January 12, 2012 Gentlemen:Illinois Tool Works Inc • January 13th, 2012 • General industrial machinery & equipment • New York
This letter constitutes the agreement (the “Agreement”) between Illinois Tool Works Inc., a Delaware corporation (the “Company”), on the one hand, and Relational Investors LLC (“Investor”) and each of the other individuals and entities set forth on the signature pages hereto (the “Investor Affiliates,” and together with Investor, the Investor Affiliates, and the Affiliates and Associates of each of the foregoing, the "Investor Group”), on the other hand, with respect to the matters set forth below:
