Document:

EX-10.3

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 Exhibit 10.3 

EMPLOYEE MATTERS AGREEMENT 
 by
and between 
 DTE ENERGY COMPANY 

and 
 DT MIDSTREAM, INC. 

Dated as of [                ], 2021 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 TABLE OF CONTENTS 
  

							
	 	  	 Page
	 
	
	 ARTICLE I
	  

	
	 DEFINITIONS
	  

			
	 SECTION 1.01.
	 	 Definitions
..........................................................................................................................................

	  	 	1	 
	 SECTION 1.02.
	 	 Interpretation
.......................................................................................................................................

	  	 	6	 
	
	 ARTICLE II
	  

	
	 ASSIGNMENT OF EMPLOYEES
	  

			
	 SECTION 2.01.
	 	 Transferred Employees
...........................................................................................................................

	  	 	6	 
	 SECTION 2.02.
	 	 Listed Employees
.................................................................................................................................

	  	 	7	 
	 SECTION 2.03.
	 	 Non-Employment Obligation
....................................................................................................................
	  	 	7	 
	
	 ARTICLE III
	  

	
	 PENSION, RETIREMENT AND DEFERRED COMPENSATION
PLANS
	  

			
	 SECTION 3.01.
	 	 Qualified Defined Contribution Plans
..........................................................................................................
	  	 	7	 
	 SECTION 3.02.
	 	 Qualified Defined Benefit Pension Plans
......................................................................................................
	  	 	9	 
	 SECTION 3.03.
	 	 Nonqualified Deferred Compensation Plans
...................................................................................................
	  	 	9	 
	
	 ARTICLE IV
	  

	
	 WELFARE PLANS
	  

			
	 SECTION 4.01.
	 	 Establishment of the DT Midstream Welfare Plans
..........................................................................................
	  	 	10	 
	 SECTION 4.02.
	 	 Coverage of DT Midstream Employees
........................................................................................................
	  	 	10	 
	 SECTION 4.03.
	 	 Welfare Plan Liabilities
...........................................................................................................................
	  	 	11	 
	 SECTION 4.04.
	 	 Disability
............................................................................................................................................

	  	 	11	 
	 SECTION 4.05.
	 	 Workers’ Compensation Claims
.................................................................................................................
	  	 	12	 
	 SECTION 4.06.
	 	 COBRA
.............................................................................................................................................

	  	 	12	 
	 SECTION 4.07.
	 	 Flexible Spending Accounts; Vacation Buy
....................................................................................................
	  	 	12	 
	 SECTION 4.08.
	 	 Health Savings Accounts
...........................................................................................................................
	  	 	13	 
	 SECTION 4.09.
	 	 Retiree Welfare Plans
...............................................................................................................................
	  	 	13	 
	
	 ARTICLE V
	  

	
	 CERTAIN OTHER ARRANGEMENTS
	  

			
	 SECTION 5.01.
	 	 Other DT Midstream Benefit Arrangements
.....................................................................................................
	  	 	13	 
	 SECTION 5.02.
	 	 No Change in Control
...............................................................................................................................
	  	 	14	 

  
 i 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

							
	 SECTION 5.03.
	 	 Annual Bonuses
....................................................................................................................................

	  	 	14	 
	 SECTION 5.04.
	 	 Severance
............................................................................................................................................

	  	 	14	 
	
	 ARTICLE VI
	  

	
	 STOCK PLANS
	  

			
	 SECTION 6.01.
	 	 DT Midstream Stock Plan
........................................................................................................................
	  	 	14	 
	 SECTION 6.02.
	 	 Restricted Stock Awards Held by DT Midstream Employees
...............................................................................
	  	 	15	 
	 SECTION 6.03.
	 	 Performance Share Awards Held by DT Midstream Employees
............................................................................
	  	 	15	 
	 SECTION 6.04.
	 	 Approval and Terms of Equity Awards
.........................................................................................................
	  	 	16	 
	
	 ARTICLE VII
	  

	
	 COMPENSATION MATTERS AND GENERAL BENEFIT
MATTERS
	  

			
	 SECTION 7.01.
	 	 Cessation of Participation in DTE Energy Benefit Plans
.....................................................................................
	  	 	17	 
	 SECTION 7.02.
	 	 Assumption of Certain Employee Related Obligations
........................................................................................
	  	 	17	 
	 SECTION 7.03.
	 	 Restrictive Covenants in Employment and Other Agreements
...............................................................................
	  	 	18	 
	 SECTION 7.04.
	 	 Past Service Credit
..................................................................................................................................

	  	 	18	 
	 SECTION 7.05.
	 	 Accrued Vacation and Other Paid Time Off
....................................................................................................
	  	 	18	 
	 SECTION 7.06.
	 	 Leaves of Absence
.................................................................................................................................

	  	 	19	 
	 SECTION 7.07.
	 	 DTE Energy Assets
................................................................................................................................

	  	 	19	 
	 SECTION 7.08.
	 	 Further Cooperation; Personnel Records; Data Sharing
......................................................................................
	  	 	19	 
	 SECTION 7.09.
	 	 Tax Deductions
.....................................................................................................................................

	  	 	19	 
	
	 ARTICLE VIII
	  

	
	 GENERAL PROVISIONS
	  

			
	 SECTION 8.01.
	 	 Employment and Plan Rights
......................................................................................................................
	  	 	20	 
	 SECTION 8.02.
	 	 Confidentiality
.......................................................................................................................................

	  	 	20	 
	 SECTION 8.03.
	 	 Administrative Complaints/Litigation
............................................................................................................
	  	 	20	 
	 SECTION 8.04.
	 	 Reimbursement and Indemnification
.............................................................................................................
	  	 	21	 
	 SECTION 8.05.
	 	 Entire Agreement
...................................................................................................................................

	  	 	21	 
	 SECTION 8.06.
	 	 Section 409A
........................................................................................................................................

	  	 	21	 
	 SECTION 8.07.
	 	 Amendment
...........................................................................................................................................

	  	 	21	 
	 SECTION 8.08.
	 	 Waiver
.................................................................................................................................................

	  	 	21	 
	 SECTION 8.09.
	 	 Execution in Counterparts
..........................................................................................................................
	  	 	22	 
	 SECTION 8.10.
	 	 No Third-Party Beneficiaries
.....................................................................................................................
	  	 	22	 
	 SECTION 8.11.
	 	 Notices
................................................................................................................................................

	  	 	22	 
	 SECTION 8.12.
	 	 Force Majeure
........................................................................................................................................

	  	 	22	 
	 SECTION 8.13.
	 	 No Public Announcement
..........................................................................................................................
	  	 	22	 
	 SECTION 8.14.
	 	 Limited Liability
.................................................................................................................................
 ...
	  	 	22	 
	 SECTION 8.15.
	 	 Effect if Distribution Does Not Occur
..........................................................................................................
	  	 	23	 
	 SECTION 8.16.
	 	 Miscellaneous
..................................................................................................................................
 ......
	  	 	23	 

  

							
	 Schedule A
	 	 -    Listed Employees
	  			

  
 ii 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 EMPLOYEE MATTERS AGREEMENT, dated as of
[                ], 2021 by and between DTE ENERGY COMPANY, a Michigan corporation (“DTE Energy”), and DT MIDSTREAM, INC., a Delaware corporation and
wholly owned subsidiary of DTE Energy (“DT Midstream”). 
 WHEREAS, concurrently with the execution of this Agreement, DTE
Energy and DT Midstream are entering into a Separation and Distribution Agreement (the “Distribution Agreement”), pursuant to which DTE Energy shall distribute on a pro rata basis to the holders of shares of DTE Energy common
stock, without par value (“DTE Energy Shares”), its entire interest in DT Midstream by way of a dividend of all shares of DT Midstream common stock, par value $0.01 per share (“DT Midstream Shares”), owned by DTE
Energy as of the Distribution Date (as defined in the Distribution Agreement); and 
 WHEREAS, in connection with the Distribution (as
defined in the Distribution Agreement), DTE Energy and DT Midstream desire to enter into this Agreement. 
 NOW, THEREFORE, in consideration
of the mutual promises contained herein and in the Distribution Agreement, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 
 SECTION
1.01. Definitions. Unless otherwise defined herein, each capitalized term shall have the meaning specified for such term in the Distribution Agreement. As used in this Agreement: 

“2021 AIP Award” has the meaning set forth in Section 5.03. 

“2021 DT Midstream Annual Award” has the meaning set forth in Section 5.03. 

“2021 REP Award” has the meaning set forth in Section 5.03. 

“Agreement” means this Employee Matters Agreement together with those parts of the Distribution Agreement referenced herein
and all schedules hereto and all amendments, modifications and changes hereto and thereto. 
 “Benefit Plan” means any
plan, program, policy, agreement, arrangement or understanding that is an employment, consulting, deferred compensation, executive compensation, incentive bonus or other bonus, employee pension, profit sharing, savings, retirement, supplemental
retirement, stock option, stock purchase, stock appreciation right, restricted stock, restricted stock unit, deferred stock unit, other equity-based compensation, severance pay, retention, change in control, salary continuation, life, death benefit,
health, hospitalization, workers’ compensation, sick leave, vacation pay, child bonding leave, educational assistance, disability or accident insurance or other employee compensation or benefit plan, program, agreement or arrangement, including
any “employee benefit plan” (as defined in Section 3(3) of ERISA) (whether or not subject to ERISA) sponsored, maintained or contributed to by such entity or to which such entity is a party. 

  
 1 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 “Business Employee” means (a) each individual who immediately prior to
the Distribution Date is employed by the DT Midstream Group, including each Transferred Employee and including any individual who is not actively at work due to a leave of absence (including vacation, holiday, child bonding, adoption or similar
family-related leave, illness, injury or short-term disability) from which such employee is permitted to return to active employment in accordance with the DT Midstream Group’s personnel policies, as in effect from time to time, or applicable
Law and (b) each former employee of the DTE Energy Group, the DT Midstream Group or a former entity owned, in whole or in part, by the DT Midstream Group whose last employment with any of such parties immediately prior to termination (before
the Distribution Date) was with the DT Midstream Group or a former entity owned, in whole or in part, by the DT Midstream Group. 

“COBRA” means the U.S. Consolidated Omnibus Budget Reconciliation Act of 1985, as amended from time to time, and any
applicable similar state or local laws. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 “Determination” has the meaning set forth in the TMA. 

“Distribution Agreement” has the meaning set forth in the recitals of this Agreement. 

“DT Midstream” has the meaning set forth in the preamble of this Agreement. 

“DT Midstream 2019 Performance Share Award” has the meaning set forth in Section 6.03(a). 

“DT Midstream 2020 Performance Share Award” has the meaning set forth in Section 6.03(b). 

“DT Midstream AIP” has the meaning set forth in Section 5.03. 

“DT Midstream Benefit Plan” means any Benefit Plan sponsored, maintained or contributed to by any member of the DT Midstream
Group or to which any member of the DT Midstream Group is party on or after the Distribution Date. 
 “DT Midstream Corporate
Employee” means any DT Midstream Employee who was a Transferred Employee. 
 “DT Midstream Corporate Employee Compensation
Deduction” means any income Tax deduction arising after the Distribution Date with respect to any DT Midstream Corporate Employee with respect to the DTE Energy Savings Plan, the DTE Energy Pension Plan, any DTE Energy Deferred Compensation
Plan or any DTE Energy Welfare Plan. 
 “DT Midstream Employee” means an individual who is employed by the DT Midstream
Group immediately following the Distribution Date, including any individual who is not actively at work due to a leave of absence (including vacation, holiday, illness, child bonding, adoption or similar family-related leave, illness, injury or
short-term disability) from which such employee is permitted to return to active employment in accordance with the DT Midstream Group’s personnel policies, as in effect from time to time, or applicable Law. 

