Document:

EX-10.3

 Exhibit 10.3 

FORM OF 
 EMPLOYEE
MATTERS AGREEMENT 
 by and between 

DOVER CORPORATION 
 and

 KNOWLES CORPORATION 

Dated as of [    ], [            ] 

 EMPLOYEE MATTERS AGREEMENT 

THIS EMPLOYEE MATTERS AGREEMENT (this “Agreement”), is entered into as of
[            ], by and between Dover Corporation, a Delaware corporation (“Dover”), and Knowles Corporation, a Delaware corporation (“Knowles” and together with Dover,
the “Parties” and each a “Party”). 
 WHEREAS, the board of directors of Dover has determined that it is in the best
interests of Dover and its shareholders to create a new publicly traded company which shall operate the Knowles Business; 
 WHEREAS, in
furtherance thereof Dover and Knowles have entered into that certain Separation and Distribution Agreement dated [            ] (the “Separation Agreement”); and 

WHEREAS, as contemplated by the Separation Agreement, Dover and Knowles desire to enter into this Agreement to provide for the allocation of
Assets, Liabilities, and responsibilities with respect to certain matters relating to employees (including employee compensation and benefit plans and programs) between them. 

NOW, THEREFORE, the Parties, intending to be legally bound, agree as follows: 

ARTICLE I 
 DEFINITIONS 

Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Separation Agreement. For purposes of this
Agreement the following terms shall have the following meanings: 
 1.1 “Adjusted Dover Option” shall have the meaning set forth
in Section 5.2(a). 
 1.2 “Adjusted Dover RSU” shall have the meaning set forth in Section 5.3(a). 

1.3 “Adjusted Stock Appreciation Right” shall have the meaning set forth in Section 5.2(a). 

1.4 “Assets” shall have the meaning set forth in the Separation Agreement. 

1.5 “COBRA” means the continuation coverage requirements for “group health plans” under Title X of the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended, and as codified in Code Section 4980B and ERISA Sections 601 through 608. 
 1.6
“Code” means the Internal Revenue Code of 1986, as amended, or any successor federal income tax law. Reference to a specific Code provision also includes any proposed, temporary, or final regulation in force under that provision. 

1.7 “Distribution Date” shall have the meaning set forth in the Separation Agreement. 

 1.8 “Dover 401(k) Plan” means the Dover Corporation Retirement Savings Plan. 

1.9 “Dover Deferred Compensation Plan” means the Dover Corporation Deferred Compensation Plan, as amended and restated as of
January 1, 2009. 
 1.10 “Dover Employee” means (i) any individual who, as of the applicable date of determination, is
either actively employed by or then on a leave of absence from any member of the Dover Group (including maternity, paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment
and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves), but does not include any Knowles Employee or (ii) any individual who is deemed to be a Dover Employee pursuant to Section 2.3 of
this Agreement. 
 1.11 “Dover Equity-Based Plans” means the 2012 Equity and Cash Incentive Plan, the 2005 Equity and Cash
Incentive Plan, and the 1995 Incentive Stock Options Plan, each as amended from time to time. 
 1.12 “Dover Group” shall have the
meaning set forth in the Separation Agreement. 
 1.13 “Dover Participant” means any individual who is a Dover Employee, a Former
Dover Employee or a beneficiary, dependent, alternate payee or other person participating in a Dover Plan in respect of either of the foregoing. 

1.14 “Dover Pension Replacement Plan” means the Dover Corporation Pension Replacement Plan, as amended and restated as of
January 1, 2010. 
 1.15 “Dover Ratio” shall have the meaning set forth in Section 5.2(a)(i). 

1.16 “Dover U.S. Pension Plan” means the Dover Corporation Pension Plan, a United States defined benefit pension plan. 

1.17 “Effective Time” means 11:59 p.m., New York City, New York time, on the Distribution Date. 

1.18 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. Reference to a specific provision of ERISA also
includes any proposed, temporary, or final regulation in force under that provision. 
 1.19 “Former Dover Employee” means, as of
the applicable date of determination, any individual whose employment with either Party or any of its respective Subsidiaries and Affiliates terminated for any reason before such applicable date, other than a Former Knowles Employee. 

1.20 “Former Employee” means any individual who is a Former Dover Employee or a Former Knowles Employee. 

1.21 “Former Knowles Employee” means, as of the applicable date of determination, any individual whose employment with either Party
or any of its respective Subsidiaries and Affiliates terminated for any reason before such applicable date, and who primarily worked for a Knowles Business at the time of his or her termination of employment. 

  
 2 

 1.22 “Health and Welfare Plans,” when immediately preceded by “Dover,” means
the health and welfare plans established and sponsored by any member of the Dover Group, and when immediately preceded by “Knowles,” means the health and welfare plans sponsored and maintained by any member of the Knowles Group before or
after the Plan Separation Date, in each case excluding any governmental plans. 
 1.23 “HIPAA” means the health insurance
portability and accountability requirements for “group health plans” under the Health Insurance Portability and Accountability Act of 1996, as amended. 

1.24 “Incentive Stock Option” means an option which qualifies as an incentive stock option under the provisions of Section 422
of the Code. 
 1.25 “Individual Agreement” means an individual employment Contract entered into between a member of the Dover
Group and a Knowles Employee. 
 1.26 “Knowles 401(k) Plan” means the Knowles Corporation 401(k) Plan, a tax-qualified 401(k)
defined contribution savings plan to be established by a member of the Knowles Group prior to the Plan Separation Date. 
 1.27
“Knowles Employee” means (i) any individual who, as of the applicable date of determination, is either actively employed by or then on a leave of absence from any member of the Knowles Group (including maternity, paternity, family,
sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves) or (ii) any
individual who is deemed to be a Knowles Employee pursuant to Section 2.2 of this Agreement. 
 1.28 “Knowles Group” shall
have the meaning set forth in the Separation Agreement. 
 1.29 “Knowles Long Term Incentive Plan” means the Knowles Corporation
2014 Equity and Cash Incentive Plan adopted by Knowles prior to the Effective Time. 
 1.30 “Knowles Participant” means any
individual who is a Knowles Employee, a Former Knowles Employee or a beneficiary, dependent, alternate payee or other person participating in a Knowles Plan in respect of either of the foregoing. 

1.31 “Knowles Ratio” shall have the meaning set forth in Section 5.2(b)(i). 

1.32 “Liabilities” shall have the meaning set forth in the Separation Agreement. 

1.33 “Local Agreement” means any local transfer agreement that provides for the transfer of Assets and the assumption of Liabilities
relating to, arising out of or resulting from the transactions contemplated by the Separation Agreement. 

  
 3 

 1.34 “Option” when immediately preceded by “Dover,” means an option (either
nonqualified or an Incentive Stock Option) to purchase shares of Dover Common Stock pursuant to a Dover Equity-Based Plan and, when immediately preceded by “Knowles,” means an option to purchase shares of Knowles Common Stock, which option
is granted pursuant to the Knowles Long Term Incentive Plan as set forth in Section 5.2. 
 1.35 “Participating Company”
means (a) Dover, (b) any Person (other than an individual) that Dover has approved for participation in, and which is a participating employer in, a Plan and (c) any Person (other than an individual) which, by the terms of such a
Plan, is a participating employer in such Plan. 
 1.36 “Plan,” when immediately preceded by “Dover,” means any plan,
policy, program, payroll practice, on-going arrangement, Contract, trust, insurance policy or other agreement or funding vehicle (including a Health and Welfare Plan) for which the eligible classes of participants include employees or former
employees (and their eligible dependents) of a member of the Dover Group or, prior to the Plan Separation Date only, a member of the Knowles Group, and when immediately preceded by “Knowles,” means any plan, policy, program, payroll
practice, on-going arrangement, Contract, trust, insurance policy or other agreement or funding vehicle (including a Health and Welfare Plan) for which the eligible classes of participants are limited to employees or former employees (and their
eligible dependents) of members of the Knowles Group. 
 1.37 “Plan Separation Date” means December 31, 2013, or such other
date as determined by Dover. 
 1.38 “Post-Distribution Price” with respect to a share of common stock, means the average closing
price for such common stock for the five (5) consecutive trading days immediately following the Distribution Date. 
 1.39
“Pre-Distribution Price” with respect to a share of common stock, means the average closing price for such common stock trading on the “regular way” basis on the New York Stock Exchange for the five (5) consecutive trading
days immediately preceding (and including) the Distribution Date. 
 1.40 “Restricted Stock Unit,” when immediately preceded by
“Dover,” means a unit granted or provided by Dover pursuant to a Dover Equity-Based Plan or the Dover Deferred Compensation Plan, representing a general unsecured promise by Dover to deliver a share (or cash in respect of a share) of Dover
Common Stock, and when immediately preceded by “Knowles,” means a unit granted by Knowles representing a general unsecured promise by Knowles to deliver a share of Knowles Common Stock, which unit is granted pursuant to the Knowles Long
Term Incentive Plan as set forth in Section 5.3. 
 1.41 “Stock Appreciation Right,” when immediately preceded by
“Dover,” means a right to receive a payment in shares of Dover Common Stock equal in value to the increase in value in shares of Dover Common Stock over a designated strike price pursuant to a Dover Equity-Based Plan and, when immediately
preceded by “Knowles,” means a right to receive a payment in shares of Knowles Common Stock equal in value to the increase in value in shares of Knowles Common Stock over a designated strike price, which right is granted pursuant to the
Knowles Long Term Incentive Plan as set forth in Section 5.2. 

