An arbitrator did not exceed her powers and the trial court correctly refused to vacate the arbitration award under CCP 1286.2(a)(4) for exceeding powers. The award limited the indemnity to which the parties’ contract otherwise entitled defendant on equitable grounds. Nothing in the agreement prohibited the arbitrator from doing so. Absent express provision to the contrary, the arbitrator may reasonably interpret a contract to permit limitation of its terms by equitable principles. See n Cohen v. TNP 2008 Participating Notes Program, LLC (2019) 31 Cal.App.5th 840, 847.