Document:

EX-10.1

 Exhibit 10.1 

VIAVI SOLUTIONS INC. 

2015 CHANGE OF CONTROL BENEFITS PLAN 

1. Introduction. 
 This
Viavi Solutions Inc. (the “Company”) Change of Control Benefits Plan (the “Plan”) is established effective as of December 14, 2015 (the “Effective Date”). This document constitutes both the
plan document and summary plan description with respect to the Plan. 
 (a) Purpose. The purpose of the Plan is to describe certain
benefits to which Eligible Employees whose employment is terminated in connection with a Change of Control may become entitled. 
 (b)
Effect. This Plan supersedes and replaces any prior plans, policies or practices of the Company or any of its subsidiaries or affiliated companies that relate to severance payments or accelerated vesting of share-based incentive awards of the
Company in connection with a change of control (as such term or similar term is defined in any such arrangements) of the Company with respect to Eligible Employees. Any such plans, policies or practices, to the extent they relate to severance
payments or accelerated vesting of share-based incentive awards of the Company in connection with a change of control, are hereby rescinded and shall no longer have any force or effect to the extent such plans, policies or practices apply to
Eligible Employees. Notwithstanding the foregoing, this Plan is subordinated to any individual, written (i) severance benefit agreement, (ii) change of control severance agreement or (iii) employment agreement that provides for
severance benefits or accelerated vesting of share-based incentive awards of the Company in existence as of the Effective Date between any Eligible Employee and a member of the Company Group. For clarity, this Plan shall supersede the Viavi
Solutions Inc. Executive Severance and Retention Plan (the “Executive Plan”) with respect to the Involuntary Termination occurring on or after a Change of Control of any Eligible Employee who is also a participant in the Executive
Plan. 
 2. Definitions. The following capitalized terms used in this Plan shall have the following meanings: 

(a) “Base Salary Benefit Period” means: 

(i) for each Eligible Employee who, immediately prior to such employee’s Termination Date, is employed in the position of Executive Vice
President, Head of Business Unit-NSE Operating Segment or Head of Business Unit-OSP Operating Segment (disregarding any change in position constituting Good Reason), a period of twenty-four (24) months; 

(ii) for each Eligible Employee who, immediately prior to such employee’s Termination Date, is employed in the position of Senior Vice
President reporting directly to the Chief Executive Officer of the Company or the most senior executive (regardless of position title) responsible for any of the following functions of the Company Group: Human Resources, Information Technology and
Legal Services (disregarding any change in position constituting Good Reason), a period of eighteen (18) months; and 

 (iii) for each Eligible Employee who, immediately prior to such employee’s Termination
Date, is employed in a position of Vice President reporting to the Senior Vice President of the OSP Operating Segment or another position designated in writing by the Chief Executive Officer as being an Eligible Employee, subject to subsequent
review and ratification by the Compensation Committee of the Board at its discretion (disregarding any change in position constituting Good Reason), a period of twelve (12) months. 

(b) “Base Salary Rate” means the Eligible Employee’s monthly base salary rate in effect immediately prior to such
employee’s Termination Date (disregarding any reduction in the Eligible Employee’s base salary rate constituting Good Reason). Base Salary Rate does not include any bonuses, commissions, fringe benefits, car allowances, other irregular
payments or any other compensation except base salary. 
 (c) “Board” means the Board of Directors of the Company or the
successor to the Company. 
 (d) “Cause” means the occurrence of any of the following, in each case as reasonably
determined by the Board: 
 (i) gross negligence or willful misconduct in an Eligible Employee’s performance of duties to the Company
Group; or 
 (ii) a material and willful violation of any federal or state law by an Eligible Employee that if made public would injure the
business or reputation of the Company Group; 
 (iii) refusal or willful failure by an Eligible Employee to comply with any specific lawful
direction or order of the Company Group or the material policies and procedures of the Company Group, including but not limited to the Viavi Solutions Inc. Code of Business Conduct and Insider Trading Policy, as well as any obligations concerning
proprietary rights and confidential information of the Company Group; or 
 (iv) conviction (including a plea of nolo contendere) of an
Eligible Employee of a felony, or of a misdemeanor that would have a material adverse effect on the Company Group’s goodwill if such Eligible Employee were to be retained as an employee of the Company Group; or 

(v) substantial and continuing willful refusal by an Eligible Employee to perform duties ordinarily performed by an employee in the same
position and having similar duties as such Eligible Employee. 
 (e) “Change of Control” means the occurrence of one or
more of the following with respect to the Company: 
 (i) the acquisition by any person (or related group of persons), whether by tender or
exchange offer made directly to the Company’s stockholders, open market purchases or any other transaction or series of transactions, of stock of the Company that, together with stock of the Company held by such person or group, constitutes
more than fifty percent (50%) of the total fair market value or total voting power of the then outstanding stock of the Company entitled to vote generally in the election of the Board; or 

  
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 (ii) a merger or consolidation in which the Company is not the surviving entity, except for a
transaction in which both (A) securities representing more than fifty percent (50%) of the total combined voting power of the surviving entity are beneficially owned (within the meaning of Rule 13d-3 promulgated under the Securities
Exchange Act of 1934), directly or indirectly, immediately after such merger or consolidation by persons who beneficially owned common stock immediately prior to such merger or consolidation and (B) the members of the Board immediately prior to
the transaction (the “Existing Board”) constitute a majority of the Board immediately after such merger or consolidation; or 

(iii) any reverse merger or series of related transactions culminating in a reverse merger (including, but not limited to, a tender offer
followed by a reverse merger) in which the Company is the surviving entity but in which either (A) securities representing more than forty percent (40%) of the total combined voting power of the Company’s outstanding securities are
beneficially owned, directly or indirectly, immediately after such reverse merger by a person or persons who did not beneficially own, directly or indirectly, such securities immediately prior to such reverse merger or the initial transaction
culminating in such reverse merger or (B) the members of the Existing Board do not constitute a majority of the Board immediately after such reverse merger; or 

(iv) the sale, transfer, lease or other disposition of all or substantially all of the assets of the Company or the exclusive license of all
or substantially all of the intellectual property of the Company (other than a sale, transfer, lease or other disposition or exclusive license to one or more subsidiaries of the Company); provided, however, that a transaction described in clause
(v) of this Section 2(e) shall not be deemed a Change of Control except with respect to NSE Eligible Employees; or 
 (v) with
respect to NSE Eligible Employees only, the closing of a transaction that results in assets representing at least fifty percent (50%) of the assets or revenues of the NSE operating segment being separated from the Company’s business
through a sale, transfer or other disposition; or 
 (vi) with respect to OSP Eligible Employees only, the closing of a transaction that
results in assets representing at least fifty percent (50%) of the assets or revenues of the OSP operating segment being separated from the Company’s business through a sale, transfer or other disposition. 

Notwithstanding the foregoing, to the extent that any amount constituting nonqualified deferred compensation within the meaning of
Section 409A of the Code would become payable under this Plan by reason of a Change of Control, such amount shall become payable only if the event constituting a Change of Control would also constitute a change in ownership or effective control
of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning of Section 409A of the Code. 

  
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 (f) “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985.

 (g) “Code” means the Internal Revenue Code of 1986, as amended, or any successor thereto and any applicable regulations
promulgated thereunder. 
 (h) “Company Group” means the group consisting of the Company, any successor in interest to
substantially all of the business and/or assets of the Company and each present or future parent and subsidiary corporation or other business entity thereof. 

(i) “Coverage Period” with respect to an Eligible Employee means the period beginning upon the consummation of a Change of
Control and ending twelve (12) months following the consummation of such Change of Control. 
 (j) “Disability” means
a mental or physical disability, illness or injury, evidenced by medical reports from a duly qualified medical practitioner, which renders an Eligible Employee unable to perform any one or more of the essential duties of his or her position after
the provision of reasonable accommodation, if applicable, for a period of greater than ninety (90) days within a one year period. 

(k) “Eligible Employee” means an individual employed by a member of the Company Group in the United States and paid through a
United States payroll who is either (i) employed in one or more of the following positions: (A) an Executive Vice President, (B) a Senior Vice President reporting directly to the Chief Executive Officer of the Company, (C) a Vice
President reporting to the Senior Vice President of the OSP Operating Segment, or (D) the most senior executive (regardless of position title) responsible for any of the following functions of the Company Group: Human Resources, Information
Technology and Legal Services; or (ii) designated in writing by the Chief Executive Officer as being an Eligible Employee, subject to subsequent review and ratification by the Compensation Committee of the Board at its discretion. 

(l) “Equity Award” means a stock option, stock appreciation right, restricted stock, restricted stock unit, performance share
or performance unit award, or any other security or similar share-based incentive award, whether exercisable for, or to be paid or settled in, shares of capital stock or cash. 

