Document:

Exhibit 10.1

 

First Supplement to Note
Purchase Agreement

This
First Supplement is entered into as of April 16, 2015 (this “First Supplement”) between Donaldson
Company, Inc., a Delaware corporation (the “Company”), and the Purchasers listed in the attached Schedule A
(the “Purchasers”).

 

Recitals

A.        The Company
has entered into a Note Purchase Agreement dated as of March 27, 2014 with the purchasers listed in Schedule A thereto (as
amended by that First Amendment to the Note Purchase Agreement dated as of March 9, 2015 and as heretofore amended and supplemented,
the “Note Purchase Agreement”); and

B.        The Company
desires to issue and sell, and the Purchasers desire to purchase, three additional series of Notes (as defined in the Note Purchase
Agreement) pursuant to the Note Purchase Agreement and in accordance with the terms set forth below;

Now,
Therefore, the Company and the Purchasers agree as follows:

1.        Authorization
of the New Notes. The Company has authorized the issue and sale of (a) $25,000,000 aggregate principal amount of Notes
to be designated as its 2.93% Senior Notes, Series 2015-A, due April 16, 2025 (the “Series 2015-A Notes,”
such term to include any such Notes issued in substitution therefor pursuant to Section 13 of the Note Purchase Agreement)
and (b) $125,000,000 aggregate principal amount of Notes to be designated as its 3.18% Senior Notes, Series 2015-B, due June 17,
2030 (the “Series 2015-B Notes,” such term to include any such Notes issued in substitution therefor
pursuant to Section 13 of the Note Purchase Agreement; together with the Series 2015-A Notes, the “Notes”).
The Notes shall be substantially in the forms set out in Exhibit 1(a) and Exhibit 1(b), respectively, with such changes therefrom,
if any, as may be approved by you and the Company.

2.        Sale
and Purchase of the Notes. Subject to the terms and conditions of this First Supplement and the Note Purchase Agreement,
the Company will issue and sell to each of the Purchasers, and the Purchasers will purchase from the Company, at the related Closing
provided for in Section 3, Series 2015-A Notes and/or Series 2015-B Notes
in the principal amount specified opposite their respective names in Schedule A at the purchase price of 100% of the
principal amount thereof. The obligations of the Purchasers hereunder are several and not joint obligations and no Purchaser shall
have any liability to any Person for the performance or non-performance by any other Purchaser hereunder.

3.        Closing.
The sale and purchase of the (a) Series 2015-A Notes to be purchased by the Purchasers shall occur at a closing (the
“First Closing”) on April 16, 2015 or on such other Business Day thereafter on or prior to April 20, 2015
as may be agreed upon by the Company and the Purchasers of the Series 2015-A Notes and (b) Series 2015-B Notes to be purchased
by the Purchasers shall occur at a closing (the

    	 

    	 

    

“Second Closing”)
on June 25, 2015 or on such other Business Day thereafter on or prior to June 29, 2015 as may be agreed upon by the Company
and the Purchasers of the Series 2015-B Notes at the offices of Chapman and Cutler LLP, 111 West Monroe Street, Chicago, Illinois
60603 at 9:00 a.m., Chicago time. The First Closing and Second Closing are each referred to herein as a “Closing”
and collectively, as the “Closings”. At each Closing, the Company will deliver to each Purchaser the Notes
to be purchased by it in the form of a single Note (or such greater number of Series 2015-A Notes or Series 2015-B Notes in denominations
of at least $500,000 as such Purchaser may request) dated the date of such Closing and registered in its name (or in the name of
its nominee), against delivery by such Purchaser to the Company or its order of immediately available funds in the amount of the
purchase price therefor by wire transfer of immediately available funds for the account of the Company to account number 1-502-5005-4130
at U.S. Bank, SWIFT Code: USBKUS44IMT, ABA Routing Number: 091000022 to the Account Name of Donaldson Company, Inc. If at a Closing,
the Company shall fail to tender such Notes to a Purchaser as provided above in this Section 3, or any of the conditions specified
in Section 4 of the Note Purchase Agreement, as modified or expanded by Section 4 hereof, shall not have been fulfilled
to such Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this
Agreement, without thereby waiving any rights it may have by reason of such failure or such nonfulfillment.

4.        Conditions
to Closing. Each Purchaser’s obligation to purchase and pay for the Notes
to be sold to it at each Closing is subject to the fulfillment to its satisfaction, prior to or at the Closing, of the conditions
set forth in Section 4 of the Note Purchase Agreement, as hereafter modified.

5.        Representations
and Warranties of the Company. The Company represents and warrants to the Purchasers that each of the representations and warranties
contained in Section 5 of the Note Purchase Agreement is true and correct as of the date of each Closing (i) except that
all references to “Purchaser” and “you” therein shall be deemed to refer to the Purchasers hereunder, all
references to “this Agreement” shall be deemed to refer to the Note Purchase Agreement as supplemented by this First
Supplement, all references to “Notes” therein shall be deemed to include the Series  2015-A Notes and the
Series 2015-B Notes, and (ii) except for changes to such representations
and warranties or the Schedules referred to therein, which changes are set forth in the attached Schedule 5.

6.        Representations
of the Purchasers. Each Purchaser confirms to the Company that the representations set forth in Section 6 of the Note
Purchase Agreement are true and correct as to such Purchaser.

7.        (a)       Mandatory
Prepayment of the Series 2015-A Notes. The Series 2015-A Notes are not subject to mandatory prepayment by the Company.

 

    	2

    	 

    

(b)        Optional
Prepayments. The Series 2015-A Notes are subject to prepayment at the option of the Company in the manner and with the
effect set forth in Section 8.2 of the Note Purchase Agreement.

(c)        Allocation
of Partial Prepayments. In the case of each partial prepayment of the Series 2015-A Notes pursuant to the provisions of
Section 8.2 of the Note Agreement, the principal amount of the Series 2015-A Notes to be prepaid shall be allocated in the
manner and with the effect set forth in Section 8.3 of the Note Purchase Agreement.

(d)        Make-Whole
Amount for Series 2015-A Notes. The term “Make-Whole Amount” means with respect to any Series 2015-A
Note an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called
Principal of such Series 2015-A Note, minus the amount of such Called Principal, provided that the Make-Whole
Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following
meanings with respect to the Called Principal of such Series 2015-A Note:

“Called
Principal” means, the principal of any Series 2015-A Note that is to be prepaid pursuant to Section 8.2 or
has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

“Discounted
Value” means, with respect to the Called Principal of any Series 2015-A Note, the amount obtained by discounting
all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement
Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on
the same periodic basis as that on which interest on such Note is payable) equal to the Reinvestment Yield with respect to such
Called Principal.

“Reinvestment
Yield” means, with respect to the Called Principal of any Note, .50% over the yield to maturity implied by the yield(s)
reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such
Called Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg
Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”)
having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there are no such
U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will
be determined by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial
practice and (b) interpolating linearly between the yields Reported for the applicable most recently issued actively traded
on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest
to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears
in the interest rate of the applicable Note.

 

    	3

    	 

    

If such
yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then
“Reinvestment Yield” means, with respect to the Called Principal of any Note, .50% over the yield to maturity
implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported
as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical
Release H.15 (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining
Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a
term equal to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between
(1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the
U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment
Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note.

“Remaining
Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled
Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year composed
of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such
Called Principal and the scheduled due date of such Remaining Scheduled Payment.

“Remaining
Scheduled Payments” means, all payments of such Called Principal and interest thereon that would be due after the Settlement
Date if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement
Date is not a date on which interest payments are due to be made under the terms of such Note, then the amount of the next succeeding
scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on
such Settlement Date pursuant to Section 8.4 or Section 12.1.

“Settlement
Date” means, the date on which such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is
declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

8.        (a)       Mandatory
Prepayment of the Series 2015-B Notes. The Series 2015-B Notes are not subject to mandatory prepayment by the Company.

(b)
        Optional Prepayments. The Series 2015-B Notes are subject to prepayment at the option of the Company in the manner
and with the effect set forth in Section 8.2 of the Note Purchase Agreement.

(c)        Allocation
of Partial Prepayments. In the case of each partial prepayment of the Series 2015-B Notes pursuant to the provisions
of Section 8.2 of the

 

    	4

    	 

    

Note Agreement, the principal amount of the Series 2015-B
Notes to be prepaid shall be allocated in the manner and with the effect set forth in Section 8.3 of the Note Purchase Agreement.

