Document:

EX-10.6

 Exhibit 10.6 
  

 
 INDEMNIFICATION AGREEMENT 

AGREEMENT, effective as of _______________, between Crane Company, a Delaware corporation (the “Company”), and
__________________________ (“Indemnitee”). 
 WHEREAS, both the Company and Indemnitee recognize the increased risk of
litigation and other claims being asserted against directors and officers of public companies at a time when it has become increasingly difficult to obtain adequate insurance coverage at reasonable costs; 

WHEREAS, in recognition of Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s
continued service to the Company in an effective manner, the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the full extent (whether partial or complete) permitted by law and as
set forth in this Agreement, and, to the extent insurance is maintained, for the continued coverage of Indemnitee under the Company’s directors’ and officers’ liability insurance policies, regardless of any future change in the
Certificate of Incorporation, Bylaws, composition of the Board of Directors, or structure of the Company; 
 NOW, THEREFORE, in
consideration of the premises and of Indemnitee’s service to the Company, directly or indirectly, and intending to be legally bound hereby, the parties hereto agree as follows: 

1. In the event Indemnitee was, is, or becomes a party to or a witness or other participant in, or is threatened to be made a party to or a
witness or other participant in, any threatened, pending or completed action, suit or proceeding, or any inquiry or investigation, whether conducted by the Company or any other party, that Indemnitee in good faith believes might lead to any such
action, suit or proceeding, whether civil, criminal, administrative, investigative or otherwise (“Claim”) by reason of (or arising in part out of) the fact that Indemnitee is or was a director, officer, employee, agent or fiduciary of the
Company, or is or was serving at the request of the Company as a director, officer, employee, trustee, agent or fiduciary of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of anything
done or not done by Indemnitee in any such capacity (an “Indemnifiable Event”), the Company shall indemnify Indemnitee to the full extent permitted by law (the determination of which shall be made by the Reviewing Party referred to below)
as soon as practicable but in any event no later than thirty days after written demand is presented to the Company, against any and all expenses (including attorneys’ fees and all other costs, expenses and obligations paid or incurred in
connection with investigating, preparing for and defending or participating in the defense of (including on appeal) any Claim relating to any Indemnifiable Event) (collectively “Expenses”), judgments, fines, penalties and amounts paid in
settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such judgments, fines, penalties or amounts paid in settlement) of such Claim and, if so requested by Indemnitee, the Company shall
advance 

 (within two business days of such request) any and all such Expenses to Indemnitee; provided, however, that
(i) the foregoing obligation of the Company shall not apply to a Claim that was commenced by the Indemnitee without the prior approval of the Board of Directors of the Company unless the Claim was commenced after a Change in Control (as defined
in Section 5 herein); (ii) the foregoing obligation of the Company shall be subject to the condition that an appropriate person or body (the “Reviewing Party”) shall not have determined (in a written opinion in any case in which the
special, independent counsel referred to in Section 4 hereof is involved) that Indemnitee would not be permitted to be indemnified for such Expenses under applicable law; and (iii) if, when and to the extent that the Reviewing Party
determines that Indemnitee would not be permitted to be indemnified for such Expenses under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore
paid (unless Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, in which event Indemnitee shall not be required to so reimburse the
Company until a final judicial determination requiring such reimbursement is made with respect thereto as to which all rights of appeal therefrom have been exhausted or lapsed) and the Company shall not be obligated to indemnify or advance any
additional amounts to Indemnitee under this Agreement (unless there has been a determination by a court of competent jurisdiction that the Indemnitee would be permitted to be so indemnified or entitled to such expense advances under applicable law).

 2. If there has not been a Change in Control of the Company (as hereinafter defined), the Reviewing Party shall be (1) a quorum of
the Board of Directors consisting of directors who are not parties to the action, suit or proceeding acting by majority vote, or (2) if such a quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs,
independent legal counsel by the use of a written opinion or (3) the stockholders. If there has been a Change in Control of the Company, the Reviewing Party shall be the special, independent counsel referred to in Section 4 hereof. 

3. If Indemnitee has not been indemnified by the expiration of the foregoing thirty-day period or
received expense advances or if the Reviewing Party determines that Indemnitee would not be permitted to be indemnified or be entitled to receive expense advances within two days of the request therefor in whole or in part under the applicable law,
Indemnitee shall have the right to commence litigation seeking from the court a finding that Indemnitee is entitled to indemnification and expense advances or enforcement of Indemnitee’s entitlement to indemnification and expense advances or
challenging any determination by the Reviewing Party or any aspect thereof that Indemnitee is not entitled to be indemnified or receive expense advances and the burden of proving that indemnification or advancement of expenses is not appropriate
shall be on the Company; any determination by the Reviewing Party in favor of Indemnitee shall be conclusive and binding on the Company, unless facts supplied by Indemnitee which form the basis for the determination are subsequently determined to
have been materially incorrect at the time supplied. Indemnitee agrees to bring any such litigation in any court in the states of New York or Delaware having subject matter jurisdiction thereof and in which venue is proper, and the Company hereby
consents to service of process and to appear in any such proceeding. 

  
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 4. The Company agrees that if there is a Change in Control of the Company (as hereinafter
defined), then with respect to all matters thereafter arising concerning the rights of Indemnitee to indemnity payments and expense advances under this Agreement or any other agreement or Bylaws now or hereafter in effect relating to Claims for
Indemnifiable Events, the Company shall seek legal advice only from special, independent counsel selected by Indemnitee who a majority of the disinterested Directors approves (which approval shall not be unreasonably withheld), and who has not
otherwise performed services for the Company or Indemnitee. Such counsel, among other things, shall determine whether and to what extent Indemnitee is permitted to be indemnified or is entitled to expense advances under applicable law and shall
render its written opinion to the Company and Indemnitee to such effect. The Company agrees to pay the reasonable fees of the special, independent counsel referred to above and to fully indemnify such counsel against any and all expenses (including
attorneys’ fees), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto except for willful misconduct or gross negligence. 

5. For purposes of this Agreement, (a) “Change in Control of the Company” shall be deemed to have occurred if (i) any
“person” (as such term is used in Sections 13(d)(3) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, is or becomes the
beneficial owner (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the Company’s then outstanding
securities, or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Company and any new director whose election by the Board of Directors or nomination for
election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election
or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a
merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity)
at least 80% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or if the stockholders of the Company approve a plan of complete liquidation of
the Company or an agreement for the sale or disposition by the Company of all or substantially all the Company’s assets. 
 6. To the
extent Indemnitee is successful in such proceeding, the Company shall indemnify Indemnitee against any and all expenses (including attorneys’ fees) which are incurred by the Indemnitee in connection with any claim asserted or action brought by
Indemnitee for (i) indemnification or advance payment of Expenses by the Company under this Agreement or any other agreement or Company Bylaws now or hereafter in effect relating to Claims for Indemnifiable Events and/or (ii) recovery
under any directors’ and officers’ liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance payment of Expenses or insurance recovery,
as the case may be. 

