Document:

Second Amendment to Credit Agreement

 Exhibit 10.01 

 SECOND AMENDMENT TO CREDIT AGREEMENT 
 Dated as of August 31, 2006 
 among 
 TORCHMARK CORPORATION 
 as the Borrower, 
 TMK RE, LTD. 
 as a Loan Party, 
 BANK OF AMERICA, N.A., 
 as Administrative Agent, Swing Line Lender and L/C Issuer,

 JPMORGAN CHASE BANK, N.A., 
 KEYBANK NATIONAL ASSOCIATION, 
 REGIONS BANK, 
 SUNTRUST BANK, 
 WACHOVIA BANK, NATIONAL ASSOCIATION 
 as Co-Syndication Agents 
 and 
 The Other Lenders Party Hereto 
  

 BANC OF AMERICA SECURITIES LLC, 
 and

 J.P. MORGAN SECURITIES INC. 
 as

 Joint Lead Arrangers and Joint Book Managers 

 SECOND AMENDMENT TO CREDIT AGREEMENT 
 THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Second Amendment”), dated as of August 31, 2006, is entered into among TORCHMARK
CORPORATION, a Delaware corporation (the “Borrower”), TMK RE LTD., a Bermuda reinsurance corporation (“TMK”), the lenders listed on the signature pages hereof as Lenders (the “Lenders”), and BANK OF
AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 
 BACKGROUND 
 A. The Borrower, the Lenders, the Administrative Agent, the Swing Line Lender and the L/C Issuer are parties to that certain Credit Agreement, dated as
of November 18, 2004, as amended by that certain First Amendment to Credit Agreement, dated as of June 9, 2006 (said Credit Agreement, as amended, the “Credit Agreement”). The terms defined in the Credit Agreement and not
otherwise defined herein shall be used herein as defined in the Credit Agreement. 
 B. The Borrower has requested to extend the Maturity
Date. In addition, AmSouth Bank (the “Decreasing Lender”) is decreasing its Commitment, and Wachovia Bank, National Association (successor to SouthTrust Bank) and Wells Fargo Bank, N.A. (collectively, “Increasing
Lenders”) are increasing their respective Commitments. 
 C. The Lenders, the Administrative Agent, the Swing Line Lender and the
L/C Issuer hereby agree to amend the Credit Agreement, subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, in
consideration of the covenants, conditions and agreements hereafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are all hereby acknowledged, the Borrower, the Lenders, the Swing Line Lender, the L/C
Issuer and the Administrative Agent covenant and agree as follows: 
 1. AMENDMENTS. 
 (a) The definition of “Co-Syndication Agents” set forth in Section 1.01 of the Credit Agreement is hereby amended to read as
follows: 
 “Co-Syndication Agents” means, collectively, JPMorgan Chase Bank, N.A., KeyBank National
Association, Regions Bank, SunTrust Bank and Wachovia Bank, National Association 
 (b) The definition of “Maturity Date”
set forth in Section 1.01 of the Credit Agreement is hereby amended to read as follows: 
 “Maturity
Date” means (a) August 31, 2011 or (b) such earlier date as (i) the Obligations become due and payable pursuant to this Agreement (whether by acceleration, prepayment in full, scheduled reduction or otherwise) or
(ii) there shall exist an Event of Default under Section 8.01(f) of this Agreement. 
  

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 (c) Schedule 2.01 to the Credit Agreement is hereby amended to be in the form of Schedule
2.01 to this Second Amendment, and the Commitment and Applicable Percentage of each Lender, after giving effect to this Second Amendment, are hereby set forth on such Schedule 2.01. 
 2. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its execution and delivery hereof, the Borrower represents and warrants that, as
of the date hereof: 
 (a) the representations and warranties contained in the Credit Agreement and the other Loan Documents are true and
correct on and as of the date hereof as made on and as of such date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date;

 (b) no event has occurred and is continuing which constitutes a Default or an Event of Default; 
 (c) (i) each of the Borrower and TMK has full power and authority to execute and deliver this Second Amendment, (ii) the Borrower has full
power and authority to execute the Revolving Note payable to the order of the Decreasing Lender and each Increasing Lender (collectively, the “Replacement Notes”), (iii) this Second Amendment has been duly executed and
delivered by each of the Borrower and TMK, (iv) the Replacement Notes have been duly executed and delivered by the Borrower, and (v) (A) this Second Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid
and binding obligations of each of the Borrower and TMK, and (B) the Replacement Notes constitute the legal, valid and binding obligation of the Borrower, and in the case of each of (A) and (B) above, enforceable in accordance with
their respective terms, except as enforceability may be limited by applicable Debtor Relief Laws and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law) and except as rights to indemnity
may be limited by federal or state securities laws; 
 (d) neither the execution, delivery and performance of this Second Amendment, the
Replacement Notes or the Credit Agreement, as amended hereby, nor the consummation of any transactions contemplated herein or therein, will conflict with any Law or Organization Documents of the Borrower or TMK, or any indenture, agreement or other
instrument to which the Borrower or TMK or any of their respective property is subject; and 
 (e) no authorization, approval, consent, or
other action by, notice to, or filing with, any Governmental Authority or other Person not previously obtained is required for the execution, delivery or performance by (i) the Borrower or TMK of this Second Amendment or (ii) the Borrower
of the Replacement Notes. 
 3. CONDITIONS TO EFFECTIVENESS. This Second Amendment shall be effective upon satisfaction or completion
of the following: 
 (a) the Administrative Agent shall have received counterparts of this Second Amendment executed by the Lenders;

  

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 (b) the Administrative Agent shall have received counterparts of this Second Amendment executed by each
of the Borrower and TMK; 
 (c) the Administrative Agent shall have received a certified resolution of the Board of Directors of (i) the
Borrower and TMK authorizing the execution, delivery and performance of this Second Amendment and (ii) the Borrower authorizing the execution, delivery and performance of the Replacement Notes; 
 (d) the Administrative Agent shall have received an opinion of counsel to the Borrower and TMK, in form and substance satisfactory to the Administrative
Agent, with respect to matters set forth in Sections 2(c), (d) and (e) of this Second Amendment; 
 (e) the Administrative Agent
shall have received a duly executed Replacement Note for each Increasing Lender and the Decreasing Lender; and 
 (f) the Administrative
Agent shall have received, in form and substance satisfactory to the Administrative Agent and its counsel, such other documents, certificates and instruments as the Administrative Agent shall reasonably require. 
 4. LENDER SETTLEMENT. Subject to the satisfaction of the conditions of effectiveness set forth in Section 3 hereof, to the extent that there
are any Outstanding Amounts under the Credit Agreement on the date that this Second Amendment becomes effective, (a) each Increasing Lender shall purchase and the Decreasing Lender shall sell, without recourse, an amount of Revolving Loans
outstanding such that after giving effect to this Second Amendment the amount of outstanding Revolving Loans of each Increasing Lender and the Decreasing Lender shall be in the amount of its Applicable Percentage after giving effect to this Second
Amendment and (b) each Increasing Lender’s and the Decreasing Lender’s participation in any outstanding Swing Line Loans and L/C Obligations shall be in accordance with its respective Applicable Percentage after giving effect to this
Second Amendment. If as a result of any purchase or sale of a Revolving Loan under this Section 4 any payment of a Eurodollar Rate Loan occurs on a day which is not the last day of an applicable Interest Period, the Borrower will pay to the
Administrative Agent for the benefit of any Lender holding a Eurodollar Rate Loan any loss, cost or expense incurred by such Lender resulting therefrom in accordance with Section 3.5 of the Credit Agreement. 
 5. REFERENCE TO THE CREDIT AGREEMENT. 
 (a) Upon the effectiveness of this Second Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, or words of like import shall mean and be a reference to the Credit Agreement, as affected and
amended hereby. 
 (b) The Credit Agreement, as amended by the amendments referred to above, shall remain in full force and effect and is
hereby ratified and confirmed. 
 6. COSTS, EXPENSES AND TAXES. Each Loan Party agrees to pay on demand all reasonable costs and
expenses of the Administrative Agent in connection with the preparation, reproduction, execution and delivery of this Second Amendment and the other 

