Document:

EX-10.2

 Exhibit 10.2 

TRADEMARK LICENSE AGREEMENT 

THIS TRADEMARK LICENSE AGREEMENT (“Agreement”) is entered into on
            , 2015 and is effective as of the Effective Time (as defined in the Separation Agreement (defined below)) by and between Edgewell Personal Care Brands LLC
(“Edgewell”) and Wilkinson Sword Gmbh, a [                    ] (“WS” and, together with Edgewell,
the “Licensors”) and Energizer Holdings, Inc., a Missouri corporation formerly known as Energizer SpinCo, Inc. (“Energizer”). 

WHEREAS, pursuant to that certain Separation and Distribution Agreement by and between Energizer Holdings, Inc., a Missouri corporation, and
Energizer, dated as of [                    ] (the “Separation Agreement”), each of the Licensors has agreed to grant to
Energizer a royalty-free, non-exclusive license to use the Licensed Trademarks it owns during the Trademark License Term (as such terms are defined below) and subject to the terms, provisions, and conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual premises, promises, covenants, and obligations of the parties set forth herein, and other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows: 

1. Definitions. Capitalized terms used herein without definition shall have the meanings assigned to them in the Separation Agreement.
In addition to terms defined elsewhere in this Agreement, the following terms shall have the following meanings for purposes of this Agreement: 

(a) “Existing Packaging” means any packaging, including as used for existing inventory and including cartons and other
packaging used in shipping, that is included in the EHP Assets and that bears any of the Licensed Trademarks. 
 (b) “Existing
Promotional Materials” means those advertising, marketing, sales, and promotional materials (including interior and exterior signage) in existence as of the Effective Time that bear any of the Licensed Trademarks and are included in the EHP
Assets. 
 (c) “Licensed Trademarks” means those trademarks, service marks, trade names, and logos identified on Exhibit
A attached hereto. 
 2. License to Licensed Trademarks. 

(a) License Grant. Subject to the applicable terms and conditions of this Agreement, each of the Licensors hereby grants Energizer (for
itself and the beneficial use of Energizer’s Subsidiaries), and Energizer hereby accepts, a worldwide, non-exclusive, irrevocable (except as provided in Section 3 below), non-transferrable (except as provided in
Section 4(c) below), royalty-free license to the Licensed Trademarks owned by such Licensor, and the goodwill associated therewith, only for the following purposes and only during the Trademark License Term: 

(i) To use the Existing Promotional Materials and to use, make, and have made advertising, marketing, sales, and other promotional materials
that are substantially similar to Existing Promotional Materials for advertising, marketing, sales, or promotional purposes that are substantially similar to such purposes for which the Existing Promotional Materials were used or held for use as of
the Effective Time; 

 (ii) To use the Existing Packaging and to use, make, and have made packaging that is
substantially similar to Existing Packaging in connection with the sale, offer for sale, advertising, marketing, distribution, and promotion of the existing inventory for which such Existing Packaging was used as of the Effective Time and of
products that are substantially similar to those products for which the Existing Packaging was used or held for use as of the Effective Time; and 

(iii) To use, as the case may be, the SCHICK or WILKINSON SWORD Licensed Trademark as a component of the name under which it does business;
provided, however, that uses of the SCHICK or WILKINSON SWORD Licensed Trademark pursuant to this item (iii) shall be limited to uses in connection with legal documents and other uses for which Energizer is required to use its legal name
and nothing in this item (iii) shall be deemed to grant Energizer the right to use or employ the SCHICK or WILKINSON SWORD Licensed Trademark as a trademark or service mark for purposes of selling, offering for sale, advertising, marketing,
distribution or promotion of products or services other than as permitted pursuant to item (i) or (ii) above. 
 (b) Quality
Control and Property Rights. 
 (i) Energizer recognizes that the Licensed Trademarks, including the associated goodwill, have great
value to the Licensors. Energizer covenants and agrees that all uses by it of the Licensed Trademarks during the Trademark License Term, including but not limited to all goodwill accrued by, and due to, Energizer’s use of the Licensed
Trademarks anywhere, shall inure solely to the benefit of Licensor that owns such Licensed Trademarks. 
 (ii) Energizer covenants and
agrees that it shall use the Licensed Trademarks only: (A) in a manner and form designed to maintain the high quality of the Licensed Trademarks and keeping with the image, reputation and goodwill symbolized by and associated with the Licensed
Trademarks as of the Effective Time; (B) in a form and manner that is consistent with the use of the Licensed Trademarks in connection with the EHP Business as of the Effective Time; (C) in a manner and form that protects the
Licensors’ ownership interests therein; and (D) in a manner and form that complies with all applicable federal, state, local and foreign laws, rules and regulations. 

(iii) In order to ensure that Energizer complies with the quality standards set forth in this Section, each Licensor shall have the right, at
any time and from time to time to request upon reasonable notice to Energizer, and Energizer shall provide, full and open access at reasonable times to the facilities at which Energizer manufactures, processes, or warehouses products bearing the
Licensed Trademarks owned by such Licensor in order to verify that the quality of products bearing such Licensed Trademarks is consistent with the standards imposed by this Agreement. 

  
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 (iv) In the event a Licensor determines that any promotional materials or packaging licensed for
use under this Agreement bearing any Licensed Trademark it owns, or any products sold or offered for sale in any such packaging or advertised, marketed, or promoted using any such promotional materials fall below such Licensor’s quality
standards as set forth in Section 2(b)(ii) above, such Licensor may notify Energizer thereof in writing, providing Energizer with an explanation as to how such promotional materials, packaging, or products fail to conform to such
standards and Energizer shall change such promotional materials, packaging, or products to conform thereto within a commercially reasonable time. 

(v) Energizer, during the Term of this Agreement, in all public uses of the Licensed Trademarks, where commercially practicable and possible,
will use its best efforts to indicate that the Licensed Trademarks are owned by Edgewell or WS, as applicable; provided, however, that Energizer shall have no obligation to modify any Existing Packaging or Existing Promotional Materials, except to
the extent necessary to comply with notice obligations under the Separation Agreement. 
 (vi) Energizer acknowledges, understands and
agrees that, it shall not knowingly perform, do, or cause any act to be done, or fail to take any action, during or after the Trademark License Term, or assist any third party in performing, doing and/or causing any act to be done, that Energizer
knows or would reasonably expect to be detrimental to, injure or impair in any way or to any degree: (A) any of the Licensed Trademarks; (B) any applications for registration or registrations therefor; (C) the respective goodwill
related to any of the Licensed Trademarks; (D) the federal, state or common law and other rights of a Licensor in or to any of the Licensed Trademarks it owns; (E) a Licensor’s right, title, interest, and ownership in and to any of
the Licensed Trademarks it owns; or (F) the validity and enforceability of the any of the foregoing. 
 (vii) All rights in the
Licensed Trademarks other than those specifically granted to Energizer pursuant to this Agreement are expressly reserved by Edgewell or WS, as applicable. 

3. Term and Termination. 

(a) Termination Prior to the Effective Time. This Agreement shall terminate and be of no force and effect if the Separation Agreement
terminates prior to the Effective Time. In the event of any termination of this Agreement prior to the Effective Time, no party (or any of its directors or officers) shall have any Liability or further obligation to any other party with respect to
this Agreement. 
 (b) Trademark License Term. If this Agreement does not terminate prior to the Effective Time, then this Agreement
shall terminate two (2) years after the Effective Time, unless sooner terminated pursuant to this Section 3 (the “Trademark License Term”). 

(c) Termination Upon Breach. Energizer’s license to use a Licensed Trademark shall terminate thirty (30) days after its
receipt of written notice from the Licensor that owns such Licensed Trademark of Energizer’s breach of any material term of this Agreement applicable to such Licensed Trademark, unless Energizer cures such breach and

  
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notifies such Licensor in writing of such cure during such thirty (30) day period. Energizer’s license to use any other Licensed Trademarks shall survive any such termination of
Energizer’s right to use a Licensed Trademark until such license otherwise terminates in accordance with this Agreement. If Energizer’s license to a Licensed Trademark terminates in accordance with this Section 3(c), then upon
any such termination, Energizer shall immediately cease any and all use of such Licensed Trademark and, subject to the exceptions set forth in Section 3(g) below, Energizer shall have no further right to use such Licensed Trademark
anywhere, in any way, or for any purpose. 
 (d) Termination for Convenience. Energizer may terminate its license to use any of the
Licensed Trademarks at any time, upon thirty (30) days’ prior written notice of such termination to Licensors. 
 (e) Effect of
Termination. Subject to Sections 3(f) and 3(g) below, upon termination of this Agreement or earlier expiration or termination of Energizer’s license to use all of the Licensed Trademarks, Energizer shall cease any and all use of the
Licensed Trademarks and Energizer shall have no further right to use the Licensed Trademarks anywhere, in any way, or for any purpose, except as otherwise agreed by the parties. The provisions of Sections 1, 2(b)(vi), 3(f),
3(g), 5, 6 and 7 shall survive any termination or expiration of this Agreement. 
 (f) Sell-Off Period.
If (or to the extent) Energizer’s license to use any Licensed Trademarks terminates pursuant to Section 3(b) upon expiration of the two (2) year period beginning on the Effective Time, then Energizer may continue to distribute,
offer to sell, and sell goods (including goods in Existing Packaging) that were in existence as of the Effective Time, included in the EHP Assets and bear any such Licensed Trademark for an additional one (1) year following expiration of the
Trademark License Term (or until the earlier Change in Control of Energizer) (the “Sell-Off Period”); provided that all of the provisions of this Agreement applicable to Energizer’s use of any such Licensed Trademarks shall
apply during such Sell-Off Period and Energizer’s right to use any such Licensed Trademarks shall be subject to Energizer’s continued compliance with such terms during the Sell-Off Period; and provided further, however, that there shall be
no Sell-Off Period if there has been a Change in Control prior to expiration of the two (2) year period beginning on the Effective Time. 

