Document:

EnPro Industries, Inc. Management Stock Purchase Deferral Plan

 Exhibit 10.1 
 ENPRO INDUSTRIES, INC. MANAGEMENT STOCK PURCHASE DEFERRAL PLAN 
 (AS
ESTABLISHED EFFECTIVE OCTOBER 29, 2012) 

 EnPro Industries, Inc. Management Stock Purchase Deferral Plan 

(Established Effective October 29, 2012) 
 Table of Contents 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	2	  
	 1.1
	 	 Account
	  	 	2	  
	 1.2
	 	 Beneficiary
	  	 	2	  
	 1.3
	 	 Board
	  	 	2	  
	 1.4
	 	 Change in Control
	  	 	2	  
	 1.5
	 	 Code
	  	 	3	  
	 1.6
	 	 Committee
	  	 	4	  
	 1.7
	 	 Common Stock
	  	 	4	  
	 1.8
	 	 Company
	  	 	4	  
	 1.9
	 	 Covered Incentive Award
	  	 	4	  
	 1.10
	 	 Effective Date
	  	 	4	  
	 1.11
	 	 Eligible Employee
	  	 	4	  
	 1.12
	 	 Employee
	  	 	4	  
	 1.13
	 	 Exchange Act
	  	 	4	  
	 1.14
	 	 Fair Market Value
	  	 	4	  
	 1.15
	 	 Participant
	  	 	4	  
	 1.16
	 	 Participating Employer
	  	 	4	  
	 1.17
	 	 Payment Sub-Account
	  	 	4	  
	 1.18
	 	 Plan
	  	 	5	  
	 1.19
	 	 Plan Year
	  	 	5	  
	 1.20
	 	 Potential Change in Control
	  	 	5	  
	 1.21
	 	 Restricted Share Units
	  	 	5	  
	 1.22
	 	 Separation from Service
	  	 	5	  
	 1.23
	 	 Stock Plan
	  	 	5	  
	 1.24
	 	 Stock Unit
	  	 	5	  
		
	 ARTICLE II PLAN ADMINISTRATION
	  	 	6	  
	 2.1
	 	 Committee
	  	 	6	  
		
	 ARTICLE III ELIGIBILITY AND PARTICIPATION
	  	 	7	  
	 3.1
	 	 Eligibility
	  	 	7	  
	 3.2
	 	 Deferral Elections
	  	 	7	  

  
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	 3.3
	 	 Matching Awards of Restricted Share Units
	  	 	8	  
	 3.4
	 	 Account Adjustments
	  	 	9	  
	 3.5
	 	 Account Payments
	  	 	9	  
	 3.6,
	 	 Withdrawals on Account of an Unforeseeable Emergency
	  	 	11	  
		
	 ARTICLE IV AMENDMENT AND TERMINATION
	  	 	13	  
	 4.1
	 	 Amendment or Termination of Plan
	  	 	13	  
		
	 ARTICLE V MISCELLANEOUS PROVISIONS
	  	 	14	  
	 5.1
	 	 Nature of Plan and Rights
	  	 	14	  
	 5.2
	 	 Change in Control Set Aside
	  	 	14	  
	 5.3
	 	 Spendthrift Provision
	  	 	14	  
	 5.4
	 	 Successors
	  	 	14	  
	 5.5
	 	 Employment Noncontractual
	  	 	15	  
	 5.6
	 	 Applicable Law
	  	 	15	  
	 5.7
	 	 Compliance with Code Section 409A
	  	 	15	  
	 5.8
	 	 Employees Based Outside the United Stated
	  	 	15	  
	 5.9
	 	 Claims Procedures
	  	 	15	  

  
 ii 

 ENPRO INDUSTRIES, INC.
MANAGEMENT STOCK PURCHASE DEFERRAL PLAN 

Statement of Purpose 

EnPro Industries, Inc. (the “Company”) has established the EnPro Industries, Inc. Management Stock Purchase Deferral Plan to provide Eligible
Employees an opportunity to defer a portion of their Covered Incentive Awards to be credited as Stock Units and to receive from the Company a matching award of Restricted Share Units under the Stock Plan. It is the intent of the Company that amounts
deferred under the Plan by a Participant shall not be taxable to the Participant for income tax purposes until the time they are actually received by the Participant. The provisions of the Plan shall be construed and interpreted to give effect to
this intent. 
 NOW, THEREFORE, for the purposes aforesaid, the Company hereby establishes the Plan effective as of October 29, 2012 (the
“Effective Date”) as follows: 

 ARTICLE I 
 DEFINITIONS 
 Unless the context clearly indicates otherwise, when used in
the Plan: 
  

	 	1.1	Account means the account maintained in Stock Units on the books of the Company to record a Participant’s interest under the Plan attributable to any
amounts deferred by the Participant pursuant to Section 3.2, as adjusted from time to time pursuant to the terms of the Plan. The Account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and
determination of the amounts to be paid to a Participant, or his or her Beneficiary, pursuant to the Plan. Each Account shall be divided into one or more Payment Sub-Accounts to facilitate the administration of payment elections made under
Section 3.5. 

