Document:

EX-10.2

 Exhibit 10.2 

FORM OF 

TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT (this “Agreement”) dated as of
[            ], 2016, between Emerson Electric Co., a Missouri corporation (together with its Affiliates, “Emerson”), and Vertiv Co., a
Delaware corporation (together with its Affiliates, “Vertiv”). 
 PRELIMINARY STATEMENT 

WHEREAS, the parties hereto have entered into a Separation and Distribution Agreement dated
[            ], 2016 (as amended from time to time, the “SDA”); 

WHEREAS, capitalized terms used herein but not defined shall have the meanings ascribed to them in the SDA; 

WHEREAS, pursuant to the SDA, Emerson and Vertiv have agreed to enter into this Agreement at the Effective Time in order to provide for
the provision of certain transitional services in connection with the separation of the NP Business from the Emerson Business to create Vertiv, a new company that shall operate the NP Business, upon the terms and subject to the conditions set forth
herein; and 
 WHEREAS, the party providing Services (as defined below) hereunder is referred to as “Provider” and
the party receiving Services hereunder is referred to as “Recipient.” 
 NOW, THEREFORE, in consideration of the
foregoing recitals and the mutual covenants, conditions, and agreements hereinafter expressed, the parties hereto agree as follows: 
 1.
Services to be Provided. 
 (a) During the Transition Period (as defined below) (or such shorter period as may be agreed
in writing with respect to any Services), Provider shall provide (or cause to be provided by an Affiliate or a Subcontractor in accordance with Section 1(c)) to Recipient the following services to be agreed in a writing delivered by Emerson to
Vertiv: (i) certain transitional administrative services described in such writing (the “Administrative Services”) and (ii) certain IT transition services described in such writing (the “IT Services”) ((i)
and (ii) collectively, the “Services”). The Services shall only be made available for, and Recipient shall only be entitled to utilize the Services for, the benefit of the operation of the NP Business or the Emerson Business,
as applicable. The standard for such services shall be as set forth in Section 3. 
 (b) The parties shall cooperate and use commercially
reasonable efforts to obtain any consents, permits or licenses from any third party that may be required in connection with the provision of the Services hereunder; provided that (i) Provider shall not be required to provide any Service
hereunder to the extent the provision of such Service is prevented by the failure, after the exercise of commercially reasonable efforts, to obtain any such consent, permit or license (in which case Provider shall provide Recipient reasonable notice
and an opportunity to obtain such consent, permit or license) and (ii) Provider shall not be required to pay to any such third party any amounts to obtain any such consents, permits or licenses. 

 (c) Except for those of the IT Services as set forth in the writing describing such services,
Provider may not, without Recipient’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed), directly or through one or more Affiliates, hire or engage one or more subcontractors or other third parties
(each, a “Subcontractor”) to perform any or all of Provider’s obligations to provide Services under this Agreement; provided, that the foregoing will not restrict Provider’s ability to provide Services through one
or more of its Affiliates; provided, further, that Provider may, without such consent, hire or engage one or more Subcontractors to the extent such Subcontractor is performing such Services as of the date hereof or has provided such
Services on behalf of or to the NP Business or the Emerson Business, as applicable, at any time during the twelve-month period preceding the date hereof; provided, further, that Provider shall remain ultimately responsible for ensuring that
the obligations set forth in this Agreement are satisfied with respect to any Service provided by any Subcontractor. 
 (d) Management of,
and control over, the provision of the Services provided hereunder (including the determination or designation at any time of the equipment, employees and other resources of Provider, its Affiliates or any Subcontractor engaged in accordance with
Section 1(c) to be used in connection with the provision of such Services) shall reside solely with Provider. Without limiting the generality of the foregoing, except as provided in the writing describing the Services delivered concurrently
herewith, all labor matters relating to any employees of Provider, its Affiliates and any Subcontractor shall be within the exclusive control of such entity, and Recipient shall not have any rights with respect to, such matters. Except as provided
in the writing describing the Services delivered concurrently herewith, Provider shall be solely responsible for the payment of all salary and benefits and all Taxes (including income tax, social security taxes, unemployment compensation,
workers’ compensation tax, other employment taxes or withholdings) and premiums and remittances with respect to employees used to provide any Services hereunder. 

(e) Except to the extent such materials constitute NP Assets or assets of a member of the Vertiv Group (if Provider is an Affiliate of
Emerson) or Emerson Assets or assets of a member of the Emerson Group (if Provider is an Affiliate of Vertiv), all procedures, methods, systems, strategies, tools, equipment, facilities and other resources used by Provider, its Affiliates, or any
Subcontractor in connection with the provision of Services (other than any such items being the property of Recipient that are provided by Recipient to Provider to facilitate Provider’s provision of the Services to Recipient) hereunder shall
remain the property of Provider, its Affiliates or such Subcontractor and shall at all times be under the sole direction and control of Provider, its Affiliates or such Subcontractor. 

(f) From time to time during the term of this Agreement, each of Vertiv and Emerson may request the other party (i) to provide additional
(including as to volume, amount, level or frequency, as applicable) or different services which the other party is not expressly obligated to provide under this Agreement if such services are of the type and scope provided by the Emerson Group
and/or the Vertiv Group, on the one hand, to the Emerson Group and the Vertiv Group, on the other hand, or vice-versa, in each case during twelve months preceding the date hereof, (ii) expand the scope of any Service or (iii) expand the
duration for which any Service is provided (such additional or expanded services, the “Additional Services”). The 

  
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party receiving such request for Additional Services shall consider such request in good faith and shall notify the requesting party as promptly as practicable as to whether it will or will not
provide the Additional Services; provided that no party shall be obligated to provide any Additional Service unless and until the parties agree on the terms therefor. 

2. Consideration for Services. 

(a) The Recipient of Services shall pay to Provider of such Services the fee for such Services (or category of Services, as applicable) as
provided in the writing describing the Services delivered concurrently herewith, which fee shall be no less than the actual cost to Provider of providing such Services plus a reasonable margin (each such fee constituting a “Service
Charge”) as set forth in the writing describing the Services delivered concurrently herewith. During the term of this Agreement, the amount of a Service Charge for any Service (or category of Services, as applicable) shall not increase,
except to the extent such costs and amounts increase for other Emerson businesses (if Provider is Emerson or an Affiliate of Emerson) or Vertiv businesses (if Provider is Vertiv or an Affiliate of Vertiv) using the same service at the same location
or changes in actual compensation and benefits costs. Out-of-pocket costs paid to any third-party provider that is providing goods or services used by Provider in providing the Services (e.g., license costs for software) will be, and will be charged
to Recipient at the actual third-party cost or amount of Taxes so imposed. 
 (b) Provider shall deliver invoices to Recipient on a monthly
basis. Provider agrees to afford Recipient, upon reasonable notice not to be less than two (2) business days, access to such information, records and documentation of Provider as Recipient may reasonably request in order to verify any invoices
and charges for Services hereunder or additional out-of-pocket costs as set forth in Section 2(a). 
 (c) Recipient shall pay the
undisputed amounts of such invoice by wire transfer to Provider within thirty (30) days of the date of receipt of such invoice to the account specified by Provider; provided that, at Provider’s sole option, with respect to Services
rendered outside the United States, payments may be required to be made in local currency. If Recipient fails to pay such amount by such date, Recipient shall be obligated to pay to Provider, in addition to the amount due, interest at the rate of
the then prevailing 30-day LIBOR plus 5%, compounded monthly, accruing from the date the payment was due through the date of actual payment. 

(d) Recipient shall pay the full undisputed amounts of the Service Charges and shall not set-off, counterclaim or otherwise withhold such
amounts owed to Provider under this Agreement. If Recipient disputes, in good faith, any portion of Provider’s invoice, Recipient shall provide written notice (the “Dispute Notice”) to Provider’s Representative (as defined
below) of such disputed amount setting forth the nature and basis therefor in reasonable detail and, to the extent available, with supporting documentation. All claims with respect to disputed amounts must be submitted to Provider within ten
(10) Business Days of receipt of the applicable invoice. Thereafter, the parties’ respective Representatives will use commercially reasonable efforts to resolve any and all disputed amounts, including without limitation the payment terms
thereof, within a 30-day period following the date of receipt of the Dispute Notice. If the parties fail to resolve the dispute within such 30-day period, their Representatives will agree on a national accounting firm to resolve the dispute, which
resolution shall be final and binding on the parties. 

  
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 3. Standard for Service. Except as otherwise provided in this Agreement or in the
writing describing the Services delivered concurrently herewith, Provider agrees to use its commercially reasonable efforts to perform each Service in all material respects in the same manner in terms of quality, care, level of priority and service
level as the same service was performed by or on behalf of the Emerson Business to the NP Business or the Emerson Business to the NP Business, as applicable, during the twelve-month period prior to the date hereof (or, if not so previously provided,
then in all material respects in the same manner in terms of quality, care, level of priority and service level as applicable to similar services provided by Provider). In the event there is any restriction on Provider under an existing contract
with a third party that would restrict the quality or standard of care applicable to delivery of a Service to be provided by Provider to Recipient, Provider shall use its commercially reasonable efforts in good faith to provide such Service in a
manner as close as possible to the standards described in this Section 3. Provider shall notify Recipient as soon as reasonably practicable of any expected or planned delay in performance or completion of Services. 

4. Taxes. 
 (a)
Incremental to any other payments, fees or charges in this Agreement, Recipient shall pay any Taxes imposed on, or payable with respect to, the provision of Services, including all applicable sales, use, value added and similar Taxes, but excluding
Taxes based on Provider’s net income. 
 (b) All sums payable under this Agreement shall be paid free and clear of all deductions or
withholdings unless the deduction or withholding is required by applicable law, in which event the amount of the payment due from the party required to make such payment shall be increased to an amount which after any withholding or deduction leaves
an amount equal to the payment which would have been due if no such deduction or withholding had been required. Provider shall, prior to the date of any payment to be made pursuant to this Agreement, at the request of Recipient, make commercially
reasonable efforts to provide Recipient any certificate or other documentary evidence (i) required by any Tax Law or (ii) which Provider is entitled by any Tax Law to provide in order to reduce the amount of any Taxes that may be deducted
or withheld from such payment and the Recipient agrees to accept and act in reliance on any such duly and properly executed or other applicable documentary evidence. 