(g) Continuing Rights in Licensed Trademarks. Notwithstanding expiration or termination of the Trademark License Term for any reason,
Energizer may continue to use the Licensed Trademarks: (i) in connection with making factual and accurate reference in a non-prominent manner that it was formerly affiliated with Edgewell or WS, (ii) in a manner that would constitute
“fair use” under applicable law if any unaffiliated third party made such use or would otherwise be legally permissible for any unaffiliated third party without the consent Edgewell or WS, as applicable, (iii) in connection with
publicly displaying materials in existence as of the Effective Time and during the Term of the License Agreement that are included in Energizer Assets and that bear any Licensed Trademarks for archival purposes or historical purposes (such as in a
museum or museum-like display), (iv) making references in internal historical, corporate, and tax records, or (v) as otherwise provided in the Separation Agreement. 

  
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 4. Use by Subsidiaries/Assignment. 

(a) Same Rights. Any Subsidiary of Energizer shall have the same right to use and exploit the Licensed Trademarks as Energizer. Each
such Subsidiary that exercises such right shall be bound by, and shall comply with all of the terms and conditions of, this Agreement as though it were “Energizer”, hereunder, but Energizer, as applicable, shall at all times remain
responsible for all use or other exploitation of the Licensed Trademarks, under this Agreement by such Subsidiary. 
 (b) Change in
Subsidiary Status. If at any time a prior Subsidiary of Energizer no longer meets the definition of a Subsidiary of Energizer or should cease to exist, such prior Subsidiary shall cease to have the right to use or exploit such Licensed
Trademarks. 
 (c) Assignment. Energizer shall not assign or otherwise transfer, by operation of law or otherwise, this Agreement or
any of its rights under this Agreement to a Third Party without the prior, written consent of Licensors and any such assignment without such prior written consent shall be null and void; provided, however, that that no such consent
shall be required for the assignment of Energizer’s rights and obligations under this Agreement if: (a) Energizer (or any of its successors or permitted assigns) (i) shall consolidate with or merge into any other Person and shall not
be the continuing or surviving Business Entity of such consolidation or merger or (ii) shall transfer all or substantially all of its properties and/or Assets to any Person, and (b) in any such case, the resulting, surviving or assignee
Person expressly assumes all of the obligations of Energizer (or its successors or permitted assigns, as applicable) under this Agreement. No assignment permitted by this Section 4(c) shall release Energizer from liability for the full
performance of its obligations under this Agreement. Each Licensor may freely assign its rights and obligations under this Agreement; provided, however, for the avoidance of doubt, any assignment by a Licensor of its rights in the Licensed
Trademarks it owns shall be subject to the license granted to Energizer under this Agreement. 
 5. Representations and Warranties;
Certain Disclaimers; Limitation of Liability. 
 (a) Corporate Authority; Enforceability. Energizer, on one hand, and Edgewell
and WS, on the other hand, each hereby represents and warrants to the other that: (i) it has (or they have) the requisite corporate or other power and authority and has taken (or have taken) all corporate or other action necessary in order to
execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby and (ii) this Agreement has been duly executed and delivered by it (or them) and constitutes a valid and binding agreement of it (or them)
enforceable in accordance with the terms hereof. 
 (b) Energizer Acknowledgement. ENERGIZER (ON BEHALF OF ITSELF AND EACH MEMBER OF
THE EHP GROUP) ACKNOWLEDGES AND AGREES THAT: (i) NO MEMBER OF THE EPC GROUP IS MAKING IN THIS AGREEMENT (OR ANY OTHER AGREEMENT CONTEMPLATED BY THIS AGREEMENT OR OTHERWISE) ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, AS TO THE
CONDITION, QUALITY, MERCHANTABILITY OR FITNESS OF, THE FREEDOM FROM ANY SECURITY INTEREST OF, THE VALUE OF, OR OTHERWISE WITH RESPECT TO, ANY LICENSED TRADEMARKS; (ii) ALL LICENSED TRADEMARKS SHALL BE

  
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LICENSED ON AN “AS IS,” “WHERE IS” BASIS; AND (iii) ENERGIZER AND ITS AFFILIATES SHALL BEAR THE ECONOMIC AND LEGAL RISKS THAT ANY LICENSE SHALL PROVE TO BE INSUFFICIENT
TO VEST IN IT THE RIGHTS AND LICENSES PURPORTED TO BE GRANTED HEREUNDER. 
 (c) LIMITATION ON LIABILITY. IN NO EVENT SHALL
EDGEWELL, WP, ENERGIZER, OR ANY OTHER MEMBER OF THE EPC GROUP OR EHP GROUP HAVE ANY LIABILITY TO THE OTHER OR TO ANY OTHER MEMBER OF THE EPC GROUP, THE EHP GROUP, OR TO ANY OTHER EPC INDEMNITEE OR EHP INDEMNITEE, AS APPLICABLE, UNDER THIS AGREEMENT,
INCLUDING WITHOUT LIMITATION ARISING FROM ENERGIZER’S (OR ANY EHP GROUP MEMBERS’) USE OF LICENSED TRADEMARKS UNDER THIS AGREEMENT, FOR ANY SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES, WHETHER OR NOT CAUSED BY OR RESULTING FROM NEGLIGENCE OR
BREACH OF OBLIGATIONS HEREUNDER AND WHETHER OR NOT INFORMED OF THE POSSIBILITY OF THE EXISTENCE OF SUCH DAMAGES; PROVIDED, HOWEVER, THAT THE PROVISIONS OF THIS SECTION 5(C) SHALL NOT LIMIT ENERGIZER’S INDEMNIFICATION
OBLIGATIONS HEREUNDER WITH RESPECT TO ANY LIABILITY ANY EPC INDEMNIFIED PARTY MAY HAVE TO ANY THIRD PARTY FOR ANY SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES. 

6. Indemnification. 
 (a)
By Energizer. Energizer agrees to indemnify, defend and hold harmless the EPC Indemnitees from and against any and all Liabilities arising from or relating to (i) use by Energizer or any of its Subsidiaries or sublicensees of the
Licensed Trademarks in breach of this Agreement or (ii) sale, offer for sale, use, distribution, advertising, marketing, or promotion by Energizer or any of its Subsidiaries of any products or services bearing or under any of the Licensed
Trademarks. Notwithstanding the foregoing, Energizer shall have no obligation to indemnify, defend or hold harmless the EPC Indemnitees from and against any Liabilities arising from or relating to any claim that Energizer’s use of any Licensed
Trademark in a manner permitted under this Agreement infringes, misappropriates, or otherwise violates any third party’s intellectual property rights; provided, however, that in the event of any such claim, Energizer shall use its
commercially reasonable best efforts to cease any such allegedly infringing use immediately upon the written request of the Licensor that owns such Licensed Trademark. 

(b) Indemnification Procedures. The provisions of the Separation and Distribution Agreement shall govern claims for
indemnification under this Agreement; provided that, for purposes of this Section 6(b), in the event of any conflict between the provisions of the Separation and Distribution Agreement and this Section 6, the provisions of
this Agreement shall control. 
 7. Miscellaneous. 

