Document:

Conformed copy of the Employee Stock Purchase Plan

 Exhibit 10.30 
 ARTHUR J. GALLAGHER & CO. 
 EMPLOYEE STOCK PURCHASE PLAN

 – CONFORMED THROUGH AMENDMENT NO. 3 – 

1. Purpose. The purpose of the Arthur J. Gallagher & Co. Employee Stock Purchase Plan (the “Plan”) is to
provide employees of Arthur J. Gallagher & Co., a Delaware corporation (the “Company”), and its Subsidiary Companies (as defined below) the opportunity to participate in the ownership of the Company and to encourage
increased efforts to promote the best interests of such companies by permitting eligible employees to purchase shares of common stock, one dollar ($1.00) par value, of the Company (“Common Stock”) at below-market prices. The Plan is
intended to qualify as an “employee stock purchase plan” under section 423 of the Internal Revenue Code of 1986, as amended (the “Code”). For purposes of the Plan, the term “Subsidiary Companies” shall
mean all corporations which are subsidiary corporations (within the meaning of section 424(f) of the Code) and of which the Company is the common parent. The Company and its Subsidiary Companies that, from time to time, are designated by the Company
to participate in the Plan are sometimes hereinafter called collectively the “Participating Companies.” 

2. Eligibility. Participation in the Plan shall be open to each employee of a Participating Company who has satisfied each of the
following conditions (an “Eligible Employee”): 
 (a) such employee has been continuously
employed by the Participating Companies for at least three months; 
 (b) such employee’s customary
employment is for more than 20 hours per week; and 
 (c) such employee’s customary employment is for more
than five months per calendar year. 
 No right to purchase Common Stock hereunder shall accrue under the Plan in favor of any
person who is not an Eligible Employee as of the first day of a Purchase Period (as defined in Section 3). 
 No Eligible
Employee shall acquire a right to purchase Common Stock hereunder if (i) immediately after receiving such right, such employee would own 5% or more of the total combined voting power or value of all classes of stock of the Company or any
Subsidiary Company (including any stock attributable to such employee under section 424(d) of the Code), (ii) for any calendar year such right would permit such employee to purchase Common Stock under any employee stock purchase plan of the
Company or its Subsidiary Companies which is qualified under section 423 of the Code, and which, when aggregated, would have a Fair Market Value (as determined on the first day of the Purchase Period (as hereinafter defined) in which such right is
granted) in excess of $25,000 or such other amount as may be specified under section 423 of the Code, or (iii) for any calendar year such right would permit such employee to purchase more than 2,000 shares of Common Stock hereunder. 

 The maximum number of shares that may be purchased by any Eligible Employee during any
Purchase Period shall not exceed the whole number of shares of Common Stock determined by dividing $25,000 by the Fair Market Value (determined in accordance with Section 5) of a share of Common Stock on the first day of the Purchase Period.

 3. Effective Date of Plan; Purchase Periods. The Plan shall become effective on July 1, 2003 (the
“Effective Date”). The Plan shall cease to be effective unless, within 12 months before or after the date of its adoption by the Board of Directors of the Company (the “Board”), it has been approved by the
shareholders of the Company. Eligible Employees shall be permitted to purchase shares of Common Stock at the end of the three-month Purchase Periods offered during the term of the Plan. The first “Purchase Period” under the Plan shall be
the period beginning on the Effective Date and ending on the last day of the calendar quarter in which the Effective Date occurs and shall be followed thereafter by successive three-month Purchase Periods which shall begin on the first day of the
following calendar quarter and end on the last day of such calendar quarter. 
 4. Basis of Participation. Subject to
compliance with applicable rules prescribed by the Committee (as defined in Section 11), each Eligible Employee shall be entitled to enroll in the Plan as of the first day of any Purchase Period which begins on or after such employee has become
an Eligible Employee. 
 To enroll in the Plan, an Eligible Employee shall make a request to the Company or its designated agent
at the time and in the manner specified by the Committee, specifying the amount of payroll deduction to be applied to the Compensation, as defined below, that is paid to the employee by his or her employer while the employee is a participant in the
Plan. The amount of each payroll deduction specified in such request for each such payroll period shall be a whole percentage of a participant’s Compensation, unless otherwise determined by the Committee to be a whole dollar amount, in either
case not to exceed 15%, or such lesser percentage as may be determined by the Committee, of the Compensation paid to the Participant during the Purchase Period by any of the Participating Companies. Subject to compliance with applicable rules
prescribed by the Committee, the request shall become effective on the first day of the Purchase Period following the election period during which the Company or its designated agent receives such request. For purposes of the Plan, a
participant’s “Compensation” shall have the same meaning as set forth in the Company’s 401(k) retirement plan, as in effect from time to time, but shall exclude any compensation payable in the form of Company stock, including
without limitation any compensation received by the participant upon the issuance or vesting of restricted stock, restricted stock unit or bonus stock awards or upon the exercise of stock options. 

Payroll deductions shall be made for each participant in accordance with such participant’s request until such participant’s
participation in the Plan terminates, such participant’s payroll deductions are suspended, such participant’s request is revised or the Plan terminates, all as hereinafter provided. 

  
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 Following his or her enrollment in the Plan, a participant may change the amount of his or
her payroll deduction effective as of the first day of any Purchase Period by so directing the Company or its designated agent at the time and in the manner specified by the Committee. A participant may not change the amount of his or her payroll
deduction effective as of any date other than the first day of a Purchase Period, except that a participant may elect to suspend his or her payroll deductions under the Plan as provided in Section 7. 

