Document:

Form of Change in Control Severance Agreement

 Exhibit 10(a) 
  
 PARKER-HANNIFIN CORPORATION 
 CHANGE IN CONTROL
SEVERANCE AGREEMENT 
  
 THIS AGREEMENT is entered into as of the
             day of         , 20     , by and between Parker-Hannifin Corporation (the “Company”)
and                                  (the “Executive”). 
  
 W I T N E S S E T H 
  
 WHEREAS, the Company considers the establishment and maintenance of a sound
and vital management to be essential to protecting and enhancing the best interests of the Company and its stockholders; and 
  
 WHEREAS, the Company recognizes that, as is the case with many publicly held corporations, the possibility of a change in control may arise and that such
possibility may result in the departure or distraction of management personnel to the detriment of the Company and its stockholders; and 
  
 WHEREAS, the Board (as defined in Section 1) has determined that it is in the best interests of the Company and its stockholders to secure the
Executive’s continued services and to ensure the Executive’s continued and undivided dedication to his duties in the event of any threat or occurrence of a change in control of the Company; and 
  
 WHEREAS, the Board has authorized the Company to enter into this Agreement.

  
 NOW, THEREFORE, for and in consideration of the premises and
the mutual covenants and agreements herein contained, the Company and the Executive hereby agree as follows: 
  
 1. Definitions. As used in this Agreement, the following terms shall have the respective meanings set forth below: 
  
 (a) “Board” means the Board of Directors of the
Company. 
  

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 (b) “Bonus” means the annual bonuses payable pursuant to the RONA Plan and the
Target Incentive Program. 
  
 (c)
“Cause” means (i) a material breach by the Executive of the duties and responsibilities of the Executive (other than as a result of incapacity due to physical or mental illness) which is demonstrably willful and deliberate on the
Executive’s part, which is committed in bad faith or without reasonable belief that such breach is in the best interests of the Company and which is not remedied in a reasonable period of time after receipt of written notice from the Company
specifying such breach or (ii) the commission by the Executive of a felony involving moral turpitude. The determination of Cause shall be made by the Board. Cause shall not exist unless and until the Company has delivered to the Executive a copy of
a resolution duly adopted by three-quarters ( 3/4) of the Board at a meeting of the Board called and held for
such purpose (after reasonable notice to the Executive and an opportunity for the Executive, together with the Executive’s counsel, to be heard before the Board), finding that in the good faith opinion of the Board the Executive was guilty of
the conduct set forth in this Section 1(c) and specifying the particulars thereof in detail. The Company must notify the Executive that it believes Cause has occurred within ninety (90) days of its knowledge of the event or condition constituting
Cause or such event shall not constitute Cause under this Agreement. For purposes of clause (i) above, any act, or failure to act, by the Executive based upon authority given pursuant to a resolution duly adopted by the Board or based upon the
advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. 
  
 (d) “Change in Control” means the occurrence of one of the following events: 
  
 (i) any “person” (as such term is defined in
Section 3(a)(9) of the Securities Exchange Act of 1934 (the “Exchange Act”) and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes a “beneficial 

  

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owner” (as defined in Rule 13d-3 under the Exchange 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 eligible to vote for the election of the Board (the “Company Voting Securities”); provided, however, that the event described in this paragraph shall not be
deemed to be a Change in Control by virtue of any of the following situations: (A) an acquisition by the Company or any Subsidiary; (B) an acquisition by any employee benefit plan sponsored or maintained by the Company or any Subsidiary; (C) an
acquisition by any underwriter temporarily holding securities pursuant to an offering of such securities; (D) a Non-Control Transaction (as defined in paragraph (iii)); (E) any acquisition by the Executive or any group of persons (within the meaning
of Sections 13(d)(3) and 14(d)(2) of the Exchange Act) including the Executive (or any entity in which the Executive or a group of persons including the Executive, directly or indirectly, holds a majority of the voting power of such entity’s
outstanding voting interests); or (F) the acquisition of Company Voting Securities from the Company, if a majority of the Board approves a resolution providing expressly that the acquisition pursuant to this clause (F) does not constitute a Change
in Control under this paragraph (i); 
  
 (ii)
individuals who, at the beginning of any period of twenty-four (24) consecutive months, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof; provided, that any person
becoming a director subsequent to the beginning of such twenty-four (24) month period, whose election, or nomination for election, by the Company’s shareholders was approved by a vote of at least two-thirds of the directors comprising the
Incumbent Board who are then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination) shall be, for purposes of this
paragraph (ii), considered as though such person were a member of the Incumbent Board; provided, however, 

  

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that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to
directors or any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed to be a member of the Incumbent Board; 
  
 (iii) the consummation of a merger, consolidation, share exchange or similar form of corporate
reorganization of the Company or any Subsidiary that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in connection with the transaction or otherwise (a “Business
Combination”), unless (A) immediately following such Business Combination: (1) more than 50% of the total voting power of the corporation resulting from such Business Combination (the “Surviving Corporation”) or, if applicable, the
ultimate parent corporation which directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), is represented by Company Voting
Securities that were outstanding immediately prior to the Business Combination (or, if applicable, shares into which such Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders
thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination, (2) no person (other than any employee benefit plan sponsored or
maintained by the Surviving Corporation or Parent Corporation) is or becomes the beneficial owner, directly or indirectly, of 20% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent
Corporation (or, if there is no Parent Corporation, the Surviving Corporation), and (3) at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation),
following the Business Combination, were members of the Incumbent Board at the time of the Board’s approval of the execution 

  

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of the initial agreement providing for such Business Combination (a “Non-Control Transaction”) or (B) the Business Combination is effected by means
of the acquisition of Company Voting Securities from the Company, and a majority of the Board approves a resolution providing expressly that such Business Combination does not constitute a Change in Control under this paragraph (iii); or 

 
 (iv) the stockholders of the Company approve a plan of
complete liquidation or dissolution of the Company or the sale or other disposition of all or substantially all of the assets of the Company and its Subsidiaries. 
  
 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires
beneficial ownership of more than 20% of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which, by reducing the number of Company Voting Securities outstanding, increases the percentage of
shares beneficially owned by such person; provided, that if a Change in Control would occur as a result of such an acquisition by the Company (if not for the operation of this sentence), and after the Company’s acquisition such
person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Change in Control shall then occur. 
  
 Notwithstanding anything in this Agreement to the contrary, if the
Executive’s employment is terminated prior to a Change in Control, and the Executive reasonably demonstrates that such termination was at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect
a Change in Control (a “Third Party”), then for all purposes of this Agreement, the date immediately prior to the date of such termination of employment shall be deemed to be the date of a Change in Control. 
  
 (e) “Company” means Parker-Hannifin Corporation,
an Ohio corporation. 
  

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 (f) “Date of Termination” means the date on which the Executive’s
employment by the Company terminates. 
  