(d)        
Make-Whole Amount for Series 2015-B Notes. The term “Make-Whole Amount” means with respect to any Series 2015-B
Note an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called
Principal of such Series 2015-B Note, minus the amount of such Called Principal, provided that the Make-Whole
Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following
meanings with respect to the Called Principal of such Series 2015-B Note:

“Called
Principal” means, the principal of any Series 2015-B Note that is to be prepaid pursuant to Section 8.2 or
has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

“Discounted
Value” means, with respect to the Called Principal of any Series 2015-B Note, the amount obtained by discounting
all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement
Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on
the same periodic basis as that on which interest on such Note is payable) equal to the Reinvestment Yield with respect to such
Called Principal.

“Reinvestment
Yield” means, with respect to the Called Principal of any Note, .50% over the yield to maturity implied by the yield(s)
reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such
Called Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg
Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”)
having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there are no such
U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will
be determined by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial
practice and (b) interpolating linearly between the yields Reported for the applicable most recently issued actively traded
on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest
to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears
in the interest rate of the applicable Note.

If such
yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then
“Reinvestment Yield” means, with respect to the Called Principal of any Note, .50% over the yield to maturity
implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported
as of the second Business Day preceding the Settlement

 

    	5

    	 

    

Date with
respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the
U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement
Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield
to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term
closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term
closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as
appears in the interest rate of the applicable Note.

“Remaining
Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled
Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year composed
of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such
Called Principal and the scheduled due date of such Remaining Scheduled Payment.

“Remaining
Scheduled Payments” means, all payments of such Called Principal and interest thereon that would be due after the Settlement
Date if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement
Date is not a date on which interest payments are due to be made under the terms of such Note, then the amount of the next succeeding
scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on
such Settlement Date pursuant to Section 8.4 or Section 12.1.

“Settlement
Date” means, the date on which such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is
declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

9.        Applicability
of Note Purchase Agreement. Except as otherwise expressly provided herein (and expressly permitted by the Note Purchase Agreement),
all of the provisions of the Note Purchase Agreement are incorporated by reference herein and shall apply to the Series 2015-A
Notes and Series 2015-B Notes as if expressly set forth in this First Supplement.

 

    	6

    	 

    

In
Witness Whereof, the Company and the Purchasers have caused this First Supplement to be executed and delivered as of the
date set forth above.

 

	 	Donaldson Company, Inc.	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	/s/	James F. Shaw	 
	 	Name:	 	James F. Shaw	 
	 	Title:	 	Vice President and Chief Financial Officer	 

 

 

 

 

 

 

 

 

 

 

    	7

    	 

    

This Agreement is hereby accepted and agreed to as of the date
thereof.

 

	 	The Northwestern Mutual Life Insurance Company	 
	 	 	 	 
	 	By:	Northwestern Mutual Investment Management Company, LLC, its investment adviser	 
	 	 	 	 
	 	 	 	 
	 	By	/s/ Timothy S. Collins	 
	 	 	Name: Timothy S. Collins	 
	 	 	Title:   Managing Director	 
	 	 	 	 
	 	 	 	 
	 	The Northwestern Mutual Life Insurance Company for its Group Annuity Separate Account	 
	 	 	 	 
	 	By	/s/ Timothy S. Collins	 
	 	 	Name: Timothy S. Collins	 
	 	 	Title:   Authorized Representative	 

 

 

 

 

 

 

    	8

    	 

    

This Agreement is hereby accepted and agreed to as of the
date thereof.

 

	 	
        Voya
        Retirement Insurance and Annuity Company

        Voya Insurance
        and Annuity Company

        Reliastar
        Life Insurance Company
	 
	 	 	 	 
	 	By:	Voya Investment Management LLC, as Agent	 
	 	 	 	 
	 	 	 	 
	 	By	/s/ Christopher P. Lyons	 
	 	 	Name: Christopher P. Lyons	 
	 	 	Title:   Managing Director	 
	 	 	 	 

 

 

 

 

 

 

 

 

    	9

    	 

    

This Agreement is hereby accepted and agreed to as of the
date thereof.

 

	 	
        Metropolitan
        Life Insurance Company

         

        First
        MetLife Investors Insurance Company

        By Metropolitan Life Insurance
        Company, its Investment Manager

         

        General
        American Life Insurance Company

        By Metropolitan Life Insurance
        Company, its Investment Manager

         

        MetLife
        Insurance Company USA

        By Metropolitan Life Insurance
        Company, its Investment Manager
	 
	 	 	 	 
	 	By	/s/ Frank Monfalcone	 
	 	 	Name: Frank Monfalcone	 
	 	 	Title:   Director	 
	 	 	 	 
	 	 	 	 
	 	
        Erie
        Family Life Insurance Company

        By MetLife Investment Management,
        LLC, its Investment Manager
	 
	 	 	 	 
	 	By	/s/ Frank Monfalcone	 
	 	 	Name: Frank Monfalcone	 
	 	 	Title:   Director	 
	 	 	 	 
	 	 	 	 
	 	
        Union
        Fidelity Life Insurance Company

        By MetLife Investment Management,
        LLC, its Investment Adviser
	 
	 	 	 	 
	 	By	/s/ Frank Monfalcone	 
	 	 	Name: Frank Monfalcone	 
	 	 	Title:   Director	 

 

 

 

    	10

    	 

    

This Agreement is hereby accepted and agreed to as of the
date thereof.

 

	 	Mutual of Omaha Insurance Company	 
	 	 	 	 
	 	By	/s/ Justin P. Kavan	 
	 	 	Name: Justin P. Kavan	 
	 	 	Title:   Vice President	 
	 	 	 	 
	 	 	 	 
	 	United of Omaha Life Insurance Company	 
	 	 	 	 
	 	By	/s/ Justin P. Kavan	 
	 	 	Name: Justin P. Kavan	 
	 	 	Title:   Vice President	 
	 	 	 	 
	 	 	 	 
	 	Companion Life Insurance Company	 
	 	 	 	 
	 	By	/s/ Justin P. Kavan	 
	 	 	Name: Justin P. Kavan	 
	 	 	Title:   Vice President	 
	 	 	 	 
	 	 	 	 
	 	United World Life Insurance Company	 
	 	 	 	 
	 	By	/s/ Justin P. Kavan	 
	 	 	Name: Justin P. Kavan	 
	 	 	Title:   Vice President	 

 

 

 

    	11

    	 

    

This Agreement is hereby accepted and agreed to as of the
date thereof.

 

	 	Jackson National Life Insurance Company	 
	 	 	 	 
	 	By:	PPM America, Inc., as attorney in fact, on behalf of Jackson National Life Insurance Company	 
	 	 	 	 
	 	By	/s/ Luke S. Stifflear	 
	 	 	Name: Luke S. Stifflear	 
	 	 	Title:   Sr. Managing Director	 
	 	 	 	 
	 	 	 	 
	 	Jackson National Life Insurance Company of New York	 
	 	 	 	 
	 	By:	PPM America, Inc., as attorney in fact, on behalf of Jackson National Life Insurance Company of New York	 
	 	 	 	 
	 	By	/s/ Luke S. Stifflear	 
	 	 	Name: Luke S. Stifflear	 
	 	 	Title:   Sr. Managing Director	 
	 	 	 	 
	 	 	 	 

 

 

 

    	12

    	 

    

This Agreement is hereby accepted and agreed to as of the
date thereof.

 

	 	Modern Woodmen of America	 
	 	 	 	 
	 	 	 	 
	 	By	/s/ Brett M. Van	 
	 	 	Name: Brett M. Van	 
	 	 	Title:   Treasurer & Investment Manager	 

 

 

 

 

 

 

 

 

 

 

    	13

    	 

    

This Agreement is hereby accepted and agreed to as of the
date thereof.

 

	 	The State Life Insurance Company	 
	 	 	 	 
	 	By:	American United Life Insurance Company	 
	 	Its:	Agent	 
	 	 	 	 
	 	 	 	 
	 	By	/s/ David M. Weisenburger	 
	 	 	Name: David M. Weisenburger	 
	 	 	Title:   VP, Fixed Income Securities	 

 

 

 

 

 

 

 

    	14

    	 

    

Schedule 5

to First Supplement

Exceptions to
representations

and warranties

Subsidiaries and Ownership

of Subsidiary Stock

 

(i) Company Subsidiaries

 

* Unless otherwise note, all listed subsidiaries are owned
100% by Donaldson Company Inc., or a Subsidiary of Donaldson Company Inc. Indentations indicate level of ownership.

 

Donaldson Capital, Inc. (U.S.A.)

ASHC, Inc. (U.S.A.)

Prestadora de Servicios Aguascalientes,
S. de R.L. de C.V. (Mexico)

Aerospace Filtration Systems, Inc. (U.S.A.)

Donaldson do Brasil Equipamentos Industriais Ltda (Brazil)

Donaldson, S.A. de C.V. (Mexico)

Donaldson Colombia S.A.S (Colombia)

Donaldson Chile, Ltd. (Chile)

Donaldson Peru SAC (Peru)

Donaldson Canada, Inc. (Canada)

Donaldson Filtration (Thailand) Ltd. (Thailand)

Donaldson Filtration (Philippines) Inc. (Philippines)

Donaldson India Filter Systems Pvt. Ltd. (India)

DLX Capital S.a.r.l. (Luxembourg)

DLX USD FIN Co S.a.r.l. (Luxembourg)

Donaldson Overseas Holding S.a.r.l. (Luxembourg)

Nippon Donaldson Ltd. (Japan)

Donaldson Filtration (Malaysia) Sdn. Bhd.
(Malaysia)

Donaldson Korea Co., Ltd. (South Korea)

Donaldson Australasia Pty. Ltd. (Australia)

Donaldson Filtration (Asia Pacific) Pte.
Ltd. (Singapore)

P.T. Donaldson Filtration Indonesia (Indonesia)

Donaldson Luxembourg S.a.r.l (Luxembourg)

Donaldson Ibèrica Soluciones en Filtración,
S.L. (Spain)

Donaldson Schweiz GmbH (Switzerland)

Donaldson Polska Sp. z.o.o. (Poland)

Donaldson Filtre Sistemleri Ticaret Limited
Sirketi (Turkey)

Donaldson Filtration Österreich, GmbH
(Austria)

Donaldson Europe, b.v.b.a. (Belgium)

Donaldson Belgie, b.v.b.a. (Belgium)

Northern Technical L.L.C. (United Arab
Emirates)

Donaldson Filtration Systems (Pty) Ltd.
(South Africa)

 

Schedule 5

 

    	15

    	 

    

 

Donaldson Filtration Deutschland GmbH (Germany)

Donaldson Filtration Magyarorszag Kft. (Hungary)

Donaldson Filtration Slovensko s.r.o. (Slovakia)

Donaldson Filtration Norway a.s. (Norway)

Donaldson Italia s.r.l. (Italy)

Donaldson Nederland B.V. (Netherlands)

Donaldson Scandinavia a.p.s. (Denmark)

Donaldson Filtration CR - Konzern s.r.o. (Czech Republic)

Donaldson Industrial CR - Konzern s.r.o. (Czech Republic)

Donaldson Czech Republic s.r.o. (Czech Republic)

Donaldson France, s.a.s. (France)

Ultrafilter s.a.s. (France)

Donaldson, s.a.s. (France)

Le Bozec Filtration et Systèmes, s.a.s. (France)

Donaldson UK Holding Ltd. (United Kingdom)

Donaldson Filtration (GB) Ltd. (United Kingdom)

Donaldson Filter Components Ltd. (United Kingdom)

Donaldson Taiwan Ltd. (Taiwan)

Donaldson Far East Ltd. (China)

Donaldson (China) Holding Co., Ltd. (China)

Donaldson (China) Trading Co., Ltd. (China)

Donaldson (Wuxi) Filters Co., Ltd. (China)

Donaldson (Xuzhou) Filters Co. Ltd. (China)

Donaldson (Thailand) Ltd. (Thailand)

 

(ii) Company Affiliates

 

Advanced Filtration Systems Inc. (U.S.A.) – 50%

P.T. Panata Jaya Mandiri (Indonesia) – 30%

Rashed Al-Rashed & Sons - Donaldson Company Ltd. (Saudi
Arabia) – 49%

 

(iii) Company Directors and Senior Officers

 

Directors:

William M. Cook, Chairman, Donaldson Company, Inc.

Tod E. Carpenter, President and CEO, Donaldson Company, Inc.

Andrew J. Cecere, Vice Chairman and COO, U.S. Bancorp

Michael J. Hoffman, Chairman, President and CEO, The Toro
Company

Paul David Miller, Retired Chairman and CEO, Alliant Techsystems,
Inc.

Jeffrey Noddle, Retired Executive Chairman, SuperValu Inc.

Willard D. Oberton, Chairman, Fastenal Company

James J. Owens, President and CEO, H.B. Fuller Company

Ajita G. Rajendra, President and CEO, A.O. Smith Corporation

Trudy Rautio, President and Chief Executive Officer, Carlson

John P. Wiehoff, Chairman and CEO, C.H. Robinson Worldwide,
Inc.

 

 

    	16

    	 

    

Officers:

William M. Cook, Chairman

Tod E. Carpenter, President and Chief Executive Officer

Thomas R. Scalf, Senior Vice President, Engine Products

Jay L. Ward, Senior Vice President, Industrial Products

Amy C. Becker, Vice President, General Counsel and Secretary

Guillermo Briseño, Vice President, Latin America

Franklin G. Cardenas, Vice President, Global Engine Aftermarket

Timothy H. Grafe, Vice President, New Business Development

Dennis D. Jandik, Vice President, Asia Pacific Operations

Joseph E. Lehman, Vice President, Global Operations

Roger J. Miller, Vice President, Global Engine OEM Sales

Mary Lynne Perushek, Vice President and Chief Information
Officer

Sheila C. Peyraud, Vice President and Chief Technology Officer

James F. Shaw, Vice President and Chief Financial Officer

Jeffrey E. Spethmann, Vice President, Global Industrial Air
Filtration

Wim J. V. Vermeersch, Vice President, Europe and Middle East

Eugene X. Wu, Vice President, Asia Pacific

 

 

 

 

 

 

 

 

 

    	17

    	 

    

Financial Statements

The following financial statements
have been provided:

 

Form 10-K (Fiscal 2014)

Form 10-Q (Fiscal 2015 Q1 and Q2)

 

 

 

 

 

 

 

 

 

 

 

 

 

    	18

    	 

    

Litigation

The Company
records provisions with respect to identified claims or lawsuits when it is probable that a liability has been incurred and the
amount of the loss can be reasonably estimated. Claims and lawsuits are reviewed quarterly and provisions are taken or adjusted
to reflect the status of a particular matter. The Company believes the recorded reserves in its condensed consolidated financial
statements are adequate in light of the probable and estimable outcomes. The recorded liabilities were not material to the Company’s
financial position, results of operations, or liquidity, and the Company does not believe that any of the currently identified
claims or litigation will materially affect its financial position, results of operations, or liquidity.

 

 

 

 

 

 

 

    	19

    	 

    

Licenses, Permits, Etc.

None.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	20

    	 

    

Existing Indebtedness

 

As of January 31, 2015

Amounts in $ Millions:

 

	Short-term debt:	 	 
	Multi-currency revolving facility	$ 295.0	 
	Uncommitted credit facilities	$   27.2	$ 322.2
	 	 	 
	Current maturities of long-term debt:	 	 
	Aggregated current capital leases and other	$     1.4	 
	Terminated interest rate swap contracts	$     0.4	$ 1.8
	 	 	 
	Long-term debt:	 	 
	5.48% Unsecured senior notes due June 1, 2017	$   50.0	 
	5.48% Unsecured senior notes due September 28, 2017	$   25.0	 
	5.48% Unsecured senior notes due November 30, 2017	$   25.0	 
	3.72% Unsecured senior notes due March 27, 2024	$ 125.0	 
	Variable rate guaranteed senior note due May 19, 2019	$   14.0	 
	Aggregated long-term capital leases and other	$     1.3	 
	Terminated interest rate swap contracts	$     0.6	$ 240.9
	 	 	 
	 	 	$ 564.9

 

 

 

 

 

 

    	21

    	 

    

Existing Liens

 

	Various capitalized leases in the U.S.	$   2,647,535

 

 

 

 

 

 

 

 

 

 

 

 

 

    	22

    	 

    

Existing Investments

 

	Investment in Advanced Filtration Systems Inc.	$ 11,241,000
	Investment in PT Panata Jaya Mandiri	$   5,389,321
	Investment in Rashed al-Rashed & Sons-Donaldson Ltd.	$   3,468,088
	Investment in Applied Membrane Technology Inc.	$      225,094

 

 

 

 

 

 

 

 

 

    	23

    	 

    

[Form of Series 2015-A
Senior Note]

 

 

Donaldson
Company, Inc.