Payroll deductions for each participant shall be credited to a purchase account established on behalf of the participant on the books of
the participant’s employer or such employer’s designated agent (a “Purchase Account”). At the end of each Purchase Period, the amount in each participant’s Purchase Account will be applied to the purchase of the
number of whole and fractional shares of Common Stock determined by dividing such amount by the Purchase Price (as defined in Section 5) for such Purchase Period. No interest shall accrue at any time for any amount credited to a Purchase
Account of a participant. 
 The Committee may, in its discretion, establish additional procedures whereby Eligible Employees
may participate in the Plan by means other than payroll deduction. Such other methods of participating shall be subject to such rules and conditions as the Committee may establish. The Committee may at any time amend, suspend or terminate any
participation procedures established pursuant to this paragraph without prior notice to any participant or Eligible Employee. 

5. Purchase Price. The purchase price (the “Purchase Price”) per share of Common Stock hereunder for any Purchase
Period shall be the lesser of (i) 95% of the Fair Market Value of a share of Common Stock on the first day of such Purchase Period and (ii) 95% of the Fair Market Value of a share of Common Stock on the last day of such Purchase Period. If
such sum results in a fraction of one cent, the Purchase Price shall be increased to the next higher full cent. For purposes of the Plan, the “Fair Market Value” of a share of Common Stock on a given day shall be the closing
transaction price of a share of Common Stock as reported on the New York Stock Exchange on the date as of which such value is being determined or, if there shall be no reported transactions on such date, on the next preceding date for which a
transaction was reported. In no event, however, shall the Purchase Price be less than the par value of a share of Common Stock. 

6. Purchase Accounts and Certificates. The Common Stock purchased by each participant shall be posted to such participant’s
Purchase Account as soon as practicable after, and credited to such participant’s Purchase Account as of, the last day of each Purchase Period. Except as provided in Section 7 and Section 8, a participant will be issued his or her
shares when his or her participation in the Plan is terminated pursuant to Section 7(b), the Plan is terminated or upon request, but, in the last case, only in whole shares. 

  
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 After the close of each Purchase Period, information will be made available to each
participant regarding the entries made to such participant’s Purchase Account, the number of shares of Common Stock purchased and the applicable Purchase Price. In the event that the maximum number of shares of Common Stock are purchased by the
participant for the Purchase Period and cash remains credited to the participant’s Purchase Account, such cash shall be delivered as soon as practicable to such participant. For purposes of the preceding sentence, the maximum number of shares
of Common Stock that may be purchased by a participant for a Purchase Period shall be determined under Section 2. 
 The
Committee may permit or require that shares be deposited directly with a broker designated by the Committee or to a designated agent of the Company, and the Committee may use electronic or automated methods of share transfer. The Committee may
require that shares be retained with such broker or agent for a designated period of time and/or may establish other procedures to permit tracking of disqualifying dispositions of such shares. 

7. Suspension and Termination of Participation. (a) Suspension of Payroll Deductions. A participant may elect at the
time and in the manner specified by the Committee to suspend his or her participation in the Plan, provided such election is received by the Company or its designated agent prior to the date specified by the Committee for suspension of participation
with respect to the Purchase Period for which such suspension is to be effective. Upon any suspension of participation, the participant’s payroll deductions shall cease, and if the participant elects, the cash credited to such
participant’s Purchase Account on the date of such suspension shall be delivered as soon as practicable to such participant. If the participant does not elect to receive such cash, such cash shall be applied to the purchase of shares of Common
Stock, as described in Sections 4, 5 and 6 hereof. A participant who elects to suspend participation in the Plan shall be permitted to resume participation in the next following Purchase Period by making a new request to participate at the time and
in the manner described in Section 4 hereof. 
 (b) Termination of Participation. If the participant dies,
terminates employment with the Participating Companies for any reason, including a termination due to disability or retirement, or otherwise ceases to be an Eligible Employee, such participant’s participation in the Plan shall immediately
terminate. Upon such terminating event, the cash credited to such participant’s Purchase Account on the date of such termination shall be delivered as soon as practicable to such participant or his or her legal representative, as the case may
be, and certificates for the number of full shares of Common Stock held for his or her benefit, and the cash equivalent for any fractional share so held, shall be delivered to the participant or his or her legal representative, as the case may be,
as soon as practicable after such termination. 
 (c) Suspension Upon 401(k) Hardship Withdrawal. If a participant makes
a hardship withdrawal from any retirement plan with a cash or deferred arrangement qualified under section 401(k) of the Code, which plan is sponsored, or participated in, by the participant’s employer, such participant’s payroll
deductions under the Plan shall be automatically suspended for a period of six months from the date of such withdrawal. The balance of such participant’s Purchase Account shall be applied to purchase shares of Common Stock on the next purchase
date, except to the extent the participant elects to receive the cash credited to his or her Purchase Account in accordance with Section 7(a). After the expiration of such six-month period, the participant may resume his or her payroll
deductions in accordance with Section 4. 

  
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 (d) Leaves of Absence. A participant who ceases active service with the Participating
Companies by reason of an approved leave of absence, including a leave of absence due to a short-term disability, shall continue participating in the Plan until the earlier of (i) the date such participant elects to suspend his or her
participation in accordance with Section 7(a) or (ii) the first day of the next Purchase Period, if the participant has not resumed active service with a Participating Company on or before such day. 

8. Termination or Amendment of the Plan. The Company, by action of the Board, may terminate the Plan at any time, in which case
notice of such termination shall be given to all participants, but any failure to give such notice shall not impair the effectiveness of the termination. 
 Without any action being required, the Plan shall terminate in any event when the maximum number of shares of Common Stock to be sold under the Plan (as provided in Section 12) has been purchased. If
at any time the number of shares of Common Stock remaining available for purchase under the Plan are not sufficient to satisfy all then-outstanding purchase rights, the Board or Committee may determine an equitable basis of apportioning available
shares of Common Stock among all participants. 
 Upon termination of the Plan, one or more certificates for the number of full
shares of Common Stock held for each participant’s benefit and the cash equivalent of any fractional share so held shall be delivered to such participant as soon as practicable after the Plan terminates, and, except as otherwise provided in
Section 14, the cash, if any, credited to such participant’s Purchase Account, shall also be distributed to such participant as soon as practicable after the Plan terminates. 