  
 2 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 “DT Midstream Equity Compensation Deduction” means any income Tax deduction
arising after the Distribution Date with respect to any Substitute DT Midstream RSU Award, Substitute DT Midstream Performance Share Award, DT Midstream 2019 Performance Share Award or DT Midstream 2020 Performance Share Award. 

“DT Midstream FSA” has the meaning set forth in Section 4.07. 

“DT Midstream Legacy Employee” means any DT Midstream Employee who was employed by a member of the DT Midstream Group
immediately before the Distribution Date and who was not a Transferred Employee. 
 “DT Midstream Legacy Employee Compensation
Deduction” means any income Tax deduction arising after the Distribution Date with respect to any DT Midstream Legacy Employee with respect to the DTE Energy Savings Plan, the DTE Energy Pension Plan, any DTE Energy Deferred Compensation
Plans or any DTE Energy Welfare Plans. 
 “DT Midstream Plan HSA” has the meaning set forth in Section 4.08. 

“DT Midstream Post-Distribution Stock Price” means the per share price of DT Midstream Shares, which shall be equal to the
average of the volume weighted average price of DT Midstream Shares, traded on a when-issued basis, for each of the three consecutive trading days immediately preceding the Distribution Date. 

“DT Midstream REP” has the meaning set forth in Section 5.03. 

“DT Midstream Savings Plan” has the meaning set forth in Section 3.01(a). 

“DT Midstream Savings Plan Trust” means the trust maintained under the DT Midstream Savings Plan. 

“DT Midstream Shares” has the meaning set forth in the recitals of this Agreement. 

“DT Midstream Stock Plan” has the meaning set forth in Section 6.01. 

“DT Midstream VB” has the meaning set forth in Section 4.07. 

“DT Midstream Welfare Plans” has the meaning set forth in Section 4.01. 

“DT Midstream Workers’ Compensation Plan” has the meaning set forth in Section 4.05. 

“DTE Energy” has the meaning set forth in the preamble of this Agreement. 

  
 3 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 “DTE Energy Benefit Plan” means any Benefit Plan sponsored, maintained or
contributed to by any member of the DTE Energy Group or to which any member of the DTE Energy Group is party. 
 “DTE Energy
Deferred Compensation Plans” means the DTE Energy Company Supplemental Savings Plan, the DTE Energy Company Executive Supplemental Retirement Plan, the DTE Energy Company Supplemental Retirement Plan and the DTE Energy Company Executive
Deferred Compensation Plan. 
 “DTE Energy Equity Compensation Deduction” means any income Tax deduction arising after the
Distribution Date (a) with respect to any DTE Energy Restricted Share Award, DTE Energy Performance Share Award or DTE Energy Phantom Share Award, in each case, that is held as of immediately prior to the Distribution by any Person who does not
become a DT Midstream Employee or (b) with respect to any Vested 2019 DTE Energy Performance Share Award or Vested 2020 DTE Energy Performance Share Award. 

“DTE Energy FSA” has the meaning set forth in Section 4.07. 

“DTE Energy Pension Plan” means the DTE Energy Company Retirement Plan. 

“DTE Energy Performance Share Award” means a performance share award granted under the DTE Energy Stock Plan and outstanding
prior to the Distribution Date. 
 “DTE Energy Phantom Share Award” means a share of phantom stock granted under the DTE
Energy Stock Plan and outstanding as of the Distribution Date. 
 “DTE Energy Plan HSA” has the meaning set forth in
Section 4.08. 
 “DTE Energy Post-Distribution Stock Price” means the per share price of DTE Energy Shares, determined
on a post-Distribution basis, which shall be equal to the average of the volume weighted average price of DTE Energy Shares, traded on a when-issued basis, for each of the three consecutive trading days immediately preceding the Distribution Date.

 “DTE Energy Pre-Distribution Stock Price” means the per share price of DTE
Energy Shares, determined on a pre-Distribution basis, which shall be equal to the average of the volume weighted average price of DTE Energy Shares, traded with due bills, for each of the three consecutive
trading days immediately preceding the Distribution Date. 
 “DTE Energy Restricted Stock Award” means a DTE Energy Share
that is subject to forfeiture, granted under the DTE Energy Stock Plan and outstanding as of the Distribution Date. 
 “DTE Energy
Retiree Welfare Plans” means the DTE Energy Company Comprehensive Retiree Group Health Care Plan, the DTE Energy Company Comprehensive Non-Health Welfare Benefit Plan, the DTE Supplemental Retiree
Benefit Plan, and the DTE Energy Retiree Reimbursement Arrangement Plan. 

  
 4 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 “DTE Energy Savings Plan” means the DTE Energy Company Savings and Stock
Ownership Plan. 
 “DTE Energy Shares” has the meaning set forth in the recitals of this Agreement. 

“DTE Energy Stock Plan” means the DTE Energy Company Long-Term Incentive Plan, as amended and restated from time to time.

 “DTE Energy VB” has the meaning set forth in Section 4.07. 

“DTE Energy Welfare Plan” means a Welfare Plan that is a DTE Energy Benefit Plan. 

“DTE Energy Workers’ Compensation Plan” means any workers’ compensation plan that is a DTE Energy Benefit Plan.

 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

“Forfeited 2019 DTE Energy Performance Share Award” has the meaning set forth in Section 6.03(a). 

“Forfeited 2020 DTE Energy Performance Share Award” has the meaning set forth in Section 6.03(b). 

“IRS” means the Internal Revenue Service. 

“Listed Employees” has the meaning set forth in Section 2.02. 

“Offer Employee Transfer Date” means the date following the Distribution Date on which a Listed Employee commences employment
with the DT Midstream Group. 
 “Pension Plan” means any Benefit Plan that is a pension plan as defined in
Section 3(2) of ERISA, without regard to Section 4(b)(4) or 4(b)(5) of ERISA. 
 “Substitute DT Midstream Performance
Share Award” has the meaning set forth in Section 6.03(c). 
 “Substitute DT Midstream RSU Award” has the
meaning set forth in Section 6.02. 
 “Tax” has the meaning set forth in the TMA. 

“Transferred Employee” means each employee of the DTE Energy Group whose employment shall have been transferred from the DTE
Energy Group to the DT Midstream Group prior to the Distribution Date. 

  
 5 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 “Vested 2019 DTE Energy Performance Share Award” has the meaning set forth
in Section 6.03(a). 
 “Vested 2020 DTE Energy Performance Share Award” has the meaning set forth in
Section 6.03(b). 
 “Welfare Plan” means any Benefit Plan that is an employee welfare plan as defined in
Section 3(1) of ERISA, without regard to Section 4(b)(4) or 4(b)(5) of ERISA. 
 “Workers Compensation Event”
means the event, injury, illness or condition giving rise to a workers’ compensation claim with respect to a DT Midstream Employee. 

SECTION 1.02. Interpretation. (a) Words in the singular shall be held to include the plural and vice versa and words of one gender
shall be held to refer to any gender identity as the context requires. The terms “hereof,” “herein,” “herewith” and words of similar import, unless otherwise stated, shall be construed to refer to this Agreement as
a whole (including all of the schedules hereto) and not to any particular provision of this Agreement. Article, Section or Schedule references are to the articles, sections and schedules of or to this Agreement unless otherwise
specified. Any capitalized terms used in any schedule to this Agreement but not otherwise defined therein shall have the meaning as defined in this Agreement, the Distribution Agreement or the Ancillary Agreement to which such schedule is
attached, as applicable. Any definition of or reference to any agreement, instrument or other document herein (including any reference herein to this Agreement) shall, unless otherwise stated, be construed as referring to such agreement,
instrument or other document as from time to time amended, supplemented or otherwise modified from time to time (subject to any restrictions on such amendments, supplements or modifications set forth herein). The word “including” and
words of similar import when used in this Agreement shall mean “including, without limitation,” unless the context otherwise requires or unless otherwise specified. The word “or” shall not be exclusive. The word
“extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if.” All references to “$” or dollar amounts are to the lawful
currency of the United States of America. In the event that an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise
favoring or disfavoring either Party by virtue of the authorship of any provisions hereof. 
 ARTICLE II 

ASSIGNMENT OF EMPLOYEES 

SECTION 2.01. Transferred Employees. As of the date immediately prior to the Distribution Date, the employment of the Transferred
Employees by any member of the DTE Energy Group shall have been assigned and transferred to a member of the DT Midstream Group. 

  
 6 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 2.02. Listed Employees. For 12 months following the Distribution Date, DT
Midstream shall have the right to solicit and offer employment with the DT Midstream Group to the employees listed on Schedule A (the “Listed Employees”). In the event any Listed Employee accepts such offer of employment from and
commences employment with the DT Midstream Group, the Parties shall use commercially reasonable efforts, subject to applicable Laws and the terms and conditions of the applicable Benefit Plans, to treat such Listed Employee as a DT Midstream
Employee or a DT Midstream Corporate Employee, as applicable, for all purposes of this Agreement, including the DTE Energy Benefit Plans and the DT Midstream Benefit Plans but excluding Article VI of this Agreement, as of the Offer Employee Transfer
Date. 
 SECTION 2.03. Non-Employment Obligation. Notwithstanding anything to the contrary
contained herein, nothing in this Agreement shall create any obligation on the part of the DT Midstream Group or the DTE Energy Group to continue the employment of any employee for any definite period following the Distribution Date or to change the
employment status of any employee from “at will.” Unless required pursuant to the terms of the applicable Benefit Plan or applicable Law, the Parties agree that none of the Transactions shall result in any Business Employees being deemed
to have incurred a termination of employment or being eligible to receive severance benefits solely as a result of the Distribution. 

ARTICLE III 
 PENSION,
RETIREMENT AND DEFERRED COMPENSATION PLANS 
 SECTION 3.01. Qualified Defined Contribution Plans. (a) Establishment of
the DT Midstream Savings Plan. Effective on or before the Distribution Date, DT Midstream shall adopt, establish and maintain a 401(k) profit sharing plan and trust for the benefit of DT Midstream Employees that is intended to be qualified under
Section 401(a) of the Code and exempt from federal income tax under Section 501(a) of the Code (the “DT Midstream Savings Plan”). If the DT Midstream Savings Plan is not adopted in the form of a pre-approved plan for which the IRS has issued an opinion letter, as soon as practicable after the adoption of the DT Midstream Savings Plan, or as otherwise required under Revenue
Procedure 2007-44, DT Midstream shall submit an application to the IRS for a determination letter that the DT Midstream Savings Plan is qualified under Section 401(a) of the Code and that the related
DT Midstream Savings Plan Trust is exempt from federal income tax under Section 501(a) of the Code, and shall take any actions not inconsistent with DT Midstream’s other general commitments contained in this Agreement and make any
amendments necessary to receive such determination. As of the Distribution Date, each DT Midstream Employee shall be eligible to participate in the DT Midstream Savings Plan, which shall recognize the service of such DT Midstream Employee with DTE
Energy and its Subsidiaries for purposes of any applicable waiting period, service condition or vesting with respect to applicable employer contributions from DT Midstream following the Distribution Date. 