(m) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

(n) “Good Reason” means the occurrence of any of the following conditions without the Eligible Employee’s express
written consent, which condition(s) remain(s) in effect thirty (30) days after written notice to the Company from the Eligible Employee of such condition(s) and which notice must have been given within thirty (30) days following the
initial occurrence of such condition(s): 
 (i) the significant reduction of the Eligible Employee’s duties, authority,
responsibilities, job title or reporting relationships relative to the Eligible Employee’s duties, authority, responsibilities, job title, or reporting relationships as in effect immediately 

  
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prior to such reduction, or the assignment to the Eligible Employee of such reduced duties, authority, responsibilities, job title, or reporting relationships; provided, however, that the
occurrence of a Change of Control shall not, in and of itself, constitute a material adverse change in the Eligible Employee’s position, duties or responsibilities; or 

(ii) a material reduction by the Company Group in the base salary or cash variable incentive compensation target of the Eligible Employee as
in effect immediately prior to such reduction; or 
 (iii) a material reduction by the Company Group in the kind or level of employee
benefits, including bonuses, to which the Eligible Employee was entitled immediately prior to such reduction with the result that the Eligible Employee’s overall benefits package is significantly reduced; or 

(iv) the relocation of the Eligible Employee’s principal work location to a facility or a location more than fifty (50) miles from
the Eligible Employee’s then present principal work location; or 
 (v) the failure of the Company Group to obtain agreement from any
successor contemplated in Section 7 below to provide the benefits provided for in this Plan as it exists as the time of succession. 

The existence of Good Reason shall not be affected by the Eligible Employee’s temporary incapacity due to physical or mental illness not
constituting a Disability. The Eligible Employee’s continued employment for a period not exceeding ninety (90) days following the initial occurrence of any condition constituting Good Reason shall not constitute consent to, or a waiver of
rights with respect to, such condition. For the purposes of any determination regarding the existence of Good Reason, any claim by the Eligible Employee that Good Reason exists shall be presumed to be correct unless the Company establishes to the
Board that Good Reason does not exist, and the Board, acting in good faith, affirms such determination (excluding the Eligible Employee if the Eligible Employee is a member of the Board). 

(o) “Involuntary Termination” means the occurrence of either of the following events: 

(i) termination by the Company Group of the Eligible Employee’s employment for any reason other than Cause; or 

(ii) the Eligible Employee’s termination of employment with the Company Group for Good Reason, provided that such termination occurs
within ninety (90) days following the initial occurrence of the condition constituting Good Reason; 
 provided, however, that Involuntary
Termination shall not include any termination of the Eligible Employee’s employment which is (A) for Cause, (B) a result of the Eligible Employee’s death or Disability, or (C) a result of the Eligible Employee’s
voluntary termination of employment other than for Good Reason. 

  
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 (p) “NSE Eligible Employee” means an Eligible Employee who, at the time of a
Change of Control, is employed in the NSE Operating Segment. 
 (q) “NSE Operating Segment” means the Network Service and
Enablement operating segment of the Company Group, as such segment is reported in the Company’s annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the last full fiscal year. 

(r) “OSP Eligible Employee” means an Eligible Employee who, at the time of a Change of Control, is employed in the OSP
Operating Segment. 
 (s) “OSP Operating Segment” means the Optical Security and Performance Products operating segment of
the Company Group, as such segment is reported in the Company’s annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the last full fiscal year. 

(t) “Release” means a general release of all known and unknown claims against the Company Group and its affiliates and their
stockholders, directors, officers, employees, agents, successors and assigns substantially in the form attached hereto as Exhibit A (“General Release of Claims [Age 40 and over]”) or Exhibit B (“General Release
of Claims [Under age 40]”), whichever is applicable, with any modifications thereto determined by legal counsel to the Company to be necessary or advisable to comply with applicable law or to accomplish the intent of Section 8 (Exclusive
Benefits) hereof. 
 (u) “Release Deadline Date” means the sixtieth (60th) day following the Eligible Employee’s
Termination Date. 
 (v) “Separation from Service” means a separation from service (as such term is defined under Treasury
Regulations Section 1.409A-1(h), without regard to any alternate definitions thereunder, with the Company, each present and former subsidiary of the Company, and each successor to the Company. 

(w) “Termination Date” means the date of an Eligible Employee’s Separation from Service. 

3. Eligibility for Severance and Other Benefits. Eligible Employees will receive the benefits described herein under the following
circumstances: 
 (a) Involuntary Termination During Coverage Period. In the event of an Eligible Employee’s Separation from
Service resulting from such Eligible Employee’s Involuntary Termination at any time during a Coverage Period, then, provided that, on or before the Release Deadline Date, the Eligible Employee executes the Release applicable to such Eligible
Employee and the period for revocation, if any, of such Release has lapsed without the Release having been revoked, the Eligible Employee will receive the following: 

(i) Cash Severance. A lump sum cash payment in an amount equal to the sum of: 

  
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 (A) the product of the Eligible Employee’s Base Salary Rate and the number of months
contained in the Eligible Employee’s Base Salary Benefit Period, less any amounts to which Eligible Employee is otherwise entitled under any statutory long or short term disability plan, and 

(B) the product of (i) the monthly premium that would be in effect for the month in which the Eligible Employee’s Termination Date
occurs were the Eligible Employee eligible for, and elected to receive, continued healthcare coverage for the Eligible Employee and the Eligible Employee’s dependents who would be eligible for such coverage under COBRA and (ii) twelve
(12). 
 Such payment shall be made to the Eligible Employee through the Company’s payroll system on first regular payroll date occurring at least five
(5) business days following the effective date of the Eligible Employee’s Release (but in any event no later than the 15th day of the third calendar month following the later to end of the calendar year or the Company’s fiscal year in
which the Eligible Employee’s Termination Date occurs). The Eligible Employee may, but shall not be obligated to, use the payment provided under clause (B) above toward the cost of COBRA continued healthcare coverage premiums, which amount
shall be fully taxable. 
 (ii) Equity Award Accelerated Vesting. The Eligible Employee’s right, title and entitlement to any
and all unvested Equity Awards that have been granted or issued to the Eligible Employee as of the Termination Date by the Company Group (A) that are subject to time-based vesting conditions shall automatically be accelerated in full so as to
become immediately and completely vested, and (B) that are subject to performance-based vesting conditions with a “target” achievement level shall automatically be accelerated at 100% of such “target” achievement level so as
to become immediately and completely vested and fully exercisable to such extent. Such acceleration of vesting and exercisability shall be effective upon the later of the Release Effective Date or the consummation of the Change of Control.
Notwithstanding any other provision in the relevant equity incentive plan and/or notice of grant and grant agreement to the contrary, all stock options held by the Eligible Employee shall remain fully exercisable until the earlier of (x) two
(2) years from the Termination Date, or (y) the expiration of the term of the stock option as provided in the relevant notice of grant and grant agreement. In all other respects, the Eligible Employee’s Equity Awards shall continue to
be subject to the terms of the applicable equity incentive plan, notice of grant and grant agreement. 
 (b) Voluntary Resignation;
Termination for Cause. If an Eligible Employee’s employment terminates by reason of voluntary resignation (which is not for Good Reason), or if an Eligible Employee is terminated for Cause, then such Eligible Employee shall not be entitled
to receive any benefits under Section 3(a) of this Plan. 
 (c) Disability. If an Eligible Employee suffers from a Disability,
the Company Group may terminate such Eligible Employee’s employment to the extent permitted by law and, if such Separation from Service occurs within twelve (12) months following a Change of Control, the Company will then pay to that
Eligible Employee the compensation set forth in Section 3(a) of this Plan. 

  
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 (d) Death. If an Eligible Employee’s employment is terminated due to the death of
such Eligible Employee within twelve (12) months following a Change of Control, then the compensation set forth in Section 3(a) of this Plan will be paid to the former Eligible Employee’s estate. 

(e) Termination Not in Connection With a Change of Control. In the event an Eligible Employee’s employment terminates for any
reason or no reason, whether on account of Disability, death, or otherwise, on a date that is not within the Coverage Period with respect to a Change of Control, then such Eligible Employee shall not be entitled to receive severance or any other
benefits under Section 3(a) of this Plan. 
 (f) Offset of Debt to Company Group. If an Eligible Employee is indebted to the
Company Group at the time of a termination that would give rise to severance benefits under Section 3(a), the Company Group reserves the right to offset such severance benefits under the Plan by the amount of such indebtedness. 

4. Section 409A of the Code. 

(a) Payments and benefits that may be provided pursuant to this Plan are intended to be exempt from treatment as nonqualified deferred
compensation subject to Section 409A of the Code by reason of the short-term deferral exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception described in Treasury Regulation
Section 1.409A-1(b)(9)(iii), or otherwise. 
 (b) Notwithstanding any inconsistent provision of this Plan, to the extent the Company
determines in good faith that (i) one or more of the payments or benefits received or to be received by an Eligible Employee pursuant to this Plan in connection with such Eligible Employee’s termination of employment would constitute
nonqualified deferred compensation subject to the rules of Section 409A of the Code, and (ii) that the Eligible Employee is a “specified employee” under Section 409A (determined using the identification methodology selected
by the Company from time to time, or if none, the default methodology described in the applicable Treasury Regulation), then only to the extent required to avoid the Eligible Employee’s incurrence of any additional tax or interest under
Section 409A of the Code, such payment or benefit will be delayed until the earlier of the date which is six (6) months after the Eligible Employee’s Separation from Service or the date of the Eligible Employee’s death (in either
case, the “Delayed Payment Date”). 
 (c) The vesting of any Equity Award which constitutes nonqualified deferred
compensation subject to Section 409A of the Code and is held by an Eligible Employee who is a “specified employee” shall be accelerated in accordance with Section 3(a) to the extent applicable; provided, however, that the payment
in settlement of any such Equity Award that would otherwise occur prior to the Delayed Payment Date shall occur on the Delayed Payment Date and otherwise shall be paid in accordance with its then existing settlement schedule. 

