Document:

The form of indemnification agreements

 Exhibit 10.2 
 The form of indemnification agreements 
 entered into with each director and 
 executive officer of Company 
 INDEMNIFICATION
AGREEMENT 
 AGREEMENT, effective as of
                     between Crane Co., a Delaware corporation (the “Company”), and
                     (Indemnitee”). 
 WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and officers of public companies at a time when it has become increasingly
difficult to obtain adequate insurance coverage at reasonable costs; 
 WHEREAS, in recognition of Indemnitee’s need for substantial
protection against personal liability in order to enhance Indemnitee’s continued service to the Company in an effective manner, the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to
Indemnitee to the full extent (whether partial or complete) permitted by law and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued coverage of Indemnitee under the Company’s directors’ and
officers’ liability insurance policies, regardless of any future change in the Certificate of Incorporation, Bylaws, composition of the Board of Directors, or structure of the Company; 
 NOW, THEREFORE, in consideration of the premises and of Indemnitee’s service to the Company, directly or indirectly, and intending to be legally
bound hereby, the parties hereto agree as follows: 
 1. In the event Indemnitee was, is, or becomes a party to or a witness or other
participant in, or is threatened to be made a party to or a witness or other participant in, any threatened, pending or completed action, suit or proceeding, or any inquiry or investigation, whether conducted by the Company or any other party, that
Indemnitee in good faith believes might lead to any such action, suit or proceeding, whether civil, criminal, administrative, investigative or otherwise (“Claim”) by reason of (or arising in part out of) the fact that Indemnitee is or was
a director, officer, employee, agent or fiduciary of the Company, or is or was serving at the request of the Company as a director, officer, employee, trustee, agent or fiduciary of another corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise, or by reason of anything done or not done by Indemnitee in any such capacity (an “Indemnifiable Event”), the Company shall indemnify Indemnitee to the full extent permitted by law (the determination of
which shall be made by the Reviewing Party referred to below) as soon as practicable but in any event no later than thirty days after written demand is presented to the Company, against any and all expenses (including attorneys’ fees and all
other costs, expenses and obligations paid or incurred in connection with investigating, preparing for and defending or participating in the defense of (including on appeal) any Claim relating to any Indemnifiable Event) 

 
(collectively “Expenses”), judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid
or payable in connection with or in respect of such judgments, fines, penalties or amounts paid in settlement) of such Claim and, if so requested by Indemnitee, the Company shall advance (within two business days of such request) any and all such
Expenses to Indemnitee; provided, however, that (i) the foregoing obligation of the Company shall not apply to a Claim that was commenced by the Indemnitee without the prior approval of the Board of Directors of the Company unless the Claim was
commenced after a Change in Control (as defined in Section 5 herein); (ii) the foregoing obligation of the Company shall be subject to the condition that an appropriate person or body (the “Reviewing Party”) shall not have
determined (in a written opinion in any case in which the special, independent counsel referred to in Section 4 hereof is involved) that Indemnitee would not be permitted to be indemnified for such Expenses under applicable law; and
(iii) if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be indemnified for such Expenses under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby
agrees to reimburse the Company) for all such amounts theretofore paid (unless Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, in
which event Indemnitee shall not be required to so reimburse the Company until a final judicial determination requiring such reimbursement is made with respect thereto as to which all rights of appeal therefrom have been exhausted or lapsed) and the
Company shall not be obligated to indemnify or advance any additional amounts to Indemnitee under this Agreement (unless there has been a determination by a court of competent jurisdiction that the Indemnitee would be permitted to be so indemnified
or entitled to such expense advances under applicable law). 
 2. If there has not been a Change in Control of the Company (as hereinafter
defined), the Reviewing Party shall be (1) a quorum of the Board of Directors consisting of directors who are not parties to the action, suit or proceeding acting by majority vote, or (2) if such a quorum is not obtainable, or, even if
obtainable, a quorum of disinterested directors so directs, independent legal counsel by the use of a written opinion or (3) the stockholders. If there has been a Change in Control of the Company, the Reviewing Party shall be the special,
independent counsel referred to in Section 4 hereof. 
 3. If Indemnitee has not been indemnified by the expiration of the foregoing
thirty-day period or received expense advances or if the Reviewing Party determines that Indemnitee would not be permitted to be indemnified or be entitled to receive expense advances within two days of the request therefor in whole or in part under
the applicable law, Indemnitee shall have the right to commence litigation seeking from the court a finding that Indemnitee is entitled to indemnification and expense advances or enforcement of Indemnitee’s entitlement to indemnification and
expense advances or challenging any determination by the Reviewing Party or any aspect thereof that Indemnitee is not entitled 