  
 4 

 ARTICLE II 

TRANSFER OF KNOWLES EMPLOYEES; GENERAL PRINCIPLES 

2.1 In General. All provisions herein shall be subject to the requirements of all applicable Law and any collective bargaining, works
council or similar Contract or arrangement with any labor union. The provisions of this Agreement shall apply in respect of all jurisdictions wherever situated in accordance with applicable Law. Notwithstanding the immediately preceding sentence, to
the extent the provisions of this Agreement conflict with the provisions of a Local Agreement or, in respect of jurisdictions outside of the United States, with the terms of an offer letter or other Contract entered into with a Knowles Employee or a
Dover Employee, the terms of such Local Agreement, offer letter or other Contract shall govern. 
 2.2 Transfer of Employment of Certain
Knowles Employees. Dover and Knowles will use reasonable efforts to cause the employment of any individual who Dover designates as a Knowles Employee and who is not employed by the Knowles Group as of the Plan Separation Date to be transferred
to the Knowles Group prior to the Effective Time. Each such individual shall be deemed to be a Knowles Employee and the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the compensation and
benefits of such individuals following such transfer. 
 2.3 Transfer of Employment of Certain Dover Employees. Dover and Knowles
will use reasonable efforts to cause the employment of any individual who Dover designates as a Dover Employee and who is not employed by the Dover Group as of the Plan Separation Date to be transferred to the Dover Group prior to the Effective
Time. Each such individual shall be deemed to be a Dover Employee and the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the compensation and benefits of such individuals following such
transfer. 
 2.4 Assumption and Retention of Liabilities. 

(a) Dover and Knowles intend that employment-related Liabilities associated with Knowles Participants are to be assumed by Knowles or another
member of the Knowles Group, except as specifically set forth herein. Except as expressly provided in this Agreement, as of the Effective Time, Knowles or another member of the Knowles Group hereby retains or assumes and agrees to pay, perform,
fulfill, and discharge (i) all Liabilities arising under or related to Knowles Plans, (ii) all employment or service-related Liabilities with respect to (A) all Knowles Participants as of the Effective Time and (B) any individual
who is, or was, an independent contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other employment or similar
relationship primarily connected to a member of the Knowles Group, (iii) all Liabilities retained or assumed by Knowles or a member of the Knowles Group pursuant to the terms of the Local Agreements and (iv) all Liabilities expressly
transferred to a member of the Knowles Group under this Agreement. 

  
 5 

 (b) Dover and Knowles intend that employment-related Liabilities associated with Dover
Participants are to be assumed by Dover or another member of the Dover Group, except as specifically set forth herein. Except as expressly provided in this Agreement, as of the Effective Time, Dover or another member of the Dover Group hereby
retains or assumes and agrees to pay, perform, fulfill, and discharge (i) all Liabilities arising under or related to Dover Plans, (ii) all employment or service-related Liabilities with respect to (A) all Dover Participants as of the
Effective Time and (B) any individual who is, or was, an independent contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or
in any other employment or similar relationship primarily connected to a member of the Dover Group, (iii) all Liabilities retained or assumed by Dover or a member of the Dover Group pursuant to the terms of the Local Agreements and
(iv) all Liabilities expressly transferred to a member of the Dover Group under this Agreement. 
 (c) All Liabilities retained or
assumed by or allocated to (i) Knowles or any member of the Knowles Group pursuant to this Agreement shall be deemed to be Knowles Liabilities for purposes of Article VIII (and related sections) of the Separation Agreement and (ii) Dover
or any member of the Dover Group pursuant to this Agreement shall be deemed to be Dover Liabilities for purposes of Article VIII (and related sections) of the Separation Agreement. 

2.5 Assumption of Employee Liabilities. Knowles shall assume and be solely responsible for the administration of severance, indemnity
or other termination pay or other similar benefits in accordance with the terms and conditions of the applicable severance plan or policy in effect as of the date of the applicable termination of employment (i) relating to or resulting from
(A) the Knowles Group’s failure to offer employment to any Knowles Employee (or failure to continue the employment of any Knowles Employee following the Plan Separation Date), (B) the Knowles Group’s failure to offer or continue
employment on terms and conditions which would preclude any claims of constructive dismissal or similar claims under any applicable Law or (C) any failure by the Knowles Group to comply with the terms of this Agreement prior to the Effective
Date or (ii) where such severance, indemnity or termination pay or other benefits are required to be paid under applicable Law or a Plan upon the applicable date of the employee’s transfer without regard to such terms and conditions or
such continuation of employment. 
 2.6 Cessation as Participating Companies. Effective as of the Plan Separation Date, (i) each
member of the Knowles Group shall have ceased to be Participating Companies in any Dover Plan, (ii) each member of the Dover Group shall have ceased to be Participating Companies in any Knowles Plan and (iii) Dover and Knowles shall have
taken all necessary action to effectuate such cessations as Participating Companies. 
 2.7 No Duplication of Benefits; Service and Other
Credit. Dover and Knowles shall have adopted, or caused to have been adopted, all reasonable and necessary amendments and procedures to prevent Knowles Participants from receiving duplicative benefits from the Dover Plans and the Knowles Plans.
With respect to Knowles Participants, each Knowles Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to 

  
 6 

 
benefits (but not for accrual of pension benefits under any defined benefit pension plan), service prior to the Plan Separation Date with a member of the Dover Group shall be treated as service
with a member of the Knowles Group. The Parties shall use their reasonable efforts so that such service also shall apply for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting
condition limitations under any Knowles Plan. Each Knowles Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to Knowles Participants. Knowles shall use reasonable efforts to honor any deductible, co-payment
and out-of-pocket maximums incurred by the Knowles Participants under the Dover Plans in which they participated immediately prior to the Plan Separation Date, if any, in satisfying any deductibles, co-payments or out-of-pocket maximums under the
Knowles Plans in which they are eligible to participate after the Plan Separation Date in the same plan year in which any such deductibles, co-payments or out-of-pocket maximums were incurred. 

2.8 Reimbursements. From time to time after the Effective Time, the Parties shall promptly reimburse one another, upon reasonable
request of the Party requesting reimbursement and the presentation by such Party of such substantiating documentation as the other Party shall reasonably request, for the cost of any Liabilities satisfied or assumed by the Party requesting
reimbursement or its Affiliates that are made, pursuant to this Agreement, the responsibility of the other Party or any of its Affiliates. 

2.9 Labor Relations. To the extent required by applicable Law or any Contract or arrangement with a labor union, works council or
similar employee organization, Knowles shall provide notice, engage in consultation and take any similar action which may be required on its part in connection with the Distribution and shall fully indemnify each member of the Dover Group against
any Liabilities arising from its failure to comply with such requirements. 
 ARTICLE III 

DEFINED CONTRIBUTION, DEFINED BENEFIT AND NON-QUALIFIED DEFERRED 

COMPENSATION PLANS IN THE UNITED STATES 

3.1 Defined Contribution Plan. 

(a) Establishment of Plan and Trust. Prior to the Plan Separation Date, Dover and Knowles shall have adopted, or caused to have been
adopted, the Knowles 401(k) Plan and any trust agreements or other plan documents reasonably necessary and shall have caused trustees to be appointed for such plan. 

(b) Assumption of Liabilities and Transfer of Assets. In accordance with applicable Law, Dover and Knowles shall have caused, in the
manner described herein, the accounts under the Dover 401(k) Plan of each Knowles Employee to be transferred to the Knowles 401(k) Plan as of the Plan Separation Date or as soon as practicable thereafter. As of the Plan Separation Date:
(i) Dover shall have used reasonable efforts to cause the accounts (including any outstanding loan balances) of each Knowles Employee as of such date and in the Dover 401(k) Plan to be transferred to the Knowles 401(k) Plan and its related
trust; (ii) the Knowles 401(k) Plan shall have used reasonable efforts to assume and be solely responsible for all Liabilities under the 

  
 7 

 
Knowles 401(k) Plan relating to the accounts that are so transferred as of the time of such transfer; and (iii) Knowles shall have used reasonable efforts to cause such transferred accounts
to be accepted by the Knowles 401(k) Plan and its related trust and shall have caused the Knowles 401(k) Plan to satisfy all protected benefit requirements under the Code and applicable Law with respect to the transferred accounts. 

(c) Service Credit. In determining whether a Knowles Employee is vested in his or her account under the Knowles 401(k) Plan, the
Knowles 401(k) Plan shall have credited each Knowles Employee with all the individual’s service credited under the Dover 401(k) Plan. 

(d) Employer Securities. Dover and Knowles each presently intend to preserve the right of Dover Participants and Knowles Participants
to receive distributions in kind of employer securities from, respectively, the Dover 401(k) Plan and the Knowles 401(k) Plan, if, and to the extent, investments under such plans are comprised of Knowles Common Stock or Dover Common Stock;
provided, that, Dover shall cause the Dover 401(k) Plan to provide that, no later than eighteen (18) months following the Distribution Date, the Dover 401(k) Plan shall hold no separate investment fund comprised of Knowles Common
Stock and Knowles shall cause the Knowles 401(k) Plan to provide that, no later than eighteen (18) months following the Distribution Date, the Knowles 401(k) Plan shall not hold a separate investment fund comprised of Dover Common Stock. Each
of Knowles and Dover shall authorize the appropriate plan fiduciary to determine, in its discretion, the extent to which and when Dover Common Stock (in the case of the Knowles 401(k) Plan) and Knowles Common Stock (in the case of the Dover 401(k)
Plan) shall cease to be investment alternatives thereunder. 
 3.2 U.S. Defined Benefit Pension Plan. Dover shall retain and be
solely responsible for all Liabilities and obligations with respect to Knowles Participants under the Dover U.S. Pension Plan, and accordingly there shall be no transfer of Assets or Liabilities among Dover, Knowles, any of their Affiliates or their
respective plans in respect of the Dover U.S. Pension Plan. No Knowles Participant shall accrue any additional benefits under the Dover U.S. Pension Plan following the Plan Separation Date. Effective as of the Plan Separation Date, each Knowles
Participant who participates in the Dover U.S. Pension Plan shall become 100% vested in all benefits provided under such plan. 
 3.3
Non-Qualified Deferred Compensation Plans. No Knowles Participant shall accrue any additional benefits under the Dover Pension Replacement Plan or defer any compensation under the Dover Deferred Compensation Plan, in each case, attributable
to services performed on or after January 1, 2014. For the avoidance of doubt, the account balance of each Knowles Participant under the Dover Deferred Compensation Plan shall continue to change based on the Knowles Participant’s
individual investment elections. Effective as of the Plan Separation Date, Knowles shall assume all Dover Pension Replacement Plan Liabilities and the Dover Deferred Compensation Plan Liabilities with respect to each Knowles Employee who
participates in such plans. The treatment of benefits under each nonqualified deferred compensation plan shall comply with Section 409A of the Code, to the extent subject thereto. 

