Document:

Ingersoll Rand plc Incentive Stock Plan of 2007

 Exhibit 10.16 
 INGERSOLL-RAND PLC 
 INCENTIVE STOCK PLAN OF 2007 
 Rules for the Grant of Options 
 to Participants in France 
 (as amended and restated effective July 1, 2009) 
  

	1.	Introduction. 

 Effective
July 1, 2009, Ingersoll-Rand plc (the “Company”) has assumed all the rights and obligations of Ingersoll-Rand Company Limited under the Ingersoll-Rand Incentive Stock Plan of 2007 (the “Plan”). The Plan was established by
the Board of Directors of Ingersoll-Rand Company Limited for the benefit of certain employees and directors of the Company and its affiliated companies, including its French affiliates of which the Company holds directly or indirectly at least 10%
of the share capital and its French branches (collectively, the “French Entities”). 
 Sections 4 and 14 of the Plan specifically
authorize the Compensation Committee of the Board of Directors (the “Board”) of the Company (the “Committee”) to administer the Plan and to establish rules relating to the Plan that the Committee deems necessary or desirable for
the administration of the Plan and to amend the terms of the Plan with respect to Participants who reside or work outside the United States of America (including Participants in France) in order to conform such terms to obtain more favorable tax
treatment or other treatment for a Participant, the Company or an affiliate of the Company. The Committee has determined that it is desirable to establish a subplan for the purposes of permitting stock options to qualify for favorable tax and social
security treatment in France. The Committee, therefore, intends to establish a subplan of the Plan for the purpose of granting stock options which qualify for the favorable tax and social security treatment in France applicable to stock options
granted under Sections L. 225-177 to L. 225-186-1 of the French Commercial Code, as amended (“French-qualified Options”), to qualifying Participants who are resident in France for French tax purposes and/or subject to the French social
security regime (the “French Participants”). 
 Effective July 1, 2009, the terms of the Plan, as set out in Appendix 1
hereto, shall, subject to the limitations in the following rules, constitute the Ingersoll-Rand plc Incentive Stock Plan for the Grant of Options to Participants in France (the “French Options Plan”). Under the French Options Plan, the
qualifying French Participants will be granted only Options as defined under Section 2(q) of the Plan and under Section 2 (a) of this French Options Plan. 
 Further, as provided in Section 2 of the Plan, the Committee has delegated to the Company’s Senior Vice President – Human Resources (the “Committee’s Delegate”) authority to take
appropriate action to implement the French Options Plan, including, without limitation, signing the French Options Plan, and to set forth the terms of any French-qualified Options in a stock option award agreement in keeping with the terms of the
French Options Plan. 
  

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	2.	Definitions. 

 Unless otherwise
defined herein, the terms defined in the Plan shall have the same meanings in this French Options Plan. The terms set out below will have the following meanings: 
  

	 	(a)	Closed Period. 

 The term “Closed
Period” as defined under Section L. 225-177 of the French Commercial Code means: 
 (i) ten (10) quotation days preceding and
following the disclosure to the public of the consolidated financial statements or the annual statements of the Company; 
 (ii) the period
as from the date the corporate management of the Company possesses confidential information which could, if disclosed to the public, significantly impact the quotation price of the Shares, until ten (10) quotation days after the day such
information is disclosed to the public; or 
 (iii) any period of twenty (20) quotation days after the date on which Shares start
trading ex-dividend or ex-rights. 
  

	 	(b)	Disability. 

 The term “Disability”
shall mean disability as determined in categories 2 and 3 under Section L. 341-4 of the French Social Security Code, as amended, and subject to the fulfillment of related conditions. 
  

	 	(c)	Effective Grant Date. 

 The term
“Effective Grant Date” shall be the date on which the French-qualified Options are effectively granted (i.e., the date on which the condition precedent of the expiration of a Closed Period applicable to the French-qualified Options,
if any, is satisfied, which is the first day after any Closed Period). Such condition precedent shall be satisfied when the Committee or other authorized corporate body shall determine that the granting of French-qualified Options is no longer
prevented by a Closed Period. If the Grant Date does not occur within a Closed Period, the “Effective Grant Date” shall be the same as the “Grant Date” without any need for action by the Committee. 
  

	 	(d)	Forced Retirement. 

 The term “Forced
Retirement” shall mean forced retirement as determined under Section L. 1237-5 of the French Labor Code, as amended, and subject to the fulfillment of related conditions. 
  

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	 	(e)	Grant Date. 

 The term “Grant Date”
shall be the date on which the Committee both (i) designates the French Participants, and (ii) specifies the terms and conditions of the French-qualified Options, including the number of Shares subject to the Options, the vesting
conditions and any restrictions of the transferability of the Shares subject to the Options. 
  

	 	(f)	Option. 

 The term “Option” shall
include both: 
 (i) purchase stock options (rights to acquire Shares repurchased by the Company prior to the date on which the Option
becomes exercisable); and 
 (ii) subscription stock options (rights to subscribe for newly issued Shares). 
  

	3.	Eligibility to Participate. 

 (a)
Subject to Section 3(c) below, any individual who, on the Grant Date, is employed under the terms and conditions of an employment contract (“contrat de travail”) by a French Entity or who is a corporate officer of a French
Entity, shall be eligible to receive, at the discretion of the Committee, Options under this French Options Plan, provided that he or she also satisfies the eligibility conditions of the Plan. 
 (b) Options may not be issued under the French Options Plan to employees or corporate officers owning more than ten percent (10%) of the
Company’s capital shares or to individuals other than employees and corporate officers of a French Entity, as set forth in this Section 3. 
 (c) Options may not be issued to corporate officers of a French Entity, other than the managing corporate officers (e.g., Président du Conseil d’Administration, Directeur
Général, Directeur Général Délégué, Membre du Directoire, Gérant de Sociétés par actions), unless the corporate officer is employed under the terms of an employment contract
(“contrat de travail”) by a French Entity, as defined by French law and in accordance with applicable French rules. 
  

	4.	Closed Period. 

 Options may not be granted
during a Closed Period as set forth in Section L. 225-177 of the French Commercial Code, as amended, to the extent such Closed Periods are applicable to Options granted by the Company. 
  

	5.	Conditions of the Options. 

 (a) The
Option Price and number of Shares subject to the Options shall not be modified after the Effective Grant Date, except as provided in Section 9 of this French Options Plan, or as otherwise authorized by French law. Any other modification
permitted under the Plan may result in the Options no longer qualifying as French-qualified Options. 
  

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 (b) The Options will vest and become exercisable pursuant to the terms and conditions set forth in
the Plan, this French Options Plan and the stock option award agreement delivered to each French Participant. 
 (c) The Option Price
for Options granted under this French Options Plan shall be fixed by the Committee on the Grant Date. In no event shall the Option Price be less than the greatest of the following: 
  

	 	(i)	with respect to purchase stock options: the higher of either 80% of the average of the quotation price of the Shares during the twenty (20) days of quotation immediately
preceding the Effective Grant Date or 80% of the average of the purchase price paid for such Shares by the Company; 

  

	 	(ii)	with respect to subscription stock options: 80% of the average of the quotation price of the Shares during the twenty (20) days of quotation immediately preceding the Effective
Grant Date; and 

  

	 	(iii)	the minimum Option Price permitted under the Plan. 

  

	6.	Exercise of the Options. 

 (a) At the
time the French-qualified Options are granted, the Committee shall fix the period within which the French-qualified Options vest and may be exercised and shall determine any conditions that must be satisfied before the French-qualified Options may
be exercised. Specifically, the Committee may provide for a holding period measured from the Effective Grant Date for the vesting or exercise of the French-qualified Options or for the sale of Shares acquired pursuant to the exercise of the
French-qualified Options, designed to obtain the favorable tax and social security treatment pursuant to Section 163 bis C of the French Tax Code, as amended, or any section of a French code providing for a favorable tax and/or social security
regime. Such period for the vesting or exercise of the French-qualified Options or holding period before the sale of Shares shall be set forth in the applicable stock option award agreement. The holding period of the Shares shall not exceed three
(3) years as from the effective exercise date of the French-qualified Options or such other period as may be required to comply with French law. 
 (b) Upon exercise of the French-qualified Options, the full Option Price and any required withholding tax and/or social security contributions shall be paid by the French Participants as set forth in the
applicable stock option award agreement. Under a cashless exercise program, the French Participants may give irrevocable instructions to a licensed securities broker acceptable to the Company to properly deliver the Option Price to the Company. No
delivery, surrendering or attesting to the ownership of previously owned Shares having a Fair Market Value on the date of delivery equal to the aggregate Option Price of the Shares may be used to pay the Option Price. 
 (c) If a French Participant dies, his or her French-qualified Options shall thereafter be immediately vested and exercisable in full under the
conditions set forth in Section 7 of this French Options Plan. 
  

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 (d) If a French Participant is terminated or ceases to be employed by the Company or any
Affiliate, his or her French-qualified Options will be exercisable according to the provisions of the applicable stock option award agreement. 
 (e) If a French Participant is terminated or ceases to be employed by the Company or any Affiliate by reason of Disability (as defined in this French Options Plan), his or her French-qualified Options may benefit from the favorable
tax and social security treatment of French-qualified Options, even if the date of sale of the Shares subject to the Options occurs prior to the expiration of the minimum holding period of the Shares, as provided for by Section 163 bis C of the
French Tax Code, as amended. 
 (f) If a French Participant ceases to be employed by the Company or any Affiliate by reason of his or
her Forced Retirement (as defined in this French Options Plan) or dismissal as defined by Section 91-ter of Exhibit II to the French Tax Code, as amended, and as construed by the French tax circulars and subject to the fulfillment of related
conditions, his or her French-qualified Options may benefit from the favorable tax and social security treatment of French-qualified Options, irrespective of the date of sale of the Shares, provided the exercise of the Options was authorized under
the applicable stock option award agreement and the Options are exercised at least three (3) months prior to the effective date of the Forced Retirement or at least three (3) months prior to the date of the effective date of dismissal
(i.e., the date of the sending of the letter of dismissal to the French Participant, as defined by French law and as construed by French tax and social security guidelines and the French Labor Courts). 
 (g) Upon exercise of the Options, the French Participant will receive the number of Shares for which the Options are being exercised and the
Committee will not settle the Options by any other method, notwithstanding any provision in Section 6 (c) of the Plan to the contrary. The Shares acquired upon exercise of the Options shall be recorded in an account in the name of the
French Participant with a broker or in such other manner as the Company may otherwise determine in order to ensure compliance with applicable law and holding periods. 
 (h) To the extent and as long as applicable to French-qualified Options granted by the Company, a specific holding period or a restriction on exercise of the Options shall be imposed and described in the
applicable stock option award agreement for any French Participant who qualifies as a managing corporate officer under French law (“mandataires sociaux”), as defined in Section 3(c) above. 
  

	7.	Death. 

 In the event of the death of a
French Participant while he or she is actively employed, all French-qualified Options shall become immediately vested and exercisable and may be exercised in full by the French Participant’s heirs for the six (6) month period following the
date of the French Participant’s death. In the event of the death of a French Participant after termination of active employment, the treatment of the French-qualified Options shall be as set forth in the stock option award agreement. Any
French-qualified Options that remain unexercised shall expire six (6) months following the date of the French Participant’s death. The six (6) month exercise period will apply without regard to the term of the Options as described in
Section 11 of this French Options Plan. 
  

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	8.	Non-transferability of the Options. 

 Except
in the case of death, the Options cannot be transferred or surrendered to any third party. In addition, the Options are only exercisable by the French Participant during his or her lifetime, subject to Sections 6(c) and 7 above. 
  

