Document:

EX-4.2

 Exhibit 4.2 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 PARKER-HANNIFIN
CORPORATION 
 and 

Morgan Stanley & Co. International plc 

Citigroup Global Markets Limited 

MIZUHO INTERNATIONAL PLC 

J.P. MORGAN SECURITIES PLC 

WELLS FARGO SECURITIES INTERNATIONAL LIMITED 

KEYBANC CAPITAL MARKETS INC. 

MUFG SECURITIES EMEA PLC 

BNY MELLON CAPITAL MARKETS EMEA LIMITED 

COMMERZBANK AKTIENGESELLSCHAFT 

HSBC SECURITIES (USA) INC. 

LLOYDS BANK PLC 
 PNC
CAPITAL MARKETS LLC 
 TD SECURITIES (USA) LLC 

Dated as of February 24, 2017 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of February 24, 2017, by and among
Parker-Hannifin Corporation, an Ohio corporation (the “Company”) and the initial purchasers listed in Schedule I of the Purchase Agreement (as defined below) (collectively, the “Initial Purchasers”), each of whom has agreed to
purchase the Company’s €700,000,000 aggregate principal amount 1.125% Senior Notes due 2025 (the “Initial Securities”) pursuant to the Purchase Agreement (as defined below). 

This Agreement is made pursuant to the Purchase Agreement, dated February 21, 2017 (the “Purchase Agreement”), among the
Company and the Initial Purchasers (i) for the benefit of the Initial Purchasers and (ii) for the benefit of the holders from time to time of the Initial Securities, including the Initial Purchasers. In order to induce the Initial
Purchasers to purchase the Initial Securities, the Company has agreed to provide the registration rights set forth in this Agreement. 
 The
parties hereby agree as follows: 
 SECTION 1. Definitions. As used in this Agreement, the following capitalized terms
shall have the following meanings: 
 Additional Interest Payment Date: With respect to the Initial Securities, each Interest
Payment Date. 
 Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which banking institutions or trust companies
located in New York, New York are authorized or obligated to be closed. 
 Closing Date: The date of this Agreement.

 Commission: The Securities and Exchange Commission. 

Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this Agreement upon the occurrence of
(i) the filing and effectiveness under the Securities Act of the Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the Exchange Offer, (ii) the maintenance of such Registration Statement continuously
effective and the keeping of the Exchange Offer open for a period not less than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the Company to the Registrar under the Indenture of Exchange Securities
in the same aggregate principal amount as the aggregate principal amount of Initial Securities that were tendered by Holders thereof pursuant to the Exchange Offer. 

Exchange Act: The Securities Exchange Act of 1934, as amended. 

 Exchange Offer: The registration by the Company under the Securities Act of the Exchange
Securities pursuant to a Registration Statement pursuant to which the Company offers the Holders of all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding Transfer Restricted Securities held by such Holders
for Exchange Securities in an aggregate principal amount equal to the aggregate principal amount of the Transfer Restricted Securities tendered in such exchange offer by such Holders. 

Exchange Offer Registration Statement: The Registration Statement relating to the Exchange Offer, including the related Prospectus.

 Exempt Resales: The transactions in which the Initial Purchasers propose to sell the Initial Securities to certain
“qualified institutional buyers,” as such term is defined in Rule 144A under the Securities Act and to certain non-U.S. persons pursuant to Regulation S under the Securities Act. 

Exchange Securities: The 1.125% Senior Notes due 2025, of the same series under the Indenture as the Initial Securities, to be issued
to Holders in exchange for Transfer Restricted Securities pursuant to this Agreement. 
 FINRA: Financial Industry Regulatory
Authority, Inc. 
 Holders: As defined in Section 2(b) hereof. 

Indemnified Holder: As defined in Section 8(a) hereof. 

Indenture: The base indenture dated as of May 3, 1996, among the Company and Wells Fargo Bank, N.A. (as successor to National City
Bank), as trustee (the “Trustee”), as supplemented to date and as further supplemented by (i) the Officers’ Certificate dated February 24, 2017 with respect to the issuance of the Initial Securities. 

Initial Purchaser: As defined in the preamble hereto. 

Initial Placement: The issuance and sale by the Company of the Initial Securities to the Initial Purchasers pursuant to the Purchase
Agreement. 
 Initial Securities: As defined in the preamble hereto. 

Interest Payment Date: As defined in the Indenture and the Initial Securities. 

Person: Any individual, corporation, limited liability company, partnership, joint venture, trust, unincorporated organization or
government or any agency or political subdivision thereof. 
 Prospectus: The prospectus included in a Registration Statement
(including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act), as amended or supplemented by any
prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference into such Prospectus. 

  
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 Registration Default: As defined in Section 5 hereof. 

Registration Statement: Any registration statement of the Company relating to (a) an offering of Exchange Securities pursuant to
an Exchange Offer or (b) the registration for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement, which is filed pursuant to the provisions of this Agreement, in each case, including the Prospectus included
therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference or deemed to be incorporated by reference therein. 

Securities Act: The Securities Act of 1933, as amended. 

Shelf Filing Deadline: As defined in Section 4(a) hereof. 

Shelf Registration Statement: As defined in Section 4(a) hereof. 

Transfer Restricted Securities: Each Initial Security, until the earliest to occur of (a) the date on which such Initial Security
is exchanged in the Exchange Offer for an Exchange Security entitled to be resold to the public by the Holder thereof without complying with the prospectus delivery requirements of the Securities Act, (b) the date on which such Initial Security
has been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement and (c) the date on which such Initial Security is distributed to the public by a Broker-Dealer pursuant to the
“Plan of Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained therein). 

Trust Indenture Act: The Trust Indenture Act of 1939, as amended. 

Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an underwriter for
reoffering to the public. 
 SECTION 2. Securities Subject to this Agreement. 