5. Force Majeure. No party shall be responsible for a delay in delivery of any Service if prohibited by Law or caused by an act
of god or public enemy, war, terrorism, government acts or regulations, strike or labor dispute, fire, flood, embargo, quarantine, epidemic, unusually severe weather or other cause similar to the foregoing that is outside the reasonable control of
such party, in each case which is beyond such party’s reasonable control (a “Force Majeure Event”); provided, however, that such party notifies the other party as soon as reasonably practicable, in writing, upon
learning of the occurrence of a Force Majeure Event. Subject to compliance with the foregoing provision, a party’s obligations hereunder (except their 

  
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payment obligations in respect of Services already provided) shall be postponed for such time as its performance is suspended or delayed on account of such Force Majeure Event, and upon the
cessation of such Force Majeure Event, such party will use commercially reasonable efforts to mitigate and cause the Force Majeure Event to be abated and to resume its performance hereunder. 

6. Confidential and Proprietary Information and Rights. Recipient and Provider each acknowledge that any information
provided to or coming into the possession of the other pursuant to this Agreement will be governed by the confidentiality provisions of the SDA.  

7. Term and Termination. 

(a) The term of this Agreement (the “Transition Period”) shall commence at the Effective Time and continue with respect to
each of the Services for the term thereof, which term shall, unless otherwise agreed by Emerson and Vertiv in the writing describing the Services delivered concurrently herewith, terminate twelve (12) months following the Effective Time,
provided that Recipient may, by not less than sixty (60) days prior written notice to Provider, elect to extend the term of any Service for an additional three (3) month period; provided, further, that except as
otherwise specified in the writing describing the Services delivered concurrently herewith (i) Recipient may terminate one or more of the Administrative Services it receives at any time and for any reason on not less than thirty (30) days
prior written notice to Provider, (ii) Recipient may terminate one or more of the IT Services it receives at any time and for any reason on not less than ninety (90) days prior written notice to Provider and (iii) both parties may
terminate this Agreement with respect to one or more Services at any time upon mutual agreement. 
 (b) Notwithstanding the foregoing, each
party reserves the right to immediately terminate this Agreement by written notice to the other in the event that: 
 (i) the
other party breaches or is in default of any material obligation under this Agreement and such breach or default remains uncured for thirty (30) days after receipt of written notice from the non-breaching party; 

(ii) the other party shall (A) apply for or consent to the appointment of a receiver, trustee or liquidator,
(B) admit in writing a general inability to pay debts as they mature, (C) make a general assignment for the benefit of creditors, or (D) file a voluntary petition or have filed against it a petition (which is not dismissed within
sixty (60) days) for an order of relief under the federal bankruptcy code, as the same may be amended, so as to take advantage of any insolvency laws or to file an answer admitting the general obligations of an insolvency petition; or 

(iii) the other party shall have been prevented from exercising normal managerial control over all or any substantial part of
its property by any Person or agent or by reason of the entry of any order, judgment or decree by any court or governmental agency of competent jurisdiction approving a petition seeking the reorganization of such party, or appointment of a receiver,
trustee, liquidator or the like of such party or a substantial part of its assets. 

  
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 (c) Upon the effective date of termination of any Service pursuant to this Agreement, the
Provider of the terminated Service will have no further obligation to provide the terminated Service, and the relevant Recipient will have no obligation to pay any future Service Charges relating to any such Service; provided that Recipient
shall remain obligated to the relevant Provider for the Service Charges and any other fees, costs and expenses owed and payable in accordance with the terms of this Agreement in respect of Services provided prior to the effective date of
termination. Upon the effective date of termination of any Service pursuant to this Agreement, the relevant Provider shall reduce for the next monthly billing period the amount of the Service Charge for the category of Services in which the
terminated Service was included (such reduction to reflect the elimination of all costs incurred in connection with the terminated Service to the extent the same are not required to provide other Services to Recipient), and, upon request of
Recipient, Provider shall provide Recipient with documentation and/or information regarding the calculation of the amount of the reduction. In connection with termination of any Service, the provisions of this Agreement not relating solely to such
terminated Service shall survive any such termination. The termination of any license of any facility pursuant to this Agreement will be treated in a corresponding manner under this Section 7(c). 

(d) The failure of either party to terminate this Agreement for breach of any term or condition shall not constitute a waiver of such breach
and shall not affect such party’s right to terminate this Agreement by reason of subsequent breaches of the same or other terms or conditions. 

(e) Any termination of this Agreement with respect to any one or more Services shall not terminate this Agreement with respect to any other
Service then being provided pursuant to this Agreement. 
 (f) Notwithstanding anything to the contrary set forth herein, including any
extensions of this Agreement or of the period of performance of any particular Service, this Agreement cannot be extended beyond, and all Services shall terminate no later than, the date that is twenty-four (24) months from the date on which
the Effective Time occurred. 
 8. Limitation of Liability. 

(a) Provider may rely conclusively on, and will have no liability to Recipient for acting in accordance with, any notice or request (including
any request pursuant to Section 1(d) of this Agreement) which Recipient or those acting on its behalf provides to Provider in connection with the performance of the Services. 

(b) Limitation of Liability. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT, BUT SUBJECT TO SECTION 8(c) BELOW, NO PARTY
HERETO SHALL BE LIABLE FOR (I) ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL OR PUNITIVE OR EXEMPLARY DAMAGES (INCLUDING LOST OR 

  
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ANTICIPATED REVENUES OR PROFITS RELATING TO THE SAME) EXCEPT TO THE EXTENT THAT THE OTHER PARTY IS REQUIRED TO PAY ANY SUCH AMOUNTS TO A THIRD PARTY, IN EACH CASE ARISING FROM ANY CLAIM RELATING
TO THIS AGREEMENT OR ANY OF THE SERVICES PROVIDED HEREUNDER (INCLUDING DELIVERABLES ASSOCIATED THEREWITH), INCLUDING PERFORMANCE OR FAILURE TO PERFORM UNDER THIS AGREEMENT, OR (II) THE FURNISHING, PERFORMANCE, OR USE OF ANY GOODS OR SERVICES SOLD OR
PERFORMED, OR THE FAILURE TO SO FURNISH, PERFORM, OR USE SUCH GOODS OR SERVICES, PURSUANT HERETO, WHETHER BASED UPON AN ACTION OR CLAIM IN CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY), BREACH OF WARRANTY, OR OTHERWISE, EXCEPT IN THE
CASE OF GROSS NEGLIGENCE OR INTENTIONAL MISCONDUCT OF SUCH PARTY OR ITS AFFILIATES OR REPRESENTATIVES. FURTHER, WITHOUT LIMITING THE FIRST SENTENCE OF THIS SECTION 8(b), BUT SUBJECT TO SECTION 8(c) BELOW, EXCEPT IN THE CASE OF (I) FRAUD [OR
WILLFUL AND KNOWING BREACH OF SECTION 10] ([IN EACH CASE,] AS FINALLY DETERMINED BY A COURT OF COMPETENT JURISDICTION) OR (II) CLAIMS MADE UNDER SECTION 11, THE LIABILITY OF EITHER PARTY FOR ANY LOSS OR DAMAGE ARISING IN CONNECTION WITH PROVIDING
THE SERVICES HEREUNDER SHALL NOT EXCEED THE TOTAL AMOUNT BILLED OR BILLABLE TO THE OTHER PARTY UNDER THIS AGREEMENT. 
 (c) Obligation to
Correct. In the event of any breach of this Agreement by Provider with respect to any material error or defect in the provision of any individual Service, Provider shall, at Recipient’s request, correct such error or defect or re-perform
such Service in a timely manner as promptly as practical after Recipient’s request at the expense of Provider. 
 9. Access to
Records and Properties. Each party shall, during normal business hours and upon reasonable prior notice not less than two (2) Business Days, provide the other party with access to its books and records solely for the purposes of such
other party’s provision of the Services and solely to the extent necessary for such other party to provide the Services. Each Party shall also provide the other party physical access to computer and communications equipment at its facilities in
order to maintain or service such equipment and software including, without limitation, such access for a reasonable time following termination. 

10. Covenants. Provider and Recipient will not, and will ensure that their respective employees, officers, directors, Affiliates
and agents do not, make any use of or attempt to gain access to any part of the other party’s business systems and communications networks or to any data of the other party or its Affiliates not specifically made available to that party under
this Agreement. Provider and Recipient shall not introduce (i) any code, program, or script (devices) that, upon the occurrence or the non-occurrence of any event, will disable any system or application; (ii) to or through the other
party’s “network”, any worm, virus, trap door, back door, or any other contaminant or disabling devices; or (iii) any form of breach of security, data corruption or interruption into the other party’s “network.” If
a party has violated this covenant, then in addition to any direct damages to which the non-breaching party and/or its Affiliates may be entitled under law or equity, the breaching party will, to the non-breaching party’s reasonable
satisfaction, promptly take all commercially reasonable action and implement all necessary 

  
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procedures to prevent the reoccurrence of any such violation; failing which, the non-breaching party may terminate this Agreement upon three (3) days written notice (such notice to describe
the breach in reasonable detail); provided, however, that the breaching party shall have the opportunity to cure during the three-day notice period, to the non-breaching party’s reasonable satisfaction, any such violation. 

11. Indemnification. Except to the extent otherwise provided for in this Agreement, Recipient shall indemnify, defend and hold
harmless Provider and its Affiliates against, any Damages which Provider or its Affiliates may sustain or incur by reason of any claim, demand, suit or recovery allegedly arising out of the performance of the Services by Provider or any of its
Affiliates, except to the extent and solely to the extent such Damages are finally and judicially determined to be the direct result of the fraud or willful and knowing misconduct of Provider. 