The Board, or a committee designated by the Board (which may include the Committee), may amend the Plan from time to time in any respect
for any reason; provided, however, that no such amendment shall increase the maximum number of shares of Common Stock which may be purchased under the Plan unless such increase is approved by the shareholders of the Company in accordance with
section 423 of the Code. 
 9. Non-Transferability. Rights acquired under the Plan are not transferable and may be
exercised only by a participant. 
 10. Shareholder’s Rights. No Eligible Employee or participant shall by reason of
the Plan have any rights of a shareholder of the Company until he or she shall acquire a share of Common Stock as herein provided. 

  
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 11. Administration of the Plan. The Plan shall be administered by a committee (the
“Committee”) designated by the Board. The Committee shall have full power and authority to: (i) interpret and administer the Plan and any instrument or agreement entered into under the Plan; (ii) establish such rules and
regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (iii) make any other determination and take any other action that the Committee deems necessary or desirable for administration of
the Plan. Decisions of the Committee shall be final, conclusive and binding upon all persons, including the Company, any participant and any other employee of the Company. 
 The Plan shall be administered so as to ensure that all participants have the same rights and privileges as are provided by section 423(b)(5) of the Code. 

12. Maximum Number of Shares. The maximum number of shares of Common Stock which may be purchased under the Plan is 4,000,000,
subject to adjustment as hereinafter set forth. Shares of Common Stock sold hereunder may be treasury shares, authorized and unissued shares, shares purchased in the open market (on an exchange or in negotiated transactions) or any combination
thereof. 
 13. Changes in the Company’s Capital Structure. In the event of any stock split, stock dividend,
recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of shares of Common Stock other than a regular cash
dividend, the maximum number and class of securities which may be purchased under this Plan, the maximum number and class of securities that may be purchased by any participant during any Purchase Period, and the purchase price per security shall be
appropriately adjusted by the Board. The decision of the Board regarding any such adjustment shall be final, binding and conclusive. If any such adjustment would result in a fractional security being available under this Plan, such fractional
security shall be disregarded. 
 14. Merger or Other Corporate Change. In the event of a merger or other transaction
involving the Company in which shares of Common Stock are exchanged for stock, securities, cash or other property, each option under the Plan shall be assumed or an equivalent option shall be substituted by the successor corporation in such
transaction, or a parent or subsidiary of such successor corporation. The Board may elect, however, in the exercise of its sole discretion and in lieu of such assumption or substitution, to shorten the Purchase Period then in effect by establishing
a new purchase date or to cancel the Purchase Period and refund all amounts credited to each participant’s Purchase Account. If the Board shortens the Purchase Period then in effect, the Company shall make its best efforts to notify each
participant of such change at least 10 business days prior to the new purchase date, and allow participants to elect to receive the cash credited to their Purchase Accounts in accordance with Section 7(a). 

15. Notices. Except as otherwise expressly provided herein, (i) any request, election or notice under the Plan from an
Eligible Employee or participant shall be transmitted or delivered to the Company or its designated agent in the manner specified by the Committee and, subject to any limitations specified in the Plan, shall be effective when so delivered and
(ii) any request, notice or other communication from the Company or its designated agent that is transmitted or delivered to Eligible Employees or participants shall be effective when so transmitted or delivered. 

  
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 16. Compliance with Statutes and Regulations. The Plan, and the Company’s
obligation to sell and deliver shares of Common Stock hereunder, shall be subject to all applicable federal and state laws, rules and regulations, and to such approval by any regulatory or governmental agency as may, in the opinion of counsel for
the Company, be required. 
 17. Governing Law. The Plan and all determinations made hereunder and actions taken pursuant
hereto, to the extent not otherwise governed by the Code or the laws of the United States, shall be governed by the laws of the State of Delaware and construed in accordance therewith without giving effect to principles of conflicts of laws.

  
 7Form of Long-Term Incentive Plan Restricted Stock Unit Award Agreement

 Exhibit 10.42.1 
 FORM NOTICE OF RESTRICTED STOCK UNIT GRANT 
  

			
	Participant	  	[    ]
		
	Notice	  	You have been granted the following Restricted Stock Units in accordance with the terms of the Arthur J. Gallagher [    ] Long-Term Incentive Plan (the
“Plan”) and the Restricted Stock Unit Award Agreement (the “Agreement”) attached hereto.
		
	Type of Award	  	Restricted Stock Units
		
	Grant Date	  	[    ]
		
	Number of Shares Underlying Restricted Stock Units	  	[    ]
		
	Restriction Period	  	 The Restriction Period applicable to the percentage of the total Number of Shares Underlying Restricted Stock Units listed in the
“Percentage of Restricted Stock Units” column below shall commence on the Grant Date and shall lapse on the corresponding date listed in the “Vesting Date” column below.

 

			
	 Vesting Date
	  	 Percentage of Restricted Stock Units

		
	Fourth anniversary of the Grant Date	  	100

			
		
		  	 However, in the event of your termination of employment, including your death or Disability, the lapsing of the Restriction Period will
be governed by Section 5 of the attached Agreement.

 FORM OF ARTHUR J. GALLAGHER & CO. [    ] LONG-TERM INCENTIVE

 PLAN RESTRICTED STOCK UNIT AWARD AGREEMENT 
 This Restricted Stock Unit Award Agreement (this “Agreement”), dated as of the Grant Date set forth in the Notice of Restricted Stock Unit Grant attached hereto (the “Grant
Notice”) is made between Arthur J. Gallagher & Co., a Delaware corporation (the “Company”), and the Participant set forth in the Grant Notice. The Grant Notice is included in and made part of this Agreement.

