Document:

EX-10.16

 Exhibit 10.16 
 MASIMO CORPORATION 
 AMENDED AND RESTATED 

2007 SEVERANCE PROTECTION PLAN 
 Participation Agreement for 
 Anand Sampath 

  
 

 
 April 30, 2009 
 Personal & Confidential 
 Mr. Anand Sampath 

Masimo Corporation 
 Executive Vice President,
Engineering 
 40 Parker 
 Irvine,
California 92618 
  

	Re:	Masimo Corporation Amended and Restated 2007 Severance Protection Plan—Limited Participation Agreement 

Dear Anand: 
 This letter relates to the
Amended and Restated 2007 Severance Protection Plan (the “Plan”) that we, Masimo Corporation, have adopted. 
 Through
this letter, you are being offered the opportunity to become a limited Participant (a term defined in the Plan) in the Plan before the three (3) years of service specified in the Plan and, thereby, to be eligible to receive
only the change in control benefits (and not the basic or the voluntary severance benefits) described below. A copy of the Plan is attached to this letter and incorporated herein by reference. You should read the Plan
carefully and become comfortable with its terms and conditions, and those set forth below. Upon completion of three (3) years of service to Masimo Corporation, you will be eligible for full participation in the Plan. 

If you choose to sign below, you will be establishing a Participation Agreement, within the meaning of the Plan, and as limited by the terms of this
Participation Agreement; and, you will thereby be acknowledging and agreeing to the following provisions: 
 (a) that you have
received and reviewed a copy of the Plan; 
 (b) that terms not defined in this Participation Agreement, but beginning with
initial capital letters, shall have the meanings assigned to them in the Plan; 
 (c) that your limited participation in the
Plan requires that you agree irrevocably and voluntarily to the terms of the Plan and the terms set forth below; and 
 (d) that
you have had the opportunity to carefully evaluate this opportunity, and desire to participate in the Plan according to the terms and conditions set forth herein. 
 Subject to the foregoing, we invite you to become a limited Participant in the Plan. Your limited participation in the Plan will be effective upon your signing and returning this
Participation 

 
Agreement to the Company within thirty (30) days of your receipt of this Participation Agreement. 
 NOW, THEREFORE, you and the Company (hereinafter referred to as the “parties”) hereby agree as follows: 
 1. If (a) your employment terminates on the date of a Change in Control specifically because your current job, or similar job, was not offered to you on the date of such Change in Control, or
(b) you experience a Covered Termination on or after a Change in Control for a reason other than as set forth in preceding Section 1(a) then, in accordance with Sections 3 and 4 of the Plan, fifty percent (50%) of each
of your unvested and outstanding stock options or other equity-based awards will immediately vest upon a Change in Control. 
 2. As a condition
of receiving the limited Change in Control Severance Benefits pursuant to the Plan and this Participation Agreement, you must sign all relevant documents listed in Section 4 of the Plan, subject to the condition that you will be exempted
from the three (3) year eligibility requirement under Section 4(a) of the Plan. 
 3. In consideration of becoming eligible to
receive the limited Change in Control Severance Benefits provided under the terms and conditions of the Plan and this Participation Agreement, you agree to waive any and all rights, benefits, and privileges to severance benefits that you might
otherwise be entitled to receive under any other oral or written plan, employment agreement or arrangement. 
 4. You understand that the waiver
set forth in Section 3 above is irrevocable, and that this Participation Agreement and the Plan set forth the entire agreement between us with respect to any subject matter covered herein. 

5. Subject to Section 12(b) of the Plan, this Participation Agreement shall terminate, and your status as a “Participant” in the
Plan shall end, on the termination of your employment other than pursuant to a “Covered Termination” as defined in Section 2(d)(i) of the Plan. 
 6. If while the Plan and this Participation Agreement are in effect, you acknowledge that if you decide to voluntarily resign, you will give the Company six (6) months notice. 

7. As a condition for receiving benefits under the Plan and this Participation Agreement, you agree that the Committee may reduce your Plan benefits to
avoid triggering any “excess parachute payments” under Section 280G of the Code. 
 8. If any provision of the Plan, or of this
Participation Agreement, is determined to be unlawful, invalid or unenforceable, such provision shall be deemed severed from the Plan or this Participation Agreement, respectively, but every other provision of the Plan or of this Participation
Agreement shall remain in full force and effect. In substitution for any provision of the Plan or this Participation Agreement being held unlawful, invalid or unenforceable, there shall be substituted a provision of similar import reflecting the
original intent of the parties hereto to the fullest extent permissible under law. 

 9. You recognize and agree that your execution of this Participation Agreement results in your limited
enrollment and participation in the Plan, that you agree to be bound by the terms and conditions of the Plan and this Participation Agreement, and that you understand that this Participation Agreement may not be amended or modified except pursuant
to Section 12 of the Plan. 
  

					
	Dated: April 30, 2009	  	MASIMO CORPORATION:
			
		  	By:	 	 /s/ Joe E. Kiani

		  		 	Joe E. Kiani
		  		 	CEO & Chairman of the Board

 ACCEPTED AND AGREED TO this 12th day of May, 2009. 

 

	
	 /s/ Anand Sampath

	 Anand SampathEX-10.1

 Exhibit 10.1 

ENBRIDGE INC. 
 EXECUTIVE EMPLOYMENT AGREEMENT 
  

 
  

EXECUTIVE EMPLOYMENT AGREEMENT 
 BETWEEN 
 ENBRIDGE INC. 

