Document:

Amended and Restated Guaranty Agreement

 EXHIBIT 10.2 
  
 AMENDED AND RESTATED GUARANTY 
 GIVEN BY DOMESTIC LOAN PARTIES 
  
 This AMENDED AND RESTATED
GUARANTY (this “Guaranty”), dated as of December 16, 2005, by JohnsonDiversey Holdings, Inc. (f/k/a, Johnson Professional Holdings, Inc.), a Delaware corporation
(“Holdings”), and each of the other entities listed on the signature pages hereof or which becomes a party hereto pursuant to Section 24 hereof (each a “Subsidiary Guarantor” and, together with
Holdings, collectively, the “Guarantors” and individually a “Guarantor”), in favor of Citicorp USA, Inc. (“CUSA”), as administrative agent for the Secured Parties (in such
capacity, the “Administrative Agent”, and together with the other Secured Parties, each, a “Guarantied Party” and, collectively the “Guarantied Parties”), amends and restates in
its entirety the Existing Guaranty (as defined below). All capitalized term used herein and not otherwise defined herein shall have the respective meanings given to such terms in the Amended Credit Agreement referred to below. 
  
 W I T N E
S S E T H: 
  
 WHEREAS, JohnsonDiversey, Inc., a Delaware corporation (the “Borrower”), Holdings, the lenders and issuers party thereto from time to time, CUSA as administrative agent for the
lenders and issuers (in such capacity, the “Existing Administrative Agent”), Goldman Sachs Credit Partners L.P., as syndication agent for the lenders and issuers (in such capacity, the “Syndication
Agent”) and Bank One NA, ABN Amro Bank N.V., Royal Bank of Scotland plc, New York Branch and General Electric Capital Corporation, as co-documentation agents, are parties to the Credit Agreement, dated as of May 3, 2002 (as
amended, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”); and 
  
 WHEREAS, the Borrower has requested an amendment and restatement of the Existing Credit Agreement; and 
  
 WHEREAS, Holdings, the Borrower, the Lenders and Issuers, the
Administrative Agent, the Syndication Agent and JPMorgan Chase Bank, N.A. (successor in interest to Bank One NA), General Electric Capital Corporation and National City Bank of the Midwest, as co-documentation agents for the Lenders and Issuers,
have entered into the Amended and Restated Credit Agreement, dated as of December 16, 2005 (as amended, amended and restated, supplemented or otherwise modified, the “Amended Credit Agreement”) which amends and restates
the Existing Credit Agreement; and 
  
 WHEREAS,
(i) this Guaranty, on the terms and subject to the conditions set forth herein, shall amend and restate, in its entirety, the guaranty, dated as of May 3, 2002 (as amended prior to the date hereof, the “Existing
Guaranty”) entered into by the Guarantors and (ii) from and after the Effective Date, the Existing Guaranty shall be of no further force or effect, except to evidence the obligations incurred, the representations and warranties
made, and the actions or omissions performed or required to be performed, thereunder prior to the Effective Date; and 
  
 WHEREAS, Holdings is the shareholder of all but one non-voting share of the Borrower and each Subsidiary Guarantor is a direct or indirect
Subsidiary of the Borrower; and 
  
 WHEREAS, each
Guarantor will receive substantial direct and indirect benefits from the making of the Loans, the issuance of the Letters of Credit and the granting of the other financial accommodations to the Borrower under the Amended Credit Agreement; and

 WHEREAS, it is a condition precedent to the effectiveness of the Amended Credit Agreement
that the Guarantors shall have executed and delivered this Guaranty to the Administrative Agent for the benefit of the Guarantied Parties; and 
  
 WHEREAS, the Guarantors agree, among other things, to reaffirm the Existing Guaranty, the Liens granted in favor of the Guarantied Parties,
and the guaranties made in favor of the Guarantied Parties; 
  
 NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows: 
  
 Section 1. Guaranty. 
  
 (a) To induce the
Lenders to make the Loans and the Issuers to issue Letters of Credit, each Guarantor hereby absolutely, unconditionally and irrevocably guarantees, jointly with the other Guarantors and severally, as primary obligor and not merely as surety, the
full and punctual payment when due and in the currency due, whether at stated maturity or earlier, by reason of acceleration, mandatory prepayment or otherwise in accordance herewith or any other Loan Document, of all the Guaranteed Obligations (as
defined below) of such Guarantor, whether or not from time to time reduced or extinguished or hereafter increased or incurred, whether or not recovery may be or hereafter may become barred by any statute of limitations, and whether enforceable or
unenforceable as against the Borrower, now or hereafter existing, or due or to become due, including principal, interest (including interest at the contract rate applicable upon default accrued or accruing after the commencement of any proceeding
under the Bankruptcy Code or any similar Requirements of Law (such laws, together with the Bankruptcy Code, the “Bankruptcy Laws”), whether or not such interest is an allowed claim in such proceeding), fees and costs of
collection. This Guaranty constitutes a guaranty of payment and not of collection. 
  
 (b) “Guarantied Obligations” means the Obligations of the Borrower. 
  
 (c) Each Guarantor further agrees that, if any payment made by the Borrower or any other Person and applied to the Obligations is at any time annulled,
avoided, set aside, rescinded, invalidated, declared to be fraudulent or preferential or otherwise required to be refunded or repaid, or the proceeds of Collateral are required to be returned by any Guarantied Party to the Borrower, its estate,
trustee, receiver or any other party, including any Guarantor, under any Bankruptcy Laws, state or federal law, common law or equitable cause, then, to the extent of such payment or repayment, any such Guarantor’s liability hereunder (and any
Lien or other Collateral securing such liability) shall be and remain in full force and effect, as fully as if such payment had never been made or, if prior thereto this Guaranty shall have been cancelled or surrendered (and if any Lien or other
Collateral securing such Guarantor’s liability hereunder shall have been released or terminated by virtue of such cancellation or surrender), this Guaranty (and such Lien or other Collateral) shall be reinstated in full force and effect, and
such prior cancellation or surrender shall not diminish, release, discharge, impair or otherwise affect the obligations of any such Guarantor in respect of the amount of such payment (or any Lien or other Collateral securing such obligation).

  
 Section 2. Limitation of Guaranty. Any term
or provision of this Guaranty or any other Loan Document to the contrary notwithstanding, the maximum aggregate amount of the Obligations for which any Subsidiary Guarantor shall be liable shall not exceed the maximum amount for which such
Subsidiary Guarantor can be liable without rendering this Guaranty or any other Loan Document, as it relates to such Subsidiary Guarantor, subject to avoidance under applicable law relating to fraudulent 

 
conveyance or fraudulent transfer (including section 548 of the Bankruptcy Code or any applicable provisions of other Bankruptcy Laws) (collectively,
“Fraudulent Transfer Laws”), in each case after giving effect (a) to all other liabilities of such Subsidiary Guarantor, contingent or otherwise, that are relevant under such Fraudulent Transfer Laws (specifically
excluding, however, any liabilities of such Subsidiary Guarantor in respect of intercompany Indebtedness to the Borrower to the extent that such Indebtedness would be discharged in an amount equal to the amount paid by such Subsidiary Guarantor
hereunder) and (b) to the value as assets of such Subsidiary Guarantor (as determined under the applicable provisions of such Fraudulent Transfer Laws) of any rights to subrogation, contribution, reimbursement, indemnity or similar rights held
by such Subsidiary Guarantor pursuant to (i) applicable law, (ii) Section 3 of this Guaranty or (iii) any other agreement providing for an equitable allocation among such Subsidiary Guarantor and other Subsidiaries or
Affiliates of the Borrower of obligations arising under this Guaranty or other guaranties of the Obligations by such parties. 
  