  

	 	1.2	Beneficiary means any person or trust designated by a Participant in accordance with procedures adopted by the Committee to receive the Participant’s
Account in the event of the Participant’s death. If the Participant does not designate a Beneficiary, the Participant’s Beneficiary is his or her spouse, or if not then living, his or her estate. 

 

	 	1.3	Board means the Board of Directors of the Company. 

  

	 	1.4	Change in Control means any of the following events: 

 (a) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 20% or more of either (1) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (2) the combined voting power of the then outstanding voting
securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change in Control: (A) any
acquisition directly from the Company (other than by exercise of a conversion privilege), (B) any acquisition by the Company or any of its subsidiaries, (C) any acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any of its subsidiaries or (D) any acquisition by any company with respect to which, following such acquisition, more than 70% of, respectively, the then outstanding shares of common stock of such company and the
combined voting power of the then outstanding voting securities of such company entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities
who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such acquisition in substantially the same proportions as their ownership, solely in their capacity
as shareholders of the Company, immediately prior to such acquisition, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be; or 

  
 2 

 (b) individuals who, as of the Effective Date, constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the
Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any
such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest; or 

(c) consummation of a reorganization, merger or consolidation, in each case, with respect to which all or substantially all of the
individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such reorganization, merger or consolidation, do not, following such
reorganization, merger or consolidation, beneficially own, directly or indirectly, solely in their capacity as shareholders of the Company, more than 70% of, respectively, the then outstanding shares of common stock and the combined voting power of
the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the company resulting from such reorganization, merger or consolidation in substantially the same proportions as their ownership,
immediately prior to such reorganization, merger or consolidation of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be; or 
 (d) consummation of (1) a complete liquidation or dissolution of the Company or (2) a sale or other disposition of all or substantially all of the assets of the Company, other than to a
company, with respect to which following such sale or other disposition, more than 70% of, respectively, the then outstanding shares of common stock of such company and the combined voting power of the then outstanding voting securities of such
company entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities, solely in their capacity as shareholders of the Company, who were the
beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such sale or other disposition in substantially the same proportion as their ownership, immediately prior to such
sale or other disposition, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be. 
  

	 	1.5	Code means the Internal Revenue Code of 1986, as amended. References to the Code shall include the valid and binding governmental regulations, court decisions
and other regulatory and judicial authority issued or rendered thereunder. 

  
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	 	1.6	Committee means the Compensation and Human Resources Committee of the Board. 

 

	 	1.7	Common Stock means the common stock of the Company. 

  

	 	1.8	Company means EnPro Industries, Inc. and includes any successor thereto. 

 

	 	1.9	Covered Incentive Award means, with respect to a Participant, any incentive award payable to such Participant pursuant to any incentive compensation plan of the
Company or any Participating Employer approved for purposes of the Plan by the Committee from time to time. Covered Incentive Awards may be payable annually, quarterly, or on such other basis as provided by the applicable incentive plan.

  

	 	1.10	Effective Date has the meaning set forth in the preamble to the Plan. 

 

	 	1.11	Eligible Employee means an Employee designated as an Eligible Employee in accordance with Section 3.1. Eligible Employees are eligible to defer Covered
Incentive Awards in accordance with Section 3.2. 

  

	 	1.12	Employee means an individual employed by a Participating Employer. 

  

	 	1.13	Exchange Act means the Securities Exchange Act of 1934. 

  

	 	1.14	Fair Market Value of a share of Common Stock means the closing price of the Common Stock on the relevant date (as of 4:00 P.M. Eastern Standard Time) as reported
on the New York Stock Exchange — Composite Transactions listing (or similar report), or, if no sale was made on such date, then on the next preceding day on which such a sale was made. 

 

	 	1.15	Participant means any Eligible Employee who makes an election to participate in accordance with Section 3.2. Participant shall also include any former
Eligible Employee who continues to have an Account maintained under the Plan. 

  

	 	1.16	Participating Employer means (a) the Company and (b) any other entity affiliated with the Company and designated as a participating employer under this
Plan from time to time by the Committee, and their respective successors and assigns. As of the effective date of the Plan, the Participating Employers are as set forth on Exhibit A attached to the Plan. Exhibit A may be updated from
time to time by the Committee. 

  

	 	1.17	Payment Sub-Account means a portion of a Participant’s Account established by the Committee to facilitate the administration of distributions under the
Plan. A separate Payment Sub-Account shall be established for a Participant for each separate Plan Year that deferrals are made under Section 3.2, as adjusted from time to time pursuant to the terms of the Plan. 

  
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	 	1.18	Plan means the EnPro Industries, Inc. Management Stock Purchase Deferral Plan, as the same may be amended from time to time. 

 

	 	1.19	Plan Year means the twelve-month period commencing January 1 and ending the following December 31. 

 

	 	1.20	Potential Change in Control means any of the following events: 

 (a) the Company entering into an agreement, the consummation of which would result in the occurrence of a Change in Control; 

(b) the Company or any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act)
publicly announcing an intention to take actions, which if consummated, would constitute a Change in Control; or 
 (c)
the Board in its sole and exclusive discretion determining, based on facts and circumstances, that there is a possible Change in Control. 
  