 

2.93%
Senior Note, Series 2015-A

Due
April 16, 2025

 

	No. [_____]	April 16, 2015
	$[_______]	PPN 25763# AF7

For
Value Received, the undersigned, Donaldson Company,
Inc. (herein called the “Company”), a corporation organized
and existing under the laws of the State of Delaware, promises to pay to [ ], or registered assigns, the principal sum of
$[           ] on April 16, 2025 (the “Maturity Date”),
with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate
of 2.93% per annum (subject to increase pursuant to Section 1.2(b) of the below defined Note Purchase Agreement) from the date
hereof, payable semiannually, on April 16 and October 16 in each year, commencing with the April or October next succeeding
the date hereof and on the Maturity Date, until the principal hereof shall have become due and payable, and (b) to the extent
permitted by law (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such
unpaid balance and on any overdue payment of any Make-Whole Amount (as defined in the Note Purchase Agreement referred to below),
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate per annum from time
to time equal to the greater of (i) 4.93% or (ii) 2% over the rate of interest publicly announced by Wells Fargo Bank,
N.A. from time to time in New York, New York as its “base” or “prime” rate.

Payments of
principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America at the principal office of Wells Fargo Bank, N.A. in New York, New York or at such other place as the Company shall
have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below.

This Note is
one of a series of Notes (herein called the “Notes”) issued pursuant to a Note Purchase Agreement, dated as
of March 27, 2014, as supplemented pursuant to that certain First Supplement to the Note Purchase Agreement dated as of April 16,
2015, and as from time to time further amended and supplemented, (the “Note Purchase Agreement”), between the
Company and the respective Purchasers named therein, and is entitled to the benefits thereof. Each holder of this Note will be
deemed, by its acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of the Note
Purchase Agreement and (ii) to have made the representations set forth in Sections 6.1(to the extent such representation is
required for such transfer) and 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this
Note shall have the respective meanings ascribed to such terms in the Note

Exhibit 1(a) to

First Supplement

    	 

    	 

    

Purchase Agreement. The Notes have not been registered under
the Securities Act of 1933, as amended.

This Note is
a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly
endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s
attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is
registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected
by any notice to the contrary.

This Note is
subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase
Agreement but not otherwise.

If an Event
of Default, as defined in the Note Purchase Agreement, occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided
in the Note Purchase Agreement.

This Note shall
be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of New York
excluding choice-of-law principles of the law of such State that would require the application of the laws of a jurisdiction other
than such State.

 

	 	Donaldson Company, Inc.	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	 	 
	 	 	Title:	 	 

 

 

 

 

 

Exhibit 1(a) to

First Supplement

    	 

    	 

    

 

[Form of Series 2015-B
Senior Note]

 

 

Donaldson
Company, Inc.

 

3.18%
Senior Note, Series 2015-B

Due
June 17, 2030

 

 

	No. [_____]	June 25, 2015
	$[_______]	PPN 25763# AG5

For
Value Received, the undersigned, Donaldson Company,
Inc. (herein called the “Company”), a corporation organized
and existing under the laws of the State of Delaware, promises to pay to [ ], or registered assigns, the principal sum of
$[           ] on June 17, 2030 (the “Maturity Date”),
with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate
of 3.18% per annum (subject to increase pursuant to Section 1.2(b) of the below defined Note Purchase Agreement) from the date
hereof, payable semiannually, on June 15 and December 15 in each year, commencing with the June or December next succeeding the
date hereof and on the Maturity Date, until the principal hereof shall have become due and payable, and (b) to the extent
permitted by law (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such
unpaid balance and on any overdue payment of any Make-Whole Amount (as defined in the Note Purchase Agreement referred to below),
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate per annum from time
to time equal to the greater of (i) 5.18% or (ii) 2% over the rate of interest publicly announced by Wells Fargo Bank,
N.A. from time to time in New York, New York as its “base” or “prime” rate.

Payments of
principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America at the principal office of Wells Fargo Bank, N.A. in New York, New York or at such other place as the Company shall
have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below.

This Note is
one of a series of Notes (herein called the “Notes”) issued pursuant to a Note Purchase Agreement, dated as
of March 27, 2014, as supplemented pursuant to that certain First Supplement to the Note Purchase Agreement dated as of April 16,
2015, and as from time to time further amended and supplemented, (the “Note Purchase Agreement”), between the
Company and the respective Purchasers named therein, and is entitled to the benefits thereof. Each holder of this Note will be
deemed, by its acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of the Note
Purchase Agreement and (ii) to have made the representations set forth in Sections 6.1(to the extent such representation is
required for such transfer) and 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this
Note shall have the respective meanings ascribed to such terms in the Note

 

    	 

    	 

    

Purchase Agreement.
The Notes have not been registered under the Securities Act of 1933, as amended.

This Note is
a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly
endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s
attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is
registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected
by any notice to the contrary.

This Note is
subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase
Agreement but not otherwise.

If an Event
of Default, as defined in the Note Purchase Agreement, occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided
in the Note Purchase Agreement.

This Note shall
be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of New York
excluding choice-of-law principles of the law of such State that would require the application of the laws of a jurisdiction other
than such State.

 

	 	Donaldson Company, Inc.	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	 	 
	 	 	Title:	 	 

 

 

 

 

 

Exhibit 1(a) to

First SupplementEX-10.1

 Exhibit 10.1 

EXECUTIVE EMPLOYMENT AGREEMENT 

This Executive Employment Agreement (the “Agreement”) is made and entered into as of March 9, 2015, by and between
Daniel P. Myers (the “Executive”) and Western Alliance Bank, an Arizona corporation (the “Bank”). 

RECITALS 
 WHEREAS, the
Bank is a member bank of the Federal Reserve Bank of San Francisco (“FRB”) chartered by the Arizona Department of Financial Institutions (“AZDFI”); 

WHEREAS, the Bank is a wholly owned subsidiary of Western Alliance Bancorporation (“WAL”), a registered bank holding company
under the federal Bank Holding Company Act of 1956, as amended; 
 WHEREAS, WAL has entered into an Agreement and Plan of Merger with Bridge
Capital Holdings (“BCH”) of even date herewith pursuant to which BCH will merge into WAL, with WAL as the survivor (the “Merger Agreement”); 

WHEREAS, pursuant to and as contemplated by the Merger Agreement, the Bank intends to merge with Bridge Bank, National Association
(“Bridge”), with the Bank as the survivor (the “Bank Merger”); 
 WHEREAS, Executive currently serves as
the President and Chief Executive Officer of Bridge and BCH, pursuant to an Employment Agreement dated May 21, 2014 (the “Prior Agreement”); 

WHEREAS, the Bank desires to employ the Executive on the terms and conditions set forth herein following completion of the transactions
contemplated by the Merger Agreement and the Bank Merger; 
 WHEREAS, the Executive desires at such time to be employed by the Bank on such
terms and conditions; and 
 WHEREAS, it is the intention of the parties to terminate the Prior Agreement and any other existing agreements
relating to Executive’s employment with Bridge and BCH, and to enter into a new employment agreement for the purposes of assuring the continued services of the Executive to the Bank. 

