Document:

First Amendment to Credit Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 This First Amendment to Credit Agreement, dated as of
May 29, 2009 (this “Agreement”) is entered into by and among Angiotech Pharmaceuticals, Inc., corporation organized under the laws of the Province of British Columbia, Canada (“Parent”), each of Parent’s
Subsidiaries identified on the signature pages hereto (such Subsidiaries are referred to hereinafter each individually as a “Borrower”, and collectively as the “Borrowers”), Wells Fargo Foothill, LLC, a Delaware
limited liability company (“Foothill”), as administrative agent for the Lenders (in such capacity, the “Agent”) and the lenders named on the signature pages hereto (the “Lenders”). 
 WHEREAS, Parent, the Borrowers, Agent and the Lenders are parties to that certain Credit Agreement, dated as of February 27, 2009 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized terms used in this Agreement and not defined herein shall have the applicable meanings given to such terms in the Credit Agreement);
and 
 WHEREAS, the Parent, the Borrowers, Agent and the Lenders agree to modify the Credit Agreement on and subject to the terms set forth
herein. 
 NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the parties hereto hereby agree as
follows: 
 1. Amendments to Credit Agreement. Subject to the satisfaction of the conditions set forth in Section 2 below, the
Credit Agreement is amended in the following respects: 
 (a) Section 2.2(b) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows: 
 “(b) Notwithstanding the foregoing, the Lenders with Term Loan Commitments shall have no
obligation to make any Term Loan at any time on or after the First Amendment Effective Date.” 
 (b) Section 2.4(c)(ii) of
the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 “(ii) Term Loan Commitments. The Term
Loan Commitments shall terminate on the First Amendment Effective Date.” 
 (c) Section 6.11 of the Credit Agreement is
hereby amended and restated in its entirety to read as follows: 
 “6.11 Investments. Except for Permitted Investments, directly
or indirectly, make or acquire any Investment or incur any liabilities (including contingent obligations) for or in connection with any Investment; provided, however, that (other than (a) an aggregate amount of not more than
$100,000 at any one time, in the case of Parent and its 

 
Subsidiaries (other than those that are CFCs), (b) amounts deposited into Deposit Accounts specially and exclusively used for payroll, payroll taxes and
other employee wage and benefit payments to or for Parent’s or its Subsidiaries’ employees, (c) an aggregate amount of not more than $12,000,000 at any one time (in each case, calculated at current exchange rates), in the case of
Subsidiaries of Parent that are CFCs and (d) cash deposited in a Deposit Account at Credit Suisse Securities (USA) LLC for the sole purpose of repurchasing Senior Notes in accordance with clause (l) of the definition of Permitted
Investments, provided that (i) such cash shall be used to purchase Senior Notes or returned to a Deposit Account subject to a Control Agreement within three Business Days of deposit and (ii) for the avoidance of doubt, the Borrowers shall
have cash and Cash Equivalents of at least $40,000,000 at all times while such cash is deposited in such Deposit Account) Parent and its Subsidiaries shall not have Permitted Investments consisting of cash, Cash Equivalents, or amounts credited to
Deposit Accounts or Securities Accounts unless Parent or its Subsidiary, as applicable, and the applicable securities intermediary or bank have entered into Control Agreements with Agent governing such Permitted Investments in order to perfect (and
further establish) Agent’s Liens in such Permitted Investments. Subject to the foregoing proviso, Parent shall not and shall not permit its Subsidiaries to establish or maintain any Deposit Account or Securities Account unless Agent shall have
received a Control Agreement in respect of such Deposit Account or Securities Account.” 
 (d) The definition of “Availability
Block” in Schedule 1.1 to the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 “‘Availability Block’ means (a) prior to the First Amendment Effective Date, $2,500,000 and (b) from and after the First Amendment Effective Date, $0.” 
 (e) The definition of “Permitted Investments” in Schedule 1.1 to the Credit Agreement is hereby amended by (i) deleting the word
“and” at the end of clause (j) thereof, (ii) deleting the period at the end of clause (k) thereof and substituting a comma in lieu thereof and (iii) adding the following new clauses (l) and (m) thereto to read
as follows: 
 “(l) purchases of the Senior Notes so long as (i) Borrowers shall have cash and Cash Equivalents of at least
$40,000,000 both before and after giving effect thereto (including, without limitation, during the period when cash is deposited in the Deposit Account described in Section 6.11(d)), (ii) Borrowers shall not have any outstanding
Advances during the 30 day period immediately before and the 30 day period immediately after giving effect thereto, (iii) Agent shall be satisfied that no trade payables of Parent or any of its Subsidiaries are aged in excess of historical
levels and no book overdrafts of Parent or any of its Subsidiaries are aged in excess of historical levels immediately prior to giving effect thereto, (iv) no Default or Event of Default shall have occurred and be continuing either before or
after giving effect thereto, (v) Parent shall have provided Agent with a written certificate, supported by detailed calculations, that on a pro forma basis, Parent and its Subsidiaries are projected to have (A) no outstanding
Advances at any time during the 12 month period immediately after giving effect thereto and (B) no Defaults or Events of Default existing at any time during the 12 month period immediately after giving effect thereto, and (vi) any
purchased Senior Notes shall be cancelled within 1 Business Day of the purchase thereof by Parent or its Subsidiaries, and 
  