  
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 7. If Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of the Expenses, judgments, fines, penalties and amounts paid in settlement of any Claim but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof
to which Indemnitee is entitled. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in the defense of any Claim relating in whole or in part to any Indemnifiable Event
or in defense of any issue or matter therein, including dismissal without prejudice, Indemnitee shall be indemnified against all Expenses incurred in connection therewith. 

8. For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or
conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that Indemnitee is
not entitled to indemnification or expense advance or that indemnification or expense advance is not permitted by applicable law. 
 9. The
Company represents that it presently has in force and effect Directors’ and Officers’ Liability Insurance on behalf of Indemnitee against certain customary liabilities which may be asserted against or incurred by Indemnitee. The Company
hereby agrees that, so long as Indemnitee shall continue to serve in a capacity referred to in Section 1 hereof, and thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that Indemnitee served in any capacity referred to in Section 1 hereof, the Company shall purchase and maintain in effect for the benefit of Indemnitee
such insurance providing, in all respects, coverage at least comparable to that presently provided; provided, however, if, in the business judgment of the then Board, either (a) the premium cost for such insurance is substantially
disproportionate to the amount of coverage, or (b) the coverage provided by such insurance is so limited by exclusions that there is insufficient benefit from such insurance, then and in that event the Company shall not be required to maintain
such insurance but shall and hereby agrees to the full extent permitted by law to hold harmless and indemnify Indemnitee to the fullest extent of the coverage which would otherwise have been provided for the benefit of Indemnitee. 

10. (a) In the event of any changes after the date of this Agreement in any applicable law, statute, or rule which expands the right of the
Company to indemnify a person serving in a capacity referred to in Section 1 hereof, such change shall be within the purview of Indemnitee’s rights, and the Company’s obligations, under this Agreement. In the event of any changes in
any applicable law, statute, or rule which narrow the right of the Company to indemnify a person serving in a capacity referred to in Section 1 hereof, such changes, to the extent not otherwise required by such law, statute or rule to be
applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations hereunder. 

  
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 (b) The indemnification provided by this Agreement shall not be deemed exclusive of any
rights to which Indemnitee may be entitled under the Company’s Certificate of Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested directors, laws and regulations in effect now or in the future, or otherwise, both
as to action in Indemnitee’s official capacity and as to action in another capacity while holding such office. 
 11. If the
indemnification provided in Section 1 is unavailable and may not be paid to Indemnitee because such indemnification is not permitted by law, then in respect of any threatened, pending or completed action, suit or proceeding in which the Company
is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall contribute to the full extent permitted by law, to the amount of expenses, judgments, fines (including excise taxes and penalties) and
amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on the one hand and Indemnitee on the other hand
from the transaction from which such action, suit or proceeding arose, and (ii) the relative fault of the Company on the one hand and of Indemnitee on the other in connection with the events which resulted in such expenses, judgments, fines or
settlement amounts, as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of Indemnitee on the other shall be determined by reference to, among other things, the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such expenses, judgments, fines or settlement amounts. The Company agrees that it would not be just and equitable if contribution pursuant to this
paragraph were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations. 

12. All obligations of the Company contained herein shall continue during the period Indemnitee serves in a capacity referred to in
Section 1 hereof of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Claim relating to an Indemnifiable Event. 

13. (a) Promptly after receipt by Indemnitee of notice of the commencement of any Claim relating to an Indemnifiable Event or proceeding in
which Indemnitee is made or is threatened to be made a party or a witness, Indemnitee shall notify the Company of the commencement of such Claim; but the omission so to notify the Company shall not relieve the Company from any obligation it may have
to indemnify or advance expenses to Indemnitee otherwise than under this Agreement. 
 (b) Indemnitee shall not settle any claim or action
in any manner which would impose on the Company any penalty, constraint, or obligation to hold harmless or indemnify Indemnitee pursuant to this Agreement without the Company’s prior written consent, which consent shall not be unreasonably
withheld. 
 14. If any Claim relating to an Indemnifiable Event, commenced against Indemnitee is also commenced against the Company, the
Company shall be entitled to participate therein at its own expense, and, except as otherwise provided hereinbelow, to the extent that it may wish, the Company shall be entitled to assume the defense thereof. After notice from the Company to
Indemnitee of its election to assume the defense of any Claim, the Company shall not be obligated to Indemnitee under this Agreement for any legal or other expenses subsequently incurred by Indemnitee in connection with the defense thereof other
than reasonable costs of investigation, travel and lodging expenses arising out of Indemnitee’s participation in such Claim. Indemnitee shall have the right to 

  
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 employ Indemnitee’s own counsel in such Claim, but the fees and expenses of such counsel incurred after
notice from the Company to Indemnitee of its assumption of the defense thereof shall be at the expense of Indemnitee unless (i) otherwise authorized by the Company, (ii) Indemnitee shall have reasonably concluded, and so notified the
Company, that there may be a conflict of interest between the Company and Indemnitee in the conduct of the defense of such Claim, or (iii) the Company shall not in fact have employed counsel to assume the defense of such Claim, in which cases
the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any claim brought by or on behalf of the Company or its stockholders or as to which Indemnitee
shall have made the conclusion set forth in (ii) of this Section 14. 
 15. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall
such waiver constitute a continuing waiver. 
 16. In the event of payment under this Agreement, the Company shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the
Company effectively to bring suit to enforce such rights. 
 17. The Company shall not be liable under this Agreement to make any payment in
connection with any claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, Bylaw or otherwise) of the amounts otherwise indemnifiable hereunder. 

18. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors,
assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, executors, and personal and legal representatives. This
Agreement shall continue in effect regardless of whether Indemnitee continues to serve as an officer or director of the Company or of any other enterprise at the Company’s request. 

19. The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a
single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the remaining provisions shall remain enforceable to the full extent permitted by law. 

20. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed in such state, but excluding any conflicts-of-law rule or principle which might refer such governance, construction or enforcement to
the laws of another state or country. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and
year first above written. 
 CRANE COMPANY 
  

			
	By:	 	  

		 	Name:
		 	Title:
	
	INDEMNITEE
		
	By:	 	  

		 	Name:

  
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 Exhibit 10.7 

CRANE COMPANY 
 2023 STOCK
INCENTIVE PLAN 
  

	1.	 PURPOSE AND ADOPTION OF THE PLAN 

(a) The purpose of the Crane Company 2023 Stock Incentive Plan (as the same may be amended from time to time, the “Plan”) is
(i) to attract and retain key employees and Non-Employee Directors (as defined below) of Crane Company (the “Company”) and its Subsidiaries (as defined below) who are and will be contributing to
the success of the business; (ii) to motivate and reward key employees and Non-Employee Directors who have made significant contributions to the success of the Company and encourage them to continue to
give their best efforts to its future success; (iii) to provide competitive incentive compensation opportunities; and (iv) to further opportunities for stock ownership by such key employees and
Non-Employee Directors in order to increase their proprietary interest in the Company and their personal interest in its continued success. 

(b) The Plan was approved by the Board of Directors of the Company (the “Board”) on [•] and by Crane Holdings, Co. as the sole
shareholder of the Company on [•], but will not become effective until the Effective Time (as defined below). The Plan shall remain in effect from the Effective Time until it is terminated by action of the Board; provided, however, that no
Award shall be granted after the date that is ten (10) years from the Effective Time (and no Incentive Stock Option shall be granted after the date that is ten (10) years from the date that the Board approved the Plan). 