  
 8 

 ARTICLE IV 

HEALTH AND WELFARE PLANS 
 4.1
Cessation of Participation in Dover Health and Welfare Plans. Prior to the Plan Separation Date, Dover shall have caused Knowles to establish Knowles Health and Welfare Plans which generally correspond to the Dover Health and Welfare Plans
which provide group health, life, dental, accidental death and dismemberment, health care reimbursements, dependent care assistance and disability benefits in which certain Knowles Participants participated immediately prior to the Plan Separation
Date. As of the Plan Separation Date, such Knowles Participants shall have ceased to participate in the Dover Health and Welfare Plans in which they participated and shall have commenced participation in the corresponding Knowles Health and Welfare
Plan. Knowles shall have caused those Knowles Participants who participate in Dover Health and Welfare Plans immediately before the Plan Separation Date to be automatically enrolled as of the Plan Separation Date in Knowles Health and Welfare Plans
corresponding to the Dover Health and Welfare Plans in which such Knowles Participants participated immediately before the Plan Separation Date. The transfer of employment from a member of the Dover Group to a member of the Knowles Group prior to or
as of the Effective Time shall not be treated as a “status change” with respect to any Knowles Employee under the Dover Health and Welfare Plans or the Knowles Health and Welfare Plans. 

4.2 Allocation of Health and Welfare Plan Liabilities. 

(a) Except as set forth in Section 4.2(b), Dover shall retain and be solely responsible for all outstanding Liabilities relating to,
arising out of, or resulting from health and welfare coverage or claims incurred by Knowles Participants under the Dover Health and Welfare Plans on or before the Plan Separation Date. 

(b) Knowles shall assume and be solely responsible for any outstanding Liabilities relating to, arising out of, or resulting from short-term
disability coverage for Knowles Participants under the Dover Health and Welfare Plans on or before the Plan Separation Date. 
 4.3
Flexible Spending Plan Treatment in the United States. Prior to the Plan Separation Date, Dover shall have caused Knowles to establish a dependent care spending account and a medical care spending account under a cafeteria plan meeting the
requirements of Section 125 of the Code (the “Knowles FSAs”) effective as of the Plan Separation Date, which Knowles FSAs have terms that are substantially identical to the analogous Dover cafeteria plan, dependent care and
medical care flexible spending accounts (the “Dover FSAs”) as in effect immediately prior to the Plan Separation Date. Knowles and Dover shall have taken all steps necessary or appropriate so that the account balances (if any) under
the Dover FSAs of each Knowles Employee who elected to participate therein shall have been transferred, as soon as practicable after the Plan Separation Date from the Dover FSAs to the corresponding Knowles FSAs. The Knowles FSAs shall have assumed
responsibility as of the Plan Separation Date for all outstanding dependent care and medical care claims under the Dover FSAs of each Knowles Employee and shall have assumed and agreed to perform the obligations from and after the Plan Separation
Date. Knowles shall have taken all steps necessary or appropriate so that the contribution elections of each such Knowles Employee as in effect immediately before the Plan Separation Date (if any) remain in effect under the Knowles FSAs following
the Plan Separation Date. As soon as practicable after 

  
 9 

 
the Plan Separation Date, Dover shall have transferred to Knowles an amount equal to the total contributions made to the Dover FSAs by Knowles Employees in respect of the plan year in which the
Effective Time occurs, reduced by an amount equal to the total claims already paid to Knowles in respect of such plan year, if any. From and after the Plan Separation Date, Dover shall provide Knowles with such information such entity may reasonably
request to enable it to verify any claims information pertaining to a Dover FSA. 
 4.4 Workers’ Compensation Liabilities. All
workers’ compensation Liabilities relating to, arising out of, or resulting from any claim by Knowles Employees or Former Knowles Employees that result from an accident or from an occupational disease which is incurred or becomes manifest, as
the case may be, on or before the Effective Time and while such individual was employed by either Party or its respective Affiliates or Subsidiaries shall be assumed, or retained as the case may be, by Knowles as of the Effective Time. Each member
of the Knowles Group shall also be solely responsible for all workers’ compensation Liabilities relating to, arising out of, or resulting from any claim incurred for a compensable injury sustained by a Knowles Employee or Former Knowles
Employee that results from an accident or from an occupational disease which is incurred or becomes manifest, as the case may be, after the Effective Time. Each member of the Dover Group and the Knowles Group shall cooperate with respect to any
notification to appropriate governmental agencies of the disposition and the issuance of new, or the transfer of existing, workers’ compensation insurance policies and claims handling contracts. 

4.5 Payroll Taxes and Reporting. Dover and Knowles shall, to the extent practicable, (i) treat Knowles (or a member of the Knowles
Group designated by Knowles) as a “successor employer” and Dover (or the appropriate member of the Dover Group) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Knowles
Employees for purposes of Taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each other to avoid, to the extent possible, the filing of more than
one IRS Form W-2 with respect to each Knowles Employee for the year in which the Effective Time occurs. Without limiting in any manner the obligations and Liabilities of the Parties under the Tax Matters Agreement, each member of the Dover Group and
each member of the Knowles Group shall each bear its responsibility for payroll Tax obligations and for the proper reporting to the appropriate Governmental Entities of compensation earned by their respective employees after the Effective Time,
including compensation related to the exercise of Options or the vesting or exercise of other equity awards. 
 4.6 COBRA and HIPAA
Compliance in the United States. As of the Plan Separation Date, Knowles shall have assumed and be responsible for administering compliance with the health care continuation requirements of COBRA and the certificate of creditable coverage
requirements of HIPAA, in accordance with the provisions of the Knowles Health and Welfare Plans, with respect to Knowles Participants who incurred a COBRA qualifying event or loss of coverage under the Dover Health and Welfare Plans at any time on
or before the Plan Separation Date. Knowles shall also be responsible for administering compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding
provisions of the Knowles Health and Welfare Plans with respect to Knowles Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the Knowles Health and Welfare Plans at any time after the Plan Separation
Date. 

  
 10 

 4.7 Vacation and Paid Time Off. As of the Plan Separation Date, the applicable member of
the Knowles Group shall have credited each Knowles Employee with the unused vacation days and personal and sickness days that such individual has accrued immediately prior to the Plan Separation Date (not previously paid or required to be paid) in
accordance with the vacation and personnel policies applicable to such employee immediately prior to the Plan Separation Date. 
 ARTICLE V

 INCENTIVE COMPENSATION, EQUITY COMPENSATION AND OTHER BENEFITS 

5.1 Cash-Based Incentives. 

(a) Annual Cash Incentives and Commissions. At the regularly scheduled payment date, Knowles shall pay each Knowles Employee, and
Dover shall pay each Dover Employee, who is participating in an annual cash incentive bonus or commission program of a member of the Dover Group such Knowles Employee’s and such Dover Employee’s (as applicable) annual incentive bonus or
commission under the applicable plan, based on actual performance for 2013. 
 (b) 2013 Long-term Cash Incentives. At the regularly
scheduled payment date, Knowles shall pay each Knowles Employee, and Dover shall pay each Dover Employee, who is participating in Dover’s long-term cash incentive program that relates to a performance period ending on or before
December 31, 2013 such Knowles Employee’s and such Dover Employee’s (as applicable) incentive award under such program, based on actual performance. 

(c) Long-term Cash Incentives. Each Dover long-term cash incentive award that is held by a Knowles Employee with a performance period
that extends beyond the Effective Time will be canceled and forfeited as of the Effective Time. 
 5.2 Stock Options and Stock
Appreciation Rights. 
 (a) Dover Options and Stock Appreciation Rights. Each Dover Option and Dover Stock Appreciation Right
that is outstanding immediately prior to the Effective Time and that is held by a Dover Employee or a Former Employee shall be adjusted as of the Effective Time (and shall thereafter be referred to as an “Adjusted Dover Option” or
“Adjusted Stock Appreciation Right”) as follows: 
 (i) The number of shares of Dover Common Stock subject
to each Adjusted Dover Option and each Adjusted Stock Appreciation Right shall be equal to the product (rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the
corresponding Dover Option or Dover Stock Appreciation Right immediately prior to the Effective Time and (B) a fraction, the numerator of which is the Pre-Distribution Price of a share of Dover Common Stock and the denominator which is the
Post-Distribution Price of a share of Dover Common Stock (such fraction, the “Dover Ratio”). 

  
 11 

 (ii) The exercise price per share for each Adjusted Dover Option and the base
price per share for each Adjusted Stock Appreciation Right shall be equal to (rounded up to the nearest whole cent) (A) the exercise price or base price (as the case may be) of the corresponding Dover Option or Dover Stock Appreciation Right
immediately prior to the Effective Time divided by (B) the Dover Ratio. 
 (iii) Each Adjusted Dover Option and
Adjusted Stock Appreciation Right shall otherwise be subject to the same terms, vesting conditions, exercise procedures, expiration dates and termination provisions and other terms and conditions as were in effect immediately prior to the Effective
Time for the corresponding Dover Option and Dover Stock Appreciation Right. 
 (b) Knowles Options and Stock Appreciation Rights.
Each Dover Option and Dover Stock Appreciation Right that is outstanding immediately prior to the Effective Time and that is held by a Knowles Employee shall, as of the Effective Time, be cancelled and immediately replaced with a Knowles Option or a
Knowles Stock Appreciation Right (as applicable) as follows: 
 (i) The number of shares of Knowles Common Stock subject to
each Knowles Option and each Knowles Stock Appreciation Right shall be equal to the product (rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover
Option or Dover Stock Appreciation Right immediately prior to the Effective Time and (B) a fraction, the numerator of which is the Pre-Distribution Price of a share of Dover Common Stock and the denominator of which is the Post-Distribution
Price of a share of Knowles Common Stock (such fraction, the “Knowles Ratio”). 
 (ii) The exercise price
per share for each Knowles Option and base price per share for each Knowles Stock Appreciation Right shall be equal to (rounded up to the nearest whole cent) (A) the exercise price or base price (as the case may be) of the corresponding Dover
Option or Dover Stock Appreciation Right immediately prior to the Effective Time divided by (B) the Knowles Ratio. 

