Document:

EX-10.1

 Exhibit 10.1 
 BECTON, DICKINSON AND COMPANY 
 DEFERRED COMPENSATION AND RETIREMENT BENEFIT
RESTORATION PLAN 
 Including Amendments Adopted through July 31, 2013 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 FOREWORD
	  		  	 	1	  
		
	 ARTICLE I Definitions
	  	 	3	  
			
	 Section 1.1
	  	“Account” or “Accounts”	  	 	3	  
	 Section 1.2
	  	“Agreement”	  	 	3	  
	 Section 1.3
	  	“Annual Open Enrollment Period”	  	 	3	  
	 Section 1.4
	  	“Base Salary”	  	 	3	  
	 Section 1.5
	  	“Beneficiary” or “Beneficiaries”	  	 	3	  
	 Section 1.6
	  	“Board of Directors”	  	 	3	  
	 Section 1.7
	  	“Bonus”	  	 	3	  
	 Section 1.8
	  	“Change in Control”	  	 	3	  
	 Section 1.9
	  	“Code”	  	 	5	  
	 Section 1.10
	  	“Committee”	  	 	5	  
	 Section 1.11
	  	“Common Stock”	  	 	5	  
	 Section 1.12
	  	“Company”	  	 	5	  
	 Section 1.13
	  	“Company Discretionary Credits”	  	 	5	  
	 Section 1.14
	  	“Company Discretionary Credit Account”	  	 	5	  
	 Section 1.15
	  	“Company Matching Credits”	  	 	5	  
	 Section 1.16
	  	“Company Matching Credit Account”	  	 	5	  
	 Section 1.17
	  	“Deferral Election”	  	 	5	  
	 Section 1.18
	  	“Deferred Bonus”	  	 	6	  
	 Section 1.19
	  	“Deferred Bonus Account”	  	 	6	  
	 Section 1.20
	  	“Deferred Bonus Election”	  	 	6	  
	 Section 1.21
	  	“Deferred Equity-Based Compensation”	  	 	6	  
	 Section 1.22
	  	“Deferred Equity-Based Compensation Account”	  	 	6	  
	 Section 1.23
	  	“Deferred Equity-Based Compensation Election”	  	 	6	  
	 Section 1.24
	  	“Deferred Restoration Distribution”	  	 	6	  
	 Section 1.25
	  	“Deferred Restoration Distribution Account”	  	 	6	  
	 Section 1.26
	  	“Deferred Restoration Distribution Election”	  	 	6	  
	 Section 1.27
	  	“Deferred Salary”	  	 	6	  
	 Section 1.28
	  	“Deferred Salary Account”	  	 	6	  
	 Section 1.29
	  	“Deferred Salary Election”	  	 	6	  
	 Section 1.30
	  	“Deferred Stock Account”	  	 	7	  
	 Section 1.31
	  	“Deferred Stock Election”	  	 	7	  
	 Section 1.32
	  	“Disability”	  	 	7	  
	 Section 1.33
	  	“Disabled”	  	 	7	  
	 Section 1.34
	  	“Dividend Reinvestment Return”	  	 	7	  
	 Section 1.35
	  	“Equity-Based Compensation”	  	 	7	  
	 Section 1.36
	  	“Equity-Based Compensation Plan”	  	 	7	  
	 Section 1.37
	  	“ERISA”	  	 	8	  
	 Section 1.38
	  	“Fiscal Year”	  	 	8	  
	 Section 1.39
	  	“Grandfathered Deferred Compensation Plan Deferrals”	  	 	8	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 Section 1.40
	  	“Grandfathered Restoration Plan Benefit”	  	 	8	  
	 Section 1.41
	  	“Investment Election”	  	 	8	  
	 Section 1.42
	  	“Investment Options”	  	 	8	  
	 Section 1.43
	  	“Other Stock-Based Awards”	  	 	9	  
	 Section 1.44
	  	“Participant”	  	 	9	  
	 Section 1.45
	  	“Performance Units”	  	 	9	  
	 Section 1.46
	  	“Plan”	  	 	9	  
	 Section 1.47
	  	“Plan Year”	  	 	9	  
	 Section 1.48
	  	“Restricted Stock Units”	  	 	9	  
	 Section 1.49
	  	“Restoration Plan”	  	 	9	  
	 Section 1.50
	  	“Restoration Plan Benefit”	  	 	9	  
	 Section 1.51
	  	“Retirement Plan”	  	 	9	  
	 Section 1.52
	  	“SIP”	  	 	9	  
	 Section 1.53
	  	“Separation from Service”	  	 	9	  
	 Section 1.54
	  	“Specified Employee”	  	 	9	  
	 Section 1.55
	  	“Spouse”	  	 	9	  
	 Section 1.56
	  	“Stock Award Plan”	  	 	9	  
	 Section 1.57
	  	“Stock Trust”	  	 	9	  
	 Section 1.58
	  	“Total Eligible Compensation”	  	 	10	  
		
	 ARTICLE II Eligibility and Participation
	  	 	11	  
			
	 Section 2.1
	  	Eligibility.	  	 	11	  
	 Section 2.2
	  	Participation.	  	 	12	  
		
	 ARTICLE III Deferral Elections and Deferral Periods
	  	 	15	  
			
	 Section 3.1
	  	Deferred Salary Election.	  	 	15	  
	 Section 3.2
	  	Deferred Bonus Election.	  	 	15	  
	 Section 3.3
	  	Deferred Equity-Based Compensation Election.	  	 	16	  
	 Section 3.4
	  	Company Matching Credits.	  	 	17	  
	 Section 3.5
	  	Company Discretionary Credits.	  	 	17	  
	 Section 3.6
	  	Deferred Restoration Distribution Election.	  	 	17	  
	 Section 3.7
	  	Deferral Period.	  	 	19	  
	 Section 3.8
	  	Modification of Deferral Period.	  	 	20	  
		
	 ARTICLE IV Restoration Benefits
	  	 	23	  
			
	 Section 4.1
	  	Amount of Restoration Plan Benefit.	  	 	23	  
	 Section 4.2
	  	Pre-Retirement Restoration Death Benefit.	  	 	23	  
	 Section 4.3
	  	Early Retirement Adjustments.	  	 	24	  
	 Section 4.4
	  	Payment of Restoration Plan Benefits.	  	 	24	  
	 Section 4.5
	  	Payment of Restoration Plan Benefit Following Change in Control.	  	 	27	  
	 Section 4.6
	  	Restoration Plan Benefit on Account of Disability Retirement.	  	 	28	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
		
	 ARTICLE V Participants’ Accounts
	  	 	30	  
			
	 Section 5.1
	  	Crediting of Employee Deferrals and Company Matching and Discretionary Credits.	  	 	30	  
	 Section 5.2
	  	Investment Election.	  	 	30	  
	 Section 5.3
	  	Hypothetical Earnings.	  	 	30	  
	 Section 5.4
	  	Vesting.	  	 	35	  
	 Section 5.5
	  	Account Statements.	  	 	35	  
		
	 ARTICLE VI Distributions and Withdrawals
	  	 	36	  
			
	 Section 6.1
	  	Timing of Distributions.	  	 	36	  
	 Section 6.2
	  	Form of Distribution.	  	 	40	  
		
	 ARTICLE VII General Provisions
	  	 	46	  
			
	 Section 7.1
	  	Unsecured Promise to Pay.	  	 	46	  
	 Section 7.2
	  	Plan Unfunded.	  	 	46	  
	 Section 7.3
	  	Designation of Beneficiary.	  	 	46	  
	 Section 7.4
	  	Expenses.	  	 	46	  
	 Section 7.5
	  	Voting Common Stock.	  	 	47	  
	 Section 7.6
	  	Non-Assignability.	  	 	47	  
	 Section 7.7
	  	Mandatory Deferral.	  	 	47	  
	 Section 7.8
	  	Employment/Participation Rights.	  	 	47	  
	 Section 7.9
	  	Severability.	  	 	48	  
	 Section 7.10
	  	No Individual Liability.	  	 	48	  
	 Section 7.11
	  	Tax and Other Withholding.	  	 	48	  
	 Section 7.12
	  	Applicable Law.	  	 	49	  
	 Section 7.13
	  	Incompetency.	  	 	49	  
	 Section 7.14
	  	Notice of Address.	  	 	49	  
		
	 ARTICLE VIII Administration
	  	 	50	  
			
	 Section 8.1
	  	Committee.	  	 	50	  
	 Section 8.2
	  	Claims Procedure.	  	 	50	  
	 Section 8.3
	  	Plan to Comply With Code Section 409A.	  	 	50	  
		
	 ARTICLE IX Amendment, Termination and Effective Date
	  	 	51	  
			
	 Section 9.1
	  	Amendment of the Plan.	  	 	51	  
	 Section 9.2
	  	Termination of the Plan.	  	 	51	  
	 Section 9.3
	  	No Impairment of Benefits.	  	 	51	  
	 Section 9.4
	  	Effective Date.	  	 	51	  

  
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 BECTON, DICKINSON AND COMPANY 

DEFERRED COMPENSATION AND RESTORATION PLAN 
 Including Amendments Adopted through July 31, 2013 
 FOREWORD 

Effective as of August 1, 1994 (the “Effective Date”), Becton, Dickinson and Company (the “Company”) adopted the Becton,
Dickinson and Company Salary and Bonus Deferral Plan (the “Plan”) for the benefit of certain of its employees. The Plan is intended to be an unfunded plan of deferred compensation primarily for the benefit of a select group of management
and highly compensated employees. To the extent that the Plan permits the voluntary deferral of bonuses, the Plan is intended to amend and replace the Bonus Deferral Option of the Becton, Dickinson and Company Executive Bonus Plan. 

The purpose of the Plan is to permit those employees of the Company who are part of a select group of management or highly compensated employees to
defer, pursuant to the provisions of the Plan, a portion of the salaries, bonuses and other remuneration (including certain equity-based compensation) otherwise payable to them. 
 Effective as of August 15, 1996, the Board of Directors of the Company amended the Plan to permit Participants to have their deferred salaries or deferred bonuses considered to be invested in Common
Stock of the Company, to permit those Participants to vote a number of shares of Common Stock equal to the number considered to be held for their benefit under the Plan, and for certain other purposes. 

Effective as of November 1, 2001, the Plan was amended and restated to rename the Plan as the Becton, Dickinson and Company Deferred Compensation
Plan, and to modify the deferral opportunities and the distribution and withdrawal options under the Plan, and to make certain other modifications deemed desirable. 
 Effective as of March 22, 2004, the Plan was amended and restated to permit Participants to defer certain equity-based compensation awarded under the Becton, Dickinson and Company Stock Award Plan
(the “Stock Award Plan”) and the Becton, Dickinson and Company 2004 Employee and Director Equity-Based Compensation Plan (the “Equity-Based Compensation Plan”). 
 Effective as of January 1, 2005, the Plan was amended (in operation and through various separate amendments and related documents) in several respects to comply with the requirements of Code
Section 409A. In addition, effective as of December 31, 2008, the Plan was further amended to: (1) consolidate the provisions of the Becton, Dickinson and Company Retirement Benefit Restoration Plan with this Plan (reflecting the
consolidated administration of the two plans); and (2) bring the consolidated Plan into compliance with the written plan requirements of Code Section 409A. Notwithstanding any provision to the contrary in this Plan, each provision in this
Plan shall be interpreted to permit the deferral of compensation in accordance with Code Section 409A, and any provision that would conflict with such requirements shall not be valid or enforceable. 

  
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 Effective as of October 1, 2009, the Plan was amended to allow Participants to change their Investment
Elections on a daily basis. 
 Effective as of January 1, 2010, the Plan was amended to limit future hypothetical investment in Common
Stock. 
 Effective as of January 1, 2013, the Plan was amended to reflect the conversion of certain Participants’ Retirement Plan
benefits from being calculated using the final average pay formula under the Retirement Plan to being calculated using the cash balance formula under the Retirement Plan and to reflect certain administrative practices. 

Effective as of January 1, 2014, the Plan was amended to reflect certain design changes related to Plan eligibility. In addition, effective for
deferrals made on and after January 1, 2014, the Plan was amended to reflect certain changes related to deferral elections and Company Matching Credits 

  
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 ARTICLE I 
 Definitions 
  

	Section 1.1	“Account” or “Accounts” means the bookkeeping account or accounts established under the Plan, if any, on behalf of a Participant and includes
earnings credited thereon or losses charged thereto. 

  

	Section 1.2	“Agreement” means an agreement entered into between an Eligible Employee and the Company, as agreed to by the Compensation and Benefits Committee of the Board
of Directors of the Company (or any committee successor thereto), to participate in the provisions of this Plan related to Restoration Plan benefits and delineating certain terms and conditions with respect to such participation including (but not
limited to) the benefits (if any) that are to be provided to the Eligible Employee in lieu of or in addition to the benefits described under the terms of this Plan. 

 

	Section 1.3	“Annual Open Enrollment Period” means the annual period designated by the Committee, which ends not later than the December 31 of a Plan Year, during
which a Participant may make or change deferral and/or distribution elections under this Plan. 

  

	Section 1.4	“Base Salary” means the base salary or wages otherwise taken into account under the SIP, determined in accordance with the provisions of such plan, but
without regard to the limitation on compensation otherwise required under Code Section 401(a)(17), and without regard to any deferrals of the foregoing of compensation under this or any other plan of deferred compensation maintained by the
Company. 

  

	Section 1.5	“Beneficiary” or “Beneficiaries” means the beneficiary or beneficiaries who, pursuant to the provisions of this Plan, is or are to receive the
amount, if any, payable under this Plan upon the death of a Participant. 

  

	Section 1.6	“Board of Directors” means the Board of Directors of the Company. 

 

	Section 1.7	“Bonus” means the annual bonus payable under the Company’s Performance Incentive Plan, or any successor thereto. 

 

	Section 1.8	“Change in Control” of the Company means any of the following events: 

(1) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13(d)(3) promulgated under the Exchange Act) of 25% or more of either (A) the
then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this Section 1.8, the 

  
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following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any
employee benefit plan (or related trust) sponsored or maintained by the Company or any affiliated company, (iv) any acquisition by any corporation pursuant to a transaction that complies with Sections 1.8(3)(A), 1.8(3)(B) and 1.8(3)(C), or
(v) any acquisition that the Board determines, in good faith, was inadvertent, if the acquiring Person divests as promptly as practicable a sufficient amount of the Outstanding Company Common Stock and/or the Outstanding Company Voting
Securities, as applicable, to reverse such acquisition of 25% or more thereof. 
 (2) Individuals who, as of
April 24, 2000, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to April 24, 2000 whose
election, or nomination for election as a director by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of
the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other than the Board. 
 (3)
Consummation of a reorganization, merger, consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case, unless, following such Business Combination,
(A) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 60% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the
corporation resulting from such Business Combination (including, without limitation, a corporation that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or
more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person
(excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 25% or more
of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such
ownership existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors of the corporation resulting from such Business 

  
 -4-

 
Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or 

(4) Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

 

	Section 1.9	“Code” means the Internal Revenue Code of 1986, as amended, or any successor statute. 

 

	Section 1.10	“Committee” means the Plan Administrative Committee, which is responsible for administering the Plan. The Committee shall consist of three or more employees
of the Company as determined by, and appointed by, the Board of Directors. The Committee may delegate pursuant to a written authorization (including, by way of illustration, through a contract, memorandum, or other written delegation document) any
or all of its responsibilities involving ongoing day-to-day administration or ministerial acts, as set forth in this Plan to one or more individuals or service-providers. In any case where this Plan refers to the Committee, such reference is deemed
to be a reference to any delegate of the Committee appointed for such purpose. 

  

	Section 1.11	“Common Stock” means the common stock ($1.00 par value) of the Company, including any shares into which it may be split, subdivided or combined.

  

	Section 1.12	“Company” means Becton, Dickinson and Company and any successor to such corporation by merger, purchase or otherwise. 

 

	Section 1.13	“Company Discretionary Credits” means the amounts credited to a Participant’s Company Discretionary Credit Account, if any, pursuant to Section 3.5.

  

	Section 1.14	“Company Discretionary Credit Account” means the bookkeeping account established under Section 3.5, if any, on behalf of a Participant and includes any
earnings credited thereon or losses charged thereto pursuant to Article IV. 

  

	Section 1.15	“Company Matching Credits” means the amounts credited to a Participant’s Company Matching Credit Account, if any, pursuant to Section 3.4.

  

	Section 1.16	“Company Matching Credit Account” means the bookkeeping account established under Section 3.4, if any, on behalf of a Participant and includes any
earnings credited thereon or losses charged thereto pursuant to Article IV. 

  

	Section 1.17	“Deferral Election” means the Participant’s election to participate in this Plan and defer amounts eligible for deferral in accordance with the Plan
terms. Except as the context otherwise requires, references herein to Deferral Elections include any subsequent modifications of a prior Deferral Election. 

  
 -5-

	Section 1.18	“Deferred Bonus” means the amount of a Participant’s Bonus that such Participant has elected to defer until a later year pursuant to an election under
Section 3.2. 

  

	Section 1.19	“Deferred Bonus Account” means the bookkeeping account established under Section 3.2 on behalf of a Participant, and includes any earnings credited
thereon or losses charged thereto pursuant to Article IV. 

  

	Section 1.20	“Deferred Bonus Election” means the election by a Participant under Section 3.2 to defer a portion of the Participant’s Bonus until a later year.

  

	Section 1.21	“Deferred Equity-Based Compensation” means the amount of a Participant’s Equity-Based Compensation that such Participant has elected to defer until a
later year pursuant to an election under Section 3.3. 

  

	Section 1.22	“Deferred Equity-Based Compensation Account” means the bookkeeping account established under Section 3.3 on behalf of a Participant, and includes any
earnings credited thereon or losses charged thereto pursuant to Section 5.3(b). 

  

	Section 1.23	“Deferred Equity-Based Compensation Election” means the election by a Participant under Section 3.3 to defer a portion of the Participant’s
Equity-Based Compensation. 

  

	Section 1.24	“Deferred Restoration Distribution” means the amount of a Participant’s distributable Restoration Plan Benefit that such Participant has elected to defer
under this Plan pursuant to an election under Section 3.6. 

  

	Section 1.25	“Deferred Restoration Distribution Account” means the bookkeeping account established under Section 3.6 on behalf of a Participant, and includes any
earnings credited thereon or losses charged thereto pursuant to Article IV. 

  

	Section 1.26	“Deferred Restoration Distribution Election” means the election by a Participant under Section 3.6 to defer all or a portion of the Participant’s
distributable Restoration Plan Benefit. 

  

	Section 1.27	“Deferred Salary” means the amount of a Participant’s Base Salary that such Participant has elected to defer until a later year pursuant to an election
under Section 3.1. 

  

	Section 1.28	“Deferred Salary Account” means the bookkeeping account established under Section 3.1 on behalf of a Participant, and includes any earnings credited
thereon or losses charged thereto pursuant to Article V. 

  

	Section 1.29	“Deferred Salary Election” means the election by a Participant under Section 3.1 to defer until a later year a portion of his or her Base Salary.

  
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	Section 1.30	“Deferred Stock Account” means the bookkeeping account established under Section 5.3(b) on behalf of a Participant and includes, in addition to amounts
stated in that Section, any Dividend Reinvestment Return credited thereon. 

  

	Section 1.31	“Deferred Stock Election” means the election by a Participant under Section 5.3(b) to have applicable deferred amounts credited in the form of Common
Stock to the Participant’s Deferred Stock Account. 

  

	Section 1.32	“Disability” means a Participant’s total disability as defined below and determined in a manner consistent with Code Section 409A and the
regulations thereunder: 

  

	 	(i)	The Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to
result in death or can be expected to last for a continuous period of not less than 12 months; or 

  

	 	(ii)	The Participant is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company. 

A Participant will be deemed to have suffered a Disability if determined to be totally disabled by the Social Security Administration.

  

	Section 1.33	“Disabled” means that a Participant is totally and permanently disabled as defined in the Company’s Long-Term Disability Plan. With respect to payments
of amounts in excess of a Participant’s Grandfathered Deferred Compensation Plan Deferrals or Grandfathered Restoration Plan Benefit on account of disability, the term “Disabled” means a disability that meets the standard for
disability under Code Section 409A and the guidance issued thereunder. 

  

	Section 1.34	“Dividend Reinvestment Return” means the amounts which are credited to each Participant’s Deferred Stock Account pursuant to Section 5.3(b) to
reflect dividends declared by the Company on its Common Stock. 

  

	Section 1.35	“Equity-Based Compensation” means (i) November 24, 2003, awards granted under the Stock Award Plan and (ii) Restricted Stock Units, Performance
Units, and Other Stock-Based Awards granted under Sections 7, 8, and 9 of the Equity-Based Compensation Plan, and does not include any such awards that qualify as vested stock, restricted stock, stock option awards, or stock appreciation rights.

  

	Section 1.36	“Equity-Based Compensation Plan” means the Becton, Dickinson and Company 2004 Employee and Director Equity-Based Compensation Plan. 

  
 -7-

	Section 1.37	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. 

 

	Section 1.38	“Fiscal Year” means the fiscal year of the Company, which currently is the twelve-month period commencing on the first day of October and ending on the last
day of September of the following calendar year. 

  

	Section 1.39	“Grandfathered Deferred Compensation Plan Deferrals” means amounts deferred under the terms of this Plan as in effect as of December 31, 2004 (and the
earnings credited thereon before, on or after January 1, 2005) for which (i) the Participant had a legally binding right as of December 31, 2004, to be paid the amount, and (ii) such right to the amount was earned and vested as
of December 31, 2004 and was credited to the Participant’s Account. 

