Document:

Exhibit 10.4

 

Execution
Version

 

INTELLECTUAL
PROPERTY MATTERS AGREEMENT

 

This
INTELLECTUAL PROPERTY MATTERS AGREEMENT (this “Agreement”) is entered into as of February 15, 2021 (the
 “Execution Date”), by and among Rexnord Corporation, a Delaware corporation (“Remainco”),
Land Newco, Inc., a Delaware corporation and wholly owned indirect Subsidiary of Remainco (“Spinco”), and Regal
Beloit Corporation, a Wisconsin corporation (“RMT Partner”), and, with the exception of Section 2(a)(iv) and
Section 3(a) with respect to RBS, and with the exception of Section 2(c), will be effective as of the Separation Effective Time
and is contingent on Closing (“Effective Date”).

 

WHEREAS,
the Parties have entered into a Separation and Distribution Agreement dated as of February 15, 2021, by and between the Parties
and the other parties listed on the signature pages therein (the “Separation Agreement”);

 

WHEREAS,
Remainco, Spinco, RMT Partner and Merger Sub have entered into an Agreement and Plan of Merger dated as of February 15, 2021 (the
 “Merger Agreement”) under which Merger Sub will merge with and into Spinco immediately following the Distribution,
on the terms and subject to the conditions set forth in the Merger Agreement;

 

Whereas,
under the terms of the Separation Agreement, the Spinco Intellectual Property (defined below) has been allocated to Spinco and
the Remainco Retained IP (defined below) has been allocated to Remainco;

 

Whereas,
the Parties wish to effectuate the assignment of the Spinco Intellectual Property and other Intellectual Property (defined below),
and to record the transfers of any registrations or applications thereof, as applicable, to the extent the ownership thereof has
transferred from a member of the Remainco Group to a member of the Spinco Group, or vice versa, pursuant to this Agreement; and

 

Whereas,
it is the intent of the Parties that Remainco license certain Intellectual Property to Spinco and that Spinco license certain
Intellectual Property to Remainco, in each case subject to the terms and conditions hereof.

 

Now,
Therefore, in consideration of the foregoing
and the covenants and agreements contained herein, and intending to be legally bound hereby, the Parties agree as follows:

 

1.            Definitions. As used in this Agreement, the following terms shall have the respective meanings set forth below. Capitalized
terms used, but not defined, in this Agreement shall have the meanings ascribed to such terms in the Separation Agreement, Merger
Agreement or any other Ancillary Agreement.

 

(a)         “DiRXN” shall mean the digital enterprise initiative in existence as of the Separation Effective Time
which is commonly referred to within the Spinco Business as “DiRXN”, which is a digital productivity platform based
on the integration of Industrial Internet of Things (IIoT) and e-commerce technologies, including tools, products and services,
and related data, documentation, and other materials for connecting customers to data and information that allows them to optimize
productivity across all stages of their life cycles. The DiRXN digital enterprise initiative includes “smart tags”,
sensors and related Software that permit digital support for products and real-time monitoring of product performance.

 

     

     

    

 

(b)         “DiRXN Assigned IP” shall mean all Intellectual Property related to DiRXN that is owned or licensed by any
member of the Remainco Group that is not used exclusively in the Remainco Business.

 

(c)         “DiRXN Assigned Marks” shall mean all Trademarks that are owned by any member of the Remainco Group that include
the word “DiRXN,” either alone or in combination with other words, letters, phrases or symbols, any abbreviation thereof
or in combination with any logos, designs or stylizations.

 

(d)         “DiRXN Marks” shall mean all Trademarks that are owned by the Spinco Group immediately prior to the Separation
Effective Time that include the word “DiRXN,” either alone or in combination with other words, letters, phrases or
symbols, any abbreviation thereof or in combination with any logos, designs or stylizations.

 

(e)         “DiRXN-related Remainco IP” shall mean all Intellectual Property related to DiRXN and used exclusively in businesses
operated by the Remainco Group prior to the Separation Effective Time excluding any DiRXN Assigned Marks.

 

(f)          “Intellectual Property” shall mean all U.S. and foreign intellectual property and intellectual property and
rights analogous thereto of any kind or nature, including all: (i) trademarks, trade dress, service marks, certification marks,
logos, slogans, design rights, names, brand names, corporate names, trade names, internet domain names, social media accounts/handles
and addresses and other similar designations of source or origin, together with the goodwill associated with the use of and symbolized
by any of the foregoing (collectively, “Trademarks”); (ii) patents and patent applications, industrial
property rights, and any and all related national or international counterparts thereto, including any renewals, divisionals,
continuations, continuations-in-part, reissues, reexaminations, substitutions, and extensions thereof (collectively, “Patents”);
(iii) copyrights, copyrightable subject matter, and works of authorship, whether copyrightable or not (collectively, “Copyrights”);
(iv) trade secrets, and all other confidential or proprietary information, know-how, inventions (whether or not patentable),
discoveries, improvements, processes, formulae (including product formulations), data, models, methodologies, inventor’s
notes, specifications, designs, plans, proposals and technical data, business and marketing plans, market know-how and customer
lists and information (collectively, “Know-How”); (v) computer programs, operating systems, applications,
firmware, and other code, including all source code, object code, application programming interfaces, data files, databases, protocols,
specifications, and other documentation thereof (collectively, “Software”); (vi) applications and registrations
for the foregoing; (vii) rights, titles and interests in or relating to any of the foregoing, whether protected, created
or arising under the laws of the U.S. or any foreign jurisdiction; (viii) royalties, fees, income, payments, and other proceeds
now or hereafter due or payable with respect to any of the foregoing; and (ix) claims, causes of action, and remedies including
claims for damages, restitution, and injunctive or other legal or equitable relief against past, present, and future infringement,
misappropriation, or other violation relating to any of the foregoing.

 

(g)         “Party” shall mean any one of the parties hereto, and Parties shall mean all of the parties hereto.

 

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(h)         “Proprietary Information” shall mean information, content, and data in written, oral, electronic, computerized,
digital or other tangible or intangible media, including (i) books and records, whether accounting, legal or otherwise, ledgers,
studies, reports, surveys, designs, specifications, drawings, blueprints, diagrams, models, prototypes, samples, flow charts,
marketing plans, personal information of customers (including prospects), including customer names and contact information, and
employee files and information, technical information relating to the design, operation, testing, test results, development, and
manufacture of any Party’s or its Group’s product or facilities (including product or facility specifications and
documentation); engineering, design, and manufacturing drawings, diagrams, layouts, maps and illustrations; formulations
and material specifications; laboratory studies and benchmark tests; quality assurance policies, procedures and specifications;
evaluation and/validation studies; process control and/or shop-floor control strategy, logic or algorithms; databases;
product costs, margins and pricing; as well as product marketing studies and strategies; all other methodologies, procedures,
techniques, research, engineering, development and manufacturing; communications, correspondence, materials, product literature,
artwork, files and documents; and (ii) financial and business information, including earnings reports and forecasts, macro-economic
reports and forecasts, all cost information (including supplier records and lists), sales and pricing data, business plans, market
evaluations, surveys, credit-related information, and other such information as may be needed for reasonable compliance with reporting,
disclosure, filing or other requirements, including under applicable securities laws or regulations of securities exchanges.

 

(i)          “RBS” shall mean the Proprietary Information, Intellectual Property, and other materials commonly known within
the Business as “Rexnord Business System” in existence as of the Separation Effective Time, which includes a set of
proprietary tools, processes, methodologies, practices and concepts (including the 80/20 concept), and related training materials
and videos that are designed to continuously improve business management and performance in the critical areas of quality, delivery,
cost, innovation and growth.

 

(j)          “Remainco Retained IP” shall have the meaning in the Separation Agreement.

 

(k)         “Rexnord Domain Names” shall mean all internet domain names that contain “rexnord” or any variation
or abbreviation thereof and any internet domain names confusingly similar thereto, including those set forth on Schedule A.

 

(l)          “Rexnord Marks” shall mean all Trademarks that are owned by the Remainco Group or Spinco Group as of immediately
prior to the Separation Effective Time that include the word “REXNORD,” either alone or in combination with other
words, letters, phrases or symbols, any abbreviations thereof, or in combination with any logos, designs or stylizations and any
Trademarks confusingly similar thereto.

 

(m)        “Shared Third-Party Software” shall mean Software that is owned by a third party and that is licensed to a
member of the Spinco Group or a member of the Remainco Group and that is used in both the Spinco Business and in businesses operated
by the Remainco Group.

 

(n)         “Specified Rexnord Domains” shall mean rexnordcorporation.com, rexnordcorp.com and rexnordcorp.us.

 

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(o)         “Spinco Assigned IP” shall mean all Intellectual Property that is owned by Remainco or another member of the
Remainco Group as of Separation Effective Time to the extent related to the Spinco Business, including the DiRXN Assigned IP,
the DiRXN Assigned Marks, and that which is set forth on Schedule B.

 

(p)         “Spinco Copyrights” shall mean all Copyrights to the extent related to the Spinco Business, including the Copyrights
set forth on Schedule 1.1(131)(viii) to the Separation Agreement.

 

(q)         “Spinco Domain Names” shall mean the internet domain names set forth on Schedule 1.1(131)(viii) to the Separation
Agreement.

 

(r)          “Spinco Held IP” shall mean all Intellectual Property that is owned by a member of the Spinco Group as of Separation
Effective Time to the extent related to the Spinco Business.

 

(s)         “Spinco Intellectual Property” shall mean the Spinco Copyrights, Spinco Domain Names, Spinco Know-How, Spinco
Patents, Spinco Trademarks, and all other Intellectual Property to the extent related to the Spinco Business. For the avoidance
of doubt, Spinco Intellectual Property includes both Spinco Held IP and Spinco Assigned IP.

 

(t)          “Spinco Know-How” shall mean all Know-How to the extent related to the Spinco Business, including the Know-How
set forth on Schedule 1.1(131)(viii) to the Separation Agreement.

 

(u)         “Spinco Patents” shall mean the Patents owned by any member of the Remainco Group or the Spinco Group in each
case that is related to the Spinco Business including those set forth on Schedule 1.1(131)(ix) to the Separation Agreement.

