Amended and Restated 2006 Equity Incentive Plan



 Exhibit 10.1 

STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 

as Amended and Restated 
  

	1.	DEFINED TERMS; EFFECTIVE DATE 


Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to
those terms. The Plan shall take effect on the Effective Date. 
  

	2.	PURPOSE 

 The Plan has
been established to advance the interests of the Company by providing for the grant to Participants of Stock-based Awards. 
  

	3.	ADMINISTRATION 

 The
Administrator has discretionary authority, subject only to the express provisions of the Plan, to interpret the Plan, determine eligibility for and grant or cancel Awards; determine, modify or waive the terms and conditions, size, or type of any
Award, prescribe forms, rules and procedures, and otherwise do all things necessary to carry out the purposes of the Plan. In the case of any Award intended to be eligible for the performance-based compensation exception under Section 162(m),
the Administrator will exercise its discretion consistent with qualifying the Award for that exception. Determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 

 

	4.	LIMITS ON AWARDS UNDER THE PLAN 


(a) Number of Shares. The number of shares of Stock available for delivery in satisfaction of Awards under the Plan shall be
determined in accordance with this Section 4(a). 
 (1) Subject to Section 7(b), the maximum number of shares
of Stock that may be delivered in satisfaction of Awards under the Plan shall be 37,000,000 plus the number (not to exceed 8,000,000) of unused Prior Plan shares. For purposes of the preceding sentence, shares of Stock shall be unused Prior Plan
shares (i) if they were subject to awards under the Prior Plan, other than restricted stock awards, that were outstanding on the day preceding the Effective Date to the extent such Prior Plan awards are exercised or are satisfied, or terminate
or expire, on or after the Effective Date without the delivery of such shares, or (ii) if they were outstanding on the day preceding the Effective Date as restricted stock awards under the Prior Plan and are thereafter forfeited. The number of
shares of Stock delivered in satisfaction of an Award shall be, for purposes of the first sentence of this Section 4(a)(1), the number of shares of Stock subject to the Award reduced by the number of shares of Stock (a) withheld by the
Company in payment of the exercise price of the Award or in satisfaction of tax withholding requirements with respect to the Award, or (b) awarded under the Plan as Restricted Stock but thereafter forfeited, or (c) made subject to an Award
that is exercised or satisfied, or that terminates or expires, without the delivery of such shares. 







 (2) To the extent consistent with the requirements of
Section 422 and with other applicable legal requirements (including applicable stock exchange requirements), Stock issued under awards of an acquired company that are converted, replaced, or adjusted in connection with the acquisition shall not
reduce the number of shares available for Awards under the Plan. 
 (b) Type of Shares. Stock delivered by the
Company under the Plan may be authorized but unissued Stock or previously issued Stock acquired by the Company. No fractional shares of Stock will be delivered under the Plan. 

(c) Section 162(m) Limits. Subject to Section 7(b), the maximum number of shares of Stock for which Stock Options
may be granted to any person in any calendar year and the maximum number of shares of Stock subject to SARs granted to any person in any calendar year shall each be 2,000,000, and the maximum number of shares subject to other Awards granted to any
person in any calendar year shall be 2,000,000 shares. The provisions of this Section 4(c) shall be construed in a manner consistent with Section 162(m). 
  

	5.	ELIGIBILITY AND PARTICIPATION 


The Administrator will select Participants from among those key Employees and directors of, and consultants and advisors to, the Company
or its Subsidiaries who, in the opinion of the Administrator, are in a position to make a significant contribution to the success of the Company and its Subsidiaries. Eligibility for ISOs is limited to employees of the Company or of a “parent
corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code. 
  

	6.	RULES APPLICABLE TO AWARDS 


(a) All Awards 

(1) Award Provisions. The Administrator will determine the terms of all Awards, subject to the limitations provided herein.
By accepting any Award granted hereunder, the Participant agrees to the terms of the Award and the Plan. Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection
with the acquisition may contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. 

(2) Term of Plan. No Awards may be made after May 19, 2019, but previously granted Awards may continue beyond that
date in accordance with their terms. 
 (3) Transferability. Neither ISOs nor, except for gratuitous transfers
(i.e., transfers for no consideration) to the extent permitted by the Administrator, other Awards may be transferred other than by will or the laws of descent and distribution, and during a Participant’s lifetime ISOs (and, except as the
Administrator otherwise expressly provides, other non-transferable Awards requiring exercise) may be exercised only by the Participant. 
  