 

	2.	 DEFINITIONS 

For the purposes of this Plan, capitalized terms shall have the following meanings: 

(a) “Adjusted Spin-Off Award” means an award originally granted as a Crane Holdings, Co.
Equity Compensation Award that is adjusted into an Award under this Plan upon the Effective Time under either the “shareholder method” or “replacement method,” pursuant to the terms of the Employee Matters Agreement. 

(b) “Award” means any grant to a Participant of one or a combination of Non-Qualified Stock
Options or Incentive Stock Options described in Section 6, Stock Appreciation Rights described in Section 7, Restricted Shares or Restricted Share Units described in Section 8 and Other Stock-Based Awards described in Section 9.
For the avoidance of doubt, the term “Award” includes each Adjusted Spin-Off Award. 
 (c)
“Award Agreement” means a written agreement between the Company and a Participant or a written notice from the Company to a Participant specifically setting forth the terms and conditions of an Award granted under the Plan. 

(d) “Beneficiary” means an individual, trust or estate who or which, by a written designation of the Participant filed with the
Company or by operation of law, succeeds to the rights and obligations of the Participant under the Plan and an Award Agreement upon the Participant’s death. 

 (e) “Board” shall have the meaning given to such term in Section 1. 

(f) “Change in Control” means the occurrence of one of the following: (i) a “person” (as such term is used in
Sections 13(d) and 14(d) of the Exchange Act) becoming the “beneficial owner” (as that term is defined in Rule 13d-3 under the Exchange Act) of more than 50% of the outstanding Shares of the Common
Stock calculated as provided in paragraph (d) of said Rule 13d-3; (ii) the consummation of a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other
corporation or other entity, other than a merger or consolidation (a “Non-CIC Merger”) which would result in the voting securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity
outstanding immediately after such merger or consolidation; (iii) the consummation of any sale, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of the Company other than
to an entity at least fifty percent (50%) of the total voting power of which is owned, directly or indirectly, by the Company or by stockholders of the Company in substantially the same proportions as their ownership of voting securities of the
Company immediately prior to such sale, exchange or other transfer; or (iv) the following individuals cease for any reason to constitute a majority of the members of the Board: individuals who, immediately after the Effective Time, constitute
the Board and any new director whose appointment or election is endorsed by a majority of the members of the Board then still in office who either were directors immediately after the Effective Time or whose appointment or election was previously so
endorsed (each, an “Incumbent Director”). 
 For purpose of clause (i) above, a “person” shall not include any
entity that becomes such a beneficial owner in connection with a Non-CIC Merger. For purposes of clause (ii) above, the “surviving entity” includes, if applicable, the ultimate parent entity
that directly or indirectly has beneficial ownership of sufficient voting securities eligible to elect a majority of the members of the board of directors (or the analogous governing body) of the surviving entity. For purposes of clause
(iv) above, any director whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by
or on behalf of a person other than the Board shall not be considered an Incumbent Director. 
 Notwithstanding the foregoing, if it is
determined that an Award hereunder is subject to the requirements of Section 409A of the Code and the Change in Control, is a “payment event” under Section 409A of the Code for such Award, the Company will not be deemed to have
undergone a Change in Control unless the Company is deemed to have undergone a “change in control event” pursuant to the definition of such term in Section 409A of the Code. 

(g) “Code” means the Internal Revenue Code of 1986, as amended. References to a section of the Code include that section and any
comparable section or sections of any future legislation that amends, supplements or supersedes said section. 
 (h) “Committee”
means the Management Organization and Compensation Committee of the Board or such other committee composed of at least three members of the Board as may be designated by the Board from time to time. 

  
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 (i) “Common Stock” means Common Stock, par value $1.00 per Share, of the Company.

 (j) “Company” shall have the meaning given to such term in Section 1. 

(k) “Crane Holdings, Co. Equity Compensation Award” shall have the meaning given to such term in the Employee Matters Agreement.

 (l) “Date of Grant” means the date as of which the Committee grants an Award. If the Committee contemplates an immediate grant
to a Participant, the Date of Grant shall be the date of the Committee’s action. If the Committee contemplates a date on which the grant is to be made other than the date of the Committee’s action, the Date of Grant shall be the date so
contemplated and set forth in or determinable from the records of action of the Committee; provided, however, that the Date of Grant shall not precede the date of the Committee’s action. 

(m) “Dividend Equivalent Account” means a bookkeeping account in accordance with Section 12(h) and related to an Award (other
than an Option or a Stock Appreciation Right) that is credited with the amount of any cash dividends or stock distributions that would be payable with respect to the Shares subject to such Awards had such Shares been outstanding shares of Common
Stock on the applicable date. 
 (n) “Effective Time” shall have the meaning given to such term in the Employee Matters Agreement.

 (o) “Employee Matters Agreement” means the Employee Matters Agreement among the Company and Crane Holdings, Co., entered into
in connection with the Spin-Off, as may be amended from time to time. 
 (p) “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
 (q) “Exercise Price” means, with respect to Options, the
amount established by the Committee in the Award Agreement in accordance with Section 6(b) which is required to purchase each Share upon exercise of the Option, or with respect to a Stock Appreciation Right, the amount established by the
Committee in the Award Agreement in accordance with Section 7(b) which is to be subtracted from the Fair Market Value on the date of exercise in order to determine the amount of the payment to be made to the Participant. 

(r) “Fair Market Value” of a Share as of a particular date shall mean (i) if the Common Stock is listed on a national
securities exchange, the closing or last price of the Common Stock on the composite tape or other comparable reporting system for the applicable date, or if the applicable date is not a trading day, the trading day immediately preceding the
applicable date, or (ii) if the Shares are not then listed on a national securities exchange, the closing or last price of the Common Stock quoted by an established quotation service for over-the-counter securities, or (iii) if the Shares are not then listed on a national securities exchange or quoted by an established quotation service for over-the-counter securities, or the value of such Shares is not otherwise determinable, such value as determined by the Committee in good faith in its sole discretion. 

  
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 (s) “Family Member” means a person who is a spouse, former spouse, child,
stepchild, grandchild, parent, step-parent, grandparent, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or
sister-in-law, including adoptive relationships, of the applicable individual, any person sharing the applicable individual’s household (other than a tenant or
employee), a trust in which any one or more of these persons have more than fifty percent of the beneficial interest, a foundation in which any one or more of these persons (or the applicable individual) control the management of assets, and any
other entity in which one or more of these persons (or the applicable individual) own more than fifty percent of the voting interests. 

(t) “Full Value Award” means any Award of Restricted Shares, Restricted Share Units or Other Stock-Based Awards made under the Plan.

 (u) “Incentive Stock Option” means a stock option within the meaning of Section 422 of the Code. 

