Document:

EX-10.3

 Exhibit 10.3 

CAUSE NO. CC-13-05823-E 
  

							
	REIT REDUX, L.P., HOAK & CO., and	 	§                                	 	IN THE COUNTY COURT	  	
	HOAK PUBLIC EQUITIES, L.P.,	 	§	 		  	
	On behalf of themselves and others	 	§	 		  	
	similarly situated, and Derivatively on	 	§	 		  	
	Behalf of PMC COMMERCIAL TRUST,	 	§	 		  	
		 	§	 		  	
	 Plaintiffs,
	 	§	 		  	
		 	§	 		  	
	v.	 	§	 	AT LAW NO. 5	  	
		 	§	 		  	
	PMC COMMERCIAL TRUST,	 	§	 		  	
	JAN F. SALIT, BARRY N. BERLIN,	 	§	 		  	
	NATHAN COHEN, DR. MARTHA	 	§	 		  	
	ROSEMORE MORROW, BARRY IMBER,	 	§	 		  	
	SOUTHFORK MERGER SUB,	 	§	 		  	
	and CIM URBAN REIT, LLC,	 	§	 		  	
		 	§	 		  	
	 Defendants.
	 	§	 	DALLAS COUNTY, TEXAS	  	

 SETTLEMENT AGREEMENT 

WHEREAS, pending before the County Court at Law No. 5, in Dallas County, State of Texas (the “Court”), is an
action captioned REIT Redux, L.P., Hoak & Co., and Hoak Public Equities, L.P., on behalf of themselves and all others similarly situated, and derivatively on behalf of PMC Commercial Trust v. PMC Commercial Trust, Jan F. Salit, Barry N.
Berlin, Nathan Cohen, Dr. Martha Rosemore Morrow, Barry Imber, Southfork Merger Sub, LLC, and CIM Urban REIT, LLC, Cause No.: CC-13-05823-E (the “Action”); 

WHEREAS, REIT Redux, L.P. (“Plaintiff,” on its behalf and on behalf of the individuals or entities that are “reporting
persons” on Plaintiff’s Schedule 13D filings with respect to PMC Commercial Trust filed with the SEC, the “13D Group”) has reached an agreement providing for the settlement of its claims in the Action on the terms and
subject to the conditions set forth below, has agreed to dismiss its claims, and based on this Settlement Agreement no longer desires to be a plaintiff, on behalf of itself, others similarly situated and/or derivatively on behalf of PMC Commercial
Trust; 

  
 PAGE 1 

 WHEREAS, on July 8, 2013, PMC Commercial Trust (“PMC”), a publicly traded
(NYSE: PCC) Real Estate Investment Trust organized under the laws of the State of Texas, announced that it and its subsidiary, Southfork Merger Sub, LLC (“Southfork”) a Delaware limited liability company, entered into an Agreement
and Plan of Merger (the “Merger Agreement”) with CIM Urban REIT, LLC (“CIM”) and its subsidiary, CIM Merger Sub, LLC (“CIM Merger Sub”), pursuant to which (among other things), if approved by a vote
of at least a majority of the shareholders of PMC present or represented by proxy at a special meeting of PMC’s shareholders currently scheduled for February 11, 2014 (the “PMC Shareholder Vote”): (1) PMC would pay a
special dividend to its shareholders as of the dividend record date in the amount of $5.50 per share; (2) PMC would issue approximately 22 million additional common and approximately 65 million preferred shares to a subsidiary of CIM
as set forth in the Merger Agreement; and (3) following the issuance of such shares, CIM Merger Sub would merge into Southfork, all as more fully described in the Merger Agreement (the “Proposed Transaction”); 

WHEREAS, on July 8, 2013, PMC filed with the Securities and Exchange Commission (“SEC”) a Form 8-K (the “Form
8-K”) which announced the Proposed Transaction and attached a copy of the Merger Agreement; 
 WHEREAS, on August 30, 2013,
PMC filed a Registration Statement on Form S-4 (File No. 333-190934) (the “Form S-4”) with the SEC in connection with the Proposed Transaction, and on December 30, 2013, PMC filed its definitive Proxy Statement/Prospectus
pursuant to Rule 424(b)(3) of the Securities Act of 1933, as amended, which was mailed to shareholders of PMC on or about January 6, 2014 seeking their approval of certain aspects of the Proposed Transaction, and among other things, provided
information about the Proposed Transaction, its background, and the reasons PMC’s Board of Trust Managers was recommending certain aspects of the Proposed Transaction for shareholder approval; 

  
 PAGE 2 

 WHEREAS on July 19, 2013 and again on December 23, 2013, Plaintiff sent letters to PMC
opposing the Proposed Transaction because, among other things, Plaintiff contended that their shares’ value post-Merger, and therefore, the total merger compensation, would be insufficient; 

WHEREAS, Defendants dispute the assertions set forth in Plaintiff’s July 19, 2013 and December 13, 2013 letters; 

WHEREAS, on October 9, 2013, Plaintiff filed the Action seeking, among other things, to enjoin the Proposed Transaction as contemplated
in the Form S-4, based on Plaintiffs’ direct, derivative, and putative class allegations in connection with the Proposed Transaction claiming (among other things): (a) breach of PMC’s Declaration of Trust, breach of fiduciary duty and
shareholder oppression against Jan F. Salit, Barry N. Berlin, Nathan Cohen, Dr. Martha Rosemore Morrow and Barry Imber (the “Individual Defendants”), (b) vicarious liability against PMC, and (c) aiding, abetting and
inducing such breaches and tortious interference against CIM; 
 WHEREAS, Defendants have denied, and continue to deny, that they have:
(i) breached the PMC Declaration of Trust, (ii) committed, attempted to commit, or aided and abetted in the commission of any breach of fiduciary duty owed to PMC, Southfork or their shareholders or otherwise, (iii) committed any
tortious act or (iv) engaged in any of the wrongful acts alleged in the Action; 

  
 PAGE 3 

 WHEREAS, on November 4, 2013, Plaintiff filed an Application for Temporary Injunction,
seeking to enjoin the Proposed Transaction, which is currently set for hearing on January 29, 2014, and February 6, 2014; 

WHEREAS on November 12, 2013, Plaintiff amended its Petition to add derivative allegations on behalf of Southfork; 

WHEREAS, on December 13, 2013, PMC, the Individual Defendants and Southfork filed their Amended Plea to the Jurisdiction and Special
Exceptions, which is pending before the Court and could result in dismissal of the claims; 
 WHEREAS, beginning in November 2013, the
parties to the Action and their counsel engaged in arms’ length discussions regarding a potential resolution of the claims asserted in the Action, and on January 21, 2014, the parties mediated such claims before Chris Nolland, the mediator
appointed by the Court to mediate the claims in the Action; 
 WHEREAS, after multiple adversarial negotiations including two days of
in-person meetings, one day of which involved mediation before the Court-appointed mediator, Plaintiff, on the one hand, and PMC, Southfork, the Individual Defendants and CIM (collectively, the “Defendants,” and together with
Plaintiff, the “Parties”), on the other hand, reached an agreement concerning the settlement of the claims in the Action, which they set forth herein (the “Settlement”); 

WHEREAS, as part of the Settlement, CIM has agreed to take certain actions, including that CIM has represented and warranted that CIM Service
Provider, LLC, a subsidiary of CIM Group and the entity appointed to act as manager pursuant to the Master Services Agreement (as defined in the Form S-4) (“Buyer”) will purchase 500,000 shares of PMC for $5.00 per share during an
open “window”; 

  
 PAGE 4 

 WHEREAS, in consideration for the foregoing and the mutual promises made herein, Plaintiff, on
its behalf and on behalf of the 13D Group, will release the Defendants, their affiliates, and all persons acting on behalf of or in concert with them, of all claims that Plaintiff or the 13D Group have or might have relating to, inter alia,
the Proposed Transaction and the events leading up to the Proposed Transaction, including all claims that were or could have been asserted in the Action; 

WHEREAS, as of the date of this Settlement Agreement (the “Effective Date”), Plaintiff and the 13D Group collectively own at
least 580,000 PMC common shares (collectively the “Group’s Shares”); 
 WHEREAS, as part of the Settlement, Plaintiff
agrees to withdraw its Application for Temporary Injunction and to vote Plaintiff’s shares (and represents that the other members of the 13D Group shall vote their shares) in favor of all proposals submitted to PMC’s shareholders in
connection with the Proposed Transaction; 
 WHEREAS, Defendants have agreed to settle the claims on the terms set forth in this Settlement
Agreement solely to avoid the costs, disruption and distraction of further litigation, and without admitting the validity of any allegations made in the Action or any liability with respect thereto and expressly denying same; 

NOW THEREFORE, as a result of the foregoing and the arm’s length negotiations among the Parties and their counsel, in consideration of
the promises and covenants set forth herein, the Parties have agreed as follows: 
 1. Subject to compliance by Plaintiff with (a) the
notice requirement (including clauses (i), (ii) and (iii)) of the next sentence and (b) the voting obligations set forth in Paragraph 2, CIM represents and warrants that Buyer will purchase the Group’s Shares in PMC (not to

