Document:

Employment Agreement

 Exhibit 10.2 
 UMPQUA HOLDINGS CORPORATION 
 EMPLOYMENT AGREEMENT 
 FOR 
 DANIEL A. SULLIVAN

 Dated as of February 1, 2009 

 Table of Contents 
  

							
	 	  	 	  	Page
	 1.
	  	PURPOSE AND DURATION OF AGREEMENT	  	1
	 2.
	  	EMPLOYMENT	  	1
	 3.
	  	NO TERM OF EMPLOYMENT	  	1
	 4.
	  	DUTIES; POSITION	  	1
		  	4.1	  	Position	  	1
		  	4.2	  	Obligations of Officer	  	1
	 5.
	  	BASE COMPENSATION	  	2
	 6.
	  	TERMINATION	  	2
		  	6.1	  	For Cause	  	2
		  	6.2	  	Without Cause	  	2
		  	6.3	  	For Good Reason	  	2
		  	6.4	  	Death or Disability	  	2
		  	6.5	  	Separation of Service	  	2
	 7.
	  	DEFINITIONS	  	2
		  	7.1	  	Cause	  	2
		  	7.2	  	Good Reason	  	3
		  	7.3	  	Disability	  	3
		  	7.4	  	Change in Control	  	3
	 8.
	  	PAYMENT UPON TERMINATION	  	4
	 9.
	  	SEVERANCE BENEFIT	  	4
	 10.
	  	CHANGE IN CONTROL BENEFIT	  	4
	 11.
	  	CHANGE IN CONTROL RETENTION INCENTIVE	  	5
	 12.
	  	LIMITATION ON BENEFITS	  	5
		  	12.1	  	IRC 280G Adjustment	  	5
		  	12.2	  	Limitation on Severance or Change in Control Benefit	  	5
		  	12.3	  	IRC 409A	  	5
	 13.
	  	EXECUTIVE SEVERANCE PLAN	  	6
		  	13.1	  	In General	  	6
		  	13.2	  	Administration of Executive Severance Plan	  	6
		  	13.3	  	Claims Procedures	  	6
	 14.
	  	NONCOMPETITION	  	8
		  	14.1	  	Competition Restriction	  	8
		  	14.2	  	Consequence of Breach	  	8
		  	14.3	  	Subsequent Employer	  	8
	 15.
	  	NON-SOLICITATION	  	8
	 16.
	  	NONRAIDING OF EMPLOYEES	  	8
	 17.
	  	CONFIDENTIAL INFORMATION	  	9
	 18.
	  	REASONABLENESS OF RESTRICTION PERIOD; EQUITABLE RELIEF	  	9
	 19.
	  	DISPUTE RESOLUTION	  	9
		  	19.1	  	Arbitration	  	9
		  	19.2	  	Expenses/Attorneys’ Fees	  	10

  

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		  	19.3	  	Injunctive Relief	  	10
	 20.
	  	NOTICES	  	10
	 21.
	  	BENEFICIARIES	  	10
	 22.
	  	GENERAL PROVISIONS	  	11
		  	22.1	  	Governing Law	  	11
		  	22.2	  	Saving Provision	  	11
		  	22.3	  	Survival Provision	  	11
		  	22.4	  	Counterparts	  	11
		  	22.5	  	Entire Agreement	  	11
		  	22.6	  	Previous Agreements	  	11
		  	22.7	  	Waiver	  	12
		  	22.8	  	Assignment	  	12
	 23.
	  	ADVICE OF COUNSEL	  	12

  

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 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this “Agreement”) is by and between Umpqua Holdings Corporation (“Umpqua”) and Daniel A. Sullivan
(“Officer”), effective as of February 1, 2009. 
 1. PURPOSE AND DURATION OF AGREEMENT. The purpose of this Agreement
is to set forth the terms of Officer’s employment with Umpqua and to provide Officer benefits in circumstances where Officer’s employment is terminated or a Change in Control (defined below) occurs and to supersede and replace that certain
Terms of Employment and Severance Agreement dated as of September 15, 2003 (as amended by that certain Amendment to Terms of Employment and Severance Agreement dated January 5, 2005 and that certain Second Amendment to Terms of Employment
and Severance Agreement dated effective June 1, 2007) that would otherwise expire September 15, 2009. This Agreement, including the severance provisions governed by ERISA, shall expire on December 31, 2014. 
 2. EMPLOYMENT. Umpqua, either directly or through one of its wholly owned subsidiaries, employs the Officer and the Officer accepts that
employment on the terms and conditions contained in this Agreement. 
 3. NO TERM OF EMPLOYMENT. Notwithstanding the term of this
Agreement, Umpqua may terminate Officer’s employment at any time for any lawful reason or for no reason at all, subject to the provisions of this Agreement. 
 4. DUTIES; POSITION. 
 4.1 Position. Officer shall be employed as Executive
Vice President of Strategic Initiatives, and will perform such duties as may be designated by his direct supervisor (the “Supervisor”) or by Umpqua’s Chief Executive Officer. 
 4.2 Obligations of Officer. 
 (a) Officer agrees that to the best of Officer’s ability and experience, Officer will at all times loyally and conscientiously perform all of the duties and obligations required of Officer pursuant to the express
and implicit terms of this Agreement and as directed by Umpqua’s Chief Executive Officer or the Supervisor. 
 (b)
Officer shall devote Officer’s entire working time, attention and efforts to Umpqua’s business and affairs, shall faithfully and diligently serve Umpqua’s interests and shall not engage in any business or employment activity that is
not on Umpqua’s behalf (whether or not pursued for gain or profit) except for (a) activities approved in writing in advance by Umpqua and (b) passive investments that do not involve Officer providing any advice or services to the
businesses in which the investments are made. 
  

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 5. BASE COMPENSATION. For services performed under this Agreement, Officer shall be entitled to a
base salary of $17,500.00 per month ($210,000.00 on annualized basis) (“Base Salary”), which Umpqua may increase in its sole discretion, as well as perquisites provided to Umpqua’s officers. Officer shall be entitled to participate,
under the terms of the respective plans, in the bonus compensation plans, group health insurance, long-term disability insurance, as well as such other compensation or benefits as approved by the Board. Officer is entitled to four weeks vacation per
year. 
 6. TERMINATION. Officer’s employment may be terminated before the expiration of this Agreement as described in this
Section, in which event Officer’s compensation and benefits shall terminate except as otherwise provided in this Agreement. 
 6.1 For Cause. Upon Umpqua’s termination of Officer’s employment for Cause (as defined in Section 7.1 below) (“Termination For Cause”). 
 6.2 Without Cause. Upon Umpqua’s termination of Officer’s employment without Cause, with or without notice, at any time
in Umpqua’s sole discretion, for any reason (other than for Cause, death, or Disability) or for no reason (“Termination Without Cause”). A Change in Control does not in and of itself constitute Termination Without Cause. 

6.3 For Good Reason. Upon Officer’s termination of the employment for Good Reason (as defined in Section 7.2 below)
(“Termination For Good Reason”). 
 6.4 Death or Disability. Upon Officer’s death or Disability (as
defined in Section 7.3 below). 
 6.5 Separation of Service. For the purposes of this Agreement, the term
“termination” means a termination of employment that meets the definition of “separation of service” as defined in Section 409A of the Internal Revenue Code and regulations promulgated thereunder. 
 7. DEFINITIONS. 
 7.1
Cause. For the purposes of this Agreement, “Cause” for Officer’s termination will exist upon the occurrence of one or more of the following events: 
 (a) Dishonest or fraudulent conduct by Officer with respect to the performance of Officer’s duties with Umpqua; 
 (b) Conduct by Officer that materially discredits Umpqua or any of its subsidiaries or is materially detrimental to the reputation of
Umpqua or any of its subsidiaries, including but not limited to conviction or a plea of nolo contendere of Officer of a felony or crime involving moral turpitude; 
 (c) Officer’s willful misconduct or gross negligence in performance of Officer’s duties under this Agreement, including but not
limited to Officer’s refusal to comply in any material respect with the legal directives of the Board or the Supervisor, if such misconduct or negligence has not been remedied or is not being remedied to Umpqua’s reasonable satisfaction
within thirty (30) days after written notice, including a detailed description of the misconduct or negligence, has been delivered to Officer; 
  

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 (d) An order or directive from a state or federal banking regulatory agency requesting or
requiring removal of Officer or a finding by any such agency that Officer’s performance threatens the safety or soundness of Umpqua or any of its subsidiaries; or 
 (e) A material breach of Officer’s fiduciary duties to Umpqua if such breach has not been remedied or is not being remedied to
Umpqua’s reasonable satisfaction within thirty (30) days after written notice, including a detailed description of the breach, has been delivered to Officer. 
 7.2 Good Reason. For purposes of this Agreement, “Good Reason” for Officer’s termination of employment will exist
upon the occurrence of one or more of the following events, without Officer’s consent, if Officer has informed Umpqua in writing of the circumstances described below in this Section that could give rise to termination for Good Reason within
thirty (30) days of its occurrence and Umpqua has not removed the circumstances within thirty (30) days of the written notice: 
 (a) A material reduction of Officer’s Base Salary, unless the reduction is in connection with, and commensurate with, reductions in the salaries of all or substantially all senior officers of Umpqua; or

 (b) A requirement for Officer to relocate to a facility or location more than 30 miles from the location where Officer is
currently employed. 
 7.3 Disability. For purposes of this Agreement, “Disability” means (i) Officer
is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months; or
(ii) Officer is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits
for a period of not less than three months under an accident and health plan covering Umpqua employees. 
 7.4 Change in
Control. For purposes of this Agreement, a “Change in Control” shall be deemed to have occurred when any of the following events take place: 
 (a) Any person (including any individual or entity), or persons acting in concert, become(s) the beneficial owner of voting shares representing fifty percent (50%) or more of Umpqua; 
 (b) A majority of the Board is removed from office by a vote of Umpqua’s shareholders over the recommendation of the Board then
serving; or 
  

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 (c) Umpqua is a party to a plan of merger or plan of exchange and upon consummation of
such plan, the shareholders of Umpqua immediately prior to the transaction do not own or continue to own (i) at least forty percent (40%) of the shares of the surviving company (if the then current CEO of Umpqua continues as CEO of the
surviving organization), or (ii) at least a majority of the shares of the surviving organization (if the then current CEO of Umpqua does not continue as CEO of the surviving organization). 
 8. PAYMENT UPON TERMINATION. Upon termination of Officer’s employment for any of the reasons set forth in Section 6 above, Officer will
receive payment for all Base Salary and benefits earned as of the date of Officer’s termination (“Earned Compensation”), which shall be paid by the end of the business day following termination or sooner if required by applicable law.

 9. SEVERANCE BENEFIT. Subject to Section 12, in the event of Termination Without Cause or Termination for Good Reason, in
addition to receiving Earned Compensation, Officer will receive a severance benefit equal to the greater of: (i) nine months Base Salary, based on Officer’s Base Salary immediately prior to termination or (ii) two weeks salary for
every year of employment with Umpqua (the “Severance Benefit”). Subject to Section 12.3 below, the Severance Benefit shall be paid in equal installments over the number of months of continued Base Salary, starting on the next regular
payday following termination. Receipt of the Severance Benefit is conditioned on Officer having executed the Employment Separation Agreement and Release of Claims in substantially the form attached hereto as Exhibit A (the “Separation
Agreement”) and the revocation period having expired without Officer having revoked the Separation Agreement. Receipt and continued receipt of the Severance Benefit is further conditioned on Officer not being in violation of any material term
of this Agreement or in violation of any material term of the Separation Agreement. Officer shall not be required to mitigate the amount of any payments under this Section (whether by seeking new employment or otherwise) and no such payment shall be
reduced by earnings that Officer may receive from any other source. 
 10. CHANGE IN CONTROL BENEFIT. Subject to Section 12,
after announcement of a proposed Change in Control and for a period continuing for one year following a Change in Control, in the event of Termination Without Cause or Termination For Good Reason, instead of receiving the Severance Benefit set forth
in Section 9 above, Officer shall be entitled to receive 24 months Base Salary, based on Officer’s Base Salary just prior to the termination of employment, as well as 200% of the incentive compensation Officer received for services
performed in the previous year (the aforementioned Base Salary and incentive are collectively referred to as the “Change in Control Benefit”). Subject to Section 12.3 below, the Change in Control Benefit shall be paid in equal
installments over 24 months, starting on the next regular payday following termination. Receipt of the Change in Control Benefit is conditioned on Officer having executed the Separation Agreement in substantially the form attached hereto as Exhibit
A and the revocation period having expired without Officer having revoked the Separation Agreement. Receipt and continued receipt of the Change in Control Benefit is further conditioned on Officer not being in violation of any material term of this
Agreement or in violation of any material term of the Separation Agreement. Officer shall not be required to mitigate the amount of any payments under this Section (whether by seeking new employment or otherwise) and no such payment shall be reduced
by earnings that Officer may receive from any other source, provided, however, that the provisions of Section 14.2 related to forfeiture of payments under certain circumstances remain applicable. 
  