  

	Section 1.40	“Grandfathered Restoration Plan Benefit” means amounts deferred under the terms of the Restoration Plan as in effect as of December 31, 2004 for which
the Participant had a legally binding right as of December 31, 2004 and which amount was earned and vested as of December 31, 2004. The calculation of a Participant’s Grandfathered Restoration Plan Benefit shall equal the present
value of the amount to which the Participant would have been entitled under the Restoration Plan if the Participant voluntarily terminated employment on December 31, 2004, and received a payment of the benefits available from the Restoration
Plan on the earliest possible date allowed under the Restoration Plan to receive a payment of benefits following the termination of employment, and received the benefits in the form with the maximum value. Notwithstanding the foregoing, for any
subsequent taxable year of the Participant, the Grandfathered Restoration Plan Benefit may increase to equal the present value of the benefit the Participant actually becomes entitled to, in the form and at the time actually paid, determined under
the terms of the Restoration Plan, as in effect on October 3, 2004, without regard to any further services rendered by the Participant after December 31, 2004, or any other events affecting the amount of or the entitlement to benefits
(other than the Participant’s election with respect to the time or form of an available benefit). For purposes of calculating the present value of a benefit under this Section, actuarial assumptions and methods to be used will be the same as
those used to value benefits under the Becton, Dickinson and Company Retirement Plan and shall otherwise be made in accordance with Reg. §1.409A-6(a)(3)(i). 

 

	Section 1.41	“Investment Election” means the Participant’s election to have deferred amounts credited with hypothetical earnings credits (or losses) that track the
investment performance of the Investment Options and/or Common Stock in accordance with Article V. 

  

	Section 1.42	“Investment Options” means those hypothetical targeted investment options designated by the Committee as measurements of the rate of return to be credited to
(or charged against) amounts deferred to Participants’ Accounts. 

  
 -8-

	Section 1.43	“Other Stock-Based Awards” means awards granted under Section 9 of the Equity-Based Compensation Plan. 

 

	Section 1.44	“Participant” means a common law employee of the Company who meets the eligibility and participation requirements set forth in Article II.

  

	Section 1.45	“Performance Units” means awards granted under Section 8 of the Equity-Based Compensation Plan. 

 

	Section 1.46	“Plan” means the Becton, Dickinson and Company Deferred Compensation and Retirement Benefit Restoration Plan as from time to time in effect. Previously, the
terms of this Plan were determined under the terms of the Restoration Plan and the Becton, Dickinson and Company Deferred Compensation Plan (previously the Becton, Dickinson and Company Salary and Bonus Deferral Plan), which are hereby consolidated
into a single document. 

  

	Section 1.47	“Plan Year” means the calendar year. 

  

	Section 1.48	“Restricted Stock Units” means Restricted Stock Units granted under Section 7 of the Equity-Based Compensation Plan. 

 

	Section 1.49	“Restoration Plan” means the Becton, Dickinson and Company Retirement Benefit Restoration Plan, as amended and restated from time to time.

  

	Section 1.50	“Restoration Plan Benefit” means the Participant’s benefit described in Article IV of this Plan. 

 

	Section 1.51	“Retirement Plan” means the Becton, Dickinson and Company Retirement Plan, as it may be amended and restated from time to time. 

 

	Section 1.52	“SIP” means the Becton, Dickinson and Company Savings Incentive Plan. 

 

	Section 1.53	“Separation from Service” means a termination of employment or other separation from service from the Company as described in Code Section 409A and the
regulations thereunder. 

  

	Section 1.54	“Specified Employee” means a person identified in accordance with procedures adopted by the Committee that reflect the requirements of Code
Section 409A(a)(2)(B)(i) and applicable guidance thereunder. 

  

	Section 1.55	“Spouse” means the individual to whom the Participant is legally married on the date of death or other benefit commencement. 

 

	Section 1.56	“Stock Award Plan” means the Becton, Dickinson and Company Stock Award Plan as the same may be amended from time to time. 

 

	Section 1.57	“Stock Trust” means the Becton, Dickinson and Company Deferred Salary and Bonus Trust established as of August 15, 1996 between the Company and Wachovia
Bank of North Carolina, N.A., as amended from time to time thereafter. 

  
 -9-

	Section 1.58	“Total Eligible Compensation” means the base salary or wages and bonus otherwise taken into account under the SIP, determined in accordance with the
provisions of such plan, but without regard to the limitation on compensation otherwise required under Code Section 401(a)(17), and without regard to any deferrals of the foregoing of compensation under this or any other plan of deferred
compensation maintained by the Company; provided, however, that Total Eligible Compensation for a Plan Year shall not exceed two (2) times the dollar limit otherwise in effect for such Plan Year under Code Section 401(a)(17).

  
 -10-

 ARTICLE II 
 Eligibility and Participation 
  

	Section 2.1	Eligibility. 

  

	 	(a)	Only “Eligible Employees” who meet the conditions of this Article II shall be eligible to become a Participant in this Plan. Unless the Committee determines
otherwise, any employee of the Company (or any subsidiary or affiliate of the Company) who participates in the Retirement Plan and whose benefits under the Retirement Plan are limited pursuant to the provisions included in the Retirement Plan in
order to comply with Code Sections 401(a)(17) or 415, shall be an Eligible Employee with respect to benefits payable under Article IV and Section 3.6 (i.e., eligibility for the restoration portion of the Plan). An “Eligible Employee”
for purposes of Sections 3.1, 3.2, 3.3, 3.4, and 3.5 (i.e., eligibility for the deferred compensation portion of the Plan) is an individual who meets the following requirements: 

 

	 	(i)	the individual is a common law employee of a unit of the Company (or of one of its subsidiaries) to which the Plan has been adopted pursuant to a decision by, or with
the approval of, the Board of Directors; 

  

	 	(ii)	the individual is not a nonresident alien of the United States receiving no United States source income within the meaning of Sections 861(a)(3) or 911(d)(2) of the
Code; and 

  

	 	(iii)	the employee has annualized Base Salary of $200,000 or more (indexed annually by the same amount as the compensation limit under Code Section 401(a)(17)) for the
calendar year in which the Deferral Election is required to be made. 

  

	 	(b)	The Committee shall have the ability to adjust, prospectively for any Plan Year, the dollar limitation in Section 2.1(a)(iii). The Committee may also:

  

	 	(i)	designate as ineligible particular individuals, groups of individuals or employees of business units who otherwise would be eligible under Section 2.1(a); or

  

	 	(ii)	designate as eligible particular individuals, groups of individuals or employees of business units who otherwise would be ineligible under Section 2.1(a);

 provided, however, that any such designations shall be made in a manner consistent with the requirements of
Code Section 409A and the regulations and other guidance thereunder to avoid adverse tax consequences to affected Participants. 
  

	 	(c)	An employee who, at any time, ceases to meet the foregoing eligibility requirements, as determined in the sole discretion of the Committee, shall thereafter cease to be
a Participant eligible to continue making deferrals under the Plan, effective as of the first day of the Plan Year coincident with or next following the date of such cessation of eligibility in a manner consistent with the requirements of Code
Section 409A and the regulations and other guidance issued thereunder to avoid adverse tax consequences to affected Participants, and any deferral elections then in effect shall cease to be effective as of the first day of such Plan Year. In
such case, the individual may remain a Participant in the Plan with respect to amounts already deferred prior to the date such individual ceased to be an active Participant. 

  
 -11-

	Section 2.2	Participation. 

  

	 	(a)	General Rule. An Eligible Employee shall become an active Participant in the Plan at such time as the Eligible Employee either: (i) makes a timely Deferral
Election pursuant to Subsections (b) and (c) herein; and/or (ii) meets the requirements under Subsection (d) with respect to eligibility for a Restoration Plan Benefit. 

 

	 	(b)	Deferral Election. As soon as practicable after the Committee determines that an individual is an Eligible Employee, the Committee shall provide the Eligible
Employee with the appropriate election forms with which to make a Deferral Election. The Eligible Employee shall make the Deferral Election in the manner set forth in Section 2.2(c) and within the time periods set forth in Article III. In the
case of an employee who first becomes an Eligible Employee under this Plan (and is not eligible for any other plan with which this Plan is aggregated for purposes of Code Section 409A) during a Plan Year, such Deferral Election may be made
within the first thirty (30) days of eligibility with respect to any Base Salary to be earned thereafter for the remainder of the Plan Year. In the case of an employee who first becomes an Eligible Employee under this Plan (and is not eligible
for any other plan with which this Plan is aggregated for purposes of Code Section 409A) during a Plan Year, such Deferral Election within the first thirty (30) days of eligibility may also be made with respect to any Equity-Based
Compensation awarded or granted at the time of hire and to be earned after the date of the Deferral Election. If the Participant does not return the completed forms to the Committee at such time as required by the Committee, the Participant will not
be allowed to participate in the Plan until the next Annual Open Enrollment Period. All Deferral Elections hereunder (including any modifications of prior Deferral Elections otherwise permitted under the Plan) may be made in accordance with written,
electronic or telephonic procedures prescribed by the Committee. 

  
 -12-

	 	(c)	Contents of Deferral Election. A Participant’s Deferral Election must be made in the manner designated by the Committee and must be accompanied by:

  

	 	(i)	any election to defer Base Salary and/or Bonus; 

  

	 	(ii)	any election to defer Equity-Based Compensation and a deferral period election with respect to Equity-Based Compensation, as determined by the Committee;

  

	 	(iii)	any election to defer payment of Restoration Plan Benefits (if applicable) and any Company Discretionary Credits and a separate deferral period election with respect to
each such separate category of deferral; 

  

	 	(iv)	an Investment Election (except with respect to an Equity-Based Compensation Election, which shall automatically be credited to a Deferred Stock Account for investment
return purposes), in accordance with the provisions of Article V; 

  

	 	(v)	a designation of a Beneficiary or Beneficiaries to receive any deferred amounts owed upon the Participant’s death; 

 

	 	(vi)	subject to Section 2.2(c)(i), a designation as to the form of distribution for each separate year’s deferral and each separate category of deferral (Company
Matching Credit deferrals will be subject to the Participant’s distribution option elections with respect to Base Salary provided, however, that if the Participant does not make a Base Salary election but does make a Bonus deferral election,
then the Participant’s Company Matching Credit deferrals will be subject to the Participant’s distribution option elections with respect to Bonus); provided, however, that if no specific election is made with respect to any deferred
amount, the Participant will be deemed to have elected to receive such amounts in the form of a lump sum distribution (in cash and, solely to the extent distributable amounts are credited to the Participant’s Deferred Stock Account at the time
of the distribution, shares of Common Stock); 

  

	 	(vii)	an application for a policy of life insurance under which the Participant is the insured and the Company is the sole owner of and beneficiary under such policy; and

  

	 	(viii)	such additional information as the Committee deems necessary or appropriate. 

 

	 	(d)	 Unless the Committee determines otherwise or unless otherwise provided in an Agreement, if any, an Eligible Employee who participates in the

  
 -13-

 
Retirement Plan and whose benefits under the Retirement Plan are limited pursuant to the provisions included in the Retirement Plan in order to comply with Code Sections 401(a)(17) or 415, shall
automatically become a Participant in this Plan with respect to benefits payable under Article IV. 
  

	 	(e)	The participation of any Participant may be suspended or terminated by the Committee at any time, but no such suspension or termination shall operate to reduce any
benefits accrued by the Participant under the Plan prior to the date of suspension or termination and, further, any such suspension or termination may only be done in a manner consistent with the requirements of Code Section 409A and the
regulations and other guidance issued thereunder to avoid adverse tax consequences to affected Participants. 

  
 -14-

 ARTICLE III 
 Deferral Elections and Deferral Periods 
  

	Section 3.1	Deferred Salary Election. 

  

	 	(a)	Each Participant may make a Deferred Salary Election with respect to Base Salary otherwise to be paid in such calendar year. A Participant may elect to defer from 1% to
75% of the Participant’s Base Salary (in increments of 1%). Notwithstanding the foregoing, any Deferred Salary Election must be made in a manner that will ensure that the Participant is paid a sufficient amount of Base Salary that will allow
adequate amounts available for (i) any pre-tax elective deferrals under the SIP, and (ii) any amounts to be deferred by the Participant in order to participate in any other benefit programs maintained by the Company.

  

	 	(b)	Except with respect to Deferred Salary Elections made by Participants who first become eligible to participate during a Plan Year (which elections must be made as
specified in Section 2.2(b)), a Deferred Salary Election with respect to Base Salary for a particular calendar year must be made during the time period specified by the Committee, but in no event later than the December 31 preceding the
commencement of that calendar year or at such earlier time as determined by the Committee. Once a Deferred Salary Election is made, it shall be irrevocable after the final deadline established by the Committee for making the election. Such Deferred
Salary shall be credited to the Participant’s Deferred Salary Account as of the first business day after the last day of each payroll period. 

  

	Section 3.2	Deferred Bonus Election. 

  

	 	(a)	Each Participant may elect to make a Deferred Bonus Election with respect to a Bonus otherwise to be paid in the calendar year immediately following (or, in the
discretion of the Committee, in a later year following) the year of the Participant’s Deferred Bonus Election. A Participant may elect to defer from 1% to 100% of the Participant’s Bonus (in increments of 1%); provided, however, that the
Participant’s Deferred Bonus Election must result in a deferral of at least $5,000. In the event that Participant’s Deferred Bonus Election does not result in a deferral of at least $5,000 but the Participant’s Bonus is at least
$5,000, such Participant’s Deferred Bonus Election shall be automatically increased to the percentage that results in a deferral of $5,000. In the event that the Participant’s Bonus is less than $5,000, such Participant’s Deferred
Bonus Election shall be void. 

  

	 	(b)	 A Deferred Bonus Election with respect to any Bonus to be earned during a Fiscal Year must be made no later than the date that is six months before the
end of the performance period (which performance period shall not be less than twelve months) or such other earlier date designated by the 

  
 -15-

	 	
Committee. Once made, a Deferred Bonus Election cannot be changed or revoked after the final deadline established by the Committee for making the election, except as provided herein. Such
Deferred Bonus shall be credited to the Participant’s Deferred Bonus Account as of the first business day in January of the year that the Bonus otherwise would have been paid to the Participant in the absence of any deferral hereunder.

  

	Section 3.3	Deferred Equity-Based Compensation Election. 

  

	 	(a)	To the extent permitted by law on a tax deferred basis, each Participant may elect to make a Deferred Equity-Based Compensation Election with respect to Equity-Based
Compensation otherwise to be granted in the calendar year immediately following (or, in the discretion of the Committee, in a later year following) the year of the Participant’s Deferred Equity-Based Compensation Election. A Participant may
elect to defer his or her Equity-Based Compensation, and may make separate elections with respect to each of the Participant’s Restricted Stock Units, Performance Units, Other Stock-Based Awards, and awards under the Stock Award Plan, provided,
however, that, the Participant’s Equity-Based Compensation for each type of Equity-Based Compensation must result in a deferral of at least 25% of such type of Equity-Based Compensation. 

 

	 	(b)	 Except with respect to Deferred Equity-Based Compensation Elections made by Participants who first become eligible to participate during a Plan Year
(which elections must be made as specified in Section 2.2(b)), a Deferred Equity-Based Compensation Election with respect to any Equity-Based Compensation to be granted in a particular calendar year must be made during the time period specified
by the Committee, but in no event later than the December 31 preceding the commencement of that calendar year or at such earlier time as determined by the Committee. Notwithstanding the foregoing, with respect to a Deferred Equity-Based
Compensation Election governing Restricted Stock Units that are designated as performance-based compensation by the Company and that qualify as performance-based compensation under Code Section 409A and any guidance thereunder, such Deferred
Equity-Based Compensation Election must be made no later than the date that is six months before the end of the performance period (which performance period shall not be less than twelve months) or such other earlier date designated by the Company,
provided, however, that to be eligible to make any such Deferred Equity-Based Compensation Election the Participant must have provided services to the Company (or one of its subsidiaries) from the later of the date the performance period starts or
the date the performance criteria are established through the date the Deferred Equity-Based Compensation Election is made. Once made, a Deferred Equity-Based Compensation Election cannot be changed or revoked after the final deadline established by
the Committee for making the election, except as provided herein. Such Deferred Equity-Based Compensation shall be credited to the 

  
 -16-

	 	
Participant’s Deferred Equity-Based Compensation Account as soon as practicable after the Equity-Based Compensation otherwise would vest and be paid, and will be credited for investment
tracking purposes to the Participant’s Deferred Stock Account under Section 5.3(b). 

  

	Section 3.4	Company Matching Credits. 

(a) Effective for deferrals made on or after January 1, 2014, if a Participant has made a Deferred Salary Election in accordance with
Section 3.1 or a Deferred Bonus Election in accordance with Section 3.2, then the Participant shall be eligible to have Company Matching Credits equal to 75% of that portion of the sum of the Participant’s Deferred Salary and Deferred
Bonus under this Plan which does not exceed 6% of the Participant’s Total Eligible Compensation credited to the Participant’s Company Matching Credit Account in accordance with Section 3.4(b). 

(b) Company Matching Credits under Section 3.4(a) shall be credited to the Participant’s Company Matching Credit Account as soon
as practicable as determined by the Committee after such deferral is credited to the Participant’s Deferred Salary Account and/or Deferred Bonus Account, but in no event less frequently than on a annual basis, and shall be subject to the
overall Plan Year limit on such amounts described in Section 3.4(a) and the vesting schedule described in Article V. 
  

	Section 3.5	Company Discretionary Credits. 

 The Company may, in its sole discretion, provide for additional credits to all or some Participants’ Accounts at any time. Such amounts shall be credited to the Participant’s Company
Discretionary Credit Account and shall be subject to the vesting schedule established by the Company at the time such amounts are credited. 
  

	Section 3.6	Deferred Restoration Distribution Election. 

  

	 	(a)	 General Rule. Each Participant who is eligible to receive a Restoration Plan Benefit under the Plan may elect, in accordance with this
Section 3.6, to make a Deferred Restoration Distribution Election with respect to a Restoration Plan Benefit that is otherwise to be paid to the Participant. If a Participant makes such an election, the Participant must elect to defer 100% of
the value of the Participant’s applicable Restoration Plan Benefit. To the extent a Participant’s Restoration Plan Benefit is attributable to the final average pay benefit formula under the Retirement Plan and not described in
Section 4.4(b)(i)(D), the value of such Restoration Plan Benefit shall equal the actuarial present value (at the time payment becomes due) of the portion of the Participant’s (or Beneficiary’s) Restoration Plan Benefit based on the
final average pay formula, determined as of normal retirement age under the Retirement Plan, based 

  
 -17-

	 	
on the Applicable Interest Rate and the Applicable Mortality Table (as such terms are defined in the Retirement Plan) used under the Retirement Plan for calculating present value. To the extent a
Participant’s Restoration Plan Benefit is attributable to the cash balance benefit formula under the Retirement Plan or is otherwise described in Section 4.4(b)(i)(D) below, the value of such Restoration Plan Benefit shall equal the
Participant’s Restoration Plan Benefit hypothetical account balance at such time. Once deferred, such amounts shall be credited to the Participant’s Deferred Restoration Distribution Account as provided for in Article V. Amounts held in a
Deferred Restoration Distribution Account may not be paid in the form of an annuity and may only be paid in a form otherwise available to amounts credited to a Deferred Salary Account, as provided for in Article VI. 

 

	 	(b)	Grandfathered Restoration Plan Benefit. With respect to amounts equal to a Participant’s Grandfathered Restoration Plan Benefit, a Deferred Restoration
Distribution Election with respect to any amounts payable during a particular calendar year must be made at least one year before the date that the Grandfathered Restoration Plan Benefit is otherwise payable to the Participant pursuant to
Section 4.4. Once made, such a Deferred Restoration Distribution Election cannot be changed or revoked except as provided herein. If the Participant otherwise becomes entitled to a distribution of a Restoration Plan Benefit after having made
such an election and before the end of such one-year period, such election shall be ineffective and the applicable Restoration Plan Benefit payment shall not be deferred hereunder. Any such Deferred Restoration Distribution shall be credited to the
Participant’s Deferred Restoration Distribution Account as soon as practicable after such amount would otherwise have been payable to the Participant. The amount in the Participant’s Deferred Restoration Distribution Account attributable
to the Participant’s Grandfathered Restoration Plan Benefit shall be payable under this Plan as follows: 

  

	 	(i)	If the Participant has otherwise made a Deferred Salary Election under Section 3.1 for the year that the Participant made a Deferred Restoration Distribution
Election, the amount credited to the Participant’s Deferred Restoration Distribution Account shall be payable at the same time and in the same form of distribution as any such Deferred Salary. 

 

	 	(ii)	If the Participant has not made a Deferred Salary Election but has otherwise made a Deferred Bonus Election under Section 3.2 for the year that the Participant
made a Deferred Restoration Distribution Election, the amount credited to the Participant’s Deferred Restoration Distribution Account shall be payable at the same time and in the same form of distribution as any such Deferred Bonus.

  

	 	(iii)	If the Participant has not made a Deferred Salary Election under Section 3.1 nor a Deferred Bonus Election under Section 3.2 for the year that the Participant
made a Deferred Restoration Distribution Election, the amount credited to the Participant’s Deferred Restoration Distribution Account equal to a Participant’s Grandfathered Restoration Plan Benefit shall be payable in the form of a single
lump sum payment at the Participant’s termination of employment unless the Participant makes an election to change the time and form of payment of such amount in accordance with the terms of this Plan. 