(iii) Each Knowles Option and Knowles Stock Appreciation Right shall otherwise be subject to the same terms, vesting
conditions, exercise procedures, expiration dates and termination provisions and other terms and conditions as were in effect immediately prior to the Effective Time for the corresponding Dover Option and Dover Stock Appreciation Right. With respect
to each Knowles Option and Knowles Stock Appreciation Right, Knowles shall give each Knowles Employee full service credit for such Knowles Employee’s service with either Party or any of its respective Subsidiaries or Affiliates prior to the
Effective Time to the same extent such service was recognized with respect to the corresponding Dover Option or Dover Stock Appreciation Right immediately prior to the Effective Time. 

  
 12 

 5.3 Restricted Stock Units.  

(a) Dover Restricted Stock Units. Each Dover Restricted Stock Unit that is outstanding immediately prior to the Effective Time and
that is held by a Dover Employee, a Former Employee or a non-employee director shall be adjusted as of the Effective Time (and shall thereafter be referred to as an “Adjusted Dover RSU”) as follows: 

(i) the number of shares of Dover Common Stock subject to each Adjusted Dover RSU shall be equal to the product (rounded down
to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover Restricted Stock Unit immediately prior to the Effective Time and (B) the Dover Ratio. 

(ii) Each Adjusted Dover RSU shall be subject to the same terms, vesting conditions, issuance dates and method of distribution
and other terms and conditions as were in effect immediately prior to the Effective Time for the corresponding Dover Restricted Stock Unit. 

(iii) Notwithstanding the foregoing, the Compensation Committee of the Dover Board of Directors shall adjust the
performance-vesting requirements for any performance-based Adjusted Dover RSUs, in order to reflect the impact of the Distribution upon the performance goals previously established for such units or awards. 

(b) Knowles Restricted Stock Units. Each Dover Restricted Stock Unit that is outstanding immediately prior to the Effective Time and
that is held by a Knowles Employee shall, as of the Effective Time, be cancelled and immediately replaced with a Knowles Restricted Stock Unit, as follows: 

(i) The number of shares of Knowles Common Stock subject to each Knowles Restricted Stock Unit shall be equal to the product
(rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover Restricted Stock Unit immediately prior to the Effective Time and (B) the Knowles Ratio.

 (ii) With respect to any performance-based Dover Restricted Stock Units that relate to a performance period ending after
the Effective Time, such Dover Restricted Stock Units shall be replaced with a number of time-based Knowles Restricted Stock Units as calculated pursuant to Section 5.3(b)(i), based on the number of shares of Dover Common Stock that would be
payable upon the settlement of such units upon target-level achievement of the performance goals (and any units not subject to conversion will be forfeited). 

(iii) Except as provided in Section 5.3(b)(ii), each Knowles Restricted Stock Unit shall be subject to the same terms,
vesting conditions, issuance dates and method of distribution and other terms and conditions that were in effect immediately prior to the Effective Time for the corresponding Dover Restricted Stock Unit. With respect to each Knowles Restricted Stock
Unit, Knowles shall give each Knowles Employee full service credit for such Knowles Employee’s service with either Party or any of its 

  
 13 

 
respective Subsidiaries or Affiliates prior to the Effective Time to the same extent such service was recognized with respect to the corresponding Dover Restricted Stock Unit immediately prior to
the Effective Time. 
 5.4 General. All of the adjustments described in this Article 5 shall be effected in accordance with Sections
424 and 409A of the Code, to the extent subject thereto. 
 5.5 Non-US Grants/Awards. In making the adjustments as described in this
Article 5, the Parties shall use commercially reasonable efforts to preserve, at and after the Effective Time, the value and tax treatment accorded each equity award granted to non-U.S. employees under the Dover Equity-Based Plans. 

5.6 Approval of Plan. Prior to the Effective Time, Dover shall cause Knowles to adopt the Knowles Long Term Incentive Plan. 

5.7 Administration. Each of Dover and Knowles shall establish an appropriate administration system in order to handle exercises
and delivery of shares in an orderly manner and provide reasonable levels of service for equity award holders. 
 5.8 Registration.
The Parties shall use commercially reasonable efforts to maintain effective registration statements with the Commission with respect to the awards described in this Article 5, to the extent any such registration statement is required by applicable
Law. 
 5.9 No Effect on Subsequent Awards. The provisions of this Article 5 shall have no effect on the terms and conditions of
equity and equity-based awards granted following the Distribution Date by Dover or Knowles. 
 5.10 Individual Agreements. Except for
the Individual Agreements set forth on Schedule A, attached hereto, as of the Plan Separation Date, Knowles shall, or shall cause a member of the Knowles Group to assume, and shall thereafter perform, each Individual Agreement with a Knowles
Employee, or if such assumption cannot be effected, Knowles shall use its reasonable best efforts to enter into a successor agreement with the Knowles Employee providing substantially identical terms and conditions of employment. 

ARTICLE VI 
 GENERAL AND
ADMINISTRATIVE 
 6.1 Sharing of Participant Information. To the maximum extent permitted under applicable Law, Dover and Knowles
shall share, and shall cause the members of its respective Group to share, with each other and their respective agents and vendors all participant information reasonably necessary for the efficient and accurate administration of each of the Dover
Plans and the Knowles Plans. Dover and Knowles and their respective authorized agents shall, subject to applicable laws on confidentiality, be given reasonable and timely access to, and may make copies of, all information relating to the subjects of
this Agreement in the custody of the other Party or any member of its Group, to the extent necessary for such administration. Until the Plan Separation Date, all participant information shall be provided in the manner and medium

  
 14 

 
applicable to Participating Companies in the Dover Plans generally, and thereafter until the time at which the Parties subsequently determine, all participant information shall be provided in a
manner and medium that are compatible with the data processing systems of Dover as in effect as of the Plan Separation Date, unless otherwise agreed to by Dover and Knowles. 

6.2 Non-Termination of Employment; No Third Party Beneficiaries. No provision of this Agreement or the Separation Agreement shall be
construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any future, present, or former employee of a member of the Dover Group or the Knowles Group under any Dover Plan or Knowles Plan or
otherwise. Except as expressly provided in this Agreement, nothing in this Agreement shall preclude any member of the Knowles Group, at any time after the Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or
otherwise altering in any respect any Knowles Plan, any benefit under any Knowles Plan or any trust, insurance policy or funding vehicle related to any Knowles Plan; and except as expressly provided in this Agreement, nothing in this Agreement shall
preclude any member of the Dover Group, at any time after the Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Dover Plan, any benefit under any Dover Plan or any trust,
insurance policy or funding vehicle related to any Dover Plan. 
 6.3 Audit Rights with Respect to Information Provided. Each of
Dover and Knowles, and their duly authorized representatives, shall have the right to conduct reasonable audits with respect to all information provided to it by the other Party. The Parties shall cooperate to determine the procedures and guidelines
for conducting audits under this Section 6.3, which shall require reasonable advance notice by the auditing party. The auditing Party shall have the right to make copies of any records at its expense, subject to applicable Law. 

6.4 Fiduciary Matters. Dover and Knowles each acknowledge that actions required to be taken pursuant to this Agreement may be subject
to fiduciary duties or standards of conduct under ERISA or other applicable Law, and no Party shall be deemed to be in violation of this Agreement if it fails to comply with any provisions hereof based upon its good faith determination (as supported
by advice from counsel experienced in such matters) that to do so would violate such a fiduciary duty or standard. Each Party shall be responsible for taking such actions as are deemed necessary and appropriate to comply with its own fiduciary
responsibilities and shall fully release and indemnify the other party for any Liabilities caused by the failure to satisfy any such responsibility. 

6.5 Consent of Third Parties. If any provision of this Agreement is dependent on the consent of any Third Party (such as a vendor or
Governmental Entity) and such consent is withheld, Dover and Knowles shall use commercially reasonable efforts to implement the applicable provisions of this Agreement to the full extent practicable. If any provision of this Agreement cannot be
implemented due to the failure of such Third Party to consent, Dover and Knowles shall negotiate in good faith to implement the provision in a mutually satisfactory manner. The phrase “commercially reasonable efforts” as used herein shall
not be construed to require the incurrence of any non-routine or unreasonable expense or liability or the waiver of any right. 
 6.6
Subsequent Transfers of Employment. To the extent that the employment of any individuals transfers between any member of the Dover Group and any member of the Knowles 

  
 15 

 
Group in the twenty four (24) month period following the Distribution Date, the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the
compensation and benefits of such individuals following such transfer, it being understood that (i) it may not be possible to replicate the effect of such provisions under such circumstances and (ii) neither Dover nor Knowles shall be
bound by the provisions of this Section 6.6 to assume any Liabilities or transfer any Assets. Notwithstanding to foregoing, for compensation subject to the provisions of Section 409A of the Code, any such subsequent transfer shall be a
separation from service from the applicable employer for purposes of such compensation, and the consequences of such separation from service shall be determined in accordance with the terms of the applicable plan or agreement. 

ARTICLE VII 
 MISCELLANEOUS 

7.1 Complete Agreement. This Agreement, the Separation Agreement and the other Ancillary Agreements, and the exhibits, schedules and
annexes hereto and thereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. In the event
of any conflict between the terms and conditions of the body of this Agreement and the terms and conditions of any Schedule, the terms and conditions of such Schedule shall control. 

7.2 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same
agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Parties. Execution of this Agreement or any other documents pursuant to this Agreement by facsimile or other
electronic copy of a signature shall be deemed to be, and shall have the same effect as, executed by an original signature. 
 7.3
Survival of Agreements. Except as otherwise contemplated by this Agreement, all covenants and agreements of the Parties contained in this Agreement shall survive the Effective Time and remain in full force and effect in accordance with their
applicable terms. 
 7.4 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in
writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt unless the day of receipt is not a Business Day, in which case it shall be deemed to have been duly given or made on the next Business Day) by
delivery in person, by overnight courier service, by facsimile with receipt confirmed (followed by delivery of an original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the
respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 7.4): 

If to Dover: 
  

			
	 Dover Corporation
 3005 Highland
Parkway
 Downers Grove, Illinois 60515

	Attention:	  	General Counsel
	 Facsimile:
	  	630-743-2671

  
 16 

 If to Knowles: 
  

	
	 Knowles Corporation
 1151 Maplewood Drive

Itasca, Illinois 60143
 Attn: General Counsel

Facsimile: 630-250-0575

 7.5 Termination. Notwithstanding any provision to the contrary, this Agreement may be terminated at any
time prior to the Effective Time if the Separation Agreement is terminated. In the event of such termination, this Agreement shall become void and no Party, nor any of its officers and directors shall have any liability to any other Party or any
other Person. After the Effective Time, this Agreement may not be terminated except by an agreement in writing signed by each of the Parties. 