(a) Entire Agreement; Coordination with Ancillary Agreements. This Agreement and the Exhibit hereto, together with the documents
expressly referenced herein 

  
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(including the Separation Agreement), constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes all prior written and oral
and all contemporaneous oral agreements and understandings with respect to the subject matter hereof. In the event of any conflict or inconsistency between the provisions of this Agreement and the provisions of the Separation Agreement or any other
Ancillary Agreement, the provisions of this Agreement shall control over the inconsistent provisions of this Agreement as to matters specifically addressed in this Agreement. For the avoidance of doubt, the TMA shall govern all matters (including
any indemnities and payments among the parties and each other member of their respective Groups and the allocation of any rights and obligations pursuant to agreements entered into with Third Parties) relating to Taxes or otherwise specifically
addressed in the TMA. 
 (b) Binding Effect. This Agreement shall inure to the benefit of and be binding upon the parties and their
respective successors and permitted assigns. 
 (c) Amendment; Waivers. No change or amendment may be made to this Agreement except
by an instrument in writing signed on behalf of both of the parties. Either party may, at any time, waive compliance by the other with any of the agreements, covenants or conditions contained herein. Any such waiver shall be valid only if set forth
in an instrument in writing signed by the party to be bound thereby. No failure or delay on the part of either party in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or acquiescence in, any breach of
any representation, warranty, covenant or agreement contained herein, nor shall any single or partial exercise of any such right preclude other or further exercise thereof or of any other right. 

(d) Notices. All notices shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon
receipt) by delivery in person, by overnight courier service, by facsimile or electronic mail transmission (return receipt requested) or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the
following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 8(d)): 

If to Edgewell, to: 
 Edgewell
Personal Care Brands LLC 
 1350 Timberlake Manor Parkway, Suite 300 

Chesterfield, Missouri 63017 

Attn: General Counsel 
 With a
copy to: Edgewell Personal Care Company 
 6 Research Drive 

Shelton, Connecticut 06484 
 Attn:
General Counsel 
 Facsimile: 203-680-9018 

Email: manish.shanbhag@edgewell.com 

  
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 If to WS, to: 
  

			
	Wilkinson Sword Gmbh		
	  
		
	  
		
	Attn:		
	Facsimile:		
	Email:		

 If to Energizer to: 

Energizer Holdings, Inc. 
 533
Maryville University Drive 
 St. Louis, Missouri 63141 

Attn: Emily K. Boss 
 Facsimile:
314-985-2258 
 Email: Kelly.boss@energizer.com 

Any party may, by notice to the other party, change the address and contact person to which any such notices are to be given. 

(e) Counterparts. This Agreement, including the Exhibit hereto, may be executed in multiple counterparts, each of which when executed
shall be deemed to be an original but all of which together shall constitute one and the same agreement. 
 (f) Signatures and
Delivery. Each of Edgewell, WS, and Energizer acknowledges that it may execute this Agreement by manual, stamp or mechanical signature, and that delivery of an executed counterpart of a signature page to this Agreement (whether executed by
manual, stamp or mechanical signature) by facsimile or by email in portable document format (PDF) shall be effective as delivery of such executed counterpart of this Agreement. Each of Edgewell, WS, and Energizer expressly adopts and confirms a
stamp or mechanical signature (regardless of whether delivered in person, by mail, by courier, by facsimile or by email in portable document format (PDF)) made in its respective name as if it were a manual signature delivered in person, agrees that
it shall not assert that any such signature or delivery is not adequate to bind it to the same extent as if it were signed manually and delivered in person and agrees that, at the reasonable request of the other party at any time, it shall as
promptly as reasonably practicable cause this Agreement to be manually executed (any such execution to be as of the date of the initial date hereof) and delivered in person, by mail or by courier. 

(g) Severability. If any provision of this Agreement or the application thereof to any person or circumstance is determined by a court
of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement, or the application of such term or provision to persons
or circumstances or in jurisdictions other than those as to which it has been determined to be invalid, illegal or unenforceable, and the parties shall use their commercially reasonable efforts to substitute one or more valid, legal and enforceable
terms or provisions into this Agreement which, insofar as practicable, implement the purposes and intent of the parties. Any term or 

  
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provision of this Agreement held invalid or unenforceable only in part, degree or within certain jurisdictions shall remain in full force and effect to the extent not held invalid or
unenforceable to the extent consistent with the intent of the parties as reflected by this Agreement. To the extent permitted by applicable law, each party waives any term or provision of law which renders any term or provision of this
Agreement to be invalid, illegal or unenforceable in any respect. 
 (h) Governing Law. This Agreement (and any claims or disputes
arising out of or related hereto or to the transactions contemplated hereby or to the inducement of any party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise)
shall be governed by and construed and interpreted in accordance with the laws of the State of Missouri irrespective of the choice of laws principles of the State of Missouri, including all matters of validity, construction, effect, enforceability,
performance and remedies. 
 (i) Dispute Resolution. In the event of any controversy, dispute or claim (a “Dispute”)
arising out of or relating to any party’s rights or obligations under this Agreement (whether arising in contract, tort or otherwise) shall be resolved in accordance with the dispute resolution process in the Separation Agreement, which shall
be the sole and exclusive procedures for the resolution of any such Dispute unless otherwise specified herein or in the Separation Agreement. 

(j) Independent Contractors. The parties each acknowledge that they are separate entities, each of which has entered into this
Agreement for independent business reasons. The relationships of the parties hereunder are those of independent contractors and nothing contained herein shall be deemed to create a joint venture, partnership or any other relationship. 

(k) Interpretation. In this Agreement, (i) words in the singular shall be held to include the plural and vice versa and words of
one gender shall be held to include the other genders as the context requires; (ii) the terms “hereof,” “herein,” and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to
this Agreement as a whole (including all of the Exhibits hereto) and not to any particular provision of this Agreement; (iii) the word “including” and words of similar import when used in this Agreement means “including, without
limitation,”; and (iv) all definitions set forth herein will be deemed applicable whether the words defined are used herein in the singular or the plural. 

(l) Further Assurances. Each party hereto shall take, or cause to be taken, any and all reasonable actions, including the
execution, acknowledgment, filing and delivery of any and all documents and instruments that any other party hereto may reasonably request in order to effect the intent and purpose of this Agreement and the transactions contemplated hereby. 

(m) Mutual Drafting. This Agreement shall be deemed to be the joint work product of the parties and any rule of construction that
a document shall be interpreted or construed against a drafter of such document shall not be applicable. 
 [SIGNATURE PAGE FOLLOWS]

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

			
	Edgewell Personal Care Brands LLC
		
	By:		  

	Name:		
	Title:		
	
	Wilkinson Sword Gmbh
		
	By:		  

	Name:		
	Title:		
	
	Energizer Holdings, Inc.
		
	By:		  

	Name:		
	Title:		

  
 10 

 EXHIBIT A 

SCHICK 
 WILKINSON SWORDEX-10.4

 Exhibit 10.4 

Energizer Holdings, Inc. Equity Incentive Plan 

 I. General Provisions 

 

	 	A.	Purpose of Plan 

 The purpose of the Energizer Holdings, Inc. Equity Incentive Plan (the
“Plan”) is to enhance the profitability and value of the Company for the benefit of its shareholders by providing for stock options and other stock awards to attract, retain and motivate officers and other key employees who make important
contributions to the success of the Company, and to provide equity-linked compensation for directors. In addition, the Plan permits the issuance of Awards in a partial or full substitution for certain awards relating to shares of the common stock of
the Parent immediately prior to the spin-off of the Company by the Parent. 
  

	 	B.	Definitions of Terms as Used in the Plan 

 “Affiliate” shall mean any
entity in an unbroken chain of entities beginning with the Company if, at the time of the granting of an Award, each of the entities other than the last entity in the unbroken chain owns stock (or beneficial ownership for non-corporate entities)
possessing 50 percent or more of the total combined voting power of all classes of stock (or beneficial ownership for non-corporate entities) in one of the other entities in such chain. 

“Award” shall mean an Option or any Other Stock Award granted under the terms of the Plan, which shall include such
agreements, including but not limited to, non-competition provisions, as determined in the sole discretion of the Committee. 

“Award Agreement” shall mean the written or electronic document(s) evidencing an Award granted under the Plan. 

“Board” shall mean the Board of Directors of the Company. 

“Change of Control” shall mean either of the following, provided that the following constitutes a “change in the
ownership” of the Company or “change in the ownership of a substantial portion of the Company’s assets” within the meaning of Code Section 409A: 
  

	 	(i)	The acquisition by one person, or more than one person acting as a group, of ownership of stock (including Common Stock) of the Company that, together with stock held by such person or group, constitutes more than 50%
of the total fair market value or total voting power of the stock of the Company. Notwithstanding the above, if any person or more than one person acting as a group, is considered to own more than 50% of the total fair market value or total voting
power of the stock of the Company, the acquisition of additional stock by the same person or persons will not constitute a Change of Control; or 

  

	 	(ii)	A majority of the members of the Company’s Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Company’s
Board of Directors before the date of the appointment or election. 