- and - 

LEON ZUPAN 

Dated as of December 20, 2012 
  

 
  

 TABLE OF CONTENTS 

 

											
	 ARTICLE 1 DEFINITIONS AND INTERPRETATION
	  	 	1	  
		 	 	1.1	  	  	Definitions	  	 	1	  
		 	 	1.2	  	  	Headings	  	 	3	  
		 	 	1.3	  	  	Governing Law and Attornment	  	 	3	  
		 	 	1.4	  	  	Singular; Gender	  	 	3	  
		
	 ARTICLE 2 EMPLOYMENT
	  	 	3	  
		 	 	2.1	  	  	Position, Duties and Responsibilities of Executive	  	 	3	  
		 	 	2.2	  	  	Term of Agreement	  	 	3	  
		 	 	2.3	  	  	Termination of Agreement upon Disability of Executive	  	 	4	  
		 	 	2.4	  	  	Termination of Agreement by the Corporation for Cause	  	 	4	  
		 	 	2.5	  	  	Termination of Employment by the Corporation or the Executive	  	 	4	  
		 	 	2.6	  	  	Other Termination by Executive	  	 	6	  
		 	 	2.7	  	  	Pension Plans	  	 	6	  
		 	 	2.8	  	  	Continuing Provisions	  	 	7	  
		
	ARTICLE 3 NON-COMPETITION AND CONFIDENTIALITY	  			
		 	 	3.1	  	  	Non-Competition	  	 	7	  
		 	 	3.2	  	  	Confidentiality	  	 	7	  
		
	ARTICLE 4 GENERAL	  	 	7	  
		 	 	4.1	  	  	Notices	  	 	7	  
		 	 	4.2	  	  	Time	  	 	8	  
		 	 	4.3	  	  	Legal Fees and Expenses	  	 	8	  
		 	 	4.4	  	  	Integration	  	 	8	  
		 	 	4.5	  	  	Amendment	  	 	8	  
		 	 	4.6	  	  	Waivers	  	 	9	  
		 	 	4.7	  	  	Further Assurances	  	 	9	  
		 	 	4.8	  	  	Severability	  	 	9	  
		 	 	4.9	  	  	Enurement	  	 	9	  

 EXECUTIVE EMPLOYMENT AGREEMENT 

THIS AGREEMENT made effective the 1st day of August, 2012 between: 

ENBRIDGE INC., a body corporate under the Canada Business Corporations Act, with offices in the City of Calgary, in the
Province of Alberta (hereinafter called the “Corporation”) 
 - and - 

LEON ZUPAN, of the City of Houston, in the State of Texas (hereinafter called the “Executive”). 

WHEREAS: 
  

	 	(a)	the Executive is an executive of the Corporation and is considered by the Board of Directors of the Corporation to be a valued employee of the Corporation and has
acquired outstanding and special skills and abilities and an extensive background in and knowledge of the Corporation’s business and the industry in which it is engaged; and 

 

	 	(b)	the Board of Directors recognizes that it is essential, in the best interests of the Corporation, that the Corporation retain the continuing dedication of the Executive
to his office and employment and that this can best be accomplished if the personal uncertainty facing the Executive in the event of a Corporation initiated termination of employment of the Executive is alleviated; 

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants herein contained, it is hereby agreed as set
forth below. 
 ARTICLE 1 
 DEFINITIONS AND INTERPRETATION 
  

	1.1	Definitions 

 In this
Agreement: 
  

	 	(a)	“affiliate” a person shall be deemed to be an affiliate of another person if one of them is controlled by the other or both are controlled by the same
person, and if two persons are affiliates of the same person at the same time they are deemed to be affiliates of each other; 

  

	 	(b)	“Annual Compensation” means the sum of the Annual Salary and the Annual Incentive Bonus; 

 

	 	(c)	“Annual Salary” means the annual salary of the Executive established by the HRCC and payable by the Corporation or its affiliates, determined as at the
end of the month immediately preceding the month in which the termination of employment occurs and if at the relevant time an annual salary level has not been established, it shall be calculated by multiplying by 12 the monthly salary of the
Executive in effect for the month preceding the month in which a termination of employment occurs pursuant to Article 2; 

  

	 	(d)	“Annual Incentive Bonus” means the annual incentive bonus of the Executive under the Corporation’s short term incentive plan;

  

	 	(e)	“Confidential Information” means the information, processes, know-how, data, trade secrets, techniques, knowledge and other confidential information
not generally known or lawfully available to the public relating to or connected with the business or corporate affairs and operations of the Corporation and its affiliates; 

 

	 	(f)	“constructive dismissal” means, unless expressly consented to in writing by the Executive, any action that constitutes constructive dismissal (as
defined at common law) of the Executive, including without limiting the generality of the foregoing; 

  
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	 	(i)	a material decrease in the reporting relationships of the Executive, excluding a change whereby the Executive ceases to directly report to the most senior executive
officer of the Corporation (as of the date hereof, the President and Chief Executive Officer) and of its control person, if any, and directly reports to another senior executive officer of the Corporation or of its control person, if any, provided
the Executive remains a member of the most senior formal groups or committees (as of the effective date hereof its Executive Leadership Team) involved in corporate stewardship of the Corporation and of its control person, if any;

  

	 	(ii)	a material decrease in the Executive’s title, position, responsibilities or powers; 

 

	 	(iii)	a reduction in the Annual Salary (excluding the Annual Incentive Bonus) of the Executive; 

 

	 	(iv)	a reduction in the value of the Executive’s pension benefits (including without limiting the generality of the forgoing the defined benefit pension plan or the
supplemental benefit pension plan); or 

  

	 	(v)	a material reduction in the value of the Executive’s other employee benefits, plans and programs, other than a reduction in the value of the Executive’s
Annual Incentive Bonus as a result of the normal application of the performance criteria under the Annual Incentive Bonus. 