7.6 Severability. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, and the Parties shall endeavor in good-faith negotiations to replace the
invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

7.7 Assignment; No Third-Party Beneficiaries. The provisions of this Agreement and the obligations and rights hereunder shall be
binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors (by merger, acquisition of assets or otherwise) and permitted transferees and assigns to the same extent as if such successors or
permitted transferees and assigns had been an original party to the Agreement. Notwithstanding the foregoing, this Agreement shall not be assignable, in whole or in part, by any Party without the prior written consent of the other Party, and any
attempt to assign any rights or obligations arising under this Agreement without such consent shall be null and void; provided, that (x) a Party may assign any or all of its rights and obligations under this Agreement to any of its
Affiliates, but no such assignment shall release the assigning Party from any liability or obligation under this Agreement and (y) a Party may assign this Agreement in whole in connection with a bone fide third party merger transaction in which
such Party is not the surviving entity or the sale by such Party of all or substantially all of its Assets, and upon the effectiveness of such assignment under this clause (y) the assigning Party shall be released from all of its obligations
under this Agreement if the surviving entity of such merger or the transferee of such Assets shall agree in writing, in form and substance reasonably satisfactory to the other Party, to be bound by the terms of this Agreement as if named as a
“Party” hereto. This Agreement is for the sole benefit of the Parties to this Agreement and their permitted successors and assigns and nothing in this Agreement, express or implied, (i) is intended to or shall confer upon any other
Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, (ii) shall confer any right to employment or continued employment for any period or terms of employment, (iii) be
interpreted to prevent or restrict the Parties from modifying or terminating any Knowles Plan or Dover Plan or the employment or terms of employment of any Knowles Employee or Dover Employee or (iv) shall establish, modify or amend any Knowles
Plan 

  
 17 

 
or Dover Plan covering a Knowles Participant, Dover Participant, any Individual Agreements, collective bargaining agreements, national collective bargaining agreements, or the terms and
conditions of employment applicable to a Knowles Employee or a Dover Employee. 
 7.8 Successors. This Agreement shall be binding on
and inure to the benefit of any successor by merger, acquisition of assets, or otherwise, to any of the parties hereto, to the same extent as if such successor had been an original party to this Agreement. 

7.9 Governing Law. This Agreement shall be governed by and construed in accordance with the internal Laws, and not the Laws governing
conflicts of Laws (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law), of the State of New York. 
 7.10
Consent to Jurisdiction. Subject to the provisions of Article VIII of the Separation Agreement, each of the Parties irrevocably submits to the exclusive jurisdiction of (a) the Supreme Court of the State of New York, New York County, and
(b) the United States District Court for the Southern District of New York (the “New York Courts”), for the purposes of any suit, action or other proceeding to compel arbitration or for provisional relief in aid of arbitration
in accordance with Article VIII of the Separation Agreement or for provisional relief to prevent irreparable harm, and to the non-exclusive jurisdiction of the New York Courts for the enforcement of any award issued thereunder. Each of the Parties
further agrees that service of any process, summons, notice or document by United States registered mail to such Party’s respective address set forth in Section 7.4 shall be effective service of process for any action, suit or proceeding
in the New York Courts with respect to any matters to which it has submitted to jurisdiction in this Section 7.10. Each of the Parties irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding
arising out of this Agreement or the transactions contemplated hereby in the New York Courts, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an inconvenient forum. 
 7.11 Dispute Resolution. The resolution of any dispute
between the Parties with respect to this Agreement shall be governed by the provisions of the Separation Agreement with respect to the resolution of disputes, including, without limitation, the provisions of Article VIII of the Separation Agreement.

 7.12 Specific Performance. The Parties agree that irreparable damage would occur in the event that the provisions of this
Agreement were not performed in accordance with their specific terms. Accordingly, subject to Section 7.11 it is hereby agreed that the Parties shall be entitled to (i) an injunction or injunctions to enforce specifically the terms and
provisions hereof in any arbitration in accordance with Article VIII of the Separation Agreement, (ii) provisional or temporary injunctive relief in accordance therewith in any New York Court, and (iii) enforcement of any such award of an
arbitral tribunal or a New York Court in any court of the United States, or any other any court or tribunal sitting in any state of the United States or in any foreign country that has jurisdiction, this being in addition to any other remedy or
relief to which they may be entitled. 
 7.13 Amendment. No provision of this Agreement may be amended or modified except by a
written instrument signed by each of the Parties. No waiver by any Party of any provision of this Agreement shall be effective unless explicitly set forth in writing and executed by the Party so waiving. The waiver by any Party of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any other subsequent breach. 

  
 18 

 7.14 Rules of Construction. Interpretation of this Agreement shall be governed by the
following rules of construction: (i) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the context re-quires, (ii) references to the terms Article,
Section, paragraph, clause, Exhibit and Schedule are references to the Articles, Sections, paragraphs, clauses, Exhibits and Schedules of this Agreement unless otherwise specified, (iii) the terms “hereof,” “herein,”
“hereby,” “hereto,” and derivative or similar words refer to this entire Agreement, including the Schedules and Exhibits here-to, (iv) references to “$” shall mean U.S. dollars, (v) the word
“including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified, (vi) the word “or” shall not be exclusive, (vii) references to
“written” or “in writing” include in electronic form, (viii) provisions shall apply, when appropriate, to successive events and transactions, (ix) the headings contained in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation of this Agreement, (x) Dover and Knowles have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this
Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in this Agreement or any interim drafts of
this Agreement, and (xi) a reference to any Person includes such Person’s successors and permitted assigns. 
 7.15
Authorization. Each of the Parties hereby represents and warrants that it has the power and authority to execute, deliver and perform this Agreement, that this Agreement has been duly authorized by all necessary corporate action on the part
of such Party, that this Agreement constitutes a legal, valid and binding obligation of each such Party enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws affecting creditors’ rights generally and general equity principles. 
 7.16 Schedules. The Schedules attached hereto are
incorporated herein by reference and shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. 

7.17 Subsidiaries. Each of the Parties shall cause to be performed, and hereby guarantee the performance of, all actions, agreements
and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party or by any entity that becomes a Subsidiary or Affiliate of such Party on and after the date hereof. 

7.18 No Circumvention. The Parties agree not to directly or indirectly take any actions, act in concert with any Person who takes an
action, or cause or allow any member of any such Party’s Group to take any actions (including the failure to take a reasonable action) such that the resulting effect is to materially undermine the effectiveness of any of the provisions of this
Agreement or any Ancillary Agreement. 
 [The remainder of this page is intentionally left blank.] 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the date
first written above by their respective duly authorized officers. 
  

			
	DOVER CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	KNOWLES CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

 Schedule A 
  

	1.	Executive Severance Agreement by and between Dover Corporation and David Wightman, dated as of February 21, 2000.EX-10.4

 Exhibit 10.4 

KNOWLES CORPORATION 

SENIOR EXECUTIVE CHANGE-IN-CONTROL SEVERANCE PLAN 

Introduction 
 This Knowles Corporation
Senior Executive Change-in-Control Severance Plan (the “Plan”) sets forth the policy of Knowles Corporation, a Delaware corporation (“Knowles”), and each of its Subsidiaries (as defined in Article 14) which employs an
“Eligible Executive” (as defined in Article 1) with respect to “Severance Payments” (as defined in Article 5) payable to an Eligible Executive under the Plan (Knowles and such Subsidiaries are collectively referred to as the
“Company”). This Senior Executive Change-in-Control Severance Plan constitutes the plan document and summary plan description for the Plan. 

Article 1. Who is Eligible for Participation in the Plan 
  

	a.	Eligible Executives. Those executives who are eligible to participate in the Plan are (i) the Chief Executive Officer and the Chief Financial Officer of Knowles, Business Unit Presidents, and those Vice
Presidents of Knowles who are designated as eligible by the Chief Executive Officer of Knowles from time to time, (ii) who are (A) employed in the United States, or (B) a U.S.-based employee temporarily assigned to the non-U.S.
payroll of a Subsidiary on an expatriate assignment, and (iii) and, on the date of a “Change of Control” (as defined in Article 14), remain in such a position(“Eligible Executives”), shall be eligible to receive Severance
Payments under the Plan. 

  

	b.	Effect of Employment Agreement. You shall not be eligible to participate in the Plan if you are party to a written agreement with the Company that provides for severance payments to you upon, or following, the
termination of your employment or following a Change-in-Control of the Company. 

  

	c.	Other Plans. If you are eligible to participate in this Plan, you shall not be eligible to participate in, or to receive any severance benefits under, any other severance plan, policy, practice, or arrangement
maintained by the Company. If you become eligible to receive Severance Payments under this Plan, you shall not be eligible to receive Severance Payments under the Knowles Corporation Executive Severance Plan. 

Article 2. How Do You Become Eligible for Severance Payments under the Plan 

You will be eligible for Severance Payments if you are an Eligible Executive as of the date of a Change of Control and, within eighteen (18) months
following a Change-in-Control: 
  

	a.	Termination Without Cause. Your employment is terminated by the Company without “Cause” (as defined in Article 14) (“Termination Without Cause”); or 

 

	b.	Good Reason Termination. You terminate your employment with the Company for “Good Reason” (as defined in Article 14) by giving a notice of termination for Good Reason under the procedures set forth in
this Article 2 (“Good Reason Termination”); 

	 	•	 	You may elect to terminate your employment for Good Reason by giving written notice to the Company of the events constituting Good Reason within eighteen (18) months after a Change-in-Control. The notice of
termination for Good Reason shall be effective thirty (30) days after it is provided by you if the Company shall fail to cure the events constituting Good Reason within such thirty (30) day notice period. In order to be effective, you must
give the notice of a Good Reason termination within sixty (60) days after the event(s) that constitute Good Reason first occur and within eighteen (18) months after a Change-in-Control. 

