Document:

Amended and Restated Form of Change of Control Employment Agreement

 Exhibit 10.1 
 BRIGGS & STRATTON CORPORATION 
 Form 10-Q for Quarterly Period Ended September 30, 2007

 AMENDED AND RESTATED FORM OF CHANGE 
 OF CONTROL EMPLOYMENT AGREEMENT 
 Effective January 1, 2008 

 EMPLOYMENT AGREEMENT 
 AGREEMENT by and between Briggs & Stratton Corporation, a Wisconsin corporation (the “Company”) and
                                        
(the “Executive”), dated as of the      day of                     , 20    .

 The Board of Directors of the Company (the “Board”), has determined that it is in the best interests of the Company and its
shareholders to assure that the Company will have the continued dedication of the Executive, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company. The Board believes it is imperative to
diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive’s full attention and dedication to the Company currently
and in the event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefits arrangements upon a Change of Control which ensure that the compensation and benefits expectations of the Executive will be
satisfied and which are competitive with those of other corporations. Therefore, in order to accomplish these objectives, the Board has caused the Company to enter into this Agreement. 
 NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 
 1. Certain Definitions. (a) The “Effective Date” shall mean the first date during the Change of Control Period (as defined in Section 1(b)) on which a Change of Control (as defined in Section 2) occurs.
Anything in this Agreement to the contrary notwithstanding, if a Change of Control occurs and if the Executive’s employment with the Company or this Agreement is terminated prior to the date on which the Change of Control occurs, and if it is
reasonably demonstrated by the Executive that such termination of employment or of this Agreement (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in
connection with or anticipation of a Change of Control, then for all purposes of this Agreement the “Effective Date” shall mean the date immediately prior to the date of such termination of employment or purported termination of this
Agreement. 
 (b) The “Change of Control Period” shall mean the period commencing on the date hereof and ending on the third
anniversary of the date hereof; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary of such date (such date and each annual anniversary thereof shall be hereinafter referred to as the
“Renewal Date”), unless previously terminated, the Change of Control Period shall be automatically extended so as to terminate three years from such Renewal Date, unless at least 60 days prior to the Renewal Date the Company shall give
notice to the Executive that the Change of Control Period shall not be so extended. 
 2. Change of Control. For the purpose of this
Agreement, a “Change of Control” shall mean: 
 (a) The acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more
of either (i) the then outstanding shares of common stock of the Company (the “Outstanding Company 

  

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Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the
election of directors (the “Outstanding Company Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition
by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition by any corporation pursuant to a transaction
which complies with clauses (i), (ii) and (iii) of subsection (c) of this Section 2; or 
 (b) Individuals who, as of the
date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or
nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but
excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a Person other than the Board; or 
 (c) Approval by the shareholders of the Company and the
subsequent consummation of a reorganization, merger or consolidation (a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the
beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially owned, directly or indirectly, more than 60% of, respectively, the then
outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination
(including, without limitation, a corporation which as a result of such transaction owns the Company through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the
Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities
of such corporation except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were
members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 
 (d) Approval by the shareholders of the Company and the subsequent consummation of (i) a complete liquidation or dissolution of the Company or (ii) the sale or other disposition of all or substantially all
of the assets of the Company, other than to a corporation, with respect to which following such sale or other disposition, (A) more than 60% of, respectively, of the then outstanding shares of common stock of such corporation and the combined
voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who
were the beneficial owners, respectively, of the Outstanding Company Common Stock 

  

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and Outstanding Company Voting Securities immediately prior to such sale or other disposition in substantially the same proportion as their ownership,
immediately prior to such sale or other disposition, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) less than 20% of, respectively, of the then outstanding shares of common stock of
such corporation and the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by any Person (excluding any
employee benefit plan (or related trust) of the Company or such corporation), except to the extent that such Person owned 20% or more of the Outstanding Company Common Stock or Outstanding Company Voting Securities prior to the sale or disposition
and (C) at least a majority of the members of the board of directors of such corporation were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such sale or other
disposition of assets of the Company or were elected, appointed or nominated by the Board. 
 3. Employment Period. The Company hereby
agrees to continue the Executive in its employ, and the Executive hereby agrees to remain in the employ of the Company subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the third
anniversary of such date (the “Employment Period”). 
 4. Terms of Employment. (a) Position and Duties.
(i) During the Employment Period, (A) the Executive’s position (including status, offices, titles and reporting requirements), authority, duties and responsibilities shall be at least commensurate in all material respects with the
most significant of those held, exercised and assigned at any time during the 120-day period immediately preceding the Effective Date and (B) the Executive’s services shall be performed at the location where the Executive was employed
immediately preceding the Effective Date or any office or location less than 35 miles from such location. 
 (ii) During the Employment
Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Company and, to the extent
necessary to discharge the responsibilities assigned to the Executive hereunder, to use the Executive’s reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period it shall not be a
violation of this Agreement for the Executive to (A) serve on corporate, civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions and (C) manage personal
investments, so long as such activities do not significantly interfere with the performance of the Executive’s responsibilities as an employee of the Company in accordance with this Agreement. It is expressly understood and agreed that to the
extent that any such activities have been conducted by the Executive prior to the Effective Date, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date shall not
thereafter be deemed to interfere with the performance of the Executive’s responsibilities to the Company. 
 (b) Compensation.
(i) Base Salary. During the Employment Period, the Executive shall receive an annual base salary (“Annual Base Salary”), which shall be paid at a monthly rate, at least equal to twelve times the highest monthly base salary paid
or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the twelve-month period immediately preceding the month in which the Effective Date occurs. During
the 

  

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Employment Period, the Annual Base Salary shall be reviewed no more than 12 months after the last salary increase awarded to the Executive prior to the
Effective Date and thereafter at least annually and shall be first increased no more than 12 months after the last salary increase awarded to the Executive prior to the Effective Date and thereafter at least annually by the higher of (x) the
average increase (excluding promotional increases) in base salary awarded to the Executive for each of the three full fiscal years (annualized in the case of any fiscal year consisting of less than twelve full months or during which the Executive
was employed for less than twelve months) prior to the Effective Date, and (y) the percentage increase (excluding promotional increases) in base salary generally awarded to peer executives of the Company and its affiliated companies for the
year of determination. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary
as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.

 (ii) Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the
Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to the higher of (x) the average of the three highest bonuses paid or payable, including any bonus or portion thereof which has been earned but deferred,
to the Executive by the Company and its affiliated companies in respect of the five fiscal years (or such shorter period during which the Executive has been employed by the Company) immediately preceding the fiscal year in which the Effective Date
occurs (annualized for any fiscal year during such period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) and (y) the bonus paid or payable
(annualized as described above), including any bonus or portion thereof which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the most recently completed fiscal year prior to the Effective
Date (such higher amount being referred to as the “Recent Annual Bonus”). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is
awarded, (but in any event no later than March 15th following the fiscal year for which the Annual Bonus is awarded) unless the Executive shall elect to defer the receipt of such Annual Bonus pursuant to the provisions of any otherwise
applicable deferred compensation plan or arrangement. 
 (iii) Incentive. Savings and Retirement Plans. During the Employment Period,
the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such
plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities
and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in
effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated
companies. 
 (iv) Welfare Benefit Plans. During the Employment Period, the Executive and/or the Executive’s family, as the case
may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, 

  

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policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, salary
continuance, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans,
practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day
period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies. 
 (v) Expenses. During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred
by the Executive in accordance with the most favorable policies, practices and procedures of the Company and its affiliated companies in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if
more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
 (vi) Fringe Benefits. During the Employment Period, the Executive shall be entitled to fringe benefits, including, without limitation, tax and financial planning services, payment of club dues, and, if
applicable, use of an automobile and payment of related expenses, in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 120-day
period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
 (vii) Office and Support Staff. During the Employment Period, the Executive shall be entitled to an office or offices of a size and with
furnishings and other appointments, and to exclusive personal secretarial and other assistance, at least equal to the most favorable of the foregoing provided to the Executive by the Company and its affiliated companies at any time during the
120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as provided generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
 (viii) Vacation. During the Employment Period, the Executive shall be entitled to 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 at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally
at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
 5. Termination of
Employment. (a) Death or Disability. The Executive’s employment shall terminate automatically upon the Executive’s death during the Employment Period. If the Company determines in good faith that the Disability of the
Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to the Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate the
Executive’s employment. In such event, the Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the “Disability Effective Date”), provided that, within
the 30 days after such receipt, the Executive shall not have returned to full-time performance of the Executive’s duties. For purposes of this 

  