  
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 Persons will not be considered to be acting as a group solely because they purchase or own stock of the same
corporation at the same time, or as a result of the same public offering. However, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or
similar business transaction with the Company. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended, and the
regulations and other guidance promulgated thereunder. 
 “Committee” shall mean the Nominating and Executive Compensation
Committee of the Board, or any successor committee the Board may designate to administer the Plan, provided such Committee consists of two or more individuals. Each member of the Committee shall be (i) an “outside director” within the
meaning of Section 162(m) of the Code and (ii) a “Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act, or otherwise qualified to administer the Plan as contemplated by that Rule or any successor Rule
under the Exchange Act. 
 “Common Stock” shall mean Energizer Holdings, Inc. $.01 par value Common Stock or common stock
of the Company outstanding upon the reclassification of the Common Stock or any other class or series of common stock, including, without limitation, by means of any stock split, stock dividend, creation of targeted stock, spin-off or other
distributions of stock in respect of stock, or any reverse stock split, or by reason of any recapitalization, merger or consolidation of the Company. 

“Company” shall mean Energizer Holdings, Inc. a Missouri corporation, or any successor to all or substantially all of its
business by merger, consolidation, purchase of assets or otherwise. 
 “Competition” shall mean, directly or indirectly,
owning, managing, operating, controlling, being employed by (whether as an employee, consultant, independent contractor or otherwise, and whether or not for compensation) or rendering services to any person, firm, corporation or other entity, in
whatever form, engaged in any business of the same type as any business in which the Company or its Affiliates is engaged or in which they have proposed to be engaged in and in which the recipient of an Award has been involved to any extent (on
other than a de minimus basis) at any time during the previous one (1) year period, in any locale of any country in which the Company or its Affiliates conducts business. Competition shall not include owning not more than one percent of the
total shares of all classes of stock outstanding of any publicly held entity engaged in such business. 
 “Corporate
Officer” shall mean any President, Chief Executive Officer, Corporate Vice President, Controller, Secretary or Treasurer of the Company, and any other officers designated as corporate officers by the Board. 

“Director” shall mean any member of the Board. 

“Employee” shall mean any person who is employed by the Company or an Affiliate, including Corporate Officers. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

  
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 “Fair Market Value” of the Common Stock shall mean the closing price as reported
on the Composite Tape of the New York Stock Exchange, Inc. on the date that such Fair Market Value is to be determined, or if no shares were traded on the determination date, the immediately following next day on which the Common Stock is traded, or
the fair market value as determined by any other method that may be required in order to comply with or to conform to the requirements of applicable laws or regulations. 

“Incentive Stock Options” shall mean Options that qualify as such under Section 422 of the Code. 

“Non-Qualified Stock Options” shall mean Options that do not qualify as Incentive Stock Options. 

“Option” shall mean the right, granted under the Plan, to purchase a specified number of shares of Common Stock, at a fixed
price for a specified period of time. 
 “Other Stock Award” shall mean any Award granted under Section III of the Plan.

 “Parent” shall mean Edgewell Personal Care Company (formerly known as Energizer Holdings, Inc. prior to the effective
date of the Spin-Off) or any successor to all or substantially all of its business by merger, consolidation, purchase of assets or otherwise. 

“Restricted Equivalent Award” shall mean a right granted under the terms of the Plan to receive shares of Common Stock or
cash equal to either (i) a set number of shares of Common Stock or (ii) a number of shares of Common Stock determined under a formula or other criteria, as of specified vesting and/or payment dates. By way of example, Restricted Equivalent
Awards may include “market stock units”, which involve a grant of Restricted Stock Equivalents, the number of which are paid as of the vesting and/or payment date based on (a) the passage of a certain prescribed period of time; or
(b) the performance of the Common Stock Fair Market Value over the performance period. 
 “Restricted Stock Award”
shall mean an Award of shares of Common Stock on which are imposed restrictions on transferability or other shareholder rights, including, but not limited to, restrictions which subject such Award to a “substantial risk of forfeiture” as
defined in Section 83 of the Code. 
 “Spin-Off” shall mean the distribution to the holders of the Parent common stock
of the outstanding shares of the Company’s common stock owned by the Parent. 
 “Stock Appreciation Right” shall mean
a right granted under the terms of the Plan to receive an amount equal to the excess of the Fair Market Value of one share of Common Stock as of the date of exercise of the Stock Appreciation Right over the price per share of Common Stock specified
in the Award Agreement of which it is a part. 
 “Termination for Cause” shall mean an Employee’s termination of
employment with the Company or an Affiliate because of the Employee’s willful engaging in gross misconduct that materially injures the Company (as determined in good faith by the Committee), or the Employee’s conviction of a felony or a
plea of nolo contendere to such a crime, provided, however, that a Termination for Cause shall not include termination attributable to (i) poor work performance, bad 

  
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judgment or negligence on the part of the Employee, (ii) an act or omission believed by the Employee in good faith to have been in or not opposed to the best interests of the Company and
reasonably believed by the Employee to be lawful, or (iii) the good faith conduct of the Employee in connection with a change of control of the Company (including opposition to or support of such change of control). 

 

	 	C.	Scope of Plan and Eligibility 

 Any Employee selected by the Committee, any member of the
Board, and consultants and advisors to the Company or an Affiliate selected by the Committee shall be eligible for any Award contemplated under the Plan. 
  

	 	D.	Authorization and Reservation 

 1. The Company shall establish a reserve of authorized
shares of Common Stock in the amount of 10,000,000 shares. This reserve shall represent the total number of shares of Common Stock that may be presently issued pursuant to Awards, subject to the last sentence of this Section I.D.1. and Section
I.D.2. below. The reserves may consist of authorized but unissued shares of Common Stock or of reacquired shares, or both. Awards other than Options and Stock Appreciation Rights will be counted against the reserve in a 2-to-1 ratio. 

2. Upon the forfeiture or expiration of an Award, all shares of Common Stock not issued thereunder shall become available for the granting of
additional Awards. Awards under the Plan which are payable in cash will not be counted against the reserve unless actual payment is made in shares of Common Stock instead of cash. 

3. Shares of Common Stock tendered as full or partial payment upon exercise of Options or Stock Appreciation Rights granted under the Plan,
shares of Common Stock reserved for issuance upon grants of Stock Appreciation Rights (to the extent the number of reserved shares exceeds the number of shares actually issued upon exercise of the Stock Appreciation Rights), and shares of Common
Stock withheld by, or otherwise remitted to, the Company to satisfy an Employee’s tax withholding obligations with respect to Awards under the Plan shall not become available for the granting of additional Awards under the Plan. 

4. The following will not be applied to the share limitations of subsection 1 above: (i) dividends or dividend equivalents paid in cash
in connection with outstanding Awards, (ii) any shares of Common Stock subject to an Award under the Plan which Award is forfeited, cancelled, terminated, expires or lapses for any reason, and (iii) shares of Common Stock and any Awards
that are granted through the settlement, assumption, or substitution of outstanding awards previously granted, or through obligations to grant future awards, as a result of a merger, consolidation, spin-off or acquisition of the employing company
with or by the Company. If an Award is to be settled in cash, the number of shares of Common Stock on which the Award is based shall not count toward the share limitations of subsection 1. 

5. No fractional shares of Common Stock may be issued under this Plan. Fractional shares of Common Stock will be rounded down to the nearest
whole share of Common Stock. 
 6. No more than 10,000,000 shares of Common Stock may be granted as Incentive Stock Options under the Plan.

  
 5 

	 	E.	Grant of Awards and Administration of the Plan 

 1. The Committee (or, in the
Board’s sole discretion or in the absence of the Committee, the Board) shall determine those Employees eligible to receive Awards and the amount, type and terms of each Award, subject to the provisions of the Plan. The Board shall determine the
amount, type and terms of each Award to a Director in his or her capacity as a Director, subject to the provisions of the Plan. In making any determinations under the Plan, the Committee or the Board, as the case may be, shall be entitled to rely on
reports, opinions or statements of officers or employees of the Company, as well as those of counsel, public accountants and other professional or expert persons. Any such report, opinions or statements may take into account Award grant practices,
including the rate of grant of Awards and any performance criteria related to such awards, at publicly traded or privately held corporations that are similar to or are industry peers with the Company. All determinations, interpretations and other
decisions under or with respect to the Plan or any Award by the Committee or the Board, as the case may be, shall be final, conclusive and binding upon all parties, including without limitation, the Company, any Employee or Director, and any other
person with rights to any Award under the Plan, and no member of the Board or the Committee shall be subject to individual liability with respect to the Plan. 