  
 -18-

	 	(c)	Non-Grandfathered Restoration Plan Benefit. A Participant’s Deferred Restoration Distribution Election with respect to amounts in excess of a
Participant’s Grandfathered Restoration Plan Benefit payable during a particular calendar year must specify the time and form of payment otherwise the Participant’s Deferred Restoration Plan Benefit shall be payable in the form of a single
lump sum payment at the Participant’s termination of employment. In addition, such Deferred Restoration Distribution Election shall not be effective unless the following requirements are met: 

 

	 	(i)	the election will not take effect until at least twelve months after the date on which the election is made and will not be recognized with respect to payments that
would otherwise have commenced during such twelve-month period; 

  

	 	(ii)	except for payments made on account of a Participant’s death, the first payment with respect to which such election is made shall be deferred for a period of not
less than five years from the date such payment would otherwise have been made; 

  

	 	(iii)	any election related to payments that would otherwise have commenced as of a specified time, as opposed to the Participant’s Separation from Service, may not be
made less than twelve months prior to the date on which such payments would otherwise have commenced; and 

  

	 	(iv)	any such additional deferral election shall not be effective if it would otherwise result in deferring amounts later than the mandatory distribution provisions of
Article VI. 

  

	Section 3.7	Deferral Period. 

  

	 	(a)	 In accordance with Section 2.2(b), and subject to the limitation of Section 3.7(b), each Participant must elect the deferral period for each
separate category of deferral (including, effective for deferral elections made on or after January 1, 2005, any Restoration Plan Benefit or part thereof credited 

  
 -19-

	 	
to a Participant’s Deferred Restoration Distribution Account). Subject to the additional deferral provisions of Section 3.8 and the acceleration provisions of Article VI, a
Participant’s deferral period with respect to amounts deferred other than those described in Section 3.7(b) may be for a specified number of years or until a specified date, subject to any limitations that the Committee in its discretion
may choose to apply (which limitations shall comply with the requirements for tax deferral under Code Section 409A), provided that, in all events, a deferral period must be for at least two (2) years from the first day of the Plan Year in
which the deferred amounts would otherwise be payable (or, in the case of amounts described in Section 3.4, credited to the Participant’s Account). However, notwithstanding the deferral period otherwise specified, payments shall be paid or
begin to be paid under the Plan in accordance with the mandatory distribution provisions in Article VI and any election which would otherwise result in a deferral beyond any applicable mandatory distribution age is invalid. 

 

	 	(b)	Notwithstanding the provisions of Section 3.7(a) and Section 2.2(b), and subject to Section 6.1(f), all Company Matching Credits credited to a
Participant’s Company Matching Credit Account pursuant to Section 3.4 shall be deferred until the Participant’s Separation from Service and may not be deferred to a specified date prior to such Participant’s Separation from
Service. The foregoing notwithstanding, in any case where the Participant is a Specified Employee, payment of the amounts under this Section 3.7(b) on account of the Participant’s Separation from Service shall be deferred until as soon as
practicable after the earlier of (i) the first day of the seventh month following the Participant’s Separation from Service (without regard to whether the Participant is reemployed on that date), or (ii) the date of the
Participant’s death, subject to any permitted further deferral election on account of a change in form of payment. 

  

	Section 3.8	Modification of Deferral Period. 

  

	 	(a)	 Additional Deferral – Grandfathered Deferrals. With respect to any previously deferred Grandfathered Deferred Compensation Plan Deferrals
or Grandfathered Restoration Plan Benefit credited to a Participant’s Accounts, a Participant may request that the Committee approve an additional deferral period of at least two (2) years from the date the previously deferred amounts were
otherwise payable. Any such request must be made by written notice to the Committee at least twelve (12) months before the expiration of the deferral period for any previously deferred amount with respect to which an additional deferral
election is requested. A separate additional deferral election is required to be made for each separate category of previously deferred amounts that is treated as subject to a single deferral period election under Section 2.2(b) above. Each
such additional deferral election request shall include a newly designated manner of payment election in accordance with the provisions 

  
 -20-

	 	
of Section 6.2 below. No more than two such extensions may be elected by a Participant with respect to any specific deferred amount and no such additional deferral may result in amounts
deferred beyond the mandatory distribution provisions of Article VI. 

  

	 	(b)	Additional Deferral – Non-Grandfathered Deferrals. With respect to any deferred amounts credited to a Participant’s Accounts in excess of a
Participant’s Grandfathered Deferred Compensation Plan Deferrals or Grandfathered Restoration Plan Benefit an additional deferral election otherwise described in Section 3.8(a) may be made, provided that such election shall not be
effective unless the following requirements are met: 

  

	 	(i)	the election will not take effect until at least twelve months after the date on which the election is made and will not be recognized with respect to payments that
would otherwise have commenced during such twelve-month period; 

  

	 	(ii)	except for payments made on account of a Participant’s death or financial hardship under Section 6.1(f), the first payment with respect to which such election
is made shall be deferred for a period of not less than five years from the date such payment would otherwise have been made; 

  

	 	(iii)	any election related to payments that would otherwise have commenced as of a specified time, as opposed to the Participant’s Separation from Service, may not be
made less than twelve months prior to the date on which such payments would otherwise have commenced; and 

  

	 	(iv)	any such additional deferral election shall not be effective if it would otherwise result in deferring amounts later than the mandatory distribution age provisions of
Article VI. 

  

	 	(c)	 Accelerated Distribution For Grandfathered Deferrals. With respect to any Grandfathered Deferred Compensation Plan Deferrals or Grandfathered
Restoration Plan Benefit credited to a Participant’s Accounts, a Participant may request that the Committee approve an accelerated deferral date with respect to amounts that are not otherwise payable for at least three (3) years from the
date of such request, provided that the resulting accelerated deferral date may not be any earlier than two (2) years from the date of such Participant election. A separate deferral modification election is required to be made for each separate
category of previously deferred amount that is treated as subject to a single deferral period election under Section 2.2(b) above. Each such modified deferral period request shall include a newly designated manner of payment election in
accordance with the provisions of Section 6.2 below. No more than two such modifications may be elected by a Participant with respect 

  
 -21-

	 	
to any specific deferred amount. No such election may be made with respect to any amounts deferred under this Plan in excess of any Grandfathered Deferred Compensation Plan Deferrals or
Grandfathered Restoration Plan Benefit credited to a Participant’s Accounts. 

  
 -22-

 ARTICLE IV 
 Restoration Benefits 
  

	Section 4.1	Amount of Restoration Plan Benefit. 

  

	 	(a)	A Participant’s Restoration Plan Benefit hereunder shall equal the excess (if any) of (i) the benefit that would have been payable under the Retirement Plan
in respect of the Participant in the absence of the provisions included in the Retirement Plan in order to comply with Sections 401(a)(17) and 415 of the Code, over (ii) the benefit actually payable in respect of the Participant under the
Retirement Plan. 

  

	 	(b)	Effective as of January 1, 2005, for purposes of calculating a Participant’s Restoration Plan Benefit under Section 4.1(a), if, as determined by the
Committee in its sole discretion, a Participant (i) permanently directly transferred employment from a foreign affiliate of the Company that has not adopted the Retirement Plan and this Plan to a member of the Group (as defined in the
Retirement Plan) that has adopted the Retirement Plan and this Plan or to a Unit (as defined in the Retirement Plan) to which participation in the Retirement Plan and this Plan has been extended, and (ii) while employed by the foreign
affiliate, had what the Committee determines (in its sole discretion) to be an agreement with such foreign affiliate to provide for deferred compensation that recognized the Participant’s period of employment by the foreign affiliate and
compensation paid to the Participant by the foreign affiliate, then the Participant’s period of employment by the foreign affiliate and compensation paid to the Participant by the foreign affiliate during the Participant’s period of
employment with the foreign affiliate shall be taken into account solely under this Plan to the same extent that such period of employment and compensation would have otherwise been taken into account had it been employment with and compensation
paid by the Company, a member of the Group that has adopted the Retirement Plan and this Plan, or a Unit to which participation in the Retirement Plan and this Plan has been extended. In addition, any such Participant’s Restoration Plan Benefit
shall be offset, solely to the extent permitted under Code Section 409A, for (i) any Social Security or other governmental pension or retirement benefit earned during the Participant’s period of employment with the foreign affiliate;
and (ii) any retirement benefit the Participant is entitled to under a foreign based retirement plan sponsored by the Company or member of the Group. 

 

	Section 4.2	Pre-Retirement Restoration Death Benefit. 

 In the event of the death of a Participant before Restoration Plan Benefits have commenced to be paid hereunder (a pre-retirement death), the Participant’s Beneficiary shall be entitled to a benefit
equal to the excess (if any) of (i) the benefit that would have been payable under the Retirement Plan to the 

  
 -23-

 
Beneficiary on account of the Participant’s death in the absence of the provisions included in the Retirement Plan in order to comply with Sections 401(a)(17) and 415 of the Code (and taking
into account service and compensation described in Section 4.1(b)), over (ii) the benefit actually payable to the Beneficiary on account of the Participant’s death under the Retirement Plan. Such benefit is hereinafter referred to as
a “Restoration Plan Death Benefit.” Subject to Section 4.5, and notwithstanding the provisions of Section 4.4 (and any procedures adopted thereunder), and unless provided otherwise in a Participant’s Agreement, if any, the
Restoration Plan Death Benefit payable to a Beneficiary on account of a Participant’s death before Restoration Plan Benefits have been paid or commenced to be paid hereunder (a pre-retirement death) shall be paid to the Participant’s
Beneficiary in a cash lump sum as soon as practicable following the earliest date that any such pre-retirement death benefit would otherwise be payable to such Beneficiary under the Retirement Plan (whether or not such Retirement Plan benefit is
actually paid or commenced at such date). 
  

	Section 4.3	Early Retirement Adjustments. 

 The calculations made in Sections 4.1 and 4.2 shall reflect any applicable adjustments under the Retirement Plan for early commencement and the form of benefit elected. 

 

	Section 4.4	Payment of Restoration Plan Benefits. 

  

	 	(a)	Grandfathered Restoration Plan Benefit. Subject to Section 4.5, the further provisions of this Article IV, and a Participant’s Agreement, if any, and
unless deferred under Section 3.6, a Participant’s Grandfathered Restoration Plan Benefit shall be paid to a Participant at such time and in such form as determined in accordance with procedures adopted and approved by the Compensation and
Benefits Committee of the Board of Directors of the Company (or any committee successor thereto), which procedures were in effect as of October 3, 2004. A copy of such procedures is attached hereto as Attachment A. 

 

	 	(b)	Non-Grandfathered Restoration Plan Benefit.1 Except as otherwise provided herein, or otherwise provided in a Participant’s Agreement, if

  

	1 	 By way of reference, the Retirement Plan was amended effective April 1, 2007 to add a cash balance formula for determining the benefits available
under the Retirement Plan. Pursuant to the terms of the Retirement Plan, the cash balance formula is used to determine the benefits of participants who were hired by the Company on or after April 1, 2007 as well as those participants who were
actively participating in the Retirement Plan on that date and who affirmatively elected to be covered under the cash balance provisions of the Plan. The benefits of participants who were active prior to April 1, 2007 and who did not elect cash
balance coverage are determined under the Retirement Plan’s final average pay formula. If any such participant terminates and is subsequently reemployed, that participant’s benefit for service performed after reemployment will be
determined under the cash balance provisions of the Retirement Plan, whereas his benefit attributable to his prior employment will be determined under the final average pay provisions of the Retirement Plan. Consistent with Section 409A and the
guidance issued thereunder, and as confirmed in Q&A 39 of the ABA Section of Taxation’s 2008 IRS Q&A Report, this Plan provides different time and form of payment with respect to separately identifiable amounts attributable to
Restoration Plan Benefits calculated using the cash balance formula versus those calculated using the final average pay formula. 

  
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any, and unless deferred under Section 3.6, Restoration Plan Benefit amounts in excess of the Grandfathered Restoration Plan Benefit shall be payable to a Participant as follows:

  

	 	(i)	Normal Form of Payment. A Participant’s vested Restoration Plan Benefit shall be paid in the “Normal Form of Payment,” which is a single lump sum
payment determined as follows: 

  

	 	(A)	FAP Participant. With respect to a Participant whose Restoration Plan Benefit is determined using the final average pay formula under the Retirement Plan, the
Normal Form of Payment shall be a single lump sum payment that shall equal the actuarial present value (at the time payment becomes due) of the Participant’s Restoration Plan Benefit based on the final average pay formula, determined as of
normal retirement age under the Retirement Plan, based on the Applicable Interest Rate and the Applicable Mortality Table (as such terms are defined in the Retirement Plan) used under the Retirement Plan for calculating present values.

  

	 	(B)	Cash Balance Participant. With respect to a Participant whose Restoration Plan Benefit is determined using the cash balance formula under the Retirement Plan,
the Normal Form of Payment shall be a single lump sum payment equal to the Participant’s Restoration Plan Benefit (at the time payment becomes due) determined in accordance with Section 4.1, expressed as an account balance benefit.

  

	 	(C)	FAP and Cash Balance Participant. For a Participant whose Restoration Plan Benefit is determined using both the final average pay formula and the cash balance
formula under the Retirement Plan, the Normal Form of Payment with respect to the portion of the Participant’s Restoration Plan Benefit calculated using the final average pay formula under the Retirement Plan shall be as described in
subparagraph (A) and the Normal Form of Payment with respect to the portion of the Participant’s Restoration Plan Benefit calculated using the cash balance formula under the Retirement Plan shall be as described in subparagraph
(B) above. 

  
 -25-

	 	(D)	Cash Balance Conversion Participant. For a Participant whose benefit under the Retirement Plan is converted on or after January 1, 2013 from being
calculated using the final average pay formula under the Retirement Plan to being calculated using the cash balance formula under the Retirement Plan, the Normal Form of Payment for the Participant’s entire Restoration Plan Benefit shall be as
described in subparagraph (B) above. 

  

	 	(ii)	Timing of Payment. A Participant’s vested Restoration Plan Benefit shall be paid or commence to be paid in the Normal Form of Payment as follows:

  

	 	(A)	FAP Participant. Subject to subparagraph (E) below, to the extent that a Participant’s Restoration Plan Benefit is determined using the final average
pay formula under the Retirement Plan, amounts shall commence to be paid as soon as practicable after the later of (I) the Participant’s Separation from Service or (II) the earliest date on which the Participant first becomes eligible to
receive or commence receiving benefits under the Retirement Plan after Separation from Service (i.e., the earlier of attainment of age 55 with 10 years of service as determined under the Retirement Plan or age 65) regardless of the time benefits are
actually paid or commence to be paid under the Retirement Plan. 

  

	 	(B)	Cash Balance Participant. Subject to subparagraph (E) below, if a Participant’s Restoration Plan Benefit is determined using the cash balance formula
under the Retirement Plan, amounts shall be paid as soon as practicable after the Participant’s Separation from Service. 

  

	 	(C)	FAP and Cash Balance Participant. Subject to subparagraph (E) below, to the extent that a Participant’s Restoration Plan Benefit is determined using
both the final average pay formula and the cash balance formula under the Retirement Plan, payment shall commence with respect to the portion of the Participant’s Restoration Plan Benefit calculated using the final average pay formula under the
Retirement Plan on the date described in subparagraph (A) above and payment shall commence with respect to the portion of the Participant’s Restoration Plan Benefit calculated using the cash balance formula under the Retirement Plan on the
date described in subparagraph (B) above. 

  
 -26-

	 	(D)	Cash Balance Conversion Participant. Subject to subparagraph (E) below, in the case of a Participant whose benefit under the Retirement Plan is converted on
or after January 1, 2013 from being calculated using the final average pay formula under the Retirement Plan to being calculated using the cash balance formula under the Retirement Plan, payment of such Participant’s entire Restoration
Plan Benefit shall commence on the date described in subparagraph (A) above. 

  

	 	(E)	Specified Employee. In any case where the Participant is a Specified Employee and the Participant’s Restoration Plan Benefit in excess of the
Participant’s Grandfathered Restoration Plan Benefit is payable on account of the Specified Employee’s Separation from Service, the Participant’s Restoration Plan Benefit under this Section shall be paid or commence to be paid as soon
as practicable following the earlier of (I) or (II) where: (I) is the later of (A) the date otherwise provided under the Plan or (B) the first day of the seventh month following the Participant’s Separation from Service
(without regard to whether the Participant is reemployed on that date); and (II) is the date of the Participant’s death. 

  

	 	(iii)	The Participant’s ability to elect an alternate form of distribution other than the Normal Form of Payment is described in Section 6.2. The death benefits
attributable to a Participant’s Restoration Plan Benefit under the Plan in the event of the Participant’s death after Restoration Plan Benefit payments have commenced, if any, will be determined pursuant to the terms of the form of payment
elected by the Participant. 

  

	Section 4.5	Payment of Restoration Plan Benefit Following Change in Control. 

  

	 	(a)	Grandfathered Restoration Plan Benefit. Notwithstanding the provisions of Section 4.4 (and any procedures adopted thereunder), and unless provided otherwise
in a Participant’s Agreement, if any, each Participant’s Grandfathered Restoration Plan Benefit shall (to the extent not previously paid or commenced to be paid) be paid to the Participant in a cash lump sum as soon as practicable, but not
later than 45 business days, after a Participant’s termination of employment following a Change in Control. 

  

	 	(b)	 Non-Grandfathered Restoration Plan Benefit – FAP Participant and Cash Balance Conversion Participant. Notwithstanding the provisions of
Sections 4.4(b)(ii)(A), 4.4(b)(ii)(C) and 4.4(b)(ii)(D) (and any procedures adopted thereunder), and unless provided otherwise in a Participant’s Agreement, if any, to the extent that a Participant’s Restoration Plan

  
 -27-

	 	
Benefit that is determined using the final average pay formula under the Retirement Plan or is otherwise described in Section 4.4(b)(i)(D) and that is in excess of his Grandfathered
Restoration Plan Benefit, if any, shall (to the extent not previously paid or commenced to be paid) be paid to the Participant in a cash lump sum as soon as practicable, but not later than 45 business days, after the Participant’s Separation
from Service following a Change in Control; provided, however, that such a distribution shall only be made if: (i) the Change in Control satisfies the requirements of Code Section 409A(a)(2)(A)(v) (and the guidance issued thereunder) and
such Separation from Service occurs within 2 years of the Change in Control; or (ii) distribution may otherwise be made under this Plan on account of Separation from Service. 

 

	 	(c)	Specified Employee. In any case where the Participant is a Specified Employee and the Participant’s Restoration Plan Benefit in excess of the
Participant’s Grandfathered Restoration Plan Benefit is payable pursuant to Section 4.5(b) on account of the Specified Employee’s Separation from Service within 2 years of a qualified Change in Control, payment of the
Participant’s Restoration Plan Benefit under this Section shall be deferred until the earlier of (i) first day of the seventh month following the Participant’s Separation from Service (without regard to whether the Participant is
reemployed on that date), or (ii) the date of the Participant’s death. 

  

	Section 4.6	Restoration Plan Benefit on Account of Disability Retirement. 

  

	 	(a)	Grandfathered Restoration Plan Benefit. Notwithstanding the provisions of Section 4.4 (and in accordance with any procedures adopted thereunder), and unless
provided otherwise in a Participant’s Agreement, if any, a Participant who terminates employment on account of a Disability Retirement (as determined under the Retirement Plan) may make a written request to the Committee to receive payment of
his Grandfathered Restoration Plan Benefit in a single lump sum as soon as practicable thereafter; provided however, that payment to a Participant under this Section 4.6 shall only be made if the Committee, in its sole and absolute discretion,
determines to make such payment. Any decision by the Committee hereunder shall be final and binding. If a Participant’s request is denied, payment of the Participant’s Plan benefits shall be made in accordance with the otherwise applicable
provisions of the Plan (and any procedures then in effect). 

  

	 	(b)	 Non-Grandfathered Restoration Plan Benefit. Notwithstanding anything in the Plan to the contrary, if a Participant suffers a Disability and
becomes Disabled, that portion of the Participant’s Restoration Plan Benefit in excess of the Grandfathered Restoration Plan Benefit shall be paid on account of Disability in the form of a single lump sum cash payment as soon as practicable
following the later of (i) the date the 

  
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Participant attains age 65; or (ii) the date of the Participant’s Disability. The amount of any such lump sum payment in respect of a Disabled Participant hereunder whose Restoration
Plan Benefit is determined using the final average pay formula under the Retirement Plan shall equal the actuarial present value of the Participant’s vested Restoration Plan Benefit determined as of the date such benefit payment becomes due
hereunder, based on the Applicable Interest Rate and the Applicable Mortality Table (as such terms are defined in the Retirement Plan) used under the Retirement Plan for calculating the present value of optional forms of payment at the time payment
is due under the Plan. The amount of any such lump sum payment in respect of a Disabled Participant hereunder whose Restoration Plan Benefit is determined using the cash balance formula under the Retirement Plan or that is otherwise described in
Section 4.4(b)(i)(D) shall be the Participant’s Restoration Plan Benefit as of the date such benefit payment becomes due hereunder, determined in accordance with Section 4.1. If such a Participant dies or incurs a Separation from
Service prior to the date of payment under this Section 4.6(b), payment shall be made in accordance with the otherwise applicable provisions of this Plan. 

  
 -29-

 ARTICLE V 
 Participants’ Accounts 
  

	Section 5.1	Crediting of Employee Deferrals and Company Matching and Discretionary Credits. 

Deferrals to this Plan that are made under Article III shall be credited to the Participant’s Accounts in accordance with such rules
established by the Committee from time to time. Each Participant’s Accounts shall be administered in a way to permit separate Deferral Elections, deferral periods, and Investment Elections with respect to various Plan Year deferrals and
compensation types as the Committee determines, in its sole discretion, are necessary or appropriate. 
  

	Section 5.2	Investment Election. 

Participants’ Investment Elections with respect to deferred amounts hereunder shall be made pursuant to the written, telephonic or
electronic methods prescribed by the Committee and subject to such rules on Investment Elections and Investment Options as established by the Committee from time to time. Upon receipt by the Committee, and in accordance with rules established by the
Committee, an Investment Election shall be effective as soon as practicable after receipt and processing of the election by the Committee. Investment Elections will continue in effect until changed by the Participant. Subject to Section 5.3(b),
an eligible Participant may change a prior Investment Election (or default Investment Election) with respect to deferred amounts on a daily basis, by notifying the Committee, at such time and in such manner as approved by the Committee. Any such
changed Investment Election may result in amending Investment Elections for prior deferrals or for future deferrals or both. 
  

