Document:

Form of Change in Control Agreement for Named Executive Officer

  
 Exhibit 10(b)

 CHANGE IN CONTROL AGREEMENT 
 This Agreement, dated as of this                      day of
                    , 2010, is by and between
                                        
(“Executive”) and Sigma-Aldrich Corporation and any successor to its business and/or assets (“Company”). 

WHEREAS, the Company considers it essential to the best interests of the Company that its key employees be encouraged to remain with the
company and to devote full attention to the Company’s business in the event that any third party expresses its intention to take action which could result in a change in control of the Company; and 

WHEREAS, Executive serves as a key employee of the Company; 
 NOW, THEREFORE, to encourage Executive’s continued, undivided attention, dedication and services to the Company and the availability of Executive’s advice and counsel notwithstanding the
possibility, threat or occurrence of a change in control of the Company, and to induce Executive to remain in the employ of the Company, and for other good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged,
the Company and Executive agree as follows: 
  

	 	1.	Term of Agreement. The term of this Agreement shall commence on the date first set forth above and shall end on
                    ,      2011, and shall continue in effect for successive periods of one year thereafter unless
either the Company or Executive gives written notice of intent to terminate the Agreement at least six (6) months prior to the expiration of the then-current term of this Agreement. The Company is precluded from giving notice of intent to
terminate within six months of a Change in Control or at any time at which a Change in Control with an identified party is under serious consideration. 

  

	 	2.	Definitions. As used herein, the terms identified below shall have the meanings indicated: 

 

	 	(a)	“Board” means the Company’s Board of Directors. 

 

	 	(b)	“Cause” means any of the following: 

  

	 	(i)	the willful and continuous failure by Executive to substantially perform Executive’s duties with the Company (other than any such failure resulting from
Executive’s incapacity due to physical or mental illness) thirty (30) days after a written demand for substantial performance is delivered to Executive by the Board which specifically identifies the manner in which the Board believes that
Executive has not substantially performed Executive’s duties, 

  

	 	(ii)	 gross misconduct or gross negligence by Executive provided (A) the Board has determined that the resulting harm to the Company from
Executive’s gross misconduct or gross negligence cannot be 

  
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adequately remedied, or (B) Executive fails to correct any resulting harm to the Company within thirty (30) days after a written demand for correction is delivered to Executive by the
Board which specifically identifies both the manner in which the Board believes that Executive has engaged in gross misconduct or gross negligence and an appropriate method of correcting any resulting harm to the Company, or

  

	 	(iii)	Executive’s conviction of or the entering of a plea of guilty or nolo contendere to the commission of a felony. 

 

	 	(c)	“Change in Control” shall mean any of the following: 

 

	 	(i)	Individuals who constitute the Incumbent Board cease for any reason to constitute at least a majority of the Board. 

 

	 	(ii)	More than 25% of (x) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors
(“Outstanding Company Voting Securities”) or (y) the then outstanding shares of the Company’s common stock (“Outstanding Company Common Stock”) is directly or indirectly acquired or beneficially owned (as defined in
Rule 13d-3 under the Securities Exchange Act of 1934, as amended, or any successor rule thereto (“Exchange Act”)) by any individual, entity or group (as defined below), provided, however, that the following acquisitions and beneficial
ownership shall not constitute Changes in Control pursuant to this clause (ii): 

  

	 	(A)	any acquisition or beneficial ownership by the Company or a “subsidiary corporation” as defined in Section 424(f) of the Code, or any successor provision
(“Subsidiary”), or 

  

	 	(B)	any acquisition or beneficial ownership by any employee benefit plan (or related trust) sponsored or maintained by the Company or one or more of its Subsidiaries.

  

	 	(iii)	Consummation of a reorganization, merger, share exchange or consolidation (a “Business Combination”), unless in each case following such Business Combination:

  

	 	(A)	 all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and
Outstanding Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding
voting 

  
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securities entitled to vote generally in the election of directors or other governing body, as the case may be, of the entity resulting from such Business Combination (including, without
limitation, an entity that as a result of such transaction owns the Company through one or more subsidiaries); 

  

	 	(B)	no individual, entity or group (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, more than 25% of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities
of such corporation entitled to vote generally in the election of directors or other governing body of the entity resulting from such Business Combination, except to the extent that such individual, entity or group owned more than 25% of the
Outstanding Company Common Stock or Outstanding Company Voting Securities prior to the Business Combination; and 

  

	 	(C)	at least a majority of the members of the board of directors or other governing body of the entity resulting from such Business Combination were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, approving such Business Combination. 

  

	 	(iv)	The Company shall sell or otherwise dispose of all or substantially all of the assets of the Company (in one transaction or a series of transactions).

  

	 	(v)	The shareholders of the Company shall approve a plan to liquidate or dissolve the Company, and the Company shall commence such liquidation or dissolution.

 For purposes of the definition in this Section 2(c), group shall have the following meaning: Persons will
not be considered to be acting as a group solely because they purchased stock of the Company at the same time, or as a result of the same public offering. However, persons will be considered to be acting as a group if they are owners of a
corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the corporation. If a person, including an entity, owns stock in both corporations that enter into a merger, consolidation,
purchase or acquisition of stock, or similar transaction, such shareholder is considered to be acting as a group with other shareholders in a corporation prior to the transaction giving rise to the change and not with respect to the ownership
interest in the other corporation. 

  
 3 

  

	 	(d)	“COBRA” shall mean the Consolidated Budget Reconciliation Act of 1985. 

 

	 	(e)	“Code” means the Internal Revenue Code of 1986, as amended, and the regulations and other guidance promulgated by the Treasury Department and
the Internal Revenue Service thereunder. 

  

	 	(f)	“Good Reason” means the occurrence of one or more of the following conditions without the consent of the Executive: 

 

	 	(i)	a material diminution in Executive’s authority, duties, or responsibilities; 

 

	 	(ii)	a material diminution in the authority, duties or responsibilities of the supervisor to whom the Executive is required to report; 

 

	 	(iii)	a material diminution in the budget over which the Executive retains authority; 

 

	 	(iv)	a change of at least 50 miles in the geographic location at which the Executive must perform services for the Company; 

 

	 	(v)	any action or inaction that constitutes a material breach by the Company of the agreement under which the Executive provides services; or 

 

	 	(vi)	a material diminution in the Executive’s base compensation. 

  

	 	(g)	“Incentive Payment” shall have the meaning as set forth in Section 3. 

 

	 	(h)	“Incumbent Board” means the group of directors consisting of (i) those individuals who, as of the effective date of this Agreement,
constituted the Board and (ii) any individuals who become directors subsequent to such effective date whose appointment, election or nomination for election by the shareholders of the Company was approved by a vote of at least a majority of the
directors then comprising the Incumbent Board, excluding, however, members of the Incumbent Board who are no longer serving as directors. The Incumbent Board shall exclude any individual whose initial assumption of office occurred (i) as a
result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person (other than a solicitation of proxies by the
Incumbent Board) or (ii) with the approval of the Incumbent Board but by reason of any agreement intended to avoid or settle a proxy contest. 

  

	 	(i)	“Qualifying Termination” shall have the meaning as set forth in Section 5. 

