
      Tainting Act will cease to be a SpinCo Tainting Act on the first anniversary of the Distribution Date, subject to extension by no more than one additional year if and to the extent the opinion or memorandum of a Tax Advisor or ruling from a Tax
      Authority provided in connection with establishing the Intended Tax Treatment of the relevant transaction expressly provides that such extension is reasonably necessary to preserve the related Intended Tax Treatment, such opinion, memorandum or
      ruling to be reasonably acceptable to Clover, based on advice of Clover’s relevant Tax Advisor; provided, that such extension shall only be available if the potential Tax cost to Moon of
      not receiving such extension with respect to such transaction would be more than $2,000,000.

     

    
      8

      
        

    

    “SpinCo Taxes” means, without duplication, and after accounting for any adjustment pursuant
      to a Final Determination, (a) any Income Taxes (other than Moon Consolidated Taxes) for any Post-Distribution Period of (i) Moon or any member of the Moon Group attributable to assets or activities of the SpinCo Business, as determined pursuant to Section 3.2, or (ii) SpinCo or a member of the SpinCo Group, but excluding in either case any Taxes included in clauses (b)(i)(B), (d) and (f) of the definition of Moon
      Taxes, (b) any Other Taxes of (i) Moon or any member of the Moon Group attributable to assets or activities of the SpinCo Business, as determined pursuant to Section 3.2,
      and (ii) SpinCo or a member of the SpinCo Group, but excluding in either case any Taxes included in clauses (c)(i), (f) and (g) of the definition of Moon Taxes, (c) subject to Section

          3.1(c), any Taxes attributable to a SpinCo Tainting Act, (d) any Taxes attributable to an Extraordinary Transaction effected after the Distribution on the Distribution Date by SpinCo or a member of the SpinCo Group, (e) any Taxes as a
      result of the issuance of any equity compensation of Clover to Clover employees to the extent such equity compensation is described in the Tax Representation Letters and addressed in the Moon Tax Opinion, and (f) any Taxes taken into account in
      computing amounts payable pursuant to Section 2.8 of the Separation and Distribution Agreement; provided, that SpinCo Taxes shall not include any Taxes included in clause (e) of the
      definition of Moon Taxes.

     

    “Straddle Period” means any Tax Period that begins on or before and ends after the
      Distribution Date.

     

    “Subsidiary” means, with respect to any Person (a) a corporation more than fifty percent
      (50%) of the voting or capital stock of which is owned, directly or indirectly, by such Person or (b) a partnership, joint venture, association, joint stock company, trust, unincorporated organization or other entity in which such Person, directly or
      indirectly, owns any of the equity economic interests thereof or for which such Person, directly or indirectly, has the power to elect or direct the election of any of the members of the governing body or with respect to which such Person otherwise
      has control (e.g., as the managing partner or managing member of a partnership or limited liability company, as the case may be).

     

    “Tax” means (a) all taxes, charges, fees, duties, levies, imposts, or other similar
      assessments, imposed by any governmental authority or political subdivision thereof, including, but not limited to, net income, gross income, gross receipts, excise, real property, personal property, sales, use, service, service use, license, lease,
      capital stock, transfer, recording, franchise, business organization, occupation, premium, windfall profits, profits, customs, duties, payroll, wage, withholding, social security, employment, unemployment, insurance, severance, workers compensation,
      excise, stamp, alternative minimum, estimated, value added, ad valorem, import, export, unclaimed property, escheat and other taxes, charges, fees, duties, levies, imposts, or other similar assessments, or any interest, penalties or additions to tax,
      or additional amounts, in respect of any of the foregoing and (b) all liabilities in respect of any items described in clauses (a) or (b) payable by reason of transferee or successor liability, contract, operation of Law, or Treasury Regulations
      Section 1.1502-6(a) (or any predecessor or successor thereof or any analogous provision of Tax Law).

     

    
      9

      
        

    

    “Tax Advisor” means a tax counsel or accountant of recognized standing in the relevant
      jurisdiction that is reasonably acceptable to the Parties.

     

    “Tax Attribute” means a net operating loss, net capital loss, investment credit, foreign tax
      credit, excess charitable contribution, general business credit or any other Tax Item that could reduce a Tax or create a Tax Benefit.

     

    “Tax Authority” means, with respect to any Tax, the governmental entity or political
      subdivision thereof that imposes such Tax and the agency (if any) charged with the collection of such Tax for such entity or subdivision.

     

    “Tax Benefit” means any refund, credit, or other reduction in Tax payments, in each case, as
      determined on a “with and without” basis, that is actually received or recognized by a Party or any member of its Group.  For the avoidance of doubt, the term “Tax Benefit” shall include any such benefit actually received or recognized as a result of
      a step-up in Tax basis or an increase in any Tax Attribute.

     

    “Tax Item” means any item of income, gain, loss, deduction, expense, or credit, or other
      attribute that may have the effect of increasing or decreasing any Tax.

     

    “Tax Law” means any Law relating to any Tax.

     

    “Tax Materials” means any opinion of a Tax Advisor, ruling from a Tax Authority or any
      submission, certificate, representation letter or other material delivered by the Parties to such Tax Advisor or Tax Authority in connection with the rendering by such Tax Advisor of such opinion and the issuance by such Tax Authority of such ruling,
      including the Clover Tax Opinion, the Moon Tax Opinion and the Tax Representation Letters, in each case, that is received in connection with the Intended Tax Treatment of the transactions set forth therein.

     

    “Tax Period” means, with respect to any Tax, the period for which the Tax is reported as
      provided under the Code or other applicable Tax Law.

     

    “Tax Proceeding” means an audit, review, examination, or any other administrative or judicial
      proceeding with the purpose or effect of re-determining Taxes (including any administrative or judicial review of any claim for refund).

     

    “Tax Records” means any Tax Returns, Tax Return work papers, documentation relating to any
      Tax Proceedings, and any other books of account or records (whether or not in written, electronic or other tangible or intangible forms and whether or not stored on electronic or any other medium) required to be maintained under the Code or other
      applicable Tax Laws or under any record retention agreement with any Tax Authority.

     

    
      10

      
        

    

    “Tax Representation Letters” has the meaning set forth in the Merger Agreement.

     

    “Tax Return” means any report of Taxes due, any claim for refund of Taxes paid, any
      information return with respect to Taxes, or any other similar report, statement, declaration, or document required to be filed under the Code or other Tax Law, including any attachments, exhibits, or other materials submitted with any of the
      foregoing, and including any amendments or supplements to any of the foregoing.

     

    “Transaction Documents” has the meaning set forth in the Separation and Distribution
      Agreement.

     

    “Transfer Tax” means any sales, use, privilege, transfer (including real property transfer),
      intangible, recordation, registration, documentary, stamp, duty or similar Tax imposed with respect to the Separation Transactions.

     

    “Treasury Regulations” means the regulations promulgated from time to time under the Code.

     

    “Unqualified Tax Opinion” means an unqualified “will” opinion of a Tax Advisor, on which each
      of the Parties may rely to the effect that a transaction will not affect the Intended Tax Treatment or otherwise cause any Separation Transaction or the Merger to fail to qualify for its Intended Tax Treatment.  Any such opinion must assume that the
      Contribution and Distribution would have qualified for the Intended Tax Treatment if the transaction in question did not occur and may assume the accuracy of, and may rely upon, customary assumptions, representations and undertakings reasonably
      satisfactory to Moon and Clover and SpinCo contained in certificates delivered by an officer of Moon, Clover, or SpinCo, as the case may be.

     

    INDEX OF DEFINED TERMS

     

    
      	
              Term

            	
              Section

            
	
              Agreement

            	
              Preamble

            
	
              Carryback

            	
              2.5(a)

            
	
              Chosen Courts

            	
              13.9(b)

            
	
              Clover

            	
              Preamble

            
	
              Distribution

            	
              Recitals

            
	
              Exchange Offer

            	
              Recitals

            
	
              Indemnified Party

            	
              4.2(a)

            
	
              Indemnifying Party

            	
              4.2(a)

            
	
              Independent Arbiter

            	
              11.2

            
	
              Merger

            	
              Recitals

            
	
              Merger Agreement

            	
              Recitals

            
	
              Merger Sub

            	
              Recitals

            
	
              Moon

            	
              Preamble

            
	
              Moon LuxCo

            	
              Preamble

            
	
              Moon Ordinary Shares

            	
              Recitals

            
	
              Notified Action

            	
              7.4

            
	
              One-Step Spin-Off

            	
              Recitals

            
	
              Parties

            	
              Preamble

            
	
              Party

            	
              Preamble

            
	
              Past Practice

            	
              2.3(a)

            
	
              Post-Distribution Ruling

            	
              7.3(a)

            
	
              Refund Party

            	
              5.1(a)

            
	
              Retention Date

            	
              8.5

            
	
              Separation and Distribution Agreement

            	
              Recitals

            
	
              SpinCo

            	
              Preamble

            
	
              SpinCo Common Stock

            	
              Recitals

            

    

    

    

    
      11

      
        

    

    ARTICLE II

     

    Preparation and Filing of Tax Returns

     

    Section 2.1          Consolidated Returns.
    

     

    (a)         Moon shall prepare and file all Moon
          Consolidated Returns, and shall, subject to Section 4.1(a), pay all Taxes shown to be due and payable on such Tax Returns.

     

    (b)         Clover shall prepare and file all Clover
          Consolidated Returns, and shall, subject to Section 4.1(a), pay all Taxes shown to be due and payable on such Tax Returns.

     

    Section 2.2          Separate Entity Tax Returns.
    

     

    (a)         Moon shall prepare and file (or shall
          cause to be prepared and filed) any Separate Entity Tax Returns required to be filed by, or with respect to, any member of the Moon Group, and shall, subject to Section 4.1(a),
          pay, or cause the applicable Moon Entity to pay, all Taxes shown to be due and payable on such Tax Returns.

     

    (b)         Except as set forth in Section 2.2(c), SpinCo shall prepare and file (or shall cause to be prepared and filed) any Separate Entity
          Tax Returns required to be filed by, or with respect to, any member of the SpinCo Group and shall, subject to Section 4.1(a), pay, or cause the applicable SpinCo
          Entity to pay, all Taxes shown to be due and payable on such Tax Returns.

     

    (c)         Moon shall (or shall cause a Moon Entity
          to) prepare any Tax Return required to be filed by, or with respect to, any member of the SpinCo Group for any Tax Period that ends before the Distribution Date and may elect to prepare (or cause a Moon Entity to prepare) any Tax Return required
          to be filed by, or with respect to, any member of the SpinCo Group for any Straddle Period if the numbers of days in such Straddle Period that are attributable to a Pre-Distribution Period equals or exceeds the number of days attributable to a
          Post-Distribution Period. At SpinCo’s timely prior written request and expense, Moon shall (or shall cause a Moon Entity to) prepare any other Tax Return required to be filed by, or with respect to, any member of the SpinCo Group for any Straddle
          Period. SpinCo shall file, or cause the applicable SpinCo Entity to file, any such Tax Returns and, subject to Section 4.1(a), pay, or cause the applicable SpinCo
          Entity to pay, all Taxes shown to be due and payable on such Tax Returns.

     

    Section 2.3          Tax Reporting Practices.
    

     

    (a)         Past Practices.  With respect to any Tax Return for which a Party is responsible for preparing such Tax Return in accordance with the terms of this Agreement (unless the items reported on such Tax Return could not
          reasonably be expected to affect Tax Items reported on any Tax Return filed by the other Party or members of its Group), such Tax Return shall be prepared in accordance with the practices, accounting methods, elections or conventions applied in
          respect of any applicable Tax Item for Pre-Distribution Periods, as modified by the remainder of this Section 2.3(a)
          (“Past Practice”).  To the extent any Tax Items are not covered by Past Practice, or the Parties jointly determine that variance from Past Practice is required by applicable Tax Law
          (including as a result of a determination that there is not “substantial authority” for such position if reported in accordance with Past Practice), subject to the review rights described in Section 2.4, the Tax Return shall be prepared in the manner reasonably determined by the Party responsible for preparing such Tax Return in accordance with the terms of this Agreement, following good faith
          consultation with the other Party.

     

    
      12

      
        

    

    (b)         Reporting of Separation Transactions.  The Tax treatment of the Separation Transactions reported on any Tax Return (whether such Tax Return is for a Pre-Distribution Period or a Post-Distribution Period) shall be
          consistent with (i) the Intended Tax Treatment and (ii) the treatment thereof in any opinion or memorandum delivered in connection with the documentation thereof, which has been delivered as of the Distribution Date.  The Tax treatment of the
          Separation Transactions reported on any Tax Return for which SpinCo is responsible for preparing in accordance with the terms of this Agreement shall be consistent with that on any Tax Return filed or to be filed by Moon or any member of the Moon
          Group or caused or to be caused to be filed by Moon, to the extent that SpinCo has knowledge of such reporting. In furtherance of the foregoing, Moon shall, at least thirty (30) Business Days prior to the Due Date of any applicable Tax Return,
          provide to SpinCo, to the extent Moon has not previously made available, such information with respect to the Intended Tax Treatment and otherwise with respect to the intended tax treatment of the Separation Transactions as will enable SpinCo to
          file any Tax Return it is responsible for preparing in accordance with the terms of this Agreement. If SpinCo determines, in consultation with Moon and their respective Tax Advisors that there is no “substantial authority” for such reporting
          position, such disputed item (or items) shall be referred for resolution in accordance with Article XI. In the event that the resolution of such disputed item (or items) with respect to
          a Tax Return is inconsistent with such Tax Return as filed, the Parties shall, as promptly as practicable, amend the applicable Tax Returns to properly reflect the final resolution of the disputed item (or items).

     

    Section 2.4          Right to Review Tax Returns.
    

     

    (a)         Review of Moon-Prepared Tax Returns with Separate SpinCo Tax Liability.  Except with respect to Moon Consolidated Returns, which shall be governed by Section 2.4(d), Moon shall, at least thirty (30) Business Days prior to the Due Date for such Tax Return, or as soon thereafter as reasonably practical, submit to SpinCo and Clover
          a draft of any Tax Return Moon is required or permitted to file under this Article II to the extent such Tax Return reflects
          a Tax liability reasonably expected to be borne by SpinCo or Clover (or a member of their respective Groups).  Moon shall consider in good faith any reasonable changes to such Tax Return submitted by Clover and shall, absent written consent of
          Clover (not to be unreasonably withheld, delayed or conditioned), make any such changes with respect to an applicable Tax Item to the extent the relevant Tax Item would reasonably be expected to give rise to a Tax liability (including a liability
          under the provisions of this Agreement) for SpinCo or Clover (or a member of their respective Groups) for any Tax Period and such changes are submitted no later than fifteen (15) Business Days prior to the Due Date for such Tax Return (or, in the
          case of draft Tax Return delivered later than thirty (30) Business Days prior to the Due Date, as soon thereafter as reasonably practical, but in no event later than five (5) Business Days prior to the Due Date).

     

    
      13

      
        

    

    (b)         Review of SpinCo-Prepared Tax Returns with Separate Moon Tax Liability.  Except with respect to Clover Consolidated Returns, which shall be governed by Section 2.4(d), SpinCo shall, at least thirty (30) Business Days prior to the Due Date for such Tax Return, or as soon thereafter as reasonably practical, submit to Moon a draft of
          each Tax Return it is required or permitted to file under this Article II to the extent such Tax Return reflects a Tax
          liability reasonably expected to be borne by Moon.  SpinCo shall consider in good faith any reasonable changes to such Tax Return submitted by Moon and shall, absent written consent of Moon (not to be unreasonably withheld, delayed or
          conditioned), make any such changes with respect to an applicable Tax Item to the extent the relevant Tax Item would reasonably be expected to give rise to a Tax liability (including a liability under the provisions of this Agreement) for Moon
          (or a member of the Moon Group) for any Tax Period and such changes are submitted no later than fifteen (15) Business Days prior to the Due Date for such Tax Return (or, in the case of draft Tax Return delivered later than thirty (30) Business
          Days prior to the Due Date, as soon thereafter as reasonably practical, but in no event later than five (5) Business Days prior to the Due Date).

     

    (c)         Dispute Mechanics.  In the event any item for which proper notice of a dispute was given pursuant to Section 2.4(a) or Section 2.4(b) was not finally resolved and agreed upon in
          accordance with the provisions thereof, the applicable Tax Return shall be filed or caused to be filed as prepared by the Party responsible for preparing such Tax Return in accordance with the terms of this Agreement prior to the Due Date, and
          such disputed item (or items) shall be referred for resolution in accordance with Article XI.  In the event that the
          resolution of such disputed item (or items) with respect to a Tax Return is inconsistent with such Tax Return as filed, the Party responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement (with cooperation
          from the other Party) shall, as promptly as practicable, amend such Tax Return to properly reflect the final resolution of the disputed item (or items).  In the event that the amount of Taxes shown to be due and owing on a Tax Return is adjusted
          pursuant to applicable dispute resolution procedures, proper adjustment shall be made to the amounts previously paid or required to be paid in a manner that reflects such resolution.

     

    (d)         Review of Consolidated Returns.  With respect to all Moon Consolidated Returns and Clover Consolidated Returns for the taxable year which includes the Distribution Date, Moon or Clover, as applicable shall use the closing
          of the books method under Treasury Regulation Section 1.1502-76, unless otherwise agreed by Moon and Clover, with respect to the determination of any Tax liability. Moon shall provide a draft, prepared in a manner that is consistent with Past
          Practice, of the portions of any Moon Consolidated Return that reflects a Tax liability reasonably expected to be borne by SpinCo or Clover (or a member of their respective Groups) to SpinCo for its review and comment at least thirty (30)
          Business Days prior to the Due Date for such Moon Consolidated Return; provided, however, that nothing herein shall prevent Moon from timely filing any such Moon Consolidated Return; provided, further, Moon shall not be required to provide such draft if it determines in its sole discretion to waive any
          liability SpinCo and Clover may have in respect of such Tax liability and agrees such Tax shall not be treated as a SpinCo Tax.  Clover shall provide a draft, prepared in a manner that is consistent with Past Practice, of the portions of any
          Clover Consolidated Return that reflects a Tax liability reasonably expected to be borne by Moon (or a member of the Moon Group) to Moon for its review and comment at least thirty (30) Business Days prior to the Due Date for such Clover
          Consolidated Return, provided, however, that nothing herein shall prevent Clover from timely filing any such Clover Consolidated Return; provided,
          further, Clover shall not be required to provide such draft if it determines in its sole discretion to waive any liability Moon may have in respect of such Tax liability and agrees such
          Tax shall not be treated as a Moon Tax. Any disputes that the Parties are unable to resolve shall be resolved pursuant to Article XI.  In the event that any dispute is not resolved (whether pursuant to good faith negotiations among the Parties
          prior to the Due Date for the filing of any Moon Consolidated Return or Clover Consolidated Return, such Moon Consolidated Return or Clover Consolidated Return, as applicable, shall be timely filed by the relevant Party, and the Parties agree to
          amend such Moon Consolidated Return or Clover Consolidated Return, as applicable, as necessary to reflect the resolution of such dispute in a manner consistent with such resolution.

     

    
      14

      
        

    

    Section 2.5          Carrybacks and Amended Tax
            Returns. 

     

    (a)         Carrybacks. Except to the extent otherwise consented to by Moon in writing or prohibited by applicable Law, SpinCo (or the appropriate member of the
          SpinCo Group) shall elect to relinquish, waive or otherwise forgo the carryback of any loss, credit or other Tax Attribute from any Post-Distribution Period to any Pre-Distribution Period or Straddle Period with respect to members of the SpinCo
          Group (a “Carryback”).   In the event that SpinCo (or the appropriate member of the SpinCo Group) is prohibited by applicable Law to relinquish, waive or otherwise forgo a Carryback (or
          Moon consents to a Carryback), Moon shall cooperate with SpinCo, at SpinCo’s expense, in seeking from the appropriate Tax Authority such Refund as reasonably would result from such Carryback, to the extent that such Refund is directly
          attributable to such Carryback, and shall pay over to SpinCo the amount of such Refund within ten (10) Business Days after such Refund is received; provided, however, that SpinCo shall indemnify and hold the members of the Moon Group harmless from and against any and all collateral Tax consequences resulting from or caused by any such Carryback, including, without
          limitation, the loss or postponement of any benefit from the use of Tax Attributes generated by a member of the Moon Group if (i) such Tax Attributes expire unutilized, but would have been utilized but for such Carryback, or (ii) the use of such
          Tax Attributes is postponed to a later taxable period than the taxable period in which such Tax Attributes would have been utilized but for such Carryback. Notwithstanding the foregoing, the second sentence of this Section 2.5(a) shall not apply to any Refund of Moon Consolidated Taxes.

     

    (b)         Amended Tax Returns.  Except as provided in Section 2.3(b), Section 2.4(c) or Section 2.4(d) to reflect the resolution of any dispute pursuant to Article XI, any amended Tax Return with
          respect to any member of the SpinCo Group, or any Mixed Business Tax Return, may be made only (i) with respect to any Income Tax Return which includes Pre-Distribution Periods or any Tax Return if the applicable original Tax Return was filed
          before the Distribution Date, by Moon and (ii) with respect to any other Tax Return, by the Party responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement. Such Party shall not file or cause to be filed
          any such amended Tax Return without the prior written consent of the other Party, if such filing, assuming it is accepted, could reasonably be expected to change the Tax liability of such other Party (or any member of its Group) for any Tax
          Period, which consent shall not be unreasonably withheld, conditioned or delayed. If any Party permitted to make an amended Tax Return under this Section 2.5(b) is not permitted to file such amended Tax Return under applicable Law, such Party shall provide the amended Tax Return to the other Party which shall file (or cause to be filed) such
          amended Tax Return as promptly as reasonably practicable thereafter.

     

    
      15

      
        

    

    Section 2.6          Apportionment of Tax Attributes.
    

     

    (a)         Tax Attributes arising in a
          Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attribute will inure to) the members of the Moon Group and the members of the SpinCo Group in accordance with Moon’s historical practice (except as otherwise
          required by applicable Tax Law), the Code, Treasury Regulations, and any applicable state, local and non-U.S. Law, as determined by Moon in its reasonable discretion and consistent with Past Practice, as applicable.

     

    (b)         Moon shall in good faith (and without
          being required to undertake an attribute or similar study) advise Clover in writing of the portion, if any, of Tax Attributes, or other consolidated, combined or unitary attribute, which shall be allocated or apportioned to the members of the
          SpinCo Group under applicable Law.  Moon shall consult in good faith with SpinCo regarding such allocation of Tax Attributes and determinations as to basis and valuation, and shall consider in good faith any reasonable comments timely received
          from SpinCo. In the event that Clover disagrees with any such determination, Moon and Clover shall endeavor in good faith to resolve such disagreement, and, failing that, the allocations and apportionments under this Section 2.6(b) shall be determined in accordance with the dispute resolution provisions of Article XI as promptly as practicable. To the extent applicable Law requires any member of the Moon Group to make a payment to a member of the SpinCo Group, or
          any member of the SpinCo Group to make a payment to a member of the Moon Group, with respect to any Tax Attribute, or other consolidated, combined or unitary attribute, as a result of the Separation Transactions, such payment shall be made in
          accordance with the provisions of this Agreement; provided, however that if any such payment is made by a member of the Moon Group to a member of the SpinCo Group, a corresponding
          payment of an equal amount shall be made by the SpinCo Borrower to Moon LuxCo, and if any such payment is made by a member of the SpinCo Group to a member of the Moon Group, a corresponding payment of an equal amount shall be made by Moon LuxCo
          to the SpinCo Borrower.

     

    (c)         All members of the Moon Group, SpinCo
          Group and Clover Group shall prepare all Tax Returns and compute all Taxes for Post-Distribution Periods in accordance with the final allocation of Tax Attributes delivered under Section

              2.6(b), except as otherwise required by a Final Determination.  In the event of an adjustment to any Tax Attribute as a result of a Final Determination, Moon or SpinCo, as applicable, shall promptly notify the other Party in
          writing of such adjustment, and the reduction or increase in Tax Attributes shall be allocated to the Party to which such Tax Attribute was initially allocated pursuant to this Section

              2.6 and, if necessary, an appropriate adjustment payment shall be made by the applicable Party, consistent with the other provisions of this Agreement.