(b) DTE Energy Savings Plan. Following the Distribution, the DTE Energy Group shall retain sponsorship of the DTE Energy Savings Plan
and the DTE Energy Savings Plan shall retain all Assets and Liabilities arising out of or relating to the DTE Energy Savings Plan, including those relating to each Business Employee (and their respective beneficiaries) in connection with his or her
service prior to the Distribution, including the obligation to make all payments or distributions with respect to such Liabilities in accordance with the terms of the DTE Energy Savings Plan (including distributions pursuant to
Section 3.01(c)). As of the Distribution Date, each DT Midstream Employee shall cease active participation in the DTE Energy Savings Plan, other than with respect to benefit accruals as of the Distribution Date. 

  
 7 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 (c) Savings Plan Rollover. As of the Distribution Date, the DTE Energy Savings Plan
shall permit each DT Midstream Employee to elect, and the DT Midstream Group shall cause the DT Midstream Savings Plan to accept, in accordance with applicable Law and the terms of the DTE Energy Savings Plan and the DT Midstream Savings Plan, a
rollover of the account balances (including earnings through the date of transfer but excluding promissory notes evidencing all outstanding loans) of such DT Midstream Employee under the DTE Energy Savings Plan, if such rollover is elected in
accordance with applicable Law and the terms of the DTE Energy Savings Plan and by such DT Midstream Employee. Upon completion of a rollover of all or part of the account balance of any DT Midstream Employee, as described in this
Section 3.01(c), DT Midstream and the DT Midstream Savings Plan shall be responsible for all Liabilities of the DTE Energy Group under the DTE Energy Savings Plan with respect to the portion of the account balance of the DT Midstream Employee
whose full or partial account balance was rolled over to the DT Midstream Savings Plan (and his or her respective beneficiaries), and the DTE Energy Group and the DTE Energy Savings Plan shall have no Liabilities to provide the former DTE Energy
Savings Plan participant (or any of the former participant’s beneficiaries) with benefits under the DTE Energy Savings Plan with respect to the portion of the former participant’s account balance so rolled over. In the event a DT Midstream
Employee elects a rollover of all or part of such DTE Midstream Employee’s account balance under the DTE Energy Savings Plan in accordance with this Section 3.01(c), any promissory notes evidencing outstanding loans under the account shall
be subject to the terms and conditions of the DTE Energy Savings Plan. 
 (d) Employer Savings Plan Contributions. The DTE Energy
Group shall remain responsible for making all employer contributions under the DTE Energy Savings Plan with respect to any DT Midstream Employee attributable to compensation paid prior to the Distribution; provided that, any such employer
contributions shall be made by the DTE Energy Group prior to any rollover elected by a DT Midstream Employee under Section 3.01(c). The DTE Energy Group shall cause the DTE Energy Savings Plan to be amended as necessary to fully vest any
employer contributions made to the accounts of DT Midstream Employees that are unvested as of the Distribution Date. On and after the Distribution Date, the DT Midstream Group shall be responsible for all employer contributions under the DT
Midstream Savings Plan attributable to service performed by DT Midstream Employees after the Distribution Date. 
 (e) Limitation of
Liability; Cooperation. The DTE Energy Group shall have no Liability with respect to the DT Midstream Savings Plan following the Distribution Date, including responsibility for any failure of DT Midstream to properly administer the DT Midstream
Savings Plan in accordance with its terms and applicable Law and any failure to properly administer the accounts of DT Midstream Employees and their respective beneficiaries, including accounts rolled over in accordance with Section 3.01(c), in
such DT Midstream Savings Plan. Following the date of this Agreement, the DTE Energy Group and the DT Midstream Group shall use commercially reasonable efforts to cooperate in administering the DTE Energy Savings Plan in connection with providing
benefits to DT Midstream Employees in accordance with the terms of the DTE Energy Savings Plan, including by exchanging any necessary participant records. 

  
 8 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 3.02. Qualified Defined Benefit Pension Plans. Following the Distribution
Date, the DTE Energy Group shall retain sponsorship of the DTE Energy Pension Plan and the DTE Energy Pension Plan shall retain all Assets and Liabilities arising out of or relating to the DTE Energy Pension Plan, including those relating to each
Business Employee (and their respective beneficiaries) in connection with his or her service prior to the Distribution, including the obligation to make all payments or distributions with respect to such Liabilities in accordance with the terms of
the DTE Energy Pension Plan. As of the Distribution Date, each DT Midstream Employee shall cease active participation in the DTE Energy Pension Plan, other than with respect to benefit accruals as of the Distribution Date. Following the date of this
Agreement, the DTE Energy Group and the DT Midstream Group shall use commercially reasonable efforts to cooperate in administering the DTE Energy Pension Plan in connection with providing benefits to DT Midstream Employees in accordance with the
terms of the DTE Energy Pension Plan, including by exchanging any necessary participant records. For the avoidance of doubt, in no event shall any DT Midstream Employee who is not a participant in, or has not vested in a benefit under, the DTE
Energy Pension Plan prior to the Distribution Date become eligible to receive payments or benefits under the DTE Energy Pension Plan following the Distribution Date. 

SECTION 3.03. Nonqualified Deferred Compensation Plans. Following the Distribution Date, the DTE Energy Group shall retain sponsorship
of the DTE Energy Deferred Compensation Plans and all Assets and Liabilities arising out of or relating to the DTE Energy Deferred Compensation Plans, including those relating to any Business Employee (and their respective beneficiaries) in
connection with his or her service prior to the Distribution, including the obligation to make all payments or distributions with respect to such Liabilities in accordance with the terms of the applicable DTE Energy Deferred Compensation Plan. As of
the Distribution Date, each DT Midstream Employee shall cease active participation in the DTE Energy Deferred Compensation Plans, other than with respect to benefit accruals as of the Distribution Date. The DTE Energy Group shall cause the DTE
Energy Deferred Compensation Plans to be amended as necessary to fully vest all contributions or benefits accrued by any DTE Midstream Employee as of the Distribution Date. The payment or distribution of any compensation to which any DT Midstream
Employee (and their respective beneficiaries) is entitled under the DTE Energy Deferred Compensation Plans shall occur upon the time or times provided for under the applicable DTE Energy Deferred Compensation Plan and such DT Midstream
Employee’s deferral or distribution elections, as applicable. Following the date of this Agreement, the DTE Energy Group and the DT Midstream Group shall use commercially reasonable efforts to cooperate in administering the DTE Energy Deferred
Compensation Plans for purposes of satisfying any obligations relating to the participation of any DT Midstream Employee, including by exchanging any necessary participant records. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 ARTICLE IV 

WELFARE PLANS 
 SECTION
4.01. Establishment of the DT Midstream Welfare Plans. Effective on or before the Distribution Date, DT Midstream shall adopt, establish and maintain Welfare Plans for the benefit of DT Midstream Employees (the “DT Midstream Welfare
Plans”). 
 SECTION 4.02. Coverage of DT Midstream Employees. As of the Distribution Date, each DT Midstream Employee shall
become eligible to participate in the DT Midstream Welfare Plans, subject to the terms of such plans. To the extent applicable to any DT Midstream Welfare Plans in which DT Midstream Employees become eligible as of the Distribution Date that provide
benefits similar to the benefits that had been provided to such persons under a DTE Energy Welfare Plan immediately prior to such date, DT Midstream shall cause the DT Midstream Welfare Plans to recognize all coverage and contribution elections made
by the DT Midstream Employees under the DTE Energy Welfare Plans in effect for the period immediately prior to the Distribution Date and shall apply such elections under the DT Midstream Welfare Plans for the remainder of the period or periods for
which such elections are by their terms applicable. All beneficiary designations made by DT Midstream Employees under the DTE Energy Welfare Plans shall, to the extent applicable, be transferred to, and be in full force and effect under, the DT
Midstream Welfare Plans until such beneficiary designations are replaced or revoked by the DT Midstream Employee who made the beneficiary designation in accordance with the terms of such plans. With respect to each DT Midstream Employee, each DT
Midstream Welfare Plan shall provide that for purposes of determining eligibility to participate, vesting and calculation of, and entitlement to, benefits, service by the DT Midstream Employee prior to the Distribution Date with DTE Energy and its
Subsidiaries shall be treated as service with the DT Midstream Group. DT Midstream shall cause each DT Midstream Welfare Plan to waive any waiting periods, evidence of insurability requirements and the application of any preexisting condition
limitations with respect to each DT Midstream Employee (and, if applicable, such DT Midstream Employee’s participating spouse and/or dependents). DT Midstream shall cause each DT Midstream Welfare Plan to honor any deductible, co-payment and out-of-pocket maximums incurred by each DT Midstream Employee (and, if applicable, such DT Midstream Employee’s
participating spouse and/or dependents) under the DTE Energy Welfare Plans in which such DT Midstream Employee participated immediately prior to the Distribution Date, if any, in satisfying any deductibles,
co-payments or out-of-pocket maximums under the DT Midstream Welfare Plans in which such DT Midstream Employee is eligible to
participate after the Distribution Date in the same plan year in which any such deductibles, co-payments or out-of-pocket
maximums were incurred. All amounts credited or applied to any annual or lifetime benefit limitation under a DTE Energy Welfare Plan with respect to a DT Midstream Employee (and, if applicable, such DT Midstream Employee’s participating spouse
and/or dependents) shall be credited or applied to the annual or lifetime benefit limitation for such DT Midstream Employee (and, if applicable, such DT Midstream Employee’s participating spouse and/or dependents) under the corresponding DT
Midstream Welfare Plan. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 4.03. Welfare Plan Liabilities. (a) DT Midstream Liabilities.
Except as provided in clause (b) of this Section 4.03, the DT Midstream Group and the DT Midstream Welfare Plans, as applicable, shall retain and be responsible for all claims for welfare benefits (and for any Liabilities arising as a
result of such claims) incurred with respect to any DT Midstream Employee (and, if applicable, such DT Midstream Employee’s participating spouse and/or dependents) on or after the Distribution Date under the DT Midstream Welfare Plans, and no
member of the DTE Energy Group or the DTE Energy Welfare Plans shall assume or retain any such Liabilities. 
 (b) DTE Energy
Liabilities. Following the Distribution, the DTE Energy Group shall retain sponsorship of the DTE Energy Welfare Plans. Except as provided in Sections 4.04, 4.05 and 4.07, the DTE Energy Group and the DTE Energy Welfare Plans shall retain
and continue to be responsible for all claims for welfare benefits (and for any Liabilities arising as a result of such claims) incurred with respect to any Business Employee (and, if applicable, such Business Employee’s participating spouse
and/or dependents) prior to the Distribution Date, whether such claims have been paid or remain unpaid as of such date, and the DT Midstream Welfare Plans shall not assume or retain any such Liabilities. DT Midstream shall reimburse DTE Energy Group
for claims incurred but not paid as of the Distribution Date with respect to any DT Midstream Employee (other than a Transferred Employee). Except as provided in Section 4.05, as of the Distribution Date, each DT Midstream Employee shall cease
participation in the DTE Energy Welfare Plans (other than the DTE Energy Retiree Welfare Plans in accordance with the terms of such DTE Energy Retiree Welfare Plans). 

