Document:

EX-10.3

 Exhibit 10.3 

EXECUTION VERSION 

TRANSITION SERVICES AGREEMENT 
 by
and between 
 FORTIVE CORPORATION 

and 
 VONTIER CORPORATION 

Dated as of October 8, 2020 
  

 This TRANSITION SERVICES AGREEMENT (this “Agreement”), dated as of
October 8, 2020, is entered into by and between Fortive Corporation (“Fortive”), a Delaware corporation, and Vontier Corporation (“Vontier”), a Delaware corporation. “Party” or
“Parties” means Fortive or Vontier, individually or collectively, as the case may be. 
 W I T N
E S S E T H: 
 WHEREAS, the Parties have entered into that certain Separation and Distribution
Agreement, dated as of the date hereof (the “Separation Agreement”); and 
 WHEREAS, pursuant to the Separation Agreement,
certain services are to continue to be provided by the Fortive Group to the Vontier Group and by the Vontier Group to the Fortive Group after the Distribution Date upon the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties
hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 Certain Defined Terms. 

(a) Unless otherwise defined herein, all capitalized terms used herein shall have the same meanings as in the Separation Agreement. 

(b) The following capitalized terms used in this Agreement shall have the meanings set forth below: 

“Force Majeure” means, with respect to a Party, an event beyond the reasonable control of such Party, including acts of God,
storms, floods, pandemics, riots, fires, sabotage, civil commotion or civil unrest, interference by civil or military authorities, acts of war (declared or undeclared) or armed hostilities or other national or international calamity or one or more
acts of terrorism or failure or interruption of networks or energy sources. 
 “Fortive Provider” means Fortive or a
Provider that is a member of the Fortive Group. 
 “Prime Rate” means the rate last quoted as of the time of determination
by The Wall Street Journal as the “Prime Rate” in the United States or, if the Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release
H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate as of such time, or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by Fortive) or any similar release by the Federal Reserve
Board (as determined by Fortive). 

  
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 “Provider” means the Party or its Affiliates providing a Service or access
to a Facility under this Agreement. 
 “Recipient” means the Party to whom a Service or access to a Facility is being
provided under this Agreement. 
 “Virus(es)” means any computer instructions (i) that have a material adverse effect
on the operation, security or integrity of a computing telecommunications or other digital operating or processing system or environment, including other programs, data, databases, computer libraries and computer and communications equipment, by
altering, destroying, disrupting or inhibiting such operation, security or integrity; (ii) that without functional purpose, self-replicate without manual intervention; or (iii) that purport to perform a useful function but which actually
perform either a destructive or harmful function, or perform no useful function and utilize substantial computer, telecommunications or memory resources. 

“Vontier Provider” means Vontier or a Provider that is a member of the Vontier Group. 

ARTICLE II 

SERVICES, ACCESS TO FACILITIES AND DURATION 

Section 2.01 Services. Subject to the terms and conditions of this Agreement, Fortive shall provide (or cause to be provided) to
the Vontier Group all of the services listed in Schedule 2.01-1 attached hereto (as such Schedule may be amended pursuant to Section 2.04, the “Fortive Provided
Services”). Subject to the terms and conditions of this Agreement, Vontier shall provide (or cause to be provided) to the Fortive Group all of the services listed in Schedule 2.01-2 attached
hereto (as such Schedule may be amended pursuant to Section 2.04, the “Vontier Provided Services”, and collectively with the Fortive Provided Services and any Additional Services, the
“Services”). 
 Section 2.02 Access to Facilities. Subject to the terms and conditions of this Agreement,
Fortive shall provide (or cause to be provided) to the Vontier Group access to the facilities, equipment and software listed in Schedule 2.02-1 attached hereto (as such Schedule may be amended pursuant
to Section 2.04, the “Fortive Provided Facilities”). Subject to the terms and conditions of this Agreement, Vontier shall provide (or cause to be provided) to the Fortive Group access to the
facilities, equipment and software listed in Schedule 2.02-2 attached hereto (as such Schedule may be amended pursuant to Section 2.04, the “Vontier Provided
Facilities”, and collectively with the Fortive Provided Facilities and any Additional Facilities, the “Facilities”). 

Section 2.03 Duration of Services and Access to Facilities. Subject to Section 6.01 hereof, each of
Fortive and Vontier shall provide or cause to be provided to the respective Recipients each Service or access to each Facility until the expiration of the period set forth next to such Service or Facility on the applicable Schedules hereto or, if no
such period is provided with respect to a particular Service or Facility on such Schedules, on the second (2nd) anniversary of the Distribution Date (the “Term”);
provided, however, to the extent that a Fortive Provider’s 

  
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ability to provide a Fortive Provided Service or access to a Fortive Provided Facility, as the case may be, is dependent on the continuation of either a Vontier Provided Service or access to a
Vontier Provided Facility, as the case may be, Fortive’s obligation to provide, or cause to be provided, such Fortive Provided Service or access to such Fortive Provided Facility shall terminate automatically with the termination of such
supporting Vontier Provided Service or access to such supporting Vontier Provided Facility; provided, further, to the extent that a Vontier Provider’s ability to provide a Vontier Provided Service or access to
a Vontier Provided Facility, as the case may be, is dependent on the continuation of either a Fortive Provided Service or access to a Fortive Provided Facility, as the case may be, Vontier’s obligation to provide, or cause to be provided, such
Vontier Provided Service or access to such Vontier Provided Facility shall terminate automatically with the termination of such supporting Fortive Provided Service or access to such supporting Fortive Provided Facility. 

Section 2.04 Additional Services and Access to Additional Facilities. If, within four (4) months after the Distribution Date,
Fortive or Vontier (or the Fortive Transition Manager or Vontier Transition Manager, as applicable) identifies a service that (a) the Fortive Group provided to the Vontier Group during the one (1)-year period prior to the Distribution Date that
the Vontier Group reasonably needs in order for the Vontier Business to continue to operate in substantially the same manner in which the Vontier Business operated prior to the Distribution Date, and such service was not included in Schedule 2.01-1 (other than because the Parties agreed such services shall not be provided), or (b) the Vontier Group provided to the Fortive Group prior to the Distribution Date that the Fortive Group reasonably
needs in order for the Fortive Group to continue to operate their businesses other than the Vontier Business (the “Fortive Business”) in substantially the same manner in which such businesses operated prior to the
Distribution Date, and such service was not included in Schedule 2.01-2 (other than because the Parties agreed such services shall not be provided), and in each case (i) such service is not an
Excluded Service and (ii) the proposed Recipient of such service is unable to reasonably obtain such service from a Third Party, then, in each case, Vontier and Fortive shall use commercially reasonable efforts to provide, or cause to be
provided, such requested services (such additional services, the “Additional Services”). If, within four (4) months after the Distribution Date, Fortive or Vontier identifies access to additional facilities, equipment or
software that (x) the Fortive Group provided to the Vontier Group during the one (1)-year period prior to the Distribution Date that the Vontier Group reasonably needs in order for the Vontier Business to continue to operate in substantially
the same manner in which the Vontier Business operated prior to the Distribution Date, and such access was not included in Schedule 2.02-1 (other than because the Parties agreed such access shall not be provided), or (y) the Vontier
Group provided to Fortive or its Affiliates prior to the Distribution Date that the Fortive Group reasonably needs in order for the Fortive Business to continue to operate in substantially the same manner in which the Fortive Business operated prior
to the Distribution Date, and such access was not included in Schedule 2.02-2 (other than because the Parties agreed such access shall not be provided), and in each case the proposed Recipient of such facilities, equipment or software is
unable to reasonably obtain such service from a Third Party, then, in each case, Vontier and Fortive shall use commercially reasonable efforts to provide such requested access (such additional facilities, equipment and software, the
“Additional Facilities”). Unless specifically agreed in writing to the contrary, the Parties shall amend the appropriate Schedule in writing to include such Additional Services or access to Additional Facilities (including the
termination date with respect to such services, which, for clarity, shall be no later than the end of the Term) and such Additional 

  
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Services or access to Additional Facilities shall be deemed Services or access to Facilities, respectively, hereunder, and accordingly, the Party requested to provide such Additional Services or
access to Additional Facilities shall provide such Additional Services or access to Additional Facilities, or cause such Additional Services or access to Additional Facilities to be provided, in accordance with the terms and conditions of this
Agreement. 
 Section 2.05 Exception to Obligation to Provide Services or Access to Facilities; Excluded Services. 