	9.	Adjustments Upon Changes in Capitalization and Change in Control. 

 Adjustments to the French-qualified Options and/or the underlying Shares shall be made to preclude the dilution or enlargement of benefits under the Options in the event of certain transactions by the Company as set
forth in Section L. 225-181 of the French Commercial Code, as amended, and in case of a repurchase of Shares by the Company at a price higher than the stock quotation price on the open market, and according to the provisions of Section L. 228-99 of
the French Commercial Code, as amended, as well as according to specific decrees. 
 In the event of a change in the outstanding shares or a
Change in Control as set forth in Section 9 of the Plan, adjustments to the terms and conditions of the French-qualified Options and/or the underlying Shares may be made only in accordance with the Plan and pursuant to applicable French legal
and tax rules. 
 Nevertheless, the Committee may, in its sole discretion, determine to make adjustments in the case of a transaction for
which adjustments are not authorized under French law, in which case the Options may no longer qualify as French-qualified Options. 
 Assumption of the French-qualified Options in the case of a Change in Control, as well as an acceleration of the vesting and exercisability of the French-qualified Options or any other mechanism implemented upon such Change in Control, or
in any other event, to compensate the Participants, may result in the Options no longer being eligible for the favorable French tax and social security regime. 
  

	10.	Disqualification of the Options. 

 If the
Options or underlying Shares are modified or adjusted in a manner in keeping with the terms of the Plan or as mandated as a matter of law or by decision of the Company’s shareholders or the Board or the Committee, and the modification or
adjustment is contrary to the terms and conditions of this French Options Plan, the Options may no longer qualify for favorable tax and social security treatment in France. 
 If the Options no longer qualify as French-qualified Options, the Committee may, provided it is authorized to do so under the Plan, and in its sole
discretion, determine to lift, shorten or terminate certain restrictions applicable to the Options or to the sale of the Shares underlying the Options, which may have been imposed under this French Options Plan or in the applicable stock option
award agreement in order to achieve the favorable tax and social security treatment applicable to French-qualified Options. 
  

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	11.	Term of the Options. 

 Options granted pursuant to this French Options Plan shall expire no later than nine-and-a-half (9 1/2) years after the
Grant Date, unless otherwise specified in the applicable stock option award agreement. The Option term will be extended only in the event of the death of a French Participant, but in no event will any Options be exercisable beyond six
(6) months following the date of death of the French Participant. 
  

	12.	Interpretation. 

 It is intended that Options
granted under this French Options Plan shall qualify for the favorable tax and social security treatment applicable to stock options granted under Sections L. 225-177 to L. 225-186-1 of the French Commercial Code, as amended, and in accordance with
the relevant provisions set forth by French tax and the French tax administration, but no undertaking is made to maintain such status. 
 The
terms of this French Options Plan shall be interpreted accordingly and in accordance with the relevant provisions set forth by French tax and social security laws and relevant guidelines published by French tax and social security administrations
and subject to the fulfilment of certain legal, tax and reporting obligations. 
 In the event of any conflict between the provisions of this
French Options Plan and the Plan, the provisions of this French Options Plan shall control for any grants of Option made thereunder to French Participants. 
  

	13.	Employment Rights. 

 The adoption of this
French Options Plan shall not confer upon the French Participants or any employees of a French Entity, any employment rights and shall not be construed as part of any employment contracts that a French Entity has with its employees. 
  

	14.	Amendments. 

 Subject to the terms of the
Plan, the Committee or the Committee’s Delegate reserves the right to amend or terminate this French Options Plan at any time in accordance with applicable French law. 
  

	15.	Effective Date. 

 The amended and restated
French Options Plan is effective as of its date of adoption, i.e., as of July 1, 2009. The French Options Plan is hereby adopted as of July 1, 2009. 
  

			
	By:	 	 /s/    Marcia Avedon

		 	Marcia Avedon
		 	Senior Vice President - Human Resources

  

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 Appendix 1 
  

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 INGERSOLL-RAND PLC 
 INCENTIVE STOCK PLAN OF 2007 
 (Amended and Restated as of July 1, 2009) 
  

	1.	Purpose of the Plan 

 The purpose of the Plan is to
aid the Company and its Affiliates in recruiting and retaining key employees and directors and to motivate such employees and directors to exert their best efforts on behalf of the Company and its Affiliates by providing incentives through the
granting of Awards. The Company expects that it will benefit from the added interest which such key employees and directors will have in the welfare of the Company as a result of their proprietary interest in the Company’s success. 

 

	2.	Definitions 

 The following capitalized terms used
in the Plan have the respective meanings set forth in this Section: 
  

	 	(a)	Act: The Securities Exchange Act of 1934, as amended, or any successor thereto. 

  

	 	(b)	Affiliate: With respect to the Company, any Person or entity directly or indirectly controlling, controlled by, or under common control with, the Company or any other Person or
entity designated by the Board in which the Company or an Affiliate has an interest. 

  

	 	(c)	Associate: With respect to a specified Person, means (i) any corporation, partnership, or other organization of which such specified Person is an officer or partner;
(ii) any trust or other estate in which such specified Person has a substantial beneficial interest or as to which such specified Person serves as trustee or in a similar fiduciary capacity; (iii) any relative or spouse of such specified
Person, or any relative of such spouse who has the same home as such specified Person, or who is a director or officer of the Company or any of its Subsidiaries; and (iv) any Person who is a director, officer, or partner of such specified
Person or of any corporation (other than the Company or any wholly-owned Subsidiary), partnership or other entity which is an Affiliate of such specified person. 

  

	 	(d)	Award: An Option, Stock Appreciation Right or Other Stock-Based Award granted pursuant to the Plan. 

  

	 	(e)	Beneficial Owner: A “beneficial owner”, as such term is defined in Rule 13d-3 under the Act (or any successor rule thereto) provided, however, that any individual,
corporation, partnership, group, association or other Person or entity which has the right to acquire any of the Company’s outstanding securities entitled to vote generally in election of directors at any time in the future, whether such right
is contingent or absolute, pursuant to any agreement, arrangement or understanding or upon exercise of conversion rights, warrants or options, or otherwise, shall be deemed the Beneficial Owner of such securities. 

	 	(f)	Board: The Board of Directors of the Company. 

  

	 	(g)	Change in Control: The date (i) any individual, corporation, partnership, group, association or other person or entity, together with its Affiliates and Associates (other than
a trustee or other fiduciary holding securities under an employee benefit plan of the Company or Ingersoll-Rand Company, a New Jersey corporation), is or becomes the Beneficial Owner of securities of the Company representing 30% or more of the
combined voting power of the Company’s Voting Securities; (ii) the Continuing Directors fail to constitute a majority of the members of the Board; (iii) of consummation of any transaction or series of transactions under which the
Company is merged or consolidated with any other company which is not an Affiliate; (iv) of any sale, lease, exchange or other transfer, in one transaction or a series of related transactions, of all, or substantially all, of the assets of the
Company, other than any sale, lease, exchange or other transfer to any Person or entity where the Company owns, directly or indirectly, at least 80% of the combined voting power of the Voting Securities of such Person or entity or its parent
corporation after any such transfer; or (v) any other event that the Continuing Directors determine to be a Change in Control; provided, however, that in the case of a transaction described in (i), (iii) or (v), above, there shall not be a
Change in Control if the shareholders of the Company immediately prior to any such transaction own (or continue to own by remaining outstanding or by being converted into Voting Securities of the surviving entity or parent entity) more than 50% of
the combined voting power of the Voting Securities of the Company, the surviving entity or any parent of either immediately following such transaction, in substantially the same proportion to each other as prior to such transaction.

  

	 	(h)	Code: The Internal Revenue Code of 1986, as amended, or any successor thereto. 

  

	 	(i)	Committee: The Compensation Committee of the Board (or a subcommittee thereof), or such other committee of the Board (including, without limitation, the full Board) to which the
Board has delegated power to act under or pursuant to the provisions of the Plan. 

  

	 	(j)	Company: Ingersoll-Rand Company Limited, a Bermuda company and any successor thereto. Effective July 1, 2009 “Company” shall mean Ingersoll-Rand plc, an Irish company
and any successor thereto. 

  

	 	(k)	 Continuing Directors: A director who either was a member of the Board on December 1, 2006 or who became a member of the Board subsequent to such date and whose
election, or nomination for election by the Company’s shareholders, was Duly Approved by the Continuing Directors on the Board at the time of such nomination or election, either by a specific vote or by approval of the proxy statement issued by
the Company on behalf of the Board in which such person is named as nominee for director, without due objection to such nomination, 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 or entity other than the Board. 

  

	 	(l)	Duly Approved by the Continuing Directors: An action approved by the vote of at least two-thirds of the Continuing Directors then on the Board. 

  

	 	(m)	Effective Date: June 1, 2007. 

  

	 	(n)	Fair Market Value: On a given date, (i) if there should be a public market for the Shares on such date, the average between the high and low price of the Shares as reported on
such date on the Composite Tape of the principal national securities exchange on which such Shares are listed or admitted to trading, or, if the Shares are not listed or admitted on any national securities exchange, the arithmetic mean of the per
Share closing bid price and per Share closing asked price on such date as quoted on the National Association of Securities Dealers Automated Quotation System (or such market in which such prices are regularly quoted)(the “NASDAQ”), or, if
no sale of Shares shall have been reported on the Composite Tape of any national securities exchange or quoted on the NASDAQ on such date, then the immediately preceding date on which sales of the Shares have been so reported or quoted shall be
used, and (ii) if there should not be a public market for the Shares on such date, the Fair Market Value shall be the value established by the Committee in good faith. 

  

	 	(o)	Full Value Awards: Awards of Shares under the Plan (including any future grants of restricted stock or phantom stock) that are not awards of Options or Stock Appreciation Rights.

  

	 	(p)	ISO: An Option that is also an incentive stock option granted pursuant to Section 6(d) of the Plan. 

  

	 	(q)	Option: A stock option granted pursuant to Section 6 of the Plan. 

  

	 	(r)	Option Price: The purchase price per Share of an Option, as determined pursuant to Section 6(a) of the Plan. 

  

	 	(s)	Other Stock-Based Awards: Awards granted pursuant to Section 8 of the Plan. 

  

	 	(t)	Participant: An employee or director who is selected by the Committee to participate in the Plan. 

  

	 	(u)	Performance-Based Awards: Certain Other Stock-Based Awards granted pursuant to Section 8(b) of the Plan. 

  

	 	(v)	Person: A “person”, as such term is used for purposes of Section 13(d) or 14(d) of the Act (or any successor section thereto), including any Affiliate or Associate of
the Company. 

	 	(w)	Plan: The Ingersoll-Rand plc Incentive Stock Plan of 2007, as from time to time amended and then in effect. 

  

	 	(x)	Shares: Class A common shares of the Company. Effective July 1, 2009 “Shares” shall mean ordinary shares of the Company. 

  

	 	(y)	Stock Appreciation Right: A stock appreciation right granted pursuant to Section 7 of the Plan. 

  

	 	(z)	Subsidiary: A subsidiary corporation, as defined in Section 424(f) of the Code (or any successor section thereto). 

  

	 	(aa)	Voting Securities: The outstanding securities entitled to vote generally in election of directors. 