  

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instruments and documents to be delivered hereunder (including the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with
respect thereto). 
 7. EXECUTION IN COUNTERPARTS. This Second Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument. For purposes of this Second
Amendment, a counterpart hereof (or signature page thereto) signed and transmitted by any Person party hereto to the Administrative Agent (or its counsel) by facsimile machine, telecopier or electronic mail is to be treated as an original. The
signature of such Person thereon, for purposes hereof, is to be considered as an original signature, and the counterpart (or signature page thereto) so transmitted is to be considered to have the same binding effect as an original signature on an
original document. 
 8. GOVERNING LAW; BINDING EFFECT. This Second Amendment shall be governed by and construed in accordance with
the laws of the State of Texas applicable to agreements made and to be performed entirely within such state, provided that each party shall retain all rights arising under federal law, and shall be binding upon the parties hereto and their
respective successors and assigns. 
 9. HEADINGS. Section headings in this Second Amendment are included herein for convenience of
reference only and shall not constitute a part of this Second Amendment for any other purpose. 
 10. ENTIRE AGREEMENT. THE CREDIT
AGREEMENT, AS AMENDED BY THIS SECOND AMENDMENT, AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 REMAINDER OF PAGE LEFT INTENTIONALLY BLANK 
  

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 IN WITNESS WHEREOF, this Second Amendment is executed as of the date first set forth above. 

 

					
	TORCHMARK CORPORATION
		
	By:	 	/s/ Michael J. Klyce
		 	Name:	 	Michael J. Klyce
		 	Title:	 	Vice President and Treasurer

  

					
	TMK RE, LTD.
		
	By:	 	/s/ Michael J. Klyce
		 	Name:	 	Michael J. Klyce
		 	Title:	 	Assistant Treasurer

  

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	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	/s/ Angela Lau
		 	Name:	 	Angela Lau
		 	Title:	 	Assistant Vice President

  

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	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	By:	 	/s/ Jason Cassity
		 	Name:	 	Jason Cassity
		 	Title:	 	Vice President

  

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	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	/s/ Erin O’Rourke
		 	Name:	 	Erin O’Rourke
		 	Title:	 	Vice President

  

 9 

					
	KEYBANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	/s/ Mary K. Young
		 	Name:	 	Mary K. Young
		 	Title:	 	Senior Vice President

  

 10 

					
	REGIONS BANK, as a Lender
		
	By:	 	/s/ Brook H. Balough
		 	Name:	 	Brook H. Balough
		 	Title:	 	Senior Vice President

  

 11 

					
	SUNTRUST BANK, as a Lender
		
	By:	 	/s/ Kelly Gunter
		 	Name:	 	Kelly Gunter
		 	Title:	 	Vice President

  

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	 THE BANK OF NEW YORK, as a Lender

		
	 By:
	 	 /s/ Richard G. Shaw

		 	 Name:
	 	 Richard G. Shaw

		 	 Title:
	 	 Vice President

  

 13 

					
	HSBC BANK USA, NATIONAL
ASSOCIATION, as a Lender
		
	 By:
	 	 /s/ Daniel G. Serrao

		 	 Name:
	 	 Daniel G. Serrao

		 	 Title:
	 	 Senior Vice President

  

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	WACHOVIA BANK, NATIONAL
ASSOCIATION, as a Lender
		
	 By:
	 	 /s/ W. Spencer Ragland

		 	 Name:
	 	 W. Spencer Ragland

		 	 Title:
	 	 Senior Vice President

  

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	 AMSOUTH BANK, as a Lender

		
	 By:
	 	 /s/ David A. Simmons

		 	 Name:
	 	 David A. Simmons

		 	 Title:
	 	 Senior Vice President

  

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	 COMERICA BANK, as a Lender

		
	 By:
	 	 /s/ Mark B. Glover

		 	 Name:
	 	 Mark B. Glover

		 	 Title:
	 	 First Vice President

  

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	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as a Lender
		
	 By:
	 	/s/ Thomas W. Doddridge
		 	Name:	 	Thomas W. Doddridge
		 	Title:	 	Vice President

  

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	 COMPASS BANK, as a Lender

		
	 By:
	 	 /s/ A. Alex Morton

		 	 Name:
	 	 A. Alex Morton

		 	 Title:
	 	 Senior Vice President

  

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	 FIRST COMMERCIAL BANK, as a Lender

		
	 By:
	 	 /s/ James W. Brunstad

		 	 Name:
	 	 James W. Brunstad

		 	 Title:
	 	 Senior Vice President

  

 20 

					
	 UMB BANK, n.a., as a Lender

		
	 By:
	 	 /s/ David A. Proffitt

		 	 Name:
	 	 David A. Proffitt

		 	 Title:
	 	 Senior Vice President

  

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 SCHEDULE 2.01 
 COMMITMENTS 
 AND APPLICABLE PERCENTAGES 
  

							
	 Lender
	  	Commitment	  	Applicable
Percentage	 
	 Bank of America, N.A.
	  	$	60,000,000.00	  	10.000000000	%
	 JPMorgan Chase Bank, N.A.
	  	$	60,000,000.00	  		
		  			  	10.000000000	%
	 KeyBank National Association
	  	$	55,000,000.00	  	9.166666667	%
	 Regions Bank
	  	$	55,000,000.00	  	9.166666667	%
	 SunTrust Bank
	  	$	55,000,000.00	  	9.166666667	%
	 Wachovia Bank, National Association
	  	$	55,000,000.00	  	9.166666667	%
	 Wells Fargo Bank, National Association
	  	$	45,000,000.00	  	7.500000000	%
	 The Bank of New York
	  	$	45,000,000.00	  	7.500000000	%
	 HSBC Bank USA, National Association
	  	$	45,000,000.00	  	7.500000000	%
	 Comerica Bank
	  	$	40,000,000.00	  	6.666666667	%
	 Compass Bank
	  	$	40,000,000.00	  	6.666666667	%
	 AmSouth Bank
	  	$	25,000,000.00	  	4.166666667	%
	 First Commercial Bank
	  	$	10,000,000.00	  	1.666666667	%
	 UMB Bank, n.a.
	  	$	10,000,000.00	  	1.666666667	%
			
	 Total
	  	$	600,000,000.00	  	100.000000000	%

 Schedule 2.01 to Second AmendmentSTERIS Corporation Deferred Compensation Plan Document

 Exhibit 10.1 
 STERIS CORPORATION DEFERRED COMPENSATION PLAN 
 PLAN DOCUMENT 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	Section 1.	  	Purpose:	  	1
			
	Section 2.	  	Definitions:	  	1
			
	2.1  	  	“Active Participant”	  	1
			
	2.2  	  	“Adoption Agreement”	  	1
			
	2.3  	  	“Beneficiary”	  	2
			
	2.4  	  	“Board”	  	2
			
	2.5  	  	“Change in Control”	  	2
			
	2.6  	  	“Committee”	  	2
			
	2.7  	  	“Compensation”	  	2
			
	2.8  	  	“Crediting Date”	  	2
			
	2.9  	  	“Deferred Compensation Account”	  	2
			
	2.10	  	“Disabled”	  	3
			
	2.11	  	“Education Account”	  	3
			
	2.12	  	“Effective Date”	  	3
			
	2.13	  	“Employee”	  	3
			
	2.14	  	“Employer”	  	4
			
	2.15	  	“Employer Credits”	  	4
			
	2.16	  	“In-Service Account”	  	4
			
	2.17	  	“Normal Retirement Age”	  	4
			
	2.18	  	“Participant”	  	4
			
	2.19	  	“Participant Deferral Agreement”	  	4
			
	2.20	  	“Participant Deferral Credits”	  	4
			
	2.21	  	“Participating Employer”	  	4
			
	2.22	  	“Performance-Based Compensation”	  	5
			
	2.23	  	“Plan”	  	5
			
	2.24	  	“Plan Administrator”	  	5
			
	2.25	  	“Plan-Approved Domestic Relations Order”	  	5
			
	2.26	  	“Plan Year”	  	7
			
	2.27	  	“Qualifying Distribution Event”	  	7
			
	2.28	  	“Retirement”	  	7
			
	2.29	  	“Retirement Account”	  	7
			
	2.30	  	“Service”	  	8
			
	2.31	  	“Service Bonus”	  	8
			
	2.32	  	“Specified Employee”	  	8
			
	2.33	  	“Spouse” or “Surviving Spouse”	  	8
			
	2.34	  	“STERIS”	  	8
			
	2.35	  	“Student”	  	8
			
	2.36	  	“Trust”	  	8
			
	2.37	  	“Trustee”	  	9
			
	2.38	  	“Years of Service”	  	9
			
	Section 3.	  	Participation:	  	9

  