 Section 3. Contribution. To the extent that any Subsidiary Guarantor shall be required hereunder to pay a portion of the Obligations
which shall exceed the greater of (i) the amount of the economic benefit actually received by such Subsidiary Guarantor from the Facilities and (ii) the amount which such Subsidiary Guarantor would otherwise have paid if such Subsidiary
Guarantor had paid the aggregate amount of the Obligations (excluding the amount thereof repaid by the Borrower and Holdings) in the same proportion as such Subsidiary Guarantor’s net worth at the date enforcement hereunder is sought bears to
the aggregate net worth of all the Subsidiary Guarantors at the date enforcement hereunder is sought, then such Guarantor shall be reimbursed by such other Subsidiary Guarantors for the amount of such excess, pro rata, based on the respective net
worths of such other Subsidiary Guarantors at the date enforcement hereunder is sought. 
  
 Section 4. Authorization; Other Agreements. The Guarantied Parties are hereby authorized, without notice to or demand upon any Guarantor, which notice or demand is expressly waived hereby, and
without discharging or otherwise affecting the obligations of any Guarantor hereunder (which shall remain absolute and unconditional notwithstanding any such action or omission to act), from time to time, to: 
  
 (a) supplement, renew, extend, accelerate or otherwise change the time for
payment of, or other terms relating to, the Obligations, or any part of them, or otherwise modify, amend or change the terms of any promissory note or other agreement, document or instrument (including, without limitation, the other Loan Documents)
now or hereafter executed by the Borrower and delivered to the Guarantied Parties or any of them, including, without limitation, any increase or decrease of principal or the rate of interest thereon; 
  
 (b) waive or otherwise consent to noncompliance with any provision of any
instrument evidencing the Obligations, or any part thereof, or any other instrument or agreement in respect of the Obligations (including the other Loan Documents) now or hereafter executed by the Borrower and delivered to the Guarantied Parties or
any of them; 
  
 (c) accept partial payments on the Obligations;

  
 (d) receive, take and hold additional security or collateral
for the payment of the Obligations or any part of them and exchange, enforce, waive, substitute, liquidate, terminate, abandon, fail to perfect, subordinate, transfer, otherwise alter and release any such additional security or collateral;

  
 (e) settle, release, compromise, collect or otherwise
liquidate the Obligations or accept, substitute, release, exchange or otherwise alter, affect or impair any security or collateral for the Obligations or any part of them or any other guaranty therefor, in any manner; 

 (f) add, release or substitute any one or more other guarantors, makers or endorsers of the Obligations
or any part of them and otherwise deal with the Borrower or any other guarantor, maker or endorser; 
  
 (g) apply to the Obligations any and all payments or recoveries from the Borrower, from any other guarantor, maker or endorser of the Obligations or any
part of them or from any Guarantor to the Obligations in such order as provided herein whether such Obligations are secured or unsecured or guaranteed or not guaranteed by others; 
  
 (h) apply any and all payments or recoveries from any Guarantor of the Obligations or sums realized from security furnished
by such Guarantor upon its indebtedness or obligations to the Guarantied Parties, or any of them, whether or not such indebtedness or obligations relate to the Obligations; and 
  
 (i) refund at any time any payment received by any Guarantied Party in respect of any of the Obligations, and payment to
such Guarantied Party of the amount so refunded shall be fully guaranteed hereby even though prior thereto this Guaranty shall have been cancelled or surrendered (or any release or termination of any Collateral by virtue thereof), and such prior
cancellation or surrender shall not diminish, release, discharge, impair or otherwise affect the obligations of any Guarantor hereunder in respect of the amount so refunded (and any Collateral so released or terminated shall be reinstated with
respect to such obligations); 
  
 even if any right of reimbursement or
subrogation or other right or remedy of any Guarantor is extinguished, affected or impaired by any of the foregoing (including, without limitation, any election of remedies by reason of any judicial, non-judicial or other proceeding in respect of
the Obligations which impairs any subrogation, reimbursement or other right of such Guarantor). 
  
 Section 5. Guaranty Absolute and Unconditional. Each Guarantor hereby waives any defense of a surety or guarantor or any other obligor
on any obligations arising in connection with or in respect of any of the following and hereby agrees that its obligations under this Guaranty are absolute and unconditional and shall not be discharged or otherwise affected as a result of:

  
 (a) the invalidity or unenforceability of any of the
Borrower’s obligations under the Amended Credit Agreement or any other Loan Document or any other agreement or instrument relating thereto, or any security for, or other guaranty of the Obligations or any part of them, or the lack of
perfection or continuing perfection or failure of priority of any security for the Obligations or any part of them; 
  
 (b) the absence of any attempt to collect the Obligations or any part of them from the Borrower or other action to enforce the same; 
  
 (c) failure by any Guarantied Party to take any steps to perfect and maintain
any Lien on, or to preserve any rights to, any Collateral; 
  
 (d)
any Guarantied Party’s election, in any proceeding instituted under chapter 11 of the Bankruptcy Code, of the application of Section 1111(b)(2) of the Bankruptcy Code or any comparable provisions of other Bankruptcy Laws; 
  
 (e) any borrowing or grant of a Lien by the Borrower, as
debtor-in-possession, or extension of credit, under Section 364 of the Bankruptcy Code or any comparable provisions of other Bankruptcy Laws; 

 (f) the disallowance, under Section 502 of the Bankruptcy Code or any comparable provisions of other
Bankruptcy Laws, of all or any portion of any Guarantied Party’s claim (or claims) for repayment of the Obligations ; 
  
 (g) any use of cash collateral under Section 363 of the Bankruptcy Code or any comparable provisions of other Bankruptcy Laws; 
  
 (h) any agreement or stipulation as to the provision of adequate
protection in any bankruptcy proceeding; 
  
 (i) the avoidance of
any Lien in favor of the Guarantied Parties or any of them for any reason; 
  
 (j) any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, liquidation or dissolution proceeding commenced by or against the Borrower, any Guarantor or any of the Borrower’s other
Subsidiaries, including without limitation, any discharge of, or bar or stay against collecting, all or any of the Obligations (or any part of them or interest thereon) in or as a result of any such proceeding; 
  
 (k) failure by any Guarantied Party to file or enforce a claim against the
Borrower or its estate in any bankruptcy or insolvency case or proceeding; 
  
 (l) any action taken by any Guarantied Party if such action is authorized hereby; 
  
 (m) any election following the occurrence of an Event of Default by any Guarantied Party to proceed separately against the personal property Collateral in
accordance with such Guarantied Party’s rights under the UCC (or other applicable legislation) or, if the Collateral consists of both personal and real property, to proceed against such personal and real property in accordance with such
Guarantied Party’s rights with respect to such real property; 
  
 (n) any change in the corporate existence or structure of the Borrower or any other Loan Party (other than as permitted in the Amended Credit Agreement); 
  
 (o) any defense, set-off or counterclaim (other than a defense of payment or performance) which may at any time be available
to or be asserted by any Guarantor or any other Person against any Guarantied Party; 
  
 (p) any Requirement of Law affecting any term of any Guarantor’s obligations under this Guaranty; or 
  
 (q) any other circumstance that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor or any other obligor on any
obligations, other than the payment in full of the Guarantied Obligations. 
  
