Document:

Visa Excess Thrift Plan, amended & restated effective as of June 1, 2005

 Exhibit 10.11 
 VISA 
 EXCESS THRIFT PLAN 
 (Amended and Restated Effective June 1, 2005) 
  

	1.	Purpose. As the result of the Employee Retirement Income Security Act of 1974 (“ERISA”), as modified by subsequent tax legislation, a maximum has been placed on the
amounts that may be contributed under the Visa Thrift Plan (the “Thrift Plan”) on behalf of certain participants. The purpose of this plan is therefore to provide for benefits to those participants whose contributions under the Thrift Plan
may be limited by the provisions of Sections 401(a)(17) and 415 of the Internal Revenue Code of 1986, as amended (“Code”) on a basis consistent with the Thrift Plan without regard to these provisions. 

  

	2.	Eligibility. Any Participant in the Thrift Plan whose Compensation exceeds the maximum limit set forth in Section 401(a)(17) of the Code or whose contributions are limited by
the annual addition limitations of Section 415 of the Code shall be eligible for benefits under this plan (hereinafter called the “Excess Thrift Plan”). 

  

	3.	Amount of Benefits. An eligible Participant shall be credited at the end of each payroll period with an amount under the Excess Thrift Plan (herein called the “Excess
Addition”) equal to the excess, if any, of (a) over (b) where: 

  

	 	(a)	is the Employer Contribution which would have been contributed for the Participant under the Thrift Plan, if the limitations imposed on Compensation under Section 401(a)(17) of the
Code and the limit on annual additions under Section 415 of the Code did not apply; and 

  

	 	(b)	is the Employer Contribution which is contributed for the Participant under the Thrift Plan. 

 The Excess Addition is calculated assuming that the Participant’s Participating Contributions to the Thrift Plan for the applicable payroll period
equaled three percent (3%) of the Participant’s Compensation payable during such period, determined without regard to the limitation on Compensation described above. 
  

	4.	Accumulation of Excess Additions. Each Excess Addition shall be added to all prior Excess Additions to determine an eligible Participant’s total Excess Additions. The
value of each Participant’s total Excess Additions shall be determined at the end of each payroll period as though the total Excess Additions had been invested according to the Participant’s election under the Excess Thrift Plan (or as
though invested in the default investment under the Excess Thrift Plan, if the Participant has not made an investment election with respect to the Excess Additions). 

	5.	Payment of Benefits. Distribution of Excess Additions shall be made as follows: 

  

	 	(a)	Excess Additions Accumulated Prior to January 1, 2005: Excess Additions that are accumulated on behalf of a Participant prior to January 1, 2005 shall be paid in a single
lump sum or in annual installments for a period of 2 to 15 years and such payments shall be made or commence either (i) as soon as administratively practicable following the date a Participant ceases to be an Employee and incurs a “separation
from service” within the meaning of Section 409A of the Code or (ii) during the January next following the date described in (i), above; provided that the payment is made or commenced by the December 31 next following such date or, if later, by
the 15th day of the third calendar month following such date. Notwithstanding the above, if a Participant does not elect a payment form or commencement date prior to July 1, 2005, such Excess Additions shall be paid in a single lump sum at the time
described in (i), above. 

  

	 	(b)	Excess Additions Accumulated After December 31, 2004: Excess Additions that are accumulated on behalf of a Participant after December 31, 2004 shall be paid in a single lump
sum. Such payment shall be made as soon as administratively practicable following the date a Participant ceases to be an Employee and incurs a “separation from service” within the meaning of Section 409A of the Code, provided the payment
is made by the December 31 next following such date or, if later, by the 15th day of the third calendar month following such date. 

  

	 	(c)	Excess Additions Accumulated on Behalf of Participants Who Ceased to Be Employees Prior to June 1, 2005. Notwithstanding paragraphs (a) and (b), above, Excess Additions that
are accumulated on behalf of a Participant who ceased to be an Employee prior to June 1, 2005 shall be paid in a single lump sum by December 31, 2005, if payment has not previously commenced or been made. 