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 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	Section 4.	  	Credits to Deferred Compensation Account:	  	9
			
	4.1	  	Participant Deferral Credits	  	9
			
	4.2	  	Employer Credits	  	11
			
	4.3	  	Deferred Compensation Account	  	11
			
	Section 5.	  	Qualifying Distribution Events:	  	11
			
	5.1	  	Separation from Service	  	11
			
	5.2	  	Disability	  	12
			
	5.3	  	Death	  	12
			
	5.4	  	In-Service Distributions	  	12
			
	5.5	  	Education Distributions	  	13
			
	5.6	  	Change in Control	  	14
			
	Section 6.	  	Qualifying Distribution Events Payment Options:	  	14
			
	6.1	  	Payment Options	  	14
			
	6.2	  	De Minimis Amounts	  	15
			
	6.3	  	Subsequent Elections	  	16
			
	6.4	  	Acceleration Prohibited	  	16
			
	Section 7.	  	Vesting:	  	16
			
	Section 8.	  	Accounts; Deemed Investment; Adjustments to Account:	  	17
			
	8.1	  	Accounts	  	17
			
	8.2	  	Deemed Investments	  	17
			
	8.3	  	Adjustments to Deferred Compensation Account	  	18
			
	Section 9.	  	Administration by Committee:	  	18
			
	9.1	  	General	  	18
			
	9.2	  	Conflicts of Interest	  	18
			
	9.3	  	Correction of Errors	  	19
			
	9.4	  	Authority to Interpret Plan	  	19
			
	9.5	  	Third-Party Advisors	  	19
			
	9.6	  	Expense Reimbursement	  	19
			
	9.7	  	Indemnification	  	19
			
	Section 10.	  	Contractual Liability; Trust:	  	20
			
	10.1	  	Contractual Liability	  	20
			
	10.2	  	Trust	  	21
			
	Section 11.	  	Allocation of Responsibilities:	  	21
			
	11.1	  	Board	  	21
			
	11.2	  	Committee	  	21
			
	11.3	  	Plan Administrator	  	22

  

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 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	Section 12.	  	Benefits Not Assignable; Facility of Payments:	  	22
			
	12.1	  	Benefits Not Assignable	  	22
			
	12.2	  	Payments to Minors and Others	  	23
			
	Section 13.	  	Beneficiary:	  	23
			
	Section 14.	  	Amendment and Termination of Plan:	  	24
			
	14.1	  	Termination in the Discretion of STERIS	  	24
			
	14.2	  	Termination Upon Change in Control	  	25
			
	14.3	  	No Financial Triggers	  	25
			
	Section 15.	  	Communication to Participants:	  	25
			
	Section 16.	  	Claims Procedure:	  	25
			
	16.1	  	Filing of a Claim for Benefits	  	25
			
	16.2	  	Notification to Claimant of Decision	  	25
			
	16.3	  	Procedure for Review	  	26
			
	16.4	  	Decision on Review	  	27
			
	16.5	  	Action by Authorized Representative of Claimant	  	27
			
	Section 17.	  	Miscellaneous Provisions:	  	27
			
	17.1	  	Set off	  	27
			
	17.2	  	Notices	  	28
			
	17.3	  	Reliance on Data	  	28
			
	17.4	  	Receipt and Release for Payments	  	28
			
	17.5	  	Headings	  	28
			
	17.6	  	Continuation of Employment	  	29
			
	17.7	  	Construction	  	29

  

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 STERIS CORPORATION DEFERRED COMPENSATON PLAN 
 Section 1. Purpose: 
 By execution of the Adoption Agreement, STERIS has adopted the Plan set forth herein to provide a means by which certain management Employees of the Participating Employers may elect to defer receipt of current Compensation from the
Participating Employer in order to provide retirement and other benefits on behalf of such Employees of the Participating Employer, as selected in the Adoption Agreement. The Plan is intended to be a nonqualified deferred compensation plan that
complies with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). The Plan is intended to be an unfunded plan maintained primarily for the purpose of providing deferred
compensation benefits for a select group of management or highly compensated employees under Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974. 
 Section 2. Definitions: 
 As used in the Plan, including this Section 2, references to one gender shall include the other and, unless otherwise indicated by the context: 
 2.1 “Active Participant” means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant immediately
upon a determination by the Committee that the Participant has ceased to be an Employee, or that the Participant no longer meets the eligibility requirements of the Plan. 
 2.2 “Adoption Agreement” means the written agreement pursuant to which STERIS adopts the Plan. The Adoption Agreement is a part of the Plan as applied to STERIS. 

 2.3 “Beneficiary” means the person, persons, entity or entities designated or determined
pursuant to the provisions of Section 13 of the Plan. 
 2.4 “Board” means the Board of Directors of STERIS and, to the
extent of any delegation by the Board of Directors to the Compensation and Corporate Governance Committee of the Board of Directors or any other Committee of the Board of Directors (or subcommittee thereof) pursuant to this Plan or pursuant to the
charter of any such Committee or otherwise, such Committee (or subcommittee). 
 2.5 “Change in Control” shall mean a change
of control of STERIS as defined for purposes of Section 409A of the Code, including regulations and administrative guidance promulgated thereunder. 
 2.6 “Committee” means the persons designated as such in the Adoption Agreement, as applicable. If the Committee is unable to serve, STERIS shall satisfy the duties of the Committee provided for in
Section 9. 
 2.7 “Compensation” shall have the meaning designated in the Adoption Agreement. 
 2.8 “Crediting Date” means the date designated in the Adoption Agreement for crediting the amount of any Participant Deferral Credits to
the Deferred Compensation Account of a Participant. Employer Credits may be credited to the Deferred Compensation Account of a Participant on any day that securities are traded on a national securities exchange. 
 2.9 “Deferred Compensation Account” means the account maintained with respect to each Participant under the Plan. Each
Participant’s Deferred Compensation Account shall contain a separate class year subaccount (each a “Class Year Subaccount”) to reflect the credits and debits associated with the Participant Deferral Credits made to the Plan pursuant
to each year’s deferral election. The Deferred Compensation Account shall be credited with 
  

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 Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and
adjusted for payments in accordance with the rules and elections in effect under Section 8. The Class Year Subaccount of a Participant shall include any In-Service Account or Education Account of the Participant, if so elected in the Adoption
Agreement. 
 2.10 “Disabled” means a Participant who is unable to engage in any substantial gainful activity by reason of
any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or is, by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan
covering employees of a Participating Employer. 
 2.11 “Education Account” means a separate account to be kept for each
Participant that has elected to take education distributions as described in Section 5.5. The Education Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in
accordance with the rules and elections in effect under Section 8. 
 2.12 “Effective Date” shall be the date
designated in the Adoption Agreement as of which the Plan first becomes effective. 
 2.13 “Employee” means an individual in
the Service of the Participating Employer if the relationship between the individual and the Participating Employer is the legal relationship of employer and employee and if the individual is a highly compensated or management employee of the
Participating Employer and excludes non-resident aliens with no U.S. source income. An individual shall cease to be an Employee no later than such time as such individual incurs a termination of Service. 
  