     

    (d)         For the avoidance of doubt, Moon shall
          not be liable to any member of the SpinCo Group or Clover Group for any failure of any determination under this Section 2.6 to be accurate under applicable Tax Law,
          provided such determination was made in good faith.

     

    
      16

      
        

    

    Section 2.7          Coordination. 

      Nothing in this Article II (including a Party’s timely payment of Taxes, or filing of a Tax Return, pursuant to the provisions
      hereof) shall limit a Party’s right to indemnification under the provisions of Article III of this Agreement. 

     

    ARTICLE III

     

    Allocation of Tax Liabilities

     

    Section 3.1          General Rule.
    

     

    (a)         Moon Liability.  Moon shall be liable for, and shall indemnify and hold harmless each member of the SpinCo Group (and, as applicable, the Clover Group) from and against, without duplication, (i) all Moon Taxes, (ii) all
          Taxes incurred by a member of the SpinCo Group or the Clover Group resulting from the breach by a member of the Moon Group of any of its representations, warranties or covenants hereunder, and (iii) any costs and expenses related to the foregoing
          (including reasonable attorneys’ fees and expenses).

     

    (b)         Clover Liability.  Clover and SpinCo shall be liable for, and shall indemnify and hold harmless each member of the Moon Group from and against, without duplication, (i) all SpinCo Taxes, (ii) all Taxes incurred by a
          member of the Moon Group by reason of the breach by a member of the SpinCo Group or the Clover Group of any of its representations, warranties or covenants hereunder and (iii) any costs and expenses related to the foregoing (including reasonable
          attorneys’ fees and expenses).

     

    (c)         Notwithstanding Section 3.1(a) and (b), any liability for any
          Taxes attributable to both a Moon Tainting Act and a SpinCo Tainting Act shall be shared by Moon and SpinCo according to relative fault.

     

    Section 3.2          Attribution of Taxes.
    

     

    (a)         General.  For all purposes of this Agreement, a Tax and any Tax Items shall be considered attributable to the SpinCo Business on the one hand and
          the Moon Business on the other (but not both) to the extent that such Tax and/or Tax Item would result if such Tax Return were prepared on a separate basis taking into account only the operations and assets of the SpinCo Business on the one hand
          and only the operations and assets of the Moon Business on the other hand (but not both), as applicable, which allocation shall, in respect of Income Taxes, be jointly determined by Moon and SpinCo in good faith and subject to dispute resolution
          under Article XI, (i) using Past Practices and (ii) applying the highest applicable statutory marginal corporate income Tax
          rate in effect for the applicable Tax Period.  With respect to any other Tax Items, Moon and SpinCo shall jointly determine in good faith consistent with Past Practices and subject to dispute resolution under Article XI, which Tax Items are properly attributable to assets or activities of the SpinCo Business and Moon Business, respectively (and in the case of a Tax
          Item that is properly attributable to both the SpinCo Business and the Moon Business, the allocation of such Tax Item between the SpinCo Business and the Moon Business).

     

    
      17

      
        

    

    (b)         Straddle Period Tax Allocation.  Moon and SpinCo shall take all actions necessary or appropriate to close the taxable year of SpinCo and each
          member of the SpinCo Group for all Tax purposes as of the close of the Distribution Date to the extent permissible or required under applicable Law.  If applicable Law does not require or permit SpinCo or any SpinCo Entity, as the case may be, to
          close its taxable year on the Distribution Date, then the allocation of Tax Items 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 SpinCo or the applicable member of the SpinCo Group as of the close of 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; provided, further, that real property and other property or similar periodic Taxes shall be apportioned on a per diem basis. In
          the case of any Income Tax payable under Section 951(a) of the Code or Section 951A(a) of the Code (or similar provisions of state or local Law) with respect to each member of the SpinCo Group that will be a controlled foreign corporation
          immediately after the Distribution within the meaning of Section 957 of the Code, for any Straddle Period the aggregate amount of such Tax allocable to the Pre-Distribution Period shall not exceed the aggregate amount that would have been payable
          by members of the Moon Group and the SpinCo Group if the taxable years of members of the Moon Group and the SpinCo Group ended at the end of the day on the Distribution Date (determined, for this purpose, taking into account each of the
          Separation Transactions but disregarding the Merger and any Extraordinary Transaction).

     

    (c)         Extraordinary Transactions.  Notwithstanding anything to the contrary in this Agreement, the Parties shall report any Extraordinary Transactions taking place on the Distribution Date after the Effective Time as occurring
          on the day after the Distribution Date pursuant to Treasury Regulations Section 1.1502-76(b)(1)(ii)(B) or any similar or analogous provision of state, local or non-U.S. Law.

     

    ARTICLE IV

     

    Tax Payments

     

    Section 4.1          Payment of Amounts Due.

     

    (a)         Payment of Liability with Respect to Tax Due.  Each Party allocated Taxes shown on a Tax Return to be filed in accordance with Article II and responsible for the payment of such Taxes under this Agreement shall, at least two (2) Business Days prior to the Due Date for filing any such Tax Return, pay such amount to the Party
          responsible for filing such Tax Return in accordance with the terms of this Agreement.  For the avoidance of doubt, however, the obligation described under this Section 4.1(a) shall not commence prior to the date the other Party first was given the opportunity to exercise any review rights available to it with respect to the relevant Tax
          Return (whether under Article II or otherwise) or the date any dispute with respect to such Tax Return is resolved pursuant
          to Section 2.4(c), nor shall interest accrue during any such time period.

     

    
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    (b)         Adjustments Resulting in Underpayments.  In the case of any adjustment pursuant to a Final Determination with respect to any Tax Return, the Party responsible for filing the applicable Tax Return in accordance with the
          terms of this Agreement shall pay (or cause to be paid) to the applicable Tax Authority when due any additional Tax due with respect to such Tax Return required to be paid as a result of such adjustment pursuant to such Final Determination.  Such
          Party shall compute the amount attributable to the SpinCo Group or the Moon Group (as the case may be) in accordance with this Agreement and SpinCo shall pay to Moon any amount due Moon (or Moon shall pay SpinCo any amount due SpinCo) under this
          Agreement no later than the later of (i) two (2) Business Days prior to the Due Date for payment and (ii) ten (10) Business Days after the date of receipt of a written notice and demand from such Party for payment of the amount due, accompanied
          by a statement detailing the Taxes paid and describing in reasonable detail the particulars relating thereto.  For the avoidance of doubt, however, the obligation described under this Section 4.1(b) shall not commence to the extent the other Party was not previously notified of the potential adjustment under the provisions of Article X, in which case the obligation shall accrue on the date of the other Party’s receipt of written notice and demand under clause (ii) of this Section 4.1(b), and interest shall accrue only from such later date.

     

    (c)         Discharge of Indemnity.  A Party (or any member of its Group) seeking indemnity under Article III
          shall provide written notice of, and a reasonable basis for, its claim to the other Party (or Parties, or any member of their respective Groups) from which it is seeking indemnification, and such other Party (or Parties, or the applicable member
          of their respective Groups) shall discharge its (or their) indemnification obligations, subject to Section 4.1(b),
          by paying the relevant amount within ten (10) Business Days of demand therefor.  If any Party (or any member of its Group) disputes in good faith the fact or the amount of its indemnification obligation, then no payment of the amount in dispute
          shall be required until any such good faith dispute is resolved in accordance with Article XI, but interest shall accrue
          from the date payment would otherwise have been due.

     

    Section 4.2          Treatment of Indemnification
            and Other Payments. 

     

    (a)         Any Tax indemnity payment required to be
          made by a Party responsible to make an indemnification payment pursuant to this Agreement (the “Indemnifying Party”) shall be reduced by any corresponding Tax Benefit to the indemnified
          Party (the “Indemnified Party”) actually realized or recognized during or prior to the taxable year in which the indemnification payment is made or during the two (2) subsequent taxable
          years.  For the avoidance of doubt, a Tax Benefit is treated as corresponding to a Tax indemnity payment to the extent the Tax Benefit realized is directly attributable to the same Tax Item (or adjustment of such Tax Item pursuant to a Final
          Determination) that gave rise to the Tax indemnity payment.

     

    (b)         Except as otherwise agreed between Moon
          and SpinCo and notwithstanding anything to the contrary herein, the Parties shall cause all indemnification payments under this Agreement to be made by Moon LuxCo to the SpinCo Borrower and by the SpinCo Borrower to Moon LuxCo.  To the extent
          permitted by applicable Tax Law, Moon and SpinCo agree to treat (and to cause each member of their respective Group to treat) any payment required by this Agreement (other than payments with respect to interest accruing after the Distribution
          Date) as either a contribution by Moon LuxCo to SpinCo or a distribution by SpinCo to Moon LuxCo, as the case may be, occurring immediately prior to the Separation Transaction pursuant to which SpinCo was distributed out of Moon LuxCo.

     

    
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    ARTICLE V

    

    

    Tax Refunds

     

    Section 5.1          Tax Refunds and Credits.
    

     

    (a)         Each Party (and its Affiliates) shall be
          entitled to, and the other Party shall, at the written request and expense of the first Party (such Party, the “Refund Party”), use commercially reasonable efforts to claim, all Refunds
          that relate to Taxes for which the Refund Party (or its Affiliates) is liable under Article III.  To the extent that a
          particular Refund of Taxes may be allocable to a Tax Period or reflected on a Tax Return with respect to which the Parties may share liability under this Agreement, the portion of such Refund to which each Refund Party will be entitled shall be
          determined by comparing the relative liability of such Refund Party for the Taxes shown on the applicable Tax Return, taking into account the facts as utilized for purposes of claiming such Refund.  Any Refund to which a Refund Party is entitled
          that is received by the other Party shall be paid to such Refund Party within ten (10) days of, in the case of a cash Refund, such other Party’s actual receipt of the Refund from the applicable Tax Authority or, in the case of any Refund that
          reduces or offsets Taxes otherwise payable by such other Party, the earlier of the Due Date for such Tax liability or the date such Tax liability is actually paid.

     

    (b)         To the extent that the amount of any
          Refund under this Section 5.1 is later reduced by a Tax Authority or pursuant to a Final Determination in a Tax Proceeding, such reduction shall be allocated to the
          Refund Party and, if necessary, an appropriate adjustment payment shall be made to the other Party, consistent with the other provisions of this Agreement.

     

    ARTICLE VI

     

    Deduction and Reporting of Employee Awards

     

    Section 6.1          Moon and SpinCo Income Tax
            Deductions in Respect of Certain Equity Awards and Compensation.  Unless otherwise required by applicable Law, solely the member of the Group for which the relevant individual is currently employed or, if such individual is
      not currently employed by a member of the Group, was most recently employed at the time of the vesting, exercise, disqualifying disposition, payment or other relevant taxable event, as appropriate, in respect of equity awards and other compensation
      shall be entitled to claim any Income Tax deduction in respect of such equity awards and other compensation on its respective Tax Return associated with such event; provided, that,
      notwithstanding the foregoing, Moon (or the applicable member of the Moon Group) shall be entitled to claim any Income Tax deduction associated with the exercise of either (x) an Adjusted Vested Moon Stock Option by any SpinCo Employee or Former
      SpinCo Employee or (y) an Adjusted Unvested Moon Stock Option by any Former SpinCo Employee, or associated with the settlement of a Moon RSU held by a Former SpinCo Employee. All capitalized terms used in this Section 6.1 and not otherwise defined in this Agreement shall have the meaning given to such term in the Employee Matters Agreement. 

     

    

    
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          ARTICLE VII

            

            Tax-Free Status

           

          Section 7.1          Representations and Warranties.

           

          (a)         SpinCo.  SpinCo 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 Clover, to the extent they both (i) are descriptive of the SpinCo Group at any time after the Distribution Time (including the
            business purposes for the Distribution described in the Tax Materials to the extent that they relate to the SpinCo Group and the plans, proposals, intentions and policies of the SpinCo Group after the Distribution Time), and (ii) relate to the
            actions or non-actions of the SpinCo Group to be taken (or not taken, as the case may be) after the Distribution Time, are, or, as applicable, will be, from the time presented or made through and including the Distribution Time (and thereafter
            as relevant) true, correct and complete in all respects, provided that notwithstanding anything to the contrary in this Agreement, Moon rather than
            SpinCo shall be responsible for any such representation, warranty or covenant at the time presented or made (and if applicable, through and including the Distribution Time).  Clover hereby represents and warrants or covenants and agrees, as
            appropriate, that (i) it has delivered complete and accurate copies of the Tax Materials to be prepared by Clover to Moon and (ii) the facts presented and the representations made in the Tax Materials, to the
            extent descriptive of the Clover Group at any time (including the plans, proposals, intentions and policies of the Clover Group at any time) are, or, as applicable, will be, from the time presented or made (and,
            if applicable, through and including the Distribution Time (and thereafter as relevant)), true, correct and complete in all respects.

           

          (b)         Moon.  Moon hereby represents and warrants, or covenants and agrees, as appropriate, that (i) it has delivered complete and accurate copies of the Tax Materials to be prepared by Moon to SpinCo
            and Clover and (ii) the facts presented and the representations made therein, to the extent descriptive of (A) the Moon Group at any time or (B) the SpinCo Group at any time at or prior to the Distribution Time (including, in each case, the
            business purposes for the Distribution described in the Tax Materials to the extent that they relate to the Moon Group at any time or the SpinCo Group at any time at or prior to the Distribution Time, and the plans, proposals, intentions and
            policies of the Moon Group at any time or the SpinCo Group at any time at or prior to the Distribution Time) are, or, as applicable, will be, from the time presented or made (and, if applicable, through and including the Distribution Time (and
            thereafter as relevant)), true, correct and complete in all respects.

           

          (c)         No Contrary Plan.  Each of Moon, SpinCo and Clover represents and warrants that neither it, nor any of its Subsidiaries, has any plan or intent to take any action which is inconsistent with any
            statements or representations made in the Tax Materials.

           

          (d)         Distribution Date.  Moon hereby agrees and covenants that the distribution of any SpinCo Entity that is treated as a corporation for U.S. federal Income Tax purposes to Moon LuxCo will occur at
            least one day prior to the Distribution Date.

           

          
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          (e)         Provision of Intended Tax Treatment Information. On or promptly following the Distribution Date, Moon shall provide to Clover detailed descriptions of those actions and transactions that would
            adversely affect the Intended Tax Treatment of those transactions addressed pursuant to clause (v) of the definition of Intended Tax Treatment.

           

          Section 7.2          Restrictions on SpinCo.  During the Restricted Period, SpinCo and Clover shall not (other than as
            expressly required under the Separation and Distribution Agreement):

           

          (a)         enter into any Proposed Acquisition Transaction, approve any Proposed Acquisition Transaction for any purpose, or facilitate in any manner or allow any Proposed Acquisition Transaction to occur with respect to SpinCo;

           

          (b)         merge or consolidate with any other Person (other than pursuant to the Merger) or liquidate or partially liquidate; or approve or allow any merger, consolidation, liquidation, or partial liquidation of
            any SpinCo Entity (other than pursuant to the Plan of Reorganization), including, in each case, any action that is treated as a liquidation for U.S. federal Income Tax purposes;

           

          (c)         approve or allow the discontinuance, cessation, or sale or other transfer (to an Affiliate or otherwise) of, or a material change in, any Active Business;

           

          (d)         approve or allow the sale, issuance, or other disposition (to an Affiliate or otherwise), directly or indirectly, of any share of, or other equity interest or an
            instrument convertible into an equity interest in, any of the Active Business Entities;

           

          (e)          in the case of the SpinCo Group (including any successors to any member of the SpinCo Group), sell or otherwise dispose of more than fifty
            percent (50%) percent of its consolidated gross assets, or approve or allow the sale or other disposition (including in any transaction treated for U.S. federal income Tax purposes as a sale, transfer or disposition) (to an Affiliate or
            otherwise) of more than fifty percent (50%) of its consolidated gross assets or more than fifty percent (50%) of the consolidated gross assets of any of the Active Business Entities (whether to an Affiliate or otherwise), in each case,
            excluding (A) sales in the ordinary course of business and measured based on fair market values as of the Distribution Date or (B) any transfers to a Person that is a disregarded entity separate from the transferor for federal income tax
            purposes and (C) sales or other dispositions of businesses listed on Schedule I (provided, that for purposes of this Section 7.2(e), a merger of SpinCo or one of its
            Subsidiaries with and into any Person that is not a wholly owned Subsidiary of SpinCo or Clover shall constitute a disposition of all of the assets of SpinCo or such Subsidiary);

           

          (f)          amend its certificate of incorporation (or other organizational documents), or take any other action or approve or allow the taking of any action, whether through a
            stockholder vote or otherwise, affecting the voting rights of SpinCo stock (including through the conversion of any capital stock into another class of capital stock);

           

          (g)         issue shares of a new class of non-voting stock;

           

          
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          (h)         purchase, directly or through any Affiliate, any of its outstanding stock;

           

          (i)          with respect to the Distribution, take any action or fail to take any action, or permit any member of the SpinCo Group to take any action or
            fail to take any action, that is inconsistent with any representation or covenant made in the Tax Materials; provided, that (i) this Section 7.2(i) shall not prohibit or prevent the sale or other disposition of the businesses
            listed on Schedule I and (ii) with respect to the Tax Materials that relate to items described in clause (v) of the definition of Intended Tax Treatment, this Section 7.2(i) shall only apply to actions that are SpinCo Tainting
            Acts; or

           

          (j)          take any action or permit any other member of the SpinCo Group to take any action (including any transactions with a third-party or any
            transaction with any Affiliate) that, is inconsistent with, or individually or in the aggregate (taking into account other transactions described in this Section 7.2) would be reasonably likely
            to adversely affect, the Intended Tax Treatment; provided, that (i) this Section 7.2(i) shall not prohibit or prevent the sale or other disposition of the businesses listed on Schedule I and (ii) with respect to items
            described in clause (v) of the definition of Intended Tax Treatment, this Section 7.2(j) shall only apply to actions that are SpinCo Tainting Acts.

           

          Section 7.3          Opinions, Rulings and Voluntary Disclosures.  SpinCo and Clover and their respective Affiliates shall be permitted to take the actions described in Section 7.2, if, prior to taking any such actions:

           

          (a)         SpinCo and Clover notify Moon that they desire to seek a private letter ruling from the IRS, or a ruling from another applicable Tax Authority that confirms that such action or actions will not
            adversely affect the Intended Tax Treatment, taking into account such actions and any other relevant transactions in the aggregate (a “Post-Distribution Ruling”),

            and Moon consents in writing to the pursuit of such Post-Distribution Ruling, which consent shall not be unreasonably withheld, conditioned or delayed, and which ruling (and any representations on which it is
            based) shall, once received, be in form and substance satisfactory to Moon in its discretion, which discretion shall be reasonably exercised in good faith to prevent the imposition on Moon, or responsibility for payment by Moon, of Distribution
            Taxes; or  

           

          (b)         SpinCo and Clover shall have received an Unqualified Tax Opinion that confirms that such action or actions will not adversely affect the Intended Tax Treatment, taking into account such actions and any
            other relevant transactions in the aggregate, in form and substance satisfactory to Moon in its discretion, which discretion shall be reasonably exercised in good faith to prevent the imposition on Moon, or responsibility for payment by Moon,
            of Distribution Taxes (including any representations or assumptions that may be included in such Unqualified Tax Opinion).

           

          
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          (c)         Moon’s evaluation of a Post-Distribution Ruling or Unqualified Tax Opinion may consider, among other factors, the appropriateness of any underlying assumptions, representations, and covenants made in
            connection with such Post-Distribution Ruling or Unqualified Tax Opinion. SpinCo shall (i) bear all costs and expenses of securing any such Post-Distribution Ruling or Unqualified Tax Opinion and (ii) reimburse Moon for all reasonable
            out-of-pocket costs and expenses that Moon may incur in good faith in pursuing or evaluating any such Post-Distribution Ruling or Unqualified Tax Opinion.  Except as provided in this Section 7.3,
            following the Effective Time, neither Clover, SpinCo nor any of their respective Subsidiaries shall seek any guidance from, initiate any communication with, the IRS or any other Tax Authority (whether written, verbal or otherwise) at any time
            concerning the Contribution, the Distribution or the Reorganization (including the impact of any transaction on the Contribution, the Distribution or the Reorganization) without the prior approval of Moon (such approval not to be unreasonably
            withheld, conditioned or delayed).

           

          Section 7.4          Procedures Regarding Opinions and Rulings. If SpinCo or Clover
            notifies Moon that it desires to take one of the actions described in Section 7.2 (a “Notified Action”), Moon shall, at SpinCo and Clover’s sole expense,
            cooperate with SpinCo and use its reasonable best efforts to seek to obtain a Post-Distribution Ruling or permit SpinCo or Clover, as applicable, to obtain an Unqualified Tax Opinion for the purpose of permitting SpinCo or Clover, as applicable
            to take the Notified Action unless Moon shall have waived the requirement to obtain such ruling or opinion.

           

          ARTICLE VIII

              

              Reporting, Cooperation and Record Retention

           

          Section 8.1          Assistance and Cooperation.

           

          (a)         The Parties shall cooperate (and cause the members of their respective Groups to cooperate) with each other and with each other’s representatives, including accounting firms
            and legal counsel, in connection with Tax matters relating to the Parties and their respective Groups including (i) preparation and filing of Tax Returns, (ii) determining the liability for and amount of any Taxes due (including estimated
            Taxes) or the right to and amount of any Refund, (iii) examinations of Tax Returns, and (iv) any Tax Proceeding.  Such cooperation shall include making all information and documents in such Party’s possession relating to the other Party and the
            members of its Group available to such other Party as provided in this Article VIII and the execution of any document (including the grant of any power of attorney or similar document) reasonably requested by another Party in connection
            with the filing of a Tax Return or a Refund claim of the Parties or any of the members of their respective Groups or any Tax Proceeding of any of the Parties or the members of their respective Groups.  Each Party shall make its employees,
            advisors, and facilities available, without charge, on a reasonable and mutually convenient basis in connection with the foregoing matters in a manner that does not interfere with the ordinary business operations of such Party.  The Parties
            shall use commercially reasonable efforts to provide any information or documentation requested by the other Party in a manner that permits the other Party (or its Affiliates) to comply with Tax Return filing deadlines or other applicable
            timing requirements.

           

          
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          (b)         Any information or documents provided under this Section 8.1 shall be kept confidential by the Party receiving the
            information or documents, except as may otherwise be necessary in connection with the filing of Tax Returns or in connection with any administrative or judicial proceedings relating to Taxes.  Notwithstanding any other provision of this
            Agreement or any other agreement, (i) no Party nor any of its Affiliates shall be required to provide another Party or any Affiliate thereof or any other Person access to or copies of any information or procedures (including the proceedings of
            any Tax Proceeding) other than information or procedures that reasonably relate to the Taxes (including any Taxes for which the first Party is liable under this Agreement), business or assets of the first Party or
            any of its Affiliates or are necessary to prepare Tax Returns for which the first Party is responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement and (ii) in no event shall any Party or its Affiliates
            be required to provide another Party, any of its Affiliates or any other Person access to or copies of any information if such action could reasonably be expected to result in the waiver of any Privilege.  In addition, in the event that a Party
            determines that the provision of any information to another Party or any of its Affiliates could be commercially detrimental, violate any Law or agreement or waive any Privilege, the first Party shall use reasonable best efforts to permit
            compliance with its obligations under this Section 8.1 in a manner that avoids any such harm or consequence.

           

          Section 8.2          Return Information.  SpinCo and Moon acknowledge that time is of the essence
            in relation to any request for information, assistance or cooperation made by Moon or SpinCo pursuant to Section 8.1 or this Section 8.2.  Each
            Party shall provide to the other Parties information and documents relating to its Group reasonably required by the other Parties to prepare Tax Returns.  Any information or documents a Party responsible for preparing a Tax Return in accordance
            with the terms of this Agreement requires to prepare such Tax Returns shall be provided in such form as such Party reasonably requests and in sufficient time for such Party to prepare such Tax Returns on a timely basis. 