 

(v)         “Spinco Trademarks” shall mean all Trademarks that are related to the Spinco Business, including the Trademarks
set forth on Schedule 1.1(131)(viii) to the Separation Agreement.

 

2.             INTELLECTUAL
PROPERTY ASSIGNMENT AND RECORDATION

 

(a)           Assignments.

 

(i)          Remainco (on behalf of itself and the other members of the Remainco Group) hereby sells, transfers, conveys, assigns and delivers
to Spinco, and Spinco hereby purchases, assumes and accepts from Remainco, all of Remainco’s right, title and interest in,
to and under the Spinco Assigned IP, including without limitation, (A) all income, royalties, profits, and damages related thereto;
(B) the right, if any, to register, prosecute, maintain and defend the Spinco Assigned IP before any public or private agency
or registrar; (C) the right to bring actions, defend against or otherwise recover damages or other compensation for past,
present or future infringements, dilutions, misappropriations, or other violations of the Spinco Assigned IP, including the right
to sue and obtain equitable relief in respect of such infringements, dilutions, misappropriations and other violations; and
(D) the right to fully and entirely stand in the place of Remainco in all matters related thereto.

 

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(ii)         Remainco
(on behalf of itself and the other members of the Remainco Group) hereby transfers, conveys, assigns and delivers to Spinco,
and Spinco hereby assumes and accepts from Remainco, all of Remainco’s right, title and interest in, to and under the
Rexnord Marks and Rexnord Domain Names, including without limitation, (A) all income, royalties, profits, and damages related
thereto; (B) the right, if any, to register, prosecute, maintain and defend the Rexnord Marks and Rexnord Domain Names
before any public or private agency or registrar; (C) the right to bring actions, defend against or otherwise recover
damages or other compensation for past, present or future infringements, dilutions, misappropriations, or other violations of
the Rexnord Marks and Rexnord Domain Names, including the right to sue and obtain equitable relief in respect of such
infringements, dilutions, misappropriations and other violations; and (D) the right to fully and entirely stand in the
place of Remainco in all matters related thereto. The Rexnord Marks and the Rexnord Domain Names remain subject to the terms
of Section 3(c)(ii).

 

(iii)        Remainco (on behalf of itself and the other members of the Remainco Group) hereby transfers, conveys, assigns and delivers to
Spinco, and Spinco hereby assumes and accepts from Remainco, all of Remainco’s right, title and interest in, to and under
the DiRXN Assigned IP, and, without limitation, (A) all income, royalties, profits, and damages related thereto; (B) the
right, if any, to register, prosecute, maintain and defend the DiRXN Assigned IP before any public or private agency or registrar;
(C) the right to bring actions, defend against or otherwise recover damages or other compensation for past, present or future
infringements, dilutions, misappropriations, or other violations of the DiRXN Assigned IP, including the right to sue and obtain
equitable relief in respect of such infringements, dilutions, misappropriations and other violations; and (D) the right to
fully and entirely stand in the place of Remainco in all matters related thereto. The DiRXN Assigned IP remains subject to the
terms of Section 3(b) and Section 3(c)(ii).

 

(iv)        Effective immediately prior to the date of the Spinco Contribution, Spinco (on behalf of itself and the other members of the Spinco
Group) hereby transfers, conveys, assigns and delivers to Remainco, and Remainco hereby assumes and accepts from Spinco, all of
Spinco’s right, title and interest in, to and under the RBS, including the all Intellectual Property rights therein, excluding
the Rexnord Marks (“RBS Assigned Rights”), and, without limitation, (A) all income, royalties, profits, and
damages related thereto; (B) the right, if any, to register, prosecute, maintain and defend the RBS Assigned Rights before
any public or private agency or registrar; (C) the right to bring actions, defend against or otherwise recover damages or
other compensation for past, present or future infringements, dilutions, misappropriations, or other violations of the RBS Assigned
Rights, including the right to sue and obtain equitable relief in respect of such infringements, dilutions, misappropriations
and other violations; and (D) the right to fully and entirely stand in the place of Spinco in all matters related thereto.
The RBS Assigned Rights remain subject to the terms of Section 3(a), Section 3(c)(ii), and Section 3(c)(iii).

 

(v)         To
the extent that (A) the ownership of any registrations or applications of Spinco Assigned IP have transferred from a member of
the Remainco Group to a member of the Spinco Group pursuant to this Agreement, the Separation Agreement, the Merger Agreement
or any other Ancillary Agreement or (B) the ownership of any registrations or applications of Remainco Retained IP or RBS Assigned
Rights have transferred from a member of the Spinco Group to a member of the Remainco Group pursuant to this Agreement, the Separation
Agreement, the Merger Agreement or any other Ancillary Agreement each of Remainco and Spinco shall, and shall cause their respective
Group members (as applicable) to, execute Intellectual Property assignments in a form substantially similar to that attached as
Schedule C (the “Patent Assignment Agreement”), Schedule D (the “Trademark Assignment Agreement”),
Schedule E (the “the Copyright Assignment Agreement”) and Schedule F (the “Domain Name Assignment
Agreement”), as well as such additional assignments as deemed appropriate or necessary under applicable Legal Requirements
(collectively, the “Intellectual Property Assignment Agreements”) for recordation with the appropriate Governmental
Body or as is otherwise necessary to evidence the assignment of such assets.

 

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(b)           Recordation / Security Interests. The relevant assignee Party shall have the sole responsibility, at its sole cost and
expense, to file the Intellectual Property Assignment Agreements and any other forms or documents with the appropriate Governmental
Bodies, and the relevant assignor Party hereby consents to such recordation and shall provide reasonable assistance requested
by the relevant assignee Party related to such filings and recordations. Remainco shall have the sole responsibility, at its sole
cost and expense, to obtain, cause to be obtained or properly record the release of any outstanding security interest attached
to any Spinco Intellectual Property, and to take, or cause to be taken, all actions as Spinco may reasonably request Remainco
to take in order to obtain, cause to be obtained or properly record such release with the appropriate Governmental Bodies. Remainco
shall use reasonable efforts to file to record such releases against any applicable U.S. Patents, Trademarks or Copyrights with
the United States Patent and Trademark Office and/or the U.S. Copyright Office, respectively, promptly after (but in no event
more than ten (10) business days after) the Separation Effective Time. Remainco shall use reasonable efforts to file to record
such releases outside the U.S., to the extent applicable and reasonably requested by Spinco, on a commercially reasonable time
frame.

 

(c)           Corrective
Filings. Commencing on the Execution Date and ending no later than six (6) months and fifteen (15) days after the Execution
Date (the “Correction Period”), Remainco shall take, or cause to be taken, at its sole cost and expense, all
actions that are reasonably necessary to update the records for Spinco Intellectual Property that is issued by, registered with,
or applied for with the United States Patent and Trademark Office, the United States Copyright Office, or any analogous foreign
intellectual property office (such Spinco Intellectual Property, the “Correctable IP”) in order to: (i) correct
the owner of record for such Correctable IP so that the owner of record is a current member of Spinco Group ; (ii) remove any
apparent co-owners of the Correctable IP that are not to Remainco’s knowledge actual co-owners of such Correctable IP; (iii)
record any inventor assignments that have not been recorded with regard to any Patents in such Correctable IP; and (iv) correct
any other issues with the records for such Correctable IP, including the release of security interests that are no longer in force,
in each case of (i) through (iv), to the extent such can be corrected using commercially reasonable efforts, and, after the Separation
Effective Time, only to the extent that the documents and information necessary to take such actions is in the possession or control
of the Remainco Group or can be obtained using commercially reasonable efforts, and the Persons needed to sign any necessary documents
are available to the Remainco Group or can be made available using commercially reasonable efforts. Within thirty (30) days following
the Execution Date, Spinco shall provide Remainco with a list of Spinco Intellectual Property for which it requests Remainco to
take the corrective actions described in this Section 2(c), and for each day beyond thirty (30) days following the Execution
Date that Spinco fails to provide such list to Remainco, the Correction Period shall be extended day-for-day until such list is
provided. Remainco shall have no liability for a failure of the United States Patent and Trademark Office, the United States Copyright
Office, or any analogous foreign intellectual property office to take actions prior to the end of the Correction Period provided
that Remainco has requested that such intellectual property office take such action prior to the end of the Correction Period.
Nothing in this Section 2(c) shall obligate Remainco to take any action to correct any non-substantive or commercially
immaterial defects with respect to the records of Spinco Intellectual Property, or to take any action to correct defects for which
Spinco makes a request for correction more than sixty (60) days after the Execution Date, and the Parties will work together in
good faith to resolve any disagreement regarding whether an error is non-substantive and immaterial.

 

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(d)          Further Action Regarding Intellectual Property Rights.

 

(i)           If, after the Separation Effective Time, Remainco or Spinco notifies the other Party of any Know-How or other Intellectual Property
that is in the view of the Parties related to the Spinco Business in a manner similar to the Spinco Intellectual Property and
was omitted from or not included on Schedule 1.1(131)(viii) or (xi) to the Separation Agreement or Schedule C, then the Parties
shall promptly amend such schedule to include such item of Intellectual Property, and it shall be deemed Spinco Intellectual Property
for purposes of this Agreement and assigned to the Spinco Group under Article 2, and Remainco shall take all reasonable
actions, including by executing and recording any necessary documents, to effect such assignment.

 

(ii)          If, after the Separation Effective Time, Remainco or Spinco notifies the other Party of any Know-How or other Intellectual Property
that in the view of the Parties is not related to the Spinco Business in a manner similar to the Spinco Intellectual Property
and was included on Schedule 1.1(131)(ix) or (xi) to the Separation Agreement, Schedule C or was part of Spinco Held IP, then
the Parties shall promptly amend such schedule to include or remove such item (as applicable), and it shall be deemed Remainco
Retained IP for purposes of this Agreement and Spinco shall promptly take all reasonable actions, including by executing and recording
any necessary documents, to effect such assignment.