	 	1.21	Restricted Share Units means an award of restricted share units under the Stock Plan as described in Section 3.3. 

 

	 	1.22	Separation from Service means a Participant’s “separation from service” with the Participating Employers within the meaning of Section 409A
of the Code and any related administrative policies of the Participating Employers. 

  

	 	1.23	Stock Plan means the EnPro Industries, Inc. 2002 Equity Compensation Plan, as the same may be amended from time to time, or any successor plan thereto.

  

	 	1.24	Stock Unit means a unit having a value as of a given date equal to the Fair Market Value of one (1) share of Common Stock on such date.

  
 5 

 ARTICLE II 
 PLAN ADMINISTRATION 
  

	 	2.1	Committee 

 The Plan shall
be administered by the Committee. The Committee shall be empowered to interpret the provisions of the Plan and to perform and exercise all of the duties and powers granted to it under the terms of the Plan by action of a majority of its members in
office from time to time. The Committee may adopt such rules and regulations for the administration of the Plan as are consistent with the terms hereof and shall keep adequate records of its proceedings and acts. All interpretations and decisions
made (both as to law and fact) and other action taken by the Committee with respect to the Plan shall be conclusive and binding upon all parties having or claiming to have an interest under the Plan. Not in limitation of the foregoing, the Committee
shall have the discretion to decide any factual or interpretative issues that may arise in connection with its administration of the Plan (including without limitation any determination as to claims for benefits hereunder), and the Committee’s
exercise of such discretion shall be conclusive and binding on all affected parties as long as it is not arbitrary or capricious. The Committee may delegate any of its duties and powers hereunder to the extent permitted by applicable law.

  
 6 

 ARTICLE III 
 ELIGIBILITY AND PARTICIPATION 
  

	 	3.1	Eligibility 

 The
Committee shall designate which Employees shall be Eligible Employees for a given Plan Year. An Employee designated as an Eligible Employee with respect to one Plan Year need not be designated as an Eligible Employee for any subsequent Plan Year.
The Plan is intended to limit eligibility to a “select group of management or highly compensated employees” within the meaning of the Employee Retirement Income Security Act of 1974, as amended. 

 

	 	3.2	Deferral Elections 

(a) Time and Form of Elections: Elections to defer an Eligible Employee’s Covered Incentive Awards for a Plan Year must be
made on such form and pursuant to such procedures as the Committee may establish from time to time and shall be irrevocable for the Plan Year as of December 31 of the preceding year. The first Plan Year for which deferral elections may be made
is 2013. The election must be made prior to the start of the applicable Plan Year; provided, however, that an individual who (i) is not otherwise eligible to participate in a nonqualified deferred compensation plan that is
required to be aggregated with the Plan pursuant to Treasury Regulation section 1.409A-1(c)(2) and (ii) first becomes an Eligible Employee after the start of a Plan Year may, to the extent permitted by the Committee, make such deferral election
within 30 days after first becoming an Eligible Employee solely with regard to the portion of any Covered Incentive Awards for such Plan Year earned for services performed after such deferral election in accordance with the requirements of
Section 409A of the Code. An election to defer for a Plan Year shall continue in effect for each subsequent Plan Year unless revoked or modified by the Participant in accordance with procedures established by the Committee; provided,
however, that with respect to any Covered Incentive Awards for any subsequent Plan Year, the election to defer becomes irrevocable no later than December 31 of the Plan Year preceding the Plan Year for which the Covered Incentive Award
is earned. Notwithstanding any provision herein to the contrary, the Committee, in its discretion, may proportionately reduce the deferral rates for all Participants who have made deferral elections for a Plan Year, provided such reduction is made
no later than December 31 of the preceding Plan Year. 
 (b) Deferral Elections: An Eligible Employee may elect to
defer up to 50% of the Eligible Employee’s Covered Incentive Awards for the Plan Year. 
 (c) Accounts: A
Participating Employer shall establish and maintain on its books an Account for each Eligible Employee employed by such Participating Employer who elects to defer the receipt of any amount pursuant to this Section 3.2(c). Such Account shall be
designated by the name of the Eligible Employee 

  
 7 

 
for whom it is established. The amount to be deferred under this Section 3.2(c) for a given Plan Year shall be credited to a separate Payment Sub-Account within the Eligible Employee’s
Account, designated by the applicable Plan Year. Such credit to the Payment Sub-Account shall be made as of the date such amount would have otherwise been paid to the Participant but for the Participant’s deferral election. The amount credited
to each Payment Sub-Account shall be in the form of Stock Units, with the number of Stock Units (whole and fractional) equal to the applicable dollar amount that is being deferred divided by the Fair Market Value of a share of Common Stock on the
applicable deferral date. 
  