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Agreement, “Disability” shall mean the absence of the Executive from the Executive’s duties with the Company on a full-time basis for 180
consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive’s legal
representative (such agreement as to acceptability not to be withheld unreasonably). 
 (b) Cause. The Company may terminate the
Executive’s employment during the Employment Period for Cause. For the sole and exclusive purposes of this Agreement, “Cause” shall mean: 
 (i) the willful and continued failure of the Executive to perform substantially the Executive’s duties with the Company or one of its affiliates (other than any such failure resulting from incapacity due to
physical or mental illness), after a written demand for substantial performance is delivered to the Executive by the Board or the Chief Executive Officer of the Company which specifically identifies the manner in which the Board or Chief Executive
Officer believes that the Executive has not substantially performed the Executive’s duties, or 
 (ii) the willful
engaging by the Executive in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Company. 
 For purposes of this
provision, no act or failure to act, on the part of the Executive, shall be considered “willful” unless it is done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or
omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or upon the instructions of the Chief Executive Officer or a senior officer of the Company
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. The cessation of employment of the Executive shall not be
deemed to be for Cause unless and until there shall have been delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-quarters of the entire membership of the Board at a meeting of the Board
called and held for such purpose (after reasonable notice is provided to the Executive and the Executive is given an opportunity, together with counsel, to be heard before the Board), finding that, in the good faith opinion of the Board, the
Executive is guilty of the conduct described in subparagraph (i) or (ii) above, and specifying the particulars thereof in detail. 
 (c) Good Reason. The Executive’s employment may be terminated by the Executive for Good Reason. For the sole and exclusive purposes of this Agreement, “Good Reason” shall mean: 
 (i) the assignment to the Executive of any duties inconsistent in any respect with the Executive’s position (including status,
offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 4(a) of this Agreement, or any other action by the Company which results in a diminution in such position, authority, duties or
responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive; 
 (ii) any failure by the Company to comply with any of the provisions of 

  

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Section 4(b) of this Agreement, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the
Company promptly after receipt of notice thereof given by the Executive; 
 (iii) the Company’s requiring the Executive
to be based at any office or location other than as provided in Section 4(a)(i)(B) hereof or the Company’s requiring the Executive to travel on Company business to a substantially greater extent than required immediately prior to the
Effective Date; 
 (iv) any purported termination by the Company of the Executive’s employment otherwise than as
expressly permitted by this Agreement; or 
 (v) any failure by the Company to comply with and satisfy Section 11(c) of
this Agreement. 
 For purposes of this Section 5(c), any good faith determination of “Good Reason” made by the Executive shall be conclusive.
Anything in this Agreement to the contrary notwithstanding, a termination by the Executive for any reason during the 30-day period immediately following the first anniversary of the Effective Date shall be deemed to be a termination for Good Reason
for all purposes of this Agreement. 
 (d) Notice of Termination. Any termination by the Company for Cause, or by the Executive for
Good Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 12(b) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice which
(i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving
of such notice). The failure by the Executive or the Company to set forth in the Notice of Termination 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,
respectively, hereunder or preclude the Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
 (e) Date of Termination. “Date of Termination” means (i) if the Executive’s employment is terminated by the Company for Cause,
or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein, as the case may be, (ii) if the Executive’s employment is terminated by the Company other than for Cause or
Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (iii) if the Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be
the date of death of the Executive or the Disability Effective Date, as the case may be. 
 6. Obligations of the Company upon
Termination. (a) Good Reason: Other Than for Cause, Death or Disability. If, during the Employment Period, the Company shall terminate the Executive’s employment other than for Cause or Disability or the Executive shall
terminate employment for Good Reason: 
 (i) the Company shall pay to the Executive the following amounts: 
 A. within 30 days after the Date of Termination a lump sum cash amount equal to the Executive’s Annual Base Salary through the Date
of Termination to the extent not theretofore paid. 
  

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 B. A lump sum payment on the first day of the seventh month after the Date of Termination
equal to the product of (x) the higher of (I) the Recent Annual Bonus and (II) the Annual Bonus paid or payable, including any bonus or portion thereof which has been earned but deferred (and annualized for any fiscal year consisting of
less than twelve full months or during which the Executive was employed for less than twelve full months), for the most recently completed fiscal year during the Employment Period, if any (such higher amount being referred to as the “Highest
Annual Bonus”) and (y) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination, and the denominator of which is 365. 
 C. Within 30 days after the Date of Termination an amount equal to the Executive’s accrued but untaken vacation through the Date of
Termination. 
 The sum of the amounts described in Clauses (A) and (B) and (C) shall be hereinafter referred to as the
“Accrued Obligations”; 
 D. a lump sum payment on the first day of the seventh month after the Date
of Termination equal to the product of (1) three and (2) the sum of (x) the Executive’s Annual Base Salary and (y) the Highest Annual Bonus; and 
 E. a lump sum payment on the first day of the seventh month after the Date of Termination equal to the difference between (a) the
actuarial equivalent of the benefit (utilizing actuarial assumptions no less favorable to the Executive than those in effect under the Retirement Plan (as defined below) immediately prior to the Effective Date, except as specified below with respect
to increases in base salary and annual bonus) under the qualified defined benefit retirement plan in which the Executive participates (the “Retirement Plan”) and any excess or supplemental retirement plan in which the Executive
participates (together, the “SERP”) which the Executive would receive if the Executive’s employment continued for three years after the Date of Termination assuming for this purpose that all accrued benefits are fully vested, and,
assuming that (1) the Executive’s base salary increased in each of the three years by the amount required by Section 4(b)(i) (in the case of Section 4(b)(i)(y) based on increases (excluding promotional increases) in base salary
for the most recently completed fiscal year prior to the Date of Termination) had the Executive remained employed, and (2) the Executive’s annual bonus (annualized for any fiscal year consisting of less than twelve full months or during
which the Executive was employed for less than twelve full months) in each of the three years bears the same proportion to the Executive’s base salary in such year or fraction thereof as it did for the last full year prior to the Date of
Termination, and (b) the actuarial equivalent of the Executive’s actual benefit (paid or payable), if any, under the Retirement Plan and the SERP as of the Date of Termination; 
 (ii) for three years after the Executive’s Date of Termination, or such longer period as may be provided by the terms of the
appropriate plan, program, 

  

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practice or policy, the Company shall continue benefits to the Executive and/or the Executive’s family at least equal to those which would have been
provided to them in accordance with the plans, programs, practices and policies described in Section 4(b)(iv) of this Agreement if the Executive’s employment had not been terminated in accordance with the most favorable plans, practices,
programs or policies of the Company and its affiliated companies applicable generally to other peer executives and their families during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect
generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies and their families, provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive
medical or other welfare benefits under another employer provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility. For purposes of
determining eligibility (but not the time of commencement of benefits) of the Executive for retiree benefits pursuant to such plans, practices, programs and policies, the Executive shall be considered to have remained employed until two and one-half
years after the Date of Termination and to have retired on the last day of such period except to the extent the providing of such service credit would cause a benefit to be discriminatory or violate a qualification rule under Internal Revenue Code
Section 79 or 105(h) or other applicable Code rule; 
 (iii) the Company shall, on the first day of the eighth month
following the Date of Termination reimburse the Executive for outplacement services received by the Executive during the first six (6) months after the date of termination, the scope and provider of which shall be selected by the Executive in
his sole discretion; and 
 (iv) to the extent not theretofore paid or provided, the Company shall timely pay or provide to
the Executive any other amounts or benefits required to be paid or provided or which the Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company and its affiliated companies (such other
amounts and benefits shall be hereinafter referred to as the “Other Benefits”) and such payments shall be provided at such times and in such amounts as called for by the terms of such Other Benefits arrangements. 
 (b) Death. If the Executive’s employment is terminated by reason of the Executive’s death during the Employment Period, this Agreement
shall terminate without further obligations to the Executive’s legal representatives under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to
the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination. With respect to the provision of Other Benefits, the term Other Benefits as utilized in this Section 6(b) shall include,
without limitation, and the Executive’s estate and/or beneficiaries shall be entitled to receive, benefits at least equal to the most favorable benefits provided by the Company and affiliated companies to the estates and beneficiaries of peer
executives of the Company and such affiliated companies under such plans, programs, practices and policies relating to death benefits, if any, as in effect with respect to other peer executives and their beneficiaries at any time during the 120-day
period immediately preceding the Effective Date or, if more favorable to the Executive’s estate and/or the Executive’s beneficiaries, as in effect on the date of the Executive’s death with respect to other peer executives of the
Company and its affiliated companies and their beneficiaries. 
  