 
to be indemnified or receive expense advances and the burden of proving that indemnification or advancement of expenses is not appropriate shall be on the
Company; any determination by the Reviewing Party in favor of Indemnitee shall be conclusive and binding on the Company, unless facts supplied by Indemnitee which form the basis for the determination are subsequently determined to have been
materially incorrect at the time supplied. Indemnitee agrees to bring any such litigation in any court in the states of New York or Delaware having subject matter jurisdiction thereof and in which venue is proper, and the Company hereby consents to
service of process and to appear in any such proceeding. 
 4. The Company agrees that if there is a Change in Control of the Company (as
hereinafter defined), then with respect to all matters thereafter arising concerning the rights of Indemnitee to indemnity payments and expense advances under this Agreement or any other agreement or Bylaws now or hereafter in effect relating to
Claims for Indemnifiable Events, the Company shall seek legal advice only from special, independent counsel selected by Indemnitee who a majority of the disinterested Directors approves (which approval shall not be unreasonably withheld), and who
has not otherwise performed services for the Company or Indemnitee. Such counsel, among other things, shall determine whether and to what extent Indemnitee is permitted to be indemnified or is entitled to expense advances under applicable law and
shall render its written opinion to the Company and Indemnitee to such effect. The Company agrees to pay the reasonable fees of the special, independent counsel referred to above and to fully indemnify such counsel against any and all expenses
(including attorneys’ fees), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto except for willful misconduct or gross negligence. 
 5. For purposes of this Agreement, (a) “Change in Control of the Company” shall be deemed to have occurred if (i) any
“person” (as such term is used in Sections 13(d)(3) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, is or becomes the
beneficial owner (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the Company’s then outstanding securities, or (ii) during any period
of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Company and any new director whose election by the Board of Directors or nomination for election by the Company’s stockholders
was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to
constitute a majority thereof, or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent 

 
(either by remaining outstanding or by being converted into voting securities of the surviving entity) at least 80% of the combined voting power of the
voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or if the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or
disposition by the Company of all or substantially all the Company’s assets. 
 6. To the extent Indemnitee is successful in such
proceeding, the Company shall indemnify Indemnitee against any and all expenses (including attorneys’ fees) which are incurred by the Indemnitee in connection with any claim asserted or action brought by Indemnitee for (i) indemnification
or advance payment of Expenses by the Company under this Agreement or any other agreement or Company Bylaws now or hereafter in effect relating to Claims for Indemnifiable Events and/or (ii) recovery under any directors’ and officers’
liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance payment of Expenses or insurance recovery, as the case may be. 
 7. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments,
fines, penalties and amounts paid in settlement of any Claim but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. Notwithstanding any
other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in the defense of any Claim relating in whole or in part to any Indemnifiable Event or in defense of any issue or matter therein,
including dismissal without prejudice, Indemnitee shall be indemnified against all Expenses incurred in connection therewith. 
 8. For
purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that
Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that Indemnitee is not entitled to indemnification or expense advance or that indemnification or expense advance is not permitted
by applicable law. 
 9. The Company represents that it presently has in force and effect Directors’ and Officers’ Liability
Insurance on behalf of Indemnitee against certain customary liabilities which may be asserted against or incurred by Indemnitee. The Company hereby agrees that, so long as Indemnitee shall continue to serve in a capacity referred to in
Section 1 hereof, and thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that
Indemnitee served in any capacity referred to in Section 1 hereof, the Company shall purchase and maintain in effect for the 