 WHEREAS, the Company desires to grant an award of restricted stock units to the Participant under and pursuant to the
Company’s [            ] Long-Term Incentive Plan (the “Plan”); and 
 WHEREAS, the Company desires to evidence the award of restricted stock units to the Participant and to have the Participant acknowledge the terms and conditions of the award of restricted stock
units by this Agreement; and 
 WHEREAS, the Compensation Committee of the Board of Directors of the Company (the
“Committee”) or its delegate, as applicable, has approved this stock option award. 
 NOW, THEREFORE, IT IS AGREED:

 1. Definitions. For purposes of this Agreement, the following terms shall have the meanings set forth below: 

(a) “Benefit Services” means any employee benefit brokerage, consulting, or administration services, in the areas of
group insurance, defined benefit and defined contribution pension plans, individual life, disability and capital accumulation products, and all other employee benefit areas. 
 (b) “Company” shall mean the Company and any corporation 50% or more of the stock of which is beneficially owned directly by the Company or indirectly through another corporation or
corporations in which the Company is the beneficial owner of 50% or more of the stock. 
 (c) “Company Account”
will be construed broadly to include all users of insurance services or benefit services including commercial and individual consumers, risk managers, carriers, agents and other insurance intermediaries; provided, that, if the Participant is
employed by the Company in, or primarily performing work for the Company in LOUISIANA, Company Accounts are further limited to the users of insurance services or benefits services within those parishes and municipalities designated on
Exhibit A attached hereto (which may be amended from time to time by the parties without need to otherwise amend or restate this Agreement). 

  
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 (d) “Confidential Information” will be construed broadly to include
confidential and proprietary data and trade secret information of the Company which is not known either to its competitors or within the industry generally and which has independent economic value to the Company, and is subject to reasonable efforts
that are reasonable under the circumstances to maintain its secrecy, and which may include, but is not limited to: data relating to the Company’s unique marketing and servicing programs, procedures and techniques; investment, wealth management
and retirement plan consulting, variable annuities, and fund investment business and related products and services; underwriting criteria for general programs; business, management and human resources/personnel strategies and practices; the criteria
and formulae used by the Company in pricing its insurance and benefits products and claims management, loss control and information management services; the structure and pricing of special insurance packages negotiated with underwriters; highly
sensitive information about the Company’s agreements and relationships with underwriters; sales data contained in various tools and resources (including, without limitation, Salesforce.com); lists of prospects; the identity, authority and
responsibilities of key contacts at Company accounts and prospects; the composition and organization of Company accounts’ businesses; the peculiar risks inherent in the operations of Company accounts; highly sensitive details concerning the
structure, conditions and extent of existing insurance coverages of Company accounts; policy expiration dates, premium amounts and commission rates relating to Company accounts; risk management service arrangements relating to Company accounts; loss
histories relating to Company accounts; candidate and placement lists relating to Company accounts; the Company’s personnel and payroll data including details of salary, bonus, commission and other compensation arrangements; and other data
showing the particularized insurance or consulting requirements and preferences of Company accounts. 
 (e) “Direct or
indirect solicitation” means, with respect to a Company Account or Prospective Account, the following (which is not intended to be an exhaustive list of direct or indirect solicitation, but is meant to provide examples of certain reasonably
anticipated scenarios): (i) The sending of an announcement by Participant or on Participant’s behalf to any Company Account or Prospective Account, the purpose of which is to communicate that Participant has either formed his own business
enterprise or joined an existing business enterprise that will offer products or services in any way competitive with the Company; initiating a communication or contact by Participant or on Participant’s behalf with any Company Account or
Prospective Account for the purpose of notifying such Company Account or Prospective Account that Participant has either formed his own business enterprise or joined an existing business enterprise that will offer products or services in any way
competitive with the Company; (iii) communication or contact by Participant or on Participant’s behalf with any Company Account or Prospective Account if the communication in any way relates to insurance or benefits services; provided,
however, nothing herein is intended to limit communications or contacts that are unrelated to insurance and/or benefits services; or (iv) the facilitation by Participant, directly or indirectly, of any Company Account’s execution of a
broker of record letter replacing the Company as its broker of record. 
 (f) “Disability” shall have the
meaning given to the term “Long-Term Disability” under the Arthur J. Gallagher & Co. Long-Term Disability Insurance Plan, or such successor long-term disability plan under which the Participant is covered at the time of
determination. 

  
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 (g) “Insurance Services” means any renewal, discontinuance or replacement
of any insurance or reinsurance by, or handling self-insurance programs, insurance claims or other insurance administrative functions. 
 (h) “Prospective Account” means any entity (other than a then-current Company Account but including former Company Accounts) with respect to whom, at any time during the one year period
preceding the termination of Participant’s employment with the Company, Participant: (i) submitted or assisted in the submission of a presentation or proposal of any kind on behalf of the Company, (ii) had material contact or acquired
Confidential Information as a result of or in connection with Participant’s employment with the Company, or (iii) incurred travel and/or entertainment expenses which were reimbursed by the Company to Participant. 

(i) “Shares” shall mean shares of Common Stock of the Company. 
 2. Grant of Restricted Stock Units. Subject to the terms and conditions of the Plan and this Agreement, the Company hereby grants to the Participant, pursuant to the Plan, the Number of Shares
Underlying Restricted Stock Units set forth in the Grant Notice (the “Restricted Stock Units”). Subject to the provisions of this Agreement, the grant of Restricted Stock Units may not be revoked. 

