Common use of Separation Payment and Other Benefits Clause in Contracts

Separation Payment and Other Benefits. Provided Employee does not exercise her right of rescission under Section 8, the Company shall pay Employee the sum of $1,700,000.00, less applicable withholdings (the “Separation Payment”). The Separation Payment shall be paid as follows: (a) a first installment of $850,000.00, less withholdings, to be paid within twenty (20) days following Employee’s signature and delivery of this Agreement to the Company, and (b) a conditional second installment of $850,000.00, less withholdings, payable within twelve (12) months following the Separation Date provided Employee has remained in strict compliance with her obligations under this Agreement. Employee will be paid her accrued and unused vacation balance (equivalent to four (4) weeks, less applicable withholdings) following the Separation Date with or without this Agreement. Further, provided Employee does not exercise her right of rescission under Section 8, the Company will pay to Employee an additional lump sum of $37,320.00 less applicable withholdings (the “COBRA Subsidy”), which Employee may use toward the cost of future health insurance premiums or for other purposes. The COBRA Subsidy will be paid to Employee at the same time the first installment of the Separation Payment is made. As a participant in the Pentair Management Incentive Plan (“MIP”), Employee will receive a MIP bonus award for the 2017 year, subject to the terms and conditions of the MIP, with any payment earned under the MIP for the 2017 year payable in March 2018 at the same time other eligible participants in the MIP receive earned payments attributable to the 2017 year. Such MIP bonus amount will be calculated using Employee’s base salary in effect as of the Separation Date in accordance with the terms and conditions of the MIP. Further, provided Employee does not exercise her right of rescission under Section 8, then when the Company performs the 2017 year-end calculation in order to calculate the amount of the bonus payment for the 2017 year under the MIP, the SDF metric under the MIP shall be set at 100% of target. Employee shall not be eligible for any payment under the MIP for the 2018 year. Employee understands and agrees that, except as provided above and in Section 10 below, she has no rights to or claims under any other bonus or incentive compensation plans of any type, including, but not limited to, the Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the Flexible Perquisite Plan, the Pentair plc Employee Stock Purchase and Bonus Plan, the Pentair, Inc. Supplemental Executive Retirement Plan (together with its predecessors, the “SERP”), the Pentair Inc. Deferred Compensation plan (referred to as the “Sidekick Plan”), the Pentair, Inc. Retirement Savings and Stock Incentive Plan (the “401(k) Plan”), or any successor plans thereto, or any plans of employers acquired by the Company with respect to options, restricted stock, restricted stock units or performance units. The Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, or any successor plans thereto, and any other plans of employers acquired by the Company under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units, are in the aggregate called the “Pentair Equity Plans” and the document(s) establishing the terms and conditions of the grants under the Pentair Equity Plans are called the “Terms & Conditions” in this Agreement. Provided Employee does not exercise her right of rescission under Section 8, the Company agrees that Employee’s options, restricted stock, restricted stock units or performance units under the Pentair Equity Plans, if any, will be treated in accordance with Section 10 of this Agreement.