2. The Committee (or, in the Board’s sole discretion or in the absence of the Committee, the Board) shall administer the Plan and, in
connection therewith, it shall have full power and discretionary authority to construe and interpret the Plan, establish rules and regulations and perform all other acts it believes reasonable and proper, including the power to delegate
responsibility to others to assist it in administering the Plan, to the extent permitted by applicable laws, and the power to adopt sub-plans or establish special rules for grants to individuals outside the U.S., as further described in Sections
VI.Q, R and S. To the extent, however, that such construction and interpretation or establishment of rules and regulations relates to or affects any Awards granted to a Director in his or her capacity as a Director, the Board must ratify such
construction, interpretation or establishment. 
 3. The Committee, or if no Committee has been appointed, the Board, may delegate
administration of the Plan to a committee or committees of one or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. The Committee shall have the power to
delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board or the Committee shall thereafter be to the committee or subcommittee), subject, however, to such
resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish, suspend or supersede the Committee at any time and revest in the Board the administration of the Plan. The
members of the Committee shall be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee, add additional members to, remove members (with or without cause) from, appoint
new members in substitution therefor, and fill vacancies, however, caused, in the Committee. Subject to the limitations prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct of its
business as it may determine to be advisable. Any authority granted to the Committee may also be exercised by the Board or another committee of the Board, except to the extent that the grant or exercise of such authority would

  
 6 

 
cause any Award intended to qualify for favorable treatment under Section 162(m) of the Code to cease to qualify for the favorable treatment under Section 162(m) of the Code. To the
extent that any permitted action taken by the Board conflicts with action taken by the Committee, the Board action shall control. Without limiting the generality of the foregoing, to the extent the Board has delegated any authority under this Plan
to another committee of the Board, such authority shall not be exercised by the Committee unless expressly permitted by the Board in connection with such delegation. 

4. During the term of the Plan, the aggregate number of shares of Common Stock that may be the subject of performance-based Awards (as defined
in Section 162(m) of the Code) that may be granted to an Employee or Director during any one fiscal year may not exceed 1,000,000. The maximum number of shares with regard to which Options and Stock Appreciation Rights may be granted to any
individual during any one fiscal year is 1,000,000. These amounts are subject to adjustment as provided in Section VI. F. below. The maximum annual cash award that may be the subject of performance-based Awards that may be granted to an Employee or
Director during any one fiscal year under this Plan (but not including any other plan) may not exceed $20,000,000. Awards granted in a fiscal year but cancelled during that same year will continue to be applied against the annual limit for that
year, despite cancellation. 
 5. Awards granted under the Plan shall be evidenced in the manner prescribed by the Committee from time to
time pursuant to an Award Agreement. The Committee may require that a recipient execute and deliver, through written or electronic means, his or her acceptance of the Award. 

6. The Committee may, in its discretion, include provisions in an Award Agreement to address treatment of an Award in the event of a Change of
Control, which may include, by way of example, 100% vesting, lapse of restrictions or deemed achievement of performance goals. In addition, in the event of a Change in Control, an Award may be treated, to the extent determined by the Committee to be
both appropriate and permitted under Section 409A of the Code, in accordance with one of the following methods as determined by the Committee in its sole discretion: (i) upon at least ten days’ advance notice to the affected persons,
cancel any outstanding Awards and pay to the holders thereof, in cash or stock, or any combination thereof, the value of such Awards based upon the price per share received or to be received by other shareholders of the Company in the event; or
(ii) provide for the assumption of or the issuance of substitute awards that will substantially preserve the otherwise applicable terms of any affected Awards previously granted under the Plan, as determined by the Committee in its sole
discretion. In the case of any Option or Stock Appreciation Right with an exercise price that equals or exceeds the price paid for a share in connection with the Change in Control, the Committee may cancel the Option or Stock Appreciation Right
without the payment of consideration therefor. 
 II. Stock Options 

 

	 	A.	Description 

 The Committee may grant Incentive Stock Options and/or Non-Qualified Stock
Options to Employees eligible to receive Awards under the Plan. The Board may grant Non-Qualified Stock Options to Directors under the Plan. 

  
 7 

	 	B.	Terms and Conditions 

 1. Each Option shall have such terms and conditions as the
Committee, or in the case of Awards granted to Directors, the Board, may determine, subject to the provisions of the Plan. 
 2. The option
price of shares of Common Stock subject to any Option shall not be less than the Fair Market Value of the Common Stock on the date that the Option is granted. 

3. The Committee, or in the case of Awards granted to Directors, the Board, shall determine the vesting schedules and the terms, conditions
and limitations governing exercisability of Options granted under the Plan. Unless accelerated in accordance with its terms, an Option may not be exercised until a period of at least one year has elapsed from the date of grant, and the term of any
Option granted hereunder shall not exceed ten years. 
 4. The purchase price of any shares of Common Stock pursuant to exercise of any
Option must be paid in full upon such exercise. The payment shall be made in cash, in United States dollars, by tendering shares of Common Stock owned by the Employee or Director (or the person exercising the Option), through Net Exercise or Swap
Exercise, each as described below, or any other means approved by the Committee prior to the date such Option is exercised. 
 Subject to
any additional tax withholding provided for in Section VI.H., any individual electing a Net Exercise of an Option shall receive upon such net exercise a number of shares of Common Stock equal to the aggregate number shares of Common Stock being
purchased upon exercise less the number of shares of Common Stock having a Fair Market Value equal to the aggregate purchase price of the shares of Common Stock as to which the Non-Qualified Stock Option is being exercised. 

Subject to any additional tax withholding provided for in Section VI.H., any individual electing a Swap Exercise shall pay the purchase price
of the Option by tendering shares of Common Stock owned by such individual prior to exercising the Option with a Fair Market Value equal to the exercise of the Option. 

5. The terms and conditions of any Incentive Stock Options granted hereunder shall be subject to and shall be designed to comply with, the
provisions of Section 422 of the Code, and any other administrative procedures adopted by the Committee from time to time. Incentive Stock Options may not be granted to any person who is not an Employee at the time of grant. To the extent that
the aggregate Fair Market Value (determined at the time an Incentive Stock Option is granted) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by an Optionee during any calendar year under all incentive
stock option plans of the Company exceeds $100,000, the Options in excess of such limit shall be treated as Non-Qualified Stock Options. If, at the time an Incentive Stock Option is granted, the Employee recipient owns (after application of the
rules contained in Section 424(d) of the Code, or its successor provision) shares of Common Stock possessing more than ten percent of the total combined voting power of all classes of stock of the Company or its subsidiaries, (a) the
option price for such Incentive Stock Option shall be at least 110% of the Fair Market Value of the shares of Common Stock subject to such Incentive Stock Option on the date of grant and (b) such Option shall not be exercisable after the date
five years from the date such Incentive Stock Option is granted. 

  
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 III. Other Stock Award 

In addition to Options, the Committee or, in the case of Awards granted to Directors, the Board, may grant Other Stock Awards payable in Common Stock or cash,
upon such terms and conditions as the Committee or Board may determine, subject to the provisions of the Plan. Other Stock Awards may include, but are not limited to, the following types of Awards: 

 

	 	A.	Restricted Stock Awards and Restricted Stock Equivalents 

 1. The Committee or, in the
case of Awards granted to a Director in his or her capacity as Director, the Board, may grant Restricted Stock Awards, each of which consists of a grant of shares of Common Stock, or Restricted Stock Equivalents, each of which is the right to
receive shares of Common Stock upon vesting at the end of a specified restricted period. The terms and conditions applicable to such an Award shall be set forth in an Award Agreement. 

2. The shares of Common Stock granted will be restricted and may not be sold, pledged, transferred or otherwise disposed of until the lapse or
release of restrictions in accordance with the terms of the Award Agreement and the Plan. Prior to the lapse or release of restrictions, all shares of Common Stock which are the subject of a Restricted Stock Award are subject to forfeiture in
accordance with Section IV of the Plan. During the restricted period, Restricted Stock may not be sold, assigned, transferred or otherwise disposed of, or mortgaged, pledged or otherwise encumbered. In order to enforce the limitations imposed upon
the Restricted Stock Awards, the Committee may (A) cause a legend or legends to be placed on any certificates evidencing such Restricted Stock, and/or (B) cause “stop transfer” instructions to be issued, as it deems necessary or
appropriate. 
 3. Restricted Stock Equivalents that become payable in accordance with their terms and conditions shall be settled in cash,
shares of Common Stock, or a combination of cash and shares, as determined by the Committee and set forth in an Award Agreement. Any person who holds Restricted Stock Equivalents shall have no ownership interest in the shares of Common Stock to
which the Restricted Stock Equivalents relate unless and until payment with respect to such Restricted Stock Equivalents is actually made in shares of Common Stock. The payment date shall be as soon as practicable after the earliest of (A) any
vesting date that can be pre-determined at grant under the terms of an Award Agreement, and (B) the occurrence date of an applicable vesting event specified in the applicable Award Agreement. Restricted Stock Equivalents may not be sold,
assigned or transferred during the restricted period. 
 4. Unless otherwise determined by the Committee as set forth in an Award Agreement,
on the date all restrictions lapse or are released so that a Restricted Stock Award or Restricted Stock Equivalents vest and/or become payable, the Company shall pay the recipient or his or her beneficiary an amount equal to the amount of cash
dividends, if any, that would have been paid to him or her between the date of grant of such Award and such vesting and/or payment date had vested shares of Common Stock been issued to the recipient in lieu of the Restricted Stock Award or
Restricted Stock Equivalents that so vested and/or became payable. Such amounts shall be paid in a single lump sum as soon as practicable following such vesting and/or payment date, but in no event later than the 15th day of the third month
following the end of the calendar year in which such date occurs. No interest shall be included in the calculation of such additional cash payment. In no event will dividends or dividend equivalents be paid with respect to any Award which does not
vest and/or meet its performance goals. Therefore, dividends and dividend equivalents shall be paid only on vested Restricted Stock Awards or Restricted Stock Equivalents. 