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 2.14 “Employer” means STERIS and each other Participating Employer, and each trade or
business (whether or not incorporated) that is required to be aggregated with STERIS under rules similar to subsections (b) and (c) of Section 414 of the Code. 
 2.15 “Employer Credits” means the amounts credited to the Participant’s Deferred Compensation Account pursuant to the provisions of
Section 4.2. 
 2.16 “In-Service Account” means a separate account within a Class Year Subaccount to be kept for each
Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in
accordance with the rules and elections in effect under Section 8. 
 2.17 “Normal Retirement Age” of a Participant
means the age designated as such in the Adoption Agreement. 
 2.18 “Participant” means with respect to any Plan Year an
Employee who has been designated by the Committee as a Participant and who has entered the Plan or who has a Deferred Compensation Account under the Plan. 
 2.19 “Participant Deferral Agreement” means a written agreement entered into between a Participant and a Participating Employer pursuant to the provisions of Section 4.1. 
 2.20 “Participant Deferral Credits” means the amounts credited to the Participant’s Deferred Compensation Account and Class Year
Subaccounts therein pursuant to the provisions of Section 4.1. 
 2.21 “Participating Employer” means STERIS and any
trade or business (whether or not incorporated) which has been designated as a Participating Employer by STERIS or which adopts this Plan with the consent of STERIS. 
  

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 2.22 “Performance-Based Compensation” means compensation where the amount of, or
entitlement to, the compensation is contingent on the satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least twelve months in which the service provider performs services.
Organizational or individual performance criteria are considered pre-established if established in writing at least 90 days after the commencement of the period of service to which the criteria relates, provided that the outcome is substantially
uncertain at the time the criteria are established. Performance-based compensation may include payments based upon subjective performance criteria in accordance as provided in regulations and administrative guidance promulgated under
Section 409A of the Code. 
 2.23 “Plan” means the STERIS Corporation Deferred Compensation Plan, as herein set out or
as duly amended. 
 2.24 “Plan Administrator” means the person designated as such in the Adoption Agreement. 
 2.25 “Plan-Approved Domestic Relations Order” shall mean a court order that is lawfully directed to this Plan and that is served upon
the Plan Administrator before the Participant receives a distribution of his benefit that pursuant to a state domestic relations law creates or recognizes the existence of the right of an alternate payee to receive all or a portion of a
Participant’s benefit and that meets all of the following requirements. An order shall not be a Plan-Approved Domestic Relations Order unless the Plan Administrator determines that the court order on its face and without reference to any other
document states all of the following: 
 (a) The court order expressly states that it relates to the provision of child support, alimony, or
marital property rights to a spouse, former spouse, or child of a Participant and is made pursuant to State domestic relations law. 
  

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 (b) The court order clearly and unambiguously specifies that it refers to this Plan. 
 (c) The court order clearly and unambiguously specifies the name of the Participant’s Employer. 
 (d) The court order clearly specifies: the name, mailing address, and social security number of the Participant; and the name, mailing address, and
social security number of each alternate payee. 
 (e) The court order clearly specifies the amount or percentage, or the manner in which the
amount or percentage is to be determined, of the Participant’s benefit to be paid to or segregated for the separate account of the alternate payee. 
 (f) The court order expressly states that the alternate payee’s segregated account shall bear all fees and expenses as though the alternate payee were a Participant. 
 (g) The court order clearly specifies that any distribution to the alternate payee becomes payable only after a Qualifying Distribution Event of the
Participant and only upon the alternate payee’s written claim made to the Plan Administrator. 
 (h) The court order clearly specifies
that any distribution to any alternate payee shall be payable only as a lump sum. 
 (i) The court order expressly states that it does not
require this Plan to provide any type or form of benefit or any option not otherwise provided under this Plan. 
 (j) The court order
expressly states that the order does not require this Plan to provide increased benefits. 
 (k) The court order expressly states that any
provision of it that would have the effect of requiring any distribution to an alternate payee of deferred compensation that is required to be paid to another person under any court order is void. 
 (l) The court order expressly states that nothing in the order shall have any effect concerning any party’s tax treatment, and that nothing in the
order shall direct any person’s tax reporting or withholding. 
 An order shall not be a Plan-approved Domestic Relations Order if it
includes any provision that does not relate to this Plan. Without limiting the comprehensive effect of the preceding sentence, an order shall not be a Plan-Approved Domestic Relations Order if the order includes any provision relating to any pension
plan, retirement plan, deferred compensation plan, health plan, welfare benefit plan, or employee benefit plan other than this Plan. An order shall not be a Plan- 
  

 - 6 - 

 Approved Domestic Relations Order unless the order provides for only one alternate payee. An order shall not be a
Plan-Approved Domestic Relations Order if the order includes any provision that would permit the alternate payee to designate any beneficiary for any purpose. However, an order does not fail to qualify as a Plan-approved Domestic Relations Order
because it provides that any rights not paid before the alternate payee’s death shall be payable to the duly appointed and then-currently serving personal representative of the alternate payee’s estate. The Plan Administrator may assume
that the alternate payee named by the court order is a proper payee and need not inquire into whether the person named is a spouse or former spouse or child of the Participant. 
 2.26 “Plan Year” means the twelve-month period ending on the last day of the month designated in the Adoption Agreement; provided, that
the initial Plan Year may have fewer than twelve months. 
 2.27 “Qualifying Distribution Event” means (i) the
separation from Service of the Participant, (ii) the date the Participant becomes Disabled, (iii) the death of the Participant, (iv) to the extent permitted, the time specified by the Participant for an in-service or education
distribution, or (v) a Change in Control of STERIS, each as provided in Section 5. Distributions for unforseeable emergencies or similar occurrences are not permitted under the Plan. 
 2.28 “Retirement” means the attainment of age 65 and cessation of Service with all Employers. 
 2.29 “Retirement Account” means the portion of the Deferred Compensation Account of a Participant, excluding any In-Service Account or
any Education Account. The Retirement Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and regulations in effect under Section 8.

  

 - 7 - 

 2.30 “Service” means employment of a Participant by a Participating Employer as an
Employee. For purposes of the Plan, the employment relationship is treated as continuing intact while the Employee is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months, or if
longer, so long as the Employee’s right to reemployment is provided either by statute or contract. 
 2.31 “Service
Bonus” means any bonus paid to a Participant by the Participating Employer which is not Performance-Based Compensation. 
 2.32
“Specified Employee” means an employee who meets the requirements of Section 416(i)(1)(A)(i), (ii) or (iii) of the Code (applied in accordance with the regulations thereunder and without regard to Section 416(i)(5)
of the Code) at any time during the twelve-month period ending on December 31 of each year (the “identification date”). If the person is a key employee as of any identification date, the person is treated as a Specified Employee for
the twelve-month period beginning on the first day of the fourth month following the identification date. 
 2.33 “Spouse”
or “Surviving Spouse” means, except as otherwise provided in the Plan, a person who is the legally married spouse or surviving spouse of a Participant. 
 2.34 “STERIS” means STERIS Corporation, an Ohio corporation. 
 2.35
“Student” means the individual designated by the Participant in the Participant Deferral Agreement with respect to whom the Participant will create an Education Account, if applicable. 
 2.36 “Trust” means the trust fund established pursuant to Section 10.2, if designated by STERIS in the Adoption Agreement.

  

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 2.37 “Trustee” means the trustee, if any, named in the agreement establishing the Trust
and such successor or additional trustee as may be named pursuant to the terms of the agreement establishing the Trust. 
 2.38
“Years of Service” means each Plan Year of Service completed by the Participant. For vesting purposes, Years of Service shall be calculated from the date designated in the Adoption Agreement. 
 Section 3. Participation: 
 The Committee in its discretion shall designate each Employee who is eligible to participate in the Plan. Participation for any Plan Year shall be limited to Employees who are employed at salary grade level “H” or above by one or
more of the Participating Employers and who will have an annual base salary of $100,000 or above during such Plan Year. An Employee designated by the Committee as a Participant who has not otherwise entered the Plan shall enter the Plan and become a
Participant as of the date determined by the Committee. A Participant who separates from Service with the Employer and who later returns to Service will not be an Active Participant under the Plan except upon satisfaction of such terms and
conditions as the Committee shall establish upon the Participant’s return to Service, whether or not the Participant shall have a balance remaining in the Deferred Compensation Account under the Plan on the date of the return to Service. A
Participant who separates from Service will cease to be a Participant at such time as he or she no longer has a Deferred Compensation Account under the Plan. 
 Section 4. Credits to Deferred Compensation Account: 
 4.1 Participant Deferral
Credits. To the extent provided in the Adoption Agreement, each year each Active Participant may elect, by entering into a Participant Deferral Agreement with a Participating Employer, to defer the receipt of Compensation from the Participating
Employer by a percentage specified in the Participant Deferral Agreement. The 
  

