Document:

Performance-based Restricted Stock Unit Award Agreement

 Exhibit 10.17 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 
 [Date of Grant] 
 This RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”) is entered into as of the date first written above by and between PPG Industries, Inc. (the
“Company”) and                      (the “Participant”). 
 The Company maintains the PPG Industries, Inc. Omnibus Incentive Plan (as amended from time to time, the “Plan”), which is incorporated into and forms a part of this Agreement, and the Participant has been
selected by the Officers-Directors Compensation Committee (the “Committee”) to receive an Award under the Plan. The Award is intended to qualify as “qualified performance-based compensation” as described in
Section 162(m)(4)(C) of the Code. Capitalized terms used in this Agreement shall, unless defined elsewhere in this Agreement, have the respective meanings given to such terms in the Plan. 
 The Award of Restricted Stock Units shall be confirmed by a separate Grant Notice to which this Agreement is attached (the “Grant Notice”), specifying the Date
of Grant of the Award, the number of Restricted Stock Units granted and the Award Goals (as defined in the Grant Notice) applicable to such Restricted Stock Units. Each Restricted Stock Unit is a bookkeeping entry representing the equivalent in
value of a share of Common Stock. Such Award shall be subject to the terms and conditions of this Agreement and such Grant Notice shall be deemed incorporated by reference into this Agreement. 
 NOW, THEREFORE, the Company and the Participant, intending to be legally bound, agree as follows: 
  

	1.	Terms and Conditions of the Award. 

  

	 	A.	This Agreement sets forth the terms and conditions applicable to the Award of Restricted Stock Units confirmed in the Grant Notice. The Award of Restricted Stock Units is made under
Article VII of the Plan. Unless and until the Restricted Stock Units are vested and certified in the manner set forth in paragraph 1.F. and 2.A. hereof, the Participant shall have no right to settlement of any such Restricted Stock Units.

  

	 	B.	The Committee may terminate the Award at any time on or prior to the Vesting Date (as defined in the Grant Notice) if, in its sole discretion, the Committee determines that the
Participant is no longer in a position to have a substantial opportunity to influence the long-term growth of the Company. 

  

	 	C.	 Prior to settlement of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all)

	 	 
only from the general assets of the Company. The Company’s obligations under this Agreement shall be unfunded and unsecured, and no special or separate
fund shall be established and no other segregation of assets shall be made and the Participant shall have no greater rights than an unsecured general creditor of the Company. Except as otherwise specifically provided in the Grant Notice or this
Agreement, the Participant shall have no rights as a stockholder of the Company by virtue of any Restricted Stock Units granted under this Award unless and until such Award is determined to be vested and resulting shares of Common Stock are issued
to the Participant. 

  

	 	D.	If the Participant’s employment with the Company terminates prior to the Vesting Date but after the first anniversary of the Date of Grant because of retirement, disability or
job elimination (each, as determined in the Committee’s sole discretion), the Participant shall be entitled to the same Award to which the Participant would have been entitled had the Participant’s employment continued through the Vesting
Date (based on actual performance as measured against the Award Goals), and such Award shall be paid as soon as practicable following the Certification Date (as defined below), subject to paragraph 2.C. hereof; provided, however, that the
Committee, in its sole discretion, may determine that the Participant will be entitled to a lesser Award. In the event of the Participant’s death during his or her employment with the Company prior to the Vesting Date but after the first
anniversary of the Date of Grant, the Participant’s Award shall be deemed fully vested and such Award shall be paid to the Participant’s Beneficiary as promptly as practicable following the Participant’s death (the “Accelerated
Payout Date”), subject to paragraph 2.C. hereof; provided, however, that the Committee, in its sole discretion, may determine that the Participant will be entitled to a lesser Award. 

  

	 	E.	If the Participant’s employment with the Company terminates prior to the Vesting Date for any reason other than retirement, disability, job elimination or death, or for any
reason before the first anniversary of the Date of Grant, the Participant’s Award shall be forfeited on the date of such termination; provided, however, that the Committee, in its sole discretion, may determine that the Participant will
be entitled to a full or partial payout with respect to the Award, but in no event shall the amount of such payout exceed the amount that would be payable based on actual performance as measured against the Award Goals in accordance with the
requirements of Section 162(m) of the Code, in the case of a termination of the Participant’s employment due to retirement or job elimination. Any payout of the Award pursuant to this paragraph 2.E. shall be paid as soon as practicable
following the Certification Date, subject to paragraph 2.C. hereof. 