 Section 6. Waivers. Each Guarantor hereby waives diligence, promptness, presentment, demand for payment or performance and protest and notice of protest, notice of acceptance and any other notice in
respect of the Guarantied Obligations or any part of them, and any defense arising by reason of any disability or other defense of the Borrower. Each Guarantor shall not, until the Obligations are irrevocably paid in full and the Commitments
have been terminated, assert any claim or counterclaim it may have against the Borrower or set off any of its obligations to the Borrower against any obligations of the Borrower to it. In connection with the foregoing, each Guarantor
covenants that its obligations hereunder shall not be discharged, except by complete performance. 

 Section 7. Reliance. Each Guarantor hereby assumes responsibility for keeping itself
informed of the financial condition of the Borrower and any and all endorsers and/or other guarantors of all or any part of the Obligations, and of all other circumstances bearing upon the risk of nonpayment of the Obligations, or any part thereof,
that diligent inquiry would reveal, and each Guarantor hereby agrees that no Guarantied Party shall have any duty to advise any Guarantor of information known to it regarding such condition or any such circumstances. In the event any Guarantied
Party, in its sole discretion, undertakes at any time or from time to time to provide any such information to any Guarantor, such Guarantied Party shall be under no obligation (i) to undertake any investigation not a part of its regular
business routine, (ii) to disclose any information which such Guarantied Party, pursuant to accepted or reasonable commercial finance or banking practices, wishes to maintain confidential or (iii) to make any other or future disclosures of
such information or any other information to any Guarantor. 
  
 Section 8. Waiver of Subrogation and Contribution Rights. Until the Obligations have been irrevocably paid in full and the Commitments have been terminated, the Guarantors shall not enforce or otherwise exercise any right
of subrogation to any of the rights of the Guarantied Parties or any part of them against the Borrower or any right of reimbursement or contribution or similar right against the Borrower by reason of this Guaranty or by any payment made by any
Guarantor in respect of the Obligations. 
  
 Section 9.
Subordination. Each Guarantor hereby agrees that any Indebtedness of the Borrower now or hereafter owing to any Guarantor, whether heretofore, now or hereafter created (the “Guarantor Subordinated Debt”), is hereby
subordinated to all of the Obligations, and that, except as permitted under Section 8.12(a) of the Amended Credit Agreement, the Guarantor Subordinated Debt shall not be paid in whole or in part until the Obligations have been paid in full
and this Guaranty is terminated and of no further force or effect. No Guarantor shall accept any payment of or on account of any Guarantor Subordinated Debt at any time in contravention of the foregoing. Upon the occurrence and during the
continuance of an Event of Default, the Borrower shall, upon demand, pay to the Administrative Agent any payment of all or any part of the Guarantor Subordinated Debt and any amount so paid to the Administrative Agent shall be applied to
payment of the Obligations as provided in Section 2.13(f) of the Amended Credit Agreement. Each payment on the Guarantor Subordinated Debt received in violation of any of the provisions hereof shall be deemed to have been received by such
Guarantor as trustee for the Guarantied Parties and shall be paid over to the Administrative Agent immediately on account of the Obligations, but without otherwise affecting in any manner such Guarantor’s liability hereof. Each Guarantor
agrees to file all claims against the Borrower in any bankruptcy or other proceeding in which the filing of claims is required by law in respect of any Guarantor Subordinated Debt, and the Administrative Agent shall be entitled to all of such
Guarantor’s rights thereunder. If for any reason a Guarantor fails to file such claim at least ten Business Days prior to the last date on which such claim should be filed, such Guarantor hereby irrevocably appoints the Administrative
Agent as its true and lawful attorney-in-fact and is hereby authorized to act as attorney-in-fact in such Guarantor’s name to file such claim or, in the Administrative Agent’s discretion, to assign such claim to and cause proof of
claim to be filed in the name of the Administrative Agent or its nominee. In all such cases, whether in administration, bankruptcy or otherwise, the person or persons authorized to pay such claim shall pay to the Administrative Agent the full
amount payable on the claim in the proceeding, and, to the full extent necessary for that purpose, each Guarantor hereby assigns to the Administrative Agent all of such Guarantor’s rights to any payments or distributions to which such Guarantor
otherwise would be entitled. If the amount so paid is greater than such Guarantor’s liability hereunder, the Administrative Agent shall pay the excess amount to the party entitled thereto. In addition, each Guarantor hereby irrevocably appoints
the Administrative Agent as its attorney-in-fact to exercise all of such Guarantor’s voting rights in connection with any bankruptcy proceeding or any plan for the reorganization of the Borrower. 

 Section 10. Default; Remedies. The obligations of each Guarantor hereunder are
independent of and separate from the Guarantied Obligations. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, at its sole election, proceed directly and at once, without notice, against any
Guarantor to collect and recover the full amount or any portion of the Guarantied Obligations then due, without first proceeding against the Borrower or any other guarantor of the Guarantied Obligations, or against any Collateral under the Loan
Documents or joining the Borrower or any other guarantor in any proceeding against any Guarantor. 
  
 Section 11. Irrevocability. This Guaranty shall be irrevocable as to any and all of the Guarantied Obligations until the Commitments
have been terminated and all monetary Obligations then outstanding have been irrevocably repaid in cash, at which time this Guaranty shall automatically be cancelled. Upon such cancellation and at the written request of any Guarantor or its
successors or assigns, and at the cost and expense of such Guarantor or its successors or assigns, the Administrative Agent shall execute in a timely manner a satisfaction of this Guaranty and such instruments, documents or agreements as are
necessary or desirable to evidence the termination of this Guaranty. 
  
 Section 12. Setoff. Upon the occurrence and during the continuance of an Event of Default, each Guarantied Party and each Affiliate of a Guarantied Party may, without notice to any Guarantor and regardless of the
acceptance of any security or collateral for the payment hereof, appropriate and apply toward the payment of all or any part of the Guarantied Obligations (i) any indebtedness due or to become due from such Guarantied Party or Affiliate to such
Guarantor, and (ii) any moneys, credits or other property belonging to such Guarantor, at any time held by or coming into the possession of such Guarantied Party or Affiliate. 
  
 Section 13. No Marshalling. Each Guarantor consents and agrees that no Guarantied Party or Person acting
for or on behalf of any Guarantied Party shall be under any obligation to marshal any assets in favor of any Guarantor or against or in payment of any or all of the Obligations. 
  
 Section 14. Enforcement; Amendments; Waivers. No delay on the part of any Guarantied Party in the
exercise of any right or remedy arising under this Guaranty, the Amended Credit Agreement, any of the other Loan Documents or otherwise with respect to all or any part of the Obligations, the Collateral or any other guaranty of or security for all
or any part of the Obligations shall operate as a waiver thereof, and no single or partial exercise by any such Person of any such right or remedy shall preclude any further exercise thereof. No modification or waiver of any of the provisions of
this Guaranty shall be binding upon any Guarantied Party, except as expressly set forth in a writing duly signed and delivered by the party making such modification or waiver. Failure by any Guarantied Party at any time or times hereafter to require
strict performance by the Borrower, any Guarantor, any other guarantor of all or any part of the Obligations or any other Person of any of the provisions, warranties, terms and conditions contained in any of the Loan Documents now or at any time or
times hereafter executed by such Persons and delivered to any Guarantied Party shall not waive, affect or diminish any right of any Guarantied Party at any time or times hereafter to demand strict performance thereof and such right shall not be
deemed to have been waived by any act or knowledge of any Guarantied Party, or its respective agents, officers or employees, unless such waiver is contained in an instrument in writing, directed and delivered to the Borrower or such Guarantor, as
applicable, specifying such waiver, and is signed by the party or parties necessary to give such waiver under the Amended Credit Agreement. No waiver of any Event of Default by any Guarantied Party shall operate as a waiver of any other Event of
Default or the same Event of Default on a future occasion, and no action by any Guarantied Party permitted hereunder shall in any way affect or impair any Guarantied Party’s rights and remedies or the 

 
obligations of any Guarantor under this Guaranty. Any determination by a court of competent jurisdiction of the amount of any principal and/or interest owing
by the Borrower to a Guarantied Party shall be conclusive and binding on each Guarantor irrespective of whether such Guarantor was a party to the suit or action in which such determination was made. 
  