  
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	 	B.	Stock Related Deferred Compensation 

 The Committee may, in its discretion, permit the
deferral of payment of an Employee’s cash bonus, other cash compensation or an Award to a Participant under this Plan in the form of either Common Stock or Common Stock equivalents (with each such equivalent corresponding to a share of Common
Stock), under such terms and conditions as the Committee may prescribe in the Award Agreement relating thereto or a separate election form made available to such Participant, including the terms of any deferred compensation plan under which such
Common Stock equivalents may be granted. In addition, the Committee may, in any fiscal year, provide for an additional matching deferral to be credited to an Employee’s account under such deferred compensation plans. The Committee may also
permit hypothetical account balances of other cash or mutual fund equivalents maintained pursuant to such deferred compensation plans to be converted, at the discretion of the participant, into the form of Common Stock equivalents, or to permit
Common Stock equivalents to be converted into account balances of such other cash or mutual fund equivalents, upon the terms set forth in such plans as well as such other terms and conditions as the Committee may, in its discretion, determine. The
Committee may, in its discretion, determine whether any deferral in the form of Common Stock equivalents, including deferrals under the terms of any deferred compensation plans of the Company, shall be paid on distribution in the form of cash or in
shares of Common Stock. To the extent Code Section 409A is applicable, all actions pursuant to this Section III.B. must satisfy the requirements of Code Section 409A and the regulations and guidance thereunder, including but not limited to
the following: 
 1. A Participant’s election to defer must be filed at such time as designated by the Committee, but in no event later
than the December 31 preceding the first day of the calendar year in which the services are performed which relate to the compensation or Award being deferred. An election may not be revoked or modified after such December 31. However,
notwithstanding the previous two sentences, if the compensation or Award is subject to a forfeiture condition requiring the Participant’s continued services for a period of at least 12 months from the date the Participant obtains the legally
binding right to the compensation or Award, the Committee may permit a Participant to file an election on or before the 30th day after the Participant obtains the legally binding right to the compensation or Award, provided that the election is
filed at least 12 months in advance of the earliest date at which the forfeiture condition could lapse. 
 2. A Participant’s election
to defer must include the time and form of payment, within the parameters made available by the Committee, and such timing of payment must comply with the permitted payment events under Code Section 409A. 

3. If payment is triggered due to the Participant’s termination of employment or separation from service, such termination or separation
must be a “separation from service” within the meaning of Code Section 409A, and, for purposes of any such provision of this Plan or an election, references to a “termination,” “termination of employment” or like
terms shall mean such a separation from service. The determination of whether and when a separation from service has occurred for purposes of this Agreement shall be made in accordance with the presumptions set forth in Section 1.409A-1(h) of
the Treasury Regulations, unless the Committee has established other rules in accordance with the requirements of Code Section 409A. If payment is made due to a 

  
 10 

 
Participant’s separation from service, and if at the time of the Participant’s separation from service, he or she is a “specified employee,” within the meaning of Code
Section 409A, then to the extent any payment or benefit that the Participant becomes entitled to under this provision on account of such separation from service would be considered nonqualified deferred compensation under Code
Section 409A, such payment or benefit shall be paid or provided at the date which is the earlier of (i) six (6) months and one day after such separation from service, and (ii) the date of the Participant’s death (the
“Delay Period”). All payments and benefits delayed pursuant to this provision shall be paid in a lump sum upon expiration of the Delay Period. 
  

	 	C.	Stock Appreciation Rights 

 The Committee, or in the case of Awards granted to Directors,
the Board, may, in its discretion, grant Stock Appreciation Rights to Employees or Directors. Subject to the provisions of the Plan, the Committee or Board in its sole discretion shall determine the terms and conditions of the Stock Appreciation
Rights. Such terms and conditions shall be set forth in a written Award Agreement. Each Stock Appreciation Right shall entitle the holder thereof to elect, prior to its cancellation or termination, to exercise such unit or option and receive either
cash or shares of Common Stock, or both, as the Committee or Board may determine, in an aggregate amount equal in value to the excess of the Fair Market Value of the Common Stock on the date of such election over the Fair Market Value on the date of
grant of the Stock Appreciation Right; except that if an option is amended to include Stock Appreciation Rights, the designated Fair Market Value in the applicable Award Agreement may be the Fair Market Value on the date that the Option was granted.
The term of any Stock Appreciation Right granted hereunder shall not exceed ten years. The Committee or Board may provide that a Stock Appreciation Right may only be exercised on one or more specified dates. Stock Appreciation Rights may be granted
on a “free-standing” basis or in conjunction with all or a portion of the shares of Common Stock covered by an Option. In addition to any other terms and conditions set forth in the Award Agreement, Stock Appreciation Rights shall be
subject to the following terms: (i) Stock Appreciation Rights, unless accelerated in accordance with their terms, may not be exercised within the first year after the date of grant, (ii) the Committee or Board, as the case may be, may, in
its sole discretion, disapprove an election to surrender any Stock Appreciation Right for cash in full or partial settlement thereof, provided that such disapproval shall not affect the recipient’s right to surrender the Stock Appreciation
Right at a later date for shares of Common Stock or cash, and (iii) no Stock Appreciation Right may be exercised unless the holder thereof is at the time of exercise an Employee or Director and has been continuously since the date the Stock
Appreciation Right was granted, except that the Committee or Board may permit the exercise of any Stock Appreciation Right for any period following the recipient’s termination of employment or retirement or resignation from the Board, not in
excess of the original term of the Award, on such terms and conditions as it shall deem appropriate and specify in the related Award Agreement. 
  

	 	D.	Performance-Based Other Stock Awards 

 The payment under any Other Stock Award that the
Committee or Board determines shall be a performance-based Award (as defined in Section 162(m) of the Code) (hereinafter “Target Award”) shall be contingent upon the attainment of one or more pre-established performance goals
established by the Committee in writing within ninety (90) days after the commencement of the Target Award performance period (or in the case of a newly hired Employee, before 25% of such Employee’s service for such Target Award
performance period has 

  
 11 

 
lapsed). Such performance goals will be based upon one or more of the following performance-based criteria: (a) earnings per share, net earnings per share or growth in such measures;
(b) revenue, net revenue, income, net income or growth in revenue or income (all either before or after taxes); (c) return measures (including, but not limited to, return on assets, capital, investment, equity, revenue or sales);
(d) cash flow return on investments which equals net cash flows divided by owners’ equity; (e) controllable earnings (a division’s operating profit, excluding the amortization of goodwill and intangible assets, less a charge for
the interest cost for the average working capital investment by the division); (f) operating earnings or net operating earnings; (g) costs or cost control; (h) share price (including, but not limited to, growth measures);
(i) total shareholder return (stock price appreciation plus dividends); (j) economic value added; (k) EBITDA; (l) operating margin or growth in operating margin; (m) market share or growth in market share; (n) cash
flow, cash flow from operations or growth in such measures; (o) sales revenue or volume or growth in such measures; (p) gross margin or growth in gross margin; (q) productivity; (r) brand contribution; (s) product quality;
(t) corporate value measures; (u) goals related to acquisitions, divestitures or customer satisfaction; (v) diversity; (w) index comparisons; (x) debt-to-equity or debt-to-stockholders’ equity ratio; (y) working
capital, (z) risk mitigation; (aa) sustainability and environmental impact; or (bb) employee retention. Performance may be measured on an individual, corporate group, business unit, subsidiary, division, department, region, function or
consolidated basis and may be measured absolutely or relatively to the Company’s peers. In establishing the performance goals, the Committee may provide that the performance goals will be adjusted to account for the effects of acquisitions,
divestitures, extraordinary dividends, stock split-ups, stock dividends or distributions, issuances of any targeted stock, recapitalizations, warrants or rights issuances or combinations, exchanges or reclassifications with respect to any
outstanding class or series of Stock, or a corporate transaction, such as any merger of the Company with another corporation, any consolidation of the Company and another corporation into another corporation, any separation of the Company or its
business units (including a spinoff or other distribution of stock or property by the Company), any reorganization of the Company (whether or not such reorganization comes within the definition of such term in Code Section 368) or any partial
or complete liquidation by the Company, or sale of all or substantially all of the assets of the Company, or other extraordinary items. Unless otherwise specifically provided by the Committee when authorizing an Award, all performance-based
criteria, including any adjustments described in the preceding sentence, shall be determined by applying U.S. generally accepted accounting principles, as reflected in the Company’s audited financial statements. 