 -2- 

 (m) one or more loans by Parent to Haemacure Corporation in an aggregate principal amount not to exceed
$3,500,000, so long as (i) no Default or Event of Default shall have occurred and be continuing either before or after giving effect thereto, (ii) such loans are evidenced by a promissory note issued by Haemacure Corporation to Parent,
which promissory note (and any warrant, guaranty or other security document) shall have been pledged by Parent to Agent, and the original of such promissory note (and any warrant, guaranty or other security document), together with a note power in
favor of Agent which is in form and substance reasonably satisfactory to Agent, shall have been delivered by Parent to Agent, in each case, in accordance with the terms of the Security Agreement, and (iii) in the event that the Indebtedness
evidenced by such loans is converted to capital Stock in Haemacure Corporation (or any of its Affiliates), such capital Stock shall be pledged to Agent in accordance with the terms of this Agreement and the Security Agreement.” 
 (f) The following new definitions are hereby added to Schedule 1.1 to the Credit Agreement in appropriate alphabetical order: 
 “‘First Amendment’ means the First Amendment to Credit Agreement, dated as of May 29, 2009, by and among Parent, Borrowers,
Agent and Lenders.” 
 “‘First Amendment Effective Date’ has the meaning assigned to the term ‘Amendment
Effective Date’ in the First Amendment.” 
 (g) Schedule C-1 to the Credit Agreement is hereby amended and restated in its
entirety as set forth on Exhibit A to this Agreement. 
 (h) Schedule P-2 to the Credit Agreement is hereby amended and
restated in its entirety as set forth on Exhibit B to this Agreement. 
 2. Conditions to Effectiveness. This Agreement shall
become effective (the “Amendment Effective Date”) when all of the following conditions have been satisfied: 
 (a) Agent
shall have received a copy of this Agreement duly executed by Parent, the Borrowers and the Lenders; 
 (b) Agent shall have received a copy
of the Consent and Affirmation set forth as Exhibit C to this Agreement duly executed by the Guarantors; 
 (c) as of the Amendment
Effective Date, the representations and warranties of Parent and the Borrowers herein, in Section 4 of the Credit Agreement and in each other Loan Document shall be true and correct in all material respects (except that such materiality
qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) after giving effect to this Agreement on and as of the Amendment Effective Date as though made on and
as of such date (except to the extent such representations and warranties expressly relate to an earlier date), and no Default or Event of Default shall have occurred and be continuing on the Amendment Effective Date or would result from this
Agreement becoming effective in accordance with its terms; 
 (d) the Borrowers shall have paid to Agent a fully earned and nonrefundable
amendment fee equal to $50,000; 
  

 -3- 

 (e) the Borrowers shall have paid all Lender Group Expenses incurred in connection with (i) the
preparation, execution and delivery of this Agreement and (ii) the transactions evidenced hereby and by the other Loan Documents, and the Borrowers shall have paid all fees due and payable pursuant to this Agreement and the other Loan
Documents; and 
 (f) all other documents and legal matters in connection with the transactions contemplated by this Agreement shall have
been delivered, executed, or recorded and shall be in form and substance reasonably satisfactory to Agent. 
 3. Representations and
Warranties. Parent and each of the Borrowers represents and warrants as follows: 
 (a) As to each such Person, the execution, delivery
and performance by such Person of this Agreement, and the performance by such Person of the Credit Agreement as amended hereby, have been duly authorized by all necessary action on the part of such Person, and such Person has all requisite power and
authority to enter into this Agreement and to carry out the transactions contemplated hereby and by the Credit Agreement as amended hereby. 
 (b) This Agreement, and the Credit Agreement as amended hereby, is the legally, valid and binding obligations of each such Person, enforceable against each such Person in accordance with its terms, except as enforcement may be limited by
equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 
 (c) The representations and warranties contained in Section 4 of the Credit Agreement are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any
representations and warranties that already are qualified or modified by materiality in the text thereof) after giving effect to this Agreement on and as of the Amendment Effective Date as though made on and as of the Amendment Effective Date
(except to the extent such representations and warranties expressly relate to an earlier date), and no Event of Default or Default has occurred and is continuing on and as of the Amendment Effective Date, or would result from this Agreement becoming
effective in accordance with its terms. 
 4. Release. Parent and each of the Borrowers may have certain Claims against the Released
Parties, as those terms are defined below, regarding or relating to the Credit Agreement or the other Loan Documents. Agent, the Lenders, Parent and the Borrowers desire to resolve each and every one of such Claims in conjunction with the execution
of this Agreement and thus Parent and each of the Borrowers makes the releases contained in this Section 4. In consideration of Agent and the Lenders entering into this Agreement, Parent and each of the Borrowers hereby fully and
unconditionally releases and forever discharges each of Agent and the Lenders, and their respective directors, officers, employees, subsidiaries, Affiliates, attorneys, agents and representatives, (collectively, the “Released
Parties”), of and from any and all claims, allegations, causes of action, costs or demands and liabilities, of whatever kind or nature, up to and including the date on which this Agreement is executed, whether known or unknown, liquidated
or unliquidated, fixed or contingent, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, anticipated 

  