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 (c) Disability. If the Executive’s employment is terminated by reason of the Executive’s
Disability during the Employment Period, this Agreement shall terminate without further obligations to the Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. The Accrued Obligations shall
be paid to Executive at the same times as specified in Section 6(a)(i)(A)(B) and (C). With respect to the provision of Other Benefits, the term Other Benefits as utilized in this Section 6(c) shall include, and the Executive shall be
entitled after the Disability Effective Date to receive, disability and other benefits at least equal to the most favorable of those generally provided by the Company and its affiliated companies to disabled executives and/or their families in
accordance with such plans, programs, practices and policies relating to disability, if any, as in effect generally with respect to other peer executives and their families at any time during the 120-day period immediately preceding the Effective
Date or, if more favorable to the Executive and/or the Executive’s family, as in effect at any time thereafter generally with respect to other peer executives of the Company and its affiliated companies and their families. 
 (d) Cause; Other than for Good Reason. If the Executive’s employment shall be terminated for Cause during the Employment Period, this
Agreement shall terminate without further obligations to the Executive other than the obligation to, within 30 days of the Date of Termination, pay to the Executive his Annual Base Salary through the Date of Termination. Also, Executive shall also
be paid the amount of any compensation previously deferred by the Executive under any other plan or arrangement at such times and in such amounts provided therein, and Other Benefits, to the extent theretofore unpaid and such payments of Other
Benefits shall be provided at such times and in such amounts as called for by the terms of such Other Benefits arrangements. If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason,
this Agreement shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits to be provided at such times and in such amounts as called for by the terms of such
Other Benefits arrangements. In such case, the Accrued Obligations shall be paid to Executive at the same times as specified in Section 6(a)(i)(A)(B) and (C). 
 (e) Limitations. Notwithstanding any other provision of this Section 6 to the contrary, to the extent any benefits provided pursuant to Section 6(a)(ii) and (iv) or Other Benefits pursuant to
Section 6(c) during the first six (6) months after Executive’s Date of Termination are not paid pursuant to a qualified plan, a bona fide sick leave or vacation plan, a disability plan, a death benefit plan or a plan providing medical
expense reimbursements which are non-taxable or a separation pay plan (within the meaning of regulations under Code Section 409(A)), Executive shall pay the cost of such coverage during the first six (6) months following Executive’s
Date of Termination and shall be reimbursed by the Company for the cost of such coverage on the first day of the seventh month after Executive’s Date of Termination. Notwithstanding any other provision of this Section 6 to the contrary,
including the preceding sentence, if the provision of medical benefits coverage called for herein would be discriminatory within the meaning of Section 105(h) of the Internal Revenue Code, then, to the extent necessary to prevent such
discrimination, Executive (or his survivors, as the case may be) shall pay the cost of all such coverage and neither Executive nor his survivors, as the case may be, shall be reimbursed by the Company for doing so. 
 7. Non-exclusivity of Rights. Nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation in any
plan, program, policy or practice provided by the Company or any of its affiliated companies and for which the 

  

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Executive may qualify, nor shall anything herein limit or otherwise affect such rights as the Executive may have under any contract or agreement with the
Company or any of its affiliated companies. Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with the Company or any of its
affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this Agreement. 
 8. Full Settlement. The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others. In no event shall the Executive be obligated to seek other employment or
take any 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. The Company agrees to pay
as incurred, to the full extent permitted by law, all legal fees and expenses which the Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Executive or others of the validity or
enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case
interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”). 
 9. Certain Additional Payments by the Company. 
 (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the Company to or for the benefit of the Executive (whether paid or payable or
distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 9) (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), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
imposed upon the Payments. 
 (b) Subject to the provisions of Section 9(c), all determinations required to be made under this
Section 9, 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 PricewaterhouseCoopers LLP or such other
certified public accounting firm as may be designated by the Executive (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the receipt of notice from
the Executive to the Company that there has been a Payment (which notice must be provided by March 1 of the year following the year in which the Payment is made), or such earlier time as is requested by the Company. In the event that the
Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change of Control, the Executive shall appoint another nationally recognized accounting firm to make the 

  

 12 

 
determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees and expenses of the Accounting
Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 9, shall be paid by the Company to the Executive within five days of the receipt of the Accounting Firm’s determination. If the
Accounting Firm determines that no Excise Tax is payable by the Executive, it shall furnish the Executive with a written opinion that failure to report the Excise Tax on the Executive’s applicable federal income tax return would not result in
the imposition of a negligence or similar penalty. Any determination by the Accounting Firm shall be binding 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
initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”), consistent with the calculations required to be made
hereunder. In the event that the Company exhausts its remedies pursuant to Section 9(c) and the Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has
occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. To comply with Internal Revenue Code Section 409A, any payment of an Underpayment by the Company or payment of expenses by the
Company under paragraph (c) below shall in any event be made by the end of the Executive’s taxable year following the Executive’s taxable year in which the taxes that are the subject of the audit or litigation are remitted to the
taxing authority, or where as a result of such audit or litigation no taxes are remitted, the end of the Executive’s taxable year following the Executive’s taxable year in which the audit is completed or there is a final and nonappealable
settlement or other resolution of the litigation. 
 (c) The Executive shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after the Executive is informed in writing of such
claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which the Executive
gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that it desires to
contest such claim, the Executive shall: 
 (i) give the Company any information reasonably requested by the Company relating
to such claim, 
 (ii) take such action in connection with contesting such claim as the Company shall reasonably request in
writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 
 (iii) cooperate with the Company in good faith in order effectively to contest such claim, and 
 (iv) permit the Company to participate in any proceedings relating to such claim; 
 provided, however, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such
contest and 

  

 13 

 
shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect
thereto) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 9(c), the Company shall control all proceedings taken in connection with such contest and, at
its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Executive to pay the tax claimed and sue
for a refund or contest the claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the
Company shall determine; provided, however, that if the Company directs the Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to the Executive, on an interest-free basis and shall indemnify and
hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; and
further provided that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount.
Furthermore, the Company’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or contest, as the case may be, any other issue
raised by the Internal Revenue Service or any other taxing authority. 
 (d) If, after the receipt by the Executive of an amount advanced by
the Company pursuant to Section 9(c), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s complying with the requirements of Section 9(c)) promptly pay to the
Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to Section 9(c), a determination is
made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such
determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
 10. Confidential Information. The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential
information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive’s employment by the Company or any of its
affiliated companies and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement). After termination of the Executive’s employment with the Company,
the Executive shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated
by it. In no event shall an asserted violation of the provisions of this Section 10 constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this Agreement. 
 11. Successors. (a) This Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable
by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 
  

 14 

 (b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and
assigns. 
 (c) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all
or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken
place. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise.

 12. Miscellaneous. (a) This Agreement shall be governed by and construed in accordance with the laws of the State of
Wisconsin, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written
agreement executed by the parties hereto or their respective successors and legal representatives. 
 (b) All notices and other
communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	If to the Executive:
	
	If to the Company:
	
	Briggs & Stratton Corporation
	12301 West Wirth Street
	Wauwatosa, Wisconsin 53222
		
	Attention:	 	General Counsel

 or to such other address as either party shall have furnished to the other in writing in accordance herewith.
Notice and communications shall be effective when actually received by the addressee. 
 (c) The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
 (d) The Company may
withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
  

 15 

 (e) The Executive’s or the Company’s failure to insist upon strict compliance with any
provision hereof or any other provision of this Agreement or the failure 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 pursuant
to Section 5(c)(i)-(v) of this Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 
 (f) The Executive and the Company acknowledge that, except as may otherwise be provided under any other written agreement between the Executive and the Company, the employment of the Executive by the Company is
“at will” and, prior to the Effective Date, the Executive’s employment and this Agreement may be terminated by either the Executive or the Company at any time prior to the Effective Date, in which case the Executive shall have no
further rights under this Agreement. From and after the Effective Date this Agreement shall supersede any other agreement between the parties with respect to the subject matter hereof. 
 (g) In order to facilitate compliance with section 409A of the Internal Revenue Code, the Company and the Executive shall neither accelerate nor defer or
otherwise change the time at which any payment due hereunder is to be made and no Date of Termination shall be deemed to have occurred until the date the Executive is considered to have had a Separation from Service within the meaning of Code
Section 409A. 
 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the authorization from
its Board of Directors, the Company has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 
  

			
	  

	[Executive]
	
	BRIGGS & STRATTON CORPORATION
		
	By:	 	  

  

 16Amended and Restated Supplemental Executive Retirement Plan

 Exhibit 10.2 
 BRIGGS & STRATTON CORPORATION 
 Form 10-Q for Quarterly Period Ended September 30, 2007

 AMENDED AND RESTATED SUPPLEMENTAL 
 EXECUTIVE RETIREMENT PLAN 
 Effective January 1, 2008 

 BRIGGS & STRATTON CORPORATION 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 Amended and Restated Effective as of January 1, 2008 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	 Page