(c) Claims Incurred. Claims for purposes of this Section 4.03 shall be considered to be incurred as follows: (i) health,
dental, vision, employee assistance program and prescription drug benefits (including in respect of hospital confinement), upon provision of such services, materials or supplies and (ii) life, long-term disability, accidental death and
dismemberment and business travel accident insurance benefits, upon the death, cessation of employment, injury, illness, or other event giving rise to such benefits. 

SECTION 4.04. Disability. (a) DT Midstream shall assume all Liabilities related to extended (short-term) disability benefits
payable to a DT Midstream Employee after the Distribution Date, even if the disability giving rise to the benefits first occurred before the Distribution Date. 

(b) The DTE Energy Welfare Plans shall retain any Liabilities related to long-term disability benefits payable under the terms of the DTE
Energy Welfare Plans to any Business Employee as a result of any disability that first arose before the Distribution Date. The DT Midstream Welfare Plans shall retain and be responsible for any Liabilities related to long-term disability benefits
payable under the terms of the DT Midstream Welfare Plans to any DT Midstream Employee as a result of any disability that first arises on or after the Distribution Date. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 4.05. Workers’ Compensation Claims. Effective on or before the
Distribution Date, DT Midstream shall adopt, establish and maintain a workers’ compensation plan of the DT Midstream Group (each, a “DT Midstream Workers’ Compensation Plan”) for the benefit of DT Midstream Employees. In
the case of any workers’ compensation claim of any DT Midstream Employee in respect of his or her employment with the DTE Energy Group or the DT Midstream Group, such claim shall be covered (a) under the applicable DTE Energy Workers’
Compensation Plan if the Workers’ Compensation Event occurred prior to the Distribution Date and (b) under the applicable DT Midstream Workers’ Compensation Plan if the Workers’ Compensation Event occurs on or after the
Distribution Date. If the Workers’ Compensation Event occurs over a period both preceding and following the Distribution, the claim shall be jointly covered under the DTE Energy Workers’ Compensation Plan and the DT Midstream Workers’
Compensation Plan and shall be equitably apportioned between them based upon the relative periods of time that the Workers’ Compensation Event transpired preceding and following the Distribution. 

SECTION 4.06. COBRA. In the event that a Business Employee or his or her qualified beneficiary was receiving, or was eligible to
receive, continuation health coverage pursuant to COBRA prior to the Distribution Date, DTE Energy and the applicable DTE Energy Welfare Plans shall be responsible for all Liabilities to such employee (or his or her eligible dependents) in respect
of COBRA. In the event a DT Midstream Employee or his or her qualified beneficiary becomes eligible to receive continuation health coverage pursuant to COBRA on or following the Distribution Date, DT Midstream and the DT Midstream Welfare Plans
shall be responsible for all Liabilities to such employee (or his or her eligible dependents) in respect of COBRA. DT Midstream shall indemnify, defend and hold harmless the members of the DTE Energy Group from and against all Liabilities relating
to, arising out of or resulting from COBRA provided by DT Midstream, or the failure of DT Midstream to meet its COBRA obligations, to DT Midstream Employees and their respective eligible dependents. The DTE Energy Welfare Plans shall not treat the
Distribution as a COBRA qualifying event for any DT Midstream Employee (or any eligible dependent of a DT Midstream Employee). 
 SECTION
4.07. Flexible Spending Accounts; Vacation Buy. As of the Distribution Date, each DT Midstream Employee shall cease participation in the DTE Energy FSA and DTE Energy VB and shall become eligible to participate in a flexible spending account
plan established by DT Midstream (the “DT Midstream FSA”) and a vacation buy plan established by DT Midstream (the “DT Midstream VB”), as applicable, subject to the terms of such plans. Effective as of the
Distribution Date, the DT Midstream FSA and the DT Midstream VB shall credit or debit the applicable account of each DT Midstream Employee who, as of the Distribution Date, was a participant in the flexible spending account plan maintained by the
DTE Energy Group (the “DTE Energy FSA”) or the vacation buy plan maintained by the DTE Energy Group (the “DTE Energy VB”), as applicable, with an amount equal to the balance of his or her account under the DTE
Energy FSA or DTE Energy VB, as applicable, as of the Distribution Date, and shall continue his or her elections thereunder. If the claims made against a DT Midstream Employee’s DTE Energy FSA account or DTE Energy VB account prior to the
Distribution Date exceed the amounts credited to such account at the Distribution Date, DT Midstream shall reimburse the DTE Energy Group for the aggregate amount of such difference. If the amounts credited to a DT Midstream Employee’s DTE
Energy FSA account or DTE Energy VB at the Distribution Date exceed the claims made against such account prior to the Distribution Date, the DTE Energy Group shall reimburse DT Midstream for the aggregate amount of such difference. As of the
Distribution Date, (a) the DT Midstream FSA shall assume responsibility for all outstanding dependent care and medical care claims under the DTE Energy FSA of each DT Midstream Employee and shall assume and perform the obligations from and
after the Distribution Date and (b) the DT Midstream VB shall assume responsibility for payment of all vacation time purchased by a DT Midstream Employee before the Distribution Date but unused as of the Distribution Date, consistent with the
terms of the DT Midstream VB. From and after the Distribution Date, the DTE Energy Group shall provide DT Midstream with such information DT Midstream may reasonably request to enable it to verify any claims or contribution information pertaining to
the DTE Energy FSA or the DTE Energy VB. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 4.08. Health Savings Accounts. Any DT Midstream Employee who was contributing
to a health savings account in connection with the DT Midstream Employee’s participation in the DTE Energy Welfare Plans (a “DTE Energy Plan HSA”) shall retain ownership of such DTE Energy Plan HSA following the Distribution
Date. DT Midstream shall take all actions as are necessary to enable any eligible DT Midstream Employee to make health savings account contributions in connection with such DT Midstream Employee’s participation in the DT Midstream Welfare Plans
(a “DT Midstream Plan HSA”) following the Distribution Date. Following the date of this Agreement, the Parties shall use commercially reasonable efforts to cooperate in transferring the DTE Energy Plan HSAs of DT Midstream Employees
to the respective DT Midstream Plan HSAs of such DT Midstream Employees. 
 SECTION 4.09. Retiree Welfare Plans. Following the
Distribution, the DTE Energy Group shall retain sponsorship of the DTE Energy Retiree Welfare Plans and all Liabilities arising out of or relating to the DTE Energy Retiree Welfare Plans relating to any Business Employee (and their respective
beneficiaries) in connection with his or her service prior to the Distribution, including the obligation to make all payments or distributions with respect to such Liabilities in accordance with the terms of the DTE Energy Retiree Welfare Plans. The
DTE Energy Retiree Welfare Plans shall retain all Assets relating to the DTE Energy Retiree Welfare Plans. The DTE Energy Group shall cause the DTE Energy Retiree Welfare Plans to be amended as necessary to provide to each DT Midstream Employee who
is a participant therein immediately prior to the Distribution Date with five additional years of age and service credit solely for vesting purposes effective as of the Distribution Date. Any benefits in respect of DT Midstream Employees that remain
unvested after giving effect to the foregoing as of the Distribution Date shall be treated in accordance with the terms of the applicable DTE Energy Retiree Welfare Plan. Following the date of this Agreement, the DTE Energy Group and the DT
Midstream Group shall use commercially reasonable efforts to cooperate in administering the DTE Energy Retiree Welfare Plans for purposes of satisfying any obligations relating to the participation of any DT Midstream Employee, including by
exchanging any necessary participant records. 
 ARTICLE V 

CERTAIN OTHER ARRANGEMENTS 

SECTION 5.01. Other DT Midstream Benefit Arrangements. Effective on or before the Distribution Date, the DT Midstream Group shall
adopt, establish and maintain Benefit Plans (other than Pension Plans and Welfare Plans providing post-employment benefits other than COBRA) for the benefit of the DT Midstream Employees and shall be solely responsible for all Liabilities with
respect to such DT Midstream Benefit Plans. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 5.02. No Change in Control. The Distribution shall not constitute a
“change in control” (or term of similar meaning) for purposes of any DTE Energy Benefit Plan. 
 SECTION 5.03. Annual
Bonuses. Effective as of the Distribution Date, the DT Midstream Group shall establish (a) an annual bonus program for the 2021 performance period (the “DT Midstream AIP”) for the benefit of each DT
Midstream Employee who was granted an annual incentive award for 2021 under the DTE Energy Company Annual Incentive Plan (a “2021 AIP Award”) and (b) a rewarding employees program for the 2021 performance period (the
“DT Midstream REP”) for the benefit of each DT Midstream Employee who was granted an annual incentive award for 2021 under the DTE Energy Rewarding Employees Plan (a “ 2021 REP Award”). Effective as of the
Distribution Date, DT Midstream shall have granted to each such DT Midstream Employee an annual incentive for the 2021 performance period under the DT Midstream Annual Incentive Plan or the DT Midstream Rewarding Employee Plan, as applicable (each,
a “2021 DT Midstream Annual Award”). Prior to the Distribution Date, DTE Energy shall (i) provide to DT Midstream documentation detailing the estimated performance achievement and accrued liability with respect to the 2021 AIP
Award or 2021 REP Award of each such DT Midstream Employee, as determined by DTE Energy in its sole discretion prior to the Distribution Date, and (ii) transfer to DT Midstream an amount in cash equal to the aggregate amount of such accrued
liabilities (the “2021 Incentive Payment”). Following the Distribution Date, DT Midstream shall have sole responsibility and Liability for administering and paying any amount due with respect to any 2021 DT Midstream Annual Award,
under the DT Midstream AIP, DT Midstream REP or under any other annual incentive program of the DT Midstream Group or otherwise payable to any DT Midstream Employee following the Distribution Date, and the DTE Energy Group shall have no Liability in
respect thereof (other than the 2021 Incentive Payment). 
 SECTION 5.04. Severance. Effective as of the Distribution, DTE Energy
shall have no Liability with respect to any severance payable to DT Midstream Employees under any severance plan, program, agreement or arrangement (whether of the DTE Energy Group, the DT Midstream Group or otherwise). It is not intended that any
Business Employee will be eligible for termination or severance payments from the DTE Energy Group or the DT Midstream Group as a result of the transfer or change of employment from the DTE Energy Group to the DT Midstream Group or from the DT
Midstream Group to the DTE Energy Group or the occurrence of the Distribution. 
 ARTICLE VI 