  

	 	F.	 The Committee shall determine and certify in accordance with the requirements of Section 162(m) of the Code the extent, if any, to which the applicable Award
Goals have been attained and the extent, if any, to which the Award has been earned by the Participant, as of the end of the Award Period or such other date as the Committee may select in its sole discretion (the “Certification Date”). The

  

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Committee shall have the negative discretion to reduce or eliminate any payout for the Award. The Committee may not increase the amount payable as a result
of the performance as measured against the Award Goals. 

  

	 	G.	The Award shall be subject to the provisions of Section 7.04 of the Plan concerning a Change in Control of the Company, in which case the payout of the Award shall be made as
soon as practicable following the date of the Change in Control, subject to paragraph 2.C. hereof; provided, however, that if the Change in Control would not constitute a “change in control event” under U.S. Treas. Reg. §
1.409A-3(i)(5), then the restrictions to which the Restricted Stock Units are subject shall terminate as provided in Section 7.04 of the Plan, but the payout of the Award shall be made as soon as practicable following the Certification Date,
subject to paragraph 2.C. hereof (for avoidance of doubt, the Restricted Stock Units that vest pursuant to this paragraph 1.G. shall not be subject to the performance and certification procedures contemplated by Section 1.F. hereof).

  

	2.	Payout on Account of Awards. 

  

	 	A.	Upon certification by the Committee of the level of attainment of the Award Goals in accordance with paragraph 1.F. hereof and satisfaction of all other applicable conditions as to
the issuance of the Restricted Stock Units, and otherwise subject to this Agreement and the terms of the Plan, the Participant shall be entitled to the number of shares of Common Stock constituting the Award as determined by the Committee. The
Participant shall be entitled to receive a payout of the vested Award in the form of cash, shares of Common Stock or a combination of cash and shares, less any Tax-Related Items as defined in paragraph 7, as determined by the Committee in its sole
discretion. The amount of any cash to be paid in lieu of Common Stock shall be determined on the basis of the Fair Market Value of the Common Stock as of the applicable Payout Date (as defined below). 

  

	 	B.	Any shares of Common Stock issued to the Participant with respect to his or her Award shall be subject to such restrictions as the Committee may deem advisable under the rules,
regulations and other requirements of the Securities and Exchange Commission, the New York Stock Exchange and any applicable state or foreign securities laws, and the Committee may cause a legend or legends to be endorsed on any stock certificates
for such shares making appropriate references to such legal restrictions. 

  

	 	C.	 Except as otherwise provided in this Agreement, and except in the event the Participant is permitted and has made an election to defer payout of the Restricted
Stock Units pursuant to the terms and conditions established by the Company, the issuance of the shares of Common Stock in accordance with the provisions of this paragraph 2 will be delivered as soon as practicable following the earliest to occur of
the Certification Date, the Accelerated Payout Date, or to the extent applicable, the date of a Change in Control (the “Payout Date”), but in any event not later 

  

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than (i) the last day of the calendar year in which the applicable Payout Date occurs, or (ii) if later, the 15th day of the third calendar month
following the applicable Payout Date. Payout of Restricted Stock Units that have been deferred shall be governed by the terms and conditions of the deferral election form. 

  

	3.	Continuing Conditions. Notwithstanding any other provisions herein, the Participant, by execution of this Agreement, agrees and acknowledges that in return for the Award
granted by the Company in this Agreement, the following continuing conditions shall apply: 

  