 

(iii)         Any disputes among the Parties regarding matters covered by Section 2(d)(i) or Section 2(d)(ii) shall be handled
pursuant to Article VII of the Separation Agreement.

 

3.            Intellectual
Property Licenses

 

(a)          RBS
License to Spinco. Subject to the terms and conditions of this Agreement, effective immediately prior to the date of the Spinco
Contribution, Remainco hereby grants to the Spinco Group a worldwide, royalty-free, fully-paid-up, irrevocable, transferable (as
permitted hereunder), non-exclusive, perpetual license to use, modify, enhance, improve, prepare derivative works
of and sublicense the RBS for the business purposes of the Spinco Group and, after the Separation Effective Time, for the business
purposes of the RMT Partner Companies. The foregoing license shall be sublicensable solely (i) to any Affiliate of Spinco
Group (including, for the avoidance of doubt, any RMT Partner Company), and (ii) to their third party service providers engaged
to support the business of the Spinco Group or, after the Separation Effective Time, the business of the RMT Partner Companies,
that are subject to appropriate confidentiality and restricted use obligations, meaning such third party service providers shall
not be permitted to further distribute, commercially use, or exploit the RBS that they have accessed through the Spinco Group.
Remainco acknowledges and agrees that, as between Remainco and Spinco, Spinco shall own any improvements, enhancements and modifications
to the RBS made by or on behalf of Spinco or its Affiliates, and all Intellectual Property rights therein. Spinco acknowledges
and agrees that, subject to the license granted in this Section 3(a), Remainco is the owner of all right, title and interest
in the RBS and Remainco shall retain the entire right, title and interest in and to any improvements, enhancements, modifications
and derivative works made by or on behalf of Remainco or its Affiliates after the Separation Effective Time, and all Intellectual
Property rights therein, which shall not be part of the license granted in this Section 3(a). Spinco shall keep any non-public
Proprietary Information contained in the RBS strictly confidential except for disclosures to those who have a reasonable need
to know in connection with their employment by or relationship to Spinco or one of its Affiliates and are subject to reasonable
confidentiality obligations to Spinco or one of its Affiliates consistent with this Agreement. Spinco and Remainco shall reasonably
cooperate on a case-by-case basis on enforcing and protecting Remainco’s Intellectual Property rights in the RBS to the
extent Spinco’s cooperation is reasonably required in connection with such enforcement and protection. Notwithstanding anything
to the contrary, and for the avoidance of doubt, the license granted in this Section 3(a) is transferrable to an Affiliate
or to any successor or assignee of all or part of the business of any member of the Spinco Group or of any of its Affiliates.

 

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(b)           DiRXN License to Remainco. Subject to the terms and conditions of this Agreement, Spinco hereby grants to Remainco a worldwide,
royalty-free, fully-paid-up, irrevocable, transferable, non-exclusive, perpetual license to use, modify, enhance,
improve, prepare derivative works of and sublicense DiRXN for the business purposes of the Remainco Group and its successors and
assigns. The foregoing license shall be sublicensable solely (i) to other members of the Remainco Group and (ii) to third parties,
including end-user customers of Remainco Group, to the extent reasonably necessary to support the business of the Remainco Group,
in each case subject to appropriate confidentiality and non-use obligations consistent with the terms of this Agreement. Spinco
acknowledges and agrees that, as between Spinco and Remainco, Remainco shall own any improvements, enhancements, modifications
and derivative works to DiRXN made by or on behalf of Remainco or its Affiliates, and all Intellectual Property rights therein.
Remainco acknowledges and agrees that Spinco is the owner of all right, title and interest in DiRXN, except for the DiRXN-related
Remainco IP. Spinco shall retain the entire right, title and interest in and to any improvements, enhancements and modifications
to DiRXN made by Spinco or its Affiliates, and all Intellectual Property rights therein, which shall not be part of the license
granted in this Section 3(b). Remainco shall keep any non-public Proprietary Information contained in DiRXN strictly confidential
except for disclosures to those who have a reasonable need to know in connection with their employment by or relationship to Remainco
and are subject to reasonable confidentiality obligations to Remainco consistent with this Agreement. Spinco and Remainco shall
reasonably cooperate on a case-by-case basis on enforcing and protecting Spinco’s Intellectual Property rights in DiRXN
to the extent Remainco’s cooperation is reasonably required in connection with such enforcement and protection. Notwithstanding
anything to the contrary, and for the avoidance of doubt, the license granted in this Section 3(b) is transferrable to
an Affiliate or to any successor or assignee of all or part of the business of any member of the Remainco Group or of any of its
Affiliates.

 

(c)           Trademark Phase Out Licenses.

 

(i)          Remainco shall change, and shall cause its Affiliates to change, all of their respective corporate names to remove “Rexnord”
and discontinue use of the Rexnord Domain Names, the Rexnord Marks, and the DiRXN Marks as promptly as possible following the
Closing (as defined in the Separation Agreement).

 

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(ii)         Subject
to its obligations under Section 3(c)(i) above and subject to Section 3(c)(iii) below, for a phase-out period,
not to exceed twelve (12) months immediately following the Closing Date (the “Phase-Out Period”), Remainco
and its Affiliates may continue to use the Rexnord Marks and DiRXN Marks in materially the same manner as used by
Remainco and its Affiliates prior to the Closing Date. As promptly as possible following the Closing, but in no event after
the end of the Phase-Out Period, Remainco and its Affiliates shall cease all use of the Rexnord Marks and the DiRXN Marks and
shall have re-labelled, destroyed or exhausted all materials bearing or incorporating the Rexnord Marks and DiRXN Marks,
including any signage, advertising, promotional materials, software, packaging, inventory, electronic materials, collateral
goods, stationery, business cards, web sites, and other materials (“Materials”) bearing or incorporating
such Trademarks, and have made all filings with any office, agency or body to effect the elimination of any use of the
Rexnord Marks from the businesses of Remainco and its Affiliates, so as to bring Remainco and its Affiliates into compliance
with Section 3(c)(i). Remainco and its Affiliates shall not seek to register in any jurisdiction any of the Rexnord
Marks. Following the end of the Phase-Out Period, if Spinco discovers any incident of usage of the Rexnord Marks or DiRXN
Marks by Remainco or its Affiliates in violation of this Section 3(c), then Spinco shall promptly notify Remainco of
such incident of usage. Upon receipt of such notice, the Remainco shall or shall cause its Affiliates, as applicable, to
promptly destroy or re-label the relevant materials incorporating the Rexnord Marks or DiRXN Marks.

 

(iii)        Notwithstanding Section 3(c)(i) and Section 3(c)(ii), Remainco shall not, at any time, be required to edit, re-do,
re-label, destroy, obliterate or exhaust any Materials bearing or incorporating the Rexnord Marks, Rexnord Domain Names, or DiRXN
Marks that were created prior to the Separation Effective Time and are either (A) outside of the Remainco Group’s control
or (B) are used solely for the Remainco Group’s internal business purposes and are not made available to third parties other
than those engaged to support the business of the Remainco Group that are subject to appropriate confidentiality and restricted
use obligations, meaning such third party service providers shall not be permitted to further distribute, commercially use, or
exploit the foregoing Materials they have accessed through the Remainco Group.

 

(d)           Shared Third-Party Software. For the avoidance of doubt, all matters regarding the allocation of Shared Third-Party Software
are addressed in Section 2.2 of the Separation Agreement and in the Transition Services Agreement.

 

4.            Additional
Intellectual Property Related Matters

 

(a)           Assignments and Licenses. The Parties acknowledge and agree that any assignment or license by a Party or any member of
its Group of any of its Intellectual Property licensed to the other Party pursuant to Article 2 or Article 3 shall
be subject to the rights and licenses granted to such other Party herein.

 

(b)           No Implied Licenses. Nothing contained in this Agreement shall be construed as conferring any rights (including the right
to sublicense) by implication, estoppel or otherwise, under any Intellectual Property, other than as expressly granted in this
Agreement, and all other rights under any Intellectual Property licensed to a Party or the members of its Group hereunder are
expressly reserved by the Party granting the license. The Party receiving the license hereunder acknowledges and agrees that,
as among the Parties, the Party (or the applicable member of its Group) granting the license is the sole and exclusive owner of
the Intellectual Property so licensed.

 

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(c)           Technical Assistance. Except as expressly set forth in this Agreement, in the Separation Agreement, the Transition Services
Agreement or any other mutually executed agreement among the Parties or any of the members of their respective Groups, neither
Party nor any member of its Group shall be required to provide the other Party with any technical assistance or to furnish any
other Party with, or obtain on their behalf, any Intellectual Property -related documents, materials or other information or technology.

 

(d)           Specified Rexnord Domains. The Parties shall negotiate in good faith and agree upon appropriate mechanisms to include as
services to be provided by Spinco to Remainco under the Transition Services Agreement to inform visitors to the Specified Rexnord
Domains of the separation of the Remainco Group and the Spinco Group and to assist such visitors to information on the Specified
Rexnord Domains regarding the Remainco Group alternative domains used by the Remainco Group or the Spinco Group, as applicable,
including, as agreed, posting of links, re-directions, or notifications.

 

5.            Limitation
of Liability and Warranty Disclaimer

 

(a)           Limitation on Liability. Without limiting or modifying the Separation Agreement, the Merger Agreement or any of the other
Ancillary Agreements, in no event shall Remainco, Spinco or any other member of either Group have any Liabilities pursuant to
this Agreement for any lost profits or opportunity costs, or any special, punitive or consequential damages. (except in any such
case to the extent assessed in connection with Remainco’s indemnity obligations under Section 5(c)).

 

(b)           Disclaimer of Representations and Warranties. Spinco (on behalf of itself and each other member of the Spinco Group) understands
and agrees that, except as expressly set forth in this Agreement, and without limiting the provisions of the Separation Agreement,
the Merger Agreement or any other Ancillary Agreement, Remainco is not representing or warranting in any way, including any implied
warranties of merchantability, fitness for a particular purpose, title, registrability, allowability, enforceability or non-infringement,
as to any Intellectual Property licensed hereunder, or any other matter concerning, any Intellectual Property licensed hereunder,
or as to the absence of any defenses or rights of setoff or freedom from counterclaim with respect to any claim or other Intellectual
Property of Remainco. Remainco (on behalf of itself and each other member of the Remainco Group), acknowledges and agrees that
Spinco makes no representations or warranties whatsoever concerning any of the Intellectual Property licensed hereunder, including
any of the warranties listed in the foregoing sentence. Except as may expressly be set forth herein, and without limiting the
provisions of the Separation Agreement, the Merger Agreement or any other Ancillary Agreement, all licenses granted under this
Agreement are licensed on an “as is,” “where is” basis.