  
 PAGE 5 

 
exceed 500,000 shares in the aggregate) at a price of $5.00 per share at any time between July 10, 2014 and August 10, 2014 (the “Put Period”). On behalf of the 13D
Group, Plaintiff may exercise the right one time to have Buyer purchase the Group’s Shares in accordance with this paragraph (the “Put Right”) by providing Buyer during the Put Period with written notice of its exercise of the
Put Right, which notice shall (i) be delivered to CIM Service Provider, LLC, c/o CIM Group, 6922 Hollywood Blvd., Ninth Floor, Los Angeles, California 90028, Attn: General Counsel, (ii) set forth the number of PMC shares, up to 500,000,
that Plaintiff elects to have Buyer purchase from the 13D Group (as record or beneficial owner), and (iii) certify, under penalty of perjury, that neither Plaintiff nor any of the other members of the 13D Group has purchased or acquired, or
contracted to purchase or acquire, any shares of PMC at any time from January 21, 2014 through the date of such notice and covenants that they will not do so through the end of the Put Period. Subject to compliance with the foregoing, Buyer
shall purchase the Group’s Shares (identified by Plaintiff pursuant to the prior clause (ii)) within five business days thereafter and deliver or cause the delivery to Plaintiff and/or the other applicable members of the 13D Group sale proceeds
no later than the applicable settlement period. Neither Plaintiff nor any member of the 13D Group is required to sell any of the Group’s Shares and may sell or cause the sale of less (individually or in aggregate) than 500,000 PMC shares
pursuant to the Put Right. CIM further agrees that any modifications it makes to the Proposed Transaction’s special dividend provisions or the number of shares to be issued under the Final Prospectus, or to the extent it causes PMC to enact a
reverse share split, the $5 Put Right price shall be adjusted accordingly. The Put Right shall expire at 5:00 p.m. central time on August 10, 2014 if not exercised in accordance with this paragraph prior to that time. For avoidance of doubt,
(1) the Put Right may be exercised with respect to any of the Group’s Shares held in street name (in 

  
 PAGE 6 

 
which case the purchase and sale of such shares pursuant to the Put Right may occur through broker intermediaries) and (2) Plaintiff’s role in exercising the Put Right on behalf of any
other member of the 13D Group is to facilitate the sale of the Group’s Shares (should such member determine to sell in accordance with the foregoing) but Plaintiff does not control the disposition of any such shares of such other member and no
agreement with any such other member to sell exists. Plaintiff and/or other members of the 13D Group selling the Group’s Shares pursuant to the Put Right shall deliver or cause the delivery of the applicable shares to Buyer in connection with
settlement of the purchase. 
 2. Plaintiff covenants that it and the other members of the 13D Group will vote or cause be voted in the
aggregate all PMC shares beneficially owned by Plaintiff and the other members of the 13D Group as of the record date for the PMC Shareholder Vote (which number of shares so voted shall not be less than the number of the Group’s shares), in
favor of all proposals presented to PMC’s shareholders at the PMC Shareholder Vote, including any adjournment or postponement thereof. In furtherance of the foregoing, Plaintiff (a) shall vote or validly submit proxies with respect to
Plaintiff’s PMC shares owned as of the record date and (b) represents that the other members of the 13D Group shall vote or validly submit proxies with respect to their PMC shares owned as of the record date, in each case by
February 9, 2014 in accordance with the instructions set forth in the Form S-4 voting in favor of all proposals presented to PMC’s shareholders at the PMC Shareholder Vote (it being understood that “street name” shares may be
voted through directing a broker intermediary to vote or submit a proxy in accordance with the foregoing). Following the foregoing affirmative vote by Plaintiff and the 13D Group, they shall not change or withdraw their vote. The failure of
Plaintiff or any other member of the 13D Group to vote (or deliver proxies with respect to) the shares owned by them 

  
 PAGE 7 

 
in favor of the proposals presented to PMC’s shareholders at the PMC Shareholder Vote shall cause the Put Right to terminate (if and only if the PMC Shareholder Vote is held pursuant to
proper notice provided in accordance with PMC’s governing documents and applicable law). If Plaintiff and the other members of the 13D Group comply with their voting obligations herein but the Proposed Transaction nevertheless fails to close,
this Settlement Agreement shall be null and void. For purposes of the foregoing, “fails to close” means (1) the Proposed Transaction with CIM and its affiliates does not close within six (6) months of the date hereof and
(2) the Merger Agreement is terminated. Notwithstanding the foregoing, if a de minimis number of PMC shares, totaling no greater than 5,000 shares, owned by members of the 13D Group are not voted at all (or proxies with respect thereto
have been not provided to PMC), Plaintiff and the other members of the 13D Group shall not be out of compliance with the foregoing voting obligations so long as such de minimis PMC shares are not voted against the proposals presented to
PMC’s shareholders at the PMC Shareholder Vote. 
 3. Upon execution of this Settlement Agreement by all Parties, Plaintiff will
withdraw its Application for a Temporary Injunction filed in the Action and will dismiss all of its direct and derivative claims with prejudice without costs or fees to any Party. 

4. Mutual Releases. 
 (a)
Plaintiff on behalf of itself and the 13D Group (collectively, the “Releasing Persons”) agrees to RELEASE, ACQUIT AND FOREVER DISCHARGE Defendants and their respective spouses, parent entities, affiliates, divisions, subsidiaries
and members, and each and all of their respective past, present or future officers, directors, trustees, managers, principals, agents, representatives, employees, general or limited partners, attorneys, financial or investment advisors (including
without limitation Sandler O’Neill), appraisers, and any other 

  
 PAGE 8 

 
advisors, consultants, accountants, investment bankers, commercial bankers, trustees, engineers, insurers, members, heirs, executors, personal or legal representatives, estates, administrators,
successors and assigns, whether or not any such Released Persons were named in the Action (collectively, the “Released Persons”), of all claims, demands, rights, actions or causes of action, liabilities, damages, losses,
obligations, judgments, suits, fees, expenses, costs, matters and issues of any kind or nature whatsoever, whether legal, equitable or any other type, known or unknown, contingent or absolute, suspected or unsuspected, disclosed or undisclosed,
hidden or concealed, matured or unmatured, that have been, could have been, or in the future can or might be asserted in the Action or in any court, tribunal or proceeding, including but not limited to any claims arising under federal securities
laws or under federal, state statutory or common law, or any other law, rule or regulation, including the law of any other jurisdiction outside of the United States, regarding the allegations, facts, events, acquisitions, matters, acts, occurrences,
decisions, conduct, statements, representations, omissions, that was or could have been raised in the Action, or that are otherwise related in any way to: (i) the claims or allegations asserted in the Action or in any other proceeding
concerning the Proposed Transaction, (ii) the Proposed Transaction and the Merger Agreement and any related agreements (the “Related Agreements”); (iii) any filing with the SEC relating to the Proposed Transaction;
(iv) the negotiations in connection with the Proposed Transaction and Related Agreements; (v) the public statements or disclosures or disclosure obligations of any of the Defendants or Released Persons in connection with the Proposed
Transaction and the Related Agreements; (vi) the fiduciary obligations of any of the Defendants or Released Persons in connection with the Proposed Transaction, the Related Agreements, any SEC filings or any other matter in connection with the
Proposed Transaction; (vii) any alleged breach of the PMC Declaration of Trust related to the PMC Shareholder Vote or 

  
 PAGE 9 

 
the Proposed Transaction; and/or (viii) the entry by Defendants into this Settlement Agreement, the Settlement Documents and the Settlement (collectively, “Settled Claims”);
provided, however, that notwithstanding the foregoing, the above release shall not extend to Plaintiff’s right to enforce the terms of this Settlement Agreement or to any non-Settled Claims that arose or accrued after execution of this
Settlement Agreement; 
 (b) The Releasing Persons waive their rights under applicable state law, federal law and common law to the extent
such laws may have the effect of limiting the releases set forth above, including a specific waiver by the Releasing Persons of all claims which the Releasing Persons do not know or expect to exist at the time of the release, and any rights pursuant
to California Civil Code Section 1542, or any similar, comparable or equivalent provision of the law of any other jurisdiction, which provides: 

A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing
the release, which if known by him or her must have materially affected his or her settlement with the debtor; 
 (c) Defendants RELEASE,
ACQUIT AND FOREVER DISCHARGE Plaintiff, the Releasing Persons, and Plaintiff’s counsel from all claims arising out of the commencement, prosecution, settlement or resolution of the Settled Claims; provided, however, that the Released Persons
shall retain the right to enforce the terms of this Settlement Agreement; 
 (d) In the event this Settlement Agreement becomes null and
void, the existence or terms of this Settlement Agreement shall not be used as evidence in this or in any other proceeding, and may not be the basis or used as evidence to attack Plaintiff’s standing in any capacity. 

  
 PAGE 10

 5. This Settlement Agreement shall be executed by or on behalf of each of the Parties, each of
whom represents and warrants that he/she has the authority to enter into this Settlement Agreement and bind the Party on whose behalf he/she signs below. 

6. Warranties. 
 (a) Plaintiff
represents and warrants that Plaintiff is the only holder and owner of the claims and causes of action released herein, and that none of the claims released herein have been assigned, encumbered or in any manner transferred in whole or in part.
Plaintiff further represents that neither is aware of any alleged breaches of fiduciary duty concerning any other PMC filings or press releases beyond those released herein. 

