Document:

Pentair Ltd. Compensation Plan for Non-Employee Directors, as amended

 Exhibit 10.13 
 PENTAIR LTD. 
 COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS

 As Amended and Restated 
 Through September 28, 2012 

 SECTION 1 
 BACKGROUND AND PURPOSE 
 1.1 Background. Effective as of
January 17, 1986, Pentair, Inc. adopted a Compensation Plan for Non-Employee Directors. The Plan has been amended and restated several times since its adoption, with the last such restatement made effective December 16, 2009. 

Notwithstanding anything to the contrary in the Plan, effective as of the consummation of the merger contemplated by the Merger
Agreement, dated as of March 27, 2012, by and among Pentair, Inc., Tyco International Ltd., Pentair Ltd. (formerly known as Tyco Flow Control International Ltd.), Panthro Acquisition Co. and Panthro Merger Sub, Inc. (the “Closing”),
no further deferrals or matching contributions may be made under the Plan with respect to compensation earned after the Closing, and all existing deferral elections in effect as of the Closing are cancelled with respect to compensation earned after
the Closing. 
 1.2 Purpose. Pentair has created this Plan to permit its non-employee directors to defer all or a
portion of their retainer and meeting fees, whether to be paid in the form of cash or Equity Awards, for future payment in shares of Pentair common stock, together with earnings on such deferred compensation as measured by changes in the value of
said stock. 

 SECTION 2 
 DEFINITIONS 
 Unless the context clearly requires otherwise, when
capitalized the terms listed below shall have the following meanings when used in this Section or other parts of the Plan: 

(a) “Account” is an account maintained under the Plan by the Plan Agent to record a Director’s Share Units.

 (b) “Administrator” is Pentair. 
 (c) “Board” is the Board of Directors of Pentair, as elected from time to time. 
 (d) “Change in Control” is any one of the following: 
  

	 	(i)	When a Person, or more than one Person acting as a group, acquires more than fifty percent (50%) of the total fair market value or total voting power of
Pentair’s stock; 

  

	 	(ii)	When a Person, or more than one Person acting as a group, acquires within a twelve (12) month consecutive period, ending with the date of the most recent stock
acquisition, stock of Pentair possessing at least thirty percent (30%) of the total voting power of Pentair’s stock; 

  

	 	(iii)	When a majority of the members of Pentair’s Board is replaced within a twelve (12) month period by directors whose appointment or election is not endorsed by
a majority of the members of such Board as constituted before such appointment or election; or 

  

	 	(iv)	When a Person, or more than one Person acting as a group, acquires within a twelve (12) month consecutive period assets from Pentair or an entity controlled by
Pentair that have a total gross fair market value equal to seventy-five percent (75%) of the total fair market value of the assets of Pentair and all such entities. 

 Once a Person or group acquires stock meeting the thresholds set forth in paragraphs (i) and (ii) immediately preceding, additional acquisitions of such stock by that Person or group shall be
ignored in determining whether another Change in Control has occurred. Asset transfers between or among controlled entities as determined before such transfers shall not be considered in applying paragraph (iv) immediately preceding.

  
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 (e) “Code” is the Internal Revenue Code of 1986, as amended. 

(f) “Deferred Compensation” is an amount of Fees, meeting attendance fees and Equity Awards, the payment of which a
Director has elected to receive at some future time pursuant to the terms of the Plan, together with any matching contributions made by Pentair with respect to Fees deferred. 
 (g) “Director” is a member of the Board who is neither simultaneously also an employee of Pentair or a related company, nor an individual rendering other services to Pentair or a related
company as an independent contractor. 
 (h) “Equity Awards” are awards granted to a Director under the Omnibus
Incentive Plan that are designated as eligible to be deferred under this Plan in the award letter or other document evidencing such award. 
 (i) “Fair Market Value” has the meaning ascribed in the Omnibus Incentive Plan. 
 (j) “Fees” are a Director’s annual Board and committee retainer and committee chair and lead director fees and other similar amounts, excluding meeting attendance fees, paid in cash
periodically by Pentair. 
 (k) “Omnibus Incentive Plan” is the Pentair, Inc. 2008 Omnibus Stock Incentive
Plan, or any successor thereto, as it may be amended from time to time. 
 (l) “Pentair” is (i) prior to
September 28, 2012, Pentair, Inc., a Minnesota corporation, or (ii) on and after September 28, 2012, Pentair Ltd., a Swiss company. 
 (m) “Person” is any individual, firm, partnership, corporation or other entity, including any successor (by merger or otherwise) of such entity, or a group of any of the foregoing acting
in concert. 
 (n) “Plan” is the Pentair Ltd. Compensation Plan for Non-Employee Directors as described in this
plan document, and as it may be amended from time to time thereafter. 
 (o) “Plan Agent” is the entity duly
appointed by Pentair to (i) receive funds resulting from a Director’s deferral of Fees, meeting attendance fees and cash-based Equity Awards, from Pentair matching contributions and from dividends declared on Stock; (ii) purchase
shares of Stock with such funds; and (iii) maintain Plan Accounts. 
 (p) “Share Unit” is a unit equal in
value to one share of Stock. 
 (q) “Stock” is (i) prior to September 28, 2012, Pentair, Inc. common
stock, par value $0.16-2/3 per share, or (ii) on and after September 28, 2012, registered shares of Pentair Ltd., nominal value CHF 0.50 per share, subject to any capital changes. 

(r) “Year” is the twelve (12) consecutive month period beginning January 1 and ending December 31.

  
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 SECTION 3 
 DEFERRAL OF FEES AND EQUITY AWARDS 
 3.1 Eligibility. Upon
becoming a member of the Board, a Director may elect to defer receipt of payment of some or all of the Fees paid, or Equity Awards granted, on account of service as a Director until such future time as the Director shall designate. A Director may
also make a deferral election with respect to meeting attendance fees. If a Director does not make a timely deferral election with respect to the Fees or meeting attendance fees payable for a Year, then all such amounts shall be paid in cash to the
Director. If a Director does not make a timely deferral election with respect to an Equity Award, then all such amounts shall be paid in the time and manner provided by such Equity Award. 

3.2 Deferral Election. (a) General Rule. Each Year a Director may elect to defer receipt of (i) a
designated dollar amount or percentage of Fees and meeting attendance fees, with any percentage designation being made in ten percent (10%) increments up to one hundred percent (100%) of such amounts, and (ii) a percentage of Equity
Awards, with any such percentage designation being made in ten percent (10%) increments up to one hundred percent (100%), and to receive such amount or percentage as Deferred Compensation. No election to receive Deferred Compensation shall be
valid unless entered into by the date prescribed by the Administrator. Generally, a deferral election must be made prior to the first day of the Year in which the amounts to be deferred are earned or the Equity Award is to be granted; but for
individuals who first become Directors during a Year, the deferral election for such first Year may be made no later than thirty (30) days following the date such individual’s Board service begins and shall apply to Fees, meeting
attendance fees and Equity Awards earned or granted after the date of such election. A deferral election is irrevocable with respect to the Year or the Equity Award for which such election is made. Once the time for making a timely election has
passed, a Director who did not timely make a deferral election for a Year or an Equity Award shall be deemed to have elected to not participate in the Plan. 
 Notwithstanding the foregoing, if an Equity Award is subject to a substantial risk of forfeiture, a Director may elect to defer that portion of the Equity Award that will vest at least twelve
(12) months after the date of the deferral election; provided that such deferral election must be made no later than the first thirty (30) days after the date such Equity Award is granted (or such earlier time as is prescribed by the
Administrator); and provided further that if the Equity Award actually vests prior to such twelve (12) month period by reason of the Director’s death, disability, or a Change in Control, then the deferral election shall be cancelled.