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 (4) Vesting, Etc. The Administrator may determine the time or times at
which an Award will vest or become exercisable and the terms on which an Award requiring exercise will remain exercisable. Without limiting the foregoing, the Administrator may at any time accelerate the vesting or exercisability of an Award,
regardless of any adverse or potentially adverse tax consequences resulting from such acceleration. Unless the Administrator expressly provides otherwise, however, the following rules will apply: immediately upon the cessation of the
Participant’s Employment, each Award requiring exercise that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate, and all other Awards that are then held by
the Participant or by the Participant’s permitted transferees, if any, to the extent not already vested will be forfeited, except that: 

(A) subject to (B) and (C) below, all Stock Options and SARs held by the Participant or the Participant’s
permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of three months or (ii) the period ending on the
latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate; 

(B) all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately
prior to the Participant’s death, to the extent then exercisable, will remain exercisable for the lesser of (i) the one year period ending with the first anniversary of the Participant’s death or (ii) the period ending on the
latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate; and 

(C) all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately
prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation if the Administrator in its sole discretion determines that such cessation of Employment has resulted for reasons which cast such discredit on
the Participant as to justify immediate termination of the Award. 
 (5) Taxes. The Administrator will make such
provision for the withholding of taxes as it deems necessary. The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding
requirements (but not in excess of the minimum withholding required by law). 
 (6) Dividend Equivalents, Etc. The
Administrator may provide for the payment of amounts in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award. Any entitlement to dividend equivalents or similar entitlements shall be established and
administered consistent either with exemption from, or compliance with, the requirements of Section 409A to the extent applicable. 
  

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 (7) Rights Limited. Nothing in the Plan will be construed as giving any person
the right to continued employment or service with the Company or its Subsidiaries, or any rights as a shareholder except as to shares of Stock actually issued under the Plan. The loss of existing or potential profit in Awards will not constitute an
element of damages in the event of termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or Subsidiary to the Participant. 

(8) Section 162(m). This Section 6(a)(8) applies to any Performance Award intended to qualify as
performance-based for the purposes of Section 162(m) other than a Stock Option or SAR. In the case of any Performance Award to which this Section 6(a)(8) applies, the Plan and such Award will be construed to the maximum extent permitted by
law in a manner consistent with qualifying the Award for such exception. With respect to such Performance Awards, the Administrator will preestablish, in writing, one or more specific Performance Criteria no later than 90 days after the commencement
of the period of service to which the performance relates (or at such earlier time as is required to qualify the Award as performance-based under Section 162(m)). Prior to grant, vesting or payment of the Performance Award, as the case may be,
the Administrator will certify whether the applicable Performance Criteria have been attained and such determination will be final and conclusive. No Performance Award to which this Section 6(a)(8) applies may be granted after the first meeting
of the shareholders of the Company held in 2014 until the listed performance measures set forth in the definition of “Performance Criteria” (as originally approved or as subsequently amended) have been resubmitted to and reapproved by the
shareholders of the Company in accordance with the requirements of Section 162(m) of the Code, unless such grant is made contingent upon such approval. 

(b) Awards Requiring Exercise 

(1) Time And Manner Of Exercise. Unless the Administrator expressly provides otherwise, an Award requiring exercise by
the holder will not be deemed to have been exercised until the Administrator receives a notice of exercise (in form acceptable to the Administrator) signed by the appropriate person and accompanied by any payment required under the Award. If the
Award is exercised by any person other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to do so. 

(2) Section 409A Exemption. Except as the Administrator otherwise determines, no Award requiring exercise shall have
deferral features, or shall be administered in a manner, that would cause such Award to fail to qualify for exemption from Section 409A. 

(3) Exercise Price. The exercise price (or the base value from which appreciation is to be measured) of each Award
requiring exercise shall be 100% of the fair market value of the Stock subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant. No such Award, once granted, may
be repriced other than in accordance with the applicable shareholder approval requirements of the New York Stock Exchange. Fair market value shall be determined by the Administrator consistent with the requirements of Section 422 and
Section 409A. 
  

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 (4) Payment Of Exercise Price. Where the exercise of an Award is to be
accompanied by payment, the Administrator may determine the required or permitted forms of payment, subject to the following: all payments will be by cash or check acceptable to the Administrator, or, if so permitted by the Administrator and if
legally permissible, (i) through the delivery of shares of Stock that have been outstanding for at least six months (unless the Administrator approves a shorter period) and that have a fair market value equal to the exercise price,
(ii) through a broker-assisted exercise program acceptable to the Administrator, (iii) by other means acceptable to the Administrator, or (iv) by any combination of the foregoing permissible forms of payment. The delivery of shares in
payment of the exercise price under Section 6(b)(3)(i) above may be accomplished either by actual delivery or by constructive delivery through attestation of ownership, subject to such rules as the Administrator may prescribe. 

(c) Awards Not Requiring Exercise 

Restricted Stock and Unrestricted Stock, whether delivered outright or under Awards of Stock Units or other Awards that do not require
exercise, may be made in exchange for such lawful consideration, including services, as the Administrator determines. Any Award resulting in a deferral of compensation subject to Section 409A shall be construed to the maximum extent possible,
as determined by the Administrator, consistent with the requirements of Section 409A. 
  