(b) CIM represents and warrants that Buyer has the authority and wherewithal to effectuate and complete the purchase of the Group’s Shares
pursuant to the Put Right as outlined in this Settlement Agreement, and that CIM knows of no reasons, contingencies, legal or regulatory restrictions or events that would interfere with Buyer’s ability to perform said promises. 

7. EACH PARTY FURTHER REPRESENTS AND WARRANTS THAT HE/IT HAS BEEN FULLY INFORMED AND HAS FULL KNOWLEDGE OF THE TERMS, CONDITIONS AND EFFECTS OF
THIS SETTLEMENT AGREEMENT, THAT HE/IT (EITHER THROUGH HIS/ITS PARTNERS, TRUSTEES, OFFICERS, AGENTS OR INDEPENDENTLY RETAINED ATTORNEYS) HAS FULLY INVESTIGATED TO HIS/ITS SATISFACTION ALL FACTS SURROUNDING THE VARIOUS CLAIMS, CONTROVERSIES AND
DISPUTES AND IS FULLY SATISFIED WITH THE TERMS AND EFFECTS OF THIS SETTLEMENT AGREEMENT, THAT NO PROMISE OR INDUCEMENT HAS BEEN OFFERED OR MADE TO HIM/IT BY ANY OTHER PARTY 

  
 PAGE 11

 
EXCEPT AS EXPRESSLY STATED IN THIS SETTLEMENT AGREEMENT, AND THAT THIS SETTLEMENT AGREEMENT IS EXECUTED WITHOUT RELIANCE ON ANY STATEMENT OR REPRESENTATION BY ANY OTHER PARTY THAT IS NOT
EXPRESSLY REFERRED TO IN THIS SETTLEMENT AGREEMENT. 
 8. This Settlement Agreement and the Settlement shall be governed by and construed in
accordance with the laws of the State of Texas, without regard to any principles governing choice of law. The Parties agree that any dispute arising out of or relating in any way to this Settlement Agreement or the Settlement shall not be litigated
or otherwise pursued in any forum or venue other than the Court. 
 9. This Settlement Agreement may be modified or amended only by a
writing, signed by all of the signatories hereto, that refers specifically to this Settlement Agreement. 
 10. The provisions contained in
this Settlement Agreement shall not be deemed a presumption, concession or admission by any Defendant of any fault, liability or wrongdoing as to any facts or claims that have been or might be alleged or asserted in the Action, or any other action
or proceeding that has been, will be, or could be brought, and shall not be interpreted, construed, deemed, invoked, offered, or received in evidence or otherwise used by any person in the Action, or in any other action or proceeding, whether civil,
criminal or administrative, for any purpose other than as provided expressly herein. 
 11. The Parties agree that they will not disparage,
denigrate or discredit or seek to harm the reputation of any other Party in relation to this dispute or Settlement to any third parties. Nothing in this paragraph shall be construed as prohibiting the Parties from providing truthful testimony,
responding to a subpoena, or cooperating with any government official or agency, or from truthfully communicating with any government official or agency. 

  
 PAGE 12

 12. The Parties agree that the only discussion with any news media, and the only publicity in
connection with this settlement, will be the terms of the agreed upon press release attached hereto as Exhibit A. Other than the attached press release, the Parties are allowed to disclose the terms of this Settlement (including to file this
Settlement Agreement) and the implications thereof to the extent any of their respective counsel reasonably believes is required to comply with such party’s disclosure obligations to shareholders or investors or the Court or otherwise to comply
with disclosure obligations under federal or state law. The Parties may respond to any inquiries from PMC shareholders or CIM investors or the news media that the case settled on mutually beneficial terms and that Plaintiff now supports the Proposed
Transaction and all proposals presented to PMC’s shareholders at the PMC Shareholder Vote. The Parties acknowledge and agree that the terms of the Agreed Protective Order entered in the Action remain effective and are not amended in this
Settlement Agreement. 
 13. This Settlement Agreement shall be binding upon and inure to the benefit of the Parties and their respective
agents, executors, heirs, successors and assigns, except that the obligations set forth in Paragraph 1 (the Put Right) may not be assigned without the written consent of Plaintiff. Members of the 13D Group shall have the right to enforce the terms
of Paragraphs 1, 4(c) and 11 of this Settlement Agreement against the applicable Parties to the Settlement Agreement. 
 14. This Settlement
Agreement may be executed in any number of actual or electronic copies of counterparts and by each of the different Parties on several counterparts, each of which when so executed and delivered will be an original. The executed signature page(s)
from each actual or electronic copy of a counterpart may be joined together and attached and will constitute one and the same instrument. 

  
 PAGE 13

 IN WITNESS WHEREOF, the Parties have executed this Settlement Agreement effective as of January
28, 2014. 
  

							
	AGREED TO:	 	 	 	 
			
	PMC COMMERCIAL TRUST	 		 	
				
	By:	 	 *
	 		 	 January 29, 2014

		 		 		 	Date
			
	CIM URBAN REIT, LLC	 		 	
				
	By:	 	 /s/ David Thompson
	 		 	 January 29, 2014

		 	Name: David Thompson	 		 	Date
		 	Title: Vice President and Chief Financial Officer	 		 	
			
	SOUTHFORK MERGER SUB, LLC	 		 	
				
	By:	 	 *
	 		 	 January 29, 2014

		 		 		 	Date
			
	REIT REDUX LP	 		 	
				
	BY:	 	 **
	 		 	 January 29, 2014

		 	Robert Stetson, President,	 		 	Date
		 	REIT REDUX LLC, General Partner	 		 	
			
	 *
	 		 	 January 29, 2014

	JAN SALIT, Individually	 		 	Date
			
	 *
	 		 	 January 29, 2014

	BARRY BERLIN, Individually	 		 	Date

  
 PAGE 14

							
	 *
	 		 	 January 29, 2014

	Dr. MARTHA ROSEMORE MORROW, Individually	 	 	 	Date
			
	 *
	 	 	 	 January 29, 2014

	NAT COHEN, Individually	 		 	Date
			
	 *
	 		 	 January 29, 2014

	BARRY IMBER, Individually	 		 	Date

			
		
	*By:	 	Karl G. Dial
		 	Executed by Karl G. Dial with authorization
		
	**By:	 	James H. Kropp
		 	James H. Kropp

  
 PAGE 15

 Exhibit A 

Press Release 
 See Exhibit
99.1 to this 
 Current Report on Form 8-K 

  
 PAGE 16EX-10.3

 Exhibit 10.3 

FORM OF 
 EMPLOYEE
MATTERS AGREEMENT 
 by and between 

DOVER CORPORATION 
 and

 KNOWLES CORPORATION 

Dated as of [    ], [            ] 

 EMPLOYEE MATTERS AGREEMENT 

THIS EMPLOYEE MATTERS AGREEMENT (this “Agreement”), is entered into as of
[            ], by and between Dover Corporation, a Delaware corporation (“Dover”), and Knowles Corporation, a Delaware corporation (“Knowles” and together with Dover,
the “Parties” and each a “Party”). 
 WHEREAS, the board of directors of Dover has determined that it is in the best
interests of Dover and its shareholders to create a new publicly traded company which shall operate the Knowles Business; 
 WHEREAS, in
furtherance thereof Dover and Knowles have entered into that certain Separation and Distribution Agreement dated [            ] (the “Separation Agreement”); and 

WHEREAS, as contemplated by the Separation Agreement, Dover and Knowles desire to enter into this Agreement to provide for the allocation of
Assets, Liabilities, and responsibilities with respect to certain matters relating to employees (including employee compensation and benefit plans and programs) between them. 

NOW, THEREFORE, the Parties, intending to be legally bound, agree as follows: 

ARTICLE I 
 DEFINITIONS 

Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Separation Agreement. For purposes of this
Agreement the following terms shall have the following meanings: 
 1.1 “Adjusted Dover Option” shall have the meaning set forth
in Section 5.2(a). 
 1.2 “Adjusted Dover RSU” shall have the meaning set forth in Section 5.3(a). 

1.3 “Adjusted Stock Appreciation Right” shall have the meaning set forth in Section 5.2(a). 

1.4 “Assets” shall have the meaning set forth in the Separation Agreement. 

1.5 “COBRA” means the continuation coverage requirements for “group health plans” under Title X of the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended, and as codified in Code Section 4980B and ERISA Sections 601 through 608. 
 1.6
“Code” means the Internal Revenue Code of 1986, as amended, or any successor federal income tax law. Reference to a specific Code provision also includes any proposed, temporary, or final regulation in force under that provision. 

1.7 “Distribution Date” shall have the meaning set forth in the Separation Agreement. 

 1.8 “Dover 401(k) Plan” means the Dover Corporation Retirement Savings Plan. 