3. Dividend Equivalents. THIS SECTION APPLIES ONLY TO EMPLOYEES WHO ARE NOT RESIDENTS OF CANADA. An account established by the
Company on behalf of the Participant shall be credited with the amount of all dividends that would have been paid on the Restricted Stock Units if such shares were actually held by the Participant (“Dividend Equivalents”). Such
Dividend Equivalents shall be subject to the same Restriction Period applicable to the Restricted Stock Units to which they relate, and as soon as administratively practicable following the lapse of the Restriction Period applicable to a Restricted
Stock Unit, but in no event later than 75 days following such date, the Dividend Equivalents related to such unit shall be paid to the Participant in cash, without earnings thereon. 
 4. Dividends. THIS SECTION APPLIES ONLY TO EMPLOYEES WHO ARE RESIDENTS OF CANADA. As of each date on which the Company pays a regular cash dividend to record owners of shares of
Common Stock (a “Payment Date”), the number of shares of Common Stock subject to this Restricted Stock Units award shall be increased by (i) the product of the total number of shares of Common Stock subject to the award
immediately prior to such Payment Date and not yet issued pursuant to Section 6 multiplied by the dollar amount of the cash dividend paid per share of Common Stock, divided by (ii) the closing price of a share of Common Stock on the New
York Stock Exchange on such Payment Date. Such additional shares of Common Stock shall be subject to all of the terms and conditions of this Restricted Stock Units award, including the vesting conditions set forth herein. 

  
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 5. Restriction Period; Termination. The Restriction Period with respect to the Restricted Stock Units
shall be as set forth in the Grant Notice. In order to earn and vest in the Restricted Stock Units, the Participant must at the time of vesting remain employed as an active, regular, full-time employee of the Company. Subject to the terms of the
Plan, all Restricted Stock Units for which the Restriction Period had not lapsed prior to the date of the Participant’s termination of employment shall be immediately forfeited; provided, however, that upon termination of the
Participant’s employment due to death or Disability, then the Restriction Period shall immediately lapse as to the full number of Restricted Stock Units.  
 6. Payment of Restricted Stock Units. As soon as administratively practicable following each Vesting Date applicable to the Restricted Stock Units, or at such earlier time as provided for in
Section 5, or as the Company may otherwise determine, but in no event later than 75 days following such date, all restrictions applicable to the Restricted Stock Units vesting on that Vesting Date shall lapse and the vested Shares, free of all
restrictions, shall be issued or delivered to the Participant or his or her beneficiary or estate, as the case may be, in accordance with the provisions of the Plan. 
 7. Recapitalization. In the event of a recapitalization, stock split, stock dividend, combination or exchange of shares, merger, consolidation, rights offering, separation, reorganization or
liquidation, or any other change in the corporate structure or shares of the Company, the Committee shall make such equitable adjustments, designed to protect against dilution, as it may deem appropriate in the number and kind of shares covered
hereby. 
 8. Compliance with Laws and Regulations. The Company shall not be obligated to issue any Shares pursuant to this Agreement
unless the Shares are at that time effectively registered or exempt from registration under the Securities Act of 1933, as amended, and, as applicable, local laws. Notwithstanding the foregoing, the Company is under no obligation to register any
Shares to be issued under this Agreement pursuant to federal or state securities laws. 
 9. Administration. By accepting any benefit
under this Agreement, the Participant and any person claiming under or through the Participant shall be conclusively deemed to have indicated his or her acceptance and ratification of, and consent to, all of the terms and conditions of the Plan and
this Agreement and any action taken under the Plan by the Committee or the Company, in any case in accordance with the terms and conditions of the Plan. Unless defined herein, capitalized terms are used herein as defined in the Plan. In the event of
any conflict between the provisions of the Plan and this Agreement, the provisions of the Plan shall control, and this Agreement shall be deemed to be modified accordingly. This Agreement is subject to all the terms, provisions and conditions of the
Plan, which are incorporated herein by reference, and to such rules, policies and regulations as may from time to time be adopted by the Committee. All determinations and interpretations made by the Committee with regard to any question arising
hereunder or under the Plan shall be binding and conclusive on the Participant and on his or her legal representatives and beneficiaries. 

  
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 10. Tax Witholding. Upon the lapse of the applicable portion of the Restriction Period, or such
earlier date on which the value of any Restricted Stock Units otherwise becomes includible in the Participant’s gross income for income tax purposes or on which taxes are otherwise payable, any taxes of any kind required by law to be withheld
with respect to such Restricted Stock Units shall be satisfied by the Company withholding Shares or cash otherwise deliverable or payable to the Participant pursuant to this Agreement; provided, however, that the amount of any Shares
so withheld shall not exceed the amount necessary to satisfy required Federal, state, local and foreign withholding obligations using the minimum statutory withholding rates for Federal, state, local and/or foreign tax purposes, including payroll
taxes, that are applicable to supplemental taxable income, subject to any limitations as the Committee may prescribe and subject to applicable law, based on the Fair Market Value of the Shares on the payment date. The Company may, in the discretion
of the Committee, provide for alternative arrangements to satisfy applicable tax withholding requirements in accordance with Section 6.5 of the Plan. 
 Regardless of any action the Company takes with respect to any or all tax withholding (including social insurance contribution obligations, if any), the Participant acknowledges that the ultimate
liability for all such taxes is and remains the Participant’s responsibility (or that of the Participant’s beneficiary), and that the Company does not: (a) make any representations or undertakings regarding the treatment of any tax
withholding in connection with any aspect of the Restricted Stock Units, including the grant or vesting thereof, the subsequent sale of Shares and the receipt of any dividends; or (b) commit to structure the terms of the Restricted Stock Units
or any aspect of the Restricted Stock Units to reduce or eliminate the Participant’s (or his or her beneficiary’s) liability for such tax. 
 11. Non-Transferability. Until the Restricted Period has lapsed, the Restricted Stock Units may not be transferred, assigned, pledged, or otherwise encumbered or disposed of other than by will or
the laws of descent and distribution; provided, however, that the Committee may, in its discretion, permit the Restricted Stock Units to be transferred subject to such conditions and limitations as the Committee may impose. 