	7.	EFFECT OF CERTAIN TRANSACTIONS 


(a) Mergers, etc. Except as otherwise provided in an Award, the following provisions
shall apply in the event of a Covered Transaction: 
 (1) Assumption or Substitution. If the Covered Transaction
is one in which there is an acquiring or surviving entity, the Administrator may provide for the assumption of some or all outstanding Awards or for the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the
acquiror or survivor. 
 (2) Cash-Out of Awards. If the Covered Transaction is one in which holders of Stock will
receive upon consummation a payment (whether cash, non-cash or a combination of the foregoing), the Administrator may provide for payment (a “cash-out”), with respect to some or all Awards, equal in the case of each affected Award to the
excess, if any, of (A) the fair market value of one share of Stock (as determined by the Administrator in its reasonable discretion) times the number of shares of Stock subject to the Award, over (B) the aggregate exercise or purchase
price, if any, under the Award (in the case of an SAR, the aggregate base price above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of Stock) and other terms, and
subject to such conditions, as the Administrator determines. 
 (3) Acceleration of Certain Awards. If the Covered
Transaction (whether or not there is an acquiring or surviving entity) is one in which there is no assumption, substitution 
  


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or cash-out, each Award requiring exercise will become fully exercisable, and the delivery of shares of Stock deliverable under each outstanding Award of Stock Units (including Restricted Stock
Units and Performance Awards to the extent consisting of Stock Units) will be accelerated and such shares will be delivered, prior to the Covered Transaction, in each case on a basis that gives the holder of the Award a reasonable opportunity, as
determined by the Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a shareholder in the Covered Transaction. 

(4) Termination of Awards Upon Consummation of Covered Transaction. Each Award (unless assumed pursuant to
Section 7(a)(1) above), other than outstanding shares of Restricted Stock (which shall be treated in the same manner as other shares of Stock, subject to Section 7(a)(5) below), will terminate upon consummation of the Covered Transaction.

 (5) Additional Limitations. Any share of Stock delivered pursuant to Section 7(a)(2) or
Section 7(a)(3) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions to which the Award was
subject. In the case of Restricted Stock, the Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such
restrictions as the Administrator deems appropriate to carry out the intent of the Plan. 
 (b) Change in and
Distributions With Respect to Stock; Other Adjustments 
 (1) Basic Adjustment Provisions. In the event of
a stock dividend, stock split or combination of shares (including a reverse stock split), recapitalization or other change in the Company’s capital structure, the Administrator will make appropriate adjustments to the maximum number of shares
specified in Section 4(a) that may be delivered under the Plan and to the maximum share limits described in Section 4(c), and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards
then outstanding or subsequently granted, any exercise prices relating to Awards and any other provision of Awards affected by such change. 

(2) Certain Other Adjustments. The Administrator may also make adjustments of the type described in Section 7(b)(1)
above to take into account distributions to shareholders other than those provided for in Section 7(a) and 7(b)(1), material changes in law or accounting practices, principles, or interpretations, mergers, consolidations, acquisitions,
dispositions, or similar corporate transactions, or any other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the operation of the Plan, having due regard for the qualification of ISOs under
Section 422, the requirements of Section 409A, and the performance-based compensation rules of Section 162(m), where applicable. 
  

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 (3) Continuing Application of Plan Terms. References in the Plan to shares of
Stock will be construed to include any stock or securities resulting from an adjustment pursuant to this Section 7. 

(c) Change in Control Provisions. Notwithstanding any other provision of the Plan to the contrary, in the event of a Change
of Control: 
 (1) Acceleration of Stock Options and SARs; Effect on Other Awards. All Stock Options and SARs
outstanding as of the date such Change of Control is determined to have occurred and which are not then exercisable shall (prior to application of the provisions of Section 7(a), above, in the case of a Change of Control that also constitutes a
Covered Transaction) become exercisable to the full extent of the original grant, all shares of Restricted Stock which are not otherwise vested shall vest, and holders of Performance Awards granted hereunder as to which the relevant performance
period has not ended as of the date such Change of Control is determined to have occurred shall be entitled at the time of such Change of Control to receive a cash-out with respect to each Performance Award in the amount and in a form described in
Section 7(a)(2). 
 (2) Restriction on Application of Plan Provisions Applicable in the Event of Termination of
Employment. After a Change of Control, Stock Options and SARs granted under Section 7(a)(1) as substitution for existing Awards shall remain exercisable following a termination of employment or other service relationship (other than
termination by reason of death, disability (as determined by the Company) or retirement (as defined in the Award)) for the lesser of (i) a period of seven (7) months, or (ii) the period ending on the latest date on which such Stock
Option or SAR could otherwise have been exercised. 
 (3) Restriction on Amendment. In connection with or
following a Change of Control, neither the Committee nor the Board may impose additional conditions upon exercise or otherwise amend or restrict any Award, or amend the terms of the Plan in any manner adverse to the holder thereof, without the
written consent of such holder. 
 (d) Section 409A. Notwithstanding the foregoing provisions of this
Section 7, Awards subject to and intended to satisfy the requirements of Section 409A shall be construed and administered consistent with such intent. 
  