1.9 “Dover Deferred Compensation Plan” means the Dover Corporation Deferred Compensation Plan, as amended and restated as of
January 1, 2009. 
 1.10 “Dover Employee” means (i) any individual who, as of the applicable date of determination, is
either actively employed by or then on a leave of absence from any member of the Dover Group (including maternity, paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment
and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves), but does not include any Knowles Employee or (ii) any individual who is deemed to be a Dover Employee pursuant to Section 2.3 of
this Agreement. 
 1.11 “Dover Equity-Based Plans” means the 2012 Equity and Cash Incentive Plan, the 2005 Equity and Cash
Incentive Plan, and the 1995 Incentive Stock Options Plan, each as amended from time to time. 
 1.12 “Dover Group” shall have the
meaning set forth in the Separation Agreement. 
 1.13 “Dover Participant” means any individual who is a Dover Employee, a Former
Dover Employee or a beneficiary, dependent, alternate payee or other person participating in a Dover Plan in respect of either of the foregoing. 

1.14 “Dover Pension Replacement Plan” means the Dover Corporation Pension Replacement Plan, as amended and restated as of
January 1, 2010. 
 1.15 “Dover Ratio” shall have the meaning set forth in Section 5.2(a)(i). 

1.16 “Dover Technologies International, Inc. Supplemental Executive Retirement Plan” means the Dover Technologies International,
Inc. Supplemental Executive Retirement Plan effective as of January 1, 1995. 
 1.17 “Dover U.S. Pension Plan” means the
Dover Corporation Pension Plan, a United States defined benefit pension plan. 
 1.18 “Effective Time” means 11:59 p.m., New York
City, New York time, on the Distribution Date. 
 1.19 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. Reference to a specific provision of ERISA also includes any proposed, temporary, or final regulation in force under that provision. 

1.20 “Former Dover Employee” means, as of the applicable date of determination, any individual whose employment with either Party or
any of its respective Subsidiaries and Affiliates terminated for any reason before such applicable date, other than a Former Knowles Employee. 

1.21 “Former Employee” means any individual who is a Former Dover Employee or a Former Knowles Employee. 

1.22 “Former Knowles Employee” means, as of the applicable date of determination, any individual whose employment with either Party
or any of its respective Subsidiaries and Affiliates terminated for any reason before such applicable date, and who primarily worked for a Knowles Business at the time of his or her termination of employment. 

  
 2 

 1.23 “Health and Welfare Plans,” when immediately preceded by “Dover,” means
the health and welfare plans established and sponsored by any member of the Dover Group, and when immediately preceded by “Knowles,” means the health and welfare plans sponsored and maintained by any member of the Knowles Group before or
after the Plan Separation Date, in each case excluding any governmental plans. 
 1.24 “HIPAA” means the health insurance
portability and accountability requirements for “group health plans” under the Health Insurance Portability and Accountability Act of 1996, as amended. 

1.25 “Incentive Stock Option” means an option which qualifies as an incentive stock option under the provisions of Section 422
of the Code. 
 1.26 “Individual Agreement” means an individual employment Contract entered into between a member of the Dover
Group and a Knowles Employee. 
 1.27 “Knowles 401(k) Plan” means the Knowles Corporation 401(k) Plan, a tax-qualified 401(k)
defined contribution savings plan to be established by a member of the Knowles Group prior to the Plan Separation Date. 
 1.28
“Knowles Employee” means (i) any individual who, as of the applicable date of determination, is either actively employed by or then on a leave of absence from any member of the Knowles Group (including maternity, paternity, family,
sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves) or (ii) any
individual who is deemed to be a Knowles Employee pursuant to Section 2.2 of this Agreement. 
 1.29 “Knowles Group” shall
have the meaning set forth in the Separation Agreement. 
 1.30 “Knowles Long Term Incentive Plan” means the Knowles Corporation
2014 Equity and Cash Incentive Plan adopted by Knowles prior to the Effective Time. 
 1.31 “Knowles Participant” means any
individual who is a Knowles Employee, a Former Knowles Employee, a member of or other participant in a Knowles Plan, or a beneficiary, dependent, alternate payee or other person participating in a Knowles Plan in respect of the foregoing persons.

 1.32 “Knowles Ratio” shall have the meaning set forth in Section 5.2(b)(i). 

1.33 “Liabilities” shall have the meaning set forth in the Separation Agreement. 

1.34 “Local Agreement” means any local transfer agreement that provides for the transfer of Assets and the assumption of Liabilities
relating to, arising out of or resulting from the transactions contemplated by the Separation Agreement. 

  
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 1.35 “Option” when immediately preceded by “Dover,” means an option (either
nonqualified or an Incentive Stock Option) to purchase shares of Dover Common Stock pursuant to a Dover Equity-Based Plan and, when immediately preceded by “Knowles,” means an option to purchase shares of Knowles Common Stock, which option
is granted pursuant to the Knowles Long Term Incentive Plan as set forth in Section 5.2. 
 1.36 “Participating Company”
means (a) Dover, (b) any Person (other than an individual) that Dover has approved for participation in, and which is a participating employer in, a Plan and (c) any Person (other than an individual) which, by the terms of such a
Plan, is a participating employer in such Plan. 
 1.37 “Plan,” when immediately preceded by “Dover,” means any plan,
policy, program, payroll practice, on-going arrangement, Contract, trust, insurance policy or other agreement or funding vehicle (including a Health and Welfare Plan) for which the eligible classes of participants include employees or former
employees (and their eligible dependents) of a member of the Dover Group or, prior to the Plan Separation Date only, a member of the Knowles Group, and when immediately preceded by “Knowles,” means any plan, policy, program, payroll
practice, on-going arrangement, Contract, trust, insurance policy or other agreement or funding vehicle (including a Health and Welfare Plan) which is sponsored by the members of the Knowles Group or for which the eligible classes of participants
include employees or former employees (and their eligible dependents) of members of the Knowles Group. 
 1.38 “Plan Separation
Date” means December 31, 2013, or such other date as determined by Dover. 
 1.39 “Post-Distribution Price” with respect
to a share of common stock, means the average closing price for such common stock for the five (5) consecutive trading days immediately following the Distribution Date. 

1.40 “Pre-Distribution Price” with respect to a share of common stock, means the average closing price for such common stock trading
on the “regular way” basis on the New York Stock Exchange for the five (5) consecutive trading days immediately preceding (and including) the Distribution Date. 

1.41 “Restricted Stock Unit,” when immediately preceded by “Dover,” means a unit granted or provided by Dover pursuant to
a Dover Equity-Based Plan or the Dover Deferred Compensation Plan, representing a general unsecured promise by Dover to deliver a share (or cash in respect of a share) of Dover Common Stock, and when immediately preceded by “Knowles,”
means a unit granted by Knowles representing a general unsecured promise by Knowles to deliver a share of Knowles Common Stock, which unit is granted pursuant to the Knowles Long Term Incentive Plan as set forth in Section 5.3. 

1.42 “Stock Appreciation Right,” when immediately preceded by “Dover,” means a right to receive a payment in shares of
Dover Common Stock equal in value to the increase in value in shares of Dover Common Stock over a designated strike price pursuant to a Dover Equity-Based Plan and, when immediately preceded by “Knowles,” means a right to receive a payment
in shares of Knowles Common Stock equal in value to the increase in value in shares of Knowles Common Stock over a designated strike price, which right is granted pursuant to the Knowles Long Term Incentive Plan as set forth in Section 5.2.

  
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 ARTICLE II 

TRANSFER OF KNOWLES EMPLOYEES; GENERAL PRINCIPLES 

2.1 In General. All provisions herein shall be subject to the requirements of all applicable Law and any collective bargaining, works
council or similar Contract or arrangement with any labor union. The provisions of this Agreement shall apply in respect of all jurisdictions wherever situated in accordance with applicable Law. Notwithstanding the immediately preceding sentence, to
the extent the provisions of this Agreement conflict with the provisions of a Local Agreement or, in respect of jurisdictions outside of the United States, with the terms of an offer letter or other Contract entered into with a Knowles Employee or a
Dover Employee, the terms of such Local Agreement, offer letter or other Contract shall govern. 
 2.2 Transfer of Employment of Certain
Knowles Employees. Dover and Knowles will use reasonable efforts to cause the employment of any individual who Dover designates as a Knowles Employee and who is not employed by the Knowles Group as of the Plan Separation Date to be transferred
to the Knowles Group prior to the Effective Time. Each such individual shall be deemed to be a Knowles Employee and the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the compensation and
benefits of such individuals following such transfer. 
 2.3 Transfer of Employment of Certain Dover Employees. Dover and Knowles
will use reasonable efforts to cause the employment of any individual who Dover designates as a Dover Employee and who is not employed by the Dover Group as of the Plan Separation Date to be transferred to the Dover Group prior to the Effective
Time. Each such individual shall be deemed to be a Dover Employee and the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the compensation and benefits of such individuals following such
transfer. 
 2.4 Assumption and Retention of Liabilities. 

(a) Dover and Knowles intend that all employment, compensation and employee benefits-related Liabilities associated with Knowles Participants
are to be assumed by Knowles or another member of the Knowles Group, except as specifically set forth herein. Except as expressly provided in this Agreement, as of the Effective Time, Knowles or another member of the Knowles Group hereby retains or
assumes and agrees to pay, perform, fulfill, and discharge the following Liabilities, in all events whether arising prior to, on or following the Effective Time: (i) all Liabilities arising under or related to Knowles Plans, (ii) all
employment, compensation, employee benefits or service-related Liabilities with respect to (A) all Knowles Participants, and (B) any individual who is, or was, an independent contractor, temporary employee, temporary service worker,
consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other employment or similar relationship primarily connected to a member of the Knowles Group, (iii) all Liabilities
retained or assumed by Knowles or a member of the Knowles Group pursuant to the terms of the Local Agreements and (iv) all Liabilities expressly transferred to a member of the Knowles Group under this Agreement. 