Separation Payment and Other Benefits. Provided Employee does not exercise her his right of rescission under Section 8, the Company shall pay Employee (a) the sum of Seven Hundred and Eighty Three Thousand Six Hundred Fifty and No/100 Dollars ($1,700,000.00783,650.00), less applicable withholdings (the “Initial Separation Payment”). The Separation Payment shall be paid as follows: , within thirty (a) a first installment of $850,000.00, less withholdings, to be paid within twenty (2030) days following Employee’s signature execution and delivery of this Agreement to the Company, and (b) a conditional second installment of $850,000.00, less withholdings, payable within twelve (12) months following the Separation Date provided Employee has remained in strict compliance with her obligations under this Agreement. Employee will the provisions of Section 11 at all times through January 1, 2016, an additional sum of Nine Hundred and Fifty Nine Thousand Eight Hundred Eighty Three and No/100 Dollars ($959,883.00), less applicable withholdings, shall be paid her to Employee during January of 2016 (the "Second Separation Payment"). The parties acknowledge that the Initial Separation Payment shall be inclusive of Employee's accrued and unused vacation balance remaining as of the Separation Date (equivalent to four (4) weeksas defined in Section 5 below), less applicable withholdings) following the Separation Date with or without this Agreement. Further, provided Employee expressly understands and agrees that he is not entitled to any other payments for any accrued and/or unused vacation. Provided Employee does not exercise her his right of rescission under Section 8, the Company will shall pay to Employee an additional lump sum of Thirty Two Thousand Four Hundred Twenty Nine and No/100 Dollars ($37,320.00 32,429.00), less applicable withholdings (the “COBRA Subsidy”), which Employee may use toward the cost of future health health/dental insurance premiums or for other purposes. The COBRA Subsidy will be paid to Employee at with the same time the first installment of the Initial Separation Payment is madePayment. As The parties acknowledge that because Employee was employed through December 31, 2014, Employee remains eligible for a participant in payment under the Pentair Management Incentive Plan (“MIP”), Employee will receive a MIP bonus award ) for the 2017 2014 year, subject to which the terms and conditions of the MIP, with any payment earned under the MIP for the 2017 year payable Company shall pay in March 2018 2015 at the same time other eligible participants in the receive their MIP receive earned payments attributable to the 2017 year. Such MIP bonus amount will be calculated using Employee’s base salary in effect as of the Separation Date in accordance with the terms and conditions of the MIP. Further, provided Employee does not exercise her right of rescission under Section 8, then when the Company performs the 2017 year-end calculation in order to calculate the amount of the bonus payment for the 2017 year under the MIP, the SDF metric under the MIP shall be set at 100% of targetpayments. Employee shall not be eligible for any payment under the MIP for the 2018 2015 year. Employee understands and agrees that, except as provided above that the amounts described in this Section 1 and the awards described in Section 10 below, she has no provide all the rights and benefits available to or claims Employee under any other bonus or incentive compensation plans of any typetype maintained by the Company, including, but not limited to, the Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the Flexible Perquisite Plan, the Pentair plc Ltd. Employee Stock Purchase and Bonus Plan, the Pentair, Inc. 1999 Supplemental Executive Retirement Plan (together with its predecessors, the “SERP”), the Pentair Inc. Deferred Compensation plan (referred to as the “Sidekick Plan”), the Pentair, Inc. Retirement Savings and Stock Incentive Plan (the “401(k) Restoration Plan”), or any successor plans thereto, or any plans of employers acquired by the Company with respect to under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units; and that he holds no other stock options or rights to grants of future stock options. The Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the 1999 Supplemental Executive Retirement Plan, the Pentair, Inc. Restoration Plan, or any successor plans thereto, and any other plans of employers acquired by the Company under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units, units are in the aggregate called the “Pentair Equity Plans” and the document(s) documents establishing the terms and conditions of the grants under the Pentair Equity Plans are called the “Terms & Conditions” in this Agreement. Provided Employee does not exercise her his right of rescission under Section 8, the Company agrees that Employee’s 's options, restricted stock, restricted stock units or performance units under the Pentair Equity Plans, if any, will be treated in accordance with Section 10 of this Agreement.