 - 9 - 

 amount of the Participant Deferral Credit shall be credited to the respective Class Year Subaccount of the Deferred
Compensation Account maintained for the Participant pursuant to Section 8. The following special provisions shall apply with respect to the Participant Deferral Credits of a Participant: 
 4.1.1 The respective Class Year Subaccount of the Participant’s Deferred Compensation Account shall be credited on each Crediting
Date an amount equal to the total Participant Deferral Credit for the period ending on such Crediting Date. 
 4.1.2 An
election pursuant to this Section 4.1 shall be made by the Participant by executing and delivering a Participant Deferral Agreement to the Committee. Except as otherwise provided in this Section 4.1, each such election shall be effective
(i) for the calendar year next following the date such Participant Deferral Agreement is received by the Committee with respect to base salary, as defined in Section 2.7(f) of the Adoption Agreement, that is paid with respect to services
provided in that calendar year, and (ii) for the fiscal year of the Employer that commences in the calendar year next following the date such Participant Deferral Agreement is received by the Committee with respect to commissions and bonuses
that are paid with respect to services performed in that fiscal year. A Participant’s election may be changed at any time prior to the last permissible date for making the election as permitted in this Section 4.1, and shall thereafter be
irrevocable. 
 4.1.3 In the case of the first year in which the Participant becomes eligible to participate in the Plan, the
Participant may execute and deliver a Participant Deferral Agreement to the Committee within 30 days after the date the Participant enters the Plan to be effective as of the first administratively practicable payroll period next following the date
the Participant Deferral Agreement is received by the Committee. For Compensation that is earned based upon a specified performance period (for example, an annual bonus), where a deferral election is made in the first year of eligibility but after
the beginning of the service period, the election will be deemed to apply to Compensation paid for services subsequent to the election if the election applies to the portion of the Compensation equal to the total amount of the Compensation for the
service period multiplied by the ratio of the number of days remaining in the performance period after the election over the total number of days in the performance period. 
 4.1.4 A Participant may unilaterally modify a Participant Deferral Agreement (either to terminate, increase or decrease the portion of his
future Compensation which is subject to deferral within the percentage limits set forth in Section 4.1 of the Adoption Agreement) by providing a written modification of the Participant Deferral Agreement to the Committee. The modification shall
become effective as of the first day of January following the date such written modification is received by the Committee. 
 4.1.5 Notwithstanding other provisions to the contrary, if permitted by the Committee, if the Participant performed services continuously from a date no later than 
  

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 the date upon which the performance criteria are established through a date no earlier than the date upon
which the Participant makes an initial deferral election, a Participant Deferral Agreement relating to the deferral of Performance-Based Compensation may be executed and delivered to the Committee no later than the date which is 6 months prior to
the end of the performance period, provided that in no event may an election to defer Performance-Based Compensation be made after such Compensation has become both substantially certain to be paid and readily ascertainable. 
 4.1.6 Except as may be provided by Section 4.1.5, if the Participating Employer has a fiscal year other than the calendar year,
Compensation relating to service in the fiscal year of the Participating Employer (such as a bonus based on the fiscal year of the Participating Employer), of which no amount is paid or payable during the fiscal year, may be deferred at the
Participant’s election only if the election to defer is made not later than the close of the Participating Employer’s fiscal year next preceding the first fiscal year in which the Participant performs any services for which such
Compensation is payable. 
 4.1.7 Compensation payable after the last day of the Participant’s taxable year solely for
services provided during the final payroll period containing the last day of the Participant’s taxable year (i.e., December 31) is treated for purposes of this Section 4.1 as Compensation for services performed in the subsequent
taxable year. 
 4.1.8 The Committee may from time to time establish policies or rules consistent with the requirements of
Section 409A of the Code to govern the manner in which Participant Deferral Credits may be made. 
 4.2 Employer Credits. As
designated by STERIS in the Adoption Agreement, the Deferred Compensation Accounts of Active Participants will be credited with Employer Credits as determined in accordance with the Adoption Agreement. 
 4.3 Deferred Compensation Account. All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of
the Participant. 
 Section 5. Qualifying Distribution Events: 
 5.1 Separation from Service. If the Participant separates from Service with the Employer, the vested balance in the Deferred Compensation Account
shall be paid to the Participant by STERIS as provided in Section 6. Notwithstanding the foregoing, no distribution triggered solely by a separation from Service shall be made earlier than six months after the date of separation from Service
(or, if earlier, the date of death) with respect to a Participant who is a 
  

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 Specified Employee of a corporation the stock in which is traded on an established securities market or otherwise. Any
payments to which a Specified Employee would be entitled during the first six months following the date of separation from Service shall be accumulated and paid on the first day of the seventh month following the date of separation from service.

 5.2 Disability. If the Participant becomes Disabled while in Service, the vested balance in the Deferred Compensation Account shall
be paid to the Participant by STERIS as provided in Section 6. 
 5.3 Death. If the Participant dies while in Service, STERIS
shall pay a benefit to the Participant’s Beneficiary in the amount designated in the Adoption Agreement. Payment of such benefit shall be made by STERIS as provided in Section 6. If a Participant dies following his separation from Service
for any reason, and before all payments under the Plan have been made, the vested balance in the Deferred Compensation Account shall be paid by STERIS to the Participant’s Beneficiary in a single lump sum. 
 5.4 In-Service Distributions. If STERIS designates in the Adoption Agreement that in-service distributions are permitted under the Plan, a
Participant may designate in a Participant Deferral Agreement to have a specified amount credited to the Participant’s In-Service Account within a relevant Class Year Subaccount for in-service distributions at the later of the date specified by
the Participant or as specified in the Adoption Agreement. In no event may an in-service distribution be made prior to two years following the establishment of the In-Service Account within a relevant Class Year Subaccount of the Participant. If the
Participant elects to receive in-service distributions in annual installment payments, the payment of each annual installment shall be made on the anniversary of the date of the first installment payment, and the amount of the annual installment
shall be adjusted on such anniversary for credits or debits to the Participant’s Class Year Subaccount pursuant to Section 8 of the Plan. Such 
  

 - 12 - 

 adjustment shall be made by dividing the balance in the In-Service Account of the relevant Class Year Subaccount on such
date by the number of annual installments remaining to be paid hereunder; provided that the last annual installment due under the Plan shall be the entire amount credited to the Participant’s In-Service Account of the relevant Class Year
Subaccount on the date of payment. Notwithstanding the foregoing, if a Participant incurs a Qualifying Distribution Event prior to the date on which the entire balance in the In-Service Account of the relevant Class Year Subaccount has been
distributed, then the balance in the In-Service Account of the relevant Class Year Subaccount on the date of the Qualifying Distribution Event shall be distributed to the Participant in the same manner and at the same time as the balance in the
Deferred Compensation Account is distributed under Section 6 and in accordance with the rules and elections in effect under Section 6. 
 5.5 Education Distributions. If STERIS designates in the Adoption Agreement that education distributions are permitted under the Plan, a Participant may designate in the Participant Deferral Agreement to have a specified amount
credited to the Participant’s Education Account for education distributions at the later of the date specified by the Participant or the date specified in the Adoption Agreement. If the Participant designates more than one Student, the
Education Account will be divided into a separate Education Account for each Student, and the Participant may designate in the Participant Deferral Agreement the percentage or dollar amount to be credited to each Education Account. In the absence of
a clear designation, all credits made to the Education Account shall be equally allocated to each Education Account. STERIS shall pay to the Participant the balance in the Education Account with respect to the Student at the time and in the manner
designated by the Participant in the Participant Deferral Agreement. If the Participant elects to receive education distributions in annual installment payments, the payment of each annual installment shall be made on the anniversary of the date of

  