(d) The Company intends that income provided to Eligible Employees pursuant to this Plan will not be subject to taxation under
Section 409A of the Code. The Company will revise any applicable provisions of this Plan to maintain to the maximum extent 

  
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practicable the original intent of the applicable Plan provisions without violating the provisions of Section 409A of the Code if the Company deems such revisions necessary or advisable
pursuant to guidance under Section 409A of the Code to avoid the incurrence of any such interest and penalties. Such revisions shall not result in a reduction of the aggregate amount of payments or benefits under this Plan. However, the Company
does not guarantee any particular tax effect for income provided to Eligible Employees pursuant to this Plan. In any event, except for the Company’s responsibility to withhold applicable income and employment taxes from compensation paid or
provided to Eligible Employees, the Company shall not be responsible for the payment of any taxes, penalties, interest, costs, fees, including attorneys’ fees, or other liability incurred by an Eligible Employee in connection with compensation
paid or provided to the Eligible Employee pursuant to this Plan. 
 5. Certain Tax Matters. 

(a) Withholding. All payments made pursuant to this Plan will be subject to withholding of applicable income and employment taxes. 

(b) Parachute Payments. In the event that any payment or other benefits provided for in this Plan or otherwise payable to an Eligible
Employee would (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) become subject to the excise tax imposed by Section 4999 of the Code (or any corresponding provisions of state
tax law), then, notwithstanding the other provisions of this Plan, such Eligible Employee’s benefits under Section 3 will not exceed the amount which produces the greatest after-tax benefit to the Eligible Employee. For purposes of the
foregoing, the greatest after-tax benefit will be determined no later than thirty (30) days after the Termination Date, by the Eligible Employee in his/her sole discretion. If no such determination is made by the Eligible Employee within thirty
(30) days of the Termination Date, then the Company Group will pay the benefits as provided in Section 3. For the avoidance of doubt, the Company Group shall not pay to, or for the benefit of, any Eligible Employee any excise or other tax
liability incurred by such Eligible Employee pursuant to Section 4999 of the Code (or any corresponding provisions of state tax law) or any “gross-up” amount in connection with any such tax liability incurred by such Eligible
Employee. 
 6. At-Will Employment. Subject only to any individual written agreement between a member of the Company Group and an
Eligible Employee to the contrary, each Eligible Employee’s employment is and shall continue to be at-will, as defined under applicable law. If an Eligible Employee’s employment terminates for any reason other than as specified in
Section 3, such Eligible Employee shall not be entitled to any benefits, damages, awards or compensation under this Plan. 
 7.
Successors and Assigns. 
 (a) Successors of the Company. The Company shall require any successor or assign (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, expressly, absolutely and unconditionally to assume and agree to perform this Plan in the same manner and to the
same extent that the Company would be required to perform it if no such succession or assignment had taken place. 

  
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 (b) Acknowledgment by Company. If the Company fails to reasonably confirm that it has
performed the obligation described in Section 7(a) within twenty (20) days after written request for such confirmation from an Eligible Employee, such failure shall be a material breach of this Plan and shall entitle the Eligible Employee
to resign for Good Reason and to receive the benefits provided under this Plan in the event of Involuntary Termination. 
 (c) Heirs and
Representatives of Eligible Employee. This Plan shall inure to the benefit of and be enforceable by the Eligible Employees’ personal or legal representatives, executors, administrators, successors, heirs, distributees, devises, legatees or
other beneficiaries. If an Eligible Employee should die while any amount would still be payable to the Eligible Employee hereunder (other than amounts which, by their terms, terminate upon the death of the Eligible Employee) if the Eligible Employee
had continued to live, then all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Plan to the executors, personal representatives or administrators of the Eligible Employee’s estate. 

8. Exclusive Benefits. Eligible Employees shall not be entitled to any payments, compensation, benefits or other consideration from the
Company Group, apart from those identified in Section 3, on account of a termination during the Coverage Period with respect to a Change of Control. 

9. Claims for Benefits. 

(a) ERISA Plan. This Plan is intended to be (a) an employee welfare benefit plan as defined in Section 3(1) of ERISA and
(b) a “top-hat” plan maintained for the benefit of a select group of management or highly compensated employees of the Company Group. 

(b) Application for Benefits. All applications for payments and/or benefits under the Plan (“Benefits”) shall be
submitted to the Company’s Chief Financial Officer (the “Claims Administrator”), with a copy to the Company’s Chief Executive Officer. Applications for Benefits must be in writing on forms acceptable to the Claims
Administrator and must be signed by the Eligible Employee or beneficiary. The Claims Administrator reserves the right to require the Eligible Employee or beneficiary to furnish such other proof of the Eligible Employee’s expenses, including
without limitation, receipts, canceled checks, bills, and invoices as may be required by the Claims Administrator. 
 (c) Appeal of
Denial of Claim. 
 (i) If a claimant’s claim for Benefits is denied, the Claims Administrator shall provide notice to the
claimant in writing of the denial within ninety (90) days after its submission. The notice shall be written in a manner calculated to be understood by the claimant and shall include: 

(A) The specific reason or reasons for the denial; 

(B) References to the specific Plan provisions on which the denial is based; 

  
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 (C) A description of any additional material or information necessary for the applicant to
perfect the claim and an explanation of why such material or information is necessary; and 
 (D) An explanation of the Plan’s claims
review procedures and time limits applicable to such procedures, including a statement of claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination. 

(ii) If special circumstances require an extension of time for processing the initial claim, a written notice of the extension and the reason
therefor shall be furnished to the claimant before the end of the initial ninety (90) day period. In no event shall such extension exceed ninety (90) days. 

(iii) If a claim for Benefits is denied, the claimant, at the claimant’s sole expense, may appeal the denial to the Committee as
constituted immediately prior to the applicable Involuntary Termination (the “Appeals Administrator”), regardless of whether all or any of the members of the Appeals Administrator continue to be affiliated with the
Company following the Involuntary Termination, within sixty (60) days of the receipt of written notice of the denial. In pursuing such appeal the claimant or his or her duly authorized representative: 

(A) may request in writing that the Appeals Administrator review the denial; 

(B) may review pertinent documents; and 

(C) may submit issues and comments in writing. 

(iv) The decision on review shall be made within sixty (60) days of receipt of the request for review, unless special circumstances
require an extension of time for processing, in which case a decision shall be rendered as soon as possible, but not later than one hundred twenty (120) days after receipt of the request for review. If such an extension of time is required,
written notice of the extension shall be furnished to the claimant before the end of the original sixty (60) day period. The decision on review shall be made in writing, shall be written in a manner calculated to be understood by the claimant,
and, if the decision on review is a denial of the claim for Benefits, shall include: 
 (A) The specific reason or reasons for the denial;

 (B) References to the specific Plan provisions on which the denial is based; 

(C) A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, the Plan and
all documents, records and other information relevant to his or her claim for benefits; and 
 (D) A statement of claimant’s right to
bring a civil action under ERISA Section 502(a) following an adverse benefit determination. 

  
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 (d) Exhaustion of Administrative Remedies. The exhaustion of these claims procedures is
mandatory for resolving every claim and dispute arising under the Plan. As to such claims and disputes: 
 (i) No claimant shall be
permitted to commence any legal action to recover benefits or to enforce or clarify rights under the Plan under Section 502 or Section 510 of ERISA or under any other provision of law, whether or not statutory, until these claims
procedures have been exhausted in their entirety; and 
 (ii) In any such legal action, all explicit and implicit determinations by the
Claims Administrator (including, but not limited to, determinations as to whether the claim, or a request for a review of a denied claim, was timely filed) shall be afforded the maximum deference permitted by law. 

10. Dispute Resolution. Any dispute or claim relating to or arising out of this Plan that is not resolved in accordance with procedure
described in Section 9 shall be resolved by means of binding arbitration in Santa Clara County, California before a sole arbitrator, in accordance with the laws of the State of California for agreements made in that State or as otherwise
required by ERISA. Any arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures. Judgment on the award may be entered in any court having jurisdiction. The prevailing party shall be entitled to recover
from the losing party its attorneys’ fees and costs incurred in any action brought to enforce any right arising out of this Plan. 

11. Amendment and Termination of the Plan. 

(a) Amendment. Prior to a Change of Control, the Company reserves the right to amend or terminate this Plan upon written notice to
Eligible Employees. Upon a Change of Control, this Plan will become non-modifiable without the consent of the affected Eligible Employee(s). 

(b) Plan Termination. Unless extended by the Board or the Compensation Committee of the Board, the Plan shall terminate on the third
anniversary of the Effective Date (the “Plan Termination Date”), provided that the Plan shall not terminate, and shall continue in full force and effect and not shall not be terminable by any action of the Company or a successor in
interest to the Company, in the event of the occurrence of a Change of Control on or before the Plan Termination Date. 
 12.
General. 
 (a) Administration. The Plan shall be administered by the Compensation Committee of the Board. The Compensation
Committee shall have the exclusive discretion and authority to establish rules, forms and procedures for the administration of the Plan, to construe and interpret the Plan, and to decide all questions of fact, interpretation, definition, computation
or administration arising in connection with the Plan, including, but not limited to, eligibility to participate in the Plan and the amount of benefits paid under the Plan. The rules, interpretations and other actions of the Compensation Committee
shall be binding and conclusive on all persons. All expenses incurred in connection with the administration of the Plan, including the claims procedures described in Section 9, shall be paid by the Company. 