(a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer Restricted
Securities. 
 (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer Restricted
Securities (each, a “Holder”) whenever such Person owns Transfer Restricted Securities. 
 SECTION 3.
Registered Exchange Offer. 
 (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission policy
(after the procedures set forth in Section 6(a) hereof have been complied with), the Company shall (i) use commercially reasonable efforts to cause such Registration 

  
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Statement to become effective by the Commission and the Exchange Offer to be Consummated in no event later than 360 days after the Closing Date (or if such 360th day is not a Business
Day, the next succeeding Business Day) and (ii) in connection with the foregoing, file (A) all pre-effective amendments to such Registration Statement as may be necessary in order to cause such Registration Statement to become effective,
(B) if applicable, a post-effective amendment to such Registration Statement pursuant to Rule 430A under the Securities Act and (C) cause all necessary filings in connection with the registration and qualification of the Exchange
Securities to be made under the state securities or blue sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer. The Exchange Offer shall be on the appropriate form permitting registration of the Exchange
Securities to be offered in exchange for the Transfer Restricted Securities and to permit resales of Initial Securities held by Broker-Dealers as contemplated by Section 3(c) hereof. 

(b) The Company shall use commercially reasonable efforts to cause the Exchange Offer Registration Statement to be effective
continuously and shall keep the Exchange Offer open for a period of not less than the minimum period required under applicable federal and state securities laws to Consummate the Exchange Offer; provided, however, that in no event shall such
period be less than 30 days after the date notice of the Exchange Offer is delivered to the Holders. The Company shall cause the Exchange Offer to comply with all applicable federal and state securities laws. No securities other than the Exchange
Securities shall be included in the Exchange Offer Registration Statement. 
 (c) The Company shall indicate in a “Plan of
Distribution” section contained in the Prospectus forming a part of the Exchange Offer Registration Statement that any Broker-Dealer who holds Initial Securities that are Transfer Restricted Securities and that were acquired for its own account
as a result of market-making activities or other trading activities (other than Transfer Restricted Securities acquired directly from the Company), may exchange such Initial Securities pursuant to the Exchange Offer; however, such Broker-Dealer may
be deemed to be an “underwriter” within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by such
Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section
shall also contain all other information with respect to such resales by Broker-Dealers that the Commission may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer
or disclose the amount of Initial Securities held by any such Broker-Dealer except to the extent required by the Commission as a result of a change in policy after the date of this Agreement. 

The Company shall use commercially reasonable efforts to keep the Exchange Offer Registration Statement continuously effective, supplemented
and amended as required by the provisions of Section 6(c) hereof to the extent necessary to ensure that it is available for resales of Initial Securities acquired by Broker-Dealers for their own accounts as a result of market-making activities
or other trading activities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period ending on the earlier of
(i) 180 days from the date on which the Exchange Offer Registration Statement is declared effective and (ii) the date on which a Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or other trading
activities. 

  
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 The Company shall provide sufficient copies of the latest version of such Prospectus to
Broker-Dealers promptly upon request at any time during such 180-day (or shorter as provided in the foregoing sentence) period in order to facilitate such resales. 

SECTION 4. Shelf Registration. 

(a) Shelf Registration. If (i) the Company is not required to file an Exchange Offer Registration Statement or to
Consummate the Exchange Offer because the Exchange Offer is not permitted by applicable law or Commission policy (after the procedures set forth in Section 6(a) hereof have been complied with), (ii) for any reason the Exchange Offer is not
Consummated within 360 days after the Closing Date (or if such 360th day is not a Business Day, the next succeeding Business Day), or (iii) with respect to any Holder of Transfer Restricted Securities that notifies the Company (A) such
Holder is prohibited by applicable law or Commission policy from participating in the Exchange Offer and provides an opinion of counsel at such Holder’s cost to such effect, or (B) such Holder may not resell the Exchange Securities
acquired by it in the Exchange Offer to the public without delivering a prospectus and that the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for such resales by such Holder, or (C) such
Holder is a Broker-Dealer and holds Initial Securities acquired directly from the Company or one of its affiliates, then, upon such Holder’s request, the Company shall use commercially reasonable efforts to  

(x) promptly cause to be filed a shelf registration statement pursuant to Rule 415 under the Securities Act, which may be an amendment to
the Exchange Offer Registration Statement (in either event, the “Shelf Registration Statement”) but in no event later than 60 days after the date on which such filing obligation arises (or if such 60th day is not a Business Day,
the next succeeding Business Day) (such date being the “Shelf Filing Deadline”), which Shelf Registration Statement shall provide for resales of all Transfer Restricted Securities the Holders of which shall have provided the information
required pursuant to Section 4(b) hereof; and 
 (y) cause such Shelf Registration Statement to be declared effective by the Commission
on or before the 180th day after the Shelf Filing Deadline (or if such 180th day is not a Business Day, the next succeeding Business Day). 

The Company shall use commercially reasonable efforts to keep such Shelf Registration Statement continuously effective, supplemented and
amended as required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of Initial Securities by the Holders of Transfer Restricted Securities entitled to the benefit of this
Section 4(a), and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period of at least 365 days following
the effective date of such Shelf Registration Statement (or shorter period that will terminate when all the Initial Securities covered by such Shelf Registration Statement have been sold pursuant to such Shelf Registration Statement). 

  
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 (b) Provision by Holders of Certain Information in Connection with the Shelf
Registration Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Company in
writing, within 10 Business Days after receipt of a request therefor, such information as the Company may reasonably request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included therein. Each
Holder as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not
materially misleading. 
 SECTION 5. Additional Interest. If (i) the Exchange Offer has not been Consummated
within 360 Business Days (or if such 360th day is not a Business Day, the next succeeding Business Day) after the Closing Date with respect to the Exchange Offer Registration Statement
or (ii) any Registration Statement required by this Agreement is filed and declared effective but shall thereafter cease to be effective or fail to be usable for its intended purpose without being succeeded immediately by a post-effective
amendment to such Registration Statement that cures such failure and that is itself immediately declared effective (each such event referred to in clauses (i) through (ii), a “Registration Default”), the Company hereby agrees that the
interest rate borne by the Transfer Restricted Securities shall be increased by 0.25% per annum during the 90-day period immediately following the occurrence of any Registration Default and shall increase by 0.25% per annum at the end of
each subsequent 90-day period, but in no event shall such increase exceed 1.00% per annum (“Additional Interest”). Immediately following the cure of all Registration Defaults relating to any particular Transfer Restricted Securities,
the interest rate borne by the relevant Transfer Restricted Securities will be reduced to the original interest rate borne by such Transfer Restricted Securities; provided, however, that, if after any such reduction in interest rate, a
different Registration Default occurs, the interest rate borne by the relevant Transfer Restricted Securities shall again be increased pursuant to the foregoing provisions. 