12. Dispute Resolution. Except for disputed amounts with respect to invoices for Service Charges, which are governed by
Section 2(d) hereof, any dispute, controversy or claim (whether arising from contract, tort or otherwise) that may arise out of, relate to, arise under or in connection with, this Agreement or the transactions contemplated hereby will be
resolved in accordance with the procedures set forth in Article 8 of the SDA which shall apply to disputes arising under this Agreement mutatis mutandis. 

13. General Provisions. 

(a) Notice. All notices, requests, demands, and other communications required or permitted under this Agreement shall be in writing and
shall be deemed to have been duly given and made (i) when sent to a party by e-mail at the e-mail address specified below; (ii) upon being delivered by courier delivery to the party for whom it is intended at the address listed below; or
(iii) five (5) Business Days after having been deposited in the mail, certified or registered (with receipt requested) and postage prepaid, addressed at the address specified for notices in accordance with Section 10.01 of the SDA,
or, as applicable, using such other address, as may be designated in writing hereafter by such party. 
 (b) Representatives. Emerson
and Vertiv will each designate a qualified employee to serve as its principal representative (such party’s “Representative”) to coordinate and facilitate the provision of Services to the other party. Such employees designated
will be granted sufficient authority to resolve on behalf of Emerson and Vertiv all questions and problems arising with respect to the provision of Services to the other party. From the date hereof until further written notice to the other party,
the representative of Emerson shall be [                    ], and the representative of Vertiv shall be
[                    ]. Unless otherwise agreed by the parties in writing, all communications relating to this Agreement and the
Services will be made in accordance with Section 13(a). 
 (c) No Partnership, Joint-Venture Or Agency Created. The relationship
of Provider and Recipient shall be that of independent contractors only. Nothing in this Agreement shall be construed as making one party a partner, joint-venturer, agent or legal representative of the other or otherwise as having the power or
authority to bind the other in any manner. 

  
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 (d) Entire Agreement. This Agreement together with the writing describing the Services
delivered concurrently herewith, the SDA, the Schedules and Exhibits thereto, and the Ancillary Agreements embody the entire agreement and understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior and
contemporaneous agreements and understandings relating to such subject matter hereof and thereof. In the event of any conflict between this Agreement and the SDA, the terms of the SDA shall control. 

(e) Severability. If any provision hereof shall be held invalid or unenforceable by any court of competent jurisdiction or as a result
of future legislative action, such holding or action shall be strictly construed and shall not affect the validity or effect of any other provision hereof, as long as the remaining provisions, taken together, are sufficient to carry out the overall
intentions of the parties hereto as evidenced hereby. 
 (f) Assignment; Binding Agreement. This Agreement and various rights and
obligations arising hereunder shall inure to the benefit of and be binding upon the parties hereto and their successors and permitted assigns. Neither this Agreement nor any of the rights, interests, or obligations hereunder shall be transferred,
delegated, or assigned by either party without the prior written consent of the other party (which consent shall not be unreasonably withheld, conditioned or delayed). 

(g) Counterparts. This Agreement may be executed by facsimile or other digital means, simultaneously in multiple counterparts or in
separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 

(h) Expenses. Except as otherwise provided herein, all costs and expenses incurred in connection with this Agreement shall be paid by
the party incurring such cost or expense. 
 (i) Headings; Interpretation. The section headings contained in this Agreement are
inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement. Each reference in this Agreement to a Section, unless otherwise indicated, shall mean a Section of this Agreement. References herein to
“days,” unless otherwise indicated, are to consecutive calendar days. All parties hereto have participated substantially in the negotiation and drafting of this Agreement and agree that no ambiguity herein should be construed against the
draftsman. For the purposes of determining whether any amount of local currency exceeds or is less than any U.S. dollar amount referred to in this Agreement, the exchange rate prevailing on the relevant date (or, if the relevant date is not a
Business Day, on the immediately preceding Business Day) as published by the New York Times shall be used. References to a “corporation” or “company” shall be construed so as to include any corporation, company, or other body
corporate, wherever and however incorporated or established. 
 (j) Governing Law. This Agreement shall be governed by, and construed
in accordance with, the law of the State of Missouri, without regard to the conflicts of law rules thereof. 

  
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 (k) Submission to Jurisdiction. Subject to Section 12, each of the parties hereto
irrevocably submits to the exclusive jurisdiction of the circuit courts located in St. Louis County, Missouri and the United States District Court for the Eastern District of Missouri for the purposes of any suit, action or other proceeding arising
out of this Agreement or any transaction contemplated hereby. Each of the parties hereto agrees to commence any action, suit or proceeding relating hereto in the United States District Court for the Eastern District of Missouri or if such suit,
action or other proceeding may not be brought in such court for jurisdictional reasons, in the state courts located in St. Louis County, Missouri. Each of the parties hereto further agrees that service of any process, summons, notice or document by
U.S. registered mail to such party’s respective address for notice in accordance with Section 13(a) shall be effective service of process for any action, suit or proceeding in Missouri with respect to any matters to which it has submitted
to jurisdiction in this Section 13(k). Each of the parties hereto irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated
hereby in (i) the state courts located in St. Louis County, Missouri or (ii) the United States District Court for the Eastern District of Missouri, and hereby further irrevocably and unconditionally agrees not to plead or claim in any such
court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum or to raise any similar defense or objection. 

(l) Amendment and Waiver. Any provision of this Agreement may be amended or waived only if such amendment or waiver is in writing and
signed, in the case of an amendment, by each of the parties hereto, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right, power or privilege hereunder shall
operate as a waiver thereof. 
 (m) Disclosure Generally. All references to this Agreement herein or in any agreement contemplated
hereby shall be deemed to refer to this entire Agreement, including the writing describing the Services delivered concurrently herewith. 

(n) No Third Party Beneficiaries or Other Rights. Nothing herein shall grant to or create in any Person not a party hereto, or any such
Person’s Affiliates, any right to any benefits hereunder, and no such party shall be entitled to sue either party to this Agreement with respect thereto. 

(o) Survival. The parties hereby acknowledge and agree that the obligations of each party set forth in Sections 1(e), 4, 6, 7, 8, 10,
11, 12 and 13 hereof shall survive any termination of this Agreement. 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be duly executed as of the
day and year first above written. 
  

			
	EMERSON ELECTRIC CO.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	VERTIV CO.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 [Signature
Page—Transition Services Agreement]EX-10.3

 Exhibit 10.3 
  

 
  

FORM OF 
 EMPLOYEE MATTERS
AGREEMENT 
 DATED AS OF [●], 2016 

BY AND BETWEEN 
 EMERSON ELECTRIC
CO. 
 AND 
 VERTIV CO. 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
	 ARTICLE 1 Definitions
	  	 	1	  
	 Section 1.1.
	 	 Definitions
	  	 	1	  
		
	 ARTICLE 2 General Allocation of Liabilities; Certain Rights
	  	 	5	  
	 Section 2.1.
	 	 Allocation of Liabilities Generally
	  	 	5	  
	 Section 2.2.
	 	 Retention of Emerson Plans
	  	 	7	  
	 Section 2.3.
	 	 Satisfaction of Liabilities
	  	 	7	  
	 Section 2.4.
	 	 Assignment of Certain Rights
	  	 	7	  
	 Section 2.5.
	 	 Labor Relations
	  	 	7	  
		
	 ARTICLE 3 Employees
	  	 	7	  
	 Section 3.1.
	 	 Employee Transfers
	  	 	7	  
	 Section 3.2.
	 	 Leave of Absence Employees
	  	 	8	  
	 Section 3.3.
	 	 Offers of Employment
	  	 	9	  
	 Section 3.4.
	 	 Employee Records
	  	 	9	  
		
	 ARTICLE 4 Assumption of Plans and Collective Bargaining Agreements
	  	 	9	  
	 Section 4.1.
	 	 Plan Participation
	  	 	9	  
	 Section 4.2.
	 	 Service Credit
	  	 	9	  
	 Section 4.3.
	 	 Assumed Plans
	  	 	10	  
	 Section 4.4.
	 	 Assumption of Collective Bargaining Agreements
	  	 	10	  
	 Section 4.5.
	 	 WARN
	  	 	10	  
	 Section 4.6.
	 	 Employee Loans
	  	 	11	  
		
	 ARTICLE 5 Equity Awards
	  	 	11	  
	 Section 5.1.
	 	 Emerson Equity Plans
	  	 	11	  
	 Section 5.2.
	 	 Options
	  	 	11	  
	 Section 5.3.
	 	 Performance Shares
	  	 	11	  
		
	 ARTICLE 6 Qualified Plans, Supplemental Plans and Non-U.S. Retirement Plans
	  	 	12	  
	 Section 6.1.
	 	 401(k) Plans
	  	 	12	  
	 Section 6.2.
	 	 U.S. Defined Benefit Plans
	  	 	12	  
	 Section 6.3.
	 	 Supplemental Plan
	  	 	13	  
	 Section 6.4.
	 	 No Change in Control or Severance Event
	  	 	13	  
	 Section 6.5.
	 	 Sections 162(m) and 409A
	  	 	13	  
	 Section 6.6.
	 	 Non-U.S. Retirement Plans
	  	 	13	  
		
	 ARTICLE 7 Health and Welfare Plans
	  	 	14	  
	 Section 7.1.
	 	 Health and Welfare Plan Liabilities
	  	 	14	  
	 Section 7.2.
	 	 Post-Retirement Health and Life Insurance Benefits
	  	 	14	  
	 Section 7.3.
	 	 Paid Time Off
	  	 	15	  
	 Section 7.4.
	 	 Severance.
	  	 	15	  
		
	 ARTICLE 8 General Provisions
	  	 	16	  
	 Section 8.1.
	 	 Further Assurances
	  	 	16	  

  
 -i- 

							
	 Section 8.2.
	 	 Notices
	  	 	16	  
	 Section 8.3.
	 	 Amendments; No Waivers
	  	 	17	  
	 Section 8.4.
	 	 Expenses
	  	 	18	  
	 Section 8.5.
	 	 Successors and Assigns
	  	 	18	  
	 Section 8.6.
	 	 Disputes
	  	 	18	  
	 Section 8.7.
	 	 Governing Law
	  	 	18	  
	 Section 8.8.
	 	 Jurisdiction
	  	 	18	  
	 Section 8.9.
	 	 Counterparts; Effectiveness; Third-Party Beneficiaries; Corporate Power
	  	 	18	  
	 Section 8.10.
	 	 Entire Agreement
	  	 	19	  
	 Section 8.11.
	 	 Preservation of Rights to Amend
	  	 	19	  
	 Section 8.12.
	 	 Captions
	  	 	19	  
	 Section 8.13.
	 	 Severability
	  	 	19	  
	 Section 8.14.
	 	 Withholdings
	  	 	20	  
	 Section 8.15.
	 	 Survival
	  	 	20	  
	 Section 8.16.
	 	 Interpretation
	  	 	20	  
	 Section 8.17.
	 	 Specific Performance
	  	 	20	  
	 Section 8.18.
	 	 Performance
	  	 	20	  

  
 -ii- 

 EMPLOYEE MATTERS AGREEMENT 

EMPLOYEE MATTERS AGREEMENT, dated as of [            ], 2016 (this
“Agreement”), between EMERSON ELECTRIC CO., a Missouri corporation (“Emerson”), and VERTIV CO., a Delaware corporation (“Vertiv”). 