	 	A.	If at any time prior to the Vesting Date or within one (1) year after the Vesting Date the Participant engages in any activity in competition with any activity of the Company
or any of its Subsidiaries, or contrary or harmful to the interests of the Company or any of its Subsidiaries, including, but not limited to: (1) conduct related to the Participant’s employment for which either criminal or civil penalties
against the Participant may be sought; (2) violation of Company (or Subsidiary) Business Conduct Policies; (3) accepting employment with or serving as a consultant, advisor or in any other capacity to an employer that is in competition
with or acting against the interests of the Company or any of its Subsidiaries, including employing or recruiting any present, former or future employee of the Company or any of its Subsidiaries; (4) disclosing or misusing any confidential
information or material concerning the Company or any of its Subsidiaries; or (5) participating in a hostile takeover attempt, then this Award shall terminate effective as of the date on which the Participant enters into such activity, unless
terminated sooner by operation of another term or condition of this Agreement, and any “Award Gain” realized by the Participant shall be paid by the Participant to the Company. “Award Gain” shall mean the cash and the Fair Market
Value of the Common Stock delivered to the Participant pursuant to paragraph 2 on the date of such delivery times the number of shares so delivered. Any shares of Common Stock deferred by the Participant shall be considered to have been delivered
for the purpose of this paragraph 3. 

  

	 	B.	By accepting this Agreement, the Participant consents to a deduction from any amounts the Company or any of its Subsidiaries owes the Participant from time to time (including
amounts owed the Participant as wages or other compensation, fringe benefits or vacation pay, as well as any other amounts owed to the Participant by the Company or any of its Subsidiaries), to the extent of the amounts payable to the Company by the
Participant under paragraph 3.A. above. Whether or not the Company elects to make any set-off in whole or in part, if the Company does not recover by means of set-off the full amount payable by the Participant, calculated as set forth above, the
Participant agrees to pay immediately the unpaid balance to the Company. 

  

	 	C.	The Participant may be released from the Participant’s obligations under paragraphs 3.A and 3.B above only if the Committee determines, in its sole discretion, that such action
is in the best interest of the Company. 

  

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	4.	Award Subject to Plan Provisions. Unless otherwise expressly provided in the Grant Notice or this Agreement, the Restricted Stock Unit Award shall be subject to the
provisions of the Plan, including, without limitation, Article XI. In the event of any conflict between this Agreement and either the Grant Notice or the Plan, the Grant Notice or Plan, as applicable, shall control over this Agreement.

  

	5.	Applicable Law; Entire Agreement; Venue. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania without reference
to any choice of law principles. The Grant Notice, this Agreement and the Plan contain all terms and conditions with respect to the subject matter hereof. 

 For purposes of litigating any dispute that arises under the Award or this Agreement, the parties hereby submit to and consent to the jurisdiction of the Commonwealth of Pennsylvania, and agree that such litigation
shall be conducted in the courts of Allegheny County, Pennsylvania, or other federal courts for the United States for the Western District of Pennsylvania, and no other courts, where this Award of Restricted Stock Units is made and/or to be
performed. The parties agree that, if suit is filed in Allegheny County courts, application will be made by one or both parties, without objection, to have the case heard in the Center for Commercial and Complex Litigation of the Court of Common
Pleas of Allegheny County. 
  

	6.	Further Assurances. The Participant agrees, upon demand of the Company or the Committee, to do all acts and execute, deliver and perform all additional documents, instruments
and agreements (including, without limitation, stock powers with respect to shares of Common Stock issued or otherwise distributed in relation to this Award) which may be reasonably required by the Company or the Committee, as the case may be, to
implement the provisions and purposes of the Grant Notice, this Agreement and the Plan. 

  

	7.	Taxes. Regardless of any action the Company and/or the Subsidiary employing the Participant (the “Employer”) take with respect to any or all income tax (including
U.S. federal, state, and local tax and/or non-U.S. tax), social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), the Participant acknowledges that the ultimate liability for all Tax-Related
Items legally due by the Participant is and remains the Participant’s responsibility and that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with
any aspect of the Award, including the grant and vesting of the Restricted Stock Units, the certification of the Award Goals, the conversion of the Restricted Stock Units into shares or the receipt of an equivalent cash payment, the subsequent sale
of any shares acquired pursuant to the Restricted Stock Units and the receipt of any dividends or Dividend Equivalents; and (ii) do not commit to structure the terms of the grant or any aspect of the Award to reduce or eliminate the
Participant’s liability for Tax-Related Items. 