 (g)
“Good Reason” means, without the Executive’s express written consent, the occurrence of any of the following events after a Change in Control: 
  

(i) the assignment to the Executive of any duties (including a diminution of duties) inconsistent in any adverse respect with the
Executive’s position(s), duties, responsibilities or status with the Company immediately prior to such Change in Control; (ii) an adverse change in the Executive’s reporting responsibilities, titles or offices with the Company as in effect
immediately prior to such Change in Control; (iii) any removal or involuntary termination of the Executive from the Company otherwise than as expressly permitted by this Agreement or any failure to re-elect the Executive to any position with the
Company held by the Executive immediately prior to such Change in Control; (iv) a reduction by the Company in the Executive’s rate of annual base salary as in effect immediately prior to such Change in Control or as the same may be increased
from time to time thereafter; (v) any requirement of the Company that the Executive (A) be based anywhere more than twenty-five (25) miles from the facility where the Executive is located at the time of the Change in Control or (B) travel on Company
business to an extent substantially more burdensome than the travel obligations of the Executive immediately prior to such Change in Control; (vi) the failure of the Company to (A) continue in effect any employee benefit plan or compensation plan in
which the Executive is participating immediately prior to such Change in Control, or the taking of any action by the Company which would adversely affect the Executive’s participation in or reduce the Executive’s benefits under any such
plan (including the failure to provide the Executive with a level of discretionary incentive award grants consistent with the past practice of the Company in granting such awards to the Executive during the three-Year period immediately preceding
the Change in Control), (B) provide the Executive and the Executive’s 

  

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dependents with welfare benefits (including, without limitation, medical, prescription, dental, disability, salary continuance, employee life, group life,
accidental death and travel accident insurance plans and programs) in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive immediately prior to such Change
in Control, (C) provide fringe benefits in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive immediately prior to such Change in Control, or (D) provide
the Executive with paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive immediately prior to such Change in Control, unless in the case
of any violation of (A), (B) or (C) above, the Executive is permitted to participate in other plans, programs or arrangements which provide the Executive (and, if applicable, the Executive’s dependents) with no less favorable benefits at no
greater cost to the Executive; or (vii) the failure of the Company to obtain the assumption agreement from any successor as contemplated in Section 9(b). 
  
 Any event or condition described in Sections 1(g)(i) through (vi) which occurs prior to a Change in Control, but was at the request of a Third Party,
shall constitute Good Reason following a Change in Control for purposes of this Agreement (as if a Change in Control had occurred immediately prior to the occurrence of such event or condition) notwithstanding that it occurred prior to the Change in
Control. For purposes of this Agreement, any good faith determination of Good Reason made by the Executive shall be conclusive; provided, however, that an isolated, insubstantial and inadvertent action taken in good faith and which is
remedied by the Company promptly after receipt of notice thereof given by an Executive shall not constitute Good Reason. The Executive’s right to terminate employment for Good Reason shall not be affected by the Executive’s incapacitation
due to mental or physical illness and the Executive’s continued employment shall not constitute consent to or a waiver of rights with respect to any event or condition constituting Good 

  

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Reason. The Executive must provide notice of termination within ninety (90) days of his knowledge of an event or condition constituting Good Reason hereunder
or such event shall not constitute Good Reason hereunder. A transaction which results in the Company no longer being a publicly traded entity shall not in and of itself be treated as Good Reason unless and until one of the events or conditions set
forth in Sections 1(g)(i) through (vii) occurs. 
  
 Notwithstanding anything in this Section 1(g) to the contrary, if during the 180-day period commencing upon the 91st day immediately following a Change in Control, the Executive’s employment terminates for any or no reason (other than
for Cause) such termination shall be treated as a termination for Good Reason hereunder. 
  
 (h) “Nonqualifying Termination” means a termination of the Executive’s employment (i) by the Company for Cause, (ii) by the
Executive for any reason other than Good Reason, (iii) as a result of the Executive’s death, (iv) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least one hundred eighty (180)
consecutive days as a result of the Executive’s incapacity due to physical or mental illness or (v) as a result of the Executive’s Retirement. 
  
 (i) “Projected Bonus Amount” means, with respect to any Year, the greater of (i) the Executive’s Target Bonus Amount for
such Year; or (ii) to the extent calculable after at least one calendar quarter of the Year, the Bonus the Executive would have earned in the Year in which the Executive’s Date of Termination occurs had the Company’s financial performance
through the end of the fiscal quarter immediately preceding the Date of Termination continued throughout said Year (the “Earned Bonus Amount”). 
  
 (j) “Retirement” means the Executive’s mandatory retirement (not including any mandatory early retirement) in accordance
with the Company’s retirement policy generally applicable to its salaried employees, as in effect immediately prior to the Change in Control, 

  

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or in accordance with any retirement arrangement established with respect to the Executive with the Executive’s written consent. 
  
 (k) “RONA Plan” means the Company’s Return on
Net Assets Plan, or any successor thereto. 
  
 (l) “Subsidiary” means any corporation or other entity in which the Company has a direct or indirect ownership interest of 50% or more of the total combined voting power of the then outstanding securities of such corporation or
other entity. 
  
 (m) “Target Bonus
Amount” means, with respect to any Year, the Participant’s target Bonus for such Year based upon the Company’s forecasted Operational Plan. 
  
 (n) “Target Incentive Program” means the Company’s Target Incentive Program, or any successor thereto. 
  
 (o) “Termination Period” means the period of time
beginning with a Change in Control and ending three (3) years following such Change in Control. 
  
 (p) “Year” means the fiscal year of the Company. 
  
 2. Payments Upon Termination of Employment. 
  
 (a) If during the Termination Period the employment of the Executive shall terminate, other than by reason
of a Nonqualifying Termination, then the Company shall pay to the Executive (or the Executive’s beneficiary or estate), within five (5) days following the Date of Termination, as compensation for services rendered to the Company: 
  
 (i) a lump-sum cash amount equal to the sum of (A) the
Executive’s base salary from the Company and its Subsidiaries through the Date of Termination and any outstanding Bonus or long-term bonus awards for which payment is due and 

  

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owing at such time, (B) any compensation previously deferred by the Executive other than pursuant to a tax-qualified plan (together with any interest and
earnings thereon) (the “Deferred Amount”), plus an additional adjustment payment calculated in accordance with the formula set forth in Exhibit A hereto, (C) any accrued vacation pay, and (D) to the extent not provided under the
Company’s Bonus plans, a pro-rata portion of the Executive’s Projected Bonus Amount for the Year in which the Executive’s Date of Termination occurs, in each case to the extent not theretofore paid; plus 
  
 (ii) a lump-sum cash amount equal to the product of (A) the
lesser of (1) three (3) and (2) the quotient resulting from dividing the number of full and partial months from the Executive’s Date of Termination until the Executive would be subject to Retirement, by twelve (12) and (B) the sum of (1) the
Executive’s highest annual rate of base salary during the 12-month period immediately preceding the Date of Termination and (2) the highest of (x) the Executive’s average Bonus (annualized for any partial Years of employment) earned during
the 3-Year period immediately preceding the Year in which the Date of Termination occurs (or shorter annualized period if the Executive had not been employed for the full three-Year period), (y) the Executive’s Target Bonus Amount for the Year
in which the Change in Control occurs and (z) the Executive’s Target Bonus Amount for the Year in which the Date of Termination occurs; provided, that any amount paid pursuant to this Section 2(a)(ii) shall offset an equal amount of any
severance relating to salary or bonus continuation to be received by the Executive upon termination of employment of the Executive under any severance plan, policy, or arrangement of the Company. 
  