W I T N E S S E T H : 

WHEREAS, concurrently with the entry into this Agreement, Emerson and Vertiv are entering into a Separation and Distribution Agreement, dated
as of [            ], 2016 (the “Separation Agreement”), and certain other Transfer Documents (as defined in the Separation Agreement) setting forth certain transactions
that will be consummated in connection with, and are conditions to, the consummation of the Separation and the Distribution (each, as defined in the Separation Agreement); 

WHEREAS, in connection with the transactions contemplated by the Separation Agreement, Emerson and Vertiv are entering into this Agreement for
the purpose of allocating between them assets, liabilities and responsibilities with respect to certain employee matters, to the extent that such matters are not addressed in the Restructuring (as defined in the Separation Agreement) that will
precede the Distribution; and 
 WHEREAS, Emerson and Vertiv have agreed that, except as otherwise specifically provided herein, the general
approach and philosophy underlying this Agreement is to allocate assets, liabilities and responsibilities relating to compensation and benefits to Vertiv (as opposed to Emerson) to the extent they relate to employees primarily related to the NP
Business (as defined in the Separation Agreement); 
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties agree as follows: 

ARTICLE 1 
 Definitions

 Section 1.1. Definitions. (a) The following terms, as used herein, shall have the following meanings: 

“Applicable Transfer Time” means, in the case of (i) a TSA Employee, 11:59:59 p.m. on the relevant TSA Termination Date
and (ii) any other Vertiv Employee, the Effective Time. 
 “ARD TSA Employee” means any individual (i) who is
identified as such on the Employee Schedule or (ii) (A) who, as of immediately prior to the Effective Time, is Employed by the Emerson Group and devotes a majority of his or her working time to performing services on behalf of the NP
Business or a Transferred Entity, (B) whose services are provided or to be provided to the Vertiv Group pursuant to a Transition Services Agreement and (C) who, if 

 
Employed by the Emerson Group as of immediately prior to the applicable TSA Termination Date, will transfer to the Vertiv Group on such date automatically by operation of law pursuant to the
Transfer Regulations. 
 “Assumed Plan” means each Employee Benefit Plan that is contributed to, sponsored, maintained or
entered into by the Emerson Group and that is listed on Schedule 1.1(a). 
 “Completion Bonuses” means the amounts payable
to Vertiv Employees pursuant to completion letters entered into between Emerson and such employees in anticipation of the Distribution. 

“Emerson Employee” means each Person who, as of the Applicable Transfer Time, is not a Vertiv Employee and is employed by the
Emerson Group. 
 “Emerson Equity-Based Plans” means the 2006 Incentive Shares Plan, 2015 Incentive Shares Plan, 1998 Stock
Option Plan, 2001 Stock Option Plan and 2011 Stock Option Plan. 
 “Emerson Health and Welfare Plan” means any Emerson Plan
that provides for health or welfare benefits, including any health, medical, dental, vision, prescription, flexible spending, disability or life benefits, whether with respect to active, inactive or former employees. 

“Emerson Plan” means each Employee Benefit Plan that is sponsored, maintained or entered into by any member of the Emerson
Group. For the avoidance of doubt, no Vertiv Plan or Vertiv Collective Bargaining Agreement is an Emerson Plan. 

“Employed” means, with respect to an employee as of an applicable date of determination, that as of such date such employee
(i) is actively employed, (ii) is absent from work on account of paid time off, Garden Leave, vacation, sick or personal leave, short- or long-term disability or leave of absence (other than a leave of absence resulting from a reduction in
force or a “bridging” of age and/or service credit for purposes of an Employee Benefit Plan) or (iii) for whom an obligation to recall, rehire or otherwise return to employment exists under a contractual obligation or applicable Law.

 “Employee Benefit Plan” means each (i) “employee benefit plan” as defined in Section 3(3) of ERISA,
(ii) compensation, employment, consulting, severance, termination protection, change in control, transaction bonus, retention or similar plan, agreement, arrangement, program or policy or (iii) other plan, agreement, arrangement, program
or policy providing for compensation, bonuses, profit-sharing, equity or equity-based compensation or other forms of incentive or deferred compensation, vacation benefits, insurance (including any self-insured arrangement), medical, dental, vision,
prescription or fringe benefits, life insurance, relocation or expatriate benefits, perquisites, disability or sick leave benefits, employee assistance program, workers’ compensation, supplemental unemployment benefits or post-employment or
retirement benefits (including compensation, pension, health, medical or insurance benefits). 

  
 -2- 

 “Employee Schedule” means the schedule entitled “Employee Schedule” to
be provided by Emerson to Vertiv as of the most recent date practicable prior to the Effective Time. 
 “ERISA” means the
Employee Retirement Income Security Act of 1974, as amended. 
 “Former Business Employee” means, as of the Effective Time,
each former employee of the Emerson Group or the Vertiv Group who, as of immediately prior to termination of employment devoted a majority of his or her working time to performing services on behalf of the NP Business or a Transferred Entity. 

“Former Non-Business Employee” means, as of the Effective Time, each former employee of the Emerson Group or the Vertiv Group
who is not a Former Business Employee. 
 “Garden Leave” means an absence from active service at the request of an employer
during a statutory or contractual notice period preceding termination of employment. 
 “LOA Employee” means any
(i) Vertiv Employee who (A) is on an approved leave of absence as of the Applicable Transfer Time and (B) cannot be transferred to the Vertiv Group as of the Applicable Transfer Time due to restrictions imposed by applicable Law or
(ii) Emerson Employee who (A) is on an approved leave of absence as of the Applicable Transfer Time and (B) cannot be transferred to the Emerson Group as of the Applicable Transfer Time due to restrictions imposed by applicable Law.

 “LOA Return Deadline” means the date that is twelve (12) months after the Applicable Transfer Time. 

“Multiemployer Plans” means, collectively, (i) the plans listed on Schedule 1.1(b) and (ii) any other
“multiemployer plan” (as defined in Section 3(37) of ERISA) to which any Transferred Entity has any obligation to contribute. 

“Non-ARD TSA Employee” means any individual (other than an ARD TSA Employee) (i) who is identified as such on the
Employee Schedule or (ii) (A) who, as of immediately prior to the Effective Time, is Employed by the Emerson Group, (B) whose services are provided or to be provided to the Vertiv Group pursuant to a Transition Services Agreement, and
(C) who remains Employed by the Emerson Group and continues to provide services to the Vertiv Group pursuant to a Transition Services Agreement as of immediately prior to the applicable TSA Termination Date. 

“Restrictive Covenants” means all restrictive covenants, including covenants relating to non-disclosure, non-solicitation,
non-competition, confidentiality or trade secrets that are provided for or set forth in any Emerson Plan or Vertiv Plan and as to which any member of the Vertiv Group or the Emerson Group is the intended beneficiary. 

“Retained Benefit Plan” means any Business Benefit Plan that is not an Assumed Plan or a Transferred Entity Benefit Plan.

  
 -3- 

 “Special Cash Awards” means the amounts payable to Vertiv Employees pursuant to
special cash award agreements entered into between Emerson and such employees in anticipation of the Distribution. 
 “Specified
Emerson Rights” means any and all rights to enjoy, benefit from or enforce any and all Restrictive Covenants that are applicable or related, in whole or in part, to the Emerson Assets or any business of the Emerson Group following the
Effective Time. 
 “Specified Vertiv Rights” means any and all rights to enjoy, benefit from or enforce any and all
Restrictive Covenants that are applicable or related, in whole or in part, to the NP Assets or the NP Business following the Effective Time. 

“Transfer Regulations” means any law implementing Council Directive 77/187/EEC as amended by Council Directive 90/50/EC and
any similar legislation in any jurisdiction which provides for the automatic transfer of employment in the event of a transfer of a business or services. 

“Transferred Entity Benefit Plan” means each Employee Benefit Plan that is sponsored, maintained or entered into by a
Transferred Entity (including, for the avoidance of doubt, the Vertiv Collective Bargaining Agreements). 
 “Transition Services
Agreement” means any Transition Services Agreement to be entered into between a member of the Emerson Group and a member of the Vertiv Group. 

“Tri-Partite Agreement” means an agreement in a form satisfactory to Emerson among (a) a member of the Emerson Group,
(b) a member of the Vertiv Group and (c) a Vertiv Employee or Emerson Employee pursuant to which (i) such Vertiv Employee or Emerson Employee agrees (x) to the transfer of his or her employment to the Vertiv Group or Emerson
Group (as applicable) and (y) to waive any entitlement to severance or other termination-related payments or benefits in connection with such transfer and (ii) the Vertiv Group or Emerson Group (as applicable) agrees to make an offer to
employ such Vertiv Employee or Emerson Employee on terms which are sufficiently comparable under applicable Law to avoid severance being paid (including where appropriate recognizing accrued seniority or length of service). 