STOCK PLANS 
 SECTION
6.01. DT Midstream Stock Plan. Effective on or before the Distribution Date, the DT Midstream Group shall adopt, establish and maintain an equity compensation plan (the “DT Midstream Stock Plan”). 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 6.02. Restricted Stock Awards Held by DT Midstream Employees. Each DTE Energy
Restricted Stock Award held as of immediately prior to the Distribution by any Business Employee who will become a DT Midstream Employee shall be converted into a DT Midstream restricted stock unit award granted under the DT Midstream Stock Plan (a
“Substitute DT Midstream RSU Award”). The number of DT Midstream Shares subject to the Substitute DT Midstream RSU Award shall be equal to the number of DTE Energy Shares subject to the DTE Energy Restricted Stock Award held as of
immediately prior to the Distribution multiplied by a fraction, the numerator of which is the DTE Energy Pre-Distribution Stock Price, and the denominator of which is the DT Midstream Post-Distribution Stock
Price. Each Substitute DT Midstream RSU Award shall vest based on the holder’s employment with the DT Midstream Group. Each Substitute DT Midstream RSU Award shall have substantially the same terms and conditions as the corresponding DTE Energy
Restricted Stock Award, except that the holder thereof shall not have any rights as a stockholder in respect of such Substitute DT Midstream RSU Award until DT Midstream Shares are delivered in settlement of such Substitute DT Midstream RSU Award
and as otherwise provided herein. 
 SECTION 6.03. Performance Share Awards Held by DT Midstream Employees. (a) 2019 Performance
Share Awards. Each DTE Energy Performance Share Award granted under the DTE Energy Stock Plan in 2019 and held as of immediately prior to the Distribution (or immediately prior to the Record Date, solely to the extent DTE Energy elects to settle
such award prior thereto) by any Business Employee who will become a DT Midstream Employee shall (i) vest as to two-thirds of the target number of DTE Energy Shares subject to such DTE Energy Performance
Share Award based on actual performance as of December 31, 2020, as determined by the Organization and Compensation Committee of the DTE Energy board of directors in its sole discretion and (ii) forfeit as to
one-third of the target number of DTE Energy Shares subject to such DTE Energy Performance Share Award (the portion described in clause (i), a “Vested 2019 DTE Energy Performance Share Award”
and the portion described in clause (ii), a “Forfeited 2019 DTE Energy Performance Share Award”). Each Vested 2019 DTE Energy Performance Share Award shall be settled by DTE Energy in its discretion (x) prior to the Record Date
or (y) no later than 60 days following the Distribution Date in which case the target number of DTE Energy Shares subject to the Vested 2019 DTE Energy Performance Share Award as of immediately prior to the Distribution Date shall be
appropriately adjusted as determined by DTE Energy. Effective as of the Distribution Date, DT Midstream shall grant to each DT Midstream Employee who held a Forfeited 2019 DTE Energy Performance Share Award a performance share award pursuant to the
DT Midstream Stock Plan with a target number of DT Midstream Shares subject to such award equal to the target number of DTE Energy Shares subject to the Forfeited 2019 DTE Energy Performance Share Award multiplied by a fraction, the numerator of
which is the DTE Energy Pre-Distribution Stock Price, and the denominator of which is the DT Midstream Post-Distribution Stock Price (each such award, a “DT Midstream 2019 Performance Share
Award”). Each DT Midstream 2019 Performance Share Award shall have substantially the same terms and conditions as the Forfeited 2019 DTE Energy Performance Share Award to which it relates, provided that the DT Midstream 2019
Performance Share Award shall vest based on the achievement of DT Midstream performance metrics, as established prior to the Distribution, and the holder’s employment with the DT Midstream Group. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 (b) 2020 Performance Share Awards. Each DTE Energy Performance Share Award granted
under the DTE Energy Stock Plan in 2020 and held as of immediately prior to the Distribution (or immediately prior to the Record Date, solely to the extent DTE Energy elects to settle such award prior thereto) by any Business Employee who will
become a DT Midstream Employee shall (i) vest as to one-third of the target number of DTE Energy Shares subject to such DTE Energy Performance Share Award based on actual performance as of
December 31, 2020, as determined by the Organization and Compensation Committee of the DTE Energy board of directors in its sole discretion and (ii) forfeit as to two-thirds of the target number of
DTE Energy Shares subject to such DTE Energy Performance Share Award (the portion described in clause (i), a “Vested 2020 DTE Energy Performance Share Award” and the portion described in clause (ii), a “Forfeited 2020 DTE
Energy Performance Share Award”). Each Vested 2020 DTE Energy Performance Share Award shall be settled by DTE Energy in its discretion (x) prior to the Record Date or (y) no later than 60 days following the Distribution Date in
which case the target number of DTE Energy Shares subject to the Vested 2020 DTE Energy Performance Share Award as of immediately prior to the Distribution Date shall be appropriately adjusted as determined by DTE Energy. Effective as of the
Distribution Date, DT Midstream shall grant to each DT Midstream Employee who held a Forfeited 2020 DTE Energy Performance Share Award a performance share award pursuant to the DT Midstream Stock Plan with a target number of DT Midstream Shares
subject to such award equal to the target number of DTE Energy Shares subject to the Forfeited 2020 DTE Energy Performance Share Award multiplied by a fraction, the numerator of which is the DTE Energy
Pre-Distribution Stock Price, and the denominator of which is the DT Midstream Post-Distribution Stock Price (each such award, a “DT Midstream 2020 Performance Share Award”). Each DT Midstream
2020 Performance Share Award shall have substantially the same terms and conditions as the Forfeited 2020 DTE Energy Performance Share Award to which it relates, provided that the DT Midstream 2020 Performance Share Award shall vest based on
the achievement of DT Midstream performance metrics, as established prior to the Distribution, and the holder’s employment with the DT Midstream Group. 

(c) 2021 Performance Share Awards. Each DTE Energy Performance Share Award granted under the DTE Energy Stock Plan in 2021 and held as
of immediately prior to the Distribution by any Business Employee who will become a DT Midstream Employee shall be converted into a substitute DT Midstream performance share award granted under the DT Midstream Stock Plan (a “Substitute DT
Midstream Performance Share Award”). The target number of DT Midstream Shares that are subject to the Substitute DT Midstream Performance Share Award shall be equal to the target number of DTE Energy Shares subject to the DTE Energy
Performance Share Award held as of immediately prior to the Distribution multiplied by a fraction, the numerator of which is the DTE Energy Pre-Distribution Stock Price and the denominator of which is the DT
Midstream Post-Distribution Stock Price. Each Substitute DT Midstream Performance Share Award shall have substantially the same terms and conditions as the DTE Energy Performance Share Award to which it relates, provided that the Substitute DT
Midstream Performance Share Award shall vest based on the achievement of DT Midstream performance metrics, as established prior to the Distribution, and the holder’s employment with the DT Midstream Group. 

SECTION 6.04. Approval and Terms of Equity Awards. DT Midstream shall adopt and approve the issuance of the converted and replacement
awards provided for herein. Notwithstanding the foregoing, awards made under the DT Midstream Stock Plan pursuant to DT Midstream’s obligations under this Agreement shall take into account all employment and service with both DTE Energy and DT
Midstream, and their respective Subsidiaries and Affiliates, for purposes of determining when such awards vest and terminate. The DT Midstream Group shall be solely responsible for all Liabilities with respect to the DT Midstream Stock Plan,
including the Substitute DT Midstream RSU Awards, the DT Midstream 2019 Performance Share Awards, the DT Midstream 2020 Performance Share Awards and the Substitute DT Midstream Performance Share Awards. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 ARTICLE VII 

COMPENSATION MATTERS AND GENERAL BENEFIT MATTERS 

SECTION 7.01. Cessation of Participation in DTE Energy Benefit Plans. Except as otherwise provided in this Agreement or as required by
the terms of any DTE Energy Benefit Plan or by applicable Law, the DTE Energy Group shall take any and all action as shall be necessary or appropriate so that participation in DTE Energy Benefit Plans by all DT Midstream Employees shall terminate as
of the close of business on the date immediately prior to the Distribution Date and each member of the DT Midstream Group shall cease to be a participating employer under the terms of such DTE Energy Benefit Plans as of such time. 

SECTION 7.02. Assumption of Certain Employee Related Obligations. Except as otherwise provided in this Agreement, effective as of the
close of business on the date immediately prior to the Distribution, DT Midstream shall assume, and the DTE Energy Group shall have no further Liability for, the following agreements and Liabilities, and DT Midstream shall indemnify, defend and hold
harmless each of the DTE Energy Indemnitees from and against any and all expenses and losses incurred or suffered by one or more of the DTE Energy Indemnitees in connection with, relating to, arising out of or due to, directly or indirectly, any of
the following: 
 (a) all agreements entered into between the DTE Energy Group and any DT Midstream Employee or independent
contractor or other service provider providing services to the DT Midstream Group immediately following the Distribution Date; provided that if any such agreement constitutes a Shared Contract, the benefits, obligations and liabilities under
such agreement shall be allocated between DTE Energy and DT Midstream in accordance with Section 2.04 of the Distribution Agreement; 

(b) all wages, salary, incentive compensation, commissions and bonuses payable to DT Midstream Employees on or after the
Distribution Date, without regard to when such wages, salary, incentive compensation, commissions or bonuses are or may have been earned; 

(c) all moving expenses and obligations related to relocation, repatriation, transfers, tuition assistance and adoption
assistance or similar items incurred by or owed to any DT Midstream Employee on or after the Distribution Date; 
 (d) all
immigration-related, visa, work application or similar rights, obligations and liabilities to the extent they are related to any DT Midstream Employees; 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 (e) all offer letters and letter agreements entered into between (i) the
DTE Energy Group, the DT Midstream Group or a former entity owned, in whole or in part, by the DT Midstream Group and (ii) any DT Midstream Employee providing for ongoing benefits and/or compensation for such DT Midstream Employee; and 

(f) all Liabilities of the DT Midstream Group or in respect of the operation or conduct of the DT Midstream Business as
conducted at any time (whether prior to or after the Distribution) or any other business conducted by DT Midstream or any other member of the DT Midstream Group at any time after the Distribution, in each case, with respect to claims made by or with
respect to DT Midstream Employees relating to any Benefit Plan not otherwise retained or assumed by the DTE Energy Group pursuant to this Agreement, including such Liabilities relating to actions or omissions of or by the DT Midstream Group or any
officer, director, employee or agent thereof prior to the Distribution Date. 
 SECTION 7.03. Restrictive Covenants in Employment and
Other Agreements. To the extent permitted under applicable Law, following the Distribution, the DT Midstream Group shall be considered to be successors to the DTE Energy Group for purposes of all agreements containing restrictive covenants
(including confidentiality provisions) between the DTE Energy Group and any Business Employee executed prior to the Distribution Date such that the DTE Energy Group and the DT Midstream Group shall all enjoy the rights and benefits under such
agreements, with respect to their respective business operations; provided, however, that (a) in no event shall the DTE Energy Group be permitted to enforce any restrictive covenants against any Business Employees in their capacity as
employees of the DT Midstream Group and (b) in no event shall the DT Midstream Group be permitted to enforce any restrictive covenants against any DTE Energy employees in their capacity as employees of the DTE Energy Group. 

SECTION 7.04. Past Service Credit. With respect to all DT Midstream Employees, as of the Distribution Date, the DT Midstream Group
shall recognize all service recognized under the comparable DTE Energy Benefit Plans for purposes of determining eligibility, participation, vesting and calculation of benefits under comparable plans and programs maintained by the DT Midstream
Group; provided that there shall be no duplication of benefits for DT Midstream Employees under such DT Midstream Group plans and programs. The DTE Energy Group shall provide to DT Midstream copies of any records available to the DTE Energy
Group to document such service, plan participation and membership and cooperate with DT Midstream to resolve any discrepancies or obtain any missing data for purposes of determining benefit eligibility, participation, vesting and calculation of
benefits with respect to the DT Midstream Employees. With respect to retaining, destroying, transferring, sharing, copying and permitting access to all such information, the DTE Energy Group and DT Midstream shall each comply with all applicable
Laws, regulations and internal policies and each Party shall indemnify and hold harmless the other Party from and against any and all Liability that arises from a failure (by the indemnifying Party) to so comply with all applicable Laws, regulations
and internal policies applicable to such information. 
 SECTION 7.05. Accrued Vacation and Other Paid Time Off. Effective as of the
Distribution Date, the DT Midstream Group shall recognize and assume all liability for all paid time off and vacation, holiday, absence bank, sick leave and personal days off (other than deferred banked vacation), accrued by DT Midstream Employees
as of the Distribution Date, and the DT Midstream Group shall credit each DT Midstream Employee with such converted accrued days off. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 7.06. Leaves of Absence. The DT Midstream Group shall continue to apply all
leave of absence policies as in effect immediately prior to the Distribution to inactive DT Midstream Employees who are on an approved leave of absence as of the Distribution Date. Leaves of absence taken by DT Midstream Employees prior to the
Distribution Date shall be deemed to have been taken as employees of DT Midstream. 
 SECTION 7.07. DTE Energy Assets. Except as
otherwise set forth herein, the DTE Energy Group or the DTE Energy Benefit Plans, as applicable, shall retain all reserves, bank accounts, trust funds or other balances maintained with respect to DTE Energy Benefit Plans. 