The Committee, in its discretion, may cancel or decrease an earned Target Award, but, except as otherwise permitted by Treasury Regulation
Section 1.162-27(e)(2)(iii)(C), may not, under any circumstances, increase such award. Before payments are made under a Target Award, the Committee shall certify in writing that the performance goals justifying the payment under Target Award
have been met. In no event will dividends or dividend equivalents be paid with respect to any Award which does not vest and/or meet its performance goals. Therefore, dividends and dividend equivalents shall be paid only on the vested portion of
Target Awards for which the applicable performance goals are achieved. 

  
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 IV. Forfeiture of Awards 

A. Unless the Committee, or in the case of a Director, the Board, shall have determined otherwise in an Award Agreement, the recipient of any
Award pursuant to the Plan shall forfeit the Award, to the extent not then payable or exercisable, upon the occurrence of any of the following events, subject to compliance with any applicable local laws: 

1. The recipient is Terminated for Cause. 

2. The recipient voluntarily terminates his or her employment, except as otherwise provided in the Award Agreement. 

3. The recipient engages in Competition with the Company or any Affiliate. 

4. The recipient engages in any activity or conduct contrary to the best interests of the Company or any Affiliate, including, but not limited
to, conduct that breaches the recipient’s duty of loyalty to the Company or an Affiliate or that is materially injurious to the Company or an Affiliate, monetarily or otherwise. Such activity or conduct may include, without limitation:
(i) disclosing or misusing any confidential information pertaining to the Company or an Affiliate; (ii) any attempt, directly or indirectly, to induce any Employee of the Company or any Affiliate to be employed or perform services
elsewhere, or (iii) any direct or indirect attempt to solicit, or assist another employer in soliciting, the trade of any customer or supplier or prospective customer of the Company or any Affiliate. 

B. The Committee or the Board, as the case may be, may include in any Award Agreement any additional or different conditions of forfeiture it
may deem appropriate, and may waive any condition of forfeiture stated above or in the Award Agreement. 
 C. In the event of forfeiture,
the recipient shall lose all rights in and to portions of the Award which are not vested or which are not exercisable. Except in the case of Restricted Stock Awards as to which restrictions have not lapsed, this provision, however, shall not be
invoked to require any recipient to transfer to the Company any Common Stock already received under an Award. 
 D. Such determinations as
may be necessary for application of this Section, including any grant of authority to others to make determinations under this Section, shall be at the sole discretion of the Committee, or in the case of Awards granted to Directors, of the Board,
and such determinations shall be conclusive and binding. 
 V. Beneficiary Designation; Death of Awardee 

A. If permitted by the Committee, an Award recipient may file with the Committee a written designation of a beneficiary or beneficiaries
(subject to such limitations as to the classes and number of beneficiaries and contingent beneficiaries as the Committee may from time to time prescribe) to exercise, in the event of the death of the recipient, an Option or Stock Appreciation Right,
or to receive, in such event, any Other Stock Awards. The Committee reserves the right to review and approve beneficiary designations and/or require that a particular form be used to be effective with respect to an Award. A recipient may from time
to time revoke or change any such designation of beneficiary and any designation of beneficiary under the Plan shall be controlling over any other disposition, testamentary or otherwise. However, if the Committee shall be in doubt as to the right of
any such beneficiary to exercise any Option or Stock Appreciation Right, or to receive any Other Stock Award, the Committee may determine to recognize only an exercise by, or right to receive of, the legal representative of the recipient, in which
case the Company, the Committee and the members thereof shall not be under any further liability to anyone. 

  
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 B. Upon the death of an Award recipient, the following rules shall apply: 

1. An Option, to the extent exercisable on the date of the recipient’s death, may be exercised at any time within three years after the
recipient’s death, but not after the expiration of the term of the Option. The Option may be exercised by the recipient’s designated beneficiary (to the extent there is a beneficiary designation on file which the Committee has allowed) or
personal representative or the person or persons entitled thereto by will or in accordance with the laws of descent and distribution, or by the transferee of the Option in accordance with the provisions of Section VI.A. 

2. In the case of any Other Stock Award, any shares of Common Stock or cash payable shall be determined as of the date of the recipient’s
death, in accordance with the terms of the Award Agreement, and the Company shall issue such shares of Common Stock or pay such cash to the recipient’s designated beneficiary or personal representative or the person or persons entitled thereto
by will or in accordance with the laws of descent and distribution. 
 VI. Other Governing Provisions 

 

	 	A.	Transferability 

 Except as otherwise provided herein, no Award shall be transferable
other than by beneficiary designation, will or the laws of descent and distribution, and any right granted under an Award may be exercised during the lifetime of the holder thereof only by the Award recipient or by his/her guardian or legal
representative; provided, however, that an Award recipient may be permitted, in the sole discretion of the Committee, to transfer to a member of such recipient’s immediate family, family trust or family partnership as defined by the Committee
or its delegee, an Option granted pursuant to Section II. hereof, other than an Incentive Stock Option, subject to such terms and conditions as the Committee, in their sole discretion, shall determine. 

 

	 	B.	Rights as a Shareholder 

 A recipient of an Award shall have no rights as a shareholder,
with respect to any Awards or shares of Common Stock which may be issued in connection with an Award, until the issuance of a Common Stock certificate for such shares, and no adjustment other than as stated herein shall be made for dividends or
other rights for which the record date is prior to the issuance of such Common Stock certificate. In addition, with respect to Restricted Stock Awards, recipients shall have only such rights as a shareholder as may be set forth in the terms of the
Award Agreement. Notwithstanding the previous language in this Section VI.B, in no event will dividends or dividend equivalents be paid with respect to any Award which does not vest and/or meet its performance goals. Therefore, dividends and
dividend equivalents shall be paid only on the vested portion of Awards on or after the date such Awards, or portion thereof, vest. 
  

	 	C.	General Conditions of Awards 

 No Employee, Director or other person shall have any
rights with respect to the Plan, the shares of Common Stock reserved or in any Award, contingent or otherwise, until an Award Agreement shall have been delivered to the recipient and all of the terms, conditions and provisions of the Plan applicable
to such recipient shall have been met. 

  
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	 	D.	Reservation of Rights of Company 

 Neither the establishment of the Plan nor the granting
of an Award shall confer upon any Employee any right to continue in the employ of the Company or any Affiliate or interfere in any way with the right of the Company or any Affiliate to terminate such employment at any time, provided in compliance
with applicable local laws and individual employment contracts (if any). No Award shall be deemed to be salary or compensation for the purpose of computing benefits under any employee benefit, pension or retirement plans of the Company or any
Affiliate, unless the Committee shall determine otherwise, applicable local law provides otherwise or the terms of such plan specifically include such compensation. 
  

	 	E.	Acceleration 

 The Committee, or, with respect to any Awards granted to Directors, the
Board, may, in its sole discretion, accelerate the vesting or date of exercise of any Awards except to the extent such acceleration will result in adverse tax consequences under Code Section 409A. 

 

	 	F.	Effect of Certain Changes 

 In the event of any extraordinary dividend, stock split-up,
stock dividend, spin-off, issuance of targeted stock, recapitalization, warrant or rights issuance, or combination, exchange or reclassification with respect to the Common Stock or any other class or series of common stock of the Company, or
consolidation, merger or sale of all, or substantially all, of the assets of the Company, the Committee shall cause equitable adjustments to be made to the shares reserved under Section I.D. of the Plan and the limits on Awards set forth in Section
I.E.3. of the Plan, and the Committee or Board shall cause such adjustments to be made to the terms of outstanding Awards to reflect such event and preserve the value of such Awards. Any such adjustments to a Non-Qualified Stock Option or a Stock
Appreciation Right shall comply with the requirements of the regulations under Section 409A of the Code. If any such adjustment would result in a fractional share of Common Stock being issued or awarded under this Plan, such fractional share
shall be disregarded. 
  

	 	G.	Repricing 

 Without the prior approval of the Company’s shareholders, the Company
will not affect a “repricing” (as defined below) of any Options or Other Stock Awards granted under the terms of the Plan. For purposes of the immediately preceding sentence, a “repricing” shall be deemed to mean any of the
following actions or any other action having the same effect: (a) the lowering of the purchase price of an Option or Other Stock Award after it is granted; (b) the cancelling of an Option or Other Stock Award in exchange for another Option
or Other Stock Award at a time when the purchase price of the cancelled Option or Other Stock Award exceeds the Fair Market Value of the underlying Stock (unless the cancellation and exchange occurs in connection with a merger, acquisition, spin-off
or other similar corporate transaction); (c) the purchase of an Option or Other Stock Award for cash or other consideration at a time when the purchase price of the purchased Option or Other Stock Award exceeds the Fair Market Value of the
underlying Stock (unless the purchase occurs in connection with a merger, acquisition, spin-off or other similar corporate action); or (d) an action that is treated as a repricing under generally accepted accounting principles. 