	8.	LEGAL CONDITIONS ON DELIVERY OF STOCK 


The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock
previously delivered under the Plan until: (i) the Company is satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of
delivery listed on any stock exchange or national market system, the shares to be delivered have been 
  

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listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have been satisfied or waived. If the sale of Stock has
not been registered under the Securities Act of 1933, as amended, the Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of such
Act. The Company may require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the certificates pending lapse of the
applicable restrictions. 
  

	9.	AMENDMENT AND TERMINATION 


The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by
law, and may at any time terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of an Award so
as to affect materially and adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time of the Award. Any amendments to the Plan shall be conditioned upon shareholder approval
only to the extent, if any, such approval is required by law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 
  

	10.	OTHER COMPENSATION ARRANGEMENTS 


The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to award a person bonuses or other
compensation in addition to Awards under the Plan. 
  

	11.	MISCELLANEOUS 

 (a)
Waiver of Jury Trial. By accepting an Award under the Plan, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver,
consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim shall be tried before a court and not before a jury. By
accepting an Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim,
seek to enforce the foregoing waivers. 
 (b) Limitation of Liability. Notwithstanding anything to the contrary in
the Plan, neither the Company nor the Administrator, nor any person acting on behalf of the Company or the Administrator, shall be liable to any Participant or to the estate or beneficiary of any Participant by reason of any acceleration of income,
or any additional tax, asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason 

 

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of Section 4999 of the Code; provided, that nothing in this Section 11(b) shall limit the ability of the Administrator or the Company to provide by express agreement with a
Participant for a gross-up payment or other payment in connection with any such tax or additional tax. 
 (c) Special
Terms for Non-U.S. Participants. The Administrator may establish special rules under the Plan (which may be, but need not be, consistent with the rules applicable to Participants and Awards generally) for Awards to Participants who are
or are expected to be employed by or otherwise providing services outside the United States or to a non-U.S. Subsidiary, provided, that no such rules shall be established without the approval of the shareholders of the Company to the extent they
would be ineffective without such shareholder approval if accomplished as an amendment to the Plan pursuant to Section 9. 
  

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 EXHIBIT A 

Definition of Terms 

The following terms, when used in the Plan, will have the meanings and be subject to the provisions set forth below: 

“Administrator”: The Executive Compensation Committee or, if the Board so determines, another committee of the Board,
except that the Executive Compensation Committee or such other committee may delegate (i) to one or more of its members such of its duties, powers and responsibilities as it may determine; (ii) to one or more officers of the Company the
power and authority to grant or to allocate, consistent with the requirements of Chapter 156D of the Massachusetts General Laws and subject to such limitations as the Executive Compensation Committee or such other committee may impose, Awards among
such persons (other than officers of the Company) eligible to receive Awards under the Plan as such delegated officer or officers determine consistent with such delegation; and (iii) to such Employees or other persons as it determines such
ministerial tasks as it deems appropriate. In the event of any delegation described in the preceding sentence, the term “Administrator” shall include the person or persons so delegated to the extent of such delegation. If the Executive
Compensation Committee or such other committee includes members who are not “non-employee directors” within the meaning of Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, or “outside directors”
within the meaning of paragraph (4)(c)(i) of Section 162(m), it shall act and shall be deemed to have acted, in any case where it would be required to do so with respect to Awards to directors or executive officers of the Company to ensure
exemption under Rule 16b-3 or Section 162(m), through a subcommittee consisting solely of its non-employee and outside director members. 

“Award”: Any or a combination of the following: 

(i) Stock Options. 

(ii) SARs. 

(iii) Restricted Stock. 

(iv) Unrestricted Stock. 

(v) Stock Units, including Restricted Stock Units. 

(vi) Performance Awards. 

(vii) Awards (other than Awards described in (i) through (vi) above) that are convertible into or otherwise
based on Stock. 
  

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 “Board”: The Board of Directors of the Company. 