 (b) If during the Termination Period, the employment of the
Executive shall terminate, other than by reason of a Nonqualifying Termination, for a period of three (3) years (or, if lesser, the period ending on the date on which the Executive would be subject to Retirement) commencing on the Date of
Termination, the Company shall continue to keep 

  

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in full force and effect (or otherwise provide) all policies of medical, accident, disability and life insurance with respect to the Executive and his
dependents with the same level of coverage, upon the same terms and otherwise to the same extent (and on the same after-tax basis), as such policies shall have been in effect immediately prior to the Date of Termination (or, if more favorable to the
Executive, immediately prior to the Change in Control), and the Company and the Executive shall share the costs of the continuation of such insurance coverage in the same proportion as such costs were shared immediately prior to the Date of
Termination. 
  
 (c) If during the Termination
Period the employment of the Executive shall terminate, other than by reason of a Nonqualifying Termination, then the Executive shall be credited with three (3) years additional age and service credit for purposes of qualifying for any retiree
medical benefits programs of the Company, although receipt of such retiree medical benefits shall not commence until the Executive is otherwise eligible under the terms of the retiree medical plan. If the Executive is terminated pursuant to a
Nonqualifying Termination and would have been eligible to retire under the terms and conditions of the Company’s retiree medical program as of immediately prior to the Executive’s Date of Termination (or, if more favorable to the
Executive, as of immediately prior to the Change in Control), the Executive’s termination of employment shall be treated as a retirement under the Company’s retiree medical program. The retiree medical benefits (and cost) to be provided to
the Executive (and the Executive’s eligible dependents) by the Company shall be no less favorable than the benefits (and cost) under the retiree medical program of the Company as of immediately prior to the Executive’s Date of Termination
(or, if more favorable to the Executive, as of immediately prior to the Change in Control), and shall be provided notwithstanding any amendment to, or termination of, the Company’s retiree medical program. 
  

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 (d) If during the Termination Period the employment of the Executive shall terminate by
reason of a Nonqualifying Termination, then the Company shall pay to the Executive within thirty (30) days following the Date of Termination, a cash amount equal to the sum of (i) the Executive’s base salary from the Company and its
Subsidiaries through the Date of Termination and any outstanding Bonus or long-term bonus awards for which payment is due and owing at such time, (ii) any compensation previously deferred by the Executive other than pursuant to a tax-qualified plan
(together with any interest and earnings thereon), (iii) any accrued vacation pay, and (iv) if the Nonqualifying Termination is other than for Cause, to the extent not provided under the Company’s Bonus plans, a pro-rata portion of the
Executive’s Earned Bonus Amount for the Year in which the Executive’s Date of Termination occurs, in each case to the extent not theretofore paid. 
  
 (e) If subsequent to a Change in Control and the end of the Termination Period, the employment of the Executive shall be terminated by the
Company (other than by reason of a Nonqualifying Termination), the Company shall pay the Executive within five (5) days following his Date of Termination a lump sum cash payment equal to the sum of (i) the Executive’s highest annual rate of
base salary during the 12-month period immediately preceding the Date of Termination and (ii) the higher of (A) the Executive’s average Bonus (annualized for any partial Years of employment) earned during the 3-Year period immediately preceding
the Year in which the Date of Termination occurs and (B) the Executive’s Target Bonus Amount for the Year in which the Date of Termination occurs; provided, that any amount paid pursuant to clauses (i) and (ii) of this Section
2(e) shall offset an equal amount of any severance relating to salary or bonus continuation to be received by the Executive upon termination of employment of the Executive under any severance plan, policy or arrangement of the Company. 

 
 (f) If subsequent to a Change in Control and the end of
the Termination Period, the employment of the Executive shall be terminated by the Company, the Company shall pay the Executive within five (5) days following his Date of Termination a lump sum cash 

  

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payment equal to (i) the Executive’s base salary from the Company and its Subsidiaries through the Date of Termination and any outstanding Bonus or
long-term bonus awards for which payment is due and owing at such time, (ii) any accrued vacation pay, and (iii) if the termination is other than for Cause, to the extent not provided under the Company’s Bonus plans, a pro-rata portion of the
Executive’s Earned Bonus Amount for the Year in which the Executive’s Date of Termination occurs, in each case to the extent not theretofore paid. 
  
 3. Gross-Up Payment. 
  
 (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment, distribution or
acceleration of vesting of any award or benefit by the Company or its Subsidiaries to or for the benefit of the Executive (whether paid or payable, distributed or distributable or accelerated or subject to acceleration pursuant to the terms of this
Agreement or otherwise) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any
such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by the
Executive of all taxes (including any interest or penalties imposed with respect to such taxes) imposed upon the Gross-Up Payment, the Executive retains an amount equal to the sum of (i) the Excise Tax imposed upon the Payments and (ii) the product
of any deductions disallowed because of the inclusion of the Gross-Up Payment in the Executive’s adjusted gross income for federal income tax purposes and the highest applicable marginal rate of federal income taxation for the calendar year in
which the Gross-Up Payment is to be made. For purposes of determining the amount of the Gross-Up Payment, the Executive shall be deemed to (1) pay applicable federal income taxes at the highest applicable marginal rates of federal income taxation
for the calendar year in which the Gross-Up Payment is to be made, (2) pay applicable state and local income taxes at the highest applicable marginal rate of taxation for the calendar year in which the Gross-Up 

  

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Payment is to be made, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes and (3) have
otherwise allowable deductions for federal income tax purposes at least equal to those which could be disallowed because of the inclusion of the Gross-Up Payment in the Executive’s adjusted gross income. The payment of a Gross-Up Payment under
this Section 3(a) shall in no event be conditioned upon the Executive’s termination of employment or the receipt of severance benefits under this Agreement. 
  