 Section 15. Amendment and Restatement; Effectiveness 

  
 (a) This Guaranty shall not become effective until the
Effective Date. 
  
 (b) On the Effective Date, the Existing
Guaranty shall be amended and restated in its entirety by this Guaranty, and the Existing Guaranty shall thereafter be of no further force and effect except to evidence (i) the incurrence by the Guarantors of the obligations thereunder (whether
or not such obligations are contingent as of the Effective Date), (ii) the representations and warranties made by the Guarantors prior to the Effective Date and (iii) any action or omission performed or required to be performed pursuant to
such Existing Guaranty prior to the Effective Date (including any failure, prior to the Effective Date, to comply with the covenants contained in the Existing Guaranty). The amendments and restatements set forth herein shall not cure any breach
thereof or any “Default” or “Event of Default” under and as defined in the Existing Credit Agreement existing prior to the date hereof. This Guaranty is not in any way intended to constitute a novation of the
obligations and liabilities existing under the Existing Credit Agreement or evidence payment of all or any portion of such obligations and liabilities. Each of the Guarantors hereby consents to the execution, delivery and performance of the Amended
Credit Agreement and all of the other Loan Documents executed or delivered in connection therewith. 
  
 (c) The terms and conditions of this Guaranty and the Administrative Agent’s, the Lenders’ and the Issuers’ rights and remedies under this
Guaranty and the other Loan Documents shall apply to (i) all of the Obligations incurred under the Amended Credit Agreement and the Notes issued thereunder and all obligations of the Guarantors incurred under the Loan Documents and
(ii) all of the Obligations incurred under the Existing Credit Agreement and the Notes issued thereunder and all obligations of the Guarantors incurred under the Loan Documents (as defined in the Existing Credit Agreement) (the
“Existing Loan Documents”). 
  
 (d) Each
Guarantor hereby reaffirms the Liens granted pursuant to the Existing Loan Documents to the Existing Administrative Agent for the benefit of the Secured Parties (as defined in the Existing Credit Agreement), which Liens shall continue in full force
and effect during the term of this Guaranty and any renewals thereof and shall continue to secure the Secured Obligations, in each case, on and subject to the terms and conditions set forth in the Amended Credit Agreement and the Reaffirmation
Documents as defined in that certain Reaffirmation Agreement dated the date hereof among the Reaffirming Parties (as defined therein) and the Secured Parties (as defined therein). 
  
 (e) On and after the Effective Date, (i) all references to the Existing Guaranty (or to any amendment or any amendment
and restatement thereof) in the Loan Documents shall be deemed to refer to the Existing Guaranty, as amended and restated hereby, (ii) all references to any section (or subsection) of the Existing Guaranty in any Loan Document (but not herein)
shall be amended to become, mutatis mutandis, references to the corresponding provisions of this Guaranty and (iii) except as the context otherwise provides, on or after the Effective Date, all references to this Guaranty herein
(including for purposes of indemnification and reimbursement of fees) shall be deemed to be reference to the Existing Guaranty, as amended and restated hereby. 
  

Section 16. Successors and Assigns. This Guaranty shall be binding upon each Guarantor and upon the successors and assigns of such
Guarantors and shall inure to the benefit of the Guarantied Parties and their respective successors and assigns; all references herein to the Borrower and 

 
to the Guarantors shall be deemed to include their respective successors and assigns. The successors and assigns of the Guarantors and the Borrower shall
include, without limitation, their respective receivers, trustees and debtors-in-possession. All references to the singular shall be deemed to include the plural where the context so requires. 
  
 Section 17. Representations and Warranties; Covenants.
Each Guarantor hereby (a) represents and warrants that the representations and warranties as to it made by the Borrower in Article IV of the Amended Credit Agreement are true and correct on each date as required by Section 3.2(b)(i)
of the Amended Credit Agreement, (b) agrees to take, or refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take
such action or to refrain from taking such action by such Guarantor. 
  
 Section 18. Governing Law. This Guaranty and the rights and obligations of the parties hereto shall be governed by, and construed and interpreted in accordance with, the law of the State of New York. 
  
 Section 19. Submission to Jurisdiction; Service of
Process. 
  
 (a) Any legal action or proceeding with
respect to this Guaranty, and any of the other Loan Documents to which any Guarantor is party, may be brought in the courts of the State of New York or of the United States of America for the Southern District of New York, and, by execution and
delivery of this Guaranty, each Guarantor hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. The parties hereto hereby irrevocably waive any objection, including any
objection to the laying of venue or based on the grounds of forum non conveniens, which any of them may now or hereafter have to the bringing of any such action or proceeding in such respective jurisdictions. 
  
 (b) Each Guarantor hereby irrevocably designates, appoints and empowers CT
Corporation System, 111 Eighth Avenue, New York, NY 10011, Tel: (212) 894-8700, Fax: (212) 894-8790 the “Process Agent”), in the case of any suit, action or proceeding brought in the United States of America as its
designee, appointee and agent to receive, accept and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons, notices and documents that may be served in any action or proceeding arising out
of or in connection with this Guaranty or any of the other Loan Documents. Such service may be made by mailing (by registered or certified mail, postage prepaid) or delivering a copy of such process to such Guarantor in care of the Process Agent at
the Process Agent’s above address, and such Guarantor hereby irrevocably authorizes and directs the Process Agent to accept such service on its behalf. As an alternative method of service, each Guarantor irrevocably consents to the service of
any and all process in any such action or proceeding by the mailing (by registered or certified mail, postage prepaid) of copies of such process to the Process Agent or such Guarantor care of the Borrower at the Borrower’s address specified in
Section 11.8 of the Amended Credit Agreement or at such other address as the Borrower may specify pursuant to such Section 11.8. Each Guarantor agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
  
 (c) Nothing contained in this Section 18 shall affect the right of the Administrative Agent or any other Guarantied Party to serve process in
any other manner permitted by law or commence legal proceedings or otherwise proceed against a Guarantor in any other jurisdiction. 
  
 (d) If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder in Dollars or Euros into another currency, the
parties hereto agree, to the fullest extent 

 
that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent
could purchase Dollars or Euros, as the case may be, with such other currency at the spot rate of exchange quoted by the Administrative Agent at 11:00 a.m. (New York time) on the Business Day preceding that on which final judgment is given, for the
purchase of Dollars, for delivery two Business Days thereafter. 
  