  

	 	(g)	“control person” means a person, or a group of persons acting jointly or in concert, that is or are in a position to exercise, directly or indirectly,
effective control of another person, whether through: 

  

	 	(i)	the ownership or control of: 

  

	 	A.	a majority of, or 

  

	 	B.	in the case of a person whose voting securities or interests are widely held or publicly traded, 20% or more of, 

the voting securities or interests of such other person (including without limiting the generality of the foregoing of any securities or
interests which are convertible or exchangeable into voting securities or interests forming part of the holdings of the person or group of persons, whether or not at relevant time such conversion or exchange has taken place, and including securities
or interests of a person or group of persons which carry the right to vote under circumstances that have occurred and are continuing); or 
  

	 	(ii)	contract or other legal rights, 

and “control” in respect of a person shall have a corresponding meaning; 

provided that a person holding voting securities or interests in the ordinary course of business as an investment manager and who is not,
individually or acting jointly or in concert with other persons, using such holding to exercise effective control shall not be considered a control person; 
  

	 	(h)	“defined benefit pension plan” means the Corporation’s registered pension plan, entitled “Retirement Plan for the Employees of Enbridge Inc.
and Affiliates” and dated July 1, 2001, as amended or replaced from time to time in accordance with the terms of such registered pension plan; 

  

	 	(i)	“Human Resources and Compensation Committee” or “HRCC” means the committee of the Board of Directors of the Corporation from time to
time appointed to fix the remuneration of executives of the Corporation or, if such committee has not been appointed, means the Board of Directors of the Corporation; 

 

	 	(j)	“Pensionable Bonus” means the portion of Annual Incentive Bonus which is used under the defined benefit pension plan and the supplemental benefit
pension plan to determine final or best average earnings; 

  

	 	(k)	“person” means an individual, a partnership or incorporated or unincorporated association, syndicate or organization, a company, corporation or other
body corporate wherever or however incorporated, a trust or any government or governmental authority or instrumentality; 

  
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	 	(l)	“RCA” shall have the meaning set out in Section 2.7; 

 

	 	(m)	“Retiring Allowance” shall have the meaning set out in Section 2.5(b); 

 

	 	(n)	“supplemental benefit pension plan” means the non-registered supplemental pension plan, entitled “The Enbridge Supplemental Pension Plan” and
dated January 1, 2000, as amended or replaced from time to time in accordance with the terms of such supplemental pension plan; and 

  

	 	(o)	“supplementary undertaking” shall have the meaning set out in Section 2.7. 

 

	1.2	Headings 

 The headings
of the articles, sections, clauses and paragraphs herein are inserted for convenience of reference only and shall not affect the meaning or interpretation hereof. Unless otherwise stated, all references to articles, sections, clauses or paragraphs
in this Agreement are to those set out in this Agreement. 
  

	1.3	Governing Law and Attornment 

 This Agreement shall be construed and interpreted in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable therein. Each of the parties hereby irrevocably attorns
to the jurisdiction of the courts of the Province of Alberta with respect to any matters arising out of this Agreement. 
  

	1.4	Singular; Gender 

 All
words importing the singular number include the plural and vice versa, and all words importing gender include the masculine, feminine and neuter genders. 
 ARTICLE 2 
 EMPLOYMENT 

 

	2.1	Position, Duties and Responsibilities of Executive 

 The Executive shall have such responsibilities and powers as the Board of Directors or the bylaws of the Corporation or the Executive’s superiors may from time to time prescribe and are currently
contemplated by his position as President, Gas Pipelines, or substantially equivalent duties and responsibilities. Except as may be authorized by the Board of Directors of the Corporation, or by the Executive’s superiors from time to time, the
Executive shall devote the whole of his time to the Executive’s duties hereunder and shall use his best efforts to promote the interests of the Corporation and its affiliates. 

 

	2.2	Term of Agreement 

 The
term of this Agreement shall commence on the effective date hereof and, subject to Section 2.8, shall continue in effect to and including the earliest of: 
  

	 	(a)	the effective date of voluntary retirement of the Executive in accordance with the retirement policies established for senior employees of the Corporation;

  

	 	(b)	the effective date of voluntary resignation of the Executive other than pursuant to Section 2.5(a)(ii); 

 

	 	(c)	the death of the Executive; or 

  

	 	(d)	the effective date of termination of the employment of the Executive by the Corporation, including pursuant to Section 2.5 (a)(ii). 

