Document:

EX-10.12

 Exhibit 10.12 

KNOWLES CORPORATION 

EXECUTIVE OFFICER ANNUAL INCENTIVE PLAN 

(Effective as of January 1, 2014) 

1. Purpose. The purposes of the Knowles Corporation Executive Officer Annual Incentive Plan (the “Plan”) are to provide annual incentive
compensation to designated executive officers of Knowles Corporation (the “Company”) based on the achievement of established performance targets, to encourage such executive officers to remain in the employ of the Company, to assist the
Company in attracting and motivating new executive officers and to qualify the incentive payments awarded under the Plan (the “Awards”) as qualified “performance-based compensation” so that payments under the Plan shall be
deductible in accordance with Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”). 
 2. Eligibility. The
Compensation Committee of the Board of Directors of the Company (the “Committee”) shall each year determine the Executive Officers of the Company eligible to participate in the Plan (the “Participants”). For purposes hereof,
“Executive Officers” shall mean the Chief Executive Officer and the Chief Operating Officer of the Company, each executive of the Company or an Affiliate who reports directly to the Chief Executive Officer or the Chief Operating Officer of
the Company, and any other executive of the Company or an Affiliate as may be selected by the Committee or who is an “executive officer” of the Company within the meaning of Rule 3b-7 under the Securities Exchange Act of 1934. As used
herein, “Affiliate” shall mean each corporation that is a member of the Company’s affiliated group, within the meaning of Section 1504 of the Code (without regard to Section 1504(b) of the Code) other than any subsidiary of
the Company that is itself a publicly held corporation as such term is defined in Section 162(m) of the Code and the Treasury regulations issued thereunder and any subsidiaries of such publicly held corporation subsidiary. 

3. Performance Periods. Each performance period for purposes of the Plan shall have a duration of one calendar year, commencing January 1 and
ending the next December 31 (“Performance Period”). 
 4. Administration. The Committee shall have the full power and authority to
administer and interpret the Plan and to establish rules for its administration including, without limitation, correcting any defect, supplying any omission or reconciling any inconsistency in this Plan in the manner and to the extent it shall deem
necessary to carry this Plan into effect. Unless otherwise specified by the Committee at the time of grant, all Awards are intended to qualify as performance-based compensation within the meaning of Section 162(m) of the Code (“Qualified
Performance Awards”). The Committee retains the discretion to grant Awards that are not intended to qualify as Qualified Performance Awards, to determine the terms and conditions of such Awards and adjust or prorate such Awards. All decisions
of the Committee on any question concerning the selection of Participants and the interpretation and administration of the Plan shall be final, conclusive, and binding upon all parties. 

5. Performance Targets. On or before the 90th day of each Performance Period, the Committee shall establish in writing one or more performance targets
(“Performance Targets”) for the Performance Period. The Performance Targets shall in all instances be determined on the basis of the one or more of the following performance criteria, either individually, alternatively or in any
combination, and applied either to the Company as a whole or to a subsidiary, division, affiliate, business segment or unit thereof: (a) earnings before interest, taxes, depreciation and amortization, (b) cash flow, (c) earnings per
share, (d) operating earnings, (e) return on equity, (f) return on investment, return on shareholders’ equity, return on capital employed, return on invested cash, (g) total shareholder return or internal total shareholder
return, (h) net earnings, (i) sales or revenue, (j) expense targets, (k) targets with respect to the value of common stock, (l) margins, (m) pre-tax or after-tax net income, (n) market penetration,
(o) geographic goals, (p) business expansion goals, or (q) goals based on operational efficiency. 

  
 1 

 6. Incentive Payout Calculation. As soon as practicable after the end of each Performance Period, the
Committee shall make a determination in writing with regard to the attainment of the Company’s Performance Targets specified pursuant to Section 5 for such Performance Period and shall calculate the possible payout of incentive awards for
each Participant. 
 7. Reduction Of Calculated Payouts. The Committee shall have the power and authority to reduce or eliminate for any reason the
payout calculated pursuant to Section 6 that would otherwise be payable to a Participant based on the established target Award and payout schedule, provided, however, that the exercise of discretion to reduce or eliminate the payout to one
Participant may not result in an increase in the amount payable to another Participant. 
 8. Payouts. Qualified Performance Awards shall not be paid
before the Committee certifies in writing that the Performance Targets specified pursuant to Section 5 have been satisfied. No portion of a Qualified Performance Award may be paid if the Performance Targets have not been satisfied.
Notwithstanding the forgoing, the Committee may, in its sole and absolute discretion, permit the payment of Qualified Performance Awards with respect to a Performance Period in the case of death or disability of the Participant or a change in
ownership or control of the Company (within the meaning of Section 280G of the Code) during such Performance Period without regard to actual achievement of the Performance Targets and whether or not payment of such Awards would be deductible
under Section 162(m) of the Code but only if such payment would not cause Awards made under the Plan to fail to be qualified performance-based compensation under Section 162(m) of the Code and Treasury regulations issued thereunder. The
Committee may, in its sole and absolute discretion, permit the payment of Awards which are not Qualified Performance Awards without regard to actual achievement of the Performance Targets. In no event shall the payout under the Plan to any
Participant for any Performance Period exceed $5 million. Payment of the Award determined in accordance with the Plan for each Performance Period shall be made to a Participant in cash within two and one-half (2 1/2) months following the Performance
Period. 
 9. Miscellaneous Provisions. 