All obligations of the Company set forth in the preceding paragraph that are outstanding with respect to any Transfer Restricted Security at
the time such security ceases to be a Transfer Restricted Security shall survive until such time as all such obligations with respect to such security shall have been satisfied in full. 

SECTION 6. Registration Procedures. 

(a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Company shall comply with all of the
provisions of Section 6(c) hereof, shall use commercially reasonable efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution thereof, and
shall comply with all of the following provisions: 
 (i) As a condition to its participation in the Exchange Offer
pursuant to the terms of this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Company, prior to the Consummation thereof, a written representation 

  
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to the Company (which may be contained in the letter of transmittal contemplated by the Exchange Offer Registration Statement) to the effect that (A) it is not an affiliate of the Company,
(B) it is not engaged in, and does not intend to engage in, and has no, and will not have any, arrangement or understanding with any Person to participate in, the distribution of the Exchange Securities to be issued in the Exchange Offer and
(C) it is acquiring the Exchange Securities in its ordinary course of business. In addition, all such Holders of Transfer Restricted Securities shall otherwise cooperate in the Company’s preparations for the Exchange Offer. Each Holder
hereby acknowledges and agrees that any Broker-Dealer and any such Holder using the Exchange Offer to participate in a distribution of the securities to be acquired in the Exchange Offer (1) could not under Commission policy as in effect on the
date of this Agreement rely on the position of the Commission enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the
Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters (which may include any no-action letter obtained pursuant to clause (i) above), and (2) must comply with the registration and
prospectus delivery requirements of the Securities Act in connection with any such secondary resale transaction and that such a secondary resale transaction should be covered by an effective registration statement containing the selling security
holder information required by Item 507 or 508, as applicable, of Regulation S-K or any successor provisions under the Securities Act if the resales are of Exchange Securities obtained by such Holder in
exchange for Initial Securities acquired by such Holder directly from the Company. 
 (b) Shelf Registration Statement. In
connection with the Shelf Registration Statement, the Company shall comply with all the provisions of Section 6(c) hereof and shall use commercially reasonable efforts to effect such registration to permit the sale of the Transfer Restricted
Securities being sold in accordance with the intended method or methods of distribution thereof, and pursuant thereto the Company will prepare and file with the Commission a Registration Statement relating to the registration on any appropriate form
under the Securities Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance with the intended method or methods of distribution thereof. 

(c) General Provisions. In connection with any Registration Statement and any Prospectus required by this Agreement to permit
the sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of Initial Securities by Broker-Dealers), the Company shall: 

(i) use commercially reasonable efforts to keep such Registration Statement continuously effective and provide all requisite
financial statements; upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain a material misstatement or omission or (B) not to be effective and usable for resale
of Transfer Restricted Securities during the period required by this Agreement, the Company shall file promptly an appropriate amendment to such Registration Statement, in the case of clause (A), correcting any such misstatement or omission,
and, in the case of either clause (A) or (B), use commercially reasonable efforts to cause such amendment to be declared effective and such Registration Statement and the related Prospectus to become usable for their intended purpose(s) as soon
as practicable thereafter; 

  
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 (ii) prepare and file with the Commission such amendments and post-effective
amendments to the applicable Registration Statement as may be necessary to keep the Registration Statement effective for the applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter period as will terminate when all
Transfer Restricted Securities covered by such Registration Statement have been sold; cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act,
and to comply fully with the applicable provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration
Statement during the applicable period in accordance with the intended method or methods of distribution by the sellers thereof set forth in such Registration Statement or supplement to the Prospectus; 

(iii) advise the underwriter(s), if any, and selling Holders that, in each case, have provided in writing to the Company a
telephone or facsimile number and address for notices, promptly and, if requested by such Persons, to confirm such advice in writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with
respect to any Registration Statement or any post-effective amendment thereto, when the same has become effective, (B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus
or for additional information relating thereto, (C) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement under the Securities Act or of the suspension by any state securities commission
of the qualification of the Transfer Restricted Securities for offering or sale in any jurisdiction, or the initiation of any proceeding for any of the preceding purposes, (D) of the existence of any fact or the happening of any event that
makes any statement of a material fact made in the Registration Statement, the Prospectus, any amendment or supplement thereto, or any document incorporated by reference therein untrue, or that requires the making of any additions to or changes in
the Registration Statement or the Prospectus in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. If at any time the Commission shall issue any stop order suspending the effectiveness
of the Registration Statement, or any state securities commission or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the Transfer Restricted Securities under state securities or blue
sky laws, the Company shall use commercially reasonable efforts to obtain the withdrawal or lifting of such order at the earliest possible time; 

(iv) upon request, furnish without charge to each of the Initial Purchasers, each selling Holder named in any Registration
Statement, and each of the underwriter(s), if any, before filing with the Commission, copies of any Registration Statement or any Prospectus included therein or any amendments or supplements to any such Registration Statement or Prospectus
(including all documents incorporated by reference after the 