	Section 5.3	Hypothetical Earnings. 

  

	 	(a)	General. Subject to Section 5.2, except as otherwise provided herein, additional hypothetical bookkeeping amounts shall be credited to (or deducted from) a
Participant’s Accounts to reflect the earnings (or losses) that would have been experienced had the deferred amounts been invested in the Investment Options selected by the Participant as targeted rates of return, net of all fees and expenses
otherwise associated with the Investment Options. The Committee may add or delete Investment Options, on a prospective basis, by notifying all Participants whose Accounts are hypothetically invested in such Investment Options, in advance, and
soliciting elections to transfer deferred amounts so that they track investments in other Investment Options then available. 

  

	 	(b)	Company Stock Investment Option. 

  

	 	(i)	 A Participant’s Deferred Equity Compensation is automatically credited in the form of Common Stock to the Participant’s Deferred Stock
Account. With respect to other deferred amounts 

  
 -30-

	 	
hereunder, instead of having deferred amounts credited with hypothetical earnings (or losses) in accordance with Section 5.3(a), and subject to Section 5.2, a Participant may elect to
have part of the Participant’s deferred amounts (in whole percentage increments) credited in the form of Common Stock to a Deferred Stock Account; provided, however, that a Participant may not make an election to have any future deferred
amounts credited to a Deferred Stock Account if, at the time of the election, more than 10% of the balance of the Participant’s deferred amounts are credited to a Deferred Stock Account (disregarding amounts in the Participant’s Deferred
Equity Compensation Account, if any). For purposes of administering this rule and subject to the Committee’s right to adopt administrative procedures pursuant to Section 5.3(b)(viii) below, the following additional rules apply:

  

	 	(A)	Any Investment Election that is in effect on January 1, 2010, that would require future deferred amounts to be credited to the Participant’s Deferred Stock
Account and that would otherwise violate the 10% limitation set forth above shall be void and of no effect. In the absence of a Participant’s amending such Investment Election on or before January 1, 2010, pursuant to procedures
implemented by the Committee, the Participant’s future deferred amounts that would otherwise have been credited to the Deferred Stock Account will be hypothetically invested in another Investment Option selected by the Committee for this
purpose. 

  

	 	(B)	Any Investment Election made after January 1, 2010, that would otherwise violate the 10% limitation set forth above shall be void and of no effect. In the absence
of a Participant amending such Investment Election or otherwise making a new Investment Election that complies with this Section 5.3(b)(i), the Participant’s future deferred amounts that would otherwise have been credited to the Deferred
Stock Account will be hypothetically invested in another Investment Option selected by the Committee for this purpose. 

  

	 	(ii)	 If the restrictions of Section 5.3(b)(i) do not apply (such that the Participant may otherwise elect to have deferred amounts credited to the
Deferred Stock Account), in no event may a Participant make an Investment Election to have more than 10% of any future deferred amounts (disregarding Deferred Equity Compensation) credited to the Deferred Stock Account. Any Investment Election that
would otherwise violate the provisions of this Section 5.3(b)(ii) shall be void and of no effect. In the absence of a 

  
 -31-

	 	
Participant amending such Investment Election or otherwise making a new Investment Election that complies with this Section 5.3(b)(ii), the Participant’s future deferred amounts that
would otherwise have been credited to the Deferred Stock Account will be hypothetically invested in another Investment Option selected by the Committee for this purpose. Notwithstanding the foregoing, if any Investment Election otherwise in effect
on January 1, 2010 would violate the limitations of this Section 5.3(b)(ii), then, in the absence of a Participant’s amending that Investment Election on or before January 1, 2010, pursuant to procedures implemented by the
Committee, the Participant’s Investment Election will be modified so that the Investment Election is reduced so that 10% of future deferred amounts are credited to the Deferred Stock Account with the remaining deferred amounts hypothetically
invested in another Investment Option selected by the Committee for this purpose. 

  

	 	(iii)	Elections under this Section 5.3(b) may be made as a part of the Participant’s Deferral Election and thereafter on the same basis as Participants are
permitted to make other Investment Elections and using the same or similar procedures as Participants use to make other Investment Elections under Section 5.2. In addition, any amounts credited to a Participant’s Accounts other than the
Participant’s Deferred Stock Account may be transferred for hypothetical investment tracking purposes to the Participant’s Deferred Stock Account; provided, however, that a Participant may not elect any such transfer that would increase
the Participant’s hypothetical investment in Common Stock credited to the Deferred Stock Account if, at the time of the election or as a result thereof, more than 10% of the Participant’s Deferred Stock Account (excluding any Deferred
Equity-Based Compensation) is or would be credited to the Participant’s Deferred Stock Account. Any transfer election that violates the provisions of this Section 5.3(b)(iii) shall be void and of no effect. In all events, once amounts are
credited to a Participant’s Deferred Stock Account, no Investment Election may cause amounts credited to a Participant’s Deferred Stock Account to be transferred for hypothetical investment tracking purposes to a Participant’s
Accounts other than the Participant’s Deferred Stock Account. All distributions of amounts credited to a Participant’s Deferred Stock Account may only be distributed in whole shares of Common Stock (with cash for fractional shares).

  

	 	(iv)	A Participant’s Deferred Stock Account will be credited: 

  

	 	(A)	 as of the first business day after the last day of each bi-weekly payroll period, with the number of shares of Common Stock (in whole shares and
fractional shares, as 

  
 -32-

	 	
determined by the Committee) determined by dividing the Participant’s deferred amounts attributable to Deferred Salary for such bi-weekly payroll period subject to the Deferred Stock
Election by the price for shares of Common Stock, determined by the Committee, as of the day such deferred amounts are credited to the Participant’s Account; and 

 

	 	(B)	annually, as of the first business day in January of each calendar year, with the number of shares of Common Stock (in whole shares and fractional shares, as determined
by the Committee) determined by dividing the portion of the Participant’s Deferred Bonus and Company Matching Credits subject to the Deferred Stock Election by the price for shares of Common Stock, determined by the Committee, as of the day
such deferred amounts are credited to the Participant’s Accounts; and 

  

	 	(C)	at such other times as the Committee determines with respect to all other deferred amounts under the Plan, with the number of shares of Common Stock (in whole shares
and fractional shares, as determined by the Committee) determined by dividing the portion of the Participant’s deferred amounts to be credited in the Deferred Stock Account by the price for shares of Common Stock, determined by the Committee,
as of the day such deferred amounts are credited to the Participant’s Account, or, in the case of deferred amounts measured in stock units, by crediting the account with the same number of shares of Common Stock. 

 

	 	(v)	If the Company enters into transactions involving stock splits, stock dividends, reverse splits or any other recapitalization transactions, the number of shares of
Common Stock credited to a Participant’s Deferred Stock Account will be adjusted (in whole shares and fractional shares, as determined by the Committee) so that the Participant’s Deferred Stock Account reflects the same equity percentage
interest in the Company after the recapitalization as was the case before such transaction. 

  

	 	(vi)	 If at least a majority of the Company’s stock is sold or exchanged by its shareholders pursuant to an integrated plan for cash or property
(including stock of another corporation) or if substantially all of the assets of the Company are disposed of and, as a consequence thereof, cash or property is distributed to the Company’s shareholders, each Participant’s Deferred Stock
Account will, to the extent not already so credited under this 

  
 -33-

	 	
Section 5.3(b), be (i) credited with the amount of cash or property receivable by a Company shareholder directly holding the same number of shares of Common Stock as is credited to such
Participant’s Deferred Stock Account and (ii) debited by that number of shares of Common Stock surrendered by such equivalent Company shareholder. 

 

	 	(vii)	Each time the Company declares a dividend on its Common Stock, each Participant’s Deferred Stock Account will be credited with a Dividend Reinvestment Return equal
to that number of shares of Common Stock (in whole shares and fractional shares, as determined by the Committee) determined by dividing (i) the amount that would have been paid (or the fair market value thereof, if the dividend is not paid in
cash) to the Participant on the total number of shares of Common Stock credited to the Participant’s Deferred Stock Account had that number of shares of Common Stock been held by such Participant by (ii) the price for shares of Common
Stock, determined by the Committee, as of the dividend payment date. 

  

	 	(viii)	The Committee may adopt administrative procedures to implement the provisions of this Section 5.3(b). 

 

	 	(c)	Limitations on Allocations and Reallocations to and From Deferred Stock Account. 

In addition to the limitations of Section 5.3(b), pursuant to the Policy Statement on Insider Trading and Compliance, as the same
may be amended (the “Policy”), there are time periods (each, a “blackout period”) during which time Participants may not effect transactions, directly or indirectly, in Company equity securities. Under the Policy, the
Company’s Corporate Secretary may also impose additional blackout periods with respect to some or all Participants. Participants whose ability to effect transactions is prohibited during such blackout periods also will be prohibited during such
periods from making any Investment Election or Deferred Stock Election that affects the amount credited to the Participant’s Deferred Stock Account. The Committee, at the direction of the Company’s Corporate Secretary, shall adopt and
implement procedures to ensure that the provisions of this Paragraph are carried out. In all events, with respect to amounts in excess of a Participant’s Grandfathered Deferred Compensation Plan Deferrals and Grandfathered Restoration Plan
Benefit, to the extent that the blackout period results in a deferral of payment under the Plan, payment must be made at the earliest date at which the Company reasonably anticipates that the making of the payment will not cause a violation of
federal securities laws or other applicable law. 

  
 -34-

	Section 5.4	Vesting. 

  

	 	(a)	Deferred Amounts. At all times a Participant shall be fully vested in his Deferred Salary, Deferred Bonus, Deferred Equity-Based Compensation, and Deferred
Restoration Distribution Accounts hereunder (including any earnings or losses and Dividend Reinvestment Return thereon). A Participant shall become vested in any Company Matching Credits in the same manner and to the same extent as the Participant
is vested in matching contributions otherwise credited to the Participant under the SIP. A Participant shall become vested in any Company Discretionary Credits pursuant to the vesting schedule established by the Company at the time such Credits, if
any, are made. Except as otherwise provided in Section 6.1(b) (death) or Section 6.1(c) (disability), if a Participant incurs a Separation from Service at any time prior to becoming fully vested in amounts credited to the
Participant’s Accounts hereunder, the nonvested amounts credited to the Participant’s Accounts shall be immediately forfeited and the Participant shall have no right or interest in such nonvested deferred amounts. 

 

	 	(b)	Restoration Plan Benefit. A Participant shall be vested in his Restoration Plan Benefit, if any, to the extent he is vested in his benefit under the Retirement
Plan as determined pursuant to the provisions of the Retirement Plan. 

  

	Section 5.5	Account Statements. 

Within 60 days following the end of each Plan Year (or at such more frequent times determined by the Committee), the Committee shall
furnish each Participant with a statement of Account which shall set forth the balances of the individual’s Accounts as of the end of such Plan Year (or as of such time determined by the Committee), inclusive of tracked earnings (or losses) and
any Dividend Reinvestment Return. In addition, the Committee shall maintain records reflecting each year’s deferrals separately by type of compensation. 

  
 -35-

 ARTICLE VI 
 Distributions and Withdrawals 
  

	Section 6.1	Timing of Distributions. 

  

	 	(a)	Timing of Distribution – Distributions of Vested Accounts Other than Death, Disability, or Scheduled Distributions. The time and form of payment of
Restoration Plan Benefits that are not otherwise deferred under Section 3.6 of the Plan are governed by the provisions of Article IV and those provisions of this Article VI specifically referring to Restoration Plan Benefit payment options.
Except as otherwise provided herein, in the case of a Participant who incurs a Separation from Service before retirement from active employment (as defined below), a Participant’s vested Accounts shall be paid or commence to be paid, in the
form of distribution elected in a particular Deferral Election (subject to Section 6.2), as soon as practicable (as determined by the Committee) after the Participant’s Separation from Service. In the case of a Participant who retires from
active employment hereunder (as defined below), and subject to Section 6.1(e) and Section 6.1(f), a Participant’s vested Accounts shall be paid or commence to be paid, in the form of distribution elected in a particular Deferral
Election (subject to Section 6.2), as soon as practicable (as determined by the Committee) following the later of: (I) the date the Participant retires from active employment (or, in the case of certain Equity-Based Compensation that vests
one year after retirement, one year after retirement), or (II) the date otherwise specified in the Participant’s Deferral Election; provided however that, in all events distributions under this subparagraph (II) of deferred amounts in excess of
the Participant’s Grandfathered Restoration Plan Benefits must be made (or commence to be paid) as of the earlier of the Participant’s attainment of age 70 or death. For purposes of this Section 6.1(a), a Participant “retires
from active employment” if: 

  

	 	(i)	the Participant Separates from Service or an affiliate after having attained age 65; 

 

	 	(ii)	the Participant Separates from Service after having attained age 55 with ten years of service (as determined under the Retirement Plan) or an affiliate; or

  

	 	(iii)	with respect to Grandfathered Deferred Compensation Plan Deferrals and Grandfathered Restoration Plan Benefits, the Committee, in its sole discretion, otherwise
determines that the Participant has retired for this purpose. 

 The foregoing notwithstanding, in any case where
the Participant is a Specified Employee, payment of amounts in the Participant’s vested Accounts in excess of Grandfathered Deferred Compensation Plan 

  
 -36-

 
Deferrals under this Section 6.1(a) on account of the Specified Employee’s Separation from Service shall be deferred until the earlier of (x) first day of the seventh month
following the Participant’s Separation from Service (without regard to whether the Participant is reemployed on that date), or (y) the date of the Participant’s death, subject to any additional deferral of such payments as provided
for in the Plan. 
  

	 	(b)	Timing of Distributions – Participant’s Death. 

 If a Participant dies before the full distribution of the Participant’s Accounts under this Article VI, any deferred amounts that are not vested and have not previously been forfeited shall become
100% vested. Unless the Participant had commenced receiving installment payments, as soon as practicable after the Participant’s death, all remaining amounts credited to the Participant’s Accounts shall be paid in a single lump sum payment
to the Participant’s named Beneficiary (or Beneficiaries). In the absence of any Beneficiary designation, payment shall be made to the personal representative, executor or administrator of the Participant’s estate. Beneficiary designations
may be changed by a Participant at any time without the consent of the Participant’s Spouse or any prior Beneficiary. If the Participant dies after having commenced to receive installment payments, the Participant’s Beneficiary may
accelerate the payment of any remaining installment payments attributable to Grandfathered Deferred Compensation Plan Deferrals or a Grandfathered Restoration Plan Benefit as follows: 

 

	 	(i)	The Beneficiary may request (within a reasonable time after the Participant’s death, as specified by the Committee) that all remaining installment payments that
are otherwise to be paid to the Beneficiary at least twelve (12) months after the date of the request be accelerated and paid in a single lump sum payment as of a date specified by the Committee that is at least twelve (12) months after
the date of the request; or 

  

	 	(ii)	The Beneficiary may request (within a reasonable time after the Participant’s death, as specified by the Committee) that all remaining installment payments that
are otherwise to be paid to the Beneficiary be accelerated and paid in the form of an immediate lump sum payment, subject to the requirement that ten percent (10%) of the remaining amounts be permanently forfeited. 

With respect to amounts in excess of amounts attributable to a Participant’s Grandfathered Deferred Compensation Plan Deferrals or
Grandfathered Restoration Plan Benefits, if a Participant dies after having commenced to receive installment payments pursuant to a scheduled distribution election, the Participant’s Beneficiary shall receive the remaining installment payments
as said payments become due under the scheduled distribution option elected by the Participant. 

  
 -37-

	 	(c)	Timing of Distributions – Participant’s Disability. 

 Notwithstanding anything in the Plan to the contrary, if a Participant becomes Disabled, any deferred amounts that are not vested and have not previously been forfeited shall become 100% vested.
Notwithstanding anything in a Participant’s Deferral Election to the contrary with respect to payment commencement, as soon as practicable after the Participant becomes Disabled, all remaining amounts credited to the Participant’s Accounts
(other than amounts attributable to Restoration Plan Benefits) shall be paid or commence to be paid to the Participant in the form of distribution elected by the Participant in the Participant’s Deferral Election. In addition, as soon as
practicable after the Participant becomes Disabled and with respect to Grandfathered Deferred Compensation Plan Deferrals or deferred Grandfathered Restoration Plan Benefits, the Participant may request that the Committee change any installment
distribution election so that amounts subject to the election are accelerated and paid in the form of a single lump sum distribution. Such distribution shall be made only if the Committee, taking into account the type of factors taken into account
in the event of a hardship under Section 6.1(f), in its sole discretion, approves such request. 
  

	 	(d)	 Scheduled Distribution. As a part of the Participant’s Deferral Election with respect to scheduled distributions, a Participant may elect
to receive a lump sum distribution or annual installments (over 2, 3, 4 or 5 years, as elected by the Participant) equal to all or any part of the vested balance of the Participant’s Accounts to be paid (or commence to be paid) at a scheduled
distribution date, subject to the timing requirements in Section 6.1(a) and the limitations of Section 3.7(b). For these purposes, the amount of each installment payment shall be determined by multiplying the value of the
Participant’s remaining vested Accounts subject to the scheduled distribution election by a fraction, the numerator of which is one (1) and the denominator of which is the number of calendar years remaining in the installment period. These
scheduled distributions are generally available only for distributions that are scheduled to commence to be paid while a Participant is employed by the Company. If a Participant incurs a Separation from Service before commencing receipt of scheduled
distributions, the timing requirements of Section 6.1(a) shall apply (which requirements provide for payment upon Separation from Service, unless the Participant has attained retirement age, in which case a later distribution date may apply).
If a Participant Separates from Service while receiving scheduled installment payments, such installment payments shall continue to be paid in the same form of distribution, subject to the Participant’s right to accelerate the remaining
payments in accordance with Section 6.1(e) or Section 6.1(f). Notwithstanding the 

  
 -38-

	 	
foregoing, if a Participant’s employment is terminated for cause, as determined by the Company, full payment of all remaining amounts attributable to Grandfathered Deferred Compensation Plan
Deferrals and deferred Grandfathered Restoration Plan Benefits in such Participant’s Account shall be paid in the form of a single lump sum payment as soon as practicable after such termination. 

 

	 	(e)	Early Distribution – Grandfathered Deferrals. Notwithstanding any other provision of the Plan, a Participant or Beneficiary may, at any time prior to or
subsequent to commencement of payments, request in writing to the Committee to have any or all vested amounts in his or her Accounts that constitute Grandfathered Deferred Compensation Plan Deferrals or deferred Grandfathered Restoration Plan
Benefits paid in an immediate lump sum distribution, provided that an amount equal to ten percent (10%) of the requested distribution shall be permanently forfeited from the Participant’s Accounts prior to such distribution. Any such lump
sum distribution shall be paid as soon as practicable after the Committee’s receipt of the Participant’s (or Beneficiary’s) request. The minimum permitted early distribution under this Section 6.1(e) shall be $3,000.

  

	 	(f)	Hardship Distribution. At any time prior to the time an amount is otherwise payable hereunder, an active Participant may request a distribution of all or a
portion of any vested amounts credited to the Participant’s Accounts on account of the Participant’s financial hardship, subject to the following requirements: 

 

	 	(i)	Such distribution shall be made, in the sole discretion of the Committee, if the Participant has incurred an unforeseeable emergency. The Committee shall consider any
requests for payment under this Section 6.1(f) in accordance with the standards of interpretation described in Code Section 409A and the regulations and other guidance thereunder. 

 

	 	(ii)	 For purposes of this Plan, an “unforeseeable emergency” shall be limited to a severe financial hardship to the Participant resulting from an
illness or accident of the Participant, the Participant’s Spouse, the Participant’s Beneficiary, or of a Participant’s dependent (as defined in Code Section 152, without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B));
loss of the Participant’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance, for example, not as a result of a natural disaster); the need to pay for the funeral
expenses of the Participant’s Spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B)); or other similar
extraordinary and unforeseeable circumstances arising as a result of events beyond 

  
 -39-

	 	
the control of the Participant. Whether a Participant is faced with an unforeseeable emergency will be determined based on the relevant facts and circumstances of each case and be based on the
information supplied by the Participant, in writing, pursuant to the procedure prescribed by the Committee. In addition to the foregoing, distributions under this subsection shall not be allowed for purposes of sending a child to college or the
Participant’s desire to purchase a home or other residence. In all events, distributions made on account of an unforeseeable emergency are limited to the extent reasonably needed to satisfy the emergency need (which may include amounts
necessary to pay any federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from the distribution). 

  

	 	(iii)	Notwithstanding the foregoing, distribution on account of an unforeseeable emergency under this subsection may not be made to the extent that such emergency is or may
be relieved: 

  

	 	(A)	through reimbursement or compensation by insurance or otherwise, 

  

	 	(B)	by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship, or

  

	 	(C)	by cessation of deferrals under the Plan. 

  

	 	(iv)	All distributions under this subsection shall be made in cash as soon as practicable after the Committee has approved the distribution and that the requirements of this
subsection have been met. 

  

	 	(v)	The minimum permitted hardship distribution shall be $3,000. 

  

	Section 6.2	Form of Distribution. 

  

	 	(a)	General. Except as otherwise provided in this Article VI, all amounts payable from a Participant’s Accounts shall be paid in one of the forms of
distribution described in this Section 6.2, as elected by the Participant in a Deferral Election or as modified by the Participant in accordance with Section 6.2(e) below. Any Participant who fails to elect a form of distribution with
respect to any deferral amount (or any compensation type) shall be deemed to have elected to receive such amounts in the form of a lump sum distribution in cash and, to the extent distributable amounts are credited to the Participant’s Deferred
Stock Account, in shares of Common Stock (with any fractional share interest therein paid in cash to the extent of the then fair market value thereof). 

