Executive Profile

Jerry A. Grundhofer Independent Director, Chairman of Compensation Committee and Vice Chairman of Finance Committee, Ecolab Inc.

Age	Total Calculated Compensation	This person is connected to 5 Board Members in 5 different organizations across 10 different industries. See Board Relationships
67	$213,868

Background

Mr. Jerry A. Grundhofer served as the Chairman, Chief Executive Officer and President of U.S. Bank National Association (Cincinnati, OH), a subsidiary of U.S. Bancorp. since February 2001. Mr. Grundhofer served as the Chief Executive Officer of U.S. BanCorp. from February 2001 to December 2006 and its President from February 2001 to October 19, 2004. He has an extensive career in the Commercial Banking Industry. He served as Chairman of the Board, President and Chief ... Executive Officer of Firstar Corporation from November 1998 to February 2001 and Star Banc Corporation from 1993 to November 1998. He served as President and Chief Executive Officer of Security Pacific National Bank. Mr. Grundhofer has been the Chairman of Santander Holdings USA, Inc. since July 1, 2011 and of Sovereign Bank (alternate name, Sovereign Bank (Wyomissing, PA)) since June 30, 2011. He served as the Non Executive Chairman of Citibank, National Association (Citibank N.A) from July 2009 to June 2011. Mr. Grundhofer served as the Chairman Emeritus of U.S. Bancorp. and as its Chairman from December 30, 2002 to December 2007. He served as the Chairman of The Clearing House LLC. He served as the Chairman and Director of Citibank N.A. Kenya since July 2009. He served as Vice Chairman of BankAmerica Corporation. He has been a Director of Sovereign Bank, National Association since June 30, 2011. Mr. Grundhofer has been an Independent Director at Ecolab Inc. since 1999. He served as a Director of Citibank, National Association (Las Vegas, NV) from July 2009 to June 2011 and The Midland Company since 1998. He served as a Director of The Ohio National Life Insurance Company. He served as a Director of The Clearing House LLC. He served as a Director of Lehman Brothers Holdings Inc. from April 2008 to March 13, 2009. He served as Director of Ohio National Financial Services Inc. He served as Director of Citigroup, Inc. from 2009 to June 23, 2011. He served as Director of Bank of America, NT&SA and BankAmerica Corporation. He served as a Director of U S Bank National Association. He served as a Director of U.S. Bancorp. since 1993. Mr. Grundhofer received a B.S. in Finance from Loyola Marymount University.

Corporate Headquarters 75 State Street Boston, Massachusetts 02109 United States Phone: 212-297-1385 Fax: -- Board Members Memberships Non-Executive Chairman, Member of Management Executive Committee and Non-Executive Chairman of Sovereign Bank Santander Holdings USA, Inc. Former Chairman and Chief Executive Officer U.S. Bancorp, Prior to being Acquired by Firstar Bancorp. Former Director Ohio National Financial Services, Inc. Director The Ohio National Life Insurance Company Chairman The Clearing House LLC 1993-N/A Former Chairman Emeritus U.S. Bancorp 1998-Present Director and Chairman of Opportunity Committee The Midland Company 1999-Present Independent Director, Chairman of Compensation Committee and Vice Chairman of Finance Committee Ecolab Inc. 2008-2009 Former Director Lehman Brothers Holdings, Inc. 2009-2011 Former Non Executive Chairman, Chairman of Risk Management & Finance Committee and Director of Citibank Citigroup, Inc. 2009-2011 Former Non Executive Chairman Citibank, National Association 2009-Present Chairman Citibank N.A. Kenya 2011-Present Chairman Sovereign Bank, National Association Education BS Loyola Marymount University Other Affiliations The Midland Company Santander Holdings USA, Inc. U.S. Bancorp Citigroup, Inc. Lehman Brothers Holdings, Inc. U.S. Bancorp, Prior to being Acquired by Firstar Bancorp. Sovereign Bank, National Association Citibank, National Association Ohio National Financial Services, Inc. Citibank N.A. Kenya The Ohio National Life Insurance Company Loyola Marymount University The Clearing House LLC

Annual Compensation There is no Annual Compensation data available. Stocks Options There is no Stock Options data available. Total Compensation Total Annual Cash Compensation $115,000 Total Calculated Compensation $213,868

COMPETITOR COMPENSATION

Name	Position/ Company	Compensation
Martin S. Craighead	Chairman, Chief Executive Officer, President and Chairman of Executive Committee Baker Hughes Incorporated	$995.0K
Donald R. Knauss	Chairman, Chief Executive Officer and Chairman of Executive Committee The Clorox Company	$1.2M
James P. Rogers	Chairman and Chief Executive Officer Eastman Chemical Co.	$1.1M
Bernard J. Duroc-Danner Ph.D.	Chairman, Chief Executive Officer and President Weatherford International Ltd.	$1.9M
Hiroyuki Sasa	President and Representative Director Olympus Corporation	--
Compensation as of Fiscal Year 2012.