 Section 20. Certain Terms. The following rules of interpretation shall apply to this Guaranty: (a) the terms “herein,” “hereof,” “hereto” and
“hereunder” and similar terms refer to this Guaranty as a whole and not to any particular Article, Section, subsection or clause in this Guaranty, (b) unless otherwise indicated, references herein to an Exhibit, Article,
Section, subsection or clause refer to the appropriate Exhibit to, or Article, Section, subsection or clause in this Guaranty and (c) the term “including” means “including without limitation” except when used
in the computation of time periods. 
  
 Section 21.
Waiver of Jury Trial. Each of the Administrative Agent, the other Guarantied Parties and each Guarantor irrevocably waives trial by jury in any action or proceeding with respect to this Guaranty and any of the other Loan Documents.

  
 Section 22. Notices. Any notice or other
communication herein required or permitted shall be given as provided in Section 11.8 of the Amended Credit Agreement and, in the case of any Guarantor, to such Guarantor in care of the Borrower. 
  
 Section 23. Severability. Wherever possible, each
provision of this Guaranty shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Guaranty shall be prohibited by or invalid under such law, such provision shall be ineffective to the
extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Guaranty. 
  
 Section 24. Additional Guarantors. Each of the Guarantors agrees that, if pursuant to Section 7.11(b) of the Amended Credit
Agreement the Borrower shall be required to cause any Subsidiary that is not a Guarantor to become a Guarantor hereunder, or if for any reason the Borrower desires any such Subsidiary to become a Guarantor hereunder, such Subsidiary shall execute
and deliver to the Administrative Agent a Guaranty Supplement in substantially the form of Exhibit A attached hereto and shall thereafter for all purposes be a party hereto and have the same rights, benefits and obligations as a
Guarantor party hereto on the Closing Date. 
  
 Section 25. Collateral. Each Guarantor hereby acknowledges and agrees that its obligations under this Guaranty are secured pursuant to the terms and provisions of the Collateral Documents executed by it in favor of the
Administrative Agent, for the benefit of the Secured Parties, and covenants that it shall not grant any Lien with respect to its property in favor, or for the benefit, of any Person other than the Administrative Agent, for the benefit of the Secured
Parties except as expressly permitted by the terms of the Amended Credit Agreement. 
  
 Section 26. Costs and Expenses. Each Guarantor agrees to pay or reimburse the Administrative Agent and each of the other Guarantied Parties upon demand for all out-of-pocket costs and expenses,
including, without limitation, reasonable attorneys’ fees (including allocated costs of internal counsel and costs of settlement), incurred by the Administrative Agent and such other Guarantied Parties in enforcing this Guaranty or any security
therefor or exercising or enforcing any other right or remedy available in connection herewith or therewith. 
  
 Section 27. Waiver. Each Guarantor hereby irrevocably and unconditionally waives, to the maximum extent not prohibited by law, any
right it may have to claim or recover any special, exemplary, punitive or consequential damage in any legal action or proceeding in respect of this Guaranty or any of the other Loan Documents. 

 Section 28. Execution in Counterparts. This Intercompany Guaranty may be
executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages
may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are attached to the same document. Delivery of an executed counterpart hereof by telecopy shall be effective as delivery of a
manually executed counterpart hereof. 
  
 Section 29.
Entire Agreement. This Guaranty, taken together with all of the other Loan Documents executed and delivered by the Guarantors, represents the entire agreement and understanding of the parties hereto and supersedes all prior
understandings, written and oral, relating to the subject matter hereof. 
  
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.] 

 IN WITNESS WHEREOF, this Guaranty has been duly
executed on the date first set forth above. 
  

			
	 JohnsonDiversey Holdings, Inc.,
 as
Guarantor

		
	 By:
	 	 /s/ Luis F. Machado

	 Name:
	 	 Luis F. Machado

	 Title:
	 	 Assistant Secretary

	
	 Auto-C, LLC

	 Chemical Methods Associates, Inc.

	 Chemical Methods Leasco, Inc.

	 DuBois International, Inc.

	 Integrated Sanitation Management, Inc.

	 JDI CEE Holdings, Inc.

	 JDI Holdings, Inc.

	 JohnsonDiversey Puerto Rico, Inc.

	 JohnsonDiversey Shareholdings, Inc.

	 JohnsonDiversey Subsidiary #1 LLC

	 Johnson Polymer, LLC

	 Johnson Wax Diversey Shareholdings, Inc.

	 JWP Investments, Inc.

	 Professional Shareholdings, Inc.

	 The Butcher Company,

	 each , as a Subsidiary Guarantor

		
	 By:
	 	 /s/ Luis F. Machado

	 Name:
	 	 Luis F. Machado

	 Title:
	 	 In the capacities listed on Schedule I

  

			
	 ACKNOWLEDGED this 16th day
 of December,
2005

	
	 CITICORP USA, INC.,
 as Administrative Agent and Secured Party

		
	 By:
	 	 /s/ Myles Kassin

	 Name:
	 	Myles Kassin
	 Title:
	 	Vice PresidentEmployment and Confidentiality Agreement

 EXHIBIT 10.1 
  
 Employment and Confidentiality Agreement 
  
 This Employment and Confidentiality Agreement (the “Agreement”) is made between First Bank of Beverly Hills (the “Bank”), a state chartered bank, and
Joseph W. Kiley, III (the “Employee”). The Bank is an affiliate of Beverly Hills Bancorp, Inc. a Delaware corporation (the “Company”). 
  
 Accordingly, on the basis of the representations, warranties, and covenants contained in this Agreement, the parties agree as follows effective as of January 1, 2006
(the “Effective Date”): 
  

	1.	ARTICLE 1 – EMPLOYMENT AND TERM 

  

	 	1.1.	The Bank earlier notified Employee that it was not renewing Employee’s employment under the terms of the Employment, Confidentiality and Contingent Severance Agreement dated
January 1, 2003 (the “Severance Agreement”). Accordingly, Employee’s employment pursuant to that Severance Agreement will expire December 31, 2005. Notwithstanding the fact that the Bank and Employee are entering into a new
employment relationship pursuant to this Agreement, the pay and benefits Employee is to receive under the terms of the Severance Agreement pursuant to Section 4.2(b) and (c) thereof shall not be impacted or otherwise affected by
Employee’s entering into this Agreement with the Bank and Employee shall begin to receive the pay and benefits outlined in the Severance Agreement as a result of the Bank’s non-renewal of the Severance Agreement commencing on
January 1, 2006. Likewise, Employee’s entitlement to receive the 2004 continuous service bonus payments pursuant to the Amended 2004 Annual Incentive Award Plan is not altered by this Agreement and thus payable on January 1, 2006.

  

	 	1.2.	Term. The term of employment under this Agreement shall commence on the Effective Date, and shall continue for a period of twelve (12) months thereafter. Either the Bank
or Employee may terminate the employment relationship under this Agreement at any time, with or without reason, upon thirty (30) days notice to the other. If the Bank provides thirty (30) days notice to terminate the employment
relationship, then it will have no further obligation to pay Employee his salary through the remainder of the term of this Agreement. The Bank may, at its option, offer to continue the employment relationship under this Agreement for an additional 6
month term, upon written notice to Employee. 