  
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initial filing of such Registration Statement), which documents will be subject to the review and comment of such Holders and underwriter(s) in connection with such sale, if any, for a period of
at least two Business Days, and the Company will not file any such Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or Prospectus (including all such documents incorporated by reference) to which
an Initial Purchaser of Transfer Restricted Securities covered by such Registration Statement or the underwriter(s), if any, shall reasonably object in writing within two Business Days after the receipt thereof (such objection to be deemed timely
made upon confirmation of telecopy transmission within such period). The objection of an Initial Purchaser or underwriter, if any, shall be deemed to be reasonable if such Registration Statement, amendment, Prospectus or supplement, as applicable,
as proposed to be filed, contains a material misstatement or omission; 
 (v) promptly prior to the filing of any document
that is to be incorporated by reference into a Registration Statement or Prospectus, provide copies of such document to the Initial Purchasers, each selling Holder named in any Registration Statement, and to the underwriter(s), if any, make the
Company’s representatives available for discussion of such document and other customary due diligence matters, and include such information in such document prior to the filing thereof as such selling Holders or underwriter(s), if any,
reasonably may request; 
 (vi) make available at reasonable times for inspection by the Initial Purchasers, the managing
underwriter(s), if any, participating in any disposition pursuant to such Registration Statement and any attorney or accountant retained by such Initial Purchasers or any of the underwriter(s), all relevant financial and other records, pertinent
corporate documents and properties of the Company that shall be reasonably available for such inspection and cause the Company’s officers, directors and employees to supply all relevant information reasonably requested by any such Holder,
underwriter, attorney or accountant in connection with such Registration Statement or any post-effective amendment thereto subsequent to the filing thereof and prior to its effectiveness as is customary for similar due diligence exercises and to
participate in meetings with investors to the extent requested by the managing underwriter(s), if any; 
 (vii) if requested
by any selling Holders or the underwriter(s), if any, promptly incorporate in any Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and underwriter(s),
if any, may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to the principal amount of Transfer
Restricted Securities being sold to such underwriter(s), the purchase price being paid therefor and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required filings of such Prospectus
supplement or post-effective amendment as soon as practicable after the Company is notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

  
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 (viii) use commercially reasonable efforts to cause the Transfer Restricted
Securities covered by the Registration Statement to be rated with the appropriate rating agencies, if so requested by the Holders of a majority in aggregate principal amount of Securities covered thereby or the underwriter(s), if any; 

(ix) furnish to each Initial Purchaser, each selling Holder and each of the underwriter(s), if any, without charge, at least
one copy of the Registration Statement, as first filed with the Commission, and of each amendment thereto, including (if specifically requested) financial statements and schedules, all documents incorporated by reference therein and all exhibits
(including exhibits incorporated therein by reference); 
 (x) deliver to each selling Holder and each of the
underwriter(s), if any, without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Holders reasonably may request; the Company hereby consents to the use of the Prospectus
and any amendment or supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or
supplement thereto; 
 (xi) enter into such customary agreements (including, if requested, an underwriting agreement in
customary form), and, if entering into an underwriting agreement, make such representations and warranties in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings (consistent with the
Purchase Agreement), and take all such other commercially reasonable actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to any Registration Statement contemplated by this
Agreement, all to such extent as may be reasonably requested by any Initial Purchaser or by any Holder of Transfer Restricted Securities or underwriter in connection with any sale or resale pursuant to any Registration Statement contemplated by this
Agreement; and if an underwriting or similar agreement is entered into in connection with an Underwritten Registration, the Company shall: 

(A) furnish to each Initial Purchaser, each selling Holder and each underwriter, if any, in such form, substance and scope as
they may reasonably request and as are customarily made by issuers to underwriters in primary underwritten offerings: 

(1) a certificate signed by (y) the President or any Vice President and (z) a principal financial or accounting
officer of the Company, confirming, as of the date thereof, the matters set forth in Section 5(b) of the Purchase Agreement and such other matters as such parties may reasonably request; 

(2) an opinion of counsel for the Company, covering such matters as such parties may reasonably request, and in any event
including a statement to the effect that such counsel has participated in conferences 

  
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with officers and other representatives of the Company, representatives of the independent public accountants for the Company, representatives of the underwriter(s), if any, and counsel to the
underwriter(s), if any, in connection with the preparation of such Registration Statement and the related Prospectus and have considered the matters required to be stated therein and the statements contained therein, although such counsel has not
independently verified the accuracy, completeness or fairness of such statements; and that such counsel advises that, on the basis of the foregoing, no facts came to such counsel’s attention that caused such counsel to believe that the
applicable Registration Statement, at the time such Registration Statement or any post-effective amendment thereto became effective, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein
or necessary to make the statements therein not misleading, or that the Prospectus contained in such Registration Statement as of its date contained an untrue statement of a material fact or omitted to state a material fact necessary in order to
make the statements therein not misleading. Without limiting the foregoing, such counsel may state further that such counsel assumes no responsibility for, and has not independently verified, the accuracy, completeness or fairness of the financial
statements, notes and schedules and other financial data included in any Registration Statement contemplated by this Agreement or the related Prospectus; and 

(3) a customary comfort letter from the Company’s independent accountants, or such other applicable independent
accountants in the customary form and covering matters of the type customarily requested to be covered in comfort letters by underwriters in connection with primary underwritten offerings, and covering or affirming the matters set forth in the
comfort letters delivered pursuant to Section 5(f) and Section 5(g) of the Purchase Agreement, without exception; 

(B) set forth in full or incorporate by reference in the underwriting agreement, if any, the indemnification provisions and
procedures of Section 8 hereof with respect to all parties to be indemnified pursuant to said Section; and 
 (C)
deliver such other documents and certificates as may be reasonably requested by such parties to evidence compliance with Section 6(c)(xi)(A) hereof and with any customary conditions contained in the underwriting agreement or other agreement
entered into by the Company pursuant to this Section 6(c)(xi), if any. 
 If at any time the representations and
warranties of the Company contemplated in Section 6(c)(xi)(A)(1) hereof cease to be true and correct, the Company shall so advise the Initial Purchasers and the underwriter(s), if any, and each selling Holder promptly and, if requested by such
Persons, shall confirm such advice in writing; 

  
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 (xii) prior to any public offering of Transfer Restricted Securities,
reasonably cooperate with the selling Holders, the underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the state securities or blue sky laws of such
jurisdictions as the selling Holders or underwriter(s), if any, may reasonably request in writing and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted
Securities covered by the Shelf Registration Statement; provided, however, that the Company shall not be required to register or qualify as a foreign corporation where it is not then so qualified or to take any action that would subject it to
the service of process in suits or to taxation, other than as to matters and transactions relating to the Registration Statement, in any jurisdiction where it is not then so subject; 