  

	3.	Shares Subject to the Plan 

 Subject to
Section 9, the total number of Shares which may be issued under the Plan is 27,000,000 and the maximum number of Shares for which ISOs may be granted is 20% of the total number of Shares which may be issued under the Plan. For Awards granted
prior to June 3, 2009, not more than 25% shall be in the form of Full Value Awards. With respect to Awards granted on or after June 3, 2009, to the extent any Shares are granted as Full Value Awards, each such Share shall count as 2.05
Shares for purposes of the overall limit on Shares available for further grants under the Plan. The Shares may consist, in whole or in part, of unissued Shares or treasury Shares. The actual issuance of Shares upon the exercise of an Award or in
consideration of the cancellation or termination of an Award shall reduce the number of Shares available for grant under the Plan (i) in the case of Awards granted on or after June 3, 2009, with a reduction of 2.05 Shares for every Share
previously granted as a Full Value Award and a reduction of one Share for every Share previously granted as an Award of Options or Stock Appreciation Rights and (ii) in the case of Awards granted prior to June 3, 2009, with a reduction of
one Share for every Share previously granted as an Award. In the event all or any portion of an Award is terminated or lapses without the payment of consideration, the number of Shares not issued that were originally deducted for such Award pursuant
to this Section 3 shall be restored and may again be used for Awards under the Plan. In the event that Shares are retained or are otherwise not issued by the Company in order to satisfy tax withholding obligations in connection with Full Value
Awards (i.e. Awards other than Stock Options or Stock Appreciation Rights), the number of Shares so retained or not issued that were originally deducted for such Award pursuant to this Section 3 shall be restored and may again be used for
Awards under the Plan. Shares subject to an Award under the Plan may not be available again for issuance under the Plan if such Shares are retained or otherwise not issued by the Company in order to satisfy tax withholding obligations in connection
with Stock Options or Stock Appreciation Rights. 
  

	4.	Administration 

 The Plan shall be administered by
the Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof consisting solely of at least two individuals who are intended to qualify as “Non-Employee Directors” within the meaning of Rule 16b-3
under the Act (or any successor rule thereto), “independent directors” within the meaning of The New York Stock Exchange’s listed company rules and “outside directors” within the meaning of Section 162(m) of the Code
(or any successor section thereto). 

 
Additionally, the Committee may delegate the authority to grant Awards under the Plan to any employee or group of employees of the Company or an Affiliate;
provided, however, that such delegation and grants are consistent with applicable law and guidelines established by the Committee from time to time. Awards may, in the discretion of the Committee, be made under the Plan in assumption of, or in
substitution for, outstanding awards previously granted by a company acquired by the Company or with which the Company and/or any of its Affiliates combines. The number of Shares underlying such substitute awards shall be counted against the
aggregate number of Shares available for Awards under the Plan. The Committee is authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make any other determinations that it deems
necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems necessary or desirable. Any
decision of the Committee in the interpretation and administration of the Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited
to, Participants and their beneficiaries or successors). The Committee shall have the full power and authority to establish the terms and conditions of any Award consistent with the provisions of the Plan and to waive any such terms and conditions
at any time (including, without limitation, accelerating or waiving any vesting conditions). The Committee shall require payment of any amount it may determine to be necessary for federal, state, local or other taxes as a result of the exercise,
grant or vesting of an Award. The Committee shall not be required to issue any Award under the Plan until such obligations described in the previous sentence have been satisfied in full. In no event shall the Committee cancel any outstanding Option
or Stock Appreciation Right for the purpose of reissuing such Option or Stock Appreciation Right to the Participant at a lower exercise price nor shall the Committee reduce the exercise price of an outstanding Option or Stock Appreciation Right.

  

	5.	Limitations 

 No Award may be granted under the Plan
after the tenth anniversary of the Effective Date, but Awards theretofore granted may extend beyond that date. 
  

	6.	Terms and Conditions of Options 

 Options granted
under the Plan shall be, as determined by the Committee, non-qualified or incentive stock options for United States federal income tax purposes, as evidenced by the related Award letters, and shall be subject to the foregoing and the following terms
and conditions and to such other terms and conditions, not inconsistent therewith, as the Committee shall determine: 
  

	 	(a)	Option Price. The Option Price per Share shall be determined by the Committee, but shall not be less than 100% of the Fair Market Value of a Share on the date an Option is granted
(other than as described in Section 4). 

  

	 	(b)	Exercisability. Options granted under the Plan shall be exercisable at such time and upon such terms and conditions as may be determined by the Committee, but in no event shall an
Option be exercisable more than ten years after the date it is granted. 

	 	(c)	Exercise of Options. Except as otherwise provided in the Plan or in an Award letter, an Option may be exercised for all, or from time to time any part, of the Shares for which it is
then exercisable. For purposes of Section 6 of the Plan, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company or its designee or administrative agent in the form and manner satisfactory
to the Company and, if applicable, the date payment is received by the Company or its designee or administrative agent in accordance with the following sentence. The purchase price for the Shares as to which an Option is exercised shall be paid to
the Company as designated by the Committee, pursuant to one or more of the following methods: (i) in cash or its equivalent (e.g., by personal check) or (ii) if there is a public market for the Shares underlying the Options at such time,
through the delivery of irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to the Company an amount out of the proceeds of such sale equal to the aggregate Option Price for the Shares
being purchased. 

  

	 	(d)	ISOs. The Committee may grant Options under the Plan that are intended to be ISOs. Such ISOs shall comply with the requirements of Section 422 of the Code (or any successor
section thereto). No ISO may be granted to any Participant who at the time of such grant, owns more than ten percent of the total combined voting power of all classes of stock of the Company or of any Subsidiary, unless (i) the Option Price for
such ISO is at least 110% of the Fair Market Value of a Share on the date the ISO is granted and (ii) the date on which such ISO terminates is a date not later than the day preceding the fifth anniversary of the date on which the ISO is
granted. Any Participant who disposes of Shares acquired upon the exercise of an ISO either (A) within two years after the date of grant of such ISO or (B) within one year after the transfer of such Shares to the Participant, shall notify
the Company of such disposition and of the amount realized upon such disposition. All Options granted under the Plan are intended to be nonqualified stock options, unless the applicable Award letter expressly states that the Option is intended to be
an ISO. If an Option is intended to be an ISO, and if for any reason such Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a nonqualified
stock option granted under the Plan; provided that such Option (or portion thereof) otherwise complies with the Plan’s requirements relating to nonqualified stock options. In no event shall any member of the Committee, the Company or any of its
Affiliates (or their respective employees, officers or directors) have any liability to any Participant (or any other Person) due to the failure of an Option to qualify for any reason as an ISO. 

  

	 	(e)	Rights with Respect to Shares. No Participant shall have any rights to dividends or other rights of a shareholder with respect to Shares subject to an Option until the Participant
has given written notice of exercise of the Option, paid in full for such Shares and, if applicable, has satisfied any other conditions imposed by the Committee pursuant to the Plan. 

	7.	Terms and Conditions of Stock Appreciation Rights 

  

	 	(a)	Grants. The Committee may grant (i) a Stock Appreciation Right independent of an Option or (ii) a Stock Appreciation Right in connection with an Option, or a portion
thereof. A Stock Appreciation Right granted pursuant to clause (ii) of the preceding sentence (A) may only be granted at the time the related Option is granted, (B) shall cover the same number of Shares covered by an Option (or such
lesser number of Shares as the Committee may determine) and (C) shall be subject to the same terms and conditions as such Option except for such additional limitations as are contemplated by this Section 7 (or such additional limitations
as may be included in an Award letter). 

  

	 	(b)	Terms. The exercise price per Share of a Stock Appreciation Right shall be an amount determined by the Committee but in no event shall such amount be less than the Fair Market Value
of a Share on the date the Stock Appreciation Right is granted (other than as described in Section 4); provided, however, that in the case of a Stock Appreciation Right granted in conjunction with an Option, or a portion thereof, the exercise
price may not be less than the Option Price of the related Option. Each Stock Appreciation Right granted independent of an Option shall entitle a Participant upon exercise to a number of Shares equal to (1) an amount that is (i) the excess
of (A) the opening price of the Shares (as reported on the Composite Tape of the principal national securities exchange on which such shares are listed or admitted to trading) on the exercise date of one Share (the “Opening Price”)
over (B) the exercise price per Share, multiplied by (ii) the number of Shares covered by the Stock Appreciation Right, divided by (2) the Opening Price. Each Stock Appreciation Right granted in conjunction with an Option, or a
portion thereof, shall entitle a Participant to surrender to the Company the unexercised Option, or any portion thereof, and to receive from the Company in exchange therefore a number of Shares equal to (1) an amount that is (i) the excess
of (A) the Opening Price over (B) the Option Price per Share, multiplied by (ii) the number of Shares covered by the Option, or portion thereof, which is surrendered, divided by (2) the Opening Price. Payment shall be made in
Shares. Stock Appreciation Rights may be exercised from time to time upon actual receipt by the Company or its designee or administrative agent of written notice of exercise in the form and manner satisfactory to the Company stating the number of
Shares with respect to which the Stock Appreciation Right is being exercised. The date a notice of exercise is received by the Company shall be the exercise date. No fractional Shares will be issued in payment for Stock Appreciation Rights, but
instead the number of Shares will be rounded downward to the next whole Share. 

  

	 	(c)	Limitations. The Committee may impose, in its discretion, such conditions regarding the exercisability of Stock Appreciation Rights as it may deem fit, but in no event shall a Stock
Appreciation Right be exercisable more than ten years after the date it is granted. 

	8.	Other Stock-Based Awards 

  

	 	(a)	Generally. The Committee, in its sole discretion, may grant or sell Awards of Shares (including (i) Awards of Shares in lieu of any incentive or variable compensation to which
a Participant is entitled to from the Company or its Subsidiaries and (ii) Awards of Shares granted to non-employee directors as all or a part of their retainer or other fees for services), Awards of restricted Shares and Awards that are valued
in whole or in part by reference to, or are otherwise based on the Fair Market Value of, Shares (“Other Stock-Based Awards”). Such Other Stock-Based Awards shall be in such form, and dependent on such conditions, as the Committee shall
determine, including, without limitation, the right to receive, or vest with respect to, one or more Shares (or the equivalent cash value of such Shares) upon the completion of a specified period of service, the occurrence of an event and/or the
attainment of performance objectives. Other Stock-Based Awards may be granted alone or in addition to any other Awards granted under the Plan. Subject to the provisions of the Plan, the Committee shall determine to whom and when Other Stock-Based
Awards will be made, the number of Shares to be awarded under (or otherwise related to) such Other Stock-Based Awards, and all other terms and conditions of such Awards (including, without limitation, the vesting provisions thereof and provisions
ensuring that all Shares so awarded and issued shall be fully paid and non-assessable). 

  

	 	(b)	 Performance-Based Awards. Notwithstanding anything to the contrary herein, certain Other Stock-Based Awards, Options and Stock Appreciation Rights granted under
this Section 8 may be granted in a manner which is intended to be deductible by the Company under Section 162(m) of the Code (or any successor section thereto) (“Performance-Based Awards”). A Participant’s Performance-Based
Award shall be determined based on the attainment of written performance goals approved by the Committee for a performance period established by the Committee (i) while the outcome for that performance period is substantially uncertain and
(ii) no more than 90 days after the commencement of the performance period to which the performance goal relates or, if less, the number of days which is equal to 25 percent of the relevant performance period. The performance goals, which must
be objective, shall be based upon one or more of the following criteria: (i) consolidated earnings before or after taxes (including earnings before interest, taxes, depreciation and amortization); (ii) net income; (iii) operating
income; (iv) earnings per Share; (v) book value per Share; (vi) return on shareholders’ equity; (vii) expense management; (viii) return on invested capital; (ix) improvements in capital structure;
(x) profitability of an identifiable business unit or product; (xi) maintenance or improvement of profit margins or revenue; (xii) stock price; (xiii) market share; (xiv) revenues or sales; (xv) costs;
(xvi) available cash flow; (xvii) working capital; (xviii) return on assets; (xix) total shareholder return, (xx) productivity ratios, and (xxi) economic value added. In addition, to the degree consistent with
Section 162(m) of the Code (or any successor section thereto), the performance goals may be calculated without regard to extraordinary items. The maximum amount of a Performance-Based Award during a calendar year to any Participant shall be:
(x) with respect 

	 	 
to Performance-Based Awards that are Options or Stock Appreciation Rights, 750,000 Shares and (y) with respect to Performance-Based Awards that are not
Options or Stock Appreciation Rights, $10,000,000 on the date of the award. No Performance-Based Awards will be paid for a performance period until certification is made by the Committee that the criteria described in this Section 8(b) has been
attained. The amount of the Performance-Based Award actually paid to a given Participant may be less than (but not greater than) the amount determined by the applicable performance goal formula, at the discretion of the Committee. The amount of the
Performance-Based Award determined by the Committee for a performance period shall be paid to the Participant at such time as determined by the Committee in its sole discretion after the end of such performance period; provided, however, that a
Participant may, if and to the extent permitted by the Committee and consistent with the provisions of Sections 162(m) and 409A of the Code, elect to defer payment of a Performance-Based Award. 