 Prior to the relevant taxable event, the Participant shall pay or make
adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related 

  

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Items. In this regard, the Participant authorizes the Company and/or the Employer to satisfy the Tax-Related Items obligation by withholding otherwise
deliverable shares of Common Stock, provided that the Company only withholds the amount of shares necessary to satisfy the minimum withholding amount or such other amount as may be necessary to avoid adverse accounting treatment. In addition, the
Participant authorizes the Company and/or the Employer, in their sole discretion and pursuant to such procedures as the Company may specify from time to time, to withhold any Tax-Related Items necessary to comply with legal requirements by one or
more of the following means: (i) arranging for the sale of shares of Common Stock acquired upon the vesting of the Award (on the Participant’s behalf and at the Participant’s direction pursuant to this authorization) and withholding
from the cash proceeds; and /or (ii) withholding from any wages or other cash compensation paid to the Participant by the Company and/or the Employer or from any equivalent cash payment received in connection with the Award. If the obligation
for Tax-Related Items is satisfied by withholding a number of shares as described herein, the Participant shall be deemed, for tax purposes only, to have been issued the full number of shares of Common Stock subject to the vested portion of the
Award, notwithstanding that a number of shares are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of the Award. The Participant shall pay to the Company and/or the Employer any amount of Tax-Related
Items that is required to be withheld in connection with the Restricted Stock Units that cannot be satisfied by the means previously described. The Company may refuse to deliver to the Participant any shares of Common Stock pursuant to the Award if
the Participant fails to comply with his or her obligations in connection with the Tax-Related Items as described in this paragraph. 
  

	8.	Transfer Restrictions. This Award and the Restricted Stock Units are not transferable other than by will or the laws of descent and distribution, and may not be assigned,
hypothecated or otherwise pledged and shall not be subject to execution, attachment or similar process. Upon any attempt to effect any such disposition, or upon the levy of any such process, the Award shall immediately become null and void and the
Restricted Stock Units shall be forfeited. 

  

	9.	Capitalization Adjustments. The number of Restricted Stock Units awarded is subject to adjustment as provided in Section 11.07(a) of the Plan. The Participant shall be
notified of such adjustment and such adjustment shall be binding upon the Company and the Participant. 

  

	10.	Securities Law Compliance. Notwithstanding anything to the contrary contained herein, no shares of Common Stock shall be issued to the Participant upon vesting of this
Restricted Stock Unit Award unless the Common Stock is then registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or, if such Common Stock is not then so registered, the Company has determined that such
vesting and issuance would be exempt from the registration requirements of the Securities Act. By accepting this Award, the Participant agrees not to sell any of the shares of Common Stock received under this Award at a time when the applicable laws
or Company policies prohibit a sale. 

  

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	11.	Award Confers No Rights to Continued Employment. Nothing contained in the Plan or this Agreement shall give the Participant the right to be retained in the employment of the
Company or any Subsidiary or affect the right of any such employer to terminate the Participant’s employment. 

  

	12.	Severability. If any provision of this Agreement shall be held to be illegal, invalid or unenforceable, that provision will be enforced to the maximum extent permissible and
the legality, validity and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  

	13.	Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the Award or future awards under the Plan by electronic means or
request the Participant’s consent to participate in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system
established and maintained by the Company or a third party designated by the Company. 

  

	14.	Code Section 409A. It is the intent that the vesting or the payout of the Restricted Stock Units set forth in this Agreement shall comply with the requirements of
Section 409A of the Code, and any ambiguities herein will be interpreted to so comply. The Company reserves the right, to the extent the Company deems necessary or advisable in its sole discretion, to unilaterally amend or modify this Agreement
as may be necessary to ensure that all vesting or payouts provided under this Agreement are made in a manner that complies with Section 409A of the Code; provided, however, that the Company makes no representation that the vesting or
payout of Restricted Stock Units provided under this Agreement will comply with Section 409A of the Code. 

  

			
	PPG Industries, Inc.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

							
		 	I Accept	 	I Do Not Accept	 	

  

 - 7 -Whirlpool Corporation Deferred Compensation Plan II

 Exhibit 10(iii)(e) 
 Whirlpool Corporation 
 Deferred Compensation Plan II 
 For Non-Employee Directors 
 (As Amended and Restated Effective January 1, 2009) 

 Contents 
  

					
		    	 Article 1. Plan Purpose, Eligibility and Effective Date
	  	1
			
	1.1	    	Purpose	  	1
	1.2	    	Effective Date and Compliance with Section 409A of the Code	  	1
	1.3	    	Eligibility and Participation Rules	  	1
			