 -4- 

 
or unanticipated, which Parent or any Borrower has, had, claims to have had or hereafter claims to have against the Released Parties by reason of any act or
omission on the part of the Released Parties, or any of them, occurring prior to the date on which this Agreement is executed, including all such loss or damage of any kind heretofore sustained or that may arise as a consequence of the dealings
among the parties up to and including the date on which this Agreement is executed, regarding or relating to the Credit Agreement, any of the Loan Documents, the Advances or any of the other Obligations, including administration or enforcement
thereof (collectively, the “Claims”). Parent and each of the Borrowers represents and warrants that it has no knowledge of any Claim by it against the Released Parties or of any facts or acts of omissions of the Released Parties
which on the date hereof would be the basis of a Claim by Parent or any of the Borrowers against the Released Parties which is not released hereby. Parent and each of the Borrowers represents and warrants that the foregoing constitutes a full and
complete release of all Claims. 
 5. Miscellaneous. 
 (a) Continued Effectiveness of the Credit Agreement. Except as otherwise expressly provided herein, the Credit Agreement and the other Loan Documents are, and shall continue to be, in full force and effect and
are hereby ratified and confirmed in all respects, except that on and after the Amendment Effective Date (i) all references in the Credit Agreement to “this Agreement”, “hereto”, “hereof”, “hereunder” or
words of like import referring to the Credit Agreement shall mean the Credit Agreement as amended by this Agreement, and (ii) all references in the other Loan Documents to the “Credit Agreement”, “thereto”,
“thereof”, “thereunder” or words of like import referring to the Credit Agreement shall mean the Credit Agreement as amended by this Agreement. To the extent that the Credit Agreement or any other Loan Document purports to pledge
to Agent, or to grant to Agent, a security interest or lien, such pledge or grant is hereby ratified and confirmed in all respects. Except as expressly provided herein, the execution, delivery and effectiveness of this Agreement shall not operate as
a waiver or an amendment of any right, power or remedy of Agent and the Lenders under the Credit Agreement or any other Loan Document, nor constitute a waiver or an amendment of any provision of the Credit Agreement or any other Loan Document.

 (b) Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by telefacsimile or other
electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement. 
 (c)
Headings. Headings and numbers have been set forth herein for convenience only. 
 (d) Amendment as Loan Document. The
Borrowers each hereby acknowledge and agree that this Agreement constitutes a “Loan Document” under the Credit Agreement. Accordingly, it shall be an Event of Default under the Credit Agreement if (i) any representation or warranty
made by Parent or any Borrower under or in connection with this Agreement shall have been not true and correct in all material respects when made, or (ii) Parent or any Borrower shall fail to perform or observe any term, covenant or agreement
contained in this Agreement. 
  

 -5- 

 (e) Governing Law. THE VALIDITY OF THIS AGREEMENT, THE CONSTRUCTION, INTERPRETATION, AND
ENFORCEMENT HEREOF, AND THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR RELATED HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 (f) Waiver of Jury Trial. PARENT AND EACH BORROWER AND EACH MEMBER OF THE LENDER GROUP HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. PARENT AND
EACH BORROWER AND EACH MEMBER OF THE LENDER GROUP REPRESENT THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS
AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
 [Remainder of this page intentionally left blank] 
  

 -6- 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of the date first above written. 

 

			
	 ANGIOTECH PHARMACEUTICALS, INC.,
 as
Parent

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	Chief Financial Officer
	
	 AFMEDICA, INC.,
 as a
Borrower

		
	By:	 	/s/ Jay Dent
	Name:	 	Jay Dent
	Title:	 	Treasurer
	
	 AMERICAN MEDICAL INSTRUMENTS HOLDINGS, INC.,
 as a Borrower

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	President and Treasurer
	
	 ANGIOTECH AMERICA, INC.,
 as a
Borrower

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	Chief Financial Officer

			
	 ANGIOTECH BIOCOATINGS CORP.,
 as a
Borrower

		
	By:	 	/s/ Jay Dent
	Name:	 	Jay Dent
	Title:	 	Treasurer
	
	 ANGIOTECH CAPITAL, LLC,
 as a Borrower

		
	By:	 	/s/ David D. McMasters
	Name:	 	David D. McMasters
	Title:	 	Manager
	
	 ANGIOTECH PHARMACEUTICALS (US), INC.,
 as a Borrower

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	Chief Financial Officer
	
	 B.G. SULZLE, INC.,
 as a
Borrower

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	President and Treasurer
	
	 CRIMSON CARDINAL CAPITAL, LLC,
 as a
Borrower

		
	By:	 	/s/ David D. McMasters
	Name:	 	David D. McMasters
	Title:	 	Manager

			
	 MANAN MEDICAL PRODUCTS, INC.,
 as a
Borrower

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	President and Treasurer
	
	 MEDICAL DEVICE TECHNOLOGIES, INC.,
 as
a Borrower

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	President and Treasurer
	
	 NEUCOLL, INC.,
 as a
Borrower

		
	By:	 	/s/ Jay Dent
	Name:	 	Jay Dent
	Title:	 	Treasurer
	
	 QUILL MEDICAL, INC.,
 as a Borrower

		
	By:	 	/s/ Jay Dent
	Name:	 	Jay Dent
	Title:	 	Treasurer
	
	 SURGICAL SPECIALTIES CORPORATION,
 as
a Borrower

		
	By:	 	/s/ K. Thomas Bailey
	Name:	 	K. Thomas Bailey
	Title:	 	President and Treasurer

			
	 WELLS FARGO FOOTHILL, LLC,
 as Agent
and as a Lender

		
	By:	 	/s/ Dennis Rebman
	Title:	 	Vice PresidentIngersoll-Rand Company Limited Amended and Restated Incentive Stock Plan of 2007

 Exhibit 10.1 
 INGERSOLL-RAND COMPANY LIMITED 
 INCENTIVE STOCK PLAN OF 2007 
 (Amended and Restated as of June 3, 2009) 
 1.
Purpose of the Plan 
 The purpose of the Plan is to aid the Company and its Affiliates in recruiting and retaining key employees and
directors and to motivate such employees and directors to exert their best efforts on behalf of the Company and its Affiliates by providing incentives through the granting of Awards. The Company expects that it will benefit from the added interest
which such key employees and directors will have in the welfare of the Company as a result of their proprietary interest in the Company’s success. 
 2. Definitions 
 The following capitalized terms used in the Plan have the respective meanings set forth in this Section:

 (a) Act:    The Securities Exchange Act of 1934, as amended, or any successor thereto.