“Change in Control”: Any of the following: 

(1) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
“Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 25% or more of either (x) the then outstanding shares of Stock of the Company (the “Outstanding Company Common
Stock”) or (y) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, the
following acquisitions of Outstanding Company Common Stock and Outstanding Company Voting Securities: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit
plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition by any Person pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection
(3) of this definition; or 
 (2) Individuals who, as of the effective date of the Plan, constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual who becomes a member of the Board subsequent to such effective date, whose election, or nomination for election
by the Company’s shareholders, was approved by a vote of at least a majority of directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board; but, provided further, that any
such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Board shall not be so considered as a member of the Incumbent Board; or 

(3) Consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of
the assets of the Company (“Business Combination”); excluding, however, such a Business Combination pursuant to which (i) all or substantially all of the individuals and entities who are the beneficial owners, respectively, of the
Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting
power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result
of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business
Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (other than any employee benefit plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company or such corporation resulting from such Business Combination) will beneficially own, directly or indirectly, 25% or 

 

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more of, respectively, the outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the outstanding voting securities of such
corporation entitled to vote generally in the election of directors except to the extent that such ownership existed with respect to the Company prior to the Business Combination and (iii) at least a majority of the members of the board of
directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

(4) The approval by the shareholders of the Company of a complete liquidation or dissolution of the Company; 

provided, that, to the extent necessary to ensure compliance with the requirements of Section 409A, where applicable, an event described
above shall be treated as a Change in Control only if it also constitutes or results in a change in ownership or control of the Company, or a change in ownership of assets of the Company, described in Section 409A. 

“Code”: The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as
from time to time in effect. Any reference to a provision of the Code shall include, as determined by the Administrator, a reference to applicable regulations and Internal Revenue Service guidance with respect to such provision. 

“Company”: State Street Corporation. 

“Covered Transaction”: Any of (i) a consolidation, merger, or similar transaction or series of related
transactions, including a sale or other disposition of stock, in which the Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single
person or entity or by a group of persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company. Where a Covered
Transaction involves a tender offer that is reasonably expected to be followed by a merger described in clause (i) (as determined by the Administrator), the Covered Transaction shall be deemed to have occurred upon consummation of the tender
offer. 
 “Effective Date”: The date on which the shareholders of the Company approve the Plan. 

“Employee”: Any person who is employed by the Company or a Subsidiary. 

“Employment”: A Participant’s employment or other service relationship with the Company and its Subsidiaries.
Employment will be deemed to continue, unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to the Company or its Subsidiaries.
If a Participant’s employment or other service relationship is with a Subsidiary and that entity ceases to be a Subsidiary, the Participant’s Employment will be deemed to have terminated when the entity ceases to be a Subsidiary unless the
Participant transfers Employment to the Company or its remaining Subsidiaries. 
  

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 “Executive Compensation Committee”: The Executive Compensation Committee of
the Board. 
 “ISO”: A Stock Option intended to be an “incentive stock option” within the meaning of
Section 422. Each option granted pursuant to the Plan will be treated as providing by its terms that it is to be a non-incentive stock option unless, as of the date of grant, it is expressly designated as an ISO. No ISO shall be exercisable
beyond ten years from the date of grant. 
 “Participant”: A person who is granted an Award under the Plan.

 “Performance Award”: An Award subject to Performance Criteria. The Committee in its discretion may grant
Performance Awards that are intended to qualify for the performance-based compensation exception under Section 162(m) and Performance Awards that are not intended so to qualify. 

“Performance Criteria”: Specified criteria, other than the mere continuation of Employment or the mere passage of time,
the satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of an Award. For purposes of Awards that are intended to qualify for the performance-based compensation exception under Section 162(m), a
Performance Criterion will mean an objectively determinable measure of performance relating to any or any combination of the following (measured either absolutely or by reference to an index or indices and determined either on a consolidated basis
or, as the context permits, on a divisional, subsidiary, line of business, project or geographical basis or in combinations thereof): sales; revenue; assets; expenses; expense control; earnings before or after deduction for all or any portion of
interest, taxes, depreciation, or amortization, whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital or assets; capital or capital ratios; one or more operating ratios; operating
leverage; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock price; shareholder return; sales of particular products or services; customer acquisition or retention; acquisitions and divestitures
(in whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and the like; reorganizations; or recapitalizations, restructurings, financings (issuance of debt or equity) or refinancings. A Performance Criterion and any targets
with respect thereto determined by the Administrator need not be based upon an increase, a positive or improved result or avoidance of loss. To the extent consistent with the requirements for satisfying the performance-based compensation exception
under Section 162(m), the Administrator may provide in the case of any Award intended to qualify for such exception that one or more of the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to
reflect events (for example, but without limitation, acquisitions or dispositions, changes in accounting principles or interpretations, impairment charges) occurring during the performance period that affect the applicable Performance Criterion or
Criteria. 
  

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 “Plan”: The State Street Corporation 2006 Equity Incentive Plan as from
time to time amended and in effect. 
 “Prior Plan”: The State Street Corporation 1997 Equity Incentive Plan as
amended and in effect prior to the Effective Date. 
 “Restricted Stock”: Stock subject to restrictions
requiring that it be redelivered or offered for sale to the Company if specified conditions are not satisfied. 