NOW, THEREFORE, in consideration of the mutual covenants, promises and obligations set forth herein, the parties agree as follows: 

1. Term. The Executive’s employment hereunder shall be effective as of the date of the closing of the Bank Merger (the “Effective
Date”). If the Merger Agreement terminates for any reason before the Bank Merger becomes effective, all the provisions of this 

 
Agreement will terminate and there will be no liability of any kind under this Agreement. The term of Executive’s employment under this Agreement shall be a period of three years from the
Effective Date, subject to early termination pursuant to Section 5, and unless earlier terminated, shall terminate on the third anniversary of the Effective Date. For purposes of this Agreement, “Termination Date” shall mean
the date on which Executive’s employment under this Agreement is terminated. 
 Notwithstanding the foregoing, the Bank and Executive
acknowledge and agree that the Executive’s employment is “at will” and nothing contained in this Agreement is intended by the parties or shall be interpreted to amend, modify or otherwise change the “at will” nature of the
employment relationship between the Bank and the Executive including, but not limited to, the right of any party to terminate the employment relationship at any time during such three (3) year term of Executive’s employment under this
Agreement, in accordance with and subject to the termination provisions of Section 5 of this Agreement. 
 In consideration of the
Executive’s base salary and such other benefits provided pursuant to this Agreement, which the Executive and the Bank acknowledge and agree is adequate consideration for the termination of the Prior Agreement, the Bank and the Executive agree
that the Prior Agreement is hereby terminated effective as of the Effective Date and that this Agreement is intended by the parties hereto to supersede in full and constitute a complete replacement for the Prior Agreement and any rights and benefits
thereunder, but does not supersede or replace the rights and benefits under the Supplemental Executive Retirement Plan dated August 1, 2004 between Bridge and the Executive. It is further understood and agreed that any unvested stock option or
other equity award agreement between BCH and the Executive pursuant to the BCH Amended and Restated 2001 Stock Option Plan and/or BCH 2006 Equity Incentive Plan shall be terminated on the Effective Date and will be replaced with comparable
agreements with WAL providing the Executive with substantially the same benefits and rights, as contemplated and described in the Merger Agreement. In furtherance thereof and notwithstanding any other provision of this Agreement or the Prior
Agreement to the contrary, the Executive, for himself, and his heirs, beneficiaries, executors, administrators, trustees, and any other legal or personal representatives, agents, successors or permitted assignees or transferees, further expressly
agrees to and does hereby waive and relinquish any and all claims, rights and benefits under the Prior Agreement and specifically releases the Bank, and its directors, officers, employees, agents, affiliates and successors, from any obligations,
duties and liabilities under the Prior Agreement including the waiver of any claims and matters covered or contemplated by California Civil Code Section 1542 which reads as follows: 

“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of
executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” 

  
 2 

 2. Position and Duties. 

2.1 Position. The Executive shall serve as the President & CEO of the Bridge Bank division of the Bank, reporting to the
Bank’s CEO. In such position, the Executive shall have such duties, authority and responsibility as shall be determined from time to time by the Bank’s CEO, which duties, authority and responsibility are consistent with the
Executive’s position. The Executive shall also serve as the Executive Vice President of Northern California Administration of Western Alliance Bancorporation (“WAL”) and shall be a full member of WAL’s Executive Management
Committee. If requested, Executive shall also serve as an officer or director of any affiliate of the Bank for no additional compensation. 

2.2 Duties. The Executive shall devote substantially all of his business time and attention to the performance of the Executive’s
duties hereunder and will not engage in any other business, profession or occupation for compensation or otherwise which would materially conflict or interfere with the performance of such services either directly or indirectly without the prior
written consent of the Board. Notwithstanding the foregoing, the Executive will be permitted to (a) act or serve as a director, trustee, committee member or principal of any type of business, civic or charitable organization as long as such
activities are disclosed in writing to the Bank’s Chief Administrative Officer in accordance with the Bank’s Conflict of Interest Policy, and (b) purchase or own less than five percent (5%) of the publicly traded securities of
any corporation; provided that, such ownership represents a passive investment and that the Executive is not a controlling person of, or a member of a group that controls, such corporation; provided further that, the activities described in clauses
(a) and (b) do not interfere with the performance of the Executive’s duties and responsibilities to the Bank as provided hereunder, including, but not limited to, the obligations set forth in Section 2 hereof. 

3. Place of Performance. The principal place of Executive’s employment shall be currently located in San Jose, California; provided that, the
Executive may be required to travel on Bank business during the Employment Term. 
 4. Compensation. 

4.1 Base Salary. The Bank shall pay the Executive an annual rate of base salary of $450,000 in periodic installments in accordance with
the Bank’s customary payroll practices, but no less frequently than monthly. On each of January 1, 2017 and January 1, 2018, the Executive’s annual base salary shall be increased by $15,000. Following the termination of this
Agreement, the Executive’s base salary shall be reviewed at least annually by the Western Alliance Bancorporation Compensation Committee (the “Compensation Committee”) and the Compensation Committee may, but shall not be
required to, increase the base salary. The Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as “Base Salary”. 

  
 3 

 4.2 Annual Bonus. 

(a) If the Effective Date occurs in calendar year 2015, the Executive shall be eligible to receive an annual bonus in accordance with the terms
and conditions established by Bridge for such calendar year (the “Bridge Bonus”). With respect to each calendar year after 2015, the Executive shall have the opportunity to earn an annual bonus pursuant to the WAL Annual Bonus Plan
(the “Annual Bonus”) equal to 65% of Base Salary actually paid during such calendar year (the “Target Bonus”), based the Bank’s and WAL’s achievement of target performance goals established by the
Compensation Committee. 
 (b) The Bridge Bonus and the Annual Bonus, if any, will be paid within two and a half (2 1⁄2) months after the end of the applicable calendar year. 

(c) Except as otherwise provided in Section 5, (i) the Annual Bonus will be subject to the terms of the annual bonus plan under
which it is granted, and (ii) in order to be eligible to receive an Annual Bonus, the Executive must be employed by the Bank on the last day of the applicable calendar year. 

4.3 Equity Awards. 
 (a)
In consideration of the Executive entering into this Agreement and as an inducement to join the Bank, on the Effective Date, the Bank will cause the following equity award to be granted to the Executive pursuant to the WAL 2005 Stock Incentive Plan
(as amended): 15,000 shares of restricted stock, which shall vest on the fifth anniversary of the Effective Date (the “2015 Equity Award”). All other terms and conditions of such award shall be governed by the terms and conditions
of the Western Alliance Bancorporation 2005 Stock Incentive Plan and the applicable award agreement; and 
 (b) In each calendar year after
2015 during the term of this Agreement, the Executive shall be eligible to receive annual long-term equity incentive awards as approved by the Compensation Committee, including: (i) a performance-based restricted stock award with a target value
of 40% of Base Salary on the grant date; and (ii) a grant of performance-based stock units with a target value of 40% of Base Salary on the grant date. Each such award shall vest over no more than three years, contingent upon the achievement of
certain performance criteria established by the Compensation Committee. All terms and conditions applicable to each such award shall be determined by the Compensation Committee and shall be no less favorable than those that apply to similarly
situated executive officers of the Bank. 
 4.4 Fringe Benefits and Perquisites. The Executive shall be entitled to fringe benefits
and perquisites consistent with the practices of the Bank, and to the extent the Bank provides similar benefits or perquisites (or both) to similarly situated executives of the Bank. 

  
 4 

 4.5 Employee Benefits. The Executive shall be entitled to participate in all employee
benefit plans, practices and programs maintained by the Bank, as in effect from time to time (collectively, “Employee Benefit Plans”), on a basis that is no less favorable than is provided to other similarly situated executives of
the Bank, to the extent consistent with applicable law and the terms of the applicable Employee Benefit Plans, and shall receive credit for his term of employment with Bridge in calculating his eligibility and benefits under the Employee Benefit
Plans. The Bank reserves the right to amend or cancel any Employee Benefit Plans at any time in its sole discretion, subject to the terms of such Employee Benefit Plan and applicable law. 

4.6 Vacation; Paid Time-off. During the Employment Term, the Executive will be entitled to paid vacation on a basis that is at least as
favorable as that provided to other similarly situated executives of the Bank, and shall receive credit for his term of employment with Bridge in calculating eligibility and benefits. The Executive shall receive other paid time-off in accordance
with the Bank’s policies for similarly situated executive officers as such policies may exist from time to time. Vacation days accrued by the Executive as an employee of Bridge shall continue to be available to Executive on the Effective Date,
and shall be used by the Executive prior to taking other paid time-off in accordance with the Bank’s policies for executive officers. 

4.7 Business Expenses. The Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business,
entertainment and travel expenses incurred by the Executive in connection with the performance of the Executive’s duties hereunder in accordance with the Bank’s expense reimbursement policies and procedures. 