12. No Right to Continued Employment. The Company is not obligated by or as a result of the Plan or this Agreement to continue the
Participant’s employment, and neither the Plan nor this Agreement shall interfere in any way with the right of the Company to terminate the employment of the Participant at any time. 
 13. No Rights as a Stockholder. The Participant shall not have a beneficial ownership interest in, or any of the rights and privileges of a stockholder as to, the Shares underlying the Restricted
Stock Units, including the right to receive dividends and the right to vote such Shares underlying the Restricted Stock Units until such Restricted Stock Units vest and are issued and transferred to the Participant in accordance with the terms of
this Agreement. Notwithstanding the foregoing, the Participant shall not be entitled to delivery of the shares of Common Stock subject to the Restricted Stock Units award, or to the Dividend Equivalents (or in the case of residents of Canada, any
additional shares of Common Stock received in accordance with Section 4) related to such units, until the units have vested. 

  
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 14. Consent to Transfer Personal Data. By accepting this award, the Participant voluntarily
acknowledges and consents to the collection, use, processing and transfer of personal data as described in this Section. The Participant is not obliged to consent to such collection, use, processing and transfer of personal data. However, failure to
provide the consent may affect the Participant’s ability to participate in the Plan. The Company holds certain personal information about the Participant, that may include his or her name, home address and telephone number, date of birth,
social security number or other employee identification number, salary grade, hire data, salary, nationality, job title, any shares of stock held in the Company, or details of all awards of Restricted Stock Units, stock options, or any other
entitlement to shares of stock awarded, canceled, purchased, vested, or unvested, for the purpose of managing and administering the Plan (“Data”). The Company will transfer Data amongst itself as necessary for the purpose of
implementation, administration and management of Participant’s participation in the Plan, and the Company may further transfer Data to any third parties assisting the Company in the implementation, administration and management of the Plan.
These recipients may be located throughout the world, including the United States. The Participant authorizes them to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering
and managing Participant’s participation in the Plan, including any requisite transfer of such Data as may be required for the administration of the Plan to, and/or the subsequent holding of shares of stock on the Participant’s behalf by,
a broker or other third party with whom the Participant may elect to deposit any shares of stock acquired pursuant to the Plan. The Participant may, at any time, review Data, require any necessary amendments to it or withdraw the consents herein in
writing by contacting the Company; provided, however, that withdrawing consent may affect the Participant’s ability to participate in the Plan. 
 15. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or delivered to the Participant at the address on file with the
Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 
 16. Other
Plans. The Participant acknowledges that any income derived from the lapse of the Restriction Period applicable to the Restricted Stock Units shall not affect the Participant’s participation in, or benefits under, any other benefit plan or
other contract or arrangement maintained by the Company. 
 17. Counterpart Execution. This Agreement has been executed in two
counterparts, each of which shall be deemed an original and both of which constitute one and the same document. 
 18. Section 409A.
The Restricted Stock Units are intended to qualify for the short-term deferral exemption to Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated and other official guidance issued thereunder
(“Section 409A”). The Plan and this Agreement shall be administered and interpreted in a manner consistent with this intent. If the Company determines that the Agreement is subject to Section 409A and that it has failed to
comply with the requirements of Section 409A, the Company may, in its sole discretion, and without the Participant’s consent, amend this Agreement to cause it to comply with or be exempt from Section 409A. 

  
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 19. Beneficiary. The Restricted Stock Units shall be distributed to the Participant during the
lifetime of the Participant. The Participant may designate a beneficiary to receive any undistributed Restricted Stock Units under the circumstances described in, and in accordance with, Section 6.12 of the Plan. 

20. Governing Law. This Agreement shall be governed by the laws of the State of Delaware and construed in accordance therewith without giving
effect to principles of conflicts of laws. 
 21. Restrictive Covenant; Clawback. THIS SECTION APPLIES ONLY TO EMPLOYEES WHO ARE
NOT RESIDENTS OF THE UNITED KINGDOM. 
 (a)(i) If, at any time within (A) two years after the termination of
employment; or (B) two years after the vesting of any portion of this award of Restricted Stock Units, whichever is the latest, the Participant, in the determination of the management of the Company, engages in any activity in competition with
any activity of the Company, or inimical, contrary or harmful to the interests of the Company, including, but not limited to: 
 (1) conduct related to his or her employment for which either criminal or civil penalties against him or her may be sought; 

(2) violation of Company policies, including, without limitation, the Company’s Insider Trading Policy; 

(3) directly or indirectly, soliciting, placing, accepting, aiding, counseling or providing consulting for any Insurance
Services for any existing Company Account or any actively solicited Prospective Account of the Company for which he or she performed any of the foregoing functions during the two-year period immediately preceding such termination; or providing
Benefit Services the Company is involved with, for any existing Company Account or any Prospective Account of the Company for which Participant performed any of the foregoing functions during the two-year period immediately preceding such
termination; provided, that this subsection does not apply to any Participant employed by Company in, or primarily performing work for the Company in, California, Georgia or Oklahoma; 

(4) for a Participant employed by the Company in, or primarily performing work for Company in, GEORGIA or
OKLAHOMA: directly or indirectly, soliciting, for the purpose of providing Insurance Services or Benefit Services for any existing Company Account or any Prospective Account of the Company for which Participant performed any of the foregoing
functions during the two-year period immediately preceding such termination; 