	PREAMBLE	 		  	1
			
	ARTICLE I	 	GENERAL	  	2
			
		 	1.1        Code	  	2
		 	1.2        Committee	  	2
		 	1.3        Deferred Compensation Plan	  	2
		 	1.4        Disability	  	2
		 	1.5        Employer	  	2
		 	1.6        Plan	  	2
		 	1.7        Pension Plan	  	2
		 	1.8        Separation from Service	  	2
		 	1.9        Service	  	4
			
	ARTICLE II	 	ELIGIBILITY	  	5
			
		 	2.1        Persons Eligible As Participants Under The Plan	  	5
			
	ARTICLE III	 	RETIREMENT BENEFITS	  	6
			
		 	3.1        Time of Commencement and Amount	  	6
		 	3.2        Manner of Payment	  	8
		 	3.3        Pre-retirement Spousal Survivor Annuity	  	8
		 	3.4        Pre-retirement Death Benefit	  	9
		 	3.5        Six Month Delay in Benefit Commencement	  	9
		 	3.6        Interpretation	  	10
		 	3.7        Delayed Distribution	  	10
		 	3.8        Inclusion in Income Under Section 409A	  	11
		 	3.9        Domestic Relations Order	  	11
		 	3.10      De Minimis Amounts	  	11
			
	ARTICLE IV	 	AMENDMENT AND TERMINATION	  	13
			
		 	4.1        Amendment and Termination	  	13
			
	ARTICLE V	 	ADMINISTRATION	  	14
			
		 	5.1        In General	  	14
		 	5.2        Committee Discretion	  	14
		 	5.3        Committee Members’ Conflict of Interest	  	14

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	 Page

		 	5.4        Governing Law	  	14
		 	5.5        Expenses	  	14
		 	5.6        Minor or Incompetent Payees	  	15
		 	5.7        Withholding	  	15
		 	5.8        Indemnification	  	15
			
	ARTICLE VI	 	BENEFITS UNFUNDED	  	16
			
		 	6.1        Unsecured Claim	  	16
		 	6.2        Grantor Trust Only	  	16
			
	ARTICLE VII	 	NONALIENATION OF BENEFITS	  	17
			
	ARTICLE VIII	 	CLAIMS PROCEDURE	  	18
			
		 	8.1        Claims	  	18
		 	8.2        Timing of Notification of Claim Determination	  	18
		 	8.3        Manner and Content of Notification of Claim Determination	  	18
		 	8.4        Appeal Procedure	  	18
		 	8.5        Timing of Notification of Claim Determination on Appeal	  	19
		 	8.6        Manner and Content of Notification of Claim Determination on Appeal	  	19
		 	8.7        Disability Claims	  	19
			
	ARTICLE IX	 	MISCELLANEOUS	  	20
			
		 	9.1        No Right to Continued Employment	  	20
		 	9.2        Impact on Other Plans	  	20
		 	9.3        Severability	  	20
		 	9.4        Gender and Number	  	20
		 	9.5        Evidence Conclusive	  	20
		 	9.6        Status of Plan Under ERISA	  	20
		 	9.7        Name and Address Changes	  	20
		 	9.8        Limitations on Provisions	  	21
		 	9.9        Identity of Payee	  	21

  

 ii 

 PREAMBLE 
 For periods prior to calendar year 2005, Briggs & Stratton Corporation has maintained the Briggs & Stratton Supplemental Executive Retirement Plan. 
 Amounts accrued prior to January 1, 2005 (which were all fully vested under Plan terms), shall remain subject to the terms of the Plan as previously
in effect (the “Frozen Plan”) but no amounts have accrued under the Frozen Plan after 2004. All accruals for periods on or after January 1, 2005 shall be governed by the terms and provisions of this document. Nothing in this document
shall apply to amounts accrued prior to 2005. This document is intended to comply with the provisions of Section 409A of the Internal Revenue Code and shall be interpreted accordingly. If any provision or term of this document would be
prohibited by or inconsistent with the requirements of Section 409A of the Code, then such provision or term shall be deemed to be reformed to comply with Section 409A of the Code. This document describes how this Plan shall be
administered for periods after 2007. From January 1, 2005 through December 31, 2007, it has been administered in good faith compliance with Code Section 409A. 
  

 1 

 ARTICLE I 
 General 
 1.1 Code. The term “Code” means the Internal Revenue Code of 1986,
including any subsequent amendments. 
 1.2 Committee. The term “Committee” means the Compensation Committee of the Board of
Directors of the Employer. Such Committee shall be the Plan Administrator of this Plan for purposes of the Employee Retirement Income Security Act of 1974. 
 1.3 Deferred Compensation Plan. The term “Deferred Compensation Plan” means the Briggs & Stratton Corporation Key Employees Savings and Investment Plan and any and all other deferred
compensation arrangements between the Participant and the Employer. 
 1.4 Disability. A Participant shall be considered to have a
“Disability” if the Participant meets one of the following requirements: 
 (a) The Participant is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months; or 
 (b) The Participant is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected
to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Employer. 
 1.5 Employer. The term “Employer” means Briggs & Stratton Corporation. 
 1.6 Plan. The term “Plan” means the Briggs & Stratton Corporation Supplemental Executive Retirement Plan as set forth in this
document and all subsequent amendments hereto. 
 1.7 Pension Plan. The term “Pension Plan” means the Briggs &
Stratton Retirement Plan as amended from time to time. 
 1.8 Separation from Service. The term “Separation from Service”
shall have the meaning set forth in IRS Regulation Section 1.409A-1 the requirements of which are summarized in part as follows: 
 (a)
In General. The Participant shall have a Separation from Service with the Employer if the Participant dies, retires, or otherwise has a termination of employment with the Employer. However, for purposes of this Section 1.8, the
employment relationship is treated as continuing intact while the individual is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months, or if longer, so long as the individual
retains a right to reemployment with the Employer under an applicable statute or by contract. For purposes of this paragraph (a) of this Section 1.8, a leave of absence constitutes a bona fide leave of absence only if there is a reasonable
expectation that the Participant will return 

  

 2 

 
to perform services for the Employer. If the period of leave exceeds six months and the individual does not retain a right to reemployment under an
applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period. Notwithstanding the foregoing, where a leave of absence is due to any medically determinable
physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, where such impairment causes the Participant to be unable to perform the duties of his or her
position of employment or any substantially similar position of employment, a 29-month period of absence may be substituted for such six-month period. 
 (b) Termination of Employment. Whether a termination of employment has occurred is determined based on whether the facts and circumstances indicate that the Employer and Participant reasonably anticipated that
no further services would be performed after a certain date or that the level of bona fide services the Participant would perform after such date (whether as an employee or as an independent contractor) would permanently decrease to no more than 20
percent of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or, the full period of services to the Employer if the Participant has been providing
services to the Employer less than 36 months). Facts and circumstances to be considered in making this determination include, but are not limited to, whether the Participant continues to be treated as an employee for other purposes (such as
continuation of salary and participation in employee benefit programs), whether similarly situated service providers have been treated consistently, and whether the Participant is permitted, and realistically available, to perform services for other
service recipients in the same line of business. The Participant is presumed to have Separated from Service where the level of bona fide services performed decreases to a level equal to 20 percent or less of the average level of services performed
by the employee during the immediately preceding 36-month period. The Participant will be presumed not to have Separated from Service where the level of bona fide services performed continues at a level that is 50 percent or more of the average
level of service performed by the Participant during the immediately preceding 36-month period. No presumption applies to a decrease in the level of bona fide services performed to a level that is more than 20 percent and less than 50 percent of the
average level of bona fide services performed during the immediately preceding 36-month period. The presumption is rebuttable by demonstrating that the Employer and the Participant reasonably anticipated that as of a certain date the level of bona
fide services would be reduced permanently to a level less than or equal to 20 percent of the average level of bona fide services provided during the immediately preceding 36-month period or the full period of services to the Employer if the
Participant has been providing services to the Employer less than 36 months (or that the level of bona fide services would not be so reduced). For example, the Participant may demonstrate that the Employer and the Participant reasonably anticipated
that the Participant would cease providing services, but that, after the original cessation of services, business circumstances such as termination of the Participant’s replacement caused the Participant to return to employment. Although the
Participant’s return to employment may cause the Participant to be presumed to have continued in employment because the Participant is providing services at a rate equal to the rate at which the Participant was providing services before the
termination of employment, the facts and circumstances in this case would demonstrate that at the time the Participant originally ceased to provide services, the Employer reasonably anticipated that the Participant would not provide services in the
future. For purposes of this paragraph (b), for periods during which the 

  