“TSA Employee” means any ARD TSA Employee or Non-ARD TSA Employee. 

“TSA Termination Date” means, with respect to a TSA Employee, the date on which the Emerson Group ceases to provide the
applicable services to the Vertiv Group pursuant to a Transition Services Agreement. 
 “Vertiv Collective Bargaining
Agreements” means the agreements listed on Schedule 1.1(c). 
 “Vertiv Employee” means any employee (i) who
is identified as such on the Employee Schedule, (ii) who is a TSA Employee, (iii) who devotes a majority of his or her working time to performing services on behalf of the NP Business or (iv) who is otherwise identified by the Parties
as being a Vertiv Employee. 

  
 -4- 

 “Vertiv Health and Welfare Plan” means any Vertiv Plan that provides for health
or welfare benefits, including any health, medical, dental, vision, prescription, flexible spending, disability or life benefits, whether with respect to active, inactive or former employees. 

“Vertiv Plan” means (a) a Transferred Entity Benefit Plan or (b) an Assumed Plan. 

(b) Each of the following terms is defined in the Section set forth opposite such term: 

 

			
	 Agreement
	  	Preamble
	 ASCO Severance Plan
	  	Section 7.4(c)
	 Consulting Obligation
	  	Section 2.5
	 Earned Emerson Performance Shares Award
	  	Section 5.3(a)
	 Emerson
	  	Preamble
	 Emerson 401(k) Plan
	  	Section 6.1(a)
	 Emerson DB Plan
	  	Section 6.2
	 Emerson DB Appendix Arrangement
	  	Section 6.2
	 Emerson International Pension Plan
	  	Section 6.6(a)
	 Emerson Option
	  	Section 5.2
	 Emerson Retained Employee Liabilities
	  	Section 2.1(a)
	 Emerson RELTEC SERP
	  	Section 6.3
	 Emerson FSA Plan
	  	Section 7.2
	 Emerson Performance Share
	  	Section 5.3(a)
	 Non-Transfer Employee
	  	Section 3.2(c)
	 Separation Agreement
	  	Recitals
	 Vertiv
	  	Preamble
	 Vertiv 401(k) Plan
	  	Section 6.1(a)
	 Vertiv Assumed Employee Liabilities
	  	Section 2.1(b)
	 Vertiv FSA Plan
	  	Section 7.2
	 WARN
	  	Section 4.5(a)

 (c) Capitalized terms used and not defined herein shall have the meanings set forth in the Separation
Agreement. Other definitional and interpretative matters shall be governed by Section 1.02 of the Separation Agreement. 
 ARTICLE 2

 General Allocation of Liabilities; Certain Rights 

Section 2.1. Allocation of Liabilities Generally. (a) Subject to the terms and conditions of this Agreement, effective as of
the Applicable Transfer Time (or the Effective Time, in the case of Former Non-Business Employees), the Emerson Group hereby assumes or retains, as applicable, and agrees to pay when due, honor and discharge the following Liabilities (collectively,
“Emerson Retained Employee Liabilities”): 
 (i) all Liabilities relating to Emerson Employees and Former
Non-Business Employees to the extent arising in connection with or as a result of their employment before, on, or after the Applicable Transfer Time; 

  
 -5- 

 (ii) all Liabilities arising under any Retained Benefit Plan (other than any
Liabilities under any such plan that Vertiv expressly assumes under this Agreement), the Completion Bonuses, the Special Cash Awards, the Emerson Options, the portion of the Earned Emerson Performance Shares Awards described in Section Section
5.3(b), the Emerson 401(k) Plan (other than the transferred account balances under such plan described in Section 6.1(b)), the Emerson DB Plan, the Emerson International Pension Plans, the post-retirement health benefits described in Sections
7.2(a), or the paid time off described in Section 7.3(b); and 
 (iii) all Liabilities arising out of a breach of a
Consultation Obligation to the extent that such Liabilities relate to any Emerson Employee or Former Non-Business Employee. 
 For the avoidance of doubt,
all Emerson Retained Employee Liabilities are Retained Liabilities. 
 (b) Subject to the terms and conditions of this Agreement, effective
as of the Applicable Transfer Time (or the Effective Time, in the case of Former Business Employees), Vertiv hereby assumes or retains, as applicable, and agrees to pay when due, honor and discharge (through reimbursement to Emerson or otherwise),
and no member of the Emerson Group shall have any further obligation with respect to, the following Liabilities (collectively, the “Vertiv Assumed Employee Liabilities”): 

(i) all Liabilities with respect to each (A) Vertiv Employee or (B) Former Business Employee (other than the
post-retirement health benefits described in Section 7.2(a)), in each case to the extent arising in connection with or as a result of their employment before, on or after the Applicable Transfer Time, in each case, other than any such
Liabilities that Emerson assumes or retains pursuant to Section 2.1(a); 
 (ii) all Liabilities under any Transferred Entity
Benefit Plan, Vertiv Collective Bargaining Agreement, Assumed Plan, Multiemployer Plan, the Emerson RELTEC SERP or the ASCO Severance Plan; 

(iii) all Liabilities arising out of or in connection with the payments described in Section 5.3(d), the transferred account
balances under the Emerson 401(k) Plan described in Section 6.1(b), the post-retirement benefits described in Section 7.2(b) and (c), or the paid time off described in Section 7.3(a); and 

(iv) all Liabilities arising out of a breach of a Consultation Obligation to the extent that such Liabilities relate to any
Vertiv Employee or Former Business Employee. 
 For the avoidance of doubt, all Vertiv Assumed Employee Liabilities are NP Liabilities. 

  
 -6- 

 Section 2.2. Retention of Emerson Plans. Except as otherwise expressly
provided under this Agreement, the Emerson Group shall retain all Emerson Plans and any assets related thereto (other than, for the avoidance of doubt, the Assumed Plans and any assets related thereto). 

Section 2.3. Satisfaction of Liabilities. The parties will reasonably cooperate to enter into such arrangements as are
necessary to have the Emerson Group and the Vertiv Group directly satisfy each of their respective Liabilities under this Agreement, except as otherwise expressly provided in this Agreement. However, to the extent this is not practicable for
administrative, legal or other reasons, it is understood that each Group may satisfy the other Group’s Liabilities under this Agreement, in which case Emerson and/or Vertiv shall cause the Emerson Group or the Vertiv Group, as applicable, to
promptly reimburse the other Group for such Liabilities. 
 Section 2.4. Assignment of Certain Rights. (a) To
the extent permitted by applicable Law and the applicable agreement, if any, Emerson hereby assigns, to the maximum extent possible, on behalf of itself and the Emerson Group, the Specified Vertiv Rights to Vertiv. The Emerson Group and the Vertiv
Group shall execute such documentation as may be reasonably necessary to effectuate the foregoing assignment. 
 (b) To the extent
permitted by applicable Law and the applicable agreement, if any, Vertiv hereby assigns, to the maximum extent possible, on behalf of itself and the Vertiv Group, the Specified Emerson Rights to Emerson. The Emerson Group and the Vertiv Group shall
execute such documentation as may be reasonably necessary to effectuate the foregoing assignment. 
 Section 2.5. Labor
Relations. To the extent required by applicable Law, or any collective bargaining agreement, contract or arrangement with a labor union, works council or similar employee organization, the Emerson Group and the Vertiv Group shall cooperate and
provide all reasonable assistance requested by the other to provide notice to, engage in consultation with and take any similar action which may be required in connection with the Separation (any such required action, a “Consultation
Obligation”). 
 ARTICLE 3 

Employees 

Section 3.1. Employee Transfers.  

(a) Transfers Prior to the Effective Time. Except as provided otherwise by any Transition Services Agreement, Emerson and Vertiv
shall have used and shall continue to use commercially reasonable efforts to take such actions, or cause the taking of such actions, as are necessary to ensure that, as of the Effective Time, or as soon as possible thereafter, (i) each Vertiv
Employee is employed by a member of the Vertiv Group and (ii) each Emerson Employee is employed by a member of the Emerson Group.  

(b) ARD Transfers. Where the Transfer Regulations apply to transfer the employment of any employee either to the Emerson Group
or the Vertiv Group (whether  

  
 -7- 

 
following the termination of a Transition Services Agreement or otherwise), Emerson and Vertiv agree to comply, or to cause the applicable member of the Emerson Group or the Vertiv Group to
comply, with their respective obligations under the Transfer Regulations. 
 (c) Offers to Non-ARD TSA Employees. The Vertiv
Group shall make an offer of employment to each Non-ARD TSA Employee, such offer to be made not later than 30 days prior to the relevant TSA Termination Date (or such longer period as required by applicable Law), which offer shall provide that such
employment will commence as of the Applicable Transfer Time. Allocation of Liability for severance costs in connection with the offers contemplated by this Section 3.1(c) are addressed in Section 7.4. 

(d) Vertiv Employees Remaining in Emerson Group Entities. If it is found or alleged that any Vertiv Employee remains an employee
of the Emerson Group after the Applicable Transfer Time, Vertiv shall, within 30 days of becoming aware of that allegation or finding, cause the applicable member of the Vertiv Group to make an offer to employ such employee commencing at or as soon
as possible after the Applicable Transfer Time with the Vertiv Group. For the avoidance of doubt, the Vertiv Group agrees to reimburse the Emerson Group for any employment costs incurred in respect of such employee between the Applicable Transfer
Time and the date that such employee commences employment with the Vertiv Group. Allocation of Liability for severance costs contemplated by this Section 3.1(d) are addressed in Section 7.4.  

(e) Emerson Employees Remaining in Vertiv Group Entities. If it is found or alleged that any Emerson Employee remains an
employee of the Vertiv Group after the Applicable Transfer Time, Emerson shall, within 30 days of becoming aware of that allegation or finding, cause the applicable member of the Emerson Group to make an offer to employ such employee commencing at
or as soon as possible after the Applicable Transfer Time. For the avoidance of doubt, the Emerson Group agrees to reimburse the Vertiv Group for any employment costs incurred in respect of such employee between the Applicable Transfer Time and the
date that such employee commences employment with the Emerson Group. Allocation of Liability for severance costs contemplated by this Section 3.1(e) are addressed in Section 7.4. 