           

          Section 8.3          Non-Performance.  If a Party (or any of its Affiliates) fails to comply with any of its obligations set
            forth in this Article VIII upon reasonable request and notice by the other Party (or any of its Affiliates) and such failure results in the imposition of additional Taxes, the non-performing Party shall be liable in full for such
            additional Taxes.

           

          Section 8.4          Costs.  Each Party shall devote the personnel and resources necessary in order to carry out this Article VIII and shall make
            its employees available on a mutually convenient basis to provide explanations of any documents or information provided hereunder.  Each Party shall carry out its responsibilities under this Article VIII at its own cost and expense.

           

          Section 8.5          Retention of Tax Records.  Each Party shall preserve and keep all Tax
            Records exclusively relating to the assets and activities of its Group for Pre-Distribution Periods, and Moon shall preserve and keep all other Tax Records relating to Taxes of the Groups for Pre-Distribution Periods, for so long as the
            contents thereof may become material in the administration of any matter under the Code or other applicable Tax Law, but in any event until the later of (i) the expiration of any applicable statutes of limitations, or (ii) seven (7) years after
            the Distribution Date (such later date, the “Retention Date”).  After the Retention Date, each Party may dispose of such Tax Records upon ninety (90) Business Days’ prior
            written notice to the other Party.  If, prior to the Retention Date, a Party reasonably determines that any Tax Records which it would otherwise be required to preserve and keep under this Section 8.5
            are no longer material in the administration of any matter under the Code or other applicable Tax Law and the other Party agrees, then such first Party may dispose of such Tax Records upon ninety (90) Business Days’ prior notice to the other
            Party.  The notified Party shall have the opportunity, at its cost and expense, to copy or remove, within such ninety (90) Business Day period, all or any part of such Tax Records.  If, at any time prior to the Retention Date, a Party
            determines to decommission or otherwise discontinue any computer program or information technology system used to access or store any Tax Records, then such Party may decommission or discontinue such program or system upon ninety (90) Business
            Days’ prior notice to the other Party and the other Party shall have the opportunity, at its cost and expense, to copy, within such ninety (90) Business Day period, all or any part of the underlying data relating to the Tax Records accessed by
            or stored on such program or system.

           

          
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          Section 8.6          Access to Tax Records.  The Parties and their respective Affiliates shall make available to each other for inspection and copying
            during normal business hours upon reasonable notice all Tax Records (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 Tax 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 under this Agreement.  To the extent any Tax Records are required to be or are otherwise transferred by the Parties or their respective Affiliates to any person other than an Affiliate, the Party or its respective
            Affiliate shall transfer such records to the other Party at such time.

           

          ARTICLE IX

            

            Tax Proceedings

           

          Section 9.1          Notice.  Within ten (10) Business Days after an Indemnified Party becomes aware of the commencement of a Tax Proceeding that may
            give rise to Taxes for which an Indemnifying Party is responsible pursuant to Article III, such Indemnified Party shall notify the Indemnifying Party of such Tax Proceeding, and thereafter shall
            promptly forward or make available to the Indemnifying Party copies of notices and communications relating to such Tax Proceeding.  The failure of the Indemnified Party to notify the Indemnifying Party of the commencement of any such Tax
            Proceeding within such ten (10) Business Day period or promptly forward any further notices or communications shall not relieve the Indemnifying Party of any obligation which it may have to the Indemnified Party under this Agreement except to
            the extent that the Indemnifying Party is materially prejudiced by such failure.

           

          Section 9.2          Control of Tax Proceedings.

           

          (a)          Moon Income Tax Returns.

           

          (i)         Moon shall be entitled to contest, compromise and settle in its sole discretion any adjustment to any Tax Item that is proposed, asserted or assessed in connection with any
            Tax Proceeding with respect to (A) any Moon Consolidated Return or (B) any Separate Entity Tax Return that relates solely to Taxes for which Moon is liable under this Agreement.

           

          
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          (ii)        If SpinCo Taxes are asserted in any Tax Proceeding otherwise controlled by Moon under this Section 9.2(a), Moon shall (i) keep SpinCo timely
            informed of the actions proposed to be taken by Moon with respect to such assertion in such Tax Proceeding, (ii) permit SpinCo to participate (at SpinCo’s cost and expense) in the aspects of such Tax Proceeding that relate solely to such SpinCo
            Taxes and (iii) not settle any aspect of such Tax Proceeding that relates to such SpinCo Taxes without the prior written consent of SpinCo, which consent shall not be unreasonably withheld, delayed or conditioned.

           

          (b)         Clover Income Tax Returns.

           

          (i)         Clover shall be entitled to contest, compromise and settle in its sole discretion any adjustment to any Tax Item that is proposed, asserted or assessed in connection with
            any Tax Proceeding with respect to (A) any Clover Consolidated Return or (B) any Separate Entity Tax Return that relates solely to Taxes for which SpinCo or Clover is liable under this Agreement.

           

          (ii)        If Moon Taxes are asserted in any Tax Proceeding otherwise controlled by Clover under this Section 9.2(b), Clover shall (i) keep Moon timely
            informed of the actions proposed to be taken by Clover with respect to such assertion in such Tax Proceeding, (ii) permit Moon to participate (at Moon’s cost and expense) in the aspects of such Tax Proceeding that relate solely to such Moon
            Taxes, and (iii) not settle any aspect of such Tax Proceeding that relates to such Moon Taxes without the prior written consent of Moon, which consent shall not be unreasonably withheld, delayed or conditioned.

           

          (c)         Separate Entity Tax Returns.

           

          (i)         Except as set forth in Section 9.2(a) and Section 9.2(b), Moon shall be
            entitled to contest, compromise and settle any adjustment to any Tax Item that is proposed, asserted or assessed in connection with any Tax Proceeding with respect to any Separate Entity Tax Return prepared by Moon or a Moon Entity pursuant to
            Section 2.2; provided, that to the extent that any aspect of such Tax Proceeding relates to SpinCo Taxes or would reasonably be expected to materially adversely affect the Tax position of
            SpinCo or any SpinCo Entity, or Clover or any Clover Entity, Moon shall (i) keep SpinCo informed in a timely manner of the actions proposed to be taken by Moon with respect to such aspects of such Tax Proceeding, (ii) permit SpinCo to
            participate (at SpinCo’s cost and expense) in such aspects of such Tax Proceeding, and (iii) not settle any such aspect of such Tax Proceeding without the prior written consent of SpinCo, which shall not be unreasonably withheld, delayed or
            conditioned.

           

          (ii)        Except as set forth in Section 9.2(a) and Section 9.2(b), SpinCo shall be entitled to contest, compromise
            and settle any adjustment to any Tax Item that is proposed, asserted or assessed in connection with any Tax Proceeding with respect to any Separate Entity Tax Return prepared by SpinCo or a SpinCo Entity pursuant to Section 2.2; provided, that to the extent that any aspect of such Tax Proceeding relates to Moon Taxes or would reasonably be expected to materially adversely affect the Tax position of Moon or any Moon Entity,
            SpinCo shall (i) keep Moon informed in a timely manner of the actions proposed to be taken by SpinCo with respect to such aspects of such Tax Proceeding, (ii) permit Moon to participate (at Moon’s cost and expense) in such aspects of such Tax
            Proceeding, and (iii) not settle any such aspect of such Tax Proceeding without the prior written consent of Moon, which shall not be unreasonably withheld, delayed or conditioned.

           

          
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          (d)         Distribution Taxes.  Notwithstanding the other provisions of this Section 9.2, Moon shall
            be entitled to contest, compromise and settle any Tax Proceeding relating to the Intended Tax Treatment or that would otherwise give rise to Distribution Taxes; provided, that to the extent that any aspect of such Tax Proceeding (i)
            would reasonably be expected to materially adversely affect the Tax position of SpinCo or a SpinCo Entity, or Clover or any Clover Entity, or (ii) Clover and SpinCo have previously acknowledged their potential liability under this Agreement for any Distribution Tax-Related Losses arising out of such Tax Proceeding in writing, Moon shall (A) keep SpinCo informed in a timely manner of the actions proposed to be taken by Moon with
            respect to such aspects of such Tax Proceeding, (B) permit SpinCo to participate (at SpinCo’s cost and expense) in such aspects of such Tax Proceeding, and (C) not settle any such aspect of such Tax Proceeding
            without the prior written consent of SpinCo, which shall not be unreasonably withheld, delayed or conditioned.

           

          (e)         Non-Income Tax Returns.  The Party responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement shall be entitled to contest,
            compromise and settle any adjustment that is proposed, asserted or assessed pursuant to any Tax Proceeding with respect to any Tax Return other than an Income Tax Return, provided, that to the extent that any aspect of such Tax
            Proceeding relates to Taxes for which the other Party is liable under this Agreement or would reasonably be expected to materially adversely affect the Tax position of the other Party, the first Party shall (i) keep the other Party informed in
            a timely manner of the actions proposed to be taken by the first Party with respect to such aspects of such Tax Proceeding, (ii) permit the other Party to participate (at such other Party’s cost and expense) in such aspects of such Tax
            Proceeding, and (iii) not settle any such aspect of such Tax Proceeding without the prior written consent of the other Party, which shall not be unreasonably withheld, delayed or conditioned.

           

          ARTICLE X

            

            Interest Payments

           

          Section 10.1        Interest Under This Agreement.  Anything herein to the contrary notwithstanding, to the extent an Indemnifying Party makes a payment
            of interest to an Indemnified Party under this Agreement with respect to the period from the date that the Indemnified Party made a payment of Tax to a Tax Authority to the date that the Indemnifying Party reimbursed the Indemnified Party for
            such Tax payment, the interest payment shall be treated as interest expense to the Indemnifying Party (deductible to the extent provided by law) and as interest income by the Indemnified Party (includible in income to the extent provided by
            law).  The amount of the payment shall not be adjusted to take into account any associated Tax Benefit to the Indemnifying Party or increase in Tax to the Indemnified Party.

           

          
            28

            
              

          

          ARTICLE XI

            

            Disagreements

           

          Section 11.1        Discussion.  The Parties mutually desire that collaboration will continue between them.  Accordingly, the Parties will, and will cause the respective members of their Groups to, use
            reasonable efforts to resolve via bilateral discussion all disagreements in respect of their respective rights and obligations under this Agreement.  In furtherance thereof, in the event of any dispute or disagreement between any member of the
            Moon Group and any member of the Clover Group or SpinCo Group as to the interpretation of any provision of this Agreement or the performance of the other Party’s obligations hereunder, representatives of each of the Parties, including members
            of their respective Tax departments, shall negotiate in good faith to resolve such dispute. The Parties agree that the dispute resolution procedures specified in this Article XI shall be the sole and exclusive procedures for the
            resolution of disputes; provided, however, that any Party may seek a preliminary injunction or other preliminary judicial relief in aid of arbitration before any court of competent jurisdiction if such action is necessary to avoid irreparable
            damage. Despite such action, the Parties shall continue to participate in good faith in the procedures specified in this Article XI.

           

          Section 11.2        Referral to Independent Arbiter.  In the event any dispute between the Parties as to any matter covered by this Agreement is not resolved by bilateral discussion, the Parties shall
            appoint, with respect to any matter requiring the determination of the Parties’ rights and obligations under this Agreement, a U.S. law firm of national standing or, with respect any other matter, an internationally recognized independent
            public accounting firm (in each case, the “Independent Arbiter”) to resolve such dispute.  In this regard, the Independent Arbiter shall make determinations with respect to the disputed items based
            solely on representations made by Moon, SpinCo and Clover and their respective representatives, and not by independent review, and shall function only as an expert and not as an arbitrator.  The Parties shall require the Independent Arbiter to
            resolve all disputes no later than thirty (30) days after the submission of such dispute to the Independent Arbiter, and agree that all decisions by the Independent Arbiter with respect thereto shall be final and conclusive and binding on the
            Parties.  The Independent Arbiter 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 Past Practices, except as otherwise required by
            applicable Law.  The Parties shall require the Independent Arbiter to render all determinations in writing and to set forth, in reasonable detail, the basis for such determination.  The fees and expenses of the Independent Arbiter shall be
            borne by the Parties based on the inverse of the percentage that the Independent Arbiter’s resolution of the disputed items (before such allocation) bears to the total amount of the disputed items as originally submitted to the Independent
            Arbiter (for example, if the total amount of the disputed items as originally submitted to the Independent Arbiter equals $1,000 and the Independent Arbiter awards $600 in favor of the first Party’s position, sixty percent (60%) of the fees and
            expenses of the Independent Arbiter would be borne by the other Party and forty percent (40%) of the fees and expenses of the Independent Arbiter would be borne by the first Party); provided, that if the matters referred to the
            Independent Arbiter cannot reasonably be reduced to monetary amounts (e.g., if such matters relate to the Parties’ rights and obligations under this Agreement) the Independent Arbiter shall make a good faith allocation of such fees and expenses
            based on the foregoing principle.

           

          
            29

            
              

          

          ARTICLE XII

            

            Term and Costs

           

          Section 12.1        Effective Date.

           

          (a)         Except as expressly set forth in this Agreement, as between Moon and SpinCo, this Agreement shall become effective upon the consummation of the
            Distribution, and as between the Moon, SpinCo and Clover, this Agreement shall become effective upon the consummation of the Merger.

           

          (b)         As of the date hereof, (i) all prior intercompany Tax allocation agreements or arrangements between one or more members of the Moon Group, on the one hand, and one or more
            members of the SpinCo Group, on the other hand, shall be terminated; and (ii) amounts due under such agreements as of the date hereof shall be settled as of the date hereof.  Upon such termination and settlement,
            no further payments by or to Moon or by or to SpinCo, with respect to such agreements shall be made, and all other rights and obligations resulting from such agreements between the Parties and their Affiliates shall cease at such time.

           

          Section 12.2        Survival.  The representations and warranties set forth in this Agreement shall each survive the Distribution and Merger.  The covenants and agreements set forth in this Agreement shall
            each survive until the full performance of all covenants and agreements set forth herein, in accordance with their terms.  Notwithstanding anything in this Agreement to the contrary, this Agreement shall remain in effect and its provisions
            shall survive for one year after the full period of all applicable statutes of limitation (giving effect to any extension, waiver or mitigation thereof) and, with respect to any claim hereunder initiated prior to the end of such period, until
            such claim has been satisfied or otherwise resolved.

           

          Section 12.3        Expenses.  Except as otherwise provided in this Agreement, each Party and its Affiliates shall bear their own expenses incurred in
            connection with preparation of Tax Returns, Tax Proceedings, and other matters related to Taxes under the provisions of this Agreement.

           

          Section 12.4        Payments.  Except as otherwise specified herein, any payment required to be made pursuant to this Agreement shall be made within sixty (60) days of notice thereof (including the
            reasonable basis of the demand therefor).  All payments required to be made between the Parties under this Agreement shall be made in immediately available funds.

           

          Section 12.5        Interest.  Any payment required to be made under this Agreement shall bear interest at the rate equal to the “prime” rate as
            published in the Wall Street Journal, Eastern Edition, for the period from and including the Due Date (in the case of any amount relating to payment of Taxes or filing of a Tax Return), or otherwise the
            date immediately following the date the obligation originally accrued (after accounting for any grace period), through and including the date of payment.

           

          
            30

            
              

          

          ARTICLE XIII

            

            General Provisions

           

          Section 13.1        Notices.  All notices and other communications among the Parties shall be in writing and shall be deemed to have been duly given (a) when delivered in person, (b) when delivered after
            posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (c) when delivered by FedEx or other nationally recognized overnight delivery service or (d) when delivered by email (so
            long as the sender of such email does not receive an automatic reply from the recipient’s email server indicating that the recipient did not receive such email), addressed as follows:

           

          If to Moon or, prior to the Distribution, to SpinCo, then to:

           

          Ingersoll-Rand plc

          170/175 Lakeview Dr.

          Airside Business Park, Swords, Co. Dublin, Ireland

            Attention: Evan M. Turtz

          

          

          
            	 	
                    Email:

                  	
                    Evan_Turtz@irco.com

                  

          

          

            with a copy (which shall not constitute notice) to:

           

          

          Paul, Weiss, Rifkind, Wharton & Garrison LLP

            1285 Avenue of the Americas

            New York, NY 10019

           

          

          
            	 	
                    Attention:

                  	
                    Jeffrey B. Samuels

                  

          

          Steven J. Williams

           

          
            	 	
                    Email:

                  	
                    jsamuels@paulweiss.com

                  

          

          swilliams@paulweiss.com

           

          If to Clover or, following the Distribution, to SpinCo, then to:

          

          

          Gardner Denver Holdings, Inc.

            222 East Erie Street, Suite 500

            Milwaukee, Wisconsin 53202

            Attention: Andy Schiesl

           

          

          Email: andy.schiesl@gardnerdenver.com
            

            

          

          
            31

            
              

          

          with a copy (which shall not constitute notice) to:

           

          

          Simpson Thacher & Bartlett LLP

            425 Lexington Avenue

            New York, NY 10017

           

          

          
            	 	
                    Attention:

                  	
                    Marni Lerner

                  

          

          Mark Pflug

          
             

            

            	 	
                    Email:

                  	
                    mlerner@stblaw.com; mpflug@stblaw.com

                  

          

          

          

          A Party may change the address for receiving notices under this Agreement by providing written notice of the change of address to the other Parties.

           

          Section 13.2        Assignment, Successors, Beneficiaries.  No Party may assign its rights or
            delegate its duties under this Agreement without the written consent of the other Parties, and any attempted assignment or delegation in breach of this Section 13.2 shall be null and void.  This
            Agreement shall be binding upon and inure to the benefit of the Parties hereto and their permitted successors (including but not limited to any successor of Moon or SpinCo succeeding to the Tax attributes of either under Section 381 of the Code) and assigns.  Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the parties specifically contemplated hereby, any rights
            or remedies under or by reason of this Agreement.

           

          Section 13.3        Waiver.  The Parties may waive a provision of this Agreement only by a writing signed by the Party intended to be bound by the waiver.  A Party is not prevented from enforcing any right,
            remedy or condition in the Party’s favor because of any failure or delay in exercising any right or remedy or in requiring satisfaction of any condition, except to the extent that the Party specifically waives the same in writing.  A written
            waiver given for one matter or occasion is effective only in that instance and only for the purpose stated.  A waiver once given is not to be construed as a waiver for any other matter or occasion.  Any enumeration of a Party’s rights and
            remedies in this Agreement is not intended to be exclusive, and a Party’s rights and remedies are intended to be cumulative to the extent permitted by law and include any rights and remedies authorized in law or in equity.

           

          Section 13.4        Severability.  If any provision of this Agreement or any Transaction Document, or the application of any provision to any Person or circumstance, is held invalid or unenforceable by any
            court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect.  The Parties further agree that if any provision contained herein is, to any extent, held invalid or unenforceable in any respect
            under the Laws governing this Agreement, they shall take any actions necessary to render the remaining provisions of this Agreement valid and enforceable to the fullest extent permitted by Law and, to the extent necessary, shall amend or
            otherwise modify this Agreement to replace any provision contained herein that is held invalid or unenforceable with a valid and enforceable provision giving effect to the intent of the Parties.

           

          
            32

            
              

          

          Section 13.5        Authority.  Each of the Parties represents to the other that (a) it has the corporate or other requisite power and authority to
            execute, deliver and perform this Agreement, (b) the execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate or other action, (c) it has duly and validly executed and delivered this Agreement,
            and (d) this Agreement is a legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights
            generally and general equity principles.

           

          Section 13.6        Further Assurances.  Moon will cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth in this Agreement or in any other
            Transaction Document to be performed by any member of the Moon Group.  SpinCo will cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth in this Agreement or in any other Transaction
            Document to be performed by any member of the SpinCo Group.  Each Party (including its permitted successors and assigns) further agrees that it will (a) give timely notice of the terms, conditions and continuing obligations contained in this Section 13.6 to all of the other members of its Group, and (b) cause all of the other members of its Group not to take any action inconsistent with such Party’s
            obligations under this Agreement, any other Transaction Document or the transactions contemplated hereby or thereby.

           

          Section 13.7        Integration.  This Agreement, together with each of the exhibits and schedules appended hereto constitutes the final agreement among the Parties, and is the complete and exclusive
            statement of the Parties’ agreement on the matters contained herein.  All prior and contemporaneous negotiations and agreements among the Parties with respect to the matters contained herein are superseded by this Agreement, as applicable.  In
            the event of any inconsistency between this Agreement and the Separation and Distribution Agreement, or any other agreements relating to the transactions contemplated by the Separation and Distribution Agreement, with respect to matters
            addressed herein, the provisions of this Agreement shall control.

           

          Section 13.8        Rules of Construction.  Unless the context of this Agreement otherwise requires:

           

          (a)          (A) Words of any gender include each other gender and neuter form; (B) words using the singular or plural number also
            include the plural or singular number, respectively; (C) derivative forms of defined terms will have correlative meanings; (D) the terms “hereof,” “herein,” “hereby,” “hereto,” “herewith,” “hereunder” and derivative or similar words refer to
            this entire Agreement; (E) the terms “Article,” “Section,” “Annex,” “Exhibit,” and “Schedule,” refer to the specified Article, Section, Annex, Exhibit, or Schedule  of this Agreement and references to “paragraphs” or “clauses” shall be to
            separate paragraphs or clauses of the Section or subsection in which the reference occurs; (F) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation,” (G) the word “or” shall be
            disjunctive but not exclusive, (H) provisions shall apply, when appropriate, to successive events and transactions.

           

          
            33

            
              

          

          (b)         References to documents (including this Agreement) or Laws shall be deemed to include references to such document or Law as amended, supplemented or modified from time to
            time in accordance with its terms and the terms hereof, as applicable, and in effect at any given time (and, in the case of any Law, to any successor provisions).

           

          (c)         References to any federal, state, local, non-U.S. or supranational statute or other Law shall include all regulations promulgated thereunder.

           

          (d)         References to any Person include references to such Person’s successors and permitted assigns, and in the case of any Governmental Authority, to any Person succeeding to its
            functions and capacities.

           

          (e)         The table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
            interpretation of this Agreement.

           

          (f)          The language used in this Agreement shall be deemed to be the language chosen by the Parties to express their mutual intent.  The Parties acknowledge that each Party and its
            attorney has reviewed and participated in the drafting of this Agreement and that any rule of construction to the effect that any ambiguities are to be resolved against the drafting Party, or any similar rule operating against the drafter of an
            agreement, shall not be applicable to the construction or interpretation of this Agreement.

           

          (g)         Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified.  If any action is to be taken or given on or
            by a particular calendar day, and such calendar day is not a Business Day, then such action may be deferred until the next Business Day.

           

          
            (h)         The phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if.”

             

            (i)          The term “writing,” “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.

             

            (j)          All monetary figures shall be in United States dollars unless otherwise specified.

             

            Section 13.9        Governing Law; Submission to Jurisdiction; Waiver of Trial.

             

            (a)          This Agreement, and all actions (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance
              hereof (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement) shall be governed by and
              construed in accordance with the Law of the State of Delaware, without regard to the choice of law or conflicts of law principles of any jurisdiction.  The Parties expressly waive any right they may have, now or in the future, to demand or
              seek the application of a governing Law other than the Law of the State of Delaware.

             

            
              34

              
                

            

            (b)         Each of the Parties hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Court of Chancery of the State of
              Delaware (or, if such court shall not have jurisdiction, any federal court of the United States of America sitting in Delaware, of if jurisdiction is not then available in such federal court, then in any Delaware state court siting in New
              Castle County) and any appellate court from any appeal thereof (the “Chosen Courts”) in any Action arising out of or relating to this Agreement or the Transaction Documents or
              the transactions contemplated hereby or thereby or for recognition or enforcement of any judgment relating thereto, and each of the Parties hereby irrevocably and unconditionally (i) agrees not to commence any such Action except in such
              courts, (ii) agrees that any claim in respect of any such Action may be heard and determined in the Chosen Courts, (iii) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to
              the laying of venue of any such Action in the Chosen Courts and (iv) waives, to the fullest extent permitted by Law, the defense of an inconvenient forum to the maintenance of such Action in the Chosen Courts.  Each of the Parties agrees that
              a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law.  Each Party irrevocably consents to service of process in the manner provided
              for notices in Section 13.1.  Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by Law.