Separation Payment and Other Benefits. Provided Employee becomes eligible to sign, signs and does not exercise rescind the post-employment release of claims in the form attached hereto as Exhibit A (the “Release”) after her right employment with the Company has ended and subject to the conditions of rescission under Section 8this Agreement, the Company shall pay Employee the sum of $1,700,000.001,934,000.00, less applicable withholdings (the “Separation Payment”). The Separation Payment shall be paid as follows: (a) a first installment of $850,000.00688,900.00, less withholdings, to be paid within twenty (20) days following Employee’s signature and delivery of this Agreement the signed Release to the CompanyCompany following the Separation Date, and (b) a conditional second installment of $850,000.001,245,100, less withholdings, payable within twelve (12) months following the Separation Date provided Employee has remained in strict compliance with her obligations under this Agreement. In order to become eligible to sign the Release and subject to Section 3 below, Employee must remain an employee in good standing throughout the entire Transition Period. Employee will be paid her accrued and unused vacation balance (equivalent to four (4) weeks, less applicable withholdings) following the Separation Date with or without this Agreement. Further, provided Employee does not exercise her right of rescission under Section 8, the Company will pay to Employee an additional lump sum of $37,320.00 23,246.00 less applicable withholdings (the “COBRA Subsidy”), which Employee may use toward the cost of future health insurance premiums or for other purposes. The COBRA Subsidy will be paid to Employee at the same time the first installment of the Separation Payment is made. As a participant in the Pentair Management Incentive Plan (“MIP”), Employee will receive a MIP bonus award for the 2017 year, subject to the terms and conditions of the MIP, with any payment earned under the MIP for the 2017 year payable in by March 15, 2018 at the same time other eligible participants in the MIP receive earned payments attributable to the 2017 year. Such MIP bonus amount will be calculated using Employee’s base salary in effect as of the Separation Date in accordance with the terms and conditions of the MIP. Further, provided Employee does not exercise her right of rescission under Section 8, then when the Company performs the 2017 year-end calculation in order to calculate the amount of the bonus payment for the 2017 year under the MIP, the SDF metric under the MIP shall be set at 100% of target. Employee shall not be will remain eligible for any payment under the to receive a prorated MIP bonus award for the 2018 year, subject to the terms and 15045978.1 conditions of the MIP, for the 2018 year payable by March 15, 2019 at the same time other eligible participants in the MIP receive earned payments attributable to the 2018 year. Further, provided Employee does not exercise her right of rescission under Section 8, then when the Company performs the 2018 year-end calculation in order to calculate the amount of the prorated bonus payment for the 2018 year under the MIP, the SDF metric under the MIP shall be set at 100% of target. Employee understands and agrees that, except as provided above and in Section 10 below, she has no rights to or claims under any other bonus or incentive compensation plans of any type, including, but not limited to, the Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the Flexible Perquisite Plan, the Pentair plc Employee Stock Purchase and Bonus Plan, the Pentair, Inc. Supplemental Executive Retirement Plan (together with its predecessors, the "SERP"), the Pentair, Inc. Pension Plan (the “SERPPension Plan”), the Pentair Inc. Deferred Compensation plan (referred to as the “Sidekick Plan”), the Pentair, Inc. Retirement Savings and Stock Incentive Plan (the “401(k) Plan”), or any successor plans thereto, or any plans of employers acquired by the Company with respect to options, restricted stock, restricted stock units or performance units. The Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, or any successor plans thereto, and any other plans of employers acquired by the Company under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units, are in the aggregate called the “Pentair Equity Plans” and the document(s) establishing the terms and conditions of the grants under the Pentair Equity Plans are called the “Terms & Conditions” in this Agreement. Provided Employee does not exercise her right of rescission under Section 8, the Company agrees that Employee’s 's options, restricted stock, restricted stock units or performance units under the Pentair Equity Plans, if any, will be treated in accordance with Section 10 of this Agreement.