Section 3.2. Leave of Absence Employees 

(a) Return Prior to the Applicable Transfer Time. If an LOA Employee returns to active employment prior to the Applicable
Transfer Time, the Parties shall have used commercially reasonable efforts to take such actions, or cause the taking of such actions, as are necessary to ensure that such LOA Employee has been transferred to, or received an offer of employment with,
the Emerson Group or Vertiv Group (as applicable) to take effect as soon as possible after such LOA Employee’s return to active employment.  

(b) Return After the Applicable Transfer Time. If an LOA Employee returns to active employment on or after the Applicable
Transfer Time, the Parties shall use commercially reasonable efforts to ensure that each such LOA Employee is transferred to, or receives an offer of employment with, the Emerson Group or Vertiv Group (as applicable) to take effect as soon as
possible after such LOA Employee’s return to active employment. The Parties agree that any employment costs incurred in respect of such employee between the  

  
 -8- 

 
Applicable Transfer Time and the date on which such employee commences employment with the Emerson Group or the Vertiv Group (as applicable) will be reimbursed. If, however, any such LOA Employee
does not transfer to, or does not accept an offer from, the correct employing group (for whatever reason) and remains with the existing employer (a “Non-Transfer Employee”), the existing employer may choose to continue to employ
such Non-Transfer Employee or to terminate the employment of such Non-Transfer Employee at the earliest time permitted by applicable Law. If the existing employer chooses to continue to employ such Non-Transfer Employee, the existing employer will
retain all Liabilities in relation to such Non-Transfer Employee. If the existing employer chooses to terminate the employment of such Non-Transfer employee, allocation of Liability for severance costs contemplated by this Section 3.2(b) are
addressed in Section 7.4. 
 Section 3.3. Offers of Employment. Where the Emerson Group or the Vertiv Group (as
applicable) are under an obligation to offer employment to an employee under the terms of this Section 3, such offer shall be made on terms which are broadly comparable. 

Section 3.4. Employee Records. Each of the Vertiv Group and the Emerson Group shall, to the extent permitted by applicable
Law, be permitted by the other to access and retain copies of such records, data and other employee-related information in any form as may be reasonably necessary or appropriate to carry out their respective obligations under applicable Law, this
Agreement or any Transfer Document, and for the purposes of administering their respective Employee Benefit Plans or as may be required for the purposes of litigation.  

ARTICLE 4 
 Assumption of
Plans and Collective Bargaining Agreements 
 Section 4.1. Plan Participation. Except as otherwise expressly provided
in this Agreement or any Transition Services Agreement, and effective as of the Applicable Transfer Time, (a) all Vertiv Employees shall cease any participation in and benefit accrual under Emerson Plans and (b) all members of the Vertiv
Group shall cease to be participating employers under Emerson Plans. Except as otherwise expressly provided in this Agreement or any Transition Services Agreement, and effective as of the Applicable Transfer Time, (i) all Emerson Employees
shall cease any participation in and benefit accrual under Vertiv Plans and (ii) all members of the Emerson Group shall cease to be participating employers under any Vertiv Plans. 

Section 4.2. Service Credit. 

(a) Vertiv shall use commercially reasonable efforts to grant each Vertiv Employee credit for years of prior service, and recognize such
employee’s continuity of service, with the Emerson Group or the respective predecessors of members of the Emerson Group for all purposes under each Employee Benefit Plan that provides retirement or welfare benefits and that is sponsored or
maintained by the Vertiv Group, including benefit accrual (other than benefit accrual under a plan that provides defined benefit retirement benefits); provided, however, that such credit shall not result in a duplication of benefits.
Subject to applicable Law, Vertiv and Emerson agree to cooperate and exchange such information as is necessary to avoid any such duplication of benefits. 

  
 -9- 

 (b) Emerson shall use commercially reasonable efforts to grant each Emerson Employee credit for
years of prior service, and recognize such employee’s continuity of service, with the Vertiv Group or the respective predecessors of members of the Vertiv Group for all purposes under each plan that provides retirement or welfare benefits and
that is sponsored or maintained by the Emerson Group (other than benefit accrual under a plan that provides defined benefit retirement benefits); provided, however, that such credit shall not result in a duplication of benefits.
Subject to applicable Law, Vertiv and Emerson agree to cooperate and exchange such information as is necessary to avoid any such duplication of benefits. 

Section 4.3. Assumed Plans. Effective as of the Effective Time, Vertiv shall adopt each Assumed Plan and assume all
Liabilities and responsibilities of the Emerson Group thereunder. 
 Section 4.4. Assumption of Collective Bargaining
Agreements. 
 (a) From and after the Effective Time, Vertiv shall (or shall cause the applicable member of the Vertiv Group to) comply
with and honor the Vertiv Collective Bargaining Agreements and be responsible for, and the relevant member of the Emerson Group shall cease to be responsible for or to otherwise have any Liability in respect of, the Vertiv Collective Bargaining
Agreements as they pertain to any Vertiv Employee or Former Business Employee, other than Emerson Retained Employee Liabilities or as expressly provided otherwise in this Agreement. 

(b) Without limiting the foregoing, effective as of the Effective Time, Vertiv shall assume all Liabilities with respect to the Multiemployer
Plans, including with respect to any “complete withdrawal” or “partial withdrawal” (within the meaning of Sections 4203 and 4205 of ERISA, respectively), and from and after the Effective Time, Vertiv shall (or shall cause the
applicable member of the Vertiv Group to) make all required contributions to, and comply with all other obligations with respect to, the Multiemployer Plans. The Emerson Group and the Vertiv Group shall execute such documentation as may be
reasonably necessary to effectuate the foregoing. 
 Section 4.5. WARN. 

(a) Vertiv shall assume all Liabilities in respect of the Vertiv Employees and the Former Business Employees for the provision of notice or
payment in lieu of notice and any applicable penalties under the Worker Adjustment and Retraining Notification Act (collectively, “WARN”) or any similar applicable Law arising as a result of the transactions contemplated by the
Separation Agreement and this Agreement. Vertiv and Emerson shall cooperate in good faith to mitigate any Losses under WARN or any similar applicable Law in respect of the Vertiv Employees. 

(b) Emerson shall assume all Liabilities in respect of the Emerson Employees and the Former Non-Business Employees for the provision of notice
or payment in lieu of notice and any applicable penalties under WARN or any similar applicable Law arising as a result of 

  
 -10- 

 
the transactions contemplated by the Separation Agreement and this Agreement. Vertiv and Emerson shall cooperate in good faith to mitigate any Losses under WARN or any similar applicable Law in
respect of the Emerson Employees. 
 Section 4.6. Employee Loans. Effective as of the Applicable Transfer Time, the
Vertiv Group hereby assumes or retains, as applicable, the loans to Vertiv Employees as set forth in Schedule 4.6. For the avoidance of doubt, such loans are NP Assets. 

ARTICLE 5 
 Equity Awards

 Section 5.1. Emerson Equity Plans. In connection with the Distribution, Emerson shall retain the Emerson
Equity-Based Plans and shall cause such actions to be taken under such plans as are necessary or appropriate to reflect the Distribution as provided in this Article 5. 

Section 5.2. Options. In connection with the Distribution and effective as of the Applicable Transfer Time, each option to
purchase Emerson Shares (each, an “Emerson Option”) outstanding as of the Applicable Transfer Time that is held by a Vertiv Employee shall be fully vested and shall remain exercisable for a period ending 90 days after the Applicable
Transfer Time (or, if earlier, the scheduled expiration of the term of such Emerson Option) pursuant to the terms of the applicable Emerson Equity-Based Plan. The Emerson Group shall retain all Liabilities related to the Emerson Options. 

Section 5.3. Performance Shares. In connection with the Distribution and effective as of the Effective Time, each performance
shares award related to Emerson Shares (each, an “Emerson Performance Shares Award”) outstanding as of the Distribution Date that is held by a Vertiv Employee shall be adjusted and paid out as follows: 

(a) No payout shall be made until the earned portion of each Emerson Performance Shares Award is determined by the compensation committee of
the board of directors of Emerson after the end of Emerson’s 2016 fiscal year (each, an “Earned Emerson Performance Shares Award”); 

(b) 60% of each Earned Emerson Performance Shares Award shall be paid by Emerson to the Vertiv Employee holding such Emerson Performance
Shares Award at the same time and in the same manner (whether in Emerson Shares, cash or a combination of both) as the 60% payout is made to Emerson Employees; 

(c) Emerson and Vertiv shall cooperate in good faith to determine the treatment of the remaining 40% of each Earned Emerson Performance Shares
Award in respect of any Vertiv Employee; and 
 (d) any unearned portion of each Emerson Performance Shares Award held by any Vertiv
Employee shall be cancelled, and no payment shall be due from Emerson or Vertiv with respect to such portion of such award. 

  
 -11- 

 ARTICLE 6 

Qualified Plans, Supplemental Plans and Non-U.S. Retirement Plans 

Section 6.1. 401(k) Plans. 

