Open following link for T104 wiring diagram:
http://waterheatertimer.org/How-to-wire-T104-Intermatic-timer.htmlYour new timer is L 1 X 2, so that is not Intermatic T104.
You might have GE/Tork 15061 that fits into Intermatic box.
http://waterheatertimer.org/GE-timers-and-manuals.html#GE-replacementFirst thing to check is if new timer is 240Volts to match old T104.
If new timer is 240V, then here is crossover:
"Old 1" goes to new L >> and notice that L and 1 are connected by brass bridge. If bridge is missing, add a jumper wire between L and 1 on new timer
"Old 2" goes to new 2
"Old 3" goes to new X
"Old 4" goes to new X
T104 Intermatic timer is SPDT single pull double throw, so it turns off both wires going to Load.
New L1X2 timer is SPST single pull single throw, so it turns off one wire going to Load, and that's why old 3 and old 4 both connect to terminal X.
If this is too complex, then add a comment or buy new trippers and a new WG1573 clock motor and repair T104 for $20.
http://waterheatertimer.org/Intermatic-trippers-and-parts.html#T100
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