 (b) Subject to the provisions of Section 3(a), all determinations required to be made under this Section 3,
including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by Towers Perrin Forster & Crosby, Inc. (the “Consulting
Firm”) which shall provide detailed supporting calculations both to the Company and the Executive within fifteen (15) business days of the receipt of notice from the Company or the Executive that there has been a Payment, or such earlier time
as is requested by the Company (collectively, the “Determination”). In the event that the Consulting Firm (or any affiliate thereof) is serving as a consultant for the individual, entity or group effecting the Change in Control, the
Executive may appoint a nationally recognized public accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Consulting Firm hereunder). All fees and expenses of the Consulting Firm shall
be borne solely by the Company and the Company shall enter into any agreement requested by the Consulting Firm in connection with the performance of the services hereunder. The Gross-Up Payment under this Section 3 with respect to any Payments shall
be made no later than thirty (30) days following the date of such Payment. If the Consulting Firm determines that no Excise Tax is payable by the Executive, it shall furnish the Executive with a written opinion to such effect, and to the effect that
failure to report the Excise Tax, if any, on the Executive’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty. The Determination by the Consulting Firm shall be binding 

  

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upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the Determination, it is
possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”) or Gross-Up Payments are made by the Company which should not have been made (“Overpayment”), consistent with the
calculations required to be made hereunder. In the event that the Executive thereafter is required to make payment of any additional Excise Tax, the Consulting Firm shall determine the amount of the Underpayment that has occurred and any such
Underpayment (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code) shall be promptly paid by the Company to or for the benefit of the Executive. In the event the amount of the Gross-Up Payment exceeds the amount
necessary to reimburse the Executive for his Excise Tax, the Consulting Firm shall determine the amount of the Overpayment that has been made and any such Overpayment (together with interest at the rate provided in Section 1274(b)(2) of the Code)
shall be promptly paid by the Executive to or for the benefit of the Company. The Executive shall cooperate, to the extent his expenses are reimbursed by the Company, with any reasonable requests by the Company in connection with any contests or
disputes with the Internal Revenue Service in connection with the Excise Tax. 
  
 (c) Notwithstanding Section 6 hereof, this Section 3 shall survive the termination of this Agreement unless the Executive’s employment was terminated by the Company for Cause. 
  
 4. Withholding Taxes. The Company may withhold from all payments due
to the Executive (or his beneficiary or estate) hereunder all taxes which, by applicable federal, state, local or other law, the Company is required to withhold therefrom. 
  
 5. Reimbursement of Expenses. If any contest or dispute shall arise under this Agreement involving termination of the
Executive’s employment with the Company or involving the failure or refusal of the Company to perform fully in accordance with the terms hereof, the Company 

  

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shall reimburse the Executive, on a current basis, for all legal fees and expenses, if any, incurred by the Executive in connection with such contest or
dispute (regardless of the result thereof), together with interest in an amount equal to the prime rate of Key Bank from time to time in effect, but in no event higher than the maximum legal rate permissible under applicable law, such interest to
accrue from the date the Company receives the Executive’s statement for such fees and expenses through the date of payment thereof. 
  
 6. Termination of Agreement. This Agreement shall be effective on the date hereof and shall continue until the first to occur of (i) the
termination of the Executive’s employment with the Company prior to a Change in Control (except as otherwise provided hereunder), (ii) a Nonqualifying Termination, or (iii) the Executive’s termination of employment following the
Termination Period. 
  
 7. Scope of Agreement. Nothing in
this Agreement shall be deemed to entitle the Executive to continued employment with the Company or its Subsidiaries, and if the Executive’s employment with the Company shall terminate prior to a Change in Control, the Executive shall have no
further rights under this Agreement (except as otherwise provided hereunder); provided, however, that notwithstanding anything herein to the contrary, any termination of the Executive’s employment following a Change in Control
shall be subject to all of the benefit and payment provisions of this Agreement. 
  
 8. Obligations of the Executive. The Executive agrees that if a Change in Control shall occur, the Executive shall not voluntarily leave the employ of the Company without Good Reason during the 90-day period
immediately following a Change in Control. 
  
 9.
Successors’ Binding Obligation. 
  
 (a) This Agreement shall not be terminated by any Business Combination or transfer of assets. In the event of any Business Combination or transfer or assets, the 

  

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provisions of this Agreement shall be binding upon the surviving or resulting corporation or any person or entity to which the assets of the Company are
transferred. 
  
 (b) The Company agrees that
concurrently with any Business Combination or transfer of assets, it will cause any successor or transferee unconditionally to assume by written instrument delivered to the Executive (or his beneficiary or estate) all of the obligations of the
Company hereunder. Failure of the Company to obtain such assumption prior to the effectiveness of any such Business Combination or transfer of assets that results in a Change in Control shall constitute Good Reason hereunder and shall entitle the
Executive to compensation and other benefits from the Company in the same amount and on the same terms as the Executive would be entitled hereunder if the Executive’s employment were terminated following a Change in Control other than by reason
of a Nonqualifying Termination. For purposes of implementing the foregoing, the date on which any such Business Combination or transfer of assets becomes effective shall be deemed the date Good Reason occurs, and the Executive may terminate
employment for Good Reason on or following such date. 
  
 (c) This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die
while any amounts would be payable to the Executive hereunder had the Executive continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to such person or persons appointed
in writing by the Executive to receive such amounts or, if no person is so appointed, to the Executive’s estate. 
  
 10. Notice. 
  
 (a) For purposes of this Agreement, all notices and other communications required or permitted hereunder shall be in writing and shall be
deemed to have been duly 

  

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given when delivered or five (5) days after deposit in the United States mail, certified and return receipt requested, postage prepaid, addressed as follows:

  

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 If to the Executive: 
  
 If to the Company: 
  

Parker-Hannifin Corporation 
 6035 Parkland Boulevard 
 Cleveland, Ohio 44124-4141 
 Attention: Secretary 
  
 or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt. Alternatively, notice may be deemed to have been delivered when sent by facsimile or telex to a location provided by the other party hereto. 
  
 (b) A written notice of the Executive’s Date of Termination by the Company or the Executive, as the
case may be, to the other, shall (i) indicate the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
Executive’s employment under the provision so indicated and (iii) specify the termination date (which date shall not be less than fifteen (15) nor more than sixty (60) days after the giving of such notice). The failure by the Executive or the
Company to set forth in such notice any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company hereunder or preclude the Executive or the Company from asserting such fact
or circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
  
 11. Full Settlement; No Mitigation. The Company’s obligation to make any payments provided for by this Agreement to the Executive and otherwise to perform its obligations hereunder shall not be affected by
any set-off, counterclaim, recoupment, defense or other claim, right or action 

  

 19 

 
which the Company may have against the Executive or others. In no event shall the Executive be obligated to seek other employment or take other action by way
of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not the Executive obtains other employment. 
  
 12. Employment with Subsidiaries. Employment with the Company for
purposes of this Agreement shall include employment with any Subsidiary. 
  
 13. Governing Law; Validity. The interpretation, construction and performance of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Ohio without
regard to the principle of conflicts of laws. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which other provisions shall remain in full
force and effect. 
  
