Exhibit 10(b)

PARKER-HANNIFIN CORPORATION

SUMMARY OF THE COMPENSATION OF THE NON-EMPLOYEE MEMBERS OF THE BOARD OF DIRECTORS

Adopted August 15, 2012, effective October 24, 2012

Annual retainer for Corporate Governance and Nominating

Committee Chair:                            $145,000

Annual retainer for Audit Committee Chair:                $135,000

Annual retainer for Human Resources and Compensation

Committee Chair:                            $130,000

Annual retainer for Finance Committee Chair:            $127,500

Annual retainer for non-chair committee members:            $120,000

Meeting fees of $2,000 for attending each Board of Directors or Committee meeting that exceeds the number of regularly-scheduled meetings of the Board or the relevant Committee in a fiscal year by more than two.

Annual restricted stock grant