  
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	 	H.	Withholding of Taxes 

 The Company and its Affiliates shall satisfy any federal, state,
foreign or local income tax, social insurance contributions, payment on account or other withholding obligations (“Tax Withholdings”) resulting from recipients’ participation in the Plan by any of the following means as
determined by the Committee (or Board in the case of Awards granted to Directors), in its discretion: (1) by reducing the number of shares of Common Stock otherwise payable under such Awards to the extent the Awards are settled in shares;
(2) by withholding from recipient’s salary, compensation or other payments made to him or her; (3) by requiring recipient to make a cash payment to the Company or one of its Affiliates in advance of receiving shares or cash pursuant
to the Award; (4) withholding from the cash settlement to the extent the Award is settled in cash; (5) selling shares of Common Stock on the market either through a cashless exercise transaction or other sale on the market; or (6) any
other means set forth in the Award Agreement. 
 In the event that the number of shares of Common Stock otherwise payable are reduced in
satisfaction of tax obligations, such number of shares shall be calculated by reference to the Fair Market Value of the Common Stock on the date that such taxes are determined. 

With respect to Corporate Officers, Directors or other recipients subject to Section 16(b) of the Exchange Act, the Committee, or, with
respect to Awards granted to Directors, the Board, may impose such other conditions on the recipient’s election as it deems necessary or appropriate in order to exempt such withholding from the penalties set forth in said Section. 

 

	 	I.	No Warranty of Tax Effect 

 No opinion is expressed nor warranties made as to the tax
effects under federal, foreign, state or local laws or regulations of any Award granted under the Plan. Regardless of whether Awards are intended to qualify for favorable tax treatment, the Company does not warrant or represent that such treatment
will be available. 
  

	 	J.	Amendment of Plan 

 Except as otherwise provided in this Section VI.J., the Board may,
from time to time, amend, suspend or terminate the Plan in whole or in part, and if terminated, may reinstate any or all of the provisions of the Plan, except that (i) no amendment, suspension or termination may apply to the terms of any
outstanding Award (contingent or otherwise) granted prior to the effective date of such amendment, suspension or termination, in a manner which would reasonably be considered to be adverse to the recipient, without the recipient’s consent;
(ii) except as provided in Section VI.F., no amendment may be made to increase the number of shares of Common Stock reserved under Section I.D. of the Plan; and (iii) except as provided in Section VI.F., no amendment may be made to
increase the limitations set forth in Section 1.E.3. of the Plan. 
 To the extent a portion of the Plan is subject to Code
Section 409A, the Board may terminate the Plan, and distribute all vested accrued benefits, without consent from affected Award recipients, subject to the restrictions set forth in Treasury Regulation §1.409A-3(j)(4). A termination of any
portion of the Plan that is subject to Code Section 409A must comply with the provisions of Code Section 409A and the regulations and guidance promulgated thereunder, including, but not limited to, restrictions on the timing of final
distributions and the adoption of future deferred compensation arrangements. 

  
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	 	K.	Construction of Plan 

 The place of administration of the Plan shall be in the State of
Missouri and the validity, construction, interpretation, administration and effect of the Plan and of its rules and regulations, and rights relating to the Plan, shall be determined solely in accordance with the laws of the State of Missouri,
without giving regard to the conflict of laws provisions thereof. 
  

	 	L.	Choice of Law/Venue 

 The validity, construction and effect of the Plan and any actions
taken or relating to the Plan shall be determined in accordance with the laws of the State of Missouri without giving effect to its choice of law provisions. Any legal action against the Plan, the Company, an Affiliate, or the Committee may only be
brought in the Circuit Court in St. Louis County and/or the United States District Court in St. Louis, Missouri. 
  

	 	M.	Unfunded Nature of Plan 

 The Plan, insofar as it provides for cash payments, shall be
unfunded, and the Company shall not be required to segregate any assets which may at any time be awarded under the Plan. Any liability of the Company to any person with respect to any Award under the Plan shall be based solely upon any contractual
obligations which may be created by the terms of any Award Agreement entered into pursuant to the Plan. No such obligation of the Company shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Company. 

 

	 	N.	Successors 

 All obligations of the Company under the Plan, with respect to any Awards
granted hereunder, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation or otherwise, of all or substantially all of the business and/or
assets of the Company. 
  

	 	O.	Compliance with Code Section 409A 

 To the extent applicable, this Plan and all Awards
granted hereunder shall be construed in a manner consistent with the requirements of Code Section 409A. 
  

	 	P.	Clawback and Non-Competition 

 Notwithstanding any other provisions of this Plan, any
Award will be subject to such deductions and clawback as may be required to be made pursuant to any law, government regulation or stock exchange listing requirement, or any policy adopted by the Company. In addition and notwithstanding any other
provisions of this Plan, any Award shall be subject to such non-competition provisions under the terms of the Award Agreement or any other agreement or policy adopted by the Company, including, without limitation, any such terms providing for
immediate termination and forfeiture of an Award if and when the recipient becomes an employee, agent or principal of an entity engaging in Competition with the Company. 

  
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	 	Q.	Sub-Plans 

 The Committee may from time to time establish sub-plans under the Plan for
purposes of satisfying blue sky, securities, tax or other laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms and conditions as the Committee determines are
necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan was designed. 

 

	 	R.	Non-Uniform Treatment 

 The Committee’s determinations under the Plan need not be
uniform and may be made by it selectively among persons who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the Committee shall be entitled to make non-uniform and selective determinations,
amendments and adjustments and to enter into non-uniform and selective Award Agreements. 
  

	 	S.	Employees Employed in Foreign Jurisdictions 

 In order to enable participants who are
foreign nationals or employed outside the United States, or both, to receive Awards under the Plan, the Committee may adopt such amendments, administrative policies, sub-plans and the like as are necessary or advisable, in the opinion of the
Committee, to effectuate the purposes of the Plan and achieve favorable tax treatment or facilitate compliance under the laws of the applicable foreign jurisdiction without otherwise violating the terms of the Plan. Therefore, to the extent the
Committee determines that the restrictions imposed by this Plan preclude the achievement of material purposes of the Awards in jurisdictions outside of the United States, the Committee has the authority and discretion to modify those restrictions as
the Committee determines to be necessary or appropriate to conform to applicable requirements or practices of jurisdictions outside of the United States. 
  

	 	T.	Substitute Awards 

 Awards may be granted under this Plan from time to time in
substitution for Awards held by employees of other corporations who are about to become Employees, or whose employer is about to become an Affiliate, as the result of a merger or consolidation of the Company or an Affiliate with another corporation,
the acquisition by the Company or an Affiliate of all or substantially all the assets of another corporation or the acquisition by the Company or an Affiliate of at least 50% of the issued and outstanding stock of another corporation. The terms and
conditions of the substitute Awards so granted may vary from the terms and conditions set forth in this Plan to such extent as the Board at the time of the grant may deem appropriate to conform, in whole or in part, to the provisions of the Awards
in substitution for which they are granted, but with respect to Awards which are Incentive Stock Options, no such variation shall be permitted which affects the status of any such substitute option as an Incentive Stock Option. 

Awards may be granted under this Plan in substitution for awards relating to shares of common stock of the Parent or for cash incentive awards
and, in either case, outstanding immediately prior to the Spin-Off. The terms and conditions of any substitute Awards so granted may vary from the terms and conditions set forth in this Plan to such extent the Board or the Committee, as applicable,
at the time of the grant may deem appropriate to conform, in whole or in part, to the provisions of the awards in substitution for which they are granted. Notwithstanding 

  
 18 

 
the foregoing, nothing herein shall require such substitute Awards to be made under this Plan, the terms of any such substitute Awards may vary from Award to Award, and any such substitute Awards
may be made with respect to one or more prior awards (in whole or in part) and individuals and need not be made with respect to all prior awards or with respect to all such individuals. The Board or the Committee, as applicable, shall have
discretion to select individuals to whom such substitute Awards are to be granted and the applicable terms and number of shares or amount of cash applicable to such Awards. Notwithstanding the foregoing, in no event shall such substitution occur to
the extent such substitution would cause a violation of Code Section 409A. 
 VII. Effective Date and Term 

Subject to the completion of the Spin-Off and the approval of the Company shareholders, this Plan shall be effective July 1, 2015 and
shall continue in effect until June 30, 2025, when it shall terminate. Upon termination, any balances in the reserve established under Section I.D. shall be cancelled, and no Awards shall be granted under the Plan thereafter. The Plan shall
continue in effect, however, insofar as is necessary, to complete all of the Company’s obligations under outstanding Awards or to conclude the administration of the Plan. 

  
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