Hubbell Policies

open orders for each customer. Established credit limits should be reviewed as circumstances warrant, and limits should be revised as needed. The credit policy for each Operating Platform (business unit) shall specify the approval levels required for certain amounts of credit exposure. The credit rating and financial status of an affiliate of the customer may be used in setting the credit limit of the customer if the affiliate provides a guarantee on behalf of the customer. For marginal accounts, a UCC search should be conducted and the use of credit enhancements should be considered such as, but not limited to: letters of credit, security interests, comfort letters, subordination agreements and credit insurance. 5. The Treasury Group will annually, using the month-end May Aging Report, consolidate credit limits across SAP and Non- SAP companies to determine Hubbell’s Total Credit Exposure to each customer. Based upon the consolidated report and with consultation from the Platform Presidents, the General Counsel, CFO, Corporate Controller and the Treasurer shall sign off with respect to customers whose Total Credit Exposure exceeds $5 million. 6. For all business units, any credit limit established for a new customer or increases for an existing customer that exceed $1 million or its equivalent in foreign currency, must be approved by the Corporate Treasurer. 7. Each Operating Platform shall establish standard terms and conditions for domestic and international credit sales, which reflect industry practices and competitive forces in the marketplace. The CFO, Treasurer along with the Group Vice President, Controller and/or VP of Finance of the Operating Platform must approve any term that extends credit beyond 120 days. 8. Collection procedures should be focused on bringing past due accounts back to a current status and on ensuring that all legal rights and remedies remain available. No open account shipments shall be made to any past due customer without appropriate approval as specified in the Operating Platform’s credit policy. Workout arrangements resulting in restructured payment terms may be initiated with past due customers. The terms of any workout arrangement in excess of $250,000, or its equivalent in foreign currency, requires approval of the Treasurer. All business units must have written collection procedures, which specify the appropriate steps and actions to be taken at various time frames of customer delinquency. 9. When a bad debt is determined to be uncollectible the following approvals for write off must be obtained: • Write off of bad debt greater than $1MM requires approval of Senior VP & CFO, VP & Treasurer and Vice President, Controller. • Write off of bad debt less than $1MM but greater than $500k requires approval of VP & Treasurer and Vice President, Controller. Roles and Responsibilities. 1. Each Platform VP of Finance shall prepare and submit to the VP & Treasurer the Credit & Collection practice and procedures for his(her) Platform (business units) in accordance with this Procedure as set forth above. 2. VP & Treasurer shall review and approve submissions . VP & Treasurer shall coordinate the preparation of a consolidated report outlining Total Credit Exposure for each customer. 3. VP & Treasurer shall coordinate the approval of any Total Credit Exposure for any one customer that exceeds $5 million. 4. Each Platform VP of Finance shall establish standard terms for domestic and international sales to customers. These terms may differ for domestic and international sales. ADMINISTRATION

Monitoring, Evaluation and Review. Vice President and Treasurer will be responsible for monitoring compliance with the Procedure.

Exceptions. There are no exceptions to this Procedure unless approved by the Vice President and Treasurer.

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