 The Administrator also may permit deferrals of Fees, meeting attendance fees and Equity Awards at such other times as are
permitted by Code section 409A. 
 (b) Former Director. A Director who was eligible to participate in the Plan, who loses
such eligibility by reason of ceasing to serve on the Board or otherwise, and who again becomes eligible to participate in the Plan, shall be able to again make an election to defer 

  
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payment of Fees, meeting attendance fees and Equity Awards as provided in Code section 409A. If the individual can instead qualify as a newly elected Director, then the election rule for such
Directors will apply. 
 3.3 Matching Contribution. Pentair shall make a matching contribution each month on
behalf of each Director who has elected to defer payment of some or all of the Fees otherwise payable in cash to the Director. Said matching contribution shall be equal to fifteen percent (15%) of such amount of the Fees as the Director shall
have elected to defer hereunder. 
 3.4 Accounting for Deferred Compensation. (a) The Administrator shall
cause the Plan Agent to establish an Account for each Director who elects to participate in the Plan. All Deferred Compensation shall be allocated to Accounts as Share Units. 
 (b) The Plan Agent shall purchase Stock on the open market with the Deferred Compensation funds received from Pentair. The Plan Agent shall make all such purchases over one (1) or more business days
each month, as agreed to by the Plan Agent and Pentair. All Stock so purchased shall be allocated to Accounts based on the average purchase price obtained over said monthly purchase period and held in a street name or a nominee name; no Director
shall have voting or other ownership rights with respect to any Stock acquired for purposes of the Plan. Stock purchased under the Plan by the Plan Agent shall be held by Pentair as an investment to assist Pentair in meeting its obligation to pay
Deferred Compensation to Directors. 
 (c) If a deferred Equity Award relates to shares or is valued in relation to the Fair
Market Value of a share, the Director’s Account shall be credited with a number of Shares Units equal to the number of shares or share-related Equity Awards so deferred. If a deferred Equity Award is valued in relation to cash (such as dividend
equivalents), such deferred cash amount shall be used to purchase Stock as provided in subsection (b). 
 (d) Share Units
allocated to Accounts shall be adjusted to reflect Stock dividends or splits or other similar adjustments. Cash dividends paid with respect to Stock purchased for purposes of the Plan shall be used to purchase Stock and allocated to Accounts as
Share Units. 
 (e) The portion of an Account attributable to a deferred Equity Award shall vest at the same time as the related
Equity Award vests. All other Deferred Compensation shall be immediately vested. Only vested Deferred Compensation shall be payable hereunder. 
 3.5 Time of Distribution of Deferred Compensation. (a) General. Except as otherwise provided for in the Plan, or as designated by the Director at the time a deferral election is
made, the Director shall receive his or her entire vested Account balance allocable to a Year within ninety (90) days of the first to occur of the Director’s (i) ceasing to be a member of the Board for any reason other than death,
(ii) death, or (iii) a Change in Control. For purposes hereof, a deferred Equity Award shall be allocable to the Account established for the Year in which the Equity Award is granted. 

  
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 (b) Specific Dates of Distribution. A Director may timely elect to receive
distribution of his or her entire vested Account balance allocable to a Year as of one specific future date or one objectively determinable future event date (e.g., a Director’s sixty-fifth (65th) birthday). Such an election, once finally
effective, cannot be changed by the Director. In the event of a Change in Control, a Director who has elected a specific future date or an objectively determinable future event date shall remain entitled to payment on such date, regardless of
whether a Change in Control shall first occur. In the event of the death of a Director prior to the date elected hereunder for a distribution, the entire vested Account balance shall be paid within ninety (90) days of the date of such
Director’s death. 
 (c) Distribution in Event of Death. In the event of a Director’s death, the vested
Deferred Compensation allocated to such Director’s Account will be distributed to the beneficiary designated by the Director, or (if there shall be no such beneficiary designated) to the person who would have a right to receive such
distribution by will or (if there shall be no will) by the laws of descent and distribution of the state in which the Director was domiciled at death. Such distribution shall be made in a single payment and, except as otherwise described herein, in
Stock. The Plan Agent shall deliver to the beneficiary a number of whole shares of Stock equal to the whole number of vested Share Units allocated to such Director’s Account. Any fractional Share Units allocated to such Director’s Account
shall be converted to cash using the then Fair Market Value, and the cash shall be delivered to the beneficiary. 
 A beneficiary designation
made by a Director shall remain in effect until such time as a Director files a new beneficiary designation with the Administrator. Prior to distribution, the Administrator will verify the identity of the Director’s named beneficiary and such
beneficiary will establish the right to receive distribution of any unpaid vested Deferred Compensation. 
 3.6 Form of
Distribution of Deferred Compensation. A Director’s vested Account shall be distributed in a single payment and, except as otherwise described herein, in Stock. The Stock so distributed shall be either (i) deposited into the
Director’s dividend reinvestment account, if any, in which case any fractional shares shall also be allocated to such account, or (ii) delivered directly to said Director, in which case the Plan Agent shall deliver a number of whole shares
of Stock equal to the whole number of Share Units allocated to such Director’s Account, and any fractional Share Units allocated to such Account shall be converted to cash using the then Fair Market Value, and the cash shall be delivered to the
Director. Shares delivered in payment of any deferred Equity Award shall be issued under the Omnibus Incentive Plan. 

  
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 SECTION 4 
 PLAN ADMINISTRATION 
 4.1 Reporting. The Plan Agent shall
periodically report the following information to Pentair: 
 (a) the total number of Share Units allocated to Accounts;

 (b) the total shares of Stock purchased by the Plan Agent since its last report; and 

(c) the number of shares of Stock into which Share Units then allocated to Accounts may be converted. 

4.2 Accounting. The Administrator and the Plan Agent shall assure that the following records are kept under the Plan for
each Year for each Director: 
 (a) whether the Director made an election to defer Fees, meeting attendance fees or Equity
Awards for the Year; 
 (b) the amount or percentage of Fees, meeting attendance fees or Equity Awards deferred; 

(c) the matching contribution made with respect to the Fees deferred; 

(d) the distribution election, if any, made by the Director; and 

(e) the Year in which the Fees and meeting attendance fees deferred were earned and the Year in which the Equity Awards were granted.

 4.3 Costs. Pentair shall pay all commissions, service charges or other costs incurred with respect to the
purchase of Stock for purposes of the Plan. When any such Stock is sold, the Director is responsible for payment of any commissions, service charges or other costs incurred on account of such sale. 

  
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 SECTION 5 
 MISCELLANEOUS 
 5.1 Term of Plan. This restated Plan shall be
effective December 16, 2009, and shall remain in effect until April 30, 2014, which represents the end of the ten (10) year term approved by shareholders effective as of May 1, 2004, unless earlier terminated by the Board.

 5.2 Board Tenure. The fact that a Director has elected to participate in the Plan shall not affect or qualify
the right of the Board or of Pentair shareholders to remove such individual from the Board, consistent with the provisions of the Pentair Articles of Incorporation or By-Laws, or applicable provisions of Minnesota law. 

5.3 Code Section 409A. The Plan shall be administered in a manner consistent with Code section 409A and Treasury
Regulations thereunder. Any permissible discretion to accelerate or defer a Plan distribution under such Regulations, the power to exercise which is not otherwise described expressly in the Plan, shall be exercised solely by the Administrator. The
distribution provisions of Section 3.6 are subject to exceptions or overrides in the discretion of the Administrator or its delegate, but not in the discretion of the Director concerned, as otherwise provided in the Plan or as allowed under
Code section 409A and Treasury Regulations thereunder. 
 5.4 Delegation. To the extent permitted under Minnesota
law, the Administrator or the Board may delegate to officers of Pentair any or all of their duties, power and authority under the Plan, subject to such conditions or limitations as the Administrator or the Board, as applicable, may establish.
Notwithstanding the prior sentence, the Board may not delegate the power to amend or terminate the Plan. 
 5.5
Funding. The Plan is a non-qualified, unfunded and unsecured deferred compensation arrangement. Pentair shall not establish, nor is it required to establish, a trust to fund benefits provided to Directors hereunder, or to earmark or
segregate assets to provide for such benefits. In the event of default of payment hereunder by Pentair, the Directors shall have no greater entitlements or security than does an unsecured general creditor of Pentair. 

5.6 Nonalienability. Except as otherwise expressly provided herein or as otherwise required by law, no right or interest of
any Director or the beneficiary named by a Director under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, attachment, garnishment, execution, levy, bankruptcy or any other
disposition of any kind, either 

  
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voluntarily or involuntarily, prior to actual receipt of payment by the person entitled to such right or interest under the provisions hereof, and any such disposition or attempted disposition
shall be void. 
 5.7 Facility of Payment. If the Administrator shall determine a Director or a Director’s
named beneficiary entitled to a distribution hereunder is incapable of caring for his or her own affairs because of illness or otherwise, it may direct any distribution from such Director’s Account be made, in such amounts as it shall
determine, to the spouse, child, parent or other blood relative of such Director or beneficiary, or any of them, or to such other person or persons as the Administrator may determine, until such date as the Administrator shall determine such
incapacity no longer exists; provided, however, the exercise of this discretion shall not cause an acceleration or delay in the time of distribution of Plan benefits except to the extent, and only for the duration of, the time reasonably necessary
to resolve such matters or otherwise protect the interests of the Plan. The Administrator shall be under no obligation to see to the proper application of the distributions so made to such person or persons and any such distribution shall be a
complete discharge of any liability under the Plan to such Director or beneficiary, to the extent of such distribution. 