  

	9.	Adjustments Upon Certain Events 

 Notwithstanding
any other provisions in the Plan to the contrary (except for Section 17), the following provisions shall apply to all Awards granted under the Plan: 
  

	 	(a)	Generally. In the event of any change in the outstanding Shares after the Effective Date by reason of any reorganization, recapitalization, merger, consolidation, spin-off,
combination, combination or transaction or exchange of Shares or other corporate exchange, or any distribution to shareholders of Shares other than regular cash dividends or any transaction similar to the foregoing, the Committee in its sole
discretion and without liability to any person shall make such substitution or adjustment, if any, as it deems to be equitable (subject to Section 17), as to (i) the number or kind of Shares or other securities issued or reserved for
issuance pursuant to the Plan or pursuant to outstanding Awards, (ii) the maximum number of Shares for which Options or Stock Appreciation Rights may be granted during a calendar year to any Participant (iii) the maximum amount of a
Performance-Based Award that may be granted during a calendar year to any Participant, (iv) the Option Price or exercise price of any stock appreciation right and/or (v) any other affected terms of such Awards. In the event of any change
in the outstanding Shares after the Effective Date by reason of any stock split (forward or reverse) or any stock dividend, all adjustments described in the preceding sentence shall occur automatically in accordance with the ratio of the stock split
or stock dividend, unless otherwise determined by the Committee. 

  

	 	(b)	Change in Control. The provisions of this Section 9(b) shall apply in the event of a Change in Control, unless otherwise determined by the Committee in connection with the
grant of an Award as reflected in the applicable Award letter. 

 (i) All outstanding Options and Stock Appreciation Rights
shall become immediately vested and exercisable; 

 (ii) All Other Stock-Based Awards shall become immediately vested and payable; and 
 (iii) The performance period applicable to Performance-Based Awards shall lapse and the performance goals associated with such awards shall be deemed to
have been met at their target level. 
 Notwithstanding the foregoing, the Committee may (subject to Section 17), in its sole discretion,
but shall not be obligated to, (A) cancel such Awards for fair value (as determined in the sole discretion of the Committee) which, in the case of Options and Stock Appreciation Rights, shall equal the excess, if any, of value of the
consideration to be paid in the Change in Control transaction to holders of the same number of Shares subject to such Options or Stock Appreciation Rights (or, if no consideration is paid in any such transaction, the Fair Market Value of the Shares
subject to such Options or Stock Appreciation Rights) over the aggregate exercise price of such Options or Stock Appreciation Rights, (B) provide for the issuance of substitute awards that will substantially preserve the otherwise applicable
terms of any affected Awards previously granted hereunder as determined by the Committee in its sole discretion or (C) provide that for a period of at least 15 days prior to the Change in Control, such Options and Stock Appreciation Rights
shall be exercisable as to all shares subject thereto and that upon the occurrence of the Change in Control, such Options and Stock Appreciation Rights shall terminate and be of no further force and effect. 
  

	10.	No Right to Employment or Awards 

 The granting of
an Award under the Plan shall impose no obligation on the Company or any Affiliate to continue the employment or service of a Participant and shall not lessen or affect the Company’s or Affiliate’s right to terminate the employment or
service of such Participant. No Participant or other Person shall have any claim to be granted any Award, and there is no obligation for uniformity of treatment of Participants, or holders or beneficiaries of Awards. The terms and conditions of
Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participants are similarly situated). 
  

	11.	Successors and Assigns 

 The Plan shall be binding
on all successors and assigns of the Company and a Participant, including without limitation, the estate of such Participant and the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or representative of the
Participant’s creditors. 
  

	12.	Nontransferability of Awards 

 Unless otherwise
determined by the Committee, an Award shall not be transferable or assignable by the Participant otherwise than by will or by the laws of descent and distribution. An Award exercisable after the death of a Participant may be exercised by the
legatees, personal representatives or distributees of the Participant. 

	13.	Amendments or Termination 

 The Board may amend,
alter or discontinue the Plan, but no amendment, alteration or discontinuation shall be made, (a) without the approval of the shareholders of the Company, if such action would (except as is provided in Section 9 of the Plan), increase the
total number of Shares reserved for the purposes of the Plan or change the maximum number of Shares for which Awards may be granted to any Participant or (b) without the consent of a Participant, if such action would diminish any of the rights
of the Participant under any Award theretofore granted to such Participant under the Plan; provided, however, that the Committee may amend the Plan in such manner as it deems necessary to permit the granting of Awards meeting the requirements of the
Code or other applicable laws (including, without limitation, to avoid adverse tax consequences to the Company or to Participants). 
  

	14.	International Participants 

 With respect to
Participants who reside or work outside the United States of America and who are not (and who are not expected to be) “covered employees” within the meaning of Section 162(m) of the Code, the Committee may, in its sole discretion,
amend the terms of the Plan or Awards with respect to such Participants in order to conform such terms with the requirements of local law or to obtain more favorable tax or other treatment for a Participant, the Company or an Affiliate. 

 

	15.	Choice of Law 

 The Plan shall be governed by and
construed in accordance with the laws of the State of New Jersey without regard to conflicts of laws. 
  

	16.	Effectiveness of the Plan 

 The Plan shall be
effective as of the Effective Date, subject to the approval of the shareholders of the Company. 
  

	17.	Section 409A 

 Notwithstanding other provisions
of the Plan or any Award letter thereunder, no Award shall be granted, deferred, accelerated, extended, paid out or modified under this Plan in a manner that would result in the imposition of an additional tax under Section 409A of the Code
upon a Participant. In the event that it is reasonably determined by the Committee that, as a result of Section 409A of the Code, payments in respect of any Award under the Plan may not be made at the time contemplated by the terms of the Plan
or the relevant Award letter, as the case may be, without causing the Participant holding such Award to be subject to taxation under Section 409A of the Code, the Company will make such payment on the first day that would not result in the
Participant incurring any tax liability under Section 409A of the Code. 
 Without limiting the generality of the foregoing, to the
extent applicable, notwithstanding anything herein to the contrary, this Plan and Awards issued hereunder shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretative guidance
issued thereunder, including without limitation any 

 
such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that
the Committee determines that any amounts payable hereunder will be taxable to a Participant under Section 409A of the Code and related Department of Treasury guidance prior to payment to such Participant of such amount, the Company may
(a) adopt such amendments to the Plan and Awards and appropriate policies and procedures, including amendments and policies with retroactive effect, that the Committee determines necessary or appropriate to preserve the intended tax treatment
of the benefits provided by the Plan and Awards hereunder and/or (b) take such other actions as the Committee determines necessary or appropriate to avoid the imposition of an additional tax under Section 409A of the Code. 
 IN WITNESS WHEREOF, the Company has caused this amendment and restatement to be executed by its duly authorized representative as of July 1, 2009. 
  

			
	INGERSOLL-RAND PLC
		
	By:	 	/s/ Barbara A. Santoro
		 	 Barbara A. Santoro
 Vice President &
SecretaryTrane Inc. 2002 Omnibus Incentive Plan

 Exhibit 10.17 
 TRANE INC. 
 2002 OMNIBUS INCENTIVE PLAN 
 (Restated to include all amendments through July 1, 2009) 
 SECTION 1 
 PURPOSE 
 The purpose of the Plan is to foster and promote the long-term financial success of the Company and materially increase shareholder value by (a) providing flexibility to the Company to implement annual and
long term incentives that are consistent with the Company’s goals, (b) encouraging and providing for the acquisition of an ownership interest in the Company by Employees, and (c) enabling the Company to attract and
retain the services of world-class leaders upon whose judgment, interest and special effort the successful conduct of its operations is largely dependent. 
 SECTION 2 
 DEFINITIONS 
 2.1 Definitions. Whenever used herein, the following terms shall have the respective meanings set forth below: 
 (a) “Act” means the Securities Exchange Act of 1934, as amended. 
 (b)
“Adjustment Event” shall mean any stock dividend, stock split or share combination of, or extraordinary cash dividend on, the Common Stock or recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination,
exchange of shares, warrants or rights offering to purchase Common Stock at a price substantially below Fair Market Value, or other similar event affecting the Common Stock of the Company. 
 (c) “Annual Incentive Award” means an Incentive Award made pursuant to Section 9 with a Performance Cycle of one year or
less. 
 (d) “Beneficial Owner” means any “person”, as such term is used in Section 13(d) of the Act,
who, directly or indirectly, has or shares the right to vote or dispose of such securities or otherwise has “beneficial ownership” of such securities (within the meaning of Rule 13d-3 and Rule 13d-5 under the Act), including pursuant to
any agreement, arrangement or understanding (whether or not in writing). 

 (e) “Board” means the Board of Directors of the Company. 
 (f) “Cause” means a Participant’s (i) dishonesty, fraud or misrepresentation, (ii) the Participant’s
engaging in conduct that is injurious to the Company or any Subsidiary in any way, including, but not limited to by way of damage to its reputation or standing in the industry, (iii) the Participant’s having been convicted of, or entered a
plea of nolo contendere to, a crime that constitutes a felony; (iv) the breach by the Participant of any written covenant or agreement with the Company or any Subsidiary not to disclose or misuse any information pertaining to, or misuse any
property of, the Company or any Subsidiary or (v) a material violation by the Participant of any policy of the Company or any Subsidiary. 
 (g) “Change of Control” shall mean the occurrence of any of the following events: 
 (i) any “person”, as such term is used in Section 13(d) of the Act (other than the Company, any Subsidiary or any employee benefit plan maintained by the Company or any Subsidiary (or any trustee or other fiduciary thereof))
is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the Company’s then-outstanding securities, provided, however, that an acquisition of securities of
the Company representing less than 25% of the combined voting power shall not constitute a Change of Control if, prior to meeting the 20% threshold, the members of the Board who are not Employees unanimously adopt a resolution consenting to such
acquisition by such Beneficial Owners; 
 (ii) during any consecutive 24-month period, individuals who at the beginning of
such period constitute the Board, together with those individuals who first become directors during such period (other than by reason of an agreement with the Company or the Board in settlement of a proxy contest for the election of directors) and
whose election or nomination for election to the Board was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was
previously so approved (the “Continuing Directors”), cease for any reason to constitute a majority of the Board; 
  