SECTION 7.08. Further Cooperation; Personnel Records; Data Sharing. The Parties shall provide each other such records and information
as reasonably necessary or appropriate to carry out their obligations under applicable Law or this Agreement or for the purposes of administering their respective plans and policies. Each Party shall be responsible for the accuracy of records and
information provided to the other Party pursuant to this Section 7.08 and shall indemnify such other Party for any losses caused by inaccurate information that it has provided (including failure to timely provide such records and information).
Subject to applicable Law, all information and records regarding employment and personnel matters of Business Employees shall be accessed, retained, held, used, copied and transmitted after the Distribution Date by the DTE Energy Group and DT
Midstream, as applicable, in accordance with all Laws and policies relating to the collection, storage, retention, use, transmittal, disclosure and destruction of such records. Access to such records after the Distribution Date shall be provided to
the DTE Energy Group and DT Midstream, as applicable, in accordance with Article VII of the Distribution Agreement. Notwithstanding the foregoing, the DTE Energy Group shall retain reasonable access to those records necessary for the DTE Energy
Group’s continued administration of any plans or programs on behalf of Business Employees after the Distribution Date, and DT Midstream shall retain reasonable access to those records necessary for DT Midstream’s administration of any
equity award or other compensation or benefit payable or administered by the DT Midstream Group after the Distribution Date, provided that such access shall be limited to individuals who have a job-related
need to access such records. The DTE Energy Group shall also retain copies of all confidentiality and non-compete agreements with any Business Employee in which the DTE Energy Group has a valid business
interest. With respect to retaining, destroying, transferring, sharing, copying and permitting access to all such information, the DTE Energy Group and DT Midstream shall each comply with all applicable Laws, regulations and internal policies, and
each Party shall indemnify and hold harmless the other Party from and against any and all Liability that arises from a failure (by the indemnifying Party) to so comply with all applicable Laws, regulations and internal policies applicable to such
information. 
 SECTION 7.09. Tax Deductions. Except as required by a Determination, (a) any DT Midstream Legacy Employee
Compensation Deduction shall be claimed solely by DT Midstream or an applicable member of the DT Midstream Group, (b) any DT Midstream Corporate Employee Compensation Deduction shall be claimed solely by DTE Energy or an applicable member of
the DTE Energy Group, (c) any DTE Energy Equity Compensation Deduction shall be claimed solely by DTE Energy or an applicable member of the DTE Energy Group and (d) any DT Midstream Equity Compensation Deduction shall be claimed solely by
DT Midstream or an applicable member of the DT Midstream Group. 

  
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 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 ARTICLE VIII 

GENERAL PROVISIONS 

SECTION 8.01. Employment and Plan Rights. Notwithstanding anything to the contrary in this Agreement, the Parties expressly
acknowledge and agree that (a) this Agreement is not intended to create a service-related contract between any member of the DTE Energy Group or the DT Midstream Group, on the one hand, and any employee or service provider, on the other, nor
may any current or former employee or service provider of the DTE Energy Group or the DT Midstream Group rely on this Agreement as the basis for any breach of any service-related contract claim against any member of the DTE Energy Group or the DT
Midstream Group, (b) nothing in this Agreement shall be deemed or construed to require any member of the DTE Energy Group or the DT Midstream Group to continue to employ any particular employee or service provider for any period before or after
the Distribution Date, (c) nothing in this Agreement shall be deemed or construed to limit the right of any member of the DTE Energy Group or the DT Midstream Group to terminate the employment or service of any employee or service provider at
any time before or after the Distribution Date and (d) nothing in this Agreement shall be construed as establishing or amending any Benefit Plan, or any other plan, policy, agreement or arrangement for the benefit of any employee or any other
person of the DTE Energy Group or the DT Midstream Group. 
 SECTION 8.02. Confidentiality. Each Party agrees that any information
conveyed or otherwise received by or on behalf of a Party in conjunction herewith is confidential and is subject to the terms of the confidentiality provisions set forth in Section 7.09 of the Distribution Agreement. 

SECTION 8.03. Administrative Complaints/Litigation. (a) Except as otherwise provided in this Agreement and as set forth in
Section 8.03(b), as of the Distribution Date, DT Midstream shall assume, and be solely liable for, the handling, administration, investigation and defense of actions related to a DT Midstream Benefit Plan or DT Midstream Employees, including
ERISA, occupational safety and health, employment standards, union grievances, wrongful dismissal, discrimination or human rights and unemployment compensation claims, asserted at any time against the DTE Energy Group or the DT Midstream Group by
any Person other than those related to a DTE Energy Benefit Plan. Any Liabilities arising from such actions shall be deemed DT Midstream Liabilities under the Distribution Agreement. 

(b) Except as otherwise provided in this Agreement, as of the Distribution Date, DTE Energy shall assume, and be solely liable for, the
handling, administration, investigation and defense of actions related to a DTE Energy Benefit Plan or any current or former service provider of the DTE Energy Group who does not become a DT Midstream Employee, including ERISA, occupational safety
and health, employment standards, union grievances, wrongful dismissal, discrimination or human rights and unemployment compensation claims, asserted at any time against the DTE Energy Group or the DT Midstream Group by any Person. Any Liabilities
arising from such actions or as otherwise expressly provided in this Agreement shall be deemed DTE Energy Liabilities under the Distribution Agreement. 

  
 20 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 8.04. Reimbursement and Indemnification. The Parties agree to reimburse each
other, within 30 days of receipt from the other Party of appropriate verification, for all costs and expenses which each may incur on behalf of the other as a result of any of the Benefit Plans and as contemplated by Sections 4.03(b) and 5.03.
All Liabilities retained, assumed or indemnified against by the DT Midstream Group pursuant to this Agreement shall be subject to indemnification under Section 6.02 of the Distribution Agreement and all Liabilities retained, assumed or
indemnified against by the DTE Energy Group pursuant to this Agreement shall be subject to indemnification under Section 6.03 of the Distribution Agreement, and all such Liabilities shall be subject to the indemnification procedures set forth
in Article VI of the Distribution Agreement. 
 SECTION 8.05. Entire Agreement. This Agreement, including any schedules hereto
and the sections of the Distribution Agreement referenced herein, contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes all previous agreements, negotiations, discussions, writings,
understandings, commitments and conversations with respect to such subject matter, and there are no agreements or understandings between the Parties with respect to the subject matter hereof other than those set forth or referred to herein or
therein. 
 SECTION 8.06. Section 409A. The Parties shall cooperate in good faith and use reasonable best efforts to ensure that the
Transactions shall not result in adverse tax consequences under Section 409A of the Code to any Business Employee (or any of their respective beneficiaries), in respect of their respective benefits under any Benefit Plan. 

SECTION 8.07. Amendment. No provisions of this Agreement shall be deemed waived, amended, supplemented or modified by any Party hereto,
unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of each Party. 

SECTION 8.08. Waiver. Any term or provision of this Agreement may be waived, or the time for its performance may be extended, by the
Party or parties entitled to the benefit thereof. Any such waiver shall be validly and sufficiently given for the purposes of this Agreement if, as to any Party, it is in writing signed by an authorized representative of such Party. The failure of
either Party to enforce at any time any provision of this Agreement shall not be construed to be a waiver of such provision, or in any way to affect the validity of this Agreement or any part hereof or the right of any Party thereafter to enforce
each and every such provision. No waiver of any breach of this Agreement shall be held to constitute a waiver of any other or subsequent breach. 

  
 21 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 8.09. Execution in Counterparts. This Agreement may be executed in one or more
counterparts, all of which counterparts shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each Party and delivered to the other Party. This Agreement may be executed by
electronic or PDF signature and scanned and exchanged by electronic mail, and such electronic or PDF signature shall constitute an original for all purposes. 

SECTION 8.10. No Third-Party Beneficiaries. No Business Employee or other current or former employee of any member of the DTE Energy
Group or any member of the DT Midstream Group (or his/her spouse, dependent or beneficiary), or any other person not a Party to this Agreement, shall be entitled to assert any claim hereunder. The provisions of this Agreement are solely for the
benefit of the Parties and are not intended to confer upon any Person except the Parties any rights or remedies hereunder and there are no third-Party beneficiaries of this Agreement and this Agreement shall not provide any third Person with any
remedy, claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to this Agreement. 

SECTION 8.11. Notices. All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly
given when delivered or mailed in accordance with the terms of Section 11.05 of the Distribution Agreement. 
 SECTION 8.12. Force
Majeure. No Party shall be deemed in default of this Agreement to the extent that any delay or failure in the performance of its obligations under this Agreement results from any cause beyond its reasonable control and without its fault or
negligence, including acts of God, acts of civil or military authority, embargoes, acts of terrorism, epidemics, war, riots, insurrections, fires, explosions, earthquakes, floods, unusually severe weather conditions, labor problems or unavailability
of parts, or, in the case of computer systems, any failure in electrical or air conditioning equipment. In the event of any such excused delay, the time for performance shall be extended for a period equal to the time lost by reason of the delay. A
Party claiming the benefit of this provision shall, as soon as reasonably practicable after the occurrence of any such event, (a) notify the other Party of the nature and extent of any such force majeure condition and (b) use due diligence
to remove any such causes and resume performance under this Agreement as soon as reasonably feasible. 
 SECTION 8.13. No Public
Announcement. Neither Party hereto shall, without the prior written approval of the other Party, make any press release or other public announcement concerning the transactions contemplated by this Agreement, except as and to the extent that any
such Party shall be so obligated by Law or the rules of any regulatory body or stock exchange, in which case the other Party shall be advised and the Parties shall use their respective commercially reasonable efforts to cause a mutually agreeable
release or announcement to be issued; provided, however, that the foregoing shall not preclude communications or disclosures necessary to implement the provisions of this Agreement or to comply with the accounting and U.S. Securities and
Exchange Commission disclosure obligations or the rules of any stock exchange. 
 SECTION 8.14. Limited Liability. Notwithstanding
any other provision of this Agreement, no Person who is a stockholder, director, employee, officer, agent or representative of DT Midstream or DTE Energy, in such individual’s capacity as such, shall have any Liability in respect of or relating
to the covenants or obligations of DT Midstream or DTE Energy, as applicable, under this Agreement, the Distribution Agreement or any Ancillary Agreement or in respect of any certificate delivered with respect hereto or thereto, and, to the fullest
extent legally permissible, each of DT Midstream and DTE Energy, for itself and its stockholders, directors, employees, officers and Affiliates, waives and agrees not to seek to assert or enforce any such liability that any such individual otherwise
might have pursuant to applicable Law. 