(a) Notwithstanding anything in this Agreement to the contrary, including Fortive’s and Vontier’s obligations set forth in
Section 2.01 hereof, the relevant Providers shall not be obligated to (and neither Fortive nor Vontier shall be obligated to cause any Provider to) provide any Services or access to any Facilities if the provision of such
Services or access to such Facilities would violate any Law or any Contract to which Fortive, Vontier, any of Fortive’s or Vontier’s Affiliates or any of the Providers are subject; provided, however, that
Fortive and Vontier shall comply with Section 7.02 in obtaining any Consents necessary to provide such Services or access to such Facilities. 

(b) Notwithstanding anything to the contrary set forth herein, the Services shall in no event include those services set forth on Schedule
2.05(b) (the “Excluded Services”). 
 Section 2.06 Standard of the Provision of Services or Access to
Facilities. The provision of Services and access to Facilities shall be provided in the manner and at a level substantially consistent with that provided by the Providers immediately preceding the Distribution Date. All of the Fortive Provided
Services and Fortive Provided Facilities shall be for the sole use and benefit of Vontier Group, and all of the Vontier Provided Services and Vontier Provided Facilities shall be for the sole use and benefit of the Fortive Group;
provided that nothing in this Section 2.06 is intended to limit a Provider’s access to or use of its own Facilities except as may be set forth in the applicable Schedule 2.02. 

Section 2.07 Change in Services or Access to Facilities. The Providers may from time to time reasonably supplement, modify,
substitute or otherwise alter the Services provided and access to the Facilities in a manner that does not materially adversely affect the quality or availability of Services or access to the Facilities or increase the cost of using such Services or
accessing such Facilities. 
 Section 2.08 Subcontractors. A Provider may subcontract any of the Services or portion thereof to
any other Person, including any Affiliate of the Provider; provided, however, that such other Person shall be subject to service standards and confidentiality provisions at least equivalent to those set forth
herein, and such Provider shall in all cases remain primarily responsible for all of its obligations hereunder with respect to the Services provided by such subcontractor. 

  
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 Section 2.09 Electronic Access. 

(a) To the extent that the performance or receipt of Services or access to Facilities hereunder requires access to a Group’s intranet or
other internal systems by the other Group (the “Accessing Group”), the Party whose Group intranet or other internal systems is being accessed shall provide or cause to be provided limited access to such systems, subject to policies,
procedures and limitations to be determined by such Party. From and after the Distribution Date, a Party shall cause its Accessing Group to comply with all security guidelines (including physical security, network access, internet security,
confidentiality and personal data security guidelines) of the other Party, copies of which shall be made available to the Accessing Group upon reasonable request. 

(b) While Services and access to Facilities are being provided hereunder, the Parties shall take commercially reasonable measures to ensure
that no Virus or similar items are coded or introduced into the Services or Facilities. With respect to Services or access to Facilities provided by third parties, compliance with the applicable agreement with such third party shall be deemed
sufficient commercially reasonable measures. If a Virus is found to have been introduced into such Services or Facilities, the Parties hereto shall use commercially reasonable efforts to cooperate and to diligently work together and with each
Provider providing the Services or access to Facilities to eliminate the effects of the Virus. 
 (c) The Parties shall, and shall cause
their respective Providers to, exercise reasonable care in providing, accessing and using the Services and Facilities to prevent access to the Services and Facilities by unauthorized Persons. 

ARTICLE III 
 COSTS
AND DISBURSEMENTS 
 Section 3.01 Costs and Disbursements. 

(a) Each Party (or its designee) shall pay to the other Party providing, or causing to be provided, the applicable Service or Facility a
monthly fee for such Service or access to such Facility as set forth therefor in the applicable Schedule hereto, and with respect to an Additional Service or Additional Facility, the monthly fee shall be the applicable Provider’s internal and
external costs and expenses of providing such Additional Services or access to such Additional Facilities, plus any costs associated with migrating data or otherwise preparing any Additional Services or access to any Additional Facilities to be
provided under this Agreement (each aggregate fee calculated in accordance with this provision constituting a “Service Charge” and, collectively, the “Service Charges”); provided,
however, that a fee for a Service or Facility not provided or made available hereunder for a full month shall be pro-rated for the portion of such month provided or made available. During the
Term, the amount of a Service Charge for any Services or access to Facilities shall not increase, except to the extent that there is an increase after the Distribution Date in the costs actually incurred by the Provider in providing such Services or
access to Facilities, including as a result of (i) an increase in the amount of such Services or access to Facilities being provided to the Recipient (as compared to the amount of the Services or access to Facilities underlying the
determination of a Service Charge), (ii) an increase in the rates or charges imposed by any third-party provider that is providing goods or services used by the Provider in providing the Services or access to Facilities (as compared to the rates or
charges underlying a Service Charge), (iii) an increase in the payroll or benefits for any personnel used by the Provider in providing the Services or access to Facilities, or (iv) any increase in costs relating to any changes requested by the
Recipient in the nature of the Services or access to Facilities provided (including relating to newly installed products or equipment or any upgrades to existing products or equipment). 

  
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 (b) As of or prior to the Distribution Date, the Parties shall mutually agree on a form of
invoice to be issued for the aggregate of Service Charges by each Party. Each of Fortive and Vontier (or their designees), as applicable, shall deliver invoices to the other Party (or its designees) in accordance with the terms hereof, beginning on
or prior to the tenth (10th) day following the first fiscal month end following the Distribution Date and, thereafter, on or prior to the tenth (10th) day following the fiscal month end for each succeeding month or week (in accordance with the terms
hereof) for the duration of this Agreement (or at such other frequency as is consistent with the basis on which the Service Charges are determined and, if applicable, charged to Affiliates of each Party) in arrears for the Service Charges due under
this Agreement. Each of Fortive or Vontier (or their designees) shall pay, or cause to be paid, the amount of such invoice by wire transfer or check to the other Party (or its designees) within fifteen (15) days of the date of such invoice;
provided that (i) any Contracts that prescribe other payment terms for any other individual Service or access to a Facility shall continue to govern; and (ii) to the extent consistent with past practice with respect to
Services or access to Facilities rendered outside the United States, payments may be required in local currency. If Fortive or Vontier (or their designees), as applicable, fails to pay such amount by such date, such Party shall be obligated to pay
to the other Party providing, or causing to be provided, the Services and access to the Facilities, in addition to the amount due, interest on such amount at a rate per annum equal to the Prime Rate, from time to time in effect, calculated for the
actual number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment. 