  
 4 

  

	 	(j)	“Severance Payment” shall mean the benefit, if any, defined as a “severance payment” and paid to Executive as a lump sum under a
severance plan of the Company. 

  

	 	(k)	“Short-Term Incentive Plan” shall mean the Sigma-Aldrich Corporation Cash Bonus Plan and any successor plan thereto. 

 

	 	(l)	“Supplemental Retirement Plan” shall mean the Sigma-Aldrich Supplemental Retirement Plan and any successor plan thereto.

  

	 	(m)	“Termination Factor” means a factor equal to [1, 2, 2.99]*. 

 

	 	(n)	“Termination Payment” shall have the meaning as set forth in Section 6. 

 

	 	3.	 Incentive Payments. In the event of a Change in Control, Executive shall be entitled to receive an “Incentive Payment.” Subject
to the terms hereof, such payment will be made in a lump-sum sixty (60) days following the date of the Change in Control or as soon as administratively practicable thereafter but in no event later than 2 1/2 months after the close of the year in which the Change in Control
occurs. The Incentive Payment shall equal the Executive’s bonus compensation otherwise payable under the terms of the Company’s Short-Term Incentive Plan determined on a pro rata basis for Executive’s services and performance to the
date of the Change in Control and based on full and immediate vesting of the target award as of the date of the Change in Control. Notwithstanding any provision herein to the contrary, in the event an Incentive Payment is deferred compensation under
Section 409A of the Code, such Incentive Payment shall be fully vested with respect to the target award and based on the pro rata portion for Executive’s services and performance to the date of the Change in Control and paid out pursuant
to the terms of the awards and underlying plans. 

  

	 	4.	Stock Rights. In the event of a Change in Control, Executive’s non-qualified stock options, incentive stock options, stock appreciation rights,
restricted stock, performance shares, performance units, and restricted stock units granted by the Company which are outstanding on the date of the Change in Control, shall vest and be exercisable. 

 

	 	5.	 Qualifying Termination. Benefits only become payable under Sections 6 and 7 below if Executive experiences a “Qualifying
Termination”. A Qualifying Termination shall occur on the later of the following events, provided both such events occur: (1) the Company terminates Executive’s employment without Cause or, no later than two years following the event
that gives rise to Good Reason, Executive terminates his or her employment for Good Reason, provided that such termination of employment (be it without Cause or for Good Reason) occurs either six months prior to or two years following a Change in
Control or (2) a Change in Control occurs. For purposes of a Qualifying Termination involving Good Reason, the Executive must provide the Company with notice within 90 days of the initial existence of a condition constituting Good Reason and
afford the Company 30 days 

  
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in which to remedy the condition. If the Company remedies the condition during the prescribed 30-day period and the Executive terminates employment, the Executive will not be deemed to have
terminated his or her employment for Good Reason for purposes of this Section 5. 

  

	 	6.	Termination Payment. Except as described below, Executive shall receive a “Termination Payment” immediately upon the occurrence of a Qualifying
Termination. The Termination Payment shall be subject to deduction for customary withholdings, including, without limitation, federal and state withholding taxes and social security taxes. Subject to all other provisions of this Agreement, including
Section 9 hereof, the Termination Payment shall equal the sum of the following amounts less any “Severance Payment”: 

  

	 	(a)	All previously earned and accrued but unpaid base salary up to the date of Executive’s termination of employment; 

 

	 	(b)	An amount equal to the Termination Factor multiplied by Executive’s annual base salary as of the date of Executive’s termination of employment; and

  

	 	(c)	An amount equal to the Termination Factor multiplied by the Executive’s full-year target award under the Short-Term Incentive Plan for the year in which Executive
terminates employment. 

  

	 	7.	Continuation of Benefits. Executive shall receive the following benefits beginning upon the occurrence of a Qualifying Termination.

  

	 	(a)	The Company will maintain Director and Officer insurance for the benefit of Executive to the maximum extent and for the maximum duration provided under applicable
bylaws and insurance policies to the extent permitted by applicable law. 

  

	 	(b)	The Company will indemnify Executive for all of the expenses incurred or damages paid or payable with respect to a bona fide claim against Executive, including
settlement payments, where such claim is based on actions or failures to act by Executive in his or her capacity as an employee of the Company, to the maximum extent and for the maximum duration provided under applicable bylaws and insurance
policies to the extent permitted by applicable law. 

  

	 	8.	 Cap on Certain Payments by the Company. In the event that any payment or benefit of any type by the Company to or for the benefit of
Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, would exceed the greatest amount that could be paid to the Executive without Executive incurring an excise tax imposed by
Section 4999 of the Code, then the amounts payable to Executive under this Agreement (or any other agreement, plan or arrangement) shall be reduced (but not below zero) to the maximum amount which may be paid without Executive becoming subject
to such excise tax, but only 

  
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if and to the extent such reduced amount would provide a greater benefit to Executive than an unreduced payment that would subject Executive to such excise tax. Payment of the foregoing amount
shall be in full satisfaction of any and all rights under this Agreement and shall be subject to the next sentence. In no event will the Company pay any excise tax imposed by Section 4999 of the Code or otherwise on behalf of Executive. No
amounts or benefits which constitute nonqualified deferred compensation subject to Code Section 409A shall be forfeited or reduced pursuant to this Section 8 until all amounts and benefits not subject to Code Section 409A have been
forfeited, and reduction or forfeiture of amounts subject to Code Section 409A shall be made first (to the extent necessary) out of payments and benefits which are due at the latest future date. 

 

	 	9.	Non-Disclosure of Confidential Information and Noncompete. 

  

	 	(a)	Executive expressly recognizes and acknowledges that during Executive’s employment with the Company, Executive became entrusted with, had access to, or gained
possession of confidential and proprietary information, data, documents, records, materials, and other trade secrets and/or other proprietary business information of the Company that is not readily available to competitors, outside third parties
and/or the public, including without limitation, data, designs, plans, notes, memoranda, work sheets, formulas, processes, patents, pricing, production methods and techniques, financial information and information about (i) current or
prospective customers and/or suppliers and customer and supplier lists (ii) employees, research, goodwill, production, prices, costs, margins, and operating unit financial performance, salaries and expertise, customer preferences, contact
information, key contacts, credit and purchasing history, and purchasing requirements and preferences (iii) business methods, processes, practices or procedures; (iv) computer software and technology development, and (v) marketing,
pricing strategies, business plans, and business strategy, including acquisition, merger and/or divestiture strategies, (collectively or with respect to any of the foregoing, the “Confidential Information”). Executive agrees, by acceptance
of the benefits under this Agreement, to protect all Confidential Information of the Company. 

  

	 	(b)	Executive recognizes that the Company is engaged in the business of research, development, manufacture and sale of chemicals, chemical products, biochemical and
biological products and allied chemical and life sciences activities throughout the world (the “Company’s Business”), which business requires for its successful operation the fullest security of its Confidential Information of which
Executive will acquire knowledge during the course of his employment. 