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 11. CHANGE IN CONTROL RETENTION INCENTIVE. If Officer remains employed for 12 months following a
Change in Control, Officer will receive twelve months Base Salary and 100% of the incentive compensation Officer received for services performed in the previous year (the aforementioned Base Salary and incentive are collectively referred to as the
“Retention Incentive”). The Retention Incentive shall be paid in equal installments over twelve months, starting on the next regular payday following the first anniversary of the Change in Control. Receipt of the Retention Incentive is
conditioned on Officer not being in violation of any material term of this Agreement. If Officer receives a benefit under this Section 11, such benefit shall cease when Officer begins to receive any benefit under Section 10. 
 12. LIMITATION ON BENEFITS. 
 12.1 IRC 280G Adjustment. If the benefit payments under this Agreement, either alone or together with other payments to which the Officer is entitled to receive from Umpqua, would constitute an “excess parachute payment” as
defined in Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), such benefit payments shall be reduced to the largest amount that will result in no portion of benefit payments under this Agreement being subject
to the excise tax imposed by Section 4999 of the Code. The determination of any reduction in the benefit payments pursuant to the foregoing provisions, shall be made by mutual agreement of Umpqua and Officer or if no agreement is possible, by
Umpqua’s accountants. 
 12.2 Limitation on Severance or Change in Control Benefit. Notwithstanding any other
provision in this Agreement, Umpqua shall make no payment of any benefit provided for herein to the extent that such payment would be prohibited by the provisions of Part 359 of the regulations of the Federal Deposit Insurance Corporation (the
“FDIC”) as the same may be amended from time to time, and if such payment is so prohibited, Umpqua shall use its best efforts to secure the consent of the FDIC or other applicable banking agencies to make such payments in the highest
amount permissible, up to the amount provided for in this Agreement. 
 12.3 IRC 409A. To the extent the Severance
Benefit or Change in Control Benefit is subject to Section 409A of the Code and Executive is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, commencement of payment of the Severance
Benefit shall be delayed for six (6) months following Executive’s termination of employment and the first installment payment made in the seventh month following termination of employment shall equal the aggregate installment payments
Executive would have received during the first six months of the Installment Period (the “Aggregate Payments”), plus the payment Executive is otherwise entitled to receive for the seventh month of the Installment Period. If Umpqua or
Officer believes, at any time, that this Agreement does not comply with Section 409A, it will promptly advise the other party and will negotiate reasonably and in good faith to amend the terms of the Agreement, if permitted under
Section 409A, with the most limited possible economic effect on Umpqua and Officer, such that it complies. 
  

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 13. EXECUTIVE SEVERANCE PLAN 
 13.1 In General. Those provisions of this Agreement (including this Section) related to the Severance Benefit set forth in
Section 9 and Change in Control Benefit set forth in Section 10 constitute part of the terms of the Umpqua Holdings Corporation Executive Severance Plan (the “Executive Severance Plan”) with respect to the Officer, and such terms
and the general terms of an executive severance plan, if any, established by Umpqua shall comprise the entirety of the Executive Severance Plan as it applies to the Officer. Umpqua intends for the Plan to be considered a welfare benefit plan within
the meaning of Section 3(1) of the Employee Retirement Income Security Act (“ERISA”), and a plan which is unfunded and maintained by Umpqua solely for the purpose of providing benefits for a select group of management or highly
compensated employees within the meaning of ERISA Regulation Section 2520.104-24. A copy of the Executive Severance Plan (if an executive severance plan separate from or in addition to the terms of this Section 13 is established) will be
furnished to the Officer upon request. 
 13.2 Administration of Executive Severance Plan. Umpqua’s Chief
Executive Officer and Human Resources Director are each plan administrators (the “Plan Administrator”) of the Executive Severance Plan and the Plan Administrator shall have the discretionary authority to administer and construe the terms
of the Executive Severance Plan, including the authority to decide if Officer is entitled to the Severance Benefit or Change in Control Benefit and the authority to determine if there is Termination For Cause or Termination For Good Reason.

 13.3 Claims Procedures. The Officer may file a claim for a payment under the Executive Severance Plan by filing a
written request for such a payment with the Plan Administrator. If the Plan Administrator prescribes a form for such a claim, the claim must be filed on such form. The claim should be sent to the attention of the Plan Administrator of the Executive
Severance Plan at the address set forth for Umpqua in Section 20. 
 If the Plan Administrator denies the claim, in
whole or in part, the Plan Administrator shall notify the Officer within 90 days of the Plan Administrator’s receipt of the claim, unless the Plan Administrator determines that special circumstances require an extension of time for processing
the claim. If the Plan Administrator determines that an extension of time is required, written notice of the extension shall be furnished to Officer prior to the termination of the initial 90-day period. Such extension notice shall indicate the
special circumstances and the date by which the Plan Administrator expects to issue a determination with respect to the claim. The period of the extension will not exceed 90 days beyond the termination of the original 90-day period. If the Plan
Administrator does not provide written notice, Officer may deem the claim denied and seek review according to the appeals procedures set forth below. 
 The notice of denial of Officer’s claim shall state: 
 a. the specific reasons for the
denial; 
 b. specific references to pertinent provisions of the Executive Severance Plan on which the denial was based;

  

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 c. a description of any additional material or information needed for Officer to perfect his or her claim
and an explanation of why the material or information is needed; and 
 d. a statement (1) that Officer may request a review upon
written application to the Plan Administrator, review or receive (free of charge) pertinent Plan documents and records, and submit issues and comments in writing, (2) that any appeal that Officer wishes to make of the adverse determination must
be in writing to the Plan Administrator within sixty (60) days after the Officer receives notice of denial of benefits, and (3) that Officer may bring a civil action under ERISA Section 502(a) following an adverse benefit
determination upon review. 
 The notice of denial of benefits shall specify that Officer must forward any appeal to the Plan Administrator
at the address provided in such notice. The notice may state that failure to appeal the action to the Plan Administrator in writing within the sixty (60) day period will render the determination final, binding and conclusive. 
 If Officer appeals to the Plan Administrator, Officer may submit in writing whatever issues and comments he or she believes to be pertinent. The Plan
Administrator shall reexamine all facts related to the appeal and make a final determination about whether the denial of benefits is justified under the circumstances. The Plan Administrator shall advise Officer in writing of: 
 a. its decision on appeal; 
 b. the specific reasons for the decision; 
 c. the specific provisions of the Plan on which
the decision is based; and 
 d. Officer’s right to receive, upon request and free of charge, reasonable access to, and
copies of, all relevant documents and records. 
 Notice of the Plan Administrator’s decision shall be given within sixty (60) days
of Officer’s written request for review, unless additional time is required due to special circumstances. In no event shall the Plan Administrator render a decision on an appeal later than one hundred twenty (120) days after receiving a
request for a review. If the Plan Administrator fails to provide a decision with respect to Officer’s appeal within the 60 (or, if applicable, 120) day period Officer may deem his or her appeal denied and may pursue the arbitration remedy set
forth below. 
 In the event that Officer fails to pursue his or her administrative remedies as set forth above within the specified periods,
he shall have no further right to the benefits subject to his or her claim and agrees by executing this Agreement that he or she shall have no right to pursue such claim in arbitration or in a court of law. 
  

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 For purposes of this Claims Procedure under the Executive Severance Plan, Officer may act through a
representative authorized in writing to act on his behalf, provided that such authorization is furnished to the Plan Administrator. 
 In the
event that Umpqua denies the Officer’s appeal of the denial of his or her claim, in whole or in part, Umpqua and Officer’s may agree to submit the Plan Administrator’s decision to binding arbitration in lieu of Officer’s right to
pursue his claim in any court of law. 
 14. NONCOMPETITION. 
 14.1 Competition Restriction. During Officer’s employment and for the period of time in which Officer is entitled to
payment of a Severance Benefit or Change in Control Benefit, Officer shall not engage in any activity as an officer, director, owner (except for an ownership of less than three percent (3%) of any publicly traded security), employee,
consultant, or otherwise of a financial services company with an office or doing business within 50 miles of any office or branch of Umpqua or of any of its subsidiaries in existence at the time of termination of Officer’s employment.

 14.2 Consequence of Breach. If Officer breaches the covenant not to compete in Section 14.1, Umpqua’s
sole remedy is that Officer shall forfeit any remaining payments under the Severance Benefit or Change in Control Benefit to which Officer is entitled under this Agreement. 
 14.3 Subsequent Employer Notification. Officer agrees to give Umpqua, at the time of termination of employment, a declaration
under penalty of perjury of the name of Officer’s new employer, if known, or if not known, that subsequent employer is not known. Officer further agrees to disclose to Umpqua, during the period of payment of any benefit under this Agreement,
the name of any subsequent employer, wherever located and regardless of whether such employer is a competitor of Umpqua. 
 15.
NON-SOLICITATION. For a period of two (2) years following termination of employment (the “Restriction Period”), Officer shall not solicit any customer of Umpqua or of any of its subsidiaries for services or products then
provided by Umpqua or any of its subsidiaries. For purposes of this Section, “customers” are defined as (a) all customers serviced by Umpqua or any of Umpqua’s subsidiaries at any time within 12 months before termination of
Officer’s employment, (b) all customers and potential customers whom Umpqua or any of Umpqua’s subsidiaries, with the knowledge or participation of Officer, actively solicited at any time within 12 months before termination of
Officer’s employment, and (c) all successors, owners, directors, partners and management personnel of the customers just described in (a) and (b). 
 16. NONRAIDING OF EMPLOYEES. Officer recognizes that Umpqua’s workforce is a vital part of its business; therefore, Officer agrees that for the Restriction Period, Officer will not to directly or
indirectly solicit any employee to leave his or her employment with Umpqua or any of Umpqua’s subsidiaries. This includes that Officer will not (a) disclose to any third party the names, backgrounds or qualifications of any Umpqua or any
of Umpqua subsidiary’s employees or otherwise identify them as potential candidates for employment, or (b) personally or through any other person approach, recruit, interview or otherwise solicit employees of Umpqua or any of Umpqua’s
subsidiaries to work for any other employer. For purposes of this Section, employees include all employees working for Umpqua or any of Umpqua’s subsidiaries at the time of termination of Officer’s employment. 
  

