Hubbell Policies

Roles and Responsibilities. The Business Unit Controller is responsible for ensuring the accrual on the General Ledger agrees to the Required Reserve in the most recent Corporate Standard Outbound Freight Template. Monitoring, Evaluation and Review. An analysis and updated calculation of Accrued Freight must be performed monthly and the accrual adjusted at least quarterly. Exceptions. In order to obtain an exception to this procedure a written request must be submitted to the Vice President, Corporate Controller that contains a compelling business reason why the Procedure cannot be adhered to. ACCOUNTING AND DISCLOSURE None REPORTING None DEFINITIONS Outbound Freight shall mean Freight incurred as a result of shipping inventory as part of a sale to a third-party (i.e. not a Hubbell affiliate). Corporate Standard Outbound Freight Template shall mean Template created by the Corporate Controller’s Group included in the Related Documents section below. RELATED DOCUMENTS (Policies, Guidelines, Standards)

• FIN-12 Policy for Contingencies and Reserves • Corporate Standard Outbound Freight Template VERSION Version Approval

Effective 2014.08.01 2019.08.15

Changes

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J. Capozzoli, A. Hsieh, S. Mais J. Capozzoli, K. Lane, S. Mais

Original Issue

Conformed to new template

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