Document:

EX-10.1

 Exhibit 10.1 

EIGHTH AMENDED AND RESTATED 

ADMINISTRATIVE SERVICES AGREEMENT 

by and among 

ENTERPRISE PRODUCTS COMPANY 

EPCO HOLDINGS, INC. 

and 
 ENTERPRISE
PRODUCTS HOLDINGS LLC 
 (formerly named EPE Holdings LLC) 

ENTERPRISE PRODUCTS PARTNERS L.P. 

ENTERPRISE PRODUCTS OLPGP, INC. 

ENTERPRISE PRODUCTS OPERATING LLC 

and 
 (for purposes of
Article 7 only) 
 THE OILTANKING PARTIES NAMED HEREIN 

 TABLE OF CONTENTS 

 

									
	 ARTICLE 1: DEFINITIONS
	  	 	2	  
				
		 	 1.1
	 	 Definitions
	  	 	2	  
		 	 1.2
	 	 Construction
	  	 	2	  
		
	 ARTICLE 2: SERVICES
	  	 	2	  
				
		 	 2.1
	 	 EPCO Services
	  	 	2	  
		 	 2.2
	 	 EPCO Compensation
	  	 	2	  
		 	 2.3
	 	 Dispute Regarding Services or Calculation of Costs
	  	 	3	  
		 	 2.4
	 	 Invoices
	  	 	3	  
		 	 2.5
	 	 Disputes; Default
	  	 	3	  
		 	 2.6
	 	 Input Regarding EPCO Services
	  	 	4	  
		 	 2.7
	 	 Limitation Regarding EPCO Services
	  	 	4	  
		 	 2.8
	 	 Representations Regarding Use of Services
	  	 	4	  
		 	 2.9
	 	 Disclaimer of Warranties; Limitation of Liability
	  	 	4	  
		 	 2.10
	 	 Force Majeure
	  	 	5	  
		 	 2.11
	 	 Affiliates
	  	 	5	  
		 	 2.12
	 	 Term and Termination
	  	 	5	  
		
	 ARTICLE 3: OWNERSHIP OF WORK PRODUCT; AUDIT RIGHTS: DISCLOSURE OF COMPENSATION
	  	 	6	  
				
		 	 3.1
	 	 Ownership of Work Product
	  	 	6	  
		 	 3.2
	 	 Audit Rights
	  	 	7	  
		 	 3.3
	 	 Disclosure of Compensation
	  	 	7	  
		
	 ARTICLE 4: INDEMNIFICATION
	  	 	7	  
				
		 	 4.1
	 	 Indemnification by EPCO
	  	 	7	  
		 	 4.2
	 	 Indemnification by EPD, EPOLLC and MLP Group Parties
	  	 	8	  
		 	 4.3
	 	 Negligence; Strict Liability
	  	 	9	  
		
	 ARTICLE 5: OTHER AGREEMENTS
	  	 	9	  
				
		 	 5.1
	 	 Insurance Matters
	  	 	9	  
		 	 5.2
	 	 EPCO’s Employees
	  	 	9	  
		 	 5.3
	 	 EPCO Group License and Participation in MLP Group Agreements
	  	 	10	  
		
	 ARTICLE 6: MISCELLANEOUS
	  	 	11	  
				
		 	 6.1
	 	 Choice of Law; Submission to Jurisdiction
	  	 	11	  
		 	 6.2
	 	 Notices
	  	 	11	  
		 	 6.3
	 	 Entire Agreement; Supersedure
	  	 	11	  
		 	 6.4
	 	 Effect of Waiver of Consent
	  	 	11	  
		 	 6.5
	 	 Amendment or Modification
	  	 	11	  

  
 -i- 

									
		 	 6.6
	 	 Assignment
	  	 	12	  
		 	 6.7
	 	 Counterparts
	  	 	12	  
		 	 6.8
	 	 Severability
	  	 	12	  
		 	 6.9
	 	 Further Assurances
	  	 	12	  
		 	 6.10
	 	 Withholding or Granting of Consent
	  	 	12	  
		 	 6.11
	 	 U.S. Currency
	  	 	12	  
		 	 6.12
	 	 Laws and Regulations
	  	 	12	  
		 	 6.13
	 	 Negation of Rights of Third Parties
	  	 	12	  
		 	 6.14
	 	 No Recourse Against Officers, Directors, Managers or Employees
	  	 	12	  
		 	 6.15
	 	 Relationship of the Parties
	  	 	12	  
		
	 ARTICLE 7: OILTANKING PARTIES RELEASES
	  	 	13	  

 Exhibit A — Definitions 

  
 -ii- 

 EIGHTH AMENDED AND RESTATED 

ADMINISTRATIVE SERVICES AGREEMENT 

THIS EIGHTH AMENDED AND RESTATED ADMINISTRATIVE SERVICES AGREEMENT (this “Agreement”) is entered into and effective
February 13, 2015 (the “Effective Date”), by and among: (i) Enterprise Products Company, a Texas corporation (“EPCO”), and EPCO Holdings, Inc., a Delaware corporation (“EPCO Holdings”);
(ii) Enterprise Products Holdings LLC, a Delaware limited liability company (formerly named EPE Holdings, LLC) and the current general partner of EPD (as defined below) (the “General Partner”), Enterprise Products Partners
L.P., a Delaware limited partnership (“EPD”), Enterprise Products Operating LLC, a Texas limited liability company (“EPOLLC”), and Enterprise Products OLPGP, Inc., a Delaware corporation and the managing member of
EPOLLC; and (iii) for purposes of the termination and releases set forth in Article 7 only, OTLP GP, LLC, a Delaware limited liability company and the general partner of Oiltanking (as defined below) (“OTLP GP”), and Oiltanking
Partners, L.P., a Delaware limited partnership (“Oiltanking”, and OTLP GP and Oiltanking collectively, the “Oiltanking Parties”). Capitalized terms not otherwise defined below have the meanings ascribed to such
terms as set forth on Exhibit A to this Agreement. 
 R E C I T A L S 

The purpose of this Agreement is to amend and restate, in its entirety, that certain Seventh Amended and Restated Administrative Services
Agreement, as amended on October 17, 2014 and effective as of October 1, 2014 (the “Seventh Amendment”) and in particular, after giving effect to certain transactions since the date of the Seventh Amendment whereby
Oiltanking has become a wholly-owned subsidiary of EPD, to terminate and release each of the Oiltanking Parties under this Agreement from its obligations to the other parties under the Seventh Amendment, for the MLP Group to assume any prior
obligations of the Oiltanking Parties under the Seventh Amendment to EPCO or the EPCO Group, and for the Oiltanking Parties to terminate and release the obligations of the other Parties to the Oiltanking Parties under the Seventh Amendment. 

The Parties hereto desire, by their execution of this Agreement, to evidence the terms and conditions pursuant to which (i) the EPCO
Group will provide certain services to the MLP Group on and after the Effective Date and (ii) a variety of additional matters will be handled among the EPCO Group and the MLP Group on and after the Effective Date. 

A G R E E M E N T S 
 NOW,
THEREFORE, in consideration of the premises and the covenants, conditions, and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto hereby agree
as follows: 

  
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 ARTICLE 1: DEFINITIONS 

1.1 Definitions. The definitions listed on Exhibit A shall be for all purposes, unless otherwise clearly indicated to the
contrary, applied to the terms used in this Agreement. 
 1.2 Construction. Unless the context requires otherwise: (a) any
pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (b) references to Articles and Sections refer to
Articles and Sections of this Agreement; (c) the terms “include”, “includes”, “including” or words of like import shall be deemed to be followed by the words “without limitation”; and (d) the terms
“hereof”, “herein” or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement. The table of contents and headings contained in this Agreement are for reference purposes only,
and shall not affect in any way the meaning or interpretation of this Agreement. 
 ARTICLE 2: SERVICES 

2.1 EPCO Services. 

(a) During the Term, subject to the terms of this Article 2 and in exchange for the reimbursement described in Section 2.2,
the EPCO Group hereby agrees to provide the MLP Group with such selling, general and administrative services and such management and operating services as directed by the General Partner, and as may be necessary to manage and operate the business,
properties and assets of the MLP Group in accordance with Prudent Industry Practices; it being understood and agreed by the Parties that in connection with the provision of such services, EPCO shall employ or otherwise retain the services of such
personnel as may be necessary to cause the business, properties and assets of the MLP Group to be so managed and operated (individually, an “EPCO Service” and, collectively, the “EPCO Services”). 

(b) Notwithstanding anything to the contrary in this Agreement, the Parties recognize and agree that the General Partner, along with any
required approval of its Audit and Conflicts Committee, shall have the exclusive authority to appoint an independent accounting firm to audit the financial statements of the MLP Group. 

2.2 EPCO Compensation. As compensation for the provision by the EPCO Group of the EPCO Services to each member of the MLP Group, the
EPCO Group shall be entitled to receive, and the General Partner agrees to cause EPD or EPOLLC to pay to the applicable member of the EPCO Group, without duplication, an amount equal to the sum of all costs and expenses (direct or indirect) incurred
by such member of the EPCO Group which are directly or indirectly related to the business or activities of the MLP Group (including, without limitation, expenses, direct or indirect, reasonably allocated to the MLP Group by the EPCO Group). In
addition, the General Partner shall cause EPD or EPOLLC to pay all sales, use, excise, value added or similar taxes (together with any penalties, fines or interest thereon), if any, that may be applicable from time to time in

  
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respect of the EPCO Services provided to the MLP Group by the EPCO Group. The aggregate amount payable by the MLP Group to the EPCO Group pursuant to this Section 2.2 with respect to
a given period of time shall be referred to herein as the “Administrative Services Fee”. It is the intention of the Parties that the Administrative Services Fee with respect to the MLP Group represents fair and reasonable
compensation to the EPCO Group for the MLP Group’s allocable share of all general and administrative expenses, capital expenses and other costs for Shared Services borne or performed by the EPCO Group for the benefit of any member of the MLP
Group. 
 2.3 Dispute Regarding Services or Calculation of Costs. Should there be a dispute over the nature or quality of the EPCO
Services, or the calculation and allocation of any Administrative Services Fee, relating to any of the EPCO Services, EPCO and the General Partner, on behalf of the MLP Group, shall first attempt to resolve such dispute, acting diligently and in
good faith, using the past practices of such Parties and documentary evidence of costs as guidelines for such resolution. If EPCO and the General Partner are unable to resolve any such dispute within thirty days, or such additional time as may be
reasonable under the circumstances, the dispute shall be referred to the Audit and Conflicts Committee. EPCO shall provide to the General Partner a quarterly statement indicating the total EPCO Group costs and expenses allocated to all of the MLP
Group and a detailed statement of the EPCO Group costs and expenses that are allocated to the MLP Group and representative of the MLP Group’s Administrative Service Fee (including an explanation of such allocation, which shall generally be
consistent from period to period). The Parties agree that the Audit and Conflicts Committee shall have the authority to settle any such dispute, in its sole discretion, recognizing that it is the intent of all Parties that all shared expenses or
services be allocated among the EPCO Group and the MLP Group on a fair and reasonable basis. 
 2.4 Invoices. EPCO shall invoice the
appropriate member of the MLP Group (in care of the General Partner, as billing agent for the MLP Group (the “Billing Agent”)) on or before the last day of each month for the estimated Administrative Services Fee expected to be
incurred by the EPCO Group for the next succeeding month, plus or minus any adjustment necessary to correct prior estimated billings to actual billings. All invoices shall be due and payable on the last day of the month which the invoice covers.
Upon request from the Billing Agent, EPCO shall furnish in reasonable detail a description of the EPCO Services performed by the EPCO Group for the MLP Group during any month or other relevant period. 

2.5 Disputes; Default. Notwithstanding any provision of this Article 2 to the contrary, should the General Partner fail to cause
EPD or EPOLLC to pay to EPCO, as agent for, and acting on behalf of, the EPCO Group, when due, any amounts owing in respect of the applicable EPCO Services, except as set forth in the third succeeding sentence, upon 30 days’ notice, EPCO, as
agent for, and acting on behalf of, the EPCO Group, may terminate this Article 2 as to those EPCO Services that relate to the unpaid portion of the invoice. Should there be a dispute as to the propriety of invoiced amounts, the Billing Agent
shall cause EPD or EPOLLC to pay all undisputed amounts on each invoice, but shall be entitled to withhold payment of any amount in dispute and shall 

  
 3 

 
promptly notify EPCO of such disputed amount. EPCO shall promptly provide the Billing Agent with records relating to the disputed amount so as to enable EPCO and the General Partner to resolve
the dispute. So long as such parties are attempting in good faith to resolve the dispute, EPCO shall not be entitled to terminate the EPCO Services that relate to the disputed amount. 