             

          

          (c)         EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
            AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR
            RELATING TO THIS AGREEMENT, AND ANY OF THE TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.  EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
            EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (III) IT MAKES SUCH WAIVERS VOLUNTARILY AND
            (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 13.9(c).

           

          Section 13.10      Specific Performance.  In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions
            of this Agreement or any Transaction Document (except as otherwise provided therein), the Party who is, or is to be, thereby aggrieved shall have the right to specific performance and injunctive or other equitable relief (on an interim or
            permanent basis) in respect of its rights under this Agreement or such other Transaction Document.  The Parties agree that the remedies at law for any breach or threatened breach, including monetary damages, are inadequate compensation for any
            loss and that any defense in any Action for specific performance that a remedy at law would be adequate is waived.  Any requirements for the securing or posting of any bond with such remedy are waived by each of the Parties to this Agreement.

           

          
            35

            
              

          

          
            
              
                Section 13.11      Counterparts.  This Agreement may be
                    executed in two or more counterparts (including by electronic or .pdf transmission), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery of any signature page by
                    facsimile, electronic or .pdf transmission shall be binding to the same extent as an original signature page.

              

            

            

          

          
            Section 13.12      Moon or SpinCo Affiliates.  If, at any time, Moon, SpinCo or Clover acquires or forms one or more Affiliates that are includable in
              the Moon Group, SpinCo Group or Clover Group, as the case may be, such entities shall be subject to this Agreement and all references to the Moon Group, SpinCo Group or Clover Group, as the case may be, herein shall thereafter include a
              reference to such Affiliates.  For the avoidance of doubt, as of the Effective Time, this Agreement shall be binding on Clover and Clover shall be subject to the obligations and restrictions imposed on SpinCo hereunder, except to the extent that such obligations and restrictions are obligations of SpinCo as to periods prior to the Distribution Time, and any restrictions applicable to SpinCo shall apply to Clover mutatis mutandis.

             

            
              36

              
                

            

            IN WITNESS WHEREOF, each Party has caused this Agreement to be executed on its behalf by a duly authorized officer on the date first set forth above.

          

           

          

          
            
              

          

          
            	 	
                    
                      
                        
                          INGERSOLL-RAND PLC

                        

                      

                    

                  
	 	 
	
                     

                  	By: 	
                    /s/ Sara W. Brown

                  
	
                     

                  	
                    Name:

                  	
                    Sara W. Brown

                  
	
                     

                  	
                    Title:

                  	
                    Assistant Secretary

                  

          

          
            
              
                

                

                
                  
                    

                

                 

              

            

          

          
            	 	
                    INGERSOLL-RAND LUX 

                    

                    INTERNATIONAL HOLDING 

                    COMPANY S.À R.L.

                  
	 	 
	
                     

                  	By: 	
                    /s/ Pascal Campaignolle

                  
	
                     

                  	
                    Name:

                  	
                    Pascal Campaignolle

                  
	
                     

                  	
                    Title:

                  	
                    A-Manager

                  

             

            

          

          
            
              

          

          
            	 	
                    INGERSOLL-RAND SERVICES COMPANY

                  
	 	 
	
                     

                  	By: 	
                    /s/ Sara W. Brown

                  
	
                     

                  	
                    Name:

                  	
                    Sara W. Brown

                  
	
                     

                  	
                    Title:

                  	 Assistant Secretary 

             

            

          

          
            
              

          

          
            	 	
                    INGERSOLL-RAND U.S. HOLDCO, INC.

                  
	 	 
	
                     

                  	By: 	
                    /s/ Sara W. Brown

                  
	
                     

                  	
                    Name:

                  	
                    Sara W. Brown

                  
	
                     

                  	
                    Title:

                  	 Assistant Secretary 

          

           

          
            
              

          

          
            	 	
                    GARDNER DENVER HOLDINGS, INC.

                  
	 	 
	
                     

                  	By: 	
                    /s/ Andrew Schiesl

                  
	
                     

                  	
                    Name:

                  	
                    Andrew Schiesl

                  
	
                     

                  	
                    Title:

                  	
                    Vice President, General Counsel, Chief Compliance Officer and SecretaryExhibit 10.3

      

       

      

      EMPLOYEE MATTERS AGREEMENT

       

      by and among

       

      INGERSOLL-RAND PLC

       

      INGERSOLL-RAND U.S. HOLDCO, INC.

       

      and

       

      GARDNER DENVER HOLDINGS, INC.

       

      dated as of

       

      February 29, 2020

       

      
        
          

      

      TABLE OF CONTENTS

       

      	 	
              Page

            
	 	 
	
              ARTICLE I DEFINITIONS

            	
              1

            
	 	 
	
              ARTICLE II GENERAL PRINCIPLES

            	
              10

            
	 	 
	
              Section 2.01

            	
              Principles for Allocation of Liabilities

            	
              10

            
	
              Section 2.02

            	
              Other Terms

            	
              12

            
	
              Section 2.03

            	
              Interpretation; Construction

            	
              12

            
	
              Section 2.04

            	
              Survival

            	
              13

            
	
              Section 2.05

            	
              Termination

            	
              13

            
	 	 	 
	
              ARTICLE III EMPLOYEE BENEFITS

            	14
	 	 
	
              Section 3.01

            	
              Employment

            	14
	
              Section 3.02

            	
              Qualified Defined Contribution Plan

            	
              17

            
	
              Section 3.03

            	
              Qualified Defined Benefit Pension Plan

            	
              18

            
	
              Section 3.04

            	
              Retirement Benefits Funding Obligations

            	
              21

            
	
              Section 3.05

            	
              Moon UK Pension Plan

            	
              22

            
	
              Section 3.06

            	
              Nonqualified Plans

            	
              22

            
	
              Section 3.07

            	
              Short-Term Bonuses for Closing Plan Year; Earned but Unpaid Incentive Compensation

            	
              23

            
	
              Section 3.08

            	
              Health and Welfare Benefits

            	
              24

            
	
              Section 3.09

            	
              Workers’ Compensation

            	
              26

            
	
              Section 3.10

            	
              Vacation, Paid Time Off, and Sick Pay Liabilities

            	
              27

            
	
              Section 3.11

            	
              Severance

            	
              27

            
	
              Section 3.12

            	
              Preservation of Right to Amend or Terminate Plans

            	
              28

            
	
              Section 3.13

            	
              No Right to Employment

            	
              28

            
	
               

            	 	 
	
              ARTICLE IV EQUITY COMPENSATION AWARDS

            	
              28

            
	 	 
	
              Section 4.01

            	
              General Principles

            	
              28

            
	
              Section 4.02

            	
              Moon Stock Options

            	
              29

            
	
              Section 4.03

            	
              Restricted Stock Units

            	
              30

            
	
              Section 4.04

            	
              Performance Stock Units

            	
              31

            
	
              Section 4.05

            	
              Section 16(b) of the Exchange Act

            	
              32

            
	
              Section 4.06

            	
              Notional Shares

            	
              32

            
	
              Section 4.07

            	
              Liabilities for Settlement of Awards

            	
              33

            
	
              Section 4.08

            	
              Form S-8

            	
              33

            
	
              Section 4.09

            	
              Tax Reporting and Withholding for Equity-Based Awards

            	34

      

      

      
        
          

      

      
      	
              Section 4.10

            	
              Cooperation

            	
              34

            
	 	 	 
	
              ARTICLE V LABOR AND EMPLOYMENT MATTERS

            	
              34

            
	 	 
	
              Section 5.01

            	
              Collective Bargaining Agreements

            	
              34

            
	
              Section 5.02

            	
              WARN Obligations

            	
              35

            
	 	 	 
	
              ARTICLE VI RESTRICTIVE COVENANTS RELATING TO EMPLOYEES

            	
              35

            
	 	 
	
              Section 6.01

            	
              Non-Solicitation and No-Hiring by Clover

            	
              35

            
	
              Section 6.02

            	
              Non-Solicitation and No-Hire by Moon

            	36
	
              Section 6.03

            	
              Restrictive Covenants in Employment and Other Agreements

            	
              36

            
	
               

            	 	 
	
              ARTICLE VII EMPLOYER RECORDS

            	
              36

            
	 	 
	
              Section 7.01

            	
              Sharing of Information

            	
              36

            
	
              Section 7.02

            	
              Transfer of Personnel Records and Authorization

            	
              37

            
	
              Section 7.03

            	
              Access to Records

            	
              37

            
	
              Section 7.04

            	
              Maintenance of Records

            	
              37

            
	
              Section 7.05

            	
              Confidentiality

            	
              38

            
	
              Section 7.06

            	
              Cooperation

            	
              38

            
	 	 	 
	
              ARTICLE VIII REMEDIES

            	
              38

            
	 	 
	
              Section 8.01

            	
              Indemnification

            	
              38

            
	
              Section 8.02

            	
              Enforcement

            	
              38

            
	
               

            	 	 
	
              ARTICLE IX MISCELLANEOUS

            	
              38

            
	 	 
	
              Section 9.01

            	
              Relationship of Parties

            	
              38

            
	
              Section 9.02

            	
              Attorney-Client Privilege

            	
              39

            
	
              Section 9.03

            	
              Assignment

            	
              39

            
	
              Section 9.04

            	
              Rights of Third Parties

            	
              39

            
	
              Section 9.05

            	
              Captions

            	
              39

            
	
              Section 9.06

            	
              Severability of Provisions

            	
              39

            
	
              Section 9.07

            	
              Notices

            	
              39

            
	
              Section 9.08

            	
              Further Assurances

            	
              41

            
	
              Section 9.09

            	
              Amendment; Waiver

            	
              41

            
	
              Section 9.10

            	
              Governing Law

            	
              41

            
	
              Section 9.11

            	
              Consent to Jurisdiction; Waiver of Jury Trial

            	
              41

            
	
              Section 9.12

            	
              Entire Agreement

            	
              42

            
	
              Section 9.13

            	
              Counterparts

            	
              42

            
	
              Section 9.14

            	
              Expenses

            	
              42

            

      

      

      
        ii

        
          

      

      SCHEDULES

      

      

      	
              Schedule 2.01(b)(ii)

            	
              Assumed Contractor Agreements

            
	 	 
	
              Schedule 3.01(a)

            	
              SpinCo Employees

            
	 	 
	
              Schedule 3.03(c)

            	
              Pension Asset Transfer Methodology

            
	 	 
	
              Schedule 3.06(c)

            	
              Nonqualified Plans

            
	 	 
	
              Schedule 3.11(c)

            	
              Ordinary Severance Guidelines

            

      

      

      
        iii

        
          

      

      EMPLOYEE MATTERS AGREEMENT

       

      This EMPLOYEE MATTERS AGREEMENT (this “Agreement”) is made and entered
        into as of February 29, 2020 by and among Ingersoll-Rand plc, a public limited company incorporated in Ireland (“Moon”), Ingersoll-Rand U.S. HoldCo, Inc., a Delaware
        corporation (“SpinCo”), and Gardner Denver Holdings, Inc., a Delaware corporation (“Clover,” and together with Moon and SpinCo, the “Parties”).

       

      RECITALS

       

      WHEREAS, pursuant to that certain Separation and Distribution Agreement dated as of April 30, 2019, between Moon and SpinCo (the “Separation Agreement”), Moon and SpinCo have set out the terms on which, and the conditions subject to which, they wish to implement the Reorganization (as defined in the Separation Agreement) and the Distribution (as defined in the Separation Agreement);

       

      WHEREAS, pursuant to the Agreement and Plan of Merger (“Merger Agreement”),

        dated as of April 30, 2019, by and among Moon, SpinCo, Clover, and Charm Merger Sub Inc., a Delaware corporation and newly formed direct wholly owned Subsidiary of Clover (“Merger
            Sub”), immediately following the Distribution, Merger Sub will merge with and into SpinCo, and SpinCo Common Stock will be converted into Clover Common Stock, on the terms and subject to the conditions of the Merger Agreement (the “Merger”); and

       

      WHEREAS, in connection with the foregoing, the Parties have agreed to enter into this Agreement to allocate, among Moon, SpinCo, and Clover, Assets,
        Liabilities, and responsibilities with respect to certain employee compensation, benefits, labor, and other employee-related matters pursuant to the terms and conditions set forth herein.

       

      NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other valuable consideration, the receipt and sufficiency of which are
        hereby acknowledged, Moon, Clover, and SpinCo agree as follows:

       

      ARTICLE I

      DEFINITIONS

       

      As used in this Agreement, the following terms shall have the meanings indicated below:

       

      Action has the meaning specified in the Merger Agreement.

       

      Adjusted Unvested Moon Stock Option has the meaning specified in Section 4.02(b).

       

      Adjusted Vested Moon Stock Option has the meaning specified in Section 4.02(a).

       

      
        
          

      

      
      Affiliate has the meaning specified in the Separation Agreement.

       

      Aggregate Underfunding means the excess, if any, of the ARL over the ARA.

       

      Agreement has the meaning specified in the preamble hereto.

       

      ARA means the aggregate value of Assets actually transferred to Clover, a
        Clover Entity, a SpinCo Benefit Plan, or a SpinCo Benefit Plan’s related trust, in each case with respect to defined benefit pension obligations related to SpinCo Employees and Former SpinCo Employees, based on the “fair value of plan assets,”
        determined in accordance with the assumptions and methods used by Moon for the Audited Financial Statements (as defined in the Merger Agreement) prepared in accordance with Section 7.17 of the Merger Agreement; provided, that with respect to the SpinCo Pension Plan, the actual value of Assets shall be equal to the Final Pension Plan Transfer Amount.

       

      ARL means the aggregate gross Liabilities related to SpinCo Employees and
        Former SpinCo Employees with respect to (i) the SpinCo Deferred Compensation Plans that are not defined benefit plans, calculated based on the Employees’ aggregate account balances as reported on Moon’s financial records or other financial reports,
        (ii) retiree health and welfare benefits for such Employees, calculated on a “projected benefit obligation” (“PBO”) basis in accordance with Financial Accounting Standards
        Board Accounting Standards Codification No. 715: Compensation-Retirement Benefits (“ASC 715”) or similar financial reporting standard, and (iii) qualified and nonqualified
        defined benefit pension plan obligations for such employees, calculated on a PBO basis in accordance with ASC 715 or similar financial reporting standard, in the case of each of clauses (i), (ii), and (iii), determined as of the Distribution Date
        in accordance with the assumptions and methods used by Moon for the Audited Financial Statements prepared in accordance with Section 7.17 of the Merger Agreement.

       

      ASC 715 has the meaning specified in the definition of ARL.

       

      Assets has the meaning specified in the Separation Agreement.

       

      Benefit Management Records has the meaning specified in Section 7.02.

       

      Business Day has the meaning specified in the Merger Agreement.

       

      Cause means, with respect to a SpinCo Employee, any action by the SpinCo
        Employee involving willful malfeasance or willful gross misconduct having a demonstrable adverse effect on the Clover Group, (ii) substantial failure or refusal by the SpinCo Employee to perform his or her employment duties, which failure or
        refusal continues for a period of ten (10) days following delivery of written notice of such failure or refusal to the SpinCo Employee by Clover, (iii) the SpinCo Employee’s conviction of a felony under the laws of the United States or any state or
        district or any foreign jurisdiction, or, solely with respect to a SpinCo Employee who is not eligible to be a participant in the Moon Major Restructuring Severance Plan immediately prior to the Distribution Time, the SpinCo Employee’s commission
        or conviction of a felony under the laws of the United States or any state or district or any foreign jurisdiction or of any other crime that has a demonstrable adverse effect on the Clover Group, or (iv) any material violation of Clover’s code of
        conduct, as in effect from time to time.

       

      
        2

        
          

      

      Closing Plan Year means the calendar year in which the Effective Time
        occurs.

       

      Clover has the meaning specified in the preamble to this Agreement.

       

      Clover Actuary means an independent actuary selected by Clover.

       

      Clover Common Stock means the common stock, par value $0.01 per share, of
        Clover.

       

      Clover Entity means a member of the Clover Group.

       

      Clover FSA/DCA has the meaning specified in Section 3.08(d).

       

      Clover Group means Clover and each of its Subsidiaries (including,
        following the Effective Time, the SpinCo Entities).

       

      Clover Group Health Plan has the meaning specified in Section 3.08(b).

       

      Clover Group Retiree Health Plan has the meaning specified in Section 3.08(c).

       

      Clover Notional Shares has the meaning set forth in Section 4.06(b).

       

      Clover Post-Merger Share Value means the opening price per share of Clover
        Common Stock trading on the NYSE during Regular Trading Hours on the first Trading Day following the Effective Time.

       

      Clover Ratio means the quotient obtained by dividing the Clover
        Post-Merger Share Value by the Moon Pre-Distribution Share Value.

       

      Clover RSU has the meaning specified in Section 4.03(b).

       

      Clover Savings Plan has the meaning specified in Section 3.02(b).

       

      Clover Stock Option has the meaning specified in Section 4.02(b)(ii).

       

      Clover Stock Plan means the Gardner Denver Holdings, Inc. 2017 Omnibus Incentive Plan.

       

      COBRA has the meaning specified in Section 3.08(e).

       

      COBRA Participant has the meaning specified in Section 3.08(e).

       

      

      
        3

        
          

      

      Code means the Internal Revenue Code of 1986, as amended, or any successor
        federal income tax Law. Reference to a specific Code provision also includes any temporary or final regulation in force under that provision.

       

      Collective Bargaining Agreement means any collective bargaining agreement,
        labor agreement, or other written agreement to which Moon, Clover, or any of their respective direct or indirect Subsidiaries is a party with any labor union or works council, or its predecessors-in-interest or its constituent local unions.

       

      Contract has the meaning specified in the Separation Agreement.

       

      Delayed Transfer Employee has the meaning specified in Section 3.01(b).

       

      Designated Survival Period means the twelve (12) month period commencing
        on the Distribution Date.

       

      Destination Employer has the meaning specified in Section 3.01(b).

       

      Distribution Date has the meaning specified in the Separation Agreement.

       

      Distribution Time has the meaning specified in the Separation Agreement.

       

      Effective Time has the meaning specified in the Merger Agreement.

       

      Employee means, with respect to any entity, an individual who is
        considered, according to the payroll and other records of such entity, to be employed by such entity, whether active or inactive, on disability leave, or on other leave of absence.

       

      Employee Agreement means any individual employment, offer, retention,
        change in control, split-dollar life insurance, sale bonus, incentive bonus, severance, restrictive covenant, or other employment-related or individual compensatory agreement between any SpinCo Employee or Former SpinCo Employee and Moon or any of
        its Subsidiaries, as in effect immediately prior to the Distribution.

       

      Employee Reference Date means, with respect to a given Employee, the later
        of (x) the date on which the Merger Agreement was executed and (y) the first day of the Employee’s employment with the Moon Group or the SpinCo Group, as applicable, in his or her job position as of the Distribution Date.

       

      Employee Reference Period means, with respect to a given Employee, the
        period (A) commencing on the later of (x) the first day of the twelve (12) month period ending on the date on which the Merger Agreement was executed and (y) the first day of the Employee’s employment with the Moon Group or the SpinCo Group, as
        applicable, in his or her job position as of the Distribution Date and (B) ending on the Distribution Date.

       

      
        4

        
          

      

      Employment Claim means any actual or threatened lawsuit, arbitration,
        ERISA claim, or federal, state, or local judicial or administrative proceeding of whatever kind involving a demand by or on behalf of or relating to an employee, former employee, job applicant, intern or volunteer, independent contractor, leased
        employee, or anyone claiming to be an employee or joint employee, or by or relating to a collective bargaining agent of employees, or by or relating to any federal, state, or local government agency alleging Liability against an employer or against
        an employee pension, welfare, or other benefit plan, or an administrator, trustee, or fiduciary thereof.

       

      ERISA means the Employee Retirement Income Security Act of 1974, as
        amended. Reference to a specified provision of ERISA also includes any temporary or final regulations in force under that provision.

       

      Estimated Pension Plan Transfer Amount has the meaning specified in Section 3.03(c)(ii).

       

      FICA has the meaning specified in Section 3.01(h).

       

      Final Pension Plan Transfer Amount has the meaning specified in Section 3.03(c)(iv).

       

      Final Transfer Date has the meaning specified in Section 3.03(c)(v).

       

      Former Moon Group Employee means any former Employee of Moon or its
        Subsidiaries who has an employment end date on or before the Distribution Date, excluding all SpinCo Employees and Former SpinCo Employees.

       

      Former SpinCo Employee means any former Employee of Moon or its
        Subsidiaries whose last employment with Moon or its Subsidiaries before the Distribution Date was dedicated exclusively to the SpinCo Business.

       

      FUTA has the meaning specified in Section 3.01(h).

       

      Good Reason means, with respect to a SpinCo Employee, (i) a substantial
        diminution in the SpinCo Employee’s job responsibilities or a material adverse change in the SpinCo Employee’s title or status; provided, that performing the same job for a smaller organization following the Distribution shall not constitute Good
        Reason hereunder, (ii) a reduction of the SpinCo Employee’s then-current annual base salary or base wage rate, or target annual cash bonus; provided, however, that a reduction of the SpinCo Employee’s base salary or base wage rate, or target annual cash bonus, shall not constitute Good Reason hereunder if there is a
        broad-based reduction in the base salary or base wage rate, or target annual cash bonus, applicable to Employees in the Clover Group), or the failure to pay the SpinCo Employee’s base salary or wages or bonus when due, or the failure to maintain on
        behalf of the SpinCo Employee (and his or her dependents) benefits that are at least comparable in the aggregate to those prior to the completion of the Distribution, or, solely with respect to a SpinCo Employee who is not eligible to be a
        participant in the Moon Major Restructuring Severance Plan immediately prior to the Distribution Time, compensation and benefits that are at least comparable in the aggregate to those prior to the completion of the Distribution, or (iii) the
        relocation of the principal place of the SpinCo Employee’s employment by more than thirty five (35) miles from the SpinCo Employee’s principal place of employment immediately prior to the completion the Distribution; provided, that any of the
        events described in clauses (i) - (iii) above shall constitute Good Reason only if Clover fails to cure such event within thirty (30) days after receipt from the SpinCo Employee of written notice of the event which constitutes Good Reason; and
        provided, further, that such SpinCo Employee shall cease to have a right to terminate due to Good Reason on the ninetieth (90th) day following the later of the occurrence of the event or the SpinCo Employee’s knowledge thereof, unless
        the SpinCo Employee has given Clover notice thereof prior to such date.

       

      
        5

        
          

      

      Governmental Authority has the meaning specified in the Merger Agreement.

       

      Group 1 Employee means each Employee of Moon or its Subsidiaries whose
        employment was dedicated exclusively to the SpinCo Business during the Employee Reference Period and who was employed by a SpinCo Entity as of the Employee Reference Date.

       

      Group 2 Employee means each Employee of Moon or its Subsidiaries whose
        employment was dedicated exclusively to the SpinCo Business during the Employee Reference Period and who was not employed by a SpinCo Entity as of the Employee Reference Date.

       

      Group 3 Employee means each Employee of Moon or its Subsidiaries, other
        than a Group 1 Employee or Group 2 Employee, who provided 50% or more of his or her services to the SpinCo Business during the Employee Reference Period.

       

      Group 4 Employee means each Employee of Moon or its Subsidiaries who
        provided less than 50% of his or her services to the SpinCo Business during the Employee Reference Period but whom Moon nevertheless intends to be allocated to the SpinCo Business as a SpinCo Employee based on Moon’s analysis of FTE levels required
        for shared services.

       

      Initial Transfer Amount has the meaning specified in Section 3.03(c)(iii).

       

      Law has the meaning specified in the Merger Agreement.

       

      Liabilities has the meaning specified in the Separation Agreement.

       

      Merger has the meaning specified in the recitals of this Agreement.

       

      Merger Agreement has the meaning specified in the recitals of this
        Agreement.

