[Senior Vice President

                                                               Split Bonus]





                              EMPLOYMENT AGREEMENT



         EMPLOYMENT AGREEMENT dated September 12, 2005 between PALL CORPORATION,

a New York corporation (the "Company") and Roberto Perez ("Executive").



         In consideration of the mutual agreements hereinafter set forth, the

parties hereto agree as follows:



SS 1. EMPLOYMENT AND TERM



         The Company hereby employs Executive, and Executive hereby agrees to

serve, as an executive employee of the Company with the duties set forth in

ss.2, for a term (hereafter called The "Term of Employment") beginning September

12, 2005 (the "Term Commencement Date") and ending, unless sooner terminated

under ss.4, on the effective date specified in a notice of termination given by

either party to the other except that such effective date shall not be earlier

than the second anniversary of the date on which such notice is given.



SS 2. DUTIES



         (a) Executive agrees that during the Term of Employment he will hold

such offices or positions with the Company, and perform such duties and

assignments relating to the business of the Company, as the Chief Executive

Officer of the Company shall direct except that Executive shall not be required

to hold any office or position or to perform any duties or assignment

inconsistent with his experience and qualifications.



         (b) If the Chief Executive Officer of the Company so directs, Executive

shall serve as an officer of one or more subsidiaries of the Company (provided

that the duties of such office are not inconsistent with Executive's experience

and qualifications) and part or all of the compensation to which Executive is

entitled hereunder may be paid by such subsidiary or subsidiaries. However, such

employment and/or payment of Executive by a subsidiary or subsidiaries shall not

relieve the Company from any of its obligations under this Agreement except to

the extent of payments actually made to Executive by a subsidiary.



         (c) During the Term of Employment Executive shall, except during

customary vacation periods and periods of illness, devote substantially all of

his business time and attention to the performance of his duties hereunder and

to the business and affairs of the Company and its subsidiaries and to promoting

the best interests of the Company and its subsidiaries and he shall not, either

during or outside of such normal business hours, engage in any activity inimical

to such best interests.





{PAGE}



SS 3. COMPENSATION DURING TERM OF EMPLOYMENT



         (a) Base Salary. With respect to the period beginning on the Term

Commencement Date and ending on the 31st day of July next following the Term

Commencement Date, the Company shall pay Executive a Base Salary (in addition to

the compensation provided for elsewhere in this Agreement) at the rate of

$318,000 per annum (hereinafter called the "original Base Salary"). With respect

to each Contract Year beginning with the Contract Year which starts on the first

day of August next following the Term Commencement Date, the Company shall pay

Executive a Base Salary at such rate as the Chief Executive Officer may

determine but not less than the Original base Salary adjusted as follows: The

Term "Contract Year" as used herein means the period from August 1 of each year

through July 31 of the following year. The term "Consumer Price Index" as herein

used means the "Consumer Price Index for all Urban Consumers" compiled and

published by the Bureau of Labor Statistics of the United States Department of

Labor for "New York - Northern N.J. - Long Island, NY-NJ-CT-PA". For each

Contract Year during the Term of Employment beginning with the Contract Year

which starts on the first day of August next following the Term Commencement

Date, the minimum compensation payable to Executive under this ss.3(a)

(hereinafter called the "Minimum Base Salary") shall be determined by increasing

(or decreasing) the Original Base Salary by the percentage increase (or

decrease) of the Consumer Price Index for the month of June immediately

preceding the start of the Contract Year in question over (or below) the

Consumer Price Index for the month of June next preceding the Term Commencement

Date. [To illustrate the operation of the foregoing provisions of the paragraph:

In an Employment Agreement as to which the Term Commencement Date was August 1,

2004, the executive's base salary for the Contract Year August 1, 2005 through

July 31, 2006 would be not less that the Original Base Salary under that

Employment Agreement adjusted by the percentage increase (or decrease) of the

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