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 17. CONFIDENTIAL INFORMATION. The parties acknowledge that in the course of Officer’s duties,
Officer will have access to and become familiar with certain proprietary and confidential information of Umpqua and its subsidiaries not known by its actual or potential competitors. Officer acknowledges that such information constitutes valuable,
special, and unique assets of Umpqua’s business, even though such information may not be of a technical nature and may not be protected under trade secret or related laws. Officer agrees to hold in a fiduciary capacity and not use for
Officer’s benefit, nor reveal, communicate, or divulge during the period of Officer’s employment with Umpqua or at any time thereafter, and in any manner whatsoever, any such data and confidential information of any kind, nature, or
description concerning any matters affecting or relating to Umpqua’s business, its customers, or its services, including information developed by Officer, alone or with others, or entrusted to Umpqua by its customers or others, to any person,
firm, entity, or company other than Umpqua or persons, firms, entities, or companies designated by Umpqua. Officer agrees that all memoranda, notes, records, papers, customer files, and other documents, and all copies thereof relating to
Umpqua’s operations or business, or matters related to any of Umpqua’s customers, some of which may be prepared by Officer, and all objects associated therewith in any way obtained by Officer, shall be Umpqua’s property (“Umpqua
Property”). Upon termination or at Umpqua’s request, Officer shall promptly return all Umpqua Property to Umpqua. 
 18.
REASONABLENESS OF RESTRICTION PERIOD; EQUITABLE RELIEF. Officer acknowledges and agrees that the restrictive covenants in Sections 14, 15, 16, and 17 are fair and reasonable and are the result of negotiation between Umpqua and Officer (and
Officer’s counsel, if Officer has sought the benefit of counsel). Officer further acknowledges and agrees that the covenants and obligations in this Agreement relate to special, unique, and extraordinary matters and that a violation of any of
the terms of the covenants and obligations will cause irreparable injury to Umpqua, for which adequate remedies are not available at law. Therefore, Officer agrees that Umpqua shall be entitled to an injunction, restraining order, or such other
equitable relief as a court of competent jurisdiction may deem necessary or appropriate to restrain the Officer from committing any violation of the covenants and obligations set forth in Sections 14.3, 15, 16 and 17 of this Agreement. These
injunctive remedies are cumulative and are in addition to any other rights and remedies Umpqua may have at law or in equity. If Umpqua institutes an action to enforce the provisions hereof, Officer hereby waives the claim or defense that an adequate
remedy at law is available, and Officer agrees not to urge in any such action the claim or defense that an adequate remedy at law exists. 
 19. DISPUTE RESOLUTION. 
 19.1 Arbitration. Except where such matters are deemed governed by ERISA
and are the subject to Section 13 above, the parties agree to submit any dispute arising under this Agreement to final, binding, private arbitration in Portland, Oregon. The disputes subject to arbitration include not only disputes involving
the meaning or performance of the Agreement, but disputes about its negotiation, drafting, or execution. The dispute will be determined by a 

  

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single arbitrator and governed by then-existing rules of arbitration procedure in Multnomah County Circuit Court except as set forth herein. Instead of
filing of a civil complaint in Multnomah County Circuit Court, a party will commence the arbitration process by noticing the other party. The parties will choose an arbitrator who specializes in employment conflicts from the arbitration list for
Multnomah County Circuit Court. If the parties are unable to agree on an arbitrator within ten (10) days of receipt of the list of arbitrators, each party will select one attorney from the list, and those two attorneys shall select the
arbitrator from the list (with each of the two selecting attorneys then concluding their services and each being compensated by the party selecting each attorney, subject to recovery of such fees under Section 19.2). The arbitrator may charge
his or her standard arbitration fees rather than the fees prescribed in the Multnomah County Circuit Court arbitration procedures. The arbitrator will have full authority to determine all issues, including arbitrability, to award any remedy,
including permanent injunctive relief, and to determine any request for attorneys’ fees, costs and expenses in accordance with Section 19.2. There shall be no right of review in court. The arbitrator’s award may be reduced to final
judgment or decree in Multnomah County Circuit Court. 
 19.2 Expenses/Attorneys’ Fees. The prevailing party
shall be awarded all costs and expenses of the proceeding, including, but not limited to, attorneys’ fees, filing and service fees, witness fees, and arbitrators’ fees. If arbitration is commenced, the arbitrator will have full authority
and complete discretion to determine the “prevailing party” and the amount of costs and expenses to be awarded. 
 19.3 Injunctive Relief. Notwithstanding any other provision of this Agreement, an aggrieved party may seek a temporary restraining order or preliminary injunction in Multnomah County Circuit Court to preserve the status quo during
the arbitration proceeding, provided however, that the party seeking relief agrees that ultimate resolution of the dispute will still be determined through arbitration and not through court process. The filing of the court action for injunctive
relief shall not hinder or delay the arbitration process. 
 20. NOTICES. All notices, requests, demands, and other communications
provided for by this Agreement will be in writing and shall be deemed sufficient upon receipt, when delivered personally or by a nationally-recognized delivery service (such as Federal Express), or three (3) business days after being deposited
in the U.S. mail as certified mail, return receipt requested, with postage prepaid, if such notice is properly addressed. Unless otherwise changed in writing, notice shall be properly addressed to Officer if addressed to the address of Officer on
Umpqua’s books and records at the time of mailing of such notice, and properly addressed to Umpqua if addressed to Umpqua Holdings Corporation, One SW Columbia, Suite 1200, Portland, Oregon 97258, Attention: Chief Executive Officer. 

21. BENEFICIARIES. 
 21.1 Beneficiary Designations. The Officer shall designate a beneficiary by filing a written designation with Umpqua. The Officer may revoke or modify the designation at any time by filing a new designation. However,
designations will only be effective if signed by the Officer and received by Umpqua during the Officer’s lifetime. The Officer’s beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Officer or if
the Officer names a spouse as beneficiary and the marriage is subsequently dissolved. If the Officer dies without a valid beneficiary designation, all payments shall be made to the Officer’s estate. 
  

 10 

 21.2 Facility of Payment . If a benefit is payable to a minor, to a
person declared incompetent, or to a person incapable of handling the disposition of his or her property, Umpqua may pay such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or
incapable person. Umpqua may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Such distribution shall completely discharge Umpqua from all liability with respect to such
benefit. 
 22. GENERAL PROVISIONS. 
 22.1 Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by federal ERISA, as it relates to the Severance Benefit and Change in Control Benefit as
discussed in Section 13 above, and otherwise by the laws of the State of Oregon. 
 22.2 Saving Provision. If any
part of this Agreement is held to be unenforceable, it shall not affect any other part. If any part of this Agreement is held to be unenforceable as written, it shall be enforced to the maximum extent allowed by applicable law. 
 22.3 Survival Provision. If any benefits provided in Sections 9 or 10 of this Agreement are still owed, or claims pursuant to
Section 13 are still pending, at the time of termination of this Agreement, this Agreement shall continue in force, with respect to those obligations or claims, until such benefits are paid in full or claims are resolved in full. The
noncompetition, nonsolicitation, non-raiding, confidential information, and dispute resolution provisions of this Agreement shall survive after termination of this Agreement, and shall be enforceable regardless of any claim Officer may have against
Umpqua. 
 22.4 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which together will constitute one and the same instrument. 
 22.5 Entire Agreement. This
Agreement constitutes the sole agreement of the parties regarding Officer’s benefits in the event of termination or Change in Control and together with Umpqua’s employee handbook governs the terms of Officer’s employment. Where there
is a conflict between the employee handbook and this Agreement, the terms of this Agreement shall govern. 
 22.6 Previous
Agreements. This Agreement supersedes all prior oral and written agreements between the Officer and Umpqua, or any affiliates or representatives of Umpqua regarding the subject matters set forth herein. 
  

 11 

 22.7 Waiver/Amendment. No waiver of any provision of this Agreement shall be valid
unless in writing, signed by the party against whom the waiver is sought to be enforced. The waiver of any breach of this Agreement or failure to enforce any provision of this Agreement shall not waive any later breach. This Agreement may only be
amended by a writing signed by the parties. 
 22.8 Assignment. Officer shall not assign or transfer any of
Officer’s rights pursuant to this Agreement, wholly or partially, to any other person or to delegate the performance of its duties under the terms of this Agreement. The rights and obligations of Umpqua under this Agreement shall inure to the
benefit of and be binding in each and every respect upon the direct and indirect successors and assigns of Umpqua, regardless of the manner in which the successors or assigns succeed to the interests or assets of Umpqua. This Agreement shall not be
terminated by the voluntary or involuntary dissolution of Umpqua, by any merger, consolidation or acquisition where Umpqua is not the surviving corporation, by any transfer of all or substantially all of Umpqua’s assets, or by any other change
in Umpqua’s structure or the manner in which Umpqua’s business or assets are held. Officer’s employment shall not be deemed terminated upon the occurrence of one of the foregoing events. In the event of any merger, consolidation or
transfer of assets, this Agreement shall be binding upon and shall inure to the benefit of the surviving corporation or the corporation to which the assets are transferred 
 23 ADVICE OF COUNSEL. Officer acknowledges that, in executing this Agreement, Officer has had the opportunity to seek the advice of independent
legal counsel, and has read and understood all of the terms and provisions of this Agreement. This Agreement shall not be construed against any party by reason of the drafting or preparation hereof. 
  

			
	UMPQUA HOLDINGS CORPORATION
		
	By:	 	/s/ Raymond P. Davis
		 	Raymond P. Davis, Chief Executive Officer
	
	OFFICER
		
		 	/s/ Daniel A. Sullivan
		 	Daniel A. Sullivan

  

 12 

 Exhibit A 
 EMPLOYMENT SEPARATION AGREEMENT AND RELEASE OF CLAIMS 
 This is a confidential agreement (this
“Separation Agreement”) between you, _______________, and us, Umpqua Holdings Corporation, except to the extent Umpqua is required to disclose the terms of this agreement under applicable law. This Separation Agreement is dated for
reference purposes _____________, 20___, which is the date we delivered this Separation Agreement to you for your consideration. For purposes of this Separation Agreement Umpqua Holdings Corporation together with each of its subsidiaries or
affiliates is referred to as “Umpqua.” 
 1. Termination of Employment. Your employment terminates [or was terminated] on
_______________, 20___ (the “Separation Date”). 
 2. Payments. In exchange for your agreeing to the release of claims and
other terms in this Separation Agreement, we will pay you the Severance Benefit specified in Section 9 or the Change in Control Benefit specified in Section 10, as appropriate, of the Agreement between you and Umpqua dated
__________________ (the “Employment Agreement”) on the dates provided therein (or on such other date or dates as may be mutually agreed upon by you and Umpqua or our successor). Such provisions of the Employment Agreement are incorporated
herein by reference. You acknowledge that we are not obligated to make these payments to you unless you comply with the provisions in Sections 14 through 22 of the Employment Agreement, which is incorporated herein by reference and otherwise comply
with the material terms of the Employment Agreement and of this Separation Agreement. 
 3. COBRA Continuation Coverage. Your normal
employee participation in Umpqua’s group health coverage will terminate on the Separation Date. Continuation of group health coverage thereafter will be made available to you and your dependents pursuant to federal law (COBRA). Continuation of
group health coverage after the Separation Date is entirely at your expense, as provided under COBRA. 
 4. Termination of Benefits.
Except as provided in Section 3 above, your participation in all employee benefit plans and programs ended on the Separation Date. Your rights under any pension benefit or other plans in which you may have participated will be determined in
accordance with the written plan documents governing those plans. 
 5. Full Payment. You acknowledge having received full
payment of all compensation of any kind (including wages, salary, vacation, sick leave, commissions, bonuses and incentive compensation) that you earned as a result of your employment by us, except, if applicable, the Severance Benefit or the Change
in Control Benefit described above. 
 6. No Further Compensation. Any and all agreements to pay you bonuses or other incentive
compensation are terminated. You understand and agree that you have no right to receive any further payments for bonuses or other incentive compensation. We owe no further compensation or benefits of any kind, except as described in Section 2
above. 
 7. Release of Claims. 
 (a) You hereby release (i) Umpqua and its subsidiaries, affiliates, and benefit plans, (ii) each of Umpqua’s past and present shareholders, officers, directors, agents, employees, representatives,
administrators, fiduciaries and attorneys, and (iii) the predecessors, successors, transferees and assigns of each of the persons and entities described in this sentence, from any and all claims of any kind, known or unknown, that arose on or
before the date you signed this Separation Agreement. 
  