 (b) Affiliate:    With respect to the Company, any Person or entity directly or indirectly
controlling, controlled by, or under common control with, the Company or any other Person or entity designated by the Board in which the Company or an Affiliate has an interest. 
 (c) Associate:    With respect to a specified Person, means (i) any corporation, partnership, or other
organization of which such specified Person is an officer or partner; (ii) any trust or other estate in which such specified Person has a substantial beneficial interest or as to which such specified Person serves as trustee or in a similar
fiduciary capacity; (iii) any relative or spouse of such specified Person, or any relative of such spouse who has the same home as such specified Person, or who is a director or officer of the Company or any of its Subsidiaries; and
(iv) any Person who is a director, officer, or partner of such specified Person or of any corporation (other than the Company or any wholly-owned Subsidiary), partnership or other entity which is an Affiliate of such specified person.

 (d) Award:    An Option, Stock Appreciation Right or Other Stock-Based Award granted pursuant to
the Plan. 
 (e) Beneficial Owner:    A “beneficial owner”, as such term is defined in
Rule 13d-3 under the Act (or any successor rule thereto) provided, however, that any individual, corporation, partnership, group, association or other Person or entity which has the right to acquire any of the Company’s
outstanding securities entitled to vote generally in election of directors at any time in the future, whether such right is contingent or absolute, pursuant to any agreement, arrangement or understanding or upon exercise of conversion rights,
warrants or options, or otherwise, shall be deemed the Beneficial Owner of such securities. 
 (f)
Board:    The Board of Directors of the Company. 
 (g) Change in
Control:    The date (i) any individual, corporation, partnership, group, association or other person or entity, together with its Affiliates and Associates (other than a trustee or other fiduciary holding securities
under an employee benefit plan of the Company or Ingersoll-Rand Company, a New Jersey corporation), is or becomes the Beneficial Owner of securities of the Company representing 30% or more of the combined voting power of the Company’s Voting
Securities; (ii) the Continuing Directors fail to constitute a majority of the members of the Board; (iii) of consummation of any transaction or series of transactions under which the Company is merged or consolidated with any other
company which is not an Affiliate; (iv) of any sale, lease, exchange or other transfer, in one transaction or a series of related transactions, of all, or substantially all, of the assets of the Company, other than any sale, lease, exchange or

  

 1 

 
other transfer to any Person or entity where the Company owns, directly or indirectly, at least 80% of the combined voting power of the Voting Securities of
such Person or entity or its parent corporation after any such transfer; or (v) any other event that the Continuing Directors determine to be a Change in Control; provided, however, that in the case of a transaction described in
(i), (iii) or (v), above, there shall not be a Change in Control if the shareholders of the Company immediately prior to any such transaction own (or continue to own by remaining outstanding or by being converted into Voting Securities of the
surviving entity or parent entity) more than 50% of the combined voting power of the Voting Securities of the Company, the surviving entity or any parent of either immediately following such transaction, in substantially the same proportion to each
other as prior to such transaction. 
 (h) Code:    The Internal Revenue Code of 1986, as amended,
or any successor thereto. 
 (i) Committee:    The Compensation Committee of the Board (or a
subcommittee thereof), or such other committee of the Board (including, without limitation, the full Board) to which the Board has delegated power to act under or pursuant to the provisions of the Plan. 
 (j) Company:    Ingersoll-Rand Company Limited, a Bermuda company and any successor thereto. 
 (k) Continuing Directors:    A director who either was a member of the Board on December 1, 2006 or who
became a member of the Board subsequent to such date and whose election, or nomination for election by the Company’s shareholders, was Duly Approved by the Continuing Directors on the Board at the time of such nomination or election, either by
a specific vote or by approval of the proxy statement issued by the Company on behalf of the Board in which such person is named as nominee for director, without due objection to such nomination, but excluding, for this purpose, any such individual
whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person or
entity other than the Board. 
 (l) Duly Approved by the Continuing Directors:    An action
approved by the vote of at least two-thirds of the Continuing Directors then on the Board. 
 (m) Effective
Date:    June 1, 2007. 
 (n) Fair Market Value:    On a given date,
(i) if there should be a public market for the Shares on such date, the average between the high and low price of the Shares as reported on such date on the Composite Tape of the principal national securities exchange on which such Shares are
listed or admitted to trading, or, if the Shares are not listed or admitted on any national securities exchange, the arithmetic mean of the per Share closing bid price and per Share closing asked price on such date as quoted on the National
Association of Securities Dealers Automated Quotation System (or such market in which such prices are regularly quoted) (the “NASDAQ”), or, if no sale of Shares shall have been reported on the Composite Tape of any national securities
exchange or quoted on the NASDAQ on such date, then the immediately preceding date on which sales of the Shares have been so reported or quoted shall be used, and (ii) if there should not be a public market for the Shares on such date, the Fair
Market Value shall be the value established by the Committee in good faith. 
 (o) Full Value
Awards:    Awards of Shares under the Plan (including any future grants of restricted stock or phantom stock) that are not awards of Options or Stock Appreciation Rights. 
 (p) ISO:    An Option that is also an incentive stock option granted pursuant to Section 6(d) of the Plan.