  
 -40-

	 	(b)	Distribution Alternatives for Restoration Plan Benefits. A Participant who is eligible to receive a Restoration Plan Benefit hereunder shall receive payment of
such benefit in the Normal Form of Payment unless the Participant, subject to Section 6.2(e) below, elects an optional form of distribution as described in Section 6.2(d) below or an annuity form of benefit otherwise available under the
Retirement Plan. 

  

	 	(c)	Lump Sum Distribution. A Participant may elect, in accordance with such procedures established by the Committee, to have any vested deferral amounts credited to
his Accounts paid in the form of a single lump sum distribution at the time otherwise required or permitted under the Plan. 

  

	 	(d)	Annual Installment Distributions. A Participant may elect, in accordance with such procedures established by the Committee, to have any vested deferral amounts
credited to his Accounts paid at the time otherwise required or permitted in the form of annual installments over a 5, 10 or 15-year period commencing at the time otherwise required or permitted under the Plan and paid annually thereafter for the
remainder of the installment period (subject to Section 6.1(b)). For these purposes, the amount of each installment payment shall be determined by multiplying the value of the Participant’s remaining vested Accounts by a fraction, the
numerator of which is one (1) and the denominator of which is the number of calendar years remaining in the installment period. Notwithstanding the foregoing, if a Participant’s employment is terminated for cause, as determined by the
Company, full payment of all remaining amounts attributable to Grandfathered Deferred Compensation Plan Deferrals and deferred Grandfathered Restoration Plan Benefits in such Participant’s Account shall be paid in the form of a single lump sum
payment as soon as practicable after such termination. 

  

	 	(e)	Change in Form  

  

	 	(i)	Grandfathered Amounts. 

The following provisions shall apply solely with respect to Grandfathered Deferred Compensation Plan Deferrals and deferred Grandfathered
Restoration Plan Benefits: 
  

	 	(A)	 Notwithstanding the foregoing, in accordance with the written, telephonic or electronic procedures prescribed by the Committee, a Participant may elect
to change the form applicable to a particular category of deferral attributable to Grandfathered Deferred Compensation Plan Deferrals or deferred Grandfathered Restoration Plan Benefits at any time, provided that such election must be made at least
twelve (12) consecutive months before the date on which such distribution otherwise would have been made or 

  
 -41-

	 	
commenced. Any such change that is not in effect for at least the applicable twelve-month period shall be disregarded and the last valid election shall be substituted in its place. In the absence
of such a valid election, distribution shall be made in the form of a single lump sum distribution in cash and, to the extent distributable amounts are credited to the Participant’s Deferred Stock Account, in shares of Common Stock (with any
fractional share interest therein paid in cash to the extent of the then fair market value thereof). 

  

	 	(B)	In addition, with respect to a Participant who has commenced receiving his Grandfathered Deferred Compensation Plan Deferrals or deferred Grandfathered Restoration Plan
Benefit paid in installment payments, such Participant may elect, pursuant to the written, telephonic or electronic method prescribed by the Committee (or its delegate), to have all remaining installment payments attributable to such grandfathered
amounts that are otherwise to be paid to the Participant at least twelve (12) months after the date of the election be accelerated and paid in a single lump sum payment as of a date specified by the Committee that is at least twelve
(12) months after the date of the election. 

  

	 	(ii)	Non-Grandfathered Amounts. 

 In any case where a Participant wishes to change a form of distribution from what was previously in effect with respect to any deferred amounts credited to a Participant’s Accounts in excess of a
Participant’s Grandfathered Deferred Compensation Plan Deferrals or Grandfathered Restoration Plan Benefit, in addition to the limitations under Section 3.7(b), the following requirements must be met: 

 

	 	(A)	The election will not take effect until at least twelve months after the date on which the election is made and will not be recognized with respect to payments that
would otherwise have commenced during such twelve-month period; 

  

	 	(B)	Except for payments made on account of a Participant’s death or financial hardship under Section 6.1(f), the payment with respect to which such election is
made (or the first payment, in the case of installment payments) shall be deferred for a period of not less than five years from the date such payment would otherwise have been made; 

  
 -42-

	 	(C)	Any election related to payments that would otherwise have commenced as of a specified time, as opposed to the Participant’s Separation from Service, may not be
made less than twelve months prior to the date on which such payments would otherwise have commenced; and 

  

	 	(D)	The election will not take effect if the payment (or the first payment, in the case of installment payments) would be scheduled to commence after the later of the date
the Participant reaches age 70 or the date the Participant retires from active employment under the minimum deferral period required pursuant to (B) above. 

 

	 	(iii)	Restoration Plan Benefit (Non-deferred). 

  

	 	(A)	General Rule. Where, pursuant to Section 4.4(b)(iii) and this Section 6.2, a Participant wishes to waive the Normal Form of Payment with respect his
Restoration Plan Benefit and elect an optional form of payment, the following requirements must be met: 

  

	 	(1)	The election will not take effect until at least twelve months after the date on which the election is made and will not be recognized with respect to payments that
would otherwise have commenced during such twelve-month period; 

  

	 	(2)	Except for payments made on account of a Participant’s death, the first payment with respect to which such election is made shall be delayed for a period of not
less than five years from the date such payment would otherwise have been made; and 

  

	 	(3)	Any election related to payments that would otherwise have commenced as of a specified time, as opposed to the Participant’s Separation from Service, may not be
made less than twelve months prior to the date on which such payments would otherwise have commenced. 

 In the
event of any delay in payment of a Restoration Plan Benefit in excess of a Grandfathered Restoration Plan Benefit that is determined using the cash balance formula under the Retirement Plan or that is otherwise described in
Section 4.4(b)(i)(D), the Participant’s Restoration Plan Benefit shall be initially calculated at Separation from Service and then increased through the payment date by the 

  
 -43-

 
interest credit factor otherwise provided for under the Retirement Plan. In the event of any delay in payment of a Restoration Plan Benefit in excess of a Grandfathered Restoration Plan Benefit
that is determined using the final average pay formula under the Retirement Plan, the Participant’s Restoration Plan Benefit shall be initially calculated at Separation from Service and then that amount shall be adjusted at the payment date to
take into account the Participant’s then-attained age. 
  

	 	(B)	Annuity Election. If a Participant elects to change the form of distribution with respect to a Restoration Plan Benefit to an annuity form of payment in
accordance with subparagraph (A), the Participant may select the specific annuity form of payment at any time prior to commencement of annuity payments from among the following actuarially equivalent annuity options: 

 

	 	(1)	With respect to the portion of the Participant’s Restoration Plan Benefit that is determined using the final average pay formula under the Retirement Plan or that
is otherwise described in Section 4.4(b)(i)(D): (i) a single life annuity payable for the Participant’s lifetime; (ii) a joint and survivor annuity payable for the lives of the Participant and the Participant’s Spouse under
which if the Spouse shall survive the Participant, benefit payments shall continue after the Participant’s death for the remaining lifetime of the Spouse in an amount equal to 50%, 75% or 100% (as elected by the Participant prior to benefit
commencement) of the benefits payable during the Participant’s life; or (iii) a guaranteed payments annuity option payable in either 60 or 120 monthly installments for the life of the Participant under which if the Participant dies before
receiving the designated number of payments, the remaining benefit payments shall continue to the Participant’s Beneficiary after the Participant’s death; and 

 

	 	(2)	 With respect to the portion of the Participant’s Restoration Plan Benefit that is determined using the cash balance formula under the Retirement
Plan: (i) a single life annuity payable for the Participant’s lifetime; (ii) a joint and survivor annuity payable for the lives of the Participant and the Participant’s Spouse under which if the Spouse shall survive the

  
 -44-

	 	
Participant, benefit payments shall continue after the Participant’s death for the remaining lifetime of the Spouse in an amount equal to 50% or 75% or, if the Participant is age 55 or older
on the date of benefit commencement, 100% (as elected by the Participant prior to benefit commencement) of the benefits payable during the Participant’s life; or (iii) if the Participant is age 55 or older on the date of benefit
commencement, a guaranteed payments annuity option payable in either 60 or 120 monthly installments for the life of the Participant under which if the Participant dies before receiving the designated number of payments, the remaining benefit
payments shall continue to the Participant’s Beneficiary after the Participant’s death. 

  

	 	(C)	Actuarial Factors for Determining Optional Annuity Payments. Unless provided otherwise in a Participant’s Agreement, if any, if an annuity form of payment
of a Restoration Plan Benefit is to be made to a Participant (or Beneficiary) whose Restoration Plan Benefit is determined in whole or in part using the cash balance formula under the Retirement Plan or that is otherwise described in
Section 4.4(b)(i)(D), the annuity attributable to such portion of the Restoration Plan Benefit shall be calculated by first converting the Participant’s Restoration Plan Benefit expressed as an account balance benefit into a single life
annuity at benefit commencement determined using the Applicable Interest Rate and the Applicable Mortality Table (as such terms are defined in the Retirement Plan) used under the Retirement Plan for converting a cash balance account to a single life
annuity. If the Participant elects an optional form of annuity other than the single life annuity, the single life annuity determined pursuant to the immediately preceding sentence (or the single life annuity calculated with respect to the portion
of the Participant’s Restoration Plan Benefit determined using the final average pay formula under the Retirement Plan) shall be converted to such other annuity form of payment using the actuarial factors under the Retirement Plan for
converting a single life annuity to other annuity forms of payment. 

  
 -45-

 ARTICLE VII 
 General Provisions 
  

	Section 7.1	Unsecured Promise to Pay. 

The Company shall make no provision for the funding of any amounts payable hereunder that (i) would cause the Plan to be a funded
plan for purposes of Section 404(a)(5) of the Code, or Title I of ERISA, or (ii) would cause the Plan to be other than an “unfunded and unsecured promise to pay money or other property in the future” under Treasury Regulations
§ 1.83-3(e); and, except to the extent specified in the Stock Trust following a “change of control” (as defined in the Stock Trust) of the Company, the Company shall have no obligation to make any arrangement for the accumulation of
funds to pay any amounts under this Plan. Subject to the restrictions of the preceding sentence and in Section 5.3, the Company, in its sole discretion, may establish one or more grantor trusts described in Treasury Regulations §
1.677(a)-1(d) to accumulate funds and/or shares of Common Stock to pay amounts under this Plan, provided that the assets of such trust(s) shall be required to be used to satisfy the claims of the Company’s general creditors in the event of the
Company’s bankruptcy or insolvency. 
  

	Section 7.2	Plan Unfunded. 

 In the
event that the Company (or one of its subsidiaries) shall decide to establish an advance accrual reserve on its books against the future expense of payments hereunder, such reserve shall not under any circumstances be deemed to be an asset of this
Plan but, at all times, shall remain a part of the general assets of the Company (or such subsidiary), subject to claims of the Company’s (or such subsidiary’s) creditors. A person entitled to any amount under this Plan shall be a general
unsecured creditor of the Company (or the Participant’s employer subsidiary) with respect to such amount. Furthermore, a person entitled to a payment or distribution with respect to any amounts credited to Participant Accounts shall have a
claim upon the Company (or the Participant’s employer subsidiary) only to the extent of the vested balance(s) credited to such Accounts. 
  

	Section 7.3	Designation of Beneficiary. 

 The Participant’s Beneficiary under this Plan with respect to amounts credited to the Participant’s Accounts hereunder shall be the person designated to receive benefits on account of the
Participant’s death on a form provided by the Committee. 
  

	Section 7.4	Expenses. 

 All
commissions, fees and expenses that may be incurred in operating the Plan and any related trust(s) established in accordance with the Plan (including the Stock Trust) will be paid by the Company. 

  
 -46-

	Section 7.5	Voting Common Stock. 

Each Participant who has a Deferred Stock Account shall be entitled to provide directions to the Committee to cause the Committee to
similarly direct the Trustee of the Stock Trust to vote, on any matter presented for a vote to the shareholders of the Company, that number of shares of Common Stock held by the Stock Trust equivalent to the number of shares of Common Stock credited
to the Participant’s Deferred Stock Account. The Committee shall arrange for distribution to all such Participants in a timely manner all communications directed generally to the shareholders of the Company as to which their votes are
solicited. If the Stock Trust ever holds fewer shares of Common Stock than there are shares allocated to Deferred Stock Accounts under the Plan as to which timely and proper directions have been received from the applicable Plan Participants, the
Committee will direct the Trustee to vote all shares held in the Stock Trust in the same proportion as the total shares covered by timely and proper directions that have been directed to be voted. 

 

	Section 7.6	Non-Assignability. 

Participants, their legal representatives and their Beneficiaries shall have no right to anticipate, alienate, sell, assign, transfer,
pledge or encumber their interests in the Plan, nor shall such interests be subject to attachment, garnishment, levy or execution by or on behalf of creditors of the Participants or of their Beneficiaries. 

 

	Section 7.7	Mandatory Deferral. 

Notwithstanding any other provision of this Plan, the Committee shall defer the distribution of any Plan benefits to a Participant if the
Committee anticipates that the amount of such Plan benefits, or any portion thereof, would be nondeductible for corporate income tax purposes to the Company pursuant to Section 162(m) of the Code; provided, however, that payment of such amounts
in excess of Grandfathered Deferred Compensation Plan Deferrals and Grandfathered Restoration Plan Benefit shall be paid thereafter at the earliest time permitted under Code Section 409A and the regulations and other guidance issued thereunder,
including, in the case of Specified Employees, subject to the six-month delay for such amounts on account of a Specified Employee’s Separation from Service. 
  

	Section 7.8	Employment/Participation Rights. 

  

	 	(a)	Nothing in the Plan shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment at any time, nor confer upon any
Participant any right to continue in the employ of the Company. 

  

	 	(b)	Nothing in the Plan shall be construed to be evidence of any agreement or understanding, express or implied, that the Company will continue to employ a Participant in
any particular position or at any particular rate of remuneration. 

  
 -47-

	 	(c)	No employee shall have a right to be selected as a Participant, or, having been so selected, to be continued as a Participant. 

 

	 	(d)	Nothing in this Plan shall affect the right of a recipient to participate in and receive benefits under and in accordance with any pension, profit-sharing, deferred
compensation or other benefit plan or program of the Company. 

  

	Section 7.9	Severability. 

 If any
particular provision of the Plan shall be found to be illegal or unenforceable for any reason, the illegality or lack of enforceability of such provision shall not affect the remaining provisions of the Plan, and the Plan shall be construed and
enforced as if the illegal or unenforceable provision had not been included. 
  

	Section 7.10	No Individual Liability. 

It is declared to be the express purpose and intention of the Plan that no liability whatsoever shall attach to or be incurred by the
shareholders, officers, or directors of the Company (or any affiliate) or any representative appointed hereunder by the Company (or any affiliate), under or by reason of any of the terms or conditions of the Plan. 

 

	Section 7.11	Tax and Other Withholding. 

The Company shall have the right to deduct from any payment made under the Plan any amount required by federal, state, local, or foreign
law to be withheld with respect to such payment. The Company shall also have the right to withhold from other current salary or wages any amount required by federal, state, local, or foreign law to be withheld with respect to compensation deferred
under the Plan at any time prior to payment of such deferred compensation, or if such other current salary or wages are insufficient to satisfy such withholding requirement, to require the Participant to pay the Company such amount required to be
withheld to the extent such requirement cannot be satisfied through withholding on other current salary or wages. Additionally, should deferrals under this Plan cause there to be insufficient current salary or wages for purposes of withholding taxes
or other amounts required by federal, state, local, or foreign law to be withheld from current salary or wages, the Company shall require the Participant to pay the Company such amount required to be withheld to the extent such requirement cannot be
satisfied through withholding on other current salary or wages. Amounts deferred under the Plan will be taken into account for purposes of any withholding obligation under the Federal Insurance Contributions Act and Federal Unemployment Tax Act at
the later of the Plan Year during which the services are performed or the Plan Year during which the rights to the amounts are no longer subject to a substantial risk of forfeiture, as required by Section 3121(v) and 3306(r) of the Code and the
regulations promulgated thereunder. 

  
 -48-

	Section 7.12	Applicable Law. 

 This
Plan shall be governed by and construed in accordance with the laws of the State of New Jersey except to the extent governed by applicable federal law. 
  

	Section 7.13	Incompetency. 

 Any person
receiving or claiming benefits under the Plan shall be conclusively presumed to be mentally competent and of age until the Committee receives written notice, in a form and manner acceptable to it, that such person is incompetent or a minor, and that
a guardian, conservator, or other person legally vested with the care of his estate has been appointed. If the Committee finds that any person to whom a benefit is payable under the Plan is unable to properly care for his or her affairs, or is a
minor, then any payment due (unless a prior claim therefor shall have been made by a duly appointed legal representative) may be paid to the Spouse, a child, a parent, or a brother or sister, or to any person deemed by the Committee to have incurred
expense for the care of such person otherwise entitled to payment. If a guardian or conservator of the estate of any person receiving or claiming benefits under the Plan shall be appointed by a court of competent jurisdiction, payments shall be made
to such guardian or conservator provided that proper proof of appointment is furnished in a form and manner suitable to the Committee. Any payment made under the provisions of this Section shall be a complete discharge of liability therefor under
the Plan. 
  

	Section 7.14	Notice of Address. 

 Any
payment made to a Participant or a designated Beneficiary at the last known post office address of the distributee on file with the Committee, shall constitute a complete acquittance and discharge of any obligations of the Company under this Plan,
unless the Committee shall have received prior written notice of any change in the condition or status of the distributee. Neither the Committee, the Company nor any director, officer, or employee of the Company shall have any duty or obligation to
search for or ascertain the whereabouts of a Participant or a designated Beneficiary. 

  
 -49-

 ARTICLE VIII 
 Administration 
  

	Section 8.1	Committee. 

 Prior to a
Change in Control, the Plan shall be administered by the Committee. The Committee shall have the exclusive right to interpret the Plan (including questions of construction and interpretation) and the decisions, actions and records of the Committee
shall be conclusive and binding upon the Company and all persons having or claiming to have any right or interest in or under the Plan. The Committee may delegate to such officers, employees or departments of the Company, or to service-providers or
other persons, such authority, duties, and responsibilities of the Committee as it, in its sole discretion, considers necessary or appropriate for the proper and efficient operation of the Plan, including, without limitation, (i) interpretation
of the Plan, (ii) approval and payment of claims, and (iii) establishment of procedures for administration of the Plan. Notwithstanding the foregoing, after a Change in Control, the trustee of any grantor trust established for the purpose
of accumulating funds to satisfy the obligations incurred by the Company under this Plan shall administer the Plan and shall have the same privileges and rights as given to the Committee prior to a Change in Control. 

 

	Section 8.2	Claims Procedure. 

 Any
person dissatisfied with the Committee’s determination of a claim for benefits (or claim for eligibility for participation) hereunder must file a written request for reconsideration with the Committee. This request must include a written
explanation setting forth the specific reasons for such reconsideration. The Committee shall review its determination promptly and render a written decision with respect to the claim, setting forth the specific reasons for such denial written in a
manner calculated to be understood by the claimant. Such claimant shall be given a reasonable time within which to comment, in writing, to the Committee with respect to such explanation. The Committee shall review its determination promptly and
render a written decision with respect to the claim. Such decision of the Committee shall be conclusive, binding, and final upon all claimants under this Plan. 
  

	Section 8.3	Plan to Comply With Code Section 409A. 

 Notwithstanding any provision to the contrary in this Plan, each provision in this Plan shall be interpreted to permit the deferral of compensation in accordance with Code Section 409A and any
provision that would conflict with such requirements shall not be valid or enforceable. 

  
 -50-

 ARTICLE IX 
 Amendment, Termination and Effective Date 
  

	Section 9.1	Amendment of the Plan. 

Subject to Section 9.3, the Plan may be wholly or partially amended or otherwise modified at any time by written action of the Board
of Directors. Notwithstanding the foregoing, the Board of Directors hereby grants to the Committee the authority to approve and adopt amendments to the Plan, provided that such amendments will not materially increase the Company’s costs related
to providing benefits under the Plan or materially affect the benefits of participants in the Plan. 
  

	Section 9.2	Termination of the Plan. 

Subject to the provisions of Section 9.3, the Plan may be terminated at any time by written action of the Board of Directors.

  

	Section 9.3	No Impairment of Benefits. 

Notwithstanding the provisions of Sections 9.1 and 9.2, no amendment to or termination of the Plan shall reduce the amount credited to any
Participant’s Accounts hereunder. 
  

	Section 9.4	Effective Date. 

 The
Plan, as previously amended and restated, was effective as of March 22, 2004. The Plan as set forth herein is amended and restated effective as of January 1, 2013. 

  
 -51-

 ATTACHMENT A 
 Procedures of the Retirement Benefit Restoration Plan 

Committee re: Payment of Grandfathered Restoration Plan Benefits 

The following are distribution procedures and requirements established by the Compensation and Benefits Committee of the Board of
Directors of the Company (the “Board Committee”) with respect to the determination of the appropriate timing and form of benefit payments of Grandfathered Restoration Plan Benefits in accordance the terms of the Restoration Plan (as in
effect on October 3, 2004). 
 Notwithstanding anything to the contrary, any Participant who is not an Employee on or after
October 1, 2000 shall be entitled to Grandfathered Restoration Plan Benefits solely in the form of a single lump sum cash payment made as soon as practicable following the date on which the Participant first becomes eligible to receive or
commence receiving benefits under the Retirement Plan, regardless of the time benefits are actually paid or commence to be paid under the Retirement Plan and regardless of the form of benefit payments to be made under the Retirement Plan.