 
benefit of Indemnitee such insurance providing, in all respects, coverage at least comparable to that presently provided; provided, however, if, in the
business judgment of the then Board, either (a) the premium cost for such insurance is substantially disproportionate to the amount of coverage, or (b) the coverage provided by such insurance is so limited by exclusions that there is
insufficient benefit from such insurance, then and in that event the Company shall not be required to maintain such insurance but shall and hereby agrees to the full extent permitted by law to hold harmless and indemnify Indemnitee to the fullest
extent of the coverage which would otherwise have been provided for the benefit of Indemnitee. 
 10. (a) In the event of any changes
after the date of this Agreement in any applicable law, statute, or rule which expands the right of the Company to indemnify a person serving in a capacity referred to in Section 1 hereof, such change shall be within the purview of
Indemnitee’s rights, and the Company’s obligations, under this Agreement. In the event of any changes in any applicable law, statute, or rule which narrow the right of the Company to indemnify a person serving in a capacity referred to in
Section 1 hereof, such changes, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations hereunder. 
 (b) The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled under
the Company’s Certificate of Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested directors, laws and regulations in effect now or in the future, or otherwise, both as to action in Indemnitee’s official
capacity and as to action in another capacity while holding such office. 
 11. If the indemnification provided in Section 1 is
unavailable and may not be paid to Indemnitee because such indemnification is not permitted by law, then in respect of any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such action, suit or proceeding), the Company shall contribute to the full extent permitted by law, to the amount of expenses, judgments, fines (including excise taxes and penalties) and amounts paid in settlement actually and
reasonably incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on the one hand and Indemnitee on the other hand from the transaction from which such
action, suit or proceeding arose, and (ii) the relative fault of the Company on the one hand and of Indemnitee on the other in connection with the events which resulted in such expenses, judgments, fines or settlement amounts, as well as any
other relevant equitable considerations. The relative fault of the Company on the one hand and of Indemnitee on the other shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent the 

 
circumstances resulting in such expenses, judgments, fines or settlement amounts. The Company agrees that it would not be just and equitable if contribution
pursuant to this paragraph were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations. 
 12. All obligations of the Company contained herein shall continue during the period Indemnitee serves in a capacity referred to in Section 1 hereof of the Company and shall continue thereafter so long as
Indemnitee shall be subject to any possible Claim relating to an Indemnifiable Event. 
 13. (a) Promptly after receipt by Indemnitee of
notice of the commencement of any Claim relating to an Indemnifiable Event or proceeding in which Indemnitee is made or is threatened to be made a party or a witness, Indemnitee shall notify the Company of the commencement of such Claim; but the
omission so to notify the Company shall not relieve the Company from any obligation it may have to indemnify or advance expenses to Indemnitee otherwise than under this Agreement. 
 (b) Indemnitee shall not settle any claim or action in any manner which would impose on the Company any penalty, constraint, or obligation
to hold harmless or indemnify Indemnitee pursuant to this Agreement without the Company’s prior written consent, which consent shall not be unreasonably withheld. 
 14. If any Claim relating to an Indemnifiable Event, commenced against Indemnitee is also commenced against the Company, the Company shall be entitled to participate therein at its own expense, and, except as
otherwise provided hereinbelow, to the extent that it may wish, the Company shall be entitled to assume the defense thereof. After notice from the Company to Indemnitee of its election to assume the defense of any Claim, the Company shall not be
obligated to Indemnitee under this Agreement for any legal or other expenses subsequently incurred by Indemnitee in connection with the defense thereof other than reasonable costs of investigation, travel and lodging expenses arising out of
Indemnitee’s participation in such Claim. Indemnitee shall have the right to employ Indemnitee’s own counsel in such Claim, but the fees and expenses of such counsel incurred after notice from the Company to Indemnitee of its assumption of
the defense thereof shall be at the expense of Indemnitee unless (i) otherwise authorized by the Company, (ii) Indemnitee shall have reasonably concluded, and so notified the Company, that there may be a conflict of interest between the
Company and Indemnitee in the conduct of the defense of such Claim, or (iii) the Company shall not in fact have employed counsel to assume the defense of such Claim, in which cases the fees and expenses of Indemnitee’s counsel shall be at
the expense of the Company. The Company shall not be entitled to assume the defense of any claim brought by or on behalf of the Company or its stockholders or as to which Indemnitee shall have made the conclusion set forth in (ii) of this
Section 14. 

 15. No supplement, modification or amendment of this Agreement shall be binding unless executed in
writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 16. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of
recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such
rights. 
 17. The Company shall not be liable under this Agreement to make any payment in connection with any claim made against Indemnitee
to the extent Indemnitee has otherwise actually received payment (under any insurance policy, Bylaw or otherwise) of the amounts otherwise indemnifiable hereunder. 
 18. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger,
consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, executors, and personal and legal representatives. This Agreement shall continue in effect regardless of whether Indemnitee
continues to serve as an officer or director of the Company or of any other enterprise at the Company’s request. 
 19. The provisions
of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise
unenforceable, and the remaining provisions shall remain enforceable to the full extent permitted by law. 
 20. This Agreement shall be
governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to contracts made and to be performed in such state, but excluding any conflicts-of-law rule or principle which might refer such governance,
construction or enforcement to the laws of another state or country. 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year first
above written. 
  