 - 13 - 

 the first installment payment, and the amount of the annual installment shall be adjusted on such anniversary for credits
or debits to the Participant’s Education Account pursuant to Section 8 of the Plan. Such adjustment shall be made by dividing the balance in the Education Account on such date by the number of annual installments remaining to be paid
hereunder; provided that the last annual installment due under the Plan shall be the entire amount credited to the Participant’s Education Account on the date of payment. Notwithstanding the foregoing, if the Participant incurs a Qualifying
Distribution Event prior to the date on which the entire balance of the Education Account has been distributed, then the balance in the Education Account on the date of the Qualifying Distribution Event shall be distributed to the Participant in the
same manner and at the same time as the Deferred Compensation Account is distributed under Section 6 and in accordance with the rules and elections in effect under Section 6. 
 5.6 Change in Control. If STERIS designates in the Adoption Agreement that distributions are permitted under the Plan in the event of a Change in
Control, the Participant may designate in a Participant Deferral Agreement to have the vested balance in the Class Year Subaccount of the Deferred Compensation Account associated with such Participant Deferral Agreement paid to the Participant upon
a Change in Control as provided in Section 6. 
 Section 6. Qualifying Distribution Events Payment Options:

 6.1 Payment Options. STERIS shall designate in the Adoption Agreement the payment options which may be elected by the
Participant. The Participant shall elect in each Participant Deferral Agreement the method under which the vested balance in the Class Year Subaccount of the Participant’s Deferred Compensation Account associated with that Participant Deferral
Agreement will be distributed from among the designated payment options. Payment shall be made in the manner elected by the Participant and shall commence upon the date of the Qualifying Distribution Event. A payment shall be treated as made upon
the date of the 
  

 - 14 - 

 Qualifying Distribution Event if it is made on such date or a later date within the same calendar year or, if later, by
the 15th day of the third calendar month following the Qualifying Distribution Event. A payment may be further
delayed to the extent permitted in accordance with regulations and guidance under Section 409A of the Code. The Participant may elect a different method of payment for each Qualifying Distribution Event as specified in the Adoption Agreement
and with respect to different Class Year Subaccounts. If the Participant elects the installment payment option, the payment of each annual installment shall be made on the anniversary of the date of the first installment payment, and the amount of
the annual installment paid from a specific Class Year Subaccount shall be adjusted on such anniversary for credits or debits to such Class Year Subaccount pursuant to Section 8 of the Plan. Such adjustment shall be made by dividing the balance
in the Class Year Subaccount in the Deferred Compensation Account on such date by the number of annual installments remaining to be paid hereunder from such Class Year Subaccount; provided that the last annual installment due under the Plan from
such Class Year Subaccount shall be the entire amount credited to the Participant’s Class Year Subaccount on the date of payment. In the event the Participant fails to make a valid election of the payment method, the distribution will be made
in a single lump sum payment upon the Qualifying Distribution Event. 
 6.2 De Minimis Amounts. Notwithstanding any payment election
made by the Participant, the vested balance in the Deferred Compensation Account of the Participant will be distributed in a single lump sum payment if the payment accompanies the termination of the Participant’s entire interest in the Plan and
the amount of such payment does not exceed the amount designated by STERIS in the Adoption Agreement. Such payment shall be made on or before the later of (i) December 31 of the calendar year in which the Participant separates from Service
from the Employer, or (ii) the date that is 2-1/2 months after the Participant separates from Service from the Employer. 
  

 - 15 - 

 6.3 Subsequent Elections. With the consent of the Committee, a Participant may delay or change the
method of payment of a Class Year Subaccount of the Deferred Compensation Account subject to the following requirements: 
 6.3.1 The new election may not take effect until at least 12 months after the date on which the new election is made. 
 6.3.2 If the new election relates to a payment for a Qualifying Distribution Event other than the death of the Participant or the Participant becoming Disabled, the new election must provide for the deferral of the first payment for a
period of at least five years from the date such payment would otherwise have been made. 
 6.3.3 If the new election relates
to a payment from the In-Service Account of the Class Year Subaccount or Education Account, the new election must be made at least 12 months prior to the date of the first scheduled payment from such account. 
 For purposes of this Section 6.3 and Section 6.4, a payment is each separately identified amount to which the Participant is entitled under the Plan; provided
that entitlement to a series of installment payments is treated as the entitlement to a single payment. 
 6.4 Acceleration
Prohibited. The acceleration of the time or schedule of any payment due under the Plan is prohibited except as provided in regulations and administrative guidance promulgated under Section 409A of the Code. It is not an acceleration of the
time or schedule of payment if STERIS waives or accelerates the vesting requirements applicable to a benefit under the Plan. 
 Section 7. Vesting: 
 A Participant shall be fully vested in the portion of his Deferred Compensation
Account attributable to Participant Deferral Credits, and all income, gains and losses attributable thereto. A Participant shall become fully vested in the portion of his Deferred Compensation Account attributable to Employer Credits, and income,
gains and losses attributable thereto, in 
  

 - 16 - 

 accordance with the vesting schedule and provisions designated by STERIS in the Adoption Agreement. If a
Participant’s Deferred Compensation Account is not fully vested upon separation from Service, the portion of the Deferred Compensation Account that is not fully vested shall thereupon be forfeited. 
 Section 8. Accounts; Deemed Investment; Adjustments to Account: 
 8.1 Accounts. The Committee shall establish a book reserve account, entitled the “Deferred Compensation Account,” on behalf of each
Participant. Each Participant’s Deferred Compensation Account shall contain one or more Class Year Subaccounts to reflect the credits and debits associated with the Participant Deferral Credits made to the Plan pursuant to each year’s
deferral election. The Committee shall also establish an In-Service Account and Education Account as a part of the Class Year Subaccount of each Participant, if applicable. The amount credited to the Deferred Compensation Account shall be adjusted
pursuant to the provisions of Section 8.3. 
 8.2 Deemed Investments. The Deferred Compensation Account of a Participant shall be
credited with an investment return determined as if the account were invested in one or more investment funds made available by the Committee. Each year the Participant shall elect the investment funds in which his respective Class Year Subaccount
in his Deferred Compensation Account shall be deemed to be invested. Such election shall be made in the manner prescribed by the Committee and shall take effect initially upon the entry of the Participant into the Plan. The investment election of
the Participant with respect to a Class Year Subaccount shall remain in effect with respect to that Class Year Subaccount until a new election is made by the Participant. In the event the Participant fails for any reason to make an effective
election of the investment return to be credited to a Class Year Subaccount, the investment return for such Class Year Subaccount shall be determined by the Committee. 
  

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 8.3 Adjustments to Deferred Compensation Account. With respect to each Participant who has a
Deferred Compensation Account under the Plan, the amount credited to such account shall be adjusted by the following debits and credits, at the times and in the order stated: 
 8.3.1 The Deferred Compensation Account shall be debited each business day with the total amount of any payments made from such account
since the last preceding business day to him or for his benefit. 
 8.3.2 The Deferred Compensation Account shall be credited
on each Crediting Date with the total amount of any Participant Deferral Credits and Employer Credits to such account since the last preceding Crediting Date. 
 8.3.3 The Deferred Compensation Account shall be credited or debited on each day securities are traded on a national stock exchange with
the amount of deemed investment gain or loss resulting from the performance of the investment funds elected by the Participant in accordance with Section 8.2. The amount of such deemed investment gain or loss, as finally determined by the
Committee, shall be final and conclusive upon all concerned. 
 Section 9. Administration by Committee: 

9.1 General. The Committee and the Plan Administrator shall have all authority to operate and administer the Plan and shall possess such powers
as are necessary or proper for such operation and administration. Subject to Section 11, the Committee and the Plan Administrator shall allocate responsibility for such operation and administration between themselves. 
 9.2 Conflicts of Interest. No individual member of the Committee shall have any right to vote or decide upon any matter relating solely to himself
or to any of his rights or benefits under the Plan (except that such member may sign unanimous written consent to resolutions adopted or other action taken without a meeting), except relating to the terms of his Participant Deferral Agreement.