  
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 (b) Unfunded Obligation. Any amounts payable to Eligible Employees pursuant to the Plan
are unfunded obligations. The Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial
ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Eligible Employee account shall not create or
constitute a trust or fiduciary relationship between the Board or the Company and an Eligible Employee, or otherwise create any vested or beneficial interest in any Eligible Employee or the Eligible Employee’s creditors in any assets of the
Company. 
 (c) No Duty to Mitigate; Obligations of Company. An Eligible Employee shall not be required to mitigate the amount of any
payment or benefit contemplated by this Plan by seeking employment with a new employer or otherwise, nor shall any such payment or benefit be reduced by any compensation or benefits that the Eligible Employee may receive from employment by another
employer. Except as otherwise provided by this Plan, the obligations of the Company to make payments to the Eligible Employee and to make the arrangements provided for herein are absolute and unconditional and may not be reduced by any
circumstances, including without limitation any set-off, counterclaim, recoupment, defense or other right which the Company may have against the Eligible Employee or any third party at any time. 

(d) Clawback. Without the consent of any Eligible Employee, the obligations of the Company to make a payment pursuant to this Plan
shall be subject to (a) the terms and conditions of a policy on the recoupment of incentive compensation as shall be adopted by the Company to implement the requirements of Section 954 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (the “Dodd-Frank Act”) or other mandate under law applicable to such payment, or (b) a determination by the Committee that an action with regard to such payment is appropriate after obtaining in connection with
an Involuntary Termination a stockholder advisory vote required by Section 951 of the Dodd-Frank Act, or any successor provision, on golden parachute compensation arrangements, provided that such payment is a subject of that advisory vote. 

(e) Notice. Notices and all other communications contemplated by this Plan shall be in writing and shall be deemed to have been duly
given either (i) when personally delivered or sent by facsimile or (ii) five (5) days after being mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of an Eligible Employee, mailed
notices shall be addressed to him or her at the home address or facsimile number which he or she most recently communicated to Employer in writing. In the case of Employer, mailed notices or notices sent by facsimile shall be addressed to its
corporate headquarters, and all notices shall be directed to the attention of its General Counsel or Chief Financial Officer. 
 (f)
Waiver. No waiver by the Eligible Employee or the Company of any breach of, or of any lack of compliance with, any condition or provision of this Plan by the other party shall be considered a waiver of any other condition or provision or of
the same condition or provision at another time. 

  
 13 

 (g) Choice of Law. The validity, interpretation, construction and performance of this Plan
shall be governed by the substantive laws of the State of California, without regard to its conflict of law provisions. 
 (h)
Validity. The invalidity or unenforceability of any provision of this Plan shall not affect the validity or enforceability of any other provision of this Plan, which shall remain in full force and effect. 

(i) Benefits Not Assignable. Except as otherwise provided herein or by law, no right or interest of any Eligible Employee under the
Plan shall be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including, without limitation, by execution, levy, garnishment, attachment, pledge or in any other manner, and no attempted transfer
or assignment thereof shall be effective. No right or interest of any Eligible Employee under the Plan shall be liable for, or subject to, any obligation or liability of such Eligible Employee. 

13. Execution. To record the adoption of the Plan as set forth herein, effective as of December 14, 2015, Viavi Solutions Inc. has
caused its duly authorized officer to execute the same. 
  

			
	Viavi Solutions Inc.
		
	By:	 	 /s/ Kevin Siebert

		
	Name:	 	 Kevin Siebert

		
	Title:	 	 Vice President, General Counsel and Secretary

  
 14 

 EXHIBIT A 

FORM OF 
 GENERAL RELEASE OF
CLAIMS 
 [Age 40 and over] 

 GENERAL RELEASE OF CLAIMS 

[Age 40 and over] 
 This
Agreement is by and between [Employee Name] (“Employee”) and [Viavi Solutions Inc. or Successor that agrees to assume the 2015 Change of Control Benefits Plan] (the “Company”). This Agreement will become
effective on the eighth (8th) day after it is signed by Employee (the “Effective Date”), provided that the Company has signed this Agreement and Employee has not revoked this Agreement (by written notice to [Company Contact
Name] at the Company) prior to that date. 
 RECITALS 

A. Employee was employed by the Company as of
                    ,             . 

B. Employee is an Eligible Employee described in the Viavi Solutions Inc. 2015 Change of Control Benefits Plan (the “Plan”),
wherein Employee is entitled to receive certain benefits in the event of an Involuntary Termination (as defined by the Plan), provided Employee signs and does not revoke a Release (as defined by the Plan). 

C. Employee’s employment has been terminated as a result of an Involuntary Termination (as defined by the Plan). Employee’s last day
of work and termination are effective as of                     ,             . Employee
desires to receive the payments and benefits provided by the Plan by executing this Release. 
 NOW, THEREFORE, the parties agree as
follows: 
 1. Commencing on the Effective Date, the Company shall provide Employee with the applicable payments and benefits set forth in
the Plan in accordance with the terms of the Plan. Employee acknowledges that the payments and benefits made pursuant to this paragraph are made in full satisfaction of the Company’s obligations under the Plan. Employee further acknowledges
that Employee has been paid all wages and accrued, unused vacation that Employee earned during his or her employment with the Company. 
 2.
Employee and Employee’s successors release the Company, its respective subsidiaries, stockholders, investors, directors, officers, employees, agents, attorneys, insurers, legal successors and assigns of and from any and all claims, actions and
causes of action, whether now known or unknown, which Employee now has, or at any other time had, or shall or may have against those released parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever directly
related to Employee’s employment by the Company or the termination of such employment and occurring or existing at any time up to and including the Effective Date, including, but not limited to, any claims of breach of written contract,
wrongful termination, retaliation, fraud, defamation, infliction of emotional distress, or national origin, race, age, sex, sexual orientation, disability or other discrimination or harassment under the Civil Rights Act of 1964, the Age
Discrimination In Employment Act of 1967, the Americans with Disabilities Act, the Fair Employment and Housing Act or any other applicable law. Notwithstanding the foregoing, this release shall not apply to any right of the Employee to receive the
applicable payments and benefits set forth in the Plan in accordance with the terms of the Plan. 

 3. Employee acknowledges that he or she has read Section 1542 of the Civil Code of the State
of California, which states in full: 
 A general release does not extend to claims which the creditor does not know or suspect to exist in
his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 

Employee waives any rights that Employee has or may have under Section 1542 and comparable or similar provisions of the laws of other states in the
United States to the full extent that he or she may lawfully waive such rights pertaining to this general release of claims, and affirms that Employee is releasing all known and unknown claims that he or she has or may have against the parties
listed above. 
 4. Employee and the Company acknowledge and agree that they shall continue to be bound by and comply with the terms and
obligations under the following agreements: (i) any proprietary rights or confidentiality agreements between the Company and Employee, (ii) the Plan, and (iii) any stock option, stock grant or other equity award agreements between the
Company and Employee. 
 5. This Agreement shall be binding upon, and shall inure to the benefit of, the parties and their respective
successors, assigns, heirs and personal representatives. 
 6. The parties agree that any and all disputes that both (i) arise out of
the Plan, the interpretation, validity or enforceability of the Plan or the alleged breach thereof and (ii) relate to the enforceability of this Agreement or the interpretation of the terms of this Agreement shall be subject to the provisions
of Section 9 and Section 10 of the Plan. 
 7. The parties agree that any and all disputes that (i) do not arise out of the
Plan, the interpretation, validity or enforceability of the Plan or the alleged breach thereof and (ii) relate to the enforceability of this Agreement, the interpretation of the terms of this Agreement or any of the matters herein released or
herein described shall be resolved by means of a court trial conducted by the superior or district court in Santa Clara County, California. The parties hereby irrevocably waive their respective rights to have any such disputes tried to a jury, and
the parties hereby agree that such courts will have personal and subject matter jurisdiction over all such disputes. Notwithstanding the foregoing, in the event of any such dispute, the parties may agree to mediate or arbitrate the dispute on such
terms and conditions as may be agreed in writing by the parties. The prevailing party shall be entitled to recover from the losing party its attorneys’ fees and costs incurred in any action brought to resolve any such dispute. 

8. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
negotiations and agreements, whether written or oral, with the exception of any agreements described in paragraph 4 of this Agreement. This Agreement may not be modified or amended except by a document signed by

  
 2 

 
an authorized officer of the Company and Employee. If any provision of this Agreement is deemed invalid, illegal or unenforceable, such provision shall be modified so as to make it valid, legal
and enforceable, and the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected. 

EMPLOYEE UNDERSTANDS THAT EMPLOYEE SHOULD CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT AND THAT EMPLOYEE IS GIVING UP ANY LEGAL CLAIMS EMPLOYEE
HAS AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS AGREEMENT. EMPLOYEE FURTHER UNDERSTANDS THAT EMPLOYEE MAY HAVE UP TO [21] [45] DAYS TO CONSIDER THIS AGREEMENT, THAT EMPLOYEE MAY REVOKE IT AT ANY TIME DURING THE 7 DAYS AFTER EMPLOYEE SIGNS IT,
AND THAT IT SHALL NOT BECOME EFFECTIVE UNTIL THAT 7-DAY PERIOD HAS PASSED. EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE COMPENSATION AND BENEFITS DESCRIBED IN
PARAGRAPH 1. 
  