(xiii) reasonably cooperate with the selling Holders and the underwriter(s), if any, to facilitate the timely preparation and
delivery of certificates representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the Holders or the
underwriter(s), if any, may reasonably request (consistent with the provisions of the Indenture) at least two Business Days prior to any sale of Transfer Restricted Securities made by such Holders or underwriter(s); 

(xiv) use commercially reasonable efforts to cause the Transfer Restricted Securities covered by the Registration Statement to
be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the disposition of such Transfer Restricted Securities,
subject to the proviso contained in Section 6(c)(xii) hereof; 
 (xv) if any fact or event contemplated by
Section 6(c)(iii)(D) hereof shall exist or have occurred, prepare a supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated therein by reference or file any other required document
so that, as thereafter delivered to the purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein not
misleading; 
 (xvi) provide a CUSIP number for all Securities not later than the effective date of the Registration
Statement covering such Securities and provide the Trustee under the Indenture with printed certificates for such Securities which are in a form eligible for deposit with Euroclear Bank SA/NV and Clearstream Banking, société anonyme
and take all other action necessary to ensure that all such Securities are eligible for deposit with Euroclear Bank SA/NV and Clearstream Banking, société anonyme; 

(xvii) reasonably cooperate and assist in any filings required to be made with FINRA and in the performance of any due
diligence investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules and regulations of FINRA; 

  
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 (xviii) otherwise use commercially reasonable efforts to comply with all
applicable rules and regulations of the Commission, and make generally available to its security holders, as soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158 (which need not be audited) for the twelve-month
period (A) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm commitment or commercially reasonable efforts Underwritten Offering or (B) if not sold to underwriters in
such an offering, beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement; 

(xix) cause the Indenture to be qualified under the Trust Indenture Act not later than the effective date of the first
Registration Statement required by this Agreement, and, in connection therewith, cooperate with the Trustee and the Holders of Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified in accordance
with the terms of the Trust Indenture Act; and to execute and use commercially reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to be filed with
the Commission to enable such Indenture to be so qualified in a timely manner; and 
 (xx) use commercially reasonable
efforts to cause all Securities covered by the Registration Statement to be listed on each securities exchange or automated quotation system on which similar securities issued by the Company are then listed if requested by the Holders of a majority
in aggregate principal amount of Initial Securities or the managing underwriter(s), if any. 
 Each Holder agrees by acquisition of a
Transfer Restricted Security that, upon receipt of any notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D) hereof, such Holder will forthwith discontinue disposition of Transfer Restricted
Securities pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or until it is advised in writing (the
“Advice”) by the Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Company, each Holder will
deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was current at the time of receipt of such
notice. In the event the Company shall give any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by the number of days during the period
from and including the date of the giving of such notice pursuant to Section 6(c)(iii)(D) hereof to and including the date when each selling Holder covered by such Registration Statement shall have received the copies of the supplemented or
amended Prospectus contemplated by Section 6(c)(xvi) hereof or shall have received the Advice; provided, however, that no such extension shall be taken into account in determining whether Additional Interest is due pursuant to
Section 5 hereof or the amount of such Additional Interest, it being agreed that the Company’s option to suspend use of a Registration Statement pursuant to this paragraph shall be treated as a Registration Default for purposes of
Section 5 hereof. Each Holder also agrees not to make any offer relating to the Transfer Restricted Securities that would constitute a free writing prospectus as defined in Rule 405 of the Securities Act required to be filed with the
Commission. 

  
 -13- 

 SECTION 7. Registration Expenses. 

(a) All expenses incident to the Company’s performance of or compliance with this Agreement excluding underwriting discounts, if any,
will be borne by the Company, regardless of whether a Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees and expenses (including filings made by any Initial Purchaser or Holder with
FINRA (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of FINRA)); (ii) all fees and expenses of compliance with federal securities
and state securities or blue sky laws; (iii) all expenses of printing (including printing certificates for the Exchange Securities to be issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services and telephone;
(iv) all fees and disbursements of counsel for the Company and, subject to Section 7(b) hereof, the Holders of Transfer Restricted Securities; (v) all application and filing fees in connection with listing the Exchange Securities on a
securities exchange or automated quotation system pursuant to the requirements thereof; and (vi) all fees and disbursements of independent certified public accountants of the Company (including the expenses of any special audit and comfort
letters required by or incident to such performance). The Company will, in any event, bear its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the
expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by the Company. 
 (b) In
connection with any Registration Statement required by this Agreement (including, without limitation, the Exchange Offer Registration Statement and the Shelf Registration Statement), the Company, will reimburse the Initial Purchasers and the Holders
of Transfer Restricted Securities being tendered in the Exchange Offer and/or resold pursuant to the “Plan of Distribution” contained in the Exchange Offer Registration Statement or registered pursuant to the Shelf Registration Statement,
as applicable, for the reasonable fees and disbursements of not more than one counsel, who shall be Weil, Gotshal & Manges LLP or such other counsel as may be chosen by the Holders of a majority in principal amount of the Transfer
Restricted Securities for whose benefit such Registration Statement is being prepared; provided that such fees and disbursements of counsel shall not exceed $5,000. 

SECTION 8. Indemnification. 

(a) The Company agrees to indemnify and hold harmless (i) each Holder and (ii) each Person, if any, who controls (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) any Holder and (iii) each affiliate of any Holder within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and
liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement, Prospectus (or any amendment or supplement thereto) or issuer free writing prospectus, or caused by any omission or alleged omission to state therein a material fact necessary to make the

  
 -14- 

 
statements therein in the light of the circumstances under which they were made not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue
statement or omission or alleged untrue statement or omission based upon information relating to any of the Holders furnished to the Company in writing by any of the Holders expressly for use therein. 

(b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors, its officers and each person, if
any who controls the Company (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) to the same extent as the foregoing indemnity from the Company to such Holders, but only with respect to such losses,
claims, damages, liabilities and judgments based on information relating to such Holder furnished to the Company in writing by such Holder expressly for use in any Registration Statement, Prospectus or issuer free writing prospectus. 