5.8 Default. In the event Pentair shall fail to pay when due any Deferred Compensation, and such failure to pay continues
for a period of thirty (30) days from receipt of written notice of nonpayment from the affected Director, Pentair shall be in default hereunder and shall reimburse the Director for expenses incurred in the collection of such amount, including
reasonable attorneys’ fees. Pursuant to applicable provisions of Code section 409A, any such reimbursement must be paid to the affected Director not later than the end of the year following the year in which such expenses are incurred. Failure
to timely submit a claim for reimbursement of any such expenses shall result in the forfeiture of the claim. 
 5.9
Amendment or Termination. The Plan may be amended or terminated at any time by the Board; provided that the rights of Directors or former Directors accrued under the Plan through the date of such amendment or termination shall not be
affected by such action without the express written consent of those individuals. Nothing herein shall be construed to prevent any modification, alteration or amendment of the Plan which is required to comply with the provision of any applicable law
or regulations relating to the establishment or maintenance of this Plan. 
 5.10 Federal Securities and Other
Laws. Notwithstanding anything in the Plan to the contrary, and to the extent and for the time reasonably necessary to comply with federal securities laws (or other applicable laws or regulations), distribution dates under the Plan may be
suspended, changed or delayed as necessary to comply with such laws or regulations; provided, however, any distributions so delayed shall be paid to the Director, or a beneficiary named by a Director, as of the earliest date the Administrator
determines such distribution will not cause a violation of any laws or regulations. 

  
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 5.11 Applicable Law. To the extent not preempted by applicable federal law,
the Plan shall be interpreted and construed in accordance with the substantive laws of the State of Minnesota, but without regard to any choice or conflict of laws provisions thereof. 

5.12 Construction. The Administrator shall have full power and authority to interpret and construe any provision of the
Plan, to adopt rules and regulations not inconsistent with the Plan for purposes of administering the Plan with respect to matters not specifically covered in the Plan document and to amend and revoke any rules and regulations so adopted. Except as
otherwise provided in the Plan, any interpretation of the Plan and any decision on any matter within the discretion of the Administrator which is made in good faith by the Administrator shall be final and binding. 

5.13 Indemnification. To the extent permitted by law, members of the Board shall be indemnified and held harmless by
Pentair with respect to any loss, cost, liability or expense that may reasonably be incurred in connection with any claim, action, suit or proceeding which may arise by reason of any act or omission under the Plan which is taken within the scope of
the Plan. Such indemnification shall cover any and all reasonable attorneys’ fees and expenses, judgments, fines and amounts paid on settlement, but only to the extent such amounts are (i) actually and reasonably incurred, (ii) not
otherwise paid or reimbursable under an applicable Pentair paid insurance policy, and (iii) not duplicative of other payments made or reimbursements due under other indemnity agreements. In no event shall this Section 5.13 be construed to
require Pentair to indemnify third parties with whom it may contract to perform administrative duties with respect to the Plan. 

5.14 Tax Withholdings and Consequences. (a) Tax Withholdings. Benefits earned under the Plan and payment
of such benefits shall be subject to tax reporting and withholding as required by law. The amount of such withholding may be determined by treating such benefits as being paid in the nature of supplemental wages. 

(b) Tax Consequences. Pentair does not represent or guarantee that any particular federal, foreign, state or local income, payroll
or other tax consequence will result from participation in this Plan or payment of benefits under the Plan. 
 5.15
Savings Clause. If any term, covenant or condition of this Plan, or the application thereof to any person or circumstance, shall to any extent be held to be invalid or unenforceable, the remainder of this Plan, or the application of any
such term, covenant or condition to persons or circumstances other than those as to which it has been held to be invalid or unenforceable, shall not be affected thereby, and, except to the extent of any such invalidity or unenforceability, this Plan
and each term, covenant and condition hereof shall be valid and shall be enforced to the fullest extent permitted by law. 

  
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 5.16 Interpretation. Section and subsection headings are for convenience of
reference and not part of this Plan, and shall not influence its interpretation. Whenever any words are used in the Plan in the singular, masculine, feminine or neuter form, they shall be construed as though they were also used in the plural,
feminine, masculine or non-neuter form, respectively, in all cases where such interpretation is reasonable. 
 5.17
Communications. Pentair or the Plan Agent may, unless otherwise prescribed by any applicable state or federal law or regulation, provide the Plan’s prospectus, and any notices, forms or reports by using either paper or electronic
means. 

  
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 SECTION 6 
 TRANSITIONAL RULES 
 6.1 Introduction. This Plan document
became effective on December 16, 2009 (i.e., the “effective date”) and, except as otherwise provided herein, applies to only those Directors who are eligible to actively participate in the Plan on or after the effective date and to
only such Fees, meeting attendance fees and Equity Awards as are earned or granted on or after the effective date. The provisions of the Plan document as in effect prior to the effective date shall continue to govern the rights and entitlements of
persons and Fees and meeting attendance fees not described in the immediately preceding sentence except to the extent application of this Plan document does not materially diminish or enlarge such rights and entitlements. 

6.2 Grandfathered Deferred Compensation. (a) Equity Grants. The Plan as in effect prior to January 1, 2008
(i.e., the “prior plan”) provided for grants of Equity Compensation, as such term was defined in the prior plan. No such grants have been made to Directors since 2002, meaning all Equity Compensation which was payable under applicable
provisions of the prior plan are grandfathered amounts and are not subject to the provisions of Code section 409A. 
 (b)
Deferred Compensation. All Fees and meeting attendance fees earned prior to January 1, 2005 and subject to an election to defer payment made by a Director under applicable provisions of the prior plan are grandfathered amounts and are
not subject to the provisions of Code section 409A. Any Fees and meeting attendance fees earned on or after January 1, 2005 with respect to which an election to defer payment has been made shall be subject to applicable provisions of Code
section 409A. Since January 1, 2005, the prior plan was operated in accordance with applicable provisions of Code section 409A, which provisions are reflected in the Plan. Therefore, the Plan shall govern elections to defer Fees and meeting
attendance fees made on or after January 1, 2005, even though the Plan does not so retroactively amend the prior plan. 

6.3 Separate Accounting. For purposes of tracking Deferred Compensation which is treated as grandfathered for purposes of
Code section 409A, the Administrator and the Plan Agent shall assure that records as defined in Section 4.2 are kept in a manner as will clearly differentiate between Fees and meeting attendance fees earned and deferred prior to January 1,
2005, and Fees, meeting attendance fees and Equity Awards earned or granted, and deferred, on or after January 1, 2005. 

  
 12Pentair Ltd. Employee Stock Purchase and Bonus Plan

 Exhibit 10.14 
 PENTAIR LTD. 
 EMPLOYEE STOCK PURCHASE AND BONUS PLAN 

Effective September 28, 2012 
 SECTION 1 
 HISTORY AND BACKGROUND 

Pentair, Inc. (“Old Pentair”) adopted, effective March 1, 1977, the Pentair, Inc. Employee Stock Purchase and Bonus Plan
the (“Pre-Merger ESPP”) and, effective August 31, 1998, the Pentair, Inc. International Stock Purchase and Bonus Plan (the “Pre-Merger International ESPP”). The shareholders of Old Pentair approved amended and restated
versions of the Pre-Merger ESPP and the Pre-Merger International ESPP that became effective on May 1, 2004. Old Pentair adopted (1) the Pre-Merger ESPP to provide to U.S. employees of Old Pentair and the members of its controlled group of
companies an opportunity to purchase, as a long-term investment, shares of Old Pentair common stock, and (2) the Pre-Merger International ESPP to afford the employees of its international branches and subsidiaries a convenient and
cost-effective means for the regular and systematic purchase of Old Pentair common stock on terms substantially comparable to those available to Old Pentair U.S. employees. 
 In connection with the merger of Old Pentair with and into a wholly-owned subsidiary of Tyco Flow Control International Ltd. (to be renamed Pentair Ltd., and referred to herein as the
“Company”), which is expected to occur on or about September 28, 2012 (the “Merger”), the Company is adopting this Pentair Ltd. Employee Stock Purchase and Bonus Plan (the “Plan”) to provide to employees of the
Company and its designated divisions and subsidiaries the opportunity to purchase shares of the Company’s common stock after the Merger. The Plan shall become effective only upon the date the Merger is consummated (the “Commencement
Date”). The Plan is also considered a successor to the Pre-Merger ESPP and Pre-Merger International ESPP for all purposes, including satisfying the purchase obligations under those plans for the quarter ending September 30, 2012.

 The following sections of the Plan (other than Appendix A) shall apply to the U.S. employees of the Company and its
participating divisions and subsidiaries. The terms and conditions set forth in Appendix A shall apply exclusively to the non-U.S. employees of the Company’s participating international branches and subsidiaries. 

SECTION 2 

DEFINITIONS 
 Unless the context clearly requires otherwise, when capitalized the terms listed below shall have the following meanings when used in this Section or other parts of the Plan. 