			
	CRANE CO.
		
	By:	 	  
		 	

  

	
	INDEMNITEE
	
	   
	

 **************** 
 Agreements in substantially the above form have been entered into by the company with the following directors and executive officers on the following dates: 
  

			
	Robert S. Evans	  	January 22, 1996
	E. Thayer Bigelow, Jr.	  	January 22, 1996
	Richard S. Forte	  	January 22, 1996
	Dorsey R. Gardner	  	January 22, 1996
	Dwight C. Minton	  	January 22, 1996
	Charles J. Queenan, Jr.	  	January 22, 1996
	Augustus I. duPont	  	January 22, 1996
	Anthony D. Pantaleoni	  	January 22, 1996
	Bradley L. Ellis	  	August 18, 1997
	James L. L. Tullis	  	April 20, 1998
	William E. Lipner	  	January 25, 1999
	Eric C. Fast	  	September 9, 1999
	Thomas M. Noonan	  	September 27, 1999
	Elise M. Kopczick	  	January 22, 2001
	Jean Gaulin	  	May 21, 2001

			
	Joan Atkinson Nano	  	November 26, 2001
	Max H. Mitchell	  	March 8, 2004
	Karen E. Dykstra	  	April 26, 2004
	J. Robert Vipond	  	March 10, 2005
	Curtis P. Robb	  	July 7, 2005
	Donald G. Cook	  	August 2, 2005
	Thomas J. Perlitz	  	September 6, 2005
	Ronald F. McKenna	  	January 23, 2006Time Sharing Agreements effective as of January 30, 2007

 EXHBIT 10.3 
 On January 20, 2007, Crane Co. entered into a Time Sharing Agreement with each of Mr. Robert S. Evans and Mr. Eric C. Fast, in the following form: 
 TIME SHARING AGREEMENT 
 This Agreement is made, effective as of
January 30, 2007 by and between Crane Co., a corporation incorporated under the laws of the State of Delaware, with principal offices at 100 First Stamford Place, Stamford, Connecticut (“Lessor”), and Eric. C. Fast,, an
individual, with his residence at Greenwich, Connecticut (“Lessee”); 
 RECITALS 
 WHEREAS, Lessor is the owner of that certain civil Aircraft bearing the United States Registration Number N900LS (to be changed to N300CR) and
Manufacturer’s Serial Number 1401, and of the type Gulfstream G1159C (“Aircraft”); 
 WHEREAS, Lessor employs a fully
qualified flight crew to operate the Aircraft; and 
 WHEREAS, Lessor and Lessee desire to lease said Aircraft and flight crew on a time
sharing basis as defined in Section 91.501 (c) (1) of the Federal Aviation Regulations (“FARs”). 
 The parties
agree as follows: 
 1. Lessor agrees to lease the Aircraft to Lessee pursuant to the provisions of FAR 91.501 (c) (1) and to
provide a fully qualified flight crew for all operations pursuant to this Agreement. This Agreement shall commence on the date that it is signed and continue for one (1) year after said date. Thereafter, this Agreement shall be automatically
renewed on a month to month basis, unless sooner terminated by either party as hereinafter provided. Either party may at any time terminate this Agreement upon thirty (30) days written notice to the other party, delivered personally or by
certified mail, return receipt requested, at the address for said other party as set forth above. 
 2. Lessee shall pay Lessor for each
flight conducted under this Agreement an amount equal to the lesser of: (a) the amount calculated under Treas. Reg. §1.61-21(g), employing the SIFL rates; or (b) the sum of the following actual expenses of each specific flight as
authorized by FAR Part 91.501 (d): 
  

	 	(i)	Fuel, oil, lubricants, and other additives; 

  

	 	(ii)	Travel expenses of the crew, including food, lodging and ground transportation; 

  

	 	(iii)	Hangar and tie down costs away from the Aircraft’s base of operation; 

  

	 	(iv)	Insurance obtained for the specific flight; 

  

	 	(v)	Landing fees, airport taxes and similar assessments including, but not limited to IRC Section 4261 and related excise taxes; 

  

	 	(vi)	Customs, foreign permit, and similar fees directly related to the flight; 

  

	 	(vii)	In-flight food and beverages; 

	 	(viii)	Passenger ground transportation; 

  

	 	(ix)	Flight planning and weather contract services; and 

  

	 	(x)	An additional charge equal to 100% of the expenses listed in subparagraph (i) of this paragraph. 