 (q) Option:    A stock option granted pursuant to Section 6 of the Plan. 
 (r) Option Price:    The purchase price per Share of an Option, as determined pursuant to Section 6(a) of
the Plan. 
 (s) Other Stock-Based Awards:    Awards granted pursuant to Section 8 of the
Plan. 
 (t) Participant:    An employee or director who is selected by the Committee to
participate in the Plan. 
  

 2 

 (u) Performance-Based Awards:    Certain Other Stock-Based
Awards granted pursuant to Section 8(b) of the Plan. 
 (v) Person:    A “person”,
as such term is used for purposes of Section 13(d) or 14(d) of the Act (or any successor section thereto), including any Affiliate or Associate of the Company. 
 (w) Plan:    The Ingersoll-Rand Company Limited Incentive Stock Plan of 2007, as from time to time amended and
then in effect. 
 (x) Shares:    Class A common shares of the Company. 
 (y) Stock Appreciation Right:    A stock appreciation right granted pursuant to Section 7 of the Plan.

 (z) Subsidiary:    A subsidiary corporation, as defined in Section 424(f) of the Code (or
any successor section thereto). 
 (aa) Voting Securities:    The outstanding securities entitled
to vote generally in election of directors. 
 3. Shares Subject to the Plan 
 Subject to Section 9, the total number of Shares which may be issued under the Plan is 27,000,000 and the maximum number of Shares
for which ISOs may be granted is 20% of the total number of Shares which may be issued under the Plan. For Awards granted prior to June 3, 2009, not more than 25% shall be in the form of Full Value Awards. With respect to Awards granted on or
after June 3, 2009, to the extent any Shares are granted as Full Value Awards, each such Share shall count as 2.05 Shares for purposes of the overall limit on Shares available for further grants under the Plan. The Shares may consist, in whole
or in part, of unissued Shares or treasury Shares. The actual issuance of Shares upon the exercise of an Award or in consideration of the cancellation or termination of an Award shall reduce the number of Shares available for grant
under the Plan (i) in the case of Awards granted on or after June 3, 2009, with a reduction of 2.05 Shares for every Share previously granted as a Full Value Award and a reduction of one Share for every Share previously granted as an Award
of Options or Stock Appreciation Rights and (ii) in the case of Awards granted prior to June 3, 2009, with a reduction of one Share for every Share previously granted as an Award. In the event all or any portion of an Award is terminated
or lapses without the payment of consideration, the number of Shares not issued that were originally deducted for such Award pursuant to this Section 3 shall be restored and may again be used for Awards under the Plan. In the
event that Shares are retained or are otherwise not issued by the Company in order to satisfy tax withholding obligations in connection with Full Value Awards (i.e. Awards other than Stock Options or Stock Appreciation Rights), the number of Shares
so retained or not issued that were originally deducted for such Award pursuant to this Section 3 shall be restored and may again be used for Awards under the Plan. Shares subject to an Award under the Plan may not be available again for issuance
under the Plan if such Shares are retained or otherwise not issued by the Company in order to satisfy tax withholding obligations in connection with Stock Options or Stock Appreciation Rights. 
 4. Administration 
 The Plan shall be administered by
the Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof consisting solely of at least two individuals who are intended to qualify as “Non-Employee Directors” within the meaning of Rule 16b-3
under the Act (or any successor rule thereto), “independent directors” within the meaning of The New York Stock Exchange’s listed company rules and “outside directors” within the meaning of Section 162(m) of the Code
(or any successor section thereto). Additionally, the Committee may delegate the authority to grant Awards under the Plan to any employee or group of employees of the Company or an Affiliate; provided, however, that such delegation and
grants are consistent with applicable law and guidelines established by the Committee from time to time. Awards may, in the discretion of the Committee, be made under the Plan in assumption of, or in substitution for, outstanding awards previously
granted by a company acquired by the Company or with which the Company and/or any of its Affiliates combines. The number of Shares underlying such substitute awards shall be counted against the aggregate number of Shares available for Awards under
the Plan. The Committee is authorized to interpret the 

  

 3 

 
Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make any other determinations that it deems necessary or
desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems necessary or desirable. Any decision of the
Committee in the interpretation and administration of the Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited to, Participants
and their beneficiaries or successors). The Committee shall have the full power and authority to establish the terms and conditions of any Award consistent with the provisions of the Plan and to waive any such terms and conditions at any time
(including, without limitation, accelerating or waiving any vesting conditions). The Committee shall require payment of any amount it may determine to be necessary for federal, state, local or other taxes as a result of the exercise, grant or
vesting of an Award. The Committee shall not be required to issue any Award under the Plan until such obligations described in the previous sentence have been satisfied in full. In no event shall the Committee cancel any outstanding Option or Stock
Appreciation Right for the purpose of reissuing such Option or Stock Appreciation Right to the Participant at a lower exercise price nor shall the Committee reduce the exercise price of an outstanding Option or Stock Appreciation Right. 