“Restricted Stock Unit”: A Stock Unit that is, or as to which the delivery of Stock or cash in lieu of Stock is, subject
to the satisfaction of specified performance or other vesting conditions. 
 “SAR”: A right entitling the
holder upon exercise to receive an amount (payable in shares of Stock of equivalent value) equal to the excess of the fair market value of the shares of Stock subject to the right over the fair market value of such shares at the date of grant.

 “Section 409A”: Section 409A of the Code. 

“Section 422”: Section 422 of the Code. 

“Section 162(m)”: Section 162(m) of the Code. 

“Stock”: The Common Stock of the Company, par value $1 per share. 

“Stock Option”: An option entitling the holder to acquire shares of Stock upon payment of the exercise price.

 “Stock Unit”: An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash
measured by the value of Stock in the future. 
 “Subsidiary”: Any corporation or other entity that stands in a
relationship to the Company that would result in the Company and such corporation or other entity being treated as one employer under Section 414(b) or Section 414(c) of the Code, except that in determining eligibility for the grant of a
Stock Option or SAR by reason of service for a Subsidiary, Sections 414(b) and 414(c) of the Code shall be applied by substituting “at least 50%” for “at least 80%” under Section 1563(a)(1), (2) and (3) of the Code
and Treas. Regs. § 1.414(c)-2; provided, that to the extent permitted under Section 409A, “at least 20%” shall be used in lieu of “at least 50%”; and further provided, that the lower ownership
threshold described in this definition (50% or 20% as the case may be) shall apply only if the same definition of affiliation is used consistently with respect to all compensatory stock options or stock awards (whether under the Plan or

  

 -14- 








 
another plan). The Company may at any time by amendment provide that different ownership thresholds (consistent with Section 409A) apply. Notwithstanding the foregoing provisions of this
definition, except as otherwise determined by the Administrator a corporation or other entity shall be treated as a Subsidiary only if its employees would be treated as employees of the Company for purposes of the rules promulgated under the
Securities Act of 1933, as amended, with respect to the use of Form S-8. 
 “Unrestricted Stock”: Stock not
subject to any restrictions under the terms of the Award. 
  

 -15- 








 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 

Restricted Stock Unit Award Agreement with Performance Criteria 

Subject to your acceptance of the terms set forth in this agreement (the “Agreement”), State Street Corporation (the “Company”), has
awarded you a Restricted Stock Unit Award, under the Company’s 2006 Equity Incentive Plan, as amended (the “Plan”), which shall be payable if certain performance and other conditions are satisfied as described below. A copy of the
Plan document and the Company’s U.S. Prospectus are located on this website for your reference. The provisions of the Plan are incorporated herein by reference, and all terms used herein shall have the meaning given to them in the Plan, except
as otherwise expressly provided herein. In the event of any conflict between the provisions of this Agreement and the provisions of the Plan, the provisions of the Plan shall control. 

 

	1.	Grant of Performance Award. 

 You
have been granted an award (the “Award”) detailed in your Award information on the website maintained by Morgan Stanley Smith Barney (the “Statement”) subject to the terms of the Plan and this Agreement. To be entitled to any
payment under the Award, you must accept your Award and in so doing agree to comply with the terms and conditions of this Agreement and the Award. All terms and conditions of this Award must have been satisfied. The Award will be payable based in
part on performance measures (described below and in Exhibit I) over the four calendar year periods commencing January 1, 2010 and ending on December 31, 2013 (the “Performance Period”). The date on which the Performance Periods
end (December 31, 2013) is referred to herein as the “Maturity Date.” 
  

	2.	Performance Targets; Administrator Certification. 


Whether your Award will be paid and in what amounts will depend on achievement of average return on common equity calculated by metrics determined in
accordance with U.S. generally accepted accounting principles (“ROE”) as described in Exhibit I during the Performance Periods and the other terms and conditions as set forth herein. 

The specific ROE performance targets for the Performance Periods are established and set forth on Exhibit I attached hereto and made a part hereof.
Subject to the other terms and conditions of the Award, payment under this Award will only be made if the Administrator certifies, following the close of each Performance Period, that the pre-established threshold performance targets have been
exceeded and then only to the extent of the level of performance so certified as having been achieved. 
  

	3.	Form of Payment. 

 Any portion of
the Award earned by reason of the Administrator’s certification as described above will be payable in shares of the Company’s common stock (“Stock”) to you (or your beneficiary, in the case of your death) on or before the
March 15 next following the end of each Performance Period. The number of shares of Stock to be paid with respect to each vesting date will be determined by multiplying the number of Units referred to in your Statement that vest on such vesting
date by the Total Vesting Percentage. For this purpose, “Total Vesting Percentage” means the vesting percentage achieved for the ROE performance target specified in the table set forth in Exhibit I, for the Performance Period, as certified
by the Administrator. 
  