       

      Moon has the meaning specified in the preamble to this Agreement.

       

      Moon Actuary means an independent actuary selected by Moon.

       

      
        6

        
          

      

      Moon Benefit Plan means a benefit and compensation plan, program, policy,
        practice, agreement, contract, arrangement (including employment agreements), or other obligation, whether or not in writing and whether or not funded, in each case, that is sponsored or maintained by, or required to be contributed to by, any Moon
        Entity and that is not exclusively for the benefit of one or more SpinCo Employees and/or Former SpinCo Employees, including, without limitation, (i) the Moon Group Health Plan, (ii) the Moon Savings Plan, (iii) the Moon Deferred Compensation
        Plans, (iv) the Moon Stock Plans, and (v) the Moon Pension Plan.

       

      Moon Common Stock has the meaning specified in the Merger Agreement.

       

      Moon Deferred Compensation Plans means any and all of the following: (i)
        the IR Executive Deferred Compensation Plan, (ii) the IR Executive Deferred Compensation Plan II, (iii) the Ingersoll-Rand Company Supplemental Employee Savings Plan, (iv) the Ingersoll-Rand Company Supplemental Employee Savings Plan II, (v) the
        Ingersoll-Rand Company Supplemental Pension Plan, (vi) the Ingersoll-Rand Company Supplemental Pension Plan II, (vii) the Ingersoll-Rand Company Key Management Supplemental Program, and (viii) the Ingersoll-Rand Company Elected Officer Supplemental
        Program.

       

      Moon Entity means a member of the Moon Group.

       

      Moon Equity Award means each Moon Stock Option, Moon RSU, and Moon PSU.

       

      Moon FSA/DCA has the meaning specified in Section 3.08(d).

       

      Moon Group has the meaning specified in the Separation Agreement.

       

      Moon Group Employee means an Employee of Moon or any of its Subsidiaries
        who is not a SpinCo Employee.

       

      Moon Group Health Plan means the Ingersoll-Rand

        Company Health and Welfare Benefit Plan.

       

      Moon Group Retiree Health Plan means the Ingersoll-Rand Company Retiree
        Medical Plan for Legacy Ingersoll-Rand Salaried and Non-Union Hourly Retirees.

       

      Moon Major Restructuring Severance Plan means the Ingersoll-Rand plc Major
        Restructuring Severance Plan.

       

      Moon Notional Share means any notional, phantom, or similar interest that
        settles in Moon Common Stock or in cash based upon the value of Moon Common Stock that has been awarded under, or otherwise notionally held pursuant to the terms of, any of the Moon Deferred Compensation Plans.

       

      
        7

        
          

      

      Moon Pension Plan means the Ingersoll-Rand Pension Plan Number One.

       

      Moon Post-Distribution Share Value means the opening price per share of
        Moon Common Stock trading on the NYSE during Regular Trading Hours on the Trading Day immediately following the Distribution Date.

       

      Moon Pre-Distribution Share Value means the closing price per share of
        Moon Common Stock on the Trading Day immediately prior to the Distribution Date based on “regular way” trading on the NYSE during Regular Trading Hours.

       

      Moon PSU means a performance stock unit award granted by Moon under the
        Moon Stock Plans before the Distribution Date.

       

      Moon Ratio means the quotient obtained by dividing the Moon
        Post-Distribution Share Value by the Moon Pre-Distribution Share Value.

       

      Moon RSU means an award of restricted stock units granted by Moon under
        the Moon Stock Plans before the Distribution Date.

       

      Moon Savings Plan means the Ingersoll-Rand
        Company Employee Savings Plan.

       

      Moon Stock Option means an award of stock options granted by Moon under
        the Moon Stock Plans before the Distribution Date.

       

      Moon Stock Plans means the Ingersoll-Rand plc Incentive Stock Plan of 2018, the Ingersoll-Rand plc Incentive Stock Plan of 2013, and the Ingersoll-Rand plc Incentive
        Stock Plan of 2007 (as amended and restated in 2010).

       

      Moon UK Pension Plan means the Ingersoll-Rand Holdings Limited Retirement
        Benefits Plan (1974).

       

      NYSE means the New York Stock Exchange.

       

      Parties has the meaning specified in the preamble to this Agreement.

       

      Person has the meaning specified in the Merger Agreement.

       

      PBO has the meaning specified in the definition of ARL.

       

      Plan means any plan, policy, arrangement, contract, or agreement providing
        compensation or benefits for any individual Employee or group of Employees, or the dependents or beneficiaries of any such Employee(s), whether formal or informal or written or unwritten, and including, without limitation, any means, whether or not
        legally required, pursuant to which any benefit is provided by an employer to any Employee or the beneficiaries of any such Employee. The term “Plan” as used in this Agreement does not include any contract, agreement, or understanding relating to
        settlement of actual or potential Employment Claims. Notwithstanding the foregoing, no Employee Agreement will constitute a Plan for purposes hereof.

       

      
        8

        
          

      

      Plan Payee means an individual who is entitled to payment of Plan benefits
        in his or her capacity as a beneficiary with respect to the benefits of a deceased participant in the Plan or an alternate payee under a qualified domestic relations order within the meaning of Section 414(p)(1)(A) of the Code and Section
        206(d)(3)(B)(i) of ERISA with respect to the benefits of a participant in the Plan.

       

      Privacy Contract means any contract entered into in connection with
        applicable privacy protection Laws or regulations.

       

      Regular Trading Hours means the period beginning at 9:30 A.M., New York
        City time, and ending at 4:00 P.M., New York City time.

       

      Representative has the meaning specified in the Merger Agreement.

       

      Revised Pension Plan Transfer Amount has the meaning specified in Section 3.03(c)(iv).

       

      SEC has the meaning specified in the Merger Agreement.

       

      Separation Agreement has the meaning specified in the recitals of this
        Agreement.

       

      Severance-Eligible Termination means, with respect to a SpinCo Employee, a
        termination of employment by the Clover Group or the SpinCo Group without Cause or by the SpinCo Employee with Good Reason.

       

      SpinCo has the meaning specified in the preamble to this Agreement.

       

      SpinCo Benefit Plan means any Benefit Plan (as defined in the Merger
        Agreement) that is sponsored or maintained by, or required to be contributed to by, a SpinCo Entity that is not a Moon Benefit Plan.

       

      SpinCo Business has the meaning specified in the Separation Agreement.

       

      SpinCo Common Stock has the meaning specified in the Separation Agreement.

       

      SpinCo Deferred Compensation Plan Beneficiary has the meaning specified in
        Section 3.06(b).

       

      SpinCo Deferred Compensation Plans has the meaning specified in Section 3.06(b).

       

      SpinCo Employee has the meaning specified in Section 3.01(a).

       

      SpinCo Entity means a member of the SpinCo Group.

       

      
        9

        
          

      

      SpinCo Group has the meaning specified in the Separation Agreement.

       

      SpinCo Pension Plan has the meaning specified in Section 3.03(a).

       

      SpinCo Pension Plan Participants
        has the meaning specified in Section 3.03(a).

       

      SpinCo Severance Plan has the meaning specified in Section 3.11(a).

       

      Subsidiary has the meaning specified in the Merger Agreement.

       

      Tax has the meaning specified in the Separation Agreement.

       

      Trading Day means the period of time during any given calendar day,
        commencing with the determination of the opening price on the NYSE and ending with the determination of the closing price on the NYSE, in which trading and settlement in Moon Common Stock or Clover Common Stock are permitted on the NYSE.

       

      Transaction Documents has the meaning specified in the Merger Agreement.

       

      Transition Services Agreement has the meaning specified in the Merger
        Agreement.

       

      True-Up Amount has the meaning specified in Section 3.03(c)(v).

       

      Unvested Moon Stock Option has the meaning specified in Section 4.02(b)(i).

       

      Vested Moon Stock Option has the meaning specified in Section 4.02(a).

       

      WARN has the meaning specified in Section 5.02.

       

      Workers’ Compensation Event means the event, injury, illness, or condition
        giving rise to a workers’ compensation claim.

       

      ARTICLE II

       

      

      GENERAL PRINCIPLES

       

      Section 2.01         Principles for Allocation of Liabilities.

       

      (a)          General. It is the intention of Moon, SpinCo, and Clover that all employment-related Liabilities associated with SpinCo Employees and Former SpinCo Employees, including Liabilities relating
          to the hiring, employment, and termination of SpinCo Employees and Former SpinCo Employees, whether prior to, on, or after the Distribution Date, are to be assumed or retained by SpinCo, except as otherwise explicitly set forth herein. Each Moon
          Entity, SpinCo Entity, and Clover Entity shall take any and all reasonable action as shall be necessary or appropriate so that active participation in the Moon Benefit Plans by all SpinCo Employees and Former SpinCo Employees shall terminate in
          connection with the Merger as and when provided under this Agreement (or if not specifically provided under this Agreement, as of the immediately prior to the Distribution Time).

       

      
        10

        
          

      

      (b)          Assumption of Certain Liabilities by the Clover Group. Except as otherwise provided in this Agreement, effective as of the Effective Time, one or more Clover Entities or SpinCo Entities (as
          determined by Clover) shall assume, or continue the sponsorship of, and no member of the Moon Group shall have any further Liability with respect to, or under, and Clover shall indemnify each Moon Entity, and the officers, directors, and
          Employees of each Moon Entity, and hold them harmless with respect to, any and all:

       

      (i)          Employee Agreements;

       

      (ii)         agreements entered into between any Moon Entity and any individual who is an independent contractor, or leasing organization, providing services primarily for the SpinCo Business, in each case as set forth on Schedule 2.01(b)(ii);

       

      (iii)        Collective Bargaining Agreements entered into between any Moon Entity and any union, works council, or other body to the extent relating to the representation of SpinCo Employees or Former SpinCo Employees;

       

      (iv)        wages, salaries, and other
          employee compensation or benefits payable to or on behalf of any SpinCo Employee or Former SpinCo Employee after the Effective Time, without regard to when such wages, salaries, or other employee compensation or benefits are or may have been
          earned;

       

      (v)         moving expenses and
          obligations, including those related to Taxes (foreign and home), relocation, repatriation, international assignments, transfers, and similar items incurred by or owed to any SpinCo Employee or Former SpinCo Employee that have not been paid prior
          to the Effective Time;

       

      (vi)        immigration-related, visa,
          work application, or similar rights, obligations, and Liabilities relating to any SpinCo Employee or Former SpinCo Employee;

       

      (vii)       SpinCo Benefit Plans; and

       

      (viii)      Liabilities and
          obligations whatsoever with respect to claims made by, or with respect to, any SpinCo Employee or Former SpinCo Employee in connection with any Moon Benefit Plan or any employment claims;

       

      
        11

        
          

      

      provided; that if the Clover Group is required to make payments to, or incurs any other
        losses with respect to, a Former SpinCo Employee, in each case with respect to the Liabilities assumed by the Clover Group hereunder in respect of Former SpinCo Employees, but excluding any Liabilities under Sections 3.02, 3.03, 3.06, 3.11(a), and ARTICLE IV, that in the aggregate exceed $20 million during the period commencing on
        the Effective Time and ending on the second (2nd) anniversary of the Effective Time, then the Moon Group shall reimburse the Clover Group, on a dollar-for-dollar basis, for all such excess payments or losses that have been so incurred by
        each of the first (1st) and second (2nd) anniversaries of the Effective Time, in each case promptly following the receipt of reasonable written documentation from the Clover Group describing the payments and/or losses for
        which reimbursement is then sought hereunder, which written documentation shall be provided by the Clover Group to the Moon Group no later than thirty (30) Business Days following the applicable anniversary date. For purposes of illustration only,
        if the Clover Group’s aggregate reimbursable payments and losses as of the first (1st) anniversary of the Effective Time with respect to the applicable Liabilities are $21 million in total, then the Moon Group shall be required to pay $1
        million to the Clover Group following such first (1st) anniversary and if the additional reimbursable payments and losses incurred by the Clover Group during the second (2nd) twelve (12) month period are $15 million in total,
        then Moon Group shall be required to pay $15 million to the Clover Group following the second (2nd) anniversary, for a combined total payment of $16 million.

       

      Notwithstanding anything herein to the contrary, no Clover Entity or SpinCo Entity shall assume any, and the Moon Group shall retain all, Liabilities otherwise described
        in this Section 2.01(b) to the extent that they constitute “Excluded Liabilities” under Section 2.3(b)(ii)(B) of the Separation Agreement.

       

      Section 2.02         Other Terms. Any capitalized terms used herein but not defined herein shall have the meanings specified in the Merger Agreement or Separation Agreement, as applicable.

       

      Section 2.03         Interpretation; Construction.

       

      (a)          General. Unless the context of this Agreement otherwise requires:

       

      (i)          (A) words of any gender
          include each other gender and neutral form; (B) words using the singular or plural number also include the plural or singular number, respectively; (C) the terms “hereof,” “herein,” “hereby,” “hereto,” “herewith,” and “hereunder,” and derivative
          or similar words, refer to this entire Agreement; (D) the terms “Article,” “Section,” “Annex,” “Exhibit,” “Schedule,” and “Disclosure Schedule” refer to the specified Article, Section, Annex, Exhibit, Schedule, or Disclosure Schedule of this
          Agreement, and references to “paragraphs” or “clauses” shall be to separate paragraphs or clauses of the section or subsection in which the reference occurs; (E) the words “include,” “includes,” and “including” shall be deemed to be followed by
          the phrase “without limitation,” and (F) the word “or” shall be disjunctive but not exclusive;

       

      (ii)         references to Contracts
          (including this Agreement) and other documents or Laws shall be deemed to include references to such Contract or Law as amended, supplemented, or modified from time to time in accordance with its terms and the terms hereof, as applicable, and in
          effect at any given time (and, in the case of any Law, to any successor provisions);

       

      
        12

        
          

      

      (iii)        references to any
          federal, state, local, or foreign statute or Law shall include all regulations promulgated thereunder; and

       

      (iv)        references to any Person
          include references to such Person’s successors and permitted assigns, and in the case of any Governmental Authority, to any Person succeeding to its functions and capacities.

       

      (b)          Agreement is Jointly Drafted. The language used in this Agreement shall be deemed to be the language chosen by the Parties to express their mutual intent, and no rule of strict construction
          shall be applied against any party hereto.

       

      (c)          Measuring Days. Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified. If any action is to be taken or given on or by
          a particular calendar day, and such calendar day is not a Business Day, then such action may be deferred until the next Business Day.

       

      (d)          Certain Interpretive Rule. The word “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if.”

       

      (e)          Monetary Figures. All monetary figures shall be in United States dollars unless otherwise specified.

       

      Section 2.04         Survival. If the Merger is consummated, the obligations set forth in this Agreement shall remain in full force and effect and shall survive the Effective Time.

       

      Section 2.05         Termination. This Agreement shall terminate automatically without any further action of the Parties upon a termination of the Merger Agreement, and no Party will have any
        further obligations to the other Parties.

       

      
        13

        
          

      

      ARTICLE III

       

      EMPLOYEE BENEFITS

       

      Section 3.01         Employment.

       

      (a)          Transfer of Employees to SpinCo. Prior to the Distribution Time, Moon and SpinCo shall have taken all steps necessary and appropriate so
          that all of the following Employees are transferred to a SpinCo Entity: (i) each Employee listed on Schedule 3.01(a) attached hereto who is a Group 1 Employee, Group 2
          Employee, or Group 3 Employee and (ii) each Employee listed on Schedule 3.01(a) attached hereto who is a Group 4 Employee (Employees included in clauses (i) and (ii) collectively, the “SpinCo Employees,” and each such Employee, a “SpinCo Employee”). A preliminary Schedule 3.01(a) was provided to Clover on the date on which the Merger Agreement was
          executed, which preliminary schedule listed, by name or unique employee identification number, all Group 1 Employees, Group 2 Employees, and Group 3 Employees as of April 8, 2019, and such schedule was updated with respect to Group 1 Employees,
          Group 2 Employees, and Group 3 Employees following such date to remove terminated Employees, to add any Employees hired to replace any such terminated Employees, and to add any newly hired Employees who would be a Group 1 Employee, Group 2
          Employee, or Group 3 Employee in the ordinary course of business, and to correct any inadvertent errors in such preliminary schedule. Schedule 3.01(a) and the
          definition of Group 4 Employee shall not include any Employee who would otherwise qualify as a Group 4 Employee but who is scheduled for termination or has received the lowest performance rating with respect to any review period that ended during
          the twelve (12) month period ending on the Distribution Date. The aggregate number of Group 4 Employees that may be set forth on Schedule 3.01(a), and the aggregate
          number of Group 4 Employees who actually become SpinCo Employees, as measured at the Effective Time (without regard to the actual date of such Group 4 Employee’s transfer to the Destination Employer (as defined below), if applicable), shall not
          exceed the lesser of 464 and that number of Employees having an aggregate labor cost (calculated for purposes of this sentence and the immediately following sentence as the cost of both compensation and benefits for each such Group 4 Employee
          (but excluding equity or equity-based compensation) and set forth in file 1.8.1 (Transferring Corporate Costs) in the Moon online data room) no greater than $39,389,173. In addition, with respect to each of the following categories of Group 4
          Employees, no more than the following number may be set forth on Schedule 3.01(a) or may actually become SpinCo Employees, as measured at the Effective Time (without
          regard to the actual date of such Group 4 Employee’s transfer to the Destination Employer, if applicable): (1) for engineering and technology, product management, innovation, and strategy Employees, the lesser of 200 and that number of Employees
          having an aggregate labor cost no greater than $8,519,119, (2) for IT, infrastructure, applications, security, and field support Employees, the lesser of 120 and that number of Employees having an aggregate labor cost no greater than $13,985,103,
          and (3) for all other Group 4 Employees, the lesser of 144 and that number of Employees having an aggregate labor cost no greater than $16,884,951, in each case as such number may be increased by an amount not to exceed 7.5%, and in all events
          subject to the aggregate cap on the number of Group 4 Employees set forth in the immediately preceding sentence of this Section 3.01(a).

       

      (b)          Delayed Transfer Employees. To the extent that applicable Law prevents the Parties from causing (i) any Group 1 Employee, Group 2 Employee, or Group 3 Employee to be employed by a member of the SpinCo Group as of the Distribution Time or (ii) any Employee who is intended to be a Moon Employee to be employed by a member of the Moon Group as of the Distribution Time (each such
            employee, a “Delayed Transfer Employee,” and the SpinCo Entity or Moon Entity to which such Delayed Transfer Employee is intended to be transferred, the “Destination Employer”), the Parties shall use commercially reasonable efforts to ensure that (x) such
            Delayed Transfer Employee becomes employed by the Destination Employer at the earliest time permitted by applicable Law and (y) the Destination Employer receives the benefit of such Delayed Transfer Employee’s services from and after the
            Distribution Time, including under the Transition Services Agreement or by entering into an employee leasing or similar arrangement. “Delayed Transfer Employee” shall also include any scheduled Group 4 Employee who, following the Distribution
            Time, provides services to the SpinCo Group under the Transition Services Agreement and whose employment is intended by Moon to transfer to the SpinCo Group following the completion of the applicable Transition Services Agreement service, and
            the Parties shall use commercially reasonable efforts to ensure that any such Delayed Transfer Employee becomes employed by the SpinCo Group as soon as practicable following the completion of the applicable Transition Services Agreement
            service. From and after the commencement of a Delayed Transfer Employee’s employment with the Destination Employer, such Delayed Transfer Employee shall be treated for all purposes of this Agreement as if such Delayed Transfer Employee
            commenced employment with the Destination Employer as of the Distribution.

       

          

      
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      (c)          Allocation of Responsibilities as Employer. At the Distribution Time, except as otherwise provided under this Agreement or any other Transaction Document, the SpinCo Group shall retain or assume, as the case may be,
          responsibility as employer of the SpinCo Employees.

       

      (d)          Employee Agreements. Prior to the Distribution Time, Moon and SpinCo shall have caused a SpinCo Entity to assume and be solely and exclusively responsible for all Employee Agreements entered
          into prior to the Distribution Time, and all obligations and Liabilities with respect thereto, to be effective as of the Distribution Time, and as of and after the Distribution Time the Moon Entities shall have no obligations or Liabilities with
          respect to such Employee Agreements. From and after the Effective Time, Clover shall, or shall cause an Affiliate to, assume and honor all Liabilities and obligations to or in respect of the SpinCo Employees or Former SpinCo Employees (and any
          dependents or beneficiaries thereof) under all SpinCo Benefit Plans and all Employee Agreements.

       

      (e)          Maintenance of Compensation, Employee Benefits, and Work Location. For the period from the Effective Time through the twelve (12) month
          anniversary of the Effective Time, and without limiting any other provisions in this Agreement or in any Employee Agreement, Clover shall, or shall cause SpinCo or an Affiliate to, provide to each SpinCo Employee who continues to be employed with
          the Clover Group (i) (A) an annual base salary or base wage rate, (B) if a bonus-eligible SpinCo Employee, a target annual cash bonus opportunity, and (C) if a commission-eligible SpinCo Employee, a commissions opportunity, in each case that is
          no less than such SpinCo Employee’s annual base salary or base wage rate, target cash bonus opportunity, or commissions opportunity, respectively, as in effect for such SpinCo Employee immediately prior to the Effective Time, (ii) if applicable
          to such SpinCo Employee, a target annual equity or equity-based incentive award opportunity no less favorable than such SpinCo Employee’s equity or equity-based incentive award opportunity for the Closing Plan Year, which shall be determined as
          follows: the sum of (x) the SpinCo Employee’s target service-based equity or equity-based incentive award opportunity for the Closing Plan Year and (y) the average of the actual performance-based equity awards earned by such SpinCo Employee for
          each of the three years ending prior to the Closing Plan Year, measured as of the date of settlement of such awards, (iii) employee benefits and other compensation opportunities that are, in the aggregate, substantially comparable to those
          employee benefits and other compensation opportunities in effect for such SpinCo Employee immediately prior to the Effective Time, and (iv) a principal work location that is no more than thirty-five (35) miles from the SpinCo Employee’s principal
          work location immediately prior to the Effective Time. For the period from the Effective Time through the third (3rd) anniversary of the Effective Time, and without limiting any other provisions in this Agreement or in any Employee
          Agreement, Clover shall, or shall cause SpinCo or an Affiliate to, provide to each Former SpinCo Employee retiree medical and other post-employment retirement benefits that are no less favorable than such benefits as in effect under the Moon
          Group Health Plan and Moon Group Retiree Health Plan for such Former SpinCo Employee immediately prior to the Effective Time.

       

      
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      (f)           Relocations. Without limiting clause (iv) of Section 3.01(e) above, for the period from the Effective Time
          through the twelve (12) month anniversary of the Effective Time, Clover shall, or shall cause SpinCo or an Affiliate to, provide to any SpinCo Employee whose principal work location is relocated from his or her principal work location immediately
          prior to the Effective Time, including any SpinCo Employee who is repatriated to his or her home country following an out-of-country work assignment, such relocation and/or repatriation benefits that are no less favorable to the SpinCo Employee
          than the relocation and/or repatriation benefits that would have been provided to such SpinCo Employee in connection with a relocation and/or repatriation prior to the Effective Time under the applicable relocation or repatriation policies of
          Moon and its Affiliates.

       

      (g)          Service Credit. From and after the Effective Time, Clover shall give each SpinCo Employee full credit for such SpinCo Employee’s service with the Moon Group and/or SpinCo Group prior to the
          Effective Time as service with the Clover Group for determining the amount of paid time off and vacation or sick leave, and the level of employer contributions under any defined contribution retirement plan, and for purposes of eligibility to
          participate, vesting, and benefit accruals (if applicable) under all applicable employee benefit plans, arrangements, collective agreements, and employment-related entitlements (including under any applicable pension, defined contribution (for
          example, 401(k)), deferred compensation, savings, medical, dental, life insurance, disability, vacation, long-service leave and other leave entitlements, post-retirement health and life insurance, termination
          indemnity, and severance or separation pay plans) provided, sponsored, maintained, or contributed to by Clover or any of its Affiliates (including the SpinCo Entities) under which such SpinCo Employee is eligible to participate after the
          Effective Time, in each case to the same extent recognized by the Moon Entities and/or SpinCo Entities immediately prior to the Effective Time, except that no such service credit will be given (i) for benefit accruals under defined benefit
          pension plans or post-retirement health plans or for purposes of qualifying for subsidized early retirement benefits, in each case under any employee benefit plan in which the SpinCo Employee first becomes eligible to participate after the
          Effective Time (other than any plan providing benefits in replacement of benefits provided under a benefit plan in which the SpinCo Employee participated prior to the Effective Time) or (ii) to the extent that such credit would result in the
          duplication of benefits for the same period of service. For the avoidance of doubt, clause (i) above shall apply only to Clover Benefit Plans that do not have a corresponding Moon Benefit Plan.