 - 2 - 

 (iii) the consummation of any merger, consolidation, recapitalization or reorganization
involving the Company, other than any such transaction immediately following which the persons who were the Beneficial Owners of the outstanding voting securities of the Company immediately prior to such transaction are the Beneficial Owners of at
least 55% of the total voting power represented by the voting securities of the entity surviving such transaction or the ultimate parent of such entity in substantially the same relative proportions as their ownership of the Company’s voting
securities immediately prior to such transaction; provided that, such continuity of ownership (and preservation of relative voting power) shall be deemed to be satisfied if the failure to meet such threshold (or to preserve such
relative voting power) is due solely to the acquisition of voting securities by an employee benefit plan of the Company, such surviving entity, any Subsidiary or any subsidiary of such surviving entity; 
 (iv) the sale of substantially all of the assets of the Company to any person other than any Subsidiary or any entity in which the
Beneficial Owners of the outstanding voting securities of the Company immediately prior to such sale are the Beneficial Owners of at least 55% of the total voting power represented by the voting securities of such entity or the ultimate parent of
such entity in substantially the same relative proportions as their ownership of the Company’s voting securities immediately prior to such transaction; or 
 (v) the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company. 
 Effective June 5, 2008 Change of Control shall have the meaning set forth in the Ingersoll-Rand Company Limited Incentive Stock Plan
of 2007 or any successor thereto. 
 (h) “Change of Control Settlement Value” shall mean, with respect to a share of
Common Stock, the excess of the Change of Control Stock Value over the option price of the Option or the base price of the Stock Appreciation Right covering such share of Common Stock, provided that, (i) with respect to any Option
which is an Incentive Stock Option immediately prior to the election to receive the Change of Control 

  

 - 3 - 

 
Settlement Value, the Change of Control Settlement Value shall not exceed the maximum amount permitted for such Option to continue to qualify as an Incentive
Stock Option and (ii) in respect of that portion, if any, of any Option or Stock Appreciation Right that had not become exercisable on or before December 31, 2004, the Change of Control Settlement Value shall not exceed the maximum amount
permitted for such Option or Stock Appreciation Right to remain exempt from Section 409A. 
 (i) “Change of Control
Stock Value” shall mean the value of a share of Common Stock determined as follows: 
 (i) if the Change of Control
results from an event described in clause (iii) of the Change of Control definition, the highest per share price paid for shares of Common Stock of the Company in the transaction resulting in the Change of Control; or 
 (ii) if the Change of Control results from an event described in clause (i), (ii) (iv) or (v) of the Change of Control
definition and no event described in clause (iii) of the Change of Control definition has occurred in connection with such Change of Control, the highest sale price of a share of Common Stock of the Company on any trading day during the 60
consecutive trading days immediately preceding and following the date of such Change of Control as reported on the New York Stock Exchange Composite Tape, or other national securities exchange on which the Common Stock is traded, and published in
The Wall Street Journal; 
 (j) “Code” means the Internal Revenue Code of 1986, as amended. 
 (k) “Committee” means the Management Development and Nominating Committee of the Board (or such other committee of the Board
that the Board shall designate), which shall consist of two or more members, each of whom shall be a non-employee director within the meaning of Rule 16b-3, as promulgated under the Act and serving at the pleasure of the Board. Effective
June 5, 2008, Committee means the Compensation Committee of the Board (or such other committee of the Board that the Board shall designate), which shall consist of two or more members, each of whom shall be a non-employee director within the
meaning of Rule 16b-3, as promulgated under the Act and serving at the pleasure of the Board. Notwithstanding the foregoing, with respect to Incentive Awards granted to non-employee directors, the Committee shall mean the entire Board. 

 

 - 4 - 

 (l) “Common Stock” means the common stock of the Company, par value $0.01 per
share. Effective July 1, 2009, “Common Stock “ means the ordinary shares of the Company, par value $1.00 per share. 
 (m) “Company” means Trane Inc., a Delaware corporation, and any successor thereto. Effective June 5, 2008, “Company” means Ingersoll-Rand Company Limited, a Bermuda company. Effective July 1, 2009
“Company” means Ingersoll-Rand plc, an Irish company 
 (n) “Disability” means a Participant’s
inability, due to reasonably documented physical or mental illness, for more than six months to perform his duties with the Company or a Subsidiary on a full time basis if, within 30 days after written notice of termination has been given to such
Participant, he shall not have returned to the full time performance of his duties. 
 (o) “Dividend Equivalents”
means an amount equal to the cash dividends paid by the Company upon one share of Common Stock for each Restricted Unit or property distributions awarded to a Participant in accordance with Section 8 of the Plan. 
 (p) “Employee” means an individual who is paid on the payroll of the Company or one of its Subsidiaries, and is classified on
the employer’s human resource payroll system as a regular full-time or regular part-time employee. 
 (q) “Executive
Officer” means each person who is an officer of the Company or any Subsidiary and who is subject to the reporting requirements under Section 16(a) of the Act. 
 (r) “Fair Market Value” means, on any date, the average of the highest and lowest sales price reported for such day on the
principal national exchange on which the Common Stock is listed for trade or the average of the highest and lowest bid and asked prices on such date as reported on the principal nationally recognized system of price quotation on which the Common
Stock is listed. In the event that there are no Common Stock transactions reported on such exchange or system on such date, Fair Market Value shall mean the closing price on the immediately preceding date on which Common Stock transactions were so
reported. 
  

 - 5 - 

 (s) “Family Member” means as to a Participant, any (i) child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, mother-in-law, father-in-law, son-in-law or daughter-in-law (including adoptive relationships), (ii) trusts for the exclusive benefit of one or more such persons and/or the Participant and
(iii) other entity owned solely by one or more such persons and/or the Participant. 
 (t) “Incentive Award”
means the award of an Annual Incentive Award, a Long-Term Incentive Award, an Option, a Stock Appreciation Right, a Restricted Unit, or Restricted Stock under the Plan and shall also include an award of Common Stock or Restricted Units made in
conjunction with other incentive programs established by the Company and so designated by the Committee. 
 (u)
“Long-Term Incentive Award” means an Incentive Award made pursuant to Section 9 with a Performance Cycle of two years or more. 
 (v) “Option” means the right to purchase Common Stock at a stated price for a specified period of time. For purposes of the Plan, an Option may be either (i) an “Incentive Stock Option”
with the meaning of Section 422 of the Code or (ii) an Option which is not an Incentive Stock Option (a “Non-Qualified Stock Option”). 
 (w) “Participant” means any Employee or any non-employee director of the Company designated by the Committee to receive an
Incentive Award under the Plan, provided that non-employee directors shall not be eligible for Annual Incentive Awards, Long-Term Incentive Awards or Incentive Stock Options. 
 (x) “Performance Cycle” means the period selected by the Committee during which the performance of the Company or any Subsidiary
or unit thereof or any individual is measured for the purpose of determining the extent to which an Incentive Award subject to Performance Goals has been earned. 
 (y) “Performance Goals” means the objectives for the Company, any Subsidiary or business unit thereof or individual that may be
established by the Committee for a Performance Cycle with respect to any performance based Incentive Awards contingently awarded under the Plan. The Performance Goals for Incentive Awards that are intended to constitute “performance-based”
compensation within the meaning of Section 162(m) of the Code shall be based on one or more of the following measures: sales, gross revenues, gross margins, earnings per share, internal rate of 

  

 - 6 - 

 
return, return on equity, return on capital, net income (before or after taxes), management net income, operating income, operating income before interest
expense and taxes (“OEBIT”), segment income, cash flow, free cash flow or stock price. Performance Goals may reflect absolute entity performance or a relative comparison of entity performance to the performance of a peer group or other
external measure. 
 (z) “Plan” means the Trane Inc. 2002 Omnibus Incentive Plan, as set forth herein and as the
same may be amended from time to time. 
 (aa) “Restricted Period” means the period during which Restricted Units or
shares of Restricted Stock are subject to forfeiture or restrictions on transfer (if applicable) pursuant to Section 8 of the Plan. 
 (bb) “Restricted Stock” means Common Stock awarded to a Participant pursuant to the Plan which is subject to forfeiture and restrictions on transferability in accordance with Section 8 of the Plan.

 (cc) “Restricted Unit” means a Participant’s right to receive pursuant to the Plan one share of Common Stock
at the end of a specified period of time, which right is subject to forfeiture in accordance with Section 8 of the Plan. 
 (dd) “Retirement” means termination of a Participant’s employment on or after the Participant attains (i) age 55 with 5 years of service or (ii) age 50 with 10 years of service. 
 (ee) “Stock Appreciation Right” means the right to receive a payment from the Company, in cash or Common Stock, in an amount
determined under Section 7 of the Plan. 
 (ff) “Subsidiary” means any corporation, partnership or limited
liability company in which the Company owns, directly or indirectly, 50% or more of the total combined voting power of all classes of stock of such corporation or of the capital interest or profits interest of such partnership. 
 2.2 Gender and Number. Except when otherwise indicated by the context, words in the masculine gender used in the Plan shall include the feminine
gender, the singular shall include the plural, and the plural shall include the singular. 
  

 - 7 - 

 SECTION 3 
 ELIGIBILITY AND PARTICIPATION 
 Participants in the Plan shall be those Employees and non-employee directors selected by the
Committee to participate in the Plan. 
 SECTION 4 
 ADMINISTRATION 
 4.1 Power to Grant and Establish Terms of Incentive Awards. The Committee shall have
the authority, subject to the terms of the Plan, to determine the Participants to whom Incentive Awards shall be granted and the terms and conditions of any and all Incentive Awards, including but not limited to the number of shares of Common Stock
to be covered by each Incentive Award, the time or times at which Incentive Awards shall be granted, and the terms and provisions of the instruments by which Options shall be evidenced; to designate Options as Incentive Stock Options or
Non-Qualified Stock Options; to determine the period of time during which restrictions on Restricted Stock or Restricted Units shall remain in effect; and to establish and administer any Performance Goals applicable to Incentive Awards granted
hereunder, as well as to determine Participants’ target Annual Incentive and Long-Term Incentive Awards. The proper officers of the Company may suggest to the Committee the Participants who should receive Incentive Awards. The terms and
conditions of each Incentive Award shall be determined by the Committee at the time of grant, and such terms and conditions shall not be subsequently changed in a manner which would be adverse to the Participant without the consent of the
Participant to whom such Incentive Award has been granted. The Committee may establish different terms and conditions for different Participants receiving Incentive Awards and for the same Participant for each Incentive Award such Participant may
receive, whether or not granted at different times. The grant of any Incentive Award to any Participant shall neither entitle such Participant to, nor disqualify him from, the grant of any other Incentive Awards. Notwithstanding anything else
contained in the Plan to the contrary, the Committee may delegate, subject to such terms and conditions or guidelines as it shall determine, to any employee of the Company or to a committee of employees of the Company any portion of its authority
and powers under the Plan with respect to Participants who are not Executive Officers. Effective June 5, 2008, no additional Incentive Awards shall be granted under the Plan. 
  

