Exhibit (10)(e)* to Report
on Form 10-K for Fiscal
Year Ended June 30, 1999
by Parker-Hannifin Corporation
Form of Executive Life Insurance Agreement entered into by the Registrant and executive officers.
*Numbered in accordance with Item 601 of Regulation S-K.
EXECUTIVE LIFE INSURANCE AGREEMENT
This Executive Life Insurance Agreement ("Agreement") is made, as of February 1, 1999, by and between
Parker-Hannifin Corporation, an Ohio corporation (the "Corporation"), and
__________________________________ (the "Executive").
A. The Executive desires to insure his or her life for the benefit and protection of his or her family or designated
beneficiary under the Policy (as defined below); and
B. The Corporation desires to help the Executive provide certain insurance for the benefit and protection of his or
her family or designated beneficiary by providing funds to pay the premiums due on the Policy in accordance with
this Agreement; and
C. The Executive, as owner of the Policy, desires to assign certain rights and interests in the Policy to the
Corporation, to the extent provided herein, as security for repayment of certain funds provided by the
Corporation for the acquisition and/or maintenance of the Policy.
NOW, THEREFORE, in consideration of the foregoing, and the mutual agreements and covenants set forth
below, the parties to this Agreement agree as follows:
1. DEFINITIONS. For purposes of this Agreement, unless otherwise clearly apparent from the context, the
following phrases or terms shall have the following indicated meanings:
(a) "AGGREGATE PREMIUMS PAID" shall mean, at any time, an amount equal to (i) the cumulative premiums
paid by the Corporation on the Policy, less (ii) any policy loans to the Corporation and accrued and unpaid
interest thereon. Notwithstanding the foregoing, Aggregate Premiums Paid shall not include extra benefit riders or
agreements, other than those providing additional life insurance coverage on the Executive,