  
 5 

 (b) Dover and Knowles intend that all employment, compensation and employee benefits-related
Liabilities associated with Dover Participants are to be assumed by Dover or another member of the Dover Group, except as specifically set forth herein. Except as expressly provided in this Agreement, as of the Effective Time, Dover or another
member of the Dover Group hereby retains or assumes and agrees to pay, perform, fulfill, and discharge the following Liabilities, in all events whether arising prior to, on or following the Effective Time: (i) all Liabilities arising under or
related to Dover Plans, (ii) all employment, compensation, employee benefits, or service-related Liabilities with respect to (A) all Dover Participants as of the Effective Time and (B) any individual who is or was, an independent
contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other employment or similar relationship primarily connected to a
member of the Dover Group, (iii) all Liabilities retained or assumed by Dover or a member of the Dover Group pursuant to the terms of the Local Agreements and (iv) all Liabilities expressly transferred to a member of the Dover Group under
this Agreement. 
 (c) All Liabilities retained or assumed by or allocated to (i) Knowles or any member of the Knowles Group pursuant
to this Agreement shall be deemed to be Knowles Liabilities for purposes of Article VIII (and related sections) of the Separation Agreement and (ii) Dover or any member of the Dover Group pursuant to this Agreement shall be deemed to be Dover
Liabilities for purposes of Article VIII (and related sections) of the Separation Agreement. 
 2.5 Assumption of Employee
Liabilities. Knowles shall assume and be solely responsible for the administration of severance, indemnity or other termination pay or other similar benefits in accordance with the terms and conditions of the applicable severance plan or policy
in effect as of the date of the applicable termination of employment (i) relating to or resulting from (A) the Knowles Group’s failure to offer employment to any Knowles Employee (or failure to continue the employment of any Knowles
Employee following the Plan Separation Date), (B) the Knowles Group’s failure to offer or continue employment on terms and conditions which would preclude any claims of constructive dismissal or similar claims under any applicable Law or
(C) any failure by the Knowles Group to comply with the terms of this Agreement prior to the Effective Date or (ii) where such severance, indemnity or termination pay or other benefits are required to be paid under applicable Law or a Plan
upon the applicable date of the employee’s transfer without regard to such terms and conditions or such continuation of employment. 

2.6 Cessation as Participating Companies. Effective as of the Plan Separation Date, (i) each member of the Knowles Group shall
have ceased to be Participating Companies in any Dover Plan, (ii) each member of the Dover Group shall have ceased to be Participating Companies in any Knowles Plan and (iii) Dover and Knowles shall have taken all necessary action to
effectuate such cessations as Participating Companies. 
 2.7 No Duplication of Benefits; Service and Other Credit. Dover and Knowles
shall have adopted, or caused to have been adopted, all reasonable and necessary amendments and procedures to prevent Knowles Participants from receiving duplicative benefits from the Dover Plans and the Knowles Plans. With respect to Knowles
Participants, each Knowles Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to 

  
 6 

 
benefits (but not for accrual of pension benefits under any defined benefit pension plan), service prior to the Plan Separation Date with a member of the Dover Group shall be treated as service
with a member of the Knowles Group. The Parties shall use their reasonable efforts so that such service also shall apply for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting
condition limitations under any Knowles Plan. Each Knowles Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to Knowles Participants. Knowles shall use reasonable efforts to honor any deductible, co-payment
and out-of-pocket maximums incurred by the Knowles Participants under the Dover Plans in which they participated immediately prior to the Plan Separation Date, if any, in satisfying any deductibles, co-payments or out-of-pocket maximums under the
Knowles Plans in which they are eligible to participate after the Plan Separation Date in the same plan year in which any such deductibles, co-payments or out-of-pocket maximums were incurred. 

2.8 Reimbursements. From time to time after the Effective Time, the Parties shall promptly reimburse one another, upon reasonable
request of the Party requesting reimbursement and the presentation by such Party of such substantiating documentation as the other Party shall reasonably request, for the cost of any Liabilities satisfied or assumed by the Party requesting
reimbursement or its Affiliates that are made, pursuant to this Agreement, the responsibility of the other Party or any of its Affiliates. 

2.9 Labor Relations. To the extent required by applicable Law or any Contract or arrangement with a labor union, works council or
similar employee organization, Knowles shall provide notice, engage in consultation and take any similar action which may be required on its part in connection with the Distribution and shall fully indemnify each member of the Dover Group against
any Liabilities arising from its failure to comply with such requirements. 
 ARTICLE III 

DEFINED CONTRIBUTION, DEFINED BENEFIT AND NON-QUALIFIED DEFERRED 

COMPENSATION PLANS IN THE UNITED STATES 

3.1 Defined Contribution Plan. 

(a) Establishment of Plan and Trust. Prior to the Plan Separation Date, Dover and Knowles shall have adopted, or caused to have been
adopted, the Knowles 401(k) Plan and any trust agreements or other plan documents reasonably necessary and shall have caused trustees to be appointed for such plan. 

(b) Assumption of Liabilities and Transfer of Assets. In accordance with applicable Law, Dover and Knowles shall have caused, in the
manner described herein, the accounts under the Dover 401(k) Plan of each Knowles Employee to be transferred to the Knowles 401(k) Plan as of the Plan Separation Date or as soon as practicable thereafter. As of the Plan Separation Date:
(i) Dover shall have used reasonable efforts to cause the accounts (including any outstanding loan balances) of each Knowles Employee as of such date and in the Dover 401(k) Plan to be transferred to the Knowles 401(k) Plan and its related
trust; (ii) the Knowles 401(k) Plan shall have used reasonable efforts to assume and be solely responsible for all Liabilities under the 

  
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Knowles 401(k) Plan relating to the accounts that are so transferred as of the time of such transfer; and (iii) Knowles shall have used reasonable efforts to cause such transferred accounts
to be accepted by the Knowles 401(k) Plan and its related trust and shall have caused the Knowles 401(k) Plan to satisfy all protected benefit requirements under the Code and applicable Law with respect to the transferred accounts. 

(c) Service Credit. In determining whether a Knowles Employee is vested in his or her account under the Knowles 401(k) Plan, the
Knowles 401(k) Plan shall have credited each Knowles Employee with all the individual’s service credited under the Dover 401(k) Plan. 

(d) Employer Securities. Dover and Knowles each presently intend to preserve the right of Dover Participants and Knowles Participants
to receive distributions in kind of employer securities from, respectively, the Dover 401(k) Plan and the Knowles 401(k) Plan, if, and to the extent, investments under such plans are comprised of Knowles Common Stock or Dover Common Stock;
provided, that, Dover shall cause the Dover 401(k) Plan to provide that, no later than eighteen (18) months following the Distribution Date, the Dover 401(k) Plan shall hold no separate investment fund comprised of Knowles Common
Stock and Knowles shall cause the Knowles 401(k) Plan to provide that, no later than eighteen (18) months following the Distribution Date, the Knowles 401(k) Plan shall not hold a separate investment fund comprised of Dover Common Stock. Each
of Knowles and Dover shall authorize the appropriate plan fiduciary to determine, in its discretion, the extent to which and when Dover Common Stock (in the case of the Knowles 401(k) Plan) and Knowles Common Stock (in the case of the Dover 401(k)
Plan) shall cease to be investment alternatives thereunder. 
 3.2 U.S. Defined Benefit Pension Plan. Dover shall retain and be
solely responsible for all Liabilities and obligations with respect to Knowles Participants under the Dover U.S. Pension Plan, and accordingly there shall be no transfer of Assets or Liabilities among Dover, Knowles, any of their Affiliates or their
respective plans in respect of the Dover U.S. Pension Plan. No Knowles Participant shall accrue any additional benefits under the Dover U.S. Pension Plan following the Plan Separation Date. Effective as of the Plan Separation Date, each Knowles
Participant who participates in the Dover U.S. Pension Plan shall become 100% vested in all benefits provided under such plan. 
 3.3
Non-Qualified Deferred Compensation Plans. No Knowles Participant shall accrue any additional benefits under the Dover Pension Replacement Plan, defer any compensation under the Dover Deferred Compensation Plan, or be credited with any
additional supplemental accruals under the Dover Technologies International, Inc. Supplemental Executive Retirement Plan, in each case, attributable to services performed on or after January 1, 2014. For the avoidance of doubt, the account
balance of each Knowles Participant under the Dover Deferred Compensation Plan shall continue to change based on the Knowles Participant’s individual investment elections. Effective as of the Plan Separation Date, Knowles shall assume all Dover
Pension Replacement Plan Liabilities, the Dover Deferred Compensation Plan Liabilities, and the Dover Technologies International, Inc. Supplemental Executive Retirement Plan Liabilities with respect to each Knowles Employee who participates in such
plans. The treatment of benefits under each nonqualified deferred compensation plan shall comply with Section 409A of the Code, to the extent subject thereto. 