  

	 	(c)	 Executive shall not, directly or indirectly (whether as owner, partner, consultant, employee or otherwise), at any time during his employment with the
Company and for a period of two (2) years following any termination of 

  
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his employment with the Company which gives rise to a Termination Payment under Section 6, regardless of how or why Executive’s employment terminates, engage in, provide any services or
advice to, contribute Executive’s knowledge to or invest in any business that is engaged in any work or activity that involves a product, process, service or development which is then competitive with, the same as or similar to a product,
process, service or development on which Executive worked or with respect to which Executive had access to Confidential Information while with the Company anywhere the Company markets or sells any such product or service, provided, however, that the
foregoing shall not prohibit Executive from owning 2% or less of the outstanding equity securities of a publicly traded entity. Following expiration of said two-year period, Executive shall continue to be obligated under the Confidential Information
provisions of this Agreement not to use or to disclose Confidential Information so long as it shall remain proprietary or protectable as confidential or trade secret information. Following termination of employment for any reason, Executive agrees
to advise the Company of Executive’s new employer, work location and job responsibilities within ten days after accepting new employment and agrees to keep the Company so advised of any change in Executive’s employment for two years
following termination of employment with the Company. 

  

	 	(d)	Executive understands that the intention of this Section of this Agreement is not to prevent the Executive from earning a livelihood, and Executive agrees nothing in
this Agreement would prevent Executive from earning a livelihood utilizing his general purchasing, sales, professional or technical skills in any of the hospitals, businesses, research or manufacturing facilities of companies which are not directly
or indirectly in competition with the Company. 

  

	 	(e)	Executive’s breach of Section 9 of this Agreement shall relieve Company of its obligations (if any) to pay that portion of any Termination Payment described
in Sections 6(b) and 6(c) (“Noncompete Payments”). In the event that Executive breaches this Section 9 after Executive has received the Termination Payment, Executive shall immediately return the full amount of the Noncompete Payments
to the Company, with interest from the date Executive received such amounts. 

  

	 	10.	At-Will Employment. The Company and Executive acknowledge that Executive’s employment is and shall continue to be at-will, as defined under
applicable law. This Agreement is not a contract of employment and does not guarantee Executive employment for any particular period of time. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments,
benefits, damages, awards or compensation other than as provided by this Agreement, or as may otherwise be available in accordance with the Company’s established employee plans and practices or other agreements with the Company at the time of
termination. 

  
 8 

  

	 	11.	General Reimbursement Procedure. To the extent that Executive is entitled to any reimbursements (or in-kind benefits) under this Agreement and the
procedures for such reimbursements (or in-kind benefits) are not otherwise set forth herein, such reimbursements and provision of in-kind benefits shall be made as soon as administratively practicable but in no event later than the end of the two
year period following the date Executive terminates employment with the Company. 

  

	 	12.	Arbitration; Litigation Expenses. All claims, disputes and other matters in question between the parties arising under this Agreement, other than under
Section 9 (which may be enforced by the Company through injunctive or other equitable relief), shall be decided by arbitration in accordance with the rules of the American Arbitration Association. (“AAA”), unless the parties mutually
agree otherwise. The determination reached in such arbitration shall be final and binding on both parties without any right of appeal of further dispute. Execution of the determination by such arbitrator may be sought in any court of competent
jurisdiction. The arbitrators shall not be bound by judicial formalities and may abstain from following the strict rules of evidence and shall interpret this Agreement as an honorable engagement and not merely as a legal obligation. Unless otherwise
agreed by the parties, any such arbitration shall be conducted in accordance with the Rules of the AAA and the proceedings shall be private and confidential. 

 The party seeking arbitration shall notify the other party in writing and request the AAA to submit a list of 5 or 7 potential arbitrators. In the event the parties do not agree upon an arbitrator, each
party shall, in turn, strike one arbitrator from the list, the Corporation having the first strike, until only one arbitrator remains, who shall arbitrate the dispute. The arbitration hearing shall be conducted within 30 days of the selection of an
arbitrator or at the earliest date thereafter that the arbitrator is available. 
 The administrative costs of the arbitration
shall be borne equally by the parties, and each party shall pay its own costs in connection with any equitable relief sought with respect to enforcement of Section 9; however, if Executive is the prevailing party in any such arbitration (or
other action, if applicable), the Company shall pay all costs and attorneys’ fees incurred by Executive in such action. For purposes of this Agreement, the prevailing party shall be the party that substantially prevails in the action after the
resolution of all claims. The arbitrator shall retain jurisdiction of the dispute to determine any prevailing party issues. 
  

	 	13.	General Creditor. Any and all amounts payable hereunder to Executive shall be made from assets which shall continue, for all purposes, to be part of the
general, unrestricted assets of the Company; no person shall have nor acquire any interest in any such asset by virtue of the provisions of this Agreement. The Company’s obligation hereunder shall be an unfunded and unsecured promise to pay
money in the future. To the extent that Executive or any person acquires a right to receive payments from the Company under the provisions hereof, such right shall be no greater than the right of any unsecured general creditor of the Company; no
such person shall have nor acquire any legal or equitable right, interest or claim in or to any property or assets of the Company. 

  
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	 	14.	Severability and Interpretation. In the event of a conflict between the terms of this Agreement and any of the definitions or provisions in the
Company’s Severance Plan or Executive Severance Plan, or otherwise, the terms of this Agreement shall prevail. Whenever possible, each provision of this Agreement and any portion hereof shall be interpreted in such a manner as to be effective
and valid under applicable law, rules and regulations. If any covenant or other provision of this Agreement (or portion thereof) shall be held to be invalid, illegal, or incapable of being enforced, by reason of any rule of law, rule, regulation,
administrative order, judicial decision or public policy, all other conditions and provisions of this Agreement shall, nevertheless, remain in full force and effect, and no covenant or provision shall be deemed dependent upon any other covenant or
provision (or portion) unless so expressed herein. The parties hereto desire and consent that the court or other body making such determination shall, to the extent necessary to avoid any unenforceability, so reform such covenant or other provision
or portions of this Agreement to the minimum extent necessary so as to render the same enforceable in accordance with the intent herein expressed. 

  

	 	15.	No Assignments. This Agreement shall inure to the benefit of, and be binding upon, the Company and any successor to the Company, but neither this
Agreement nor any rights hereunder shall be assigned by Executive. 

  

	 	16.	Prior Agreements. Upon execution by both parties, this Agreement shall supersede and replace all prior employment agreements between the Company and
Executive, and this Agreement shall constitute the entire agreement between the parties, except as expressly provided herein, concerning the effect of a Change in Control on the employment relationship between the Company and Executive.

  

	 	17.	Entire Agreement. This Agreement represents the entire and integrated Change in Control Agreement between Executive and the Company and supersedes all
prior negotiations, representations and agreements, either written or oral, with respect thereto, including, without limitation, that Change in Control Agreement between the parties dated December     , 2008.

  

	 	18.	Waiver and Releases. In consideration of the covenants under this Agreement and as a condition precedent to receiving any payments under this Agreement,
Executives agrees to execute a Release of employment claims in such form as requested by the Company. 

  
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	 	19.	Notice. All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party, by registered or
certified mail, return receipt requested, postage prepaid, or by overnight courier, addressed as set forth in this Section 19 or to such other address as may hereafter be notified by such party to the other party. Notices and communications
shall be effective at the time they are given in the foregoing manner. 