 1 

 (b) The claims you are releasing include, without limitation, claims of wrongful
termination, claims of constructive discharge, claims arising out of employment agreements, representations or policies related to your employment, claims arising under federal, state or local laws or ordinances prohibiting discrimination or
harassment or requiring accommodation on the basis of age, race, color, national origin, religion, sex, disability, marital status, sexual orientation or any other status, claims of failure to accommodate a disability or religious practice, claims
for violation of public policy, claims of retaliation, claims of failure to assist you in applying for future position openings, claims of failure to hire you for future position openings, claims for wages or compensation of any kind (including
overtime claims), claims of tortious interference with contract or expectancy, claims of fraud or negligent misrepresentation, claims of breach of privacy, defamation claims, claims of intentional or negligent infliction of emotional distress,
claims of unfair labor practices, claims arising out of any claimed right to stock or stock options, claims for attorneys’ fees or costs, and any other claims that are based on any legal obligations that arise out of or are related to your
employment relationship with us. 
 (c) You specifically waive any rights or claims that you may have under the Oregon Civil
Rights and Unlawful Employment Practices Statutes (ORS Chapter 659), the Oregon Wage and Hour Laws (ORS Chapter 652), the Civil Rights Act of 1964 (including Title VII of that Act), the Equal Pay Act of 1963, the Age Discrimination in Employment Act
of 1967 (ADEA), the Americans with Disabilities Act of 1990 (ADA), the Fair Labor Standards Act of 1938 (FLSA), the Family and Medical Leave Act of 1993 (FMLA), the Worker Adjustment and Retraining Notification Act (WARN), the Employee Retirement
Income Security Act of 1974 (ERISA), the National Labor Relations Act (NLRA), and all similar federal, state and local laws. 
 (d) You agree not to seek any personal recovery (of money damages, injunctive relief or otherwise) for the claims you are releasing in this Separation Agreement, either through any complaint to any governmental agency or otherwise. You
agree never to start any lawsuit or arbitration asserting any of the claims you are releasing in this Separation Agreement. You represent and warrant that you have not initiated any complaint, charge, lawsuit or arbitration involving any of the
claims you are releasing in this Separation Agreement. Should you apply for future employment with Umpqua, Umpqua has no obligation to consider you for future employment. 
 (e) You represent and warrant that you have all necessary authority to enter into this Separation Agreement (including, if you are
married, on behalf of your marital community) and that you have not transferred any interest in any claims to your spouse or to any third party. 
 (f) This Separation Agreement does not affect your rights, if any, to receive pension plan benefits, medical plan benefits, unemployment compensation benefits or workers’ compensation benefits. This Separation
Agreement also does not affect your rights, if any, under agreements, bylaw provisions, insurance or otherwise, to be indemnified, defended or held harmless in connection with claims that may be asserted against you by third parties. 
 (g) You understand that you are releasing potentially unknown claims, and that you have limited knowledge with respect to some of the
claims being released. You acknowledge that there is a risk that, after signing this Separation Agreement, you may learn information that might have affected your decision to enter into this Separation Agreement. You assume this risk and all other
risks of any mistake in entering into this Separation Agreement. You agree that this release is fairly and knowingly made. 
 (h) You are giving up all rights and claims of any kind, known or unknown, except for the rights specifically given to you in this Separation Agreement. 
  

 2 

 8. No Admission of Liability. Neither this Separation Agreement nor the payments made under this
Separation Agreement are an admission of liability or wrongdoing by Umpqua. 
 9. Umpqua Materials. You represent and warrant that you
have, or no later than the Separation Date will have, returned all keys, credit cards, documents and other materials that belong to us, including but not limited to Umpqua Property, as defined in Section 17 of the Employment Agreement, which
definition is incorporated herein by reference. 
 10. Nondisclosure Agreement. You will comply with the covenant regarding
confidential information in Section 17 of the Employment Agreement, which covenant is incorporated herein by reference. 
 11. No
Disparagement. You may not disparage Umpqua or Umpqua’s business or products, and may not encourage any third parties to sue Umpqua. 
 12. Cooperation Regarding Other Claims. If any claim is asserted by or against Umpqua as to which you have relevant knowledge, you will reasonably cooperate with us in the prosecution or defense of that claim, including by
providing truthful information and testimony as reasonably requested by us. 
 13. Noncompetition; Nonsolicitation; No interference.
During the Restriction Period, as defined in Section 15 of the Employment Agreement, you will comply with Sections 14 through 22 of the Employment Agreement, incorporated herein by reference and Umpqua will have the right to enforce those
provisions under the terms of Section 18 of the Employment Agreement, incorporated herein by reference. After the Restriction Period, you will not, apart from good faith competition, interfere with Umpqua’s relationships with customers,
employees, vendors, or others. 
 14. Independent Legal Counsel. You are advised and encouraged to consult with an attorney before
signing this Separation Agreement. You acknowledge that you have had an adequate opportunity to do so. 
 15. Consideration Period.
You have 21 days from the date this Separation Agreement is given to you to consider this Separation Agreement before signing it. You may use as much or as little of this 21-day period as you wish before signing. If you do not sign and return
this Separation Agreement within this 21-day period, you will not be eligible to receive the benefits described in this Separation Agreement. 
 16. Revocation Period and Effective Date. You have 7 calendar days after signing this Separation Agreement to revoke it. To revoke this Separation Agreement after signing it, you must deliver a written notice of revocation to
Umpqua’s Chief Executive Officer before the 7-day period expires. This Separation Agreement shall not become effective until the 8th calendar day after you sign it. If you revoke this Separation Agreement it will not become effective or
enforceable and you will not be entitled to the benefits described in this Separation Agreement. 
 17. Governing Law. This Separation
Agreement is governed by the laws of the State of Oregon that apply to contracts executed and to be performed entirely within the State of Oregon. 
 18. Dispute Resolution. 
 (a) Except where such matters are deemed governed by ERISA or are the
subject to Section 7 above, the parties agree to submit any dispute arising under this Separation Agreement to final, binding, private arbitration in Portland, Oregon. The disputes subject to arbitration include not only disputes involving the
meaning or performance of the Separation Agreement, but disputes about its 

  

 3 

 
negotiation, drafting, or execution. The dispute will be determined by a single arbitrator and governed by the then-existing rules of arbitration procedure
in Multnomah County Circuit Court except as set forth herein. Instead of filing of a civil complaint in Multnomah County Circuit Court, a party will commence the arbitration process by noticing the other party. The parties will choose an arbitrator
who specializes in employment conflicts from the arbitration list for Multnomah County Circuit Court. If the parties are unable to agree on an arbitrator within ten (10) days of receipt of the list of arbitrators, each party will select one
attorney from the list, and those two attorneys shall select the arbitrator from the list (with each of the two selecting attorneys then concluding their services and each being compensated by the party selecting each attorney, subject to recovery
of such fees under subsection (b) of this Section). The arbitrator may charge his or her standard arbitration fees rather than the fees prescribed in the Multnomah County Circuit Court arbitration procedures. The arbitrator will have full
authority to determine all issues, including arbitrability, to award any remedy, including permanent injunctive relief, and to determine any request for attorneys’ fees, costs and expenses in accordance with subsection (b) of this Section.
There shall be no right of review in court. The arbitrator’s award may be reduced to final judgment or decree in Multnomah County Circuit Court. 
 (b) The prevailing party shall be awarded all costs and expenses of the proceeding, including, but not limited to, attorneys’ fees, filing and service fees, witness fees, and arbitrators’ fees. If
arbitration is commenced, the arbitrator will have full authority and complete discretion to determine the “prevailing party” and the amount of costs and expenses to be awarded. 
 (c) Notwithstanding any other provision of this Separation Agreement, an aggrieved party may seek a temporary restraining order or
preliminary injunction in Multnomah County Circuit Court to preserve the status quo during the arbitration proceeding, provided however, that the party seeking relief agrees that ultimate resolution of the dispute will still be determined through
arbitration and not through court process. The filing of the court action for injunctive relief shall not hinder or delay the arbitration process. 
 19. Saving Provision. If any part of this Separation Agreement is held to be unenforceable, it shall not affect any other part. If any part of this Separation Agreement is held to be unenforceable as written, it shall be
enforced to the maximum extent allowed by applicable law. 
 20. Final and Complete Agreement. Except for the Employment
Agreement to the extent it is expressly incorporated herein by reference, this Separation Agreement is the final and complete expression of all agreements between us on all subjects and supersedes and replaces all prior discussions, representations,
agreements, policies and practices. You acknowledge you are not signing this Separation Agreement relying on anything not set out herein. 
  

			
	Umpqua Holdings Corporation
		
	By:	 	 
	Title:	 	

 I, the undersigned, having been advised to consult with an attorney, hereby agree to be bound by this
Separation Agreement and confirm that I have read and understood each part of it. 
  

	
	  
	
	  
	Date

  

 4 

 BENEFICIARY DESIGNATION 
 for 
 UMPQUA HOLDINGS CORPORATION 
 EMPLOYMENT AGREEMENT 
 I designate the following as
beneficiary of any payment or other benefits under my Employment Agreement payable following my death: 
 Primary:
___________________________________________________________________________ 
 Contingent:
___________________________________________________________________________ 
  

	Note:	To name a trust as beneficiary, please provide the name of the trustee(s) and the exact name and date of the trust agreement. 

 I understand that I may change these beneficiary designations by filing a new written designation with Umpqua. I further understand that the designations will be
automatically revoked if the beneficiary predeceases me, or, if I have named my spouse as beneficiary and our marriage is subsequently dissolved. 
 Signature: ______________________________ 
 Printed Name: ___________________________ 
 Date: _____________________________ 
 Received by Umpqua this _________ day
of ___________________, ______________. 
  

			
	By:	 	 
	Name:	 	 
	Title:The Dun & Bradstreet Corporation 2009 Stock Incentive Plan

 Exhibit 10.1 
 THE DUN & BRADSTREET CORPORATION 
 2009 STOCK INCENTIVE PLAN 
 1. Purposes of the Plan 
 The purposes of the Plan are
(a) to promote the long-term success of the Company and its Subsidiaries and Affiliates by providing Eligible Individuals with incentives to contribute to the long-term growth and profitability of the Company, as well as through the grant of
equity-based awards and (b) to assist the Company in attracting, retaining and motivating highly qualified individuals who are in a position to make significant contributions to the Company and its Subsidiaries and Affiliates. 
 Upon the Effective Date, no further awards will be granted under the Prior Plan. 
 2. Definitions and Rules of Construction 
 (a) Definitions. For purposes of the Plan, the
following capitalized words shall have the meanings set forth below: 
 “Affiliate” means any Parent
or Subsidiary and any person that directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the Company or any other entity designated by the Board in which the Company or a Subsidiary or
Affiliate has an interest. 
 “Applicable Law” means any and all applicable laws, rules, regulations
and other legal requirements, including, as applicable, Section 16(b) of the Exchange Act, Section 162(m) and Section 409A of the Code, and the listing standards of the NYSE. 
 “Award” means an Option, Restricted Stock, Restricted Stock Unit, Stock Appreciation Right, Performance Stock,
Performance Stock Unit, Performance Award or Other Award granted by the Committee pursuant to the terms of the Plan. 
 “Award Document” means an agreement, certificate or other type or form of document or documentation approved by the Committee that sets forth the terms and conditions of an Award. An Award Document may be in written,
electronic or other media, may be limited to a notation on the books and records of the Company and, unless the Committee requires otherwise, need not be signed by a representative of the Company or a Participant. 
 “Beneficial Owner” and “Beneficially Owned” have the meaning set forth in Rule 13d-3 under the Exchange
Act. 
 “Board” means the Board of Directors of the Company, as constituted from time to time.