  
 3 

	2.3	Termination of Agreement upon Disability of Executive 

 If at the end of any month the Executive is and has been for a period of more than 12 consecutive months unable to perform the essential duties specified pursuant to this Agreement in the normal and
regular manner due to mental or physical disability, this Agreement may be terminated by the Corporation on 30 days’ prior written notice. Notwithstanding anything contained in this Section 2.3, the Executive shall, after such termination,
continue to be entitled to all benefits provided under the disability and pension plans of the Corporation or its affiliates applicable to the Executive at the date of and during the time of this Agreement. 

 

	2.4	Termination of Agreement by the Corporation for Cause 

 The Corporation may terminate this Agreement at any time without notice in the event the Executive shall be convicted of a criminal act of dishonesty resulting or intending to result directly or
indirectly in gain or personal enrichment of the Executive at the expense of the Corporation, or for just cause as defined at common law, pursuant to written notice setting forth particulars of such cause. 

 

	2.5	Termination of Employment by the Corporation or the Executive 

  

	 	(a)	Except where such termination is pursuant to Sections 2.2(a), 2.2(b), 2.2(c), 2.4 or 2.6 the provisions of this Section 2.5 shall apply: 

 

	 	(i)	where the Corporation terminates the employment of the Executive for any reason; 

 

	 	(ii)	 where the Executive terminates his employment with the Corporation within a period of 180 days following constructive dismissal of the Executive. For
this purpose the Executive may within a period of 180 days following the constructive dismissal of the Executive terminate his employment with the Corporation upon 30 days’ prior written notice to the Corporation. For greater clarity, the said
30 day notice may be given at any time up to the 150th day
of the said 180-day period; or 

  

	 	(iii)	where the Corporation terminates this Agreement pursuant to Section 2.3. 

 

	 	(b)	In the event of termination of employment as provided in Section 2.5(a), the Executive shall be entitled to receive, and the Corporation shall pay to the
Executive, a retiring allowance (the “Retiring Allowance”) computed as hereinafter provided, which shall include all statutory entitlement under employment standards legislation and all common law entitlement to reasonable notice.
The Retiring Allowance shall be that amount which is equal to two times the sum of: 

  

	 	(i)	the Annual Salary; and 

  

	 	(ii)	the average of the last two payments of the Annual Incentive Bonus paid to the Executive (or the last payment if there has not been more than one Annual Incentive Bonus
paid to the Executive) immediately preceding the date of such termination of employment. 

  

	 	(c)	In addition to the Retiring Allowance calculated in accordance with Section 2.5(b): 

 

	 	(i)	the Corporation shall pay to the Executive the cash value of two times the last annual flex credit allowance provided to the Executive immediately preceding the date of
such termination of employment under the Corporation’s flexible benefit program unless the Executive continues to be covered through the Corporation’s annuitant benefit program or the benefits program of another employer of equal value
(and in the case that such other employer’s benefit program is of lesser value, the Executive shall be paid the difference in such values). Alternatively, at the Executive’s election, the Corporation shall provide continuation of the
benefit coverage, for the applicable notice period, with the exception of those benefits which may not be continued pursuant to the applicable plan text, including long term disability coverage; 

 

	 	(ii)	 the Corporation shall pay to the Executive an Annual Incentive Bonus for the calendar year in which the termination of employment occurs, pro-rated
based upon the number of days of employment of the Executive in the calendar year to the total number of days in the year and 

  
 4 

	 	
calculated based on the last Annual Incentive Bonus payment received by the Executive. In addition, the Executive shall receive all accrued and unpaid annual vacation pay to the date of
termination. In addition, where the Executive holds rights under other plans to cash incentive compensation (including without limiting the generality of the foregoing, any performance stock units) the Executive shall be paid for the period in which
he was employed a prorated amount based upon the number of days in the applicable period under the plan the Executive was employed to the number of days in the applicable plan period and such amounts shall be paid to the Executive within 30 days of
the date on which amounts so payable under such plans are determined; 

  

	 	(iii)	the Corporation shall pay to the Executive the cash value of two times the last annual flexible perquisite allowance provided to the Executive immediately preceding the
date of such termination of employment under the Corporation’s executive flexible perquisites program less any amounts prepaid to the Executive but unearned by virtue of such termination of employment (as of the effective date of this Agreement
the last annual flexible perquisite allowance is $30,000); 

  

	 	(iv)	the Corporation shall pay to the Executive a lump sum payment equivalent to the Corporation’s portion of contributions on behalf of the Executive to the
Corporation’s employee savings plan for a two year period based upon the base salary of the Executive as at the effective date of termination; and 

  

	 	(v)	the Corporation shall pay for financial counselling and/or career counselling assistance for the Executive to a maximum of $20,000. 

 

	 	(d)	The Executive shall have, and shall be deemed to have had, as of the effective date of termination, two years of additional service added to the service already accrued
at the effective date of termination under the Corporation’s defined benefit pension plan and supplemental benefit pension plan. 