 14. Counterparts. This Agreement may
be executed in counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument. 
  
 15. Miscellaneous. No provision of this Agreement may be modified or waived unless such modification or waiver is agreed to in writing and signed
by the Executive and by a duly authorized officer of the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other
party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. Failure by the Executive or the Company to insist upon strict compliance with any provision of this Agreement or to
assert any right the Executive or the Company may have hereunder, including without limitation, the right of the Executive to terminate employment for Good Reason, shall not be deemed to be a waiver of such provision or right or any other provision
or right of this Agreement. Except as otherwise specifically provided herein, the rights of, and benefits payable to, the Executive, his estate or his beneficiaries pursuant to this Agreement are in addition to any rights of, or benefits payable to,
the Executive, his 

  

 20 

 
estate or his beneficiaries under any other employee benefit plan or compensation program of the Company. 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by a
duly authorized officer of the Company and the Executive has executed this Agreement as of the day and year first above written. 
  

	 PARKER-HANNIFIN CORPORATION

		
	 By:
	 	  

	 	 	 Thomas A. Piraino, Jr., Vice President
 General Counsel and Secretary

		
	 	 	

	 	 	 Name:
 Title:

  

 21 

 EXHIBIT A 
  
 The purpose of the adjustment payment to be added to the Deferred Amount pursuant to Section 2(a)(i)(3) (the “Make Whole Amount”)
is to offset the Executive’s inability to defer until retirement or later the payment of taxes on both the Deferred Amount and the earnings and interest that would have otherwise accrued between the Date of Termination and the date on which the
Executive elected to commence receipt of the Deferred Amount (the “Commencement Date”) under the Company’s Executive Deferral Plan (the “Plan”). 
  
 The Make Whole Amount shall be calculated as follows: 
  
 1. The Executive’s Deferred Amount under the Plan as of the Date of Termination (the “EDP Amount”) will be
projected forward to the Commencement Date at an assumed tax-deferred annual earnings rate equal to the Moody’s Seasoned Baa Corporate Bond Yield Average for the last twelve full calendar months prior to the Date of Termination (the
“Moody’s Rate”) (such projected amount shall be known as the “Projected Balance”). The Projected Balance will then be converted into annual installment benefit payments based upon the Executive’s elected form of
retirement payments under the Plan, assuming continued tax-deferred earnings on the undistributed balance at the Moody’s Rate (the “Projected Annual Payouts”). The Projected Annual Payouts will then be reduced for assumed income taxes
at the highest applicable federal, state and local marginal rates of taxation in effect in the Executive’s taxing jurisdiction(s) for the calendar year in which the Make Whole Amount is paid (the “Tax Rate”). The after-tax Projected
Annual Payouts will be known as the “After-Tax Projected Benefits”. 
  
 2. The term “Made Whole Amount”, as used herein, shall mean the EDP Amount plus the Make Whole Amount. The Make Whole Amount is the amount which, when added to the EDP Amount, will yield After-Tax Annuity
Benefits (as hereinafter defined) equal to the After-Tax Projected Benefits, based on the following assumptions: 
  
 a. The Made Whole Amount will be taxed at the Tax Rate upon receipt by the Executive. 
  
 b. The after-tax Made Whole Amount will be deemed to be
invested by the Executive in a tax-deferred annuity that is structured to make payments beginning on the Commencement Date in the same form as elected by the Executive under the Plan (the “Annuity”). 
  
 c. The Annuity will accrue interest at the Moody’s
Rate, less 80 basis points (i.e., 0.80%). 
  
 d.
Annual Annuity payments will be taxed at the Tax Rate (after taking into account the annuity exclusion ratio), yielding “After-Tax Annuity Benefits”. 
  

 22Form of Indemnification Agreement

 Exhibit 10(c) 
  
 INDEMNIFICATION AGREEMENT 
  
 This Indemnification Agreement (“Agreement”) is made as of the 14th day of August, 2003, by and between Parker-Hannifin Corporation, an Ohio
corporation (the “Company”), and                                  (the
“Indemnitee”). 
  
 RECITALS 
  
 A. The Indemnitee is presently serving as a member (a “Director”)
of the board of directors (the “Board”) of the Company and the Company desires the Indemnitee to continue in that capacity. The Indemnitee is willing, subject to certain conditions including the execution and performance of this Agreement
by the Company, to continue in that capacity. 
  
 B. In addition
to the indemnification to which the Indemnitee is entitled under the Regulations of the Company (as in effect on the date hereof, the “Regulations”), the Company has obtained, at its sole expense, insurance protecting the Company and its
officers and directors including the Indemnitee against certain losses arising out of actual or threatened actions, suits, or proceedings to which such persons may be made or threatened to be made parties. However, as a result of circumstances
having no relation to, and beyond the control of, the Company and the Indemnitee, there can be no assurance of the continuation or renewal of that insurance. 
  
 Accordingly, and in order to induce the Indemnitee to continue to serve in the Indemnitee’s present capacity, the Company and the Indemnitee agree as
follows: 
  

	1.	 	Continued Service. The Indemnitee shall continue to serve at the will of the Company as a Director of the Company so long as the Indemnitee is duly elected and qualified in
accordance with the Regulations or until the Indemnitee resigns in writing in accordance with applicable law. This Agreement shall not be deemed either an employment contract or a contract for continued services between the Company or any of its
Affiliates and the Indemnitee. 

  

	2.	 	Indemnification. 

  

	 	(a)	 	The Company shall indemnify and hold harmless the Indemnitee to the fullest extent permitted by the laws of the State of Ohio in effect on the date hereof or as such laws may from
time to time hereafter be amended to increase the scope of such permitted indemnification, if or when the Indemnitee was or is a party, or is threatened to be made a party, to any threatened, pending, or completed action, suit, or proceeding,
whether civil, criminal, administrative, or investigative (other than an action by or in the right of the Company), by reason of the fact that the Indemnitee is or was a Director, officer, employee, or agent of the Company, or is or was serving at
the request of the Company as a director, trustee, officer, employee, member, manager, or agent of another corporation, domestic or foreign, nonprofit or for profit, a limited liability company, or a 

  

 partnership, joint venture, trust, or other enterprise, or by reason of any action alleged to have been
taken or omitted in any such capacity, against any and all expenses, including attorney’s fees, judgments, fines and amounts paid in settlement (collectively, “Expenses”), actually and reasonably incurred by the Indemnitee in
connection therewith, including any appeal of or from any judgment or decision, unless it is proved by clear and convincing evidence in a court of competent jurisdiction that the Indemnitee’s action or failure to act involved an act or omission
undertaken with deliberate intent to cause injury to the Company or undertaken with reckless disregard for the best interests of the Company and, with respect to any criminal action or proceeding, if the Indemnitee had no reasonable cause to believe
the Indemnitee’s conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the
Indemnitee did not satisfy the foregoing standard of conduct to the extent applicable thereto. 
  