 

(c)           Indemnification.

 

(i)          Remainco shall indemnify Spinco, its Affiliates and its and their respective officers, directors, employees, agents, and
other representatives (each a “Spinco Indemnitee” and collectively, the “Spinco
Indemnitees”) against, and defend and hold the Spinco Indemnitees harmless from any and all losses, damages,
penalties, Liabilities, fines, costs and expenses (including reasonable attorneys’ fees), actually incurred or suffered
by any Spinco Indemnitee which arise from a Legal Proceeding initiated or threatened by a third party (excluding any
Affiliate of any Spinco Indemnitee) (each, a “Spinco Action”) to the extent resulting from the use of any
of the Rexnord Marks, the DiRXN Marks, or the Rexnord Domain Names following the Separation Effective Time by any member of
Remainco Group or any third party authorized by a member of Remainco Group or any modifications, enhancements, improvements
or derivative works of DiRXN made by or on behalf of, or otherwise used by, a member of Remainco Group or a third party
authorized by a member of Remainco Group following the Separation Effective Time. If any Spinco Action subject to
indemnification hereunder shall be brought or threatened to be brought against any Spinco Indemnitee, the Spinco Indemnitee
(or the relevant Party) shall, as soon as reasonably practicable notify Remainco in writing of such Spinco Action, and the
circumstances thereof. The Spinco Indemnitee shall allow Remainco to undertake, conduct and control, through reputable
independent counsel of its own choosing and at its sole cost and expense, the defense, appeal or settlement of any such
Spinco Action for which it agrees to indemnify such Spinco Indemnitee; provided, that the Spinco Indemnitee shall be
permitted to participate in the defense, appeal and settlement through counsel of its choosing of any such Spinco Action at
its own cost and expense, and Remainco shall not compromise or settle any such Spinco Action without the prior written
consent of the Spinco Indemnitee (which may be withheld in its reasonable discretion) if doing so would give rise to
liability or any other obligations for Spinco or any Spinco Indemnitee.

 

    10 

     

    

 

(ii)         Spinco shall indemnify Remainco, its Affiliates and its and their respective officers, directors, employees, agents, and other
representatives (each a “Remainco Indemnitee” and collectively, the “Remainco Indemnitees”)
against, and defend and hold the Remainco Indemnitees harmless from any and all losses, damages, penalties, Liabilities, fines,
costs and expenses (including reasonable attorneys’ fees), actually incurred or suffered by any Remainco Indemnitee which
arise from a Legal Proceeding initiated or threatened by a third party (excluding any Affiliate of any Remainco Indemnitee) (each,
a “Remainco Action”) to the extent resulting from the use of any modifications, enhancements, improvements
or derivative works of RBS made by or on behalf of, or otherwise used by, a member of Spinco Group or a third party authorized
by a member of Spinco Group following the Separation Effective Time. If any Remainco Action subject to indemnification hereunder
shall be brought or threatened to be brought against any Remainco Indemnitee, the Remainco Indemnitee (or the relevant Party)
shall, as soon as reasonably practicable notify Spinco in writing of such Remainco Action, and the circumstances thereof. The
Remainco Indemnitee shall allow Spinco to undertake, conduct and control, through reputable independent counsel of its own choosing
and at its sole cost and expense, the defense, appeal or settlement of any such Remainco Action for which it agrees to indemnify
such Remainco Indemnitee; provided, that the Remainco Indemnitee shall be permitted to participate in the defense, appeal and
settlement through counsel of its choosing of any such Remainco Action at its own cost and expense, and Spinco shall not compromise
or settle any such Remainco Action without the prior written consent of the Remainco Indemnitee (which may be withheld in its
reasonable discretion) if doing so would give rise to liability or any other obligations for Remainco or any Remainco Indemnitee.

 

6.            Miscellaneous

 

(a)          Entire
Agreement; Counterparts; Exchanged by Facsimile. This Agreement, the Separation Agreement, the Merger Agreement or any other
Ancillary Agreement, including the exhibits and schedules of each of the foregoing shall constitute the entire agreement and shall
supersede all prior agreements and understandings, both written and oral, among or between any of the Parties with respect to
the subject matter hereof and thereof. This Agreement may be executed in several counterparts, each of which shall be deemed an
original and all of which shall constitute one and the same instrument. The exchange of a fully executed Agreement (in counterparts
or otherwise) by facsimile or electronic transmission shall be sufficient to bind the Parties to the terms and conditions of this
Agreement. In the event of a conflict between the terms of this Agreement and the terms of the Separation Agreement, the terms
of this Agreement shall prevail.

 

    11 

     

    

 

(b)          Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be
deemed to have been duly given or made as follows: (i) if sent by registered or certified mail in the U.S. return receipt requested,
upon receipt; (ii) if sent by nationally recognized overnight air courier (such as Federal Express), two (2) Business Days
after mailing; (iii) if sent by facsimile transmission or e-mail before 5:00 p.m. Central Time, when transmitted and receipt
is confirmed; (iv) if sent by facsimile transmission or e-mail after 5:00 p.m. Central Time and receipt is confirmed, on
the following Business Day; or (v) if otherwise actually personally delivered, when delivered; provided that
such notices, requests, demands and other communications are delivered to the physical address, e-mail address or facsimile number
set forth below, or to such other address as any Party shall provide by like notice to the other Parties to this Agreement:

 

if
to Spinco (after the Separation Effective Time) or RMT Partner:

 

Regal
Beloit Corporation

200 State Street

Beloit, WI 53511

Attention: Thomas E. Valentyn, Vice President, General Counsel and Secretary

Email: [Redacted]

 

with
a copy (which shall not constitute notice) to:

  

Sidley
Austin LLP

One South Dearborn Street

Chicago, IL 60603

Attention: Scott R. Williams and Christopher R. Hale

Fax: (312) 853-7036

Email: swilliams@sidley.com and chale@sidley.com

 

if
to Spinco (prior to the Separation Effective Time) or Remainco:

 

Rexnord
Corporation

511 W. Freshwater Way

Milwaukee, WI 53204

Attention: Patricia M. Whaley, Vice President, General Counsel & Secretary

Email: [Redacted]

 

    12 

     

    

 

with
a copy (which shall not constitute notice) to:

 

Morgan,
Lewis & Bockius LLP

101 Park Avenue

New York, NY 10178

Attention: Harry T. Robins, R. Alec Dawson and Andrew L. Milano

Phone:    (212) 309-6728

 (212)
309-7092

               (212)
309-6252

Fax:        (212)
309-6001

Email:    harry.robins@morganlewis.com

alec.dawson@morganlewis.com

                andrew.milano@morganlewis.com

 

and

 

Richards,
Layton & Finger, P.A.

920
North King Street

P.O.
Box 551

Wilmington,
DE 19801

Attention:
Mark Gentile and Stephanie Norman

Phone:
(302) 651-7722; (302) 651-7756

Email:
gentile@rlf.com; norman@rlf.com

 

A
copy of any notice from Remainco to Spinco, or from Spinco to Remainco, prior to the Separation Effective Time shall be provided
to RMT Partner in accordance with the notice procedures set forth in this Section 6(b).

 

(c)          Waiver.

 

(i)            No failure on the part of any Party to exercise any power, right, privilege or remedy under this Agreement, and no delay on the
part of any Party in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such
power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall
preclude any other or further exercise thereof or of any other power, right, privilege or remedy. The rights and remedies hereunder
are cumulative and not exclusive of any rights or remedies that any Party would otherwise have.

 

(ii)           No Party shall be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under
this Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument
duly executed and delivered on behalf of such Party and, in the case of waivers by Remainco or Spinco or any of their subsidiaries,
consented to in writing by RMT Partner; and any such waiver shall not be applicable or have any effect except in the specific
instance in which it is given.

 

    13 

     

    

 

  

(d)           Assignment.
This Agreement shall be binding upon, and shall be enforceable by and inure solely to the benefit of, the Parties and their
respective successors and permitted assigns; provided, however, that neither this Agreement nor any Party’s rights
or obligations hereunder may be assigned or delegated by such Party without the prior written consent of the other Parties,
except that a Party may assign any of its rights under this Agreement: (i) as collateral security to a creditor,
(ii) to one of its Affiliates or (iii)(A) in connection with the sale of all or substantially all of its assets or (B)
in the case of RMT Partner or Spinco in connection with the sale of substantially all of the assets of the Spinco Business or
the business unit of which it is a part; provided, however, that in each case, no such assignment shall relieve such
Party of any of its obligations. Any attempted assignment or delegation of this Agreement or any of such rights or
obligations by any Party in violation of this Agreement without the prior written consent of the other Parties shall be void
and of no effect.

 

(e)           Amendment. This Agreement may not be amended except by an instrument in writing signed by an authorized Representative
of each of the Parties.

 

(f)            Severability. Any term or provision of this Agreement (or part thereof) that is invalid or unenforceable in any situation
in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions of this Agreement or
the validity or enforceability of the offending term or provision (or part thereof) in any other situation or in any other jurisdiction.
If a final judgment of a court of competent jurisdiction declares that any term or provision of this Agreement (or part thereof)
is invalid or unenforceable, the Parties agree that the court making such determination shall have the power to limit such term
or provision (or part thereof), to delete specific words or phrases or to replace such term or provision with a term or provision
that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision
(or part thereof), and this Agreement shall be valid and enforceable as so modified. In the event such court does not exercise
the power granted to it in the prior sentence, the Parties agree to replace such invalid or unenforceable term or provision (or
part thereof) with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business
and other purposes of such invalid or unenforceable term or provision.