5. Limitations 
 No Award may be granted under the
Plan after the tenth anniversary of the Effective Date, but Awards theretofore granted may extend beyond that date. 
 6. Terms and Conditions of Options

 Options granted under the Plan shall be, as determined by the Committee, non-qualified or incentive stock options for United States
federal income tax purposes, as evidenced by the related Award letters, and shall be subject to the foregoing and the following terms and conditions and to such other terms and conditions, not inconsistent therewith, as the Committee shall
determine: 
 (a) Option Price.    The Option Price per Share shall be determined by the Committee,
but shall not be less than 100% of the Fair Market Value of a Share on the date an Option is granted (other than as described in Section 4). 
 (b) Exercisability.    Options granted under the Plan shall be exercisable at such time and upon such terms and conditions as may be determined by the Committee, but in no event shall an
Option be exercisable more than ten years after the date it is granted. 
 (c) Exercise of
Options.    Except as otherwise provided in the Plan or in an Award letter, an Option may be exercised for all, or from time to time any part, of the Shares for which it is then exercisable. For purposes of Section 6 of
the Plan, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company or its designee or administrative agent in the form and manner satisfactory to the Company and, if applicable, the date payment
is received by the Company or its designee or administrative agent in accordance with the following sentence. The purchase price for the Shares as to which an Option is exercised shall be paid to the Company as designated by the Committee, pursuant
to one or more of the following methods: (i) in cash or its equivalent (e.g., by personal check) or (ii) if there is a public market for the Shares underlying the Options at such time, through the delivery of irrevocable instructions to a
broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to the Company an amount out of the proceeds of such sale equal to the aggregate Option Price for the Shares being purchased. 
 (d) ISOs.    The Committee may grant Options under the Plan that are intended to be ISOs. Such ISOs shall
comply with the requirements of Section 422 of the Code (or any successor section thereto). No ISO may be granted to any Participant who at the time of such grant, owns more than ten percent of the total combined voting power of all classes of
stock of the Company or of any Subsidiary, unless (i) the Option Price for such ISO is at least 110% of the Fair Market Value of a Share on the date the ISO is granted and 

  

 4 

 
(ii) the date on which such ISO terminates is a date not later than the day preceding the fifth anniversary of the date on which the ISO is granted. Any
Participant who disposes of Shares acquired upon the exercise of an ISO either (A) within two years after the date of grant of such ISO or (B) within one year after the transfer of such Shares to the Participant, shall notify the Company
of such disposition and of the amount realized upon such disposition. All Options granted under the Plan are intended to be nonqualified stock options, unless the applicable Award letter expressly states that the Option is intended to be an ISO. If
an Option is intended to be an ISO, and if for any reason such Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a nonqualified stock option
granted under the Plan; provided that such Option (or portion thereof) otherwise complies with the Plan’s requirements relating to nonqualified stock options. In no event shall any member of the Committee, the Company or any of its
Affiliates (or their respective employees, officers or directors) have any liability to any Participant (or any other Person) due to the failure of an Option to qualify for any reason as an ISO. 
 (e) Rights with Respect to Shares.    No Participant shall have any rights to dividends or other rights of a
shareholder with respect to Shares subject to an Option until the Participant has given written notice of exercise of the Option, paid in full for such Shares and, if applicable, has satisfied any other conditions imposed by the Committee pursuant
to the Plan. 
 7. Terms and Conditions of Stock Appreciation Rights 
 (a) Grants.    The Committee may grant (i) a Stock Appreciation Right independent of an Option or
(ii) a Stock Appreciation Right in connection with an Option, or a portion thereof. A Stock Appreciation Right granted pursuant to clause (ii) of the preceding sentence (A) may only be granted at the time the related Option is
granted, (B) shall cover the same number of Shares covered by an Option (or such lesser number of Shares as the Committee may determine) and (C) shall be subject to the same terms and conditions as such Option except for such additional
limitations as are contemplated by this Section 7 (or such additional limitations as may be included in an Award letter). 
 (b) Terms.    The exercise price per Share of a Stock Appreciation Right shall be an amount determined by the Committee but in no event shall such amount be less than the Fair Market Value of a Share on the date
the Stock Appreciation Right is granted (other than as described in Section 4); provided, however, that in the case of a Stock Appreciation Right granted in conjunction with an Option, or a portion thereof, the exercise price may
not be less than the Option Price of the related Option. Each Stock Appreciation Right granted independent of an Option shall entitle a Participant upon exercise to a number of Shares equal to (1) an amount that is (i) the excess of
(A) the opening price of the Shares (as reported on the Composite Tape of the principal national securities exchange on which such shares are listed or admitted to trading) on the exercise date of one Share (the “Opening Price”) over
(B) the exercise price per Share, multiplied by (ii) the number of Shares covered by the Stock Appreciation Right, divided by (2) the Opening Price. Each Stock Appreciation Right granted in conjunction with an Option, or a portion
thereof, shall entitle a Participant to surrender to the Company the unexercised Option, or any portion thereof, and to receive from the Company in exchange therefore a number of Shares equal to (1) an amount that is (i) the excess of
(A) the Opening Price over (B) the Option Price per Share, multiplied by (ii) the number of Shares covered by the Option, or portion thereof, which is surrendered, divided by (2) the Opening Price. Payment shall be made in
Shares. Stock Appreciation Rights may be exercised from time to time upon actual receipt by the Company or its designee or administrative agent of written notice of exercise in the form and manner satisfactory to the Company stating the number of
Shares with respect to which the Stock Appreciation Right is being exercised. The date a notice of exercise is received by the Company shall be the exercise date. No fractional Shares will be issued in payment for Stock Appreciation Rights, but
instead the number of Shares will be rounded downward to the next whole Share. 
 (c)
Limitations.    The Committee may impose, in its discretion, such conditions regarding the exercisability of Stock Appreciation Rights as it may deem fit, but in no event shall a Stock Appreciation Right be exercisable more
than ten years after the date it is granted. 
  