  
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 ARTICLE IV 

HEALTH AND WELFARE PLANS 
 4.1
Cessation of Participation in Dover Health and Welfare Plans. Prior to the Plan Separation Date, Dover shall have caused Knowles to establish Knowles Health and Welfare Plans which generally correspond to the Dover Health and Welfare Plans
which provide group health, life, dental, accidental death and dismemberment, health care reimbursements, dependent care assistance and disability benefits in which certain Knowles Participants participated immediately prior to the Plan Separation
Date. As of the Plan Separation Date, such Knowles Participants shall have ceased to participate in the Dover Health and Welfare Plans in which they participated and shall have commenced participation in the corresponding Knowles Health and Welfare
Plan. Knowles shall have caused those Knowles Participants who participate in Dover Health and Welfare Plans immediately before the Plan Separation Date to be automatically enrolled as of the Plan Separation Date in Knowles Health and Welfare Plans
corresponding to the Dover Health and Welfare Plans in which such Knowles Participants participated immediately before the Plan Separation Date. The transfer of employment from a member of the Dover Group to a member of the Knowles Group prior to or
as of the Effective Time shall not be treated as a “status change” with respect to any Knowles Employee under the Dover Health and Welfare Plans or the Knowles Health and Welfare Plans. 

4.2 Allocation of Health and Welfare Plan Liabilities. 

(a) Except as set forth in Section 4.2(b), Dover shall retain and be solely responsible for all outstanding Liabilities relating to,
arising out of, or resulting from health and welfare coverage or claims incurred by Knowles Participants under the Dover Health and Welfare Plans on or before the Plan Separation Date. 

(b) Knowles shall assume and be solely responsible for any outstanding Liabilities relating to, arising out of, or resulting from short-term
disability coverage for Knowles Participants under the Dover Health and Welfare Plans on or before the Plan Separation Date. 
 4.3
Flexible Spending Plan Treatment in the United States. Prior to the Plan Separation Date, Dover shall have caused Knowles to establish a dependent care spending account and a medical care spending account under a cafeteria plan meeting the
requirements of Section 125 of the Code (the “Knowles FSAs”) effective as of the Plan Separation Date, which Knowles FSAs have terms that are substantially identical to the analogous Dover cafeteria plan, dependent care and
medical care flexible spending accounts (the “Dover FSAs”) as in effect immediately prior to the Plan Separation Date. Knowles and Dover shall have taken all steps necessary or appropriate so that the account balances (if any) under
the Dover FSAs of each Knowles Employee who elected to participate therein shall have been transferred, as soon as practicable after the Plan Separation Date from the Dover FSAs to the corresponding Knowles FSAs. The Knowles FSAs shall have assumed
responsibility as of the Plan Separation Date for all outstanding dependent care and medical care claims under the Dover FSAs of each Knowles Employee and shall have assumed and agreed to perform the obligations from and after the Plan Separation
Date. Knowles shall have taken all steps necessary or appropriate so that the contribution elections of each such Knowles Employee as in effect immediately before the Plan Separation Date (if any) remain in effect under the Knowles FSAs following
the Plan Separation Date. As soon as practicable after 

  
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the Plan Separation Date, Dover shall have transferred to Knowles an amount equal to the total contributions made to the Dover FSAs by Knowles Employees in respect of the plan year in which the
Effective Time occurs, reduced by an amount equal to the total claims already paid to Knowles in respect of such plan year, if any. From and after the Plan Separation Date, Dover shall provide Knowles with such information such entity may reasonably
request to enable it to verify any claims information pertaining to a Dover FSA. 
 4.4 Workers’ Compensation Liabilities. All
workers’ compensation Liabilities relating to, arising out of, or resulting from any claim by Knowles Employees or Former Knowles Employees that result from an accident or from an occupational disease which is incurred or becomes manifest, as
the case may be, on or before the Effective Time and while such individual was employed by either Party or its respective Affiliates or Subsidiaries shall be assumed, or retained as the case may be, by Knowles as of the Effective Time. Each member
of the Knowles Group shall also be solely responsible for all workers’ compensation Liabilities relating to, arising out of, or resulting from any claim incurred for a compensable injury sustained by a Knowles Employee or Former Knowles
Employee that results from an accident or from an occupational disease which is incurred or becomes manifest, as the case may be, after the Effective Time. Each member of the Dover Group and the Knowles Group shall cooperate with respect to any
notification to appropriate governmental agencies of the disposition and the issuance of new, or the transfer of existing, workers’ compensation insurance policies and claims handling contracts. 

4.5 Payroll Taxes and Reporting. Dover and Knowles shall, to the extent practicable, (i) treat Knowles (or a member of the Knowles
Group designated by Knowles) as a “successor employer” and Dover (or the appropriate member of the Dover Group) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Knowles
Employees for purposes of Taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each other to avoid, to the extent possible, the filing of more than
one IRS Form W-2 with respect to each Knowles Employee for the year in which the Effective Time occurs. Without limiting in any manner the obligations and Liabilities of the Parties under the Tax Matters Agreement, each member of the Dover Group and
each member of the Knowles Group shall each bear its responsibility for payroll Tax obligations and for the proper reporting to the appropriate Governmental Entities of compensation earned by their respective employees after the Effective Time,
including compensation related to the exercise of Options or the vesting or exercise of other equity awards. 
 4.6 COBRA and HIPAA
Compliance in the United States. As of the Plan Separation Date, Knowles shall have assumed and be responsible for administering compliance with the health care continuation requirements of COBRA and the certificate of creditable coverage
requirements of HIPAA, in accordance with the provisions of the Knowles Health and Welfare Plans, with respect to Knowles Participants who incurred a COBRA qualifying event or loss of coverage under the Dover Health and Welfare Plans at any time on
or before the Plan Separation Date. Knowles shall also be responsible for administering compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding
provisions of the Knowles Health and Welfare Plans with respect to Knowles Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the Knowles Health and Welfare Plans at any time after the Plan Separation
Date. 

  
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 4.7 Vacation and Paid Time Off. As of the Plan Separation Date, the applicable member of
the Knowles Group shall have credited each Knowles Employee with the unused vacation days and personal and sickness days that such individual has accrued immediately prior to the Plan Separation Date (not previously paid or required to be paid) in
accordance with the vacation and personnel policies applicable to such employee immediately prior to the Plan Separation Date. 
 ARTICLE V

 INCENTIVE COMPENSATION, EQUITY COMPENSATION AND OTHER BENEFITS 

5.1 Cash-Based Incentives. 

(a) Annual Cash Incentives and Commissions. At the regularly scheduled payment date, Knowles shall pay each Knowles Employee, and
Dover shall pay each Dover Employee, who is participating in an annual cash incentive bonus or commission program of a member of the Dover Group such Knowles Employee’s and such Dover Employee’s (as applicable) annual incentive bonus or
commission under the applicable plan, based on actual performance for 2013. 
 (b) 2013 Long-term Cash Incentives. At the regularly
scheduled payment date, Knowles shall pay each Knowles Employee, and Dover shall pay each Dover Employee, who is participating in Dover’s long-term cash incentive program that relates to a performance period ending on or before
December 31, 2013 such Knowles Employee’s and such Dover Employee’s (as applicable) incentive award under such program, based on actual performance. 

(c) Long-term Cash Incentives. Each Dover long-term cash incentive award that is held by a Knowles Employee with a performance period
that extends beyond the Effective Time will be canceled and forfeited as of the Effective Time. 
 5.2 Stock Options and Stock
Appreciation Rights. 
 (a) Dover Options and Stock Appreciation Rights. Each Dover Option and Dover Stock Appreciation Right
that is outstanding immediately prior to the Effective Time and that is held by a Dover Employee or a Former Employee shall be adjusted as of the Effective Time (and shall thereafter be referred to as an “Adjusted Dover Option” or
“Adjusted Stock Appreciation Right”) as follows: 
 (i) The number of shares of Dover Common Stock subject
to each Adjusted Dover Option and each Adjusted Stock Appreciation Right shall be equal to the product (rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the
corresponding Dover Option or Dover Stock Appreciation Right immediately prior to the Effective Time and (B) a fraction, the numerator of which is the Pre-Distribution Price of a share of Dover Common Stock and the denominator which is the
Post-Distribution Price of a share of Dover Common Stock (such fraction, the “Dover Ratio”). 

  
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 (ii) The exercise price per share for each Adjusted Dover Option and the base
price per share for each Adjusted Stock Appreciation Right shall be equal to (rounded up to the nearest whole cent) (A) the exercise price or base price (as the case may be) of the corresponding Dover Option or Dover Stock Appreciation Right
immediately prior to the Effective Time divided by (B) the Dover Ratio. 
 (iii) Each Adjusted Dover Option and
Adjusted Stock Appreciation Right shall otherwise be subject to the same terms, vesting conditions, exercise procedures, expiration dates and termination provisions and other terms and conditions as were in effect immediately prior to the Effective
Time for the corresponding Dover Option and Dover Stock Appreciation Right. 
 (b) Knowles Options and Stock Appreciation Rights.
Each Dover Option and Dover Stock Appreciation Right that is outstanding immediately prior to the Effective Time and that is held by a Knowles Employee shall, as of the Effective Time, be cancelled and immediately replaced with a Knowles Option or a
Knowles Stock Appreciation Right (as applicable) as follows: 
 (i) The number of shares of Knowles Common Stock subject to
each Knowles Option and each Knowles Stock Appreciation Right shall be equal to the product (rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover
Option or Dover Stock Appreciation Right immediately prior to the Effective Time and (B) a fraction, the numerator of which is the Pre-Distribution Price of a share of Dover Common Stock and the denominator of which is the Post-Distribution
Price of a share of Knowles Common Stock (such fraction, the “Knowles Ratio”). 
 (ii) The exercise price
per share for each Knowles Option and base price per share for each Knowles Stock Appreciation Right shall be equal to (rounded up to the nearest whole cent) (A) the exercise price or base price (as the case may be) of the corresponding Dover
Option or Dover Stock Appreciation Right immediately prior to the Effective Time divided by (B) the Knowles Ratio. 