  

	6.	Funding. Benefits under the Excess Thrift Plan payable with respect to any Participant shall be payable from the general assets of Visa USA, Inc. and/or Visa International
Service Association, and each corporation shall be obligated to make such payment only to the extent the Participant’s Excess Additions are attributable to Employer Contributions described in paragraph 3(a) above that would have been
contributed by that corporation (or any other Participating Company owned thereby). Nothing contained herein shall be deemed to create a trust of any kind. Any funds which may be from time to time set aside to meet the obligations of either
corporation hereunder shall continue for all purposes to be part of that corporation’s general assets, and no other person shall, by virtue of this Excess Thrift Plan, have any interest in such funds. 

  

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	7.	Administration. The Excess Thrift Plan shall be construed, interpreted and administered by the Visa Employee Benefits Board in a manner consistent with Article XVI of the
Thrift Plan. Any interpretation shall be final and binding on all Participants and their beneficiaries. 

  

	8.	Amendment and Termination. The Excess Thrift Plan may be amended or terminated by the Boards of Directors of Visa USA, Inc. and Visa International Service Association, or the
Executive or Compensation Committees thereof, and any amendment must be jointly authorized by both boards or committees, and shall terminate or divide into two successor plans for the Employees of each corporation and the Employees of any other
Participating Company owned by either corporation at the time of the division, when the Thrift Plan terminates or divides. No amendment or termination of the Excess Thrift Plan shall reduce or eliminate the benefits payable thereunder based on a
Participant’s Excess Additions credited under the Excess Thrift Plan through the date of the amendment or termination. 

  

	9.	Prohibition Against Assignment. To the extent permitted by law, the right of any Participant in any benefit or to any payment hereunder shall not be subject in any manner to
attachment or other legal process for the debts of such Participant; and any such benefit or payment shall not be subject to anticipation, alienation, sale, transfer, assignment or encumbrance. 

  

	10.	Liability for Administration. No member of the Board of Directors of Visa USA, Inc., Visa International Service Association, or any other Participating Company owned thereby,
or of the Visa Employee Benefits Board, and no officer or employee of Visa USA, Inc., Visa International Service Association, or any Participating Company owned thereby, shall be liable to any person for any action taken or omitted in connection
with the administration of this Excess Thrift Plan unless attributable to his or her own fraud or willful misconduct, nor shall any such entity be liable to any person for any such action unless attributable to fraud or willful misconduct on the
part of a director, officer or employee of that entity. 

  

	11.	Governing Law. The Excess Thrift Plan shall be governed by the laws of the State of California. 

  

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	12.	Definitions. Except as specifically set forth in the Excess Thrift Plan, capitalized terms shall have the meanings assigned to them in the Thrift Plan.

  

 4Form of Escrow Agreement

 Exhibit 10.15 
 [FORM OF ESCROW AGREEMENT] 
 ESCROW AGREEMENT 
 ESCROW AGREEMENT, dated as of [·], 2007 (this
“Agreement”), among VISA Inc., a Delaware corporation (“Visa Inc.”), Visa U.S.A. Inc., a Delaware corporation (“Visa USA”) and [·] (the “Escrow Agent”). 
 WITNESSETH: 
 WHEREAS, Visa Inc., Visa USA, Visa International Service Association (“Visa International”) and the other parties thereto have entered
into a Global Restructuring Agreement, dated as of June 15, 2005 (the “Global Restructuring Agreement”), pursuant to which, on the terms and subject to the conditions contained therein, Visa USA and Visa International will
become direct subsidiaries of Visa Inc. 
 WHEREAS, capitalized terms used and not otherwise defined herein shall have their respective
meanings as defined in Annex I to the Global Restructuring Agreement; 
 WHEREAS, it is contemplated that, after the Restructuring
contemplated by the Global Restructuring Agreement, Visa Inc. will undertake an IPO, subject to market conditions; 
 WHEREAS, following the
consummation of the IPO, Visa Inc. and Visa USA intend to apply a portion of the net proceeds of the IPO to establish a fund (the “Escrow Fund”) to be used in connection with the payment of the Visa Litigation Obligations (as
defined in Section 2(a) of the Loss Sharing Agreement); 
 WHEREAS, once it is deposited in accordance with the terms of this Agreement,
the Escrow Agent will hold the Escrow Fund on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing
and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereby agree as follows: 
 SECTION 1.
Appointment and Agreement of Escrow Agent. Visa Inc. and Visa USA hereby appoint the Escrow Agent to serve as, and the Escrow Agent hereby agrees to act as, escrow agent upon the terms and conditions of this Agreement. 
 SECTION 2. Establishment of the Escrow Account. (a) The Escrow Agent has established Account No. [·] at [·], ABA No. [·] to hold the Escrow Fund (the “Escrow Account”). The Escrow Agent shall hold the Escrow Fund in escrow pursuant to this Agreement, in the Escrow Account.