	 	(b)	 	The Company shall indemnify and hold harmless the Indemnitee, to the fullest extent permitted by the laws of the State of Ohio in effect on the date hereof or as such laws may from
time to time hereafter be amended to increase the scope of such permitted indemnification, if or when the Indemnitee was or is a party, or is threatened to be made a party, to any threatened, pending, or completed action, suit or proceeding by or in
the right of the Company to procure a judgment in its favor, by reason of the fact that the Indemnitee is or was a Director, officer, employee, or agent of the Company, or is or was serving at the request of the Company as a director, trustee,
officer, employee, member, manager, or agent of another corporation, domestic or foreign, nonprofit or for profit, a limited liability company, or a partnership, joint venture, trust, or other enterprise, against any and all Expenses actually and
reasonably incurred by the Indemnitee in connection with the defense or settlement thereof or any appeal of or from any judgment or decision, unless it is proved by clear and convincing evidence in a court of competent jurisdiction that the
Indemnitee’s action or failure to act involved an act or omission undertaken with deliberate intent to cause injury to the Company or undertaken with reckless disregard for the best interests of the Company, except that no indemnification shall
be made in respect of any action, suit or proceeding in which the only liability asserted against the Indemnitee is pursuant to Section 1701.95 of the Ohio Revised Code (“ORC”). 

  

	 	(c)	 	Any indemnification under Section 2(a) or 2(b), unless ordered by a court, shall be made by the Company only as authorized in the specific case, upon a determination that
indemnification of the Indemnitee is proper in the circumstances because the Indemnitee has met the applicable standard of conduct set forth in Section 2(a) or 2(b). Such determination shall be made: 

  

	 	(i)	 	by the Board by a majority vote of a quorum consisting of Directors who were not and are not parties to or threatened with the action, suit, or proceeding referred to in Section
2(a) or 2(b); 

  

 2 

	 	(ii)	 	if such a quorum of disinterested Directors is not obtainable or if a majority vote of such quorum of disinterested Directors so directs, in a written opinion by independent legal
counsel (designated for such purpose by the Board) which shall not be an attorney, or a firm having associated with it an attorney, who has been retained by or who has performed services for the Company or any person to be indemnified within the
five years preceding such determination; 

  

	 	(iii)	 	by the shareholders of the Company; or 

  

	 	(iv)	 	by the court of common pleas or the court in which such action, suit, or proceeding was brought. 

  

	 	(d)	 	To the extent that the Indemnitee has been successful on the merits or otherwise, including the dismissal of an action without prejudice, in defense of any action, suit, or
proceeding referred to in Section 2(a) or 2(b), or in defense of any claim, issue, or matter therein, the Indemnitee shall be indemnified against Expenses actually and reasonably incurred by the Indemnitee in connection therewith. Expenses actually
and reasonably incurred by the Indemnitee in defending any such action, suit, or proceeding shall be paid by the Company as they are incurred in advance of the final disposition of such action, suit, or proceeding under the procedure set forth in
Section 4(b). 

  

	 	(e)	 	For purposes of this Agreement, references to “other enterprise” shall include any employee benefit plan; references to “fines” shall include any excise taxes
assessed on the Indemnitee with respect to any employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, officer, employee, or agent of the Company which imposes duties on, or
involves services by, the Indemnitee with respect to an employee benefit plan, its participants or beneficiaries. 

  

	3.	 	Additional Indemnification. Pursuant to ORC Section 1701.13(E)(6), without limiting any right which the Indemnitee may have pursuant to Section 2 or any other provision of
this Agreement or the Articles of Incorporation of the Company (as amended as of the date hereof, the “Articles”), the Regulations, the ORC, any policy of insurance, or otherwise, but subject to any limitation on the maximum permissible
indemnity which may exist under applicable law at the time of any request for indemnity hereunder and subject to the following provisions of this Section 3, the Company shall indemnify the Indemnitee against any amount which the Indemnitee is or
becomes obligated to pay relating to or arising out of any claim made against the Indemnitee because of any act, failure to act, or neglect or breach of duty, including any actual or alleged error, misstatement, or misleading statement, which the
Indemnitee commits, suffers, permits, or acquiesces in while acting in the Indemnitee’s capacity as a Director of the Company. The payments which the Company is obligated to make pursuant to this Section 3 shall include any and all Expenses
actually and reasonably incurred by the Indemnitee in connection therewith, including any appeal of or from any judgment or decision; 

  

 3 

 provided, however, that the Company shall not be obligated under this Section 3 to make any payment in
connection with any claim against the Indemnitee: 
  

	 	(a)	 	to the extent of any fine or similar governmental imposition which the Company is prohibited by applicable law from paying which results from a final, nonappealable order; or

  

	 	(b)	 	to the extent based upon or attributable to the Indemnitee having actually realized a personal gain or profit to which the Indemnitee was not legally entitled, including profit from
the purchase and sale by the Indemnitee of equity securities of the Company which are recoverable by the Company pursuant to Section 16(b) of the Securities Exchange Act of 1934, or profit arising from transactions in publicly traded securities of
the Company which were effected by the Indemnitee in violation of Section 10(b) of the Securities Exchange Act of 1934, or Rule 10b-5 promulgated thereunder. 

  
 A determination as to whether the Indemnitee shall be entitled to indemnification under this Section 3 shall be made in accordance with
Section 4(a). Expenses incurred by the Indemnitee in defending any claim to which this Section 3 applies shall be paid by the Company as they are actually and reasonably incurred in advance of the final disposition of such claim under the procedure
set forth in Section 4(b). 
  

	4.	 	Certain Procedures Relating to Indemnification. (a) For purposes of pursuing the Indemnitee’s rights to indemnification under Sections 2 or 3, the Indemnitee shall (i)
submit to the Board a sworn statement of request for indemnification substantially in the form of Exhibit 1 (the “Indemnification Statement”) averring that the Indemnitee is entitled to indemnification hereunder; and (ii) present to
the Company reasonable evidence of all amounts for which indemnification is requested. Submission of an Indemnification Statement to the Board shall create a presumption that the Indemnitee is entitled to indemnification hereunder, and the Company
shall, within 60 calendar days after submission of the Indemnification Statement, make the payments requested in the Indemnification Statement to or for the benefit of the Indemnitee, unless (i) within such 60-calendar day period the Board shall
resolve by vote of a majority of the Directors at a meeting at which a quorum is present that the Indemnitee is not entitled to indemnification under Section 3, (ii) such vote shall be based upon clear and convincing evidence (sufficient to rebut
the foregoing presumption), and (iii) the Indemnitee shall have received within such period notice in writing of such vote, which notice shall disclose with particularity the evidence upon which the vote is based. The foregoing notice shall be sworn
to by all persons who participated in the vote and voted to deny indemnification. The provisions of this Section 4(a) are intended to be procedural only and shall not affect the right of Indemnitee to indemnification under Section 3 so long as
Indemnitee follows the prescribed procedure and any determination by the Board that Indemnitee is not entitled to indemnification and any failure to make the payments requested in the Indemnification Statement shall be subject to judicial review by
any court of competent jurisdiction. 