(1) “Account” is an account maintained under the Plan by the Plan Agent to record the amount withheld from each
Participant’s Compensation or contributed directly by a Participant for the purpose of purchasing Stock, the amount of Company matching contributions made on behalf of a Participant, cash dividends paid with respect to such Stock, and the
number of shares of Stock held on behalf of each Participant under the Plan. 

 (2) “Affiliated Company” is (a) any corporation or business located in
and organized under the laws of one of the United States which is a member of a controlled group of corporations or businesses (within the meaning of Code section 414(b) or (c)) that includes the Company, but only during the periods such affiliation
exists, or (b) any other entity in which the Company may have a significant ownership interest, and which the Plan Administrator determines shall be an Affiliated Company for purposes of the Plan. 

(3) “Code” is the Internal Revenue Code of 1986, as amended. 

(4) “Company” is Pentair Ltd., a Swiss company. 

(5) “Compensation” is a Participant’s base wages or salary (i.e., exclusive of overtime or bonus payments), or the
equivalent thereof, paid to or on behalf of a Participant for services rendered to the Company or a Participating Employer. 

(6) “Eligible Employee” is an Employee, except those Employees: 

(i) who are included in a unit of Employees covered by a collective bargaining agreement between Employee representatives
and a Participating Employer, unless and to the extent such agreement provides that such Employees shall be covered by the Plan, or the Participating Employer and the Plan Administrator have otherwise agreed to extend coverage under the Plan to such
Employees; 
 (ii) who are covered under Appendix A; 

(iii) whose Employer is not a Participating Employer; or 

(iv) who are not treated as Employees by the Company or a Participating Employer for purposes of the Plan even though
they may be so treated or considered under applicable law, including Code section 414(n), the Federal Insurance Contribution Act or the Fair Labor Standards Act (e.g., individuals treated as employees of a third party or as self-employed).

 (7) “Employee” is an individual who is an employee of the Company or an Affiliated Company. 

(8) “Participant” is an Eligible Employee who has met the age and service requirements for Plan participation and
completed the authorization form necessary for participation. 
 (9) “Participating Employer” is an Affiliated
Company which is making, or has agreed to make, contributions under the Plan with respect to some or all of its Employees, but only during the period such agreement to contribute remains in effect. The Company must approve each Participating
Employer, except that any entity that is considered a Participating Employer under the Pre-Merger ESPP automatically shall be considered a Participating Employer hereunder on the Commencement Date without further action by the Company or such
employer. 

  
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 (10) “Plan” is the Pentair Ltd. Employee Stock Purchase and Bonus Plan as
described in this plan document effective September 28, 2012, and as it may be amended from time to time thereafter. 

(11) “Plan Administrator” is the Company, and may include an employee or committee of employees of the Company or any
subsidiary thereof that has been appointed by the Company to serve as the plan administrator of the Plan. 
 (12) “Plan
Agent” is the entity duly appointed by the Company to receive funds contributed by Participants and Participating Employers, to purchase shares of Stock with such funds, and to maintain Participant Accounts. 

(13) “Prospectus” is the prospectus, as in effect from and after September 28, 2012, which describes the Plan and
which is delivered to eligible Participants with respect to the purchase of Stock under the Plan. 
 (14)
“Stock” is the registered shares of the Company, nominal value CHF 0.50 per share, subject to any capital changes. 
 SECTION 3 
 ELIGIBILITY 

3.1 General. All Eligible Employees of a Participating Employer may elect to participate in the Plan after the Commencement
Date upon the attainment of age eighteen (18) and the completion of twelve (12) consecutive months of employment with the Company or an Affiliated Company, measured from such individual’s original date of hire. Notwithstanding the
foregoing, all Participants in the Pre-Merger ESPP as of the date immediately preceding the Commencement Date automatically shall be considered Participants hereunder on the Commencement Date without further action by such individuals. 

3.2 Determining Credit for Completed Service. 
 (a) Eligible Employee Who Leaves Employment. In the event an Employee who has completed the twelve (12) consecutive months of service necessary to elect to participate in the Plan leaves
employment with the Company and all Affiliated Companies and is subsequently rehired, credit for such completed service shall not be lost, regardless of the length of time between the date such employment ends and the individual’s rehire date.

 (b) Leaving Employment Before Eligible. An Employee who leaves employment with the Company and all Affiliated
Companies prior to the completion of twelve (12) consecutive months of service and is subsequently rehired shall not receive credit for any service completed prior to the time such first term of employment ended. 

(c) Collectively Bargained Employees. In those cases where a group of Employees who are covered by a collective bargaining
agreement becomes eligible to participate in the Plan pursuant to the terms of such agreement then, unless the agreement provides otherwise, such Employees shall be given credit for service completed prior to the effective date of such agreement for
purposes of determining eligibility to elect to participate in the Plan. 

  
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 (d) Newly Acquired Groups. In those cases where a company, partnership, joint venture
or other entity becomes an Affiliated Company, the Plan Administrator may, but shall not be required to, give credit to the Employees of such organization for service completed with their employer prior to the date such employer becomes an
Affiliated Company. 
 SECTION 4 
 PARTICIPATION 
 4.1 General. Plan participation is voluntary
and Eligible Employees do not automatically become Participants upon meeting the Plan’s eligibility requirements, except as set forth in Section 3.1. An Eligible Employee who has met the Plan’s eligibility requirements, as described
in Section 3, may commence Plan participation after the Commencement Date by delivering to the Human Resources Department of the Company or a Participating Employer an authorization for deductions from such individual’s Compensation, if
the individual intends to make contributions through payroll deductions. Notwithstanding the foregoing, the deduction authorization in effect for each Participant in the Pre-Merger ESPP as of the Commencement Date automatically shall be given effect
hereunder on and after the Commencement Date. 
 4.2 Withdrawal from Participation. A Participant may elect to
cease participation under the Plan at any time, even though he or she remains an Eligible Employee of the Company or a Participating Employer, by giving written notice to his or her employer. Such an individual may not elect to again participate in
the Plan until the calendar year following the calendar year in which he or she withdraws from participation. 
 SECTION 5

 CONTRIBUTIONS 
 5.1 Participant Contributions. Participants may make contributions under the Plan for purposes of purchasing Stock by using either or both of the methods described below. All such
contributions must be made in cash or a cash equivalent. 
 (a) Payroll Deductions. A Participant may authorize his or
her employer to make a deduction from each paycheck for purposes of purchasing Stock. The minimum deduction allowed is $10.00 per month; the maximum deduction allowed is the lesser of $750 per month and 15% of such Participant’s Compensation. A
Participant may change the amount of his or her payroll deduction at any time, but not more than once in any calendar year. 

(b) Additional Contributions. A Participant may also purchase Stock by making an additional cash contribution. Any such
contribution shall not be made by payroll deduction but shall be paid by the Participant directly to the Plan Agent. These contributions, if any, must be made at least quarterly, and the total quarterly contribution cannot exceed $3,000. 

5.2 Employer Bonus Contribution. Each month the Company and Participating Employers shall pay to the Plan Agent on behalf
of each Participant employed by such employer an amount equal to twenty-five percent (25%) of the contributions made by Participants through payroll deductions from Compensation. No such bonus contribution shall be made by the Company or any
Participating Employer with respect to any additional cash contributions made directly by Participants. 

  
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 5.3 Dividends. Cash dividends paid on Stock held in a Participant’s
Account shall be used by the Plan Agent to purchase additional shares of Stock on behalf of such Participant. Stock dividends declared by the Company shall be allocated to Accounts. 

5.4 Mandatory Suspension. To the extent required under applicable United States Treasury Regulations, a Participant who
receives a hardship withdrawal pursuant to the provisions of the Pentair, Inc. Retirement Savings and Stock Incentive Plan or such other retirement plan in which such Participant participates shall be required to cease contributions of any kind to
the Plan for a minimum of six (6) months from the date such hardship distribution is received. 
 SECTION 6

 PURCHASE OF STOCK 
 6.1 Participant Accounts. The Plan Agent shall establish for each Participant an Account to hold the Stock purchased on behalf of such Participant. All Stock and other amounts allocated to
such Account shall at all times be fully vested and nonforfeitable. 
 6.2 Purchasing Stock. The Plan Agent shall
use all Participant and employer contributions, regardless of type and including cash dividends, to purchase Stock on the open market. The Plan Agent shall make all such purchases over a number of business days each month as are agreed to by the
Plan Agent and the Company. All Stock so purchased shall be allocated to the Accounts of Participants on behalf of whom purchases were made based on the average purchase price obtained over said monthly purchase period. No interest shall be paid on
any cash amounts held by the Plan Agent regardless of whether such cash is being held in anticipation of the date on which Stock purchases shall be made or held pending a refund to a terminating Participant. 