2.6 Input Regarding EPCO Services. Any records, information or other input from the MLP Group that is necessary for the EPCO Group to
perform any EPCO Services shall be submitted, upon EPCO’s written request therefor to the General Partner, to EPCO, as agent for, and on behalf of, the EPCO Group, by the MLP Group. If the MLP Group fails to supply such records, information or
other input to EPCO and such failure renders the EPCO Group’s performance of any EPCO Services unreasonably difficult, in EPCO’s reasonable judgment, EPCO, as agent for, and acting on behalf of, the EPCO Group, upon reasonable notice to
the General Partner, may refuse to perform such EPCO Services until such records, information or other input is supplied. 
 2.7
Limitation Regarding EPCO Services. The MLP Group Parties hereto acknowledge that the EPCO Group shall only be required to perform and provide (i) those EPCO Services with respect to the business of the MLP Group as operated on the
Effective Date, and (ii) such additional EPCO Services as may be mutually agreed orally or in writing by EPCO and the General Partner (or other members of the MLP Group), which agreement regarding additional or fewer EPCO Services shall reflect
an appropriate adjustment to the applicable Administrative Services Fee. The EPCO Group shall not be required to perform any EPCO Services hereunder for the benefit of any Person other than the MLP Group. 

2.8 Representations Regarding Use of Services. The MLP Group Parties hereto represent and agree that they will use (and cause any other
MLP Group members controlled by them to use) the EPCO Services only in accordance with all applicable federal, state and local laws and regulations, and in accordance with the reasonable conditions, rules, regulations, and specifications that may be
set forth in any manuals, materials, documents, or instructions furnished from time to time by the EPCO Group to the MLP Group. EPCO, as agent for, and acting on behalf of, the EPCO Group, reserves the right to take all actions, including, without
limitation, termination of any portion of the EPCO Services for the MLP Group that it reasonably believes is required to be terminated in order to assure compliance with applicable laws and regulations. 

2.9 Disclaimer of Warranties; Limitation of Liability. (a) The EPCO Services shall be provided in accordance with the Services
Standard. EXCEPT AS SET FORTH IN THE PRECEDING SENTENCE, THE EPCO GROUP MAKES NO (AND HEREBY DISCLAIMS AND NEGATES ANY AND ALL) WARRANTIES, CONDITIONS OR REPRESENTATIONS WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE EPCO SERVICES, INCLUDING
ANY AND ALL IMPLIED WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS OR SUITABILITY FOR ANY PURPOSE (WHETHER THE EPCO GROUP KNOWS, HAS REASON TO KNOW, HAS BEEN ADVISED, OR IS OTHERWISE IN FACT AWARE OF ANY SUCH PURPOSE) WHETHER ALLEGED TO
ARISE BY 

  
 4 

 
LAW, BY REASON OF CUSTOM OR USAGE IN THE TRADE OR BY COURSE OF DEALING. HOWEVER, IN THE CASE OF OUTSOURCED SERVICES PROVIDED SOLELY FOR THE MLP GROUP, IF THE THIRD-PARTY PROVIDER OF SUCH SERVICES
MAKES AN EXPRESS WARRANTY TO THE MLP GROUP, THE GENERAL PARTNER IS ENTITLED TO CAUSE THE EPCO GROUP TO RELY ON AND TO ENFORCE SUCH WARRANTY. 

(b) IN NO EVENT SHALL THE EPCO GROUP OR ANY EPCO GROUP PARTY’S RESPECTIVE AFFILIATES BE LIABLE TO ANY OF THE PERSONS RECEIVING ANY EPCO
SERVICES OR TO ANY OTHER PERSON FOR ANY EXEMPLARY, PUNITIVE, INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES RESULTING FROM ANY ERROR IN THE PERFORMANCE OF SUCH SERVICE, REGARDLESS OF WHETHER THE PERSON PROVIDING SUCH SERVICE, ITS
AFFILIATES, OR OTHERS MAY BE WHOLLY, CONCURRENTLY, PARTIALLY, OR SOLELY NEGLIGENT OR OTHERWISE AT FAULT, EXCEPT TO THE EXTENT SUCH EXEMPLARY, PUNITIVE, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR SPECIAL DAMAGES ARE PAID BY THE PARTY INCURRING SUCH
DAMAGES TO A THIRD PARTY. 
 2.10 Force Majeure. The EPCO Group shall have no obligation to perform the EPCO Services, and shall not
be liable for any expense, loss or damage whatsoever arising out of any interruption, delay or failure to perform any EPCO Services under this Agreement, if its failure to do so is caused by or results from any act of God, governmental action
(including any nation, state, territory, province or other political subdivision thereof), natural disaster, strike, riot, failure of essential equipment, act of a public enemy, act of terrorism, or any other cause or circumstance, whether similar
or dissimilar to the foregoing causes or circumstances, beyond the reasonable control of the EPCO Group. In any such event, the EPCO Group’s obligations hereunder shall be postponed for such time as its performance is suspended or delayed on
account thereof. EPCO, as agent for, and acting on behalf of the EPCO Group, will promptly notify the MLP Group, either orally or in writing, upon learning of the occurrence of such event of force majeure. Upon the cessation of the force majeure
event, the EPCO Group will use its commercially reasonable efforts to resume its performance with the least practicable delay. 
 2.11
Affiliates. At its election, an EPCO Group Party may cause one or more of its Affiliates or third party contractors reasonably acceptable to the General Partner to provide any such EPCO Service; provided, however, EPCO shall remain
responsible for the provision of such EPCO Service in accordance with this Agreement. 
 2.12 Term and Termination. 

(a) In addition to the termination of particular EPCO Services as provided in Section 2.5, the EPCO Group may exclude any
particular services from the scope of EPCO Services at any time without penalty by giving notice of such termination to the other Parties, with the effective date being not less than 60 days following notice of any exclusion of particular services
or such other effective date as may be agreed upon by the Parties. 

  
 5 

 (b) EPCO and EPCO Holdings, on behalf of the EPCO Group, may terminate this Agreement at any time
without penalty by giving notice of such termination to the other Parties, with the effective date being not less than 180 days following notice of termination, or such other effective date as may be agreed upon by the Parties. 

(c) EPCO and EPCO Holdings, on behalf of the EPCO Group, may terminate this Agreement at any time upon the MLP Group’s material breach of
this Agreement, if (i) such breach is not remedied within 45 days (or 30 days in the event of a material breach arising out of the failure to make payment hereunder) after the General Partner’s receipt of written notice thereof, or such
longer period as is reasonably required to cure such breach, provided that the General Partner commences or causes the MLP Group to cure such breach, and (ii) such breach is continuing at the time notice of termination is delivered to the
General Partner. 
 (d) The General Partner may terminate this Agreement at any time upon the EPCO Group’s material breach of this
Agreement, if (i) such breach is not remedied within 45 days (or 30 days in the event of a material breach arising out of the failure to make payment hereunder) after EPCO’s receipt (on behalf of the EPCO Group) of written notice thereof,
or such longer period as is reasonably required to cure such breach, provided that the EPCO Group commences to cure such breach, and (ii) such breach is continuing at the time notice of termination is delivered to EPCO (acting on behalf of the
EPCO Group). 
 (e) If this Agreement is terminated in accordance with this Section 2.12 or otherwise at the end of the Term,
all rights and obligations under this Agreement shall cease except for (i) obligations that expressly survive termination of this Agreement, (ii) liabilities and obligations that have accrued prior to such termination, and (iii) the
obligation to pay any portion of amounts payable under Article 2 and under Section 5.3(b) (if applicable) that have accrued prior to such termination, even if such amounts have not become due and payable at that time. 

(f) The provisions of Article 2 (with respect to unpaid amounts hereunder), Section 2.2, Article 3, Article
4, Section 5.3(b) (with respect to any unpaid amounts hereunder) and Article 6 shall survive the termination of this Agreement. 

ARTICLE 3: OWNERSHIP OF WORK PRODUCT; AUDIT RIGHTS: DISCLOSURE OF COMPENSATION 

3.1 Ownership of Work Product. 

(a) The work produced by the EPCO Group under the terms of this Agreement in connection with the performance of the EPCO Services, including,
without limitation, all work papers, drafts, notes, reports, extracts and other written or electronic recordings, developed in connection with the EPCO Services hereunder, but excluding, 

  
 6 

 
without limitation, the books and records of the EPCO Group not relating to the performance of the EPCO Services (the “Work Product”), shall be the property of the MLP Group. The
EPCO Group shall have no right or interest in such Work Product, but the EPCO Group (i) shall be and is hereby granted an irrevocable, royalty-free, non-exclusive and non-transferable right and license to use and maintain originals or copies of
such Work Product (A) to perform the EPCO Services hereunder and (B) in connection with any other books and records required to be maintained by the EPCO Group under applicable tax, accounting, or other regulatory requirements, or for
other permitted EPCO Group business purposes, and (ii) may share MLP Group information and any Work Product with its Affiliates, agents and representatives as reasonably necessary to perform the EPCO Services, all in accordance with the
limitations, duties and obligations imposed by this Agreement, including this Section 3.1. 
 (b) Each of the Parties
acknowledges and agrees that a breach by it of its obligations under this Section 3.1 would cause irreparable harm to the other Parties and that monetary damages would not be adequate to compensate the harmed Parties. Accordingly, the
breaching Parties agree that the harmed Parties shall be entitled to immediate equitable relief, including a temporary or permanent injunction, to prevent any threatened, likely or ongoing violation by the breaching Parties, without the necessity of
posting bond or other security. Each of the harmed Parties’ right to equitable relief shall be in addition to other rights and remedies available to the harmed Parties for monetary damages or otherwise to the extent permitted under this
Agreement. 
 3.2 Audit Rights. At any time during the Term and for one year thereafter, to the extent necessary to verify the
performance by the EPCO Group of its obligations under this Agreement, the General Partner, on behalf of the MLP Group, shall have the right, at the MLP Group’s expense, to audit, examine and make copies of the books and records of the EPCO
Group relating to the provision of EPCO Services and the determination of the Administrative Services Fee (the “Audit Right”). The General Partner may exercise the Audit Right through any agent or employee of the General Partner or
such auditors as the General Partner may determine in its sole discretion. The General Partner shall (i) exercise the Audit Right only upon reasonable notice to EPCO during normal business hours and (ii) use its reasonable efforts to
conduct the Audit Right in such a manner as to minimize the inconvenience and disruption to EPCO. 
 3.3 Disclosure of Compensation.
EPCO, on behalf of the EPCO Group, shall disclose to the General Partner the amount of compensation or other remuneration of any EPCO Group employees who are executive officers or directors of the General Partner or EPD, to the extent required for
the MLP Group to comply with the requirements of applicable law, including applicable Federal securities laws. 
 ARTICLE 4:
INDEMNIFICATION 
 4.1 Indemnification by EPCO. 

(a) From and after the date hereof and subject to the remaining provisions of this Section 4.1, EPCO, on behalf of the EPCO Group,
shall indemnify, 

  
 7 

 
defend and hold harmless the MLP Group from and against any loss, cost, claim, liability, prepayment or similar penalty, damage, expense, attorneys’ fees, judgment, award or settlement of
any kind or nature whatsoever (other than out-of-pocket costs and expenses incurred by the MLP Group in connection with the discharge by the EPCO Group of the EPCO Group’s obligations pursuant to Section 4.1(c)) (collectively,
“Losses”) incurred by the MLP Group in connection with the Excluded Liabilities; provided, however, in no event shall such indemnification obligation, or the term “Losses,” cover or include exemplary,
punitive, special, consequential, indirect, or incidental damages or lost profits suffered by the MLP Group in connection with the Excluded Liabilities, except to the extent such exemplary, punitive, special, consequential, indirect or incidental
damages or lost profits are actually paid by any member of the MLP Group to a third party. 
 (b) The EPCO Group, shall have the right to
control all aspects of the defense of any claims (and any counterclaims) related to the Excluded Liabilities, including, without limitation, the selection of counsel, determination of whether to appeal any decision of any court and the settling of
any such matter or any issues relating thereto; provided, however, that no such settlement shall be entered into without the consent of the General Partner, on behalf of the MLP Group, unless (i) it includes a full release of the
applicable members of the MLP Group from such matter or issues, as the case may be, or (ii) following such settlement there is no realistic scenario under which the MLP Group could be held liable for such matter or issues. 