       

      
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      (h)          International Employees. In the case of SpinCo Employees primarily employed outside the United States, Clover and its Affiliates (including the SpinCo Entities) shall, in addition to meeting
          the requirements set forth herein, comply with all additional obligations or standards arising under applicable Laws governing the terms and conditions of their employment, benefits, or severance of employment in connection with the transfer of
          the SpinCo Business or otherwise.

       

      (i)           Payroll and Related Taxes. With respect to the portion of the tax year occurring prior to the day immediately following the Effective Time, a Moon Entity will (i) be responsible for all payroll obligations, tax
          withholding, and reporting obligations and (ii) furnish a Form W-2 or similar earnings statement to all SpinCo Employees and Former SpinCo Employees for such period. With respect to the remaining portion of such tax year, a Clover Entity will (i)
          be responsible for all payroll obligations, tax withholding, and reporting obligations regarding SpinCo Employees and (ii) furnish a Form W-2 or similar earnings statement to all SpinCo Employees. With respect to each SpinCo Employee, Moon and
          Clover shall, and shall cause their respective Affiliates to (to the extent permitted by applicable Law and practicable) (x) treat a Clover Entity as a “successor employer” and a Moon Entity as a “predecessor,” in each case within the meaning of
          Sections 3121(a)(1) and 3306(b)(1) of the Code, to the extent appropriate, for purposes of Taxes imposed under the United States Federal Insurance Contributions Act, as amended (“FICA”),

          or the United States Federal Unemployment Tax Act, as amended (“FUTA”), and (y) file tax returns, exchange wage payment information, and
          report wage payments made by the respective predecessor and successor employer on separate IRS Forms W-2 or similar earnings statements to each such SpinCo Employee for the tax year in which the Effective Time occurs, in a manner provided in
          Section 4.02(l) of Revenue Procedure 2004-53. Except to the extent otherwise administratively practicable, the collection of payroll taxes under FICA and FUTA will restart upon or following the Effective Time with
          respect to each SpinCo Entity for the tax year during which the Effective Time occurs.

       

      Section 3.02         Qualified Defined Contribution Plan.

       

      (a)          Moon Savings Plan. Effective as of the Distribution Time, SpinCo Employees shall cease to be eligible to (i) have elective deferrals contributed on their behalf to the Moon
          Savings Plan with respect to compensation paid after the Distribution Time, (ii) be credited with future employer contributions (i.e., employer matching and non-elective
          contributions) in the Moon Savings Plan, or (iii) make contributions (for example, rollovers or loan repayments) to the Moon Savings Plan.

       

      (b)          Clover Savings Plan. Prior to the Effective Time, Clover shall have taken all actions necessary and appropriate to establish or maintain for the benefit of SpinCo Employees (i) a defined
          contribution plan qualified under Section 401(a) of the Code that includes a cash or deferred arrangement qualified under Section 401(k) of the Code that is a participant-directed individual account plan that complies with Section 404(c) of
          ERISA, and (ii) a related trust or trusts exempt under Section 501(a) of the Code, each to be effective no later than the Effective Time (such plan and trust(s), the “Clover
              Savings Plan”).

       

      
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      (c)          Spin-Off of the Moon Savings Plan and Merger into the Clover Savings Plan. Effective as of the Effective Time, Moon shall cause the Moon Savings Plan to spin off to the Clover Savings Plan
          the portion of the Moon Savings Plan attributable to the SpinCo Employees and Former SpinCo Employees, as well as to any respective Plan Payees, such spin-off to include (but not be limited to) any and all of such individual’s accounts,
          Liabilities, related Assets, unvested amounts, zero dollar accounts, forfeited accounts, un-locatable participant accounts, and outstanding loan balances, and Clover or one of its Affiliates shall cause the Clover Savings Plan to accept the
          merger of such spun-off portion of the Moon Savings Plan. All Assets shall be transferred in cash as soon as administratively practicable thereafter and shall be mapped to appropriate investment options in the Clover Savings Plan pursuant to
          Section 404(c)(4) of ERISA or to the appropriate qualified default investment fund under the Clover Savings Plan pursuant to Section 404(c)(5) of ERISA. Such spin-off and merger shall be conducted in accordance with Section 414(l) of the Code,
          Treasury Regulation Section 1.414(l)-1, and Section 208 of ERISA. The benefits of the SpinCo Employees participating in the Moon Savings Plan as of immediately prior to the plan merger described in this Section 3.02(c) shall be preserved in the Clover Savings Plan effective as of the plan merger described in this Section 3.02(c) to the extent required under the anti-cutback rules of Section 411(d)(6) of the Code.

       

      Section 3.03         Qualified Defined Benefit Pension Plan.

      

      

      (a)          Establishment of SpinCo Pension Plan. No later than the day prior to the Distribution Date, SpinCo shall have established a defined benefit pension plan (such new defined benefit pension
          plan, the “SpinCo Pension Plan”) that is intended to meet the requirements of Section 401(a) of the Code and related trust that is intended to meet the requirements of
          Section 501(a) of the Code to provide defined benefit pension benefits to SpinCo Employees and Former SpinCo Employees who immediately prior to the Effective Time were participants in the Moon Pension Plan. The SpinCo Employees and Former SpinCo
          Employees described herein shall be known as the “SpinCo Pension Plan Participants.”  Effective as of the Effective Time, either SpinCo shall remain the plan sponsor of
          the SpinCo Pension Plan or Clover shall or shall cause another Affiliate to assume the SpinCo Pension Plan. Clover shall be responsible for taking all necessary, reasonable, and appropriate actions to maintain and administer the SpinCo Pension
          Plan so that it is qualified under Section 401(a) of the Code and that the related trust thereunder is exempt under Section 501(a) of the Code. Clover (acting directly or through members of the Clover Group or the SpinCo Group) shall be
          responsible for any and all Liabilities (including Liability for funding) and other obligations with respect to the SpinCo Pension Plan.

       

        

      
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      (b)          Assumption of Moon Pension Plan Liabilities. Effective as of the Distribution Date, Clover (acting directly or through members of the Clover Group or the SpinCo Group) hereby agrees to cause the SpinCo Pension Plan to
          assume, fully perform, pay, and discharge all Liabilities under the Moon Pension Plan relating to the SpinCo Pension Plan Participants as of the Distribution Date.

       

      (c)          Transfer of the Moon Pension Plan Assets.

       

      (i)          The Parties intend that the portion of the Moon
          Collective Trust Fund relating to the Moon Pension Plan covering SpinCo Pension Plan Participants shall be transferred to the SpinCo Pension Plan in accordance with Section 414(l) of the Code, Treasury Regulation Section 1.414(l)-1, and Section
          208 of ERISA. No later than thirty (30) days prior to the Distribution Date, Moon and Clover (acting directly or through members of the Clover Group or the SpinCo Group) shall, to the extent necessary, file, or cause to be filed, an IRS Form
          5310-A regarding the transfer of Assets and Liabilities from the Moon Collective Trust Fund to the SpinCo Pension Plan.

       

      (ii)         Prior to the Distribution
          Date (or such later time as mutually agreed by the Parties), Moon shall have caused the Moon Actuary to determine the estimated value, as of the Distribution Date, of the Assets to be transferred from the Moon Collective Trust Fund to the SpinCo
          Pension Plan in accordance with the assumptions and valuation methodology set forth on Schedule 3.03(c) attached hereto (the “Estimated Pension Plan Transfer Amount”).

       

      (iii)        On or about the
          Distribution Date (or such later time as mutually agreed by the Parties), Moon and Clover (acting directly or through members of the Clover Group or the SpinCo Group) shall cooperate in good faith to cause an initial transfer of Assets from the
          Moon Collective Trust Fund to the trust of the SpinCo Pension Plan in an amount to be approximately ninety percent (90%) of the Estimated Pension Plan Transfer Amount (such amount, the “Initial Transfer Amount”). Moon shall satisfy its obligation pursuant to this Section 3.03(c)(iii) by causing the Moon Collective Trust Fund to
          transfer Assets equal to the Initial Transfer Amount. Assets may be transferred in cash, cash equivalents, or securities, or if acceptable to Clover, in kind, or in a combination of the foregoing, as determined by Moon in its sole discretion
          (other than Assets in kind).

       

      
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      (iv)        Within sixty (60) days (or
          such later time as mutually agreed by the Parties) following the Distribution Date, Moon shall cause the Moon Actuary to provide Clover with a revised calculation of the value, as of the Distribution Date, of the Assets of the Moon Collective
          Trust Fund to be transferred to the SpinCo Pension Plan determined in accordance with the assumptions and valuation methodology set forth on Schedule 3.03(c) attached
          hereto (the “Revised Pension Plan Transfer Amount”). Clover may submit, at its sole cost and expense, the Revised Pension Plan Transfer Amount to the Clover Actuary for
          verification; provided, that such verification process and any calculation performed by the Clover Actuary in connection therewith shall be performed solely on the
          basis of the assumptions and valuation methodology set forth on Schedule 3.03(c) attached hereto. In order to perform such verification, upon request from Clover, the
          Moon Actuary shall provide the Clover Actuary with the data and additional detailed methodology used to calculate the Initial Transfer Amount and the Final Pension Plan Transfer Amount. Clover will be responsible for the cost and expense of the
          Clover Actuary, and Moon will be responsible for the cost and expense for the Moon Actuary. If the Clover Actuary so determines that the value, as of the Distribution Date, of the Assets to be transferred to the SpinCo Pension Plan differs from
          the Revised Pension Plan Transfer Amount, the Clover Actuary shall identify in writing to the Moon Actuary all objections to the Moon Actuary’s determination within sixty (60) days following provision of the revised value calculation to Clover
          pursuant to the first sentence of this Section 3.03(c)(iv), and the Clover Actuary and the Moon Actuary shall use good-faith efforts to reconcile any such difference.
          The Revised Pension Plan Transfer Amount shall be deemed final if the Clover Actuary does not submit written objections to the Moon Actuary within such sixty (60) day period. If the Clover Actuary and the Moon Actuary fail to reconcile such
          differences, the Clover Actuary and the Moon Actuary shall jointly designate a third, independent actuary whose calculation of the value, as of the Distribution Date, of the Assets to be transferred to the SpinCo Pension Plan shall be final and
          binding; provided, that such value must be between the value determined by the Clover Actuary and the Revised Pension Plan Transfer Amount or equal to either such
          value. Such calculation shall be performed within a reasonable period of time, but no more than one hundred twenty (120) days, following designation of such third actuary and in accordance with the assumptions and valuation methodology set forth
          on Schedule 3.03(c) attached hereto. Moon and Clover shall each pay one half (1⁄2) of the costs incurred in connection with the retention of such independent actuary. The
          final, verified value, as of the Distribution Date, of the Assets to be transferred to the SpinCo Pension Plan as determined in accordance with this Section 3.03(c)(iv)
          shall be referred to herein as the “Final Pension Plan Transfer Amount.”

       

      (v)         Within forty-five (45)
          days (or such later time as mutually agreed by the Parties) following the determination of the Final Pension Plan Transfer Amount, Moon shall cause the Moon Collective Trust Fund to transfer to the trust of the SpinCo Pension Plan (the date of
          such transfer, the “Final Transfer Date”) the amounts in cash, cash equivalents, securities, or if acceptable to Clover, in kind, or in a combination of the foregoing,
          as determined by Moon in its sole discretion (other than Assets in kind), equal to (A) the Final Pension Plan Transfer Amount minus (B) the Initial Transfer Amount (such difference, as adjusted to reflect earnings or losses as described in this Section 3.03(c)(v), the “True-Up Amount”); provided, that, if the True-Up Amount is negative, Moon shall not be required to cause any such additional transfer and instead Clover shall be required to cause a transfer of cash, cash equivalents, or securities,
          or, if acceptable to Moon, Assets in kind, or a combination of the foregoing, from the trust of the SpinCo Pension Plan to the Moon Collective Trust Fund as required in an amount equal to the absolute value of the True-Up Amount. The Parties
          acknowledge that the Moon Collective Trust Fund’s transfer of the True-Up Amount to the trust of the SpinCo Pension Plan shall be in full settlement and satisfaction of the obligations of Moon to cause the transfer of, and the Moon Pension Plan
          to transfer, Assets to the SpinCo Pension Plan pursuant to this Section 3.03(c)(v). The True-Up Amount, if any, shall be adjusted to reflect fees or charges paid or
          incurred, and earnings or losses, during the period from the Distribution Date to the Final Transfer Date. Such earnings or losses shall be determined based on the actual rates of return of the Moon Pension Plan for the period commencing as of
          the Distribution Date and ending as close as administratively practicable to the Final Transfer Date. If Clover is obligated to cause the trust of the SpinCo Pension Plan to reimburse the Moon Pension Plan pursuant to this Section 3.03(c)(v), such reimbursements shall be performed in accordance with the same principles set forth herein with respect to the payment of the True-Up Amount. The
          Parties acknowledge that the SpinCo Pension Plan’s transfer of such reimbursement amounts to the Moon Collective Trust Fund shall be in full settlement and satisfaction of the obligations of Clover to cause the transfer of, and the trust of the
          SpinCo Pension Plan to transfer, Assets to the Moon Collective Trust Fund pursuant to this Section 3.03(c)(v).

       

        

      

      
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      Section 3.04          Retirement Benefits Funding Obligations.

       

      (a)          Pre-Distribution ARA and ARL Estimates. Prior to the Distribution Date (or such later time as mutually agreed by the Parties), Moon shall have caused the Moon Actuary to determine the estimated value of the ARA (with the
          value of Assets related to the SpinCo Pension Plan to be determined based on the Estimated Pension Plan Transfer Amount, determined in accordance with Section 3.03(c))
          and the ARL and to deliver to Clover and the Clover Actuary for their review written reports of the estimates for each such component value, together with reasonable supporting detail, including for each such component an estimate for each SpinCo
          Employee and Former Employee participating in each applicable plan. The Moon Actuary shall provide the Clover Actuary with the data and additional detailed methodology used to calculate such estimated amounts and such other information reasonably
          requested by the Clover Actuary to review such estimated amounts.

       

      (b)          Determination of ARA and ARL. As promptly as possible (and in any event no more than fifteen (15) days) after the Final Pension Plan Transfer Amount is definitively determined, Moon shall
          cause the Moon Actuary to deliver to Clover and the Clover Actuary revised reports setting forth Moon’s good-faith calculations of each of the ARA and the ARL, together with reasonable supporting detail, including for each such component value,
          the value for each SpinCo Employee and Former Employee participating in each applicable plan. The Moon Actuary shall provide the Clover Actuary with the data and additional detailed methodology used to calculate such amounts and such other
          information reasonably requested by the Clover Actuary to review such amounts. The Clover Actuary shall identify in writing to the Moon Actuary all objections to the Moon Actuary’s calculations of the ARA and the ARL within thirty (30) days
          following provision of the revised calculations, supporting detail, data, and methodology to the Clover Actuary pursuant to this Section 3.04(b), and the Clover Actuary
          and the Moon Actuary shall use good-faith efforts to reconcile any such difference. The calculations shall be deemed final if the Clover Actuary does not submit written objections to the Moon Actuary within such thirty (30) day period. If the
          Clover Actuary and the Moon Actuary fail to reconcile such differences, the Clover Actuary and the Moon Actuary shall jointly designate a third, independent actuary (which third actuary shall be the same actuary as was designated under Section 3.03(c)(iv), unless both Parties agree otherwise or such third actuary declines the designation) to calculate the ARA and the ARL, whose calculations of each such
          value shall be final and binding; provided, that each such component value must be between the corresponding value determined by the Moon Actuary and the Clover Actuary
          or equal to either such value. Such third actuary’s calculations shall be performed within a reasonable period of time, but no more than sixty (60) days, following the designation of such third actuary. Moon shall be responsible for all costs and
          expenses of the Moon Actuary, and Clover shall be responsible for all costs and expenses of the Clover Actuary related to the matters in this Section 3.04. Moon and
          Clover shall each pay one half (1⁄2) of the costs incurred in connection with the retention of a third actuary.

       

      
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      (c)          Moon Payment. Within thirty (30) days (or such later time as mutually agreed by the Parties) after the final determination of the ARA and the ARL in accordance with Section 3.04(b), Moon shall make a cash payment to Clover equal to either (x) if the ARL exceeds $600 million, an amount equal to the excess, if any, of the Aggregate Underfunding over $186
          million, or (y) if the ARL is $600 million or less, an amount equal to the excess, if any, of (i) the Aggregate Underfunding over (ii) the product of (A) 0.31 and (B) the ARL.

       

      Section 3.05         Moon UK Pension Plan. Notwithstanding anything herein to the contrary, the Parties hereby agree, and Moon shall take all steps necessary to ensure, that (i) the Moon UK
        Pension Plan will not transfer to or with any SpinCo Entity in connection with the Distribution and shall remain with the Moon Group from and after the Distribution Time, (ii) no SpinCo Entity will become, assume, or continue as a participating
        employer in the Moon UK Pension Plan for the purposes of UK pensions legislation on and following the Distribution Time, nor will it (or any Clover Entity) have any Liability thereunder or with respect thereto, including in relation to any
        statutory debt on the employer under Section 75 or 75A of the Pensions Act 1995 from and after the Distribution Time, and (iii) from and after the Distribution Time, no SpinCo Employees or Former SpinCo Employees will be active members accruing
        benefits in the Moon UK Pension Plan.

       

      Section 3.06         Nonqualified Plans.

       

      (a)          Moon Deferred Compensation Plans. SpinCo Employees shall not be permitted to defer compensation or accrue benefits under the Moon Deferred Compensation Plans after the Distribution Time.

       

      (b)          SpinCo Deferred Compensation Plans. Prior to the Distribution Date, SpinCo shall have taken all actions necessary and appropriate to establish for the benefit of SpinCo Employees one or more
          deferred compensation plans (collectively, the “SpinCo Deferred Compensation Plans”) to provide each SpinCo Employee or Former SpinCo Employee who was a participant in
          one or more of the Moon Deferred Compensation Plans as of immediately prior to the Distribution Date (each, a “SpinCo Deferred Compensation Plan Beneficiary”) benefits
          in respect of service and compensation following the Distribution Date that are substantially identical to those accrued with respect to such person under, and the opportunity to defer compensation and accrue benefits on a basis that is
          substantially identical to, the Moon Deferred Compensation Plans as of immediately prior to the Distribution Date. As of the Distribution Date, the SpinCo Employees and Former SpinCo Employees shall no longer participate in the Moon Deferred
          Compensation Plans. The Parties agree that for purposes of the Moon Deferred Compensation Plans, a SpinCo Deferred Compensation Plan Beneficiary shall not be considered to have incurred a separation from service as determined under the general
          rules of Section 409A of the Code as a result of the Distribution or the transfer of employment or service from Moon (or a Moon Entity) to SpinCo (or SpinCo Entity), and such employment or service shall be considered to terminate for purposes of
          the SpinCo Deferred Compensation Plans only when the employment or service of such SpinCo Deferred Compensation Plan Beneficiary with the SpinCo Group terminates in accordance with the terms of the SpinCo Deferred Compensation Plans and
          applicable Laws.

       

      
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      (c)          Liability and Responsibility. The Liabilities in respect of SpinCo Deferred Compensation Plan Beneficiaries under the Moon Deferred Compensation Plans shall be assumed by SpinCo, effective as
          of the Distribution Date. SpinCo shall have sole responsibility for the administration of the SpinCo Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of SpinCo Deferred Compensation Plan Beneficiaries, and no
          member of the Moon Group shall have any Liability or responsibility therefor. During the Designated Survival Period and subject to Schedule 3.06(c),
          Clover shall not, and shall not permit any Affiliate (including any SpinCo Entity) to, terminate or amend any SpinCo Deferred Compensation Plan in a manner that is adverse in any respect to any SpinCo Employee.

       

      (d)          Section 409A. The Parties will cooperate in good faith so that the transfers contemplated by this Section 3.06(d)
          will not result in adverse Tax consequences under Section 409A of the Code.

       

      Section
          3.07         Short-Term Bonuses for Closing Plan Year; Earned but Unpaid Incentive Compensation. Immediately prior to the Distribution Time, Moon shall have paid
        (a) all earned but unpaid bonuses, commissions, and other cash-based incentive compensation due to any SpinCo Employee or Former SpinCo Employee under any Employee Agreement, SpinCo Benefit Plan, or Moon Benefit Plan, and (b) to each bonus-eligible
        SpinCo Employee a bonus, calculated based on actual performance through the Distribution Date or assuming the target level of performance, in each case as determined by Moon in its sole discretion, pursuant to any cash incentive or bonus program of
        the Moon Group in which such SpinCo Employee is a participant immediately prior to the Distribution Date, prorated to correspond with the SpinCo Employee’s applicable period of employment with Moon during the Closing Plan Year. Effective as of the
        Distribution Time, Clover shall or shall cause another Affiliate to cause each bonus-eligible SpinCo Employee to become a participant in a cash incentive or bonus program of the Clover Group for the remainder of the Closing Plan Year; provided, that the cash incentive or bonus program of the Clover Group provides, in the aggregate, similar achievement opportunities as the SpinCo Employee was entitled to
        prior to the Distribution Date. Clover shall be responsible for any payment to which a SpinCo Employee may be entitled under a cash incentive or bonus program of the Clover Group following the Distribution Time.

       

      
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      Section 3.08          Health and Welfare Benefits.

       

      (a)          Moon Group Health Plan. Effective as of the Distribution Date (or as otherwise provided in the Transition Services Agreement), SpinCo Employees and Former SpinCo Employees will cease to
          participate in the Moon Group Health Plan.

       

      (b)          Clover Group Health Plan. Prior to the Effective Time (or as otherwise provided in the Transition Services Agreement), Clover shall, or shall cause one of its Affiliates to,
          take, or cause to be taken, or have taken, all action necessary and appropriate to establish or designate and administer a group health and welfare benefits plan for the benefit of all SpinCo Employees and eligible dependents effective as of the
          Effective Time (or as otherwise provided in the Transition Services Agreement) (the “Clover Group Health Plan”) and to provide benefits thereunder for all eligible
          SpinCo Employees and eligible dependents who choose to enroll in such Plan. Clover will cause such Clover Group Health Plan to permit enrollment immediately (or at such time as otherwise provided in the Transition Services Agreement) by those
          SpinCo Employees and their dependents who immediately prior to the Distribution Time were participating in, or entitled to present or future benefits under, the Moon Group Health Plan, and shall recognize the most recent hire date of such SpinCo
          Employee with Moon or a member of the controlled group of organizations of which Moon is a part (as defined by Section 414 of the Code and regulations issued thereunder) for purposes of determining whether such SpinCo
          Employee has met any otherwise-applicable waiting period. The Clover Group Health Plan (or, to the extent provided in the Transition Services Agreement, the Clover Group) will be responsible for all Liabilities associated with claims incurred by
          SpinCo Employees and their dependents on or following the Effective Time, regardless of when the injury or medical condition giving rise to the claim occurred. The Moon Group Health Plan will be responsible for all Liabilities associated with
          claims incurred by SpinCo Employees and their dependents before the Effective Time. For purposes of this Section 3.08(b) and Section 3.08(c), a claim is deemed to be incurred (i) with respect to medical, dental, vision, or prescription drug benefits, as applicable, on the date on which the services are performed or the goods are
          provided, regardless of when the injury or medical condition giving rise to the claim occurred, (ii) with respect to life, accidental death and dismemberment, and business travel accident insurance, on the date on which the event giving rise to
          such claim occurs, and (iii) with respect to disability benefits, on the date on which a person’s disability begins, as determined by the disability benefit insurer or claims administrator, giving rise to such claim.