(v) “Merger” means any merger, reorganization, consolidation, share exchange, transfer of assets or other transaction having similar
effect involving the Company. 
 (w) “Non-Employee Director” means a member of the Board
who is not an employee of the Company or its Subsidiaries. 
 (x) “Non-Qualified Stock
Option” means a stock option which is not an Incentive Stock Option. 
 (y) “Options” means all Non-Qualified Stock Options and Incentive Stock Options granted at any time under the Plan. 
 (z)
“Other Stock-Based Award” means an Award granted in accordance with Section 9. 
 (aa) “Participant” means a person
designated to receive an Award under the Plan in accordance with Section 5. 
 (bb) “Plan” shall have the meaning given to
such term in Section 1. 
 (cc) “Restricted Shares” means Common Stock subject to restrictions imposed in connection with
Awards granted under Section 8. 
 (dd) “Restricted Share Unit” means a notional bookkeeping entry representing the
equivalent of a Share, subject to restrictions imposed in connection with Awards granted under Section 8. 
 (ee) “Share”
means a share of Common Stock. 
 (ff) “Spin-Off” shall mean the distribution of Shares to
the shareholders of Crane Holdings, Co. in 2023 pursuant to the Separation and Distribution Agreement between the Company and Crane Holdings, Co., entered into in connection with such distribution. 

  
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 (gg) “Stock Appreciation Right” or “SAR” means an Award granted in
accordance with Section 7. 
 (hh) “Subsidiary” means a subsidiary of the Company within the meaning of Section 424(f)
of the Code. 
 (ii) “Substitute Award” means any Award granted in assumption of or in substitution for an award of a company or
business acquired by the Company or a Subsidiary or with which the Company or a Subsidiary combines. 
  

	3.	 ADMINISTRATION 

(a) This Plan shall be administered by the Committee, which shall at all times be constituted to comply with the
“non-employee director” requirements established from time to time by rules or regulations of the Securities and Exchange Commission under Section 16 of the Exchange Act, and the
“independent director” requirements established from time to time under the corporate governance rules of the New York Stock Exchange. The Committee shall have the sole discretionary authority to interpret the Plan, to establish and modify
administrative rules for the Plan, to impose such conditions and restrictions on Awards as it determines appropriate, and to take such steps in connection with the Plan and Awards granted hereunder as it may deem necessary or advisable, including
without limitation, to waive the forfeiture period and any other conditions set forth in any Award Agreement under appropriate circumstances (including the death, disability or retirement of the Participant or a material change in circumstances
arising after the date of an Award) and subject to such terms and conditions as the Committee shall deem appropriate. 
 (b) Actions taken
under the Plan with respect to Awards to Non-Employee Directors that are described herein as actions by the Committee under the terms of the Plan, but which require Board approval under the Committee’s
Charter, shall be deemed to include, for purposes of the Plan, such action by the Board. In addition, notwithstanding anything to the contrary herein, in its sole discretion, the Board may at any time and from time to time exercise any and all
rights and duties of the Committee under the Plan except with respect to matters which under applicable law are required to be determined in the sole discretion of the Committee. 

(c) The Committee may employ attorneys, consultants, accountants or other persons and the Committee and the Company and its officers and
directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All usual and reasonable expenses of the Committee shall be paid by the Company. No Committee member shall receive compensation with respect to such
individual’s services for the Committee except as may be authorized by the Board. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and binding upon all Participants who have
received awards, the Company and all other interested persons. 
 (d) Notwithstanding anything to the contrary contained herein, to the
extent permitted by applicable law and the Company’s governing documents, the Board or the Committee may delegate any of the authorities of the Committee identified herein to an individual or committee of individuals (who may, but need not,
serve on the Board), including without limitation the authority 

  
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to grant Awards hereunder. To the extent that the Board or the Committee so delegates authority, applicable references in the Plan to the Committee’s authority to make awards and
determinations with respect thereto shall be deemed to include the delegate. Notwithstanding the foregoing, the Committee will retain broad authority to administer the Plan, including the authority to make determinations with respect to awards
previously granted by a delegate. The Board or the Committee, as applicable, may revoke any delegation it previously effectuated hereunder at any time, for any reason, with or without prior notice. 

 

	4.	 SHARES 

(a) The total number of Shares authorized to be awarded under the Plan shall not exceed [•], which includes the number of Shares that will
be subject to Adjusted Spin-Off Awards. 
 (b) Shares covered by an Award will not be counted as
used unless and until they are actually issued and delivered to a Participant. If (i) any Award lapses, expires, terminates or is canceled prior to the issuance of Shares thereunder, (ii) Shares under an Award are issued to a Participant
and thereafter are forfeited to or otherwise reacquired by the Company, (iii) Shares under an Award are withheld by or tendered to the Company as payment for the exercise or purchase price of an Award or to satisfy tax withholding obligations
related to an Award, or (iv) Shares subject to an Award that is settled in cash or in another manner where some or all of the shares covered by the Award are not issued, then those Shares will remain, or again become, available for issuance
under the Plan. 
 (c) In the case of any Substitute Award, such Substitute Award shall not be counted against the number of Shares reserved
under the Plan. 
 (d) The maximum number of Shares that may be awarded as Incentive Stock Options shall not exceed [•]. 

(e) The number of Shares available for grants under the Plan shall be subject to adjustment in accordance with Section 10. The Shares to
be offered under the Plan shall be authorized and unissued Shares, or issued Shares which will have been reacquired by the Company, including Shares purchased in the open market. 

 

	5.	 PARTICIPATION 

(a) Participants in the Plan shall be such key employees of the Company and its Subsidiaries and
Non-Employee Directors as the Committee, in its sole discretion, may designate from time to time. For purposes of the Plan, “key employees” shall mean officers as well as other employees (including
officers and other employees who are also directors of the Company or any Subsidiary) designated by the Committee in its discretion upon the recommendation of management. Notwithstanding the foregoing, in connection with the Spin-Off and pursuant to the terms of the Employee Matters Agreement, certain holders of outstanding Crane Holdings, Co. Equity Compensation Awards will receive Adjusted
Spin-Off Awards, thereby becoming Participants in the Plan. 

  
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 (b) No Awards may be granted under the Plan during any one calendar year to a Participant
who is a Non-Employee Director that exceed, together with any cash compensation received for such service during the applicable year (based on the Fair Market Value of the Shares underlying the Award as of the
applicable Date of Grant in the case of Full Value Awards, and based on the applicable grant date fair value for accounting purposes in the case of Options or SARs): (i) for any Non-Employee Director not
serving as Chairman of the Board, $750,000; and (ii) for any Non-Employee Director serving as Chairman of the Board, $1,000,000. The Board may make exceptions to this limit in extraordinary circumstances
for individual Non-Employee Directors, as the Board may determine in its discretion, provided that the Non-Employee Director receiving such additional compensation may
not participate in the decision to award such compensation. Notwithstanding the foregoing, the Adjusted Spin-Off Awards and any cash fees earned with respect to service on the Crane Holdings, Co. Board of
Directors or the Crane NXT, Co. Board of Directors shall not be counted for the purposes of this Section 5(b). 
 (c) Options under the
Plan may be Incentive Stock Options within the meaning of Section 422 of the Code or Non-Qualified Stock Options, provided that Incentive Stock Options may not be awarded to
Non-Employee Directors. Awards granted hereunder shall be evidenced by Award Agreements in such form as the Committee shall approve, which Agreements shall comply with and be subject to the terms and
conditions of this Plan. 
  