		    	 Article 2. Definitions
	  	1
			
	2.1	    	Definitions	  	1
			
		    	 Article 3. Plan Administration
	  	3
			
	3.1	    	Plan Administration	  	3
	3.2	    	Notifications	  	3
			
		    	 Article 4. Election to Defer Compensation
	  	3
			
	4.1	    	Timing of Elections	  	3
	4.2	    	Content of Elections	  	3
	4.3	    	Duration of Elections	  	3
			
		    	 Article 5. Deferred Compensation Accounts
	  	4
			
	5.1	    	Accounts	  	4
	5.2	    	Crediting of Deferred Compensation	  	4
	5.3	    	Crediting of Investment Returns	  	4
	5.4	    	No Right to Company Assets	  	4
			
		    	 Article 6. Distribution of Deferred Compensation
	  	5
			
	6.1	    	Distribution Elections; Form and Timing of Distributions	  	5
	6.2	    	Distributions in the Event of Death	  	5
	6.3	    	Distributions in the Event of Unforeseeable Emergency	  	6
	6.4	    	Acceleration of Benefits	  	6
	6.5	    	Distributions Upon a Change in Control	  	6
			
		    	 Article 7. Plan Amendment or Termination
	  	6
			
	7.1	    	Amendment and Termination	  	6
			
		    	 Article 8. Miscellaneous
	  	7
			
	8.1	    	Non-Assignability	  	7
	8.2	    	Deferred Stock Units	  	7

  

 -i- 

 Article 1. Plan Purpose, Eligibility and Effective Date 
 1.1 Purpose 
 The Plan has been established for the mutual benefit of the Company and Participants with its primary
purpose to allow for the voluntary deferral by an Outside Director of the receipt of Compensation to future years. 
 1.2 Effective Date and Compliance
with Section 409A of the Code 
 The Plan as originally adopted was effective with respect to any Compensation payable to an Outside Director for
services performed on or after January 1, 2005. The Plan is hereby amended and restated effective January 1, 2009 to make changes to the Plan as required or permitted by Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”), and applicable guidance issued thereunder. It is intended that any income to a Participant deferred pursuant to this Plan will not be subject to interest and additional tax under Section 409A of the Code. The provisions
of the Plan will be interpreted and construed in favor of the Plan meeting any applicable requirements of Section 409A of the Code. The Company, in its absolute discretion, may amend (including retroactively) this Plan to conform to
Section 409A of the Code, including amendments to facilitate the ability of a Participant to avoid the imposition of interest and additional tax under Section 409A of the Code. However, the preceding provisions shall not be construed as a
guaranty by the Company of any particular tax effect on any income deferred under the terms of the Plan pursuant to a Participant’s election. In any event, the Company will have no responsibility for the payment of any applicable taxes on
income deferred by the Participant pursuant to the provisions of this Plan. 
 1.3 Eligibility and Participation Rules 
 A member of the Company’s Board of Directors who is not an employee of the Company, or of any subsidiary or affiliate of the Company, shall become eligible to
participate in the Plan upon being elected to the Board of Directors. Such Outside Director shall be considered a Participant in the Plan upon the first date an amount is credited to a Deferred Compensation Account for such Outside Director in
accordance with Article 5. A Participant’s eligibility to elect to defer Compensation will terminate if (i) the Participant ceases to be a Director or becomes an employee of the Company or of any subsidiary or affiliate of the Company or
(ii) the Participant dies, whichever event occurs first. Upon cessation of a Participant’s eligibility to elect to defer Compensation under the Plan, such Participant shall be considered an Inactive Participant. Any amounts previously
deferred for the benefit of such Inactive Participant pursuant to the terms of the Plan shall remain deferred and shall be paid to such Inactive Participant (or to such Inactive Participant’s beneficiary or beneficiaries) in accordance with
Article 6. 
 Article 2. Definitions 
 2.1 Definitions 

 Whenever used in the Plan, the following terms shall have the meaning set forth below unless the context clearly indicates otherwise. 
  

	(a)	“Board of Directors” or “Board” shall mean the Board of Directors of the Company. 

  

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	(b)	“Cash Compensation” shall mean the annual cash retainer and cash Board committee chair fees earned by an Outside Director. 

  

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

  

	(d)	“Company” shall mean Whirlpool Corporation. 