(c) The MLP Group Parties hereto agree, at their own cost and expense, to cooperate fully with the EPCO Group with respect to all aspects of
the defense of any claims related to the Excluded Liabilities, including, without limitation, the prompt furnishing to the EPCO Group of any correspondence or other notice relating thereto that any member of the MLP Group may receive, permitting the
names of the applicable members of the MLP Group to be utilized in connection with such defense and the making available to the EPCO Group of any files, records or other information of the MLP Group that EPCO, on behalf of the EPCO Group, considers
relevant to such defense; provided, however, that in connection therewith the EPCO Group agrees to use reasonable efforts to minimize the impact thereof on the operations of the MLP Group. In no event shall the obligation of the MLP
Group to cooperate with the EPCO Group as set forth in the immediately preceding sentence be construed as imposing upon the MLP Group an obligation to hire and pay for counsel in connection with the defense of any claims related to the Excluded
Liabilities. 
 4.2 Indemnification by EPD, EPOLLC and MLP Group Parties. Each MLP Group Party, jointly and severally, hereby agrees
to indemnify, defend and hold harmless EPCO and its stockholders and Affiliates and their respective directors, managers, officers, employees and agents (each an “EPCO Indemnified Party” and, collectively, the “EPCO
Indemnified Parties”) from and against any loss, cost, claim, liability, prepayment or similar penalty, damage, expense, attorneys’ fees, judgment, award or settlement of any kind or nature whatsoever (collectively, “EPCO
Losses”) incurred by one or more of the EPCO Indemnified Parties, whether based on contract, tort, or pursuant to any statute, rule or regulation, and regardless of whether the EPCO Losses are foreseeable or unforeseeable, all to the extent
that such EPCO Losses are in 

  
 8 

 
respect of or arise from claims by a third party relating to (i) any acts or omissions of the EPCO Indemnified Parties in connection with furnishing, or failing to furnish, any of the EPCO
Services, solely to the extent that (x) such acts or omissions were performed for the benefit of any member of the MLP Group, and (y) such EPCO Services were performed in accordance with the Services Standard; provided, that the MLP
Group Parties shall not be obligated to indemnify or hold harmless the EPCO Indemnified Parties from and against any EPCO Losses to the extent they result from the gross negligence or willful misconduct of any EPCO Indemnified Party; and
provided, further, in no event shall such indemnification obligation, or the term “EPCO Losses,” cover or include exemplary, punitive, special, consequential, indirect, or incidental damages or lost profits suffered by
the EPCO Indemnified Parties in connection with the EPCO Services, except to the extent such exemplary, punitive, special, consequential, indirect or incidental damages or lost profits are actually paid by the EPCO Indemnified Party to a third
party. 
 4.3 Negligence; Strict Liability. Except as expressly provided in Section 4.2, the defense and indemnity
obligations in Section 4.2 shall apply regardless of cause or negligent acts or omissions (including sole negligence, concurrent negligence or strict liability), breach of duty (statutory or otherwise), violation of law or other fault of
any indemnified Party, or any pre-existing defect; provided, however, that this provision shall not apply to the gross negligence or willful misconduct of any indemnified Party or in any way limit or alter
any qualifications set forth in such defense and indemnity obligations expressly relating to gross negligence, willful misconduct or breach of this agreement. The Parties agree that this statement complies with the requirement known as the
“express negligence rule” to expressly state in a conspicuous manner and to afford fair and adequate notice that this article has provisions requiring one Party to be responsible for the negligence, strict liability or other fault of
another Party. 
 ARTICLE 5: OTHER AGREEMENTS 

5.1 Insurance Matters. EPCO, on behalf of the EPCO Group, hereby agrees to cause the MLP Group Parties to be named as insureds or
additional insureds in the EPCO Group’s insurance program, as in effect from time to time, other than with respect to workers’ compensation coverage. Subject to Section 2.5, each member of the MLP Group shall be allocated, and
pay for, such insurance coverage in an amount equal to the EPCO Group’s cost of insuring the assets and operations of such entities. 

5.2 EPCO’s Employees. 

(a) The obligation of the Billing Agent to cause EPD or EPOLLC to pay the Administrative Services Fee shall, as such obligation relates to the
EPCO Group’s expenses incurred to compensate its employees and retained third parties providing the EPCO Services, reimburse the EPCO Group for the appropriate pro rata cost of such employees’ compensation and benefits, including
without limitation salaries, wages, bonuses, benefits, social security and other taxes, workers compensation insurance, retirement and insurance benefits, training, and all other direct and indirect 

  
 9 

 
costs incurred by the EPCO Group with respect to providing such employee compensation and benefits and third party costs. The Billing Agent shall not be obligated to cause EPD or EPOLLC to pay
any amount directly to EPCO’s employees or any retained third party; provided, however, if the EPCO Group ever fails to pay any employee or any retained third party providing EPCO Services within 30 days following the date such
employee’s or such retained third party’s payment is due: 
 (i) the Billing Agent or any Affiliate of the Billing
Agent may, but shall not be required to, (w) pay such employee or retained third party directly, (x) employ such employee or retained third party directly, (y) notify EPCO, acting as agent for, and on behalf of, the EPCO Group, and
begin to pay all employees or retained third parties providing EPCO Services directly, or (z) notify EPCO, acting as agent for, and on behalf of, the EPCO Group, that the portion of this Agreement relating to the EPCO Services is terminated and
employ directly any or all of such employees or retained third parties, or employ or retain such other individuals and entities as the Billing Agent and the Billing Agent’s Affiliates may choose in their sole discretion, and 

(ii) EPCO, on behalf of the EPCO Group, shall reimburse the Billing Agent for any amount that the Billing Agent or the Billing
Agent’s Affiliate paid to the EPCO Group, for the EPCO Group’s employees and retained third parties providing the EPCO Services, that the EPCO Group did not pay to, or on behalf of, such employees or retained third parties. 

(b) Notwithstanding anything in Section 5.2(a) to the contrary, the General Partner shall have the right, at any time upon at
least 90 days’ notice to EPCO, on behalf of the EPCO Group, to terminate the portion of this Agreement relating to the EPCO Services and to employ any or all of EPCO’s employees and retained third parties providing the EPCO Services
directly, or employ or retain such other individuals and entities as the General Partner or its Affiliates may choose in its sole discretion. 

5.3 EPCO Group License and Participation in MLP Group Agreements. 

(a) EPD and EPOLLC hereby grant, and will cause their MLP Group Affiliates to grant, to EPCO and its Affiliates an irrevocable, royalty-fee,
non-exclusive and non-transferable right and license to use, during the term of this Agreement, any intellectual property provided by EPD, EPOLLC or their Affiliates to the extent used in the performance of the EPCO Services or, if requested by
EPCO, to an extent not used in the performance of the EPCO Services. EPCO agrees that EPCO and its Affiliates will reimburse the MLP Group for its pro rata share of all costs and expenses (direct and indirect) associated with such licenses to the
extent used by EPCO or its Affiliates in the business of EPCO and its Affiliates. 
 (b) To the extent reasonably requested by EPCO, on
behalf of the EPCO Group, EPD or EPOLLC shall cause Shared Services or materials provided under MLP Group agreements or contracts to be provided to the EPCO Group, provided EPCO, on behalf of the EPCO Group, agrees to reimburse the MLP Group for its
pro rata share of all costs and expenses (direct or indirect) associated with such services or materials under the MLP Group agreements. 

  
 10 

 ARTICLE 6: MISCELLANEOUS 

6.1 Choice of Law; Submission to Jurisdiction. This Agreement shall be subject to and governed by the laws of the State of Texas. Each
Party hereby submits to the exclusive jurisdiction of the state and federal courts in the State of Texas and to exclusive venue in Houston, Harris County, Texas. 

6.2 Notices. All notices, requests or consents provided for or permitted to be given pursuant to this Agreement must be in writing and
must be given (a) by depositing same in the United States mail or by nationally recognized overnight courier, addressed to the Party to be notified, postpaid and registered or certified with return receipt requested, (b) by delivering such
notice in person or (c) by facsimile to such Party. Notice given by personal delivery, mail or overnight courier shall be effective upon actual receipt. Notice given by facsimile shall be effective upon actual receipt if received during the
recipient’s normal business hours, or at the beginning of the recipient’s next business day after receipt if not received during the recipient’s normal business hours. All notices to be sent to a Party pursuant to this Agreement shall
be sent to or made at the address set forth below such Party’s signature to this Agreement, or at such other address as such Party may stipulate to the other Parties in the manner provided in this Section 6.2; provided, that
any notices required to be delivered to any Party that is a member of the MLP Group shall be deemed delivered by delivery of such notice to the General Partner. 

6.3 Entire Agreement; Supersedure. This Agreement constitutes the entire agreement of the Parties relating to the matters contained
herein, superseding all prior contracts or agreements among the parties, whether oral or written, relating to the matters contained herein. 

6.4 Effect of Waiver of Consent. No Party’s express or implied waiver of, or consent to, any breach or default by any Party in the
performance by such Party of its obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance by such Party of the same or any other obligations of such Party hereunder. Failure
on the part of a Party to complain of any act of any Party or to declare any Party in default, irrespective of how long such failure continues, shall not constitute a waiver by such Party of its rights hereunder until the applicable statute of
limitations period has run. 
 6.5 Amendment or Modification. This Agreement may be amended or modified from time to time only by the
agreement of all the Parties affected by any such amendment; provided, however, that EPD may not, without the prior approval of its Audit and Conflicts Committee, agree to any amendment or modification of this Agreement that, in the
reasonable discretion of the General Partner will materially and adversely affect the holders of units of EPD. 

  
 11 

 6.6 Assignment. This Agreement may not be assigned by any Party without the consent of all
of the other Parties; provided, EPCO may delegate its obligations hereunder in accordance with Section 2.11 above. 

6.7 Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all Parties had signed the
same document. All counterparts shall be construed together and shall constitute one and the same instrument. 
 6.8 Severability. If
any provision of this Agreement or the application thereof to any Party or circumstance shall be held invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to other Parties or circumstances
shall not be affected thereby and shall be enforced to the greatest extent permitted by law. 
 6.9 Further Assurances. In connection
with this Agreement and all transactions contemplated by this Agreement, each Party hereto agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate,
carry out and perform all of the terms, provisions and conditions of this Agreement and all such transactions. 
 6.10 Withholding or
Granting of Consent. Unless the consent or approval of a Party is expressly required not to be unreasonably withheld (or words to similar effect), each Party may, with respect to any consent or approval that it is entitled to grant pursuant to
this Agreement, grant or withhold such consent or approval in its sole and uncontrolled discretion, with or without cause, and subject to such conditions as it shall deem appropriate. 

6.11 U.S. Currency. All sums and amounts payable or to be payable pursuant to the provisions of this Agreement shall be payable in coin
or currency of the United States of America that, at the time of payment, is legal tender for the payment of public and private debts in the United States of America. 

6.12 Laws and Regulations. Notwithstanding any provision of this Agreement to the contrary, no Party hereto shall be required to take
any act, or fail to take any act, under this Agreement if the effect thereof would be to cause such Party to be in violation of any applicable law, statute, rule or regulation. 

6.13 Negation of Rights of Third Parties. The provisions of this Agreement are enforceable solely by the Parties, and no limited
partner of EPD or other Person shall have the right to enforce any provision of this Agreement, or to bring any claim, cause of action or seek any remedy or any right of any kind, or to compel any Party to comply with the terms of this Agreement.

 6.14 No Recourse Against Officers, Directors, Managers or Employees. For the avoidance of doubt, the provisions of this Agreement
shall not give rise to any right of recourse against any officer, director, manager or employee of EPCO, the General Partner or their respective Affiliates. 

6.15 Relationship of the Parties. Nothing in this Agreement shall be construed to create a partnership or joint venture or give rise to
a fiduciary or similar relationship of any kind. 

  
 12 

 ARTICLE 7: OILTANKING PARTIES RELEASES 

As consideration for the releases in the following sentence, each of the Oiltanking Parties hereby agrees that (a) all of its rights
under the Seventh Amendment are hereby terminated, (b) all of the obligations of the other Parties to such Oiltanking Parties are hereby terminated, and (c) such other Parties are released from any further obligations or liabilities to the
Oiltanking Parties under the Seventh Amendment. As consideration for the releases in the foregoing sentence, each of the Parties (other than the Oiltanking Parties) hereby agrees that the (x) obligations of each of the Oiltanking Parties to
such Party under the Seventh Amendment are hereby terminated, and (y) that each of the Oiltanking Parties is hereby released from any further obligations or liabilities to such Party under the Seventh Amendment, in each case other than
liabilities and obligations of the Oiltanking Parties (including the obligation to pay amounts payable under Article 2) that have accrued prior to such termination, to the extent such liabilities and obligations have not otherwise been
assumed by or become liabilities and obligations of the other MLP Group Parties prior to the Effective Date. 
 [SIGNATURE PAGES FOLLOW] 

  
 13 

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

			
	ENTERPRISE PRODUCTS COMPANY
		
	By:	 	 /s/ Richard H. Bachmann

	Name:	 	Richard H. Bachmann
	Title:	 	President and Chief Executive Officer
	
	 Address for Notice:
  

1100 Louisiana, 10th Floor
 Houston, Texas 77002

Facsimile No.: (713) 381-8200

	
	EPCO HOLDINGS, INC.
		
	By:	 	 /s/ Richard H. Bachmann

	Name:	 	Richard H. Bachmann
	Title:	 	President and Chief Executive Officer
	
	 Address for Notice:
  

1100 Louisiana, 10th Floor
 Houston, Texas 77002

Facsimile No.: (713) 381-6500

  
 Signature Page to
Eighth Amended and Restated 
 Administrative Services Agreement 

 
			
	ENTERPRISE PRODUCTS PARTNERS L.P.
	
	 ENTERPRISE PRODUCTS HOLDINGS LLC,

Individually and as Sole General Partner of
 Enterprise Products
Partners L.P.