4.8 Indemnification. This Section 4.8 replaces and supersedes the indemnification agreement the Executive entered into with Bridge
dated March 20, 2003, as of the Effective Date. As of the Effective Date, the Bank shall indemnify the Executive in accordance with its bylaws and in the same manner as it would indemnify any similarly situated executive of the Bank for any
action brought by a third party against the Executive (whether or not the Bank is joined as a party defendant) and against expenses, judgments, fines, settlements and other amounts actually and reasonably incurred in connection with said action if
the Executive acted in good faith and in a manner the Executive reasonably believed to be in the best interests of the Bank (and with respect to a criminal proceeding if the Executive had no reasonable cause to believe his conduct was unlawful),
provided that the alleged conduct of the Executive arose out of and was within the course and scope of his employment as an officer or Executive of the Bank. To the extent permitted by the Bank’s Bylaws, Bank agrees to advance all costs,
including attorneys’ fees incurred by Executive; provided that Executive agrees to reimburse such amount if he is ultimately found by order of a court of competent jurisdiction, subject to no further appeal, to not be entitled to
indemnification hereunder. 

  
 5 

 5. Termination of Agreement. 

5.1 Automatic Termination. This Agreement shall terminate automatically without further act of the parties and immediately upon the
occurrence of any one of the following events, subject to either party’s right, without any obligation whatsoever, to waive an event reasonably susceptible of waiver, and the obligation of the Bank to pay the amounts which would otherwise be
payable to the Executive under this Agreement through the end of the month in which the event occurs, except that only in the event of termination based upon subparagraphs (a), (d) or (k), to the extent caused by the Bank’s breach, below
shall the Executive be entitled to receive severance benefits based upon automatic termination pursuant to Section 5.4 of this Agreement: 

(a) The occurrence of circumstances that make it impossible or impractical for the Bank to conduct or continue its business. 

(b) The death of the Executive. 

(c) The loss by the Executive of legal capacity. 

(d) The loss by the Bank of legal capacity to contract. 

(e) The willful, intentional and material breach or the habitual and continued neglect by the Executive of his employment responsibilities and
duties. 
 (f) The continuous mental or physical incapacity of the Executive, subject to disability rights under this Agreement. 

(g) The Executive’s willful and intentional violation of any state or federal banking or securities laws, or of the bylaws, rules,
policies or resolutions of the Bank, or the rules or regulations of the FRB, AZDFI, or other regulatory agency or governmental authority having jurisdiction over the Bank, which has a material adverse effect upon the Bank. 

(h) The written determination by a state or federal regulatory agency or governmental authority having jurisdiction over the Bank that the
Executive is not suitable to act in the capacity for which he is employed by the Bank. 
 (i) The Executive’s conviction of
(i) any felony or (ii) a crime involving moral turpitude, or the Executive’s willful and intentional commission of a fraudulent or dishonest act. 

(j) The Executive’s non-insurability for surety bond coverage as determined in the sole discretion of the Bank’s insurer at any time
during the term of Executive’s employment under this Agreement. 

  
 6 

 (k) A material breach of the terms or provisions of this Agreement, which breach remains uncured
after thirty (30) days from the date written notice of breach including the basis for the good faith determination of breach is given by the non-breaching party to another party. 

5.2 Termination by Bank. The Bank may, at its election and in its sole discretion, terminate the Executive’s employment and this
Agreement at any time and for any reason or for no reason, upon fifteen (15) days prior written notice to the Executive, without prejudice to any other remedy to which the Bank may be entitled either at law, in equity or under this Agreement.
Unless otherwise agreed in writing between the Executive and the Bank, at the time such notice is given, the Executive shall immediately cease performing and discharging the duties and responsibilities of his positions and remove himself and his
personal belongings from the Bank’s premises and the Executive agrees to concurrently resign any directorship with the Bank and its affiliates. All rights and obligations accruing to the Executive under this Agreement shall cease at such
termination, except that such termination shall not prejudice the Executive’s rights regarding employment benefits which shall have accrued prior to such termination, including the right to receive the severance benefits specified in
Section 5.4 below, and any other remedy which the Executive may have at law, in equity or under this Agreement, which remedy accrued prior to such termination. 

5.3 Termination by Executive. This Agreement and Executive’s employment may be terminated by the Executive as follows: 

(a) the Executive may terminate his employment and this Agreement at any time and for any reason or no reason, upon fifteen (15) days
prior written notice to the Bank. Unless otherwise agreed in writing between the Executive and the Bank, at the time such notice is given, the Executive shall immediately cease performing and discharging the duties and responsibilities of his
positions and remove himself and his personal belongings from the Bank’s premises and the Executive agrees to concurrently resign any directorship of the Bank and its affiliates. All rights and obligations accruing to the Executive under this
Agreement shall cease at such termination, except that such termination shall not prejudice the Executive’s rights regarding employment benefits which shall have accrued prior to such termination and any other remedy which the Executive may
have at law, in equity or under this Agreement, which remedy accrued prior to such termination; or 
 (b) the Executive may terminate his
employment and this Agreement at any time upon thirty (30) days prior written notice to the Bank, based on the Executive’s good faith determination of the existence of “good reason” therefore, subject to the right of the Bank to
cure the matter alleged as the basis for the Executive’s determination that “good reason” exists as described herein. In order to be considered a “good reason,” such notice must be given to the Bank within thirty
(30) days of the occurrence of the event causing the “good reason” to exist. For purposes of this Agreement, “good reason” shall mean 

  
 7 

 
that, without the Executive’s written consent, there occurs (i) any material adverse change in the nature and scope of the Executive’s position, authorities, responsibilities,
duties, or a change of thirty (30) miles or more in the Executive’s location of employment, or any material reduction in the Executive’s base salary, bonus or other benefits under this Agreement, or (ii) any event which
reasonably constitutes a demotion, significant diminution or constructive termination (by resignation or otherwise) of the Executive’s employment. The Executive shall specify in any such notice to the Bank the specific basis for his good faith
determination that “good reason” exists and the Bank shall have thirty (30) days within which to cure any matter alleged by the Executive as the basis for such “good reason” determination by the Executive. If, in the
reasonable good faith determination of the Executive, the matters alleged by the Executive as “good reason” are cured within such thirty (30) day period, then the Executive shall not be entitled to terminate his employment and this
Agreement based thereon. Unless otherwise agreed in writing between the Executive and the Bank, upon termination, the Executive shall immediately cease performing and discharging the duties and responsibilities of his positions and remove himself
and his personal belongings from the Bank’s premises and the Executive agrees to concurrently any directorship of the Bank and its affiliates. 

5.4 Severance Benefits. Subject to Sections 5.5 and Section 19 of this Agreement, in the event of automatic termination based upon
Section 5.1 (a),(d) or (k), to the extent caused by the Bank’s breach, or termination by the Bank pursuant to Section 5.2, or termination at the election of the Executive for “good reason” pursuant to Section 5.3(b),
then in each such case, the Executive shall receive severance benefits consisting of: 
 (a) a lump sum payment equal to two (2) times
the sum of the Executive’s Base Salary and Target Bonus for the year in which the Termination Date occurs, which shall be paid within 60 days following the Termination Date; provided that, if the Release Execution Period (as defined below)
begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year; 

(b) acceleration of vesting of the 2015 Equity Award; and 

(c) the Bank shall reimburse the Executive for the difference between the monthly COBRA or Cal-COBRA premium paid by the Executive for himself
and his dependents and the monthly premium amount paid by similarly situated active executives. Such reimbursement shall be paid to the Executive on the 15th of the month immediately following the month in which the Executive timely remits the
premium payment. The Executive shall be eligible to receive such reimbursement until the earliest of: (i) the eighteen-month anniversary of the Termination Date; (ii) the date the Executive is no longer eligible to receive COBRA
continuation coverage; and (iii) the date on which the Executive becomes eligible to receive substantially similar coverage from another employer. The Executive agrees to notify the Bank as soon as practicable, but not less than ten
(10) business days in advance of the commencement of such comparable insurance coverages with another employer and to repay to the Bank any amounts paid by 

  
 8 

 
the Bank to or for the benefit of the Executive that overlap the coverages provided by the other employer. Notwithstanding the foregoing, if the making of payments by the Bank under this Section
would violate the nondiscrimination rules applicable to non-grandfathered plans, or result in the imposition of penalties under the Patient Protection and Affordable Care Act of 2010 and the related regulations and guidance promulgated thereunder
(the “PPACA”), the parties agree to reform this Section in a manner as is necessary to comply with the PPACA. 
 5.5 The
Executive acknowledges and agrees that severance benefits pursuant to Section 5.4 are in lieu of all damages, payments and liabilities on account of the early termination of Executive’s employment under this Agreement and the sole and
exclusive remedy for the Executive for a termination specified in Section 5.4. Severance benefits pursuant to Section 5.4 are subject to the Executive’s compliance with Section 7, Section 8 and Section 9 of this
Agreement and his execution of a release of claims in favor of the Bank, its affiliates and their respective officers and directors in a form acceptable to the Bank, in substantially the form set forth at Exhibit A to this Agreement (the
“Release”) and such Release becoming effective within 60 days following the Termination Date (such 60-day period, the “Release Execution Period”). 