 5 

 8. Other Stock-Based Awards 
 (a) Generally.    The Committee, in its sole discretion, may grant or sell Awards of Shares (including
(i) Awards of Shares in lieu of any incentive or variable compensation to which a Participant is entitled to from the Company or its Subsidiaries and (ii) Awards of Shares granted to non-employee directors as all or a part of their
retainer or other fees for services), Awards of restricted Shares and Awards that are valued in whole or in part by reference to, or are otherwise based on the Fair Market Value of, Shares (“Other Stock-Based Awards”). Such Other
Stock-Based Awards shall be in such form, and dependent on such conditions, as the Committee shall determine, including, without limitation, the right to receive, or vest with respect to, one or more Shares (or the equivalent cash value of such
Shares) upon the completion of a specified period of service, the occurrence of an event and/or the attainment of performance objectives. Other Stock-Based Awards may be granted alone or in addition to any other Awards granted under the Plan.
Subject to the provisions of the Plan, the Committee shall determine to whom and when Other Stock-Based Awards will be made, the number of Shares to be awarded under (or otherwise related to) such Other Stock-Based Awards, and all other terms and
conditions of such Awards (including, without limitation, the vesting provisions thereof and provisions ensuring that all Shares so awarded and issued shall be fully paid and non-assessable). 
 (b) Performance-Based Awards.    Notwithstanding anything to the contrary herein, certain Other Stock-Based
Awards, Options and Stock Appreciation Rights granted under this Section 8 may be granted in a manner which is intended to be deductible by the Company under Section 162(m) of the Code (or any successor section thereto)
(“Performance-Based Awards”). A Participant’s Performance-Based Award shall be determined based on the attainment of written performance goals approved by the Committee for a performance period established by the Committee
(i) while the outcome for that performance period is substantially uncertain and (ii) no more than 90 days after the commencement of the performance period to which the performance goal relates or, if less, the number of days which is
equal to 25 percent of the relevant performance period. The performance goals, which must be objective, shall be based upon one or more of the following criteria: (i) consolidated earnings before or after taxes (including earnings before
interest, taxes, depreciation and amortization); (ii) net income; (iii) operating income; (iv) earnings per Share; (v) book value per Share; (vi) return on shareholders’ equity; (vii) expense management;
(viii) return on invested capital; (ix) improvements in capital structure; (x) profitability of an identifiable business unit or product; (xi) maintenance or improvement of profit margins or revenue; (xii) stock price;
(xiii) market share; (xiv) revenues or sales; (xv) costs; (xvi) available cash flow; (xvii) working capital; (xviii) return on assets; (xix) total shareholder return, (xx) productivity ratios, and
(xxi) economic value added. In addition, to the degree consistent with Section 162(m) of the Code (or any successor section thereto), the performance goals may be calculated without regard to extraordinary items. The maximum amount of a
Performance-Based Award during a calendar year to any Participant shall be: (x) with respect to Performance-Based Awards that are Options or Stock Appreciation Rights, 750,000 Shares and (y) with respect to Performance-Based Awards that
are not Options or Stock Appreciation Rights, $10,000,000 on the date of the award. No Performance-Based Awards will be paid for a performance period until certification is made by the Committee that the criteria described in this Section 8(b)
has been attained. The amount of the Performance-Based Award actually paid to a given Participant may be less than (but not greater than) the amount determined by the applicable performance goal formula, at the discretion of the Committee. The
amount of the Performance-Based Award determined by the Committee for a performance period shall be paid to the Participant at such time as determined by the Committee in its sole discretion after the end of such performance period; provided,
however, that a Participant may, if and to the extent permitted by the Committee and consistent with the provisions of Sections 162(m) and 409A of the Code, elect to defer payment of a Performance-Based Award. 
  

 6 

 9. Adjustments Upon Certain Events 
 Notwithstanding any other provisions in the Plan to the contrary (except for Section 17), the following provisions shall apply to all Awards granted under the Plan: 
 (a) Generally.    In the event of any change in the outstanding Shares after the Effective Date by reason of
any reorganization, recapitalization, merger, consolidation, spin-off, combination, combination or transaction or exchange of Shares or other corporate exchange, or any distribution to shareholders of Shares other than regular cash dividends or any
transaction similar to the foregoing, the Committee in its sole discretion and without liability to any person shall make such substitution or adjustment, if any, as it deems to be equitable (subject to Section 17), as to (i) the number or
kind of Shares or other securities issued or reserved for issuance pursuant to the Plan or pursuant to outstanding Awards, (ii) the maximum number of Shares for which Options or Stock Appreciation Rights may be granted during a calendar year to
any Participant (iii) the maximum amount of a Performance-Based Award that may be granted during a calendar year to any Participant, (iv) the Option Price or exercise price of any stock appreciation right and/or (v) any other affected
terms of such Awards. In the event of any change in the outstanding Shares after the Effective Date by reason of any stock split (forward or reverse) or any stock dividend, all adjustments described in the preceding sentence shall occur
automatically in accordance with the ratio of the stock split or stock dividend, unless otherwise determined by the Committee. 
 (b) Change in Control.    The provisions of this Section 9(b) shall apply in the event of a Change in Control, unless otherwise determined by the Committee in connection with the grant of an Award as
reflected in the applicable Award letter. 
 (i) All outstanding Options and Stock Appreciation Rights shall become
immediately vested and exercisable; 
 (ii) All Other Stock-Based Awards shall become immediately vested and payable; and