 

(g)           Construction.
For purposes of this Agreement, whenever the context requires: the singular number shall include the plural, and vice versa;
the masculine gender shall include the feminine and neuter genders; the feminine gender shall include the masculine and neuter
genders; and the neuter gender shall include masculine and feminine genders. The Parties agree that any rule of construction
to the effect that ambiguities are to be resolved against the drafting Party shall not be applied in the construction or interpretation
of this Agreement. As used in this Agreement, unless otherwise specified, the words “include” and “including,”
and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words
 “without limitation.” As used in this Agreement, the word “extent” in the phrase “to the extent”
shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if.” As used
in this Agreement, the terms “or,” “any” or “either” are not exclusive. Except as otherwise
indicated, all references in this Agreement to “Articles,” “Sections,” “Exhibits” and “Schedules”
are intended to refer to Sections or Articles of this Agreement and Exhibits or Schedules to this Agreement. As used in this Agreement,
the terms “hereunder,” “hereof,” “hereto,” “herein” and words of similar import
shall be deemed to refer to this Agreement as a whole and not to any particular Section or other provision. The headings contained
in this Agreement are for convenience of reference only, shall not be deemed to be a part of this Agreement and shall not be referred
to in connection with the construction or interpretation of this Agreement. Any payment to be made pursuant hereto shall be made
in U.S. dollars and by wire transfer of immediately available funds. Unless the context requires otherwise, references in this
Agreement to “Remainco” shall also be deemed to refer to the applicable member of the Remainco Group, references to
 “Spinco” shall also be deemed to refer to the applicable member of the Spinco Group and, in connection therewith,
any references to actions or omissions to be taken, or refrained from being taken, as the case may be, by Remainco or Spinco shall
be deemed to require Remainco or Spinco, as the case may be, to cause the applicable members of the Remainco Group or the Spinco
Group, respectively, to take, or refrain from taking, any such action.

 

    14 

     

    

 

 

(h)              
Governing Law; Jurisdiction; Specific Performance; Remedies. This Agreement shall be governed by, and construed
in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles
of conflicts of laws thereof. In any Legal Proceeding between any of the Parties arising out of or relating to this Agreement
or any of the transactions contemplated hereby: (i) each of the Parties irrevocably and unconditionally consents and submits
to the exclusive jurisdiction and venue of the Court of Chancery of the State of Delaware or, if under applicable Legal Requirements,
the Court of Chancery does not have subject matter jurisdiction over such matter, in any federal court in the State of Delaware
or, if under applicable Legal Requirements, neither such court has subject matter jurisdiction over such matter, in any other
state court in the State of Delaware, and in each case any appellate court with jurisdiction therefrom (the “Chosen Courts”);
(ii) each of the Parties irrevocably waives the right to trial by jury; and (iii) each of the Parties irrevocably
and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, any claim (1) that
it is not personally subject to the jurisdiction of the Chosen Courts as described herein for any reason; (2) that it
or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts;
and (3) that (x) the claim, action, suit or other Legal Proceeding in any such court is brought in an inconvenient forum;
(y) the venue of such claim, action, suit or other Legal Proceeding is improper; or (z) this Agreement, the Ancillary
Agreements, or the subject matter hereof or thereof, may not be enforced in or by such courts. Each of the Parties further agrees
that, to the fullest extent permitted by applicable Legal Requirements, service of any process, summons, notice or document in
accordance with the provisions of Section 6(b) will be effective service of process for any claim, action, suit or other
Legal Proceeding in the Chosen Courts with respect to any matters to which it has submitted to jurisdiction as set forth in this
paragraph. The Parties hereby agree that a final judgment in any such claim, suit, action or other Legal Proceeding will be conclusive,
subject to any appeal, and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable
Legal Requirements. The Parties agree that irreparable damage would occur and that the Parties would not have any adequate remedy
at law in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or
were otherwise breached. It is accordingly agreed that the Parties shall be entitled to specific performance and injunctive or
other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement
without the requirement for the posting of any bond, this being in addition to any other remedy to which they are entitled at
law or in equity. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or
remedies otherwise available.

 

*        *         *

 

    15 

     

    

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the Execution Date.

 

	 	REXNORD CORPORATION
	 	 	 
	 	By:	/s/ Todd A. Adams
	 	 	Name: Todd A. Adams
	 	 	Title: President and Chief Executive Officer
	 	 	 
	 	LAND NEWCO, INC.
	 	 	 
	 	By:	/s/ Todd A. Adams
	 	 	Name: Todd A. Adams
	 	 	Title: President

 

Signature Page to Intellectual Property Matters Agreement 

 

     

     

    

 

	 	REGAL BELOIT CORPORATION
	 	 	 
	 	By:	/s/ Louis V. Pinkham
	 	 	Name: Louis V. Pinkham
	 	 	Title: Chief Executive Officer

 

Signature Page to Intellectual Property Matters AgreementExhibit 10.5

 

Execution Version 

 

REAL ESTATE MATTERS AGREEMENT

 

This Real Estate Matters
Agreement (this “Agreement”) is entered into on February 15, 2021, by and among (i) Rexnord Corporation, a Delaware
corporation (“Remainco”) (ii) Land Newco, Inc., a Delaware corporation and wholly owned indirect Subsidiary
of Remainco (“Spinco”); and Regal Beloit Corporation, a Wisconsin corporation (“RMT Partner”)
(each a “Party” and together, the “Parties”).

 

R E C I T A L S:

 

WHEREAS, a majority
of the Owned Properties and Leased Properties are currently owned or leased by a member of the Spinco Group;

 

WHEREAS, in accordance
with the Separation and Distribution Agreement dated as of the date hereof, by and among Remainco, Spinco and RMT Partner (the
 “Separation Agreement”), Remainco will cause the Asset Transferors to transfer to the respective Spinco Asset
Transferee, certain assets owned or leased by the Asset Transferors that are not currently owned or leased by a member of the Spinco
Group;

 

WHEREAS, in accordance
with the Separation Agreement, Remainco will cause the Asset Transferees to transfer to the respective Remainco Asset Transferee,
certain Remainco Retained Properties that are currently owned or leased by a member of the Spinco Group;

 

WHEREAS, the Parties
desire to set forth certain agreements regarding real estate matters.

 

NOW, THEREFORE, in
consideration of the foregoing, the covenants and agreements set forth below, and other good and valuable consideration, the sufficiency
of which is hereby acknowledged, the Parties hereto agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1           
Definitions. The following terms, as used herein, shall have the meanings stated below. Capitalized terms used herein
and not otherwise defined herein shall have the meanings ascribed to such terms in the Separation Agreement.

 

(a)          “Actual Completion Date” means, with respect to each Owned Property or Leased Property, the date upon
which completion of the transfer, assignment and sublease of that Owned Property or Leased Property actually takes place in accordance
with the terms and conditions of this Agreement.

 

(b)          “Excluded Personal Property” means that certain equipment, office equipment, trade fixtures, furniture
and any other personal property located at each Owned Property or Leased Property which are tangible Remainco Retained Assets as
contemplated in Section 2.15 of the Separation Agreement.

 

     

     

    

 

(c)          “Landlord” means the third-party landlord or sublandlord under a Lease, and its successors and assigns,
and includes the holder of any other interest which is superior to the interest of the landlord or sublandlord under such Lease.

 

(d)          “Lease” means, in relation to each Leased Property, the leases or subleases under which the respective
Asset Transferors hold such Leased Property and any other supplemental document completed prior to the Actual Completion Date (including,
without limitation, any amendments).

 

(e)          “Lease Assignment Forms” means the forms of lease assignment reasonably agreed to by the Parties, acting
in good faith.

 

(f)           “Lease Consents” means, as applicable all Consents required from the Landlord and/or other third parties
under the Relevant Leases (including, without limitation, a waiver of a right to recapture the Leased Property, if applicable)
to assign the Relevant Leases to an applicable Spinco Asset Transferee, or to sublease the Leased Property to an applicable Spinco
Asset Transferee, or to enter into any of the other transactions contemplated by the Separation Agreement or this Agreement.

 

(g)          “Leased Properties” means those properties, other than Remanico Retained Properties, identified as “Leased
Properties” on the Owned and Leased Properties Schedule, and all other properties primarily used in the Spinco Business as
of the Distribution Date or at any time during the Measurement Period (as defined in the Merger Agreement) other than in the ordinary
course of business, which properties are or were held pursuant to a Lease and will be or have been transferred by lease assignment
to the applicable Spinco Asset Transferee prior to or as of the Distribution Date subject to obtaining the necessary Lease Consents.

 

(h)          “Owned
and Leased Properties Schedule” means Schedule 1 attached hereto.

 

(i)           “Owned Properties” means those properties, other than Remanico Retained Properties, identified as “Owned
Properties” on the Owned and Leased Properties Schedule, and all properties primarily used in the Spinco Business as of the
Distribution Date or at any time during the Measurement Period (as defined in the Merger Agreement) other than in the ordinary
course of business, which properties are owned by the respective Asset Transferors and will transfer or have been transferred by
deed to the applicable Spinco Asset Transferee in fee prior to or as of the Distribution Date.

 

(j)           “Relevant
Leases” means those Leases set forth on Schedule 2 attached here to and any other Lease with respect to which
the Landlord’s and/or other third parties’ consent is required for (x) assignment to a Spinco Asset Transferee, as
applicable, as contemplated by the Separation Agreement or hereunder, or (y) any of the other transactions contemplated by the
Separation Agreement or this Agreement (including, without limitation, a sublease).

 

(k)          “Remainco
Retained Properties” means each of those properties listed on Schedule 3 attached hereto which will not, and
which are not intended to, be transferred, leased, subleased or licensed to Spinco in accordance with this Agreement.

 

    2 

     

    

 

(l)           “Spinco Properties” means each of those properties listed on Schedule 4 attached hereto which
are currently owned or leased by a member of the Spinco Group.

 

ARTICLE II

OWNED PROPERTY AND LEASED PROPERTY IN THE UNITED STATES

 

Section 2.1           
Spinco Properties. The Spinco Properties are currently owned or leased by a member of the Spinco Group and do not
require to be transferred or assigned pursuant to this Agreement.