(a) The Board of Directors of the Company shall have the right to suspend or terminate the Plan at any time and may amend or modify the Plan
with respect to future Performance Periods prior to the beginning of any Performance Period, provided that no such amendment or modification which is expected to materially increase benefits payable to Participants under the Plan who are
“covered employees” within the meaning of Section 162(m) of the Code (“Covered Employees”) shall be made unless such measures as the Committee deems necessary for the increased benefit to be deductible as qualified
performance-based compensation pursuant to Section 162(m) of the Code have been taken. 
 (b) The Committee may adjust, upward or
downward, to the extent permitted by Section 162(m), the Performance Targets to reflect (i) a change in accounting standards or principles, (ii) a significant acquisition or divestiture, (iii) a significant capital transaction,
or (iv) any other unusual, nonrecurring items which are separately identified and quantified in the Company’s audited financial statements, so long as such accounting change is required or such transaction or nonrecurring item occurs after
the goals for the fiscal year are established, and such adjustments are stated at the time that the performance goals are determined. The Committee may also adjust, upward or downward, as applicable, the Performance targets to reflect any other
extraordinary item or event, so long as any such item or event is separately identified as an item or event requiring adjustment of such targets at the time the Performance Targets are determined, and such item or event occurs after the targets for
the fiscal year are established. 

  
 2 

 (c) Nothing contained in the Plan or any agreement related hereto shall affect or be construed as
affecting the terms of the employment of any Participant except as specifically provided herein or therein. Nothing contained in the Plan or any agreement related hereto shall impose or be construed as imposing any obligation on (i) the Company
or any Affiliate to continue the employment of any Participant or (ii) any Participant to remain in the employ of the Company or any Affiliate. The Company reserves the right to make bonus or other incentive awards to Participants under other
plans maintained by the Company or otherwise as determined by the Company in its sole discretion, which other plans or arrangements need not be intended to meet the requirements of Section 162(m) of the Code. 

(d) No person shall have any claim to be granted an Award under the Plan and there is no obligation of uniformity of treatment of eligible
employees under the Plan. Awards under the Plan may not be assigned or alienated. 
 (e) The Company or Affiliate, as applicable, shall have
the right to deduct from any Award to be paid under the Plan any federal, state or local taxes required by law to be withheld with respect to such payment. 

(f) If any provision of the Plan or an Award would cause the Awards granted to a Covered Employee not to be qualified “performance-based
compensation” under Section 162(m) of the Code, that provision, insofar as it pertains to such Covered Employee, shall be severed from, and shall be deemed not to be a part of, the Plan or an Award, but the other provisions hereof shall
remain in full force and effect. 
 (g) It is intended that the Awards granted under the Plan shall be exempt from, or in compliance with,
Section 409A of the Code. In the event any of the Awards issued under the Plan are subject to Section 409A of the Code, it is intended that no payment or entitlement pursuant to this Plan will give rise to any adverse tax consequences to a
Participant under Section 409A of the Code. The Plan shall be interpreted to that end and, consistent with that objective and notwithstanding any provision herein to the contrary, the Company may unilaterally take any action it deems necessary
or desirable to amend any provision herein to avoid the application of, or excise tax under, Section 409A of the Code provided that such action is consistent with the requirements of Section 162(m) of the Code. Neither the Company nor its
current or former employees, officers, directors, representatives or agents shall have any liability to any current or former Participant with respect to any accelerated taxation, additional taxes, penalties, or interest for which any current or
former Participant may become liable in the event that any amounts payable under the Plan are determined to violate Section 409A. 
 (h)
Notwithstanding anything herein to the contrary, to the extent required by Section 409A of the Code and Treasury regulations, upon a termination of employment (other than as a result of death) of a person determined by the Board of Directors of
the Company (or a committee of the Board of Directors as such body shall delegate) to be a “specified employee” (within the meaning of Section 409A of the Code), distributions determined, in whole or in part, to constitute
“nonqualified deferred compensation” within the meaning of Section 409A of the Code shall be delayed until six months after such termination of employment if such termination constitutes a “separation from service” (within
the meaning of Section 409A(a)(2)(A)(i) of the Code and the Treasury regulations issued thereunder) and such distribution shall be made at the beginning of the seventh month following the date of the specified employee’s termination of
employment. 
 10. Adoption. The Plan was adopted by the Board of Directors of the Company on [    ] effective as of January 1,
2014 and approved by the Board of Directors of Dover Corporation on November 7, 2013. 