  

	 	(e)	Notwithstanding the provisions of any plan under which such options have been issued, if at the effective date of termination of employment as provided in
Section 2.5(a) the Executive holds vested but unexercised options for the purchase of shares or other securities under any of the Corporation’s or its affiliates’ stock option plans, the Executive shall be entitled to exercise all
options so held in accordance with the terms of such plans; provided further that any provision in any such plan which purports to terminate such options in the event of termination of employment for any reason shall not be applicable or, if such
provision is applicable under such plan to prevent such exercise, the provisions of Section 4.4 shall apply. If the Executive holds options for the purchase of shares or other securities under any of the Corporation’s or its
affiliates’ stock option plans which are not vested or otherwise not exercisable at the date of termination of employment in circumstances where this Section 2.5 applies, the Corporation shall pay to the Executive a cash amount
representing the excess, if any, of the fair market value of the shares or other securities on the date of termination of employment over the exercise price for such options. Fair market value on the date of termination of employment shall mean the
last board lot sale price on the Toronto Stock Exchange (or such other exchange on which the greatest volume of trading of such shares or other securities takes place for the 30 trading days prior to the date of termination) on the last trading day
prior to the date of termination of employment. 

  

	 	(f)	The Corporation and the Executive agree that the provisions of Section 2.5 are fair and reasonable and that the amounts payable by the Corporation to the Executive
pursuant to Section 2.5 are reasonable estimates of the damages which will be suffered by the Executive in the event of the termination of his employment with the Corporation in the circumstances set out in Section 2.5, and shall not be
construed as a penalty, nor shall the Executive be required to mitigate any loss resulting from the termination, including without limiting the generality of the foregoing, any amounts required to be paid pursuant to this Agreement.

  

	 	(g)	The amounts payable by the Corporation to the Executive pursuant to Section 2.5 shall not be reduced by any amounts earned by the Executive after the termination
of the employment of the Executive. 

  
 5 

	 	(h)	All amounts paid by the Corporation to the Executive pursuant to Section 2.5 shall satisfy and forever discharge all liabilities, claims or actions that the
Executive may or shall have against the Corporation arising from the termination of employment of the Executive whether at common law or under statute or otherwise. 

 

	 	(i)	Subject to the provisions of Sections 2.5(c) and 2.5(e), the Corporation shall, at the option of the Executive, pay the amounts provided under this Section 2.5 to
the Executive on the effective date that the employment of the Executive is terminated, or as soon thereafter as reasonably practical, but in any event within 30 days of the effective date of such termination, less all applicable statutory
deductions, or arrange a schedule of instalment payments of such amounts as determined by the Executive. Upon payment to the Executive of the amounts provided for under this Section 2.5 and, if applicable, a duly signed written agreement of the
Corporation to make all instalment payments thereof on a timely basis in accordance with the Executive’s determinations as provided for in the foregoing sentence, the Executive and the Corporation shall execute and deliver to the other the
releases in the forms of Schedules A and B, respectively. 

  

	2.6	Other Termination by Executive 

 Notwithstanding anything to the contrary herein, in addition to the right of the Executive to terminate his employment under the circumstances described in Section 2.5, the Executive shall be
entitled to terminate this Agreement and his employment with the Corporation at his pleasure upon 30 days’ prior written notice to such effect. In such event, the Executive shall not be entitled to any further compensation from the effective
date of his termination of employment, except for such compensation as accrued prior to and on the effective date of termination of employment. The Corporation acknowledges and agrees that the Corporation shall have no remedy against the Executive,
in law or otherwise, upon the termination of this Agreement and the Executive’s employment with the Corporation in accordance with this Section 2.6. 
  

	2.7	Pension Plans 

 The
Corporation undertakes and agrees with the Executive (herein, the “supplementary undertaking”) to pay or cause to be paid to the Executive the amounts provided for in the supplemental benefit pension plan as modified by this
Section 2.7, which amounts are supplemental to the amounts to be paid to the Executive under the defined benefit pension plan, such that the Executive will receive an annual pension equal to the annual pension that the Executive would be
entitled to under the defined benefit pension plan but for the fact that retirement benefits under the defined benefit pension plan are subject to a maximum pension limitation as fixed from time to time under the Income Tax Act (Canada) and
the rules and regulations from time to time promulgated by Canada Revenue Agency thereunder. In particular, the Executive (or the Executive’s spouse or beneficiary as defined in the supplemental benefit pension plan) is entitled to receive:

  

	 	(a)	benefits determined in accordance with the supplemental benefit pension plan, being certain amounts that would be payable from the defined benefit pension plan but for
limitations imposed by the Income Tax Act (Canada), all as specified in the supplemental benefit pension plan; and 

  

	 	(b)	if Section 2.5(d) applies, benefits determined in accordance with the supplemental benefit pension plan pursuant to Section 2.7 (a) above as if:

  

	 	(i)	two additional years of credited service were applied in the lifetime retirement income formula in the defined benefit pension plan, and two additional years of
continuous service were granted for other purposes of the defined benefit pension plan; 

  

	 	(ii)	for the purposes of determining final or best average earnings, for each of the two additional years of credited service provided for pursuant to Section 2.7
(b) (i) above: 

  

	 	A.	 the Executive’s salary for such years shall be deemed to be his Annual Salary as at the date of termination of employment, and

  
 6 

	 	B.	the Annual Incentive Bonus used in calculating the Pensionable Bonus for each of such additional years shall be deemed to be the average of the last two payments of
Annual Incentive Bonus paid to the Executive (or the last payment if there has not been more than one Annual Incentive Bonus paid to the executive immediately preceding the date of termination of employment). 