(c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity
may be sought pursuant to Section 8(a) or 8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the
indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay
the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such
indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the
indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying party shall not, in
respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all
such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by the indemnified party, in the case of parties indemnified pursuant to Section 8(a), and by the
Company, in the case of parties indemnified pursuant to Section 8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final
judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party
shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any
settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have
reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened

  
 -15- 

 
proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an
unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding. 
 (d) To the
extent the indemnification provided for in this Section 8(a) or 8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such
paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate
to reflect the relative benefits received by the Company, on the one hand, and the Holders, on the other hand, from the Initial Placement (which in the case of the Company shall be deemed to be equal to the total gross proceeds to the Company from
the Initial Placement), the amount of Additional Interest which did not become payable as a result of the filing of the Registration Statement resulting in such losses, claims, damages, liabilities, judgments actions or expenses, and such
Registration Statement, or (ii) if such allocation provided by clause 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause 8(d)(i) above but also
the relative fault of the Company, on the one hand, and the Holders, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of the Company on the one hand and of the Holder who is an indemnified party on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to information supplied by the Company, on the one hand, or such Holder, on the other hand, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. Any indemnified Holder’s obligations to contribute pursuant to this Section 8 are several in proportion to the respective principal amount of Initial Securities held by such
Holder hereunder and not joint. 
 The Company and each Holder agree that it would not be just or equitable if contribution pursuant to this
Section 8 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8(d).
The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, none of the Holders (and its related Holders who are indemnified parties)
shall be required to contribute any amount in excess of the amount by which the total discount received by such Holder with respect to the Initial Securities exceeds the amount of any damages that such Holder has otherwise been required to pay by
reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

  
 -16- 

 (e) The indemnity and contribution provisions contained in this Section 8 and the
representations, warranties and other statements contained in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement and (ii) any investigation made by or on behalf of any
Holder, any person controlling any Holder or any affiliate of any Holder or by or on behalf of the Company, its officers or directors or any person controlling the Company. 

SECTION 9. Rule 144A. The Company hereby agrees with each Holder, for so long as any Transfer Restricted Securities remain
outstanding and during any period in which the Company (i) is not subject to Section 13 or 15(d) of the Exchange Act, to make available, upon request of such Holder or beneficial owner of Transfer Restricted Securities in connection with
any sale thereof and any prospective purchaser of such Transfer Restricted Securities from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Securities Act in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144A under the Securities Act and (ii) is subject to Section 13 or 15(d) of the Exchange Act, to make all filings required thereby in a timely manner in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144. 
 SECTION 10. Participation in Underwritten Registrations. No Holder may
participate in any Underwritten Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to
approve such arrangements and (b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such underwriting arrangements.

 SECTION 11. Selection of Underwriters. The Holders of Transfer Restricted Securities covered by the Shelf
Registration Statement who desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker(s) and managing underwriter(s) that will administer such offering will be
selected by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided, however, that such investment banker(s) and managing underwriter(s) must be reasonably satisfactory
to the Company. 
 SECTION 12. Miscellaneous. 

(a) Remedies. The Company hereby agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a
breach by it of the provisions of this Agreement and hereby agree to waive the defense in any action for specific performance that a remedy at law would be adequate. 

(b) No Inconsistent Agreements. The Company will not on or after the date of this Agreement enter into any agreement with
respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof.  

  
 -17- 

 
The Company has not previously entered into any agreement granting any registration rights with respect to the Initial Securities to any Person. The rights granted to the Holders hereunder do not
in any way conflict with and are not inconsistent with the rights granted to the holders of the Company’s securities under any agreement in effect on the date hereof. 

(c) Adjustments Affecting the Initial Securities. The Company will not take any action, or permit any change within its control
to occur, with respect to the Initial Securities that would materially and adversely affect the ability of the Holders to Consummate any Exchange Offer. 

(d) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or
consents to or departures from the provisions hereof may not be given unless the Company has (i) in the case of Section 5 hereof and this Section 12(d)(i), obtained the written consent of Holders of all outstanding Transfer Restricted
Securities and (ii) in the case of all other provisions hereof, obtained the written consent of Holders of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding any Transfer Restricted Securities held by
the Company or its Affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose securities are being tendered pursuant to the Exchange Offer and that
does not affect directly or indirectly the rights of other Holders whose securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the outstanding principal amount of Transfer Restricted
Securities being tendered or registered; provided, however, that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company shall obtain the written consent of each such Initial
Purchaser with respect to which such amendment, qualification, supplement, waiver, consent or departure is to be effective. 

(e) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
first-class mail (registered or certified, return receipt requested), fax, or air courier guaranteeing overnight delivery: 

(i) if to a Holder, at the address set forth on the records of the Registrar under the Indenture, with a copy to the Registrar
under the Indenture; and 
 (ii) if to the Company: 

Parker-Hannifin Corporation 

6035 Parkland Boulevard 

Cleveland, Ohio 44124 
 Fax:
(216) 481-4057 
 Attention: Treasurer (with a copy to the General Counsel) 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; two
Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if faxed; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

  
 -18- 

 Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture. 
 (f) Successors and Assigns. This
Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities;
provided, however, that this Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted Securities from such Holder.

 (g) Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 (h) Headings.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

(i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CONFLICTS OF LAW RULES THEREOF. 
 (j) Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained
herein shall not be affected or impaired thereby. 
 (k) Contractual Recognition of
Bail-in. (a) Notwithstanding and to the exclusion of any other term of this Agreement or any other agreements, arrangements, or understanding between an Initial Purchaser and the Company, the Company acknowledges and accepts that a
BRRD Liability arising under this Agreement may be subject to the exercise of Bail-in Powers by the Relevant Resolution Authority, and acknowledges, accepts, and agrees to be bound by: 

(i) the effect of the exercise of Bail-in Powers by the Relevant Resolution Authority in relation to any BRRD Liability of an
Initial Purchaser to the Company under this Agreement, that (without limitation) may include and result in any of the following, or some combination thereof: 

(A) the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; 

(B) the conversion of all, or a portion, of the BRRD Liability into shares, other securities or other obligations of such
Initial Purchaser or another person, and the issue to or conferral on the Company of such shares, securities or obligations; 

  
 -19- 

 (C) the cancellation of the BRRD Liability; 

(D) the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on which any payments are
due, including by suspending payment for a temporary period; 
 (ii) the variation of the terms of this Agreement, as deemed
necessary by the Relevant Resolution Authority, to give effect to the exercise of Bail-in Powers by the Relevant Resolution Authority. 