  

	(e)	“Compensation” shall mean an Outside Director’s Cash Compensation and Stock Awards. 

  

	(f)	“Deferred Cash Compensation” shall mean that portion of a Participant’s Cash Compensation that a Participant elects to defer pursuant to this Plan.

  

	(g)	“Deferred Compensation” shall mean an Outside Director’s Compensation, or portion thereof, that such Outside Director has elected to defer pursuant to this
Plan. 

  

	(h)	“Deferred Compensation Account” or “Account” shall mean the bookkeeping account created by the Company for the administration of each
Participant’s Deferred Compensation. 

  

	(i)	“Deferred Stock Unit(s)” shall mean that portion of a Stock Award or Awards which otherwise would be made to a Participant under an Equity Plan and which the
Participant elects to defer pursuant to the terms of such Equity Plan. 

  

	(j)	“Equity Plan” shall mean an equity plan maintained by the Company, including but not limited to the Whirlpool Corporation Non-Employee Director Equity Plan.

  

	(k)	“Fiscal Year” or “Year” shall mean the calendar year. 

  

	(l)	“Outside Director” shall mean a member of the Company’s Board of Directors who is not an employee of the Company or of any subsidiary or affiliate of the
Company. 

  

	(m)	“Participant” shall mean an Outside Director who has elected deferral of Compensation for any Fiscal Year pursuant to this Plan. 

  

	(n)	“Plan” shall mean the Whirlpool Corporation Deferred Compensation Plan II for Non-Employee Directors, originally effective January 1, 2005 and amended and
restated effective January 1, 2009. 

  

	(o)	“Stock Award” shall mean an award of the Company’s common stock to a Participant under an Equity Plan. 

  

	(p)	“Unforeseeable Emergency” shall mean a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s
spouse, the Participant’s beneficiary, or a dependent (as defined in Section 152 of the Code (without regard to Section 152(b)(1), Section 152(b)(2) and Section 152(d)(1)(B) of the Code) of the Participant, loss of the
Participant’s property due to casualty (including the need to rebuild the Participant a home following damage to a home not otherwise covered by insurance), or other similar extraordinary and unforeseeable circumstances arising as a result of
events beyond the control of the Participant. 

  

 -2- 

 Article 3. Plan Administration 
 3.1 Plan Administration 
 The Company shall have full power and discretionary authority to construe, interpret and administer the Plan.

 3.2 Notifications 
 Each election to defer Compensation
pursuant to this Plan and any amendment to such election shall be made on a notification form (“Notification”) provided by the Company. Each Notification shall, if it is submitted in a timely manner pursuant to Article 4, be effective
when it is received by the Secretary of the Company. Notifications not received in a timely manner shall be null and void ab initio. 
 Article 4.
Election to Defer Compensation 
 4.1 Timing of Elections 
 At any time prior to December 31 of each Year in accordance with such procedures as may be established by the Company, an Outside Director may elect to defer receipt of all or a part of the Outside Director’s Compensation to be
earned during the next succeeding Fiscal Year. Any election by a new Outside Director to defer Compensation shall be made with respect to services to be performed subsequent to the election and shall be made within thirty (30) days after the
date the Outside Director becomes eligible to participate in the Plan. 
 4.2 Content of Elections 
 Any election to defer Compensation shall specify the percentage of Compensation to be deferred and the manner in which the portion of the Participant’s Account
attributable to Deferred Cash Compensation shall be paid (as set forth in Section 6.1). If a Participant elects to defer less than all of his or her Cash Compensation, his or her deferrals of Cash Compensation will be made on a pro rata basis
from his or her quarterly Compensation during the Fiscal Year. Participants may elect to receive Deferred Stock Units in lieu of Stock Awards in increments of 25%, 50%, 75% and 100%. If a Participant elects to receive Deferred Stock Units in an
increment of less than 100%, Deferred Stock Units will, in accordance with the election of the Director, be granted in lieu of Stock Awards pursuant to the Equity Plan under which they are granted at the conclusion of each annual meeting of the
stockholders of the Company. An election may also specify the beneficiary(ies) to receive any unpaid amounts in the event of the Participant’s death. 
 4.3 Duration of Elections 
 Any election to defer Compensation shall continue in force with respect to all Compensation payable to such
Outside Director for services rendered in the Year to which such election relates. The amount accumulated pursuant to the deferral shall continue to be subject to the provisions of the Plan. Any subsequent election to defer Compensation shall be
subject to the timing restrictions described in Section 4.1. 
  