Section 3.02 Right of Set-Off. Each of Fortive or Vontier, as applicable, shall pay the
full amount of Service Charges and shall not set-off, counterclaim or otherwise withhold any amount owed to the other Party under this Agreement, on account of any obligation owed by the other Party to Fortive
or Vontier, as applicable, under this Agreement, the Separation Agreement or any other Ancillary Agreement that has not been finally adjudicated, settled or otherwise agreed upon by the Parties in writing; provided,
however, that Fortive or Vontier, as applicable, shall be permitted to assert a set-off right with respect to any obligation that has been so finally adjudicated, settled or otherwise agreed
upon by the Parties in writing against amounts owed by the other Party under this Agreement. 
 ARTICLE IV 

WARRANTIES AND COMPLIANCE; LIMITATION OF LIABILITY 

Section 4.01 Disclaimer of Warranties. Except as expressly set forth herein, the Parties acknowledge and agree that (a) the
Services and Facilities are provided as-is, (b) the Recipients assume all risks and Liability arising from or relating to their use of and reliance upon the Services and the Facilities and (c) each
Party and their respective Providers make no representation or warranty with respect thereto. EXCEPT AS EXPRESSLY SET FORTH HEREIN, EACH PARTY AND THEIR RESPECTIVE PROVIDERS HEREBY EXPRESSLY DISCLAIM ALL REPRESENTATIONS AND WARRANTIES REGARDING THE

  
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SERVICES AND THE FACILITIES, WHETHER EXPRESS OR IMPLIED, INCLUDING ANY REPRESENTATION OR WARRANTY IN REGARD TO QUALITY, PERFORMANCE, NONINFRINGEMENT, MISAPPROPRIATION, COMMERCIAL UTILITY, OR
MERCHANTABILITY OR FITNESS OF THE SERVICES AND FACILITIES FOR A PARTICULAR PURPOSE. 
 Section 4.02 Compliance with Laws and
Regulations. Each Party hereto shall be responsible for its own compliance with any and all Laws applicable to its performance under this Agreement. FOR THE AVOIDANCE OF DOUBT AND NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, EACH PARTY
EXPRESSLY DISCLAIMS ANY EXPRESS OR IMPLIED OBLIGATION OR WARRANTY WITH RESPECT TO THE SERVICES THAT COULD BE CONSTRUED TO REQUIRE PROVIDER TO DELIVER SERVICES HEREUNDER IN SUCH A MANNER TO ALLOW A RECIPIENT TO ITSELF COMPLY WITH ANY LAW APPLICABLE
TO THE ACTIONS OR FUNCTIONS OF SUCH RECIPIENT (OR ITS AFFILIATES). 
 Section 4.03 Limitations of Liability. 

(a) NEITHER PARTY SHALL HAVE ANY LIABILITY TO THE OTHER PARTY HERETO OR ANY THIRD PARTY FOR ANY INDIRECT, INCIDENTAL, EXEMPLARY, MORAL,
PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOSS OF DATA, LOSS OF USE, CLAIMS OF THIRD PARTIES OR LOST PROFITS, REVENUES OR OPPORTUNITIES OR LOST OR DELAYED GENERATION OR DIMINUTION IN VALUE OF ASSETS OR SECURITIES OR ANY LOSSES CALCULATED
BASED ON A MULTIPLE OF REVENUES, EARNINGS OR OTHER ECONOMIC OR FINANCIAL MEASURE BY THE OTHER PARTY OR ANY THIRD PARTY), ARISING IN ANY MANNER OUT OF OR IN CONNECTION WITH THIS AGREEMENT, ITS PERFORMANCE OR BREACH HEREOF, OR INCIDENT TO ANY
RECIPIENT’S OR THIRD PARTY’S USE OF (OR ANY INABILITY TO USE) THE SERVICES OR ANY OTHER INFORMATION OR MATERIALS PROVIDED TO THE RECIPIENTS HEREUNDER, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE, AND
WHETHER OR NOT THE PARTY HAS BEEN ADVISED OF OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF SUCH LOSSES. 
 (b) In no event will
either Party’s maximum aggregate liability to the other Party or any of its Affiliates or Representatives for any and all claims arising out of or in connection with this Agreement, its termination, or expiration, whether in contract, tort or
otherwise, be greater than an amount equal to the aggregate Service Charges received by the Parties in the preceding three (3) months as of the time of calculation, (or (i) if, as of the time of calculation, this Agreement has been in
effect for less than three (3) months, the period from the Distribution Date until the time of calculation, or (ii) if, as of the time of calculation, this Agreement has been terminated pursuant to Section 6.01,
the three (3) months prior to such termination). 

  
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 ARTICLE V 

INDEMNIFICATION 

Section 5.01 Indemnification by Recipient. Each Party as Recipient shall indemnify, defend, save and hold harmless the Providers
and any of their personnel, successors and assigns (collectively, the “Provider Indemnified Parties”), from and against any and all losses, damages, liabilities, claims, costs and expenses (collectively, “Losses”)
to the extent resulting from or arising out of any third party claim to the extent resulting from or arising out of the subject matter of this Agreement or any operations or activities of the Recipient affected by the Services provided to it,
including the use of (or inability to use) the Services, except to the extent resulting from or arising out of the Provider’s gross negligence or intentional misconduct in the provision of Services by the Provider hereunder. 

Section 5.02 Indemnification by Provider. Each Party as Provider shall indemnify, defend, save and hold harmless the Recipients
and any of their personnel, successors and assigns (collectively, the “Recipient Indemnified Parties” and, together with the Provider Indemnified Parties, the “Indemnified Parties”), from and against any and all
Losses to the extent resulting from or arising out of any third party claim to the extent resulting from or arising out of the Provider’s gross negligence or intentional misconduct in the provision of Services by the Provider hereunder. 

Section 5.03 Indemnification Procedures. The Indemnified Party shall provide the Party providing indemnification (the
“Indemnifying Party”) with reasonably prompt notice concerning the existence of the indemnifiable event, grant authority to the Indemnifying Party to defend or settle any related action or claim, and provide, at the Indemnifying
Party’s expense, such information, cooperation and assistance to the Indemnifying Party as may be reasonably necessary for the Indemnifying Party to defend or settle the claim or action; provided that failure to comply with the
foregoing shall not constitute a waiver of the right to indemnification and shall affect the Indemnifying Party’s indemnification obligations only to the extent that it is prejudiced by such failure or delay. Notwithstanding anything to the
contrary set forth herein, the Indemnified Party (a) may participate, at its own expense, in any defense and settlement directly or through counsel of its choice and (b) will not enter into any settlement agreement on terms that would
impact the Indemnifying Party’s rights or obligations, without the prior written consent of the Indemnifying Party. 
 ARTICLE VI

 TERMINATION 

Section 6.01 Termination.  

(a) Notwithstanding Section 2.03, this Agreement may be terminated earlier by Fortive: (i) if Vontier, any
Vontier Provider or any of the Vontier Group are in material breach of the terms of this Agreement and such breach is not corrected within thirty (30) days of a written notice from Fortive or the Fortive Transition Manager of such breach;
(ii) immediately upon written notice from Fortive or the Fortive Transition Manager, with respect to any Fortive 

  
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Provided Service or access to any Fortive Provided Facility, if the continued performance of such Fortive Provided Service or the provision of access to such Fortive Provided Facility would be a
violation of any Law or any Contract in effect prior to the Distribution Date; or (iii) upon any failure of Vontier to pay any outstanding Service Charge due to Fortive, except to the extent any part of an outstanding Service Charge is not paid
due to a good faith dispute of such Service Charge by Vontier. 
 (b) Notwithstanding Section 2.03, this Agreement
may be terminated earlier by Vontier: (i) if Fortive or any Fortive Provider is in material breach of the terms of this Agreement and such breach is not corrected within thirty (30) days of a written notice from Vontier or the Vontier
Transition Manager of such breach; (ii) immediately upon written notice from Vontier or the Vontier Transition Manager, with respect to any Vontier Provided Service or access to any Vontier Provided Facility, if the continued performance of
such Vontier Provided Service or the provision of access to such Vontier Provided Facility would be a violation of any Law or any Contract in effect prior to the Distribution Date; or (iii) upon the failure of Fortive to pay any outstanding
Service Charge due to Vontier, except to the extent any part of an outstanding Service Charge is not paid due to a good faith dispute of such Service Charge by Fortive. 