5.6 Change in Control Termination. The Bank will cause the Executive to be named as an employee eligible to participate in the Western
Alliance Bancorporation Change in Control Severance Plan (the “CIC Plan”). In the event of a “Change in Control” as defined in the CIC Plan, the Executive shall not be entitled to severance benefits pursuant to
Section 5.4 of this Agreement and any rights of the Executive to severance benefits shall be limited to those provided in the CIC Plan. 

5.7 Section 280G. If any of the payments or benefits received or to be received by the Executive (including, without limitation,
any payment or benefits received in connection with the Executive’s termination of employment, whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement, or otherwise) (all such payments collectively referred
to herein as the “280G Payments”) constitute “parachute payments” within the meaning of Section 280G of the Code and would, but for this Section, be subject to the excise tax imposed under Section 4999 of the
Code (the “Excise Tax”), then such 280G Payments shall be reduced in a manner determined by the Bank after consulting with Executive (by the minimum possible amounts) that is consistent with the requirements of Section 409A (as
defined below) until no amount payable to the Executive will be subject to the Excise Tax. The determination of the amount of any such taxes, assessments or penalties shall be made by the independent accounting firm employed by the Bank or such
other independent accounting firm or advisor as may be mutually agreeable to the Bank (and their respective successor in interest), and the Executive in the exercise of their respective reasonable good faith judgment. 

  
 9 

 6. Cooperation. The parties agree that certain matters in which the Executive will be involved during his
employment may necessitate the Executive’s cooperation in the future. Accordingly, following the termination of the Executive’s employment for any reason, to the extent reasonably requested by the Board, the Executive shall cooperate with
the Bank in connection with matters arising out of the Executive’s service to the Bank; provided that, the Bank shall make reasonable efforts to minimize disruption of the Executive’s other activities. The Bank shall reimburse the
Executive for reasonable expenses incurred in connection with such cooperation and, to the extent that the Executive is required to spend substantial time on such matters, the Bank shall compensate the Executive at an hourly rate based on the
Executive’s Base Salary on the Termination Date. 
 7. Disclosure of Information. The Executive shall not, either before or after termination of
Executive’s employment under this Agreement, without the prior written consent of the Board of Directors of Bank or except as required by law to comply with legal process including, without limitation, by oral or written testimony, depositions,
interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process, disclose to anyone any financial information, trade or business secrets, customer lists, computer software or other information
concerning the business or operations of the Bank or Western Alliance Bancorporation and their respective affiliates and subsidiaries; provided, that such information shall not include information (i) in or which enters the public domain (other
than by breach of the Executive’s obligations hereunder); (ii) acquired by the Executive other than in connection with his employment; or (iii) that is disclosed to the Executive by a third party who is not known to the Executive to
be under an obligation to keep such information confidential. The Executive further recognizes and acknowledges that any financial information concerning any customers of the Bank or its affiliates and subsidiaries, as it may exist from time to
time, is strictly confidential and is a valuable, special and unique asset of Bank’s business. The Executive shall not, either before or after termination of this Agreement, without such consent or except as required by law, disclose to anyone
other than such customer at such customer’s request said financial information or any part thereof, for any reason or purpose whatsoever. In the event the Executive is required by law to disclose such information described in this
Section 7, the Executive will provide the Bank and its counsel with immediate notice of such request so that they may consider seeking a protective order. If, in the absence of a protective order or the receipt of a waiver hereunder, the
Executive is nonetheless, in the written opinion of knowledgeable counsel, compelled to disclose any of such information to any tribunal or any other party, then the Executive may disclose (on an “as needed” basis only as determined by
Executive’s counsel) such information to such tribunal or other party without liability hereunder. If Executive determines that he should retain counsel to advise him on the applicability of this Section, the Bank agrees to pay reasonable fees
of such counsel for that limited purpose. Notwithstanding the foregoing, the Executive may disclose such information concerning the business or operations of the Bank and their respective affiliates and subsidiaries as may be required by any
regulatory 

  
 10 

 
agency having jurisdiction over the operations of the Bank or its affiliates in connection with an examination of the Bank or its affiliates or other proceeding conducted by such regulatory
agency. The Executive understands and acknowledges that his obligations under this Agreement with regard to any particular Confidential Information shall commence immediately upon the Executive first having access to such Confidential Information
(whether before or after he begins employment by the Bank) and shall continue during and after his employment by the Bank until such time as such Confidential Information has become public knowledge other than as a result of the Executive’s
breach of this Agreement or breach by those acting in concert with the Executive or on the Executive’s behalf. 
 8. Noncompetition, Nonsolicitation
and Nondisclosure by the Executive.  
 8.1 The Executive shall not, during the term of Executive’s employment under this Agreement,
directly or indirectly, either as an employee, employer, consultant, agent, principal, stockholder (except as permitted in Section 2.2 of this Agreement), officer, director, or in any other individual or representative capacity, engage or
participate in any competitive banking or financial services business without the prior written consent of the Bank’s CEO. 
 8.2
Following termination of this Agreement and the Executive’s employment hereunder and for a period of twelve (12) months thereafter, the Executive shall not: (i) solicit, encourage or assist, directly, indirectly or in any manner
whatsoever, any employees of the Bank or its affiliates and subsidiaries (including any former employees who voluntarily terminated such employment within a twelve (12) month period prior to the Executive’s termination of employment with
the Bank) to resign or to apply for or accept employment with any business or holding company thereof that provides asset-based lending services or financing service to the technology or energy industries in the United States or any other
competitive banking or financial services business within the counties in Arizona, California and Nevada in which the Bank operated branch offices as of the Termination Date; or (ii) use any confidential, trade secret, or proprietary
information of the Bank or its affiliates and subsidiaries, including information described in Section 7, to solicit any customer, person or entity that has a business relationship with the Bank or, during the twelve (12) month period
prior to the Termination Date, was engaged in a business relationship with the Bank, to terminate such business relationship and engage in a business relationship with any other competitive banking or financial services business within the counties
in Arizona, California and Nevada in which the Bank operated branch offices as of the Termination Date. 
 8.3 Following termination of this
Agreement and the Executive’s employment hereunder, the Executive will not (a) disclose or use in any manner whatsoever, confidential, trade secret and proprietary information of the Bank or its affiliates and subsidiaries, including
information described in Section 7 except as expressly permitted thereunder; and/or (b) assist (by disclosing information described in Section 7 except as 

  
 11 

 
expressly permitted thereunder) any person or entity, directly, indirectly or in any manner whatsoever, that engages in or seeks to engage in any competitive banking or financial services
business. 
 9. Non-disparagement. The Executive agrees and covenants that he will not at any time make, publish or communicate to any person or
entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Bank or its affiliates, divisions, employees, or officers. The Bank agrees that the members of its Executive Management Committee and Board of
Directors will not at any time make, publish or communicate to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Executive. 

This Section 9 does not, in any way, restrict or impede the Executive, the Bank’s Executive Management Committee members or
Directors from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency,
provided that such compliance does not exceed that required by the law, regulation or order. The Executive shall promptly provide written notice of any such order to the Bank’s CEO. 