  
 8 

 (5) for a Participant employed by the Company in, or primarily
performing work for Company in, CALIFORNIA: revealing, making judgments upon, or otherwise using, disclosing or divulging any Confidential Information or trade secrets of the Company or otherwise violating any provision of this Agreement;

 (6) recruiting, luring, enticing, employing or offering to employ any current or former employee of the
Company or engaging in any conduct designed to sever the employment relationship between the Company and any of its employees; 
 (7) disclosing or misusing any trade secret, Confidential Information or other non-public confidential or proprietary material concerning the Company; or 

(8) participating in a hostile takeover attempt of the Company; 
 then this award of Restricted Stock Units and all other awards of Restricted Stock or Restricted Stock Units held by the Participant shall terminate effective the date on which the Participant enters into
such activity, unless terminated sooner by operation of another term or condition of this Agreement or the Plan, and any gain realized by the Participant from the vesting of all or a portion of this or any award of Restricted Stock or Restricted
Stock Units shall be paid by the Participant to the Company. Such gain shall be calculated based on the closing price per share of the Company’s common stock as quoted on the New York Stock Exchange on the date of vesting (or the next trading
day if such vesting date is a holiday), multiplied by the number of shares vesting on such date, plus interest measured from the first date the Participant engaged in any of the prohibited activities set forth above at the highest rate allowable
under Delaware law. 
 (ii) This award of Restricted Stock Units and all other awards of restricted stock units or restricted stock held by the
Participant shall also be subject to recovery by the Company under its compensation recovery policy, as amended from to time. 
 (iii) The
Participant acknowledges that Participant’s engaging in activities and behavior in violation of Section 21(a)(i) above will result in a loss to the Company which cannot reasonably or adequately be compensated in damages in an action at
law, that a breach of this Agreement will result in irreparable and continuing harm to the Company and that therefore, in addition to and cumulative with any other remedy which the Company may have at law or in equity, the Company shall be entitled
to injunctive relief for a breach of this Agreement by the Participant. The Participant acknowledges and agrees that the requirement in Section 21(a)(i) above that Participant disgorge and pay over to the Company any option gain realized by the
Participant is not a provision for liquidated damages. The Participant agrees to pay any and all costs and expenses, including reasonable attorneys’ fees, incurred by the Company in enforcing any breach of any covenant in this Agreement.

  
 9 

 (b) By accepting this award, the Participant consents to deductions from any amounts the
Company owes the Participant from time to time (including amounts owed as wages or other compensation, fringe benefits or vacation pay, as well as any other amounts owed to the Participant by the Company) to the extent of the amounts the Participant
owes the Company under Section 21(a) above. Whether or not the Company elects to make any set-off in whole or in part, if the Company does not recover by means of set-off the full amount owed, calculated as set forth above, the Participant
agrees to pay immediately the unpaid balance to the Company. 
 22. Forfeiture. THIS SECTION APPLIES ONLY TO EMPLOYEES WHO ARE RESIDENTS
OF THE UNITED KINGDOM. 
 (a) If at any time during the Participant’s employment with the Company (or any company within the
group of companies of which the Company is a member (Group Company)) the Participant, in the determination of the management of the Company, engages in any activity in competition with any activity of the Company or any Group Company, or inimical,
contrary or harmful to the interests of the Company or any Group Company including but not limited to: 
 (i) gross misconduct
(as referred to in the Participant’s terms and conditions of employment) or conduct related to his or her employment for which either criminal or civil penalties may be sought; or 

(ii) serious breach or non-observance of any material policy of the Company or any Group Company relating to the conduct of the
Company’s business including, without limitation, the Company’s Insider Trading Policy; or 
 (iii) disclosing or
misusing any Confidential Information or other non-public confidential or proprietary material concerning the Company or any Group Company; 

then any unvested portion of this Restricted Stock Unit award shall lapse effective the date on which the Participant enters into such activity, unless
terminated sooner by operation of another term or condition of this Agreement or the Plan and/or any shares of common stock held by the Participant as a result of this or any other award of Restricted Stock Units shall be forfeited to the Company
for no payment to the Participant and/or (only with respect to clauses (ii) and (iii) above) any gain realized by the Participant from selling any shares of common stock arising from this or any other award of Restricted Stock Units shall
be paid by the Participant to the Company subject to a maximum repayment of £100,000. Only with respect to clauses (ii) and (iii) above, it is agreed by the Participant and the Company that the gain up to £100,000 realized by
the Participant is a genuine pre estimate of the minimum level of loss likely to be incurred by the Company or any other Group Company as a result of the occurrence of the events referred to in Sections 22A(a)(i) to (iii) above. It is agreed
that such payment by the Participant to the Company shall not limit or restrict the Company or any Group Company from seeking any other remedy (including, without limitation, damages for breach of contract and injunctive relief) as a result of the
occurrence of the events referred to in Sections 22(a)(i) to (iii) above. 

  
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 (b) For the purposes of Section 22(c), the term Termination Date shall mean the
termination of the Participant’s employment with the Company or any Group Company howsoever caused. 
 (c) If at any time
prior to the expiry of 12 months following the Termination Date the Participant: 
 (i) breaches any term of the agreement
relating to restrictive covenants (as set out in the Participant’s terms and conditions of employment); 
 (ii) discloses
or misuses any Confidential Information or other non-public confidential or proprietary material concerning the Company or any Group Company; or 
 (iii) participates in a hostile takeover attempt (whether or not successful) of the Company; 

then any unvested portion of this Restricted Stock Unit award shall lapse effective the date on which the Participant enters into such activity, unless
terminated sooner by operation of another term or condition of this Agreement or the Plan and and/or any shares of common stock held by the Participant as a result of this or any other award of Restricted Stock Units shall be forfeited to the
Company for no payment to the Participant and/or any gain realized by the Participant from selling any shares of common stock arising from this or any other award of Restricted Stock Units shall be paid by the Participant to the Company subject to a
maximum repayment of £100,000. It is agreed by the Participant and the Company that the gain up to £100,000 realized by the Participant is a genuine pre estimate of the minimum level of loss likely to be incurred by the Company or any
other Group Company as a result of the Participant breaching any of the terms of Section 22(c)(i) to 22(c)(iii). It is agreed that such payment by the Participant to the Company shall not limit or restrict the Company or any Group Company from
seeking any other remedy (including, without limitation, damages for breach of contract and injunctive relief) as a result of the Participant breaching any of the terms of Section 22(c)(i) to 22(c)(iii). 