(c) Without prejudice to any rights with respect to a Force Majeure: (i) a Recipient may from time to time terminate this Agreement with
respect to any Service or access to Facility, in whole but not in part: (A) for any reason or no reason upon providing at least thirty (30) days’ prior written notice to the Provider’s Vontier Transition Manager or Fortive
Transition Manager, as applicable, of such termination (unless a longer notice period is specified in the Schedules attached hereto or in a third party Contract to provide Services or access to Facilities); (B) if the Provider of such Service or
Facilities has failed to perform any of its material obligations under this Agreement with respect to such Service or access to Facility, and such failure shall continue to exist thirty (30) days after receipt by the Provider’s Vontier
Transition Manager or Fortive Transition Manager, as applicable, of written notice of such failure from the Recipient’s Vontier Transition Manager or Fortive Transition Manager, as applicable; or (C) immediately upon mutual written
agreement of the Parties; and (ii) a Provider may terminate this Agreement with respect to one or more Services or access to Facilities, in whole but not in part, at any time upon prior written notice to the Recipient’s Vontier Transition
Manager or Fortive Transition Manager, as applicable, if the Recipient has failed to perform any of its material obligations under this Agreement relating to such Services or access to Facilities, and such failure shall be continued uncured for a
period of thirty (30) days after receipt by the Recipient’s Vontier Transition Manager or Fortive Transition Manager, as applicable, of a written notice of such failure from the Provider’s Vontier Transition Manager or Fortive
Transition Manager, as applicable. The relevant Schedule shall be updated to reflect any terminated Service. In the event that the effective date of the termination of any Service or access to Facility is a day other than at the end of a month, the
Service Charge associated with such Service or access to Facility shall be pro-rated appropriately. 

(d) A Recipient may from time to time request a reduction in part of the scope or amount of any Service or access to Facility. If requested to
do so by the Recipient’s Vontier Transition Manager or Fortive Transition Manager, as applicable, the other Party, through its Vontier Transition Manager or Fortive Transition Manager, as applicable, agrees to

  
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discuss in good faith appropriate reductions to the relevant Service Charges in light of all relevant factors including the costs and benefits to the Provider of any such reductions. The relevant
Schedule shall be updated to reflect any reduced Service agreed to in writing by the Parties. In the event that any Service or access to Facility is so reduced other than at the end of a month, the Service Charge associated with such Service or
access to Facility for the month in which such Service or access to Facility is reduced shall be pro-rated appropriately. 

(e) To the extent that a Recipient is not in compliance with Section 7.01(b) and such
non-compliance remains unremedied for a period of ten (10) days, the Provider may terminate the provision of any Services or access to Facilities provided under such third party Contract. 

Section 6.02 Effect of Termination. 

(a) Upon termination of any Service or access to any Facility pursuant to this Agreement, the Provider of the terminated Service or access to
the Facility or its Affiliate shall have no further obligation to provide the terminated Service or access to the Facility, and Fortive or Vontier, as applicable, shall have no obligation to pay any Service Charges relating to any such Service or
access to such Facility; provided that Fortive or Vontier, as applicable shall remain obligated to the other Party for the Service Charges owed and payable in respect of Services or access to Facilities provided prior to the effective
date of termination. In connection with termination of any Service or access to any Facility, the provisions of this Agreement not relating solely to such terminated Service or access to such Facility shall survive any such termination. 

(b) In connection with a termination of this Agreement, Article IV, Article V, this Section 6.02,
Article VIII, and Liability for all due and unpaid Service Charges shall continue to survive indefinitely. 
 Section 6.03
Force Majeure. 
 (a) No Party (or any Person acting on its behalf) shall have any Liability or responsibility for failure to fulfill
any obligation (other than a payment obligation) under this Agreement so long as and to the extent to which the fulfillment of such obligation is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure;
provided that (i) such Party (or such Person) shall have exercised commercially reasonable efforts to minimize the effect of Force Majeure on its obligations; and (ii) the nature, quality and standard of care that the
Provider shall provide in delivering a Service or providing access to a Facility after a Force Majeure shall be substantially the same as the nature, quality and standard of care that the Provider provides prior to the Force Majeure. In the event of
an occurrence of a Force Majeure, the Party whose performance is affected thereby shall give notice of suspension as soon as reasonably practicable to the other stating the date and extent of such suspension and the cause thereof, and such Party
shall resume the performance of such obligations as soon as reasonably practicable after the removal of the cause, and if the Provider is the Party so prevented then the Recipient shall not be obligated to pay the Service Charge for a Service or
Facility to the extent and for so long as such Service or Facility is not made available to the Recipient hereunder as a result of such Force Majeure. 

  
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 (b) During the period of a Force Majeure, the Recipient shall be entitled to seek an
alternative service provider at its own cost with respect to such Services or access to such Facilities and Fortive or Vontier, as applicable, shall be entitled to permanently terminate such Services or access to such Facilities (and shall be
relieved of the obligation to pay Service Charges for the provision of such Services or access to such Facilities throughout the duration of such Force Majeure or, in the event of such permanent termination, thereafter) if a Force Majeure shall
continue to exist for more than fifteen (15) consecutive days. 
 ARTICLE VII 

MANAGEMENT AND CONTROL 

Section 7.01 Cooperation.  

(a) During the Term, each Party shall, and shall cause its Affiliate Recipients to, use its commercially reasonable efforts to cooperate with
the relevant Provider and its Affiliates with respect to such Provider providing the Services and access to the Facilities and responding to such Provider’s reasonable requests for information related to the functionality or operation of the
Services and Facilities. Neither Party nor any of its Affiliates shall knowingly take any action which would substantially interfere with or substantially increase the cost of the other Party providing (or causing to be provided) any of the Services
or access to the Facilities. After the Distribution Date, each Party and its Affiliates shall use its commercially reasonable efforts to enable the other Party or its Affiliates to provide the Services and access the Facilities as soon as possible
after the Distribution Date. Without limiting the foregoing, each Party shall provide the relevant Provider with reasonable access (during reasonable business hours) to (i) records related to the provision of the Services and access to the
Facilities; and (ii) the relevant Party’s personnel and facilities for the purpose of training and consultation with respect to the Services and access to Facilities. 

(b) To the extent the Parties or a member of their respective Group have entered into any third party Contracts in connection with any of the
Services or access to the Facilities, the Recipients shall comply with the terms of such Contract to the extent the Recipients or their Vontier Transition Manager or Fortive Transition Manager, as applicable, have been informed of such terms. 

Section 7.02 Required Consents. Each Party shall use commercially reasonable efforts to obtain any and all third party Consents
necessary or advisable to allow the relevant Provider to provide the Services and access to the Facilities (the “Required Consents”); provided, however, that the costs of such third party Consents
shall be paid by the Recipient of the provision of such Services and access to such Facilities. Each Party shall provide written evidence of receipt of Required Consents to the other Party upon such other Party’s request. 

  
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 Section 7.03 Primary Points of Contact for Agreement. 

(a) Appointment and Responsibilities. Each Party shall appoint an individual to act as the primary point of operational contact for the
administration and operation of this Agreement, as follows: 
 (i) The individual appointed by Vontier as the primary point
of operational contact pursuant to this Section 7.03(a) (the “Vontier Transition Manager”) shall have overall responsibility for coordinating, on behalf of Vontier, all activities undertaken by Vontier and
its Providers, Affiliates and Representatives hereunder, including the performance of Vontier’s obligations hereunder, the coordinating of the provision of the Vontier Provided Services and access to the Vontier Provided Facilities with
Fortive, acting as a day-to-day contact with Fortive Transition Manager and making available to Fortive the data, facilities, resources and other support services from
Vontier required for Fortive Providers to be able to provide the Fortive Provided Services and access to the Fortive Provided Facilities in accordance with the requirements of this Agreement. Vontier may change Vontier Transition Manager from time
to time upon written notice to Fortive. Vontier shall use commercially reasonable efforts to provide at least thirty (30) days’ prior written notice of any such change. 