 

	 	•	 	The Company may waive all or part of the thirty (30) day notice required to be given by you by giving written notice to you. 

Article 3. What Events Make You Ineligible for Severance Payments under the Plan  

You shall not be entitled to receive Severance Payments under this Plan if any of the following disqualifying events occur: 

 

	a.	Death or Disability. Your employment terminates due to death or, at the option of the Company, upon your “Disability” (as defined in Article 14); 

 

	b.	Voluntary Termination. You terminate your employment with the Company or a successor for any reason, including without limitation retirement, other than for Good Reason (“Voluntary Termination”). A
Voluntary Termination includes, without limitation, a termination by you (i) after a failure by you to give a timely notice of termination for Good Reason, or (ii) after the Company timely cures the event(s) that are claimed to constitute
Good Reason. 

  

	c.	Termination for Cause. Your employment with the Company is terminated for Cause (“Termination for Cause”); 

  

	 	•	 	Your employment may be terminated for Cause by the Company effective upon the giving of written notice to you of such Termination for Cause, or effective upon another date as specified in such notice (“Notice of
Termination for Cause”). 

  

	 	•	 	If within one (1) year after your employment terminates as the result of Good Reason Termination or Termination Without Cause, the Company determines that your employment could have been Terminated for Cause, your
prior termination shall be recharacterized as a Termination for Cause upon the Company giving written notice to you (or to your estate in the event of your death). You (or your estate) shall have thirty (30) days to provide a written response
to the Company. To the extent that the Company does not reverse its determination after receipt of your response, if any, you (or your estate) shall be obligated promptly to repay any Severance Payments paid to you under the Plan. The Company may
take appropriate legal action to seek to recover any Severance Payments from you or your estate. 

  
 2 

	d.	Sale. You work for a division, subdivision, plant, location, or entity which is sold or otherwise transferred to an entity other than Knowles and its Subsidiaries in a transaction that does not constitute a
Change-in-Control, regardless of whether the new owner offers continued or comparable employment to you. 

  

	e.	New Employer. You begin working for another employer (whether regular or temporary and whether full-time or part-time) in any capacity, including as a consultant or independent contractor, before your “Date
of Termination” (as defined in Article 14). You are required to immediately notify the Company in writing if you begin another job prior to your Date of Termination. 

Article 4. What Amounts Other than Severance Payments May be Payable to You 

Regardless of whether you are eligible for Severance Payments under the Plan, you may be entitled to receive benefits (other than severance payments) for which
you are expressly eligible following your Date of Termination to the extent you are entitled under the terms and conditions of any other plans, policies, programs and/or arrangements of the Company, including without limitation, continuation health
benefits under the federal law known as COBRA, amounts payable or benefits provided under the Knowles Corporation 2014 Equity and Cash Incentive Plan and any successor plan (the “2014 Plan”), the Knowles Corporation Executive Deferred
Compensation Plan, and the Knowles Corporation 401(k) Plan. 
 Article 5. What Severance Payments Are Payable under the Plan 

If you are eligible to receive Severance Payments under Article 2 above, and you have not become ineligible for the receipt of such Severance Payments due to a
disqualifying event as described in Article 3 above or other provisions of the Plan, you shall be entitled to the following severance payments (the “Severance Payments”): 

 

	 	•	 	A lump sum payment payable sixty (60) days following your Date of Termination equal to 2.0 multiplied by the sum of (i) your annual base salary on your Date of Termination (or, if higher, on the date of the
Change-in-Control), and (ii) your target annual incentive bonus for the year in which the Date of Termination occurs (or, if higher, on the date of the Change-in-Control). 

 

	 	•	 	A lump sum payment payable sixty (60) days following your Date of Termination equal to the then cost of COBRA health continuation coverage for yourself and covered family members for twelve months based on the
level of health coverage, if any, in effect on your Date of Termination. 

  

	 	•	 	If you die before receipt of all Severance Payments to which you are entitled, any payments due to you will be paid to your estate at the time they would have been payable to you. 

 

	 	•	 	 The Company’s obligations to make Severance Payments to you are conditioned upon your timely execution (without revocation) of a separation
agreement and a general release of all claims related to your employment and the termination of 

  
 3 

	 	 
your employment in a form satisfactory to Knowles (the “Separation Agreement and Release”). The Separation Agreement and Release shall include a confidentiality covenant, a
non-disparagement covenant, a covenant for the protection of intellectual property, and a non-competition and non-solicitation restriction for twelve (12) months from the Date of Termination, as more fully set forth in such Separation Agreement
and Release. If you should fail to execute such Separation Agreement and Release within forty-five (45) days following the Date of Termination or should you later revoke or violate the Separation Agreement and Release, the Company shall not
have any obligation to make the payments contemplated under this Plan and you shall refund any Severance Payments made to you. 

Article 6. Claw-Back Provisions 
 In addition to
the right of the Company under Article 3(c) and Article 5 to recover amounts paid to you, in the event that you shall (i) breach the non-competition, non-disparagement, non-solicitation, confidentiality, intellectual property or other covenants
or provisions of the Separation Agreement and Release, or (ii) be required by any claw-back policies of the Company, as in effect from time to time, or by applicable law, to refund payments received from the Company as the result of a
restatement of the Company’s financial statements or other events or conduct as may be specified in such policies from time to time or as may be required by applicable law, you shall be obligated promptly to refund the Severance Payments made
to you. The Company may take appropriate legal action to seek to recover any Severance Payments from you or your estate. 
 Article 7. Income Taxes
 
 Severance Payments are subject to all applicable federal, state, local and non-U.S. tax withholdings. 

Article 8. Section 409A of the Code  

Notwithstanding any other provision of the Plan, if any payment, compensation or other benefit provided to you in connection with your employment termination
is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code (“Code”) and you are a “specified employee” as defined in Code
Section 409A(a)(2)(b)(i), no part of such payments shall be paid before the day that is six (6) months plus one (1) day after your Date of Termination (such date, the “New Payment Date”). The aggregate of any payments that
otherwise would have been paid to you during the period between your Date of Termination and the New Payment Date shall be paid to you in a lump sum on such New Payment Date. Thereafter, any payments that remain outstanding as of the day immediately
following the New Payment Date shall be paid without delay over the time period originally scheduled in accordance with the terms of the Plan. If you die during the period between the Date of Termination and the New Payment Date, the amounts
withheld on account of Code Section 409A shall be paid to your estate within ninety (90) days of your death. 

  
 4 

 For the avoidance of doubt, up to two (2) times the lesser of: (i) your Base Salary for the year
preceding the year in which your Date of Termination occurs; and (ii) the maximum amount of compensation that may be taken into account under a qualified plan pursuant to Code Section 401(a)(17) for the year in which your Date of
Termination occurs, shall be paid in accordance with the schedule set forth in Article 5, without regard to such six (6) month delay. 
 The provisions
of the Plan are intended to be exempt from, or to comply with, the requirements of Code Section 409A, including without limitation, with the separation pay exemption and short-term deferral exemption of Code Section 409A. The Plan shall in
all respects be administered in accordance with Code Section 409A and shall be interpreted in a manner to conform to the requirements of Code Section 409A. Notwithstanding anything in the Plan to the contrary, distributions may only be
made under the Plan upon an event and in a manner permitted by Code Section 409A or an applicable exemption. 
 All payments to be made upon a
termination of employment under the Plan may only be made upon a “separation from service” under Code Section 409A. 
 For purposes of Code
Section 409A, the right to a series of installment payments under the Plan shall be treated as a right to a series of separate payments. In no event may you, directly or indirectly, designate the calendar year of a payment. 

Article 9. Excess Parachute Payments 
 In the event
that the Company determines that any payment or distribution to you by the Company in connection with a Change-in-Control, whether paid or payable under this Plan or by reason of any other agreement, policy, plan, program or arrangement, including
without limitation, any outstanding award or right under the 2014 Plan, or the Knowles Corporation Executive Deferred Compensation Plan (a “Payment”) would be subject to the excise tax imposed by Code Section 4999 (or any successor
provision thereto) or to any similar tax imposed by state or local law, or any interest or penalties with respect to such tax (such tax or taxes, together with any such interest and penalties, being hereafter collectively referred to as the
“Excise Tax”), and you would receive a greater net after-tax amount (taking into account all applicable taxes payable by you, including any excise tax under Code Section 4999) by applying the reduction contained in this Article 9,
then the Severance Payments to you under this Plan shall be reduced (but not below zero) to the maximum amount which may be paid without you becoming subject to such an excise tax under Code Section 4999 (such reduced payments to be referred to
as the “Payment Cap”). In the event that you are subject to the Payment Cap, the Company shall reduce payments to you under this Plan in reverse chronological order such that the last payments to be made to you will be reduced first until
the Payment Cap is reached. The tax and benefit calculations contemplated by this paragraph shall be performed by Knowles’s accountants or tax counsel, the fees of which shall be paid by Knowles, including any fees incurred in connection with
the audit of your tax return or appeal from any assessment. 

  
 5 

 Article 10. Administration of Plan  

The “Plan Administrator” (as defined in Article 14) shall have the exclusive right, power, and authority, in its sole and absolute discretion, to
administer, apply, and interpret the Plan and to decide all matters arising in connection with the operation or administration of the Plan to the extent not retained by Knowles as set forth herein. Without limiting the generality of the foregoing,
the Plan Administrator shall have the sole and absolute discretionary authority to: 
  

	 	•	 	Make determinations as to whether an employee is, or is not, an Eligible Executive; 

  

	 	•	 	Take all actions and make all decisions with respect to the eligibility for, and the amount of, Severance Payments payable under the Plan; 

 

	 	•	 	Formulate, interpret and apply rules, regulations, and policies necessary to administer the Plan in accordance with its terms; 

  

	 	•	 	Decide questions, including legal or factual questions, with regard to any matter related to the Plan; 

  

	 	•	 	Construe and interpret the terms and provisions of the Plan and all documents which relate to the Plan and decide any and all matters arising thereunder including the right to remedy possible ambiguities,
inconsistencies or omissions; 

  

	 	•	 	Investigate and make such factual or other determinations as shall be necessary or advisable for the resolution of appeals of adverse determinations under the Plan; and 

 

	 	•	 	Process, and approve or deny, claims for Severance Payments under the Plan and any appeals. 