 

Section 2.2           
Owned Property. Remainco shall cause its applicable Asset Transferors to convey each of the Owned Properties (together
with all improvements and fixtures thereon and all rights and easements appurtenant thereto) to the applicable Spinco Asset Transferees,
as directed by RMT Partner, subject to the other provisions of this Agreement and the terms of the Separation Agreement. Such conveyance
shall be completed on or before the Distribution Date.

 

Section 2.3           
Leased Property. Remainco shall cause its applicable Asset Transferors to assign, and Spinco shall cause its applicable
Spinco Asset Transferees to accept and assume, as directed by RMT Partner, the respective Asset Transferor’s valid leasehold
interest in the Leased Properties, subject to the other provisions of this Agreement and the terms of the Separation Agreement.
Such assignment shall be completed on or before the Distribution Date; provided if a Lease Consent is required but not obtained
prior to the Distribution Date for any assignment, the assignment shall be completed as soon as practicable following the Distribution
Date.

 

Section 2.4           
Remainco Retained Properties. Remainco shall cause its applicable Asset Transferors to transfer or assign each of
the Remainco Retained Properties (together with all improvements and fixtures thereon and all rights and easements appurtenant
thereto) to an applicable Remainco Asset Transferee. Such conveyance shall be completed on or before the Distribution Date.

 

Section 2.5           
Obtaining the Lease Consents.

 

(a)          Remainco confirms that, with respect to each Leased Property, to the extent required by the Relevant Lease, an application/request
will be diligently made to the relevant Landlord for the Lease Consents required in accordance with the terms and conditions of
the Relevant Lease with respect to the transactions contemplated by this Agreement and the Separation Agreement. Remainco shall
be, and has at all times been, primarily responsible for requesting, negotiating and obtaining all Lease Consents. Remainco shall
notify Spinco in writing on a weekly basis of the status of the Lease Consents and any issues arising therefrom.

 

(b)          Remainco shall use reasonable best efforts to obtain the Lease Consents, but Remainco shall not be required to commence
judicial proceedings for a declaration that a Lease Consent has been unreasonably withheld, conditioned or delayed, nor shall Remainco
be required to pay any consideration in excess of that required by the Relevant Lease to obtain the relevant Lease Consent.

 

    3 

     

    

 

(c)          Spinco and RMT Partner will promptly satisfy the lawful requirements of the Landlord as set forth in the Relevant Lease,
and will take all reasonable steps to assist Remainco in obtaining the Lease Consents, including those set forth in Section 2.11
of the Separation Agreement and including, without limitation:

 

(i)          if reasonably required by the Landlord, entering into an agreement with the relevant Landlord to observe and perform the
tenant’s obligations contained in the Relevant Lease from and after the Distribution Date throughout the remainder of the
term of the Relevant Lease, subject to any statutory limitations of such liability; and

 

(ii)         if reasonably required by the Landlord, providing a guarantee, surety or other commercially reasonable security (including,
without limitation, a security deposit) for the obligations of applicable Spinco Asset Transferee, as tenant under the Relevant
Lease, and otherwise taking all steps which are reasonably necessary and which it is capable of doing to meet the lawful requirements
of the Landlord as set forth in the Relevant Lease so as to ensure that the Lease Consents are obtained.

 

(d)          RMT Partners agrees to accept assignment from Remainco of that certain Master Lease, with an effective date of February
19, 2019 (“Master Lease”) by and between Rexnord Corporation, as tenant, and 111 Michigan Partners LLC, as landlord,
to an entity at the RMT Partner level that is consistent with the requirements in Section 11.1 of the Master Lease and/or provide
a parent guaranty, if required.

 

Section 2.6           
Occupancy.

 

(a)          In the event that the Actual Completion Date for any Owned Property or Leased Property does not occur on or before the Distribution
Date, whether or not a member of the Spinco Group occupies the Leased Property or Owned Property, Spinco and RMT Partner shall,
effective as of the Distribution Date, (i) pay Remainco or the applicable Asset Transferor all rents, service charges, insurance
premiums, real estate taxes and other sums payable by Remainco or the respective Asset Transferor under any Relevant Lease or Owned
Property, accruing after the Actual Completion Date, or Distribution Date, whichever is later, and (ii) indemnify, defend, protect
and hold harmless Remainco and the applicable Asset Transferor from and against all losses, costs, claims, damages and liabilities
arising on account of any breach of the Leases by Spinco or a member of the Spinco Group after the Actual Completion Date, or Distribution
Date, whichever is later.

 

(b)          In the event that the Actual Completion Date for any Remainco Retained Property does not occur on or before the Distribution
Date, whether or not a member of the Remainco Group occupies the Leased Property or Owned Property, Remainco shall (i) pay RMT
Partner all rents, service charges, insurance premiums, real estate taxes and other sums payable by Remainco or the respective
Asset Transferor under any Lease or Owned Property, (ii) observe, in all material respects, the tenant’s covenants, obligations
and conditions contained in the Lease, and (iii) indemnify, defend, protect and hold harmless Spinco and RMT Partner from and against
all losses, costs, claims, damages and liabilities arising on account of any breach of the Leases by Remainco or the applicable
Asset Transferor, in each case arising on or prior to the Actual Completion Date, or Distribution Date, whichever is later.

 

    4 

     

    

 

(c)          Remainco shall supply promptly to Spinco copies of all invoices, demands, notices and other communications received by Remainco
or the applicable Asset Transferor or agents in connection with any of the matters for which Spinco may be liable to make any payment
or perform any obligation pursuant to Section 2.6(a), and shall, at Spinco’s cost, (x) take any steps and pass on
any objections which Spinco may have in connection with any such matters, provided Spinco has any audit right as set forth in the
Lease; provided that the failure to so supply shall not relieve Remainco of its indemnification or reimbursement obligations hereunder,
and (y) at the direction of Remainco, enforce the applicable Asset Transferor’s rights against the Landlord under the
Relevant Lease; provided that the failure to so supply shall not relieve Spinco of its indemnification or reimbursement obligations
hereunder. Spinco shall promptly supply to Remainco any notices, demands, invoices and other communications received by Spinco
or a member of the Spinco Group or its agents from any Landlord while a member of the Spinco Group occupies any Leased Property
without the relevant Lease Consent.

 

Section 2.7           
Obligation to Complete. If, with respect to any Leased Property, at any time the relevant Lease Consent is lawfully,
formally and unconditionally refused in writing, the Parties shall commence good faith negotiations and use commercially reasonable
efforts to determine how to resolve based on the relative importance of the applicable Leased Property to the operations of the
Spinco Business, including, without limitation, the size of the applicable Spinco Property, the number of employees at the applicable
Spinco Property, the value of assets associated with the Spinco Property, the cost to relocate, and the potential risk and liability
to each Party in the event any enforcement action is brought by the applicable Landlord. Such commercially reasonable efforts shall
include assigning at the appropriate entity level, providing a parent guaranty if required by the applicable landlord, consideration
of alternate structures to accommodate the needs of each Party and the allocation of the costs thereof, including entering into
amendments of the size, term or other terms of the Relevant Lease and restructuring a proposed lease assignment to be a sublease,
license or other similar agreement. If a sublease, license or other similar agreement is the agreed upon structure, Remainco shall
apply to the relevant Landlord for consent to sublease or license all of the relevant Leased Property to the applicable Spinco
Asset Transferee for the remainder of the Relevant Lease term less one (1) day at a rent equal to the rent from time to time under
the Relevant Lease, but otherwise on substantially the same terms and conditions as the Relevant Lease. If Remainco makes such
an election, until such time as the relevant Lease Consent is obtained and a sublease, license or other similar agreement is completed,
the provisions of Section 2.5 will apply and, on the grant of the Lease Consent required for the Leased Property in question,
the applicable Asset Transferor shall sublease or license to the applicable Spinco Asset Transferee the relevant Leased Property.

 

Section 2.8           
Form of Transfer. To the extent required, the conveyance to the applicable Spinco Asset Transferees of each (i) Owned
Property shall be in the form of a special or limited warranty deed, or its equivalent, in statutory form and in a form reasonably
acceptable to RMT Partner, executed by the applicable Remainco Asset Transferor, (ii) Leased Property shall be in the form of the
Lease Assignment Form executed by the applicable Remainco Asset Transferor and applicable Spinco Asset Transferee, (iii) Owned
Property and Leased Property shall require transfer tax forms (state, local or municipal, as applicable) executed by the applicable
Remainco Asset Transferor and applicable Spinco Asset Transferee, if required, (iv) Owned Property shall require a FIRPTA affidavit
in a form reasonably acceptable to RMT Partner, executed by the applicable Remainco Asset Transferor, and (v) Owned Property and
Leased Property shall require such other deliverables as may be required by the laws of the jurisdiction in which the Owned Property
or Leased Property is located, executed by the applicable Remainco Asset Transferor and applicable Spinco Asset Transferee, if
required.

 

    5 

     

    

 

Section 2.9          Casualty; Lease Termination.