The Corporation represents and undertakes to the Executive that the supplementary undertaking is and shall hereafter be maintained in a
retirement compensation arrangement (as referred to in the Income Tax Act (Canada)) separately maintained under a trust arrangement established by the Corporation (the “RCA”). The supplementary undertaking shall be funded
from amounts in the RCA with any amount that cannot be funded from the RCA being paid by the Corporation. 
  

	2.8	Continuing Provisions 

Notwithstanding the termination of this Agreement under Article 2, the provisions of Sections 2.5, 2.6, 2.7 and 2.8 and Article 3 and all
other provisions hereof which by their terms are to be performed following the termination hereof shall survive such termination and be continuing obligations, and all rights of the Executive to compensation and benefits which have accrued prior to
such termination shall remain payable and enforceable regardless of such termination. 
 ARTICLE 3 

NON-COMPETITION AND CONFIDENTIALITY 
  

	3.1	Non-Competition 

 The
Executive recognizes and understands that in performing the duties and responsibilities of his employment as outlined in this Agreement, he will occupy a position of high fiduciary trust and confidence, pursuant to which he has developed and will
develop and acquire wide experience and knowledge with respect to the businesses carried on by the Corporation and its affiliates and the manner in which such businesses are conducted. It is the expressed intent and agreement of the Executive and of
the Corporation that such knowledge and experience shall be used solely and exclusively in the furtherance of the business interests of the Corporation and its affiliates and not in any manner detrimental to them. The Executive therefore agrees that
so long as he is employed by the Corporation pursuant to this Agreement he shall not engage in any practice or business in competition with the business of the Corporation or any of its affiliates. 

 

	3.2	Confidentiality 

 The
Executive further recognizes and understands that in the performance of his employment duties and responsibilities outlined in this Agreement, he will become knowledgeable, aware and possessed of Confidential Information concerning the business of
the Corporation and its affiliates. The Executive agrees that, except with the consent of the Board of Directors of the Corporation or his superior, or as required by applicable law, he will not disclose such Confidential Information to any
unauthorized persons so long as he is employed by the Corporation pursuant to this Agreement and for a period of two years thereafter; provided that the foregoing shall not apply to any Confidential Information which is or becomes known or available
to the public or to the competitors of the Corporation or its affiliates other than by a breach of this Agreement by the Executive. 
 ARTICLE 4 
 GENERAL 

 

	4.1	Notices 

 Any notice
required or permitted to be given to a party hereunder shall be in writing and may be given by mailing the same (provided there is no threatened or pending disruption of postal services), postage prepaid, or delivering the same, addressed to such
party at the following address: 

  
 7 

 To the Corporation: 
 Enbridge Inc. 
 3000, 425 – 1st Street S.W. 

Calgary, Alberta T2P 3L8 
 Attention:    President and Chief Executive Officer 
 To the
Executive: 
 Leon Zupan 
 Any notice aforesaid if delivered shall be deemed to have been delivered on the first business day following the date on which it was delivered or if mailed shall be deemed to have been received on the
third business day following the date on which it was mailed. Any party may change its address for service from time to time by a notice given in accordance with the foregoing. 

 

	4.2	Time 

 Time shall be of
the essence of this Agreement. 
  

	4.3	Legal Fees and Expenses 

The Corporation shall pay all reasonable costs incurred by the Executive, as determined in the sole discretion of the President and Chief
Executive Officer, in respect of legal, consulting and accounting expenses in connection with the negotiation and execution of this Agreement. The Corporation shall pay all costs, charges and expenses incurred in respect of legal, consulting and
accounting expenses (including legal fees, charges and disbursements on an as between a solicitor and his own client basis) incurred by the Executive or his estate in taking any action or enforcing any right or benefit provided to the Executive by
this Agreement; provided only that the Executive is substantially successful in any such action or in enforcing any such right or benefit, and providing further that payments pursuant to this Section 4.3 shall not exceed a maximum amount of
$20,000 or such greater amount as may be ordered by any court or other competent authority. 
  

	4.4	Integration 

 The
provisions of this Agreement are in addition to and not in substitution for the other terms, conditions and provisions concerning the employment of the Executive by the Corporation, whether contained in benefit or incentive plans (including without
limiting the generality of the foregoing, short term incentive plans, performance incentive plans and long term incentive plans) or otherwise, and where there is any conflict between this Agreement and such other terms, conditions and provisions
this Agreement shall govern and prevail. In the event any plan under which any benefit or incentive is granted does not permit a benefit or incentive to be received in circumstances contemplated by this Agreement, the Corporation shall pay to the
Executive a cash amount equal to the value of the benefit or incentive provided for in this Agreement. This Agreement together with such other terms, conditions and provisions and the offer of employment dated May 9, 2012 constitute the entire
Agreement between the parties hereto pertaining to the subject matter hereof. 
  

	4.5	Amendment 

 This Agreement
may not be amended or modified in any respect except by written instrument signed by the parties hereto. This Agreement shall, if the Executive so requests in writing, be amended to modify its provisions to provide the Executive with the same rights
in respect of circumstances where a person becomes a control person of the Corporation or its affiliates as may be provided for in any agreement entered into after the effective date of this Agreement (other than amended and restated employment
agreements that may be entered into after the effective date hereof with employees who were members of the Executive Leadership Team on the effective date of this Agreement) with any other employee of the Corporation (other than its President and
Chief Executive 

  
 8 

 
Officer or its Chief Financial Officer) or any of its affiliates. The Corporation shall, within 10 days of the entering into of any such agreement with another employee, notify the Executive in
writing of the details of such provisions (but shall not be required to disclose the identity of the other employee). 
  