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 4.2 Administration. The Committee shall be responsible for the administration of the Plan. Any
Incentive Award granted by the Committee may be subject to such conditions, not inconsistent with the terms of the Plan, as the Committee shall determine. The Committee, by majority action thereof, is authorized to prescribe, amend and rescind rules
and regulations relating to the Plan, to provide for conditions deemed necessary or advisable to protect the interests of the Company to interpret the Plan and to make all other determinations necessary or advisable for the administration and
interpretation of the Plan to carry out its provisions and purposes. Determinations, interpretations or other actions made or taken by the Committee pursuant to the provisions of the Plan shall be final, binding and conclusive for all purposes and
upon all persons. The Committee may consult with legal counsel, who may be counsel to the Company, and shall not incur any liability for any action taken in good faith in reliance upon the advice of counsel. 
 4.3 Participants Based Outside the United States. Notwithstanding anything to the contrary herein, the Committee, in order to conform with
provisions of local laws and regulations in foreign countries in which the Company or its Subsidiaries operate, shall have sole discretion to (i) modify the terms and conditions of Incentive Awards granted to Participants employed outside the
United States, (ii) establish subplans with modified exercise procedures and such other modifications as may be necessary or advisable under the circumstances presented by local laws and regulations, provided that no more than 1,000,000 shares
shall be issued as Incentive Awards under such subplans; and (iii) take any action which it deems advisable to obtain, comply with or otherwise reflect any necessary governmental regulatory procedures, exemptions or approvals with respect to
the Plan or any subplan established hereunder. 
 4.4 Newly Eligible Participants. The Committee shall be entitled to make such
rules, determinations and adjustments as it deems appropriate with respect to any Participant who becomes eligible to receive a performance based Incentive Award after the commencement of a Performance Cycle.  
 4.5 Restrictive Covenants and Other Conditions. The Committee may condition the grant of any Incentive Award under the Plan upon the Participant
to whom such Incentive Award would be granted agreeing in writing to certain conditions in addition to the provisions regarding exercisability of an Option or the vesting or payment of any other Incentive Award (such as restrictions on the ability
to transfer the underlying shares of Common Stock) or covenants in favor of the Company and/or its Subsidiaries (including, without limitation covenants not to compete, not to solicit employees and customers that may have effect following the
termination of the Participant’s employment and after the Option has been 

  

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exercised or the Incentive Award has otherwise vested, including, without limitation, the requirement that the Participant disgorge any profit, gain or other
benefit received in respect of the Incentive Award prior to any breach of any such covenant by the Participant). 
 4.6 409A
Compliance. The Plan is intended to be administered in a manner consistent with the requirements, where applicable, of Section 409A of the Code. Where reasonably possible and practicable, the Plan shall be administered in a manner to avoid
the imposition on Participants of immediate tax recognition and additional taxes pursuant to such Section 409A. To that end, and without limiting the generality of the foregoing, unless otherwise expressly provided herein or in any Incentive
Award agreement, any amount payable or shares distributable hereunder in connection with the vesting of any Incentive Award (including upon the satisfaction of any applicable performance criteria) shall be paid not later than two and one-half months
(or such other time as is required to cause such amounts not to be treated as deferred compensation under Section 409A of the Code) following the end of the taxable year of the Company or the Participant in which the Participant’s rights
with respect to the corresponding Incentive Award (or portion thereof) ceased to be subject to a substantial risk of forfeiture. Notwithstanding the foregoing, neither the Company nor the Committee shall have any liability to any person in the event
such Section 409A applies to any such Incentive Award in a manner that results in adverse tax consequences for the Participant or any of his beneficiaries or transferees. 
 SECTION 5 
 STOCK SUBJECT TO PLAN 
 5.1 Number. Subject to the provisions of Section 5.3, the number of shares of Common Stock available for Incentive Awards under the Plan
shall be 16,500,000. The shares to be delivered under the Plan may consist, in whole or in part, of Common Stock held in treasury or authorized but unissued Common Stock, not reserved for any other purpose. The total number of shares of Common Stock
available under the Plan for Incentive Awards other than Options and Stock Appreciation Rights shall not exceed 1,000,000. 
 5.2
Cancelled, Terminated, or Forfeited Awards. Any shares of Common Stock subject to an Incentive Award issued under this Plan which for any reason expires, or is canceled, terminated or otherwise settled without the issuance of any
consideration, whether in cash, Common Stock or other property (including, without limitation, any shares issued in connection with a Restricted Stock award that are subsequently forfeited) shall again be available under the Plan. 
  

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 5.3 Adjustment Due to Change in Capitalization. In the event of any Adjustment Event, (i) the
aggregate number of shares of Common Stock available for Incentive Awards under Section 5.1, (ii) the aggregate limitations on the number of shares that may be awarded as a particular type of Incentive Award or that may be awarded to any
particular Participant in any particular period under Section 5.4 and (iii) the aggregate number of shares subject to outstanding Incentive Awards and the respective prices and/or vesting criteria applicable to outstanding Incentive Awards
shall be proportionately adjusted to reflect, as deemed equitable and appropriate by the Committee, an Adjustment Event. To the extent deemed equitable and appropriate by the Committee, subject to any required action by stockholders, in any merger,
consolidation, reorganization, liquidation, dissolution, or other similar transaction, any Incentive Award granted under the Plan shall pertain to the securities and other property, including cash, to which a holder of the number of shares of Common
Stock covered by the Incentive Award would have been entitled to receive in connection with such event. 
 Any shares of stock (whether
Common Stock, shares of stock into which shares of Common Stock are converted or for which shares of Common Stock are exchanged or shares of stock distributed with respect to Common Stock) or cash or other property received with respect to any award
of Restricted Stock or Restricted Units granted under the Plan as a result of any Adjustment Event or any distribution of property shall, except as provided in Section 10 or as otherwise provided by the Committee at or after the date an award
of Restricted Stock or Restricted Units is made by the Committee, be subject to the same terms and conditions, including restrictions on transfer, as are applicable to such shares of Restricted Stock or Restricted Units and any stock certificate(s)
representing or evidencing any shares of stock so received shall be legended in such manner as the Company deems appropriate. 
 5.4
Incentive Award Limitations. Subject to Section 5.3: 
 (a) the total number of shares of Common Stock subject to
Options and Stock Appreciation Rights awarded to any Participant during a calendar year may not exceed 4,500,000; 
 (b) the
total amount of any Restricted Stock or Restricted Units that may be awarded to any Participant during a calendar year shall not exceed 450,000 shares or units as the case may be; 
  

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 (c) the total amount of any Annual Incentive Award paid to an y Participant during a
calendar year shall not exceed $3,000,000; and 
 (d) the total amount of any Long-Term Incentive Award paid to any
Participant during a calendar year shall not exceed $4,500,000. 
 SECTION 6 
 STOCK OPTIONS 
 6.1 Grant of Options. Options may be granted to Participants at
such time or times as shall be determined by the Committee; provided that, in no event shall the Committee be permitted to grant Options conditioned on the surrender or cancellation of previously granted Options. Options granted to non-employee
directors shall be in such amounts and intervals as determined by the Board from time to time. Options granted under the Plan may be of two types: (i) Incentive Stock Options and (ii) Non-Qualified Stock Options, except that
no Incentive Stock Option may be granted to a non-employee director or to any Employee of a Subsidiary which is not a corporation (unless the Subsidiary is a disregarded entity for Federal income tax purposes). The date of grant of an Option under
the Plan will be the date on which the Option is awarded by the Committee or, if so determined by the Committee, the date on which occurs any event the occurrence of which is an express condition precedent to the grant of the Option. Subject to
Section 5.4, the Committee shall determine the number of Options, if any, to be granted to the Participant. Each Option shall be evidenced by an electronic or written document that shall specify the type of Option granted, the exercise price,
the duration of the Option, the number of shares of Common Stock to which the Option pertains, and such other terms and conditions not inconsistent with the Plan as the Committee shall determine. 
 6.2 Option Price. Non-Qualified Stock Options and Incentive Stock Options granted pursuant to the Plan shall have an exercise price that is not
less than the Fair Market Value on the date the Option is granted. Except in the event of an Adjustment Event, the Committee shall not have the power or authority to reduce the exercise price of any outstanding Option, whether through amendment,
through the cancellation of existing grants and the issuance of new grants with lower exercise prices or by any other means. 
 6.3
Exercise of Options. Options awarded to a Participant under the Plan shall be exercisable at such times and shall be subject to such restrictions and conditions including the performance of a minimum period of service or the satisfaction of
Performance 

  

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Goals, as the Committee may impose either at or after the time of grant of such Options, subject to the Committee’s right to accelerate the
exercisability of such Option in its discretion. Notwithstanding the foregoing, unless otherwise determined by the Committee at grant, Options shall become exercisable in three equal installments on each of the first three anniversaries of the date
of grant. Except as may be provided in any provision approved by the Committee pursuant to this Section 6.3, after becoming exercisable each installment shall remain exercisable until expiration, termination or cancellation of the Option. An
Option may be exercised from time to time, in whole or in part, up to the total number of shares of Common Stock with respect to which it is then exercisable. Notwithstanding the foregoing, no Option shall be exercisable for more than 10 years after
the date on which it is granted. 
 6.4 Payment. The Committee shall establish procedures governing the exercise of Options. No shares
shall be delivered pursuant to any exercise of an Option unless arrangements satisfactory to the Committee have been made to assure full payment of the exercise price therefor. Without limiting the generality of the foregoing, payment of the
exercise price may be made (i) in cash or cash equivalents, (ii) by exchanging shares of Common Stock which have been owned by the Participant for at least six months’ at the time of exercise (or such greater or lesser
period as the Committee shall determine), (iii) by any combination of the foregoing; provided that the combined value of all cash and cash equivalents paid and the Fair Market Value of any such Common Stock so tendered to the Company, valued as
of the date of such tender, is at least equal to the exercise price, (iv) through an arrangement with a broker approved by the Company whereby payment of the exercise price is accomplished with the proceeds of the sale of Common Stock or
(v) through such other procedures as the Committee may determine. As soon as administratively practicable after receipt of a written exercise notice and payment of the exercise price in accordance with this Section 6.4, the Company shall
deliver to the Participant a certificate or certificates representing the acquired shares of Common Stock. 
 6.5 Settlement. At the
time a Participant exercises an Option in lieu of accepting payment of the exercise price of the Option and delivering the number of shares of Common Stock for which the Option is being exercised, the Committee may direct that the Company either
(i) pay the Participant a cash amount, or (ii) issue a lesser number of shares of Common Stock having a Fair Market Value on the date of exercise, equal to the amount, if any, by which the aggregate Fair Market Value of the
shares of Common Stock as to which the Option is being exercised exceeds the aggregate exercise price for such shares, based on such 

  

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terms and conditions as the Committee shall establish; provided that, for the avoidance of doubt, in either case, the number of shares remaining for issuance
under the Plan shall be determined as though the full number of shares corresponding to the portion of such Option settled or net exercised pursuant to this Section 6.5 had been issued. 
 6.6 Incentive Stock Options. Notwithstanding anything in the Plan to the contrary, no term of the Plan relating to Incentive Stock Options shall
be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be so exercised, so as to disqualify the Plan under Section 422 of the Code, or, without the consent of any Participant affected thereby, to cause
any Incentive Stock Option previously granted to fail to qualify for the Federal income tax treatment afforded under Section 421 of the Code. 
 6.7 Termination of Employment Due to Retirement. Unless otherwise determined by the Committee at the time of grant, in the event a Participant’s employment with the Company or a Subsidiary terminates by reason of Retirement, any
such Options granted to such Participant which are exercisable at the date of such Participant’s termination of employment may be exercised at any time during the remainder of the full term of such Options. 
 6.8 Termination of Employment Due to Death or Disability. Unless otherwise determined by the Committee at the time of grant, in the event a
Participant’s employment with the Company or a Subsidiary terminates by reason of death or Disability, any such Options granted to such Participant which are exercisable at the date of such Participant’s termination of employment may be
exercised by the Participant or the Participant’s designated beneficiary, and if none is named, in accordance with Section 11.2, at any time during the remainder of the full term of such Options. 
 6.9 Termination of Employment for Cause. Unless otherwise determined by the Committee at the time of grant, in the event a Participant’s
employment with the Company or a Subsidiary is terminated for Cause, all Options granted to such Participant which are then outstanding (whether or not exercisable prior to the date of such termination) shall be forfeited. 
 6.10 Termination of Employment for Any Other Reason. Unless otherwise determined by the Committee at or after the time of grant, in the event a
Participant’s 