 -3- 

 Article 5. Deferred Compensation Accounts 
 5.1 Accounts 
 A Deferred Compensation Account shall be created and maintained for each Participant. 
 5.2 Crediting of Deferred Compensation 
 Each Participant’s
Account shall be credited on the last day of each calendar quarter with the amount of any Deferred Cash Compensation earned during that quarter and each Participant’s Account shall be credited immediately following the annual meeting of
stockholders of the Company with the amount of any Deferred Stock Units. 
 5.3 Crediting of Investment Returns 
  

	(a)	Deferred Cash Compensation. A Participant may specify that the portion of his or her Account attributable to Deferred Cash Compensation shall be treated as if it were
invested in any of the investment funds that are available under the Whirlpool 401(k) Plan (other than the Whirlpool Stock Fund). Such Participant’s Account shall be adjusted as of each business day for investment gains and losses accordingly
until the balance in the Account attributable to Deferred Cash Compensation has been fully distributed as provided in Article 6. Each such election shall be made at such time, in such manner and with respect to such investment funds as the Company
shall determine, and shall be effective only in accordance with such rules as the Company shall establish. If a Participant fails to make an election under this section, the portion of his or her Account attributable to Deferred Cash Compensation
shall be deemed to be invested in a default investment fund designated by the Company. 

  

	(b)	Deferred Stock Units. The portion of a Participant’s Account attributable to Deferred Stock Units shall be treated as if it were invested in the common stock of the
Company and shall be credited with dividend equivalents in accordance with the Equity Plan under which they are granted. 

 5.4 No Right to
Company Assets 
 The plan is not funded. The Accounts shall be a reserve on the books of the Company. No funds or common stock of the Company shall be
segregated or set aside by virtue of such reserve for the payment of amounts in the Accounts. Benefits will be paid solely from the Company’s general funds and are not secured by any form of trust, escrow or otherwise. The rights of
Participants with respect to amounts credited to their Accounts shall be those of general creditors. 
  

 -4- 

 Article 6. Distribution of Deferred Compensation 
 6.1 Distribution Elections; Form and Timing of Distributions 
  

	(a)	Deferred Cash Compensation. At the time that a Participant elects to participate in the Plan by making a deferral election on his or her Notification, the Participant shall
elect the form of payment from the Plan for the portion of his or her Account attributable to Deferred Cash Compensation. A Participant may elect to receive distribution of the portion of his or her Account attributable to Deferred Cash Compensation
either in a single lump sum cash payment or in approximately equal monthly or quarterly cash payments over a period not to exceed ten (10) years, commencing on the first day of the second calendar month following the date on which the
Participant ceases to be a Director, provided that such time of distribution does not result in tax pursuant to Section 409A of the Code and is otherwise permissible under applicable law. Such election regarding the form of distributions may be
changed by a Participant if required by applicable law. If a Participant does not make a valid election with respect to distribution of the portion of his or her Account attributable to Deferred Cash Compensation, the payment shall be made in a cash
lump sum on the first day of the second calendar month following the date on which the Participant ceases to be a Director. 

  

	(b)	Deferred Stock Units. Distribution of the portion of a Participant’s Account attributable to Deferred Stock Units shall be made by the issuance of shares of common stock
of the Company on the first day of the second calendar month following the date on which the Participant ceases to be a Director. 

  

	(c)	Six-Month Delay in Payment for Specified Employees. Notwithstanding anything in this Plan to the contrary, if a Participant is or becomes a “specified employee” as
described in Section 409A of the Code and Treasury Regulations issued thereunder and as determined by the Company according to its regular procedures for making such determinations, by which the Participant shall be bound, the payment of any
amount to which the Participant would otherwise be entitled to receive under the Plan on account of such Participant’s “separation from service” (within the meaning of Section 409A of the Code) shall be delayed until the first
day of the seventh calendar following the month in which the Participant’s “separation from service” occurs. During the period for which payment of any amount is delayed pursuant to this provision, such amount shall continue to be
credited with investment returns in accordance with Section 5.3 throughout the entire period of the delay. 