	4.6	Waivers 

 No waiver by
either party hereto of any breach of any of the provisions of this Agreement shall take effect or be binding upon the party unless in writing and signed by such party. Unless otherwise expressly provided therein, such waiver shall not limit or
affect the rights of such party with respect to any other breach. 
  

	4.7	Further Assurances 

 The
parties hereto agree to execute and deliver such further and other documents and perform and cause to be performed such further and other acts and things as may be necessary or desirable in order to give full effect to this Agreement and every part
hereof. 
  

	4.8	Severability 

 If any
provision of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby. 

 

	4.9	Enurement 

 This Agreement
shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, legal personal representatives, successors and permitted assigns. 
 IN WITNESS WHEREOF the Corporation has caused this Agreement to be duly executed and delivered by its duly authorized officers in that behalf and the Executive has hereunto set his hand effective
as of the day and year first written above. 
  

									
	 	 	 	  	ENBRIDGE INC.
				
		 		  	 	Per:	  	  	/s/ AL MONACO
		 		  				  	 Al Monaco
 President and
Chief Executive
Officer

				
		 		  	 	Per:	  	  	/s/ JANE HABERBUSCH
		 		  				  	 Jane Haberbusch
 Vice
President, Human Resources
& Administration

			
	SIGNED AND DELIVERED in the
presence of:	 	 )
 )
 )
 )
 )
 )
	  		
	/s/ GUY JARVIS	 	  	 	/s/ LEON ZUPAN
	 WITNESS as to the signature of

Leon Zupan
	 	  	 	Leon Zupan

  
 9 

 SCHEDULE A 
 Release 
 KNOW ALL MEN BY THESE PRESENTS that I, Leon
Zupan, of the City of Houston, in the State of Texas, in consideration of the amounts (including without limiting the generality of the foregoing, if applicable, payment of instalments of such amounts) provided in Sections 2.5 and 2.7 of the
Executive Employment Agreement (the “Contract”) dated as of August 1, 2012 between me and Enbridge Inc. (the “Corporation”) and for other good and valuable consideration, inclusive of any statutory severance or
benefits in accordance with the Employment Standards Code (Alberta), the receipt (other than in respect of the future instalments referred to above, if any) and sufficiency of which is hereby acknowledged, do for myself, my executors and
assigns hereby remise, release and forever discharge the Corporation, its respective predecessors, successors and assigns, from all manner of actions, causes of action, claims or demands, past, present or future, which against the Corporation, its
respective predecessors, successors and assigns, I ever had, now have, or can, shall or may hereafter have, by reason of or arising out of any cause, matter or thing whatsoever done or admitted to be done, occurring or existing up to and inclusive
of the date of this Release and in particular, without in any way restricting the generality of the foregoing, in respect of all claims, past, present or future, directly or indirectly related to or arising out of or in connection with my
relationship with the Corporation, its respective predecessors, successors and assigns, as an employee, officer, director or trustee, and the termination of my employment from the Corporation, on
                    , 20    . Words or terms defined in the Contract and not otherwise defined herein shall have
the meanings ascribed to them in the Contract. 
 AND FOR THE SAID CONSIDERATION I represent and warrant that I have not
assigned to any person any of the actions, causes of action, claims, suits, executions or demands which I release by this Release, or with respect to which I agree not to make any claim or take any proceeding herein. 

NOTWITHSTANDING ANYTHING CONTAINED HEREIN, this Release shall not extend to or affect, or constitute a release of, my right to
sue, claim against or recover from the Corporation and shall not constitute an agreement to refrain from bringing, taking or maintaining any action against the Corporation in respect of: 

 

	 	(a)	any corporate indemnity existing by statute or contract or pursuant to any of the constating documents of the Corporation provided in my favour in respect of my having
acted at any time as a director, trustee or officer or any of such positions with the Corporation or any of its affiliates or of any person I acted as a director, trustee or officer of at the request of the Corporation or any of its affiliates;

  

	 	(b)	my entitlement to any insurance maintained for the benefit or protection of the directors, trustees or officers of the Corporation or of any of its affiliates or of any
person I acted as a director, trustee or officer of at the request of the Corporation or any of its affiliates, including without limitation, directors’, trustees’ and officers’ liability insurance; or 

 

	 	(c)	my entitlement to any amounts that may arise under the Sections and Articles of the Contract referred to in Section 2.8 of the Contract. 

IT IS HEREBY AGREED that, except as provided herein, the terms of the Contract and of this Release will be kept confidential.
Subject to the following, I shall not communicate any such terms to any third party under any circumstances whatsoever, although I shall be at liberty to disclose to third parties that a mutually acceptable release was agreed upon. Notwithstanding
the foregoing, I shall be permitted to disclose the terms of the Contract and this Release to my spouse, and my tax, financial and legal advisors, and to make any disclosures of the terms of the Contract and this Release as may be required to allow
me to comply with any applicable provision of the law. In such event, I shall require that my spouse, and any such tax, financial or legal advisor execute the undertaking provided in Schedule C to the Contract prior to the disclosure of the terms of
the Contract and this Release and shall advise the Corporation of such disclosure and provide the Corporation with a copy of such undertaking. In the event of any disclosure required by law, upon becoming aware of any such I shall, provided I am
legally permitted to do so, promptly advise the Corporation of the required disclosure prior to making such disclosure and shall, to the extent legally permitted to do so, provide the Corporation with