(iii) Each Knowles Option and Knowles Stock Appreciation Right shall otherwise be subject to the same terms, vesting
conditions, exercise procedures, expiration dates and termination provisions and other terms and conditions as were in effect immediately prior to the Effective Time for the corresponding Dover Option and Dover Stock Appreciation Right. With respect
to each Knowles Option and Knowles Stock Appreciation Right, Knowles shall give each Knowles Employee full service credit for such Knowles Employee’s service with either Party or any of its respective Subsidiaries or Affiliates prior to the
Effective Time to the same extent such service was recognized with respect to the corresponding Dover Option or Dover Stock Appreciation Right immediately prior to the Effective Time. 

  
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 5.3 Restricted Stock Units.  

(a) Dover Restricted Stock Units. Each Dover Restricted Stock Unit that is outstanding immediately prior to the Effective Time and
that is held by a Dover Employee, a Former Employee or a non-employee director shall be adjusted as of the Effective Time (and shall thereafter be referred to as an “Adjusted Dover RSU”) as follows: 

(i) the number of shares of Dover Common Stock subject to each Adjusted Dover RSU shall be equal to the product (rounded down
to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover Restricted Stock Unit immediately prior to the Effective Time and (B) the Dover Ratio. 

(ii) Each Adjusted Dover RSU shall be subject to the same terms, vesting conditions, issuance dates and method of distribution
and other terms and conditions as were in effect immediately prior to the Effective Time for the corresponding Dover Restricted Stock Unit. 

(iii) Notwithstanding the foregoing, the Compensation Committee of the Dover Board of Directors shall adjust the
performance-vesting requirements for any performance-based Adjusted Dover RSUs, in order to reflect the impact of the Distribution upon the performance goals previously established for such units or awards. 

(b) Knowles Restricted Stock Units. Each Dover Restricted Stock Unit that is outstanding immediately prior to the Effective Time and
that is held by a Knowles Employee shall, as of the Effective Time, be cancelled and immediately replaced with a Knowles Restricted Stock Unit, as follows: 

(i) The number of shares of Knowles Common Stock subject to each Knowles Restricted Stock Unit shall be equal to the product
(rounded down to the nearest whole share on an aggregated basis) of (A) the number of shares of Dover Common Stock subject to the corresponding Dover Restricted Stock Unit immediately prior to the Effective Time and (B) the Knowles Ratio.

 (ii) With respect to any performance-based Dover Restricted Stock Units that relate to a performance period ending after
the Effective Time, such Dover Restricted Stock Units shall be replaced with a number of time-based Knowles Restricted Stock Units as calculated pursuant to Section 5.3(b)(i), based on the number of shares of Dover Common Stock that would be
payable upon the settlement of such units upon target-level achievement of the performance goals (and any units not subject to conversion will be forfeited). 

(iii) Except as provided in Section 5.3(b)(ii), each Knowles Restricted Stock Unit shall be subject to the same terms,
vesting conditions, issuance dates and method of distribution and other terms and conditions that were in effect immediately prior to the Effective Time for the corresponding Dover Restricted Stock Unit. With respect to each Knowles Restricted Stock
Unit, Knowles shall give each Knowles Employee full service credit for such Knowles Employee’s service with either Party or any of its 

  
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respective Subsidiaries or Affiliates prior to the Effective Time to the same extent such service was recognized with respect to the corresponding Dover Restricted Stock Unit immediately prior to
the Effective Time. 
 5.4 General. All of the adjustments described in this Article 5 shall be effected in accordance with Sections
424 and 409A of the Code, to the extent subject thereto. 
 5.5 Non-US Grants/Awards. In making the adjustments as described in this
Article 5, the Parties shall use commercially reasonable efforts to preserve, at and after the Effective Time, the value and tax treatment accorded each equity award granted to non-U.S. employees under the Dover Equity-Based Plans. 

5.6 Approval of Plan. Prior to the Effective Time, Dover shall cause Knowles to adopt the Knowles Long Term Incentive Plan. 

5.7 Administration. Each of Dover and Knowles shall establish an appropriate administration system in order to handle exercises
and delivery of shares in an orderly manner and provide reasonable levels of service for equity award holders. 
 5.8 Registration.
The Parties shall use commercially reasonable efforts to maintain effective registration statements with the Commission with respect to the awards described in this Article 5, to the extent any such registration statement is required by applicable
Law. 
 5.9 No Effect on Subsequent Awards. The provisions of this Article 5 shall have no effect on the terms and conditions of
equity and equity-based awards granted following the Distribution Date by Dover or Knowles. 
 5.10 Individual Agreements. Except for
the Individual Agreements set forth on Schedule A, attached hereto, as of the Plan Separation Date, Knowles shall, or shall cause a member of the Knowles Group to assume, and shall thereafter perform, each Individual Agreement with a Knowles
Employee, or if such assumption cannot be effected, Knowles shall use its reasonable best efforts to enter into a successor agreement with the Knowles Employee providing substantially identical terms and conditions of employment. 

ARTICLE VI 
 GENERAL AND
ADMINISTRATIVE 
 6.1 Sharing of Participant Information. To the maximum extent permitted under applicable Law, Dover and Knowles
shall share, and shall cause the members of its respective Group to share, with each other and their respective agents and vendors all participant information reasonably necessary for the efficient and accurate administration of each of the Dover
Plans and the Knowles Plans. Dover and Knowles and their respective authorized agents shall, subject to applicable laws on confidentiality, be given reasonable and timely access to, and may make copies of, all information relating to the subjects of
this Agreement in the custody of the other Party or any member of its Group, to the extent necessary for such administration. Until the Plan Separation Date, all participant information shall be provided in the manner and medium

  
 14 

 
applicable to Participating Companies in the Dover Plans generally, and thereafter until the time at which the Parties subsequently determine, all participant information shall be provided in a
manner and medium that are compatible with the data processing systems of Dover as in effect as of the Plan Separation Date, unless otherwise agreed to by Dover and Knowles. 

6.2 Non-Termination of Employment; No Third Party Beneficiaries. No provision of this Agreement or the Separation Agreement shall be
construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any future, present, or former employee of a member of the Dover Group or the Knowles Group under any Dover Plan or Knowles Plan or
otherwise. Except as expressly provided in this Agreement, nothing in this Agreement shall preclude any member of the Knowles Group, at any time after the Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or
otherwise altering in any respect any Knowles Plan, any benefit under any Knowles Plan or any trust, insurance policy or funding vehicle related to any Knowles Plan; and except as expressly provided in this Agreement, nothing in this Agreement shall
preclude any member of the Dover Group, at any time after the Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Dover Plan, any benefit under any Dover Plan or any trust,
insurance policy or funding vehicle related to any Dover Plan. 
 6.3 Audit Rights with Respect to Information Provided. Each of
Dover and Knowles, and their duly authorized representatives, shall have the right to conduct reasonable audits with respect to all information provided to it by the other Party. The Parties shall cooperate to determine the procedures and guidelines
for conducting audits under this Section 6.3, which shall require reasonable advance notice by the auditing party. The auditing Party shall have the right to make copies of any records at its expense, subject to applicable Law. 

6.4 Fiduciary Matters. Dover and Knowles each acknowledge that actions required to be taken pursuant to this Agreement may be subject
to fiduciary duties or standards of conduct under ERISA or other applicable Law, and no Party shall be deemed to be in violation of this Agreement if it fails to comply with any provisions hereof based upon its good faith determination (as supported
by advice from counsel experienced in such matters) that to do so would violate such a fiduciary duty or standard. Each Party shall be responsible for taking such actions as are deemed necessary and appropriate to comply with its own fiduciary
responsibilities and shall fully release and indemnify the other party for any Liabilities caused by the failure to satisfy any such responsibility. 

6.5 Consent of Third Parties. If any provision of this Agreement is dependent on the consent of any Third Party (such as a vendor or
Governmental Entity) and such consent is withheld, Dover and Knowles shall use commercially reasonable efforts to implement the applicable provisions of this Agreement to the full extent practicable. If any provision of this Agreement cannot be
implemented due to the failure of such Third Party to consent, Dover and Knowles shall negotiate in good faith to implement the provision in a mutually satisfactory manner. The phrase “commercially reasonable efforts” as used herein shall
not be construed to require the incurrence of any non-routine or unreasonable expense or liability or the waiver of any right. 
 6.6
Subsequent Transfers of Employment. To the extent that the employment of any individuals transfers between any member of the Dover Group and any member of the Knowles 

  
 15 

 
Group in the twenty four (24) month period following the Distribution Date, the Parties shall use their reasonable efforts to effect the provisions of this Agreement with respect to the
compensation and benefits of such individuals following such transfer, it being understood that (i) it may not be possible to replicate the effect of such provisions under such circumstances and (ii) neither Dover nor Knowles shall be
bound by the provisions of this Section 6.6 to assume any Liabilities or transfer any Assets. Notwithstanding to foregoing, for compensation subject to the provisions of Section 409A of the Code, any such subsequent transfer shall be a
separation from service from the applicable employer for purposes of such compensation, and the consequences of such separation from service shall be determined in accordance with the terms of the applicable plan or agreement. 