 “Change in Control” means the occurrence of any of the following: 
  

	 	(i)	any one “Person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act), or more than one Person acting as a group (including owners of a corporation that
enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company, but not including Persons solely because they purchase or own stock of the Company at the same time or as a result of the same
public offering), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person or Persons) ownership of stock of the Company possessing thirty percent (30%) or more of the total voting
power of the Company’s stock, but only if such Person or group is not considered to effectively control the Company (within the meaning of Section 1.409A-3(i)(5)(vi) of the Treasury Regulations) prior to such acquisition;

  

 1 

	 	(ii)	a majority of members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board before
the date of the appointment or election; 

  

	 	(iii)	any one Person, or more than one Person acting as a group (including owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar
business transaction with the Company, but not including Persons solely because they purchase or own stock of the Company at the same time or as a result of the same public offering), acquires ownership of stock of the Company that, together with
stock held by such Person or group, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company, but only if such Person or group was not considered to own more than fifty percent (50%) of the total
voting power of the stock of the Company prior to such acquisition; or 

  

	 	(iv)	any one Person, or more than one Person acting as a group (including owners of a corporation that enters into a merger, consolidation, purchase or acquisition of assets, or similar
business transaction with the Company, but not including Persons solely because they purchase assets of the Company at the same time), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such
Person or group) assets from the Company that have a total gross fair market value (determined without regard to any liabilities associated with such assets) equal to or more than ninety percent (90%) of the total gross fair market value of all
of the assets of the Company (determined without regard to any liabilities associated with such assets) immediately before such acquisition or acquisitions, except where the assets are transferred to (i) a shareholder of the Company
(immediately before the asset transfer) in exchange for or with respect to its stock, (ii) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company immediately
after the asset transfer, (iii) a Person, or more than one Person acting as a group, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company immediately
after the asset transfer, or (iv) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in (iii), above, immediately after the asset transfer.

 Notwithstanding the foregoing, with respect to an Award that is subject to Section 409A of the Code and
the payment or settlement of the Award will accelerate upon a Change in Control, no event set forth herein will constitute a Change in Control for purposes of the Plan or any Award Document unless such event also constitutes a “change in
control event” as that terms is defined for the purposes of Section 409A of the Code. 
 “Change in
Control Price” means the highest price paid for a Share in a Change in Control transaction. 
 “Code” means the Internal Revenue Code of 1986, as amended, and the applicable regulations, rulings and guidance issued thereunder. 
 “Committee” means the Compensation & Benefits Committee of the Board, any successor committee or any
other committee appointed from time to time by the Board to administer the Plan that meets the requirements of Section 162(m) of the Code, Section 16(b) of the Exchange Act and the applicable rules and listing standards of the NYSE.
However, if the Committee is found not to have qualified under the requirements of Section 162(m) of the Code and Section 16(b) of the Exchange Act, the Awards granted and other actions taken by the Committee shall not be invalidated by
reason of the Committee’s failure to so qualify. 
 “Common Stock” means the common stock of the
Company, par value $0.01 per share, or another class of share or other securities that may be applicable in accordance with Section 13. 
 “Company” means The Dun & Bradstreet Corporation or any successor to all or substantially all of the Company’s business that adopts the Plan. 
  

 2 

 “Disability” means, except as otherwise set forth in an Award
Document, the inability to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment which constitutes a permanent and total disability, as defined in Section 22(e)(3) of the Code (or any
successor section thereto). The determination whether a Participant has suffered a Disability shall be made by the Committee based upon such evidence as it deems necessary and appropriate. A Participant shall not be considered disabled unless he or
she furnishes such medical or other evidence of the existence of the Disability as the Committee, in its sole discretion, may require. 
 “EBITDA” means earnings before interest, taxes, depreciation and amortization. 
 “Effective Date” means the date on which the Plan is approved by shareholders of the Company. 
 “Eligible Individuals” means the individuals described in Section 4(a) of the Plan who are eligible for Awards under the Plan. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “Fair Market Value” means on a given date, the arithmetic mean of the high and low
per-share prices of the Shares as reported on the New York Stock Exchange. If no sale of Shares shall have been reported on the New York Stock Exchange on such date, then the immediately preceding date on which sales of the Shares have been so
reported or quoted shall be used. If there is no market on which the Shares are regularly quoted, the Fair Market Value shall be the value established by the Committee in good faith in accordance with Section 1.409A-1(b)(5)(iv)(B) of the
Treasury Regulations (or any similar or successor provision(s)). 
 “Incentive Stock Option” means an
Option that is intended to comply with the requirements of Section 422 of the Code or any successor provision. 
 “Nonqualified Stock Option” means an Option that is not intended to comply with the requirements of Section 422 of the Code or any successor provision. 
 “NYSE” means the New York Stock Exchange. 
 “Option” means an Incentive Stock Option or Nonqualified Stock Option granted pursuant to Section 7.

 “Other Award” means any form of equity-based or equity-related award other than an Option, Stock
Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Stock, Performance Stock Unit or Performance Award, granted pursuant to Section 11. 
 “Parent” means a corporation that owns or beneficially owns a majority of the outstanding voting stock or voting
power of the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Parent shall have the meaning set forth in Section 424(e) of the Code. 
 “Participant” means an Eligible Individual who has been granted an Award under the Plan. 
 “Performance Award” means a right to receive a cash Target Payment in the future granted pursuant to
Section 10(c). 
 “Performance Goal” means the performance measures established by the Committee,
from among the performance measures provided in Section 6(h), and set forth in the applicable Award Document. 
 “Performance Period” means the period established by the Committee and set forth in the applicable Award Document over which Performance Goals are measured. 
 “Performance Stock” means a Target Number of Shares granted pursuant to Section 10(a). 
 “Performance Stock Unit” means a right to receive a Target Number of Shares (or cash, if applicable) in the future
granted pursuant to Section 10(b). 
  

 3 

 “Permitted Transferee” means (i) a Participant’s family
member, (ii) one or more trusts established in whole or in part for the benefit of one or more of the Participant’s family members, (iii) one or more entities that are beneficially owned in whole or in part by one or more of the
Participant’s family members, or (iv) a charitable or not-for-profit organization. 
 “Person” means any person, entity or “group” within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, except for (i) the Company or any of its Subsidiaries or
Affiliates, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily holding securities of the Company pursuant to an offering of the
securities, (iv) a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock of the Company, or (v) a person or group as used in Rule 13d-1(b) under the
Exchange Act. 
 “Plan” means The Dun & Bradstreet Corporation 2009 Stock Incentive Plan, as
amended or restated from time to time. 
 “Plan Limit” means the maximum aggregate number of Shares
that may be issued for all purposes under the Plan as set forth in Section 5(a). 
 “Prior Plan”
means The Dun & Bradstreet Corporation 2000 Stock Incentive Plan, as amended. 
 “Restricted
Stock” means one or more Shares granted or sold pursuant to Section 8(a). 
 “Restricted Stock
Unit” means a right to receive one or more Shares (or cash, if applicable) in the future granted pursuant to Section 8(b). 
 “Retirement” means, except as otherwise set forth in an Award Document, termination of employment with the Company or an Affiliate after such Participant has attained age 55 and five years of
service with the Company; or, with the prior written consent of the Committee that such termination be treated as a Retirement hereunder, termination of employment under other circumstances. 
 “Section 409A Award” means an Award that provides for a “deferral of compensation” within the meaning of
Section 409A of the Code. 
 “Section 162(m) Award” means an Award that is intended to be
“qualified performance-based compensation” within the meaning of Section 162(m) of the Code. 
 “Shares” means shares of Common Stock, as may be adjusted pursuant to Section 13(b). 
 “Stock Appreciation Right” means a right to receive all or some portion of the appreciation on Shares granted pursuant to Section 9. 
 “Subsidiary” means (i) a corporation or other entity with respect to which the Company, directly or
indirectly, has the power, whether through the ownership of voting securities, by contract or otherwise, to elect at least a majority of the members of the board of directors or analogous governing body, or (ii) any other corporation or other
entity in which the Company, directly or indirectly, has an equity or similar interest and that the Committee designates as a Subsidiary for purposes of the Plan. For purposes of determining eligibility for the grant of Incentive Stock Options under
the Plan, the term “Subsidiary” shall be defined in the manner required by Section 424(f) of the Code. 
 “Substitute Award” means any Award granted upon assumption of, or in substitution or exchange for, outstanding employee equity awards previously granted by a company or other entity acquired by the Company or with
which the Company combines pursuant to the terms of an equity compensation plan that was approved by the shareholders of the company or other entity. 
 “Target Number” or “Target Payment” means the target number of Shares or cash payment established by the Committee and set forth in the applicable Award Document.

 (b) Rules of Construction. The masculine pronoun shall be deemed to include the feminine pronoun, and the singular form of a word
shall be deemed to include the plural form, unless the context requires otherwise. Unless the text indicates otherwise, references to sections are to sections of the Plan. 
  

 4 

 3. Administration 
 (a) Committee. The Plan shall be administered by the Committee. The Committee shall have full power and authority, subject to the express provisions of the Plan, to: select the Participants from the Eligible
Individuals; grant Awards in accordance with the Plan; determine the number of Shares subject to each Award or the cash amount payable in connection with an Award; determine the terms and conditions of each Award, including, without
limitation, those related to term, permissible methods of exercise, vesting, cancellation, payment, settlement, exercisability, Performance Periods, Performance Goals, and the effect, if any, of a Participant’s termination of employment with
the Company or any of its Subsidiaries or Affiliates or, subject to Section 6(d), a Change in Control of the Company; subject to Section 16 and Section 17(e), amend the terms and conditions of an Award after grant; specify and approve
the provisions of the Award Documents delivered to Participants in connection with their Awards; construe and interpret any Award Document delivered under the Plan; make factual determinations in connection with the administration or interpretation
of the Plan; adopt, prescribe, amend, waive and rescind administrative regulations, rules and procedures relating to the Plan; employ legal counsel, independent auditors and consultants as it deems desirable for the administration of the Plan and
rely upon any advice, opinion or computation received from them; vary the terms of Awards to take account of tax and securities law and other regulatory requirements or to procure favorable tax treatment for Participants; correct any defects, supply
any omission or reconcile any inconsistency in any Award Document or the Plan; and make all other determinations and take any other action desirable or necessary to interpret, construe or implement properly the provisions of the Plan or any
Award Document. 
 (b) Plan Construction and Interpretation. The Committee shall have full power and authority, subject to the express
provisions of the Plan, to construe and interpret the Plan. 
 (c) Determinations of Committee Final and Binding. All determinations
by the Committee in carrying out and administering the Plan and in construing and interpreting the Plan shall be made in the Committee’s sole discretion and shall be final, binding and conclusive for all purposes and upon all interested
persons. 
 (d) Delegation of Authority. To the extent not prohibited by Applicable Law, the Committee may, from time to time,
delegate some or all of its authority under the Plan to a subcommittee or subcommittees of the Committee or other persons or groups of persons as it deems necessary, appropriate or advisable under conditions or limitations that it may set at or
after the time of the delegation. However, the Committee may not delegate its authority to make Awards to employees (A) who are subject on the date of the Award to the reporting rules under Section 16(a) of the Exchange Act or
(B) whose compensation for the fiscal year may be subject to the limit on deductible compensation pursuant to Section 162(m) of the Code. For purposes of the Plan, reference to the Committee shall be deemed to refer to any subcommittee,
subcommittees, or other persons or groups of persons to whom the Committee delegates authority pursuant to this Section 3(d). 
 (e)
Liability of Committee. Subject to Applicable Law: (i) no member of the Board or Committee (or its delegates) shall be liable for any good faith action or determination made in connection with the operation, administration or
interpretation of the Plan and (ii) the members of the Board or the Committee (and its delegates) shall be entitled to indemnification and reimbursement in the manner provided in the Company’s Certificate of Incorporation and Bylaws, as
they may be amended from time to time. In the performance of its responsibilities with respect to the Plan, the Committee shall be entitled to rely upon, and no member of the Committee shall be liable for any action taken or not taken in reliance
upon, information and/or advice furnished by the Company’s officers or employees, the Company’s accountants, the Company’s counsel and any other party that the Committee deems necessary. 
 (f) Action by the Board. Anything in the Plan to the contrary notwithstanding, subject to Applicable Law, any authority or responsibility that,
under the terms of the Plan, may be exercised by the Committee may alternatively be exercised by the Board. 
  