       

      (c)          Clover Group Retiree Health Plan. Prior to the Effective Time (or as otherwise provided in the Transition Services Agreement), Clover shall have taken all action necessary
          and appropriate to establish or designate and administer a retiree health benefits plan for the benefit of all SpinCo Employees and Former SpinCo Employees who are eligible for current or, upon retirement, future coverage under the Moon Group
          Retiree Health Plan as of the Distribution Time (the “Clover Group Retiree Health Plan”) and to provide benefits thereunder for all eligible SpinCo Employees and Former
          SpinCo Employees who choose to enroll in such Plan. Clover will cause such Clover Group Retiree Health Plan to permit enrollment immediately (or at such time as otherwise provided in the Transition Services Agreement) by those Former SpinCo
          Employees and their dependents who immediately prior to the Distribution Time were participating in, or entitled to present or future benefits under, the Moon Group Retiree Health Plan. The Clover Group Retiree Health Plan will be responsible for
          all Liabilities associated with claims incurred by SpinCo Employees and Former SpinCo Employees and their dependents on or following the Effective Time, regardless of when the injury or medical condition giving rise to the claim occurred. The Moon Group Retiree Health Plan will be responsible for all Liabilities associated with claims incurred by SpinCo
          Employees and Former SpinCo Employees and their dependents before the Effective Time.

       

      
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      (d)          Dependent Care and Health Flexible Spending Accounts. Notwithstanding anything contained in Section 3.08(b), to
          the extent that SpinCo Employees participate in a dependent care or health flexible spending account under the Moon Group Health Plan (the “Moon FSA/DCA”) during the
          Closing Plan Year, Clover shall establish (or cause its Affiliate, if applicable, to establish) one or more comparable plans (the “Clover FSA/DCA”) that will recognize
          the elections that such SpinCo Employees and Former SpinCo Employees had in effect for purposes of the Closing Plan Year under the Moon FSA/DCA. The Clover FSA/DCA shall (i) assume the Assets and Liabilities of the Moon FSA/DCA with respect to
          SpinCo Employees and Former SpinCo Employees as of the Effective Time and (ii) provide the same level of dependent care and flexible spending account benefits as those provided under the Moon FSA/DCA at least through the latest date on which
          participants are entitled to submit for reimbursements with respect to contribution elections made during the Closing Plan Year. After the Effective Time, the Clover FSA/DCA will be responsible for reimbursement of all previously unreimbursed
          reimbursable dependent care and flexible spending account claims incurred by SpinCo Employees, regardless of when the claims were incurred.

       

      (e)          Continuation Coverage. As of and following the Effective Time, the Clover Group Health Plan shall be solely responsible for providing and meeting the continuation coverage requirements
          imposed by Section 4980B of the Code and Sections 601 through 608 of ERISA (“COBRA”) for all SpinCo Employees and all Former SpinCo
          Employees, as well as their “qualified beneficiaries” (as defined under COBRA) (such SpinCo Employees and Former SpinCo Employees, and their qualified beneficiaries together, the “COBRA

              Participants”), regardless of whether the “qualifying event” (as defined under COBRA) arose before, on, or after the Effective Time. The Clover Group Health Plan will be responsible for all Liabilities associated with claims by
          COBRA Participants in respect of services that are performed or goods that are provided on or following the Effective Time, regardless of when the injury
            or medical condition giving rise to the claim occurred. The Moon Group Health Plan will be responsible for all Liabilities associated with claims by COBRA Participants in respect of services that are performed or goods that are provided
          before the Effective Time.

       

      
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      (f)           6055/6056 Reporting. Clover shall be solely responsible for ensuring that SpinCo complies with the reporting obligations under Section 6056 of the Code (Reporting of Offers of Coverage) with respect to SpinCo Employees for the Closing Plan Year (including while SpinCo was owned by Moon) and periods after the Distribution Date, for which
          SpinCo has a reporting obligation, provided that Moon shall be responsible for complying with all reporting obligations with respect to the year prior to the Closing Plan Year. In this regard, SpinCo shall be responsible for distributing IRS Form
          1095-C to applicable individuals and filing IRS Forms 1094-C and 1095-C with the IRS, all according to the applicable rules and regulations governing such forms. Clover shall also be solely responsible for ensuring that SpinCo complies with the
          reporting obligations under Section 6055 of the Code (Reporting of Enrollment in Minimum Essential Coverage) with respect to all SpinCo Employees who are enrolled in a self-insured medical
          plan under the Moon Group Health Plan. SpinCo may meet this obligation either through IRS Forms 1094-C and 1095-C or IRS Forms 1094-B and 1095-B, all in accordance with applicable rules and regulations. The reporting obligations under Section
          6055 of the Code for SpinCo Employees who are enrolled in a fully insured medical plan under the Moon Group Health Plan shall be met by the applicable insurance carrier or HMO. Moon shall work with Clover to provide all necessary pre–Distribution Date information for SpinCo to meet its reporting obligation, which information shall be complete and accurate and provided to SpinCo no later than thirty (30) days prior to the
          date that such reporting obligation is due (disregarding any extensions to such reporting deadlines that may be granted by the IRS for the reporting year); provided, however, that to the extent reasonably necessary, such time frame shall be reduced to fifteen (15) days for any data related to the four (4) month period ending on the date
          on which such reporting obligation is due.

       

      (g)          Credit for Benefits. Clover shall (i) waive for each SpinCo Employee and Former SpinCo Employee, and his or her dependents, each waiting period provision, payment requirement to avoid a
          waiting period, pre-existing condition limitation, actively-at-work requirement, and any other restriction that would prevent immediate or full participation under the welfare plans of Clover or any of its Affiliates applicable to (or was
          previously satisfied by) such SpinCo Employee or Former SpinCo Employee to the extent that such waiting period, pre-existing condition limitation, actively-at-work requirement, or other restriction would not have been applicable to such SpinCo
          Employee or Former SpinCo Employee under the terms of the applicable Moon Benefit Plan immediately prior to the Effective Time, and (ii) give full credit under the welfare plans of Clover and its Affiliates applicable to each SpinCo Employee and
          Former SpinCo Employee, and his or her dependents, for all out-of-pocket expenses, including co-payments and deductibles, satisfied prior to the Effective Time in the Closing Plan Year, and for any lifetime maximums, as if there had been a single
          continuous employer.

       

      Section 3.09         Workers’ Compensation. Following the Distribution Date, SpinCo and its Affiliates will be solely responsible for all United States (including its territories) workers’
        compensation claims of SpinCo Employees and Former SpinCo Employees with respect to Workers’ Compensation Events, regardless of when such Workers Compensation Events to which such claims relate occur, except to the extent that claims that relate to
        events occurring prior to the Distribution Date are covered under an applicable Moon’s workers’ compensation insurance policy.

       

      
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      Section 3.10         Vacation, Paid Time Off, and Sick Pay Liabilities. As of the Distribution Date, SpinCo shall provide each SpinCo Employee with the same vested and unvested balances of
        vacation, paid time off, and sick leave as credited to such SpinCo Employee on Moon’s or its Affiliate’s payroll system immediately prior to the Distribution Date. For the period from the Effective Time through the twelve (12) month anniversary of
        the Effective Time, and without limiting any other provisions in this Agreement or in any Employee Agreement, Clover shall accrue vacation and sick leave in respect of each SpinCo Employee according to Moon’s accrual schedule as in effect
        immediately prior to the Effective Time, or Clover’s accrual schedule as in effect for similarly situated Employees of the Clover Group, whichever is more favorable to the SpinCo Employee.

       

      Section 3.11         Severance.

       

      (a)          Assumption of Outstanding Severance Liabilities. Effective as of the Distribution Time, SpinCo shall assume all severance Liabilities under each Moon Benefit Plan with respect to any Former
          SpinCo Employee.

       

      (b)          Establishment of SpinCo Major Restructuring Severance Plan. Prior to the Distribution Date, SpinCo shall have established and adopted a severance plan (the “SpinCo Severance Plan”) that will be identical in all respects to the Moon Major Restructuring Severance Plan (save for clerical changes to reflect SpinCo as the plan
          sponsor) and that will provide severance benefits in accordance with this Section 3.11(a) to each SpinCo Employee who (i) was eligible to be a participant in the Moon
          Major Restructuring Severance Plan as of the day prior to the Distribution Date or (ii) is hired or promoted by SpinCo or an Affiliate on or following the Distribution Date into a position and would have been eligible to participate in the Moon
          Major Restructuring Severance Plan had such person been employed in such position on the day prior to the Distribution Date. Such severance benefits shall be provided upon any Severance-Eligible Termination during the Designated Survival Period,
          and the amount, composition, and terms and conditions of such benefits shall be as set forth in the Moon Major Restructuring Severance Plan (and as made a part of the SpinCo Severance Plan). The Parties hereby agree and acknowledge that, for
          purposes of the SpinCo Severance Plan, the Distribution and Merger constitute a “Major Restructuring,” as such term is used in the Moon Major Restructuring Severance Plan (and as made a part of the SpinCo Severance Plan) with respect to the
          SpinCo Employees. Notwithstanding the foregoing, if in connection with such termination, the Clover Group severance arrangement, plan, policy, or guideline that is applicable to similarly situated Employees of the Clover Group would provide a
          greater severance benefit to such terminated SpinCo Employee, such Clover arrangement shall apply in lieu of the SpinCo Severance Plan. As of the Distribution Date, (i) the SpinCo Employees will no longer participate in the Moon Major
          Restructuring Severance Plan, and (ii) no member of the Moon Group shall have any further Liability for, and SpinCo shall indemnify each member of the Moon Group, and the officers, directors, and employees of each member of the Moon Group, and
          hold them harmless with respect to any and all Liabilities and obligations whatsoever with respect to, claims made by or with respect to any SpinCo Employees or Former SpinCo Employees in connection with the SpinCo Severance Plan, including such
          Liabilities relating to actions or omissions of or by any member of the SpinCo Group or any officer, director, employee, or agent thereof prior to, on, or after the Distribution Date. During the Designated Survival Period, Clover shall not, and
          shall not permit any Affiliate (including any SpinCo Entity) to, terminate or amend the SpinCo Severance Plan in a manner that is adverse in any respect to any SpinCo Employee.

       

      
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      (c)          Severance Arrangements, Plans, Policies and Guidelines. Without limiting clause (iii) of Section 3.01(e) or Section 3.11(a) above, Clover shall, or shall cause SpinCo or an Affiliate to, provide severance benefits in accordance with this Section 3.11(c) to each SpinCo Employee whose employment with Clover and its Affiliates (including any SpinCo Entity) terminates during the Designated Survival Period in a manner that would constitute a
          Severance-Eligible Termination, and who is not actually entitled to severance benefits under the SpinCo Severance Plan as a result of such employment termination. The amount, composition, and terms and conditions of such severance benefits shall
          be no less favorable to such SpinCo Employee than those provided under either (x) the Ordinary Severance Guidelines of Moon as described on Schedule
              3.11(c), or (y) the applicable Clover Group severance arrangement, plan, policy, or guideline applicable to similarly situated Employees of the Clover Group, whichever arrangement provides a greater benefit.

       

      Section 3.12         Preservation of Right to Amend or Terminate Plans. Except as otherwise expressly provided in this Agreement, the Separation Agreement, or the Merger Agreement, no provisions
        of this Agreement shall be construed as a limitation on the right of Moon, SpinCo, or Clover, or any Affiliate thereof, to amend any Plan or terminate its participation therein that Moon, SpinCo, or Clover, or any Affiliate thereof, would otherwise
        have under the terms of such Plan or otherwise, and no provision of this Agreement shall be construed to create a right in any Employee or former Employee, or dependent or beneficiary of such Employee or former Employee, or any Plan Payee, under a
        Plan that such person would not otherwise have under the terms of the Plan itself.

       

      Section 3.13         No Right to Employment. Notwithstanding anything to the contrary set forth in this Agreement, no provisions of this Agreement shall be deemed to guarantee employment for any
        period of time for, or preclude the ability of SpinCo or Clover, or any of its Affiliates, to terminate any employee or individual service provider for any reason.

       

      ARTICLE IV

      

      

      EQUITY COMPENSATION AWARDS

       

      Section 4.01          General Principles.

       

      (a)          Agreement to Cooperate. Moon and Clover shall take any and all reasonable actions as shall be necessary and appropriate to further the provisions of this ARTICLE IV, including, to the extent practicable, providing written notice or similar communications to each Employee who holds one or more awards granted under any Moon
          Stock Plan or is notionally invested in Moon Common Stock through a Moon Deferred Compensation Plan informing such Employee of (i) the actions contemplated by this ARTICLE IV
          with respect to such awards and (ii) whether (and during what time period) any “blackout” period shall be imposed upon holders of awards granted under any Moon Stock Plan or participants who are notionally invested in Moon Common Stock through a
          Moon Deferred Compensation Plan during which time awards or investment elections may not be exercised or settled, as the case may be.

       

      
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      (b)          Recognition of Service. Following the Effective Time, a grantee who has outstanding equity-based awards under one or more of the Moon Stock Plans or is notionally invested in Moon Common
          Stock through a Moon Deferred Compensation Plans and/or replacement equity-based awards under the Clover Stock Plan shall be considered to have been employed by the applicable plan sponsor before and after the Effective Time for purposes of (i)
          vesting and (ii) determining the date of termination of employment as it applies to any such award.

       

      (c)          Compliance with Laws. No award described in this ARTICLE IV, whether outstanding or to be issued, adjusted,
          substituted, or canceled by reason of or in connection with the Distribution, shall be adjusted, settled, canceled, or exercisable until, in the judgment of the administrator of the applicable plan or program such action is consistent with all
          applicable Laws, including federal securities Laws. Any period of exercisability will be extended on account of a period during which such an award is not exercisable pursuant to the preceding sentence, to the extent permitted under Section 409A
          of the Code.

       

      (d)          Section 409A. The adjustment or conversion of the Moon Equity Awards shall be effected in a manner that is intended to avoid the imposition of any accelerated, additional, penalty, or other Taxes on the holders thereof
          pursuant to Section 409A of the Code.

       

      Section 4.02          Moon Stock Options.

      

       

      (a)          Vested Moon Stock Options. Each Moon Stock Option that is vested by its terms immediately prior to the Distribution Time (each, a “Vested Moon Stock Option”), regardless of who holds such Vested Moon Stock Option, shall remain an option to purchase shares of Moon Common Stock issued under the applicable Moon Stock Plan (each such award, an “Adjusted Vested Moon Stock Option”). Each Adjusted Vested Moon Stock Option shall be subject to the same terms and conditions after the Effective Time as the terms and
          conditions applicable to the corresponding Vested Moon Stock Option immediately prior to the Distribution Time; provided, however, that from and after the Effective Time, (x) the number of shares of Moon Common Stock subject to each such Adjusted Vested Moon Stock Option shall equal (A) the number of shares of Moon Common Stock
          subject to the corresponding Vested Moon Stock Option immediately prior to the Distribution Time divided by (B) the Moon Ratio, with any fractional share rounded down to the nearest whole share, and (y) the per-share exercise price of each such
          Adjusted Vested Moon Stock Option shall equal (A) the per-share exercise price of the corresponding Vested Moon Stock Option immediately prior to the Distribution Time multiplied by (B) the Moon Ratio, rounded up to the nearest whole cent.

       

      
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      (b)          Unvested Moon Stock Options.

       

      (i)          Each Moon Stock Option
          that is unvested by its terms immediately prior to the Distribution Time (an “Unvested Moon Stock Option”) held by a Moon Group Employee, Former Moon Group Employee, or
          Former SpinCo Employee, or by a current or former member of the board of directors of Moon, shall remain an option to purchase shares of Moon Common Stock issued under the applicable Moon Stock Plan (each such award, an “Adjusted Unvested Moon Stock Option”). Each Adjusted Unvested Moon Stock Option shall be subject to the same terms and conditions after the Effective Time as the terms and conditions
          applicable to the corresponding Unvested Moon Stock Option immediately prior to the Distribution Time; provided, however, that from and after the Effective Time, (x) the number of shares of Moon Common Stock subject to each such Adjusted Unvested Moon Stock Option shall equal (A) the number of shares of Moon Common Stock subject to
          the corresponding Unvested Moon Stock Option immediately prior to the Distribution Time divided by (B) the Moon Ratio, with any fractional share rounded down to the nearest whole share, and (y) the per-share exercise price of each such Adjusted
          Unvested Moon Stock Option shall equal (A) the per-share exercise price of the corresponding Unvested Moon Stock Option immediately prior to the Distribution Time multiplied by (B) the Moon Ratio, rounded up to the nearest whole cent.

       

      (ii)          Each Unvested Moon Stock
          Option held by a SpinCo Employee immediately prior to the Distribution Time shall be converted as of the Effective Time into an option to purchase shares of Clover Common Stock (each such award, an “Clover Stock Option”) pursuant to the terms of the Clover Stock Plan, subject to terms and conditions from and after the Effective Time that are substantially similar to the terms and conditions applicable to
          the corresponding Unvested Moon Stock Option immediately prior to the Distribution Time; provided, however, that from and after the Effective Time, (x) the number of shares of Clover Common Stock subject to such Clover Stock Option shall equal (A) the number of shares of
          Moon Common Stock subject to the corresponding Unvested Moon Stock Option immediately prior to the Distribution Time divided by (B) the Clover Ratio, with any fractional share rounded down to the nearest whole share, (y) the per-share exercise
          price of such Clover Stock Option shall equal the product of (A) the per-share exercise price of the corresponding Unvested Moon Stock Option immediately prior to the Distribution Time multiplied by (B) the Clover Ratio, rounded up to the nearest
          whole cent, and (z) with respect to each such Clover Stock Option, “change in control” shall have the meaning set forth in the Clover Stock Plan (i.e., a “change in
          control” of Clover rather than Moon).

       

      Section 4.03         Restricted Stock Units.

       

      (a)          Moon Group Employee Awards. Moon RSUs held by a Moon Group Employee, Former Moon Group Employee, or Former SpinCo Employee immediately prior to the Distribution Time shall be adjusted by
          dividing the number of Moon RSUs subject to each grant by the Moon Ratio. If the resulting product includes a fractional share, the number of Moon RSUs shall be rounded up to the nearest whole share. The terms and conditions (including vesting
          terms) to which the Moon RSUs are subject shall be substantially the same terms and conditions before and after the Effective Time.

       

      
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      (b)          SpinCo Employee Awards. Moon RSUs held by a SpinCo Employee immediately prior to the Distribution Time shall be replaced with an award of a number of Clover restricted stock units (the “Clover RSUs”) determined by dividing the number of Moon RSUs subject to each award by the Clover Ratio. If the resulting product includes a fractional share, the number of
          Clover RSUs shall be rounded up to the nearest whole share. The Clover RSUs shall be subject to substantially the same terms and conditions (including vesting terms) as in effect for the corresponding Moon RSUs immediately prior to the
          Distribution Time; provided, however, with respect to each such Clover RSU, “change in
          control” shall have the meaning set forth in the Clover Stock Plan (i.e., a “change in control” of Clover rather than Moon).

       

      Section 4.04          Performance Stock Units.

       

      (a)          Adjustment of Moon PSUs. The number of shares of Moon Common Stock underlying each Moon PSU held by a Moon Group Employee or Former Moon Group Employee, or by a SpinCo Employee or Former SpinCo Employee, in either case
          immediately prior to the Distribution Time, shall be adjusted by dividing such number of shares by the Moon Ratio, with the result rounded up to the extent that it includes a fractional share; the number of such adjusted Moon PSUs held by a
          SpinCo Employee or Former SpinCo Employee shall then be then prorated based on the number of days elapsed during the applicable performance period through the Distribution Date, and if the resulting product includes a fractional share, the number
          of shares underlying any Moon PSU shall be rounded up to the nearest whole share. The terms and conditions to which the Moon PSUs are subject shall otherwise be substantially the same terms and conditions before and after the Distribution Time; provided, however, that the calculations of “Earnings Per
          Share,” “Total Shareholder Return,” and “Cash Flow Return on Invested Capital” will be adjusted to appropriately reflect the Reorganization, Distribution, and Merger in a manner determined by the Committee (as such term is defined in the
          applicable Moon Stock Plan).

       

      (b)          Grant of Clover RSUs to Replace Forfeited Moon PSUs Held by SpinCo Employees. At, or as soon as practicable following, the Effective Time, each SpinCo Employee who then holds an award of Moon
          PSUs shall be granted an award of a number of Clover RSUs determined by dividing (x) by (y), where (x) equals the average number of shares of Moon Common Stock earned by such SpinCo Employee with respect to the Moon PSUs earned by such SpinCo
          Employee for each of the three years ending prior to the Closing Plan Year, measured as of the date of settlement of such awards and (y) equals the Clover Ratio, with the result rounded up to the extent that it includes a fractional share; the
          number of such Clover RSUs held by such SpinCo Employee shall then be then prorated based on the number of days remaining in the applicable performance period following the Distribution Date, and if the resulting product includes a fractional
          share, the number of shares underlying such award of Clover RSUs shall be rounded up to the nearest whole share. The award of Clover RSUs shall be subject to substantially the same terms and conditions as in effect for the corresponding award of
          Moon PSUs immediately prior to the Distribution Time; provided, however, that each Clover
          RSU shall time vest on the last day of the applicable performance period for the corresponding Moon PSU, subject to the SpinCo Employee’s continued employment with the Clover Group on such date.

       

      
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      Section 4.05          Section 16(b) of the Exchange Act. By approving the adoption of this Agreement, the respective boards of directors of each of Moon and Clover intend to exempt from the
        short-swing profit recovery provisions of Section 16(b) of the Exchange Act, by reason of the application of Rule 16b-3 thereunder, all acquisitions and dispositions of equity incentive awards by directors and officers of each of Moon and Clover,
        and the respective boards of directors of Moon and Clover also intend expressly to approve, in respect of any equity-based award, the use of any method for the payment of an exercise price and the satisfaction of any applicable Tax withholding
        (specifically including the actual or constructive tendering of shares in payment of an exercise price and the withholding of option shares from delivery in satisfaction of applicable Tax withholding requirements) to the extent that such method is
        permitted under the applicable Moon Stock Plan, the Clover Stock Plan, and any applicable award agreement.

       

      Section 4.06          Notional Shares.

       

      (a)          Treatment of Moon Notional Shares Held by Moon Group Employees and Former Moon Group Employees. Moon Notional Shares held by a Moon Group Employee or a Former Moon Group Employee immediately
          prior to the Distribution Time shall be adjusted by dividing by the Moon Ratio the number of Moon Notional Shares held by such individual. If the resulting product includes a fractional share, the number of adjusted Moon Notional Shares shall be
          rounded up to the nearest whole share. The terms and conditions (including vesting terms) to which the Moon Notional Shares are subject shall be substantially the same terms and conditions before and after the Distribution Time.

       

      (b)          Treatment of Moon Notional Shares Held by SpinCo Employees and Former SpinCo Employees. Moon Notional Shares held by any SpinCo Employee or Former SpinCo Employee immediately prior to the
          Distribution Time shall be replaced with a number of Clover notional shares (the “Clover Notional Shares”) determined by dividing by the Clover Ratio the number of Moon
          Notional Shares held by such individual. If the resulting product includes a fractional share, the number of Clover Notional Shares shall be rounded up to the nearest whole share. The Clover Notional Shares shall be subject to substantially the
          same terms and conditions (including vesting terms) as in effect for the corresponding Moon Notional Shares immediately prior to the Distribution Time.

       

      
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      Section 4.07         Liabilities for Settlement of Awards.