	 	3.3	Matching Awards of Restricted Share Units 

 (a) Matching Awards: If a Participant makes a deferral election for a Plan Year, the Company shall make a matching award of Restricted Share Units to the Participant under the Stock Plan with the
following terms, subject to the prior approval of the Committee: 
  

	 	(i)	The grant date shall be the applicable deferral date on which Stock Units are determined and credited to the Participant’s Payment Sub-Account, or such later date
as determined by the Committee; 

  

	 	(ii)	The number of Restricted Share Units awarded shall equal the number of whole Stock Units credited to the Participant’s applicable Payment Sub-Account as of the
applicable deferral date, divided by four, and rounded up to the next whole share; provided, however, that the Committee may, in its discretion, determine to proportionately reduce the number of Restricted Share Units being awarded to
all Participants receiving such awards as of a given grant date or to make no such awards at all; 

  

	 	(iii)	The Restricted Share Units shall become earned and vested on the third anniversary of the grant date; 

 

	 	(iv)	 Any unvested Restricted Share Units shall be canceled and forfeited if the Participant has a Separation from Service prior to the applicable vesting
date; provided, however, that the Restricted Share Units shall become immediately vested in the event of the Participant’s Separation from Service as a result of: (i) the Participant’s death or (ii) the
Participant’s becoming totally disabled under the Company’s Long-Term Disability Plan, and provided further that in the event of the Participant’s Separation from Service as a result of the Participant’s retirement under the
Company’s Salaried Pension Plan (or a similar pension plan maintained by a subsidiary that is the Participant’s employer) the Restricted Share Units shall become immediately vested upon such retirement in the following amounts: one-third
of the Restricted Share Units will become vested if the Participant’s retirement 

  
 8 

	 	
occurs on or after the first anniversary of the grant date but before the second anniversary of the grant date, and two-thirds of the Restricted Share Units will become vested if the
Participant’s retirement occurs on or after the second anniversary of the grant date but before the third anniversary of the grant date; 

  

	 	(v)	Any vested Restricted Share Units for a Participant shall be payable on the same date that the related Payment Sub-Account is payable to the Participant in accordance
with the provisions of Section 3.5. Payment of vested Restricted Share Units shall be made by delivery of one share of Common Stock for each vested Restricted Share Unit being paid, plus a cash payment equal to the aggregate amount of cash
dividends paid with respect to one share of Common Stock for each vested Restricted Share Unit being paid from the grant date to and including the applicable payment date. 

(b) Award Agreements Control: Each Restricted Share Unit award under this Section 3.3 shall be made in accordance with the
terms of the Stock Plan and shall be evidenced by an award agreement, which in all events shall be the governing instrument for such award, and in that regard, in case of any conflict between the terms of this Plan and the award agreement, the award
agreement shall control. 
  

	 	3.4	Account Adjustments 

 Each
Payment Sub-Account shall be credited with additional whole or fractional Stock Units for cash dividends paid on the Common Stock based on the number of Stock Units in the Payment Sub-Account on the applicable dividend record date and calculated
based on the Fair Market Value of the Common Stock on the applicable dividend payment date. Each Payment Sub-Account shall also be equitably adjusted as determined by the Committee in the event of any stock dividend, stock split or similar change in
the capitalization of the Company. 
  

	 	3.5	Account Payments 

 (a)
Payment Options: A Participant for a Plan Year shall elect from among the available payment options set forth in this Section 3.5(a) that shall apply to the Payment Sub-Account for such Plan Year. A separate payment election shall be made
with respect to each Payment Sub-Account. The payment election shall be made coincident with the deferral elections under Section 3.2 for such Plan Year: 
  

	 	(i)	Lump Sum Payment Following Separation from Service. The Participant’s Payment Sub-Account shall be payable following the Participant’s Separation from
Service in a single cash payment. Payment shall be made as soon as administratively practicable, but in no event more than 75 days, after Separation from Service. 

  
 9 

	 	(ii)	Lump Sum Payment in Specified Year. The Participant’s Account shall be payable at the earlier of (A) the calendar year elected by the Participant, to
be no earlier than the fifth calendar year following the calendar year in which the Covered Incentive Award being deferred is otherwise payable (e.g., for a Covered Incentive Award earned for services in 2013 and payable in early 2014, the earliest
calendar year for payment that could be elected would be 2019), or (B) the Participant’s Separation from Service, in either case in a single cash payment. Payment shall be made as soon as administratively practicable, but in no event more
than 75 days, after the earlier of the first business day of the applicable calendar year or Separation from Service, as applicable. 

 Any election made under this Section 3.5(a) shall be made on such form, at such time and pursuant to such procedures as determined by the Committee in its sole discretion from time to time, provided
that such election must become irrevocable no later than the date the related deferral election becomes irrevocable under Section 3.2. For a Participant who does not yet have an election in effect under this Section 3.5(a) or for a
Participant who fails to elect a payment option under this Section 3.5(a), the method of payment shall be a lump sum payment following Separation from Service under Section 3.5(a)(i). 