 If to Executive: 

 

			
	  
	 	
	  
	 	
	  
	 	

 If to the Company: 
 Sigma-Aldrich Corporation 
 ATTN: General Counsel 

3050 Spruce Street 
 St. Louis, MO 63103 
 (314) 286-7442 

 

	 	20.	Amendments and Waivers. The Company may amend, terminate, or otherwise modify this Agreement at any time in such manner as it determines in its sole
discretion by written notice of intent to so amend, terminate, or modify the Agreement at least six (6) months prior to the expiration of the then-current term of this Agreement. Notwithstanding the foregoing, the Company is precluded from
giving notice of intent to amend, terminate, or otherwise modify within six months of a Change in Control or at any time at which a Change in Control with an identified party is under serious consideration; provided, however, that the parties may
agree to amend, terminate, or otherwise modify this Agreement in writing and signed by both parties hereto at any time. 

  

	 	21.	Governing Law. The parties agree that this Agreement shall be interpreted in accordance with and governed by the laws of the State of Missouri, without
regard for any conflict of law principles. Subject to Section 12, any action concerning this Agreement shall be brought in a court of competent jurisdiction in Saint Louis County, Missouri and each party consents to the venue and jurisdiction
of such courts. 

  

	 	22.	Headings. Section headings are provided in this Agreement for convenience only and shall not be deemed to substantively alter the content of such
sections. 

  

	 	23.	Section 409A Savings Clause. The payments and benefits under this Agreement are intended to be exempt from the provisions of 409A of the Code, and
the Agreement shall be interpreted consistently with this intent. 

  
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 IN WITNESS WHEREOF,
the parties have executed this Change in Control Agreement this              day of December 2010. 
 I UNDERSTAND THAT THIS AGREEMENT HAS A BINDING ARBITRATION PROVISION WHICH CAN BE ENFORCED BY THE PARTIES. 
  

									
	SIGMA-ALDRICH CORPORATION	 		 	EXECUTIVE
					
	By	 	  
	 		 	By	 	  

  

	*	Note: The 2.99 multiple applies to the Chief Executive Officer and all officers hired before January 1, 2010. Officers hired after that date will have a 1
or 2 multiplier applied, depending on their compensation grade 

  
 122005 Executive Stock Unit Program

  
 Exhibit 10.2

 LEGGETT & PLATT, INCORPORATED 
 2005 EXECUTIVE STOCK UNIT PROGRAM 
 As amended and restated, effective
April 1, 2011 
 TABLE OF CONTENTS 
  

							
	 	    	 	  	Page	 
	1. NAME AND PURPOSE	  	 	1	  
	 1.1
	    	Name	  	 	1	  
	 1.2
	    	Purpose	  	 	1	  
		
	2. DEFINITIONS	  	 	1	  
	 2.1
	    	Account	  	 	1	  
	 2.2
	    	Additional Matching Contribution	  	 	1	  
	 2.3
	    	Beneficiary	  	 	1	  
	 2.4
	    	Board	  	 	1	  
	 2.5
	    	Calendar Year	  	 	1	  
	 2.6
	    	Change in Control	  	 	1	  
	 2.7
	    	Committee	  	 	1	  
	 2.8
	    	Common Stock	  	 	1	  
	 2.9
	    	Company	  	 	1	  
	 2.10
	    	Company Stock Account	  	 	1	  
	 2.11
	    	Compensation	  	 	1	  
	 2.12
	    	Contributions	  	 	2	  
	 2.13
	    	Disability	  	 	2	  
	 2.14
	    	Diversified Account	  	 	2	  
	 2.15
	    	Diversified Investments	  	 	2	  
	 2.16
	    	Dividend Contribution	  	 	2	  
	 2.17
	    	Election	  	 	2	  
	 2.18
	    	Employer	  	 	2	  
	 2.19
	    	ERISA	  	 	2	  
	 2.20
	    	Fair Market Value	  	 	2	  
	 2.21
	    	FICA - HI	  	 	3	  
	 2.22
	    	Investment Election	  	 	3	  
	 2.23
	    	Key Employee	  	 	3	  
	 2.24
	    	Management Committee	  	 	3	  
	 2.25
	    	Matching Contribution	  	 	3	  
	 2.26
	    	Participant	  	 	3	  
	 2.27
	    	Participant’s Contribution	  	 	3	  
	 2.28
	    	Premium Contribution	  	 	3	  
	 2.29
	    	Section 16 Officers	  	 	3	  
	 2.30
	    	Section 409A	  	 	3	  
	 2.31
	    	Separation from Service	  	 	3	  
	 2.32
	    	Specified Employee	  	 	3	  
	 2.33
	    	Stock Unit	  	 	3	  
	 2.34
	    	Unforeseeable Emergency	  	 	3	  

  
 i 

  

							
	 2.35
	    	Year of Service	  	 	4	  
	 2.36
	    	Year of Vesting Service	  	 	4	  
		
	3. ELIGIBILITY AND PARTICIPATION	  	 	4	  
	 3.1
	    	Selection of Participants	  	 	4	  
	 3.2
	    	Continued Eligibility	  	 	4	  
		
	4. CONTRIBUTIONS AND PARTICIPANT ACCOUNTS	  	 	4	  
	 4.1
	    	Accounts	  	 	4	  
	 4.2
	    	Participant Contributions	  	 	4	  
	 4.3
	    	Premium Contributions	  	 	4	  
	 4.4
	    	Matching Contributions	  	 	5	  
	 4.5
	    	Additional Matching Contributions	  	 	5	  
	 4.6
	    	Dividend Contributions	  	 	5	  
	 4.7
	    	Participant’s Election	  	 	5	  
	 4.8
	    	Participant’s Investment Election	  	 	5	  
	 4.9
	    	Treatment of Performance Compensation for Certain Newly Eligible Participants	  	 	6	  
	 4.10
	    	Change in Capitalization	  	 	6	  
	 4.11
	    	Impact of Deferred Compensation Program	  	 	6	  
		
	5. DISTRIBUTION	  	 	6	  
	 5.1
	    	Distribution	  	 	6	  
	 5.2
	    	Form of Distribution	  	 	7	  
	 5.3
	    	Withholding from Distributions	  	 	7	  
	 5.4
	    	Forfeiture of Stock Units	  	 	7	  
	 5.5
	    	Beneficiary	  	 	7	  
	 5.6
	    	Distribution Upon Unforeseeable Emergency or Change in Control	  	 	7	  
	 5.7
	    	Change in Form of Distribution	  	 	7	  
		
	6. ADMINISTRATION	  	 	8	  
	 6.1
	    	Administration	  	 	8	  
	 6.2
	    	Committee’s Authority	  	 	8	  
	 6.3
	    	Section 16 Officers	  	 	8	  
	 6.4
	    	Compliance with Applicable Law	  	 	8	  
		
	7. CLAIMS	  	 	8	  
	 7.1
	    	Adjudication of Claims	  	 	8	  
	 7.2
	    	Notice of Denial	  	 	8	  
	 7.3
	    	Contents of Notice of Denial	  	 	9	  
	 7.4
	    	Right to Review	  	 	9	  
	 7.5
	    	Application to Review	  	 	9	  
	 7.6
	    	Hearing	  	 	10	  
	 7.7
	    	Decision on Review	  	 	10	  
		