									
	Dated:	 	  
	 		 	  

		 		 		 	[Employee Name]
				
		 		 		 	[Company]
					
	Dated:	 	  
	 		 	By:	 	  

  

  
 3 

 EXHIBIT B 

FORM OF 
 GENERAL RELEASE OF
CLAIMS 
 [Under age 40] 

 GENERAL RELEASE OF CLAIMS 

[Under age 40] 
 This
Agreement is by and between [Employee Name] (“Employee”) and [Viavi Solutions Inc. or Successor that agrees to assume the 2015 Change of Control Benefits Plan] (the “Company”). This Agreement is effective on
the day it is signed by Employee (the “Effective Date”). 
 RECITALS 

A. Employee was employed by the Company as of
                    ,             . 

B. Employee is an Eligible Employee described in the Viavi Solutions Inc. 2015 Change of Control Benefits Plan (the “Plan”),
wherein Employee is entitled to receive certain benefits in the event of an Involuntary Termination (as defined by the Plan), provided Employee signs a Release (as defined by the Plan). 

C. Employee’s employment has been terminated as a result of an Involuntary Termination (as defined by the Plan). Employee’s last day
of work and termination are effective as of                     ,             (the
“Termination Date”). Employee desires to receive the payments and benefits provided by the Plan by executing this Release. 

NOW, THEREFORE, the parties agree as follows: 

1. Commencing on the Effective Date, the Company shall provide Employee with the applicable payments and benefits set forth in the Plan in
accordance with the terms of the Plan. Employee acknowledges that the payments and benefits made pursuant to this paragraph are made in full satisfaction of the Company’s obligations under the Plan. Employee further acknowledges that Employee
has been paid all wages and accrued, unused vacation that Employee earned during his or her employment with the Company. 
 2. Employee and
Employee’s successors release the Company, its respective subsidiaries, stockholders, investors, directors, officers, employees, agents, attorneys, insurers, legal successors and assigns of and from any and all claims, actions and causes of
action, whether now known or unknown, which Employee now has, or at any other time had, or shall or may have against those released parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever directly related to
Employee’s employment by the Company or the termination of such employment and occurring or existing at any time up to and including the Termination Date, including, but not limited to, any claims of breach of written contract, wrongful
termination, retaliation, fraud, defamation, infliction of emotional distress, or national origin, race, age, sex, sexual orientation, disability or other discrimination or harassment under the Civil Rights Act of 1964, the Age Discrimination In
Employment Act of 1967, the Americans with Disabilities Act, the Fair Employment and Housing Act or any other applicable law. Notwithstanding the foregoing, this release shall not apply to any right of the Employee to receive the applicable payments
and benefits set forth in the Plan in accordance with the terms of the Plan. 

 3. Employee acknowledges that he or she has read Section 1542 of the Civil Code of the State
of California, which states in full: 
 A general release does not extend to claims which the creditor does not know or suspect to exist in
his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 

Employee waives any rights that Employee has or may have under Section 1542 and comparable or similar provisions of the laws of other states in the
United States to the full extent that he or she may lawfully waive such rights pertaining to this general release of claims, and affirms that Employee is releasing all known and unknown claims that he or she has or may have against the parties
listed above. 
 4. Employee and the Company acknowledge and agree that they shall continue to be bound by and comply with the terms and his
obligations under the following agreements: (i) any proprietary rights or confidentiality agreements between the Company and Employee, (ii) the Plan, and (iii) any stock option, stock grant or other equity award agreements between the
Company and Employee. 
 5. This Agreement shall be binding upon, and shall inure to the benefit of, the parties and their respective
successors, assigns, heirs and personal representatives. 
 6. The parties agree that any and all disputes that both (i) arise out of
the Plan, the interpretation, validity or enforceability of the Plan or the alleged breach thereof and (ii) relate to the enforceability of this Agreement or the interpretation of the terms of this Agreement shall be subject to Section 9
and Section 10 of the Plan. 
 7. The parties agree that any and all disputes that (i) do not arise out of the Plan, the
interpretation, validity or enforceability of the Plan or the alleged breach thereof and (ii) relate to the enforceability of this Agreement, the interpretation of the terms of this Agreement or any of the matters herein released or herein
described shall be resolved by means of a court trial conducted by the superior or district court in Santa Clara County, California. The parties hereby irrevocably waive their respective rights to have any such disputes tried to a jury, and the
parties hereby agree that such courts will have personal and subject matter jurisdiction over all such disputes. Notwithstanding the foregoing, in the event of any such dispute, the parties may agree to mediate or arbitrate the dispute on such terms
and conditions as may be agreed in writing by the parties. The prevailing party shall be entitled to recover from the losing party its attorneys’ fees and costs incurred in any action brought to resolve any such dispute. 

8. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
negotiations and agreements, whether written or oral, with the exception of any agreements described in paragraph 4 of this Agreement. This Agreement may not be modified or amended except by a document signed by an authorized officer of the
Company and Employee. If any provision of this Agreement is deemed invalid, illegal or unenforceable, such provision shall be modified so as to make it valid, legal and enforceable, and the validity, legality and enforceability of the remaining
provisions of this Agreement shall not in any way be affected. 

  
 2 

 EMPLOYEE UNDERSTANDS THAT EMPLOYEE SHOULD CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT AND THAT
EMPLOYEE IS GIVING UP ANY LEGAL CLAIMS EMPLOYEE HAS AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS AGREEMENT. EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE COMPENSATION AND
BENEFITS DESCRIBED IN PARAGRAPH 1. 
  

									
	Dated:	 	  
	 		 	  

		 		 		 	[Employee Name]
				
		 		 		 	[Company]
					
	Dated:	 	  
	 		 	By:	 	  

  
 3Exhibit

Exhibit 10.1

CHANGE OF CONTROL AGREEMENT

AGREEMENT by and between Eaton Corporation, an Ohio corporation (the “Company”) and [Name] (the “Executive”), dated as of the 16th day of December, 2015.

The Board of Directors of the Company (the “Board”) has determined that it is in the best interests of the Company and its shareholders to assure that the Company will have the continued dedication of the Executive, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company.  The Board believes it is imperative to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive's full attention and dedication to the Company currently and in the event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefits arrangements upon a Change of Control which ensure that the compensation and benefits expectations of the Executive will be satisfied and which are competitive with those of other corporations.  Therefore, in order to accomplish these objectives, the Board has caused the Company to enter into this Agreement.

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

1.Certain Definitions.

(a)    The “Effective Date” shall mean the first date during the Change of Control Period (as defined in Section 1(b)) on which a Change of Control (as defined in Section 2) occurs.  Anything in this Agreement to the contrary notwithstanding, if the Executive's employment with the Company is terminated within the six months prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or anticipation of a Change of Control (such a termination of employment, an “Anticipatory Termination”), then for all purposes of this Agreement the “Effective Date” shall mean the date immediately prior to the date of such termination of employment and the Executive shall be entitled to receive the payments and benefits provided hereunder to the same extent as if the Executive’s Date of Termination had occurred on the date of the Change of Control.

(b)    The “Change of Control Period” shall mean the period commencing on the date hereof and ending on the second anniversary of the date hereof; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary of such date (such date and each annual anniversary thereof shall be hereinafter referred to as the “Renewal Date”), unless previously terminated, the Change of Control Period shall be automatically extended so as to terminate two years from such Renewal Date, unless at least 60 days prior to the Renewal Date the Company shall give notice to the Executive that the Change of Control Period shall not be so extended.

2.Change of Control.  For the purpose of this Agreement, a “Change of Control” shall mean:  

(a)    The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 25% or more of either (i) the then outstanding common shares of the Company (the “Outstanding Company Common Shares”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control:  (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by a new parent entity if, following such acquisition, the shareholders of the Company holding the Outstanding Company Common Shares immediately prior to that acquisition own immediately after such acquisition the common equity interests of such parent entity in substantially the same proportions as they owned the Outstanding Company Common Shares, or (iv) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; or

(b)    Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company's shareholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

(c)    Consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of assets of another corporation (a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Shares and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 55% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company 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 Shares and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 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 (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

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

Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred as a result of any transaction or series of transactions which the Executive, or any entity in which the Executive is a partner, officer or more than 50% owner initiates, if immediately following the transaction or series of transactions that would otherwise constitute a Change of Control, the Executive, either alone or together with other individuals who are executive officers of the Company immediately prior thereto, beneficially owns, directly or indirectly, more than 10% of the then outstanding common shares of the Company or the corporation resulting from the transaction or series of transactions, as applicable, or of the combined voting power of the then outstanding voting securities of the Company or such resulting corporation.

3.Employment Period.  The Company hereby agrees to continue the Executive in its employ, and the Executive hereby agrees to remain in the employ of the Company subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the second anniversary of such date (the “Employment Period”).

4.Terms of Employment.