	6.	 GRANT AND EXERCISE OF STOCK OPTIONS 

(a) The Committee may grant to any Participant one or more Awards of Options entitling the Participant to purchase Shares from the Company on
such terms and subject to such conditions as may be established by the Committee. An Award of Options may be granted in such number, at such Exercise Price, and subject to such waiting periods, exercise dates and restrictions on exercise (including,
but not limited to, periodic installments), not inconsistent with the terms of this Plan, as may be determined by the Committee at the time of grant. 

(b) The Exercise Price of each Share upon exercise of any Option granted under the Plan (except in connection with Substitute Awards or
Adjusted Spin-Off Awards) shall not be less than 100% of the Fair Market Value of the Common Stock on the Date of Grant. Each Option shall have a stated term not to exceed ten (10) years from the Date of
Grant. 
 (c) The Exercise Price of the Shares purchased upon the exercise of an Option shall be paid in full at the time of exercise in
cash or, in whole or in part, by tendering (either actually or by attestation) Shares. The value of each Share delivered in payment of all or part of the Exercise Price upon the exercise of an Option shall be the Fair Market Value of the Common
Stock on the date the Option is exercised. Exercise of Options shall also be permitted, to the extent permitted by the Committee, in accordance with a cashless exercise program under which, if so instructed by a Participant, Shares may be issued
directly to the Participant’s broker or dealer upon receipt of an irrevocable written notice of exercise from the Participant. In addition, exercise of Options shall be permitted, to the extent permitted by the Committee, (i) by reduction
in the number of Shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise, or (ii) in any other form of legal consideration that may be acceptable to the
Committee. 

  
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 (d) Each Option granted under this Plan shall not be transferable by the Participant
otherwise than by will or the laws of descent and distribution, and shall be exercisable, during the Participant’s lifetime, only by the Participant. Notwithstanding the foregoing, Non-Qualified Stock
Options may be transferable, without payment of consideration, to Family Members to the extent permitted by the Committee. 
 (e) No
Participant may be granted Incentive Stock Options under the Plan (or any other plans of the Company and its Subsidiaries) that would result in Shares with an aggregate Fair Market Value (measured on the Date of Grant) of more than $100,000 first
becoming exercisable in any one calendar year. 
  

	7.	 GRANT AND EXERCISE OF STOCK APPRECIATION RIGHTS 

(a) The Committee may grant to any Participant one or more Awards of Stock Appreciation Rights on such terms and subject to such conditions as
may be established by the Committee. An Award of Stock Appreciation Rights may be granted in such number, at such Exercise Price, and subject to such waiting periods, exercise dates and restrictions on exercise (including, but not limited to,
periodic installments), not inconsistent with the terms of this Plan, as may be determined by the Committee at the time of grant. 
 (b) The
Exercise Price of each Share upon exercise of any Stock Appreciation Rights granted under the Plan (except in connection with Substitute Awards) shall not be less than 100% of the Fair Market Value of the Common Stock on the Date of Grant. Each
Stock Appreciation Right shall have a stated term not to exceed ten (10) years from the Date of Grant. 
 (c) Upon exercise of a Stock
Appreciation Right with respect to a Share, the Participant shall be entitled to receive an amount equal to the excess, if any, of (A) the Fair Market Value of a Share on the date of exercise over (B) the Exercise Price of such Stock
Appreciation Right established in the Award Agreement. Any payment which may become due from the Company by reason of a Participant’s exercise of a Stock Appreciation Right may be paid to the Participant as determined by the Committee and set
forth in the applicable Award Agreement (i) all in cash, (ii) all in Common Stock, or (iii) in any combination of cash and Common Stock. In the event that all or a portion of the payment is made in Common Stock, the number of Shares
delivered in satisfaction of such payment shall be determined by dividing the amount of such payment or portion thereof by the Fair Market Value on the Exercise Date. No fractional Share shall be issued to make any payment in respect of Stock
Appreciation Rights; if any fractional Share would be issuable, the combination of cash and Common Stock payable to the Participant shall be adjusted as directed by the Committee to avoid the issuance of any fractional Share. 

(d) Each Award of Stock Appreciation Rights granted under this Plan shall not be transferable by the Participant otherwise than by will or the
laws of descent and distribution, and shall be exercisable, during the Participant’s lifetime, only by the Participant. 

  
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	8.	 GRANT OF RESTRICTED SHARES AND RESTRICTED SHARE UNITS 

(a) The Committee may grant to any Participant one or more Awards of Restricted Shares or Restricted Share Units on such terms and subject to
such conditions as may be established by the Committee. An Award of Restricted Shares or Restricted Share Units may be granted pursuant to such restrictions and provisions, whether based on performance standards, periods of service, retention by the
Participant of ownership of specified Shares or other criteria, not inconsistent with the terms of this Plan, as may be established by the Committee. 

(b) With respect to Awards of Restricted Shares and Restricted Share Units that are granted, vested or otherwise conditioned on one or more
performance conditions, the Committee may use such business criteria and other measures of performance as it may deem appropriate, which may include specified levels of one or more of the following (in absolute terms or relative to one or more other
companies or indices): (i) net sales; sales of a particular product or line of products; (ii) gross profit; ratio of gross profit to sales; (iii) operating profit; ratio of operating profit to sales (in each case before or after taxes and
before or after allocation of corporate overhead and bonuses); (iv) net income; earnings per share; (v) adjusted earnings (including earnings before taxes, earnings before interest and taxes, or earnings before interest, taxes, depreciation and
amortization); (vi) cash flow from operations; free cash flow; (vii) return on equity, assets, net assets, total capital, or total invested capital; economic value added models or equivalent metrics; (viii) share price; total shareholder
return (in each case either absolutely or as compared with a peer group or stock market index); (ix) financial statement items such as cash, total debt, shareholders’ equity, working capital, material costs and engineering, selling and
administrative expenses(in each case either absolutely or in proportion to another financial statement item such as assets or sales); or (x) implementation, completion or attainment of measurable objectives with respect to specific operational
goals and targets, such as: (A) environmental, health and/or safety goals (including lost workday rates); (B) customer satisfaction; (C) inventory turns; (D) lead time; (E) on-time
delivery; (F) purchase price index; (G) days sales outstanding; (H) quality; (I) research and development, (J) specific products/projects (including new product introductions); and (K) recruitment or retention of personnel.
For any such Awards, the Committee may determine whether or not to adjust any such goals during or after the applicable performance period to take into consideration and/or mitigate the impact of any gains or losses, reserves or other charges to
earnings, accounting changes, acquisitions, dispositions and/or divestitures (“special items”), including any of the following that occur during the applicable performance period: (i) asset write-downs or impairment charges;
(ii) litigation or claim costs, judgments or settlements, including asbestos claims and defense costs; (iii) Superfund environmental costs; (iv) the effect of changes in tax laws, accounting principles or other laws or provisions
affecting reported results; (v) restatements occurring as a result of errors that arise from events other than fraud or other misconduct; (vi) provisions for reorganization and restructuring programs; (vii) nonrecurring items as
described in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to shareholders for the applicable year; (viii) acquisitions or divestitures; and
(ix) foreign exchange gains and losses. 