	
	ENTERPRISE PRODUCTS OPERATING LLC
	
	 ENTERPRISE PRODUCTS OLPGP, INC.,

Individually and as Sole Manager of
 Enterprise Products Operating
LLC

		
	By:	 	 /s/ Michael A. Creel

		 	Michael A. Creel
		 	Chief Executive Officer
	
	 Address for Notice:
  

1100 Louisiana, 10th Floor
 Houston, Texas 77002

Facsimile No.: (713) 381-8200

  
 Signature Page to
Eighth Amended and Restated 
 Administrative Services Agreement 

 
			
	(for purposes of Article 7 only)
	
	OILTANKING PARTNERS, L.P.
	
	 OTLP GP, LLC
 Individually
and as Sole General Partner of Oiltanking Partners, L.P.

		
	By:	 	 /s/ W. Randall Fowler

		 	W. Randall Fowler
		 	 Executive Vice President and Chief Financial

Officer

	
	 Address for Notice:
  

1100 Louisiana, 10th Floor
 Houston, Texas 77002

Facsimile No.: (713) 381-8200

  
 Signature Page to
Eighth Amended and Restated 
 Administrative Services Agreement 

 Exhibit A 

DEFINED TERMS 

“Administrative Services Fee” shall have the meaning set forth in Section 2.2. 

“Affiliate” shall mean, with respect to any Person, any other Person that directly or indirectly through one or more
intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the
management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. Without limiting the foregoing, with respect to EPCO, Dan Duncan LLC (or any successor entity) shall be deemed an “Affiliate” of
EPCO at any time either (i) a majority of the managers of Dan Duncan LLC are the same individual persons as the directors of EPCO or (ii) a majority of any voting trustees under any voting trust that controls a majority of the equity
interests entitled to vote in the election of directors and managers of EPCO and Dan Duncan LLC are the same persons. 

“Agreement” shall mean this Eighth Amended and Restated Administrative Services Agreement, as it may be amended, modified, or
supplemented from time to time. 
 “Audit and Conflicts Committee” means a committee of the Board of the General Partner,
composed entirely of three or more directors who meet the independence, qualification and experience requirements established by the Securities Exchange Act and the rules and regulations of the Commission thereunder and by The New York Stock
Exchange, and, to the extent required under the Partnership Agreement, at least two of whom also meet the S&P Criteria. 

“Audit Right” shall have the meaning set forth in Section 3.2. 

“Billing Agent” shall have the meaning set forth in Section 2.4. 

“Board” means the Board of Directors (or equivalent thereof) of the General Partner. 

“Commission” shall mean the United States Securities and Exchange Commission. 

“Effective Date” shall have the meaning set forth in the Preamble. 

“EPCO” shall have the meaning set forth in the Preamble. 

“EPCO Group” shall mean EPCO, EPCO Holdings and their respective wholly-owned subsidiaries. 

 “EPCO Group Parties” shall mean, individually and collectively, EPCO and EPCO
Holdings, and any other Person who is a member of the EPCO Group and is or becomes a Party to this Agreement after the Effective Date. 

“EPCO Holdings” shall have the meaning set forth in the Preamble. 

“EPCO Indemnified Party” shall have the meaning set forth in Section 4.2. 

“EPCO Losses” shall have the meaning set forth in Section 4.2. 

“EPCO Services” shall have the meaning set forth in Section 2.1(a). 

“EPD” shall have the meaning set forth in the Preamble. 

“EPOLLC” shall have the meaning set forth in the Preamble. 

“Excluded Liabilities” shall mean the following liabilities and obligations: 

(a) all indebtedness of EPCO and its Affiliates other than the MLP Group for borrowed money; and 

(b) any income tax liability of EPCO that may result from the consummation of the transactions contemplated by this Agreement, as may be
amended, or any predecessor agreement to this Agreement. 
 “General Partner” shall have the meaning set forth in the
Preamble. 
 “Independent Director” shall mean an individual who meets the independence, qualification and experience
requirements of The New York Stock Exchange. 
 “Losses” shall have the meaning set forth in Section 4.1. 

“MLP Group” shall mean, individually and collectively, the General Partner, EPD, EPOLLC and any Affiliate controlled (and
only so long as such Affiliates are controlled) by the General Partner, EPD or EPOLLC (as the term “control” is used in the definition of “Affiliate”). 

“MLP Group Parties” shall mean, individually and collectively, the General Partner, EPD and EPOLLC, and any other Person who
is a member of the MLP Group and is or becomes a Party to this Agreement after the Effective Date. 
 “Oiltanking” shall
have the meaning set forth in the Preamble. 
 “Oiltanking Parties” shall have the meaning set forth in the Preamble. 

“OTLP GP” shall have the meaning set forth in the Preamble. 

 “Partnership Agreement” shall mean the Sixth Amended and Restated Agreement of
Limited Partnership of EPD, dated as of November 22, 2010, as such agreement may be amended or restated as of the date of this Agreement or hereafter from time to time. 

“Party” shall mean any one of the Persons that executes this Agreement. 

“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization, association, government agency or political subdivision thereof or other entity. 
 “Prudent Industry
Practices” shall mean, at a particular time, any of the practices, methods and acts which, in the exercise of reasonable judgment, will result in the proper operation and maintenance of the assets owned by a Party or its Affiliates and
shall include, without limitation, the practices, methods and acts engaged in or approved by a significant portion of the industry at such time with respect to the assets of the same or similar types as the assets owned by such Party or its
Affiliates. Prudent Industry Practices are not intended to be limited to optimum practices, methods or acts, to the exclusion of all others, but rather represent a spectrum of possible practices, methods and acts which could have been expected to
accomplish the desired result at a commercially reasonable cost in a reliable, safe and timely fashion, in compliance with the applicable limited partnership agreement and limited liability company agreement and in compliance with all applicable
laws. Prudent Industry Practices are intended to entail the same standards as the Parties would, in the prudent management of their own properties, use from time to time. 

“S&P Criteria” shall mean a duly appointed member of the Audit and Conflicts Committee who had not been, at the time of
such appointment or at any time in the preceding five years, (a) a direct or indirect legal or beneficial owner of interests in EPD or any of its Affiliates (excluding de minimis ownership interests having a value of less than $1 million),
(b) a creditor, supplier, employee, officer, director, family member, manager or contractor of EPD or any of its Affiliates, or (c) a person who controls (whether directly, indirectly or otherwise) EPD or any of its Affiliates or any
creditor, supplier, employee, officer, director, manager or contractor of EPD or any of its Affiliates. 
 “Securities Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, supplemented or restated from time to time, and any successor to such statute. 

“Services Standard” shall mean, with respect to the performance of the EPCO Services, the good faith undertaking, on a
commercially reasonable basis, to perform the EPCO Services for the MLP Group, at least the same quality and manner as EPCO Services were provided by EPCO or its Affiliates to the MLP Group during the calendar year 2014 and in all material respects
in compliance with applicable laws and Prudent Industry Practices. 
 “Seventh Amendment” shall have the meaning set forth
in the Recitals. 

 “Shared Services” shall mean the performance of services for any one or more
than one of the entities comprising the EPCO Group and any one or more than one of the entities comprising the MLP Group. 

“Term” means the term of this Agreement, which is the period beginning on the Effective Date and ending on the earlier of
such time as (i) EPCO or its Affiliates cease to control, directly or indirectly, at least 50% of the voting interests of the General Partner or the General Partner is no longer the General Partner of EPD, and (ii) this Agreement is
otherwise terminated in accordance with Section 2.12. 
 “Work Product” shall have the meaning set forth in
Section 3.1.EX-10.15

 Exhibit 10.15 

ARTHUR J. GALLAGHER & CO. 

SUPPLEMENTAL SAVINGS and THRIFT PLAN 

As Amended and Restated Effective January 1, 2015 

 TABLE OF CONTENTS 

 

									
	 ARTICLE 1 INTRODUCTION
	  	 	1	  
				
		 	1.1.	    	Purpose of the Plan	  	 	1	  
				
		 	1.2.	    	Status of Plan	  	 	1	  
		
	 ARTICLE 2 DEFINITIONS
	  	 	1	  
				
		 	2.1.	    	“Accounts”	  	 	1	  
				
		 	2.2.	    	“Board”	  	 	1	  
				
		 	2.3.	    	“Cause”	  	 	1	  
				
		 	2.4.	    	“Change of Control”	  	 	1	  
				
		 	2.5.	    	“Code”	  	 	2	  
				
		 	2.6.	    	“Company”	  	 	2	  
				
		 	2.7.	    	“Compensation”	  	 	2	  
				
		 	2.8.	    	“Effective Date”	  	 	2	  
				
		 	2.9.	    	“Elective Deferral”	  	 	2	  
				
		 	2.10.	    	“Eligible Employee”	  	 	2	  
				
		 	2.11.	    	“Employer”	  	 	3	  
				
		 	2.12.	    	“ERISA”	  	 	3	  
				
		 	2.13.	    	“Funding Trust”	  	 	3	  
				
		 	2.14.	    	“Funding Trustee”	  	 	3	  
				
		 	2.15.	    	“Gallagher”	  	 	3	  
				
		 	2.16.	    	“Hour of Service”	  	 	3	  
				
		 	2.17.	    	“Insolvent”	  	 	3	  
				
		 	2.18.	    	“LTIC Program”	  	 	3	  
				
		 	2.19.	    	“Matching Deferral”	  	 	3	  
				
		 	2.20.	    	“Participant”	  	 	3	  
				
		 	2.21.	    	“Performance Deferral”	  	 	3	  
				
		 	2.22.	    	“Plan”	  	 	3	  
				
		 	2.23.	    	“Plan Administrator”	  	 	3	  
				
		 	2.24.	    	“Plan Year”	  	 	3	  

									
				
		 	2.25.	    	“Qualified Plan”	  	 	4	  
				
		 	2.26.	    	“Retirement”	  	 	4	  
				
		 	2.27.	    	“Scheduled Distribution Account”	  	 	4	  
				
		 	2.28.	    	“Separation from Service”	  	 	4	  
				
		 	2.29.	    	“Separation from Service Account”	  	 	4	  
				
		 	2.30.	    	“13-Month Rule”	  	 	4	  
				
		 	2.31.	    	“Unforeseeable Emergency”	  	 	4	  
		
	 ARTICLE 3 PARTICIPATION
	  	 	4	  
				
		 	3.1.	    	Commencement of Participation	  	 	4	  
				
		 	3.2.	    	Continued Participation	  	 	4	  
		
	 ARTICLE 4 ELECTIVE, MATCHING AND PERFORMANCE DEFERRALS
	  	 	5	  
				
		 	4.1.	    	Elective Deferrals	  	 	5	  
				
		 	4.2.	    	Matching Deferrals	  	 	8	  
				
		 	4.3.	    	Performance Deferrals	  	 	8	  
		
	 ARTICLE 5 ACCOUNTS
	  	 	9	  
				
		 	5.1.	    	Accounts	  	 	9	  
				
		 	5.2.	    	Investments	  	 	12	  
		
	 ARTICLE 6 VESTING
	  	 	13	  
				
		 	6.1.	    	General	  	 	13	  
				
		 	6.2.	    	Change of Control	  	 	14	  
				
		 	6.3.	    	Retirement, Death or Disability	  	 	14	  
				
		 	6.4.	    	Insolvency	  	 	14	  
				
		 	6.5.	    	13-Month Rule Compliance	  	 	14	  
		
	 ARTICLE 7 PAYMENTS
	  	 	14	  
				
		 	7.1.	    	Election as to Time and Form of Payment	  	 	14	  
				
		 	7.2.	    	Termination of Employment	  	 	16	  

									
				
		 	7.3.	    	Death	  	 	16	  
				
		 	7.4.	    	Withdrawal Due to Unforeseeable Emergency	  	 	16	  
				
		 	7.5.	    	Restrictive Covenants; Clawback	  	 	16	  
				
		 	7.6.	    	Taxes	  	 	18	  
		
	 ARTICLE 8 PLAN ADMINISTRATOR
	  	 	18	  
				
		 	8.1.	    	Plan Administration and Interpretation	  	 	18	  
				
		 	8.2.	    	Powers, Duties, Procedures, Etc.	  	 	18	  
				
		 	8.3.	    	Information	  	 	18	  
				
		 	8.4.	    	Indemnification of Plan Administrator	  	 	18	  
		
	 ARTICLE 9 AMENDMENT AND TERMINATION
	  	 	19	  
				
		 	9.1.	    	Amendments	  	 	19	  
				
		 	9.2.	    	Termination of Plan	  	 	19	  
				
		 	9.3.	    	Existing Rights	  	 	19	  
		
	 ARTICLE 10 MISCELLANEOUS
	  	 	19	  
				
		 	10.1.	    	No Funding	  	 	19	  
				
		 	10.2.	    	Non-assignability	  	 	20	  
				
		 	10.3.	    	Limitation of Participant’s Rights	  	 	20	  
				
		 	10.4.	    	Participants Bound	  	 	20	  
				
		 	10.5.	    	Receipt and Release	  	 	20	  
				
		 	10.6.	    	Compliance With Section 409A of Code	  	 	20	  
				
		 	10.7.	    	Governing Law	  	 	21	  
				
		 	10.8.	    	Severability	  	 	21	  
				
		 	10.9.	    	Headings and Subheadings	  	 	21	  

 ARTICLE 1 

Introduction 
 1.1. Purpose
of the Plan 
 The Company has adopted the Plan to provide a means by which certain employees may elect to defer receipt of portions of
their compensation and to provide opportunities for such individuals to save for retirement on the terms and conditions set forth herein. 