Separation Payment and Other Benefits. Provided Employee has strictly complied with his obligations under Section 5 during the Transition Period (as hereinafter defined), and further provided that Employee does not exercise her his right of rescission under Section 8, and further provided that Employee signs and delivers to the Company the Post-Employment Release of Claims in the form attached hereto as Exhibit A (the “Release”) no later than twenty-one (21) days following the Separation Date (as hereinafter defined) and has not rescinded the Release as provided therein, the Company shall pay Employee the sum of $1,700,000.002,358,290.00, less applicable withholdings (the “Separation Payment”). The Separation Payment shall be paid in two installments as follows: (a) a the first installment of $850,000.001,169,145.00, less withholdings, to be paid within twenty (20) days following Employee’s signature and delivery of this Agreement the Release to the Company, and (b) a conditional second installment of $850,000.00, less withholdings, payable within twelve (12) months following the Separation Date provided Employee has remained in strict full compliance with her obligations under this Agreement. Employee will the provisions of Section 11 at all times through January, 2017, the second installment of $1,189,145.00, less withholdings, to be paid her to Employee on or about February 1, 2017. The parties acknowledge that the first installment of the Separation Payment shall be inclusive of Employee’s accrued and unused vacation balance (equivalent vacation. Employee expressly understands and agrees that he is not entitled to four (4) weeks, less applicable withholdings) following the Separation Date with or without this Agreementany other payments for any accrued and/or unused vacation. Further, provided Employee does not exercise her his right of rescission under Section 8, the Company will pay to Employee an additional lump sum of $37,320.00 42,950 less applicable withholdings (the “COBRA Subsidy”), which Employee may use toward the cost of future health insurance premiums or for other purposes. The COBRA Subsidy will be paid to Employee at the same time the first installment of the Separation Payment is made. As Employee will not receive a participant in bonus award for the 2015 year under the Pentair Management Incentive Plan (“MIP”), Employee will receive a MIP bonus award for the 2017 year, subject to the terms and conditions of the MIP, with any payment earned under the MIP for the 2017 year payable in March 2018 at the same time other eligible participants in the MIP receive earned payments attributable to the 2017 year. Such MIP bonus amount will be calculated using Employee’s base salary in effect as of the Separation Date in accordance with the terms and conditions of the MIP. Further, provided Employee does not exercise her right of rescission under Section 8, then when the Company performs the 2017 year-end calculation in order to calculate the amount of the bonus payment for the 2017 year under the MIP, the SDF metric under the MIP shall be set at 100% of target. Employee shall not be eligible for any payment under the MIP for the 2018 2016 year. The parties acknowledge that Employee will receive pay for his accrued and unused vacation remaining (if any) as of the Separation Date (as defined in Section 5) with or without this Agreement. Employee understands and agrees that, except as provided above and in Section 10 below, she he has no rights to or claims under any other bonus or incentive compensation plans of any type, including, but not limited to, the Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the Flexible Perquisite Plan, the Pentair plc Employee Stock Purchase and Bonus Plan, the Pentair, Inc. Supplemental Executive Retirement Plan (together with its predecessors, the “SERP”), the Pentair Inc. Restoration Plan (together with its predecessors, the “Restoration Plan”), the Pentair Inc. Deferred Compensation plan Plan (referred to as the “Sidekick Plan”), the Pentair, Inc. Retirement Savings and Stock Incentive Plan (the “401(k) Plan”), the Pentair, Inc. Pension Plan (the “Pension Plan”) or any successor plans thereto, or any plans of employers acquired by the Company with respect to options, restricted stock, restricted stock units or performance units. The Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, or any successor plans thereto, and any other plans of employers acquired employees required by the Company under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units, are in the aggregate called the “Pentair Equity Plans” and the document(s) establishing the terms and conditions of the grants under the Pentair Equity Plans are called the “Terms & Conditions” in this Agreement. Provided Employee does not exercise her his right of rescission under Section 8, the Company agrees that Employee’s options, restricted stock, restricted stock units or performance units under the Pentair Equity Plans, if any, will be treated in accordance with Section 10 of this Agreement. Provided Employee does not exercise his right of rescission under Section 8, the Company shall reimburse Employee up to a maximum amount of $15,000.00 for the actual fees and expenses of consultants and/or legal or accounting advisors (“Service Providers”) engaged by Employee to advise Employee as to matters relating to this Agreement (“Legal Fee Reimbursement”). Employee shall not personally pay for the fees and expenses of such Service Providers. Rather payment for the Legal Fee Reimbursement shall be made by the Company directly to Service Providers by the later of: (i) fourteen (14) days following the expiration of the rescission period under Section 8, or (ii) fourteen (14) days following Employee’s presentation to the Company of the invoices for the services rendered. Any fees or expenses that are not submitted to Company by Employee within six months of the Separation Date shall be ineligible for the Legal Fee Reimbursement, and Employee shall remain solely responsible to pay for such untimely submitted fees and expenses.