(a) As of the Applicable Transfer Time, the Vertiv Employees who are based primarily in the United States and participate in a defined
contribution plan that is intended to qualify under Section 401(a) of the Code and is sponsored by a member of the Emerson Group (each, an “Emerson 401(k) Plan”) shall be fully vested in their account balances under the Emerson
401(k) Plan. As of the Applicable Transfer Time, Vertiv shall cover (or cause to be covered) each such Vertiv Employee under a defined contribution plan that is intended to qualify under Section 401(a) of the Code (the “Vertiv 401(k)
Plan”). As soon as reasonably practicable following the Applicable Transfer Time, (i) Emerson shall cause the trustee of each Emerson 401(k) Plan to transfer in kind (in the case of Emerson Shares and Vertiv Shares) or in the form of
cash (or such other form as may be agreed by Emerson and Vertiv) the full account balances of the Vertiv Employees under such Emerson 401(k) Plan to the appropriate trustee as designated by Vertiv under the trust agreement forming a part of the
Vertiv 401(k) Plan. 
 (b) In consideration for the transfer of assets described in Section 6.1(a), Vertiv shall, effective as of the
date of such transfer, assume all Liabilities of the Emerson Group in respect of the account balances accumulated by the Vertiv Employees prior to the Applicable Transfer Time under the Emerson 401(k) Plans. Emerson shall retain all assets and
Liabilities under the Emerson 401(k) Plans except as provided in this Section 6.1. 
 (c) As a result of the Distribution, Emerson
Employees, Former Non-Business Employees, Vertiv Employees and Former Business Employees, in each case who hold Emerson Shares under the Emerson 401(k) Plans, will receive Vertiv Shares and, in the case of Vertiv Employees, such Emerson Shares and
Vertiv Shares will be transferred to the Vertiv 401(k) Plan pursuant to Section 6.1(a). The Parties will cause their respective plans and the trustees of such plans to provide that (i) following the Effective Time, (A) Emerson
Employees, Former Non-Business Employees and Former Business Employees will be permitted to liquidate the Vertiv Shares that they hold under the Emerson 401(k) Plans, in accordance with the terms of the applicable plan, but will not be permitted to
purchase additional Vertiv Shares under the plan and (B) Vertiv Employees will be permitted to liquidate the Emerson Shares that they hold under the Vertiv 401(k) Plan, in accordance with the terms of such plan, but will not be permitted to
purchase additional Emerson Shares under the plan, and (ii) on or as soon as administratively practicable after the first anniversary of the Effective Time (or such other date as the applicable plan sponsor determines is prudent after
consideration of relevant circumstances and information), all remaining Vertiv Shares held under the Emerson 401(k) Plans, and all remaining Emerson Shares held under the Vertiv 401(k) Plan, will be liquidated and reinvested in other investment
vehicles available under the applicable plan, in accordance with the terms of such plan. 
 Section 6.2. U.S. Defined Benefit
Plans. 
 (a) As of the Applicable Transfer Time, the Vertiv Employees who participate in the Emerson Retirement Plan (the
“Emerson DB Plan”) shall be fully vested in their accrued benefits under the Emerson DB Plan. All Liabilities in respect of such accrued benefits shall be retained by the Emerson DB Plan. The Emerson DB Plan shall retain all assets
thereunder. 

  
 -12- 

 (b) For Vertiv Employees covered under appendices 14, 32, 80, 105, 123 and 124 to the Emerson DB
Plan as of immediately prior to the Applicable Transfer Time, Emerson and Vertiv shall cooperate in good faith to determine an appropriate additional contribution under the Vertiv 401(k) Plan. 

Section 6.3. Supplemental Plan. Effective as of the Effective Time, all Liabilities with respect to the Emerson RELTEC SERP
shall be assumed or retained, as applicable, by the Vertiv Group. 
 Section 6.4. No Change in Control or Severance
Event. Neither the Distribution nor the consummation of the transactions contemplated herein or under the Separation Agreement shall constitute a change in control for purposes of, or is intended to trigger or otherwise give rise to any
severance obligations or entitlements under, any Emerson Plan or Vertiv Plan. 
 Section 6.5. Sections 162(m) and
409A. Notwithstanding anything in this Agreement to the contrary, Emerson and Vertiv agree to use their reasonable best efforts to provide for any treatment different from that otherwise provided herein in order that the treatment not cause
(a) a federal income tax deduction to be limited by reason of Section 162(m) of the Code nor (b) the imposition of an additional tax under Section 409A of the Code. 

Section 6.6. Non-U.S. Retirement Plans. 

(a) In respect of any Emerson Plan which provides retirement benefits for Vertiv Employees who are based primarily outside the United States
(each such plan, an “Emerson International Pension Plan”), effective as of the Applicable Transfer Time, each Vertiv Employee who is an active participant in such plan immediately prior to the Applicable Transfer Time shall be
vested in his or her accrued benefits earned under such plan through the Applicable Transfer Time to the extent required by applicable Law. 

(b) Unless required by applicable Law, all Liabilities in respect of benefits accrued as of the Applicable Transfer Time by each Vertiv
Employee under the Emerson International Pension Plans shall be considered Emerson Retained Employee Liabilities, and unless required by applicable Law, the applicable Emerson International Pension Plan shall retain all assets thereunder. 

(c) In respect of any Vertiv Plan which provides retirement benefits for Vertiv Employees who are based primarily outside the United States,
the Liabilities and assets under such plan shall be assumed or retained, as applicable, by the applicable Transferred Entity. 

  
 -13- 

 ARTICLE 7 

Health and Welfare Plans 

Section 7.1. Health and Welfare Plan Liabilities. (a) As of the Applicable Transfer Time, each Vertiv Employee shall cease
participation in the Emerson Health and Welfare Plans (other than, for the avoidance of doubt, the Transferred Entity Benefit Plans) and commence participation in the Vertiv Health and Welfare Plans. The Emerson Group shall be responsible for
providing benefits in respect of claims incurred under the Emerson Health and Welfare Plans for the Vertiv Employees and (where applicable) Former Business Employees and their beneficiaries and dependents prior to the Applicable Transfer Time (to
the extent that benefits are due pursuant to the terms of such plans). Benefits in respect of all welfare plan claims incurred by the Vertiv Employees at or after the Applicable Transfer Time shall be provided by the Vertiv Group. For purposes of
this Section 7.1(a), the following claims shall be deemed to be incurred as follows: (i) life, accidental death and dismemberment and business travel accident insurance benefits, upon the death or accident giving rise to such benefits and
(ii) health or medical, dental, vision care and/or prescription drug benefits, upon provision of the applicable services, materials or supplies. For the avoidance of doubt, (A) Emerson shall be responsible for providing short- and
long-term disability benefits that, in accordance with the terms of such plans, are made in respect of the period prior to the Applicable Transfer Time, and Vertiv shall be responsible for providing such benefits that, in accordance with the terms
of such plans, are made in respect of the period at or after the Applicable Transfer Time, and (B) Emerson’s and Vertiv’s respective obligations under this Section 7.1(a) shall be subject to a Transition Services Agreement, where
applicable. 
 (b) The Vertiv Group shall use commercially reasonable efforts to (i) waive all limitations as to pre-existing
conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to the Vertiv Employees under any health and welfare plans in which such Vertiv Employees are eligible to participate after the Applicable
Transfer Time to the extent that such limitations were waived under the applicable Emerson Health and Welfare Plan and (ii) provide each Vertiv Employee with credit for any co-payments and deductibles paid prior to the Applicable Transfer Time
in satisfying any applicable deductible or out-of-pocket requirements under any health and welfare plans in which such Vertiv Employees are eligible to participate after the Applicable Transfer Time. 

Section 7.2. Post-Retirement Health and Life Insurance Benefits. 

(a) Effective as of the Effective Time, all Liabilities with respect to post-retirement health benefits for the Former Business Employees
identified on the Employee Schedule as eligible for such benefits shall be assumed or retained, as applicable, by the Emerson Group. 
 (b)
Effective as of the Applicable Transfer Time, all Liabilities with respect to post-retirement health benefits for the Vertiv Employees identified on the Employee Schedule as eligible for such benefits shall be assumed or retained, as applicable, by
the Vertiv Group. 
 (c) Effective as of the Applicable Transfer Time (or the Effective Time, in the case of Former Business Employees), all
Liabilities with respect to post-retirement life insurance 

  
 -14- 

 
benefits for the Vertiv Employees and the Former Business Employees identified on the Employee Schedule as eligible for such benefits shall be assumed or retained, as applicable, by the Vertiv
Group. 
 (d) Without limiting the generality of Section 8.11, nothing in this Section 7.2, expressed or implied, shall constitute a
limitation on the rights of the Emerson Group and the Vertiv Group to amend, modify or terminate the respective benefits for which they assume or retain Liability pursuant to this Section 7.2. 

Section 7.3. Paid Time Off. 

(a) Vertiv shall (i) assume all Liability for all vacation, holiday, floating holidays, flex days and other paid time off with respect to
Vertiv Employees accrued prior to the Applicable Transfer Time and (ii) use commercially reasonable efforts to credit each Vertiv Employee with such accrual; provided, that if the Emerson Group is required to pay out such accrual to a
Vertiv Employee under applicable Law, the Emerson Group shall make such payment and Vertiv shall reimburse the Emerson Group for such amount. 

(b) Emerson shall (i) assume all Liability for all vacation, holiday, floating holidays, flex days and other paid time off with respect
to Emerson Employees accrued prior to the Applicable Transfer Time and (ii) use commercially reasonable efforts to credit each Emerson Employee with such accrual; provided, that if the Vertiv Group is required to pay out such accrual to
an Emerson Employee under applicable Law, the Vertiv Group shall make such payment and Emerson shall reimburse the Vertiv Group for such amount. 

Section 7.4. Severance. 