  
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 (c) As soon as practicable after the Date of Grant of a Restricted Share Award by the
Committee, the Company shall cause to be transferred on the books of the Company or its agent, Shares, registered on behalf of the Participant, evidencing the Restricted Shares covered by the Award, subject to forfeiture to the Company as of the
Date of Grant if an Award Agreement with respect to the Restricted Shares covered by the Award is not duly executed by the Participant and timely returned to the Company. Until the lapse or release of all restrictions applicable to an Award of
Restricted Shares the share certificates representing such Restricted Shares may be held in custody by the Company or its designee, in physical or book entry form, or, if the certificates bear a restrictive legend, by the Participant. Upon the lapse
or release of all restrictions with respect to an Award as described in Section 8(d), one or more share certificates, registered in the name of the Participant, for an appropriate number of Shares as provided in Section 8(e), free of any
restrictions set forth in the Plan and the related Award Agreement shall be delivered to the Participant. 
 (d) Beginning on the Date of
Grant of a Restricted Share Award and subject to execution of the related Award Agreement as provided in Section 8(c), and except as otherwise provided in such Award Agreement, the Participant shall become a stockholder of the Company with
respect to all Shares subject to a Restricted Share Award Agreement and shall have all of the rights of a stockholder, including, but not limited to, the right to vote such Shares and the right to receive dividends; provided, however, that any
Shares or other securities distributed as a dividend or otherwise with respect to any Restricted Shares as to which the restrictions have not yet lapsed, shall be subject to the same restrictions as such Restricted Shares and held or restricted as
provided in Section 8(c). 
 (e) Upon expiration or earlier termination of the forfeiture period without a forfeiture and the
satisfaction of or release from any other conditions prescribed by the Committee, or at such earlier time as provided under the provisions of Section 3(a) (regarding the Committee’s discretion to waive vesting conditions), the restrictions
applicable to the Restricted Shares shall lapse. As promptly as administratively feasible thereafter, subject to the requirements of Section 12(o) (regarding tax withholding), the Company shall deliver to the Participant or, in case of the
Participant’s death, to the Participant’s Beneficiary, one or more share certificates for the appropriate number of Shares, free of all such restrictions, except for any restrictions that may be imposed by law. 

(f) As soon as practicable after the Date of Grant of a Restricted Share Unit Award by the Committee, the Company shall cause to be entered
upon its books a notional account for the Participant’s benefit indicating the number of Restricted Share Units awarded, subject to forfeiture as of the Date of Grant if an Award Agreement with respect to the Restricted Share Units covered by
the Award is not duly executed by the Participant and timely returned to the Company. Until the lapse or release of all restrictions applicable to a Restricted Share Unit Award, no Shares shall be issued in respect of such Awards and no Participant
shall have any rights as a stockholder of the Company with respect to the Shares covered by such Restricted Share Unit Award, including the right to vote such Shares and the right to receive dividends; provided, that the Committee may, in its sole
discretion, award a Participant dividend equivalents with respect to a Restricted Share Unit Award in accordance with Section 12(h) of the Plan. 

(g) Upon expiration or earlier termination of the forfeiture period without a forfeiture and the satisfaction of or release from any other
conditions prescribed by the Committee, or at such earlier time as provided under the provisions of Section 3(a) (regarding the Committee’s discretion to waive vesting conditions), the restrictions applicable to the Restricted Share Units
shall lapse. As promptly as administratively feasible thereafter, subject to the requirements of 

  
 - 10 - 

 
Section 12(o) (regarding tax withholding), the Company shall deliver to the Participant or, in case of the Participant’s death, to the Participant’s Beneficiary, either (i) a
cash payment equal to the number of Restricted Share Units as to which such restrictions have lapsed multiplied by the Fair Market Value of a Share as of the date the restrictions lapsed, or, (ii) solely in the Committee’s discretion, one
or more share certificates registered in the name of the Participant, for the appropriate number of Shares, free of all restrictions, except for any restrictions that may be imposed by law. 

(h) None of the Restricted Shares or Restricted Share Units may be assigned or transferred (other than by will or the laws of descent and
distribution or to an inter vivos trust with respect to which the Participant is treated as the owner under Sections 671 through 677 of the Code), pledged or sold prior to the lapse of the restrictions applicable thereto. 

(i) A Participant’s Restricted Share or Restricted Share Unit Award shall not be contingent on any payment by or consideration from the
Participant other than the rendering of services. 
 (j) Restricted Shares shall be forfeited and returned to the Company, and Restricted
Share Units shall be forfeited, and all rights of the Participant with respect to such Restricted Shares or Restricted Share Units shall terminate unless the Participant continues in the service of the Company or a Subsidiary until the expiration of
the forfeiture period for such Restricted Share or Restricted Share Unit Award and satisfied any and all other conditions set forth in the Award Agreement. The Committee shall determine the forfeiture period (which may, but need not, lapse in
installments) and any other terms and conditions applicable with respect to any Restricted Share or Restricted Share Unit Award. 
  

	9.	 OTHER STOCK-BASED AWARDS 

(a) The Committee may grant to any Participant one or more other stock-based Awards, including without limitation stock purchase rights, Awards
of Shares, or Awards valued in whole or in part by reference to, or otherwise based on, Common Stock. The Committee shall have sole and complete authority to determine the persons to whom and the time or times at which such Awards shall be made, the
number of Shares to be granted pursuant to such Awards, and all such other terms and subject to such conditions, not inconsistent with the terms of this Plan, as may be established by the Committee. 

(b) In addition to the terms and conditions specified in the Award Agreement, Awards made pursuant to this Section 9 shall be subject to
the following: 
 (i) Any Common Stock subject to Awards made under this Section 9 may not be sold, assigned,
transferred, pledged or otherwise encumbered prior to the date on which the Shares are issued, or, if later, the date on which any applicable restriction, performance or deferral period lapses; 

(ii) If specified by the Committee in the Award Agreement, the recipient of an Award under this Section 9 shall be
entitled to receive, currently or on a deferred basis, interest or dividends or dividend equivalents with respect to the Common Stock or other securities covered by the Award, provided that for any such Award that becomes earned based on a
performance condition, any such dividends or dividend equivalents shall be earned by the Participant only to the extent the underlying Award is earned; and 

  
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 (iii) The Award Agreement with respect to any Award shall contain provisions
dealing with the disposition of such Award in the event of the Participant’s termination of service with the Company or its Subsidiary prior to the exercise, payment or other settlement of such Award, whether such termination occurs because of
retirement, disability, death or other reason, with such provisions to take account of the specific nature and purpose of the Award. 
  