 

(a)          If, prior to the Actual Completion Date (but not after the Effective Time (as defined in the Merger Agreement)), there shall
occur any physical damage to or destruction of, or similar loss of, any Owned Property or Leased Property (or any part thereof)
(a “Casualty Loss”) or any condemnation or taking by eminent domain by a Governmental Body of any of such Owned
Property or Leased Property (a “Condemnation Event”), then, in any such event, Remainco shall promptly notify
RMT Partner, and: (i) Remainco shall use its reasonable best efforts to (A) replace or repair (as applicable) the Owned Property
or Leased Property subject to such Casualty Loss and (B) replace the Owned Property or Leased Property that has been condemned
or taken such that the operation of the Spinco Business can continue in all material respects in the ordinary course consistent
with past practices; or (ii) if the conveyance or assignment is consummated pursuant to the terms and conditions of this Agreement
notwithstanding such Casualty Loss or Condemnation Event, and if such damaged, destroyed or condemned or taken Owned Property or
Leased Property has not been repaired or replaced as of the Effective Time (as defined in the Merger Agreement), then, without
limiting Spinco’s or any member of the Spinco Group’s other rights hereunder, promptly after any casualty insurance
proceeds, business interruption insurance proceeds or condemnation proceeds payable to Remainco or the applicable Remainco Asset
Transferor with respect to such Casualty Loss or Condemnation Event have been actually collected, Remainco shall, or shall cause
the applicable Remainco Asset Transferor to, pay to Spinco or the applicable Spinco Asset Transferee: (x) the aggregate amount,
if any, of such casualty insurance proceeds described above actually paid to Remainco or the applicable Remainco Asset Transferor
in connection with such Casualty Loss, as well as the amount of the deductible due under the applicable insurance policy; (y) the
aggregate amount, if any, of such business interruption insurance proceeds described above actually paid to Remainco or the applicable
Remainco Asset Transferor in connection with such Casualty Loss; and (z) the aggregate amount, if any, of such condemnation proceeds
described above actually paid to Remainco or the applicable Remainco Asset Transferor in connection with such Condemnation Event.
Remainco shall, and shall cause the applicable Remainco Asset Transferors to, use commercially reasonable efforts to collect amounts
due (if any) under insurance policies or programs in respect of any Casualty Loss or as a result of a Condemnation Event. The amount
of any insurance or condemnation proceeds actually paid to Remainco or the applicable Remainco Asset Transferor shall be included
as a Spinco Asset, but shall not be counted toward Closing Working Capital and shall not be included as part of the Cash Payment
or be distributable cash available to Remainco or any other member of the Remainco Group.

 

(b)          In addition, in the event that a Lease is terminated prior to the Distribution Date, (i) Remainco or the applicable Asset
Transferor shall not be required to assign such Leased Property, (ii) Spinco or the applicable Spinco Asset Transferee shall not
be required to accept an assignment, of such Leased Property and (iii) neither party shall have any further liability with respect
to such Leased Property hereunder.

 

    6 

     

    

 

Section 2.10       
Fixtures and Fittings. The provisions of the Separation Agreement shall apply to any equipment, office equipment,
trade fixtures, furniture and any other personal property located at each Owned Property or Leased Property (excluding any equipment,
office equipment, trade fixtures, furniture and any other personal property owned by third parties), except for the applicable
scheduled Excluded Personal Property.

 

Section 2.11       
Costs. Remainco and Spinco shall share the actual costs and expenses equally incurred in connection with obtaining
the Lease Consents for those Leases with respect to which the Landlord’s and/or other third parties’ consent is required
for an assignment to a Spinco Asset Transferee, as applicable, as contemplated by the Separation Agreement or hereunder, including,
without limitation, Landlord’s Consent fees and attorneys’ fees and any costs and expenses. Except as otherwise provided
herein, Remainco and Spinco shall also share the actual costs and expenses equally in connection with the transfer of any Owned
Property or Leased Property to a Spinco Asset Transferee pursuant to this Agreement, including escrow fees, recording fees, and
any transfer taxes arising as a result of such transfers. Spinco shall be solely responsible for any title insurance premiums and
survey costs.

 

ARTICLE III

OWNED PROPERTY AND LEASED PROPERTY OUTSIDE THE UNITED STATES

 

Section 3.1           Owned
Property and Leased Property Outside the United States. With respect to each of the Owned Properties and Leased Properties
located outside the United States listed on the Owned and Leased Property Schedule, Remainco and Spinco will use the appropriate
form document reasonably agreed to by the Parties, translated into the local language, if customary under local practice, and modified
to comply with local legal requirements to cause the appropriate transfers, assignments, subleases or licenses to occur. Such transfers,
lease assignments, subleases and licenses shall, so far as the law in the jurisdiction in which such Owned Property or Leased Property
is located permits, be on the same terms and conditions as provided in Article II and shall include such other deliveries
(and the Parties shall comply with such other customary procedures and formalities) as may be required by the laws of the jurisdiction
in which the Owned Property or Leased Property is located. In the event of a conflict between the terms of this Agreement and the
terms of such local agreements, the terms of the local agreements shall prevail.

 

ARTICLE IV

MISCELLANEOUS

 

Section 4.1           
Entire Agreement; Counterparts; Exchanges by Facsimile. This Agreement, the Merger Agreement, the Ancillary
Agreements and the Confidentiality Agreement, including the exhibits and schedules hereto and thereto and the other agreements
referred to herein and therein shall constitute the entire agreement and shall supersede all prior agreements and understandings,
both written and oral, among or between any of the Parties with respect to the subject matter hereof and thereof. In the event
of a conflict between the terms of this Agreement and the terms of the Separation Agreement, the terms of this Agreement shall
prevail. This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall
constitute one and the same instrument. The exchange of a fully executed Agreement (in counterparts or otherwise) by facsimile
or electronic transmission shall be sufficient to bind the Parties to the terms and conditions of this Agreement.

 

    7 

     

    

 

Section 4.2           
Survival. The covenants and agreements that by their terms are to be performed following the Separation Effective
Time pursuant to this Agreement or any other Ancillary Agreement shall survive the Separation Effective Time in accordance with
their terms, and all other covenants and agreements herein and therein shall terminate and shall not survive the Separation Effective
Time.

 

Section 4.3           
Expenses. Except as otherwise provided in this Agreement, the Merger Agreement or any Ancillary Agreement, (i) all
fees and expenses incurred in connection with this Agreement and the Merger Agreement and the transactions contemplated hereby
or thereby shall be paid by the Party incurring such expenses, whether or not the transactions contemplated hereby or by the Merger
Agreement are consummated and (ii) all out of pocket expenses and fees incurred but not paid prior to the Effective Time by
or on behalf of the Spinco Group in connection with this Agreement, the Ancillary Agreements and the transactions contemplated
hereby and thereby, including fees payable to investment banks, accountants, consultants, and counsel, shall be deemed to be fees
and expenses of Remainco and Assumed by Remainco.

 

Section 4.4           
Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall
be deemed to have been duly given or made as follows:   i) if sent by registered or certified mail in the U.S. return
receipt requested, upon receipt;  ii) if sent by nationally recognized overnight air courier (such as Federal Express),
two (2) Business Days after mailing;  iii) if sent by facsimile transmission or e-mail before 5:00 p.m. Central
Time, when transmitted and receipt is confirmed;  iv) if sent by facsimile transmission or e-mail after 5:00 p.m.
Central Time and receipt is confirmed, on the following Business Day; or  v) if otherwise actually personally delivered,
when delivered; provided that such notices, requests, demands and other communications are delivered to the physical
address, e-mail address or facsimile number set forth below, or to such other address as any Party shall provide by like notice
to the other Parties to this Agreement:

 

if to RMT Partner or Spinco (after the Separation
Effective Time): 

 

Regal Beloit Corporation

200 State Street

Beloit, WI 53511

Attention: Thomas E. Valentyn, Vice President, General Counsel and Secretary

Email: [Redacted]

 

with a copy (which shall not constitute notice)
to: 

 

Sidley Austin LLP

One South Dearborn Street

Chicago, IL 60603

Attention:  Scott R. Williams and Christopher R. Hale

Fax:  (312) 853-7036

Email:  swilliams@sidley.com and chale@sidley.com

 

    8 

     

    

 

if to Remainco or Spinco (prior to the Separation
Effective Time): 

 

Rexnord Corporation

511 W. Freshwater Way

Milwaukee, WI 53204

Attention: Patricia M. Whaley, Vice President, General Counsel & Secretary

Email: [Redacted]

 

with a copy (which shall not constitute notice)
to:

 

Morgan, Lewis & Bockius LLP

101 Park Avenue

New York, NY 10178

Attention: R. Alec Dawson and Andrew L. Milano

Phone: (212) 309-7092

              (212) 309-6252

Fax:      (212) 309-6001

Email:  alec.dawson@morganlewis.com

             andrew.milano@morganlewis.com

 

and

 

Richards, Layton & Finger, P.A.

920 North King Street

P.O. Box 551

Wilmington, DE 19801

Attention: Mark Gentile and Stephanie Norman

Phone: (302) 651-7722; (302) 651-7756

Email: gentile@rlf.com; norman@rlf.com

 

A copy of any notice from Remainco to Spinco,
or from Spinco to Remainco, prior to the Separation Effective Time shall be provided to RMT Partner in accordance with the notice
procedures set forth in this Section 4.4.

 

Section 4.5           
Waiver.

 

(a)           No failure on the part of any Party to exercise any power, right, privilege or remedy under this Agreement, and no delay
on the part of any Party in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of
such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall
preclude any other or further exercise thereof or of any other power, right, privilege or remedy. The rights and remedies hereunder
are cumulative and not exclusive of any rights or remedies that any Party would otherwise have.

 

(b)           No Party shall be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy
under this Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument
duly executed and delivered on behalf of such Party and, in the case of waivers by Remainco or Spinco or any of their Subsidiaries,
consented to in writing by RMT Partner; and any waiver shall not be applicable or have any effect except in the specific instance
in which it is given.

 

    9 

     

    

 

Section 4.6           
Assignment. This Agreement shall be binding upon, and shall be enforceable by and inure solely to the benefit of,
the Parties and their respective successors and permitted assigns; provided, however, that neither this Agreement nor any
Party’s rights or obligations hereunder may be assigned or delegated by such Party without the prior written consent of the
other Parties except that a Party may assign any of its rights under this Agreement: (i) as collateral security to a creditor,
(ii) to one of its Affiliates or (iii)(A) in connection with the sale of all or substantially all of its assets or (B) in the case
of RMT Partner or Spinco in connection with the sale of substantially all of the assets of the Spinco Business or the business
unit of which it is a part; provided, however, that in each case, no such assignment shall relieve such Party of
any of its obligations. Any attempted assignment or delegation of this Agreement or any of such rights or obligations by any Party
in violation of this Agreement without the prior written consent of the other Parties shall be void and of no effect.

 

Section 4.7           
Termination. This Agreement shall terminate without further action at any time before the Separation Effective Time
upon termination of the Merger Agreement. If so terminated, no Party shall have any Liability of any kind to any other Party or
any other Person on account of this Agreement, except as provided in the Merger Agreement.