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	4.	Non - Transferability, Etc. 

 This
Award shall not be transferable otherwise than by will or the laws of descent and distribution. Any attempt by you (or in the case of your death, your beneficiary) to assign or transfer the Award, either voluntarily or involuntarily, contrary to the
provisions hereof, shall be null and void and without effect and shall render the Award itself null and void. 
  

	5.	Termination of Employment. 


(a) No amount shall be paid in respect of the Award in the event that you cease to be employed by the Company and its Subsidiaries due to
Circumstances of Forfeiture prior to the date the award is paid. If your employment with the Company and its Subsidiaries ceases by reason of: Retirement, Disability, death, or any reason other than for Circumstances of Forfeiture, then you shall be
eligible to receive an Award subject to paragraph b, below, [and Section 6,] based on the certification of the Administrator. Any amount payable pursuant to this paragraph 5 shall be paid in accordance with paragraph 3. 

(b) Payment to you of any Award after termination of your employment otherwise than by reason of your death shall be subject to the
conditions that until the date on which the Award is paid you 
 (i) shall not, without the prior written consent
of the Company, (A)(1) solicit, directly or indirectly (other than through a general solicitation of employment not specifically directed to employees of the Company and its Subsidiaries) the employment of, (2) hire or employ, (3) recruit,
or (4) in any way assist another in soliciting or recruiting the employment of, or (B) induce the termination of the employment of, any person who within the previous 12 months was an officer or principal of the Company or any of its
Subsidiaries; and 
 (ii) shall not, without the prior written consent of the Company, engage in the Solicitation
of Business (as defined below) from any client on behalf of any person or entity other than the Company and its Subsidiaries. 
 The term
“Solicitation of Business” means the attempt through direct or indirect contact by you or by any other person or entity with your assistance with a client with whom you have had or with whom persons supervised by you have had significant
personal contact while employed by the Company and its Subsidiaries to induce such client to (A) transfer its business from the Company and its Subsidiaries to any other person or entity, (B) cease or curtail its business with the Company
and its Subsidiaries, or (C) divert a business opportunity from the Company and its Subsidiaries to any other person or entity. If you do not comply with the above conditions, you shall forfeit all rights to any and all unpaid or unvested
equity awards held by you, and the Company may seek injunctive relief in addition to, and not in lieu of, any other relief to which it may be entitled. Any determination by the Administrator that you are, or have engaged in any prohibited conduct as
described above shall be conclusive and binding on all persons. 
 (c) For purposes hereof: 

(i) “Retirement” means your attainment of age 55 and completion of 5 years of service with the Company and its
Subsidiaries. 
 (ii) “Disability” means (A) your inability to engage in any substantially gainful
activity by reason of any medically determinable physical or mental impairment that can be expected to result in your death or can be expected to last for a continuous period of not less than 12 months (an “impairment”) or (B) if you,
as a result of the impairment, receive income replacement benefits for a period of not less than 3 months under a plan of the Company or a Subsidiary. 
  

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 (iii) “Circumstances of Forfeiture” means the termination of your
employment with the Company and its Subsidiaries either (A) voluntarily or (B) involuntarily for reasons determined by the Company in its sole and exclusive discretion to constitute “gross misconduct” (including in situation
where you are Retirement eligible). 
  

	6.	Non-Disclosure; Non-Competition. 


(a) By signing this Agreement and accepting the Award, you: 

(i) shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or
data relating to the Company, any of its Subsidiaries, and their respective businesses and Clients (as defined below), including but not limited to Clients’ identities and any and all information regarding or relating to their business
relationship with the Company, or any of its Subsidiaries, which shall have been obtained by you during your employment by the Company, or any of its Subsidiaries and which shall not be or become public knowledge (other than by acts by you or your
representatives in violation hereof), and you shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than
the Company and those designated by it. The term “Client(s)” means any person or entity that is a customer or client of the Company, or any of its Subsidiaries. 

(ii) shall not, without the prior written consent of the Company, engage in the Solicitation of Business (as defined
below) from any client on behalf of any person or entity other than the Company and its Subsidiaries. The term “Solicitation of Business” means the attempt through direct or indirect contact by you or by any other person or entity with
your assistance with a client with whom you have had or with whom persons supervised by you have had significant personal contact while employed by the Company and its Subsidiaries to induce such client to (A) transfer its business from the
Company and its Subsidiaries to any other person or entity, (B) cease or curtail its business with the Company and its Subsidiaries, or (C) divert a business opportunity from the Company and its Subsidiaries to any other person or entity
of the business with which you were actively connected during your employment. If you do not comply with the above conditions, you shall forfeit any remaining unvested shares under this Award. (Any determination by the Administrator that you are, or
have engaged in any prohibited conduct, as described above, shall be conclusive and binding on all persons.) 