	8. GENERAL PROVISIONS	  	 	11	  
	 8.1
	    	No Contract	  	 	11	  
	 8.2
	    	No Assignment	  	 	11	  

  
 ii 

  

							
	 8.3
	    	Unfunded Program	  	 	11	  
	 8.4
	    	No Trust Created	  	 	11	  
	 8.5
	    	Binding Effect	  	 	11	  
	 8.6
	    	Amendments and Termination	  	 	11	  
	 8.7
	    	Governing Law	  	 	11	  
	 8.8
	    	Notices	  	 	11	  
	 8.9
	    	Committee’s Right	  	 	11	  

  
 iii

  
 LEGGETT &
PLATT, INCORPORATED 
 2005 EXECUTIVE STOCK UNIT PROGRAM 

As amended and restated, effective April 1, 2011 
  

	1.	NAME AND PURPOSE 

1.1 Name. The name of this Program is the “Leggett & Platt, Incorporated 2005 Executive Stock Unit
Program.” 
 1.2 Purpose. This Program is intended to attract, motivate, retain and reward Key Employees by
giving them the opportunity to build retirement savings while sharing in the appreciation in value of the Company’s Common Stock and Diversified Investments. The Program is an unfunded deferred compensation plan for a select group of management
and/or highly compensated employees as described in ERISA. The Program is established pursuant to the Leggett & Platt, Incorporated Flexible Stock Plan. 
  

	2.	DEFINITIONS  

 2.1
Account. A separate book account established by the Company or its third party agent to track Stock Units and Diversified Investments for each Participant. 
 2.2 Additional Matching Contribution. The Company’s additional contribution of amounts to a Participant’s Account made pursuant to Section 4.5. 

2.3 Beneficiary. The person or persons designated as the recipient of a deceased Participant’s benefits under the
Program. 
 2.4 Board. The Board of Directors of the Company. 

2.5 Calendar Year. Any calendar year beginning on or after January 1, 2005. 

2.6 Change in Control. “Change in Control” shall be defined as any event qualifying for a distribution of
deferred compensation under Section 409A(a)(2)(A)(v) of the Internal Revenue Code. 
 2.7 Committee. The
Flexible Stock Plan Committee of the Board or, except as to Section 16 Officers, the Management Committee or any person to whom the administrative authority has been delegated by the Committee. 

2.8 Common Stock. The Company’s $.01 par value common stock. 

2.9 Company. Leggett & Platt, Incorporated. 

2.10 Company Stock Account. That portion of a Participant’s Account denominated in Stock Units. 

2.11 Compensation. Salary, bonuses, and all other forms of cash compensation, to the extent designated by the Committee,
for services performed for, and earned and vested in, a Calendar Year. In the case of a sales representative whose regular paycheck includes funds for travel and expenses, Compensation means 75% of the total. For purposes of determining the

  
 1 

 
amount of Compensation that a Participant is eligible to defer, Compensation will also include remuneration which would have been received in cash but for the Participant’s election to defer
such remuneration in accordance with any deferred compensation program of the Company; provided that no such Compensation that is deferred under another plan will actually be deferred under this Program. Any amounts considered as Compensation by
virtue of the preceding sentence will be counted as Compensation only once and will not be counted as Compensation in a future Calendar Year, even if the benefits derived from such compensation are includible in the Participant’s taxable income
in a subsequent year. Compensation will not include any bonus earned and vested in a Calendar Year, but to be paid in a subsequent Calendar Year, if the Participant is not eligible to participate in this Program during such subsequent Calendar Year.

 2.12 Contributions. The amounts contributed to a Participant’s Account, which include Participant
Contributions, Premium Contributions, Matching Contributions, Additional Matching Contributions and Dividend Contributions. 

2.13 Disability. A Participant is considered disabled if the Participant (i) is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any
medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months
under an accident and health plan covering employees of the Participant’s employer. 
 2.14 Diversified Investment
Account. That portion of a Participant’s Account denominated in Diversified Investments. 
 2.15 Diversified
Investments. Various investments (including mutual funds, bonds, etc.) offered under the Program, intended to mirror the investment alternatives offered in the Company’s 401(k) Plan. The Diversified Investments are subject to change, as
determined by the Company’s Investment Committee. If the Investment Committee replaces an underperforming fund with another similar investment, all the balances in the underperforming fund will be transferred to the new investment. If an
investment category is deleted, the Investment Committee will determine to which investment option the assets should be mapped. 

2.16 Dividend Contribution. The Company’s contribution of dividend amounts to a Participant’s Company Stock
Account made pursuant to Section 4.6. 
 2.17 Election. A Participant’s election to contribute
Compensation, which sets forth the percentage of Compensation to be contributed, the method of distribution of Stock Units and such other items as the Committee may require. 
 2.18 Employer. The Company or any directly or indirectly majority-owned subsidiary, partnership or limited liability company of the Company. 

2.19 ERISA. The Employee Retirement Income Security Act of 1974, as amended. 

2.20 Fair Market Value. The closing price of Common Stock on a given date as reported on the New York Stock Exchange
composite tape or, in the absence of sales on a given date, the closing price (as so reported) on the New York Stock Exchange on the last day on which a sale occurred prior to such date. 

  
 2 

  
 2.21
FICA-HI. The Hospital Insurance tax under the Federal Income Contributions Act, as amended. 
 2.22
Investment Election. The Participant’s election to direct Participant Contributions and Premium Contributions into the Diversified Investments offered under the Program. 

2.23 Key Employee. A management and/or highly compensated employee of the Employer. 

2.24 Management Committee. A committee selected by the Board that is authorized to act on behalf of the Committee under the
Program, except with respect to Section 16 Officers. 
 2.25 Matching Contribution. The Company’s
contribution of amounts to a Participant’s Company Stock Account equal to 50% of a Participant’s Contribution made pursuant to Section 4.4. 
 2.26 Participant. A Key Employee selected to participate in the Program who has delivered a signed Election to the Company. 

2.27 Participant’s Contribution. The Participant’s contribution of Compensation which is used to acquire
Diversified Investments pursuant to Section 4.2. 
 2.28 Premium Contribution. The Company’s
contribution equal to 17.65% of the Participant Contribution used to acquire Diversified Investments pursuant to Section 4.3. 
 2.29 Section 16 Officers. All officers of the Company subject to the requirements of Section 16 of the Securities Exchange Act of 1934. 

2.30 Section 409A. Section 409A of the Internal Revenue Code, including all regulations and other guidance of
general applicability issued thereunder. 
 2.31 Separation from Service. A termination of employment or other
event as defined under Section 409A. Generally, a Separation of Service is deemed to have occurred when a Participant’s services have been reduced to a rate that is expected to be 20% or less of the average rate of services performed by
the Participant in the 36 months preceding the reduction. 
 2.32 Specified Employee. Any Participant meeting the
definition of “specified employee” under Section 409A(a)(2)(B)(i). 
 2.33 Stock Unit. A unit of
account deemed to equal a single share (or fractional share) of the Company’s Common Stock. 
 2.34 Unforeseeable
Emergency. A severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, or a dependent of the Participant, loss of the Participant’s property due to casualty, or
other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. 