 All
determinations made by the Plan Administrator as to any question involving its respective responsibilities, powers and duties under the Plan shall be final and binding on all parties, to the maximum extent permitted by law. All determinations by
Knowles referred to in the Plan shall be made by Knowles in its capacity as an employer and settlor of the Plan. 
 Article 11. Modification or
Termination of Plan  
 Knowles reserves the right, in its sole and absolute discretion, to amend, modify, or terminate the Plan, in whole or in
part, including any or all of the provisions of the Plan, for any reason, at any time, by action of the Compensation Committee of Knowles’s Board of Directors (“Compensation Committee”). This Plan does not give an Eligible Executive
any vested right to Severance Payments. If the Plan is amended or terminated, your rights to receive Severance Payments may be eliminated. No individual may become entitled to benefits or other rights under the Plan after the Plan is terminated. In
the event that an amendment to the Plan to be effective on or after a Change-in-Control is in the aggregate materially adverse to you (taking into account any aspects of such amendments that are beneficial to you), or the Plan is terminated on or
after a Change-in-Control, no such amendment or termination shall be effective before the second anniversary of the Change-in-Control. In the event that a Change-in-Control 

  
 6 

 
occurs within twelve months after the effective date of an amendment to the Plan that is in the aggregate materially adverse to you (taking into account any aspects of such amendments that are
beneficial to you), or the Plan is terminated twelve months prior to a Change-in-Control, such amendment or termination shall not be effective. 

Article 12. Claims and Appeal Procedures  
 The
Plan Administrator shall make a determination in connection with the termination of employment of an Eligible Executive as to whether a Severance Payment under the Plan is payable to such Eligible Executive and the amount thereof, taking into
consideration any determination made by Knowles as to the circumstances regarding the termination, the potential applicability of a disqualifying event, or the Plan Administrator’s decision as to whether an employee is an Eligible Employee
under the Plan. The Plan Administrator shall advise any Eligible Executive it determines is entitled to Severance Payments under the Plan as to the amount of Severance Payments payable under the Plan. The Plan Administrator may delegate any or all
of its responsibilities under this section. 
 a. Claim Procedures 

Each Eligible Executive or his or her authorized representative (each, the “Claimant”) claiming Severance Payments under the Plan who has not been
advised by the Plan Administrator as to his or her eligibility for Severance Payments, disagrees with a determination that he or she is not eligible for Severance Payments, disagrees with the amount of any Severance Payments awarded under the Plan,
or disagrees with a decision to require him or her to repay an amount under the Plan, is eligible to file a written claim with the Plan Administrator. 

Within ninety (90) days after receiving the claim, the Plan Administrator will decide whether or not to approve the claim. The ninety (90)-day period may
be extended by the Plan Administrator up to an additional ninety (90)-day period if special circumstances require an extension of time to consider the claim. If the Plan Administrator extends the ninety (90)-day period, the Claimant will be notified
in writing before the expiration of the initial ninety (90)-day period as to the length of the extension and the special circumstances that necessitate the extension. 

If the claim is denied, the Plan Administrator shall set forth in writing (which notice may be electronic) the reasons for the denial; the relevant provisions
of the Plan on which the decision is made; a description of the Plan’s claim appeal procedures; and, if additional material or information is necessary to perfect the claim, an explanation of why such material or information is necessary. The
notice will also include a statement regarding the procedures for the Claimant to file a request for review of the claim denial as set forth in the “Appeal Procedures” sub-section below and the Claimant’s right to bring a civil action
under Section 502(a) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) following a claim denial on appeal. 

b. Appeal Procedures 
 If a claim has been denied by the
Plan Administrator and the Claimant wishes further consideration and review of his or her claim, he or she must file an appeal of the denial of the claim to the Plan Administrator no later than sixty (60) days after the receipt of the written

  
 7 

 
notification of the Plan Administrator’s denial. In connection with his or her appeal, the Claimant may request the opportunity to review relevant documents prior to submission of a written
statement, submit documents, records and comments in writing, and receive, upon request and free of charge, reasonable access to and copies of all documents, records and other information relevant to the Claimant’s claim for Severance Payments
under the Plan. The review of the appeal by the Plan Administrator will take into account all comments, documents, records and other information submitted by the Claimant relating to the claim, without regard to whether such information was
submitted or considered in the initial review of the claim. 
 The Plan Administrator will notify the Claimant in writing (which notice may be electronic)
of the Plan Administrator’s decision with respect to its review of the appeal within sixty (60) days of the receipt of the request for a review of the claim. Due to special circumstances, the Plan Administrator may extend the time to reach
a decision with respect to the appeal of the claim denial, in which case the Plan Administrator will notify the Claimant in writing before the expiration of the initial 60-day period as to the length of the extension and the special circumstances
that necessitate such extension and render a decision as soon as possible, but not later than one hundred twenty (120) days following the receipt of the Claimant’s request for appeal. 

If the appeal is denied, the Plan Administrator will set forth in writing (which notice may be electronic) the specific reasons for the denial and references
to the relevant Plan provisions on which the determination of the denial is based. The notice will also include a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all
documents, records and other information relevant to the claim, and a statement of the Claimant’s right to bring an action under Section 502(a) of ERISA. 

c. Exhaustion of Remedies under the Plan 
 A Claimant
wishing to seek judicial review of an adverse benefit determination under the Plan, whether in whole or in part, must file any suit or legal action, including, without limitation, a civil action under Section 502(a) of ERISA, within one
(1) year of the date the final decision on the adverse benefit determination on review is issued or should have been issued or lose any rights to bring such an action. If any such judicial proceeding is undertaken, the evidence presented shall
be strictly limited to the evidence timely presented to the Plan Administrator. A Claimant may bring an action under ERISA only after he or she has exhausted the Plan’s claims and appeal procedures. 

Article 13. Miscellaneous Provisions  
  

	 	•	 	The records of the Company with respect to employment history, compensation, absences, illnesses, and all other relevant matters shall be conclusive for all purposes of this Plan. 

 

	 	•	 	The respective terms and provisions of the Plan shall be construed, whenever possible, to be in conformity with the requirements of ERISA, or any subsequent laws or amendments thereto. To the extent not to conflict with
the preceding sentence, the construction and administration of the Plan shall be in accordance with the laws of the state of Illinois applicable to contracts made and to be performed within the state of Illinois (without reference to its conflicts
of law provisions). 

  
 8 

	 	•	 	Nothing contained in this Plan shall be held or construed to create any liability upon the Company to retain any employee in its service or to change the employee-at-will status of any employee. All employees shall
remain subject to the same terms and conditions of employment and discharge or discipline to the same extent as if the Plan had not been put into effect. An employee’s failure to qualify for, or receive, a Severance Payment under the Plan shall
not establish any right to (i) continuation or reinstatement, or (ii) any benefits in lieu of Severance Payments. 

  

	 	•	 	The Company has the right to cancel a proposed termination of employment or reschedule a termination date at any time before your employment terminates. You will not become eligible for Severance Payments if your
termination date is cancelled or if you voluntarily terminate employment before the termination date specified or rescheduled by the Company. 

  

	 	•	 	Severance Payments under this Plan are not intended to duplicate such (i) payments and benefits as may be provided to you under state, local, federal or non-US plant shut down, mass layoff or similar laws, such as
the WARN Act or (ii) payments in the nature of severance or separation pay, termination allowances or indemnities, and/or pay or benefits in lieu of notice, pay and/or benefits for service during any notice period, or any similar type of
payment or benefit under any non-US plan, program or policy, under any non-US contract or agreement or between a union, works council or other collective bargaining entity or employee representative and the Company, or under applicable non-US laws
or regulations. Should payments or benefits under such laws or other arrangements become payable to you, payments under this Plan will be offset or reduced (but not below zero) by all payments and benefits to which you are entitled under such other
laws or arrangements, or alternatively, Severance Payments previously paid under this Plan will be treated as having been paid to satisfy such other benefit obligations to the extent permitted by applicable law. In either case, the Plan
Administrator, in its sole discretion, will determine how to apply this provision and may override other provisions in this Plan in doing so. 

  

	 	•	 	At all times, payments under the Plan shall be made from the general assets of the Company. 

  

	 	•	 	Should any provisions of the Plan be deemed or held to be unlawful or invalid for any reason, the balance of the Plan shall remain in effect, unless it is amended or terminated as provided in the Plan.

  

	 	•	 	Except as required by law, the Severance Payments will not be subject to alienation, transfer, assignment, garnishment, execution or levy of any kind, and any attempt to cause such payments to be so subjected will not
be recognized. 

  

	 	•	 	If any overpayment is made under the Plan for any reason, the Plan Administrator will have the right to recover the overpayment. 

  
 9 

	 	•	 	The Company shall cause this Plan to be assumed by a successor of the Company, whether such succession occurs by merger, asset sale or otherwise. 

 

	 	•	 	Any notice or other written communication required or permitted pursuant to the terms of the Plan shall have been duly given (i) immediately when delivered by hand, (ii) three days after being mailed by United
States Mail, first class, postage prepaid (or such local equivalent thereof), addressed to the intended recipient at his, her or its last known address, (iii) on the next business day after deposit with a courier or overnight delivery service
post paid for next-day delivery and addressed in accordance with the last known address, or (iv) immediately upon delivery by facsimile or email to the telephone number or email address provided by a party for the receipt of notice.

 Article 14. Definitions 
  

			
	Beneficial Owner	  	 Shall have the meaning set forth in Rule 13d-3 under the “Securities Exchange Act of 1934” (“Exchange
Act”), except that a “Person” (as defined in this Article 14) shall not be deemed to be the “Beneficial Owner” of any securities which are properly reported on a Form
13-F.