(b) Amount of Payment: The amount of the single cash payment of a Participant’s Payment Sub-Account per the applicable
payment method elected under Section 3.5(a) shall be determined as of a business day preceding payment under administrative procedures established by the Company equal to the aggregate Fair Market Value of the Stock Units then payable
determined as of such business day. 
 (c) Subsequent Changes to Payment Elections: A Participant who previously elected
payment of a Payment Sub-Account under Section 3.5(a)(ii) (i.e., Lump Sum Payment in a Specified Year) may change the specified year of payment with respect to such Payment Sub-Account only if (i) such election is made at least 12 months
before the first day of the applicable calendar year of payment previously elected by the Participant (e.g., if the applicable calendar year of payment previously elected by the Participant is 2019, the election under this Section 3.5(c) must
be made by no later than December 31, 2017) and (ii) the new calendar year elected is at least 5 years after the applicable calendar year of payment previously elected by the Participant (e.g., if the applicable calendar year of payment
previously elected by the Participant is 2019, the new calendar of payment elected under this Section 3.5(c) must be no earlier than 2024). The Payment Sub-Account shall continue to be subject to the requirement under Section 3.5(a)(ii)
that it be paid upon an earlier Separation from Service. 
 (d) Special Provisions for “Specified Employees”:
Notwithstanding any provision herein to the contrary, to the extent applicable, in no event shall any payment hereunder payable on account of a Separation from Service be made to a “specified employee” within the meaning of
Section 409A of the Code and the 

  
 10 

 
Company’s administrative policies, if any, earlier than six months after the date of the Participant’s Separation from Service, except in connection with the Participant’s death.
In the event such delayed payment is required, the amount of the payment shall be based on the aggregate Fair Market Value of the Stock Units then payable determined as of a business day preceding the delayed payment date under administrative
procedures established by the Company. 
 (e) Death: Notwithstanding any provision herein to the contrary, if a
Participant dies before having been paid the entire balance of the Participant’s Account, the remaining unpaid balance of the Account shall be payable to the Participant’s Beneficiary in a single cash payment as soon as administratively
practicable, but in no event more than 75 days, after the date of death. The amount payable to the Beneficiary shall equal the aggregate Fair Market Value of the Stock Units then payable determined as of a business day preceding the payment date
under administrative procedures established by the Company. 
 (f) Other Payment Provisions: Any deferral or payment
hereunder shall be subject to applicable payroll and withholding taxes. In the event any amount becomes payable under the provisions of the Plan to a Participant, Beneficiary or other person who is a minor or an incompetent, whether or not declared
incompetent by a court, such amount may be paid directly to the minor or incompetent person or to such person’s fiduciary (or attorney-in-fact in the case of an incompetent) as the Committee, in its sole discretion, may decide, and the
Committee shall not be liable to any person for any such decision or any payment pursuant thereto. 
  

	 	3.6	Withdrawals on Account of an Unforeseeable Emergency 

 A Participant who is in active service of a Participating Employer may, in the Committee’s sole discretion, receive a refund of all or any part of the amounts previously credited to the
Participant’s Account in the case of an “unforeseeable emergency.” A Participant requesting a payment pursuant to this Section 3.6 shall have the burden of proof of establishing, to the Committee’s satisfaction, the
existence of such “unforeseeable emergency,” and the amount of the payment needed to satisfy the same. In that regard, the Participant shall provide the Committee with such financial data and information as the Committee may request. If
the Committee determines that a payment should be made to a Participant under this Section 3.6 such payment shall be made within a reasonable time after the Committee’s determination of the existence of such “unforeseeable
emergency” and the amount of payment so needed. The Committee may in its discretion establish the order in which amounts shall be withdrawn under this Section 3.6 from a Participant’s Payment Sub-Accounts. As used herein, the term
“unforeseeable emergency” means a severe financial hardship to a Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent of the Participant (as defined in Code Section 152, without
regard to Sections 152(b)(1), (b)(2), and (d)(1)(B)), or 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. The
circumstances that shall constitute an 

  
 11 

 
“unforeseeable emergency” shall depend upon the facts of each case, but, in any case, payment may not be made to the extent that such hardship is or may be relieved (i) through
reimbursement or compensation by insurance or otherwise, or (ii) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship. Examples of what are not considered
to be “unforeseeable emergencies” include, without limitation, the need to send a Participant’s child to college or the purchase of a home. Withdrawals of amounts because of an “unforeseeable emergency” shall not exceed an
amount reasonably needed to satisfy the emergency need. 

  
 12 

 ARTICLE IV 
 AMENDMENT AND TERMINATION 
  

	 	4.1	Amendment or Termination of Plan 

 The Participating Employers reserve the right at any time, by action of the Committee, to amend in whole or in part any or all of the provisions of the Plan or to terminate the Plan; provided,
however, that no amendment or termination may reduce the amount actually credited to a Participant’s Account on the date of the amendment or termination, or further defer the due dates for the payment of the amounts, without the consent
of the affected Participant. Notwithstanding any provision of the Plan to the contrary but only to the extent permitted by Section 409A of the Code, in connection with any termination of the Plan the Committee shall have the authority to cause
the Accounts of all Participants (and Beneficiaries of any deceased Participants) to be paid in a single cash payment as of a date determined by the Committee or to otherwise accelerate the payment of all Accounts in such manner as the Committee
determines in its discretion. 