 (b) Visa Inc. shall deliver (or cause to be delivered) a portion of the proceeds from the IPO and such proceeds, together with any other
moneys contributed to the Escrow Account in accordance with the terms of this Agreement, the Global Restructuring Agreement, the Amended and Restated Certificate of Incorporation of Visa Inc. and the Litigation Management Agreement, and any interest
or other amounts earned thereon, shall serve as the Escrow Fund. At the time of delivery thereof to the Escrow Agent, the funds to be deposited in the Escrow Account shall be free and clear of all encumbrances except as may be created by this
Agreement. 

 SECTION 3. Purpose of the Escrow Account. The Escrow Fund will be deposited with the Escrow Agent
and will be held by the Escrow Agent for purposes of funding the obligations described in the Loss Sharing Agreement, in accordance with the terms of this Agreement. 
 SECTION 4. Payments from the Escrow Account. (a) Prior to the Escrow Termination Date, any and all amounts that are to be distributed from the Escrow Account shall be released in accordance with the terms
of this Agreement and, except pursuant to Section 4(c), Section 4(d) or the immediately succeeding sentence, shall only be released in accordance with the terms of the Loss Sharing Agreement. If a Final Judgment is obtained against Visa
USA or Visa International (or, to the extent Visa Inc. incurs a Liability with respect to a Visa Litigation Obligation, Visa Inc.), or Visa USA and Visa International enter into any Approved Settlement (as defined in the Second Restated Visa USA
Certificate of Incorporation (the “VUSA Certificate”)) and, within fifteen (15) days after Visa Inc. or Visa USA make a demand therefor, the Litigation Committee has not taken all necessary actions to cause the distribution
from the Escrow Account of sufficient funds to fund the entire Visa Litigation Obligation in respect of such Final Judgment or Approved Settlement, as the case may be (or otherwise made arrangements satisfactory to Visa Inc. to fund such
obligations), Visa Inc. shall be entitled unilaterally to direct the Escrow Agent to distribute sufficient funds from the Escrow Account to fund the entire Visa Litigation Obligation in respect of such Final Judgment or Approved Settlement, as the
case may be, to the extent such obligations are past due or will become due within ninety (90) days after the giving of the notice containing such direction. 
 (b) In the event that funds are to be released from the Escrow Account, Visa Inc. and, unless Visa Inc. is entitled to act unilaterally without the consent of Visa USA pursuant to the last sentence of
Section 4(a), Visa USA shall provide written notice to the Escrow Agent to such effect. Within three (3) business days after receipt of such notice, the Escrow Agent shall transfer by wire transfer in immediately available funds, the
amounts to be released from the Escrow Amount as instructed by Visa Inc. and, to the extent required, Visa USA from time to time. 
 (c) In
the event that any funds remain in the Escrow Account after the Escrow Termination Date), Visa Inc. shall notify the Escrow Agent that the Escrow Termination Date has occurred. Within three (3) business days after its receipt of such notice,
the Escrow Agent shall transfer to Visa Inc., by wire transfer in immediately available funds, any and all amounts remaining in the Escrow Account, including any amounts as shall be received upon the liquidation of any investments made pursuant to
Section 8 hereof. 
 (d) All interest and other amounts earned on the Escrow Fund shall be incorporated into the Escrow Fund;
provided that the Escrow Agent shall, not less frequently than quarterly, distribute to Visa Inc. an amount equal to [·]% of such interest
and other amounts earned since the date of the immediately preceding distribution, if any, in order to provide Visa Inc. with an appropriate amount to pay Taxes in respect of such interest and other amounts (a “Tax Distribution”).

  

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 SECTION 5. Additions to the Escrow Account. Visa Inc. shall cause the net proceeds of any sale of
Loss Shares, after any offering expenses, to be deposited in the Escrow Account, whereupon such amounts shall become part of the Escrow Fund. 
 SECTION 6. Liquidation of the Funds in the Escrow Account. Whenever the Escrow Agent shall be required to make payment from the funds in the Escrow Account, the Escrow Agent shall pay such amounts by liquidating the investments held
in the Escrow Account to the extent necessary to pay such amounts in full and in cash. 
 SECTION 7. Maintenance of the Escrow Account;
Termination of the Escrow Account. The Escrow Agent shall continue to maintain the Escrow Account until the earlier of (a) the time at which there shall be no funds in the Escrow Account and (b) the termination of this Agreement.