	10.	 ADJUSTMENTS TO REFLECT CAPITAL CHANGES; CHANGE IN CONTROL 

(a) In the event of any corporate event or transaction (including, but not limited to, a change in the Common Stock or the capitalization of
the Company) such as a merger, consolidation, reorganization, recapitalization, separation, partial or complete liquidation, stock dividend, stock split, reverse stock split, split up, spin-off, or other
distribution of stock or property of the Company, a combination or exchange of Common Stock, dividend in kind, or other like change in capital structure, number of outstanding Shares, distribution (other than normal cash dividends) to shareholders
of the Company, or any similar corporate event or transaction, the Committee, in order to prevent dilution or enlargement of Participants’ rights under this Plan, shall make equitable and appropriate adjustments and substitutions, as
applicable, to or of the number and kind of shares subject to outstanding Awards, the Exercise Price for such shares, the number and kind of shares available for future issuance under the Plan, and other determinations applicable to outstanding
Awards, including with respect to any applicable performance goals. The Committee shall have the power and sole discretion to determine the amount of the adjustment to be made in each case. 

(b) In addition, in the event that the Company is a party to a Merger, outstanding Awards shall be subject to the agreement of merger or
reorganization. Such agreement may provide, without limitation, for the continuation of outstanding Awards by the Company (if the Company is a surviving corporation), for their assumption by the surviving corporation or its parent or subsidiary, for
the substitution by the surviving corporation or its parent or subsidiary of its own awards for such Awards, for accelerated vesting and accelerated expiration, or for settlement in cash or cash equivalents. 

(c) In addition, unless otherwise specifically prohibited under applicable laws, or by the rules and regulations of any governing governmental
agencies or national securities exchanges, the Committee may, in its sole discretion, at the time an Award is made hereunder or at any time prior to, coincident with or after the time of a Change in Control take one of the following actions which
shall apply only upon the occurrence of a Change in Control or, if later, upon the action being taken: 
 (i) provide for the
acceleration of any time periods, or the waiver of any other conditions, relating to the vesting, exercise, payment or distribution of an Award so that any Award to a Participant whose employment or other service relationship has been terminated as
a result of a Change in Control may be vested, exercised, paid or distributed in full on or before a date fixed by the Committee, and in connection therewith the Committee may (i) provide for an extended period to exercise Options (not to
exceed the original Option term) and (ii) determine the level of attainment of any applicable performance goals; 

  
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 (ii) provide for the purchase of any Awards from a Participant whose
employment or other service relationship has been terminated as a result of a Change in Control, upon the Participant’s request, for an amount of cash equal to the amount that could have been obtained upon the exercise, payment or distribution
of such rights had such Award been currently exercisable or payable; or 
 (iii) cause the Awards then outstanding to be
assumed, or new rights substituted therefore, by the surviving corporation in such Change in Control. 
 For purposes of
sub-paragraphs (i) and (ii) above, any Participant whose employment or other service relationship is either (A) terminated by the Company other than for “cause,” or (B) terminated by
the Participant for “good reason” (each as defined in the applicable Award Agreement), in either case upon, or on or prior to the second anniversary of, a Change in Control, shall be deemed to have been terminated as a result of the Change
in Control. 
  

	11.	 AMENDMENT AND TERMINATION 

(a) This Plan may be amended or terminated at any time by the Board except with respect to any Awards then outstanding, and any Award granted
under this Plan may be terminated at any time with the consent of the Participant. The Board may make such changes in and additions to this Plan as it may deem proper and in the best interest of the Company; provided, however, that no such action
shall, without the consent of the Participant, materially impair any Award theretofore granted under this Plan; and provided, further, that no such action shall be taken without the approval of the stockholders of the Company if such stockholder
approval is required under applicable law or the rules of the New York Stock Exchange. Notwithstanding any provision herein to the contrary, the repricing of Options or Stock Appreciation Rights is prohibited without prior approval of the
Company’s stockholders. For this purpose, a “repricing” means any of the following (or any other action that has the same effect as any of the following): (A) changing the terms of an Option or Stock Appreciation Right to lower its
Purchase or Exercise Price, as applicable; (B) any other action that is treated as a “repricing” under generally accepted accounting principles; and (C) repurchasing for cash or canceling an Option or Stock Appreciation Right at
a time when its Purchase or Exercise Price, as applicable, is greater than the Fair Market Value of the underlying Shares in exchange for another Award, unless the cancellation and exchange occurs in connection with a change in capitalization or
similar change under Section 10 above. Such cancellation and exchange would be considered a “repricing” regardless of whether it is treated as a “repricing” under generally accepted accounting principles and regardless of
whether it is voluntary on the part of the Participant. Notwithstanding anything contained herein, the Board may amend or revise this Plan to comply with applicable laws or governmental regulations. 

  
 - 13 - 

	12.	 GENERAL PROVISIONS 

(a) Each Award granted under this Plan shall be evidenced by an Award Agreement containing such terms and conditions as the Committee may
require, and no person shall have any rights under any Award granted under this Plan unless and until such Award Agreement has been executed and delivered by the Participant and the Company. Notwithstanding the foregoing, the Committee may in its
discretion determine not to evidence one or more Adjusted Spin-Off Awards with an Award Agreement, and instead rely on the terms memorialized in the award agreement for the original Crane Holdings Co., Equity
Compensation Award to which such Adjusted Spin-Off Award relates, as adjusted in accordance with the Employee Matters Agreement. 

(b) In the event of any conflict between the terms of this Plan and any provision of any Award Agreement, the terms of this Plan shall be
controlling. 
 (c) No Participant or other person shall have any claim or right to be granted an Award under the Plan. Neither the Plan nor
any action taken hereunder shall be construed as giving any Participant any right to be retained in the employment or any other service relationship with the Company or any of its Subsidiaries. Unless otherwise agreed by contract, the Company
reserves the right to terminate its employment or other service relationship with any person at any time and for any reason. 
 (d) Income
realized as a result of a grant or an exercise of any Award under this Plan shall not be included in the Participant’s earnings for the purpose of any benefit plan in which the Participant may be enrolled or for which the Participant may become
eligible unless otherwise specifically provided for in such plan. 
 (e) The obligation of the Company to sell and deliver Shares with
respect to any Award granted hereunder shall be subject to, as deemed necessary or appropriate by counsel for the Company, and the Committee shall have the sole discretion to impose such conditions, restrictions and limitations (including suspending
exercises of Options or Stock Appreciation Rights and the tolling of any applicable exercise period during such suspension) on the issuance of Common Stock with respect to any Award unless and until the Committee determines that such issuance
complies with (i) all applicable laws, rules and regulations and such approvals by any governmental agencies as may be required, including, without limitation, the effectiveness of a registration statement under the Securities Act of 1933, and
(ii) the condition that such Shares shall have been duly listed on such stock exchanges as the Common Stock is then listed. 
 (f)
Anything in this Plan to the contrary notwithstanding, it is expressly agreed and understood that if any one or more provisions of this Plan shall be illegal or invalid such illegality or invalidity shall not invalidate this Plan or any other
provisions thereof, but this Plan shall be effective in all respects as though the illegal or invalid provisions had not been included. 

(g) All determinations made and actions taken pursuant to the Plan shall be governed by the laws of the State of Delaware, other than the
conflict of laws provisions thereof, and construed in accordance therewith. 