SECTION 7 

ENDING PARTICIPATION 
 7.1 General. A Participant may elect to discontinue Plan participation even though he or she remains an Eligible Employee of the Company or a Participating Employer. In addition, a
Participant may cease Plan participation by reason of becoming an Employee of an Affiliated Company which is not a Participating Employer, by joining a group of Employees who are not Eligible Employees, or by qualifying for benefits under a
long-term disability plan maintained by the Company or a Participating Employer. At such time as a Participant shall cease employment with the Company and all Affiliated Companies, Plan participation shall cease and the individual may elect the
manner in which his or her Account shall be distributed. 
 7.2 Discontinuing Participation. An individual may
elect at any time to cease making contributions under the Plan, even though he or she remains an Eligible Employee of the Company or a Participating Employer. In addition, an individual who begins receiving long-term disability benefits shall cease
making contributions under the Plan. Such individuals may, but are not required to, request a full or partial cash or Stock disposition from their Accounts. 

  
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 7.3 Ceasing to be an Eligible Employee. Participants who cease to be Eligible
Employees but remain Employees of the Company or an Affiliated Company may, but are not required to, request a full or partial cash or stock disposition from their Accounts. 
 7.4 Termination of Employment. Participants who cease to be Employees of the Company or any Affiliated Company shall receive a distribution from their Accounts as described in
Section 8. 
 7.5 Death of Participant. In the event of the death of a Participant, such individual’s
Account shall be distributed as described in Section 8. 
 SECTION 8 

DISPOSITION OF ACCOUNTS 
 8.1 Termination of Participation. At such time as a Participant shall cease to participate in the Plan due to a termination of employment with the Company and all Affiliated Companies, the
Human Resources Department of such individual’s employer shall provide to the individual a notice of Account distribution options and a form whereby the individual can provide to the Plan Agent instructions as to the disposition of his or her
Account. A Participant may elect to receive whole shares of Stock, plus cash in lieu of fractional shares, or cash only. 
 (a)
Stock Election. If a terminating Participant elects to receive a Stock distribution, the Plan Agent shall deliver to such Participant the number of whole shares of Stock allocated to such Participant’s Account. Any fractional shares of
Stock being distributed shall be sold at the Stock’s then current market price and the proceeds of such sale, reduced by any costs associated with such sale, including brokerage fees due to the Plan Agent or any other party, shall be sent to
the Participant. Generally, all distributions shall be completed after all Stock purchases relevant to such Account have been made. 
 (b) Cash Election. If a terminating Participant elects to receive cash, the Plan Agent shall sell all whole and fractional shares of Stock allocated to such Participant’s Account. All such
Stock shall be sold at the then current market price and the proceeds of such sale, reduced by any costs associated with such sale, including brokerage fees due to the Plan Agent or any other party, shall be sent to the Participant. Generally, all
sales shall be completed after all Stock purchases relevant to such Account have been made. 
 (c) Default Provision. If
a terminating Participant does not make a distribution election within thirty (30) days of the date the Human Resources Department provides the notice described in Section 8.1, the Plan Agent shall proceed as if such Participant had
elected a Stock distribution. 
 8.2 Death of Participant. In the event of the death of a Participant, the legal
representative or administrator of such Participant’s estate shall be entitled to elect between a Stock or cash distribution, made at the times and in the manner described in Section 8.1, and shall be subject to the same default
distribution rules as a Participant. All distributions, regardless of form, shall be paid as directed by the Participant’s legal representative or administrator, or paid to the Participant’s estate if no such direction is provided. To the
extent the Plan Administrator determines that Participant Accounts may be held in joint tenancy with right of survivorship or adds to the Plan a provision permitting transfer on death designation, then the Stock held in the Account of a deceased
Participant shall be distributed according to any such designation duly made by the Participant. 

  
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 8.3 Withdrawal from Accounts. 

(a) In-service Distribution. Withdrawals from Accounts are available to Participants who (i) remain Eligible Employees but
cease making contributions under the Plan; (ii) are no longer Eligible Employees but remain Employees of the Company or an Affiliated Company; or (iii) are currently Participants. Such a withdrawal may be made in either cash or shares of
Stock. 
 (b) Stock Election. If a Participant described in Section 8.3(a) wishes to receive shares of Stock, then
he or she shall specify the number of whole shares of Stock to be distributed, if the request is for a distribution of less than the entire Account balance. If the request is for withdrawal of the entire Account balance, any fractional shares of
Stock held in such Account shall be sold at the Stock’s then current market price and the proceeds of such sale, reduced by any costs associated with such sale, including brokerage fees due to the Plan Agent or any other party, shall be sent to
the Participant. Generally, all such distributions shall be completed after all Stock purchases relevant to such Account have been made. 
 (c) Cash Election. If a Participant described in Section 8.3(a) wishes to receive cash, the Plan Agent shall sell all whole and fractional shares of Stock allocated to such Participant’s
Account or, if less than the entire Account, such number of shares of Stock as the Participant shall specify. All such Stock shall be sold at the then current market price and the proceeds of such sale, reduced by any costs associated with such
sale, including brokerage fees due to the Plan Agent or any other party, shall be sent to the Participant. Generally, all sales shall be completed after all Stock purchases relevant to such Account have been made. 

(d) Premature Withdrawal of Shares. If a Participant who has neither left employment with the Company and all Affiliated Companies
nor otherwise ceased to participate under the Plan requests that the Plan Agent sell some or all of the Stock acquired for his or her Account with amounts contributed by payroll deductions from Compensation within twelve (12) months after such
Stock is purchased, the Participant’s employer may cease to make bonus contributions for the benefit of such Participant for twelve (12) months following the date of such premature sale. 

SECTION 9 

ADMINISTRATION 
 9.1 Term of Plan. Contingent upon the consummation of the Merger, this Plan shall be effective September 28, 2012, or such other date as the Merger is consummated, and shall remain in
effect for a period of ten (10) years after such effective date, unless the Plan is earlier terminated as provided in Section 10.6. 
 9.2 Prospectus. Upon completing the eligibility requirements described in Section 3, an Eligible Employee shall receive from the Human Resources Department of the Company or his or her
Participating Employer a copy of the Prospectus which describes the Plan. 

  
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 9.3 Reporting. The Plan Agent shall provide to each Participant quarterly, or
at such other intervals as may be necessary or appropriate, the following information: 
 (a) the total amount contributed to
each Participant’s Account for such quarter, whether by payroll deduction, lump sum contributions, or the Participant’s employer; 
 (b) the number of shares of Stock purchased on behalf of the Participant with all of such contributions; and 
 (c) the total number of shares of Stock then allocated to the Participant’s Account. 
 9.4 Voting of Stock in Accounts. The Company shall provide to each Participant all notices and correspondence it provides to any shareholder of record who is not a Participant, including
proxy statements. The Plan Agent shall receive proxy instructions from each Participant and shall vote the Stock allocated to each Participant’s Account in accordance with the instructions, if any, provided by such Participant. 

9.5 Non-Alienation. No Participant may use his or her Account, or the Stock allocated to such Account, as collateral, or
otherwise assign, pledge or encumber such Stock. 
 9.6 Fees and Commissions. The Company shall pay commissions,
service charges or other costs incurred with respect to the purchase of Stock for purposes of the Plan. When any such Stock is sold, the Participant is responsible for payment of any commissions, service charges or other costs incurred on account of
such sale. 
 SECTION 10 
 MISCELLANEOUS 
 10.1 Voluntary Participation. Participation
in the Plan is entirely voluntary, and by maintaining the Plan the Company is not making a recommendation as to whether any Eligible Employee should invest in Stock. Investment in any stock involves risk, and each Eligible Employee must decide
whether to accept the risk of investing in Stock. 
 10.2 Employee Rights. The right of the Company or an
Affiliated Company to discipline or discharge Employees, or to exercise rights related to the tenure of any individual’s employment, shall not be affected in any manner by reason of the existence of the Plan or any action taken pursuant to the
Plan. 
 10.3 Construction. The Plan Administrator shall have full power and authority to interpret and construe
the Plan, to adopt rules and regulations not inconsistent with the Plan for purposes of administering the Plan with respect to matters not specifically covered in the Plan document and to amend and revoke any rules and regulations so adopted. Except
as otherwise provided in the Plan, any interpretation of the Plan and any decision on any matter within the discretion of the Plan Administrator which is made in good faith by the Plan Administrator shall be final and binding. 

  
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 10.4 Interpretation. Section and subsection headings are for convenience of
reference and not part of this Plan, and shall not influence its interpretation. Wherever any words are used in the Plan in the singular, masculine, feminine or neuter form, they shall be construed as though they were also used in the plural,
feminine, masculine or non-neuter form, respectively, in all cases where such interpretation is reasonable. 
 10.5 Plan
Amendment. The Company may, by written resolution of its Board of Directors or through action of the Compensation Committee of such Board, at any time and from time to time, amend the Plan in whole or in part. 