 SECTION 8. Investment of Escrow Account. (a) The Escrow Agent shall invest and reinvest, upon written directions of Visa Inc.,
moneys on deposit in the Escrow Account; provided that such investments (i) shall be obligations of or guaranteed by the United States of America, in commercial paper obligations receiving the highest rating from either Moody’s
Investors Services, Inc. or Standard & Poor’s Corporation, or in certificates of deposit, bank repurchase agreements or bankers acceptances of domestic commercial banks with equity capital exceeding $500,000,000 (collectively
“Permitted Investments”) or in money market funds and (ii) shall have maturities that will not prevent or delay payments to be made pursuant to this Agreement and that do not exceed, in any event, ninety (90) days. In the
absence of duly authorized and complete directions regarding investment of cash held in the Escrow Account, the Escrow Agent shall automatically invest and reinvest the same in units of the money market funds identified on Schedule B attached hereto
and incorporated herein, which funds may be managed by an affiliate of the Escrow Agent. The Escrow Agent shall have no liability for any investment losses, including any losses on investments required to be liquidated prior to maturity in order to
make a payment required by this Agreement. 
 (b) The Escrow Agent shall have the power to sell or liquidate the foregoing investments
whenever the Escrow Agent shall be required to distribute funds from the Escrow Account pursuant to the terms of this Agreement or as otherwise contemplated in this Agreement. 
 SECTION 9. Assignment. This Agreement may not be assigned by operation of law or otherwise without the express written consent of the other
parties hereto (which consent may be granted or withheld in the sole discretion of such other parties). This Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their permitted assigns. 
 SECTION 10. Escrow Agent. (a) Except as expressly contemplated by this Agreement or by written instructions from Visa Inc. delivered in
accordance with the terms of this Agreement, the Escrow Agent shall not sell, transfer or otherwise dispose of in any manner all or any of the funds in the Escrow Account, except pursuant to an order of a court of competent jurisdiction. 

 

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 (b) The duties and obligations of the Escrow Agent shall be determined solely by this Agreement, and no
implied duties or obligations shall be read into this Agreement against the Escrow Agent. The Escrow Agent shall not be liable for any act done or omitted to be done in the absence of gross negligence, bad faith or willful misconduct. 
 (c) In the performance of its duties hereunder, the Escrow Agent shall be entitled to rely upon any document, instrument or signature believed by it in
good faith to be genuine and signed by any party hereto or an authorized officer or agent thereof, and shall not be required to investigate the truth or accuracy of any statement contained in any such document or instrument. The Escrow Agent may
assume that any Person purporting to give any notice in accordance with the provisions of this Agreement has been duly authorized to do so. 
 (d) The Escrow Agent shall not be liable for any error of judgment, or any action taken, suffered or omitted to be taken, hereunder except in the case of its gross negligence, bad faith or willful misconduct. The Escrow Agent may consult
with counsel of its own choice in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or its duties hereunder and it shall have full and complete authorization and protection for any action taken or
suffered by it hereunder in good faith and in accordance with the opinion and instructions of such counsel. 
 (e) Except as set forth in
Section 8, the Escrow Agent shall have no duty as to the collection or protection of the funds in the Escrow Accounts or income thereon, nor as to the preservation of any rights pertaining thereto, beyond the safe custody of the funds in the
Escrow Account and any such funds actually in its possession. 
 (f) As compensation for its services to be rendered under this Agreement,
for each year or any portion thereof, the Escrow Agent shall receive a fee in the amount specified in Schedule A to this Agreement and shall be reimbursed upon request for all expenses, disbursements and advances, including reasonable fees of
outside counsel, if any, incurred or made by it in connection with the preparation of this Agreement and the carrying out of its duties under this Agreement. All such fees and expenses shall be paid by means of a disbursement to the Escrow Agent out
of funds on deposit in the Escrow Account. 
 (g) Visa Inc. agrees to reimburse and indemnify the Escrow Agent for, and hold it harmless
against, any loss, liability or expense (other than taxes of Escrow Agent with respect to fees received by Escrow Agent under this Agreement), including, without limitation, reasonable attorneys’ fees, incurred in the absence of gross
negligence, bad faith or willful misconduct on the part of the Escrow Agent arising out of, or in connection with the acceptance of, or the performance of, its duties and obligations under this Agreement. 
 (h) The Escrow Agent may at any time resign by giving twenty (20) business days’ prior written notice of resignation to the Visa Inc. and Visa
USA. Visa Inc. and Visa USA may at any time jointly remove the Escrow Agent by giving ten (10) business days’ written notice signed by each of them to the Escrow Agent. If the Escrow Agent shall resign or be removed, a successor Escrow
Agent, which shall be a bank or trust company having its principal executive offices in the United States of America and assets in excess of $10 billion shall be designated by 