10. Acknowledgement. The Executive acknowledges and agrees that the services to be rendered by him to the Bank are of a special and unique character;
that the Executive will obtain knowledge and skill relevant to the Bank’s industry, methods of doing business and marketing strategies by virtue of the Executive’s employment; and that the restrictive covenants and other terms and
conditions of this Agreement are reasonable and reasonably necessary to protect the legitimate business interest of the Bank. 
 The
Executive further acknowledges that the amount of his compensation reflects, in part, his obligations and the Bank’s rights under Section 7, Section 8 and Section 9 of this Agreement; that he has no expectation of any additional
compensation, royalties or other payment of any kind not otherwise referenced herein in connection herewith; that he will not be subject to undue hardship by reason of his full compliance with the terms and conditions of Section 7,
Section 8 and Section 9 of this Agreement or the Bank’s enforcement thereof. 
 11. Remedies. In the event of a breach or threatened
breach by the Executive of Section 7, Section 8 or Section 9 of this Agreement, the Executive hereby consents and agrees that the Bank shall be entitled to seek, in addition to other available remedies, a temporary or permanent
injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the
necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief. 

  
 12 

 12. Governing Law: Jurisdiction and Venue. This Agreement, for all purposes, shall be construed in
accordance with the laws of Arizona without regard to conflicts of law principles. Any action or proceeding by either of the parties to enforce this Agreement shall be brought only in a state or federal court located in the state of Arizona, County
of Maricopa. The parties hereby irrevocably submit to the exclusive jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue. 

13. Stock Ownership Requirements. Beginning on the Effective Date and during the term of this Agreement, the Executive shall be expected to maintain
ownership of Bank common stock in accordance with guidelines established by Western Alliance Bancorporation from time to time. The Executive will be required to meet this ownership requirement as of the Effective Date, without a phase-in period.

 14. Entire Agreement. Unless specifically provided herein, this Agreement contains all of the understandings and representations between the
Executive and the Bank pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such subject matter. The parties mutually
agree that the Agreement can be specifically enforced in court and can be cited as evidence in legal proceedings alleging breach of the Agreement. 
 15.
Modification and Waiver. No provision of this Agreement may be amended or modified unless such amendment or modification is agreed to in writing and signed by the Executive and by the CEO of the Bank. No waiver by either of the parties of any
breach by the other party hereto of any condition or provision of this Agreement to be performed by the other party hereto shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor
shall the failure of or delay by either of the parties in exercising any right, power or privilege hereunder operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power or privilege.

 16. Severability. Should any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if
any portion of this Agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder of this Agreement, the balance of which shall continue to be binding upon the parties with any such
modification to become a part hereof and treated as though originally set forth in this Agreement. 
 The parties further agree that any
such court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or all
of the offending provision, adding additional language to this Agreement or by making such other modifications as it deems warranted to carry out 

  
 13 

 
the intent and agreement of the parties as embodied herein to the maximum extent permitted by law. 

The parties expressly agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of them. In any
event, should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such provision or
provisions are not modified as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set forth herein. 

17. Captions. Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this
Agreement is to be construed by reference to the caption or heading of any section or paragraph. 
 18. Counterparts. This Agreement may be executed
in separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 
 19.
Section 409A Limitation. 
 19.1 General. It is the intention of the Bank and the Executive that this Agreement shall be
interpreted and administered consistent with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) and that the severance benefits payable to the Executive under this Agreement either be exempt from, or
otherwise comply with, Section 409A. Notwithstanding any other term, provision, or other matter set forth elsewhere in this Agreement, to the extent that any provision of this Agreement may be determined by the Bank, with the advice of its
independent accounting firm or other tax advisors, to be subject to and not in compliance with Section 409A, such provisions shall be interpreted in the manner required to comply with Section 409A. 

The Bank and the Executive further acknowledge and agree that if, in the judgment of the Bank, with the advice of its independent accounting
firm or other tax advisors, amendment of this Agreement is necessary to clarify any of the terms of this Agreement, or to comply with Section 409A, the Bank and the Executive will negotiate reasonably and in good faith to amend the terms of
this Agreement to the extent necessary so that it complies (with the most limited possible economic effect on the Bank and the Executive) with Section 409A. 

19.2 Payments to Specified Employees. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a
“Specified Employee” (as defined below), any distributions hereunder which would otherwise be made to the Executive pursuant to the terms of this Agreement shall not be made during the first six (6) months following termination of
employment that constitutes a separation from service pursuant to Section 409A unless the Executive dies prior to the end of such six (6)

  
 14 

 
month period. Any distribution which would otherwise be paid to the Executive during such six (6) month period shall be accumulated and paid to the Executive in a lump sum on the first day
of the seventh (7th) month following such a separation from service. All subsequent distributions shall be paid in the manner otherwise specified in this Agreement. 

The term “Specified Employee” shall mean an employee who at the time of separation from service is a “Key Employee” of WAL
or the Bank or a successor entity of either, if any stock of WAL, the Bank or a successor entity of either is publicly traded on an established securities market or otherwise. For purposes of this Agreement, an employee is a Key Employee if the
employee meets the requirements of section 416(i)(1)(A)(i), (ii), or (iii) of the Internal Revenue Code of 1986, as amended (applied in accordance with the regulations thereunder and disregarding section 416(i)(5) thereof) at any time during
the twelve (12) month period ending on December 31 (the “Identification Period”). If the employee is a Key Employee during an Identification Period, the employee is treated as a Key Employee for purposes of this Agreement during
the twelve (12) month period that begins on the first day of April following the close of the Identification Period. 
 20. Successors and
Assigns. This Agreement is personal to the Executive and shall not be assigned by the Executive. Any purported assignment by the Executive shall be null and void from the initial date of the purported assignment. The Bank may assign this
Agreement to any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Bank. This Agreement shall inure to the benefit of the Bank and permitted
successors and assigns. 
 21. Notice. Notices and all other communications provided for in this Agreement shall be in writing and shall be delivered
personally or sent by registered or certified mail, return receipt requested, or by overnight carrier to the parties at the addresses set forth below (or such other addresses as specified by the parties by like notice): 

If to the Bank: 
 Western
Alliance Bank 
 One E. Washington St, Suite 1400 

Phoenix, AZ 85004 
 Attn: Robert
Sarver, CEO 
 If to the Executive: 

Daniel Myers 
 6899 Hampton Drive

 San Jose, CA 95120 

  
 15 

 22. Withholding. The Bank shall have the right to withhold from any amount payable hereunder any Federal,
state and local taxes in order for the Bank to satisfy any withholding tax obligation it may have under any applicable law or regulation. 
 23.
Survival. Upon the expiration or other termination of this Agreement, the respective rights and obligations of the parties hereto shall survive such expiration or other termination to the extent necessary to carry out the intentions of the
parties under this Agreement. 
 24. Acknowledgment of Full Understanding. The Executive acknowledges and agrees that he has read and understands the
terms and provisions of this Agreement and prior to signing this Agreement, he has had the advice of counsel and/or such other advisors as he deemed appropriate in connection with his review and analysis of such terms and provisions of this
Agreement. 
 25. Attorneys’ Fees and Costs. In the event of litigation, arbitration or any other action or proceeding between the parties to
interpret or enforce this Agreement or any part thereof or otherwise arising out of or relating to this Agreement, the prevailing party shall be entitled to recover its costs related to any such action or proceeding and its reasonable fees of
attorneys, accountants and expert witnesses incurred by such party in connection with any such action or proceeding. The prevailing party shall be deemed to be the party which obtains substantially the relief sought by final resolution, compromise
or settlement, or as may otherwise be determined by order of a court of competent jurisdiction in the event of litigation, an award or decision of one or more arbitrators in the event of arbitration, or a decision of a comparable official in the
event of any other action or proceeding. Every obligation to indemnify under this Agreement includes the obligation to pay reasonable fees of attorneys, accountants and expert witnesses incurred by the indemnified party in connection with matters
subject to indemnification 
 [SIGNATURE PAGE FOLLOWS] 

  
 16 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 

 

									
	EXECUTIVE				WESTERN ALLIANCE BANK
					
	By		 /s/ Daniel P. Myers
				By		 /s/ Robert Sarver

	Printed Name:		Daniel P. Myers				Name:		Robert Sarver
							Title:		Chief Executive Officer

  

			
	  Acknowledged by Western Alliance Bancorporation
		
	  Signature:		 /s/ Robert Sarver

	  Name:		Robert Sarver
	  Title:		Chief Executive Officer

  
 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00243-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00243-of-00352.parquet"}]]