 5 

 4. Eligibility 
 (a) Eligible Individuals. Awards may be granted to employees of the Company or any of its Subsidiaries and Affiliates. The Committee shall have the authority to select the persons among Eligible Individuals to
whom Awards may be granted and to determine the type, number and terms of Awards to be granted to each Participant. 
 (b) Grants to
Participants. The Committee shall have no obligation to grant any Eligible Individual an Award or to designate an Eligible Individual as a Participant solely by reason of the Eligible Individual having received a prior Award or having been
previously designated as a Participant. The Committee may grant more than one Award to a Participant and may designate an Eligible Individual as a Participant for overlapping periods of time. 
 5. Shares Subject to the Plan 
 (a) Plan Limit.
Subject to adjustment in accordance with Section 13, the maximum aggregate number of Shares that may be issued for all purposes under the Plan shall be 5,400,000 plus any Shares that are available for issuance under the Prior Plan that are not
subject to outstanding awards as of the Effective Date or that become available for issuance upon forfeiture, cancellation or expiration of awards granted under the Prior Plan without having been exercised or settled in Shares. Shares to be issued
under the Plan may be authorized and unissued Shares, issued Shares that have been reacquired by the Company (in the open market or in private transactions) and that are being held in treasury, or a combination of issued and unissued Shares. All of
the Shares subject to the Plan Limit may be issued pursuant to Incentive Stock Options, except that in calculating the number of Shares that remain available for Awards of Incentive Stock Options, the rules set forth in this Section 5 shall not
apply to the extent not permitted under Section 422 of the Code. 
 (b) Rules Applicable to Determining Shares Available for
Issuance. The number of Shares remaining available for issuance shall be reduced by the number of Shares subject to outstanding Awards and, for Awards that are not denominated by Shares, by the number of Shares actually delivered upon settlement
or payment of the Award; provided, however, that, notwithstanding the above, the number of Shares available for issuance under the Plan shall be reduced by 2.3 Shares for every one Share issued in respect of an award of (i) Restricted Stock,
(ii) Restricted Stock Units, (iii) Performance Stock, (iv) Performance Stock Units or (v) Other Awards which are not subject to payment of an exercise or purchase price. For purposes of determining the number of Shares that
remain available for issuance under the Plan, the number of Shares corresponding to Awards under the Plan that are forfeited or cancelled or otherwise expire for any reason without having been exercised or settled or that is settled through issuance
of consideration other than Shares (including, without limitation, cash) shall be added back to the Plan Limit and again be available for the grant of Awards. The preceding sentence shall not be applicable with respect to (i) the cancellation
of a Stock Appreciation Right granted in tandem with an Option upon the exercise of the Option or (ii) the cancellation of an Option granted in tandem with a Stock Appreciation Right upon the exercise of the Stock Appreciation Right.
Furthermore, Shares subject to an Award under the Plan may not again be made available for issuance under the Plan if such Shares were: (i) Shares that were subject to an Option or a stock-settled Stock Appreciation Right and were not issued
upon the net settlement or net exercise of such Option or Stock Appreciation Right, (ii) Shares delivered to or withheld by the Company to pay the exercise price of an Option or the withholding taxes related to any Award, or (iii) Shares
repurchased on the open market with the proceeds of an Option exercise. 
 (c) Special Limits. Anything to the contrary in
Section 5(a) above notwithstanding, but subject to adjustment under Section 13, the following special limits shall apply to Shares available for Awards under the Plan: the maximum number of Shares that may be issued pursuant to Options and
Stock Appreciation Rights granted to any Eligible Individual in any calendar year shall equal 700,000 Shares; and the maximum amount of Awards (other than those Awards set forth in Section 5(c)(i)) that may be awarded to any Eligible Individual
in any calendar year is $5,000,000 measured as of the date of grant (with respect to Awards denominated in cash) or 700,000 Shares measured as of the date of grant (with respect to Awards denominated in Shares). 
  

 6 

 (d) Exceptions. Any Shares underlying Substitute Awards shall not be counted against the number of
Shares remaining for issuance and shall not be subject to Section 5(c). 
 6. Awards in General 
 (a) Types of Awards. Awards under the Plan may consist of Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance
Stock, Performance Stock Units, Performance Awards and Other Awards. Any Award described in Section 7 through Section 11 may be granted singly or in combination or tandem with any other Award, as the Committee may determine. Awards under
the Plan may be made in combination with, in replacement of, or as alternatives to awards or rights under any other compensation or benefit plan of the Company, including the plan of any acquired entity. 
 (b) Terms Set Forth in Award Document. The terms and conditions of each Award shall be set forth in an Award Document in a form approved by the
Committee for the Award. The Award Document shall contain terms and conditions that are consistent with the Plan. Notwithstanding the foregoing, and subject to Section 409A(a)(3) of the Code and other Applicable Law, the Committee may
accelerate (i) the vesting or payment of any Award, (ii) the lapse of restrictions on any Award or (iii) the date on which any Award first becomes exercisable. The terms of Awards may vary among Participants, and the Plan does not
impose upon the Committee any requirement to make Awards subject to uniform terms. Accordingly, the terms of individual Award Documents may vary. 
 (c) Termination of Employment. The Committee shall have the discretion to specify at or after the time of grant of an Award the provisions governing the disposition of an Award in the event of a Participant’s termination of
employment with the Company or any of its Subsidiaries or Affiliates. Subject to Section 409A(a)(3) of the Code and other Applicable Law, in connection with a Participant’s termination of employment, the Committee shall have the discretion
to accelerate the vesting, exercisability or settlement of, eliminate the restrictions and conditions applicable to, or extend the post-termination exercise period of an outstanding Award. The provisions described in this Section 6(c) may be
specified in the applicable Award Document or determined at a subsequent time. In the event that the Committee does not exercise its discretion in the manner set forth above, the terms set forth in the applicable provision of this Plan shall govern
the treatment of outstanding Awards in the event of a Participant’s termination of employment with the Company or any of its Subsidiaries or Affiliates. 
 (d) Change in Control. 
  

	 	(i)	The Committee shall have the discretion to determine the effect, if any, of a Change in Control, or a change in control of any Subsidiary, on the vesting, exercisability,
settlement, payment or lapse of restrictions applicable to an Award. The effect may be specified in the applicable Award Document at the time of grant or, subject to Section 409A(a) of the Code and other Applicable Law, determined at any time
following grant. Subject to Applicable Law, the Board or the Committee shall, at any time prior to, coincident with or after the effective time of a Change in Control, take the actions that it considers appropriate, including, without limitation:
(A) providing for the acceleration of any vesting conditions relating to the exercise or settlement of an Award or that an Award shall terminate or expire unless exercised or settled in full on or before a date fixed by the Committee;
(B) making adjustments to outstanding Awards that the Committee deems appropriate to reflect the Change in Control; (C) causing the Awards then outstanding to be assumed, or new rights to be substituted for the Awards, by the surviving
corporation in the Change in Control; or (D) permitting or requiring Participants to surrender outstanding Options and Stock Appreciation Rights in exchange for a cash payment equal to the difference between the Change in Control Price and the
Exercise Price of the Award. In the event that the Committee does not specify the effects of a Change in Control in the applicable Award Document, vesting of Awards granted under the Plan shall accelerate as follows: any and all Options and Stock
Appreciation Rights outstanding as of the effective date of the Change in Control shall become immediately vested and exercisable; provided, 

  

 7 

 however, that if such Awards are not exercised prior to the of the consummation of the Change in
Control, the Committee, in its sole discretion and without liability to any person may provide for (A) the payment of a cash amount in exchange for the cancellation of such Award and/or (B) the issuance of substitute Awards that will
substantially preserve the value, rights and benefits of any affected Awards as of the date of the consummation of the Change in Control; any restrictions imposed on Restricted Stock and Restricted Stock Units outstanding as of the effective date of
the Change in Control shall lapse; the Performance Goals with respect to all Performance Stock, Performance Stock Units, Performance Awards and other performance-based Awards that are outstanding as of the effective date of the Change in Control
shall be deemed to have been attained at the specified target level of performance; and the vesting of all Awards denominated in Shares outstanding as of the effective date of the Change in Control shall be accelerated to such date. 
  

	 	(ii)	Subject to Section 162(m) and Section 409A(a)(3) of the Code and other Applicable Law, the Committee may provide, in an Award Document or subsequent to the grant of an
Award, for the accelerated vesting, exercisability and/or the deemed attainment of a Performance Goal with respect to an Award upon specified events similar to a Change in Control. 

  

	 	(iii)	Notwithstanding any other provision of the Plan or any Award Document, the provisions of this Section 6(d) may not be terminated, amended, or modified upon or after a Change in
Control in a manner that would adversely affect a Participant’s rights with respect to an outstanding Award without the prior written consent of the Participant. Subject to Section 16, the Board, upon recommendation of the Committee, may
terminate, amend or modify this Section 6(d) at any time and from time to time prior to a Change in Control. 

 (e)
Dividends and Dividend Equivalents. The Committee may provide Participants with the right to receive dividends or payments equivalent to dividends or interest with respect to an outstanding Award (other than an Option or Stock Appreciation
Right). The payments may be paid currently or deemed to have been reinvested in Shares, and made in Shares, cash, or a combination of cash and Shares, as the Committee shall determine. The terms of any reinvestment of dividends shall comply with
Section 409A of the Code and other Applicable Law. 
 (f) Fractional Shares. No fractional Shares shall be issued or delivered
pursuant to any Award under the Plan. The Committee shall determine whether cash, Awards, or other property shall be issued or paid in lieu of fractional Shares, or whether fractional Shares or any rights to fractional Shares shall be forfeited or
otherwise eliminated. 
 (g) Rights of a Shareholder. A Participant shall have no rights as a shareholder with respect to Shares
covered by an Award (including voting rights) until (and, except as provided in Section 13, no adjustment shall be made for dividends or other rights for which the record date is prior to) the date the Participant or his nominee becomes the
holder of record of the Shares. 
 (h) Performance-Based Awards. 
  

	 	(i)	The Committee may determine whether any Award under the Plan is a Section 162(m) Award. Section 162(m) Awards shall be conditioned on the achievement of one or more
Performance Goals to the extent required by the exemption for “qualified performance-based compensation” under Section 162(m) of the Code and shall be subject to all other conditions and requirements of the exemption under
Section 162(m). The Performance Goals shall be comprised of specified levels of one or more of the following performance measures as the Committee deems appropriate: (1) earnings before or after taxes (including earnings before interest,
taxes, depreciation, and amortization); (2) net income or net income as a percentage of sales or revenue; (3) operating income or operating income as a percentage of sales or revenue; (4) earnings per Share; (5) book value per
Share; (6) return on shareholders’ equity; (7) total shareholder return; (8) expense management; (9) asset turns, inventory turns or fixed asset turns; (10) return on assets; (11) return on capital or return on
invested capital; (12) improvements in capital structure; (13) profitability of 

  

 8 

 an identifiable business unit or product; (14) stock price; (15) market share;
(16) revenues or sales; (17) costs; (18) cash flow, free cash flow or operating cash flow; (19) working capital; (20) change in net assets (whether or not multiplied by a constant percentage intended to represent the cost of
capital); and (21) return on investment before or after the cost of capital, in each case, determined in accordance with generally accepted accounting principles (subject to modifications approved by the Committee and permitted by
Section 162(m)) consistently applied on a business unit, divisional, subsidiary or consolidated basis, or any combination of the foregoing. The Performance Goals may be described in terms of objectives that are related to the individual
Participant or objectives that are Company-wide or related to a Subsidiary, partnership, joint venture any of their respective divisions, departments, regions, functions, business units, products or product lines and may be measured on an absolute
or cumulative basis, an annualized or compound annual basis, or on the basis of percentage of improvement over time, and may be measured in terms of Company performance (or performance of the applicable Subsidiary, division, department, region,
function or business unit) or measured relative to selected peer companies or a market or other index or any combination thereof. In addition, for Awards other than Section 162(m) Awards, the Committee may establish Performance Goals based on
other criteria as it deems appropriate. 
  

