Exhibit 10.7

SunTrust Banks, Inc.
Deferral Plan Committee
December 31, 2002

Amendment Number Two to the
SunTrust Banks, Inc. 401(k) Excess Plan
Amended and Restated as of July 1, 1999

          WHEREAS, SunTrust Banks, Inc. (the “Corporation”) has adopted and
currently sponsors the SunTrust Banks, Inc. 401(k) Excess Plan, as amended and
restated effective July 1, 1999 (the “Excess Plan”) and subsequently amended;
and

          WHEREAS, the Compensation Committee of the Corporation’s Board of
Directors has sole discretionary authority pursuant to Section 8.1 of the Excess
Plan for the operation, interpretation and administration of the Excess Plan and
is authorized and empowered pursuant to Section 9.8 to amend or terminate the
Excess Plan; and

          WHEREAS, the Compensation Committee pursuant to paragraph 8.1.5 of the
Excess Plan has delegated authority to the Deferral Plan Committee serving under
the SunTrust Banks, Inc. Deferred Compensation Plan from time to time to handle
the day-to-day administration of the Excess Plan and to make such determinations
and to adopt such forms and rules and regulations as the Deferral Plan Committee
may deem necessary or appropriate to carry out the administrative duties of the
Compensation Committee; and

          WHEREAS, the Deferral Plan Committee has determined that the Excess
Plan should be amended to reflect certain benefit changes occurring in 2003.

          NOW THEREFORE, BE IT RESOLVED That Amendment Number Two to the Excess
Plan, as set forth in the attached Exhibit 1, is adopted effective January 1,
2003.

          IN WITNESS WHEREOF, the Deferral Plan Committee has caused this
Amendment Number Two to be executed by its duly authorized member.

          EXECUTED this 31st  day of December, 2002.

DEFERRAL PLAN COMMITTEE

 

ATTEST

 

 

 

 

 

 

 

 

 

 

By:

/s/ MARY S. HARRELL

 

By:

/s/ JEAN AZURMENDI

 

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Title:

First Vice President

 

Title:

Vice President

 

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Exhibit 1

AMENDMENT NUMBER TWO TO THE
SUNTRUST BANKS, INC. 401(k) EXCESS PLAN
AS AMENDED AND RESTATED EFFECTIVE JULY 1, 1999

          The SunTrust Banks, Inc. 401(k) Excess Plan, as amended and restated
effective July 1, 1999, and subsequently amended, is further amended as set
forth below, effective as of January 1, 2003.

The introductory paragraph of paragraph 2.1 is amended to read as follows to
reflect a change in the deferral rate for the Excess Plan:

 

2.1

Election.  An Eligible Employee who wishes to become a Participant in this
Excess Plan must file an initial Deferral Election Form on or before the
Election Date, designating the amount of elective contribution to be made to his
Account for the Plan Year, which shall be expressed as a whole percentage of his
Eligible Compensation (between one percent (1%) and twenty percent (20%) unless
otherwise announced by the Compensation Committee).  If an Eligible Employee
fails to designate a contribution rate, his contribution rate hereunder shall be
the same rate he has elected under the 401(k) Plan as of the Election Date.