ARTICLE VII 
 MISCELLANEOUS 

7.1 Complete Agreement. This Agreement, the Separation Agreement and the other Ancillary Agreements, and the exhibits, schedules and
annexes hereto and thereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. In the event
of any conflict between the terms and conditions of the body of this Agreement and the terms and conditions of any Schedule, the terms and conditions of such Schedule shall control. 

7.2 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same
agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Parties. Execution of this Agreement or any other documents pursuant to this Agreement by facsimile or other
electronic copy of a signature shall be deemed to be, and shall have the same effect as, executed by an original signature. 
 7.3
Survival of Agreements. Except as otherwise contemplated by this Agreement, all covenants and agreements of the Parties contained in this Agreement shall survive the Effective Time and remain in full force and effect in accordance with their
applicable terms. 
 7.4 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in
writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt unless the day of receipt is not a Business Day, in which case it shall be deemed to have been duly given or made on the next Business Day) by
delivery in person, by overnight courier service, by facsimile with receipt confirmed (followed by delivery of an original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the
respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 7.4): 

If to Dover: 
  

			
	 Dover Corporation
 3005 Highland
Parkway
 Downers Grove, Illinois 60515

	Attention:	  	General Counsel
	 Facsimile:
	  	630-743-2671

  
 16 

 If to Knowles: 
  

	
	 Knowles Corporation
 1151 Maplewood Drive

Itasca, Illinois 60143
 Attn: General Counsel

Facsimile: 630-250-0575

 7.5 Termination. Notwithstanding any provision to the contrary, this Agreement may be terminated at any
time prior to the Effective Time if the Separation Agreement is terminated. In the event of such termination, this Agreement shall become void and no Party, nor any of its officers and directors shall have any liability to any other Party or any
other Person. After the Effective Time, this Agreement may not be terminated except by an agreement in writing signed by each of the Parties. 

7.6 Severability. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, and the Parties shall endeavor in good-faith negotiations to replace the
invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

7.7 Assignment; No Third-Party Beneficiaries. The provisions of this Agreement and the obligations and rights hereunder shall be
binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors (by merger, acquisition of assets or otherwise) and permitted transferees and assigns to the same extent as if such successors or
permitted transferees and assigns had been an original party to the Agreement. Notwithstanding the foregoing, this Agreement shall not be assignable, in whole or in part, by any Party without the prior written consent of the other Party, and any
attempt to assign any rights or obligations arising under this Agreement without such consent shall be null and void; provided, that (x) a Party may assign any or all of its rights and obligations under this Agreement to any of its
Affiliates, but no such assignment shall release the assigning Party from any liability or obligation under this Agreement and (y) a Party may assign this Agreement in whole in connection with a bone fide third party merger transaction in which
such Party is not the surviving entity or the sale by such Party of all or substantially all of its Assets, and upon the effectiveness of such assignment under this clause (y) the assigning Party shall be released from all of its obligations
under this Agreement if the surviving entity of such merger or the transferee of such Assets shall agree in writing, in form and substance reasonably satisfactory to the other Party, to be bound by the terms of this Agreement as if named as a
“Party” hereto. This Agreement is for the sole benefit of the Parties to this Agreement and their permitted successors and assigns and nothing in this Agreement, express or implied, (i) is intended to or shall confer upon any other
Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, (ii) shall confer any right to employment or continued employment for any period or terms of employment, (iii) be
interpreted to prevent or restrict the Parties from modifying or terminating any Knowles Plan or Dover Plan or the employment or terms of employment of any Knowles Employee or Dover Employee or (iv) shall establish, modify or amend any Knowles
Plan 

  
 17 

 
or Dover Plan covering a Knowles Participant, Dover Participant, any Individual Agreements, collective bargaining agreements, national collective bargaining agreements, or the terms and
conditions of employment applicable to a Knowles Employee or a Dover Employee. 
 7.8 Successors. This Agreement shall be binding on
and inure to the benefit of any successor by merger, acquisition of assets, or otherwise, to any of the parties hereto, to the same extent as if such successor had been an original party to this Agreement. 

7.9 Governing Law. This Agreement shall be governed by and construed in accordance with the internal Laws, and not the Laws governing
conflicts of Laws (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law), of the State of New York. 
 7.10
Consent to Jurisdiction. Subject to the provisions of Article VIII of the Separation Agreement, each of the Parties irrevocably submits to the exclusive jurisdiction of (a) the Supreme Court of the State of New York, New York County, and
(b) the United States District Court for the Southern District of New York (the “New York Courts”), for the purposes of any suit, action or other proceeding to compel arbitration or for provisional relief in aid of arbitration
in accordance with Article VIII of the Separation Agreement or for provisional relief to prevent irreparable harm, and to the non-exclusive jurisdiction of the New York Courts for the enforcement of any award issued thereunder. Each of the Parties
further agrees that service of any process, summons, notice or document by United States registered mail to such Party’s respective address set forth in Section 7.4 shall be effective service of process for any action, suit or proceeding
in the New York Courts with respect to any matters to which it has submitted to jurisdiction in this Section 7.10. Each of the Parties irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding
arising out of this Agreement or the transactions contemplated hereby in the New York Courts, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an inconvenient forum. 
 7.11 Dispute Resolution. The resolution of any dispute
between the Parties with respect to this Agreement shall be governed by the provisions of the Separation Agreement with respect to the resolution of disputes, including, without limitation, the provisions of Article VIII of the Separation Agreement.

 7.12 Specific Performance. The Parties agree that irreparable damage would occur in the event that the provisions of this
Agreement were not performed in accordance with their specific terms. Accordingly, subject to Section 7.11 it is hereby agreed that the Parties shall be entitled to (i) an injunction or injunctions to enforce specifically the terms and
provisions hereof in any arbitration in accordance with Article VIII of the Separation Agreement, (ii) provisional or temporary injunctive relief in accordance therewith in any New York Court, and (iii) enforcement of any such award of an
arbitral tribunal or a New York Court in any court of the United States, or any other any court or tribunal sitting in any state of the United States or in any foreign country that has jurisdiction, this being in addition to any other remedy or
relief to which they may be entitled. 
 7.13 Amendment. No provision of this Agreement may be amended or modified except by a
written instrument signed by each of the Parties. No waiver by any Party of any provision of this Agreement shall be effective unless explicitly set forth in writing and executed by the Party so waiving. The waiver by any Party of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any other subsequent breach. 

  
 18 

 7.14 Rules of Construction. Interpretation of this Agreement shall be governed by the
following rules of construction: (i) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the context re-quires, (ii) references to the terms Article,
Section, paragraph, clause, Exhibit and Schedule are references to the Articles, Sections, paragraphs, clauses, Exhibits and Schedules of this Agreement unless otherwise specified, (iii) the terms “hereof,” “herein,”
“hereby,” “hereto,” and derivative or similar words refer to this entire Agreement, including the Schedules and Exhibits here-to, (iv) references to “$” shall mean U.S. dollars, (v) the word
“including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified, (vi) the word “or” shall not be exclusive, (vii) references to
“written” or “in writing” include in electronic form, (viii) provisions shall apply, when appropriate, to successive events and transactions, (ix) the headings contained in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation of this Agreement, (x) Dover and Knowles have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this
Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in this Agreement or any interim drafts of
this Agreement, and (xi) a reference to any Person includes such Person’s successors and permitted assigns. 
 7.15
Authorization. Each of the Parties hereby represents and warrants that it has the power and authority to execute, deliver and perform this Agreement, that this Agreement has been duly authorized by all necessary corporate action on the part
of such Party, that this Agreement constitutes a legal, valid and binding obligation of each such Party enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws affecting creditors’ rights generally and general equity principles. 
 7.16 Schedules. The Schedules attached hereto are
incorporated herein by reference and shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. 

7.17 Subsidiaries. Each of the Parties shall cause to be performed, and hereby guarantee the performance of, all actions, agreements
and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party or by any entity that becomes a Subsidiary or Affiliate of such Party on and after the date hereof. 

7.18 No Circumvention. The Parties agree not to directly or indirectly take any actions, act in concert with any Person who takes an
action, or cause or allow any member of any such Party’s Group to take any actions (including the failure to take a reasonable action) such that the resulting effect is to materially undermine the effectiveness of any of the provisions of this
Agreement or any Ancillary Agreement. 
 [The remainder of this page is intentionally left blank.] 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the date
first written above by their respective duly authorized officers. 
  

			
	DOVER CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	KNOWLES CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

 Schedule A 
  

	1.	Executive Severance Agreement by and between Dover Corporation and David Wightman, dated as of February 21, 2000.

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