Common use of Employer Securities Clause in Contracts

Employer Securities. Dover and Apergy each presently intend to preserve the right of Dover Participants and Apergy Participants to receive distributions in kind of employer securities from, respectively, the Dover 401(k) Plan and the Apergy 401(k) Plan, if, and to the extent, investments under such plans are comprised of Apergy Common Stock or Dover Common Stock, respectively; provided, that, Dover shall cause the Dover 401(k) Plan to provide that, no later than twelve (12) months following the Effective Time, the Dover 401(k) Plan shall hold no separate investment fund comprised of Apergy Common Stock and Apergy shall cause the Apergy 401(k) Plan to provide that, no later than twelve (12) months following the Effective Time, the Apergy 401(k) Plan shall not hold a separate investment fund comprised of Dover Common Stock. Each of Dover and Apergy shall authorize the appropriate plan fiduciary to determine, in its discretion, the extent to which and when Dover Common Stock (in the case of the Apergy 401(k) Plan) and Apergy Common Stock (in the case of the Dover 401(k) Plan) shall cease to be investment alternatives thereunder.

Employer Securities. Dover and Apergy Xxxxxxx each presently intend to preserve the right of Dover Participants and Apergy Xxxxxxx Participants to receive distributions in kind of employer securities from, respectively, the Dover 401(k) Plan and the Apergy Xxxxxxx 401(k) Plan, if, and to the extent, investments under such plans are comprised of Apergy Xxxxxxx Common Stock or Dover Common Stock, respectively; provided, that, Dover shall cause the Dover 401(k) Plan to provide that, no later than twelve eighteen (1218) months following the Effective TimeDistribution Date, the Dover 401(k) Plan shall hold no separate investment fund comprised of Apergy Xxxxxxx Common Stock and Apergy Xxxxxxx shall cause the Apergy Xxxxxxx 401(k) Plan to provide that, no later than twelve eighteen (1218) months following the Effective TimeDistribution Date, the Apergy Xxxxxxx 401(k) Plan shall not hold a separate investment fund comprised of Dover Common Stock. Each of Xxxxxxx and Dover and Apergy shall authorize the appropriate plan fiduciary to determine, in its discretion, the extent to which and when Dover Common Stock (in the case of the Apergy Xxxxxxx 401(k) Plan) and Apergy Xxxxxxx Common Stock (in the case of the Dover 401(k) Plan) shall cease to be investment alternatives thereunder.