(a)    Position and Duties.  (i) During the Employment Period, (A) the Executive's position (including status, offices, titles and reporting requirements), authority, duties and responsibilities shall be at least commensurate in all material respects with the most significant of those held, exercised and assigned to the Executive at any time during the 120‐day period immediately preceding the Effective Date and (B) the Executive's services shall be performed at the location where the Executive was employed immediately preceding the Effective Date or any office or location less than 35 miles from such location (subject to travel requirements reasonably consistent with those prior to the Effective Date). 

(ii)    During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, to use the Executive's reasonable best efforts to perform faithfully and efficiently such responsibilities.  During the Employment Period it shall not be a violation of this Agreement for the Executive to (A) serve on corporate, civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions and (C) manage personal investments, so long as such activities do not materially interfere with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement.  It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior to the Effective Date, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date shall not thereafter be deemed to interfere with the performance of the Executive's responsibilities to the Company.

(b)    Compensation.

(i)    Base Salary.  During the Employment Period, the Executive shall receive an annual base salary (“Annual Base Salary”), which shall be paid in cash at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the twelve‐month period immediately preceding the month in which the Effective Date occurs.  During the Employment Period, the Annual Base Salary shall be increased no more than 12 months after the last salary increase awarded to the Executive prior to the Effective Date, and thereafter at least annually, in each case by a percentage not less than the average annual percentage merit increase in the Executive's base salary during 

the five (5) full calendar years (or such lesser number of years that the Executive has been employed by the Company and its affiliated companies) immediately preceding the Effective Date.  Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement.  Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased.  As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.

(ii)    Annual Bonus.  In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash in an amount (the “Annual Bonus Amount”) at least equal to the Executive's target bonus amount  (as defined in the Eaton Executive Incentive Plan, Senior Executive Incentive Plan, or any successor plan, as applicable (the “Applicable Incentive Plan”)) for the most recent year for which a target bonus amount was established before the Effective Date under the Applicable Incentive Plan, adjusted by the average of the Executive's individual performance rating for each of the three most recent years ended before the Effective Date, but eliminating any Corporate Performance Factor (as defined in the Applicable Incentive Plan).  Each such Annual Bonus shall be paid no later than March 15th of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus in accordance with the provisions of any applicable Eaton deferred compensation plan (a “Deferred Compensation Plan”).  

(iii)    Incentive, Savings and Retirement Plans.  During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other similarly-situated executives of the Company and its affiliated companies (including without limitation the Company's Deferred Compensation Plan, Limited Eaton Service Supplemental Retirement Income Plan, long-term Executive Strategic Incentive Plan and Supplemental and/or Excess Benefits Plans, as and to the extent those plans are in effect from time to time), but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120‐day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other similarly-situated executives of the Company and its affiliated companies.

(iv)    Welfare Benefit Plans.  During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, salary continuance, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other similarly-situated executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other similarly-situated executives of the Company and its affiliated companies.

(v)    Expenses.  During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive in accordance with the most favorable policies, practices and procedures of the Company and its affiliated companies in effect for the Executive at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other similarly-situated executives of the Company and its affiliated companies.

(vi)    Fringe Benefits.  During the Employment Period, the Executive shall be entitled to fringe benefits, including, without limitation, tax and financial planning services, payment of club dues, and, if applicable, use of an automobile and payment of related expenses, in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other similarly-situated executives of the Company and its affiliated companies.

(vi)    Office and Support Staff.  During the Employment Period, the Executive shall be entitled to an office or offices of a size and with furnishings and other appointments, and to exclusive personal secretarial and other assistance, at least equal to the most favorable of the foregoing provided to the Executive by the Company and its affiliated companies at any time during the 120 day period immediately preceding the Effective Date or, if more favorable to the Executive, as provided generally at any time thereafter with respect to other similarly-situated executives of the Company and its affiliated companies.

(viii)    Vacation.  During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other similarly-situated executives of the Company and its affiliated companies.

(ix)    Clawback Policy.  All compensation payable under this Agreement shall remain subject to the provisions of the Company’s Policy on Incentive Compensation, Stock Options and Other Equity Grants upon the Restatement of Financial Results (the “Clawback Policy”) in effect as of the Effective Date. 

5.Termination of Employment.

(a)    Death or Disability.  The Executive's employment shall terminate automatically upon the Executive's death during the Employment Period.  If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to the Executive written notice in accordance with Section 14(b) of this Agreement of its intention to terminate the Executive's employment.  In such event, the Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, the Executive shall not have returned to full‐time performance of the Executive's duties.  For purposes of this Agreement, “Disability” shall mean the absence of the Executive from the Executive's duties with the Company on a full‐time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive's legal representative.

(b)    Cause.  The Company may terminate the Executive's employment during the Employment Period for Cause.  For purposes of this Agreement, “Cause” shall mean:

(i)    the willful and continued failure of the Executive to perform substantially the Executive's duties with the Company or one of its affiliates (other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Executive by the Board or the Chief Executive Officer of the Company which specifically identifies the manner in which the Board or Chief Executive Officer believes that the Executive has not substantially performed the Executive's duties, or

(ii)    the Executive being convicted of a felony involving dishonesty, or the willful engaging by the Executive in gross misconduct which is materially and demonstrably injurious to the Company.

For purposes of this provision, no act or failure to act, on the part of the Executive, shall be considered “willful” unless it is done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive's action or omission was in the best interests of the Company.  Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or upon the instructions of the Chief Executive Officer or a senior officer of the Company or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company.  The cessation of employment of the Executive shall not be deemed to be for Cause unless and until there shall have been delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-quarters of the entire membership of the Board at a meeting of the Board called and held for such purpose (after reasonable notice is provided to the Executive and the Executive is given an opportunity, together with counsel, to be heard before the Board), finding that, in the good faith opinion of the Board, the Executive is guilty of the conduct described in subparagraph (i) or (ii) above, and specifying the particulars thereof in detail.  

(c)    Good Reason.  The Executive's employment may be terminated by the Executive for Good Reason.  For purposes of this Agreement, “Good Reason” shall mean:

(i)    the assignment to the Executive of any duties inconsistent in any respect with the Executive's position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 4(a) of this Agreement, or any other action by the Company which results in a diminution in such position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive;  

(ii)    any failure by the Company to comply with any of the provisions of Section 4(b) of this Agreement, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive;

(iii)    the Company's requiring the Executive to be based at any office or location other than as provided in Section 4(a)(i)(B) hereof or the Company's requiring the Executive to travel on Company business to a substantially greater extent than required immediately prior to the Effective Date; or

(iv)    any purported termination by the Company of the Executive's employment otherwise than as expressly permitted by this Agreement.

For purposes of this Section 5(c), any good faith determination of “Good Reason” made by the Executive shall be conclusive. 

(d)    Notice of Termination.  Any termination by the Company for Cause, or by the Executive for Good Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 14(b) of this Agreement.  For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice).  The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive's or the Company's rights hereunder.

(e)    Date of Termination.  “Date of Termination” means (i) if the Executive's employment is terminated by the Company for Cause, or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein, as the case may be, (ii) if the Executive's employment is terminated by the Company other than for Cause or Disability, the date on which the Company notifies the Executive of such termination and (iii) if the Executive's employment is terminated by reason of death or Disability, the date of death of the Executive or the Disability Effective Date, as the case may be.  The Company and the Executive shall take all steps necessary (including with regard to any post-termination services by the Executive) to ensure that any termination described in this Section 5 constitutes a “separation from service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and notwithstanding anything contained herein to the contrary, the date on which such separation from service takes place shall be the “Date of Termination.”

6.Obligations of the Company upon Termination.

(a)    Good Reason; Other Than for Cause, Death or Disability.  If, during the Employment Period, the Company shall terminate the Executive's employment other than for Cause or Disability or the Executive shall terminate employment for Good Reason:

(i)    except as otherwise provided in this Section 6(a), the Company shall pay to the Executive in a lump sum in cash within 30 days after the Date of Termination the aggregate of the following amounts:  

A.    the sum of (1) the Executive's Annual Base Salary through the Date of Termination, to the extent not theretofore paid to the Executive, (2) the amount, if any, which has been earned by the Executive with respect to any completed Incentive Year under the Eaton Incentive Compensation Plan or any successor thereto, and any completed Award Period under the Eaton Executive Strategic Incentive Plan or any successor thereto, in each case to the extent not theretofore paid to the Executive, and (3) with respect to each Award Period under the Eaton 

Executive Strategic Incentive Plan or any successor thereto which begins before January 1, 2015 and ends after the Date of Termination, an amount equal to (x) 100% of the Executive's Individual Incentive Target (as defined in such plan) for such Award Period (but in no event less than such Individual Incentive Target for the fiscal year that includes the Effective Date) times (y) a fraction, the numerator of which is the number of days in such Award Period before the Date of Termination, and the denominator of which is the total number of days in such Award Period (and, with respect to each Award Period under the Eaton Executive Strategic Incentive Plan or any successor thereto which begins on or after January 1, 2015 and ends after the Date of Termination, the amount determined pursuant to the applicable award agreement) (the amount described in clause (3), the “Pro-Rata Bonus,” and the sum of the amounts described in clauses (1), (2) and (3) shall be hereinafter referred to as the “Accrued Obligations”); and

B.    the product of (1) three and (2) the sum of (x) the Executive's Annual Base Salary and (y) the Annual Bonus Amount;