  
 3EX-10.13

 Exhibit 10.13 
  

			
	

	  	COMMUNICATION TECHNOLOGIES
	  	3005 Highland Parkway • Suite 200 • Downers Grove, IL 60515 • (630) 541-1540 • Fax 
(630) 743-2675

 March 21, 2013 
 Dear Dave:

 In the position of President for Vectron International (“Vectron” or the “Company”), you will be considered critical to the ongoing
success of the Company. Therefore, Dover Communications Technologies (“DCT”) will offer you a special one-time bonus opportunity (“Vectron Success Bonus”) in accordance with the terms and conditions below (“Agreement”).

 1. Bonus Payout(s) 
 You will be eligible to earn the
Vectron Success Bonus if you achieve at least 7.0% EBIT and $100M in Sales for the full 2015 calendar year. If you meet these minimum threshold requirements, you may elect either (1) the Payout(s) under the Vectron Success Bonus or (2) the
2013 Cash Performance Award Grant payable in 2016 (“2016 CPP”), whichever is greater but not both. The Vectron Success Bonus Payout is capped at $1.1M (representing 11% EBIT Payout of $400,000 plus $140M Sales Payout of $700,000). Below is
a chart representing eligible payout amounts (“Bonus Payout(s)”). 
  

													
	2015 EBIT %	  	Payout	 	  	 2015

Sales
	 	  	Payout	 
	 7.0%
	  	$	150,000	  	  	$	100,000	  	  	$	50,000	  
	 7.3%
	  	$	172,727	  	  	$	103,636	  	  	$	109,091	  
	 7.5%
	  	$	200,000	  	  	$	107,273	  	  	$	168,182	  
	 7.8%
	  	$	218,182	  	  	$	110,909	  	  	$	227,273	  
	 8.1%
	  	$	250,000	  	  	$	114,545	  	  	$	286,364	  
	 8.4%
	  	$	275,000	  	  	$	118,182	  	  	$	345,455	  
	 8.6%
	  	$	300,000	  	  	$	121,818	  	  	$	404,645	  
	 8.9%
	  	$	320,000	  	  	$	125,455	  	  	$	463,636	  
	 0.2%
	  	$	340,000	  	  	$	129,091	  	  	$	522,727	  
	 9.6%
	  	$	360,000	  	  	$	132,727	  	  	$	581,818	  
	 9.7%
	  	$	380,000	  	  	$	136,364	  	  	$	640,909	  
	 10.0%
	  	$	400,000	  	  	$	140,000	  	  	$	700,000	  

 The Company shall pay eligible Bonus Payout(s) within two and one-half months following December 31, 2015 (“Payout
Date”). The actual date of such payment will be in the sole discretion of the Company, and you will not have any right to designate the calendar year of payment. The Bonus Payout(s) shall be subject to deductions and withholdings required by
law. The Bonus Payout(s) will not increase your compensation for any other purpose, including the calculation of severance or pension, if any. 
 2.
Conditions to Receive or Retain the Vectron Success Bonus Payout(s) 
 Your right to receive or retain the Bonus Payout(s) is subject to the following
conditions: 
  

	•	 	You have signed the Dover Code of Business Conduct and Ethics; 

  

	•	 	You, with due diligence and good faith, fulfill your tasks and objectives both resulting from your present function and/or from tasks and obligations assigned to you in the future; 

	•	 	You accept the position of President for Vectron; do not take any leave or work part-time; and do not terminate your employment from Vectron for any reason on or before December 31, 2015; 

 

	•	 	You are not terminated either for misconduct, or for poor performance that continues despite written counseling, before December 31, 2015; 

 

	•	 	You have elected not to receive payout under the 2016 CPP; and 

  

	•	 	You comply with the covenants set forth in Paragraphs 7 and 8 and do not otherwise breach this Agreement. 