  

 4 

	 	(b)	 	For purposes of obtaining payments of Expenses in advance of final disposition pursuant to the second sentence of Section 2(d) or the last sentence of Section 3, the Indemnitee
shall submit to the Company a sworn request for advancement of Expenses substantially in the form of Exhibit 2 (the “Undertaking”), averring that the Indemnitee has reasonably incurred actual Expenses in defending an action, suit or
proceeding referred to in Section 2(a) or 2(b) or any claim referred to in Section 3, or pursuant to Section 9. Unless at the time of the Indemnitee’s act or omission that is the subject of an action referred to in Section 2(a) or 2(b), the
Articles or the Regulations prohibit such advances by specific reference to ORC Section 1701.13(E)(5)(a) and unless the only liability asserted against the Indemnitee in the subject action, suit or proceeding is pursuant to ORC Section 1701.95, the
Indemnitee shall be eligible to execute Part A of the Undertaking by which the Indemnitee undertakes to (i) repay such amount if it is proved by clear and convincing evidence in a court of competent jurisdiction that the Indemnitee’s action or
failure to act involved an act or omission undertaken with deliberate intent to cause injury to the Company or undertaken with reckless disregard for the best interests of the Company and (ii) reasonably cooperate with the Company concerning the
action, suit, or proceeding. In all cases, the Indemnitee shall be eligible to execute Part B of the Undertaking by which the Indemnitee undertakes to repay such amount if it ultimately is determined that the Indemnitee is not entitled to be
indemnified by the Company under this Agreement or otherwise. In the event that the Indemnitee is eligible to and does execute both Part A and Part B of the Undertaking, the Expenses which are paid by the Company pursuant thereto shall be required
to be repaid by the Indemnitee only if the Indemnitee is required to do so under the terms of both Part A and Part B of the Undertaking. Upon receipt of the Undertaking, the Company shall thereafter promptly pay such Expenses of the Indemnitee as
are noticed to the Company in writing and in reasonable detail arising out of the matter described in the Undertaking. No security shall be required in connection with any Undertaking. 

  

	5.	 	Partial Indemnity, etc. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any Expenses but not
for all of the total amount thereof, the Company will nevertheless indemnify the Indemnitee for the portion thereof to which the Indemnitee is entitled. In connection with any determination as to whether Indemnitee is entitled to be indemnified
hereunder, there will be a presumption that Indemnitee is so entitled, which presumption the Company may overcome only by its adducing clear and convincing evidence to the contrary. 

  

	6.	 	Limitation on Indemnity. Notwithstanding anything contained herein to the contrary, the Company shall not be required hereby to indemnify the Indemnitee with respect to any
action, suit, or proceeding that was initiated by the Indemnitee unless (a) such action, suit, or proceeding was initiated by the Indemnitee to enforce any rights to indemnification arising hereunder pursuant to Section 9, (b) authorized by another
agreement to which the Company is a party whether heretofore or hereafter entered, or (c) otherwise ordered by the court in which the suit was brought. 

  
  

 5 

	7.	 	Subrogation; Duplication of Payments. 

  

	 	(a)	 	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. 

  

	 	(b)	 	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 actually received payment
(under any insurance policy, the Regulations or otherwise) of the amounts otherwise payable hereunder. 

  

	8.	 	Defense of Claims. The Company will be entitled to participate in the defense of any action, suit, proceeding or claim that is the subject of an indemnification claim made
hereunder by the Indemnitee, or to assume the defense thereof, with counsel reasonably satisfactory to the Indemnitee, provided that in the event that (a) the use of counsel chosen by the Company to represent the Indemnitee would present such
counsel with an actual or potential conflict, (b) the named parties in any such action, suit, proceeding or claim (including any impleaded parties) include both the Company and the Indemnitee and the Indemnitee concludes that there may be one or
more legal defenses available to the Indemnitee that are different from or in addition to those available to the Company, or (c) any such representation by the Company would be precluded under the applicable standards of professional conduct then
prevailing, then the Indemnitee will be entitled to retain separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any particular action, suit, proceeding or claim) at the Company’s expense. The Company
will not, without the prior written consent of the Indemnitee, effect any settlement of any threatened or pending action, suit or proceeding to which the Indemnitee is or could have been a party unless such settlement solely involves the payment of
money and includes an unconditional release of the Indemnitee from all liability on any claims that are the subject matter of such action, suit, proceeding or claim. 

  

	9.	 	Fees and Expenses of Enforcement. It is the intent of the Company that the Indemnitee not be required to incur the expenses associated with the interpretation, enforcement or
defense of the Indemnitee’s rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder. Accordingly, if it should
appear to the Indemnitee that the Company has failed to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void or
unenforceable, or institutes any action, suit or proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder, the Company irrevocably authorizes the Indemnitee from
time to time to retain counsel of the Indemnitee’s choice, at the expense of the Company as hereafter provided, to advise and represent the Indemnitee in connection with any such interpretation, enforcement or 

  

 6 

 defense, including the initiation or defense of any litigation or other legal action, whether by or
against the Company or any director, officer, shareholder, or other person affiliated with the Company, in any jurisdiction. Regardless of the outcome thereof, the Company shall pay and be solely responsible for any and all costs, charges, and
expenses including fees and expenses of attorneys and others, reasonably incurred by the Indemnitee pursuant to this Section 9. 
  

	10.	 	Merger or Consolidation. In the event that the Company shall be a constituent corporation in a consolidation, merger, or other reorganization, the Company, if it shall not be
the surviving, resulting, or acquiring corporation therein, shall require as a condition thereto that the new, surviving, resulting, or acquiring corporation agree to assume all of the obligations of the Company hereunder and to indemnify and hold
harmless the Indemnitee to the full extent provided herein. Whether or not the Company is the new, resulting, surviving, or acquiring corporation in any such transaction, the Indemnitee shall also stand in the same position under this Agreement with
respect to the new, resulting, surviving, or acquiring corporation as the Indemnitee would if the Indemnitee had served the new, resulting, surviving, or acquiring corporation in the same capacity. 

