Common use of TSR Adjustment Clause in Contracts

TSR Adjustment. The Financial Goals Percentage shall be adjusted based on relative Total Shareholder Return for the three-year period of 2021-2023 (the “TSR Adjustment”) as follows: A. If the Company’s Total Shareholder Return (“Company TSR”) is equal to or below the 35th percentile (“threshold”) of the Total Shareholder Return for the S&P 500 Industrial Index Companies (“S&P Industrials TSR”), then the Financial Goals Percentage will be multiplied by 80%. B. If the Company TSR is equal to the 55th percentile (“target”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 100%. C. If the Company TSR is equal to or exceeds the 80th percentile (“maximum”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 120%. If the Company TSR is between the threshold and target, or between the target and maximum, TSR Adjustment shall be determined by interpolation. However, in no event will the PSUs be adjusted to provide more than 175% of the PSUs Granted in total. All determinations regarding performance (both for the Financial Goals Percentage and TSR Adjustment) shall be made solely by the Committee in accordance with the customary accounting and financial reporting practices used by the Company for external reporting, and shall include adjustment for any recapitalization, split-up, spinoff, reorganization, restructuring or other similar corporate transaction as determined by the Committee to prevent dilution or enlargement of intended benefits.

TSR Adjustment. The Financial Goals Percentage shall be adjusted based on relative Total Shareholder Return for the three-year period of 20212023-2023 2025 (the “TSR Adjustment”) as follows: A. If the Company’s Total Shareholder Return (“Company TSR”) is equal to or below the 35th percentile (“threshold”) of the Total Shareholder Return for the S&P 500 Industrial Index Companies (“S&P Industrials TSR”), then the Financial Goals Percentage will be multiplied by 80%. B. If the Company TSR is equal to the 55th percentile (“target”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 100%. C. If the Company TSR is equal to or exceeds the 80th percentile (“maximum”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 120%. If the Company TSR is between the threshold and target, or between the target and maximum, TSR Adjustment shall be determined by interpolation. However, in no event will the PSUs be adjusted to provide more than 175% of the PSUs Granted in total. All determinations regarding performance (both for the Financial Goals Percentage and TSR Adjustment) shall be made solely by the Committee in accordance with the customary accounting and financial reporting practices used by the Company for external reporting, and shall include adjustment for any recapitalization, split-up, spinoff, reorganization, restructuring or other similar corporate transaction as determined by the Committee to prevent dilution or enlargement of intended benefits.

TSR Adjustment. The Financial Goals Percentage shall be adjusted based on relative Total Shareholder Return for the three-year period of 20212022-2023 2024 (the “TSR Adjustment”) as follows: A. If the Company’s Total Shareholder Return (“Company TSR”) is equal to or below the 35th percentile (“threshold”) of the Total Shareholder Return for the S&P 500 Industrial Index Companies (“S&P Industrials TSR”), then the Financial Goals Percentage will be multiplied by 80%. B. If the Company TSR is equal to the 55th percentile (“target”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 100%. C. If the Company TSR is equal to or exceeds the 80th percentile (“maximum”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 120%. If the Company TSR is between the threshold and target, or between the target and maximum, TSR Adjustment shall be determined by interpolation. However, in no event will the PSUs be adjusted to provide more than 175% of the PSUs Granted in total. All determinations regarding performance (both for the Financial Goals Percentage and TSR Adjustment) shall be made solely by the Committee in accordance with the customary accounting and financial reporting practices used by the Company for external reporting, and shall include adjustment for any recapitalization, split-up, spinoff, reorganization, restructuring or other similar corporate transaction as determined by the Committee to prevent dilution or enlargement of intended benefits.

TSR Adjustment. The Financial Goals Percentage shall be adjusted based on relative Total Shareholder Return for the three-year period of 2021-2023 May 1, 2024 through December 31, 2026 (the “TSR Adjustment”) as follows: A. If the Company’s Total Shareholder Return (“Company TSR”) is equal to or below the 35th 25th percentile (“threshold”) of the Total Shareholder Return for the S&P 500 Industrial Index Companies (“S&P Industrials TSR”), then the Financial Goals Percentage will be multiplied by 80%. B. If the Company TSR is equal to the 55th 50th percentile (“target”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 100%. C. If the Company TSR is equal to or exceeds the 80th 75th percentile (“maximum”) of the S&P Industrials TSR, then the Financial Goals Percentage will be multiplied by 120%. If the Company TSR is between the threshold and target, or between the target and maximum, TSR Adjustment shall be determined by straight-line interpolation. However, in no event will the PSUs be adjusted to provide more than 175% of the PSUs Granted in total. All determinations regarding performance (both for the Financial Goals Percentage and TSR Adjustment) shall be made solely by the Committee in accordance with the customary accounting and financial reporting practices used by the Company for external reporting, and shall include adjustment for any recapitalization, split-up, spinoff, reorganization, restructuring or other similar corporate transaction as determined by the Committee to prevent dilution or enlargement of intended benefits.