 3 

 
Participant is on a paid bona fide leave of absence (as defined in paragraph (a) of this Section 1.8) and has not otherwise terminated employment
pursuant to paragraph (a) of this Section 1.8, the Participant is treated as providing bona fide services at a level equal to the level of services that the Participant would have been required to perform to receive the compensation paid
with respect to such leave of absence. Periods during which the Participant is on an unpaid bona fide leave of absence (as defined in paragraph (a) of this Section 1.8) and has not otherwise terminated employment pursuant to paragraph
(a) of this Section 1.8, are disregarded for purposes of this paragraph (b) of this Section 1.8 (including for purposes of determining the applicable 36-month (or shorter) period). 
 (c) Asset Purchase Transactions. Where as part of a sale or other disposition of assets by the Employer as seller to an unrelated service
recipient (buyer), a Participant of the Employer would otherwise experience a Separation from Service with the Employer, the Employer and the buyer may retain the discretion to specify, and may specify, whether a Participant providing services to
the Employer immediately before the asset purchase transaction and providing services to the buyer after and in connection with the asset purchase transaction has experienced a Separation from Service, provided that the asset purchase transaction
results from bona fide, arm’s length negotiations, all service providers providing services to the Employer immediately before the asset purchase transaction and providing services to the buyer after and in connection with the asset purchase
transaction are treated consistently (regardless of position at the Employer) for purposes of applying the provisions of any nonqualified deferred compensation plan, and such treatment is specified in writing no later than the closing date of the
asset purchase transaction. For purposes of this paragraph (c), references to a sale or other disposition of assets, or an asset purchase transaction, refer only to a transfer of substantial assets, such as a plant or division or substantially all
the assets of a trade or business. 
 (d) Dual Status. If a Participant provides services both as an employee of the Employer and as
an independent contractor of the Employer, the Participant must separate from service both as an employee and as an independent contractor to be treated as having Separated from Service. If a Participant ceases providing services as an independent
contractor and begins providing services as an employee, or ceases providing services as an employee and begins providing services as an independent contractor, the Participant will not be considered to have a Separation from Service until the
Participant has ceased providing services in both capacities. Notwithstanding the foregoing, if a Participant provides services both as an employee of the Employer and a member of the board of directors of the Employer, the services provided as a
director are not taken into account in determining whether the Participant has a Separation from Service as an employee for purposes of this Plan unless this Plan is aggregated with any plan in which the Participant participates as a director under
IRS Regulation Section 1.409A-1(c)(2)(ii). 
 1.9 Service. The terms “Service” and “Credited Service” have
the same meaning as defined in Sections 3.02 and 3.03, respectively, of Part B of the Pension Plan. 
  

 4 

 ARTICLE II 
 Eligibility 
 2.1 Persons Eligible As Participants Under The Plan. Each corporate officer who
is a Participant in the Pension Plan shall be a Participant in this Plan. However, the Plan does not cover any person who had a Separation from Service prior to January 1, 2005. Nor does it cover any person not eligible to accrue benefits under
the Pension Plan after 2007. 
 Each Participant in this Plan who has a Separation from Service on or after January 1, 2008 shall
receive benefits based upon the provisions of this Plan as in effect at the time of such Participant’s Separation from Service. 
  

 5 

 ARTICLE III 
 Retirement Benefits 
 3.1 Time of Commencement and Amount. 
 (a) Normal or Late Retirement. In the case of a Participant who has a Separation from
Service for a reason other than Disability on or after his 65th birthday, his pension benefit hereunder shall commence on the first day of the month next
following the date of his Separation from Service. 
 (b) Early
Retirement. In the case of a Participant who has a Separation from Service for a reason other than Disability prior to his 65th birthday but on or
after his 55th birthday and after completing at least 10 but less than 30 years of Service, his pension benefit hereunder shall commence on the first day
of the month following the later of (A) the date of his Separation from Service or (B) his 62nd birthday or, if earlier, the date he would have
completed 30 years of Service. 
 (c) Special Early
Retirement. In the case of a Participant who has a Separation from Service for a reason other than Disability prior to his 65th birthday but after
completing 30 years of Service, his pension benefit hereunder shall commence on the first day of the month following his Separation from Service. 
 (d) Disability. 
 (1) If a Participant incurs
a Disability, such Participant shall, subject to subparagraph 2(B) below, continue to earn Service and Credited Service (for purposes of determining eligibility for and calculation of his pension benefit hereunder as though Section 4.04(b)(5)
of Part B of the Pension Plan did not exist) until the earlier of (i) the first of the month after his 65th birthday or (ii) the
Participant’s date of death; provided, however, that for an individual with less than 5 years of Service at the time disability commences, the maximum amount of Service and Credited Service earned during the period of disability shall not
exceed the amount of Service and Credited Service the individual had at the commencement of Disability. 
 (2) (A) A Participant
described in subparagraph (1) above shall receive a Pension, commencing as of the first day of the month following the Participant’s 65th birthday, calculated in the same manner as a pension payable under Section 3.1(a) commencing on
that same date based on service credited under this Section 3.1(d). The Disability Pension shall be in lieu of any other benefit under this Plan. 
 (B) If an individual ceases to have a Disability prior to his 65th birthday and if the individual returns to employment with the Employer, such individual shall upon subsequent Separation from Service with the Employer have his pension under
subparagraph (2)(A) above based on his total period of Service and Credited Service (including Service and Credited Service earned prior to the date the Disability ended and earned subsequent to reemployment). If the individual ceases to have a
Disability and does not return to employment with the Employer, then the individual shall have his pension calculated under subparagraph (2)(A) above based on Service and Credited Service earned to the date the Disability ended.

  

 6 

 (e) Amount. In the case of a pension payable under Section 3.1(a), (b), (c), or (d), the
amount of monthly pension payable as a single life pension shall be (i) the amount of monthly pension which would have been payable to him under the Pension Plan as a single life monthly pension assuming commencement of his benefits on the same
date if the provisions of Internal Revenue Code Sections 401(a)(17) and 415 did not exist, if he had made no deferrals under the Deferred Compensation Plan, if the benefit formula under Part B of the Pension Plan contained a multiplier of 2.1%
(rather than 1.6%) and if the last paragraph of Section 6.03 of Part B of the Pension Plan did not exist minus (ii) the amount of pension expressed as a single life monthly pension, actually payable to him under the Pension Plan assuming
his benefits commence on the same date and the last paragraph of Section 6.03 of Part B of the Pension Plan did not exist. 
 (f)
Separation Prior to Retirement. 
 (1) In the case of a Participant who has a
Separation from Service for a reason other than Disability prior to his 65th birthday and prior to completing 10 years of Service, his pension benefit
hereunder shall commence on the first day of the month next following the date he attains age 65. 
 (2) In the case of a Participant who has a Separation from Service for a reason other than Disability prior to his 55th
birthday after completing at least 10 but less than 30 years of Service, his pension benefit hereunder shall commence the first day of the month next following his 55th birthday. 
 (3) If benefits become payable under paragraphs (f)(1) or (f)(2), the amount of
such monthly pension payable as a single life pension shall be (i) the amount of monthly pension which would have been payable to him under the Pension Plan as a single life monthly pension based on his Separation from Service on the same date
and assuming commencement of benefits on the same date if the provisions of Internal Revenue Code Sections 401(a)(17) and 415 did not exist, if he had made no deferrals under the Deferred Compensation Plan, if the benefit formula under Part B of the
Pension Plan contained a multiplier of 2.1% (rather than 1.6%), if the Pension Plan did not require completion of 5 years of Service to be eligible for a benefit (ii) the amount of pension, expressed as a single life monthly pension, actually
payable to him under the Pension Plan based on his Separation from Service on the same date and assuming benefits under the Pension Plan commence on the same date (or, in the case of a Participant with less than 5 years of Service, the amount which
would have been payable under the Pension Plan if it had not required completion of 5 years of Service by the Participant in order for a pension to be payable). 
 (g) Survival. No Pension shall be payable under this Section 3.1 if the Participant dies prior to the pension commencement date applicable to him under this Section 3.1. 
  