  
 - 14 - 

 (h) For any Award granted under the Plan other than an Option or a Stock Appreciation Right,
the Committee shall have the discretion, upon the Date of Grant or thereafter, to provide for the payment of dividend equivalents to the Participant in connection with such Award or to establish a Dividend Equivalent Account with respect to the
Award, and the applicable Award Agreement or an amendment thereto shall confirm the terms of such arrangement. For purposes of payment of dividend equivalents or settlement of any Dividend Equivalent Account, the amount to be paid or otherwise
settled shall be rounded to the nearest one-hundredth of a dollar ($0.01). If a Dividend Equivalent Account is established, the following terms shall apply: 

(i) Dividend Equivalent Accounts shall be subject to such terms and conditions as the Committee shall determine and as shall be
set forth in the applicable Award Agreement. Such terms and conditions may include, without limitation, for the Participant’s Account to be credited as of the record date of each cash dividend on the Common Stock with an amount equal to the
cash dividends which would be paid with respect to the number of Shares then covered by the related Award if such Shares had been owned of record by the Participant on such record date. 

(ii) Dividend Equivalent Accounts shall be established and maintained only on the books and records of the Company and no
assets or funds of the Company shall be set aside, placed in trust, removed from the claims of the Company’s general creditors, or otherwise made available until such amounts are actually payable as provided hereunder. 

(iii) Dividend equivalents credited to a Dividend Equivalent Account with respect to any Award that becomes earned based on a
performance condition shall be earned by the Participant only to the extent the underlying Award is earned. 
 (i) As a condition to receipt
of any Award under the Plan, a Participant shall agree, upon demand of the Company, to do all acts and execute, deliver and perform all additional documents, instruments and agreements which may be reasonably required by the Company, to implement
the provisions and purposes of the Plan. 
 (j) Awards under the Plan may be granted to such employees or
Non-Employee Directors of the Company and its Subsidiaries who are residing in foreign jurisdictions as the Committee in its sole discretion may determine from time to time. The Committee may adopt such
supplements or subplans to the Plan as may be necessary or appropriate to comply with the applicable laws of such foreign jurisdictions and to afford Participants favorable treatment under such laws; provided, however, that no Award shall be granted
under any such supplement with terms or conditions inconsistent with the provision set forth in the Plan. 
 (k) All notices, elections,
requests, demands and all other communications required or permitted by the Committee, the Company or a Participant under the Plan shall be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a
postal service, postage prepaid, to such electronic mail or postal address and directed to such person as the Company may notify the Participant from time to time; and to the Participant at the Participant’s electronic mail or postal address as
shown on the records of the Company from time to time, or at such other electronic mail or postal address as the Participant, by notice to the Company, may designate in writing from time to time. 

  
 - 15 - 

 (l) If a Participant or any Beneficiary entitled to receive a payment under this Plan is, in
the judgment of the Committee, physically, mentally or legally incapable of receiving or acknowledging receipt of the payment, and no legal representative has been appointed for the individual, the Company may (but is not required to) cause the
payment to be made to any one or more of the following as may be chosen by the Company: (i) the Participant’s designated Beneficiary (in the case of the Participant’s incapacity); (ii) the institution maintaining the Participant or
the Beneficiary; (iii) a custodian under the Uniform Transfers to Minors Act of any state (in the case of the incapacity of a beneficiary); or (iv) the spouse, children, parents or other relatives by blood or marriage of the Participant or
the Participant’s Beneficiary. The Company is not required to ensure the proper application of any payment so made, and any such payment completely discharges all claims under this Plan against the Company to the extent of the payment. 

(m) The Plan is intended to comply with the requirements of Section 409A of the Code to the extent an Award is intended to be subject to,
or otherwise be exempt from, Section 409A. Consistent with that intent, the Plan shall be interpreted in a manner consistent with Section 409A and in the event that any provision that is necessary for the Plan to comply with
Section 409A is determined by the Committee, in its sole discretion, to have been omitted, such omitted provision shall be deemed included herein and is hereby incorporated as part of the Plan. In addition, and notwithstanding any provision of
the Plan to the contrary, the Company reserves the right to amend the Plan or any Award granted under the Plan, by action of the Committee, without the consent of any affected Participant, to the extent deemed necessary or appropriate for purposes
of maintaining compliance with Section 409A of the Code and the regulations promulgated thereunder. Notwithstanding anything to the contrary in the Plan, to the extent required to avoid accelerated taxation and additional taxes or penalties
under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six (6) month period immediately following the Participant’s separation from service
with the Company shall instead be paid on the first payroll date after the six (6)-month anniversary of the Participant’s separation from service (or the Participant’s death, if earlier). Notwithstanding the foregoing, neither the Company
nor the Committee shall have any obligation to take any action to prevent the assessment of any additional tax or penalty on any Participant under Section 409A of the Code and neither the Company nor the Committee will have any liability to any
Participant for such tax or penalty. 
 (n) To the extent that this Plan provides for or otherwise refers to issuance of certificates to
reflect the transfer of Shares pursuant to the terms of an Award, the transfer of such Shares may be effected, in the Company’s discretion, on a book entry or such other noncertificated basis, to the extent not prohibited by applicable law or
the rules of any stock exchange on which such Shares are listed. 
 (o) The Company shall have the power and the right to deduct or
withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy Federal, state, local or other applicable taxes (including the Participant’s FICA obligation or other social taxes) required by law to be withheld with
respect to any taxable event arising as a result of this Plan. The Company may cause any such tax withholding obligation to be satisfied by the Company withholding Shares otherwise deliverable in connection with the Award that have a fair market
value on the date the tax is to be determined not to exceed the maximum statutory total tax which could be imposed on the transaction. In the alternative, the Company may permit Participants to elect to satisfy the tax

  
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withholding obligation, in whole or in part, by either (i) having the Company withhold Shares having a fair market value on the date the tax is to be determined in an amount not to exceed
the maximum statutory total tax which could be imposed on the transaction or (ii) tendering previously acquired, unencumbered Shares having an aggregate fair market value in an amount not to exceed the maximum statutory total tax which could be
imposed on the transaction. All such elections shall be made in writing, signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 

(p) All Awards made under the Plan (whether vested or unvested) are subject to rescission, cancellation or recoupment, in whole or in part,
under any current or future “clawback” or similar policies of the Company or its Subsidiary that are applicable to the Participant. Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any law,
government regulation or stock exchange listing requirement, will be subject to such deductions and “clawback” as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement. The Awards, and
any Shares associated therewith, shall be subject to the Company’s (or its Subsidiaries’) stock ownership, securities trading, anti-hedging and other similar policies, as in effect from time to time. In the case of a Participant that holds
an Adjusted Spin-Off Award, which Participant provides services to Crane NXT, Co. or its affiliates immediately after the Effective Time, but does not provide services to the Company or its Subsidiaries
immediately after the Effective Time, this provision shall be read so as to apply to policies that are maintained by Crane NXT, Co. and its affiliates. 

(q) Notwithstanding anything in this Plan to the contrary, the terms and conditions of the Plan will apply to Adjusted Spin-Off Awards only to the extent that such terms and conditions are not inconsistent with the treatment of such Awards under the terms of the Employee Matters Agreement. 

  
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