  
 13 

 ARTICLE V 
 MISCELLANEOUS PROVISIONS 
  

	 	5.1	Nature of Plan and Rights 

The Plan is unfunded and intended to constitute an incentive and deferred compensation plan for a select group of officers and key
management employees of the Participating Employers. If necessary to preserve the above intended plan status, the Committee, in its sole discretion, reserves the right to limit or reduce the number of actual Participants and otherwise to take any
remedial or curative action that the Committee deems necessary or advisable. The Accounts established and maintained under the Plan by a Participating Employer are for accounting purposes only and shall not be deemed or construed to create a trust
fund of any kind or to grant a property interest of any kind to any Participant, designated beneficiary or estate. The amounts credited by a Participating Employer to such Accounts are and for all purposes shall continue to be a part of the general
assets of such Participating Employer, and to the extent that a Participant or Beneficiary acquires a right to receive payments from such Participating Employer pursuant to the Plan, such right shall be no greater than the right of any unsecured
general creditor of such Participating Employer. 
  

	 	5.2	Change in Control Set Aside 

 To the extent that the Committee determines in its good faith that it will not result in income inclusion under Section 409A(b) of the Code, upon or following the occurrence of a Potential Change in
Control, if so directed by the Board in its sole and exclusive discretion, the Company shall set aside in a grantor trust, either existing or to be established, such amount as may be determined by the Board not to exceed the projected benefit
obligations under the Plan as of the anticipated date of the possible Change in Control, less any amounts previously set aside in a grantor trust to provide benefits under the Plan. 

If a Change in Control does not occur within a reasonable time from the date such funds are set aside, the funds, adjusted for any gains
or losses, shall revert to the Company. 
  

	 	5.3	Spendthrift Provision 

 No
Account balance or other right or interest under the Plan of a Participant or Beneficiary may be assigned, transferred or alienated, in whole or in part, by the Participant or Beneficiary, either directly or by operation of law, and no such balance,
right or interest shall be liable for or subject to any debt, obligation or liability of the Participant or Beneficiary. 
  

	 	5.4	Successors 

 The Plan
shall be binding on each Participating Employer and their respective successors and assigns. 

  
 14 

	 	5.5	Employment Noncontractual 

The establishment of the Plan shall not enlarge or otherwise affect the terms of any Employee’s employment with his or her
Participating Employer, and such Participating Employer may terminate the employment of the Employee as freely and with the same effect as if the Plan had not been established. 

 

	 	5.6	Applicable Law 

 The Plan
shall be governed and construed in accordance with the laws of the State of North Carolina, except to the extent such laws are preempted by the laws of the United States of America. 

 

	 	5.7	Compliance with Code Section 409A 

 The Plan is intended to comply with Section 409A of the Code. Notwithstanding any provision of the Plan to the contrary, the Plan shall be interpreted, operated and administered consistent with its
intent. Notwithstanding any provision of this Plan to the contrary, in the event that the Committee determines in good faith that any amounts payable under this Plan may not be either exempt from or compliant with Section 409A of the Code, the
Committee shall adopt such amendments to this Plan or adopt other policies or procedures (including amendments, policies and procedures with retroactive effective), or take any other commercially reasonable actions necessary or appropriate
(a) to preserve the intended tax treatment of the amounts payable hereunder, to preserve the economic benefits of such amounts, and/or to avoid less favorable accounting or tax consequences for the Participating Employers and/or (b) to
exempt the amounts payable hereunder from Section 409A of the Code or to comply with the requirements of Section 409A of the Code and thereby avoid the application of penalty taxes thereunder; provided, however, that this
Section 5.7 does not, and shall not be construed so as to, create any obligation on the part of any Participating Employer to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify any Participant
for any failure to do so. 
  

	 	5.8	Employees Based Outside the United Stated 

 Notwithstanding any provision of the Plan to the contrary, in order to foster and promote achievement of the purposes of the Plan or to comply with the provisions of laws in other countries in which the
Participating Employers operate or have Employees, the Committee, in its sole discretion, shall have the power and authority to: (i) modify the terms and conditions of participation in the Plan for any Eligible Employees who are employed
outside the United States, and (ii) establish sub-plans, modified deferral or payment procedures and other terms and procedures to the extent such actions may be necessary or advisable in such foreign jurisdictions. 

 

	 	5.9	Claims Procedures 

 Claims
for benefits under the Plan shall be addressed pursuant to the claims procedures applicable under the Company’s tax-qualified 401(k) plan. Any decision pursuant to such claims procedures shall be final and conclusive upon all persons interested
therein, except to the extent otherwise provided by applicable law. 
 [Signature on next page] 

  
 15 

 IN WITNESS WHEREOF, this instrument has been executed by the Company on October 29,
2012. 
  

					
	ENPRO INDUSTRIES, INC.
		
	By:	 	 /s/ Robert P. McKinney

		 	Name:	 	 Robert P. McKinney

		 	Title:	 	 Vice President, Human Resources

  
 16 

 ENPRO INDUSTRIES, INC.
MANAGEMENT STOCK PURCHASE DEFERRAL PLAN 

Exhibit A 

Participating Employers 
 (As of the Effective Date) 
  

	
	 Participating Employers

	1. EnPro Industries, Inc. (Effective Date)
	2.
	3.
	4.
	5.
	6.

  
 17Form of EnPro Industries, Inc. Restricted Share Units Award Agreement

 Exhibit 10.2 
 ENPRO INDUSTRIES, INC. 
 AMENDED AND RESTATED 2002 EQUITY COMPENSATION
PLAN 
 RESTRICTED SHARE UNITS AWARD AGREEMENT 
 FOR 
 MANAGEMENT STOCK PURCHASE DEFERRAL PLAN 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. 
  