(d) This award of restricted stock units and all other awards of restricted stock units and restricted stock held by the Participant may
also be subject to recovery by the Company under its compensation recovery policy, as amended from to time. 

  
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 (e) By accepting this grant, the Participant consents to deductions from any amounts the
Company or any Group Company owes to the Participant from time to time (including amounts owed as wages or other compensation, fringe benefits or holiday pay, as well as any other amounts owed to the Participant by the Company or any Group Company)
to the extent of the amounts the Participant owes the Company or any Group Company under this Section 22. Whether or not the Company or any Group Company elects to make any set-off in whole or in part, if the Company or any Group Company does
not recover by means of set-off the full amount owed, calculated as set forth above, the Participant agrees to pay immediately the unpaid balance to the Company or any Group Company. 

(f) Each of the restrictions set out in Sections 22(a)(i) to 22(a)(iii) and 22(c)(i) to 22(c)(iii) (inclusive) is separate and severable.
If any of the restrictions is determined by a court of law to be unenforceable but would be enforceable if some part were deleted, the remaining provisions of that section shall apply in their entirety. 

23. Liability to tax. THIS SECTION APPLIES ONLY TO EMPLOYEES WHO ARE RESIDENTS OF THE UNITED KINGDOM. 

The Participant hereby agrees to: 
  

	•	 	 indemnify the Company or any Subsidiary which is obliged to account for income tax and/or primary social security contributions (otherwise known as
employee’s National Insurance contributions) arising in connection with the grant, vesting, payment or forfeiture of Restricted Stock Units or recovery of the proceeds of the sale of Common Stock in accordance with this Agreement in respect of
such amounts; and 

  

	•	 	 be responsible for paying any secondary social security contributions (otherwise known as employer’s National Insurance contributions) arising in
connection with the grant, vesting, payment or forfeiture of Restricted Stock Units or recovery of the proceeds of sale of Common Stock in accordance with this Agreement; 

 (together the “Tax Liability”). 
 If so requested by the Company, the Participant
will enter into an election with his or her employer in respect of the liability for paying any secondary social security contributions (otherwise known as employer’s National Insurance contributions) arising in connection with the grant,
vesting, payment or forfeiture of Restricted Stock Units or recovery of the proceeds of sale of Common Stock in accordance with this Agreement. 

If so requested by the Company, the Participant will, no later than 14 days after payment of a Restricted Stock Unit award (which includes the transfer
or issue of shares of Common Stock to the Participant following the vesting of the award), enter into an election with his or her employer in respect of the acquisition by the Participant of “restricted securities” under section 431 of the
Income Tax (Earnings and Pensions) Act 2003. 

  
 12 

 The Participant will enter into such arrangements with the Company or his or her employer for the recovery
of the Tax Liability as may be approved by the Company, which may include, but will not be limited to: 
  

	•	 	 within seven days of being notified by his or her employer or the Company of the amount of the Tax Liability, making such payment to his or her
employer or the Company; 

  

	•	 	 agreeing that the Tax Liability can be withheld from his or her salary, either from a single payment of salary or in equal instalments from two or more
payments of salary; or 

  

	•	 	 authorising the sale on the market of sufficient of the shares comprised in the Common Stock payment as will, after deduction of any reasonable costs
of sale, generate an amount equal to the Tax Liability and the direction of such amount to the Company or his or her employer by way of re-imbursement. 

 24. Relationship with employment. THIS SECTION APPLIES ONLY TO EMPLOYEES WHO ARE RESIDENTS OF THE UNITED KINGDOM. 
 Notwithstanding any other provision of the Plan: 
  

	•	 	 the Plan and this Agreement shall not form any part of any contract of employment between the Company or any Subsidiary and the Participant, and they
shall not confer on the Participant any legal or equitable rights (other than those constituting the award of the Restricted Stock Unit award themselves) against the Company or any Subsidiary, directly or indirectly, or give rise to any cause of
action in law or in equity against the Company or any Subsidiary; 

  

	•	 	 the benefits to the Participant under the Plan and this Agreement shall not form any part of his or her wages or remuneration or count as pay or
remuneration for pension fund or other purposes; and 

  

	•	 	 in no circumstances shall the Participant on ceasing to hold the office or employment by virtue of which he or she is or may be eligible to participate
in the Plan (whether such cessation is lawful or unlawful) be entitled to any compensation or damages for any loss of any right or benefit or prospective right or benefit under the Plan (which he or she might otherwise have enjoyed) as a result of
such cessation of employment whether such compensation is claimed by way of damages for wrongful dismissal or other breach of contract or by way of compensation for loss of office or otherwise. 

25. Change in Control. Upon the occurrence of a Change in Control, as defined in the Plan, this Agreement and all Restricted Stock Units granted
hereunder shall be governed by Section 6.8 of the Plan. If applicable, payment under this Section 25 shall be made as soon as administratively practicable following the Change in Control, but in no event later than 75 days thereafter.

  
 13 

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

			
	ARTHUR J. GALLAGHER & CO.
		
	By:	 	  

	
	EMPLOYEE
	
	  

  
 14

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