  

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Visa Inc. and Visa USA by written instrument executed by Visa Inc. and Visa USA and delivered to the Escrow Agent and to such successor Escrow Agent (the
“Designation Notice”) and, thereupon, the resignation or removal of the predecessor Escrow Agent shall become effective and such successor Escrow Agent, without any further act, deed or conveyance, shall succeed to all the rights
and obligations with respect to the securities, money and property held hereunder of such predecessor Escrow Agent, and such predecessor Escrow Agent shall, on the written request of Visa Inc., Visa USA and the successor Escrow Agent, deliver to
such successor Escrow Agent the funds in the Escrow Account and any other securities, money or property held by it pursuant to this Agreement within two (2) business days of the predecessor Escrow Agent’s receipt of such Designation
Notice. If no successor Escrow Agent shall have been appointed within twenty (20) business days of a notice of resignation by the Escrow Agent, the Escrow Agent’s sole responsibility shall thereafter be to hold the funds in the Escrow
Account and any other securities, money or property held by such Escrow Agent pursuant to this Agreement until the earlier of its receipt of designation of a successor Escrow Agent, a joint written instruction by Visa Inc. and Visa USA or
termination of this Agreement in accordance with its terms. 
 (i) The Escrow Agent does not have any interest in the funds in the Escrow
Account deposited hereunder but is serving as escrow holder only and having only possession thereof. Any payments of income from the funds in the Escrow Account shall be subject to withholding regulations then in force with respect to relevant
taxes. 
 (j) The Escrow Agent is authorized, for any securities at any time held hereunder, to register such securities in the name of its
nominees or the nominees of any securities depository, and such nominee(s) may sign the name of any of the parties hereto to whom or to which such securities belong and guarantee such signature in order to transfer securities or certify ownership
thereof to tax or other governmental authorities. 
 SECTION 11. Tax-Related Terms. (a) Visa Inc. and Visa USA agree that, for
tax reporting purposes, all interest or other income earned from the investment of the funds in the Escrow Account in any tax year shall be allocated to Visa Inc. 
 (b) Visa Inc. agrees to provide the Escrow Agent with a certified tax identification number by signing and returning a Form W-9 to the Escrow Agent prior to the execution of this Agreement by the Escrow Agent.

 (c) Visa Inc. agrees: (i) to assume any and all obligations imposed now or hereafter by any applicable tax law with respect to any
payment or distribution of the funds from the Escrow Account or performance of other activities under this Agreement, (ii) to instruct the Escrow Agent in writing with respect to the Escrow Agent’s responsibility for withholding and other
taxes, assessments or other governmental charges, and to instruct the Escrow Agent with respect to any certifications and governmental reporting that may be required under any Laws that may be applicable in connection with its acting as Escrow Agent
under this Agreement, and (iii) to indemnify and hold the Escrow Agent harmless from any liability or obligation on account of Taxes, assessments, additions for late payment, interest, penalties, expenses and other governmental charges that may
be assessed or asserted against the Escrow Agent in connection with or relating to any payment made under the terms of this Agreement, including without 

  

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limitation any liability for the withholding or deduction of (or the failure to withhold or deduct) the same, and any liability for failure to obtain proper
certifications or to report properly to governmental authorities in connection with this Agreement, including costs and expenses (including reasonable legal fees and expenses), interest and penalties in each case which are incurred without gross
negligence, bad faith or willful misconduct and excluding any liability or obligation of the Escrow Agent on account of taxes assessed or asserted with respect to fees received by the Escrow Agent hereunder. The foregoing indemnification and
agreement to hold harmless shall survive the termination of this Agreement and the resignation or removal of the Escrow Agent. 
 SECTION 12.
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by courier
service, by facsimile (with proof of receipt), or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a
notice given in accordance with this Section 12): 
  