 

Section 4.8           
Amendment. This Agreement may not be amended except by an instrument in writing signed by an authorized Representative
of each of the Parties.

 

Section 4.9           
 Payment Terms.

 

(a)           Except as set forth in Article IV of the Separation Agreement or as otherwise expressly provided to the contrary
in this Agreement or in any other Ancillary Agreement, any amount to be paid or reimbursed by a Party (and/or a member of such
Party’s Group), on the one hand, to the other Party (and/or a member of such Party’s Group), on the other hand, under
this Agreement shall be paid or reimbursed hereunder within 30 days after presentation of an invoice or a written demand therefor
and setting forth, or accompanied by, reasonable documentation or other reasonable explanation supporting such amount.

 

(b)          Without the consent of the Party receiving any payment under this Agreement specifying otherwise, all payments to be made
by either Remainco or Spinco under this Agreement shall be made in U.S. dollars. Except as expressly provided herein, any amount
which is not expressed in U.S. dollars shall be converted into U.S. dollars by using the exchange rate published on Bloomberg at
5:00 p.m. Central Time two days prior to the relevant date or in The Wall Street Journal on such date if not so published on Bloomberg.
Except as expressly provided herein, in the event that any indemnification payment required to be made hereunder or under any other
Ancillary Agreement may be denominated in a currency other than U.S. dollars, the amount of such payment shall be converted into
U.S. Dollars on the date in which notice of the claim is given to the Indemnifying Party.

 

    10 

     

    

 

Section 4.10       
Subsidiaries. Each of the Parties shall cause to be performed, all actions, agreements and obligations set forth
herein to be performed by any of its Subsidiaries (including Spinco and its Subsidiaries with respect to (i) Remainco prior to
the Separation Effective Time and (ii) the RMT Partner following the Effective Time.

 

Section 4.11       
Third-Party-Beneficiaries. Except (i) as provided in Article IV of the Separation Agreement relating to Indemnitees
and for the release under Section 4.1 of the Separation Agreement of any Person provided therein, and (ii) as specifically provided
in any Ancillary Agreement, this Agreement is solely for the benefit of the Parties and nothing in this Agreement, express or implied,
is intended to or shall confer upon any Person (other than the Parties) any right, benefit or remedy of any nature whatsoever under
or by reason of this Agreement.

 

Section 4.12       
Exhibits and Schedules. The Exhibits and Schedules shall be construed with and as an integral part of this Agreement
to the same extent as if the same had been set forth verbatim herein. Nothing in the Exhibits or Schedules constitutes an admission
of any liability or obligation of any member of the Remainco Group or the Spinco Group or any of their respective Affiliates to
any third party, nor, with respect to any third party, an admission against the interests of any member of the Remainco Group or
the Spinco Group or any of their respective Affiliates. The inclusion of any item or liability or category of item or liability
on any Exhibit or Schedule is made solely for purposes of allocating potential liabilities among the Parties and shall not be deemed
as or construed to be an admission that any such liability exists.

 

Section 4.13       
Governing Law; Jurisdiction; Specific Performance; Remedies. This Agreement shall be governed by,
and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable
principles of conflicts of laws thereof; provided, however, the Parties acknowledge that the conveyances, assignments, subleases
and licenses will be governed by the law of the jurisdiction in which the Owned Property and Leased Property is located, as applicable.
In any Legal Proceeding between any of the Parties arising out of or relating to this Agreement or any of the transactions contemplated
hereby: (a) each of the Parties irrevocably and unconditionally consents and submits to the exclusive jurisdiction and venue of
the Court of Chancery of the State of Delaware or, if under applicable Legal Requirements, the Court of Chancery does not have
subject matter jurisdiction over such matter, in any federal court in the State of Delaware or, if under applicable Legal Requirements,
neither such court has subject matter jurisdiction over such matter, in any other state court in the State of Delaware, and in
each case any appellate court with jurisdiction therefrom (the “Chosen Courts”); (b) each of the Parties
irrevocably waives the right to trial by jury; and (c) each of the Parties irrevocably and unconditionally waives, and agrees
not to assert, by way of motion or as a defense, counterclaim or otherwise, any claim (i) that it is not personally subject to
the jurisdiction of the Chosen Courts as described herein for any reason; (ii) that it or its property is exempt or immune
from jurisdiction of any such court or from any legal process commenced in such courts; and (iii) that (x) the claim, action,
suit or other Legal Proceeding in any such court is brought in an inconvenient forum; (y) the venue of such claim, action,
suit or other Legal Proceeding is improper; or (z) this Agreement, the Ancillary Agreements, or the subject matter hereof
or thereof, may not be enforced in or by such courts. Each of the Parties further agrees that, to the fullest extent permitted
by applicable Legal Requirements, service of any process, summons, notice or document in accordance with the provisions of Section
4.4 will be effective service of process for any claim, action, suit or other Legal Proceeding in the Chosen Courts, with respect
to any matters to which it has submitted to jurisdiction as set forth in this paragraph. The Parties hereby agree that a final
judgment in any such claim, suit, action or other Legal Proceeding will be conclusive, subject to any appeal, and may be enforced
in other jurisdictions by suit on the judgment or in any other manner provided by applicable Legal Requirements. The Parties agree
that irreparable damage would occur and that the Parties would not have any adequate remedy at law in the event that any of the
provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that the Parties shall be entitled to specific performance and injunctive or other equitable relief to prevent breaches
of this Agreement and to enforce specifically the terms and provisions of this Agreement without the requirement for the posting
of any bond, this being in addition to any other remedy to which they are entitled at law or in equity. All rights and remedies
existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

    11 

     

    

 

Section 4.14       
Severability. Any term or provision of this Agreement (or part thereof) that is invalid or unenforceable in any situation
in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions of this Agreement or
the validity or enforceability of the offending term or provision (or part thereof) in any other situation or in any other jurisdiction.
If a final judgment of a court of competent jurisdiction declares that any term or provision of this Agreement (or part thereof)
is invalid or unenforceable, the Parties agree that the court making such determination shall have the power to limit such term
or provision (or part thereof), to delete specific words or phrases or to replace such term or provision with a term or provision
that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision
(or part thereof), and this Agreement shall be valid and enforceable as so modified. In the event such court does not exercise
the power granted to it in the prior sentence, the Parties agree to replace such invalid or unenforceable term or provision (or
part thereof) with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business
and other purposes of such invalid or unenforceable term or provision.

 

Section 4.15       
No Duplication; No Double Recovery. Nothing in this Agreement is intended to confer to or impose upon any Party
a duplicative recovery with respect to any matter arising out of the same facts and circumstances (including with respect to any
recoveries that may arise out of ARTICLE IV of the Separation Agreement).

 

Section 4.16       
Construction.

 

(a)         For purposes of this Agreement, whenever the context requires: the singular number shall include the plural, and vice versa;
the masculine gender shall include the feminine and neuter genders; the feminine gender shall include the masculine and neuter
genders; and the neuter gender shall include masculine and feminine genders.

 

(b)         The Parties agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting Party
shall not be applied in the construction or interpretation of this Agreement.

 

    12 

     

    

 

(c)         As used in this Agreement, unless otherwise specified, the words “include” and “including,” and
variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without
limitation.”

 

(d)         As used in this Agreement, the word “extent” in the phrase “to the extent” shall mean the degree
to which a subject or other thing extends, and such phrase shall not mean simply “if.”

 

(e)         As used in this Agreement, the terms “or,” “any” or “either” are not exclusive.

 

(f)          Except as otherwise indicated, all references in this Agreement to “Articles,” “Sections,” “Exhibits”
and “Schedules” are intended to refer to Sections or Articles of this Agreement and Exhibits or Schedules to this Agreement.

 

(g)         As used in this Agreement, the terms “hereunder,” “hereof,” “hereto,” “herein”
and words of similar import shall be deemed to refer to this Agreement as a whole and not to any particular Section or other provision.

 

(h)         The headings contained in this Agreement are for convenience of reference only, shall not be deemed to be a part of this
Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement.

 

(i)          Any payment to be made pursuant hereto shall be made in U.S. dollars and by wire transfer of immediately available funds.

 

(j)          Unless the context requires otherwise, references in this Agreement to “Remainco” shall also be deemed to refer
to the applicable member of the Remainco Group, references to “Spinco” shall also be deemed to refer to the applicable
member of the Spinco Group and, in connection therewith, any references to actions or omissions to be taken, or refrained from
being taken, as the case may be, by Remainco or Spinco shall be deemed to require Remainco or Spinco, as the case may be, to cause
the applicable members of the Remainco Group or the Spinco Group, respectively, to take, or refrain from taking, any such action.
In the event of any inconsistency or conflict which may arise in the application or interpretation of any of the definitions set
forth in Section 1.1, for the purpose of determining what is and is not included in such definitions, any item explicitly
included on a Schedule referred to in any such definition shall take priority over any provision of the text thereof.

 

[signature page follows]

 

    13 

     

    

 

IN WITNESS WHEREOF,
each of the Parties hereto has caused this Real Estate Matters Agreement to be executed on its behalf by its officers thereunto
duly authorized on the day and year first above written.

 

	 	REXNORD CORPORATION	 
	 	 	 	 
	 	By:	/s/ Todd A. Adams 	 
	 	 	Name: Todd A. Adams	 
	 	 	Title: President and Chief Executive Officer	 

 

	 	LAND NEWCO, INC.	 
	 	 	 	 
	 	By:	/s/ Todd A. Adams 	 
	 	 	Name: Todd A. Adams	 
	 	 	Title: President	 

 

[Signature Page to Real Estate Matters
Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
each of the Parties hereto has caused this Real Estate Matters Agreement to be executed on its behalf by its officers thereunto
duly authorized on the day and year first above written.

 

	 	REGAL BELOIT CORPORATION	 
	 	 	 	 
	 	By:	/s/ Louis V. Pinkham 	 
	 	 	Name: Louis V. Pinkham	 
	 	 	Title: Chief Executive Officer	 

 

[Signature Page to Real Estate Matters
Agreement]

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