Separation Payment and Other Benefits. Provided The parties have agreed that Employee’s employment will end on the Separation Date. Employee does not exercise her right of rescission shall continue to receive his base salary and other benefits until the Separation Date. Further, provided Employee has strictly complied with his obligations under Section 85 below during the Transition Period and further provided that Employee signs and delivers to the Company the Post-Employment Release of Claims (“Release”) in the form attached hereto as Exhibit A no later than twenty-one (21) days following the Separation Date, then the Company shall pay Employee the sum of $1,700,000.001,820,870, less applicable withholdings (the “Separation Payment”). The Separation Payment shall be paid in two installments as follows: (a) a the first installment of $850,000.00153,956, less withholdings, to be paid within twenty (20) days following Employee’s signature and delivery of this Agreement the Release to the CompanyCompany following the Separation Date, and (b) a conditional the second installment of $850,000.001,666,914, less withholdings, payable within twelve on February 15, 2016. The parties acknowledge that the first installment of the Separation Payment shall be inclusive of Employee’s accrued and unused vacation. Employee expressly understands and agrees that he is not entitled to any other payments for any accrued and/or unused vacation. Provided Employee signs and delivers the Release to the Company no later than twenty-one (1221) months days following the Separation Date provided Employee has remained in strict compliance with her obligations under this Agreement. Employee will be paid her accrued and unused vacation balance (equivalent to four (4) weeksDate, less applicable withholdings) following the Separation Date with or without this Agreement. Further, provided Employee does not exercise her right of rescission under Section 8, then the Company will pay to Employee an additional lump sum of $37,320.00 34,316, less applicable withholdings (the “COBRA Subsidy”), which Employee may use toward the cost of future health insurance premiums or for other purposes. The COBRA Subsidy will be paid to Employee at the same time with the first installment of the Separation Payment is madePayment. As a participant in the Pentair Management Incentive Plan (“MIP”), Employee will receive a prorated MIP bonus award for the 2017 year, 2015 year on the regular payout date in 2016 subject to the terms and conditions of the MIP, with any payment earned under the MIP for the 2017 year payable in March 2018 at the same time other eligible participants in the MIP receive earned payments attributable to the 2017 year. Such MIP bonus amount will be calculated using Employee’s base salary in effect as of the Separation Date in accordance with the terms and conditions of the MIP. Further, provided Employee does not exercise her right of rescission under Section 8, then when the Company performs the 2017 year-end calculation in order to calculate the amount of the bonus payment for the 2017 year under the MIP, the SDF metric under the MIP shall be set at 100% of target. Employee shall not be eligible for any payment under the MIP for the 2018 year. Employee understands and agrees that, except as provided above that the amounts described in this Section 1 and the awards described in Section 10 below, she has no 9 below provide all the rights and benefits available to or claims Employee under any other bonus or incentive compensation plans of any typetype maintained by the Company, including, but not limited to, the Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the Flexible Perquisite Plan, the Pentair plc Ltd. Employee Stock Purchase and Bonus Plan, the Supplemental Executive Retirement Plan, the Pentair, Inc. Supplemental Executive Retirement Plan (together with its predecessorsRestoration Plan, the “SERP”)Pentair, the Pentair Inc. Non-Qualified Deferred Compensation plan Plan (referred to as the “Sidekick Plan”), the Pentair, Inc. Retirement Savings and Stock Incentive Plan (the “401(k) Plan”), or any successor plans thereto, or any plans of employers acquired by the Company with respect to under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units; and that he holds no other stock options or rights to grants of future stock options. The Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the Supplemental Executive Retirement Plan, the Pentair, Inc. Restoration Plan, the Pentair, Inc. Non-Qualified Deferred Compensation Plan (referred to as the Sidekick Plan), the Pentair, Inc. Retirement Savings and Stock Incentive Plan, or any successor plans thereto, and any other plans of employers acquired by the Company under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units, units are in the aggregate called the “Pentair Equity Plans” and the document(s) documents establishing the terms and conditions of the grants under the Pentair Equity Plans are called the “Terms & Conditions” in this Agreement. Provided Employee does not exercise her his right of rescission under Section 87, the Company agrees that Employee’s options, restricted stock, restricted stock units or performance units under the Pentair Equity Plans, if any, will be treated in accordance with Section 10 9 of this Agreement.