	 	(ii)	The Participants to receive Section 162(m) Awards shall be designated, and the applicable Performance Goals shall be established, by the Committee within 90 days following the
commencement of the applicable Performance Period (or an earlier or later date permitted or required by Section 162(m) of the Code). Each Participant shall be assigned a Target Number or Target Payment payable if Performance Goals are achieved.
Any payment of a Section 162(m) Award granted with Performance Goals shall be conditioned on the written certification of the Committee in each case that the Performance Goals and any other material conditions were satisfied. The Committee may
determine, at the time of grant, that if performance exceeds the specified Performance Goals, the Award may be settled with payment greater than the Target Number or Target Payment, but in no event may the payment exceed the limits set forth in
Section 5(c). The Committee shall retain the right to reduce any Section 162(m) Award, notwithstanding the attainment of the Performance Goals. 

 (i) Deferrals. In accordance with the procedures authorized by, and subject to the approval of, the Committee, Participants may be given the opportunity to defer the payment or settlement of an Award to one or
more dates selected by the Participant. The terms of any deferrals shall comply with Section 409A(a) and Section 162(m) of the Code and other Applicable Law. No deferral opportunity shall exist with respect to an Award unless explicitly
permitted by the Committee at or after the time of grant. 
 (j) Repricing of Options and Stock Appreciation Rights. Notwithstanding
anything in the Plan to the contrary, an Option or Stock Appreciation Right shall not be granted in substitution for a previously granted Option or Stock Appreciation Right being cancelled or surrendered as a condition of receiving a new Award, if
the new Award would have a lower exercise price than the Award it replaces, nor shall the exercise price of an Option or Stock Appreciation Right be reduced once the Option or Stock Appreciation Right is granted; and provided further, no outstanding
underwater Option or Stock Appreciation Right shall be replaced or cancelled and exchanged for another Award or cash without prior shareholder approval. The foregoing shall not (i) prevent adjustments pursuant to Section 13 or
(ii) apply to the initial grant of Substitute Awards. 
 7. Terms and Conditions of Options 
 (a) General. The Committee, in its discretion, may grant Options to Eligible Individuals and shall determine whether the Options shall be Incentive
Stock Options or Nonqualified Stock Options. Each Option shall be evidenced by an Award Document that shall expressly identify the Option as an Incentive Stock Option or Nonqualified Stock Option, and be in the form and contain the provisions that
the Committee may from time to time deem appropriate. The terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code, or any successor provision, as amended from time
to time. 
  

 9 

 (b) Exercise Price. The exercise price of an Option shall be fixed by the Committee at the time of
grant or shall be determined by a method specified by the Committee at the time of grant. In no event shall the exercise price of an Option other than a Substitute Award be less than 100 percent of the Fair Market Value of a Share on the date of
grant. The exercise price of a Substitute Award granted as an Option shall be determined in accordance with the listing standards of the NYSE and Section 409A and Section 424, as applicable, of the Code. 
 (c) Term. An Option shall be effective for the term determined by the Committee and set forth in the Award Document relating to the Option. The
Committee may extend the term of an Option after the time of grant. The term of an Option may in no event extend beyond the tenth anniversary of the date of grant. 
 (d) Exercise; Payment of Exercise Price. Options may be exercised for all, or from time to time any part, of the Shares for which it is then exercisable. Options shall be exercised by delivery of a notice of
exercise in a form approved by the Company. Subject to the provisions of the applicable Award Document, the exercise price of an Option may be paid (i) in cash or cash equivalents, (ii) by actual delivery or attestation to ownership of
freely transferable Shares already owned by the person exercising the Option and equal in value to the exercise price, (iii) by a combination of cash and Shares equal in value to the exercise price, (iv) through net share settlement or
similar procedure involving the withholding of Shares subject to the Option with a value equal to the exercise price, as permitted by the Committee, or (v) by other means that the Committee may authorize. In accordance with the rules and
procedures authorized by the Committee for this purpose, the Option may also be exercised through a “cashless exercise” procedure authorized by the Committee from time to time that permits Participants to exercise Options by delivering
irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds necessary to pay the exercise price and the amount of any required tax or other withholding obligations, or through other procedures
determined by the Company from time to time. 
 (e) Exercisability Upon Termination of Employment by Death or Disability. Subject to
Section 6(c), if a Participant’s employment with the Company and its Affiliates terminates by reason of death or Disability on or after the first anniversary of the date of grant of an Option, the Option shall immediately vest in full and
any unexercised Option shall remain exercisable until the earlier of (i) the remaining stated term of the Option and (ii) five years after the date of death or Disability. 
 (f) Exercisability Upon Termination of Employment by Retirement. Subject to Section 6(c), if a Participant’s employment with the Company
and its Affiliates terminates by reason of Retirement on or after the first anniversary of the date of grant of an Option, the Option shall continue to vest and shall remain exercisable until the earlier of (i) the remaining stated term of the
Option and (ii) five years after the date of such termination of employment (the “Post-Retirement Exercise Period”); provided, however, that if a Participant dies within a period of five years after the Participant’s termination
of employment due to Retirement, the Option shall continue to vest and shall be exercisable until the earlier of (i) the remaining stated term of the Option and (ii) the period that is the longer of (A) five years after the date of
such termination of employment due to Retirement or (B) one year after the date of death. 
 (g) Effect of Other Termination of
Employment. Subject to Section 6(c), if a Participant’s employment with the Company and its Affiliates terminates (i) for any reason (other than death, Disability or Retirement on or after the first anniversary of the date of
grant of an Option as described above) or (ii) for any reason prior to the first anniversary of the date of grant of an Option, the Option, to the extent vested, shall remain exercisable for a period of ninety days after the date of the
Participant’s termination of employment. 
 8. Terms and Conditions of Restricted Stock and Restricted Stock Units 
 (a) Restricted Stock. The Committee, in its discretion, may grant or sell Restricted Stock to Eligible Individuals. An Award of Restricted Stock
shall consist of one or more Shares granted or sold to an Eligible Individual, and shall be subject to the terms, conditions and restrictions set forth in the Plan and specified in the applicable Award Document. Restricted Stock may, among other
things, be subject to restrictions on transferability, vesting requirements or other specified circumstances under which it may be cancelled. 
  

 10 

 (b) Restricted Stock Units. The Committee, in its discretion, may grant Restricted Stock Units to
Eligible Individuals. A Restricted Stock Unit shall entitle a Participant to receive, subject to the terms, conditions and restrictions set forth in the Plan and the applicable Award Document, one or more Shares. Restricted Stock Units may, among
other things, be subject to restrictions on transferability, vesting requirements or other specified circumstances under which they may be cancelled. Upon settlement of Restricted Stock Units, the Restricted Stock Units shall become Shares owned by
the applicable Participant or, at the sole discretion of the Committee, cash, or a combination of cash and Shares, with a value equal to the Fair Market Value of the Shares at the time of payment. 
 9. Stock Appreciation Rights 
 (a) General. The
Committee, in its discretion, may grant Stock Appreciation Rights to Eligible Individuals. A Stock Appreciation Right shall entitle a Participant to receive, upon satisfaction of the conditions to payment specified in the applicable Award Document,
an amount equal to the excess, if any, of the Fair Market Value on the exercise date of the number of Shares for which the Stock Appreciation Right is exercised over the exercise price for the Stock Appreciation Right specified in the applicable
Award Document. The exercise price per share of Shares covered by a Stock Appreciation Right shall be fixed by the Committee at the time of grant or, alternatively, shall be determined by a method specified by the Committee at the time of grant. In
no event shall the exercise price of a Stock Appreciation Right other than a Substitute Award be less than 100 percent of the Fair Market Value of a Share on the date of grant. The exercise price of a Substitute Award granted as a Stock Appreciation
Right shall be in accordance with the listing standards of the NYSE and Section 409A of the Code, and may be less than 100 percent of the Fair Market Value of a Share on the date of grant. Payments to a Participant upon exercise of a Stock
Appreciation Right may be made in cash or Shares having an aggregate Fair Market Value as of the date of exercise equal to the excess, if any, of the Fair Market Value on the exercise date of the number of Shares for which the Stock Appreciation
Right is exercised over the exercise price for the Stock Appreciation Right. The term of a Stock Appreciation Right settled in Shares shall not exceed ten years. 
 (b) Stock Appreciation Rights in Tandem with Options. A Stock Appreciation Right granted in tandem with an Option may be granted either at the same time as the Option or at a later date. If granted in tandem
with an Option, a Stock Appreciation Right shall cover the same number of Shares as the Option (or a lesser number of Shares as determined by the Committee) and shall be exercisable only at the same time or times and to the same extent, and shall
have the same term, as the Option. The exercise price of a Stock Appreciation Right granted in tandem with an Option shall equal the per-share exercise price of the Option. Upon exercise of a Stock Appreciation Right granted in tandem with an
Option, the Option shall be cancelled automatically to the extent of the number of Shares covered by the exercise. Conversely, if the Option is exercised as to some or all of the Shares covered by the tandem grant, the Stock Appreciation Right shall
be cancelled automatically to the extent of the number of Shares covered by the Option exercise. 
 10. Terms and Conditions of Performance Stock,
Performance Stock Units and Performance Awards 
 (a) Performance Stock. The Committee may grant Performance Stock to Eligible
Individuals. An Award of Performance Stock shall consist of a Target Number of Shares granted to an Eligible Individual subject to the achievement of Performance Goals over the applicable Performance Period, and subject to the other terms,
conditions and restrictions set forth in the Plan and established by the Committee in connection with the Award and specified in the applicable Award Document. 
 (b) Performance Stock Units. The Committee, in its discretion, may grant Performance Stock Units to Eligible Individuals. A Performance Stock Unit shall entitle a Participant to receive a Target Number of
Shares based upon the achievement of Performance Goals over the applicable Performance Period and subject to the terms, conditions and restrictions set forth in the Plan and established by the Committee in connection with the Award and specified in
the applicable Award Document. At the sole discretion of the Committee, Performance Stock Units shall be settled through the delivery of Shares or cash, or a combination of Shares and cash, with a value equal to the Fair Market Value of the
underlying Shares as of the last day of the applicable Performance Period or another date set forth in the applicable Award Document. 
  

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 (c) Performance Awards. The Committee, in its discretion, may grant Performance Awards to Eligible
Individuals. A Performance Award shall entitle a Participant to receive, subject to the terms, conditions and restrictions set forth in the Plan and established by the Committee in connection with the Award and specified in the applicable Award
Document, a cash Target Payment based upon the achievement of Performance Goals over the applicable Performance Period. Performance Awards shall be settled in cash. 
 11. Other Awards 
 The Committee shall have the authority to specify the terms and provisions of other
forms of equity-based or equity-related awards not described above that the Committee determines to be consistent with the purpose of the Plan and the interests of the Company. The Other Awards may provide for cash payments based in whole or in part
on the value or future value of Shares, for the acquisition or future acquisition of Shares, or any combination of the foregoing. Notwithstanding the foregoing, where the value of an Other Award is based on a spread value, the grant or exercise
price will not be less than 100% of the Fair Market Value of the Shares on the date of grant. 
 12. Certain Restrictions 
 (a) Transfers. No Award shall be transferable other than pursuant to a beneficiary designation under Section 12(c), by last will and testament
or by the laws of descent and distribution or, except in the case of an Incentive Stock Option, pursuant to a domestic relations order, as the case may be. The Committee may, however, subject to Applicable Law and the terms and conditions that it
shall specify, permit the transfer of an Award, other than an Incentive Stock Option, for no consideration to a Permitted Transferee. Any Award transferred to a Permitted Transferee shall be further transferable only by last will and testament or
the laws of descent and distribution or, for no consideration, to another Permitted Transferee of the Participant. 
 (b) Award
Exercisable Only by Participant. During the lifetime of a Participant, an Award shall be exercisable only by the Participant or by a Permitted Transferee to whom the Award has been transferred in accordance with Section 12(a) above. The
grant of an Award shall impose no obligation on a Participant to exercise or settle the Award. 
 (c) Beneficiary Designation. The
beneficiary or beneficiaries of the Participant to whom any benefit under the Plan is to be paid in case of his death before he receives any or all of the benefit shall be determined under The Dun & Bradstreet Corporation Welfare Benefit
Plan. A Participant may, from time to time, name any beneficiary or beneficiaries to receive any benefit in case of his death before he receives any or all of the benefit. Each beneficiary designation shall revoke all prior designations by the same
Participant, including, for purposes of the Plan, the beneficiary designated under The Dun & Bradstreet Corporation Welfare Benefit Plan, and shall be effective only when filed by the Participant in writing with the Company during the
Participant’s lifetime, in the form or manner that the Committee may prescribe from time to time. In the absence of a valid designation under The Dun & Bradstreet Corporation Welfare Benefit Plan or otherwise, if no validly designated
beneficiary survives the Participant or if each surviving validly designated beneficiary is legally impaired or prohibited from receiving the benefits under an Award, the Participant’s beneficiary shall be the Participant’s estate.