(ii)    for three years after the Executive's Date of Termination, or such longer period as may be provided by the terms of the appropriate plan, program, practice or policy, the Company shall continue benefits to the Executive and/or the Executive's family at least equal to those which would have been provided to them in accordance with the plans, programs, practices and policies described in Section 4(b)(iv) of this Agreement if the Executive's employment had not been terminated or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other similarly-situated executives of the Company and its affiliated companies and their families, provided, however, that if the Executive becomes re-employed with another employer and is eligible to receive medical or other welfare benefits under another employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility, and for purposes of determining eligibility (but not the time of commencement of benefits) of the Executive for retiree benefits pursuant to such plans, practices, programs and policies, the Executive shall be considered to have remained employed for three years after the Date of Termination and to have retired on the last day of such period, and for purposes of any reimbursement of eligible expenses to the Executive and/or the Executive’s family under the plans, programs, practices and policies described in Section 4(b)(iv) of this Agreement incurred following the first eighteen months of continuation coverage under this Section 6(a)(ii), such reimbursement shall be made on or before the last day of the Executive’s taxable year following the taxable year in which the expense was incurred (the amount of continued coverage and benefits that the Company is obligated to provide pursuant to this paragraph in any given calendar year shall not affect the amount of continued coverage and benefits that the Company is obligated to provide in any other calendar year, and the Executive's right to have the Company provide such continued coverage and benefits may not be liquidated or exchanged for any other benefit); provided, further, that to the extent it is impossible or impracticable to provide  a specific employee benefit, the Company shall pay the Executive a cash amount equal to the Company cost of providing such benefit for similarly-situated active employees, payable at the same times as the costs for providing such benefits would have been incurred;  

(iii)    to the extent not theretofore paid or provided, the Company shall timely pay or provide to the Executive any other amounts or benefits required to be paid or provided or which the Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company and its affiliated companies (such other amounts and benefits shall be hereinafter referred to as the “Other Benefits”); provided, however that to the extent that any Other Benefits are deferred compensation within the meaning of Section 409A of the Code and the Treasury Regulations promulgated 

thereunder and subject to the requirements of Section 409A of the Code, such Other Benefits shall not be paid or provided before the first business day that is six months after the Date of Termination. 
Notwithstanding the foregoing, the Company shall pay to the Executive the amounts described in (A)(3) and (B) in a lump sum in cash on the first business day that is six months after the Date of Termination to the extent required by Section 409A of the Code.

(b)    Death.  If the Executive's employment is terminated by reason of the Executive's death during the Employment Period, this Agreement shall terminate without further obligations to the Executive's legal representatives under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.  Accrued Obligations shall be paid to the Executive's estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination.  With respect to the provision of Other Benefits, the term Other Benefits as utilized in this Section 6(b) shall include, without limitation, and the Executive's estate and/or beneficiaries shall be entitled to receive, benefits at least equal to the most favorable benefits provided by the Company and affiliated companies to the estates and beneficiaries of similarly-situated executives of the Company and such affiliated companies under such plans, programs, practices and policies relating to death benefits, if any, as in effect with respect to other similarly-situated executives and their beneficiaries at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive's estate and/or the Executive's beneficiaries, as in effect on the date of the Executive's death with respect to other similarly-situated executives of the Company and its affiliated companies and their beneficiaries.

(c)    Disability.  If the Executive's employment is terminated by reason of the Executive's Disability during the Employment Period, this Agreement shall terminate without further obligations to the Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.  Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination; provided, however, that the Pro-Rata Bonus shall be paid on the first business day that is six months after the Date of Termination.  With respect to the provision of Other Benefits, the term Other Benefits as utilized in this Section 6(c) shall include, and the Executive shall be entitled after the Disability Effective Date to receive, disability and other benefits at least equal to the most favorable of those generally provided by the Company and its affiliated companies to disabled executives and/or their families in accordance with such plans, programs, practices and policies relating to disability, if any, as in effect generally with respect to other similarly-situated executives and their families at any time during the 120‐day period immediately preceding the Effective Date or, if more favorable to the Executive and/or the Executive's family, as in effect at any time thereafter generally with respect to other similarly-situated executives of the Company and its affiliated companies and their families; provided, however that to the extent that any Other Benefits are deferred compensation within the meaning of Section 409A of the Code and the Treasury Regulations promulgated thereunder and subject to the requirements of Section 409A of the Code, such Other Benefits shall not be paid or provided before the first business day that is six months after the Date of Termination. 

(d)    Cause; Other than for Good Reason.  If the Executive's employment shall be terminated for Cause during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive (x) the Annual Base Salary through the Date of Termination and (y) Other Benefits, in each case to the extent theretofore unpaid.  If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, this Agreement shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits.  In such case, all Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days after the Date of 

Termination, provided, however, that  the Pro-Rata Bonus will be paid to the Executive on the first business day that is six months after the Date of Termination.  Notwithstanding the foregoing, to the extent that any Other Benefits required to paid pursuant to this Section 6(d) are deferred compensation within the meaning of Section 409A of the Code and the Treasury Regulations promulgated thereunder and subject to the requirements of Section 409A of the Code,  such Other Benefits shall not be paid or provided before the first business day that is six months after the Date of Termination.
 
7.Termination of Agreement in Connection With Change of Control.  In the event of a change of control as defined in Section 1.409A-3(i)(5) of the Treasury Regulations (for purposes of this Section 7 only, a “Change of Control Event”), the Board shall have the authority, in its sole discretion, to terminate the Agreement pursuant to an irrevocable action taken by the Board within the 30 days preceding the Change of Control Event, provided that this Section 7 will only apply to a payment under the Agreement if all agreements, methods, programs, and other arrangements sponsored by the service recipient immediately after the time of the Change of Control Event with respect to which deferrals of compensation are treated as having been deferred under a single plan within the meaning of Section 1.409A-1(c)(2) of the Treasury Regulations are terminated and liquidated with respect to the Executive, so that under the terms of the termination and liquidation the Executive is required to receive all amounts of compensation deferred under the terminated agreements, methods, programs, and other arrangements within 12 months of the date the Board irrevocably takes all necessary action to terminate and liquidate the agreements, methods, programs and other arrangements.  Solely for purposes of this Section, where the Change of Control Event results from an asset purchase transaction, the service recipient with the discretion to liquidate and terminate the agreements, methods, programs and other arrangements is the service recipient that is primarily liable immediately after the transaction for the payment of the deferred compensation.  If the Agreement is terminated pursuant to this Section 7, the Company shall pay to the Executive in a lump sum in cash within 12 months of the date the Board irrevocably takes all necessary action to terminate and liquidate the agreements, methods, programs and other arrangements, the amount that would have been payable to the Executive if during the Employment Period the Company had terminated the Executive’s employment other than for Cause or Disability or if the Executive had terminated his employment for Good Reason in accordance with Section 6(a) of this Agreement. 

8.Non‐exclusivity of Rights.  Nothing in this Agreement shall prevent or limit the Executive's continuing or future participation in any plan, program, policy or practice provided by the Company or any of its affiliated companies and for which the Executive may qualify, nor, subject to the last sentence of this Section 8 and to Section 14(f), shall anything herein limit or otherwise affect such rights as the Executive may have under any contract or agreement with the Company or any of its affiliated companies.  Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with the Company or any of its affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this Agreement.  Notwithstanding the foregoing, if the Executive becomes entitled to receive severance benefits under Section 6(a) hereof, such severance benefits shall be in lieu of any benefits under any severance or separation plan, program or policy of the Company or any of its affiliated companies to which the Executive would otherwise have been entitled.

9.Full Settlement; Legal Fees.  The Company's obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set‐off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others.  In no event shall the Executive be obligated to seek other 

employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and except as specifically provided in Section 6(a)(ii), such amounts shall not be reduced whether or not the Executive obtains other employment.  The Company agrees to pay as incurred, at any time from the Effective Date through the Executive's remaining lifetime (or, if longer, through the 20th anniversary of the Effective Date), to the full extent permitted by law, all legal fees and expenses which the Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (whether such contest is between the Company and the Executive or between either of them and any third party, and including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code.  In order to comply with Section 409A of the Code, in no event shall the payments by the Company under this Section 9 be made later than the end of the calendar year next following the calendar year in which such fees and expenses were incurred, provided that the Executive shall have submitted an invoice for such fees and expenses at least 10 days before the end of the calendar year next following the calendar year in which such fees and expenses were incurred.  The amount of such legal fees and expenses that the Company is obligated to pay in any given calendar year shall not affect the legal fees and expenses that the Company is obligated to pay in any other calendar year, and the Executive's right to have the Company pay such legal fees and expenses may not be liquidated or exchanged for any other benefit.

10.Confidential Information.  The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive's employment by the Company or any of its affiliated companies and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement).  After termination of the Executive's employment with the Company, the Executive shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it.  In no event shall an asserted violation of the provisions of this Section 10 constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this Agreement.

11.Executive Covenants.