  
 3 

  
 2.35 Year of
Service. Any calendar year in which the Participant completes 1,000 hours of service. An hour of service means any hour for which the Employer pays the Participant, including hours paid for vacation, illness or disability. If the Participant
was employed by a company or division acquired by the Company, the Participant’s service will include hours of service with the acquired company for purposes of eligibility. However, for purposes of determining Years of Vesting Service under
Section 5.4, the Participant’s service will begin on the acquisition date. 
 2.36 Year of Vesting
Service. Any Year of Service except any year when the Participant is or was eligible to make contributions to this Program or the Stock Bonus Plan but declined to make such contributions. 

 

	3.	ELIGIBILITY AND PARTICIPATION 

 3.1 Selection of Participants. The Committee will select the Key Employees eligible to become Participants. Unless waived by the Committee, a Key Employee must have at least one Year of
Service to be eligible to participate in the Program. 
 3.2 Continued Eligibility. The Committee may revoke a
Participant’s right to participate if he no longer meets the Program’s eligibility requirements or for any other reason. If a Participant’s employment is terminated for any reason, his right to participate in the Program will cease.
Except as provided in Section 5.4, such termination will not affect Stock Units and Diversified Investments already credited to his Account. 
  

	4.	CONTRIBUTIONS AND PARTICIPANT ACCOUNTS  

 4.1 Accounts. An Account will be established for each Participant to track the Participant’s Stock Units and Diversified Investments. An Account is a bookkeeping device only,
established for the purpose of crediting and tracking notional investments made by the Participant in the Stock Units and Diversified Investments. Each Account will track Company Stock and Diversified Investments separately. 

4.2 Participant Contributions. Each Participant may elect to contribute to the Program a percentage of his Compensation
above a certain threshold. For 2011, the threshold is a base salary of $26,995 which amount may be increased for years after 2011. The Committee will determine the maximum Participant Contribution percentage. Participant’s Contributions will be
made on a bi-weekly basis or as Compensation otherwise would have been paid, unless the Committee determines otherwise. 
 All
Participant Contributions will be directed into the Diversified Investments elected by the Participant and held in the Participant’s Diversified Account. If a Participant has not elected Diversified Investments, Participant Contributions will
be directed into the default Diversified Investment established by the Company’s Investment Committee until the Participant elects other Diversified Investments. 
 4.3 Premium Contributions. The Company will make a Premium Contribution equal to 17.65% of the Participant’s Contribution (equivalent to the 15% discount purchase of Stock Units
acquired in the Company Stock Account). Premium Contributions will be made at the same time as the Participant’s Contributions and will be directed into the Diversified Investments elected by the Participant, or in the absence of an Investment
Election, into the default Diversified Investment established by the Committee. 

  
 4 

  
 4.4 Matching
Contributions. The Company will make a Matching Contribution to the Participant’s Company Stock Account equal to 50% of the Participant’s Contribution. Matching Contributions will be made at the same time as the Participant’s
Contributions and will acquire Stock Units at a price equal to 85% of the Fair Market Value of a share of Common Stock on the date such Contributions are made. 

4.5 Additional Matching Contributions. The Company will make an Additional Matching Contribution to the
Participant’s Company Stock Account equal to a percentage of the Participant’s Contribution for the applicable Calendar Year if the Company’s return on capital employed (“ROCE”) for the Calendar Year meets the
threshold level established for corporate payouts under the Key Officers Incentive Plan (the “Incentive Plan”). ROCE will be calculated in the same manner as it is calculated under the Incentive Plan for a given year. The Additional
Matching Contribution will begin at 25% of the Participant’s Contribution for the applicable Calendar Year for ROCE achievement at the threshold level and increase ratably to a maximum 50% of the Participant’s Contribution for ROCE
achievement at the target level, with such threshold and target levels to be determined by the Compensation Committee. Such Contribution will be credited to the Company Stock Account of each Participant who was employed as of the last business day
of the Calendar Year, plus each Participant whose employment terminated prior to such date (a) due to Disability or death, or (b) after the Participant has attained 55 years of age and has at least 5 Years of Vesting Service. Additional
Matching Contributions, if any, will be credited to the Participant’s Company Stock Account by
March 15th following the applicable Calendar Year.

 4.6 Dividend Contributions. On the date a cash dividend is paid on Common Stock, the Company will make a
Dividend Contribution to the Participant’s Company Stock Account equal to the per share cash dividend on the number of Stock Units credited to the Participant’s Company Stock Account on the dividend record date. 

4.7 Participant’s Election. A Participant’s Election (including contribution percentage and form of distribution)
will be made in a form approved by the Committee. The Election must be made on or before December 31 for Compensation for services performed and to be earned and vested in the following Calendar Year, except that newly eligible Participants
may, within 30 days of first becoming eligible for participation, make an Election for Compensation for services performed and earned subsequent to the date of Election. 
 On or before December 31 of each year following the Participant’s initial Election, the Participant may change his contribution percentage for the next Calendar Year or may terminate his
Election for the next Calendar Year. If no change or termination is received by December 31, the Participant’s Election will irrevocably carry forward for the next Calendar Year. The Participant may not change the form of distribution
selected in the initial Election, except as provided in Section 5.7. 
 The Committee may provide for Elections at any
other times with respect to all or any part of Compensation or Contributions to the extent that such Elections are consistent with the requirements of Section 409A. 
 4.8 Participant’s Investment Election. Participants may choose the percentage of their Participant Contributions they wish to direct into each Diversified Investment. Participants

  
 5 

 
will make their Investment Elections online via secure Account access provided by the Company’s third party record keeper. Participants may change their Investment Elections as to future
Participant Contributions or the portion of existing Accounts consisting of Diversified Investments at any time subject to normal administrative procedures, unless otherwise determined by the Committee. Each Participant will be solely responsible
for the selection of his or her investment choices. 
 4.9 Treatment of Performance Compensation for Certain Newly
Eligible Participants. A Participant may become newly eligible for the Program due to a Compensation increase, whereas he was previously eligible for a qualified Company benefit (e.g. the Stock Bonus Plan). A Participant may not defer
performance compensation (e.g. an annual bonus) payable in his first year of eligibility if any portion of it was for services performed, or if it was earned and vested, prior to his becoming eligible to participate in the Program. In such a case,
the Company will make the Matching Contribution and any Additional Matching Contribution as though the Participant’s Contribution had been made with respect to performance compensation received in the first year of eligibility. 

4.10 Change in Capitalization. In the event of a stock dividend, stock split, merger, consolidation or other
recapitalization of the Company affecting the number of outstanding shares of Common Stock, the number of Stock Units credited to a Participant’s Account will be appropriately adjusted. 

4.11 Impact of Deferred Compensation Program. Some Participants defer 100% of their Compensation under the Company’s
Deferred Compensation Program. Since the Compensation remaining after such a deferral is not sufficient to allow the Participant to make the full Participant’s Contribution, the Company will make the Matching Contribution and any Additional
Matching Contribution as though the full Participant’s Contribution had been made. 
  