(ii) The individual appointed by Fortive as the primary point of operational contact pursuant to this
Section 7.03(a) (the “Fortive Transition Manager”) shall have overall operational responsibility for coordinating, on behalf of Fortive, all activities undertaken by Fortive and its Providers, Affiliates
and Representatives hereunder, including the performance of Fortive’s obligations hereunder, the coordinating of the provision of the Fortive Provided Services and access to the Fortive Provided Facilities with Vontier, acting as a day-to-day contact with Vontier Transition Manager and making available to Vontier the data, facilities, resources and other support services from Fortive required for Vontier
Providers to be able to provide the Vontier Provided Services and access to the Vontier Provided Facilities in accordance with the requirements of this Agreement. Fortive may change Fortive Transition Manager from time to time upon written notice to
Vontier. Fortive shall use commercially reasonable efforts to provide at least thirty (30) days’ prior written notice of any such change. 

(b) Review Meetings. Fortive Transition Manager and Vontier Transition Manager shall meet either
in-person at a mutually acceptable location or via telephone or video conference at least monthly to review Fortive’s and Vontier’s provision of the Services and access to the Facilities as required
under this Agreement. 
 Section 7.04 Steering Committee. 

(a) Size and Composition. Fortive shall appoint three (3) members of its management staff, and Vontier shall appoint three
(3) members of its management staff to serve on a steering committee (the “Steering Committee”). Either Party may change its Steering Committee members from time to time upon written notice to the other Party;
provided, however, that Fortive Transition Manager and Vontier Transition Manager shall at all times remain as members of the Steering Committee. In addition, the Parties may mutually agree to increase or decrease
the size, purpose or composition of the Steering Committee in an effort for the Providers to better provide, and for the Recipients to better utilize, the Services and access to the Facilities. 

  
 13 

 (b) Responsibilities. The Steering Committee’s responsibilities include: 

(i) generally overseeing the performance of each Party’s obligations under this Agreement; and 

(ii) making, and providing continuity for making, decisions for the Recipients with respect to the establishment,
prioritization and use of the Services and access to the Facilities. 
 (c) Meetings. The Steering Committee shall meet once a month
or at such other frequency as mutually agreed by the Parties. Each Steering Committee meeting shall be either in-person at a mutually acceptable location or via telephone or video conference. 

Section 7.05 Personnel.  

(a) The Provider of any Service or access to any Facility shall make available to the Recipient of such Service or access to such Facility
such personnel as may be reasonably necessary to provide such Service, in accordance with such Provider’s standard business practices. The Provider shall have the right, in its reasonable discretion, to (i) designate which personnel it
will assign to perform such Service, and (ii) remove and replace such personnel at any time. 
 (b) The Provider of any Service or
Facility shall be solely responsible for all salary, employment and other benefits of and Liabilities relating to the employment of persons employed by such Provider. In performing their respective duties hereunder, all such employees and
representatives of any Provider shall be under the direction, control and supervision of such Provider, and such Provider shall have the sole right to exercise all authority with respect to the employment (including termination of employment),
assignment and compensation of such employees and representatives. 
 Section 7.06 No Agency. Nothing in this Agreement shall be
deemed in any way or for any purpose to constitute any Party or its Affiliates acting as an agent of another unaffiliated Person in the conduct of such other Person’s business. A Provider of any Service or access to any Facility hereunder shall
act as an independent contractor and not as the agent of the Recipient or its Affiliates in performing such Service or providing access to such Facility. 

Section 7.07 Data Processing. The provisions of the Addenda attached hereto as Exhibit A and Exhibit B, as
applicable, shall govern the Processing of the Personal Data of the other Party in connection with the provision of Services hereunder. 

ARTICLE VIII 

MISCELLANEOUS 

Section 8.01 Treatment of Confidential Information. 

(a) The provisions of Section 6.5 of the Separation Agreement shall govern the treatment of Confidential Information hereunder. 

  
 14 

 (b) Each Party shall comply with all applicable state, federal and foreign privacy and data
protection Laws that are or that may in the future be applicable to the provision of Services hereunder. 
 Section 8.02 Entire
Agreement; Construction. This Agreement, including the Exhibits and Schedules shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course
of dealings and writings with respect to such subject matter. In the event of any inconsistency between this Agreement and any Schedule hereto, the Schedule shall prevail. In the event of any conflict between this Agreement and the Tax Matters
Agreement, the terms and conditions of the Tax Matters Agreement shall govern. 
 Section 8.03 Counterparts. This Agreement may
be executed in more than one counterpart, 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 each of the Parties. 

Section 8.04 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in English,
shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by email (followed by delivery of an original via overnight courier service) or by
facsimile with receipt confirmed (followed by delivery of an original via overnight courier service) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance
with this Section 8.04): 
 To Fortive: 

Fortive Corporation 
 6920
Seaway Blvd. 
 Everett, WA 98203 

Attn: General Counsel 

Facsimile: (425) 446-5007 

E-mail: Peter.Underwood@fortive.com 

To Vontier: 
 Vontier Corporation

 5420 Wade Park Boulevard, Suite 206 

Raleigh, NC 27607 
 Attn:
General Counsel 
 Facsimile: (336) 292-8871 

E-mail: Katie.rowen@vontier.com 

Section 8.05 Waivers. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be
in writing and signed by the Party giving such consent and shall be effective only against such Party (and its Group). No failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or privilege hereunder shall
operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or
privilege. 

  
 15 

 Section 8.06 Assignment. This Agreement shall not be assignable, in whole or in
part, directly or indirectly, by any Party hereto without the prior written consent of the other Party (not to be unreasonably withheld or delayed), and any attempt to assign any rights or obligations arising under this Agreement without such
consent shall be void. Notwithstanding the foregoing, this Agreement shall be assignable to (i) an Affiliate of a Party or (ii) a bona fide third party in connection with a merger, reorganization, consolidation or the sale of all or
substantially all the assets of a Party hereto so long as the resulting, surviving or transferee entity assumes all the obligations of the relevant Party hereto by operation of law or pursuant to an agreement in form and substance reasonably
satisfactory to the other Party; provided, however, that in the case of each of the preceding clauses (i) and (ii), no assignment permitted by this Section 8.06 shall release the
assigning Party from Liability for the full performance of its obligations under this Agreement. 
 Section 8.07 Successors and
Assigns. 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 and permitted assigns. 

Section 8.08 Payment Terms. Without the consent of the Party receiving any payment under this Agreement specifying otherwise, all
payments to be made by either Fortive or Vontier under this Agreement shall be made in US Dollars. Except as expressly provided herein, any amount which is not expressed in US Dollars shall be converted into US Dollars by using the exchange rate
published on Bloomberg at 5:00 pm Eastern Standard time (EST) on the day before the relevant date or in the Wall Street Journal on such date if not so published on Bloomberg. 

Section 8.09 Subsidiaries . Each of the Parties shall cause to be performed, and hereby guarantees the performance of, all
actions, agreements and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party at and after the Distribution Date, to the extent such Subsidiary remains a Subsidiary of
the applicable Party. 
 Section 8.10 Third Party Beneficiaries. This Agreement is solely for the benefit of the Parties and
should not be deemed to confer upon third parties any remedy, claim, Liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement. 

Section 8.11 Titles and Headings. Titles and headings to Articles and Sections herein are inserted for the convenience of
reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 Section 8.12
Exhibits and Schedules. The Exhibits and Schedules 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. 

  
 16 

 Section 8.13 Governing Law. This Agreement and any dispute arising out of, in
connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof. 

Section 8.14 Dispute Resolution. The provisions of Article VIII of the Separation Agreement shall govern any Dispute under or in
connection with this Agreement. 
 Section 8.15 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 and therein shall not in any way be affected or impaired thereby. 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. 

Section 8.16 Interpretation. 