(a)    Noncompete/Nonsolicit.  During the Executive’s employment with the Company during the Change of Control Period and for one (1) year following the Date of Termination if the Date of Termination occurs during the Change of Control Period, the Executive shall not, directly or indirectly (whether as owner, partner, officer, director, employee, consultant, investor, lender or otherwise, except as the holder of not more than 5% of the outstanding stock of a publicly-held company):

		
	(i)
	provide services to any corporation or other entity, regardless of form, that is engaged in any business or enterprise that is the same as, or substantially the same as, the business of the Company for that part of the enterprise in which Executive has directly worked or had significant, direct exposure during Executive’s employment with the Company in the two (2) year period preceding the Date of Termination; or

		
	(ii)
	directly or indirectly solicit for employment, hire, or work as an independent contractor, any person or entity who is an employee or service provider of the Company or its affiliates or was employed or engaged by the Company or its affiliates to provide services (whether as an independent representative, consultant, agent or employee) in the 12 months prior to the Date of Termination; provided, however, a broadly published recruitment advertisement that is not directed at any of the foregoing individuals shall not by itself be deemed a violation of this Section 11(a)(ii); or

		
	(iii)
	divert or attempt to divert from the Company or its affiliates any business with any customer, partner or other person with which the Company or its affiliates had any material business contact or association during the Executive’s employment with the Company, or induce or attempt to induce any customer, partner or other person with which the Company or its affiliates had any material business contact or association to reduce or refrain from doing business with the Company or its affiliates.

(b)    Enforceability. If any restriction or provision set forth in Section 11(a) is found by any court of competent jurisdiction to be unenforceable because it is excessively broad, extends for too long a period of time, or covers too great a range of activities or too broad a geographic area, the parties agree that such restriction or provision shall be construed and interpreted to extend only over the maximum period of time, range of activities, or geographic area which is found by such court to be enforceable.

(c)    Remedies; Injunctive Relief.  The parties acknowledge and agree that restrictions contained in Section 11(a) are necessary for the protection of the business and goodwill of the Company and are considered by the Executive to be reasonable for such purpose. The Executive agrees that any breach of Section 11(a) may cause the Company substantial and irrevocable damage that is difficult to measure. Therefore, if there is any such breach or threatened breach, the Executive agrees that the Company, in addition to such other remedies which may be available, shall have the right to seek an injunction from a court restraining such a breach or threatened breach and the right to specific performance of the provisions of this Agreement and the Executive hereby waives the adequacy of a remedy at law as a defense to such relief
.
12.Successors.  (a)  This Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by the Executive's legal representatives.

(b)    This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

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

13.“Golden Parachute” Excise Tax.

(a)    In the event the Executive becomes entitled to receive payments and benefits hereunder or otherwise and such payments and benefits (the “Total Payments”) will be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall compute the “Net After-Tax Amount,” and the “Reduced Amount,” and shall adjust the Total Payments as described below.  The Net After-Tax Amount shall mean the present value of all amounts payable to Executive hereunder, net of all federal income, excise and employment taxes imposed on Executive by reason of such payments.  The Reduced Amount shall mean the largest aggregate amount of the Total Payments that if paid to Executive would result in Executive receiving a Net After-Tax Amount that is equal to or greater than the Net After-Tax Amount that Executive would have received if the Total Payments had been made.  If the Company determines that there is a Reduced Amount, the Total Payments will be reduced to the Reduced Amount.  Such reduction to the Total Payments shall, to the extent permitted by Section 280G and Section 409A, be in the order specified by the Executive or, if not specified or can’t be specified, be made by first reducing or eliminating any cash severance benefits, then by reducing or eliminating any accelerated vesting of equity awards in the manner that results in the largest amount being paid to Executive and then by reducing or eliminating any other remaining Total Payments, in each case in reverse order beginning with the payments which are to be paid the farthest in time from the date of the transaction triggering the Excise Tax. 

(b)    For purposes of determining whether the Total Payments will be subject to the Excise Tax and the amounts of such Excise Tax and for purposes of determining the Reduced Amount and the Net After-Tax Amount:  (i) any other payments or benefits received or to be received by Executive in connection with a Change of Control or Executive’s termination of employment (whether pursuant to the terms of this Agreement or any other plan, arrangement, or agreement with the Company, or with any individual, entity, or group of individuals or entities whose actions result in a Change of Control or any Person affiliated with the Company or such Persons) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “excess parachute payments” within the meaning of Section 280G(b)(1) of the Code shall be treated as subject to the Excise Tax, unless in the opinion of a tax advisor reasonably selected by the Company  (“Tax Counsel”), such other payments or benefits (in whole or in part) should be treated by the courts as representing reasonable compensation for services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code), or otherwise not subject to the Excise Tax; (ii) the amount of the Total Payments that shall be treated as subject to the Excise Tax shall be equal to the lesser of (A) the total amount of the Total Payments; or (B) the amount of excess parachute payments within the meaning of Section 280G(b)(1) of the Code (after applying clause (a) above); (iii) in the event that Executive disputes any calculation or determination made by the Company, the matter shall be determined by Tax Counsel, the fees and expenses of which shall be borne solely by the Company; and (iv) Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Change of Control occurs, and state and local income taxes at the highest marginal rate of taxation in the state and locality of Executive’s residence on the effective date of the Change of Control, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes, taking into account the reduction in itemized deduction under Section 68 of the Code.
 
14.Miscellaneous.

(a)    This Agreement shall be governed by and construed in accordance with the laws of the State of Ohio, without reference to principles of conflict of laws.  The captions of this Agreement are not part of the provisions hereof and shall have no force or effect.  This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.

(b)    All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

If to the Executive:
[Name]
Eaton  
Eaton Center
1000 Eaton Boulevard
Cleveland, Ohio  44122
                
If to the Company:
Eaton 
Eaton Center
1000 Eaton Boulevard
Cleveland, Ohio  44122
Attention:  Office of the General Counsel

or to such other address as either party shall have furnished to the other in writing in accordance herewith.  Notice and communications shall be effective when actually received by the addressee.

(c)    The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.

(d)    The Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.

(e)    The Executive's or the Company's failure to insist upon strict compliance with any provision hereof or any other provision of this Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason pursuant to Section 5(c)(i)‐(iv) of this Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement.

(f)    The Executive and the Company acknowledge that, except as may otherwise be provided under any other written agreement between the Executive and the Company, the employment of the Executive by the Company is “at will” and, prior to the Effective Date, the Executive's employment may be terminated by either the Executive or the Company at any time prior to the Effective Date, in which case the Executive shall have no further rights under this Agreement.  In addition, this Agreement shall automatically and immediately terminate upon any transfer of the Executive’s employment, prior to the Effective Date, to any position with the Company as to which Change of Control Agreements, in the form of this Agreement, have not been made available by action of the Board and, in the event of such 

transfer of employment, the Executive shall have no further rights under this Agreement.  From and after the Effective Date this Agreement shall supersede any other agreement between the parties with respect to the subject matter hereof.

(g)    Notwithstanding any provision in this Agreement to the contrary, in the event of an Anticipatory Termination, any payments that are deferred compensation within the meaning of Section 409A of the Code that the Company shall be required to pay or provide pursuant to Section 6(a) of this Agreement shall be paid or commence being provided no earlier than the first business day that is six months after the date of the Anticipatory Termination.  In the event of an Anticipatory Termination, any payments or benefits that are not deferred compensation within the meaning of Section 409A of the Code that the Company shall be required to pay or provide pursuant to Section 6(a) of this Agreement shall be paid or shall commence being provided on the date of the Change of Control.   

(h)    Within the time period permitted by the applicable governmental regulations, the Company may, in consultation with the Executive, modify this Agreement, in the least restrictive manner necessary and without any diminution in the value of the payments to the Executive, in order to cause the provisions of the Agreement to comply with the requirements of Section 409A of the Code, so as to avoid the imposition of taxes and penalties on the Executive pursuant to Section 409A of the Code.
        
(i)    Notwithstanding any other provision of this Agreement to the contrary, any payment required to be made or commence pursuant to this Agreement to a “specified employee” within the meaning of Section 409A of the Code (as determined in accordance with the methodology established by the Company as in effect on the Date of Termination) that is deferred compensation within the meaning of Section 409A of the Code and the Treasury Regulations promulgated thereunder and subject to the requirements of Section 409A of the Code shall not be made or commence prior to the date that is six months following the Date of Termination.

(j)    To the extent that the reimbursement of any expenses or the provision of any in-kind benefits pursuant to this Agreement is subject to Section 409A of the Code, (i) the amount of such expenses eligible for reimbursement, or in-kind benefits to be provided hereunder during any one calendar year shall not affect the amount of such expenses eligible for reimbursement or in-kind benefits to be provided hereunder in any other calendar year; provided, however, that the foregoing shall not apply to any limit on the amount of any expenses incurred by the Executive that may be reimbursed or paid under the terms of the Company’s medical plan, if such limit is imposed on all similarly situated participants in such plan; (ii) all such expenses eligible for reimbursement hereunder shall be paid to the Executive as soon as administratively practicable after any documentation required for reimbursement for such expenses has been submitted, but in any event by no later than December 31 of the calendar year following the calendar year in which such expenses were incurred; and (iii) the Executive’s right to receive any such reimbursements or in-kind benefits shall not be subject to liquidation or exchange for any other benefit. 

IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand and, pursuant to the authorization from its Board of Directors, the Company has caused this Agreement to be executed in its name on its behalf, all as of the day and year first above written.

_____________________________________
[Name]

EATON CORPORATION 

By _____________________________________
      M. M. McGuire
      Executive Vice President and General Counsel

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}]]