 With respect to Restoration Plan Participants who are Employees on or after October 1, 2000, the following provisions
shall apply with respect to Grandfathered Restoration Plan Benefits: 
 I. General Rule for Timing and Form of Payment:
Except as provided below, all Grandfathered Restoration Plan Benefits shall be paid in the form of a single lump sum cash payment made as soon as practicable following the date on which the Participant first becomes eligible to receive or commence
receiving benefits under the Retirement Plan, regardless of the time benefits are actually paid or commence to be paid under the Retirement Plan and regardless of the form of benefit payments to be made under the Retirement Plan. 

II. Timing of Payment – Disability Retirements: Notwithstanding Paragraph I above and except as provided below, Grandfathered
Restoration Plan Benefits on account of a Participant’s Disability Retirement shall be paid in the form of a single lump sum cash payment as soon as practicable following the later of (i) the date the Participant ceases accruing additional
benefits on account of his disability leave under the Retirement Plan, or (ii) the date on which the Participant first becomes eligible to receive or commence receiving benefits under the Retirement Plan, regardless of the time benefits are
actually paid or commence to be paid under the Retirement Plan and regardless of the form of benefit payments to be made under the Retirement Plan. 
 III. Optional Forms of Payment: In lieu of the normal form of payment under Paragraph I or Paragraph II above, a Participant may elect (on such forms and in such manner prescribed by the Becton,
Dickinson and Company Retirement Benefit Restoration Plan Committee (the “Restoration Plan Committee”), including through telephonic or electronic means) to have Grandfathered Restoration Plan Benefits paid in any form of payment otherwise
permitted under the Retirement Plan as the Participant may elect. A Participant’s election to 

  
 -52-

 
receive Grandfathered Restoration Plan Benefits in a form other than a lump sum shall not be effective (regardless of whether the Restoration Plan Committee otherwise approves the
Participant’s request) unless the request is made and received by the Restoration Plan Committee at least 6 months prior to the date Grandfathered Restoration Plan Benefits would otherwise be paid or commence to be paid under the Restoration
Plan; provided, however, that such 6-month restriction shall be waived if the Participant terminates employment on account of a Disability Retirement as determined by the Retirement Plan administrator under the terms of the Retirement Plan in effect
on October 3, 2004. (Eligibility for a Disability Retirement under the Retirement Plan requires a finding that the Participant has not attained age 65, has at least 10 years of vesting service, and becomes entitled to disability benefits under
the Federal Social Security Act. The Participant should provide the Restoration Plan Committee with a copy of the written governmental notification of his eligibility for disability benefits under the Social Security Act.) 

In the absence of an effective election made at least 6 months before the date Grandfathered Restoration Plan Benefits would otherwise
have been paid under the Restoration Plan, the Restoration Plan Committee shall pay the Participant’s Grandfathered Restoration Plan Benefit in accordance with the last effective election on file with the Restoration Plan Committee or, in the
absence of such a valid election, in accordance with Paragraph I or Paragraph II. (By way of illustration, assume that, within 4 months of his termination, a 60-year old Participant had elected to have his Grandfathered Restoration Plan Benefit paid
as a life annuity. In that case, the Participant’s election will not be effective because the Restoration Plan would otherwise require a lump sum payment as soon as practicable after such termination and the 6-month requirement would not have
been met. In the absence of a valid election, the Participant’s Grandfathered Restoration Plan Benefit would be paid in a single lump sum as soon as practicable after termination of employment.) 

IV. Optional Acceleration of Payment Due to Disability: If a Participant terminates employment on account of a Disability
Retirement (determined under the Retirement Plan as described in Paragraph III above) and such Participant has elected a form of payment other than an immediate lump sum distribution, such Participant may request in writing to receive an accelerated
lump sum distribution of his Grandfathered Restoration Plan Benefits as a result of his disability. In such case, the Restoration Plan Committee may, in its sole and absolute discretion, determine to grant or deny such request for payment. Because
each request is unique, each Participant’s request will be decided on a case-by-case basis. Therefore, there shall be no uniform standards for the Restoration Plan Committee to apply in determining whether to grant a request. 

If the Restoration Plan Committee, in its discretion, grants a Participant’s request, it shall notify the Participant in writing and
it shall direct that payment of the Participant’s entire Grandfathered Restoration Plan Benefit be made to the Participant in a single lump sum as soon as practicable thereafter. If the Restoration Plan Committee, in its discretion, denies such
request, it shall notify the Participant in writing as soon as practicable thereafter. 
 The Restoration Plan Committee’s
decision concerning a Participant’s entitlement to an accelerated payment due to a Disability Retirement shall be final and binding. 

  
 -53-

 V. Calculation of Benefits: The amount of a Participant’s lump sum payment shall
be determined as provided under the terms of the Restoration Plan in effect on October 3, 2004. If a Participant’s Grandfathered Restoration Plan Benefit is to be paid in accordance with any of the Retirement Plan’s optional forms of
payment, the amount of the Participant’s Grandfathered Restoration Plan Benefit shall be determined by the Restoration Plan Committee (or its delegate) based on the Participant’s age and the actuarial factors otherwise provided for in the
Retirement Plan with respect to the optional form of payment elected. 

  
 -54-EX-10.7

 Exhibit 10.7 
 FORM OF EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this
“Agreement”) is made by and between FRANK’S INTERNATIONAL, INC., a Texas corporation, and any successor thereto (the “Employer”), and DONALD KEITH MOSING
(“Executive”), effective as of the date of the closing of the initial public offering of the securities of Frank’s International N.V. (“FINV”), which is
            , 2013 (the “Effective Date”). 

W I T N E S S E T H: 
 A. The Employer currently employs Executive as the Chief Executive Officer and President of FINV, and Executive serves as Chairman of the Board of FINV; and 

B. The Employer desires to continue to employ Executive on the terms and conditions, and for the consideration, hereinafter set
forth, and Executive desires to continue to be employed by the Employer, and to commit himself to serve the Employer and FINV, on such terms and conditions and for such consideration. 

NOW, THEREFORE, for and in consideration of the mutual promises, covenants, and obligations contained herein, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Employer and Executive agree as follows: 
 ARTICLE I 
 DEFINITIONS  

In addition to the terms defined in the body of this Agreement, for purposes of this Agreement, the following capitalized words shall
have the meanings indicated below: 
 1.1 “Average Annual Bonus” shall mean the average Annual
Bonus (as such term is defined in Section 4.2) paid (or payable) for the three calendar years (or if Executive was employed for less than three full calendar years, such lesser number of full calendar years for which Executive was employed)
preceding the Date of Termination. 
 1.2 “Board” shall mean the Board of Directors of FINV.

 1.3 “Cause” shall mean a determination by the Board that Executive (a) has engaged in
gross negligence, gross incompetence, or misconduct in the performance of Executive’s duties with respect to the Employer or any of its affiliates, (b) has failed without proper legal reason to perform Executive’s duties and
responsibilities to the Employer or any of its affiliates, (c) has breached any material provision of this Agreement or any written agreement or corporate policy or code of conduct established by the Employer or any of its affiliates,
(d) has engaged in conduct that is, or could reasonably expected to be, materially injurious to the Employer or any of its affiliates, (e) has committed an act of theft, fraud, embezzlement, misappropriation, or breach of a fiduciary duty
to the Employer or any of its affiliates, or (f) has been convicted of, pleaded no contest to, or received adjudicated probation or deferred adjudication in connection with a crime involving fraud, dishonesty, or moral turpitude or any felony
(or a crime of similar import in a foreign jurisdiction); provided, however, that prior to a termination for Cause under Section 1.3(a), 1.3(b), 1.3(c), or 1.3(d), the Employer shall provide written notice to Executive of

 
any such act(s) or omission(s) upon which it intends to rely as a basis for a for-Cause termination within 30 days after such act(s) or omission(s) are initially known to the Employer, and the
Employer will offer Executive no less than 30 days to cure such breach if such breach is capable of cure. 
 1.4
“Change in Control” shall mean: 
 (a) a merger of the Employer or FINV
(collectively, or either entity alone, the “Company”) with another entity, a consolidation involving the Company, or the sale of all or substantially all of the assets of the Company to another entity if, in any such case,
(i) the holders of equity securities of the Company immediately prior to such transaction or event do not beneficially own immediately after such transaction or event equity securities of the resulting entity entitled to 50% or more of the
votes then eligible to be cast in the election of directors generally (or comparable governing body) of the resulting entity in substantially the same proportions that they owned the equity securities of the Company immediately prior to such
transaction or event or (ii) the persons who were members of the Board immediately prior to such transaction or event shall not constitute at least a majority of the board of directors of the resulting entity immediately after such transaction
or event; 
 (b) the dissolution or liquidation of the Company; 

(c) when any person or entity (including a “group” as contemplated by section 13(d)(3) of the Securities
Exchange Act of 1934, as amended), other than a Permitted Holder or Permitted Holders, acquires or gains ownership or control (including, without limitation, power to vote) of more than 50% of the combined voting power of the outstanding securities
of the Company; or 
 (d) as a result of or in connection with a contested election of directors, the persons who
were members of the Board immediately before such election shall cease to constitute a majority of the Board. 
 For purposes of the preceding
sentence, (i) “resulting entity” in the context of a transaction or event that is a merger, consolidation, or sale of all or substantially all assets shall mean the surviving entity (or acquiring entity in the case of an asset sale)
unless the surviving entity (or acquiring entity in the case of an asset sale) is a subsidiary of another entity and the holders of common stock of the Company receive capital stock of such other entity in such transaction or event, in which event
the resulting entity shall be such other entity, and (ii) subsequent to the consummation of a merger or consolidation that does not constitute a Change in Control, the term “Company” shall refer to the resulting entity, and the term
“Board” shall refer to the board of directors (or comparable governing body) of the resulting entity. 
 1.5
“Code” shall mean the Internal Revenue Code of 1986, as amended. 
 1.6 “Date of
Termination” shall mean the date Executive’s employment with the Employer is considered to have terminated pursuant to Section 3.5. 
 1.7 “Good Reason” shall mean the occurrence of any of the following events: 

  
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 (a) a material diminution in Executive’s Base Salary (as such term is
defined in Section 4.1), other than as a part of one or more decreases that (i) shall not exceed, in the aggregate, more than 10% of Executive’s Base Salary as in effect on the date immediately prior to such decrease, and
(ii) are applied similarly to all of the Employer’s similarly situated executives; 
 (b) a material
diminution in Executive’s authority, duties, or responsibilities, including a material diminution due to the Employer’s engagement of an outside management firm to provide management services for the Employer, or removal of Executive from
service as Chairman of the Board (except if such removal occurs due to (i) Executive’s resignation from the Board or (ii) removal by the Board for Cause); 

(c) a requirement that Executive report to any corporate officer or other employee instead of reporting directly to the
Board; 
 (d) the involuntary relocation of the geographic location of Executive’s principal place of
employment by more than 75 miles from the location of Executive’s principal place of employment as of the Effective Date; or 
 (e) any material breach by the Employer or its affiliate of its obligations under this Agreement. 

Notwithstanding the foregoing provisions of this Section 1.7 or any other provision in this Agreement to the contrary, any assertion by Executive of
a termination of employment for “Good Reason” shall not be effective unless all of the following conditions are satisfied: (i) the condition described in the foregoing clauses of this Section 1.7 giving rise to
Executive’s termination of employment must have arisen without Executive’s consent; (ii) Executive must provide written notice to the Employer of such condition in accordance with Section 10.1 within 45 days of the initial
existence of the condition; (iii) the condition specified in such notice must remain uncorrected for 30 days after receipt of such notice by the Employer; and (iv) the date of Executive’s termination of employment must occur within 90
days after the initial existence of the condition specified in such notice. 
 1.8 “Notice of
Termination” shall mean a written notice delivered to the other party indicating the specific termination provision in this Agreement relied upon for termination of Executive’s employment and the intended Date of Termination and
shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. 
 1.9 “Permitted Holder” shall mean (a) Executive, any other members of the Mosing family that are the owners of Mosing Holdings, Inc. as of the Effective Date, any
existing spouse of any of the foregoing individuals and/or their descendants by blood or adoption; (b) spouses or surviving spouses of the individuals listed in clause (a) of this Section 1.9; (c) trusts for the benefit of one or
more members of the individuals listed in clause (a) of this Section 1.9; (d) entities controlled by one or more of the individuals listed in clause (a) of this Section 1.9; and (e) foundations established by one or
more of the individuals listed in clause (a) of this Section 1.9. 

  
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 1.10 “Release Expiration Date” means the date that is 21 days
following the date upon which the Company timely delivers to Executive the Release (which shall occur no later than seven days after the Date of Termination) or, in the event that such termination of employment is “in connection with an exit
incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967, as amended), the date that is 45 days following such delivery date. 

1.11 “Section 409A Payment Date” shall mean the earlier of (a) the date of Executive’s death or
(b) the date that is six months after the Date of Termination of Executive’s employment with the Employer. 

ARTICLE II 

EMPLOYMENT AND DUTIES 
 2.1 Employment; Effective Date. The Employer agrees to continue to employ Executive, and Executive agrees to continue to be employed by the Employer, pursuant to the terms of this Agreement,
beginning as of the Effective Date and continuing for the period of time set forth in Article III of this Agreement, subject to the terms and conditions of this Agreement. 
 2.2 Positions. From and after the Effective Date, the Employer shall employ Executive in the position of Chief Executive Officer and President of FINV and in such other position or positions
as the Employer or Board may designate or appoint from time to time. Executive shall report to the Board or any designated committee thereof. FINV shall use its best efforts to cause Executive to continue to be elected as Chairman of the Board, such
membership and service as Chairman of the Board to continue for so long as Executive holds the offices of Chief Executive Officer and President of FINV. 
 2.3 Duties and Services. Executive agrees to serve in the position(s) referred to in Section 2.2 and to perform diligently and to the best of Executive’s abilities the duties and
services appertaining to such position(s), as well as such additional duties and services appropriate to such position(s) which the parties mutually may agree upon from time to time. Executive’s employment shall also be subject to the policies
maintained and established by the Employer that are of general applicability to the Employer’s executives, as such policies may be amended from time to time. 
 2.4 Other Interests. Executive agrees, during the period of Executive’s employment by the Employer, to devote Executive’s full business time and best efforts to the business and
affairs of the Employer, FINV, and any subsidiary or affiliate of either entity. Notwithstanding the foregoing, the parties acknowledge and agree that Executive may (a) engage in and manage Executive’s passive personal investments and
(b) engage in charitable and civic activities; provided, however, that such activities shall be permitted so long as such activities do not conflict with the business and affairs of the Employer or interfere with Executive’s performance of
Executive’s duties hereunder. 
 2.5 Duty of Loyalty. Executive acknowledges and agrees that Executive owes a
fiduciary duty of loyalty, fidelity, and allegiance to act in the best interests of the Employer and to do no act that would materially injure the business, interests, or reputation of the Employer or

  
 4 

 
any of its affiliates. In keeping with these duties, Executive shall make full disclosure to the Employer of all business opportunities pertaining to the Employer’s business and shall not
appropriate for Executive’s own benefit business opportunities concerning the subject matter of the fiduciary relationship. 

ARTICLE III 

TERM AND TERMINATION OF EMPLOYMENT  
 3.1 Term. Unless sooner terminated pursuant to other provisions hereof, the Employer agrees to employ Executive hereunder for the period beginning on the Effective Date and ending on
[            , 2016] (the “Initial Expiration Date”); provided, however, that beginning on the Initial Expiration Date, and on each anniversary of the Initial
Expiration Date thereafter, if Executive’s employment under this Agreement has not been terminated pursuant to Section 3.2 or 3.3, then said term of employment shall automatically be extended for an additional one-year period unless on or
before the date that is 60 days prior to the first day of any such extension period, either party shall give written notice to the other that no such automatic extension shall occur, in which case the term of employment shall terminate on the
Initial Expiration Date or the anniversary of the Initial Expiration Date immediately following the giving of such notice, as applicable. 
 3.2 Employer’s Right to Terminate. Notwithstanding the provisions of Section 3.1, the Employer may terminate Executive’s employment under this Agreement at any time for any of
the following reasons by providing Executive with a Notice of Termination: 
 (a) upon Executive being unable to perform
Executive’s duties or fulfill Executive’s obligations under this Agreement by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of
not less than three months as determined by the Employer and certified in writing by a competent medical physician selected by the Employer (“Disability”); or 

(b) Executive’s death; or 
 (c) for Cause; or 
 (d) for any other reason whatsoever or for no reason at all, in
the sole discretion of the Employer. 
 3.3 Executive’s Right to Terminate. Notwithstanding the provisions of
Section 3.1, Executive shall have the right to terminate Executive’s employment under this Agreement for Good Reason or for any other reason whatsoever or for no reason at all, in the sole discretion of Executive, by providing the Employer
with a Notice of Termination. In the case of a termination of employment by Executive pursuant to this Section 3.3, the Date of Termination specified in the Notice of Termination shall not be less than 15 nor more than 60 days, respectively,
from the date such Notice of Termination is given, and the Employer may require a Date of Termination earlier than that specified in the Notice of Termination (and, if such earlier Date of Termination is so required, it shall not change the basis
for Executive’s termination nor be construed or interpreted as a termination of employment pursuant to Section 3.1 or Section 3.2). 

  
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 3.4 Deemed Resignations. Unless otherwise agreed to in writing by the Employer
and Executive prior to the termination of Executive’s employment, any termination of Executive’s employment shall constitute (a) an automatic resignation of Executive as an officer of the Employer and each affiliate of the Employer,
(b) an automatic resignation of Executive from the Board (if applicable) and from the board of directors of any affiliate of the Employer, and from the board of directors or similar governing body of any corporation, limited liability entity,
or other entity in which the Employer or any affiliate holds an equity interest and with respect to which board or similar governing body Executive serves as the Employer’s or such affiliate’s designee or other representative, and
(c) an automatic revocation of any power of attorney granted to Executive for the benefit of Employer, FINV, or any of their respective affiliates. 
 3.5 Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Employer when Executive incurs a
“separation from service” with the Employer within the meaning of section 409A(a)(2)(A)(i) of the Code and applicable administrative guidance issued thereunder. 
 ARTICLE IV 
 COMPENSATION AND BENEFITS  

4.1 Base Salary. During the term of this Agreement, Executive shall receive a minimum, annualized base salary of
$            (the “Base Salary”). Executive’s annualized base salary shall be reviewed periodically by the Board (or a committee thereof) and, in the sole
discretion of the Board (or a committee thereof), such annualized base salary may be increased (but not decreased) effective as of any date determined by the Board (or a committee thereof); provided, however, that the Board or the Employer may
decrease Executive’s Base Salary at any time and from time to time so long as such decreases do not exceed 10% of Executive’s then Base Salary as in effect immediately prior to such decrease, and such decreases are part of similar
reductions applicable to all of the Employer’s similarly situated executives. Executive’s Base Salary shall be paid in equal installments in accordance with the Employer’s standard policy regarding payment of compensation to
executives but no less frequently than monthly. 
 4.2 Bonuses. Executive shall be eligible to participate in the
Employer’s annual cash incentive program, which shall provide Executive with an opportunity to receive an annual, calendar-year bonus (payable in a single lump sum) based on criteria determined in the discretion of the Board or a committee
thereof (the “Annual Bonus”), it being understood that the actual amount of each Annual Bonus shall be determined in the discretion of the Board or a committee thereof. The Employer shall pay each Annual Bonus with respect to
a calendar year on or before March 15 of the following calendar year. 
 4.3 Long-Term Incentive
Compensation. During Executive’s employment hereunder, Executive may, as determined by the Board (or a designated committee thereof) in its sole discretion, periodically receive grants of stock options or other equity or non-equity
related awards pursuant to the Employer’s or its affiliate’s long-term incentive plan(s), subject to the terms and conditions thereof. Any grants previously awarded to Executive pursuant to the Employer’s long-term incentive plan(s)
that are outstanding on the Effective Date hereof shall continue to be governed by the terms and conditions of such plan(s). 

  
 6 

 4.4 Other Benefits. During Executive’s employment hereunder, Executive
shall be allowed to participate in all benefit plans and programs of the Employer, including improvements or modifications of the same, which are now, or may hereafter be, available to other senior executives of the Employer. The Employer shall not,
however, by reason of this Section 4.4, be obligated to institute, maintain, or refrain from changing, amending, or discontinuing any such benefit plan or program, so long as such changes are similarly applicable to other senior executives
generally. To the extent permitted by applicable law and the terms of the benefit plans without causing the Employer to be required to extend similar treatment to any other employees or service providers, Employer shall include in Executive’s
credited service, in any case where credited service is relevant in determining eligibility for or benefits under any employee benefits plan, the Executive’s service for any parent, subsidiary or affiliate of Employer or for any predecessor
thereof, and time served at prior employers. Executive shall be entitled to indemnification by the Employer in respect of any actions or omissions as an employee, officer or director of the Employer or any of the Employer’s affiliates (or any
successor thereto) to the fullest extent permitted by law. Employer shall obtain directors and officers (D&O) insurance in a reasonable amount determined by the Board and shall maintain such insurance during the term of Executive’s
employment hereunder. 
 4.5 Expenses. 

(a) Business Expenses. Employer shall reimburse Executive for all reasonable business expenses incurred by
Executive in performing services hereunder, including all reasonable expenses of travel and living expenses while away from home on business or at the request of and in the service of the Employer. 