 6.2 Distributions in the
Event of Death 
 Notwithstanding anything in the Plan to the contrary, in the event of a Participant’s death, distribution of the portion of a
Participant’s Account attributable to Deferred Cash Compensation shall be made in the form designated by the Participant in his or her Notification (or if no form is designated, in a lump sum distribution). Distribution of the portion of his or
her Account attributable to Deferred Stock Units shall be made by the issuance of shares of common stock of the Company. In the case of a Participant whose death occurs prior to commencement of distribution of his or her Account, death distributions
shall be made in a lump sum (or if elected by the 

  

 -5- 

 
Participant at the time of his Notification, installments shall commence) on the first day of the second calendar month following the date of the
Participant’s death. In the case of a Participant whose death occurs after commencement of installment payments in accordance with Section 6.1(a), the remainder of the Participant’s Account shall be paid in a lump sum payment on the
first day of the second calendar month following the Participant’s death, or if elected by the Participant at the time of his or her Notification, death distributions shall continue to be paid in installments over the remainder of the period
designated by the Participant. Distributions on account of a Participant’s death shall be made to the beneficiary or beneficiaries designated by the Participant in his or her Notification, or, if no designation has been made, to the
Participant’s estate. A Participant may change his or her beneficiary or beneficiaries by a Notification to the Company. Any such Notification shall be effective when it is received by the Secretary of the Company. 
 6.3 Distributions in the Event of Unforeseeable Emergency 
 Notwithstanding a Participant’s distribution election under section 6.1, a Participant may, to the extent permitted by Section 409A of the Code, request a lump sum distribution of the portion of his or her Account
attributable to Deferred Cash Compensation in the event of Unforeseeable Emergency. The amount of a distribution in the event of Unforeseeable Emergency shall not exceed the amount necessary to satisfy such emergency need plus amounts necessary to
pay taxes or penalties reasonably anticipated as a result of the distribution, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise, by liquidation of the
Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). 
 6.4 Acceleration of Benefits

 There shall be no acceleration of the time or schedule of any payment under the Plan, except as provided in section 6.3. 
 6.5 Distributions Upon a Change in Control 
 To the extent permissible
under Section 409A of the Code, notwithstanding anything herein to the contrary, upon the occurrence of a Change in Control, each Participant’s Deferred Compensation Account balance shall become due and payable and shall be distributed on
the first day of the second calendar month following the Change in Control. The portion of a Participant’s Account attributable to Deferred Cash Compensation shall be distributed in a single lump sum cash payment and the portion of a
Participant’s Account attributable to Deferred Stock Units shall be distributed in such forms as may be provided in the Equity Plan under which they are granted. For purposes of this Section 6.5, a Change in Control means an event that
would constitute a change in ownership or effective control of the Company, or a change in the ownership of a substantial portion of the assets of the Company, within the meaning of Section 409A of the Code. 
 Article 7. Plan Amendment or Termination 
 7.1 Amendment and Termination

 The Board of Directors shall have the right to amend the Plan from time to time or to terminate the privilege under the Plan of deferring Compensation
to be earned, but any such amendment or termination shall not reduce any Account of a Participant or former Participant as of the date of the amendment. The Board of Directors may also elect to terminate the Plan itself, in which event, the 

  

 -6- 

 
Accounts of Participants shall be disposed of as determined by the Board of Directors, in accordance with Section 409A of the Code and regulations
promulgated by the Secretary of the Treasury thereunder. 
 Article 8. Miscellaneous 
 8.1 Non-Assignability 
 The right to receive payments hereunder shall not be assigned, transferred, pledged or
encumbered. 
 8.2 Deferred Stock Units 
 Deferred Stock
Units shall be subject to the terms, conditions and limitations of the Equity Plan under which they are granted. 
 * * * * *

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly authorized officers on the 19th day of
December, 2008. 
  

			
	Whirlpool Corporation
		
	By:	 	 /s/    David A. Binkley

		 	David A. Binkley,
		 	Senior Vice President
		 	Global Human Resources

 Attest: 
  

			
	By:	 	 /s/    Robert J. LaForest

		 	Robert J. LaForest,
		 	 Associate General Counsel
 and Assistant
Secretary

  

 -7-

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