(a) The Parties will use commercially reasonable efforts, in accordance with applicable Law, to minimize the amount of severance payable to any
Vertiv Employee or Emerson Employee (as applicable) in connection with both (i) the transfer of such employee’s employment between the Emerson Group and the Vertiv Group under the terms of Section 3 (such efforts to include, where
applicable, offering employment on broadly comparable terms and conditions and/or recognizing seniority or entering into a Tri-Partite Agreement) and (ii) the termination of such employee’s employment. Where severance is payable under
applicable Law, the Parties agree that any severance benefits to be provided by either Party in excess of the applicable statutory or contractual minimum shall be subject to the reasonable prior review and approval of the Party responsible for
paying such severance in accordance with the remainder of this Section 7.4. 
 (b) Emerson hereby agrees to pay when due, honor and
discharge (through reimbursement to Vertiv or otherwise), and no member of the Vertiv Group shall have any obligation with respect to, any severance or other termination-related payments or benefits paid or provided to (a) any Emerson Employee
which were triggered on the transfer of such employee from the Vertiv Group to the Emerson Group (either under the Transfer Regulations or as a result of acceptance of an offer of employment) in connection with the transactions contemplated by the
Separation Agreement, this Agreement and any Transfer Documents, and (b) any Emerson Employee (including a LOA Employee) who rejects an offer of employment from the Emerson 

  
 -15- 

 
Group, or who opts out of, or objects to, a transfer to the Emerson Group under the Transfer Regulations with effect from the Applicable Transfer Time (to the extent the Emerson Employee has the
right to opt out or object to such transfer under local applicable Law). 
 (c) Vertiv hereby agrees to pay when due, honor and discharge
(through reimbursement to Emerson or otherwise), and no member of the Emerson Group shall have any obligation with respect to, any severance or other termination-related payments or benefits paid or provided to (a) any Vertiv Employee which
were triggered on the transfer of such employee from the Emerson Group to the Vertiv Group (either under the Transfer Regulations or as a result of acceptance of an offer of employment) in connection with the transactions contemplated by the
Separation Agreement, this Agreement and any Transfer Documents, (b) any Vertiv Employee (including a LOA Employee) who rejects an offer of employment from the Vertiv Group, or who opts out of, or objects to, a transfer to the Vertiv Group
under the Transfer Regulations with effect from the Applicable Transfer Time (to the extent the Vertiv Employee has the right to opt out or object to such transfer under local applicable Law). 

(d) Notwithstanding the foregoing, effective as of the Effective Time, all Liabilities with respect to the ASCO Severance Plan shall be
assumed or retained, as applicable, by the Vertiv Group. 
 ARTICLE 8 

General Provisions 

Section 8.1. Further Assurances. (a) On and after the date hereof, Vertiv will, at the reasonable request of Emerson,
execute, acknowledge and deliver all such endorsements, assurances, consents, assignments, transfers, conveyances, powers of attorney and other instruments and documents, and take such other actions necessary to effectuate the provisions of this
Agreement and the transactions contemplated hereby, including obtaining the consent and approval of any Governmental Authorities or other Persons required to be obtained by Emerson. 

(b) On and after the date hereof, Emerson will, at the reasonable request of Vertiv, execute, acknowledge and deliver all such endorsements,
assurances, consents, assignments, transfers, conveyances, powers of attorney and other instruments and documents, and take such other actions necessary to effectuate the provisions of this Agreement and the transactions contemplated hereby,
including obtaining the consent and approval of any Governmental Authorities or other Persons required to be obtained by Vertiv. 

Section 8.2. Notices. Any notice, instruction, direction or demand under the terms of this Agreement required to be in writing
shall be duly given upon delivery, if delivered by hand, facsimile transmission, mail or electronic mail transmission, to the following addresses: 

If to Emerson, to: 
 Emerson
Electric Co. 
 8000 West Florissant Avenue 

P.O. Box 4100 
 St. Louis, MO
63136 
  

			
	Attention:	  	
		  	
	Facsimile No.:	  	
		  	
	E-mail:	  	
		  	

  
 -16- 

			
	with a copy to:	  	
	
	Davis Polk & Wardwell LLP
	450 Lexington Avenue
	New York, New York 10017
	Attn:	  	
		  	
	Facsimile No.:	  	
	E-Mail:	  	
		  	
		
	If to Vertiv, to:	  	
		
	Vertiv Co.	  	
	[1050 Dearborn Drive
	Columbus, OH 43085]
		
	Attention:	  	
	Facsimile No.:	  	
	E-mail:	  	

 or such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other party
hereto. All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a business day in the place of receipt.
Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding business day in the place of receipt. 

Section 8.3. Amendments; No Waivers. (a) Any provision of this Agreement may be amended or waived if, and only if,
such amendment or waiver is in writing and is signed, in the case of an amendment, by Emerson and Vertiv, or in the case of a waiver, by the party against whom the waiver is to be effective. 

(b) No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by applicable Law. 

  
 -17- 

 Section 8.4. Expenses. Except as specifically provided otherwise in this Agreement,
all costs and expenses incurred by the Emerson Group in connection with this Agreement and related transactions shall be paid by Emerson, and all costs and expenses incurred by the Vertiv Group in connection with this Agreement and related
transactions shall be paid by Vertiv. 
 Section 8.5. Successors and Assigns. The provisions of this Agreement shall be
binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; provided that neither Party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without
the consent of the other Party. If any Party or any of its successors or permitted assigns (i) shall consolidate with or merge into any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or
merger or (ii) shall transfer all or substantially all of its properties and assets to any Person, then, and in each such case, proper provisions shall be made so that the successors and assigns of such Party shall assume all of the obligations
of such party under this Agreement. 
 Section 8.6. Disputes. The dispute resolution provisions set forth in
Article 8 of the Separation Agreement are incorporated by reference herein mutatis mutandis. 
 Section 8.7.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflicts of law rules of such state. 

Section 8.8. Jurisdiction. Subject to Article 8 of the Separation Agreement, the Parties agree that any suit, action or
proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in the United States District Court for the Southern District of New
York or in any New York State court sitting in New York City, so long as one of such courts shall have subject matter jurisdiction over such suit, action or proceeding, and that any cause of action arising out of this Agreement shall be deemed to
have arisen from the transaction of business in the State of New York, and each of the Parties irrevocably consents to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or
proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or
proceeding brought in any such court has been brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or outside of the jurisdiction of any such court. Without
limiting the foregoing, each party agrees that service of process on such party as provided in Section 8.2 shall be deemed effective service of process on such party. 

Section 8.9. Counterparts; Effectiveness; Third-Party Beneficiaries; Corporate Power. (a) This Agreement may be signed
in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each Party shall have received a counterpart
hereof signed by the other party hereto. Until and unless each party has received a  

  
 -18- 

 
counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written
agreement or other communication). Except for Section 6.07 of the Separation Agreement and the indemnification and release provisions of Article 4 of the Separation Agreement, neither this Agreement nor any provision hereof is intended to
confer any rights, benefits, remedies, obligations, or liabilities hereunder upon any Person other than the parties hereto and their respective successors and permitted assigns. Nothing in this Agreement shall create any obligation on the part of
the Emerson Group or the Vertiv Group to employ any Business Employee for any period following the Effective Time. 
 (b) Emerson represents
on behalf of itself and each other member of the Emerson Group, and Vertiv represents on behalf of itself and each other member of the Vertiv Group, as follows: (i) each such Person has the requisite corporate or other power and authority and
has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement to which it is a party and to consummate the transactions contemplated hereby and thereby; and (ii) this Agreement has been duly executed
and delivered by it and constitutes a valid and binding agreement of it enforceable in accordance with the terms thereof (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization and other Laws affecting creditors’
rights generally and general principles of equity). 
 Section 8.10. Entire Agreement. This Agreement, the Separation
Agreement, the Tax Matters Agreement, the Transition Services Agreement and any local Business Transfer Agreement constitute the entire understanding of the Parties with respect to the subject matter hereof and supersede all prior agreements,
understandings and negotiations, both written and oral, between the Parties with respect to the subject matter hereof. In the event of any conflict among the terms of such agreements, the order in which such agreements shall be interpreted and
governed is as follows (with the earlier listed agreements prevailing over the later listed agreements): the Tax Matters Agreement, this Agreement, the Separation Agreement, the Transition Services Agreement and any local Business Transfer
Agreement. No representation, inducement, promise, understanding, condition or warranty not set forth herein has been made or relied upon by any Party or any member of their Group with respect to the transactions contemplated by this
Agreement.  
 Section 8.11. Preservation of Rights to Amend. Nothing contained in this Agreement, expressed
or implied, shall be treated as the establishment, amendment or modification of any Emerson Plan or Vertiv Plan or constitute a limitation on rights to amend, modify, merge or terminate any Emerson Plan or Vertiv Plan or any other plan, arrangement,
agreement, program, or policy. 
 Section 8.12. Captions. The captions herein are included for convenience of reference
only and shall be ignored in the construction or interpretation hereof. 
 Section 8.13. Severability. If any one or more
of the provisions contained in this Agreement should be declared invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained in this Agreement shall not in any way be affected or
impaired thereby so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.  

  
 -19- 

 
Upon such a declaration, the parties shall modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner so that the transactions
contemplated hereby are consummated as originally contemplated to the fullest extent possible. 
 Section 8.14.
Withholdings. To the extent consistent with the terms of the Tax Matters Agreement, the party that is responsible for making a payment to, or for the benefit of, an employee hereunder shall be responsible for making the appropriate
withholdings, if any, attributable to such payment. 
 Section 8.15. Survival. All covenants and agreements of the
parties contained in this Agreement shall survive the Effective Time indefinitely, unless a specific survival or other applicable period is expressly set forth herein. 

Section 8.16. Interpretation. In the event an ambiguity or question of intent or interpretation arises, this Agreement
shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of its authorship of any of the provisions of this Agreement.  

Section 8.17. Specific Performance. Each Party acknowledges and agrees that damages for a breach or threatened breach of
any of the provisions of this Agreement would be inadequate and irreparable harm would occur. In recognition of this fact, each Party agrees that, if there is a breach or threatened breach, in addition to any damages, the other nonbreaching party to
this Agreement, without posting any bond, shall be entitled to seek and obtain equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction, attachment, or any other equitable remedy which may
then be available (i) to obligate the breaching party to perform its obligations under this Agreement or (ii) if the breaching party is unable, for whatever reason, to perform those obligations, to take any other actions as are necessary,
advisable or appropriate to give the other party to this Agreement the economic effect which comes as close as possible to the performance of those obligations (including, but not limited to, transferring, or granting liens on, the assets of the
breaching party to secure the performance by the breaching party of those obligations). 
 Section 8.18. Performance.
Each Party shall cause to be performed all actions, agreements and obligations set forth herein to be performed by any member of such party’s Group. 

[Signature Page Follows] 

  
 -20- 

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

			
	EMERSON ELECTRIC CO.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	VERTIV CO.
		
	By:	 	  

	Name:	 	
	Title:

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