  

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employment with the Company or a Subsidiary terminates for any reason other than one described in Section 6.7, 6.8 or 6.9, any Options granted to such
Participant which are exercisable at the date of such Participant’s termination of employment shall be exercisable at any time prior to 90 days following such Participant’s termination of employment or the expiration of the term of such
Options, whichever period is shorter. 
 6.11 Cancellation of Unvested Options. Notwithstanding anything else contained in this
Section 6 to the contrary, unless otherwise determined by the Committee at or after the time of grant, upon a Participant’s termination of employment for any reason, including death, any Options granted to such Participant which are not
exercisable as of the date of such termination of employment shall be cancelled. 
 6.12 Committee Discretion. Notwithstanding
anything else contained in this Section 6 to the contrary, the Committee may permit all or any portion of any Options to be exercised following a Participant’s termination of employment for any reason on such terms and subject to such
conditions as the Committee shall determine for a period up to and including, but not beyond, the expiration of the term of such Options. 
 SECTION 7 
 STOCK APPRECIATION RIGHTS 
 7.1 Grant of Stock Appreciation Rights. Stock Appreciation Rights may be granted to any Participants, all Participants or any class of Participants at such time or times as shall be determined by the Committee.
Stock Appreciation Rights may be granted in tandem with an Option, or may granted on a freestanding basis, not related to any Option. A grant of a Stock Appreciation Right shall be evidenced in writing, whether as part of the agreement governing the
terms of the Option, if any, to which such Stock Appreciation Rights relate or pursuant to a separate written agreement with respect to freestanding Stock Appreciation Rights, in each case containing such provisions not inconsistent with the Plan as
the Committee shall approve. 
 7.2 Terms and Conditions of Stock Appreciation Rights. The terms and conditions (including, without
limitation, the exercise period of the Stock Appreciation Right, the vesting schedule applicable thereto and the impact of any termination of service on the Participant’s rights with respect to the Stock Appreciation Right) applicable with
respect to (i) Stock Appreciation Rights granted in tandem with an Option shall be substantially identical (to 

  

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the extent possible taking into account the differences related to the character of the Stock Appreciation Right) to the terms and conditions applicable to
the tandem Options and (ii) freestanding Stock Appreciation Rights shall be substantially identical (to the extent possible taking into account the differences related to the character of the Stock Appreciation Right) to the terms and
conditions that would have been applicable under Section 6 above were the grant of the Stock Appreciation Rights a grant of an Option. 
 7.3 Exercise of Tandem Stock Appreciation Rights. Stock Appreciation Rights which are granted in tandem with an Option may only be exercised upon the surrender of the right to exercise such Option for an equivalent number of shares
and may be exercised only with respect to the shares of Common Stock for which the related Option is then exercisable. 
 7.4 Payment of
Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, the holder shall be entitled to receive payment, in cash, in shares of Common Stock or in a combination thereof, as determined by the Committee, of an amount
determined by multiplying the excess, if any, of the Fair Market Value of a share of Common Stock at the date of exercise over the Fair Market Value of a share of Common Stock on the date of grant, by the number of shares of Common Stock with
respect to which the Stock Appreciation Rights are then being exercised; provided that, for the avoidance of doubt, the number of shares remaining for issuance under the Plan shall be determined as though the full number of shares corresponding to
the portion of such Stock Appreciation Right exercised had been issued. 
 SECTION 8 
 RESTRICTED STOCK AND RESTRICTED UNITS 
 8.1 Grant of Restricted Stock and Restricted
Units. Any award made hereunder of Restricted Stock or Restricted Units shall be subject to the terms and conditions of the Plan and to any other terms and conditions not inconsistent with the Plan (including, but not limited to, requiring the
Participant to pay the Company an amount equal to the par value per share for each share of Restricted Stock awarded) as shall be prescribed by the Committee in its sole discretion. As determined by the Committee, with respect to an award of
Restricted Stock, the Company shall either (i) transfer or issue to each Participant to whom an award of Restricted Stock has been made the number of shares of Restricted Stock specified by the Committee or (ii) hold such
shares of Restricted Stock for the benefit of the Participant for the Restricted Period. In the case of an award of Restricted Units, no shares of Common Stock shall be issued at the time an award is made, and the Company shall not be required to
set aside a fund for the payment of such award. 
  

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 8.2 Restrictions on Transferability. Shares of Restricted Stock may not be sold, assigned,
transferred, pledged, hypothecated or otherwise encumbered by the Participant during the Restricted Period, except as hereinafter provided. Notwithstanding the foregoing, the Committee may permit (on such terms and conditions as it shall establish)
shares of Restricted Stock to be transferred during the Restricted Period pursuant to Section 12.1, provided that any shares of Restricted Stock so transferred shall remain subject to the provisions of this Section 8. 
 8.3 Rights as a Shareholder. Except for the restrictions set forth herein and unless otherwise determined by the Committee, the Participant shall
have all the rights of a shareholder with respect to such shares of Restricted Stock, including but not limited to, the right to vote and the right to receive dividends. A Participant shall not have any right, in respect of Restricted Units awarded
pursuant to the Plan, to vote on any matter submitted to the Company’s stockholders until such time as the shares of Common Stock attributable to such Restricted Units have been issued. At the discretion of the Committee, a Participant’s
Restricted Unit account may be credited with Dividend Equivalents during the Restricted Period. 
 8.4 Restricted Period. Unless the
Committee shall otherwise determine at or after the date an award of Restricted Stock or Restricted Units is made to the Participant by the Committee, the Restricted Period shall commence upon the date of grant and shall lapse with respect to the
shares of Restricted Stock or Restricted Units on the third anniversary of the date of grant, unless sooner terminated as otherwise provided herein. Without limiting the generality of the foregoing, the Committee may provide for termination of the
Restricted Period upon the achievement by the Participant of Performance Goals specified by the Committee at the date of grant. The determination of whether the Participant has achieved such Performance Goals shall be made by the Committee in its
sole discretion. 
 8.5 Legend. Each certificate issued to a Participant in respect of shares of Restricted Stock awarded under the
Plan shall be registered in the name of the Participant and shall be legended in such manner as the Company deems appropriate. 
 8.6
Death, Disability or Retirement. Unless the Committee shall otherwise determine at the date of grant, if a Participant ceases to be employed by the Company or any Subsidiary by reason of death, Disability or Retirement, the Restricted Period
will lapse as to a pro rated portion of the shares of Restricted Stock and Restricted Units transferred or issued to 

  

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such Participant under the Plan based on the number of days the Participant actually worked since the date the shares of Restricted Stock or Restricted Units
were granted (or in the case of an award which becomes vested in installments, since the date, if any, on which the last installment of such Restricted Stock or Restricted Units became vested); provided that, in the case of an award
with respect to which the restrictions will lapse, if at all, based on the attainment of Performance Goals or targets, such vesting shall be deferred until the end of the applicable performance period and be based on that number of shares of
Restricted Stock or Restricted Units, if any, that would have been earned based on the attainment or partial attainment of such Performance Goals or targets. Any shares of Restricted Stock or Restricted Units as to which the Restricted Period has
not lapsed at the date of a Participant’s termination of employment by reason of death, Disability or Retirement (or which do not become vested after such date under the preceding sentence) shall revert back to the Company upon such
Participant’s termination of employment (or, if applicable, such deferred vesting date). 
 8.7 Termination of Employment. Unless
the Committee shall otherwise determine at or after the date of grant, if a Participant ceases to be employed by the Company or any Subsidiary for any reason other than those specified in Section 8.6 at any time prior to the date when the
Restricted Period lapses, all shares of Restricted Stock held by the Participant shall revert back to the Company and all Restricted Units and any Dividend Equivalents credited to such Participant shall be forfeited upon the Participant’s
termination of employment. 
 8.8 Issuance of New Certificates; Settlement of Restricted Units. Upon the lapse of the Restricted
Period with respect to any shares of Restricted Stock, such shares shall no longer be subject to the restrictions imposed under Section 8.2 and the Company shall issue or have issued new share certificates without the legend described in
Section 8.5 in exchange for those previously issued. Upon the lapse of the Restricted Period with respect to any Restricted Units, the Company shall deliver to the Participant, or the Participant’s beneficiary or estate, as provided in
Section 12.2, one share of Common Stock for each Restricted Unit as to which restrictions have lapsed and any Dividend Equivalents credited with respect to such Restricted Units and any interest thereon. The Committee may, in its sole
discretion, elect to pay cash or part cash and part Common Stock in lieu of delivering only Common Stock for Restricted Units. If a cash payment is made in lieu of delivering Common Stock, the amount of such cash payment for each share of Common
Stock to which a Participant is entitled shall be equal to the Fair Market Value of the Common Stock on the date on which the Restricted Period lapsed with respect to the related Restricted Unit. 
  

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 8.9 Performance Related Awards. Notwithstanding anything else contained in the Plan to the
contrary and unless the Committee shall otherwise determine at the time of grant, to the extent required to ensure that the grant of an award of Restricted Shares or Restricted Units to an Executive Officer (other than an award which will vest
solely on the basis of the passage of time) is deductible by the Company or such Subsidiary pursuant to Section 162(m) of the Code, any such award shall become vested, if at all, upon the determination by the Committee that Performance Goals
established by the Committee have been attained, in whole or in part. 
 SECTION 9 
 ANNUAL AND LONG-TERM INCENTIVE AWARDS 
 9.1 Annual Incentive Awards. Unless
determined otherwise by the Committee at or after the date of grant, Annual Incentive Awards shall be payable in cash. If a Participant terminates employment before the end of a Performance Cycle due to death, Disability or Retirement, such
Participant or his or her estate, shall be eligible to receive a prorated Annual Incentive Award based on (i) in the case of death or Disability, full achievement of the Participant’s Performance Goals for such Performance Cycle and
(ii) in the case of Retirement, the actual achievement of the Performance Goals for such Performance Cycle, in each case prorated for the portion of the Performance Cycle coming before the Participant’s termination of employment. Unless
determined otherwise by the Committee at or, in the case of any Participant who is not an Executive Officer, after the date of grant, if a Participant terminates employment before payment of an Annual Incentive Award is authorized by the Committee
for any reason other than death, Disability or Retirement, the Participant shall forfeit all rights to such Annual Incentive Award. 
 9.2
Long-Term Incentive Awards. Unless determined otherwise by the Committee at or after the date of grant, Long-Term Incentive Awards shall be payable in cash. If a Participant terminates employment before the end of a Performance Cycle due to
death, Disability or Retirement, such Participant or his or her estate, shall be eligible to receive a prorated Long-Term Incentive Award based (i) in the case of death or Disability, full achievement of the Participant’s Performance Goals
for such Performance Cycle and (ii) in the case of Retirement, the actual achievement of the Performance Goals for such Performance 

  