       

      (a)          Moon Stock Option Liabilities. Moon shall be responsible for all Liabilities associated with Adjusted Vested Moon Stock Options and Adjusted Unvested Moon Stock Options,
          including any option exercise, share delivery, registration, or other obligations related to the exercise of such options. Settlement of Adjusted Vested Moon Stock Options exercised by a SpinCo Employee or Former SpinCo Employee shall be effected
          as follows:

       

      (i)          In the case of a
          broker-assisted cashless exercise, the award holder will instruct the award administrator, who will sell the shares obtained through the exercise and who will wire the exercise price directly to Moon, wire the applicable tax withholding to
          Clover, and wire the remaining proceeds to the brokerage account of such SpinCo Employee or Former SpinCo Employee.

       

      (ii)         In the case of an
          exercise to hold shares, the award holder will instruct the award administrator and remit the exercise price to the award administrator, who will wire the exercise price directly to Moon, wire the applicable tax withholding to Clover, and credit
          the remaining shares to the brokerage account of such SpinCo Employee or Former SpinCo Employee.

       

      (b)          Clover Stock Option Liabilities. Clover shall be responsible for all Liabilities associated with Clover Stock Options exercised by a SpinCo Employee, including any option
          exercise, share delivery, registration, or other obligations related to the exercise of such options.

       

      (c)          Other Moon Award Liabilities. Moon shall be responsible for all Liabilities associated with Moon RSUs, Moon PSUs, and Moon Notional Shares, including any share delivery, registration, or
          other obligations related to the settlement of the Moon RSUs, Moon PSUs, or Moon Notional Shares.

       

      (d)          Other Clover Award Liabilities. Clover shall be responsible for all Liabilities associated with Clover RSUs and Clover Notional Shares, including any share delivery, registration, or other
          obligations related to the settlement of the Clover RSUs or Clover Notional Shares.

       

      Section 4.08         Form S-8. As of the Effective Time, Clover shall have prepared and filed with the SEC a registration statement on Form S-8 (or another appropriate form) registering under the
        Exchange Act the offering of a number of shares of Clover Common Stock at a minimum equal to the number of shares subject to the Clover RSUs and Clover Stock Options. Clover shall use commercially reasonable efforts to cause any such registration
        statement to be kept effective (and the current status of the prospectus or prospectuses required thereby to be maintained) as long as any Clover RSUs and Clover Stock Options remain outstanding.

       

      
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      Section 4.09         Tax Reporting and Withholding for Equity-Based Awards. Unless otherwise required by applicable Law, Moon (or one of its Subsidiaries) will be responsible for all income,
        payroll, fringe benefit, social, payment-on-account, and other Tax reporting related to income of or otherwise owed by Moon Group Employees, Former Moon Group Employees, or Former SpinCo Employees from equity-based awards, and Clover (or one of its
        Subsidiaries) will be responsible for all income, payroll, fringe benefit, social, payment-on-account, and other Tax reporting related to or otherwise owed on income of SpinCo Employees from equity-based awards. Similarly, Moon will be responsible
        for all income, payroll, fringe benefit, social, payment-on-account, and other Tax reporting related to or otherwise owed on income of its non-employee directors from equity-based awards. Further, Moon (or one of its Subsidiaries) shall be
        responsible for remitting applicable Tax withholdings and related payments for Moon Group Employees, Former Moon Group Employees, and Former SpinCo Employees to each applicable taxing authority, and Clover (or one of its Subsidiaries) shall be
        responsible for remitting applicable Tax withholdings and related payments for SpinCo Employees to each applicable taxing authority; provided, however, that to the extent necessary (and permissible) to effectuate the foregoing, either Moon or Clover may act as agent for the other company by remitting amounts withheld in the form of
        shares or in conjunction with an exercise transaction and related payments to an appropriate taxing authority.

       

      Section 4.10         Cooperation. Each Party acknowledges and agrees to use commercially reasonable efforts to cooperate with each other and with third-party providers to effect withholding and
        remittance of Taxes, as well as required tax reporting, in a timely, efficient, and appropriate manner to further the purposes of this ARTICLE IV, and to administer all
        employee equity awards that are outstanding immediately following the Effective Time (including all such equity awards that are adjusted in accordance with this ARTICLE IV)
        to the extent consistent with this Agreement and applicable Law, for as long as is reasonably necessary.

       

      ARTICLE V

       

      LABOR AND EMPLOYMENT MATTERS

       

      Notwithstanding any other provision of this Agreement or any other agreement between Clover, SpinCo, and/or Moon to the contrary, the Parties
        understand and agree as follows:

       

      Section 5.01          Collective Bargaining Agreements.

       

      (a)          Agreement to Minimize Labor Disruptions. With regard to Employees of Moon and its Subsidiaries covered by a Collective Bargaining Agreement immediately prior to the Distribution Date, the
          Parties covenant to cooperate with each other to avoid any action that could, on a reasonably foreseeable basis, disrupt or otherwise negatively impact the labor relations of any other Party (or their respective Affiliates).

       

      
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      (b)          Assumption of Collective Bargaining Agreements. As of or prior to the Distribution Date, SpinCo shall have retained or assumed, or shall have caused a SpinCo Entity to retain or assume, each
          Collective Bargaining Agreement covering SpinCo Employees, and no Moon Entity shall have any further Liability thereunder. Prior to the Distribution Date, Moon shall have complied and caused its Affiliates to comply, in all material respects,
          with all of the terms and conditions set forth in each such Collective Bargaining Agreement and with applicable Laws covering Moon’s and any Moon Affiliate’s Employees, including but not
          limited to the fulfillment of any labor- or employment-related notice, information, or consultation requirements relating to the matters contemplated hereby.

       

      Section 5.02          WARN Obligations. Before and after the Effective Time, each Party shall have complied in all material respects with the Worker Adjustment and Retraining Notification Act and
        similar state and local Laws (“WARN”). As of the Effective Time, Clover and its Affiliates shall be responsible for all obligations and Liabilities under WARN relating to
        the SpinCo Employees arising from mass layoffs or plant closings (each as defined under WARN) occurring as of or after the Effective Time, and Moon shall be responsible for all obligations and Liabilities under WARN relating to the SpinCo Employees
        arising from mass layoff or plant closings (each as defined under WARN) occurring prior to the Effective Time and all obligations and Liabilities under WARN relating to Former SpinCo Employees.

       

      ARTICLE VI

       

      RESTRICTIVE COVENANTS RELATING TO EMPLOYEES

       

      Section 6.01         Non-Solicitation and No-Hiring by Clover. Clover agrees that, from and after the date hereof until the date that is eighteen (18) months after the Effective Time,
        it shall not, and shall cause its Subsidiaries (including following the Effective Time the SpinCo Entities) not to, without the prior written consent of Moon, directly or indirectly, solicit or offer to hire or hire any Moon Group Employee or
        Former Moon Group Employee, or otherwise cause or seek to cause any Moon Group Employee to leave the employ of Moon or any of its Affiliates, or enter into a consulting agreement with any Moon Group Employee or Former Moon Group Employee; provided, however, that (a) the placement of any general mass solicitation, advertising, or
        recruiting consultant search that is not targeted at Moon Group Employees or Former Moon Group Employees and that does not result in the hiring of such individuals responding to such efforts shall not be considered a violation of this Section 6.01; and (b) this Section 6.01 shall not preclude Clover or its Subsidiaries from
        soliciting, offering to hire, hiring, or entering into a consulting agreement with, any Moon Group Employee or Former Moon Group Employee whose employment with Moon or any of its Affiliates has been terminated involuntarily by Moon or any of its
        Affiliates or any person from and after six (6) months after the termination of his or her employment with Moon or any of its Affiliates.

       

      
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      Section 6.02         Non-Solicitation and No-Hire by Moon. Moon agrees that, from and after the date hereof until the date that is eighteen (18) months after the Distribution Date, it
        shall not, and shall cause its Subsidiaries not to, without the prior written consent of Clover, directly or indirectly, solicit or offer to hire or hire any current or former Employees of Clover or any of its Affiliates (which, following the
        Effective Time, shall include the SpinCo Employees and Former SpinCo Employees), or otherwise cause or seek to cause any current or former Employees of Clover or its Subsidiaries (which, following the Effective Time, shall include the SpinCo
        Employees and Former SpinCo Employees) to leave the employ of Clover or any of its Affiliates, or enter into a consulting agreement with any current or former Employee of Clover or any of its Subsidiaries (which, following the Effective Time, shall
        include the SpinCo Employees and Former SpinCo Employees); provided, however, that (a) the
        placement of any general mass solicitation, advertising, or recruiting consultant search that is not targeted current or former at Employees of Clover and its Subsidiaries and that does not result in the hiring of such individuals responding to
        such efforts shall not be considered a violation of this Section 6.02; and this Section 6.02
        shall not preclude Moon or its Subsidiaries from soliciting, offering to hire, hiring, or entering into a consulting agreement with, any current or former Employee of Clover and its Subsidiaries whose employment with Clover or any of its
        Subsidiaries has been terminated involuntarily by Clover or any of its Subsidiaries or any person from and after six (6) months after the termination of his or her employment with Clover or any of its Subsidiaries.

       

      Section 6.03         Restrictive Covenants in Employment and Other Agreements. To the fullest extent permitted by the agreements described in this Section 6.03 and applicable Law, Moon shall, or shall cause its Affiliate to, assign to a SpinCo Entity, as designated by Clover, all agreements containing restrictive
        covenants (including confidentiality, non-competition, and non-solicitation provisions) between a Moon Entity and SpinCo Employee or a Former SpinCo Employee, with such assignment to be effective as of the Distribution Time. To the extent that
        assignment of such agreements is not permitted, effective as of the Distribution Time, a SpinCo Entity shall be considered to be a successor to the applicable Moon Entity for purposes of, and a third-party beneficiary with respect to, all such
        agreements, such that each Clover Entity shall enjoy all the rights and benefits under such agreements (including rights and benefits as a third-party beneficiary), with respect to the SpinCo Business; provided, however, that in no event shall any SpinCo Entity (or, following the Effective Time, any Clover Entity) be permitted to
        enforce such restrictive covenant agreements against a SpinCo Employee or a Former SpinCo Employee for actions taken in their capacity as employees of Moon or any of its Subsidiaries (including, prior to the Distribution Date, the SpinCo Entities).

       

      ARTICLE VII

       

      EMPLOYER RECORDS

       

      Section 7.01         Sharing of Information. Subject to any limitations imposed by applicable Law, Moon and Clover (acting directly or through members of the Moon Group or the Clover Group,
        respectively) shall provide to the other and their respective agents and vendors all information necessary for the Parties to perform their respective duties under this Agreement. The Parties also hereby agree to enter into any business associate
        arrangements that may be required for the sharing of any information pursuant to this Agreement to comply with the requirements of HIPAA.

       

      
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      Section 7.02         Transfer of Personnel Records and Authorization. Subject to any limitation imposed by applicable Law, prior to the Distribution Date, Moon shall have transferred and assigned
        to SpinCo all personnel records, all immigration documents, including I-9 forms and work authorizations, all payroll deduction authorizations and elections, whether voluntary or mandated by Law, including but not limited to W-4 forms and deductions
        for benefits under the applicable Moon Benefit Plan, and all absence-management records, Family and Medical Leave Act records, insurance beneficiary designations, flexible spending account and dependent care account enrollment confirmations,
        attendance, and return-to-work information relating to SpinCo Employees and Former SpinCo Employees who participate in Moon Benefit Plans (“Benefit Management Records”).
        Subject to any limitations imposed by applicable Law, Moon, however, may retain originals of, copies of, or access to personnel records, immigration records, payroll forms, and Benefit Management Records as long as necessary to provide services to
        SpinCo (acting on its behalf pursuant to the Transition Services Agreement between the Parties entered into as of the date of this Agreement). Immigration records will, if and as appropriate, become a part of SpinCo’s public access file. SpinCo
        will use personnel records, payroll forms, and Benefit Management Records for lawful purposes only, including calculation of withholdings from wages and personnel management. It is understood that, following the Distribution Date, Moon records so
        transferred and assigned may be maintained by SpinCo (acting directly or through one of its Subsidiaries) pursuant to SpinCo’s applicable records retention policy.

       

      Section 7.03         Access to Records. SpinCo shall provide Moon with reasonable access to those records necessary for its administration of any Benefit Plans or programs, or employment and
        compensation matters, on behalf of SpinCo Employees and Former SpinCo Employees after the Distribution Time as permitted by any applicable privacy protection Laws and regulations, Privacy Contracts, and the Moon Data Protection and Privacy Policy.
        Moon shall also be permitted to retain copies of all restrictive covenant agreements with any SpinCo Employee in which any member of the Moon Group has a valid business interest. In addition, Moon shall provide SpinCo with reasonable access to
        those records necessary for its administration of any Benefit Plans or programs, or employment and compensation matters, on behalf of SpinCo Employees or Former SpinCo Employees after the Distribution Time as permitted by any applicable privacy
        protection Laws, regulations, and Privacy Contracts. SpinCo shall also be permitted to retain copies of all restrictive covenant agreements with any Moon Group Employee or Former Moon Group
        Employee in which any member of the SpinCo Group has a valid business interest.

       

      Section 7.04         Maintenance of Records. With respect to retaining, destroying, transferring, sharing, copying, and permitting access to all Employee-related

        information, Moon and SpinCo shall comply with all applicable Laws, regulations, and internal policies, and shall indemnify and hold harmless each other from and against any and all Liabilities, claims, actions, and damages that arise from a
        failure (by the indemnifying party or its Subsidiaries or their respective agents) to so comply with all applicable Laws, regulations, Privacy Contracts, and internal policies applicable to such information.

       

      
        37

        
          

      

      Section 7.05         Confidentiality. Except as otherwise set forth in this Agreement, all records and data relating to Employees shall, in each case, be subject to the confidentiality provisions
        of the Separation Agreement and any other applicable agreement and applicable Law, and the provisions of this Section 7.05 shall be in addition to, and not in derogation
        of, the provisions of the Separation Agreement governing confidential information, including Section 7.2 of the Separation Agreement.

       

      Section 7.06         Cooperation. Each Party shall use commercially reasonable efforts to cooperate to share, retain, and maintain data and records that are necessary or appropriate to further the
        purposes of this ARTICLE VII and for each Party to administer its respective Benefit Plans to the extent consistent with this Agreement and applicable Law, and each Party
        agrees to cooperate as long as is reasonably necessary to further the purposes of this ARTICLE VII. No Party shall charge another Party a fee for such cooperation.

       

      ARTICLE VIII

       

      REMEDIES

       

      Section 8.01         Indemnification. Any breach of this Agreement by any Party or any indemnification obligation under this Agreement shall be subject to the provisions set forth in Article VI of the Separation Agreement, which shall apply to this Agreement as if incorporated herein in their entirety.

       

      Section 8.02         Enforcement. The Parties agree that irreparable damage would occur, and that the Parties would not have any adequate remedy at Law, if any of the provisions of this Agreement
        were not performed in accordance with its specific terms or were otherwise breached. It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to specifically enforce the
        terms and provisions of this Agreement, without proof of actual damages or otherwise, in addition to any other remedy to which any Party is entitled at Law or in equity. Each Party agrees to waive any requirement for the securing or posting of any
        bond in connection with such remedy. The Parties further agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law, or inequitable for any reason, nor to assert that a remedy of monetary damages would
        provide an adequate remedy.

       

      ARTICLE IX

       

      MISCELLANEOUS

       

      Section 9.01         Relationship of Parties. Nothing in this Agreement shall be deemed or construed by the Parties or any third party as creating the relationship of principal and agent,
        partnership, or joint venture between the Parties, it being understood and agreed that no provision contained herein, and no act of the Parties, shall be deemed to create any relationship between the Parties other than the relationship set forth
        herein.

       

      
        38

        
          

      

      Section 9.02         Attorney-Client Privilege. The provisions herein requiring the Parties to cooperate shall not be deemed to be a waiver of the attorney-client privilege for the Parties nor
        shall it require the Parties to waive their attorney-client privilege. In the event of any conflict between the applicable terms of the Separation Agreement or the Merger Agreement and the terms of this Agreement with respect to matters relating to
        attorney-client privilege, the work product doctrine, and all other evidentiary privileges and non-disclosure doctrines, the applicable terms of the Merger Agreement or the Separation Agreement, as applicable, shall prevail.

       

      Section 9.03         Assignment. No Party shall assign this Agreement or any part hereof without the prior written consent of the other Parties. Subject to the foregoing, this Agreement shall be
        binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns.

       

      Section 9.04         Rights of Third Parties. Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the Parties, any right
        or remedies under or by reason of this Agreement.

       

      Section 9.05         Captions. The captions in this Agreement are inserted for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision
        of this Agreement.

       

      Section 9.06         Severability of Provisions. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement
        shall remain in full force and effect. The Parties further agree that if any provision contained herein is, to any extent, held invalid or unenforceable in any respect under the Laws governing this Agreement, they shall take any actions necessary
        to render the remaining provisions of this Agreement valid and enforceable to the fullest extent permitted by Law and, to the extent necessary, shall amend or otherwise modify this Agreement to replace any provision contained herein that is held
        invalid or unenforceable with a valid and enforceable provision giving effect to the intent of the Parties.

       

      Section 9.07         Notices. All notices, consents, approvals, and other communications among the Parties shall be in writing and shall be deemed to have been duly given (i) when delivered in
        person, (ii) when delivered after posting in the United States mail, having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery service,
        (iv) when delivered by facsimile, or (v) when delivered by email (so long as the sender of such email does not receive an automatic reply from the recipient’s email server indicating that the recipient did not receive such email), addressed as
        follows:

       

      
        39

        
          

      

      If to Moon or, on or prior to the Distribution Date, to SpinCo, then to:

       

      Ingersoll-Rand plc

      170/175 Lakeview Dr.

      Airside Business Park

      Swords, Co. Dublin

      Ireland

      Attention: Evan Turtz, General Counsel

      Email: evan_turtz@irco.com

      

      

      with a copy (which shall not constitute notice) to:

      Paul, Weiss, Rifkind, Wharton & Garrison LLP

      1285 Avenue of the Americas

      New York, NY 10019

      
        	 	
                Attention:

              	
                Scott A. Barshay

                
                  Steven J. Williams

                

              

      

      	 	Email

            	
              sbarshay@paulweiss.com; swilliams@paulweiss.com

            

       

      

      and, in the case of SpinCo, with a copy to:

       

      Ingersoll-Rand U.S. HoldCo, Inc.

      c/o Ingersoll-Rand Company

      800-E Beaty Street

      Davidson, NC 28036

      Attention: Evan Turtz, General Counsel

      Email: evan_turtz@irco.com

      

      

      with a copy (which shall not constitute notice) to:

      Simpson Thacher & Bartlett LLP

      425 Lexington Avenue

      New York, NY 10014

      
        
          	 	
                  Attention:

                	
                  Marni Lerner

                  
                    
                      Mark Pflug

                    

                  

                

        

        	 	Email

              	
                mlerner@stblaw.com; mpflug@stblaw.com

              

         

      

      If to Clover or, following the Distribution Date, to SpinCo, then to:

       

      Gardner Denver Holdings, Inc.

      222 East Erie Street, Suite 500

      Milwaukee, Wisconsin 53202

      Attention: Andy Schiesl, General Counsel

      Email: andy.schiesl@gardnerdenver.com

       

      
        40

        
          

      

      with a copy (which shall not constitute notice) to:

       

      Simpson Thacher & Bartlett LLP

      425 Lexington Avenue

      New York, NY 10014

      
        
          
            	 	
                    Attention:

                  	
                    Marni Lerner

                    
                      
                        Mark Pflug

                      

                    

                  

          

          	 	Email

                	
                  mlerner@stblaw.com; mpflug@stblaw.com

                

        

      

       

      or to such other address or addresses as the Parties may from time to time designate in writing.

       

      Section 9.08         Further Assurances. Each Party agrees that it will execute and deliver or cause its respective Affiliates to execute and deliver such further instruments, and take (or cause
        their respective Affiliates to take) such other actions, as may be reasonably necessary to carry out the purpose and intent of this Agreement.

       

      Section 9.09         Amendment; Waiver. This Agreement may be amended or modified in whole or in part only by a duly authorized agreement in writing executed by the Parties in the same manner as
        this Agreement and that makes reference to this Agreement. Any Party may waive any of the terms or conditions of this Agreement in writing executed in the same manner (but not necessarily by the same Persons) as this Agreement. No waiver by any of
        the Parties of any of the provisions hereof shall be effective unless explicitly set forth in writing and executed by the Party sought to be charged with such waiver. No waiver by any of the Parties of any default, misrepresentation, or breach of
        warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior
        or subsequent such occurrence.

       

      Section 9.10         Governing Law. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby, shall be
        governed by, and construed in accordance with, the Laws of the State of Delaware, without giving effect to principles or rules of conflict of Laws to the extent that such principles or rules would require or permit the application of Laws of
        another jurisdiction.

       

      Section 9.11         Consent to Jurisdiction; Waiver of Jury Trial.

       

      (a)          Jurisdiction. Any Action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby shall be brought exclusively in the Court of Chancery of the State of
          Delaware, or, if it cannot acquire jurisdiction, in any federal court of the United States of America sitting in Delaware, and, in each case, appellate courts therefrom, and each of the Parties irrevocably submits to the exclusive jurisdiction of
          each such court in any such Action, waives any objection it may now or hereafter have to personal jurisdiction, venue, or convenience of forum, agrees that all claims in respect of the Action shall be heard and determined only in such courts, and
          agrees not to bring any Action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court. Nothing herein contained shall be deemed to affect the right of any Party to serve process in any manner
          permitted by Law or to commence legal proceedings or otherwise proceed against any other Party in any other jurisdiction, in each case, to enforce judgments obtained in any action, suit, or proceeding brought pursuant to this Section 9.11(a).

       

      
        41

        
          

      

      (b)          Waiver of Jury Trial. Each Party hereby waives, to the fullest extent permitted by applicable Law, any right that it may have to a trial by jury in respect of any Action arising out of this
          Agreement or the transactions contemplated hereby. Each Party (i) certifies that no Representative of any other Party has represented, expressly or otherwise, that such Party would not, in the event of any Action, seek to enforce the foregoing
          waiver and (ii) acknowledges that it and the other Parties have been induced to enter into this Agreement by, among other things, the mutual waiver and certifications in this Section

              9.11.

       

      Section 9.12         Entire Agreement. This Agreement, the Separation Agreement, and the Merger Agreement constitute the entire agreement among the Parties relating to the transactions
        contemplated hereby and supersede all other agreements, whether written or oral, that may have been made or entered into by or among any of the Parties or any of their respective Affiliates relating to the transactions contemplated hereby. No
        representations, warranties, covenants, understandings, agreements, oral or otherwise, relating to the transactions contemplated by this Agreement exist between the Parties, except as expressly set forth in this Agreement, the Separation Agreement,
        and the Merger Agreement.

       

      Section 9.13         Counterparts. This Agreement may be executed in two or more counterparts (including by electronic or .pdf transmission), each of which shall be deemed an original, but all of
        which together shall constitute one and the same instrument. Delivery of any signature page by facsimile, electronic or .pdf transmission shall be binding to the same extent as an original signature page.

       

      Section 9.14         Expenses. Each Party shall bear its own expenses incurred in connection with this Agreement and the transactions herein contemplated whether or not such transactions shall be
        consummated, including all fees of its legal counsel, financial advisers, and accountants.

       

      [Remainder of page intentionally left blank]

       

      
        42

        
          

      

      IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

       

      	 	
              INGERSOLL-RAND PLC

            
	 	 
	 	
              By:

            	/s/ Sara W. Brown
	 	 	
              Name:  Sara W. Brown

            
	 	 	
              Title:    Assistant Secretary

            
	 	 	 
	 	
              INGERSOLL-RAND U.S. HOLDCO, INC.

            
	 	 
	 	
              By:

            	/s/ Sara W. Brown
	 	 	
              Name:  Sara W. Brown

            
	 	 	
              Title:    Assistant Secretary

            
	 	 	 
	 	
              GARDNER DENVER HOLDINGS, INC.

            
	 	 
	 	
              By:

            	
              /s/ Andrew Schiesl

            
	 	 	
              Name: Andrew Schiesl

            
	 	 	
              Title: Vice President, General Counsel, Chief Compliance Officer and Secretary

            

      

      

      [Signature Page to Employee Matters Agreement]

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