		
	Cause	  	 •    You have engaged in conduct that constitutes willful misconduct, dishonesty, or gross negligence in the
performance of your duties; you breach your fiduciary duties to your employer; or your willful failure to carry out the lawful directions of the person(s) to whom you report;

		
		  	 •    You have engaged in conduct which is demonstrably and materially
injurious to your employer, or that materially harms the reputation, good will, or business of your employer;
  

•    You have engaged in conduct which is reported in the general or trade press or otherwise
achieves general notoriety and which is scandalous, immoral or illegal;

		
		  	 •    You have been convicted of, or entered a plea of guilty or nolo
contendere (or similar plea) to, a crime that constitutes a felony, or a crime that constitutes a misdemeanor involving moral turpitude, dishonesty or fraud;
  

•    You have been found liable in any Securities and Exchange Commission or other civil or
criminal securities law action or any cease and desist order applicable to you is entered (regardless of whether or not you admit or deny liability);

		
		  	 •    You have used or disclosed, without authorization, confidential or proprietary information of Knowles or
its Subsidiaries; you have breached any written agreement with the Company not to disclose any information pertaining to Knowles or its Subsidiaries or their

  
 10 

			
		  	 customers, suppliers and businesses; or you have breached any agreement relating to non-solicitation, non-competition, or
the ownership or protection of the intellectual property of Knowles or its Subsidiaries; or
  

•   You have breached any of the Company’s policies applicable to you, whether currently in
effect or adopted after the Effective Date of the Plan.

		
	 Change-in-

Control
	  	A Change-in-Control shall be deemed to have taken place upon the occurrence of any of the following events:
		
		  	 (i) any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of Knowles (not including in the securities beneficially owned by
such Person, any securities acquired directly from Knowles or its affiliates) representing 20% or more of either the then outstanding shares of common stock of Knowles or the combined voting power of Knowles’s then outstanding securities,
excluding any Person who becomes such a Beneficial Owner in connection with a transaction described in clause (A) of sub-paragraph (iii) below. For purposes of this definition, the term “affiliate” shall mean any entity that directly or
indirectly controls, is controlled by, or is under common control with Knowles; or

		
		  	 (ii) the following individuals cease for any reason to constitute a majority of the members of Knowles’s Board of Directors then serving: individuals
who, on the Effective Date of the Plan, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent
solicitation, relating to the election of directors of Knowles) whose appointment or election by the Board or nomination for election by Knowles’s stockholders was approved or recommended by a vote of at least
two-thirds of the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended;
or

		
		  	 (iii) there is consummated a merger or consolidation of Knowles or any direct or indirect subsidiary of Knowles with any other corporation, other than (A) a
merger or consolidation which would result in the voting securities of Knowles outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity or any parent thereof) at least 50% of the combined voting power of the voting securities of Knowles or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (B) a merger or
consolidation effected to implement a recapitalization of Knowles (or similar transaction) in which no Person is or becomes the

  
 11 

			
		  	Beneficial Owner, directly or indirectly, of securities of Knowles (not including in the securities Beneficially Owned by such Person any securities acquired directly from Knowles or its affiliates) representing 20% or more of
either the then outstanding shares of common stock of Knowles or the combined voting power of Knowles’s then outstanding securities; or
		
		  	 (iv) the stockholders of Knowles approve a plan of complete liquidation or dissolution of Knowles or an agreement is entered into for the sale or
disposition by Knowles of all or substantially all of Knowles’s assets, other than a sale or disposition by Knowles of all or substantially all of Knowles’s assets to an entity, at least 50% of the combined voting power of the voting
securities of which are owned by stockholders of Knowles in substantially the same proportions as their ownership of Knowles immediately prior to such transaction or series of transactions.

		
	Date of Termination	  	The date on which you incur a termination of employment or such other date on which you incur a “separation from service” determined under the provisions set forth in Section 1.409A-1(h) of the Treasury Regulations or any
successor provisions. Pursuant to such provisions, you will be treated as no longer performing services for the Company when the level of services you perform for the Company decreases to a level equal to 20% or less of the average level of services
performed by you during the immediately preceding thirty-six (36) months.
		
	Disability	  	Disability shall be defined as set forth under the Company-sponsored Long-Term Disability Benefits Plan that covers you, as such plan shall be in effect from time to time. Any dispute concerning whether you are deemed to have
suffered a Disability for purposes of the Plan shall be resolved in accordance with the dispute resolution procedures set forth in the Company-sponsored Long-Term Disability Benefits Plan in which you participate.
		
	Good Reason	  	The occurrence of any of the following events without your written consent:
		
		  	 •   A material reduction in (i) the rate of your annual base salary (other than a salary reduction not to exceed
10% that applies to all other Eligible Executives in the Plan), (ii) the target level of your annual bonus, or (iii) the grant value to you of your long-term incentive awards;

		
		  	 •   Any material and adverse change in your title;

		
		  	 •   Any material and adverse reduction in your authorities, responsibilities, or reporting relationships;
or

  
 12 

			
		  	 •   The relocation of your principal place of employment to a location more than fifty (50) miles from your
principal place of employment (unless such relocation does not increase your commute by more than twenty (20) miles), except for required travel on the Company’s business.

		
	Plan Administrator	  	With respect to Severance Payments payable to the President and Chief Executive Officer, the Chief Operating Officer, or the Vice President- Human Resources, the Compensation Committee. With respect to all other matters under the
plan, the Vice President- Human Resources of Knowles or successor position.
		
	Person	  	Shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (i) Knowles or any of its affiliates, (ii) a trustee or other
fiduciary holding securities under an employee benefit plan of Knowles or any of its affiliates, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities or (iv) a corporation owned, directly or indirectly, by
the stockholders of Knowles in substantially the same proportions as their ownership of stock of Knowles.
		
	Subsidiary	  	An entity in which Knowles owns, directly or indirectly, at least 50% of the equity or voting interests

 Article 15. Effective Date of Plan 

The Plan is effective as of [            ], 2014. 

  
 13 

 SUMMARY OF ERISA RIGHTS 

Your Rights Under ERISA 
 The Department of Labor has
issued regulations that require the Company to provide you with a statement of your rights under ERISA with respect to this Plan. The following statement was designated by the Department of Labor to satisfy this requirement and is presented
accordingly. 
 As a participant in the Plan, you are entitled to certain rights and protections under ERISA. ERISA provides that all Plan participants are
entitled to: 
 Receive Information About Your Plan and Benefits 
  

	1.	Examine, without charge, all Plan documents and copies of all documents filed by Knowles with the Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration. This
includes annual reports and Plan descriptions. All such documents are available for review from the Knowles Human Resources Department. 

  

	2.	Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan, including copies of the latest annual report (Form 5500 Series) and any updated summary plan description.
The Plan Administrator may charge you a reasonable fee for the copies. 

  

	3.	Receive a summary of the Plan’s annual financial report. Once each year, the Plan Administrator will send you a Summary Annual Report of the Plan’s financial activities at no charge. 

Prudent Action by Fiduciaries 
 In addition to creating
rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan. The people who operate your Plan, called fiduciaries of the Plan, have a duty to do so prudently and in the interest of you and
other Plan participants. 
 No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent
you from obtaining a benefit under the Plan or exercising your rights under ERISA. 
 Enforcing Your Rights 

If your claim for Severance Payments is denied or ignored in whole or in part, you have a right to receive a written explanation of the reason for the denial,
to obtain copies of documents related to the decision without charge, and to appeal any denial, all within certain time schedules. You have the right to have your claim reviewed and reconsidered as explained in the “Claims and Appeal
Procedures” section. 

  
 14 

 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials
from the Plan and do not receive them within thirty (30) days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the
materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. If you have a claim for Severance Payments which is denied or ignored, in whole or in part, you may file suit in a state or federal court
after you have exhausted the Plan’s claims and appeal procedures as described in the section “Claims and Appeal Procedures” hereof. If it should happen that Plan fiduciaries misuse the Plan’s money, or if you are discriminated
against for asserting your rights, you may seek assistance from the Department of Labor, or you may file suit in a federal court. 
 The court will decide
who should pay court costs and legal fees. If you are successful, the court may order the person you sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is
frivolous. 
 Assistance with Your Questions 
 If you
have any questions about the Plan, you should contact the Plan Administrator through the Knowles Human Resources Department. They will be glad to help you. If you have any questions about this statement or about your rights under ERISA, or if you
need assistance in obtaining documents from the Plan Administrator, you should contact the nearest Area Office of the Employee Benefits Security Administration, Department of Labor, listed in your telephone directory, or you may contact: 

The Division of Technical Assistance and Inquiries 
 Employee
Benefits Security Administration, 
 Department of Labor 
 200
Constitution Avenue, N.W., Room 5N625 
 Washington, DC 20210 

1-866-444-EBSA (1-866-444-3272) 
 www.dol.gov/ebsa (for general
information) 
 www.askebsa.dol.gov (for electronic inquiries) 

You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits
Security Administration at 1-866-444-3272. 
 Administrative Facts 
  

			
	Plan Name	  	 Knowles Corporation Senior Executive

Change-in-Control Severance Plan

		
	Plan Sponsor	  	 Knowles Corporation
 [insert address and phone
number]

		
	Type of Plan	  	The Plan is a welfare benefit plan that provides severance benefits

  
 15 

			
	Source of Contributions to Plan	  	Employer payments from general corporate assets
		
	 Plan Year
	  	The Plan Year is January 1 through December 31
		
	 Employer Identification Number
	  	[insert EIN]
		
	 Plan Number
	  	[5        ]
		
	 Plan Administrator
	  	 Knowles Corporation
 [insert address and
phone number]

		
	 Agent for Receiving Service of Legal Process
	  	 General Counsel
 Knowles Corporation

[insert address and phone number]Legal Process can also be served on the Plan Administrator

 Contact Information 
 If
you have questions about this Plan, please contact Knowles Human Resources at the coordinates below and they will provide you with this information. 

Knowles Human Resources 
  

			
	Phone:	  	[phone number]
	 Fax:
	  	[phone number]
	 E-Mail:
	  	[insert]

  
 16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]