Donaldson adopts management change-in-control severance plan effective Feb 1, 2023

DONALDSON Co INC

Plan replaces individual executive agreements; benefits are substantially the same.
Double-trigger: lump sum cash payment of 2x (3x for CEO) base salary plus target annual incentive.
Continued medical, dental, and other benefits for up to 3 years; outplacement services included.
Plan adds requirement for executive to execute a release of claims to receive benefits.
Restrictive covenants on confidentiality and non-disclosure are conditions of eligibility.

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