(a) The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard
to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted. 

(b) When a reference is made in this Agreement to an Article, Section or Exhibit such reference shall be to an Article or Section of, or
Exhibit to, this Agreement unless otherwise indicated. Wherever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”
References to “dollar” or “$” contained herein are to United States Dollars (unless otherwise specified). The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import,
when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. 
 [Signature
page follows] 

  
 17 

 EXECUTION VERSION 

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

			
	FORTIVE CORPORATION
		
	By:	 	 /s/ Rajesh Yadava

		 	Name: Rajesh Yadava
		 	Title:   Vice President, Treasurer
	
	VONTIER CORPORATION
		
	By:	 	 /s/ Kathryn K. Rowen             

		 	Name: Kathryn K. Rowen
		 	Title:   Senior Vice President, General CounselEX-10.4

 Exhibit 10.4 

EXECUTION VERSION 

INTELLECTUAL PROPERTY MATTERS AGREEMENT 

by and between 
 FORTIVE
CORPORATION 
 and 
 VONTIER
CORPORATION 
 Dated as of October 8, 2020 

 INTELLECTUAL PROPERTY MATTERS AGREEMENT 

This INTELLECTUAL PROPERTY MATTERS AGREEMENT (this “Agreement”), dated as of October 8, 2020, is entered into by and
between Fortive Corporation (“Fortive”), a Delaware corporation, and Vontier Corporation (“Vontier”), a Delaware corporation. “Party” or “Parties” means Fortive or Vontier,
individually or collectively, as the case may be. 
 W I T N E S S E T H: 

WHEREAS, the Parties have entered into that certain Separation and Distribution Agreement, dated as of the date hereof (the
“Separation Agreement”); and 
 WHEREAS, as of the Distribution Date, the Fortive Group may own certain Patents, Copyrights
and Know-How that are necessary or used in the Vontier Business as of the Distribution Date, and the Vontier Group may own certain Patents, Copyrights and Know-How that
are necessary or used in the Fortive Retained Businesses as of the Distribution Date, and Fortive wishes to grant to Vontier, and Vontier wishes to grant to Fortive, a license to such Intellectual Property in accordance with the terms hereof. 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties
hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 Definitions. 

(a) Unless otherwise defined herein, all capitalized terms used herein shall have the same meanings as in the Separation Agreement. 

(b) The following capitalized terms used in this Agreement shall have the meanings set forth below: 

“Copyrights” shall mean copyrights and copyrightable subject matter, excluding
Know-How. 
 “FBS” shall have the meaning set forth in the FBS License Agreement.

 “FBS License Agreement” shall mean the FBS License Agreement of even date herewith by and between Fortive and Vontier.

 “Fortive Field of Use” shall mean (a) all fields outside of the Vontier Business and (b) natural evolutions or
extensions thereof. 

  
 2 

 “Fortive Licensed Copyrights” shall mean the Copyrights that are
(a) owned or Licensable by the Fortive Group as of the Distribution Date and (b) used in the Vontier Business as of the Distribution Date. 

“Fortive Licensed IP” shall mean the Fortive Licensed Copyrights, Fortive Licensed
Know-How and Fortive Licensed Patents, excluding FBS (as licensed under the FBS License Agreement). 

“Fortive Licensed Know-How” shall mean the
Know-How that is (a) owned or Licensable by the Fortive Group as of the Distribution Date and (b) used in the Vontier Business as of the Distribution Date. 

“Fortive Licensed Patents” shall mean (a) the Patents that are (i) owned or Licensable by the Fortive Group as of
the Distribution Date and (ii) used in the Vontier Business as of the Distribution Date, and (b) all Valid Claims of other Patents that are owned by the Fortive Group that claim priority to the Patents described in clause
(a) to the extent such Valid Claims are fully supported by such Patents. 

“Know-How” shall mean trade secrets, and all other confidential or proprietary
information, know-how, inventions, processes, formulae, models, and methodologies, but in each case excluding Patents. 

“Licensable” means, with respect to any Intellectual Property, the right to grant sublicenses to a Person within the scope of
the licenses set forth in Section 2.01 or Section 2.02, as applicable, without (i) the requirement to obtain consent from, give notice to, or take any other action with respect to any Third
Party or (ii) incurring fees, royalties, Liabilities or other costs in connection with such sublicense. 
 “Licensed
IP” shall mean (a) the Vontier Licensed IP, as licensed to Fortive hereunder and (b) the Fortive Licensed IP, as licensed to Vontier hereunder. 

“Licensee” shall mean (a) Vontier, with respect to the Fortive Licensed IP and (b) Fortive, with respect to the
Vontier Licensed IP. 
 “Licensee Field of Use” shall mean (a) with respect to Vontier, the Vontier Field of Use, and
(b) with respect to Fortive, the Fortive Field of Use. 
 “Licensor” shall mean (a) Vontier, with respect to the
Vontier Licensed IP, and (b) Fortive, with respect to the Fortive Licensed IP. 
 “Licensor IP” shall mean
(a) with respect to Vontier, the Vontier Licensed IP and (b) with respect to Fortive, the Fortive Licensed IP. 

“Patents” shall mean patents and patent applications, and any and all related national or international counterparts thereto,
including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions thereof. 

  
 3 

 “Third Party” means any Person other than Fortive, Vontier, and their
respective Affiliates. 
 “Valid Claim” means a claim of an issued and unexpired Patent that (i) has not been revoked
or held unenforceable or invalid by a decision of a court or other Governmental Entity of competent jurisdiction from which no appeal can be taken or has been taken within the time allowed for appeal and (ii) has not been abandoned, disclaimed,
denied, or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise in such country. 
 “Vontier Field of
Use” shall mean (a) the field of the Vontier Business and (b) natural evolutions or extensions thereof. 

“Vontier Licensed Copyrights” shall mean the Copyrights that are (a) owned or Licensable by the Vontier Group as of the
Distribution Date and (b) used in the Fortive Retained Business as of the Distribution Date. 
 “Vontier Licensed IP”
shall mean the Vontier Licensed Copyrights, Vontier Licensed Know-How and Vontier Licensed Patents. 

“Vontier Licensed Know-How” shall mean the
Know-How that is (a) owned or Licensable by the Vontier Group as of the Distribution Date and (b) used in the Fortive Retained Business as of the Distribution Date. 

“Vontier Licensed Patents” shall mean (a) the Patents that are (i) owned or Licensable by the Vontier Group as of
the Distribution Date and (ii) used in the Fortive Retained Business as of the Distribution Date, and (b) all Valid Claims of other Patents that are owned by the Vontier Group that claim priority to the Patents described in clause
(a) to the extent such Valid Claims thereof are fully supported by such Patents. 
 ARTICLE II 

GRANTS OF RIGHTS 

Section 2.01 License to Vontier of Fortive Licensed IP. Subject to the terms and conditions of this
Agreement, Fortive hereby grants, and shall cause its Affiliates to grant, to Vontier a non-exclusive, royalty-free, fully paid-up, irrevocable, sublicensable (in
connection with activities in the Vontier Field of Use by Vontier and its Affiliates but not for the independent use of Third Parties), and worldwide license to the Fortive Licensed IP in the Vontier Field of Use (“Vontier
License”). Subject to the terms and conditions of this Agreement, the Vontier License shall include the right to exercise any and all rights in the Fortive Licensed IP in the Vontier Field of Use, including the right to use, practice, copy,
perform, render, develop, modify, and make derivative works of the Fortive Licensed IP within the Vontier Field of Use and to make, have made, use, sell, offer for sale, export and import any products, services or technologies, in each case with
respect to the Vontier Field of Use. 

  
 4 

 Section 2.02 License to Fortive of Vontier Licensed
IP. Subject to the terms and conditions of this Agreement, Vontier hereby grants, and shall cause its Affiliates to grant, to Fortive a non-exclusive, royalty-free, fully
paid-up, irrevocable, sublicensable (in connection with activities in the Fortive Field of Use by Fortive and its Affiliates but not for the independent use of Third Parties), and worldwide license to the
Vontier Licensed IP solely within the Fortive Field of Use (“Fortive License”). Subject to the terms and conditions of this Agreement, the foregoing license shall include the right to exercise any and all rights in the Vontier
Licensed IP in the Fortive Field of Use, including the right to use, practice, copy, perform, render, develop, modify, and make derivative works of the Vontier Licensed IP within the Fortive Field of Use and to make, have made, use, sell, offer for
sale, export and import any products, services or technologies, in each case with respect to the Fortive Field of Use. 
 Section 2.03
Limitations. Notwithstanding anything to the contrary herein, the licenses hereunder are subject to any rights of or obligations owed to any Third Party under any Contracts existing as of the Distribution Date between Licensor or its
Affiliates and any such Third Party. 
 Section 2.04 Reservation of Rights. Each Party reserves its and its Affiliates’
rights in and to all Intellectual Property that is not expressly licensed hereunder. Without limiting the foregoing, this Agreement and the licenses and rights granted herein do not, and shall not be construed to, confer any rights upon either
Party, its Affiliates, or its sublicensees by implication, estoppel, or otherwise as to any of the other Party’s or its Affiliates’ Intellectual Property, except as otherwise expressly set forth herein. 

Section 2.05 FBS. Notwithstanding anything to the contrary herein, no rights under or with respect to FBS are granted pursuant to
this Agreement. 
 ARTICLE III 

INTELLECTUAL PROPERTY OWNERSHIP 

Section 3.01 Ownership.  

(a) As between the Parties, Licensee acknowledges and agrees that (i) Licensor owns the Licensor IP, (ii) none of Licensee, its
Affiliates or its sublicensees, will acquire any rights in the Licensor IP, except for the licenses and sublicenses granted pursuant to Sections 2.01 and 2.02, and (iii) Licensee shall not, and shall cause its Affiliates and its
sublicensees to not, represent that they have an ownership interest in any of the Licensor IP. 
 (b) As between the Parties, each Party
shall own all improvements and modifications made by or on behalf of such Party with respect to the Licensed IP; provided that, with respect to Licensee, such improvements and modifications shall not include, and shall be subject to
the provisions of this Agreement as they concern, the Licensed IP to which such improvements or modifications are made. 
 ARTICLE IV

 PROSECUTION, MAINTENANCE AND ENFORCEMENT 

Section 4.01 Responsibility. Subject to Section 4.02, Licensor shall be solely responsible for filing,
prosecuting, and maintaining all Patents within the Licensor IP, in Licensor’s sole discretion. Licensor shall be responsible for any costs associated with filing, prosecuting, and maintaining such Patents. 

  
 5 

 Section 4.02 Defense and Enforcement. Licensor shall have the sole right, but
not the obligation, to elect to bring an Action or enter into settlement agreements regarding the Licensor IP, at Licensor’s sole cost and expense. 

Section 4.03 No Additional Obligations. This Agreement shall not obligate either Party to disclose or deliver to the other Party,
or maintain, register, prosecute, pay for, enforce, or otherwise manage any Intellectual Property except as expressly set forth herein. 

ARTICLE V 

DISCLAIMERS; LIMITATIONS ON LIABILITY AND REMEDIES 

Section 5.01 Disclaimer of Warranties. Except as expressly set forth herein, the Parties acknowledge and agree that (a) the
Licensor IP is provided as-is, (b) the Licensee assumes all risks and Liability arising from or relating to its use of and reliance upon the Licensor IP and (c) each Party makes no representation or
warranty with respect thereto. EXCEPT AS EXPRESSLY SET FORTH HEREIN, EACH PARTY HEREBY EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE LICENSOR IP, WHETHER EXPRESS OR IMPLIED, INCLUDING ANY REPRESENTATION OR WARRANTY IN REGARD
TO QUALITY, PERFORMANCE, NONINFRINGEMENT, MISAPPROPRIATION, COMMERCIAL UTILITY, OR MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

Section 5.02 Compliance with Laws and Regulations. Each Party hereto shall be responsible for its own compliance with any and all
Laws applicable to its performance under this Agreement. FOR THE AVOIDANCE OF DOUBT AND NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, EACH PARTY EXPRESSLY DISCLAIMS ANY EXPRESS OR IMPLIED OBLIGATION OR WARRANTY WITH RESPECT TO THE LICENSOR IP
THAT COULD BE CONSTRUED TO REQUIRE LICENSOR TO PROVIDE LICENSOR IP HEREUNDER IN SUCH A MANNER TO ALLOW LICENSEE TO ITSELF COMPLY WITH ANY LAW APPLICABLE TO THE ACTIONS OR FUNCTIONS OF SUCH LICENSEE (OR ITS AFFILIATES). 

ARTICLE VI 

LIABILITY AND INDEMNIFICATION 

Section 6.01 Procedures. The provisions of Article V of the Separation Agreement shall govern any and all Liabilities or
indemnification (including any Indemnifiable Losses) under or in connection with this Agreement, whether arising from statute, principle of common or civil law, principles of strict liability, tort, contract or otherwise under or in connection with
this Agreement. 

  
 6 

 ARTICLE VII 

CONFIDENTIALITY 

Section 7.01 Disclosure and Use Restrictions. 

(a) Notwithstanding any termination of this Agreement, each of Fortive and Vontier shall hold, and shall cause their Affiliates and its and
their respective officers, employees, agents, consultants and advisors to hold, in strict confidence (and not to disclose or release or use, including for any ongoing or future commercial purpose, without the prior written consent of the Party to
whom the Confidential Information relates (which may be withheld in such Party’s sole and absolute discretion, except where disclosure is required by applicable Law)), any and all Confidential Information concerning or belonging to the other
Party or its Affiliates; provided that each Party may disclose, or may permit disclosure of, such Confidential Information (i) to its respective auditors, attorneys, financial advisors, bankers and other appropriate consultants
and advisors who have a need to know such Information for auditing and other non-commercial purposes and are informed of the obligation to hold such Information confidential and in respect of whose failure to
comply with such obligations, the applicable Party will be responsible, (ii) if any Party or any of its respective Affiliates is required or compelled to disclose any such Confidential Information by judicial or administrative process or by
other requirements of Law or stock exchange rule or is advised by outside counsel in connection with a proceeding brought by a Governmental Entity that it is advisable to do so, (iii) as required in connection with any legal or other proceeding
by one Party against any other Party or in respect of claims by one Party against the other Party brought in a proceeding, (iv) as necessary in order to permit a Party to prepare and disclose its financial statements in connection with any
regulatory filings or Tax Returns, (v) as necessary for a Party to enforce its rights or perform its obligations under this Agreement, (vi) to Governmental Entities in accordance with applicable procurement regulations and contract
requirements or (vii) to other Persons in connection with their evaluation of, and negotiating and consummating, a potential strategic transaction, to the extent reasonably necessary in connection therewith, provided an appropriate and
customary confidentiality agreement has been entered into with the Person receiving such Confidential Information. Notwithstanding the foregoing, in the event that any demand or request for disclosure of Confidential Information is made by a Third
Party pursuant to clause (ii), (iii), (v) or (vi) above, each Party, as applicable, shall promptly notify (to the extent permissible by Law) the Party to whom the Confidential Information relates of the existence of such request, demand or
disclosure requirement and shall provide such affected Party a reasonable opportunity to seek an appropriate protective order or other remedy, which such Party will cooperate in obtaining to the extent reasonably practicable. In the event that such
appropriate protective order or other remedy is not obtained, the Party which faces the disclosure requirement shall furnish only that portion of the Confidential Information that is required to be disclosed and shall take commercially reasonable
steps to ensure that confidential treatment is accorded such Confidential Information. 
 (b) Each Party acknowledges that it and the other
members of its Group may have in its or their possession confidential or proprietary Information of Third Parties that was received under confidentiality or non-disclosure agreements with such Third Party
while such Party and/or members of its Group were part of the Fortive Group. Each Party shall comply, 

  
 7 

 
and shall cause the other members of its Group to comply, and shall cause its and their respective officers, employees, agents, consultants and advisors (or potential buyers) to comply, with all
terms and conditions of any such third-party agreements entered into prior to the Distribution Date, with respect to any confidential and proprietary Information of Third Parties to which it or any other member of its Group has had access. 