1.2. Status of Plan 
 The Plan
is intended to be “a plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of Sections
201(2), 301(a)(3) and 401(a)(I) of ERISA, and is further intended to comply with the requirements of Section 409A of the Code. The Plan shall be interpreted and administered consistently with such intent. The Plan was initially effective
January 1, 1999, was amended and restated effective January 1, 2008, was further amended effective July 1, 2009, was further amended and restated effective December 1, 2009 for certain clerical corrections, was further amended
and restated December 7, 2012 to allow investment of deferred monies in Gallagher Common Stock (as hereinafter defined), was further amended and restated January 21, 2014 to make certain administrative clarifications, and was further
amended and restated effective January 1, 2015. 
 ARTICLE 2 

Definitions 
 Wherever used
herein, the following terms have the meanings set forth below, unless a different meaning is clearly required by the context: 
 2.1.
“Accounts” mean, for each Participant, the Separation from Service Accounts and Scheduled Distribution Accounts established for his or her benefit under Section 5.1. 

2.2. “Board” means the Board of Directors of Gallagher. 

2.3. “Cause” means a Participant’s gross misconduct or a willful and material breach by a Participant of any agreement between
an Employer and the Participant; provided that no act or failure to act on the Participant’s part shall be deemed “willful” unless done, or omitted to be done, by the Participant not in good faith and without a reasonable belief that
the action or omission was in the best interest of the Employer. 
 2.4. “Change of Control” means: (i) any person or group,
as defined in Sections 13(d) and 14(d) (2) of the Securities Exchange Act of 1934, as amended, is or becomes the beneficial owner, directly or indirectly, of securities of Gallagher representing fifty percent (50%) or more of the combined
voting power of Gallagher’s outstanding securities then entitled to vote for the election of directors; or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors
of Gallagher (the “Board”) and any new directors whose election by the Board or nomination for election by Gallagher’s 

  
 1 

 
stockholders was approved by at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election was previously so approved cease
for any reason to constitute at least a majority thereof; or (iii) the stockholders of Gallagher shall approve the sale of all or substantially all of the assets of Gallagher or any merger, consolidation, issuance of securities or purchase of
assets, the result of which would be the occurrence of any event described in clause (i) or (ii) above. 
 2.5. “Code”
means the Internal Revenue Code of 1986, as amended from time to time. Reference to any section or subsection of the Code includes reference to any comparable or succeeding provisions of any legislation which amends, supplements or replaces such
section or subsection. 
 2.6. “Company” means Arthur J. Gallagher & Co. (Illinois), an Illinois corporation, and any
successor to all or a substantial portion of its assets or business that assumes the obligations of the Company (with the consent of the Company if it is still in existence). 

2.7. “Compensation” shall have the meaning set forth in the Qualified Plan (i) increased by the amount of any Elective
Deferrals under this Plan; and (ii) determined without regard to the limit applicable to the Qualified Plan under Section 401(a)(17) of the Code. 

2.8. “Effective Date” means January 1, 1999. 

2.9. “Elective Deferral” means the portion of Compensation which is deferred by a Participant under Section 4.1. 

2.10. “Eligible Employee”, with respect to a Plan Year, means an employee of an Employer if (i) the employee has completed
sixty (60) days of employment with an Employer prior to the first day of such Plan Year and (ii) either (A) the Company determines, in its sole discretion, that the employee has received or is expected to receive Compensation in the
calendar year ending prior to the first day of such Plan Year in an amount equal to or greater than the dollar amount in effect for such Plan Year under Section 401(a)(17) of the Code or (B) the Company, determines, in its sole discretion,
and specifies in a written notice to the employee that such employee is otherwise eligible to participate in the Plan for such Plan Year. In addition to the foregoing, an employee who is hired by an Employer after the first day of a Plan Year shall
be an “Eligible Employee” with respect to such Plan Year if (1) the employee has completed sixty (60) days of employment with such Employer after such date of hire and (2) either (x) the Company determines, in its sole
discretion, that the employee is expected to receive annualized Compensation in such Plan Year in an amount equal to or greater than the annual dollar amount in effect for such Plan Year under Section 401(a)(17) of the Code or (y) the
Company, determines, in its sole discretion, and specifies in a written notice to the employee that such employee is otherwise eligible to participate in the Plan for such Plan Year. If an Eligible Employee’s actual Compensation is less than
the applicable dollar amount prescribed by Section 401(a)(17) of the Code for two consecutive Plan Years, such Eligible Employee will be suspended from making any additional Elective Deferrals under the Plan for each subsequent Plan Year, until
the open enrollment period following the Plan Year in which such Eligible Employee’s Compensation is not less than the applicable dollar amount. 

  
 2 

 2.11. “Employer” means the Company and each other entity that is affiliated with the
Company and adopts the Plan with the Company’s consent. 
 2.12. “ERISA” means the Employee Retirement Income Security Act of
1974, as amended from time to time. Reference to any section or subsection of ERISA includes reference to any comparable or succeeding provisions of any legislation that amends, supplements or replaces such section or subsection. 

2.13. “Funding Trust” means the grantor trust established by the Company to hold assets contributed under the Plan. 

2.14. “Funding Trustee” means the trustee or trustees under the Funding Trust. 

2.15. “Gallagher” means Arthur J. Gallagher & Co., a Delaware corporation, and any successor to all or a substantial
portion of Gallagher’s assets or business that assumes the obligations of Gallagher (with Gallagher’s consent if it is still in existence). 

2.16. “Hour of Service” means an Hour of Service as calculated for purposes of the Qualified Plan. 

2.17. “Insolvent” means either (i) an Employer is unable to pay its debts as they become due, or (ii) the Employer is
subject to a pending proceeding as a debtor under the United States Bankruptcy Code. 
 2.18. “LTIC Program” means a long-term
incentive compensation program maintained by Gallagher or the Company. 
 2.19. “Matching Deferral” means a contribution by an
Employer for the benefit of a Participant who is an Eligible Employee, as described in Section 4.2. 
 2.20. “Matching Deferral
Account” means a Matching Deferral Account established on behalf of a Participant pursuant to Section 5.1(c). 
 2.21.
“Participant” means any individual who participates in the Plan in accordance with Article 3. 
 2.22. “Performance
Deferral” means a discretionary contribution by an Employer for the benefit of a Participant who is an Eligible Employee, as described in Section 4.3. 

2.23. “Plan” means the Arthur J. Gallagher & Co. Supplemental Savings and Thrift Plan as provided herein and as amended
from time to time. 
 2.24. “Plan Administrator” means the person, persons or entity designated by the Company to administer the
Plan. If no such person or entity is so serving at any time, the Company shall be the Plan Administrator. 
 2.25. “Plan Year”
means the 12-month period ending on December 31. 

  
 3 

 2.26. “Qualified Plan” means the Arthur J. Gallagher & Co. Employees’
401(k) Savings and Thrift Plan, or any successor thereto. 
 2.27. “Retirement” means the retirement of a Participant from
employment with an Employer on or after his or her 65th birthday, or as otherwise determined by the Company in its sole discretion, and excluding terminations for Cause and terminations under such other circumstances as shall be specified by the
Participant’s Employer. 
 2.28. “Scheduled Distribution Account” means a Scheduled Distribution Account established by a
Participant pursuant to Section 5.1. 
 2.29. “Separation from Service” shall have the meaning set forth in Treasury
regulations promulgated under Section 409A of the Code. 
 2.30. “Separation from Service Account” means a Separation from
Service Account established on behalf of a Participant pursuant to Section 5.1. 
 2.31. “13-Month Rule” means the election
rule for the RSUs and PSUs, awards under the LTIC Program and Performance Deferrals under Sections 4.1(c), 4.1(d) and 5.1(d)(ii), respectively, pursuant to which a Participant may make an election on a date that is both not later than 30 days after
the date on which the applicable award is granted and at least 12 months prior to the date on which such award is first scheduled to vest or on which the Participant will obtain a legally binding right to such award, as permitted under
Section 1.409A-2(a)(5) of the Treasury regulations. 
 2.32. “Unforeseeable Emergency” means a severe financial hardship of a
Participant resulting from an illness or accident of the Participant or the Participant’s spouse or dependent (as defined in Section 152(a) of the Code), a loss of the Participant’s property due to casualty (including the need to
rebuild a home following damage not otherwise covered by insurance), or any other similar extraordinary and unforeseeable circumstance arising as a result of events beyond the control of the Participant, all within the meaning of Section 409A
of the Code. 
 ARTICLE 3 

Participation 
 3.1.
Commencement of Participation 
 An Eligible Employee shall become a Participant in the Plan as of the date on which he or she begins to
defer compensation in accordance with Section 4.1 or on the date determined by the Plan Administrator with respect to a Matching Deferral under Section 4.2 or a Performance Deferral under Section 4.3. 

3.2. Continued Participation 
 A
Participant in the Plan shall continue to be a Participant so long as any amount remains credited to his or her Account. 

  
 4 

 ARTICLE 4 

Elective, Matching and Performance Deferrals 

4.1. Elective Deferrals 
 (a)
Base Salary. An Eligible Employee may elect to defer a percentage or dollar amount of his or her base salary; provided, however, the Plan Administrator may limit the available form of election for any Plan Year to only a percentage of base
salary, or to only a specified dollar amount of base salary, and the Plan Administrator may provide for a different limit on the available form of election for individuals for their first year of eligibility. Subject to any limitations imposed by
the Plan Administrator, an Eligible Employee who desires to elect a deferral described in this Section 4.1(a) shall complete and submit to the Plan Administrator a deferral election which shall designate (A) the percentage of each payment
to be deferred in one percent (1%) increments to a maximum of eighty percent (80%) or (B) the whole dollar amount of each payment to be deferred. Elections pursuant to this Section 4.1(a) to defer base salary earned in a Plan
Year must be made prior to the first day of such Plan Year; provided that an individual who first becomes an Eligible Employee following the commencement of a Plan Year and who is in his or her “first year of eligibility,” as defined under
Section 409A of the Code, may submit an irrevocable deferral election within 30 days after the date such individual becomes an Eligible Employee, and such election shall be effective with respect to compensation earned after the date of such
election. If an Eligible Employee elects to defer a dollar amount of each payment of base salary under this Section 4.1(a) for a Plan Year and such dollar amount would exceed eighty percent (80%) of the amount of a base salary payment to
such Eligible Employee, then the dollar amount to be deferred from that payment of base salary shall automatically be reduced to an amount equal to eighty percent (80%) of the amount of such payment, applied on a payment-by-payment basis. An
election to defer a percentage or dollar amount of base salary for any Plan Year shall apply for subsequent Plan Years (an “Evergreen Base Salary Election”) unless changed or revoked by the Participant by submitting a new deferral election
with the Plan Administrator on or before the date on which elections are due with respect to such Plan Year; provided, however: 
 (i) if
the base salary deferral percentage of a Participant under this Section 4.1(a) for a Plan Year exceeds the maximum base salary deferral percentage under this Section 4.1(a) for the subsequent Plan Year, then the deferral percentage under
the Evergreen Base Salary Election applicable to the subsequent Plan Year shall automatically be reduced to the maximum base salary deferral percentage under this Section 4.1(a) for the subsequent Plan Year; 

(ii) if a Participant elects a base salary deferral percentage under this Section 4.1(a) for a Plan Year and an election to defer a
percentage of base salary is not permitted for the subsequent Plan Year, there shall be no Evergreen Base Salary Election for the Participant applicable to the subsequent Plan Year; and 

(iii) if a Participant elects to defer a dollar amount of base salary under this Section 4.1(a) for a Plan Year and an election to defer
a dollar amount of base salary is not permitted for the subsequent Plan Year, there shall be no Evergreen Base Salary Election for the Participant applicable to the subsequent Plan Year. 