 3. Lessor will pay all expenses related to the operation of the Aircraft when incurred, and will provide an invoice and bill Lessee for the expenses
enumerated in paragraph 2 above on the last day of the month in which any flight or flights for the account of Lessee occur. Lessee shall pay Lessor for said expenses within fifteen days of receipt of the invoice and bill therefor. 
 4. Lessee will provide Lessor with requests for flight time and proposed flight schedules as far in advance of any given flight as possible, and in any
case, at least forty-eight hours in advance of Lessee’s planned departure. Requests for flight time shall be in a form, whether written or oral, mutually convenient to, and agreed upon by the parties. In addition to the proposed schedules and
flight times Lessee shall provide at least the following information for each proposed flight at some time prior to scheduled departure as required by the Lessor or Lessor’s flight crew: 
  

	 	(a)	proposed departure point; 

  

	 	(b)	destination; 

  

	 	(c)	date and time of flight; 

  

	 	(d)	the number of anticipated passengers; 

  

	 	(e)	the nature and extent of luggage and/or cargo to be carried; 

  

	 	(f)	the date and time of return flight, if any; and 

  

	 	(g)	any other information concerning the proposed flight that may be pertinent or required by Lessor or Lessor’s flight crew. 

 5. Lessor shall have final authority over the scheduling of the Aircraft, provided, however, that Lessor will use its best efforts to accommodate
Lessee’s needs and to avoid conflicts in scheduling. 
 6. Lessor shall be solely responsible for securing maintenance, preventive
maintenance and required or otherwise necessary inspections on the Aircraft, and shall take such requirements into account in scheduling the Aircraft. No period of maintenance, preventative maintenance or inspection shall be delayed or postponed for
the purpose of scheduling the Aircraft, unless said maintenance or inspection can be safely conducted at a later time in compliance with all applicable laws and regulations, and within the sound discretion of the pilot in command. The pilot in
command shall have final and complete authority to cancel any flight for any reason or condition which in his judgement would compromise the safety of the flight. 
 7. Lessor shall employ, pay for and provide to Lessee a qualified flight crew for each flight undertaken under this Agreement. 
  

 2 

 8. In accordance with applicable Federal Aviation Regulations, the qualified flight crew provided by
Lessor will exercise all of its duties and responsibilities in regard to the safety of each flight conducted hereunder. Lessee specifically agrees that the flight crew, in its sole discretion, may terminate any flight, refuse to commence any flight,
or take other action which in the considered judgement of the pilot in command in necessitated by considerations of safety. No such action of the pilot in command shall create or support any liability for loss, injury, damage or delay to Lessee or
any other person. The parties further agree that Lessor shall not be liable for delay or failure to furnish the Aircraft and crew pursuant to this Agreement when such failure is caused by government regulation or authority, mechanical difficulty,
war, civil commotion, strikes or labor disputes, weather conditions, or acts of God. 
 9. Lessor will provide such additional insurance
coverage as Lessee shall request or require, provided, however, that the cost of such additional insurance shall be borne by Lessee as set forth in paragraph 2(d) hereof. At all times during the term of this Lease, Lessor shall cause to be carried
and maintained, at Lessor’s cost and expense, physical damage insurance with respect to the Aircraft in the amount set forth below: 
  

				
	 Aircraft Physical Damage
(No Deductible While In Motion or Not In Motion)
	  	$	11,000,000

 At all times during the term of this Lease, Lessor shall also cause to be carried and maintained,
at Lessor’s cost and expense, third party aircraft liability insurance, passenger legal liability insurance, property damage liability insurance, and medical expense insurance in the amounts set forth below: 
  

				
	 Combined Liability Coverage for Bodily Injury and Property Damage Including Passengers - Each Occurrence
	  	$	500,000,000
	Medical Expense Coverage - Each Person	  	$	 25,000

 Lessor shall also bear the cost of paying any deductible amount on any policy of insurance in the
event of a claim or loss. 
 Any policies of insurance carried in accordance with this Lease: (i) shall name Lessee as an additional
insured; and (ii) shall contain a waiver by the underwriter thereof of any right of subrogation against Lessee; and (iii) shall provide that in respect of the interests of Lessee, such policies of insurance shall not be invalidated by any
action or inaction of Lessor or any other person and shall insure Lessee (subject to the limits of liability and war risk exclusion set forth in such policies) regardless of any breach or any violation of any warranty, declarations or conditions

