Hubbell Policies

2. Qualifying restructuring and related costs Exhibit A lists common costs that qualify as Restructuring and Related Costs and the general ledger account and/or cost center assignments required for those costs. Costs not specifically listed in Exhibit A must be approved by the Assistant Corporate Controller to qualify.

• Restructuring and Related Costs must not be incurred prior to an approved Special Charges AFE template.

• Restructuring Costs are subject to special accounting treatment related to the timing of recognition; many types of Restructuring Costs will qualify for immediate recognition when the Special Charges AFE is approved. Refer to Exhibit A for guidelines related to the timing of recognition. • Restructuring and Related Costs MUST be recorded in the assigned general ledger account and/or cost centers, as applicable. • The Special Charges AFE template requires a forecast for Restructuring and Related Costs and the savings to be generated. Variances of > 10% of Restructuring and Related Costs will require a revised AFE to be approved. 3. Accounting and reporting In order to meet U.S. GAAP, SEC and Hubbell’s reporting requirements, Restructuring Costs and Restructuring and Related Costs are subject to specific reporting requirements. The following supplemental schedules related to restructuring activities on a monthly basis:

• Roll forward of Restructuring Liabilities – Due on workday 3 of the close in HFM.

• Forecast for Restructuring and Related Costs and Savings – Due on workday 7 of the close in Hyperion Planning.

Instructions to complete the Roll forward of Restructuring Liabilities and Forecast for Restructuring and Related Costs and Savings are included in Exhibit A.

The Group controller is responsible for reviewing the supplemental schedules on a monthly basis and to ensure those schedules include sufficient supporting documentation.

Any adjustments to Reserves for Restructuring Activities >$500,000 must be approved by the Assistant Corporate Controller.

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