  
 1 

 
reasonable opportunity to seek protective orders or other assurances that confidential treatment will be afforded to such information. The invalidity or unenforceability of any provision of this
Release shall not affect the validity or enforceability of any other provision of this Release, which shall remain in full force and effect. 
 I HEREBY DECLARE that I have read all of this Release, fully understand the terms of this Release and voluntarily accept the consideration stated herein as the sole consideration for this Release
for the purpose of making a full and final settlement with the Corporation. I further acknowledge and confirm that I have been given an adequate period of time to obtain independent legal counsel upon the meaning and the significance of the terms
herein. 
 IN WITNESS WHEREOF, I have 
 hereunto set my hand this      day of                 , 20    .

  

					
	 	 		 	 
	Witness	 		 	Leon Zupan

  
 2 

 SCHEDULE B 
 Release 
 KNOW ALL MEN BY THESE PRESENTS that Enbridge Inc.
(the “Corporation”), a corporation incorporated under the laws of Canada, in consideration of the delivery by Leon Zupan (the “Executive”) of a Release dated the date hereof and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, for itself, its affiliates and its and their respective predecessors, successors and assigns, hereby remises, releases and forever discharges the Executive and his heirs,
legal personal representatives and assigns from all manner of actions, causes of action, claims or demands, past, present or future, against the Executive or his heirs, legal personal representatives and assigns which the Corporation, its affiliates
or its or their respective predecessors, successors and assigns ever had, now have, or can, shall or may hereafter have, by reason of or arising out of any cause, matter or thing whatsoever done or omitted to be done, occurring or existing up to and
inclusive of the date of this Release and in particular, without in any way restricting the generality of the foregoing, in respect of all claims, past, present or future, directly or indirectly related to or arising out of or in connection with the
Corporation’s or its affiliates’ relationship with the Executive, as an employee, officer, director or trustee of the Corporation or its affiliates. Words or terms defined in the Contract (as defined below) and not otherwise defined herein
shall have the meanings ascribed to them in the Contract. 
 AND FOR THE SAID CONSIDERATION the Corporation represents
and warrants that neither it nor its affiliates has assigned to any person any of the actions, causes of action, claims, suits, executions or demands which it releases by this Release, or with respect to which it and its affiliates agrees not to
make any claim or take any proceeding herein. 
 IT IS HEREBY AGREED that, except as provided herein or as required by
law, the terms of the Executive Employment Agreement (the “Contract”) dated as of August 1, 2012 between the Corporation and the Executive and of this Release will be kept confidential. None of the Corporation or its
affiliates, or any of their employees, officers, directors or trustees shall communicate any such terms to any third party under any circumstances whatsoever, although the Corporation shall be at liberty to disclose to third parties that a mutually
acceptable release was agreed upon. In the event of disclosure required by law, upon becoming aware of such the Corporation shall , provided it is legally permitted to do so, promptly advise the Executive of the required disclosure prior to making
such disclosure and shall, to the extent legally permitted to do so, provide the executive with reasonable opportunity to seek protective orders or other assurances that confidential treatment will be afforded to such information. The invalidity or
unenforceability of any provision of this Release shall not affect the validity or enforceability of any other provision of this Release, which shall remain in full force and effect. 

IN WITNESS WHEREOF, the Corporation has duly executed and delivered this Release this      day of
                , 20    . 
  

			
	ENBRIDGE INC.
		
	 Per:
	 	 
		
	Per:	 	 

  
 3 

 SCHEDULE C 

Undertaking 
  

							
	 I,
	 	 	 	of 	 	 
		 	 [print name of person giving the undertaking]
	 		 	 [suite number and street address]

 

					
	                             
                               ,	 	                             
                             ,	 	
	 [city, town, etc.]
	 	 [province/state]
	 	 [country]

 being the
                                         
                                         
                                         
     , of Leon Zupan [describe relationship to the “Executive”, as defined hereinafter, eg: spouse, tax, financial or legal advisor] (the “Executive”) for good and valuable consideration,
the receipt and sufficiency of which I hereby acknowledge, agree to keep strictly confidential the terms and conditions of the Executive Employment Agreement dated as of August 1, 2012 made between Enbridge Inc. and the Executive, and any
release thereof, all as may be disclosed to me by the Executive. 
 I further acknowledge that I will make no use whatsoever of the information
comprising the terms and conditions of such Executive Employment Agreement, and any release thereof, except as may be required for the purposes of my providing advice and direction to the Executive in my aforesaid capacity. 

 

											
	IN WITNESS WHEREOF, I have hereunto set my hand this 	 	 	 	 day of 	 	                ,	 	 20	 	                .
		 	[date]	 		 	[month]	 		 	[year]

  

					
	 [witness’ signature]
	 		 	[signature of person giving the undertaking]
	 	 		 	
	[print name of witness]	 		 	
	 	 		 	
	 [Suite number and street address]
	 		 	
	 	 		 	
	 [city, town etc.]
	 		 	
	 	 		 	
	 [province/state, country]
	 		 	
	 	 		 	
	 [postal code]
	 		 	

  
 4

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