  

 3 

 
contained in such policies by Lessor or any other person; and (iv) shall provide that if the insurers cancel insurance for any reason whatsoever, or the
same is allowed to lapse for non-payment of premium, or if there is any material change in policy terms and conditions, such a cancellation, lapse or change shall not be effective as to Lessee. Each liability policy shall be primary without right of
contribution from any other insurance which is carried by Lessee or Lessor and shall expressly provide that all of the provisions thereof, except the limits of liability, shall operate in the same manner as if there were a separate policy covering
each insured. 
 Lessor shall submit this Lease for approval to the insurance carrier for each policy of insurance on the Aircraft. Lessor
shall arrange for a Certificate of Insurance evidencing appropriate coverage as to the Aircraft and the satisfaction of the requirements set forth above to be given by its insurance carriers to Lessor. 
 10. Lessee warrants that: 
 (a) It will use the Aircraft for and on account of its own business only, and will not use the Aircraft for the purpose of providing transportation of passengers or cargo in air commerce for compensation or hire; 
 (b) it shall refrain from incurring any mechanics or other lien in connection with inspection, preventative maintenance, maintenance or
storage of the Aircraft, whether permissible or impermissible under this Agreement, nor shall there be any attempt by any party hereto to convey, mortgage, assign, lease or any way alienate the Aircraft or create any kind of lien or security
interest involving the Aircraft or do anything or take any action that might mature into such a lien; and 
 (c) during the
term of this Agreement, it will abide by and conform to all such laws, governmental and airport orders, rules and regulations, as shall from time to time be in effect relating in any way to the operation and use of the Aircraft by a timesharing
Lessee. 
 11. For purposes of this Agreement, the permanent base of operation of the Aircraft shall be Hanger V, 154 Airport Road, White
Plains, New York, 10604. 
 12. Neither this Agreement nor any party’s interest herein shall be assignable to any other party
whatsoever. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their heirs, representatives and successors. 

 13. TRUTH IN LEASING STATEMENT 
 THE AIRCRAFT, A Gulfstream G1159C, MANUFACTURER’S SERIAL NO. 1401, CURRENTLY REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS
N900LS (TO BE CHANGED TO N300CR), HAS BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12 MONTH PERIOD PRECEDING THE DATE OF THIS LEASE. 
 THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FAR PART 91 FOR OPERATIONS TO BE CONDUCTED UNDER THIS LEASE. DURING THE DURATION OF THIS LEASE, Crane Co., 100 First Stamford Place, Stamford, Connecticut, IS CONSIDERED RESPONSIBLE
FOR OPERATIONAL CONTROL OF THE AIRCRAFT UNDER THIS LEASE. 
 AN EXPLANATION OF FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL
AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. 
 THE “INSTRUCTIONS FOR COMPLIANCE WITH
TRUTH IN LEASING REQUIREMENTS” ATTACHED HERETO ARE INCORPORATED HEREIN BY REFERENCE. 
 I, THE UNDERSIGNED Augustus I. duPont, AS VICE
PRESIDENT, SECRETARY & GENERAL COUNSEL OF Crane Co., CERTIFY THAT Crane Co. IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT AND THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

 IN WITNESS WHEREOF, the parties have executed this Agreement. 
  

					
		 		 	
			
	   	 		 	January 30, 2007         12:00 noon
	Augustus I. duPont
                                        
      V.P., Lessor	 		 	Date and Time of Execution

  

					
		 		 	
			
	   	 		 	January 30, 2007         12:00 noon
	[Name]
                                        
                                  Lessee	 		 	Date and Time of Execution

 INSTRUCTIONS FOR COMPLIANCE WITH “TRUTH IN LEASING” 
 REQUIREMENTS 
  

	1.	Mail a copy of the lease to the following address via certified mail, return receipt requested, immediately upon execution of the lease (14 C.F.R. 91.23 requires that the copy be
sent within twenty-four hours after it is signed): 

 Federal Aviation Administration 
 Aircraft Registration Branch 
 ATTN: Technical
Section 
 P.O. Box 25724 
 Oklahoma City, Oklahoma 73125 
  

	2.	Telephone the nearest Flight Standards District Office at least forty-eight hours prior to the first flight under this lease. 

  

	3.	Carry a copy of the lease in the aircraft at all times.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}]]