 (iii) The performance period applicable to Performance-Based Awards shall lapse and the performance goals associated with
such awards shall be deemed to have been met at their target level. 
 Notwithstanding the foregoing, the Committee may (subject to
Section 17), in its sole discretion, but shall not be obligated to, (A) cancel such Awards for fair value (as determined in the sole discretion of the Committee) which, in the case of Options and Stock Appreciation Rights, shall equal the
excess, if any, of value of the consideration to be paid in the Change in Control transaction to holders of the same number of Shares subject to such Options or Stock Appreciation Rights (or, if no consideration is paid in any such transaction, the
Fair Market Value of the Shares subject to such Options or Stock Appreciation Rights) over the aggregate exercise price of such Options or Stock Appreciation Rights, (B) provide for the issuance of substitute awards that will substantially
preserve the otherwise applicable terms of any affected Awards previously granted hereunder as determined by the Committee in its sole discretion or (C) provide that for a period of at least 15 days prior to the Change in Control, such Options
and Stock Appreciation Rights shall be exercisable as to all shares subject thereto and that upon the occurrence of the Change in Control, such Options and Stock Appreciation Rights shall terminate and be of no further force and effect. 

10. No Right to Employment or Awards 
 The granting
of an Award under the Plan shall impose no obligation on the Company or any Affiliate to continue the employment or service of a Participant and shall not lessen or affect the Company’s or Affiliate’s right to terminate the employment or
service of such Participant. No Participant or other Person shall have any claim to be granted any Award, and there is no obligation for uniformity of treatment of Participants, or holders or beneficiaries of Awards. The terms and conditions of
Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participants are similarly situated). 
  

 7 

 11. Successors and Assigns 
 The Plan shall be binding on all successors and assigns of the Company and a Participant, including without limitation, the estate of such Participant and the executor, administrator or trustee of such estate, or any
receiver or trustee in bankruptcy or representative of the Participant’s creditors. 
 12. Nontransferability of Awards 
 Unless otherwise determined by the Committee, an Award shall not be transferable or assignable by the Participant otherwise than by will or by the laws of
descent and distribution. An Award exercisable after the death of a Participant may be exercised by the legatees, personal representatives or distributees of the Participant. 
 13. Amendments or Termination 
 The Board may amend, alter or discontinue the Plan, but no amendment,
alteration or discontinuation shall be made, (a) without the approval of the shareholders of the Company, if such action would (except as is provided in Section 9 of the Plan), increase the total number of Shares reserved for the purposes
of the Plan or change the maximum number of Shares for which Awards may be granted to any Participant or (b) without the consent of a Participant, if such action would diminish any of the rights of the Participant under any Award theretofore
granted to such Participant under the Plan; provided, however, that the Committee may amend the Plan in such manner as it deems necessary to permit the granting of Awards meeting the requirements of the Code or other applicable laws
(including, without limitation, to avoid adverse tax consequences to the Company or to Participants). 
 14. International Participants 
 With respect to Participants who reside or work outside the United States of America and who are not (and who are not expected to be) “covered
employees” within the meaning of Section 162(m) of the Code, the Committee may, in its sole discretion, amend the terms of the Plan or Awards with respect to such Participants in order to conform such terms with the requirements of local
law or to obtain more favorable tax or other treatment for a Participant, the Company or an Affiliate. 
 15. Choice of Law 
 The Plan shall be governed by and construed in accordance with the laws of the State of New Jersey without regard to conflicts of laws. 
 16. Effectiveness of the Plan 
 The Plan shall be
effective as of the Effective Date, subject to the approval of the shareholders of the Company. 
 17. Section 409A 
 Notwithstanding other provisions of the Plan or any Award letter thereunder, no Award shall be granted, deferred, accelerated, extended, paid out or
modified under this Plan in a manner that would result in the imposition of an additional tax under Section 409A of the Code upon a Participant. In the event that it is reasonably determined by the Committee that, as a result of
Section 409A of the Code, payments in respect of any Award under the Plan may not be made at the time contemplated by the terms of the Plan or the relevant Award letter, as the case may be, without causing the Participant holding such Award to
be subject to taxation under Section 409A of the Code, the Company will make such payment on the first day that would not result in the Participant incurring any tax liability under Section 409A of the Code. 
  

 8 

 Without limiting the generality of the foregoing, to the extent applicable, notwithstanding anything
herein to the contrary, this Plan and Awards issued hereunder shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretative guidance issued thereunder, including without
limitation any such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that the Committee determines that any amounts payable hereunder will be taxable
to a Participant under Section 409A of the Code and related Department of Treasury guidance prior to payment to such Participant of such amount, the Company may (a) adopt such amendments to the Plan and Awards and appropriate policies and
procedures, including amendments and policies with retroactive effect, that the Committee determines necessary or appropriate to preserve the intended tax treatment of the benefits provided by the Plan and Awards hereunder and/or (b) take such
other actions as the Committee determines necessary or appropriate to avoid the imposition of an additional tax under Section 409A of the Code. 
  

 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]