					
	 GRANTED TO
	 	 GRANT DATE
	 	 NUMBER OF UNITS

	[                    ]	 	[                    ]	 	[            ]

 This Restricted Share Units Award Agreement, including all Exhibits hereto (the “Agreement”), is made between
EnPro Industries, Inc., a North Carolina corporation (the “Company”), and you, an employee of the Company or one of its subsidiaries. 

The Company sponsors the EnPro Industries, Inc. Amended and Restated 2002 Equity Compensation Plan (the “Plan”). A prospectus describing the
Plan is enclosed as Exhibit A. The Plan itself is available upon request, and its terms and provisions are incorporated herein by reference. When used herein, the terms which are defined in the Plan shall have the meanings given to them in the Plan,
as modified herein (if applicable). 
 In recognition of the value of your contribution to the Company, you and the Company mutually covenant
and agree as follows: 
  

	1.	Subject to the terms and conditions of the Plan and this Agreement, the Company awards to you the number of Restricted Share Units shown above (the “Units”),
upon the grant date shown above (the “Grant Date”), in connection with your participation in the EnPro Industries, Inc. Management Stock Purchase Deferral Plan. 

 

	2.	You acknowledge having read the Prospectus and agree to be bound by all the terms and conditions of the Plan and this Agreement. 

 

	3.	The Units are issued pursuant to this Agreement and shall vest and become payable on the date(s) shown on the enclosed Exhibit B. You shall not have the right to
sell or otherwise dispose of the Units or any interest therein. 

  

	4.	You shall have no right to vote any of the Units with respect to any matter presented for a vote of the holders of the Company’s Common Stock and, with respect to
the Units, you shall not be entitled to receive any dividends on the Company’s Common Stock when such dividends are paid. 

  

	5.	Upon the vesting of Units, with respect to each vested Unit you shall be entitled to receive from the Company, on a deferred basis, either, at the Company’s
election, (i) one share of Common Stock or (ii) a cash payment in amount equal to the fair market value (as defined in the Plan) of one share of Common Stock, to be paid upon the payment date to be determined in accordance with paragraph
(d) of the enclosed Exhibit B (the “Payment Date”), plus, in either case (i) or (ii), a cash payment equal to the aggregate amount of cash dividends paid with respect to one share of Common Stock from the Grant Date to and
including the Payment Date. 

  

	6.	You acknowledge and agree that upon your termination of employment with the Company and its subsidiaries prior to the Units becoming vested in accordance with paragraph
3 and Exhibit B of this Agreement or otherwise in accordance with the Plan, your right to receive payment on any such unvested Units shall automatically, without further act, terminate. 

 

	7.	 You agree that you shall comply with (or provide adequate assurance as to future compliance with) all applicable securities laws and income tax laws as
determined by the Company as a condition precedent to the payment of any amount pursuant to this Agreement. In addition, you agree that, upon request, you will furnish a letter agreement providing that (i) you will not distribute or resell in
violation of the Securities Act of 1933, as 

	 	
amended, any of shares of the Company’s Common Stock delivered in payment of the Units (ii) you will indemnify and hold the Company harmless against all liability for any such violation
and (iii) you will accept all liability for any such violation. 

  

	8.	By executing and returning the Beneficiary Designation Form attached as Exhibit C, you may designate a beneficiary to receive any payment to be made hereunder in the
event of your death while in service with the Company. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate. 

 

	9.	The existence of this award shall not affect in any way the right or power of the Company to make or authorize any or all adjustments, recapitalizations,
reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stocks ahead of or convertible into, or
otherwise affecting the Company’s Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a
similar character or otherwise. 

  

	10.	Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax,
by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as the Company may notify you from time to time; and to you at your electronic mail or
postal address as shown on the records of the Company from time to time, or at such other electronic mail or postal address as you, by notice to the Company, may designate in writing from time to time. 

 

	11.	Regardless of any action the Company or your employer takes with respect to any or all income tax, payroll tax or other tax-related withholding (“Tax-Related
Items”), you acknowledge that the ultimate liability for all Tax-Related Items owed by you is and remains your responsibility and that the Company and/or your employer (i) make no representations or undertakings regarding the treatment of
any Tax-Related Items in connection with any aspect of this award, including the grant, vesting and payment of the Units and the subsequent sale of any shares of Common Stock delivered in payment of any Units; and (ii) do not commit to
structure the terms of the grant or any aspect of the Units to reduce or eliminate your liability for Tax-Related Items. 