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Cycle, in each case prorated for the portion of the Performance Cycle coming before the Participant’s termination of employment. Unless determined
otherwise by the Committee at, or, in the case of a Participant who is not an Executive Officer, after the date of grant, if a Participant terminates employment before payment of a Long-Term Incentive Award is authorized by the Committee for any
reason other than death, Disability or Retirement, the Participant shall forfeit all rights to such Long-Term Incentive Award. 
 9.3
Interpretation. Notwithstanding anything contained in the Plan to the contrary, to the extent required to so qualify any Annual Incentive Award, Long-Term Incentive Award, Restricted Unit or Restricted Stock intended to be qualified as other
performance based compensation within the meaning of Section 162(m)(4)(c) of the Code, the Committee shall not be entitled to exercise any discretion otherwise authorized under the Plan (such as the right to authorize payout at a level above
that dictated by the achievement of the relevant Performance Goals) with respect to such Incentive Award if the ability to exercise discretion (as opposed to the exercise of such discretion) would cause such award to fail to qualify as other
performance based compensation. 
 SECTION 10 
 CHANGE OF CONTROL 
 10.1 Accelerated Vesting and Payment. Subject to the provisions of
Section 10.2 below, in the event of a Change of Control each Option and Stock Appreciation Right then outstanding shall be fully exercisable regardless of the exercise schedule otherwise applicable to such Option and/or Stock Appreciation Right
and the Restricted Period shall lapse as to each share of Restricted Stock and each Restricted Unit then outstanding. In connection with such a Change of Control, the Committee may, in its discretion, provide that each Option and/or Stock
Appreciation Right shall, upon the occurrence of such Change of Control, be canceled in exchange for a cash payment by the Company of the Change of Control Settlement Value per share; provided that, if, following the Change of Control and after
taking into account any adjustment under Section 5.3 related to such Change of Control, the securities underlying any Options or Stock Appreciation Rights are not readily tradable on a public market, such a cash settlement shall occur
automatically without any further action by the Committee. 
 10.2 Alternative Awards. Notwithstanding Section 10.1, no
cancellation, acceleration of exercisability, vesting, cash settlement or other payment shall occur with respect to any Option, Stock Appreciation Right, Restricted Share or Restricted Unit if the Committee 

  

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reasonably determines in good faith prior to the occurrence of a Change of Control that such award shall be honored or assumed, or new rights substituted
therefor (such honored, assumed or substituted award hereinafter called an “Alternative Award”), by a Participant’s employer (or the parent or an affiliate of such employer) immediately following the Change of Control; provided
that any such Alternative Award must: 
 (i) be based on stock which is traded on an established securities market; 
 (ii) provide such Participant with rights and entitlements substantially equivalent to or better than the rights, terms and conditions applicable under
such award, including, but not limited to, an identical or better exercise or vesting schedule and identical or better timing and methods of payment; 
 (iii) have substantially equivalent economic value to such award (determined at the time of the Change in Control in accordance with principles applicable under Section 424 of the Internal Revenue Code); and

 (iv) have terms and conditions which provide that in the event that the Participant’s employment or service is involuntarily
terminated for any reason (including, but not limited to a termination due to death, Disability or for Cause) or Constructively Terminated (as defined below), all of such Participant’s Option and/or SARs shall be deemed immediately and fully
exercisable, the Restricted Period shall lapse as to each of the Participant’s outstanding Restricted Stock or Restricted Unit awards, and each such Alternative Award shall be settled for a payment per each share of stock subject to the
Alternative Award in cash, in immediately transferable, publicly traded securities or in a combination thereof, in an amount equal to, in the case of an Option or SAR, the excess of the Fair Market Value of such stock on the date of the
Participant’s termination over the corresponding exercise or base price per share and, in the case of any Restricted Stock or Restricted Stock Unit award, the Fair Market Value of the number of shares of Common Stock subject or related thereto.

 For this purpose, a Participant’s employment or service shall be deemed to have been Constructively Terminated if, without the Participant’s
written consent, the Participant terminates employment or service within 120 days following either (x) a material reduction in the Participant’s base salary or a Participant’s incentive compensation opportunity, or
(y) the relocation of the Participant’s principal place of employment or service to a location more than 30 miles away from the Participant’s prior principal place of employment or service. 
  

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 10.3 Annual Incentive and Long-Term Incentive Awards. In the event of a Change of Control,
(i) any Annual or Long-Term Incentive Awards relating to Performance Cycles ending prior to the Change of Control which have been earned but not paid shall become immediately payable in cash, (ii) any Performance Cycle for which Annual
Incentive Awards are outstanding shall end, all Participants shall be deemed to have achieved a pro rata award equal to the product of (a) such Participant’s target award opportunity for the Performance Cycle in question and (b) a
fraction, the numerator of which is the number of full plus partial months that have elapsed since the beginning of such Performance Cycle to the date on which the Change of Control occurs and the denominator of which is twelve, the Company shall
pay all such Annual Incentive Awards within ten days of such Change of Control, and Participants may elect to receive all payments in cash, and (iii) all then in progress Performance Cycles for Long-Term Incentive Awards are outstanding shall
end, all Participants shall be deemed to have earned a pro rata award equal to the product of (a) such Participant’s target award opportunity for the Performance Cycle in question and (b) a fraction, the numerator of which is the
number of full plus partial months that have elapsed since the beginning of such Performance Cycle to the date on which the Change of Control occurs, the denominator of which is the total number of months in such Performance Cycle, the Company shall
pay all such Long-Term Incentive Awards within ten days of such Change of Control, and Participants may elect to receive all such payments in cash. 
 10.4 Termination of Employment Prior to Change of Control. In the event that any Change of Control occurs as a result of any transaction described in subclause (iii) or (iv) of the definition of such term, any Participant
whose employment is terminated due to death or Disability or by the Company for any reason other than Cause on or after the date, if any, on which the shareholders of the Company approve such transaction, but prior to the consummation thereof, shall
be treated, solely for purposes of this Plan (including, without limitation, this Section 10), as continuing in the Company’s employment until the occurrence of such Change of Control, and to have been terminated immediately thereafter.

 10.5 No Amendment. Notwithstanding Section 11, the provisions of this Section 10 may not be amended in any respect for
two years following a Change of Control. 
  

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 10.6 Distribution of Amounts Subject to Section 409A. Notwithstanding anything in the Plan to
the contrary, if any amount that is subject to Section 409A of the Code is to be paid or distributed solely on account of a Change of Control (as opposed to being paid or distributed on account of termination of employment or within a
reasonable time following the lapse of any substantial risk of forfeiture with respect to the corresponding Incentive Award), solely for purposes of determining whether such distribution or payment shall be made in connection with a Change of
Control, the term Change of Control shall be deemed to be defined in the manner provided in Section 409A of the Code and the regulations thereunder. If any such distribution or payment cannot be made because an event that constitutes a Change
of Control under the Plan is not a change of control as defined under Section 409A, then such distribution or payment shall be distributed or paid at the next event, occurrence or date at which such distribution or payment could be made in
compliance with the requirements of Section 409A of the Code. 
 SECTION 11 
 AMENDMENT, MODIFICATION, AND TERMINATION OF PLAN 
 Subject to Section 10.5, the
Board may at any time terminate or suspend the Plan, and from time to time may amend or modify the Plan. Notwithstanding the foregoing, no action of the Board may, without the consent of a Participant, alter or impair his or her rights under any
previously granted Incentive Award. 
 SECTION 12 
 MISCELLANEOUS PROVISIONS 
 12.1 Transferability of Awards. No Incentive Award granted under the Plan
may be sold, transferred, pledged or assigned, or otherwise alienated or hypothecated, other than in accordance with Section 12.2 below, by will or by laws of descent and distribution; provided that, the Committee may, in the appropriate award
grant or otherwise, permit transfers of Non-Statutory Stock Options, Stock Appreciation Rights, Restricted Units or Restricted Shares to Family Members (including, without limitation, transfers affected by a domestic relations order) subject to such
terms and conditions as the Committee shall determine. 
 12.2 Beneficiary Designation. Each Participant under the Plan may from time
to time name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under the Plan is to be paid or by whom any right under the Plan is to be exercised in case of his death. Each designation will revoke
all prior designations by the same 

  

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Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant in writing with the Committee during
his lifetime. In the absence of any such designation, benefits remaining unpaid or Incentive Awards outstanding at the Participant’s death shall be paid to or exercised by the Participant’s surviving spouse, if any, or otherwise to or by
his estate. 
 12.3 No Guarantee of Employment. Nothing in the Plan shall interfere with or limit in any way the right of the Company
or any Subsidiary to terminate any Participant’s employment at any time, nor confer upon any Participant any right to continue in the employ of the Company or any Subsidiary or affiliate. 
 12.4 Tax Withholding. The Company or any Subsidiary shall have the power to withhold, or require a Participant to remit to the Company or such
Subsidiary promptly upon notification of the amount due, an amount, which may include shares of Common Stock, sufficient to satisfy Federal, state and local, including foreign, withholding tax requirements with respect to any Incentive Award
(including payments made pursuant to Section 9), and the Company may defer payment of cash or issuance or delivery of Common Stock until such requirements are satisfied. The Committee may, in its discretion, permit a Participant to elect,
subject to such conditions as the Committee shall impose (i) to have Common Stock otherwise issuable or deliverable under the Plan withheld by the Company or (ii) to deliver to the Company previously acquired shares of Common
Stock, in each case, having a Fair Market Value sufficient to satisfy not more than the Participant’s statutory minimum Federal, state and local tax obligations associated with the transaction. 
 12.5 Indemnification. Each person who is or shall have been a member of the Committee or of the Board shall be indemnified and held harmless by
the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him in connection with or resulting from any claim, action, suit, or proceeding to which he may be made a party or in which he may
be involved by reason of any action taken or failure to act under the Plan, provided he shall give the Company an opportunity, at its own expense, to handle and defend the same before he undertakes to handle and defend it on his own behalf. The
foregoing right of indemnification shall not be exclusive and shall be independent of any other rights of indemnification to which such persons may be entitled under the Company’s Articles of Incorporation or By-laws, by contract, as a matter
of law, or otherwise. 
  

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 12.6 No Limitation on Compensation. Nothing in the Plan shall be construed to limit the right of
the Company to establish other plans or to pay compensation to its employees in cash or property, in a manner which is not expressly authorized under the Plan. 
 12.7 Requirements of Law. The granting of Incentive Awards and the issuance of shares of Common Stock shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental
agencies or national securities exchanges as may be required. 
 12.8 Governing Law. The Plan, and all Incentive Awards made and
actions taken thereunder, shall be construed in accordance with and governed by the laws of the State of Delaware. 
 12.9 Impact On
Benefits. With the exception of Annual Incentive Awards, which shall be compensation for purposes of calculating a Participant’s rights under the Company’s employee benefit programs, Incentive Awards granted under the Plan are not
compensation for purposes of calculating an Employee’s rights under any employee benefit program. 
 12.10 Securities Law
Compliance. Instruments evidencing Incentive Awards may contain such other provisions, not inconsistent with the Plan, as the Committee deems advisable, including a requirement that the Participant represent to the Company in writing, when an
Incentive Award is granted or when he receives shares with respect to such Incentive Award (or at such other time as the Committee deems appropriate) that he is accepting such Incentive Award, or receiving or acquiring such shares (unless they are
then covered by a Securities Act of 1933 registration statement), for his own account for investment only and with no present intention to transfer, sell or otherwise dispose of such shares except such disposition by a legal representative as shall
be required by will or the laws of any jurisdiction in winding up the estate of the Participant. Such shares shall be transferable, or may be sold or otherwise disposed of only if the proposed transfer, sale or other disposition shall be permissible
pursuant to the Plan and if, in the opinion of counsel satisfactory to the Company, such transfer, sale or other disposition at such time will be in compliance with applicable securities laws. 
 12.11 Term of Plan. If approved by shareholders, the Plan shall be effective January 1, 2002. The Plan shall terminate on June 5, 2008
(except as to Incentive Awards outstanding on that date), unless sooner terminated pursuant to Section 11. 
  

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 IN WITNESS WHEREOF, the Company has caused this amendment and restatement to be executed by its duly
authorized representative as of July 1, 2009. 
  

			
	INGERSOLL-RAND PLC
		
	By:	 	/s/ Barbara A. Santoro
		 	Barbara A. Santoro
		 	Vice President & Secretary

  

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