	5.	DISTRIBUTION 

 5.1
Distribution. Except in the case of Specified Employees, distribution of a Participant’s Account will be made within 90 days after Separation from Service, Disability or death. Distribution of a Specified Employee’s Account
will be made six months after Separation from Service (other than by Disability or death) in order to conform to Section 409A. 
 Distribution of a Participant’s Account will be based on the number of shares or units and market value of the investments held in the Account upon Separation of Service. A Participant’s
Diversified Investment Account will be settled in cash, and the Company Stock Account will be settled in shares of the Company’s Common Stock. Prior to distribution, the Stock Units held in the Participant’s Company Stock Account will be
converted to whole shares of Common Stock, with any fractional share rounded to the nearest whole share. 
 If Stock Units are
credited to the Participant’s Company Stock Account after a distribution has been made (e.g., as a result of Dividend Contributions or Additional Matching Contributions), a subsequent distribution of those Stock Units will be made within
60 days of the date the Stock Units are credited to the Participant’s Company Stock Account, which distribution in the case of the Additional Matching Contribution will occur in the Calendar Year following the Calendar Year of Separation from
Service. 

  
 6 

  
 Although the Company
intends to settle Participants’ Accounts in shares of the Company’s Common Stock, notwithstanding any other provision of the Program, the Company reserves the right to pay Stock Units in cash in lieu of shares of Common Stock. If settled
in cash, the amount of the distribution will be equal to the Fair Market Value of the number of shares of Common Stock that would otherwise be issued. Fair Market Value shall be determined at the date the shares would otherwise have been issued.

 5.2 Form of Distribution. Participants may elect to receive distributions of their Accounts in (a) a lump
sum amount, or (b) annual installments for up to 15 years. Annual installment distributions will be made by January 31st of each Calendar Year following the Calendar Year of the initial distribution. Each annual distribution will be equal
to the balance of the Account divided by the number of payments remaining. 
 5.3 Withholding from Distributions.
The Company will withhold from distributions any amount required to pay applicable taxes (at the Company’s required withholding rate). The tax withholding for distributions from the Participant’s Company Stock Account will be made in
shares of Common Stock. Alternatively, the Participant may pay such taxes in cash if he makes suitable arrangements with the Company before the distribution date. The Company may, at any time, require a Participant to settle the tax liability in
cash. 
 5.4 Forfeiture of Stock Units. Notwithstanding the above, if a Participant who has less than 5 Years of
Vesting Service has a Separation from Service, the Participant will forfeit any Stock Units acquired by Company Matching and Additional Matching Contributions (unless the Committee determines otherwise). However, such Stock Units will not be
forfeited if the Participant has a Separation from Service due to death or Disability. 
 5.5 Beneficiary. If a
Participant dies before he has received all distributions due under the Program, the remaining distributions will be made to his Beneficiary. Each Participant may designate a Beneficiary and change his Beneficiary from time to time. No such
designation will become effective until received in writing by the Company. If a Participant has no living designated Beneficiary, then his Beneficiary will be his personal representative. 

5.6 Distribution Upon Unforeseeable Emergency or Change in Control. In the event of an Unforeseeable Emergency, the
Committee may authorize an immediate distribution to the Participant as permitted under Section 409A. In addition, the Committee may terminate and liquidate the Program within 30 days preceding or 12 months after a Change in Control and direct
all payments to be made within 12 months of its action to the extent permitted under Section 409A. 
 5.7 Change in
Form of Distribution. A Participant may extend the payout period of an installment election or change the form of distribution, not to exceed the maximum payout period of 15 years or such other period determined by the Committee. For
purposes of the foregoing, each payment in an installment distribution will be deemed a separate payment and each payout date in an installment distribution election will be treated as a separate election. The election change must be made not less
than 12 months prior to Separation from Service and must extend the first distribution payment by at least 5 years, consistent with the requirements of Section 409A. 

  
 7 

  

	6.	ADMINISTRATION 

6.1 Administration. Except to the extent the Committee otherwise designates pursuant to Section 6.2(f), the Committee
will control and manage the operation and administration of the Program. 
 6.2 Committee’s Authority. The
Committee will have such authority and discretion as may be necessary to discharge its responsibilities under the Program, including the authority and discretion to: (a) interpret the provisions of the Program; (b) adopt rules of procedure
consistent with the Program; (c) determine questions relating to benefits and rights under the Program; (d) maintain records concerning the Program; (e) determine the content and form of the Participant’s Election and all other
documents required to carry out the Program; and (f) designate any Company employee or committee, including the Management Committee, to carry out any of the Committee’s duties, including authority to manage the operation and
administration of the Program. 
 6.3 Section 16 Officers. Notwithstanding the foregoing, the Committee may
not delegate its authority with respect to Section 16 Officers. 
 6.4 Compliance with Applicable Law.
Notwithstanding anything contained in the Program or in any document issued under the Program, it is intended that the Program will at all times meet the requirements of Section 409A and any regulations or other guidance issued thereunder, and
that the provisions of the Program will be interpreted to meet such requirements. 
  

	7.	CLAIMS 

 7.1
Adjudication of Claims. The Committee and the Company’s Secretary will make all determinations regarding benefits under the Program in accordance with ERISA. 

7.2 Notice of Denial. If a Participant (or other person entitled to file a claim for benefits under ERISA) (a
“claimant”) is denied a claim for benefits under the Program, the Committee shall provide to the claimant written notice of the denial within ninety (90) days (forty-five (45) days with respect to a denial of any claim for
benefits due to the Participant’s Disability) after the Committee receives the claim, unless special circumstances require an extension of time for processing the claim. If such an extension of time is required, written notice of the extension
shall be furnished to the claimant prior to the termination of the initial 90-day or 45-day period, as applicable. In no event shall the extension exceed a period of ninety (90) days (thirty (30) days with respect to a claim for benefits
due to the Participant’s Disability) from the end of such initial period. With respect to a claim for benefits due to the Participant’s Disability, an additional extension of up to thirty (30) days beyond the initial 30-day extension
period may be required for processing the claim. In such event, written notice of the extension shall be furnished to the claimant within the initial 30-day extension period. Any extension notice shall indicate the special circumstances requiring
the extension of time, the date by which the Committee expects to render the final decision, the standards on which entitlement to benefits are based, the unresolved issues that prevent a decision on the claim and the additional information needed
to resolve those issues. 