  

	11.	 	Nonexclusivity and Severability. 

  

	 	(a)	 	The rights to indemnification provided by this Agreement shall not be exclusive of, and shall be in addition to, any other rights of indemnification to which the Indemnitee may be
entitled under the Articles, the Regulations, the ORC or any other statute, any insurance policy, agreement, or vote of shareholders or disinterested directors, or otherwise (collectively, “Other Indemnity Provisions”), both as to action
in the Indemnitee’s official capacities and as to action in another capacity while holding the Indemnitee’s offices or positions, and shall continue after the Indemnitee has ceased to be a Director, trustee, officer, employee, member,
manager, or agent of the Company or other entity for which the Indemnitee’s service gives rise to a right hereunder, and shall inure to the benefit of the Indemnitee’s heirs, executors, and administrators. To the extent that (i) Indemnitee
otherwise would have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will be deemed to have such greater right hereunder and (ii) any change is made to any Other Indemnity Provision that permits any greater right
to indemnification than that provided under this Agreement as of the date hereof, Indemnitee will be deemed to have such greater right hereunder. The Company will not adopt any amendment to the Articles or the Regulations the effect of which would
be to deny, diminish or encumber the Indemnitee’s rights under this Agreement, the Articles, the Regulations, the substantive laws of the Company’s jurisdiction of incorporation, or any other contract or otherwise.

  

	 	(b)	 	If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, unenforceable, or otherwise illegal, the remainder of
this Agreement and the application of such provision to other persons or circumstances shall not be affected, and the provision so held to 

  

 7 

 be invalid, unenforceable, or otherwise illegal shall be reformed to the extent (and only to the extent)
necessary to make it enforceable, valid, and legal. 
  

	12.	 	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Ohio, without giving effect to the principles of conflict of laws
thereof. 

  

	13.	 	Modification. This Agreement and the rights and duties of the Indemnitee and the Company hereunder may be modified only by an instrument in writing signed by both parties
hereto. 

  

	14.	 	Notices. Any notice, claim, request or demand required or permitted hereunder shall be in writing and shall be deemed to have been duly given (a) when received if delivered
in person, (b) five days after being sent by registered or certified mail, return receipt requested, postage prepaid, (c) when transmitted by facsimile (with confirmation of receipt) or (d) one business day after being sent by a nationally
recognized overnight delivery service, to the appropriate party at the address or facsimile number specified below: 

  
 If to the Company, to: 
  
 Parker-Hannifin Corporation 
 6035 Parkland Boulevard 
 Cleveland, Ohio 44124-4141 
 Attention: Corporate Secretary; and 
  
 If to the Indemnitee, to the address set forth on the signature page hereto. 
  
 Either party hereto may change its address or facsimile number for the purposes of this Section 14 by giving notice as provided herein.

  

	15.	 	Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together will constitute one and the
same agreement. 

  

	16.	 	Headings. The headings contained in this Agreement are included for purposes of convenience only, and shall not affect the meaning or interpretation of this Agreement.

  

	17.	 	Miscellaneous. References to Sections and Exhibits in this Agreement are references to Sections of and Exhibits to this Agreement unless otherwise indicated. The Exhibits to
this Agreement are incorporated herein by reference and made a part of this Agreement for all purposes. The word “including” means including without limitation. Any reference to the singular in this Agreement shall also include the plural
and vice versa. 

  

 8 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first above
written. 
  

	PARKER-HANNIFIN CORPORATION
		
	 By:
	 	

	 	 	 Thomas A. Piraino, Jr.
 Vice President, General Counsel and Secretary

  

	INDEMNITEE:
	
	 
	

	 Name:
 Address:

 Exhibit 1 
  

INDEMNIFICATION STATEMENT 
  

	STATE OF
                                       
         )
	 	 	                                       
              ) SS
	COUNTY OF
                                       
     )

  
 I,
                                        ,
being first duly sworn, do depose and say as follows: 
  

	1.	 	This Indemnification Statement is submitted pursuant to the Indemnification Agreement, dated
                    , 20     (the “Indemnification Agreement”), by and between Parker-Hannifin
Corporation (the “Company”), an Ohio corporation, and the undersigned. 

  

	2.	 	I am requesting indemnification against costs, charges, expenses (which may include fees and expenses of attorneys and/or others), judgments, fines, and amounts paid in settlement
(collectively, “Liabilities”), which have been actually and reasonably incurred by me in connection with a claim referred to in Section 3 of the aforesaid Indemnification Agreement. 

  

	3.	 	With respect to all matters related to any such claim, I am entitled to be indemnified as herein contemplated pursuant to the aforesaid Indemnification Agreement.

  

	4.	 	Without limiting any other rights which I have or may have, I am requesting indemnification against Liabilities which have or may arise out of
                                        
                                        
                                        
                                        
            
                                        
                                        
                                        
                                        
                                        
     
                                        
                                        
                                        
     . 

  
  
  

	
	 
	

	 [Signature of Indemnitee]

  
  
 Subscribed and sworn to before me, a Notary Public in and for said County and State, this
            
day of                             , 20    . 
  

	
	 
	

	 

  
 [Seal] 
  
 My commission expires the
             day of             , 20    . 
  
  

 Exhibit 2 
  

UNDERTAKING 
  

	STATE OF
                                       
         )
	 	 	                                       
              ) SS
	COUNTY OF
                                       
     )

  
 I,
                                        ,
being first duly sworn do depose and say as follows: 
  

	1.	 	This Undertaking is submitted pursuant to the Indemnification Agreement, dated
                            , 20     (the “Indemnification
Agreement”), by and between Parker-Hannifin Corporation (the “Company”), an Ohio corporation, and the undersigned. 

  

	2.	 	I am requesting payment of costs, charges, and expenses which I have reasonably incurred or will reasonably incur in defending an action, suit or proceeding, referred to in Section
2(a) or 2(b) or any claim referred to in Section 3, or pursuant to Section 9, of the aforesaid Indemnification Agreement. 

  

	3.	 	The costs, charges, and expenses for which payment is requested are, in general, all expenses related
to                                       
                                        
                                        
                                        
                                         
                                        
                                        
                                        
                                        
                                        
     
                                        
                                        
                                        
         . 

  

	4.	 	Part A 

  
 I hereby undertake to (a) repay all amounts paid pursuant hereto if it is proved by clear and convincing evidence in a court of competent jurisdiction
that my action or failure to act which is the subject of the matter described herein involved an act or omission undertaken with deliberate intent to cause injury to the Company or undertaken with reckless disregard for the best interests of the
Company and (b) reasonably cooperate with the Company concerning the action, suit, proceeding or claim. 
  

	
	 
	

	[Signature of Indemnitee]

  

 4. Part B 
  

I hereby undertake to repay all amounts paid pursuant hereto if it ultimately is determined that I am not entitled to be indemnified by the Company
under the aforesaid Indemnification Agreement or otherwise. 
  

	
	 
	

	[Signature of Indemnitee]

  
 Subscribed and
sworn to before me, a Notary Public in and for said County and State, this                          day of
                    , 20     . 
  

	
	 
	

	 

  
 [Seal] 
  
 My commission expires the
                 day of
                            , 20    .

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]