  

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 9.3 Correction of Errors. The Committee may correct errors and, so far as practicable, may adjust
any benefit or credit or payment accordingly. The Committee may in its discretion waive any notice requirements in the Plan; provided, that a waiver of notice in one or more cases shall not be deemed to constitute a waiver of notice in any other
case. 
 9.4 Authority to Interpret Plan. Subject to the claims procedure set forth in Section 16 the Plan Administrator and the
Committee shall have the duty and discretionary authority to interpret and construe the provisions of the Plan and to decide any dispute which may arise regarding the rights of Participants hereunder, including the discretionary authority to
construe the Plan and to make determinations as to eligibility and benefits under the Plan. 
 9.5 Third-Party Advisors. The Committee
or the Plan Administrator may engage an attorney, accountant, actuary or any other technical advisor on matters regarding the operation of the Plan and to perform such other duties as shall be required in connection therewith, and may employ such
clerical and related personnel as the Committee or the Plan Administrator shall deem requisite or desirable in carrying out the provisions of the Plan. The Committee or the Plan Administrator shall from time to time, but no less frequently than
annually, review the financial condition of the Plan and determine the financial and liquidity needs of the Plan. The Committee or the Plan Administrator shall communicate such needs to the Employer so that its policies may be appropriately
coordinated to meet such needs. 
 9.6 Expense Reimbursement. The Committee shall be entitled to reimbursement by STERIS for its
reasonable expenses properly and actually incurred in the performance of its duties in the administration of the Plan. 
 9.7
Indemnification. No member of the Committee shall be personally liable by reason of any contract or other instrument executed by him or on his behalf as a member of the Committee nor for any mistake of judgment made in good faith, and the
Employer shall 
  

 - 19 - 

 indemnify and hold harmless, directly from its own assets (including the proceeds of any insurance policy the premiums
for which are paid from the Employer’s own assets), each member of the Committee and each other officer, employee, or director of the Employer to whom any duty or power relating to the administration or interpretation of the Plan may be
delegated or allocated, against any unreimbursed or uninsured cost or expense (including any sum paid in settlement of a claim with the prior written approval of the Board) arising out of any act or omission to act in connection with the Plan unless
arising out of such person’s own fraud, bad faith, willful misconduct or gross negligence. 
 Section 10. Contractual
Liability; Trust: 
 10.1 Contractual Liability. The obligation of STERIS to make payments hereunder shall constitute a
contractual liability of STERIS to the Participant. Such payments shall be made from the general funds of STERIS, and STERIS shall not be required to establish or maintain any special or separate fund, or otherwise to segregate assets to assure that
such payments shall be made, and the Participant shall not have any interest in any particular assets of STERIS by reason of its obligations hereunder. To the extent that any person acquires a right to receive payment from STERIS, such right shall
be no greater than the right of an unsecured creditor of STERIS. 
 10.1.1 Subject to the provisions of Section 10.1.2,
each Participating Employer shall be solely liable for and shall reimburse STERIS for the Participating Employer’s appropriate share of any funding necessary to provide benefits to its employees who are Participants under this Plan; 

10.1.2 Notwithstanding the foregoing, upon a transfer of employment among Participating Employers, any liability for the payment to or
on behalf of a Participant shall be transferred from the prior Participating Employer to the new Participating Employer. The last Participating Employer of the Participant shall be responsible for the payment hereunder after the Participant’s
Qualifying Distribution Event, whether liability for such payment accrued before or after the Participant’s transfer of employment to such Participating Employer. 
  

 - 20 - 

 10.2 Trust. If so designated in the Adoption Agreement, a Trust will be established by STERIS with
the Trustee, pursuant to such terms and conditions as are set forth in the Trust Agreement. The Trust, if and when established, is intended to be treated as a grantor trust for purposes of the Code and all assets of the Trust shall be held in the
United States. The establishment of the Trust is not intended to cause Participants to realize current income on amounts contributed thereto, and the Trust shall be so interpreted and administered. 
  

	 	Section	11. Allocation of Responsibilities: 

 The persons responsible for the Plan and the duties and responsibilities allocated to each are as follows: 
 11.1 Board.

 (i) To amend the Plan; 
 (ii) To terminate the Plan as permitted in Section 14; and 
 (iii) To perform such other
responsibilities as are otherwise specified herein. 
 11.2 Committee. 
 (i) To designate Participants; 
 (ii) To interpret the provisions of the Plan and to determine the rights of the Participants under the Plan, except to the extent otherwise provided in Section 16 relating to claims procedure; 
 (iii) To administer the Plan in accordance with its terms, except to the extent powers to administer the Plan are specifically delegated
to another person or persons as provided in the Plan; 
 (iv) To account for the amount credited to the Deferred Compensation
Account of a Participant; 
 (v) To direct STERIS in the payment of benefits; and 
 (vi) To perform such other responsibilities as may be allocated to it pursuant to Section 9 hereof or as are otherwise specified
herein. 
  

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 11.3 Plan Administrator. 
 (i) To file such reports as may be required with the United States Department of Labor, the Internal Revenue Service and any other
government agency to which reports may be required to be submitted from time to time; 
 (ii) To administer the claims
procedure to the extent provided in Section 16; and 
 (iii) To perform such other responsibilities as may be allocated
to it pursuant to Section 9 hereof or as are otherwise specified herein. 
 Each of the Board and the Committee may delegate to one or
more of its members or to one or more officers or employees of STERIS, or to one or more agents or advisors, such administrative duties or powers as it may deem advisable, and the Board, the Committee or any person to whom duties or powers have been
delegated as aforesaid, may employ one or more persons to render advice with respect to any responsibility the Board, the Committee or such person may have under the Plan. 
 Section 12. Benefits Not Assignable; Facility of Payments: 
 12.1 Benefits Not Assignable. Except as otherwise provided herein, no portion of any benefit credited or paid under the Plan with respect to any
Participant shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt so to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge the same shall be void,
nor shall any portion of such benefit be in any manner payable to any assignee, receiver or any one trustee, or be liable for his debts, contracts, liabilities, engagements or torts. Notwithstanding the foregoing, in the event that all or any
portion of the benefit of a Participant is transferred to the former spouse of the Participant incident to a divorce pursuant to a Plan Approved Domestic Relations Order, the Committee shall maintain such amount for the benefit of the former spouse
until distributed in the manner required by an order of any court having jurisdiction over the divorce, and the former spouse shall be entitled to the same rights as the Participant with respect to such benefit. 
  

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 12.2 Payments to Minors and Others. If any individual entitled to receive a payment under the Plan
shall be physically, mentally or legally incapable of receiving or acknowledging receipt of such payment, the Committee, upon the receipt of satisfactory evidence of his incapacity and satisfactory evidence that another person or institution is
maintaining him and that no guardian or committee has been appointed for him, may cause any payment otherwise payable to him to be made to such person or institution so maintaining him. Payment to such person or institution shall be in full
satisfaction of all claims by or through the Participant to the extent of the amount thereof. 
 Section 13.
Beneficiary: 
 The Participant’s beneficiary shall be the person or persons designated by the Participant on the beneficiary
designation form provided by and filed with the Committee or its designee. If the Participant does not designate a beneficiary, the beneficiary shall be his Surviving Spouse. If the Participant does not designate a beneficiary and has no Surviving
Spouse, the beneficiary shall be the Participant’s estate. The designation of a beneficiary may be changed or revoked only by filing a new beneficiary designation form with the Committee or its designee. If a beneficiary (the “primary
beneficiary”) is receiving or is entitled to receive payments under the Plan and dies before receiving all of the payments due him, the balance to which he is entitled shall be paid to the contingent beneficiary, if any, named in the
Participant’s current beneficiary designation form. If there is no contingent beneficiary, the balance shall be paid to the estate of the primary beneficiary. Any beneficiary may disclaim all or any part of any benefit to which such beneficiary
shall be entitled hereunder by filing a written disclaimer with the Committee before payment of such benefit is to be made. Such a disclaimer shall be made in a form satisfactory to the Committee and shall be irrevocable when filed. Any benefit
disclaimed shall be payable from the Plan in the same manner as if the beneficiary who filed the disclaimer had predeceased the Participant. 
  