 7 

 3.2 Manner of Payment. If the Participant is unmarried at the time his pension benefit commences,
his pension benefit shall be payable to him in the form of a single life monthly pension. If the Participant is married at the time his pension benefit commences, instead of receiving a single life monthly pension he shall receive a Joint and
Survivor Pension. The Joint and Survivor Pension shall be a reduced monthly pension payable to the Participant for his life with a continuing pension payable after his death to his surviving spouse for her life in an amount equal to 50% of the
reduced benefit payable during the life of the Participant. Such Joint and Survivor Pension shall be the actuarial equivalent of the single life monthly pension which would be payable to the Participant if he were unmarried. If so elected by the
Participant, the Plan shall pay the benefit of a Participant for which the Participant is eligible in the form of a single life monthly pension or in one of the optional forms of annuity (with payments continuing to a designated beneficiary) payable
under Section 6.05 of Part B of the Pension Plan which is the actuarial equivalent of the single life monthly pension otherwise payable to the Participant hereunder. Actuarially equivalent benefits shall be determined under the factors set
forth for determining actuarial equivalency in the first paragraph of Section 2.3(k) of Part B of the Pension Plan. 
 3.3
Pre-retirement Spousal Survivor Annuity. 
 (a) If any married Participant (including a “former participant”, i.e., a
participant who has had a Separation from Service) who has not while employed (or while accruing service under Section 3.1(d)) met the age and service requirements to begin receiving a pension under Section 3.1(a), (b) or
(c) dies before starting to receive payments hereunder, then his surviving spouse, if any, shall be entitled to a monthly benefit for life. 
 (b) Provided that the surviving spouse survives to such commencement date, payment of such benefit
will commence on (i) the first day of the month following the Participant’s or former Participant’s date of death or, if later, 55th
birthday or (ii) in the case of a Participant or former Participant who had not completed at least 10 years of Service, the first day of the month following the 65th birthday of the Participant or former Participant. 
 (c) The amount of such monthly benefit for life shall be an amount equal to (i) what such spouse would have received as a survivor annuity under the Pension Plan, based on the Participant’s Service and the
benefit formula in effect under the Pension Plan on the date of his death or, if earlier, the date he ceased earning Service and Credited Service hereunder, if the Participant had survived to and commenced to receive his pension on the later of his
55th birthday (65th birthday if the Participant had not
completed at least 10 years of Service) or date of death in the Joint and Survivor Pension form, as described in Section 3.2, and died on the next day if the provisions of Internal Revenue Code Sections 401(a)(17) and 415 did not exist, if the
Participant had made no deferrals under the Deferred Compensation Plan, if the benefit formula under Part B of the Pension Plan contained a multiplier of 2.1% (rather than 1.6%) and if the Pension Plan did not require completion of 5 years of
Service for this benefit to apply minus (ii) the amount of any survivor annuity, if any, actually payable to the spouse under the Pension Plan based on the Participant’s death on the same date and assuming the survivor annuity commenced on
the same date (or, in the case of a Participant with less than 5 years of Service, the amount which would have been payable under the Pension Plan if it had not required completion of 5 years of Service by the Participant in order for the survivor
annuity to be payable). 
  

 8 

 (d) In addition to the payments otherwise due
under paragraphs (a), (b) and (c), if the Participant had completed at least 10 years of Service and dies prior to what would have been the Participant’s 55th birthday, then until the Participant’s 55th birthday the Participant’s spouse shall be entitled to receive a
monthly amount of benefit which shall be computed as described under paragraph (c) above as though the Participant’s 55th birthday coincided with
the date of the Participant’s death and the offset described in clause (ii) of paragraph (c) above did not exist. 
 3.4 Pre-retirement Death Benefit. 
 (a) If any Participant (including any former Participant) who has
while employed (or while accruing service under Section 3.1(d)) met the age and service requirements for a pension under Section 3.1(a), (b) or (c) (taking into account service credited under Section 3.1(d)) dies before
starting to receive payments hereunder, then his surviving beneficiary, if any, shall be entitled to a survivor benefit. 
 (b) Payment of
such benefit will commence on the first day of the month following the Participant’s or former Participant’s date of death. 
 (c)
The amount of such survivor benefit shall be an amount equal to (i) what such beneficiary would have received as a survivor benefit under the Pension Plan if the Participant had commenced to receive benefits the day before his death under
whichever of Section 3.1(a), (b) or (c) would have been applicable calculated on the assumption that the provisions of Internal Revenue Code Sections 401(a)(17) and 415 did not exist, the Participant had made no deferrals under the
Deferred Compensation Plan, the benefit formula under Part B of the Pension Plan contained a multiplier of 2.1% (rather than 1.6%) and that the last paragraph of Section 6.03 of Part B of the Pension Plan did not exist minus (ii) the
amount of survivor benefit, if any, actually payable to the beneficiary under the Pension Plan based on the Participant’s death on the same date and assuming the survivor benefit commenced in the same form to the same beneficiary on the same
date and the last sentence of Section 6.03 of Part B of the Pension Plan did not exist. 
 (d) The beneficiary shall be the same
beneficiary, if any, as designated by the Participant (or deemed designated by the Participant) under Section 3.2 above and the form of payment shall be the form in effect, if any, pursuant to Section 3.2 above. 
 3.5 Six Month Delay in Benefit Commencement. Notwithstanding any other provision of this Plan to the contrary, payment shall be delayed, if
necessary, so that payment does not commence until the first day of the seventh month following the date of Separation from Service. The payments which would have been made during the period from the commencement date which would be applicable if
this Section 3.5 did not exist until the date payments actually commence pursuant to the rule of this Section 3.5 shall be accumulated and paid in a lump sum on the first day of the seventh month following the date of Separation from
Service or, if earlier, the first day of the month following the Participant’s death. The payments (other than those described in the preceding sentence) which commence on the first day of the seventh month following the Participant’s
Separation from Service or, if earlier, the first day of the month following the date of the Participant’s death shall be in the same amount as if payments had started on the date payments would commence under this Plan if this Section 3.5
did not exist. 
  

 9 

 3.6 Interpretation. 
 (a) With the exception of continued service credit during periods of Disability as described in Section 3.1(d)(1) and the fact that this Plan pays a benefit to an individual who terminates employment or dies
prior to completion of 5 years of Service, it is the intention of the Employer that the benefits provided to the Participant and any beneficiary under this Plan and the Pension Plan together shall be no greater than would have been provided to the
Participant and any beneficiary under the terms of the Pension Plan if the Participant had at all times been covered under the Pension Plan in accordance with its rules had the limitations of Internal Revenue Code Sections 415 and 401(a)(17) not
existed, if the Participant had made no deferrals under the Deferred Compensation Plan, if the formula in effect under Part B of the Pension Plan contained a multiplier of 2.1% rather than 1.6% and if the last paragraph of Section 6.03 of Part
B of the Pension Plan did not exist. In the event that an individual’s pension is increased under the Pension Plan after such individual commences to receive benefits hereunder such increase shall be taken into account and shall reduce the
remaining payments due the individual hereunder. 
 (b) In computing the benefits which would be payable under this Plan in the absence of
the offset for benefits payable under the Pension Plan, Schedule A of Part B of the Pension Plan, the first sentence of the third to last paragraph of Section 2.03(j) of Part B of the Pension Plan, Section 4.04(b)(5) of Part B of the
Pension Plan (to the extent provided in Section 3.1(d)(1)) and the last paragraph of Section 6.03 of Part B of the Pension Plan shall be ignored. However, in computing the amount of offset for amounts payable under the Pension Plan all
amounts payable under the Pension Plan shall be taken into account, including amounts payable under the Pension Plan as a result of Schedule A of Part B of the Pension Plan and the first sentence of the third to last paragraph of
Section 2.03(j) of Part B of the Pension Plan. 
 3.7 Delayed Distribution. 
 (a) A payment otherwise required to be made pursuant to the provisions of this Article III shall be delayed if the Employer reasonably anticipates that
the Employer’s deduction with respect to such payment would be limited or eliminated by application of Code Section 162(m); provided, however that such payment shall be made on the earliest date on which the Employer anticipates that the
deduction of the payment of the amount will not be limited or eliminated by application of Code Section 162(m). In any event, such payment shall be made no later than the last day of the calendar year in which the Participant has a Separation
from Service or, in the case of a Specified Employee, the last day of the calendar year in which occurs the six (6) month anniversary of such Separation from Service. 
 (b) A payment otherwise required under this Article III shall be delayed if the Employer reasonably determines that the making of the payment will
jeopardize the ability of the Employer to continue as a going concern; provided, however, that payments shall be made on the earliest date on which the Employer reasonably determines that the making of the payment will not jeopardize the ability of
the Employer to continue as a going concern. 
  

 10 

 (c) A payment otherwise required under this Article III shall be delayed if the Employer reasonably
anticipates that the making of the payment will violate federal securities laws or other applicable law; provided, however, that payments shall nevertheless be made on the earliest date on which the Employer reasonably anticipates that the making of
the payment will not cause such violation. (The making of a payment that would cause inclusion in gross income or the applicability of any penalty provision or other provision of the Code is not treated as a violation of applicable law.) 