  

					
	 (a)
	 	if to Visa Inc.:
		
		 	Visa Inc.
		 	Tel:	 	+1 [·]
		 	Fax:	 	+1 [·]
		
		 	with a copy, which shall not constitute notice, to:
		
		 	White & Case LLP
		 	1155 Avenue of the Americas
		 	New York, New York 10036
		 	Attention:	 	    Kevin Keogh
		 		 	    S. Ward Atterbury
		 	Tel:	 	+1 (212) 819-8200
		 	Fax:	 	+1 (212) 354-8113
		
	(b)	 	if to Visa USA:
		 	Tel:	 	+1 [·]
		 	Fax:	 	+1 [·]

  

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		 	with copies, which shall not constitute, notice to:
		
		 	Holme, Roberts & Owen LLP
		 	1700 Lincoln Street
		 	Suite 4100
		 	Denver, Colorado 80203-4541
		 	Attention:	 	    Dean Salter, Esq.
		 	Tel:	 	303-866-0245
		 	Fax:	 	303-866-0200
		
		 	and to
		
		 	The Litigation Committee
		 	c/o the General Counsel of Visa USA
		
	(c)	 	if to the Escrow Agent, to:
		
		 	[·]

 SECTION 13. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York applicable to contracts entered into and to be performed entirely within the State of New York. 
 SECTION 14. Amendments. This Agreement may not be amended or modified except (a) by an instrument in writing signed by, or on behalf of, Visa Inc., Visa USA and the Escrow Agent or (b) by a waiver in accordance with
Section 15 of this Agreement. Visa USA shall not amend or modify this Agreement without the consent of the Litigation Committee and any such amendment or modification shall state that such approval has been obtained. 
 SECTION 15. Waiver. Either Visa Inc. or Visa USA may (i) extend the time for the performance of any obligation or other act of any other
party hereto or (ii) waive compliance by any other party with any agreement or condition contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing signed by the party or parties to be bound
thereby. Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or a subsequent waiver of the same term or condition, or a waiver of any other term or condition, of this Agreement. The failure of any party to
assert any of its rights hereunder shall not constitute a waiver of any of such rights. Visa USA shall not extend the time for the performance of any obligation or other act or waive compliance with any agreement or condition contained herein
without the consent of the Litigation Committee and any such extension or waiver shall state that such approval has been obtained. 
 SECTION
16. Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so 

  

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long as the economic and legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any party.
Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as
possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the fullest extent possible. 
 SECTION 17. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject matter hereof
and supersedes all prior agreements and undertakings, both written and oral, among Visa Inc., Visa USA and the Escrow Agent with respect to the subject matter hereof. Notwithstanding the foregoing this Agreement shall not supersede the Transaction
Documents as to Visa USA and Visa Inc. 
 SECTION 18. No Third Party Beneficiaries. This Agreement is for the sole benefit of the
parties hereto and their permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement. 
 SECTION 19. Headings. The descriptive headings contained in this Agreement are included for convenience of
reference only and shall not affect in any way the meaning or interpretation of this Agreement. 
 SECTION 20. Counterparts. This
Agreement may be executed in one or more counterparts, and by different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which when taken together shall constitute one and the same
agreement. The exchange of copies of this Agreement and of signature pages by facsimile transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of an originally executed Agreement
for all purposes. Signatures of the parties transmitted by facsimile shall be deemed to be their original signatures for all purposes. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first
written above by their respective officers thereunto duly authorized. 
  

			
	VISA, INC.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	VISA USA INC.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	[ESCROW AGENT]
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signature page to Escrow Agreement] 

 SCHEDULE A TO ESCROW AGREEMENT 
 SCHEDULE OF FEES 
 [Escrow Agent] 
 to act as 
 Escrow Agent

  

			
	Total Fees (payable post-Closing):	  	$[•]

 Covers all fees in connection with this Escrow Agreement. 

 SCHEDULE B TO ESCROW AGREEMENT 
 [To Come From Escrow Agent]

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