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 Section 14. Amendment and Termination of Plan: 
 The Board may amend any provision of the Plan or terminate the Plan at any time; provided, that in no event shall such amendment or termination reduce the
balance in any Participant’s Deferred Compensation Account as of the date of such amendment or termination, nor shall any such amendment affect the terms of the Plan relating to the payment of such Deferred Compensation Account; and, provided,
further, that the Oversight Committee for the STERIS Corporation 401(k) Plan (the “Oversight Committee”) may amend the Plan to comply with any legislation, or any regulations, rulings, or other published guidance issued with respect to
such legislation, in order to maintain the Plan in compliance with the requirements of Section 409A of the Code and to make any other modifications which the Oversight Committee deems necessary or advisable and which either does not materially
affect the substance of the Plan or is otherwise required by the Internal Revenue Service in order for the Plan to continue to comply with Section 409A of the Code or for the Trust maintained for purposes of the Plan to continue to constitute a
“grantor trust” for purposes of the Code. Notwithstanding the foregoing, the following special provisions shall apply: 
 14.1
Termination in the Discretion of STERIS. Except as otherwise provided in Sections 14.2 or 14.3, STERIS in its discretion may terminate the Plan and distribute benefits to Participants subject to the following requirements: 
 14.1.1 All arrangements sponsored by the Employer that would be aggregated with the Plan under Section 1.409A-1(c) of the Treasury
Regulations are terminated. 
 14.1.2 No payments other than payments that would be payable under the terms of the Plan if the
termination had not occurred are made within 12 months of the termination date. 
  

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 14.1.3 All benefits under the Plan are paid within 24 months of the termination date.

 14.1.4 The Employer does not adopt a new arrangement that would be aggregated with the Plan under Section 1.409A-1(c)
of the Treasury Regulations providing for the deferral of compensation at any time within five years following the date of termination of the Plan. 
 14.2 Termination Upon Change in Control. If STERIS terminates the Plan within thirty days preceding or twelve months following a Change in Control of STERIS, the Deferred Compensation Account of each Participant shall become fully
vested and payable to the Participant in a lump sum within twelve months following the date of termination. 
 14.3 No Financial
Triggers. STERIS may not terminate the Plan and make distributions to a Participant due solely to a change in the financial health of the Employer. 
 Section 15. Communication to Participants: 
 STERIS shall make a copy of the Plan
available for inspection by Participants and their beneficiaries during reasonable hours at the principal office of STERIS. 
 Section 16. Claims Procedure: 
 The following claims procedure shall apply with respect to the Plan:

 16.1 Filing of a Claim for Benefits. If a Participant or beneficiary (the “claimant”) believes that he is entitled to
benefits under the Plan which are not being paid to him or which are not being accrued for his benefit, he shall file a written claim therefor with the Committee. In the event a member of the Committee shall be the claimant, all actions which are
required to be taken by the Committee pursuant to this Section 16 shall be taken instead by the remaining members of the Committee. 
 16.2 Notification to Claimant of Decision. Within 90 days after receipt of a claim by the Committee (or within 180 days if special circumstances require an extension of time), the Committee shall notify the claimant of the decision
with regard to the claim. In the 
  

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 event of such special circumstances requiring an extension of time, there shall be furnished to the claimant prior to
expiration of the initial 90-day period written notice of the extension, which notice shall set forth the special circumstances and the date by which the decision shall be furnished. If such claim shall be wholly or partially denied, notice thereof
shall be in writing and worded in a manner calculated to be understood by the claimant, and shall set forth: (i) the specific reason or reasons for the denial; (ii) specific reference to pertinent provisions of the Plan on which the denial
is based; (iii) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and (iv) an explanation of the procedure for
review of the denial and the time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under ERISA following an adverse benefit determination on review. Notwithstanding the forgoing, if the
claim relates to a distribution on the basis of a Participant being Disabled, the Committee shall notify the claimant of the decision within 45 days (which may be extended for an additional 30 days if required by special circumstances). 

16.3 Procedure for Review. Within 60 days following receipt by the claimant of notice denying his claim, in whole or in part, or, if such
notice shall not be given, within 60 days following the latest date on which such notice could have been timely given, the claimant shall appeal denial of the claim by filing a written application for review with the Committee. Following such
request for review, the Committee (or the Plan Administrator if the claim relates to a distribution on the basis of a Participant being Disabled) shall fully and fairly review the decision denying the claim. Prior to the decision of the Committee
(or the Plan Administrator, as the case may be), the claimant shall be given an opportunity to review pertinent documents and to submit issues and comments in writing. 
  

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 16.4 Decision on Review. The decision on review of a claim denied in whole or in part by the
Committee (or the Plan Administrator if the claim relates to a distribution on the basis of a Participant being Disabled) shall be made in the following manner: 
 16.4.1 Within 60 days following receipt by the Committee of the request for review (or within 120 days if special circumstances require an
extension of time), the Committee shall notify the claimant in writing of its decision with regard to the claim. In the event of such special circumstances requiring an extension of time, written notice of the extension shall be furnished to the
claimant prior to the commencement of the extension. Notwithstanding the forgoing, if the claim relates to a distribution on the basis of a Participant being Disabled, the Plan Administrator shall notify the claimant of the decision within 45 days
(which may be extended for an additional 45 days if required by special circumstances). 
 16.4.2 With respect to a claim that
is denied in whole or in part, the decision on review shall set forth specific reasons for the decision, shall be written in a manner calculated to be understood by the claimant, and shall cite specific references to the pertinent Plan provisions on
which the decision is based. 
 16.4.3 The decision of the Committee (or the Plan Administrator if the claim relates to a
distribution on the basis of a Participant being Disabled) shall be final and conclusive. 
 16.5 Action by Authorized Representative of
Claimant. All actions set forth in this Section 16 to be taken by the claimant may likewise be taken by a representative of the claimant duly authorized by him to act in his behalf on such matters. The Plan Administrator and the Committee
may require such evidence as either may reasonably deem necessary or advisable of the authority to act of any such representative. 
  

	 	Section	17. Miscellaneous Provisions: 

 17.1 Set off. Notwithstanding any other provision of this Plan, STERIS may reduce the amount of any payment otherwise payable to or on behalf of a Participant hereunder (net of any required withholdings) by the amount of any loan,
cash advance, extension of credit or other obligation of the Participant to the Employer that is then due and payable, and the Participant shall be deemed to have consented to such reduction. 
  

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 17.2 Notices. Each Participant who is not in Service and each Beneficiary shall be responsible for
furnishing the Committee or its designee with his current address for the mailing of notices and benefit payments. Any notice required or permitted to be given to such Participant or Beneficiary shall be deemed given if directed to such address and
mailed by regular United States mail, first class, postage prepaid. If any check mailed to such address is returned as undeliverable to the addressee, mailing of checks will be suspended until the Participant or beneficiary furnishes the proper
address. This provision shall not be construed as requiring the mailing of any notice or notification otherwise permitted to be given by posting or by other publication. 
 17.3 Reliance on Data. Each Employer, the Committee and the Plan Administrator shall have the right to rely on any data provided by the Participant or by any Beneficiary. Representations of such data shall be
binding upon any party seeking to claim a benefit through a Participant, and each Employer, the Committee and the Plan Administrator shall have no obligation to inquire into the accuracy of any representation made at any time by a Participant or
beneficiary. 
 17.4 Receipt and Release for Payments. Subject to the provisions of Section 17.1, any payment made from the Plan
to or with respect to any Participant or Beneficiary, or pursuant to a disclaimer by a Beneficiary, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Plan and each Employer with respect to the Plan. The
recipient of any payment from the Plan may be required by the Committee, as a condition precedent to such payment, to execute a receipt and release with respect thereto in such form as shall be acceptable to the Committee. 
 17.5 Headings. The headings and subheadings of the Plan have been inserted for convenience of reference and are to be ignored in any construction
of the provisions hereof. 
  

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 17.6 Continuation of Employment. The establishment of the Plan shall not be construed as
conferring any legal or other rights upon any Employee or any persons for continuation of employment, nor shall it interfere with the right of the Participating Employer or any other Employer to discharge any Employee or to deal with him without
regard to the effect thereof under the Plan. 
 17.7 Construction. STERIS shall designate in the Adoption Agreement the state
according to whose laws the provisions of the Plan shall be construed and enforced, except to the extent that such laws are superseded by ERISA and the applicable requirements of the Code. 
  

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