  
 5 

 (b) Annual Bonuses and Commissions. An Eligible Employee may elect to defer a percentage
or dollar amount of his or her annual bonus or commissioned earnings, to the extent payable to the Eligible Employee in cash; provided, however, the Plan Administrator may limit the available form of election for any Plan Year to only a percentage
of annual bonus or commissioned earnings, or to only a specified dollar amount of annual bonus or commissioned earnings, and the Plan Administrator may provide for a different limit on the available form of election for individuals for their first
year of eligibility. Subject to any limitations imposed by the Plan Administrator, an Eligible Employee who desires to elect a deferral described in this Section 4.1(b) shall complete and submit to the Plan Administrator a deferral election
which shall designate (A) the percentage of each payment to be deferred in one percent (1%) increments to a maximum of eighty percent (80%) or (B) the whole dollar amount of each payment to be deferred. Elections pursuant to this
Section 4.1(b) to defer an annual bonus or commissioned earnings earned in a Plan Year must be made prior to the first day of such Plan Year; provided that (i) an election to defer an annual bonus that is considered performance-based
compensation within the meaning of Section 409A of the Code may be made as of a date specified by the Plan Administrator that is at least six months prior to the last day of the applicable performance period and (ii) to the extent the
election period described in clause (i) is not available, an individual who first becomes an Eligible Employee following the commencement of a Plan Year and who is in his or her “first year of eligibility,” as defined under
Section 409A of the Code, may submit an irrevocable deferral election within 30 days after the date such individual becomes an Eligible Employee, and such election shall be effective with respect to the portion of the annual bonus or
commissioned earnings earned after the date of such election. If an Eligible Employee elects to defer a dollar amount of each payment of annual bonus or commissioned earnings under this Section 4.1(b) for a Plan Year and such dollar amount
would exceed eighty percent (80%) of the amount of a payment of annual bonus or commissioned earnings to such Eligible Employee, then the dollar amount to be deferred from that payment of annual bonus or commissioned earnings shall
automatically be reduced to an amount equal to eighty percent (80%) of the amount of such payment, applied on a payment-by-payment basis. An election to defer a percentage or dollar amount of an annual bonus or commissioned earnings for any
Plan Year shall apply for subsequent Plan Years (an “Evergreen Bonus or Commission Election”) unless changed or revoked by the Participant by submitting a new election with the Plan Administrator on or before the date on which elections
are due with respect to such Plan Year; provided, however: 
 (i) if the annual bonus or commissioned earnings deferral percentage of a
Participant under this Section 4.1(b) for a Plan Year exceeds the maximum annual bonus or commissioned earnings deferral percentage under this Section 4.1(b) for the subsequent Plan Year, then the deferral percentage under the Evergreen
Bonus or Commission Election applicable to the subsequent Plan Year shall automatically be reduced to the maximum annual bonus or commissioned earnings deferral percentage under this Section 4.1(b) for the subsequent Plan Year; 

(ii) if a Participant elects an annual bonus or commissioned earnings deferral percentage under this Section 4.1(b) for a Plan Year and
an election to defer a percentage of annual bonus or commissioned earnings is not permitted for the subsequent Plan Year, there shall be no Evergreen Bonus or Commission Election for the Participant applicable to the subsequent Plan Year; and 

(iii) if a Participant elects to defer a dollar amount of annual bonus or commissioned earnings under this Section 4.1(b) for a Plan
Year and an election to defer a dollar amount of annual bonus or commissioned earnings is not permitted for the subsequent Plan Year, there shall be no Evergreen Bonus or Commission Election for the Participant applicable to the subsequent Plan
Year. 

  
 6 

 The annual bonuses that are subject to a bonus deferral election under this Section 4.1(b)
shall include all annual, production and performance-based bonuses, but not other types of bonuses, such as sign-on, retention and educational bonuses. 

(c) RSU and PSU Awards. An Eligible Employee who has been granted (or is to be granted) a restricted stock unit (“RSU”) or
performance share unit (“PSU”) award with respect to the common stock of Gallagher (“Gallagher Common Stock”) as part of, or in lieu, of an annual bonus award or an award under an LTIC Program, may elect to defer the receipt of
the shares of Gallagher Common Stock issuable upon the vesting of such award (a “Share Deferral”). An Eligible Employee who desires to elect a Share Deferral shall complete and submit to the Plan Administrator a deferral election which
shall designate the percentage of the award to be deferred in one percent (1%) increments with a minimum percentage of fifty percent (50%) and a maximum percentage of one hundred percent (100%). Share Deferral elections must be made on or
prior to the date determined by the Plan Administrator that is both (i) not later than 30 days after the date on which the applicable RSU or PSU award is granted; and (ii) at least 12 months prior to the date on which such award is first
scheduled to vest. In his or her Share Deferral election, a Participant may elect whether RSUs or PSUs, upon vesting, shall remain credited to the Participant’s Account as notional units representing shares of Gallagher Common Stock or whether
such RSUs or PSUs shall be converted to another notional investment option available under the Plan. After such RSUs or PSUs are credited to a Participant’s Account, the manner in which notional earnings and losses are credited to such Account,
including the right of the Participant to change the notional investment of such Account, shall be determined in accordance with Section 5.2. An election to defer the receipt of all or any number of the shares of Gallagher Common Stock issuable
upon the vesting of a RSU or PSU award shall apply to all subsequent RSU and PSU awards (an “Evergreen RSU/PSU Election”) unless changed or revoked by the Participant by submitting a new deferral election with the Plan Administrator on or
before the date on which elections are due with respect to such subsequent RSU or PSU award. For the avoidance of doubt, if a Participant elects to defer a specified number of shares of Gallagher Common Stock issuable upon the vesting of a RSU or
PSU award and the number of shares of Gallagher Common Stock issuable upon the vesting of a subsequent RSU or PSU award is less than the number of shares under the Evergreen RSU/PSU Election, then 100% of the shares of Gallagher Common Stock
issuable upon the vesting of such subsequent RSU or PSU award shall be subject to such Evergreen RSU/PSU Election. 
 (d) Long-Term
Incentive Compensation Program-Cash Awards. An Eligible Employee who has been granted (or is to be granted) a cash-based award under an LTIC Program may elect to defer the receipt of the amount payable pursuant to such award by completing and
submitting to the Plan Administrator a deferral election which shall designate either (A) the percentage of the award to be deferred in one percent (1%) increments with a minimum percentage of fifty percent (50%) and a maximum
percentage of one hundred percent (100%) or (B) a percentage of the award to be deferred in one percent (1%) increments, but only 

  
 7 

 
to the extent the award exceeds a specified dollar amount. Such deferral elections must be made on or prior to the date determined by the Plan Administrator that is both (i) not later than
30 days after the date on which the applicable award is granted; and (ii) at least 12 months prior to the date on which such award is first scheduled to vest; provided that an election to defer an award that is considered performance-based
compensation within the meaning of Section 409A of the Code may be made as of a date specified by the Plan Administrator that is at least six months prior to the last day of the applicable performance period. An election to defer a percentage
or percentage in excess of a specified dollar amount of a cash-based award under an LTIC Program shall apply to all subsequent cash-based awards under an LTIC Program (an “Evergreen LTIC Election”) unless changed or revoked by the
Participant by submitting a new deferral election with the Plan Administrator on or before the date on which elections are due with respect to such subsequent cash-based awards under an LTIC Program. 

(e) Suspension of Deferrals. Any election pursuant to this Section 4.1 shall be irrevocable from and after the deadline for such
election provided that a deferral election may be terminated, or the amount of the deferral may be reduced, after such deadline in the event of (and consistent with) an Unforeseeable Emergency, as determined by the Plan Administrator. 

4.2. Matching Deferrals 
 (a)
Not later than the date required by law for matching contributions under the Qualified Plan (or any later date as of which the need for a contribution hereunder is determined), each Employer shall credit a Matching Deferral to the Account of each
Eligible Employee who is employed by such Employer on the last day of the Plan Year or who terminated employment during such Plan Year by reason of death, total and permanent disability (as determined by the Plan Administrator), Retirement, or for
any reason other than Cause during the 12-month period immediately following a Change of Control, to the extent described in Section 4.2(b). 

(b) For each Plan Year beginning on or after January 1, 2006, the Matching Deferral for each Eligible Employee shall be equal to the
excess of (i) 100% of his or her Elective Deferrals under Sections 4.1(a) and 4.1(b) of the Plan for such Plan Year but taking into account only Elective Deferrals which in the aggregate do not exceed 5% of such Eligible Employee’s
Compensation for such Plan Year, minus (ii) the maximum amount of matching contributions the Eligible Employee could have received under the Qualified Plan for such Plan Year if he or she had elected to defer the maximum amount permitted under
such plan for the full Plan Year; provided, however, that in no event shall such Matching Deferral exceed 100% of the amount of such Eligible Employee’s Elective Deferrals under Sections 4.1(a), 4.1(b), 4.1(c) and 4.1(d) of the Plan and a
Performance Deferral Award(s) received under Section 4.3 of the Plan for such Plan Year. 
 4.3. Performance Deferrals 

Any Eligible Employee may also receive a Performance Deferral in an amount to be determined by the Employer in its sole discretion. All
determinations by the Employer with regard to the amount or timing of or the eligibility for a Performance Deferral shall be final. 

  
 8 

 ARTICLE 5 

Accounts 
 5.1. Accounts

 (a) The Plan Administrator shall establish deferral Accounts for each Participant reflecting the Elective Deferrals, Matching Deferrals
and Performance Deferrals made for the Participant’s benefit together with any adjustments for income, gain or loss and any payments from the Accounts. Upon the commencement of an Eligible Employee’s participation in the Plan, the Plan
Administrator shall establish for the benefit of such Participant one or more Separation from Service Accounts, which in accordance with Section 7.1 shall be distributed following the Participant’s Separation from Service, and if
applicable, a Matching Deferral Account pursuant to Section 5.1(c), which shall be distributed at the time and in the form specified by Section 5.1(c). In addition, at the time a Participant submits an Elective Deferral election pursuant
to Section 4.1 with respect to any Plan Year, the Participant may in his or her discretion establish a Scheduled Distribution Account to which such Elective Deferrals shall be credited and which, in accordance with Section 7.1, shall be
distributed in the calendar year designated by the Participant at the time such Scheduled Distribution Account is established. The Plan Administrator may limit the number of Scheduled Distribution Accounts or Separation from Service Accounts
maintained on behalf of a Participant at any time. If the distribution of a Scheduled Distribution Account is scheduled to begin during a Plan Year, then no further Elective Deferrals shall be credited to such Scheduled Distribution Account with
respect to such Plan Year, and such Scheduled Distribution Account shall be disregarded for purposes of the limit on the number of Scheduled Distribution Accounts that may be maintained at any time. To illustrate the foregoing, Elective Deferrals
with respect to the 2010 Plan Year may not be credited to a 2010 Scheduled Distribution Account. 
 (b) At the time a Participant submits an
Elective Deferral election with respect to a Plan Year, the Participant shall elect that such Elective Deferrals be credited to a Separation from Service Account previously established by such Participant, a new Separation from Service Account, a
Scheduled Distribution Account previously established by such Participant, a new Scheduled Distribution Account at that time established by such Participant, or a combination of such Accounts; provided that any new Scheduled Distribution Account
elected by a Participant must provide for distributions of base salary or annual bonus or commissioned earnings to commence more than two years after the last day of such Plan Year and must provide for distributions of RSU or PSU awards or
cash-based awards under an LTIC Program to commence no sooner than the Plan Year following the Plan Year during which such RSU or PSU award or cash-based award under an LTIC Program would otherwise have been issued or paid. If a Participant does not
affirmatively elect the Account to which any portion of his or her Elective Deferrals shall be credited with respect to any Plan Year, such Elective Deferrals shall be credited as follows: 

(i) Base Salary. A Participant’s Evergreen Base Salary Election shall be automatically applied to the Participant’s base salary
earned in the current Plan Year as follows: 
 (A) If an Evergreen Base Salary Election provides for contribution into either a Separation
from Service Account or to a Scheduled Distribution Account pursuant to which distributions are scheduled to be made or begin later than the current Plan Year, then the base salary deferred for the current Plan Year shall be credited to the
Participant’s Account in accordance with the Evergreen Base Salary Election; or 

  
 9 

 (B) If an Evergreen Base Salary Election provides for contribution into a Scheduled Distribution
Account pursuant to which distributions are scheduled to be made or begin during the current Plan Year, then the base salary deferred for the current Plan Year shall be credited to a new Scheduled Distribution Account that provides for distributions
to be paid in a lump sum payment during the first Plan Year that is more than two years after the last day of the current Plan Year. 

(ii) Annual Bonus or Commissions. A Participant’s Evergreen Bonus or Commission Election shall be automatically applied to the
Participant’s annual bonus and/or commissions earned in the current Plan Year as follows: 
 (A) If an Evergreen Bonus or Commission
Election provides for contribution into either a Separation from Service Account or to a Scheduled Distribution Account pursuant to which distributions are scheduled to be made or begin later than the first Plan Year after the current Plan Year,
then the annual bonus and/or commissions deferred for the current Plan Year shall be credited to the Participant’s Account in accordance with the Evergreen Bonus or Commission Election; or 

(B) If an Evergreen Bonus or Commission Election provides for contribution into a Scheduled Distribution Account pursuant to which
distributions are scheduled to be made or begin during the first Plan Year after the current Plan Year, then the annual bonus and/or commissions deferred for the current Plan Year shall be credited to a new Scheduled Distribution Account that
provides for distributions to be paid in a lump sum payment during the first Plan Year that is more than three years after the last day of the current Plan Year. 

(iii) RSU and PSU Awards. A Participant’s Evergreen RSU/PSU Election shall be automatically applied to the Participant’s subsequent
RSU and PSU awards as follows: 
 (A) If an Evergreen RSU/PSU Election provides for contribution into either a Separation from Service
Account or to a Scheduled Distribution Account pursuant to which distributions are scheduled to be made or begin later than the Plan Year in which the shares underlying such subsequent RSU or PSU award would otherwise have been issued (absent such
Evergreen RSU/PSU Election), then the subsequent RSU or PSU award shall be credited to the Participant’s Account in accordance with the Evergreen RSU/PSU Election. 