(d) A payment otherwise required under this Article III shall be delayed upon such other events and conditions as the Internal Revenue Service may
prescribe in generally applicable guidance published in the Internal Revenue Bulletin. 
 3.8 Inclusion in Income Under
Section 409A. Notwithstanding any other provision of this Article III, in the event this Plan fails to satisfy the requirements of Code Section 409A and regulations thereunder with respect to any Participant, there shall be distributed
to such Participant as promptly as possible after the Administrator becomes aware of such fact of noncompliance such amount as is included in income as a result of the failure to comply, but no more and the Participant’s interest in the Plan
shall be correspondingly reduced based on the actuarial factors described in Section 3.2. 
 3.9 Domestic Relations Order.
Notwithstanding any other provision of this Article III, payments shall be made from the interest of a Participant in this Plan to such individual or individuals (other than the Participant) and at such times as are necessary to comply with a
domestic relations order (as defined in Code Section 414(p)(1)(B)) and the Participant’s interest in the Plan shall be correspondingly reduced based on the actuarial factors described in Section 3.2. 
 3.10 De Minimis Amounts. Notwithstanding any other provision this Article III, the
actuarially equivalent present value (calculated using actuarial factors specified in Section 3.2) of the Participant’s accrued benefit in this Plan and all other nonqualified deferred compensation plans of the defined benefit type
sponsored by the Employer and its affiliates shall automatically be distributed to the Participant on or before the later of December 31 of the calendar year in which occurs the Participant’s Separation from Service or the 15th day of the third month following the Participant’s Separation from Service if the total amount at the time of distribution, when aggregated with all
other amounts payable to the Participant under all arrangements benefiting the Participant described in Section 1.409A-1(c) or any successor thereto, do not exceed the amount described in Code Section 402(g)(1)(B). The foregoing lump sum
payment shall be made automatically and any other distribution elections otherwise applicable with respect to the individual in the absence of this provision shall not apply. 
 3.11 Special Enhancement. The amount payable hereunder to the individual who is the Company’s Chief Executive Officer on July 1, 2003
(the “CEO”) shall be calculated on the assumption that he has more years of Service and Credited Service than he actually has. The number of such additional years of Service and Credited Service shall be based on his Date of Termination of
employment as CEO as set forth in the following schedule: 
  

 11 

			
	 Employment Termination Date
	  	Additional Years of Service
and Credited Service
	 On or after July 1, 2007, but before July 1, 2008
	  	1
	 On or after July 1, 2008, but before July 1, 2009
	  	2
	 On or after July 1, 2009, but before July 1, 2010
	  	3
	 On or after July 1, 2010, but before July 1, 2011
	  	4
	 On or after July 1, 2011
	  	5

 The previous sentence shall not be applicable and, instead, the amounts payable to the CEO hereunder shall be
calculated on the assumption that he has five additional years of Service and Credited Service should the CEO die or incur a disability prior to July 1, 2011 while in the employ of the Company as CEO. For purposes of this section,
“disability” shall mean a physical or mental condition which prevents the CEO from being able to carry out his duties as CEO of the Company and which condition is expected to continue indefinitely. The existence of a disability for
purposes of this section shall be determined by the Company’s Board of Directors in its absolute discretion. 
  

 12 

 ARTICLE IV 
 Amendment and Termination 
 4.1 Amendment and Termination. Briggs & Stratton
Corporation may amend or terminate this Plan at any time through action of its Board of Directors. If the Plan is terminated no further benefits shall accrue hereunder. However, unless necessary to conform to any present or future federal or state
law or regulation, amendment or termination may not result in a reduction of benefits of a Participant (or his surviving spouse) who is already receiving benefits, nor may amendment or termination result in a Participant who is still in active
service (or his surviving spouse) receiving a benefit hereunder smaller than that to which he would have been entitled had the Participant terminated employment on the day prior to the effective date of such amendment or termination. 
 If the Employer terminates the Plan and if the termination is of the type described in regulations issued by the Internal Revenue Service pursuant to
Code Section 409A, then the Employer shall pay the actuarial equivalent of all accrued benefits hereunder to Participants (and beneficiaries of deceased Participants) in a lump sum within the time period specified in such regulations and,
following such distribution, there shall be no further obligation to any Participant (or beneficiary) under this Plan. (Actuarial equivalence shall be determined as described in Section 3.2.) However, if the termination is not of the type
described in such regulations, then following Plan termination Participants’ (and beneficiaries’) benefits shall be paid at such time and in such form as provided under Article III of the Plan. 
  

 13 

 ARTICLE V 
 Administration 
 5.1 In General. The Committee has such powers as may be necessary to direct
the general administration of the Plan, including the powers given to it elsewhere in this document and including (but not by way of limitation) the following powers: 
  

	 	(a)	to construe and interpret the Plan and to make equitable adjustments for any mistakes or errors made in the administration thereof; 

  

	 	(b)	to prescribe such procedures, rules and regulations as it shall deem necessary or proper for the efficient administration of the Plan or any of its duties hereunder;

  

	 	(c)	to decide questions of eligibility and determine the amount, manner and time of payment of any benefits and to direct the payment of the same by the Employer;

  

	 	(d)	to prescribe the form and manner of application for any benefits hereunder and forms to be used in the general administration hereof; and 

  

	 	(e)	to receive from the Employer and Participants or their beneficiaries such information as shall be necessary for the proper administration of the Plan. 

 5.2 Committee Discretion. The Committee has full and complete discretionary authority to determine eligibility for benefits, to construe the terms
of the Plan and to decide any matter presented through the claims review procedure. Any final determination by the Committee shall be binding on all parties and afforded the maximum deference allowed by law. If challenged in court, such
determination shall not be subject to de novo review and shall not be overturned unless proven to be arbitrary and capricious upon the evidence considered by the Committee at the time of such determination. 
 5.3 Committee Members’ Conflict of Interest. A member of the Committee who is covered hereunder may not vote or decide upon any matter
relating solely to himself or vote in any case in which his individual right to any benefit under the Plan is particularly involved nor may a member of the Board who is covered hereunder vote to amend the Plan regarding the timing of distributions
or vote with respect to direct or indirect termination of the Plan. Decisions shall be made by remaining Committee or Board members even if there is no quorum under normal Committee or Board rules. 
 5.4 Governing Law. This Plan shall be construed in accordance with the laws of the State of Wisconsin to the extent not preempted by the
provisions of the Employee Retirement Income Security Act of 1974 or other federal law. 
 5.5 Expenses. All expenses and costs
incurred in connection with the administration and operation of the Plan shall be borne by the Employer and/or the Trust. 
  

 14 

 5.6 Minor or Incompetent Payees. If a person to whom a benefit is payable is a minor or is
otherwise incompetent by reason of a physical or mental disability, the Committee may cause the payments due to such person to be made to another person for the first person’s benefit without any responsibility to see to the application of such
payment. Such payments shall operate as a complete discharge of the obligations to such person under the Plan. 
 5.7 Withholding. To
the extent required by law, the Employer shall withhold any taxes required to be withheld by the federal or any state or local government from payments made hereunder or from other amounts paid to the Participant by the Employer. To the extent that
FICA taxes are required to be withheld from the Participant with respect to amounts credited under this Plan and no amounts are to be paid to the Participant hereunder or otherwise from the Employer from which such FICA taxes may be withheld, then
the Employer shall pay such FICA taxes (and taxes under Code Section 3401 triggered thereby and additional taxes under Section 3401 attributable to pyramiding of Section 3401 wages and taxes) but no more and the Participant’s
benefit hereunder shall be reduced by the actuarial equivalent of the amount paid. Actuarial equivalence shall have the same meaning as in Section 3.2 hereof. 
 5.8 Indemnification. Except as otherwise provided by law, neither the Board or the Committee nor any individual member of the Board or the Committee, nor the Employer, nor any officer, shareholder or employee
of the Employer shall be liable for any error of judgment, action or failure to act hereunder or for any good faith exercise of discretion, excepting only liability for gross negligence or willful misconduct. Such individuals and entities shall be
indemnified and held harmless by the Employer against any and all claims, damages, liabilities, costs and expenses (including attorneys’ fees) arising by reason of any good faith error of omission or commission with respect to any
responsibility, duty or action hereunder. Nothing herein contained shall preclude the Employer from purchasing insurance to cover potential liability of one or more persons who serve in an administrative capacity with respect to the Plan.

  

 15 

 ARTICLE VI 
 Benefits Unfunded 
 6.1 Unsecured Claim. The right of any individual to receive payment under
the provisions of this Plan shall be an unsecured claim against the general assets of the Employer, and no provisions contained in this Plan, nor any action taken pursuant to this Plan, shall be construed to give any individual at any time a
security interest in any asset of the Employer, of any affiliated company, or of the stockholders of the Employer. The liabilities of the Employer to any individual pursuant to this Plan shall be those of a debtor pursuant to such contractual
obligations as are created by this Plan and to the extent any person acquires a right to receive payment from the Employer under this Plan, such right shall be no greater than the right of any unsecured general creditor of the Employer. 