(l) As used in this Section 15: 

(i) “Bail-in Legislation” means in relation to a member state of the European Economic Area which has
implemented, or which at any time implements, the BRRD, the relevant implementing law, regulation, rule or requirement as described in the EU Bail-in Legislation Schedule from time to time; 

(ii) “Bail-in Powers” means any Write-down and Conversion Powers as defined in the EU Bail-in
Legislation Schedule, in relation to the relevant Bail-in Legislation; 
 (iii) “BRRD” means
Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms; 

(iv) “EU Bail-in Legislation Schedule” means the document described as such, then in effect, and
published by the Loan Market Association (or any successor person) from time to time at http://www.lma.eu.com/pages.aspx?p=499; 

(v) “BRRD Liability” means a liability in respect of which the relevant Write Down and Conversion
Powers in the applicable Bail-in Legislation may be exercised; and 
 (vi) “Relevant Resolution
Authority” means the resolution authority with the ability to exercise any Bail-in Powers in relation to any Initial Purchaser. 

(m) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a
complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein with respect to the registration rights granted by the Company with respect to the Transfer Restricted Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.

  
 -20- 

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

  

					
	PARKER-HANNIFIN CORPORATION
		
	By:	 	/s/ Joseph R. Leonti
		 	Name:	 	Joseph R. Leonti
		 	Title:	 	Vice President, General Counsel and Secretary

 The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first above
written: 
 MORGAN STANLEY & CO. INTERNATIONAL PLC 

CITIGROUP GLOBAL MARKETS LIMITED 
 MIZUHO INTERNATIONAL PLC 

J.P. MORGAN SECURITIES PLC 
 WELLS FARGO SECURITIES INTERNATIONAL
LIMITED 
 KEYBANC CAPITAL MARKETS INC. 
 MUFG SECURITIES EMEA
PLC 
 BNY MELLON CAPITAL MARKETS EMEA LIMITED 
 COMMERZBANK
AKTIENGESELLSCHAFT 
 HSBC SECURITIES (USA) INC. 
 LLOYDS BANK
PLC 
 PNC CAPITAL MARKETS LLC 
 TD SECURITIES (USA) LLC 

 

					
	By:	 	Morgan Stanley & Co. International plc
		
	By:	 	/s/ Delphine Mavrot
		 	Name:	 	Delphine Mavrot
		 	Title:	 	Executive Director
		
	By:	 	Citigroup Global Markets Limited
		
	By:	 	/s/ James Barnard
		 	Name:	 	James Barnard
		 	Title:	 	Delegated Signatory

  
 -21- 

					
	By:	 	Mizuho International plc
		
	By:	 	/s/ Guy Reid
		 	Name:	 	Guy Reid
		 	Title:	 	Managing Director
		
	By:	 	J.P. Morgan Securities plc
		
	By:	 	/s/ Nick Daerant
		 	Name:	 	Nick Daerant
		 	Title:	 	Executive Director
		
	By:	 	Wells Fargo Securities International Limited
		
	By:	 	/s/ Damon Mageon
		 	Name:	 	Damon Mageon
		 	Title:	 	Director
		
	By:	 	KeyBanc Capital Markets Inc.
		
	By:	 	/s/ Eric Peiffer
		 	Name:	 	Eric Peiffer
		 	Title:	 	Managing Director
		
	By:	 	MUFG Securities EMEA plc
		
	By:	 	/s/ Trevor Kemp
		 	Name:	 	Trevor Kemp
		 	Title:	 	Authorised Signatory

  
 -22- 

					
	By:	 	BNY Mellon Capital Markets EMEA Limited
		
	By:	 	/s/ James Edwards
		 	Name:	 	James Edwards
		 	Title:	 	Managing Director
		
	By:	 	/s/ Oliver Martines
		 	Name:	 	Oliver Martines
		 	Title:	 	Managing Director

							
		
	By:	 	Commerzbank Aktiengesellschaft
			
	By:	 	/s/ Happel	 	/s/ Hauser            
		 	Name:	 	Happel	 	     Hauser
		 	Title:	 	Abteilungsdirektor Syndikus

					
		
	By:	 	HSBC Securities (USA) Inc.
		
	By:	 	/s/ Luiz Lanfredi
		 	Name:	 	Lauiz Lanfredi
		 	Title:	 	Vice President
		
	By:	 	Lloyds Bank plc
		
	By:	 	/s/ Christopher Evans
		 	Name:	 	Christopher Evans
		 	Title:	 	Associate Director
		
	By:	 	PNC Capital Markets LLC
		
	By:	 	/s/ Valerie Shadeck
		 	Name:	 	Valerie Shadeck
		 	Title:	 	Director

  
 -23- 

					
	By:	 	TD Securities (USA) LLC
		
	By:	 	/s/ Elsa Wang
		 	Name:	 	Elsa Wang
		 	Title:	 	Director

  
 -24-Exhibit

Exhibit 10.49

Second Amendment to the 
Weingarten Realty Retirement Plan
RECITALS:
A.WHEREAS, Weingarten Realty Investors (the “Employer”) has previously established the Weingarten Realty Retirement Plan (the “Plan”) for the benefit of those employees who qualify thereunder and for their Beneficiaries; and
B.WHEREAS, the Employer has determined it to be necessary and desirable to amend the Plan as described herein; and
C.WHEREAS, the Employer has the power and authority to amend the Plan pursuant to Section 16.1 of the Plan;
NOW, THEREFORE, pursuant to Section 16.1 of the Plan, the following amendment is hereby made and shall be effective as of January 1, 2016, or as otherwise provided herein.
1.    Section 5.2(b) is hereby amended to be and read as follows:
“(b)    An eligible Cash Balance Participant’s monthly normal retirement benefit shall be equal to 1/12th of the greater of (1) or (2) below, subject to (3) below:
		
	(1)
	the annual Participant’s Frozen Accrued Benefit, as described in Section 1.1 (x); or

		
	(2)
	the annual amount of normal retirement benefit payable to the Participant commencing on his Normal Retirement Date (or his Annuity Starting Date, if later) that is the Actuarial Equivalent of his Cash Balance Account.