(B) If an Evergreen RSU/PSU Election provides for contribution into a Scheduled Distribution Account pursuant to which distributions are
scheduled to be made or begin during the Plan Year in which the shares underlying such subsequent RSU or PSU award would otherwise have been issued (absent such Evergreen RSU/PSU Election), 

  
 10 

 
then the subsequent RSU or PSU award shall be credited to a new Scheduled Distribution Account that provides for shares to be issued during the Plan Year following the Plan Year during which the
shares underlying such subsequent RSU or PSU award would otherwise have been issued (absent such Evergreen RSU/PSU Election). 
 (iv) Cash
Awards under LTIC Programs. A Participant’s Evergreen LTIC Election shall be automatically applied to the Participant’s subsequent cash awards under an LTIC Program as follows: 

(A) If an Evergreen LTIC Election provides for contribution into either a Separation from Service Account or to a Scheduled Distribution
Account pursuant to which distributions are scheduled to be made or begin later than the Plan Year in which such subsequent cash award under an LTIC Program would otherwise have been paid (absent such Evergreen LTIC Election), then the subsequent
cash award under an LTIC Program shall be credited to the Participant’s Account in accordance with such Evergreen LTIC Election. 

(B) If an Evergreen LTIC Election provides for contribution into a Scheduled Distribution Account pursuant to which distributions are
scheduled to be made or begin during the Plan Year in which such subsequent cash award under an LTIC Program would otherwise have been paid (absent such Evergreen LTIC Election), then the subsequent cash award under an LTIC Program shall be credited
to a new Scheduled Distribution Account that provides for distributions to be paid in a lump sum payment during the Plan Year following the Plan Year during which such subsequent cash award under an LTIC Program would otherwise have been paid
(absent such Evergreen LTIC Election). 
 (v) In all other cases, the Elective Deferrals for the current Plan Year shall be credited to the
Separation from Service Account initially established by the Participant, or if none, to a new Separation from Service Account for such Participant that provides for distributions to be paid in a lump sum. 

(c) For each Participant who first receives Matching Deferrals on or after January 1, 2015, all Matching Deferrals credited to the
Participant’s Account pursuant to Section 4.2 shall be credited to a Matching Deferral Account for such Participant that provides for distributions to be paid in a lump sum on the six-month anniversary of such Participant’s Separation
from Service. 
 (d) At the time an Employer credits a Performance Deferral to a Participant’s Account, the Employer shall specify
whether the Performance Deferral shall be credited to a Separation from Service Account previously established by the Participant or an Employer, a new Separation from Service Account at that time established by the Employer, a Scheduled
Distribution Account previously established by the Participant or the Employer, a new Scheduled Distribution Account at that time established by the Employer, or a combination of such Accounts. Alternatively, the Employer may permit Participants to
elect the Account to which such Performance Deferrals shall be credited, provided that such election is made in accordance with one of the following permissible election rules: 

(i) not later than 30 days after the date on which such Performance Deferral is awarded, if the Performance Deferral is the first such award
received by the individual and the Plan Year in which the Performance Deferral is awarded is the “first year of eligibility” for the individual with respect to the Performance Deferral and any other compensation of same type for purposes
of Section 409A of the Code, taking into consideration the plan aggregation rules under Section 1.409A-1(c)(2) of the Treasury regulations; 

  
 11 

 (ii) not later than 30 days after the date on which such Performance Deferral is awarded and at
least 12 months prior to the date on which such award is first scheduled to vest or on which the Participant will obtain a legally binding right to payment of such Performance Deferral; or 

(iii) in accordance with any other permissible deferral election rule under Section 409A of the Code permitted and made available by the
Plan Administrator. 
 If a Participant fails to make a distribution election for an amount under this Section 5.1(d) within the specified period or a
distribution election by the Participant for an amount is not permitted under Section 409A of the Code, then unless an Employer specified a time and form of distribution at the time the Employer credited such amount to the Participant’s
Account under this Section 5.1(d), such amount shall be held in a Separation from Service Account for such Participant that provides for distributions to be paid in a lump sum. In order to comply with the requirements of the 13-Month Rule,
notwithstanding any provision in the Plan to the contrary and except as set forth in Sections 6.2 through 6.5, the Performance Deferral under the Plan of a Participant who makes an election under Section 5.1(d)(ii) shall not vest and shall be
forfeited unless the Participant provides continuous services to the Employer or other affiliates of the Employer through the date that is 12 months and one day following the date of such election. 

(e) Elective Deferrals shall be credited to the Account of a Participant as soon as administratively practicable after the Elective Deferrals
are withheld from the Participant’s Compensation. Matching Deferrals and Performance Deferrals shall be credited to the Account of a Participant as of the later of the date related trust contributions are received by the Funding Trustee or the
date the Funding Trustee receives from the Plan Administrator such instructions as the Funding Trustee may reasonably require to allocate the amount received among the asset accounts maintained by the Funding Trustee. The Plan Administrator shall
make available to each Participant periodic statements of his or her Account reflecting the income, gain and loss, amounts of deferrals, and payments from such Account. 

5.2. Investments 
 (a) The
assets of the Funding Trust shall be invested in such investments as are designated by the Plan Administrator. The Plan Administrator shall provide each Participant with the opportunity to indicate how each of his or her Accounts is apportioned to
the investments designated by the Plan Administrator in one percent (1%) increments. A Participant’s Account is solely a device for the measurement and determination of the amounts to be paid to the Participant pursuant to the Plan and
shall not constitute or be treated as a trust fund of any kind. 

  
 12 

 (b) Each investment fund’s operating expenses will be netted against such investment
fund’s return for purposes of measuring the earnings and losses credited to each Participant’s Account. Other Plan legal, trustee and administrative expenses will be paid by the Employers. 

(c) To the extent a Participant’s Account is credited with notional units representing shares of Gallagher Common Stock, each such
notional unit shall have a value equal to the fair market value of a share of Common Stock. Upon the payment of a dividend by Gallagher on issued and outstanding shares of Common Stock, an amount equal to such per share dividend amount multiplied by
the number of notional share units credited to each Participant’s Account shall be credited to the Account within 10 days after the dividend payment date and shall be deemed invested in an investment fund designated by the Plan Administrator
for this purpose. Unless the Plan Administrator determines otherwise, and subject to the restrictions set forth in Section 5.2(d), notional units representing shares of Gallagher Common Stock shall be offered as a permissible investment of a
Participant’s Account under the Plan. Each Participant whose Account has been credited with notional units representing shares of Gallagher Common Stock shall be permitted, in accordance with such procedures, conditions and limitations as may
be prescribed by the Plan Administrator, to elect that such units be converted to one or more other notional investment alternatives available under the Plan, and vice versa. 

(d) A Participant’s transactions involving notional units representing shares of Gallagher Common Stock are subject to Gallagher’s
Insider Trading Policy, as such policy may be amended from time to time, including, if applicable, pre-clearance and blackout restrictions. If applicable, Participants are responsible for ensuring that their transactions in Gallagher Common Stock
are properly reported under the provisions of Section 16 of the Exchange Act of 1934, as amended (the “Exchange Act”). It is the intention of the Board that transactions involving notional units representing shares of Gallagher Common
Stock under the Plan, and the issuance or distribution of any Gallagher Common Stock to Participants, may be deemed transactions which are exempt from the provisions of Section 16(b) of the Exchange Act, as provided under Rule 16b-3(d)(I)
promulgated under the Exchange Act. 
 ARTICLE 6 

Vesting 
 6.1. General 

A Participant shall at all times have a fully vested and nonforfeitable right to all Elective Deferrals and Matching Deferrals credited to his
or her Account, adjusted for income, gain and loss attributable thereto. Subject to earlier vesting as provided in Sections 6.2, 6.3 and 6.4, a Participant shall be or become vested in the portion of his or her Account attributable to Performance
Deferrals, adjusted for income, gain and loss attributable thereto, as determined by the Employer at the time the Performance Deferral is made. If the vesting or vested percentage is based on the Participant’s “Years of Service,” the
Participant shall receive credit for a Year of Service for each Plan Year (including Plan Years before the date as of which the Performance Deferral is made and the Effective Date only to the extent determined by the Employer) during which he or she
completed at least 1,000 of Hours of Service. 

  
 13 

 6.2. Change of Control 

Any unvested portion of a Participant’s Account shall become fully vested upon a Change of Control. 

6.3. Retirement, Death or Disability 

Any unvested portion of a Participant’s Account shall become fully vested upon a termination of such Participant’s employment by
reason of the Participant’s Retirement, death or total and permanent disability (as determined by the Plan Administrator). 
 6.4.
Insolvency 
 Any unvested portion of a Participant’s Account shall become fully vested immediately prior to the Employer’s
becoming Insolvent, in which case the Participant will have the same rights as a general creditor of the Employer with respect to his or her Account balance. 

6.5. 13-Month Rule Compliance 

(a) In order to comply with the requirements of the 13-Month Rule, notwithstanding any provision in the Plan to the contrary, any accelerated
vesting of an award or an Account for which a Participant has made an election using the 13-Month Rule shall become effective no sooner than the date that is 12 months and 1 day following the date of such election; provided, however that this
Section 6.5(a) shall not apply to any Change in Control that qualifies as a change in control event under Section 1.409A-3(i)(5) of the Treasury regulations or to any disability that satisfies the definition of disability under
Section 1.409A-3(i)(4) of the Treasury regulations. 
 (b) Any distribution election made under the 13-Month Rule shall not apply to
allocations, as adjusted for investment earnings and losses, which become entitled to accelerated vesting before the date that is 12 months and one day following the date of such election by reason of a Change in Control that qualifies as a change
in control event under Section 1.409A-3(i)(5) of the Treasury regulations or under Section 6.3 by reason of a disability that satisfies the definition of disability under Section 1.409A-3(i)(4) of the Treasury regulations, and those
amounts shall be held in a Separation from Service Account for such Participant that provides for distributions to be paid in a lump sum. 

ARTICLE 7 
 Payments

 7.1. Election as to Time and Form of Payment 

(a) In the deferral election submitted by a Participant for each Plan Year in which such Participant makes Elective Deferrals under the Plan,
the Participant shall elect that such Elective Deferrals be credited to a Separation from Service Account previously established by such Participant, a new Separation from Service Account at that time established by such Participant, a Scheduled
Distribution Account previously established by such Participant, a new Scheduled Distribution Account at that time established by such Participant, or any combination 

  
 14 

 
of such Accounts. At the time a Participant establishes a new Separation from Service Account, the Participant shall elect the form in which the amounts credited to such Account are to be
distributed, which may be a single lump sum payment or annual installments over a period of not less than two years and not more than 10 years. At the time a Participant establishes a new Scheduled Distribution Account, the Participant shall elect
(i) the year in which such Scheduled Distribution Account is to be payable, which must provide for distributions of base salary or annual bonus or commissioned earnings to commence more than two years after the last day of the Plan Year in
which such election must be made and must provide for distributions of RSU or PSU awards or cash-based awards under an LTIC Program to commence no sooner than the Plan Year following the Plan Year during which such RSU or PSU award or cash-based
award under an LTIC Program would otherwise have been issued or paid and not later than the year in which the Participant will attain age 70 and (ii) the form in which the amounts credited to such Account are to be distributed, which may be a
single lump sum payment or annual installments over a period of not less than two years and not more than 10 years. If a Participant fails to elect the form in which any Account is to be distributed, such Account shall be distributed in a single
lump sum payment. 
 (b) A Participant who is actively employed by an Employer may change the time at which and/or the form in which any of
the Participant’s Accounts is to be distributed or commence to be distributed by submitting a new election to the Plan Administrator; provided that (i) such new election is submitted at least one year prior to the date on which such
Account was previously scheduled to be distributed or commence to be distributed, (ii) such new election shall not take effect for 12 months after it is submitted to the Plan Administrator and (iii) the distribution subject to such new
election is scheduled to be made or commence at least five years later than the date on which such distribution was previously scheduled to have been made or commence. Such new election shall be void if it would result in any payment being made
later than the year in which the Participant will attain age 70. 
 (c) Each of a Participant’s Separation from Service Accounts shall
be distributed or commence to be distributed on the six-month anniversary of such Participant’s Separation from Service. Each Participant’s Scheduled Distribution Account shall be distributed or commence to be distributed on July 1st of the year of distribution designated by the Participant at the time such Scheduled Distribution Account is established, or at such later date designated pursuant to Section 7.1(b). Each
Account shall be distributed in the form elected by the Participant pursuant to Section 7.1(a), (b) or (c), with annual installments distributed on July 1st of each year; provided, however, that if the value of such account is $25,000
or less at the time that distribution of such account is scheduled to commence in the form of installments, then such account instead shall be paid in the form of a single lump sum payment. If one of a Participant’s Separation from Service
Accounts is payable in installments, the first installment shall be paid on the six-month anniversary of the Participant’s Separation from Service, and each subsequent installment shall be paid on July 1st of each year in the installment
period, beginning with the July 1st next following the date of such first installment. 
 (d) Amounts credited to a Participant’s
Account in the form of notional units representing shares of Gallagher Common Stock shall be distributed in shares of Gallagher Common Stock, which may be purchased in the open market. All other Distributions from a Participant’s Account shall
be in cash. 