(b) Dues. The Employer shall reimburse Executive for (or pay on Executive’s behalf) dues incurred
during Executive’s employment hereunder with respect to Executive’s membership at the River Oaks Country Club. 
 (c) Payment. The expenses described in this Section 4.5 shall only be subject to reimbursement if they are incurred and accounted for in accordance with the policies and procedures
established by the Employer. Any such reimbursement of expenses shall be made by the Employer upon or as soon as practicable following receipt of supporting documentation reasonably satisfactory to the Employer (but in any event not later than the
close of Executive’s taxable year following the taxable year in which the expense is incurred by Executive); provided, however, that, upon Executive’s termination of employment with the Employer, in no event shall any additional
reimbursement be made prior to the Section 409A Payment Date to the extent such payment delay is required under section 409A(a)(2)(B)(i) of the Code. In no event shall any reimbursement be made to Executive for such expenses after the later of
(i) the first anniversary of the date of Executive’s death or (ii) the date that is five years after the date of Executive’s termination of employment with the Employer (other than by reason of Executive’s death). For the
sake of clarity, all qualifying expense reimbursements described in this Section 4.5 shall be made by the Employer within the time periods prescribed above, and no reimbursement timing limitation included in this Section 4.5 shall operate
to excuse the Employer from making any reimbursement due under this Section 4.5. 

  
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 4.6 Life Insurance. During Executive’s employment hereunder, the Employer
shall maintain one or more policies of life insurance on the life of Executive providing an aggregate death benefit in an amount not less than $1,000,000, but this obligation shall not apply if Executive is not insurable at standard rates as of the
Effective Date, as determined by the Employer in good faith. Executive shall have the right to designate the beneficiary or beneficiaries of the death benefit payable pursuant to such policy or policies. The provisions of this Section 4.6 can
be satisfied in whole or in part by any group life insurance policy provided by the Employer in accordance with Section 4.4 hereof. Executive shall (a) furnish any and all information reasonably requested by the Employer or the insurer to
facilitate the issuance of the life insurance policy or policies described in this Section 4.6 or any adjustment to any such policy, and (b) take such physical examinations as the Employer or the insurer deems necessary. If Executive
refuses to cooperate or makes any material misstatement of information or nondisclosure of medical history, then the Employer shall have no further obligation to provide the benefit described in this Section 4.6. If Executive terminates
employment prior to the expiration of the term of such policy, the policy shall lapse unless Executive continues to maintain the policy at his own expense. 
 4.7 Vacation and Sick Leave. During Executive’s employment hereunder, Executive shall be entitled to (a) sick leave in accordance with the Employer’s policies applicable to
its senior executives as may exist from time to time and (b) up to fifteen (15) days paid vacation each calendar year or the maximum number of days Executive is entitled to under the terms of the Employer’s vacation policy,
whichever is greater, and which such vacation shall accrue and be taken in accordance with the Employer’s vacation policies in effect from time to time. Executive’s right to carry over unused vacation from one calendar year to the next
shall be determined by the Employer’s vacation policy. 
 4.8 Aircraft. During Executive’s
employment hereunder, the Employer will provide Executive with use of aircraft owned or leased by the Employer or one of its affiliates or an alternative aircraft (“Company Aircraft”), for up to 120 flight hours annually;
provided, however, that Executive’s personal use of the Employer-owned aircraft shall be approved pursuant to any then-existing aircraft approval policy maintained by the Employer or its affiliates and shall not interfere with the
Employer’s or its affiliates’ use of the Company Aircraft. Such annual usage is non-cumulative, and unused hours may not be carried forward to a subsequent year. As part of such personal use, Executive may designate such number of
additional passengers on the Company Aircraft as seating permits. Executive will be responsible for all income tax costs associated with the imputation of income for personal usage of the Company Aircraft. These costs will be calculated in
accordance with IRS regulations regarding the personal usage of a company’s aircraft. 
 4.9 Offices. Subject
to Articles II, III, and IV hereof, Executive agrees to serve without additional compensation, if elected or appointed thereto, as a director of the Employer or any of the Employer’s affiliates and as a member of any committees of the
board of directors of any such entities, in one or more executive positions of any of the Employer’s affiliates, and pursuant to a power of attorney for the benefit of Employer, FINV, or any of their respective affiliates. 

ARTICLE V 

EFFECT OF TERMINATION OF EMPLOYMENT ON COMPENSATION  

5.1 For Cause, Death, Disability, or Without Good Reason. If Executive’s employment hereunder shall terminate prior to
the expiration of the term provided in Section 3.1 for any reason described in Section 3.2(a), 3.2(b), or 3.2(c) or pursuant to Executive’s resignation for other than Good Reason, then all compensation and all benefits to Executive
hereunder shall terminate contemporaneously with such termination of employment, except that Executive shall be entitled to (a) payment of all accrued and unpaid Base Salary to the Date of

  
 8 

 
Termination, (b) reimbursement for all incurred but unreimbursed expenses for which Executive is entitled to reimbursement in accordance with Section 4.5, and (c) benefits to which
Executive is entitled under the terms of any applicable benefit plan or program of the Employer or its affiliate (such amounts set forth in (a), (b), and (c) shall be collectively referred to herein as the “Accrued
Rights”). 
 5.2 Without Cause or for Good Reason. If Executive’s employment hereunder shall
terminate (whether prior to, commensurate with, or following a Change in Control, or otherwise) pursuant to Executive’s resignation for Good Reason or by action of the Employer pursuant to Section 3.1 or 3.2 for any reason other than those
encompassed by Section 3.2(a), 3.2(b), or 3.2(c), then all compensation and all benefits to Executive hereunder shall terminate contemporaneously with such termination of employment, except that (i) Executive shall be entitled to receive
the Accrued Rights, and (ii) if, on the Date of Termination, the Employer does not have a right to terminate Executive’s employment under Section 3.2(a), 3.2(b), or 3.2(c) and subject to Executive’s delivery, by the Release
Expiration Date, and non-revocation of an executed release acceptable to the Employer, which shall be substantially in the form of the release contained at Appendix A (the “Release”), Executive shall receive the following
additional compensation and benefits from the Employer (but no other additional compensation or benefits after such termination): 
 (a) Unpaid Prior Year Annual Bonus: The Employer shall pay to Executive any earned but unpaid Annual Bonus for the calendar year ending prior to the Date of Termination, which amount shall be
payable in a lump-sum on or before the date such annual bonuses are paid to executives who have continued employment with the Employer (but in no event earlier than 60 days following the Date of Termination); 

(b) Prorated Current Year Annual Bonus: The Employer shall pay to Executive a bonus for the calendar year in which
the Date of Termination occurs in an amount equal to the Annual Bonus for such year as determined in good faith by the Board in accordance with the criteria established pursuant to Section 4.2 and based on the Employer’s performance for
such year, which amount shall be prorated through and including the Date of Termination (based on the ratio of the number of days Executive was employed by the Employer during such year to the number of days in such year), payable in a lump-sum on
or before the date such annual bonuses are paid to executives who have continued employment with the Employer (but in no event earlier than 60 days after the Date of Termination nor later than the March 15 next following such calendar year);
provided, however, that if this paragraph applies with respect to an Annual Bonus that is intended to constitute performance-based compensation within the meaning of, and for purposes of, section 162(m) of the Code, then this paragraph shall apply
with respect to such Annual Bonus only to the extent the applicable performance criteria have been satisfied as certified by a committee of the Board as required under section 162(m) of the Code; 

(c) Severance Payment: The Employer shall pay to Executive an amount equal to three (3) times the sum of
Executive’s Base Salary as of the Date of Termination and the Average Annual Bonus, which amount shall be paid in a lump sum payment on the date that is 60 days after the Date of Termination; and 

  
 9 

 (d) Post-Employment Health Coverage: During the portion, if any, of
the 18-month period following the Date of Termination that Executive elects to continue coverage for Executive and Executive’s spouse and eligible dependents, if any, under the Employer’s group health plans under the Consolidated Omnibus
Budget Reconciliation Act of 1985, as amended (COBRA), and/or sections 601 through 608 of the Employee Retirement Income Security Act of 1974, as amended, the Employer shall promptly reimburse Executive on a monthly basis for the difference between
the amount Executive pays to effect and continue such coverage and the employee contribution amount that active senior executive employees of the Employer pay for the same or similar coverage under such group health plans. 

  
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 Notwithstanding the time of payment provisions of Section 5.2 above, if Executive’s Date of
Termination occurs on or before December 31, 2013, then (x) payment of the amount described in Section 5.2(c), to the extent it does not exceed the amount of the cash payments that would have been payable to Executive under
Section 8(c)(i) or 8(d), as applicable, of that certain Employment Agreement between Executive and the Employer dated January 1, 2005, including subsequent amendments thereto (the “Prior Employment
Agreement”), shall be paid in accordance with the schedule provided under Section 8(c)(i) or Section 8(d), as applicable, of the Prior Employment Agreement, and (y) payment of the amount described in
Section 5.2(c) hereof, to the extent it exceeds the amount of the cash payments that would have been made under Section 8(c)(i) or Section 8(d), as applicable, of the Prior Employment Agreement shall be made as provided in
Section 5.2(c) hereof. Further notwithstanding any of the time of payment provisions this Section 5.2, if Executive is a specified employee (as such term is defined in section 409A of the Code and as determined by the Employer in
accordance with any method permitted under section 409A of the Code) and the payment of any amount or the provision of any benefit described in such Section 5.2 would be subject to additional taxes and interest under section 409A of the Code
because the timing of such payment or benefit is not delayed as provided in section 409A(a)(2)(B)(i) of the Code and the regulations thereunder, then such amount or benefit shall be accumulated and provided within five business days after the
Section 409A Payment Date.  
 5.3 No Duty to Mitigate. Executive shall not be under any
duty or obligation to seek or accept other employment following termination of his employment with the Employer. 
 ARTICLE VI

 PROTECTION OF INFORMATION  
 6.1 Disclosure to and Property of the Employer. For purposes of this Article VI, the term “the Employer” shall include the Employer and any of its affiliates, and any reference to
“employment” or similar terms shall include a director and/or consulting relationship. All information, trade secrets, designs, ideas, concepts, improvements, product developments, discoveries, and inventions, whether patentable or not,
that are conceived, made, developed, disclosed to, or acquired by Executive (whether before the Effective Date or after), individually or in conjunction with others, during the period of Executive’s employment by the Employer (whether during
business hours or otherwise and whether on the Employer’s premises or otherwise) that relate to the Employer’s or any of its affiliates’ businesses, trade secrets, products, or services (including, without limitation, all such
information relating to corporate opportunities, strategies, business plans, product specifications, compositions, manufacturing and distribution methods and processes, research, financial and sales data, pricing terms, evaluations, opinions,
interpretations, acquisition prospects, the identity of customers or their requirements, 

  
 11 

 
the identity of key contacts within the customer’s organizations or within the organization of acquisition prospects, or production, marketing, and merchandising techniques, prospective
names and marks), and all writings or materials of any type embodying any of such information, ideas, concepts, improvements, discoveries, inventions, and other similar forms of expression (collectively, “Confidential
Information”) shall be disclosed to the Employer and are and shall be the sole and exclusive property of the Employer or its affiliates, as applicable. Moreover, all documents, videotapes, written presentations, brochures, drawings,
memoranda, notes, records, files, correspondence, manuals, models, specifications, computer programs, E-mail, voice mail, electronic databases, maps, drawings, architectural renditions, models, and all other writings or materials of any type
embodying any of such information, ideas, concepts, improvements, discoveries, inventions, and other similar forms of expression (collectively, “Work Product”) are and shall be the sole and exclusive property of the Employer
(or its affiliates). Executive agrees to perform all actions reasonably requested by the Employer or its affiliates to establish and confirm such exclusive ownership. Upon termination of Executive’s employment with the Employer, for any reason,
Executive promptly shall deliver such Confidential Information and Work Product, and all copies thereof, to the Employer. Notwithstanding the foregoing, “Confidential Information” does not include any information that: (a) was
known to the public prior to its disclosure to Executive, (b) becomes known to the public subsequent to disclosure to Executive through no wrongful act of Executive or any representative of Executive, or (c) Executive is required to
disclose by applicable law, regulation, or legal process (provided that Executive provides the Employer with prior notice of the anticipated disclosure and reasonably cooperates with the Employer at the Employer’s expense in seeking a
protective order or other appropriate protection of such information). 
 6.2 Disclosure to Executive. The
Employer has and will disclose to Executive and place Executive in a position to have access to or develop Confidential Information and Work Product of the Employer (or its affiliates); and/or has and will entrust Executive with business
opportunities of the Employer (or its affiliates); and has and will place Executive in a position to develop business good will on behalf of the Employer (or its affiliates). 
 6.3 No Unauthorized Use or Disclosure. Executive agrees to preserve and protect the confidentiality of all Confidential Information and Work Product. Executive agrees that Executive will
not, at any time during or after Executive’s employment with the Employer, make any unauthorized disclosure of, and Executive shall not remove from the Employer premises, Confidential Information or Work Product, or make any use thereof,
except, in each case, in the carrying out of Executive’s responsibilities hereunder. Executive shall use all reasonable efforts to cause all persons or entities to whom any Confidential Information shall be disclosed by Executive hereunder to
preserve and protect the confidentiality of such Confidential Information. At the request of the Employer at any time, Executive agrees to deliver to the Employer all Confidential Information that Executive may possess or control. Executive agrees
that all Confidential Information of the Employer (whether now or hereafter existing) conceived, discovered, or made by Executive during the period of Executive’s employment by the Employer exclusively belongs to the Employer (and not to
Executive), and upon request by the Employer for specified Confidential Information, Executive will promptly disclose such Confidential Information to the Employer and perform all actions reasonably requested by the Employer to establish and confirm
such exclusive ownership. Affiliates of the Employer shall be third party beneficiaries of Executive’s obligations under this Article VI. As a result of Executive’s 

  
 12 

 
employment by the Employer, Executive may also from time to time have access to, or knowledge of, confidential information or work product of third parties, such as customers, suppliers,
partners, joint venturers, and the like, of the Employer and its affiliates. Executive also agrees to preserve and protect the confidentiality of such third party confidential information and work product. 

6.4 Ownership by the Employer. If, during Executive’s employment by the Employer, Executive creates or has created any
work of authorship fixed in any tangible medium of expression that is the subject matter of copyright (such as videotapes, written presentations, or acquisitions, computer programs, E-mail, voice mail, electronic databases, drawings, maps,
architectural renditions, models, manuals, brochures, or the like) relating to the Employer’s business, products, or services, whether such work is created solely by Executive or jointly with others (whether during business hours or otherwise
and whether on the Employer’s premises or otherwise), including any Work Product, the Employer shall be deemed the author of such work if the work is prepared by Executive in the scope of Executive’s employment; or, if the work relating to
the Employer’s business, products, or services is not prepared by Executive within the scope of Executive’s employment but is specially ordered by the Employer as a contribution to a collective work, as a part of any audiovisual work, as a
translation, as a supplementary work, as a compilation, or as an instructional text, then the work shall be considered to be work made for hire and the Employer shall be the author of the work. If the work relating to the Employer’s business,
products, or services is neither prepared by Executive within the scope of Executive’s employment nor a work specially ordered that is deemed to be a work made for hire during Executive’s employment by the Employer, then Executive hereby
agrees to assign, and by these presents does assign, to the Employer all of Executive’s worldwide right, title, and interest in and to such work and all rights of copyright therein. 

6.5 Assistance by Executive. During the period of Executive’s employment by the Employer, Executive shall assist the
Employer and its nominee, at any time, in the protection of the Employer’s or its affiliates’ worldwide right, title, and interest in and to Confidential Information and Work Product, and the execution of all formal assignment documents
requested by the Employer or its nominee(s), and the execution of all lawful oaths and applications for patents and registration of copyright in the United States and foreign countries. After Executive’s employment with the Employer terminates,
at the request from time to time and expense of the Employer or its affiliates, Executive shall assist the Employer or its nominee(s) in the protection of the Employer’s or its affiliates’ worldwide right, title, and interest in and to
Confidential Information and Work Product, and the execution of all formal assignment documents requested by the Employer or its nominee, and the execution of all lawful oaths and applications for patents and registration of copyright in the United
States and foreign countries. 
 6.6 Remedies. Executive acknowledges that money damages would not be a sufficient
remedy for any breach of this Article VI by Executive, and the Employer or its affiliates shall be entitled to enforce the provisions of this Article VI by terminating payments then owing to Executive under this Agreement or otherwise and to
specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be deemed the exclusive remedies for a breach of this Article VI but shall be in addition to all remedies available at law or in
equity, including the recovery of damages from Executive and Executive’s agents. However, if it is determined by the Board acting in good faith, or by an 

  
 13 

 
arbitrator or court as contemplated by Section 10.2 that Executive has not committed a breach of this Article VI, then the Employer shall resume the payments and benefits due under this
Agreement and pay to Executive all payments and benefits that had been suspended pending such determination. 
 ARTICLE VII

 STATEMENTS CONCERNING THE EMPLOYER AND EXECUTIVE  

7.1 Statements Concerning the Employer. Executive shall refrain, both during and after the termination of the employment
relationship, from publishing any oral or written statements about the Employer, any of its affiliates, or any of the Employer’s or such affiliates’ directors, officers, employees, consultants, agents, representatives, customers, or
suppliers that (a) are disparaging, slanderous, libelous, or defamatory, (b) disclose Confidential Information, or (c) place the Employer, any of its affiliates, or any of the Employer’s or any such affiliates’ directors,
officers, employees, consultants, agents, or representatives in a false light before the public. 
 7.2 Statements
Concerning the Executive. Following the Executive’s termination of employment with the Employer, the Employer’s executive officers, the members of the Board, and the Employer’s human resources representatives shall refrain
from publishing any oral or written statements about the Executive that (a) are disparaging, slanderous, libelous, or defamatory or (b) place the Executive in a false light before the public. 

7.3 Enforcement Rights. A violation or threatened violation of this Section 7 by either party may be enjoined by the
courts. The rights afforded the Employer, its affiliates, and the Executive under this provision are in addition to any and all rights and remedies otherwise afforded by law. 
 ARTICLE VIII 
 NON-COMPETITION AGREEMENT  

8.1 Definitions. As used in this Article VIII, the following terms shall have the following meanings: 

“Business” means (a) during the period of Executive’s employment by the Employer, the business of
developing and/or providing the products and services developed and/or provided by the Employer and its affiliates, and other products and services that are functionally equivalent to the foregoing, and (b) during the portion of the Prohibited
Period that begins on the termination of Executive’s employment with the Employer and its affiliates (as applicable), the business of developing and/or providing the products and services developed and/or provided by the Employer and its
affiliates at the time of such termination of employment and other products and services that are functionally equivalent to the foregoing; provided, however, that if Executive’s termination of employment occurs within 60 days following the
occurrence of a Change in Control, “Business” shall mean the business described in clauses (a) and (b) of this Section 8.1 as in existence immediately prior to the Change in Control. 

  
 14 

 “Competing Business” means any business, individual, partnership,
firm, corporation, or other entity which engages in the Business in the Restricted Area. In no event will the Employer or any of its affiliates be deemed a Competing Business. 
 “Governmental Authority” means any governmental, quasi-governmental, state, county, city, or other political subdivision of the United States or any other country, or any agency,
court or instrumentality, foreign or domestic, or statutory or regulatory body thereof. 
 “Legal
Requirement” means any law, statute, code, ordinance, order, rule, regulation, judgment, decree, injunction, franchise, permit, certificate, license, authorization, or other directional requirement (including, without limitation, any of
the foregoing that relates to environmental standards or controls, energy regulations, and occupational, safety, and health standards or controls, including those arising under environmental laws) of any Governmental Authority. 

“Prohibited Period” means the period during which Executive is employed by the Employer or any of its affiliates
and a period of two years following the date that Executive is no longer employed by Employer or any of its affiliates; provided, however, that in the event that Executive’s termination of employment under this Agreement occurs pursuant
to Executive’s resignation under Section 3.3 of this Agreement for a reason other than Good Reason, then the Prohibited Period shall mean the period during which Executive is employed by the Employer or any of its affiliates and a period of one
year following the date that Executive is no longer employed by the Employer or any of its affiliates. 
 “Restricted
Area” means: Lafayette Parish, Louisiana; Harris County, Texas; Montgomery County, Texas; and Fort Bend County, Texas; and any other geographical area within 100 miles of any location in which the Employer engages in the Business as of
the Date of Termination. 
 8.2 Non-Competition; Non-Solicitation. Executive and the Employer agree to the
non-competition and non-solicitation provisions of this Article VIII in consideration for the Confidential Information provided by the Employer to Executive pursuant to Article VI of this Agreement, to further protect the trade secrets and
Confidential Information disclosed or entrusted to Executive or created or developed by Executive for the Employer, to protect the business goodwill of the Employer developed through the efforts of Executive and the business opportunities disclosed
or entrusted to Executive and the other legitimate business interests of the Employer, and as an express incentive for the Employer to enter into this Agreement. 

(a) Subject to the exceptions set forth in Section 8.2(b) below, Executive expressly covenants and agrees that during
the Prohibited Period, Executive will refrain from carrying on or engaging in, directly or indirectly, any Business in competition with the Employer or its affiliates in the Restricted Area. Accordingly, Executive will not, directly or indirectly,
own, manage, operate, join, become an employee of, partner in, owner, or member of (or an independent contractor to), control or participate in, be connected with or loan money to, sell or lease equipment or property to, or otherwise be affiliated
with any Competing Business in the Restricted Area. 
 (b) Notwithstanding the restrictions contained in
Section 8.2(a), Executive or any of Executive’s affiliates may own an aggregate of not more than 2% of the outstanding stock of any class of any corporation that is a Competing Business, if such stock is listed on a national securities
exchange or regularly traded in the over-the-counter market by a member of a national securities exchange, without violating the 

  
 15 

 
provisions of Section 8.2(a), provided that neither Executive nor any of Executive’s affiliates has the power, directly or indirectly, to control or direct the management or affairs of
any such corporation and is not involved in the management of such corporation. 
 (c) Executive further
expressly covenants and agrees that during the Prohibited Period, Executive will not, and Executive will cause Executive’s affiliates not to (i) engage or employ, or solicit or contact with a view to the engagement or employment of, any
person who is an officer or employee of the Employer or any of its affiliates, or (ii) canvass, solicit, approach, or entice away, or cause to be canvassed, solicited, approached, or enticed away, from the Employer or any of its affiliates any
person who or which is a customer of any of such entities during the period during which Executive is employed by the Employer. Notwithstanding the foregoing, the restrictions of clause (c) of this Section 8.2(c) shall not apply with
respect to an officer, employee, or customer who responds to a general solicitation that is not specifically directed at such officer, employee, or customer of the Employer or any of its affiliates. 