 3.
If you receive a payout under the 2016 CPP, despite your election to the contrary, and it is less than the Bonus Payout(s), the Bonus Payout(s) will be offset by any money paid to you under the 2016 CPP. 

4. Nothing in this Agreement guarantees continued employment and your employment relationship remains at-will, meaning either you or the Company may terminate
the relationship for any reason, or no reason at all, and with or without notice. 
 5. You agree to make every effort to maintain and protect the
reputation of the Company, its parents and each of their subsidiaries and affiliates and that of their businesses, products, directors, officers, employees, and agents. You further agree that you will not disparage the Company, its parents or any of
their subsidiaries and affiliates or their businesses, products, directors, officers, employees, and agents (or persons representing them in their official capacity) or engage in any activities that reasonably could be anticipated to harm their
reputation, operations, or relationships with current or prospective customers, suppliers or employees. 
 6. This Agreement and its provisions are
confidential and you shall not disclose its existence or its terms to any third party (other than your lawyer or spouse) without the prior written consent of Ray Cabrera, DCT Vice President of Human Resources. In the event you breach the
nondisclosure obligation contained in this Paragraph, notwithstanding any other provision contained in this Agreement, this Agreement may be immediately terminated by the Company and you will not be eligible for any Bonus Payout(s) or other benefits
hereunder. 
 7. This Agreement and the Bonus Payout(s) hereunder are intended to meet the “short-term deferral” exception to the provisions of
Code Section 409A or to otherwise be exempt from the provisions of Code Section 409A, or to otherwise comply with the provisions of Code Section 409A. Notwithstanding any provision hereof to the contrary, this Agreement shall be
interpreted and construed consistent with this intent. Notwithstanding the foregoing, the Company shall not be required to assume any increased economic burden in connection therewith. Although the Company intends to administer this Agreement so
that it will be exempt from or comply with the requirements of Code Section 409A, the Company does not represent or warrant that this Agreement will be exempt from, or otherwise comply with, Code Section 409A or any other provision of
applicable law. Neither the Company, its affiliates, nor their respective directors, officers, employees or advisers shall be liable to you (or any other individual claiming a benefit through you) for any tax, interest, or penalties you may owe as a
result of compensation paid pursuant hereto, and the Company and its affiliates shall have no obligation to indemnify or otherwise protect you from the obligation to pay any taxes pursuant to Code Section 409A. The terms “terminate,”
“termination of employment,” and variations thereof, as used in this Agreement, are intended to mean a termination of employment that constitutes a “separation from service” under Code Section 409A. 

The time and form of Bonus Payout(s) shall be made in accordance with Paragraphs 1 through 3 above, provided that with respect to termination of employment
for reasons other than death, the payment at such time can be characterized as a short-term deferral for purposes of Code Section 409A or as otherwise exempt from the provisions of Code Section 409A, or if any portion of the payment cannot
be so characterized, and you are a “specified employee” under Code Section 409A, such portion of the 

  
 2 

 
payment shall be delayed until the earlier to occur of your death or the date that is six months and one day following your termination of employment (the “Delay Period”). Upon the
expiration of the Delay Period, all payments delayed pursuant to the preceding sentence shall be paid or reimbursed to you in a lump sum. 
 8. This
Agreement constitutes the entire agreement between you and the Company with respect to the subject matter contained herein. This Agreement supersedes any and all prior and/or contemporaneous written and/or oral agreements concerning the subject
matter contained herein. This Agreement may not be modified except by written document, signed by you and the DCT Vice President of Human Resources. The terms of this Agreement are severable. This Agreement may be signed in counterparts. This
Agreement will accrue to the benefit of and may be enforced by the Company and its successors and assigns. 
 9. You acknowledge that you have had an
opportunity to independently review and read and obtain independent advice with respect to the details of this Agreement and confirm that you are executing this Agreement freely, voluntarily and without duress. 

10. This Agreement will be interpreted and enforced in accordance with the laws of the State of Illinois. The parties agree to the exclusive jurisdiction and
venue of any state court of general jurisdiction in DuPage County, Illinois or the United States District Court in Chicago, Illinois. 

  
 3 

 If these terms are acceptable to you, please sign below and return one original to me. 

Dover Communication Technologies 
  

							
	By:	 	 /s/ Ray Cabrera
	 		 	Date: April 2, 2013
		 	Ray Cabrera	 		 	
		 	Vice President Human Resources	 		 	

  

					
	Accepted by:	 		 	
			
	 /s/ D. W. Wightman
	 		 	Date: April 13, 2013
	Signature	 		 	

  
 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}]]