  

	2.	ARTICLE 2 – DUTIES OF THE EMPLOYEE 

  

	 	2.1.	 Position and Duties. The Bank will employ the Employee as its President and Chief Executive Officer, and Employee accepts such employment, on the terms and
conditions set forth in this Agreement. Employee will undertake and 

  

 Page 1 

	 	 
perform all duties as required of the position. Employee will render such services and perform such duties and acts in connection with any aspect of the
Bank’s business as may be lawfully required by the management or the Board of Directors of the Bank. Employee shall perform the services contemplated herein faithfully, diligently, to the best of Employee’s ability, and in the best
interests of the Bank. Employee will also devote his full and exclusive business time and efforts in rendering such services and to the extent of his authority will endeavor to ensure that the Bank is in compliance with all laws, rules, regulations
and policies applicable to the Bank. The Employee shall, at all times, adhere to and obey any and all written internal rules and regulations governing the conduct of the Bank’s employees as established and modified from time to time.

  

	 	2.2.	Exclusive Services. During his employment by the Bank, the Employee shall not, without the express prior written consent of the Board of Directors of the Bank, engage
directly or indirectly in any outside employment or consulting of any kind, whether or not the Employee receives remuneration for such services. Further, the Employee shall not engage in any activity that would impair the Employee’s ability to
act and exercise judgment in the best interest of the Bank. 

  

	 	2.3.	Subpoenas; Cooperation in Defense of the Bank. If the Employee, during employment or thereafter, is served with any subpoena or other compulsory judicial or administrative
process calling for production of confidential information or if the Employee is otherwise required by law or regulations to disclose confidential information, the Employee will immediately, before making any such production or disclosure, notify
the Bank and provide it with such information as may be necessary for the Bank to take such action as the Bank deems necessary to protect its interests. The Employee agrees to cooperate reasonably with the Bank, whether during employment or
thereafter, in the prosecution or defense of all threatened claims or actual litigation in which the Bank is or may become a party, whether now pending or hereafter brought, in which the Employee has knowledge of relevant facts or issues. The
Employee shall be reimbursed for reasonable expenses for travel time due to cooperating with the prosecution or defense of any litigation for the Bank. 

  

	 	2.4.	Other Obligations. The Employee acknowledges that the Bank from time to time may have agreements with other persons or with various governmental agencies that impose
obligations or restrictions on the Bank regarding inventions or creative works made during the course of the Bank’s work under such agreements, or that relate to the confidential nature of such work. The Employee agrees to be bound by all such
obligations and restrictions of which the Employee is informed by the Bank and to take all action necessary to discharge the obligations of the Bank thereunder. 

  

 Page 2 

	3.	ARTICLE 3 – COMPENSATION 

  

	 	3.1.	Base Salary. Employee will receive a base salary of $275,000.00 per year, less applicable withholdings. This salary shall be payable semi-monthly in accordance with the
Bank’s regular payroll practices. 

  

	 	3.2.	Bank Employee Benefits. Employee will be entitled to participate in the Bank’s employee benefit plans, including the Amended 2004 Annual Incentive Award Plan or its
successor, 401(k) savings plan, medical, dental, vision, long-term disability, and short term disability benefits or insurance programs on the same basis as any of those benefits or insurance programs are available generally to other officers of
similar position under the Bank’s then current personnel policies. The Bank and the Company will not, without Employee’s written consent, make any changes in Employee’s rights or benefits thereunder, except to the extent such changes
are made applicable to all executive-level Bank and Company employees on a non-discriminatory basis. The Bank’s obligations to continue coverage of these benefits under Section 4.2(c) of the above-referenced Severance Agreement will be
suspended during the period of time Employee continues his employment pursuant to this Agreement. Upon the termination of Employee’s employment pursuant to this Agreement, the Bank’s obligations under Section 4.2(c) of the Severance
Agreement will commence and continue under the provisions stated therein. 

  

	 	3.3.	Vacation. Employee will be eligible to earn vacation time at a rate of 13.33 hours per month up to a total of 160 hours in the calendar year. Vacation time not used in any
calendar year may be carried forward, provided, however, that, once the Employee has accrued 200 hours, Employee shall not be eligible to accrue additional vacation time until he has taken one or more days of vacation. 

  

	 	3.4.	Reimbursement for Expenses. To the extent Employee incurs necessary and reasonable business expenses in the course of his employment, the Bank will reimburse Employee for
such expenses, subject to the Bank’s then current policies regarding reimbursement of such business expenses. 

  

	 	3.5.	Indemnity and Insurance. Employee shall receive all benefits and privileges to which the Employee is entitled by law or pursuant to the Bylaws of the Bank or the Company.

  

	 	3.6.	2005 Bonus Payment. Employee will be eligible to receive a 2005 bonus in the amount of $175,000.00 pursuant to the Amended 2004 Annual Incentive Award Plan approved by the
Board on February 4, 2005. Said bonus payment will be made to Employee on or before March 15, 2006. 

  

	 	3.7.	 Continuous Service Bonus Eligibility. Employee will be eligible to receive a continuous service bonus in the amount of $75,000.00 if Employee remains
employed through June 30, 2006. If the Bank terminates Employee’s employment pursuant to this Agreement at any time prior to June 30, 2006, Employee will remain eligible to receive this continuous service bonus payment. Should
Employee terminate his employment relationship with the Bank prior to 

  

 Page 3 

	 	 
June 30, 2006, Employee will forfeit his eligibility for the continuous service bonus payment. If Employee is terminated for “cause” as
defined in Section 4.1 of this Agreement prior to June 30, 2006, then Employee is not entitled to and forfeits his eligibility for the continuous service bonus set forth in this Section 3.7. If Employee remains employed with the Bank
after June 30, 2006, then, at the Bank’s Board of Directors’ sole discretion, Employee may be provided a Bonus Opportunity in addition to the bonus mentioned in this Section 3.7 as provided in Section 3.2.

  

	4.	ARTICLE 4 – TERMINATION FOR CAUSE 

  

	 	4.1	Termination for Cause. Termination for cause shall mean termination because of Employee’s incompetence, personal dishonesty, willful misconduct, any breach of fiduciary
duty involving personal profit, habitual neglect of duties, intentional failure to perform stated duties, willful violation of any material law, rule or regulation, order or material breach of any employment policy of the Bank or any material breach
of any provision of this Agreement. Written notice delivered to Employee is a prerequisite to Termination for Cause and such termination shall be effective on the delivery date of the written notice. Employee shall have the right to receive
compensation or other benefits which have already vested or been earned as of the date of notice of Termination for Cause, unless expressly prohibited by the terms of any plan, program or agreement governing such compensation or benefits. Employee
shall receive no other compensation or severance pay in the event of Termination for Cause. 

  

	5.	ARTICLE 5 – CONFIDENTIALITY AND NON-SOLICITATION 

  

	 	5.1.	 Non-disclosure of Confidential and Trade Secret Information. Employee acknowledges that, in the course of employment with the Bank, Employee will have access
to and learn confidential information. Confidential information includes but is not limited to information about the Bank’s borrowers and clients, the terms and conditions under which the Bank or its affiliates deal with borrowers and clients,
pricing information for the purchase or sale of assets, financing and securitization arrangements, research materials, manuals, computer programs, formulas analyzing assets portfolios, techniques, data, marketing plans and tactics, technical
information, lists of asset sources, the processes and practices of the Bank and related companies, information contained in electronic or computer files, financial information, salary and wage information, and other information that is designated
by the Bank or its affiliates as confidential or that Employee knows or should know is confidential information provided by third parties that the Bank or its affiliates are obligated to keep confidential and all other proprietary information of the
Bank or its affiliates. Employee acknowledges that all confidential information is and shall continue to be the exclusive property of the Bank or its affiliates, whether or not prepared in whole or in part by the Employee and whether or not
disclosed to or entrusted to the Employee in connection with employment by the Bank. Employee agrees not to 

  

 Page 4 

	 	 
disclose confidential information, directly or indirectly, under any circumstances or by any means, to any third persons without the prior written consent of
the Bank. Employee agrees that he will not copy, transmit, reproduce, summarize, quote, or make any commercial or other use whatsoever of confidential information, except as may be necessary to perform work done by Employee for the Bank. Employee
agrees to exercise the highest degree of care in safeguarding confidential information against loss, theft or other inadvertent disclosure and agrees generally to take all steps necessary or requested by the Bank to ensure maintenance of the
confidentiality of the confidential information. Employee agrees in addition to the specific covenants contained herein to comply with all of the Bank’s policies and procedures, as well as all applicable laws, for the protection of confidential
information. 