    E

		
	(3)
	In all events, the Participant’s Cash Balance Account benefit as of the Participant’s Annuity Starting Date shall not be less than the sum of all Service Credits credited to the Participant as of that date. If a Participant has more than one Annuity Starting Date, the sum of all Service Credits is compared to the sum of the following: (i) the Participant’s benefit as of the current Annuity Starting Date; (ii) the amount of the reduction to the Participant’s benefit under this Section 5.2(b) that is attributable to any prior Cash Balance Account distribution to the Participant; and (iii) the amount that was treated as included in the benefit as a result of the application of this rule to the Participant as of any prior Annuity Starting Date. If the sum of all Service Credits as of the current Annuity Starting Date exceeds the sum of items (i)—(iii) in the preceding sentence, then the Cash Balance Account benefit to be distributed at the current Annuity Starting Date must be increased by an amount equal to the excess.”

2.     Section 5.5 is hereby amended to be and read as follows:
“5.5 Delayed Retirement
Subject to the required minimum distribution requirements of Code Section 401(a)(9) and Appendix A hereof, a Participant may elect to defer benefit commencement beyond Normal Retirement Date.
For a Grandfathered Participant, at the Participant’s actual retirement date, the Participant’s late retirement benefit shall be equal to the greater of (i) the Actuarial Equivalent of the Participant’s Accrued Benefit at the Participant’s Normal Retirement Date, or (ii) the Participant’s Accrued Benefit as of the actual date of retirement.
For a Cash Balance Participant, at the Participant’s actual retirement date, the Participant’s late retirement benefit shall be equal to the greater of the amount described in (i) or (ii) below:
		
	(i)
	The Actuarial Equivalent of the Participant’s normal retirement benefit as determined under Section 5.2(b)(1) at the Participant’s Normal Retirement Date; or

		
	(ii)
	The greater of (a) or (b), as follows: (a) the Actuarial Equivalent of the monthly retirement benefit payable in a single life annuity at the Participant’s Normal Retirement Date; or (b) the monthly retirement benefit payable in a single life annuity that is the Actuarial Equivalent of the Participant’s Cash Balance Account at the Participant’s actual retirement date.”

    E

3.Section 7.4 is hereby amended to be and read as follows:
“7.4 Payment
A monthly deferred vested retirement benefit shall be payable to an eligible participant commencing as of his Normal Retirement Date; provided, however, that a Participant who has 15 years of Service may elect to begin benefit payments as of the first day of any month following the month in which he attains age 55.”
4.The first sentence of Section 9.1, prior to paragraph (a) thereof, is hereby amended to be and read as follows:
“A Participant who is eligible to receive any retirement benefit under Section 5.1, 5.5, 6.1, 7.2, or 8.1 of the Plan shall receive payment of such benefits in accordance with one of the following normal forms of payment:”
5.The first sentence of Section 9.2 is hereby amended to be and read as follows:
“Within the election period described in Section 9.5, a Participant who is eligible to receive a normal, early, late, deferred vested, or disability retirement benefit may elect to receive payment of such benefit in accordance with any one of the following options.”

6.Section 9.2(g) is hereby amended to be and read as follows, effective January 1,2017:
“(g) Single Sum Payment. The Participant may elect to receive a single sum payment in lieu of any other retirement benefit payable under the Plan. Such single sum payment shall be equal to the following;
		
	(1)
	For a Grandfathered Participant, the Actuarially Equivalent present value of his vested Accrued Benefit, or late retirement benefit under Section 5.5, if applicable.

		
	(2)
	For a Cash Balance Participant, the greater of (i) or (ii) below, subject to (iii) below, as follows:

		
	(i)
	the vested balance in the Participant’s Cash Balance Account plus, if the Participant has passed his Normal Retirement Date, the Actuarial Equivalent lump sum amount of the excess, if any, of the Participant’s monthly retirement benefit payable as of his Annuity Starting Date in a single life annuity, determined under Section 5.5 less the monthly retirement benefit payable as of his Annuity Starting Date in a single life annuity that is the Actuarial Equivalent of his Cash Balance Account; or

		
	(ii)
	the Actuarially Equivalent present value of the Participant’s Frozen Accrued Benefit.

    E

		
	(iii)
	This paragraph (iii) is effective with respect to Cash Balance Participants in the Plan as of December 31, 2016. Prior to January 1, 2017, the amount described in paragraph (i) is the greater of the Participant’s vested Cash Balance Account balance or an amount equal to the present value of the Actuarial Equivalent of his Accrued Benefit, with present value determined using the "applicable interest rate" and the "applicable mortality table," as provided under Code Section 417(e) and related guidance. On and after January 1, 2017, if the present value of the Actuarial Equivalent of the Participant’s Accrued Benefit as of December 31, 2016 (with present value determined using the “applicable interest rate” and the “applicable mortality table,” as provided under Code Section 417(e) and related guidance) is greater than the amount described in paragraph (i), the greater amount shall be substituted for the amount described in paragraph (i).

A Participant may only elect this form of payment if the amount of the single sum payment, as determined above, does not exceed $50,000.”

    E

* * * * *
IN WITNESS WHEREOF, the Employer has caused the Plan to be amended by this Second Amendment this   30 day of December, 2016, to be effective as stated herein.
	
				
	Weingarten Realty Investors

	 
	 

	By:
	/s/ Stephen C. Richter

	 
	 
	 
	 

	Name:
	Stephen. C. Richter

	 
	 
	 
	 

	Title
	Exec. Vice President/CFO

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