Exhibit 10(l) SEPARATION AGREEMENT AND RELEASE OF CLAIMS This Separation Agreement and Release of Claims (the "Agreement") is entered into as of December 5, 2003 (the "Execution Date") between John Ballbach, a resident of Minnesota ("Executive"), and...Separation Agreement • January 23rd, 2004 • Valspar Corp • Paints, varnishes, lacquers, enamels & allied prods • Minnesota