  
 22 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION 8.15. Effect if Distribution Does Not Occur. Notwithstanding anything in this
Agreement to the contrary, if the Distribution Agreement is terminated prior to the Distribution, this Agreement shall be of no further force and effect. 

SECTION 8.16. Miscellaneous. Except as otherwise expressly set forth in this Agreement, the provisions of Article XI of the
Distribution Agreement shall apply mutatis mutandis to this Agreement. 
 [Signature Page Follows] 

  
 23 

  

 Confidential Treatment Requested by DT Midstream, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their authorized
representatives as of the date first above written. 
  

			
	DTE ENERGY COMPANY
		
	By:	 	  

		 	Name:
		 	Title:
	
	DT MIDSTREAM, INC.
		
	By:	 	  

		 	Name:
		 	Title:Document

						
	
	Christine Wolf
SVP & Chief Human Resources Officer
Phone: 412-454-2376
Email: cwolf@wesco.com

May 28, 2020
Theodore A. Dosch
226 Northbridge Ct.
Benton Harbor, MI 49022

Dear Ted:
    We are very excited about the transformational combination of WESCO International, Inc. (the “Company”) and Anixter International Inc. (“Anixter”).  It presents a once-in-a-lifetime opportunity to create the premier electrical and data communications distribution company, and we believe that your major leadership role in the organization will be a key to its future success.  Together, we can create tremendous value for our stockholders, our world-class suppliers and customers, and our employees.  I am pleased to extend this offer for you to become the Executive Vice President Strategy & Chief Transformation Officer of our company after the completion of the transaction.  
Reference is made to the Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, Warrior Merger Sub, Inc. (“Merger Sub”), and Anixter dated as of January 10, 2020, pursuant to which Merger Sub will merge with and into Anixter (the “Merger”), with Anixter surviving as a wholly owned subsidiary of the Company.  This letter (this “Letter”) is intended to memorialize our agreement regarding the terms of your employment with the Company, and your related compensation and benefits, upon and following the closing of the Merger (the “Closing”).  In the event that (i) your employment with Anixter terminates for any reason prior to the date on which the Closing occurs (the “Effective Date”), or (ii) the Merger Agreement is terminated without the occurrence of the Merger, this Agreement (as defined below) will be void ab initio and will have no further force or effect and none of the parties will have any obligations hereunder.  Capitalized terms used but not otherwise defined herein will have the meanings given to them in the Merger Agreement.
1.    Employment Terms.  Effective as of the Effective Date, the principal terms of your compensation and benefits in connection with your employment with the Company will be as set forth on Exhibit A to this Letter (the “Term Sheet” and together with this Letter and Exhibit B hereto, this “Agreement”).
2.    Restrictive Covenants.  As a condition of your continued employment with the Company following the Effective Date and your entitlement to receive the compensation and benefits set forth in the Term Sheet, you hereby acknowledge and agree that you are and shall continue to be subject to restrictive covenants set forth in Section 7 of the Change of Control Severance Agreement between you and Anixter dated as of September 4, 2014 (the “CIC 
WESCO Distribution, Inc.      225 W. Station Square Drive, Suite 700       Pittsburgh, PA 15219-1122        www.wesco.com

Agreement”) as modified, augmented and set forth in Exhibit B hereto (the “Restrictive Covenants”).
3.    Certain Reductions Due to Section 280G.  Notwithstanding any provision of this Agreement to the contrary, in the event it shall be (or is subsequently) determined that any payment, benefit or acceleration of vesting by the Company or Anixter to you or for your benefit (whether pursuant to the terms of this Agreement or otherwise) (“Potential Parachute Payments”) would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”) or any similar tax payable under any United States federal, state, local, foreign or other law (“Excise Taxes”), then the Potential Parachute Payments shall be reduced to an amount that is one dollar less than the smallest amount that would give rise to such excise tax (the “Reduced Amount”) if and only if such Reduced Amount would be greater than the net after-tax proceeds (taking into account both the Excise Tax and any interest or penalties payable by you with respect thereto) of the unreduced Potential Parachute Payments payable to you.  If any Potential Parachute Payments are required to be reduced pursuant to this paragraph, there shall be no discretion in the ordering of the Potential Parachute Payments so reduced, and such reductions shall be applied first to the amount of the Cash Retention Award (as defined in the Term Sheet), and if further reductions are necessary, such reductions shall be applied on a prorated basis to all other Potential Parachute Payments.
4.    Section 409A.  It is intended that the payments and benefits provided under this Agreement will be exempt from the application of, or comply with, the requirements of Section 409A of the Code.  This Agreement will be construed in a manner that effects such intent to the greatest extent possible.  However, the Company shall not be held liable for any taxes, interests or penalties that you owe with respect to any payments or benefits provided under this Agreement.  With respect to any amounts payable hereunder in installments, each installment shall be treated as a separate payment for purposes of Section 409A of the Code.  For purposes of any payment due hereunder upon a termination of employment that is subject to the provisions of Section 409A of the Code, such phrase or any similar phrase shall mean a “separation from service” as defined by the default provisions of Treasury Regulation 1.409A-1(h).  Notwithstanding any other provision of this Agreement to the contrary, if you are a “specified employee” within the meaning of Section 409A of the Code (as determined in accordance with the methodology established by the Company), amounts that constitute “nonqualified deferred compensation” subject to Section 409A of the Code that would otherwise be payable by reason of your separation from service during the six-month period immediately following such separation from service shall instead be paid or provided on the first business day following the date that is six months following your separation from service.  If you die following your separation from service and prior to the payment of any amounts delayed on account of Section 409A of the Code, such amounts shall be paid to the personal representative of your estate within 30 days following the date of your death. 
5.    Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflicting provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the laws of any jurisdiction other than the State of Delaware to be applied.  In furtherance of the foregoing, the internal laws of the State of Delaware will control the 
2

interpretation and construction of this Agreement, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply.  
6.    Arbitration.  Except with respect to claims for breach of the Restrictive Covenants, for which the Company may seek enforcement in any court having competent jurisdiction at its election, any dispute arising between you and the Company with respect to the validity, performance or interpretation of this Agreement shall be submitted to and determined in binding arbitration before a panel of three arbitrators in Pittsburgh, Pennsylvania, for resolution in accordance with the rules of the American Arbitration Association, modified to provide that the decision of the arbitrators shall be binding on the parties; shall be furnished in writing, separately and specifically stating the findings of fact and conclusions of law on which the decision is based; shall be kept confidential by the arbitrators and the parties; and shall be rendered within 60 days following the arbitrators being impaneled.  You shall bear your, and the Company shall bear its, own costs and expenses associated with the arbitration.  The arbitrators shall be selected in accordance with the rules of the American Arbitration Association.
7.    Entire Agreement; Amendments.  This Agreement represents the complete understanding between you and the Company regarding the subject matter of this Agreement. Effective as of the Effective Date, this Agreement supersedes the CIC Agreement in its entirety and you have no further rights or entitlements under the CIC Agreement. No amendment to this Agreement shall be binding upon either party unless in writing and signed by or on behalf of such party.  The obligations of the parties hereto are severable and divisible.  In the event any provision hereunder is determined to be illegal or unenforceable, the remainder of this Agreement shall continue in full force and effect.
8.    Employment At Will; Tax Withholding.  This Agreement does not provide a guarantee of employment for any specific duration or a guarantee of any fixed terms or conditions of employment.  Your employment with the Company will be “at will”, which means that either you or the Company may terminate your employment relationship at any time, with or without cause or notice.  Employment with the Company for purposes of this Agreement shall include employment with any subsidiary or affiliate of the Company.  The Company reserves the right to withhold or cause to be withheld applicable taxes from any amounts paid pursuant to this Agreement to the extent required by applicable law.  You, or your estate, shall be responsible for any and all tax liability imposed on amounts paid hereunder. 
[Signature Page Follows.]

3

						
	Sincerely, 
	By:	/s/ Christine A. Wolf
		Name: Christine A. Wolf
		Title: SVP, Chief Human Resources Officer
	Acknowledged and Agreed:
	/s/ Theodore A. Dosch

	Theodore A. Dosch

Exhibit A
Term Sheet
						
	Title; Reporting:	Executive Vice President Strategy & Chief Transformation Officer, reporting to the Chief Executive Officer of the Company.
	Annual Base Salary:	$625,000 annual rate to be paid in accordance with the applicable payroll practice in effect from time to time
	Annual Cash Bonus:	Your target annual bonus will be 100% of your annual base salary with a payout opportunity of zero to 200% of your annual base salary, based on the achievement of performance objectives as established annually by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”).  Payment of your earned annual bonus (if any) is subject to your continued employment through the applicable bonus payment date, except as otherwise provided in this Term Sheet or by the terms of the Company’s annual bonus program as in effect from time to time.
You will have a full-year bonus opportunity (without proration) for the Company’s fiscal year 2020.  Your actual bonus payout for the Company’s fiscal year 2020 will be based on (i) with respect to a minimum of 75% of the total bonus opportunity, the actual level of achievement, as determined by the Company, of the fiscal year 2020 performance goals (both corporate and individual) established by Anixter in the first quarter of 2020, measured with respect to the full fiscal year 2020 and (ii) with respect to a maximum of 25% of the total opportunity, the actual level of achievement, as determined by the Company, of the performance goals to be established by the Company after the Effective Date based on combined entity performance and your role in the integration, measured with respect to the period from the Effective Date through the end of the Company’s fiscal year 2020. 
 
If your employment is terminated by the Company without Cause on or after the Effective Date and prior to the payment of the fiscal year 2020 bonus, then, subject to your execution and delivery of a release of claims in the form provided by the Company and such release becoming effective and irrevocable within the time period specified therein, you will be entitled to receive, within 60 days after your termination date, a prorated 2020 bonus equal to the product of your target bonus multiplied by a fraction, the numerator of which is the number of days from January 1, 2020 through the earlier of your termination date and December 31, 2020 and the denominator of which is 366.

						
	Annual Equity Awards:	Beginning with the Company’s fiscal year 2021, you will be eligible to receive annual equity awards during your employment with the Company.  It is expected that your annual equity awards for the Company’s fiscal year 2021 will have an aggregate grant date fair value of $1,400,000, subject to approval by the Compensation Committee.  The form, terms and conditions of your annual equity awards will be based on performance and award guidelines established periodically by the Compensation Committee.
	Stock Ownership Guidelines:	It is expected that you achieve and maintain an ownership position in Company common stock equal to 2x your annual base salary no later than 5 years following your date of employment.
	Health, Welfare, and Other Benefit Programs:	You will be eligible to participate in all corporate benefit programs in accordance with standard policies and procedures in effect from time to time, it being understood that you will continue to participate in Anixter’s benefit programs unless and until the Company determines that you should be transitioned to the Company benefit programs.
	Cash Retention Award:	On the Effective Date, you will be granted a cash retention award (the “Cash Retention Award”) in the aggregate amount of $2,660,000.  The Cash Retention Award will vest in equal installments on each of the first two anniversaries of the Effective Date, subject, in each case, to your continued employment with the Company through the applicable anniversary date.  If your employment is terminated by the Company without Cause (as defined below in this Term Sheet), then, subject to your execution and delivery of a release of claims in the form provided by the Company and such release becoming effective and irrevocable within the time period specified therein, any then-unvested portion of the Cash Retention Award will vest.  Any vested portion of the Cash Retention Award will be paid within 60 days following the applicable vesting date.