10.6 Plan Termination. The Company may, by written resolution of its Board of Directors or through action of the
Compensation Committee of such Board, terminate the Plan at any time. In the event the Plan terminates, the Participant’s Accounts shall be handled in the same manner as if the Participant had terminated employment with the Company and all
Affiliated Companies. 
 10.7 Choice of Law. To the extent not preempted by applicable federal law, the
construction and interpretation of the Plan shall be made in accordance with the laws of the State of Minnesota, but without regard to any choice or conflict of laws provisions thereof. 

10.8 Acceptance of Terms. By electing to participate in the Plan, each Participant shall be deemed to have accepted all of
the provisions of the Plan, and the terms and conditions set forth by the Plan Agent, and to have agreed to be fully bound thereby. 
 10.9 Computational Errors. In the event mathematical, accounting, or similar errors are made in maintaining Participant Accounts, the Plan Administrator or the Plan Agent, as the case may
be, may make such equitable adjustments as it deems appropriate to correct such errors. 
 10.10 Communications.
The Company, a Participating Employer or the Plan Agent may, unless otherwise prescribed by any applicable state or federal law or regulation, provide the Prospectus and any notices, forms or reports by using either paper or electronic means.

  
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 APPENDIX A 

PENTAIR LTD. 
 INTERNATIONAL STOCK PURCHASE AND BONUS PLAN 
 Effective September 28,
2012 
 SECTION 1 
 BACKGROUND AND PURPOSE 
 1.1 Background. See “Section 1
– History and Background” of the Plan. 
 1.2 Purpose. The purpose of the terms and conditions of the
Plan set forth in this Appendix A (the “International Plan”) is to assist the Company and its international subsidiaries in attracting and retaining personnel of outstanding abilities, to motivate employees to dedicate their maximum
productive effort on behalf of the Company and its international branches and subsidiaries and to encourage long-tem ownership of the Company’s common stock by such employees. 

SECTION 2 

DEFINITIONS 
 Unless the context clearly requires otherwise, (1) when capitalized, the terms listed below shall have the meanings given below when used in this Section or other parts of the International Plan and
(2) when capitalized, terms used in the International Plan that are not defined in the International Plan shall have the meanings given in the other parts of the Plan. 
 (a) “Account” is the account maintained by the Company or its agent for each Participant to hold shares of Stock purchased in accordance with the International Plan, together with any
other funds belonging to the Participant. 
 (b) “Alternate Currency” is any currency other than United States
dollars. 
 (c) “Board” is the Board of Directors of the Company. 

(d) “Committee” is the International Stock Plan Committee, which is a committee of employees of the Company or its
affiliates as appointed from time to time by the Board to administer the International Plan. 
 (e) “Company”
is Pentair Ltd., a Swiss company. 
 (f) “Distribution Date” is any business day on which the New York Stock
Exchange is open and conducting business. 
 (g) “Eligible Employee” is each Regular Employee of a
Participating International Affiliate who is at least eighteen (18) years of age and has completed at least one (1) year of continuous employment with a Participating International Affiliate and who is not covered by the parts of the Plan
other than this Appendix A. 

 (h) “International Plan” is the Pentair Ltd. International Stock Purchase
and Bonus Plan, as described in this Appendix A effective September 28, 2012, and as it may be amended from time to time thereafter. 
 (i) “Participant” is an Eligible Employee who is enrolled in the International Plan. 
 (j) “Participating International Affiliate” is any branch office of the Company, and any corporation or other form of business or association owned or controlled, directly or indirectly,
by the Company, whose Regular Employees are, by action of the Committee, permitted to participate in the International Plan and which is identified on Schedule 1 hereto. Notwithstanding the foregoing, any branch office, corporation or other form of
business or association that is considered a Participating International Affiliate under the Pre-Merger International ESPP immediately prior to the Commencement Date automatically shall be considered a Participating International Affiliate hereunder
on the Commencement Date without further action by the Committee. 
 (k) “Plan” is the Pentair Ltd. Employee
Stock Purchase and Bonus Plan as described in this plan document effective September 28, 2012, and as it may be amended from time to time thereafter. 
 (l) “Regular Employee” is each employee of a Participating International Affiliate who works or is scheduled to work a minimum of fifteen (15) hours per week. 

(m) “Stock” is the registered shares of the Company, nominal value CHF 0.50 per share, subject to any capital
changes. 
 SECTION 3 
 ADMINISTRATION 
 3.1 Administrator. The International Plan
shall be administered by the Committee, which shall have full power and authority to interpret and construe any provision of the International Plan, to adopt rules and regulations not inconsistent with the International Plan for carrying out the
purposes of the International Plan with respect to matters not specifically covered herein, to amend and revoke any rules or regulations so adopted and to appoint agents, including a custodian. Except as otherwise provided herein or to the extent
required by law, any interpretation of the International Plan and any decision on any matter within the discretion of the Committee which is made by the Committee in good faith is binding on all persons. The Company may delegate its duties under the
International Plan to its agents or to the Committee. 
 3.2 Rulemaking Authority. The Committee shall, to the
extent necessary or desirable, establish any special rules for Eligible Employees, former employees, or Participants located in a particular country. Such rules shall be set forth in Appendices to this International Plan, which shall be deemed
incorporated into the International Plan. 

  
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 SECTION 4 
 PARTICIPATION 
 Each Eligible Employee may participate in the International
Plan at any time after the Commencement Date by delivering to the Participating International Affiliate by which he or she is employed a completed and duly signed form authorizing the relevant Participating International Affiliate to make
compensation deductions for the Participant for purposes of enabling the Participant to make contributions to the International Plan as contemplated herein. 
 Participation in the International Plan by Eligible Employees is entirely voluntary. After the Commencement Date, participation in the International Plan will begin as soon as practicable after the
required form is received and processed by the Participating International Affiliate and continue until the Participant ceases to be an Eligible Employee, the Company terminates the participation of the Participant pursuant to Section 9 or
written termination by the Participant of his or her participation in the International Plan is received and processed by the relevant Participating International Affiliate. 
 Notwithstanding the foregoing, all Participants in the Pre-Merger International ESPP as of the date immediately preceding the Commencement Date automatically shall be considered Participants hereunder on
the Commencement Date without further action by such individuals and such individuals’ compensation deduction agreements shall be given effect hereunder. 
 SECTION 5 
 PARTICIPANT CONTRIBUTIONS 

Participants may make contributions for the purchase of Stock under the International Plan in accordance with the following: 

(a) Payroll Deductions. Participants may authorize the relevant Participating International Affiliate to make periodic payroll
deductions from the Participant’s compensation for the purpose of purchasing Stock. The deductions shall be forwarded by the relevant Participating International Affiliate to the Company or its agent on behalf of the Participant. Such
deductions must be at least the minimum and not to exceed the maximum amounts set forth on Schedule 2 attached hereto for each Participating International Affiliate, which minimum and maximum amounts shall be reviewed and adjusted annually by
the Committee, as appropriate. Payroll deductions will be automatically terminated when the Participant’s applicable maximum amount is reached. A payroll deduction may be decreased or increased (subject to the above limitations) once each
calendar quarter by the Participant completing and returning the appropriate payroll deduction form to the relevant Participating International Affiliate. A payroll deduction may be terminated at any time by the Participant giving written notice to
the relevant Participating International Affiliate. A Participant who terminates his or her payroll deduction may not re-enroll in the International Plan until the next calendar year, unless the termination of participation resulted from the
Participant’s termination of employment and he or she is subsequently reemployed by any Participating International Affiliate, in which case the Participant may re-enroll in the International Plan in the following calendar quarter in accordance
with the procedures set forth in Section 4 above. 

  
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 (b) Lump Sum Contributions. Participants may also make additional lump sum
contributions in amounts not to exceed the maximum amounts set forth on Schedule 2 per calendar quarter. Such lump sum contributions shall be made to the relevant Participating International Affiliate which shall forward the contribution to the
Company or its agent on behalf of the Participant, and such contributions shall not be subject to the bonus provisions described in Section 6 below. 
 (c) Currency Conversion. The Company or its agent shall convert all funds received from Participants in an Alternate Currency into United States dollars in accordance with procedures established by
the Committee. 
 SECTION 6 
 BONUS CONTRIBUTIONS 
 6.1 Employer Contributions. Each month,
the Participating International Affiliate which employs the Participant will forward to the Company or its agent for such Participant’s Account a bonus equal to 25% of the amount contributed by each Participant in the form of payroll deductions
pursuant to Section 5(a), subject to the limitations set forth therein. Notwithstanding the above, if a Participant sells shares of Stock acquired under this International Plan within the first year after their purchase, the relevant
Participating International Affiliate may terminate the payment of any further bonus contributions for such Participant. 
 6.2
Taxation. The Participant is responsible for the payment of all income taxes, employment, social insurance, welfare and other taxes under applicable law relating to the bonus contributions made by the relevant Participating
International Affiliate, the purchase and sale of Stock pursuant to this International Plan and the distribution of Stock or cash to the Participant in accordance with this International Plan. The Participating International Affiliate is authorized
to make appropriate withholding deductions from each Participant’s compensation, which shall be in addition to any payroll deductions made pursuant to Section 5, and to pay such amounts to the appropriate tax authorities in the relevant
country or countries in satisfaction of any of the above tax liabilities of the Participant under applicable law. All such payments of applicable withholding tax in any relevant jurisdiction shall be the obligation of the relevant Participating
International Affiliate. 
 SECTION 7 
 PURCHASES, SALES AND WITHDRAWALS 
 7.1 Forwarding Funds. All
funds deducted from a Participant’s compensation by the relevant Participating International Affiliate, the bonus contributions made by the relevant Participating International Affiliate and any lump sum contributions made by such Participant
shall be forwarded to the Company or its agent, together with a list of Participants and the amounts allocable to their respective Accounts. No interest shall be paid on such funds by the Company or the Participating International Affiliates.