  
 15 

 7.2. Termination of Employment 

Upon the termination of a Participant’s employment, the unvested portion of the Participant’s Account (excluding any portion that
becomes vested pursuant to Section 6.2, 6.3 or 6.4) shall be forfeited and any related amounts held in the Funding Trust shall be used to satisfy the Employer’s obligation to make contributions to the Funding Trust under the Plan. 

7.3. Death 
 (a) If a
Participant dies prior to the complete distribution of his or her Accounts, the balance of each such Account shall be paid to the Participant’s beneficiary or beneficiaries, designated in accordance with Section 7.3(b), in a single lump
sum payment within 60 days following the date of the Participant’s death. 
 (b) A Participant may designate a beneficiary at any time
before the Participant’s death, in the manner prescribed by the Plan Administrator for that purpose. Subject to the last sentence hereof, a Participant may revoke any beneficiary designation or designate a new beneficiary at any time without
the consent of a beneficiary or any other person. If no beneficiary is designated or no designated beneficiary survives the Participant, payment shall be made to the Participant’s surviving spouse, or, if none, to the Participant’s issue
per stirpes, in a single payment. If no spouse or issue survives the Participant, payment shall be made in a single lump sum to the Participant’s estate. If a Participant is married, any designation of a beneficiary other than such
Participant’s spouse shall be effective only if the Participant’s spouse consents to such designation in writing. 
 7.4.
Withdrawal Due to Unforeseeable Emergency 
 If a Participant requests an immediate payment on account of an Unforeseeable Emergency, the
Plan Administrator shall pay to the Participant only that portion, if any, of the vested portion of his or her Account which the Plan Administrator determines is necessary to satisfy the emergency need, including any amounts necessary to pay the
federal, state or local income taxes reasonably anticipated to result from the distribution. A Participant requesting an emergency payment shall apply for the payment in writing using a form prescribed by the Plan Administrator for that purpose and
shall provide such additional information as the Plan Administrator shall decide. If a Participant elects an immediate payment on account of an Unforeseeable Emergency, such Participant’s Elective Deferral election shall be cancelled for the
remainder of the Plan Year in which such payment is made. 
 7.5. Restrictive Covenants; Clawback 

(a) If, at any time within the later to occur of (i) ten years after a Participant’s Separation from Service; or (ii) two years
after the final payment of any installment due to the Participant from a Participant’s Accounts, the Participant, in the determination of the management of Gallagher, engages in any activity in competition with any activity of Gallagher, or
inimical, contrary or harmful to the interests of Gallagher, including, but not limited to: (1) conduct related to his employment for which either criminal or civil penalties against him may be sought, (2) violation of Gallagher policies,
including, without limitation, Gallagher’s Insider Trading Policy, (3) directly or indirectly, soliciting, placing, accepting, aiding, counseling or 

  
 16 

 
consulting in the renewal, discontinuance or replacement of any insurance or reinsurance by, or handling self-insurance programs, insurance claims or other insurance administrative functions
(“insurance services”) for, any existing Gallagher account or any actively solicited prospective account of Gallagher for which he performed any of the foregoing functions during the two-year period immediately preceding such termination
or providing any employee benefit brokerage, consulting, or administration services, in the areas of group insurance, defined benefit and defined contribution pension plans, individual life, disability and capital accumulation products, investment
advisory services and all other employee benefit areas (“benefit services”) Gallagher is involved with, for any existing Gallagher account or any actively solicited prospective account of Gallagher for which he performed any of the
foregoing functions during the two-year period immediately preceding such termination or, if the Participant has not terminated employment, the date of the prohibited activity (the term Gallagher account as used in this Section shall be construed
broadly to include all users of insurance services or benefit services including commercial and individual consumers, risk managers, carriers, agents and other insurance intermediaries), (4) the rendering of services for any organization which
is competitive with Gallagher, (5) employing or recruiting any current or former employee of Gallagher, (6) disclosing or misusing any confidential information or material concerning Gallagher, or (7) participating in a hostile
takeover attempt of Gallagher, then all Matching Deferrals and Performance Deferrals in the Participant’s Accounts, including any income, gain or loss thereon, shall be forfeited, unless terminated sooner by operation of another term or
condition of this Plan, and any payments made from a Participant’s Accounts consisting of Matching Deferrals and Performance Deferrals to such Participant, including any income, gain or loss thereon, shall be repaid by the Participant to
Gallagher. Repayment of any Matching Deferrals and Performance Deferrals by the Participant shall include interest measured from the date of payments made from the Participant’s Accounts at the highest rate allowable under Delaware law. 

(b) By participating in the Plan, each Participant acknowledges that the Participant’s engaging in activities and behavior in violation
of Section 7.5(a) above will result in a loss to Gallagher which cannot reasonably or adequately be compensated in damages in an action at law, that a breach of Section 7.5(a) will result in irreparable and continuing harm to Gallagher and
that therefore, in addition to and cumulative with any other remedy which Gallagher may have at law or in equity, Gallagher shall be entitled to injunctive relief for a breach of Section 7.5(a) by the Participant. By participating in the Plan
each Participant acknowledges and agrees that the requirement in Section 7.5(a) above that Participant disgorge and pay over to Gallagher any payments received from the Participant’s Accounts by such Participant is not a provision for
liquidated damages. The Participant agrees to pay any and all costs and expenses, including reasonable attorneys’ fees, incurred by Gallagher in enforcing any breach of any covenant in this Plan. 

(c) The provisions of Section 7.5 shall only apply to (i) Matching Deferrals credited to a Participant’s Accounts with respect
to Elective Deferrals made by the Participant for the 2009 Plan Year and succeeding Plan Years; and (ii) Performance Deferrals first granted and credited to a Participant’s Accounts by the Employer in the 2009 Plan Year or succeeding Plan
Years. 

  
 17 

 7.6. Taxes 

All deferrals and payments under the Plan shall be subject to all applicable federal, state and local tax withholding requirements. 

ARTICLE 8 
 Plan
Administrator 
 8.1. Plan Administration and Interpretation 

The Plan Administrator shall oversee the administration of the Plan. The Plan Administrator shall have complete control and authority to
determine the rights and benefits and all claims, demands and actions arising out of the provisions of the Plan of any Participant, beneficiary, deceased Participant, or other person having or claiming to have any interest under the Plan. The Plan
Administrator shall have complete discretion to interpret the Plan and to decide all matters under the Plan. Such interpretation and decision shall be final, conclusive and binding on all Participants and any person claiming under or through any
Participant, in the absence of clear and convincing evidence that the Plan Administrator acted arbitrarily and capriciously. Any individual(s) serving as Plan Administrator who is a Participant will not vote or act on any matter relating solely to
himself or herself. When making a determination or calculation, the Plan Administrator shall be entitled to rely on information furnished by a Participant, a beneficiary, the Employer or the Funding Trustee. The Plan Administrator shall have the
responsibility for complying with any reporting and disclosure requirements of ERISA. 
 8.2. Powers, Duties, Procedures, Etc. 

The Plan Administrator shall have such powers and duties, may adopt such rules and tables, may act in accordance with such procedures, may
appoint such officers or agents, may delegate such powers and duties, and shall follow such claims and appeal procedures with respect to the Plan as it may establish. 

8.3. Information 
 To enable the
Plan Administrator to perform its functions, the Employer shall supply full and timely information to the Plan Administrator on all matters relating to the compensation of Participants, their employment, Retirement, death, termination of employment,
and such other pertinent facts as the Plan Administrator may require. 
 8.4. Indemnification of Plan Administrator 

The Employer agrees to indemnify and to defend to the fullest extent permitted by law any of its officer(s) or employee(s) who serve as Plan
Administrator (including any such individual who formerly served as Plan Administrator) against all liabilities, damages, costs and expenses (including attorneys’ fees and amounts paid in settlement of any claims approved by the Employer)
occasioned by any act or omission to act in connection with the Plan, if such act or omission is in good faith. 

  
 18 

 ARTICLE 9 

Amendment and Termination 

9.1. Amendments 
 The Company
shall have the right to amend the Plan from time to time, subject to Section 9.3, by an instrument in writing which has been executed on its behalf by a duly authorized officer. 

9.2. Termination of Plan 
 The
Plan is strictly a voluntary undertaking on the part of each Employer and shall not be deemed to constitute a contract between the Employer and any Eligible Employee (or any other employee), as consideration for, or an inducement or condition of
employment for, the performance of the services by an Eligible Employee (or other employee). The Company reserves the right to terminate the Plan at any time, subject to Section 9.3, by an instrument in writing which has been executed on its
behalf by a duly authorized officer. Upon termination, the Company shall continue to maintain the Funding Trust to pay benefits hereunder as they become due as if the Plan had not terminated; provided, however, that if the Plan is terminated in
connection with a Change in Control Event, within the meaning of regulations or other guidance promulgated under Section 409A of the Code, Gallagher’s Compensation Committee, as constituted immediately prior to such Change in Control
Event, may elect, in its sole discretion, to pay out all Accounts to Participants and beneficiaries within 12 months after the occurrence of such Change in Control Event to the extent permitted under Section 409A of the Code. For purposes of
the preceding sentence, the Account balance of each Participant who is in the employ of the Employer at the time the Funding Trustee is directed to pay such balance shall become fully vested and nonforfeitable. After Participants and their
beneficiaries are paid all Plan benefits to which they are entitled, all remaining assets of the Funding Trust attributable to Participants who terminated employment with the Employer before they were fully vested in their Accounts under Article 6
at that time shall be returned to the Employer. 
 9.3. Existing Rights 

No amendment or termination of the Plan shall adversely affect the rights of any Participant with respect to amounts that have been credited
to his or her Account prior to the date of such amendment or termination except as provided in Section 9.2 or to comply with the requirements of applicable law. 

ARTICLE 10 

Miscellaneous 
 10.1. No
Funding 
 The Plan constitutes a mere promise by the Employer to make payments in accordance with the terms of the Plan and Participants
and beneficiaries shall have the status of general unsecured creditors of the Employer. Nothing in the Plan will be construed to give any employee or any other person rights to any specific assets of the Employer or of any other person. In all
events, it is the intent of the Employer that the Plan be treated as unfunded for tax purposes and for purposes of Title I of ERISA. 

  
 19 

 10.2. Non-assignability 

None of the benefits, payments, proceeds or claims of any Participant or beneficiary shall be subject to any claim of any creditor of any
Participant or beneficiary and, in particular, the same shall not be subject to attachment or garnishment or other legal process by any creditor of such Participant or beneficiary, nor shall any Participant or beneficiary have any right to alienate,
anticipate, commute, pledge, encumber or assign any of the benefits or payments or proceeds which he or she may expect to receive, contingently or otherwise under the Plan. 

10.3. Limitation of Participant’s Rights 

Nothing contained in the Plan shall confer upon any person a right to be employed or to continue in the employ of the Employer, or interfere
in any way with the right of the Employer to terminate the employment of a Participant in the Plan at any time, with or without cause. 

10.4. Participants Bound 
 Any
action with respect to the Plan taken by the Plan Administrator or the Funding Trustee or any action authorized by or taken at the direction of the Plan Administrator, the Company or the Funding Trustee shall be conclusive upon all Participants and
beneficiaries entitled to benefits under the Plan. 
 10.5. Receipt and Release 

Any payment to any Participant or beneficiary in accordance with the provisions of the Plan shall, to the extent thereof, be in full
satisfaction of all claims against the Employer, the Plan Administrator and the Funding Trustee under the Plan, and the Plan Administrator may require such Participant or beneficiary, as a condition precedent to such payment, to execute a receipt
and release to such effect. If any Participant or beneficiary is determined by the Plan Administrator to be incompetent by reason of physical or mental disability or other legal disability (including minority) to give a valid receipt and release,
the Plan Administrator may cause the payment or payments becoming due to such person to be made to· another person for his or her benefit without responsibility on the part of the Plan Administrator, the Employer or the Funding Trustee to
follow the application of such funds. 
 10.6. Compliance With Section 409A of Code 

This Plan is intended to comply with the provisions of Section 409A of the Code, and shall be interpreted and construed accordingly, and
the timing of all payments under the Plan shall be modified as necessary to comply therewith. 

  
 20 

 10.7. Governing Law 

The Plan shall be construed, administered, and governed in all respects under and by the laws of the State of Illinois. If any provision shall
be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be fully effective. 

10.8. Severability 
 If a
provision of the Plan shall be held to be illegal or invalid, the illegality or invalidity shall not affect the remaining parts of the Plan and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.

 10.9. Headings and Subheadings 

Headings and subheadings in this Plan are inserted for convenience only and are not to be considered in the construction of the provisions
hereof. 

  
 21

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