	Special Retention Award:	On the first trading that is at least 10 calendar days after the Effective Date, you will be granted a Company equity award in the form of restricted stock units (which may provide for settlement in common stock or cash, as determined by the Company in its discretion) with a grant date value of $1,400,000 (the “Special Retention Award”).  The Special Retention Award will vest as to 30% of the restricted stock units subject to the Special Retention Award on each of the first and second anniversaries of the grant date and as to 40% of the restricted stock units subject to the Special Retention Award on the third anniversary of the grant date, subject, in each case, to your continued employment with the Company through the applicable anniversary date, and will otherwise be subject to the terms and conditions set forth in the applicable award agreement.

A-2

						
	Assumed Award:	Upon the closing of the Merger, the annual restricted stock unit award granted to you by Anixter in March 2020 will be assumed by the Company in accordance with the terms of the Merger Agreement and the applicable award agreement and will otherwise continue to be subject to its terms and conditions in effect as of immediately prior to the closing of the Merger, except that for purposes of such award, the definitions of “Cause” and “Good Reason” are hereby superseded and replaced in their entirety with the corresponding definitions set forth below in this Term Sheet.

	Severance:	If your employment is terminated by the Company without Cause on or after the Effective Date, then, subject to your execution and delivery of a release of claims in the form provided by the Company and such release becoming effective and irrevocable within the time period specified therein, you will be entitled to receive the following severance payments:
(i) cash severance equal to 12 months of your then-current annual base salary, payable in installments over the 12 months following your termination date (provided that any installments that would otherwise have been paid during the period between your termination date and the 60th day following your termination date shall be accumulated and paid on the first regularly scheduled payroll date occurring after the 60th day following your termination date); and
(ii) a prorated bonus, payable within 60 days following your termination date, equal to the product of your then-current target bonus multiplied by a fraction, the numerator of which is the number of days from January 1 of the fiscal year in which your termination date occurs through the earlier of your termination date and December 31 of such fiscal year and the denominator of which is the total number of days in such fiscal year.  However, in light of the prorated bonus contemplated by the section of this Term Sheet entitled “Annual Cash Bonus” and in order to avoid a duplication of payments, if your employment is terminated by the Company without Cause during fiscal year 2020, you shall not be entitled to the prorated target bonus described in this clause (ii).
If the Company adopts a change in control severance plan on or after the Effective Date, then you will be eligible to participate in such plan in accordance with its terms as in effect from time to time. 

	Certain Definitions:	For purposes of the Agreement, the following capitalized terms shall have the following meanings:

A-3

						
		“Cause” means:
(i) your willful and continued failure to substantially perform your employment duties (other than such failure resulting from physical or mental incapacity), after a written demand for substantial performance is delivered to you that specifically identifies the manner in which the Company believes you have failed to perform your duties, and after you have failed to resume substantial performance of your duties on a continuous basis within thirty (30) calendar days of receiving such demand; 
(ii) the Company’s determination, in good faith, that you have engaged in willful misconduct or gross negligence relating to the business of the Company; 
(iii) a plea of guilty or nolo contendere by you to, or your conviction of, a felony under federal or state law; or
(iv) your material breach of any written policy of the Company, including without limitation the Company’s Code of Conduct. 
“Good Reason” means, without your express written consent, the occurrence of any of the following events:
(i) a material diminution in your reporting relationship or authority, duties and responsibilities with the Company, in each case, as in effect immediately after the Effective Date (provided that the Company may assign the duties and responsibilities of the chief information officer to another executive and such change shall not constitute Good Reason); 
(ii) a material reduction in your target total cash compensation (consisting of rate of annual base salary and target bonus opportunity, in each case, as set forth in this Term Sheet or as the same may be increased from time to time after the Effective Date), excluding any reduction that occurs in connection with an across-the-board reduction applicable to substantially the entire senior management team; or
(iii) any requirement that you be based more than 50 miles from the facility where you are based immediately before the Effective Date (excluding reasonable travel on Company business to the extent substantially consistent with your authority, duties or responsibilities with the Company);
provided, however, that Good Reason shall not exist unless (A) you provide written notice to the Company within 90 days of the initial 

A-4

						
		occurrence of any of the events described in clause (i), (ii) or (iii), or, if later, the date on which you first have knowledge of the circumstances constituting such event; (B) the Company fails to cure the event or circumstances within thirty (30) days after receipt of such notice; and (C) your termination of employment is effective not later than 180 days following the initial existence of the event giving rise to Good Reason.

A-5

Exhibit B
Restrictive Covenants
(a)    Non-Competition.  You acknowledge and recognize the confidential information and records provided by the Company and Anixter and their respective successors and assigns, the benefits contemplated under this Agreement, and the professional training and experience you have received from Anixter and will receive from the Company and Anixter, as well as the highly competitive nature of the business of the Company and Anixter, and in consideration of all of the above, you agree that (i) during your employment with the Company and (ii) for the (A) 24 months thereafter, if your termination of employment occurs on or prior to the second anniversary of the Effective Date or (B) 12 months thereafter, if your termination of employment occurs after the second anniversary of the Effective Date (clause (A) or (B), as applicable, the “Restriction Period”), you shall not engage, directly or indirectly, in any Covered Business (as defined below) in any state of the United States of America or any nation in which the Company, Anixter, and their respective subsidiaries and affiliates (collectively, the “Company Group”) is conducting business as of the date of your termination of employment with the Company Group.  For purposes of this Letter, “Covered Business” shall mean any business engaged in by the Company Group immediately prior to the date of your termination of employment with the Company Group.  For purposes of this clause (a), the phrase “engaging, directly or indirectly” shall mean engaging directly or having an interest, directly or indirectly, as an owner, partner, shareholder, agent, representative, employee, officer, director, independent contractor, capital investor, lender, consultant or advisor (other than as the holder of less than 1% of the outstanding stock of a publicly traded corporation or less than 3% of any private equity fund), either alone or in association with others, in the operation of any aspect of any type of business or enterprise engaged in any aspect of the Covered Business.
(b)    Non-Solicitation.  You agree that during your employment with the Company Group and for the duration of the Restriction Period, you shall not, directly or indirectly, (i) solicit or attempt to solicit any of the employees, agents, consultants, or representatives of the Company Group to leave the Company Group; (ii) solicit or attempt to solicit any of the employees, agents, consultants or representatives of the Company Group to become employees, agents, representatives or consultants of any other person or entity; (iii) call upon, contact or solicit any customer or prospective customer of the Company Group (A) with whom you dealt directly or indirectly or for which you had responsibility while employed by the Company Group or (B) about whom you acquired Confidential Information (as defined below) during your employment with the Company Group, for the purpose of offering, selling or providing products or services that are competitive with those then offered by the Company Group; or (iv) solicit or divert, or attempt to solicit or divert, any opportunity or business of the Company Group to any competitor. 
(c)    Reasonableness.  You understand that the provisions of clauses (a) and (b) may limit your ability to earn a livelihood in a business similar to the businesses of the Company Group but nevertheless agree and hereby acknowledge that the restrictions and limitations thereof are reasonable in scope, area, and duration, are reasonably necessary to protect the goodwill and business interests of the Company, and that the consideration provided under, or 

contemplated by, this Agreement is sufficient to justify the restrictions contained in such provisions.  Accordingly, in consideration thereof and in light of your education, skills and abilities, you agree that the you shall not assert that, and it should not be considered that, such provisions are either unreasonable in scope, area, or duration, or will prevent you from earning a living, or otherwise are void, voidable, or unenforceable or should be voided or held unenforceable.
(d)    Nondisparagement.  You shall not disparage, malign, or otherwise say or do anything which is intended to or could reasonably be expected to adversely affect the reputation or standing of the Company.
(e)    Enforcement.  
(1)    The parties hereto agree and acknowledge that the covenants and agreements contained herein are reasonable in scope, area, and duration and necessary to protect the reasonable competitive business interests of the Company Group, including, without limitation, the value of the proprietary information and goodwill of the Company Group.
(2)    You agree that the covenants and undertakings contained in this Exhibit B relate to matters which are of a special, unique and extraordinary character and that the Company cannot be reasonably or adequately compensated in damages in an action at law in the event that you breach any of these covenants or undertakings.  Therefore, you agree that the Company shall be entitled, as a matter of course, without the need to prove irreparable injury, to an injunction, restraining order or other equitable relief from any court of competent jurisdiction, restraining any violation or threatened violation of any of such terms by you and such other persons as the court shall order.  You agree to pay costs and legal fees incurred by the Company in obtaining such injunction and the Company agrees to pay costs and legal fees incurred by you in any unsuccessful effort to obtain such injunction.
(3)    Rights and remedies provided for in this clause (e) are cumulative and shall be in addition to rights and remedies otherwise available to the parties under any other agreement or applicable law.
(4)    In the event that any provision of this Exhibit B shall to any extent be held invalid, unreasonable or unenforceable in any circumstances, the parties hereto agree that the remainder of this Exhibit B and the application of such provision of this Exhibit B to other circumstances shall be valid and enforceable to the fullest extent permitted by law.  If any provision of this Exhibit B is held to be unenforceable because of the scope or duration of or the area covered by such provision, the parties hereto agree that the court or arbitrator making such determination shall reduce the scope, duration and/or area of such provision (and shall substitute appropriate provisions for any such unenforceable provisions to the minimum extent necessary) in order to make such provision enforceable to the fullest extent permitted by law, and/or shall delete specific words and phrases, and such modified provision shall then be enforceable and shall be enforced.  The parties hereto recognize that if, in any judicial proceeding, a court shall refuse to enforce any of the separate covenants contained in this Exhibit B, then that unenforceable covenant 
B-2

contained in this Exhibit B shall be deemed eliminated from these provisions to the extent necessary to permit the remaining separate covenants to be enforced.  In the event that any court or arbitrator determines that the time period or the area, or both, are unreasonable and that any of the covenants is to that extent unenforceable, the parties hereto agree that such covenants will remain in full force and effect, first, for the greatest time period, and second, in the greatest geographical area that would not render them unenforceable.
			
	(f)    “Confidential Information” means information regarding the business or operations of the Company Group, both oral and written, including, but not limited to, documents and Company Group information contained in such documents; drawings; designs; plans; specifications; instructions; data; manuals; electronic media such as computer disks, computer programs, and data stored electronically; security code numbers; financial, marketing and strategic information; product pricing and customer information, that any member of the Company Group discloses to you or you otherwise learn or ascertain in any manner as a result of, or in relation to, your employment with the Company Group.  Other than as required by applicable law, you agree: (i) to use Confidential Information only for the purposes required or appropriate for your employment with the Company Group; (ii) not to disclose to anyone Confidential Information without the Company’s prior written approval; and (iii) not to allow anyone’s use or access to Confidential Information, other than as required or appropriate for your employment with the Company Group.  The foregoing shall not apply to information that is in the public domain, provided that you were not responsible, directly or indirectly, for such information entering into public domain without the Company’s approval.  You agree to return to the Company all Confidential Information in your possession upon termination of your employment or at any time requested by the Company. 

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