6.2 Grantor Trust Only. Benefits under this Plan are payable solely from the general assets of the Employer. The rights of Participants and
beneficiaries hereunder shall not constitute or be treated as a trust fund of any kind. Title to and beneficial ownership of any assets which the Employer may earmark to pay deferred compensation hereunder shall at all times remain in the Employer
and Participants and beneficiaries hereunder shall have no interest in any specific assets of the Employer by virtue of this Plan. Notwithstanding the foregoing, the Employer intends to finance its obligation hereunder via the Trust Agreement dated
January 31, 1995 between the Employer and Johnson Heritage Trust Company (the “Trust”), which is intended to be a grantor trust, in the event of a Change of Control Event as defined in such Trust. It is the intention of all parties
involved that the arrangements be unfunded for tax purposes and for purposes of Title I of ERISA. The Trust and any assets held by the Trust to assist it in meeting its obligations under the Plan are intended to conform to the terms of the model
trust requirements set forth in Revenue Procedure 92-64 issued by the Internal Revenue Service. 
  

 16 

 ARTICLE VII 
 Nonalienation of Benefits 
 All benefits payable hereunder are for the sole use and benefit of the
Participants and their beneficiaries and, to the extent permitted by law, shall be free, clear and discharged of and from, and are not to be in any way liable for, debts, contracts or agreements, now contracted or which may hereafter be contracted
and from all claims and liabilities now or hereafter incurred by any Participant or beneficiary covered by this Plan. No Participant or beneficiary covered by this Plan shall have the right to anticipate, surrender, encumber, alienate or assign,
whether voluntarily or involuntarily, any of the benefits to become due hereunder unto any person or person upon any terms whatsoever, and any attempt to do so shall be void. 
  

 17 

 ARTICLE VIII 
 Claims Procedure 
 8.1 Claims. If the Participant or the Participant’s beneficiary
(hereinafter referred to as “claimant”) believes he is being denied any benefit to which he is entitled under this Plan for any reason, he may file a written claim with the member of the Committee designated as the claims administrator.
The claimant may designate an authorized representative to act on his behalf in connection with his claim. 
 8.2 Timing of Notification
of Claim Determination. The claims administrator shall review the claim and notify the claimant of its decision with respect to his claim within a reasonable period of time, but not later than 90 days after receipt of the claim by the
claims administrator, unless the claims administrator determines that special circumstances require an extension of time for processing the claim. If the claims administrator determines that an extension of time for processing is required, written
notice of the extension will be furnished to the claimant prior to the termination of the initial 90-day period. In no event will the extension exceed a period of 90 days from the end of the initial 90-day period. The extension notice will indicate
the special circumstances requiring an extension of time and the date by which the claims administrator expects to render the claim determination. 
 8.3 Manner and Content of Notification of Claim Determination. The claims administrator will provide the claimant with written or electronic notification of any adverse claim determination. The notification will set forth:

  

	 	(a)	The specific reason or reasons for the adverse determination; 

  

	 	(b)	Reference to the specific plan provisions on which the determination is based; 

  

	 	(c)	A description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and

  

	 	(d)	A description of the plan’s claim appeal procedures and the time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil
action under Section 502(a) of the Employee Retirement Income Security Act of 1974, as amended, (“ERISA”) following an adverse claim determination on appeal. 

 8.4 Appeal Procedure. A claimant is entitled to request the entire Committee to review any denial by written request to the Committee within 60
days of receipt of the denial. Absent a request for review within the 60-day period, the claim will be deemed to be conclusively denied. In connection with the claimant’s appeal the claimant may submit written comments, documents, records and
other information relating to the claimant’s claim. Upon request the claimant will be provided, free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claimant’s claim for
benefits. The Committee’s decision regarding the claimant’s appeal will take into account all comments, documents, records and other information the claimant submits relating to the claimant’s claim, without regard to whether such
information was submitted or considered in the initial claim determination. 
  

 18 

 8.5 Timing of Notification of Claim Determination on Appeal. The Committee will notify the
claimant of its determination of the claimant’s claim on appeal within a reasonable period of time, but not later than 60 days after receipt of the claimant’s request for review by the Committee unless the Committee determines that special
circumstances require an extension of time for processing the claim. If the Committee determines that an extension of time for processing is required, written notice of the extension will be furnished to the claimant prior to the termination of the
initial 60-day period. In no event will the extension exceed a period of 60 days from the end of the initial 60-day period. The extension notice will indicate the special circumstances requiring an extension of time and the date by which the
Committee expects to render the determination on review. 
 8.6 Manner and Content of Notification of Claim Determination on
Appeal. The Committee will provide the claimant with written or electronic notification of its determination with respect to the claimant’s appeal. In the case of an adverse claim determination on appeal, the notification will set
forth: 
  

	 	(a)	The specific reason or reasons for the adverse determination; 

  

	 	(b)	Reference to the specific plan provisions on which the determination is based; 

  

	 	(c)	A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to
the claimant’s claim for benefits. 

  

	 	(d)	A statement of the claimant’s right to bring an action under section 502(a) of ERISA. 

 8.7 Disability Claims. Notwithstanding any other provision of this Article VIII or any other provision of this Plan to the contrary, the
determination of the existence of a disability for purposes of determining benefits under this Plan shall be made in accordance with the disability determination claims procedures under the Pension Plan by the person or persons responsible for such
determinations under the Pension Plan. 
  

 19 

 ARTICLE IX 
 Miscellaneous 
 9.1 No Right to Continued Employment. Neither participation in this Plan, nor
the payment of any benefit hereunder, shall be construed as giving to the Participant any right to be retained in the service of the Employer, or limiting in any way the right of the Employer to terminate the Participant’s employment at any
time. Nor does the participation in this Plan guarantee the Participant the right to receive any specific amount of compensation or bonus, such amount being determined solely under such applicable compensation or bonus arrangement as established by
the Employer. 
 9.2 Impact on Other Plans. No amounts credited to any Participant under this Plan and no amounts paid from this Plan
will be taken into account as “wages”, “salary”, “base pay” or any other type of compensation when determining the amount of any payment or allocation, or for any other purpose, under any other qualified or nonqualified
pension or profit sharing plan of the Employer or other plan or program of the Employer, except as otherwise may be specifically provided by such plan or program. 
 9.3 Severability. If any provisions of the Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts of the Plan, but this Plan shall be construed
and enforced as if said illegal and invalid provisions had never been included herein. 
 9.4 Gender and Number. Masculine gender
shall include the feminine, and the singular shall include the plural, unless the context clearly indicates otherwise. 
 9.5 Evidence
Conclusive. The Employer, the Committee and any person or persons involved in the administration of the Plan shall be entitled to rely upon any certification, statement, or representation made or evidence furnished by any person with respect to
any facts required to be determined under any of the provisions of the Plan, and shall not be liable on account of the payment of any monies or the doing of any act or failure to act in reliance thereon. Any such certification, statement,
representation, or evidence, upon being duly made or furnished, shall be conclusively binding upon the person furnishing it but not upon the Employer, the Committee or any other person involved in the administration of the Plan. Nothing herein
contained shall be construed to prevent any such parties from contesting any such certification, statement, representation, or evidence or to relieve any person from the duty of submitting satisfactory proof of any fact. 
 9.6 Status of Plan Under ERISA. The Plan is intended to be an unfunded plan maintained by an Employer primarily for the purpose of providing
deferred compensation for a select group of management or highly compensated employees, as described in Section 201(2), Section 301(a)(3), Section 401(a)(1) and Section 4021(b)(6) of the Employee Retirement Income Security Act of
1974, as amended. 
 9.7 Name and Address Changes. Each Participant shall keep his name and address on file with the Employer and
shall promptly notify the Employer of any changes in his name or address. All notices required or contemplated by this Plan shall be deemed to have been given to 

  

 20 

 
a Participant if mailed with adequate postage prepaid thereon addressed to him at his last address on file with the Employer. If any check in payment of a
benefit hereunder (which was mailed to the last address of the payee as shown on the Employer’s records) is returned unclaimed, further payments shall be discontinued unless evidence is furnished that the recipient is still alive. 

9.8 Limitations on Provisions. The provisions of the Plan and any benefits payable hereunder shall be limited as described herein. Any benefit
payable under the Pension Plan shall be paid solely in accordance with the terms and provisions of the Pension Plan, and nothing in the Plan shall operate or be construed in any way to modify, amend, or affect the terms and provisions of the Pension
Plan. 
 9.9 Identity of Payee. If at any time any doubt exists as to the identity of any person entitled to payment of any benefit
hereunder or as to the amount or time of any such payment, such sum shall be held by the Employer until such doubt is cured or the Employer may pay such sum into a court of competent jurisdiction in accordance with any lawful procedure in such case
made and provided. 
  

 21

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