 In the event the Company determines that it and/or your employer must withhold any Tax-Related Items as a result of your participation in the Plan, you agree as a condition of the grant of the Units to
make arrangements satisfactory to the Company and/or your employer to enable it to satisfy all withholding requirements, including, but not limited to, withholding any applicable Tax-Related Items from the vesting and payment of the Units. In
addition, you authorize the Company and/or your employer to fulfill its withholding obligations by all legal means, including, but not limited to: withholding Tax-Related Items from your wages, salary or other cash compensation your employer pays to
you; withholding Tax-Related Items from the cash proceeds, if any, received upon sale of any shares of Common Stock received in payment of Units; and at the time of vesting or payment, withholding shares of Common Stock or the cash payment to be
delivered in payment of the Units sufficient to meet minimum withholding obligations for Tax-Related Items. The Company may refuse to deliver shares of Common Stock, or the cash payment, upon vesting of the Units if you fail to comply with any
withholding obligation. 
  

	12.	In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the
Agreement, and the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and the Company regarding the Units. Any prior agreements,
commitments or negotiations concerning the Units are superseded. Subject to the terms of the Plan, this Agreement may only be amended by a written instrument signed by both parties. 

	13.	The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of North Carolina and the laws of the United States, as
provided in the Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of
North Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be
performed, and no other courts. 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and you have hereunto set your hand, all effective as of the Grant Date listed above. 
  

							
	ENPRO INDUSTRIES, INC.	 		 	EMPLOYEE
				
	By:	 	  
	 		 	  

	Its:	 	  
	 		 	[                    ]

 EXHIBIT A 
 [current Plan prospectus] 

  
 A-4

 EXHIBIT B 
 ENPRO INDUSTRIES, INC. 
 AMENDED AND RESTATED 2002 EQUITY COMPENSATION
PLAN 
 RESTRICTED SHARE UNITS AWARD AGREEMENT 
 FOR 
 MANAGEMENT STOCK PURCHASE DEFERRAL PLAN 

Vesting of Shares 
 (a)
Vesting Schedule. Subject to the provisions of paragraph (b) below, the Units shall become vested as follows if you remain employed with the Company and its subsidiaries through the dates specified: the Units will vest on the third
anniversary of the Grant Date (the “Vesting Date”). 
 (b) Termination of Employment Prior To Vesting. If your employment with
the Company and its subsidiaries terminates prior to the Vesting Date of Units, then such Units shall be forfeited; provided, however, that the Units shall become immediately vested in the event of termination of your employment as a
result of: (i) your death or (ii) your becoming totally disabled under the Company’s Long-Term Disability Plan, and provided, further that in the event of termination of your employment as a result of your retirement under the
Company’s Salaried Pension Plan (or a similar pension plan maintained by a subsidiary that is your employer) the Units shall become immediately vested upon such retirement in the following amounts: one-third of the Units will become vested if
your retirement occurs on or after the first anniversary of the Grant Date but before the second anniversary of the Grant Date, and two-thirds of the Units will become vested if your retirement occurs on or after the second anniversary of the Grant
Date but before the third anniversary of the Grant Date. 
 (c) Vesting Pursuant to the Plan. Notwithstanding anything herein to the
contrary, this award shall become vested upon a Change in Control (as defined in the Plan). 
 (d) Payment of Vested Units. Vested Units
are payable on a deferred basis at the same time that your “Payment Sub-Account” for the 20     “Plan Year” under the EnPro Industries, Inc. Management Stock Purchase Deferral Plan is payable, based on your
prior election under such plan. 

  
 B-1

 EXHIBIT C 
 ENPRO INDUSTRIES, INC. 
 AMENDED AND RESTATED 2002 EQUITY COMPENSATION
PLAN 
 RESTRICTED SHARE UNITS AWARD AGREEMENT 
 FOR 
 MANAGEMENT STOCK PURCHASE DEFERRAL PLAN 

Beneficiary Designation Form 
 Please complete this form only if you haven’t already designated a beneficiary for your Units granted under the Plan or if you wish to change your current beneficiary designation. Completed forms
should be returned to Julie Lentz at 5605 Carnegie Blvd., Suite 500, Charlotte, NC 28209 or julie.lentz@enproindustries.com. 
  

			
	 GRANT DATE
	 	 NUMBER OF UNITS

	[                    ]	 	[            ]

 With respect to the above described award of Units under the EnPro Industries, Inc. Amended and Restated 2002 Equity
Compensation Plan (the “Plan”), I hereby designate the following person or entity as my beneficiary with respect to any delivery of payment with respect to the Units in the event of my death. 

If my beneficiary named below predeceases me, any such payment will be made to my estate. 

 

					
	 Name and Address

of Beneficiary
	 	 Social Security #
	 	 Relationship

to Participant

			
	  
	 	  
	 	  

			
	  
	 		 	
			
	  
	 		 	

 I understand that I may change this designation at any time by executing a new form and delivering it to the Human
Resources Department. This designation supersedes any prior beneficiary designation made by me under the Plan with respect to the Units. 
  

									
		 		 		 	  

		 		 		 	Employee’s Name (Please print)
				
	Witness:	 	  
	 		 	  

		 		 		 	Signature of Employee
					
		 		 		 	Date:	 	  

	
	Received by the Human Resources Department this      day of             ,
        .
					
		 		 		 	By:	 	  

  
 C-1

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