  

	 	5.2.	Exclusions. Section 5.1 shall not apply to the following information: (a) information now or hereafter voluntarily disseminated by the Bank to the public or which
otherwise becomes part of the public domain through lawful means; (b) information already known to the Employee as documented by written records which predate Employee’s employment with the Bank; (c) information subsequently and
rightfully received from third parties and not subject to any obligation of confidentiality; or (d) information independently developed by Employee after termination of his employment. 

  

	 	5.3.	Confidential Proprietary and Trade Secret Information of Others. Employee represents that he has disclosed to the Bank any agreement to which Employee is or has been a party
regarding the confidential information of others and Employee understands that Employee’s employment by the Bank will not require Employee to breach any such agreement. Employee will not disclose such confidential information to the Bank nor
induce the Bank to use any trade secret proprietary information received from another under an agreement or understanding prohibiting such use or disclosure. 

  

	 	5.4.	Non-solicitation of Employees. During the period of twelve (12) months after termination of this Agreement, Employee shall not directly or indirectly solicit for
employment or for independent contractor work any employee of the Bank or the Company, and shall not encourage any such employee to leave the employment of the Bank or the Company. 

  

	 	5.5.	Company to Benefit from Provisions. To the extent any provisions of this Article 5 relates in any way to confidential information and trade secrets of the Company, then the
obligations of Employee set forth in this Article 5 shall also extend to the Company and inure to its benefit. 

  

	6.	ARTICLE 6 – BANK’S OWNERSHIP IN EMPLOYEE’S WORK 

  

	 	6.1.	 Bank’s Ownership. The Employee agrees that all inventions, discoveries, improvements, trade secrets, formulas, techniques, mask works, processes, and

  

 Page 5 

	 	 
know-how, whether or not patentable, and whether or not reduced to practice, that are conceived or developed during the Employee’s employment with the
Bank, either alone or jointly with others, or relating to the Bank or to the banking industry shall be owned exclusively by the Bank, and the Employee hereby assigns to the Bank all Employee’s right, title, and interest in all such intellectual
property. The Employee agrees that the Bank shall be the sole owner of all rights pertaining thereto, including but not limited to domestic and foreign patents or other rights pertaining thereto, and further agrees to execute all documents that the
Bank reasonably determines to be necessary or convenient for use in applying for, prosecuting, perfecting, or enforcing patents or other intellectual property rights, including the execution of any assignments, patents applications, or other
documents that Bank may reasonably request. The Employee shall claim no interest in any inventions, copyrighted material, mask works, patents, or patent applications unless the Employee demonstrates that any such invention, copyrighted material,
mask, work, patent, or patent application was developed before he began any employment with the Bank. This provision is intended to apply only to the extent permitted by applicable law. 

  

	 	6.2.	Statutory Limitation on Assignment. The Employee understands that the Bank is hereby advising the Employee that any provision in this Agreement requiring the Employee to
assign rights in any invention does not apply to an invention that qualifies fully under the provisions of Section 2870 of the California Labor Code. That Section provides, as follows: 

  

	 	(a)	Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not
apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information, except for those inventions that either: 

  

	 	(1)	Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the
employer; or 

  

	 	(2)	Result from any work performed by the employee for the employer. 

  

	 	(b)	To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision
(a), the provision is against the public policy of this state and is unenforceable. 

  
 By signing this Agreement, the Employee acknowledges that this paragraph shall constitute written notice of the provisions of Section 2870.

  

 Page 6 

	 	6.3	Ownership of Records. Any written record that the Employee may maintain of inventions, discoveries, improvements, trade secrets, formulae, processes, or know-how, whether or
not patentable and whether or not reduced to practice, and any such records relating to original works of authorship or mask works made by the Employee, alone or jointly with others, in the course of the Employee’s employment with the Bank
shall remain the property of the Bank. The Employee shall furnish the Bank any and all such records immediately upon request. 

  

	 	6.4	Ownership of Records. If the Employee, during employment with the Bank, is engaged in or associated with the planning or implementation of any project, program, or venture
involving the Bank and any third parties, all rights in the project, program, or venture shall belong to the Bank, and the Employee shall not be entitled to any interest therein or to any commission, finder’s fee, or other compensation in
connection therewith other than the salary to be paid to the Employee as provided in this Agreement. 

  

	 	6.5	Return of Bank’s Property and Materials. Upon termination of employment with the Bank, Employee shall deliver to the Bank all Bank property and materials that are in the
Employee’s possession or control, including all of the information described as confidential information in Article 5 of this Agreement and including all other information relating to any inventions, discoveries, improvements, trade secrets,
formulae, processes, know-how, original works of authorship, or mask works of the Bank. 

  

	 	6.6	Company to Benefit from Provisions. To the extent any provisions of this Article 6 relates in any way to information, property, rights, projects, ventures, or inventions of
the Company, then the obligations of Employee set forth in this Article 6 shall also extend to the Company and inure to its benefit. 

  

	7.	ARTICLE 7 – DISPUTE RESOLUTION AGREEMENT  

  

	 	7.1	In the event of any dispute, claim or controversy between the Bank and Employee, both parties agree to initially submit such dispute, claim or controversy to non-binding mediation,
by a mediator mutually agreed upon by the Bank and Employee. The disputes, claims and controversies to be submitted to mediation include, but are not limited to, claims arising from the California Constitution; Title VII of the Civil Rights Act of
1964 (42 U.S.C. §2000e); the California Fair Employment and Housing Act (Cal.Govt. Code §12900 et seq.); the Americans with Disabilities Act; the Age Discrimination in Employment Act (29 U.S.C. §§ 621-633a); the Older
Workers’ Benefit Protection Act; and claims of intentional infliction of emotional distress; breach of contract including but not limited to this Agreement; breach of implied contract; or any other statute or common law principle of similar
effect. 

  

	 	7.2	 Either party may commence the non-binding mediation process called for in this Dispute Resolution Agreement by providing written notice upon the 

  

 Page 7 

	 	 
other party as set forth in paragraph 8.10 of this Agreement. The parties will then agree to submit the claim to a mediator mutually agreed upon by the Bank
and Employee. The parties will cooperate with one another and with the non-binding mediator, in selecting a mediator, and in scheduling the mediation. 

  

	 	7.3	The Bank shall pay all of the fees and costs of the non-binding mediation and will pay for its own attorney’s fees and will not request any fees or costs from the Employee.
Should the Employee retain legal counsel, the cost of such legal counsel shall be the sole responsibility of the Employee. 