 13. Recapitalization or Reorganization 
 (a) Authority of the Company and Shareholders. The existence of the Plan, the Award Documents and the Awards granted under the Plan shall not affect or restrict in any way the right or power of the Company or the shareholders of the
Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or business, any merger or consolidation of the Company, any issue of stock or of options, warrants or rights to
purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Shares or the rights under Shares or which are convertible into or exchangeable for Shares, or the dissolution or liquidation of
the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 
  

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 (b) Change in Capitalization. Notwithstanding any provision of the Plan or any Award Document, the
number and kind of Shares authorized for issuance under Section 5, including the maximum number of Shares available under the special limits provided for in Section 5(c), shall be equitably adjusted in the manner deemed necessary by the
Committee in the event of a stock split, reverse stock split, stock dividend, recapitalization, reorganization, partial or complete liquidation, reclassification, merger, consolidation, separation, extraordinary cash dividend, split-up, spin-off,
combination, exchange of Shares, warrants or rights offering to purchase Shares at a price substantially below Fair Market Value, or any other corporate event or distribution of stock or property of the Company affecting the Shares in order to
preserve, but not increase, the benefits or potential benefits intended to be made available under the Plan. In addition, upon the occurrence of any of the foregoing events, the number and kind of Shares subject to any outstanding Award and the
exercise price per Share (or the exercise price per Share, as the case may be), if any, under any outstanding Award shall be equitably adjusted in the manner deemed necessary by the Committee (including by payment of cash to a Participant to the
extent permitted under Section 409A of the Code and other Applicable Law) in order to preserve the benefits or potential benefits intended to be made available to Participants. The adjustments shall be made by the Committee. Unless otherwise
determined by the Committee, the adjusted Awards shall be subject to the same restrictions and vesting or settlement schedule as applied to the Award prior to such adjustment. 
 14. Term of the Plan 
 Unless earlier terminated pursuant to Section 16, the Plan shall terminate
on the tenth anniversary of the Effective Date, except with respect to Awards then outstanding. No Awards may be granted under the Plan on or after the tenth anniversary of the Effective Date. 
 15. Effective Date 
 The Plan shall become effective
on the Effective Date. 
 16. Amendment and Termination 
 Subject to Applicable Law, the Board or the Committee may at any time terminate or, from time to time, amend, modify or suspend the Plan or any outstanding Award. However, no termination, amendment, modification or
suspension (i) shall be effective without the approval of the shareholders of the Company if shareholder approval is required under the rules and listing standards of the NYSE or other Applicable Law, (ii) result in any Option, SAR or
similar Award being repriced and (iii) shall materially and adversely alter or impair the rights of a Participant in any Award previously made under the Plan without the consent of the holder of the Award. Notwithstanding the foregoing, the
Board shall have broad authority to amend the Plan or any Award under the Plan without the consent of a Participant to the extent it deems necessary or desirable (a) to comply with, take into account changes in, interpretations of or guidance
promulgated under, applicable tax laws, securities laws, employment laws, accounting rules and other Applicable Law, (b) to take into account unusual or nonrecurring events or market conditions (including, without limitation, the events
described in Section 13(b)), or (c) to take into account significant acquisitions or dispositions of assets or other property by the Company. 
 17. Miscellaneous 
 (a) Tax Withholding. The Company or a Subsidiary, as appropriate, may require any individual
entitled to receive a payment of an Award to remit to the Company, prior to payment, an amount sufficient to satisfy any applicable tax withholding requirements. In the case of an Award payable in Shares, the Company or a Subsidiary, as appropriate,
may permit or require a Participant to satisfy, in whole or in part, the obligation to remit taxes by directing the Company to withhold Shares that would otherwise be received by the individual, or may repurchase Shares that were issued to the
Participant, to satisfy the minimum statutory withholding rates for any applicable tax withholding purposes, in accordance with Applicable Law and pursuant to any rules that the Committee may establish from time to time. Subject to Applicable Laws,
the Company or a Subsidiary, as 

  

 13 

 
appropriate, shall also have the right to deduct from all cash payments made to a Participant (whether or not the payment is made in connection with an
Award) any applicable taxes required to be withheld with respect to payments under the Plan. 
 (b) No Right to Awards or Employment.
No person shall have any claim or right to receive Awards. Neither the Plan, the grant of Awards nor any action taken or omitted to be taken under the Plan shall be deemed to create or confer on any Eligible Individual any right to be retained in
the employ of the Company or any Affiliate, or to interfere with or to limit in any way the right of the Company or any Affiliate to terminate the employment of the Eligible Individual at any time. No Award shall constitute salary, recurrent
compensation or contractual compensation for the year of grant, any later year or any other period of time. Neither the Plan nor any Award constitute a contractual entitlement to any bonus payment in general irrespective of whether Awards or bonus
payments were made in previous years. Payments received by a Participant under any Award made pursuant to the Plan shall not be included in, nor have any effect on, the determination of employment-related rights or benefits under any other employee
benefit plan or similar arrangement provided by the Company and the Subsidiaries, unless otherwise specifically provided for under the terms of the plan or arrangement or by the Committee. 
 (c) Securities Law Restrictions. An Award may not be exercised or settled, and no Shares may be issued in connection with an Award, unless the
issuance of the Shares (i) has been registered under the Securities Act of 1933, as amended, (ii) has qualified under applicable state “blue sky” laws (or the Company has determined that an exemption from registration and from
qualification under state “blue sky” laws is available) and (iii) complies with foreign securities laws and other Applicable Law. The Committee may require each Eligible Individual purchasing or acquiring Shares pursuant to an Award
under the Plan to represent to and agree with the Company in writing that the Eligible Individual is acquiring the Shares for investment purposes and not with a view to the distribution of the Shares. All certificates for Shares delivered under the
Plan shall be subject to such stock transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any exchange upon which the Shares are
then listed, and any applicable securities law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. The Company may affix a legend to the stock certificate
representing the Shares issued upon the exercise or settlement of an Award as it deems necessary in its sole discretion. The Company is under no obligation to register the Shares transferred to a Participant upon exercise or settlement of
an Award under the Exchange Act. If the Shares are not registered, a Participant may not resell, offer to resell or otherwise transfer such Shares unless the resale or transfer takes place in accordance with applicable law and as otherwise
determined by the Committee. 
 (d) Section 162(m) of the Code. The Plan is intended to comply in all respects with the
requirements of the exemption for “qualified performance-based compensation” under Section 162(m) of the Code. However, that in the event the Committee determines that compliance with Section 162(m) of the Code is not desired
with respect to a particular Award, compliance with Section 162(m) of the Code shall not be required. In addition, if any provision of the Plan would cause Awards that are intended to constitute “qualified performance-based
compensation” under Section 162(m) of the Code, to fail to so qualify, that provision shall be severed from, and shall be deemed not to be a part of, the Plan, but the other provisions of the Plan shall remain in full force and effect.

 (e) Section 409A of the Code. Notwithstanding any contrary provision in the Plan or an Award Document, if any provision of the
Plan or an Award Document contravenes the requirements of, or would cause an Award to be subject to additional taxes, accelerated taxation, interest and/or penalties under, Section 409A of the Code, the provision may be modified by the
Committee without consent of the Participant in any manner the Committee deems reasonable or necessary. In making the modifications the Committee shall attempt, but shall not be obligated, to maintain, to the maximum extent practicable, the original
intent of the applicable provision without contravening the requirements of Section 409A of the Code. Moreover, any discretionary authority that the Committee may have pursuant to the Plan shall not be applicable to a Section 409A Award to
the extent the discretionary authority would contravene the requirements of Section 409A of the Code. 
  

 14 

 (f) Awards to Individuals Subject to Laws of a Jurisdiction Outside of the United States. To the
extent that Awards under the Plan are awarded to Eligible Individuals who are domiciled or resident outside of the United States, or who are domiciled or resident in the United States but who are subject to the tax laws of a jurisdiction outside of
the United States, the Committee may adjust the terms of the Awards granted to the Eligible Individual (i) to comply with the laws, rules and regulations of the non-U.S. jurisdiction and (ii) to permit the grant of the Award not to be a
taxable event to the Participant. The authority granted under the previous sentence shall include the discretion for the Committee to adopt, on behalf of the Company, one or more sub-plans applicable to separate classes of Eligible Individuals who
are subject to the laws of jurisdictions outside of the United States. 
 (g) Satisfaction of Obligations. Subject to
Section 409A(a)(3) of the Code and other Applicable Law, the Company may apply any cash, Shares, securities or other consideration received upon exercise or settlement of an Award to any obligations a Participant owes to the Company and the
Subsidiaries in connection with the Plan or otherwise, including, without limitation, any tax obligations or obligations under a currency facility established in connection with the Plan. 
 (h) No Limitation on Corporate Actions. Nothing contained in the Plan shall be construed to prevent the Company or any Subsidiary from taking any
corporate action, whether or not it would have an adverse effect on any Awards made under the Plan. No Participant, beneficiary or other person shall have any claim against the Company or any Subsidiary as a result of any corporate action.

 (i) Unfunded Plan. The Plan is intended to constitute an unfunded plan for incentive compensation. Prior to the issuance of Shares,
cash or other form of payment in connection with an Award, nothing contained in the Plan shall give any Participant any rights that are greater than those of a general unsecured creditor of the Company. The Committee may, but is not obligated, to
authorize the creation of trusts or other arrangements to meet the obligations created under the Plan. 
 (j) Successors and Assigns.
All obligations of the Company under the Plan with respect to Awards shall be binding on any successor or assign to the Company, whether the existence of the successor is the result of a direct or indirect purchase, merger, consolidation, or
otherwise, of all or substantially all of the business and/or assets of the Company. 
 (k) Application of Funds. The proceeds
received by the Company from the sale of Shares pursuant to Awards shall be used for general corporate purposes. 
 (l) Award
Document. In the event of any conflict or inconsistency between the Plan and any Award Document, the Plan shall govern and the Award Document shall be interpreted to minimize or eliminate the conflict or inconsistency. 
 (m) Headings. The headings of Sections in the Plan are included solely for convenience of reference and shall not affect the meaning of any of the
provisions of the Plan. 
 (n) Severability. If any provision of the Plan is held unenforceable, the remainder of the Plan shall
continue in full force and effect without regard to the unenforceable provision and shall be applied as though the unenforceable provision were not contained in the Plan. 
 (o) Expenses. The costs and expenses of administering the Plan shall be borne by the Company. 
 (p)
Governing Law. Except as to matters of federal law, the Plan and all actions taken under the Plan shall be governed by and construed in accordance with the laws of the State of New Jersey. 
  

 15

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