(c) Notwithstanding anything to the contrary set forth herein, (i) the Parties shall be deemed to have satisfied their obligations
hereunder with respect to the Confidential Information of the other Party if they exercise at least the same degree of care that applies to Fortive’s confidential and proprietary information pursuant to policies in effect as of the Distribution
Date and (ii) confidentiality obligations provided for in any Contract between each Party or its Affiliates and their respective employees shall remain in full force and effect. Notwithstanding anything to the contrary set forth herein,
Confidential Information of any Party in the possession of and used by the other Party as of the Distribution Date may continue to be used by such Party in possession of the Confidential Information in and only in the operation of the Vontier
Business (in the case of the Vontier Group) or the Fortive Retained Business (in the case of the Fortive Group). 
 (d) The Parties agree
that irreparable damage may occur in the event that the provisions of this Section 7.01 were not performed in accordance with their specific terms. Accordingly, it is hereby agreed that the Parties shall be entitled to seek
an injunction or injunctions to enforce specifically the terms and provisions hereof in any court having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity. 

Section 7.02 Survival. The confidentiality and nondisclosure obligations of this Article VII shall survive any termination
of this Agreement. 
 ARTICLE VIII 

TERM 

Section 8.01 Term. The term of this Agreement shall commence as of the Distribution Date and shall continue in perpetuity,
provided that, (a) the license granted to Vontier in Section 2.01 with respect to the Fortive Licensed Patents expires upon expiration of the last-to-expire of the Valid Claims included in the Fortive Licensed Patents, and (b) the license granted to Fortive in Section 2.02 with respect to the Vontier Licensed Patents
expires upon expiration of the last-to-expire of the Valid Claims included in the Vontier Licensed Patents. Except as otherwise expressly set forth in
Section 8.02, this Agreement may not be terminated unless agreed to in writing by the Parties. 

Section 8.02 Effect of Expiration and Termination; Accrued Rights; Survival. 

(a) Accrued Rights. Upon the earlier of expiration or termination of this Agreement, in part or in its entirety, all licenses and
rights granted to Licensee with respect to the Intellectual Property to which such expiration or termination relates shall immediately cease. Expiration and termination of this Agreement, in part or in its entirety, shall be without prejudice to any
rights which shall have accrued to the benefit of either Party prior to such expiration and termination (as applicable). 

  
 8 

 (b) Termination of Sublicenses. Any sublicenses that have been granted by a Licensee
to a sublicensee with respect to the Intellectual Property subject to expiration or termination of this Agreement, in part or in its entirety, shall automatically terminate upon such expiration or termination. 

(c) Return/Destruction of Materials. Upon termination of this Agreement, Licensee shall, and shall ensure that its sublicensees,
within fifteen (15) Business Days of any request by Licensor, return to Licensor, or at Licensor’s election destroy, all of such Licensor’s Know-How licensed hereunder that is in their
possession or control as of the date of termination. 
 (d) Surviving Obligations. Expiration and termination of this Agreement, in
part or in its entirety, shall not terminate Licensee’s obligation to pay the Pass-Through Royalties and all other amounts for which Licensee is obligated to reimburse Licensor hereunder that have accrued prior to the effective date of such
expiration or termination (as applicable). The following provisions of this Agreement, together with all other provisions of this Agreement that expressly specify that they survive, shall survive expiration and termination of this Agreement, in part
or in its entirety: Section 2.04, Section 5.01, this Section 8.02, and Articles III, VI, VII and IX. 

ARTICLE IX 

MISCELLANEOUS 

Section 9.01 Entire Agreement; Construction. This Agreement, including the Exhibits and Schedules, shall constitute the entire
agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event of any inconsistency between this
Agreement and any Schedule hereto, the Schedule shall prevail. In the event of any conflict between this Agreement and the Tax Matters Agreement, the terms and conditions of the Tax Matters Agreement shall govern. 

Section 9.02 Counterparts. This Agreement may be executed in more than one counterpart, 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 each of the Parties. 

Section 9.03 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in English,
shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by email (followed by delivery of an original via overnight courier service) or by
facsimile with receipt confirmed (followed by delivery of an original via overnight courier service) 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 9.03): 

  
 9 

 If to Fortive: 

Fortive Corporation 
 6920
Seaway Blvd. 
 Everett, WA 98203 

Attn: General Counsel 

Facsimile: (425) 446-5007 

E-mail: Peter.Underwood@fortive.com 

If to Vontier: 
 Vontier
Corporation 
 5420 Wade Park Boulevard, Suite 206 

Raleigh, NC 27607 
 Attn:
General Counsel 
 Facsimile: (336) 292-8871 

E-mail: Katie.rowen@vontier.com 

Section 9.04 Waivers. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be
in writing and signed by the Party giving such consent and shall be effective only against such Party (and its Group). No failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or privilege hereunder shall
operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or
privilege. 
 Section 9.05 Assignment. This Agreement shall not be assignable, in whole or in part, directly or indirectly, by
any Party hereto without the prior written consent of the other Party (not to be unreasonably withheld or delayed), and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding
the foregoing, this Agreement shall be assignable, in whole or in part, to (i) an Affiliate of a Party or (ii) a bona fide Third Party in connection with a merger, reorganization, consolidation or the sale of assets of a Party or its
Affiliates related to this Agreement so long as the resulting, surviving or transferee entity assumes all the obligations of the relevant Party. 

Section 9.06 Successors and Assigns. 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 and permitted assigns. 

Section 9.07 Subsidiaries. Each of the Parties shall cause to be performed, and hereby guarantees the performance of, all actions,
agreements and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party at and after the Distribution Date, to the extent such Subsidiary remains a Subsidiary of the
applicable Party. 
 Section 9.08 Third Party Beneficiaries. This Agreement is solely for the benefit of the Parties and should
not be deemed to confer upon Third Parties any remedy, claim, Liability, reimbursement, claim of Action or other right in excess of those existing without reference to this Agreement. 

  
 10 

 Section 9.09 Titles and Headings. Titles and headings to Articles and Sections
herein are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

Section 9.10 Exhibits and Schedules. The Exhibits and Schedules 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. 
 Section 9.11 Governing Law. This Agreement and any
dispute arising out of, in connection with or relating to this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof. 

Section 9.12 Dispute Resolution. The provisions of Article VIII of the Separation Agreement shall govern any Dispute under or in
connection with this Agreement. 
 Section 9.13 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 and therein shall not in any way be affected or impaired thereby. 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. 

Section 9.14 Interpretation. 

(a) The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard
to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted. 

(b) When a reference is made in this Agreement to an Article, Section or Exhibit, such reference shall be to an Article or Section of, or an
Exhibit to, this Agreement unless otherwise indicated. Wherever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”
The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement.

 [Signature page follows] 

  
 11 

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

			
	FORTIVE CORPORATION
		
	By:	 	 /s/ Rajesh Yadava

		 	Name: Rajesh Yadava
		 	Title: Vice President, Treasurer
	
	VONTIER CORPORATION
		
	By:	 	 /s/ Kathryn K. Rowen

		 	Name: Kathryn K. Rowen
		 	Title: Senior Vice President, General Counsel

 [Intellectual Property Matters Agreement Signature Page]

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