 7.2 Purchasing Stock. Upon receipt of funds from the Participating International Affiliates, the Company or it
agent shall, as promptly as practicable, purchase on the New York Stock Exchange, as agent for the Participants, as many whole shares of Stock as the aggregate of 

  
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such funds will permit, subject to applicable regulations. The relevant Participating International Affiliate shall pay commissions on the purchases of such Stock and such other related charges
as may be agreed from time to time. 
 7.3 Recordkeeping. The Company or its agent shall maintain individual
Accounts for each Participant. Shares of Stock shall be allocated by the Company or its agent at the average cost of Stock at the time of purchase to each Participant’s Account in proportion to the amount received by the Company or its agent
for the account of each Participant. Allocations shall be made in full shares of Stock and in fractional interests in shares. 

7.4 Holding Stock. At the time of purchase of Stock under the International Plan, each Participant for whom funds were
received shall immediately acquire full ownership of all Stock and of any fractional interest in Stock purchased for his or her Account. The Company or its agent shall hold all shares purchased for and on behalf of the Participants until:

 (a) the Participant requests that some or all of the Stock in his or her Account be issued to such Participant, 

(b) the Participant requests the Company or its agent to sell some or all of the Stock in his or her Account, or 

(c) the Participant’s Account is terminated. 
 7.5 Distribution of Account. A Participant may request the Company or its agent to (a) deliver all or some of the Stock held in the Participant’s Account or (b) sell some or
all of the Stock held in the Participant’s Account as of any Distribution Date. If a Participant requests the Company or its agent to deliver all or some of the Stock held in the Participant’s Account, such Stock shall, at the option of
the Participant as stipulated to the Company or its agent in writing, be delivered (i) by means of electronic transfer to the brokerage or bank account designated by the Participant or (ii) in hard copies by means of registered mail to the
mailing address designated by the Participant. Selling commissions, the costs of converting U.S. dollars into the relevant Alternate Currency after such sale and other service charges of the Company or its agent shall be borne by the Participant.
The Company or its agent shall sell the Stock as soon as administratively feasible on or after the Distribution Date as determined by the Company or its agent. The Company or its agent shall deliver the proceeds of such sale to the Participant in
the currency as specified by the Participant, pursuant to rules established by the Committee. Such proceeds, minus any costs charged to the Participant for commissions, currency conversion and other related charges, shall be paid to the Participant
as soon as administratively feasible following the sale of Stock. Any gains or losses attributable to the conversion of United States dollars to the Alternate Currency in which the distribution is made will serve to increase or decrease, as the case
may be, the amount of the distribution to which the Participant is entitled. 
 SECTION 8 

ACCOUNTS AND REPORTS 
 Each Participant shall receive quarterly, or at such other intervals as may be necessary or appropriate, a statement of activity from the Company or its agent which shall include the following
information: 
 (a) the amount contributed for the period by the Participant and the relevant Participating International
Affiliate pursuant to the International Plan; 

  
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 (b) the number of shares purchased for the Participant’s Account during the period;

 (c) the total number of shares held in the Participant’s Account; and 

(d) such other information as the Committee shall specify from time to time. 

SECTION 9 

ENDING PARTICIPATION 
 9.1 Termination of Participation. A Participant may voluntarily terminate participation in the International Plan at any time by giving written notice to the Participating International
Affiliate by which he or she is employed. In addition, the Company may terminate a Participant’s Account and dispose of the Stock therein pursuant to Section 9.2 if the Participant dies or terminates employment for any reason with the
relevant Participating International Affiliate. A Participant whose participation in the International Plan terminates may not reenter the International Plan during the same calendar year, unless the termination of participation resulted from the
Participant’s termination of employment and he or she is subsequently reemployed by any Participating International Affiliate. 
 9.2 Disposition of Account Upon Termination of Participation. Upon termination of participation, a Participant shall direct the Company or its agent as to the disposition of the Stock in his
or her Account. If a Participant elects cash, the Company or its agent shall sell the Stock allocated to the Participant’s Account at the then current market price, and the Company or its agent shall deliver the proceeds, less any brokerage
commissions, currency conversion costs and other related charges, to the Participant. If the terminating Participant elects to receive Stock or makes no election, the Company or its agent shall deliver to the Participant the number of full shares of
Stock in his or her Account plus cash for any fractional shares. In the event of the death of a Participant, all elections shall be made by, and all distributions made to, the designated beneficiary of the Participant or the legal representative of
the Participant’s estate, as provided in Section 11.2 below. 
 SECTION 10 

RIGHTS AS A STOCKHOLDER 
 10.1 Voting and Other Rights. As soon as administratively practicable after the Company announces a meeting of its shareholders, the Company or its agent shall deliver to each Participant by
mail or otherwise, all notices of meetings, proxy statements and other shareholder materials. At the meeting, or any adjournment thereof, the Company will vote shares of Stock credited to such Accounts as of the record date for such vote in
accordance with the instructions received by the Company from Participants. The Company will not vote any shares of Stock held in Accounts for which it has not received instructions from Participants in time to be processed. 

10.2 Dividends and Other Proceeds. Cash dividends received in respect of Stock held in Accounts shall be credited by the
Company or its agent to such Accounts. All such cash 

  
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shall be reinvested in Stock as promptly as practicable following receipt thereof. The relevant Participating International Affiliate shall pay all regular commissions in connection with the
purchase of Stock constituting such reinvestment of cash dividends. Stock dividends or stock splits in respect of Stock held in the Accounts shall be credited to such Accounts without charge. The Company shall direct its agent to sell all other
securities and rights to subscribe for shares received in respect of Stock, if any, held in the Accounts and the proceeds therefrom shall be treated in the same manner as cash dividends. All cash dividends payable on Stock held by the Company or its
agent for the Accounts shall be paid net of applicable United States withholding taxes on such dividends which shall be withheld by the Company or its agent and paid to the appropriate United States tax authorities. The Company or its agent shall
annually notify each Participant as part of its periodic reporting obligations of the amount of such withholding applicable to each Participant’s Account to enable such Participant to apply for any applicable tax credit in each such
Participant’s country. 
 SECTION 11 
 TRANSFER OF RIGHTS 
 11.1 Non-alienation. Notwithstanding
Section 7.4, no shares of Stock held in a Participant’s Account or any Participant’s interest in this International Plan shall be transferable by a Participant, subject to the Participant’s right to sell such Stock, receive such
Stock or terminate his or her participation in this International Plan as elsewhere provided herein, and no assets in any Account or any other benefit under this International Plan may in any manner be mortgaged, alienated, sold, transferred,
assigned, pledged, encumbered or charged, and any attempt to do so is void. No such assets in an Account or any such benefit shall be subject to the debts, contracts, liabilities, engagements or torts of the person entitled to such assets or
benefits. 
 11.2 Rights of Beneficiary. Unless otherwise required by local law or the Committee, a Participant
may, by signing a form furnished by the Committee, designate any legal or natural person or persons who shall be entitled to exercise the Participant’s rights hereunder or to which the Participant’s benefits are to be paid if the
Participant dies before receiving all benefits payable under this International Plan. A beneficiary designation will be effective only when the signed form is filed while the Participant is alive with the Participating International Affiliate which
employs the Participant. Filing a new signed beneficiary designation form will cancel all beneficiary designation forms signed earlier. If a Participant has not designated a beneficiary, the Participant’s Account shall be disposed of and
distributed by the Company or its agent to the legal representative of the Participant’s estate in accordance with applicable law. 
 SECTION 12 
 MISCELLANEOUS 

12.1 Term of International Plan. Contingent upon the consummation of the Merger, this International Plan shall be effective
September 28, 2012, or such other date as the Merger is consummated, and shall remain in effect for a period of ten (10) years after such effective date, unless earlier terminated as provided in Section 12.2(b). 