(d) Before accepting employment with any other person or entity during the Prohibited Period, the Executive will inform
such person or entity of the restrictions contained in this Article VIII. 
 8.3 Relief. Executive and the Employer
agree and acknowledge that the limitations as to time, geographical area, and scope of activity to be restrained as set forth in Section 8.2 are reasonable and do not impose any greater restraint than is necessary to protect the legitimate
business interests of the Employer. Executive and the Employer also acknowledge that money damages would not be a sufficient remedy for any breach of this Article VIII by Executive, and the Employer or its affiliates shall be entitled to enforce the
provisions of this Article VIII by terminating payments then owing to Executive under this Agreement or otherwise and to specific performance and injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be
deemed the exclusive remedies for a breach of this Article VIII but shall be in addition to all remedies available at law or in equity, including the recovery of damages from Executive and Executive’s agents. 

8.4 Reasonableness; Enforcement. Executive hereby represents that Executive has read and understands, and agrees to be bound
by, the terms of this Article VIII. Executive acknowledges that the geographic scope and duration of the covenants contained in this Article VIII are the result of arm’s-length bargaining and are fair and reasonable in light of (a) the
nature and wide geographic scope of the Employer’s operations of the Business, (b) Executive’s level of control over and contact with the Employer’s business in all jurisdictions in which it is conducted, which includes the
entire Restricted Area, and (c) the amount of Confidential Information that Executive is receiving in connection with the performance of Executive’s duties on behalf of the Employer and the amount of goodwill with which Executive is and/or
will be connected and will help build on behalf of the Employer. It is the desire and intent of the parties that the provisions of this Article VIII be enforced to the fullest extent permitted under applicable Legal Requirements, whether now or
hereafter in effect; therefore, to the extent permitted by applicable Legal Requirements, Executive and the Employer hereby waive any provision of applicable Legal Requirements that would render any provision of this Article VIII invalid or
unenforceable. 

  
 16 

 8.5 Reformation; Severability. The Employer and Executive agree that the
foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this Article VIII would cause irreparable injury to the Employer. Executive understands that the foregoing restrictions may limit
Executive’s ability to engage in certain businesses anywhere in the Restricted Area during the Prohibited Period, but acknowledges that Executive will receive sufficient consideration from the Employer to justify such restriction. Further,
Executive acknowledges that Executive’s skills are such that Executive can be gainfully employed in non-competitive employment and that the agreement not to compete will not prevent Executive from earning a living. Nevertheless, if any of the
aforesaid restrictions are found by a court of competent jurisdiction or arbitral authority to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions herein set forth to be
modified by the court or arbitral authority making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. If, due to applicable law, a court or arbitral authority is not permitted to modify a restriction
within this Article VIII that it deems overly broad, then the court or arbitral authority shall have the power to, and shall, sever such overly broad restriction (or any portion thereof) so that the restrictions after such severance are enforceable
and shall be fully enforced. By agreeing to this contractual modification prospectively at this time, the Employer and Executive intend to make this Article VIII enforceable under the law or laws of all applicable states and other jurisdictions so
that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal. Such modification shall not affect the payments made to Executive under this
Agreement. 
 ARTICLE IX 
 CERTAIN EXCISE TAXES 
 Notwithstanding anything to the contrary in
this Agreement, if Executive is a “disqualified individual” (as defined in section 280G(c) of the Code), and the payments and benefits provided for in this Agreement, together with any other payments and benefits which Executive has the
right to receive from the Employer or any of its affiliates, would constitute a “parachute payment” (as defined in section 280G(b)(2) of the Code), then the payments and benefits provided for in this Agreement shall be either
(a) reduced (but not below zero) so that the present value of such total amounts and benefits received by Executive from the Employer and its affiliates will be one dollar ($1.00) less than three times Executive’s “base amount”
(as defined in section 280G(b)(3) of the Code) and so that no portion of such amounts and benefits received by Executive shall be subject to the excise tax imposed by section 4999 of the Code, or (b) paid in full, whichever produces the better
net after-tax position to Executive (taking into account any applicable excise tax under section 4999 of the Code and any other applicable taxes). The reduction of payments and benefits hereunder, if applicable, shall be made by reducing, first,
payments or benefits to be paid in cash hereunder in the order in which such payment or benefit would be paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to the extent necessary, through to
such payment or benefit that would be made first in time) and, then, reducing any benefit to be provided in-kind hereunder in a similar order. The determination as to whether any such reduction in the amount

  
 17 

 
of the payments and benefits provided hereunder is necessary shall be made by the Employer in good faith. If a reduced payment or benefit is made or provided, and through error or otherwise, that
payment or benefit, when aggregated with other payments and benefits from the Employer (or its affiliates) used in determining if a “parachute payment” exists, exceeds one dollar ($1.00) less than three times Executive’s base amount,
then Executive shall immediately repay such excess to the Employer upon notification that an overpayment has been made. Nothing in this Article 9 shall require the Employer to be responsible for, or have any liability or obligation with respect
to, Executive’s excise tax liabilities under section 4999 of the Code. 
 ARTICLE X 

MISCELLANEOUS  
 10.1 Notices. For purposes of this Agreement, notices and all other communications provided for herein shall be in writing and shall be deemed to have been duly given (a) when received
if delivered personally or by courier, (b) on the date receipt is acknowledged if delivered by certified mail, postage prepaid, return receipt requested, or (c) one day after transmission if sent by facsimile transmission with confirmation
of transmission, as follows: 
  

			
	If to Executive, addressed to:	  	 Donald Keith Mosing
 10260
Westheimer, Suite 700
 Houston, TX 77042, or the last known
 residential address reflected in Employer’s
 records

 
 Facsimile:    (281)
558-2980
 E-mail:          per company files

	 If to the Employer, addressed to:
	  	 Frank’s International, Inc.
 10260 Westheimer, Suite 700
 Houston, TX 77042

Attention: General Counsel
  
 Facsimile:     (281) 558-2980

E-mail:          brian.baird@franksintl.com
                       or the then general counsel’s

                      email
address

 or to such other address as either party may furnish to the other in writing in accordance herewith, except that notices
or changes of address shall be effective only upon receipt. 
 10.2 Applicable Law; Arbitration. 

(a) This Agreement is entered into under, and shall be governed for all purposes by, the laws of the State of Texas,
without regard to conflicts of laws principles thereof. 
 (b) Subject to Section 10.2(d) below, any
dispute, controversy or claim between Executive and the Employer arising out of or relating to this Agreement or 

  
 18 

 
Executive’s employment with the Company will be finally settled by arbitration in Houston, Texas before, and in accordance with the rules for the resolution of employment disputes then in
effect of, the American Arbitration Association (“AAA”). The costs, fees and expenses of arbitration (including, for the avoidance of doubt, any fees and expenses paid to the Arbitrator) attendant to any such arbitration
shall be borne by the Employer. The arbitration award shall be final and binding on both parties. Any arbitration conducted under this Section 10.2 shall be heard by a single arbitrator (the “Arbitrator”) selected in
accordance with the then-applicable rules of the AAA. The Arbitrator shall expeditiously hear and decide all matters concerning the dispute. The Arbitrator shall have the power to (i) gather such materials, information, testimony and evidence
as he or she deems relevant to the dispute before him or her (and each party will provide such materials, information, testimony and evidence requested by the Arbitrator, except to the extent any information so requested is subject to an
attorney-client or other privilege), and (ii) grant injunctive relief and enforce specific performance. In conjunction with the arbitration proceedings, the parties shall enter into a reasonable protective order to protect the confidentiality
of materials, information, testimony, and evidence that is proprietary, personal, or subject to a third-party confidentiality restriction. The decision of the Arbitrator shall be reasoned, rendered in writing, final, non-appealable and binding upon
the disputing parties and the parties agree that judgment upon the award may be entered by any court of competent jurisdiction; provided that the parties agree that the Arbitrator and any court enforcing the award of the Arbitrator shall not have
the right or authority to award punitive or exemplary damages to any disputing party. 
 (c) By entering into
this Agreement and entering into the arbitration provisions of this Section 10.2, THE PARTIES EXPRESSLY ACKNOWLEDGE AND AGREE THAT THEY ARE KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVING THEIR RIGHTS TO A JURY TRIAL. 

(d) Nothing in this Section 10.2 shall prohibit a party to this Agreement from instituting litigation to enforce any
arbitration award or to obtain a temporary restraining order or temporary injunctive relief as contemplated by Articles VI, VII, and VIII above. 
 10.3 No Waiver. No failure by either party hereto at any time to give notice of any breach by the other party of, or to require compliance with, any condition or provision of this Agreement
shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

10.4 Severability. If a court of competent jurisdiction or arbitral authority determines that any provision of this
Agreement is invalid or unenforceable, then the invalidity or unenforceability of that provision shall not affect the validity or enforceability of any other provision of this Agreement, and all other provisions shall remain in full force and
effect. 
 10.5 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original, but all of which together will constitute one and the same Agreement. 

  
 19 

 10.6 Withholding of Taxes and Other Employee Deductions. The Employer may
withhold from any benefits and payments made pursuant to this Agreement all federal, state, city, and other taxes and withholdings as may be required pursuant to any law or governmental regulation or ruling and all other customary deductions made
with respect to the Employer’s employees generally. 
 10.7 Headings. The Article and Section headings have
been inserted for purposes of convenience and shall not be used for interpretive purposes. 
 10.8 Gender and
Plurals. Wherever the context so requires, the masculine gender includes the feminine or neuter, and the singular number includes the plural and conversely. 
 10.9 Affiliate. As used in this Agreement, the term “affiliate” means, with respect to a person, (a) any other person controlling, controlled by, or under common
control with the first person or (b) any joint venture in which the first person is a joint venturer; the term “control,” and correlative terms, means the power, whether by contract, equity ownership or otherwise, to
direct the policies, management, or other business activities of a person; and “person” means an individual, partnership, corporation, limited liability company, trust or unincorporated organization, business entity organized
under foreign law, or a government or agency or political subdivision thereof. 
 10.10 Successors; Assigns; Third Party
Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the Employer and any successor of the Employer. In addition, the Employer may assign this Agreement and Executive’s employment to any affiliate of the
Employer at any time without the consent of Executive, and any assign of the Employer shall be deemed to be the Employer for purposes of this Agreement. Except as provided in the foregoing sentences of this Section 10.10, this Agreement and the
rights and obligations of the parties hereunder are personal, and neither this Agreement nor any right, benefit, or obligation of either party hereto shall be subject to voluntary or involuntary assignment, alienation, or transfer, whether by
operation of law or otherwise, without the prior written consent of the other party. In addition, any payment owed to Executive hereunder after the date of Executive’s death shall be paid to Executive’s estate. Each affiliate of the
Employer shall be a third party beneficiary of, and may directly enforce, Executive’s obligations under Article VI, Article VII, and Article VIII. 
 10.11 Term. Termination of this Agreement shall not affect any right or obligation of any party which is accrued or vested prior to such termination. Without limiting the scope of the
preceding sentence, the provisions of Articles V, VI, VII, and VIII, and those provisions necessary to interpret and apply them shall survive any termination of the employment relationship and/or of this Agreement. 

10.12 Entire Agreement. Except as provided in any signed written agreement contemporaneously or hereafter executed by the
Employer and Executive, this Agreement (a) constitutes the entire agreement of the parties with regard to the subject matter hereof, (b) supersedes all prior agreements, arrangements, and understandings, written or oral, relating to the
subject matter hereof, and (c) contains all the covenants, promises, representations, warranties, and agreements between the parties with respect to employment of Executive by the Employer. Without limiting the scope of the preceding sentence,
all understandings and agreements 

  
 20 

 
preceding the date of execution of this Agreement and relating to the subject matter hereof (including but not limited to any employment agreements, confidentiality agreements, noncompete
agreements, or other agreements) are hereby null and void and of no further force and effect. 
 10.13 Modification;
Waiver. Any modification to or waiver of this Agreement will be effective only if it is in writing and signed by the parties to this Agreement. 
 10.14 Actions by the Board. Any and all determinations or other actions required of the Board hereunder that relate specifically to Executive’s employment by the Employer or the terms
and conditions of such employment shall be made by the members of the Board other than Executive if Executive is a member of the Board, and Executive shall not have any right to vote or decide upon any such matter. 

10.15 Executive’s Representations and Warranties. Executive represents and warrants to the Employer that
(a) Executive does not have any agreements with any prior employers or other third parties that will prohibit Executive from working for the Employer or fulfilling Executive’s duties and obligations to the Employer pursuant to this
Agreement, and (b) Executive has complied with any and all duties imposed on Executive with respect to Executive’s former employers, including without limitation any requirements with respect to return of property. 

10.16 No Retaliation. The Employer covenants that it will not take any retaliatory action against Executive for exercising
any of his legally protected rights or obtaining an outside opinion regarding whether a breach of the Agreement or a Change in Control, as defined in Section 1.4, has occurred; provided, however, that nothing in this Section 10.16 shall
prevent the Employer from disputing any assertion by the Executive or any outside party that a breach or a Change in Control has occurred. 
 10.17 Attorneys’ Fees and Costs. The Employer shall reimburse Executive for Executive’s reasonable attorneys’ fees, costs, and expenses incurred as the result of litigation or
arbitration arising out of this Agreement. 
 10.18 Forum and Venue. With respect to any claim for injunctive
relief contemplated by Articles VI, VII, and VIII of this Agreement, the parties hereto hereby consent to the exclusive jurisdiction, forum, and venue of the state and federal courts, as applicable, located in Harris County, Texas. 

10.19 Delayed Payment Restriction. Notwithstanding any provision in this Agreement to the contrary, if any payment or
benefit provided for herein would be subject to additional taxes and interest under section 409A of the Code if Executive’s receipt of such payment or benefit is not delayed until the Section 409A Payment Date, then such payment or benefit
shall not be provided to Executive (or Executive’s estate, if applicable) until the Section 409A Payment Date. 

[Signatures begin on next page.] 

  
 21 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
            , 2013. 
  

					
	FRANK’S INTERNATIONAL, INC.
			
	By:	 	 	 	 
		 	Name:	 	 
		 	Title:	 	 
	
	EXECUTIVE
		
	 	 	 
	D. Keith Mosing	 	

  
 22 

 APPENDIX A. 

RELEASE AGREEMENT 
 This Release Agreement (this “Agreement”) constitutes the release referred to in that certain Employment Agreement (the “Employment Agreement”) dated as of
            , 2013, by and between DONALD KEITH MOSING (“Executive”) and FRANK’S INTERNATIONAL, INC., a Texas Corporation (the
“Employer”). 
 1. General Release. 

(a) For good and valuable consideration, including the Employer’s provision of certain payments and benefits to Executive in
accordance with Section 5.2 of the Employment Agreement, Executive hereby releases, discharges, and forever acquits the Employer, its affiliates and subsidiaries, their respective past, present, and future stockholders, members, partners,
directors, managers, employees, agents, attorneys, heirs, legal representatives, successors, and assigns, as well as all employee benefit plans maintained by the Employer or any of its affiliates or subsidiaries and all fiduciaries and
administrators of any such plan, in their personal and representative capacities (collectively, the “Employer Parties”), from liability for, and hereby waives, any and all claims, rights, damages, or causes of action of any
kind related to Executive’s employment with any Employer Party, the termination of such employment, and any other acts or omissions related to any matter on or prior to the date of this Agreement (collectively, the “Released
Claims”). 
 (b) The Released Claims include without limitation those arising under or related to: (i) the Age
Discrimination in Employment Act of 1967; (ii) Title VII of the Civil Rights Act of 1964; (iii) the Civil Rights Act of 1991; (iv) sections 1981 through 1988 of Title 42 of the United States Code; (v) the Employee Retirement
Income Security Act of 1974, including, but not limited to, sections 502(a)(1)(A), 502(a)(1)(B), 502(a)(2), and 502(a)(3) to the extent the release of such claims is not prohibited by applicable law; (vi) the Immigration Reform Control Act;
(vii) the Americans with Disabilities Act of 1990; (viii) the National Labor Relations Act; (ix) the Occupational Safety and Health Act; (x) the Family and Medical Leave Act of 1993; (xi) any state, local, or federal
anti-discrimination or anti-retaliation law; (xii) any state, local, or federal wage and hour law; (xiii) any other local, state, or federal law, regulation, or ordinance; (xiv) any public policy, contract, tort, or common law;
(xv) costs, fees, or other expenses including attorneys’ fees incurred in these matters; (xvi) any employment contract, incentive compensation plan, or stock option plan with any Employer Party or to any ownership interest in any
Employer Party, except as expressly provided in Section 5.2 of the Employment Agreement or as may be expressly provided in any stock option or other equity compensation agreement between Executive and the Employer; and (xvii) compensation
or benefits of any kind not expressly set forth in Section 5.2 of the Employment Agreement or in any such stock option or other equity compensation agreement between Executive and the Employer. 

(c) In no event shall the Released Claims include (i) any claim which arises after the date of this Agreement, or (ii) any
claims for the payments and benefits payable to Executive under Section 5.2 of the Employment Agreement. 

  
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 (d) Notwithstanding this release of liability, nothing in this Agreement prevents Executive
from filing any non-legally waivable claim (including a challenge to the validity of this Agreement) with the Equal Employment Opportunity Commission (“EEOC”) or comparable state or local agency or from participating in any
investigation or proceeding conducted by the EEOC or comparable state or local agency. However, notwithstanding the foregoing, Executive understands and expressly agrees that Executive is waiving any and all rights to recover any monetary or
personal relief or recovery as a result of any such EEOC (or comparable state or local agency) proceeding or subsequent legal actions. 
 (e) This Agreement is not intended to indicate that any such claims exist or that, if they do exist, they are meritorious. Rather, Executive is simply agreeing that, in exchange for the consideration
recited in the first sentence of Section 1(a) of this Agreement, any and all potential claims of this nature that Executive may have against the Employer Parties, regardless of whether they actually exist, are expressly settled, compromised,
and waived. 
 (f) By signing this Agreement, Executive is bound by it. Anyone who succeeds to Executive’s rights and
responsibilities, such as heirs or the executor of Executive’s estate, is also bound by this Agreement. This release also applies to any claims brought by any person or agency or class action under which Executive may have a right or benefit.
THIS RELEASE INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING STRICT LIABILITY, OF ANY OF THE EMPLOYER PARTIES. 

2. Covenant Not to Sue. Executive agrees not to bring or join any lawsuit against any of the Employer Parties in any court
or before any arbitral authority relating to any of the Released Claims. Executive represents that Executive has not brought or joined any lawsuit or arbitration against any of the Employer Parties in any court or before any arbitral authority and
has made no assignment of any rights Executive has asserted or may have against any of the Employer Parties to any person or entity, in each case, with respect to any Released Claims. 

3. Executive’s Acknowledgments and Representations. By executing and delivering this Agreement, Executive
acknowledges that: 
 (a) Executive has carefully read this Agreement; 

(b) Executive has had at least [twenty-one (21)] [forty-five (45)] days to consider this Agreement before the execution and delivery
hereof to the Employer [, and Executive acknowledges that attached to this Agreement is a list of (i) the job titles and ages of all employees selected for participation in the employment termination or exit incentive program pursuant to which
Executive is being offered this Agreement, (ii) the job titles and ages of all employees in the same job classification or organizational unit who were not selected for participation in the program, and (iii) information about the unit
affected by the program, including any eligibility factors for such program and any time limits applicable to such program]; [NTD: Include preceding bracketed language and reference to 45-day period, if 45-day consideration period applies.]

  
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 (c) Executive has been and hereby is advised in writing to discuss this Agreement with an
attorney of Executive’s choice and Executive has had adequate opportunity to do so; 
 (d) Executive fully understands the
final and binding effect of this Agreement; the only promises made to Executive to sign this Agreement are those stated in the Employment Agreement and herein; and Executive is signing this Agreement voluntarily and of Executive’s own free
will, and that Executive understands and agrees to each of the terms of this Agreement; and 
 (e) Executive has received all
leaves (paid and unpaid) to which Executive was entitled during his employment with the Employer and, other than any sums owed to Executive pursuant to Section 5.2 of the Employment Agreement or any vested sums owed to Executive but deferred
pursuant to any qualified or nonqualified deferred compensation plan (including but not limited to the Employer’s 401(k) cash or deferred arrangement and the Employer’s Executive Deferred Compensation Plan), Executive has received all
wages, bonuses, compensation, and other sums that Executive has been owed or ever could be owed by the Released Parties. 
 4.
Revocation Right. Executive may revoke this Agreement within the seven day period beginning on the date Executive signs this Agreement (such seven day period being referred to herein as the “Release Revocation
Period”). To be effective, such revocation must be in writing signed by Executive and must be received by the Chief Executive Officer of the Employer before 11:59 p.m., Central Standard Time, on the last day of the Release Revocation
Period. This Agreement is not effective, and no consideration shall be paid to Executive, until the expiration of the Release Revocation Period without Executive’s revocation. If an effective revocation is delivered in the foregoing manner and
timeframe, this Agreement shall be of no force or effect and shall be null and void ab initio. 
 Executed on this
            day of             ,             . 

 

	
	  
	D. Keith Mosing

  
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