  
 8 

  
 7.3 Contents of
Notice of Denial. If a claimant is denied a claim for benefits under the Program, the Committee shall provide to such claimant written notice of the denial which shall set forth: (a) the specific reasons for the denial;
(b) specific references to the pertinent provisions of the Program on which the denial is based; (c) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such
material or information is necessary; (d) an explanation of the Program’s claim review procedures, and the time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under
Section 502(a) of ERISA following an adverse benefit determination on review; (e) in the case of a claim for benefits due to a Participant’s Disability, if an internal rule, guideline, protocol or other similar criterion is relied
upon in making the adverse determination, either the specific rule, guideline, protocol or other similar criterion; or a statement that such rule, guideline, protocol or other similar criterion was relied upon in making the decision and that a copy
of such rule, guideline, protocol or other similar criterion will be provided free of charge upon request; and (f) in the case of a claim for benefits due to a Participant’s Disability, if a denial of the claim is based on a medical
necessity or experimental treatment or similar exclusion or limit, an explanation of the scientific or clinical judgment for the denial, an explanation applying the terms of the Program to the claimant’s medical circumstances or a statement
that such explanation will be provided free of charge upon request. 
 7.4 Right to Review. After receiving
written notice of the denial of a claim, a claimant or his representative shall be entitled to: (a) request a full and fair review of the denial of the claim by written application to the Committee (or Appeals Fiduciary in the case of a claim
for benefits payable due to a Participant’s Disability); (b) request, free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claim; (c) submit written comments, documents,
records, and other information relating to the denied claim to the Committee or Appeals Fiduciary, as applicable; and (d) a review that takes into account all comments, documents, records, and other information submitted by the claimant
relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. 
 7.5 Application for Review. 
 (a) If a claimant wishes a review of
the decision denying his claim to benefits under the Program, other than a claim described in Subsection (b) of this Section, he must submit the written application to the Committee within sixty (60) days after receiving written notice of
the denial. 
 (b) If the claimant wishes a review of the decision denying his claim to benefits under the Program due to a
Participant’s Disability, he must submit the written application to the Appeals Fiduciary within one hundred eighty (180) days after receiving written notice of the denial. With respect to any such claim, in deciding an appeal of any
denial based in whole or in part on a medical judgment, the Appeals Fiduciary shall: (i) consult with a health care professional who has appropriate training and experience in the field of medicine involved in the medical judgment; and
(ii) identify the medical and vocational experts whose advice was obtained on behalf of the Program in connection with the denial without regard to whether the advice was relied upon in making the determination to deny the claim.
Notwithstanding the foregoing, the health care professional consulted pursuant to this Subsection (b) shall be an individual who was not consulted with respect to the initial denial of the claim that is the subject of the appeal or a
subordinate of such individual. 

  
 9 

  
 7.6
Hearing. Upon receiving a written application for review, the Committee or Appeals Fiduciary, as applicable, may schedule a hearing for purposes of reviewing the claimant’s claim, which hearing shall take place not more than
thirty (30) days from the date on which the Committee or Appeals Fiduciary received such written application for review. At least ten (10) days prior to the scheduled hearing, the claimant and his representative designated in writing by
him, if any, shall receive written notice of the date, time, and place of such scheduled hearing. The claimant or his representative, if any, may request that the hearing be rescheduled, for his convenience, on another reasonable date or at another
reasonable time or place. All claimants requesting a review of the decision denying their claim for benefits may employ counsel for purposes of the hearing. 
 7.7 Decision on Review. No later than sixty (60) days (forty-five (45) days with respect to a claim for benefits due to the Participant’s Disability) following the receipt of
the written application for review, the Committee or the Appeals Fiduciary, as applicable, shall submit its decision on the review in writing to the claimant involved and to his representative, if any, unless the Committee or Appeals Fiduciary
determines that special circumstances (such as the need to hold a hearing) require an extension of time, to a day no later than one hundred twenty (120) days (ninety (90) days with respect to a claim for benefits due to the
Participant’s Disability) after the date of receipt of the written application for review. If the Committee or Appeals Fiduciary determines that the extension of time is required, the Committee or Appeals Fiduciary shall furnish to the claimant
written notice of the extension before the expiration of the initial sixty (60) day (forty-five (45) days with respect to a claim for benefits due to the Participant’s Disability) period. The extension notice shall indicate the
special circumstances requiring an extension of time and the date by which the Committee or Appeals Fiduciary expects to render its decision on review. In the case of a decision adverse to the claimant, the Committee or Appeals Fiduciary shall
provide to the claimant written notice of the denial which shall include: (a) the specific reasons for the decision; (b) specific references to the pertinent provisions of the Program on which the decision is based; (c) a statement
that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits; (d) a statement describing any
available voluntary appeal procedures (if any) and of the claimant’s right to obtain information about such procedures as required by ERISA and a statement of the claimant’s right to bring an action under Section 502(a) of ERISA
following the denial of the claim upon review; (e) in the case of a claim for benefits due to the Participant’s Disability, if an internal rule, guideline, protocol or other similar criterion is relied upon in making the adverse
determination, either the specific rule, guideline, protocol or other similar criterion; or a statement that such rule, guideline, protocol or other similar criterion was relied upon in making the decision and that a copy of such rule, guideline,
protocol or other similar criterion will be provided free of charge upon request; (f) in the case of a claim for benefits due to a Participant’s Disability, if a denial of the claim is based on a medical necessity or experimental treatment
or similar exclusion or limit, an explanation of the scientific or clinical judgment for the denial, an explanation applying the terms of the Program to the claimant’s medical circumstances or a statement that such explanation will be provided
free of charge upon request; and (g) in the case of a claim for benefits due to a Participant’s Disability, a statement regarding the availability of other voluntary alternative dispute resolution options. 

  
 10 

  

	8.	GENERAL PROVISIONS 

8.1 No Contract. Nothing contained in the Program will restrict the right of the Employer to discharge a Participant or the
right of a Participant to resign from employment. The Program should not be construed as an employment contract. 
 8.2 No
Assignment. No Participant or Beneficiary may transfer, assign or otherwise encumber any benefits payable by the Company under the Program. Such benefits may not be seized by any creditor of Participant or Beneficiary or transferred by
operation of law in the event of bankruptcy, insolvency or death. Any attempted assignment or transfer will be void. 
 8.3
Unfunded Program. No person will have any interest in the Company’s assets by virtue of the Program. No Participant or Beneficiary will have any of the rights of a shareholder with respect to Stock Units. 

8.4 No Trust Created. The Program and any action taken pursuant to the Program should not be construed as creating a trust
or other fiduciary relationship between the Company, the Participant, his Beneficiary or any other person. 
 8.5 Binding
Effect. The Program will be binding upon and inure to the benefit of the Company, its successors and assigns, and each Participant, his heirs, personal representatives, and Beneficiaries. 

8.6 Amendments and Termination. The Company will have the right to amend or terminate the Program at any time. However, no
such amendment or termination will deprive any Participant of the right to distribution of Stock Units previously credited to his Account. The Committee may require that distributions commence following termination and all distributions following
termination be made in a lump sum to the extent permitted under Section 409A. Timing of distributions following termination will be made consistent with the requirements of Section 409A. 

8.7 Governing Law. To the extent not preempted by ERISA, this Program will be governed by Missouri law. 

8.8 Notices. Any notice or claim given under the Program will be in writing and signed by the party giving the same. If
such notice or claim is mailed, it will be sent by United States first class mail, postage prepaid, addressed to the recipient’s last known address as shown on the Company’s records. The date of such mailing will be deemed the date of
notice. 
 8.9 Committee’s Right. To the extent permitted by Section 409A, the Committee retains the
right to delay a Participant distribution if the payment of such distribution would violate securities laws, eliminate or reduce the Company’s tax deduction by application of Section 162(m) of the Internal Revenue Code, violate loan
covenants or other contractual terms to which the Company is a party, or otherwise result in material harm to the Company. 

  
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