  

	 	7.4	If the parties fail to resolve their dispute, claim or controversy in non-binding mediation as set forth in paragraphs 7.1-7.3, above, then the Bank and Employee agree to submit
such dispute, claim or controversy to final and binding arbitration, by an arbitrator or association mutually agreed upon by the Bank and Employee. The disputes, claims and controversies to be submitted to arbitration include, but are not limited
to, claims arising from the California Constitution; Title VII of the Civil Rights Act of 1964 (42 U.S.C. §2000e); the California Fair Employment and Housing Act (Cal.Govt. Code §12900 et seq.); the Americans with Disabilities Act; the Age
Discrimination in Employment Act (29 U.S.C. §§ 621-633a); the Older Workers’ Benefit Protection Act; and claims of intentional infliction of emotional distress; breach of contract including but not limited to this Agreement; breach of
implied contract; or any other statute or common law principle of similar effect. 

  

	 	7.5	Either party may commence the arbitration process called for in this Dispute Resolution Agreement by first filing a demand upon the other party. The parties will then agree to
submit the claim to the arbitrator or association mutually agreed upon by the Bank and Employee. Thereafter, the demand shall be filed with the arbitrator or association mutually agreed upon. The arbitration will be conducted in accordance with
provisions set forth by such individual or organization, that are in effect at the time of filing the demand for arbitration. The parties will cooperate with one another and with the arbitrator or association, in selecting an arbitrator, and in
scheduling the arbitration proceedings. The arbitrator will issue a written award discussing the facts and the law. The arbitrator shall have the authority to provide for all types of relief that would otherwise be available in court.

  

	 	7.6	For purposes of the arbitration, the parties are entitled to file responsive pleadings, cross complaints, demurrers, motions to strike, motions for summary judgment and motions for
judgment on the pleadings pursuant to the California Rules of Civil Procedure Code and the California Evidence Code. The parties are entitled to conduct discovery pursuant to the California Code of Civil Procedure. 

  

	 	7.7	The Bank shall pay all of the fees and costs of the arbitration and will pay for its own attorney’s fees and will not request any fees or costs from the Employee. Should the
Employee retain legal counsel, the cost of such legal counsel shall be the sole responsibility of the Employee. 

  

 Page 8 

	 	7.8	Employee Acknowledgment. By initialing in the space below you are agreeing to have all disputes, claims or controversies arising out of or relating to your employment decided
by neutral arbitration, and you are giving up any rights you might possess to have those matters litigated in court or jury trial. By initialing in the space below you are giving up your judicial right to appeal. If you refuse to submit to
arbitration after agreeing to this provision, you may be compelled to arbitrate under federal or state law. Your agreement to this arbitration provision is voluntary. 

  
 I have read and understand the foregoing and agree to submission of all disputes, claims or controversies arising out of or
relating to this agreement to neutral arbitration in accordance with this agreement. 
  

							
				
	 	 	 	 	 	 	 
	 	 	 EMPLOYEE
	 	 	 	 THE BANK

  

	 	7.9	Employee has been advised to seek the advice of an attorney regarding the legal effect of this agreement prior to signing it. The Employee specifically acknowledges that the
Employee is entering into this agreement voluntarily and has not been coerced into signing the agreement. 

  

	8.	ARTICLE 8 – MISCELLANEOUS 

  

	 	8.1	Severable Provisions. The provisions of this Agreement are separate and distinct, and if any provisions are determined to be unenforceable, in whole or in part, the remaining
provisions, and the enforceable parts of any partially unenforceable provisions, shall nevertheless be enforceable. 

  

	 	8.2	Indemnification. The Bank and Employee are entering into an indemnification agreement in the form attached hereto as Exhibit “A.” Any payments made to Employee
pursuant to such indemnification agreement are subject to and conditioned upon compliance with 12 C.F.R. Section 545.121, and any rules or regulations promulgated thereunder. 

  

	 	8.3	Successors and Assigns. The Bank shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation, or otherwise to all or substantially
all of the business or assets of the Bank to expressly assume and agree to perform in writing this Agreement in the same manner and to the same extent that the Bank would be required to perform it if no such succession or assignment had taken place.
This Agreement shall inure to the benefit of and be binding upon the Bank, its successors and assigns, and upon the Employee and his heirs, executors, administrators and legal representatives. No party to this Agreement may delegate its or his
duties hereunder without the prior written consent of the other parties to this Agreement. 

  

 Page 9 

	 	8.4	Governing Law. California law shall in all respects govern the validity, construction, and interpretation of this Agreement. 

  

	 	8.5	Source of Payments. All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company, however, unconditionally
guarantees payment and provision of all amounts and benefits due hereunder to Employee and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the
Company. 

  

	 	8.6	Incorporation by Reference of Relevant Regulatory Law. This Agreement incorporates by reference all applicable regulatory law, including but not limited to 12 U.S.C. section
1828(k) and any regulations promulgated under it; 12 U.S.C. section 1818(e); and 12 C.F.R. section 563.39(b); and all replacement statutes and regulations. 

  

	 	8.7	Integration. This Agreement, including any documents expressly incorporated into it by the terms of this Agreement, constitute the entire agreement between the parties and
supersedes all prior oral and written agreements, understandings, negotiations, and discussions relating to the subject matter of this Agreement. With this Agreement the parties rescind any previous employment agreements or arrangements between
themselves. 

  

	 	8.8	No Oral Modification. Any supplement, modification, waiver, or cancellation of this Agreement is valid only if it is set forth in a writing signed by both parties.

  

	 	8.9	No Waiver. The waiver of any provision of this Agreement shall not constitute a waiver of any other provision and, unless otherwise stated, shall not constitute a continuing
waiver. 

  

	 	8.10	Notices. Any notices required under this Agreement shall be in writing and shall be deemed to have been given (i) if personally delivered, when so delivered,
(ii) if mailed, one week after having been placed in the U.S. mail, registered or certified, postage prepaid, addressed to the party to whom it is directed at the address listed below, or (iii) if given by facsimile, when the notice is
transmitted to the facsimile number specified below, and confirmation is received: 

  
 If to the Bank: 
  
 23901 Calabasas Road, Suite 1050 
 Calabasas,
CA 91302 
 Attention: Chairman, Compensation Committee 
 With a copy to the Chairman of the Board 
 Telephone: (818) 223-5474 
 Facsimile: (818) 223-5487 
  

 Page 10 

 If to Employee: 
  

Joseph W. Kiley, III 
 14734 Valley Vista
Boulevard 
 Sherman Oak, CA 91403 
 Telephone: (818) 783-4334 
 Facsimile: (818) 783-4523 
  

	9.	ARTICLE 9 – ADVICE OF COUNSEL 

  
 Each party acknowledges that it has had an opportunity to negotiate, carefully consider, and receive the advice of any attorney of its own choosing on the terms of this
Agreement before signing it. To the extent that any party does not seek the advice of an attorney, it knowingly and freely waives such a right. 
  

									
	 ACCEPTED AND AGREED TO:
	 	 	 	 ACCEPTED AND AGREED TO:

			
	 THE BANK
	 	 	 	 EMPLOYEE

			
	 Date: December 21, 2005.
	 	 	 	 Date: December 21, 2005.

					
	 By
	 	 /s/ Larry B. Faigin
	 	 	 	 By
	 	 /s/ Joseph W. Kiley, III

	 	 	 Larry B. Faigin
	 	 	 	 	 	 Joseph W. Kiley, III

	 	 	 Executive Vice President
 First Bank of Beverly Hills
	 	 	 	 	 	 

  

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