  
 -7-

 12.2 Amendment and Termination. 

(a) Plan Amendment. The Company may, by written resolution of the Board or through action of the Compensation Committee of such
Board, at any time and from time to time, amend the International Plan in whole or in part. 
 (b) Plan Termination. The
Company may, at any time, by written resolution of the Board or through action of the Compensation Committee of such Board, terminate the International Plan. In addition, the Board or the Compensation Committee of the Board may at any time terminate
this International Plan as to any individual Participating International Affiliate. All shares of Stock and cash, if any, in Accounts of affected Participants shall, pursuant to rules adopted by the Committee, be distributed as soon as
administratively feasible after such termination. 
 12.3 Employment Relationship. 

(a) Tenure of Employment. Nothing in this International Plan shall confer on any Participant any express or implied right to
employment or continued employment by the Company or any Participating International Affiliate, whether for the duration of the International Plan or otherwise. 
 (b) Contract of Employment. This International Plan shall not form part of any contract of employment between the Company or any of the Participating International Affiliates nor shall this
International Plan amend, abrogate or affect any existing employment contract between the Company or any of the Participating International Affiliates and their respective employees. Nothing in this International Plan shall confer on any person any
legal or equitable right against the Company or any of its affiliates, directly or indirectly, or give rise to any cause of action at law or in equity against the Company or any of its affiliates. 

(c) Severance. Neither the Stock purchased hereunder, any bonus contributions made hereunder nor other benefits conferred hereby
shall form any part of the wages or salary of any Eligible Employees for purposes of severance pay or termination indemnities, irrespective of the reason for termination of employment. Under no circumstances shall any person ceasing to be an
employee of the Company or any of its affiliates be entitled to any compensation for any loss of any right or benefit under this International Plan which such employee might otherwise have enjoyed but for ceasing to be an employee, whether such
compensation is claimed by way of damages for wrongful or unfair dismissal, breach of contract or otherwise. 
 12.4
Voluntary Participation. Participation in the International Plan is entirely voluntary, and by maintaining the International Plan the Company is not making a recommendation as to whether any Eligible Employee should invest in Stock.
Investment in any stock involves risk, and each Eligible Employee must decide whether to accept the risk of investing in Stock. 

12.5 Communications. The Company or a Participating International Affiliate may, unless otherwise prescribed by applicable
laws or regulations, provide the prospectus and any notices, forms or reports by using either paper or electronic means. 

  
 -8-

 12.6 Acceptance of Terms. By participating in the International Plan, each
Participant shall be deemed to have accepted all the conditions of the International Plan and the terms and conditions of any rules and regulations adopted by the Committee or the Company and shall be fully bound thereby. 

  
 -9-

 The undersigned, by authority of the Compensation Committee of the Board of Directors of Pentair Ltd., does
hereby execute the foregoing document for and on behalf of Pentair Ltd. effective as of September 28, 2012. 
  

							
		 		 	PENTAIR LTD.
				
	Dated:                     	 		 	By	 	  

		 		 		 	Angela D. Lageson
		 		 		 	Senior Vice President,
		 		 		 	General Counsel, and Secretary

  
 -10-

 Exhibit A 
 Special Rules - Germany 
 These special rules, adopted pursuant to Section 3.2 of the
Pentair Ltd. International Stock Purchase and Bonus Plan, modify the terms of such Plan as in effect in Germany as follows: 
 The following
section is added to Section 11, Transfer of Rights, of the International Plan: 
 11.3 Provisions Applicable in
Germany. Notwithstanding the foregoing, if prior to the transfer of the Stock in a Participant’s Account to such Participant’s designated beneficiary the Company or its agent receives a certified copy of a Certificate of Heirship
(“Erbschein”), then the Company or its agent shall transfer the relevant shares of Stock to only the person or persons named in such Certificate, without regard to whether such person demands the sale of Stock and payment in cash and
without any further obligation on the part of the Company or its agent to investigate such transferees’ rights. If the Company or its agent transfers the Stock to a designated beneficiary or a person named in the Erbschein, the Company or its
agent shall be released from all obligations to the Participant and the Participant’s successors, assigns, and other persons who may have an interest in the Participant’s Account. 

  
 A-1

 Schedule 1 
 Participating International Affiliates 
 SCHEDULE 1 

PARTICIPATING INTERNATIONAL AFFILIATES 
  

			
	 Participating 
International
Affiliate
	  	 Effective Date

	Schroff GmbH	  	August 31, 1998
	Pentair Water France S.A.S.	  	October 1, 1999
	Schroff S.A.S.	  	February 1, 1999
	Schroff UK Ltd.	  	September 1, 1999
	Schroff K.K.	  	April 1, 1999
	Pentair Water Belgium B.V.B.A.*	  	January 1, 2002
	Pentair Water Filtration UK Ltd.	  	September 1, 2003
	Pentair Water Filtration France S.A.S	  	September 1, 2003
	Schroff S.r.l.	  	September 1, 2003
	Pentair Water Italy S.r.l.	  	September 1, 2003
	Schroff Scandinavia AB	  	October 1, 2004
	Hoffman Schroff PTE Ltd.	  	October 1, 2004
	Pentair Water Australia PTY Ltd.	  	October 1, 2004
	Pentair Water New Zealand Ltd.	  	October 1, 2004
	Pentair Water Germany GmbH	  	October 1, 2004
	Nocchi Pompe S.a.r.l.	  	October 1, 2004
	Shurflo Ltd.	  	October 1, 2004
	Hypro EU Ltd.	  	October 1, 2004
	Pentair Water Belgium BVBA**	  	December 29, 2006
	Pentair Manufacturing Belgium BVBA	  	April 1, 2007
	Pentair Manufacturing France S.A.S.	  	May 1, 2007
	Pentair Manufacturing Italy s.r.l.	  	October 1, 2007
	Pentair International, S.A.R.L. (Switzerland)	  	February 26, 2007
	Jung Pumpen GmbH	  	April 28, 2010
	Jung Pumpen S.A.R.L.	  	April 28, 2010
	Pentair Services France S.A.S.	  	January 1, 2010
	Everpure Japan K.K.	  	April 28, 2010

  

	*	With respect to the period ending December 29, 2006. 

	**	With respect to the period beginning December 29, 2006, on which date Pentair Water Belgium BVBA merged with and into Pentair Belgium BVBA, which simultaneously
changed its corporate name to Pentair Water Belgium BVBA. 

  
 Schedule-1

 Schedule 2 
 Minimum and Maximum Deductions 
  

													
	 Participating International Affiliate
	  	Monthly
Minimum
Deduction	 	  	Monthly
Maximum
Deduction	 	  	Quarterly
Maximum
Contributions	 
	 Schroff GmbH
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Pentair Water France SAS
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Schroff S.A.S.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Schroff UK Ltd.
	  	£	6	  	  	£	450	  	  	£	1,800	  
	 Schroff K.K.
	  	¥	1,400	  	  	¥	100,000	  	  	¥	400,000	  
	 Pentair Water Belgium B.V.B.A
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Pentair Water Filtration UK Ltd.
	  	£	6	  	  	£	450	  	  	£	1,800	  
	 Pentair Water Filtration France S.A.S
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Schroff S.r.l.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Pentair Water Italy S.r.1.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Schroff Scandinavia AB
	  	SEK	 90	  	  	SEK	 6,750	  	  	SEK	 27,000	  
	 Hoffman Schroff PTE Ltd.
	  	S$	20	  	  	S$	1,500	  	  	S$	6,000	  
	 Pentair Water Australia PTY Ltd.
	  	A$	20	  	  	A$	1,300	  	  	A$	5,000	  
	 Pentair Water New Zealand Ltd.
	  	NZ$	20	  	  	NZ$	1,300	  	  	NZ$	5,000	  
	 Pentair Water Germany GmbH
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Nocchi Pompe S.a.r.l.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Shurflo Ltd.
	  	£	6	  	  	£	450	  	  	£	1,800	  
	 Hypro EU Ltd.
	  	£	6	  	  	£	450	  	  	£	1,800	  
	 Pentair Manufacturing Belgium BVBA
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Pentair Manufacturing France S.A.S.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Pentair Manufacturing Italy s.r.l.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Pentair International, S.A.R.L. (Switzerland)
	  	CHF	16	  	  	CHF	1,200	  	  	CHF	4,800	  
	 Jung Pumpen GmbH
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Jung Pumpen S.A.R.L.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Pentair Services France S.A.S.
	  	€	10	  	  	€	750	  	  	€	3,000	  
	 Everpure Japan K.K.
	  	¥	1,400	  	  	¥	100,000	  	  	¥	400,000	  

  
 Schedule-2

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