Separation Payment and Other Benefits. Provided Employee does not exercise her his right of rescission under Section 8, the Company shall pay Employee (a) the sum of Seven Hundred and Fifty Seven Thousand Nine Hundred Seventeen and No/100 Dollars ($1,700,000.00757,917.00), less applicable withholdings (the “Initial Separation Payment”). The Separation Payment shall be paid as follows: , within thirty (a) a first installment of $850,000.00, less withholdings, to be paid within twenty (2030) days following Employee’s signature execution and delivery of this the Agreement to the Company, and (b) a conditional second installment of $850,000.00, less withholdings, payable within twelve (12) months following the Separation Date provided Employee has remained in strict compliance with her obligations under this Agreement. Employee will the provisions of Section 11 at all times through January 1, 2016, an additional sum of One Million and Eighty Eight Thousand Nine Hundred Seventy Three and No/100 Dollars ($1,088,973), less applicable withholdings, shall be paid her to Employee during January of 2016 (the "Second Separation Payment"). The parties acknowledge that the Initial Separation Payment shall be inclusive of Employee's accrued and unused vacation balance remaining as of the Separation Date (equivalent to four (4) weeksas defined in Section 5 below), less applicable withholdings) following the Separation Date with or without this Agreement. Further, provided Employee expressly understands and agrees that he is not entitled to any other payments for any accrued and/or unused vacation. Provided Employee does not exercise her his right of rescission under Section 8, the Company will shall pay to Employee an additional lump sum of Thirty Three Thousand Six Hundred Seventy Seven and No/100 Dollars ($37,320.00 33,677), less applicable withholdings (the “COBRA Subsidy”), which Employee may use toward the cost of future health health/dental insurance premiums or for other purposes. The COBRA Subsidy will be paid to Employee at with the same time the first installment of the Initial Separation Payment is madePayment. As The parties acknowledge that because Employee was employed through December 31, 2014, Employee remains eligible for a participant in payment under the Pentair Management Incentive Plan (“MIP”), Employee will receive a MIP bonus award ) for the 2017 2014 year, subject to which the terms and conditions of the MIP, with any payment earned under the MIP for the 2017 year payable Company shall pay in March 2018 2015 at the same time other eligible participants in the receive their MIP receive earned payments attributable to the 2017 year. Such MIP bonus amount will be calculated using Employee’s base salary in effect as of the Separation Date in accordance with the terms and conditions of the MIP. Further, provided Employee does not exercise her right of rescission under Section 8, then when the Company performs the 2017 year-end calculation in order to calculate the amount of the bonus payment for the 2017 year under the MIP, the SDF metric under the MIP shall be set at 100% of targetpayments. Employee shall not be eligible for any payment under the MIP for the 2018 2015 year. Employee understands and agrees that, except as provided above that the amounts described in this Section 1 and the awards described in Section 10 below, she has no provide all the rights and benefits available to or claims Employee under any other bonus or incentive compensation plans of any typetype maintained by the Company, including, but not limited to, the Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the Flexible Perquisite Plan, the Pentair plc Ltd. Employee Stock Purchase and Bonus Plan, the Pentair, Inc. 1999 Supplemental Executive Retirement Plan (together with its predecessors, the “SERP”), the Pentair Inc. Deferred Compensation plan (referred to as the “Sidekick Plan”), the Pentair, Inc. Retirement Savings and Stock Incentive Plan (the “401(k) Restoration Plan”), or any successor plans thereto, or any plans of employers acquired by the Company with respect to under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units; and that he holds no other stock options or rights to grants of future stock options. The Pentair Management Incentive Plan, the Omnibus Stock Incentive Plan, the 2008 Omnibus Stock Incentive Plan, the 2012 Stock and Incentive Plan, the 1999 Supplemental Executive Retirement Plan, the Pentair, Inc. Restoration Plan, or any successor plans thereto, and any other plans of employers acquired by the Company under which Employee holds vested or unvested options, restricted stock, restricted stock units or performance units, units are in the aggregate called the “Pentair Equity Plans” and the document(s) documents establishing the terms and conditions of the grants under the Pentair Equity Plans are called the “Terms & Conditions” in this Agreement. Provided Employee does not exercise her his right of rescission under Section 8, the Company agrees that Employee’s 's options, restricted stock, restricted stock units or performance units under the Pentair Equity Plans, if any, will be treated in accordance with Section 10 of this Agreement. Provided Employee does not exercise his right of rescission under Section 8, the Company shall reimburse Employee a maximum amount of $15,000.00 for the fees and expenses of consultants and/or legal or accounting advisors ("Service Providers") engaged by Employee to advise Employee as to matters relating to this Agreement ("Legal Fee Reimbursement"). Employee shall not personally pay for the fees and expenses of such Service Providers. Payment for the Legal Fee Reimbursement shall be made by Company directly to Service Providers within fourteen (14) days of Employee providing Company with such invoices, or if later, within fourteen (14) days of the expiration of the rescission period under Section 8. Any fees or expenses that are not submitted to Company by Employee within 6 months of the Separation Date shall be ineligible for the Legal Fee Reimbursement and Employee shall remain solely responsible to pay for such untimely submitted fees and expenses.