(iii) shall not, without the prior written consent of the Company, (A)(1) solicit, directly or indirectly (other than
through a general solicitation of employment not specifically directed to employees of the Company and its Subsidiaries) the employment of, (2) hire or employ, (3) recruit, or (4) in any way assist another in soliciting or recruiting
the employment of, or (B) induce the termination of the employment of, any person who within the previous 12 months was an officer or principal of the Company or any of its Subsidiaries. 

If you do not comply with the above conditions, you shall forfeit all rights to any and all unpaid or unvested equity awards then held by you, and the
Company may seek injunctive relief in addition to, and not in lieu of, any other relief to which it may be entitled. Notwithstanding the foregoing, paragraph 6(b) shall be inapplicable following a Change of Control. 

 
 RSUA-US 

 

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 (b) By signing this Agreement and accepting the Award, you acknowledge that any and all
inventions, discoveries, improvements, copyrighted works (including computer programs), trademarks, processes, systems, and developments that are conceived, discovered or made solely or jointly during the term of your employment at State Street,
whether or not patentable or eligible to be copyrighted, (hereinafter “Inventions”) shall be deemed made in the regular course of your employment with State Street and within the scope of that employment and shall from the date of
creation, be owned exclusively by State Street. Furthermore, you hereby assign to State Street, without the necessity of any further consideration, all of your right, title and interest in and to any invention, in any and all media now known or
hereafter developed throughout the universe, and State Street shall be entitled to obtain and hold same in its own name on all applicable patents, registrations, At State Street’s request, you will reasonably cooperate with State Street to sign
any documents necessary to protect and enforce any such rights in State Street. 
  

	7.	Acceleration of Performance Award. 


Notwithstanding anything in this Agreement to the contrary, in the event of a Change of Control occurring prior to the Maturity Date, you shall be
entitled at the time of such Change of Control to receive a cash payment equal to the adjusted fair market value of a share of the Stock multiplied by the number of Units referred to in your Statement. For purposes of the preceding sentence,
“adjusted fair market value” shall mean the higher of the (i) the highest average of the reported daily high and low prices per share of the Stock during the 60-day period prior to the first date of actual knowledge by the Board of
circumstances that resulted in a Change of Control, and (ii) if the Change of Control is the result of a transaction or series of transactions described in paragraph 1 or 2 of the definition of Change of Control in the Plan, the highest price
per share of the Stock paid in such transaction series of transactions (which in the case of a transaction described in paragraph 1 of such definition in the Plan shall be the highest price per share of the Stock as reflected in a Schedule 13D filed
by the person having made the acquisition 
  

	8.	Changes in Capitalization or Corporate Structure. 


The Award is subject to adjustment pursuant to Section 7(b) of the Plan in the circumstances therein described. 

 

	9.	Amendments to Performance Units. 


Subject to the specific limitations set forth in the Plan, the Administrator may at any time suspend or terminate any rights or obligations relating to
the Award prior to the Maturity Date without your consent. 
  

	10.	Compliance with Section 162(m). 


The Administrator shall exercise its discretion with respect to this Award in all cases so as to preserve the deductibility of payments under the Award
against disallowance by reason of Section 162(m) of the Code. 
  

	11.	Shareholder Rights. 

 You are not
entitled to any rights as a Shareholder with respect to any shares of Stock subject to the Award until they are transferred to you. Without limiting the foregoing, you will have no right to receive dividends or amounts in lieu of dividends with
respect to the shares of Stock subject to the Award prior to any shares being transferred to you. 
  

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	12.	Withholding. 

 Regardless of any
action the Company or the Subsidiary that employs you (the “Employer”) takes with respect to any or all income tax (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account of
other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility. Furthermore, the Company and/or your Employer (a) make
no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant of the Award, the vesting of the Award and the issuance of shares of Stock in settlement, the
subsequent sale of any shares of Stock acquired upon vesting and the receipt of any dividends and/or dividend equivalents; and (b) do not commit to structure the terms of the grant or any aspect of the Award to reduce or eliminate your
liability for Tax-Related Items. 
 Prior to the delivery of any Stock upon the vesting of the Award, if any taxing jurisdiction requires
withholding of Tax-Related Items, the Company may withhold a sufficient number of whole shares of Stock otherwise issuable upon the vesting of the Award that have an aggregate fair market value sufficient to pay the minimum Tax-Related Items
required to be withheld with respect to the Award. The cash equivalent of the shares of Stock withheld will be used to settle the obligation to withhold the Tax-Related Items (determined in the Company’s reasonable discretion). No fractional
shares of Stock will be withheld or issued pursuant to the issuance of Stock hereunder. Alternatively, the Company and/or your Employer may, in its discretion, withhold any amount necessary to pay the Tax-Related Items from your salary or other
amounts payable to you, with no withholding in shares of Stock. In the event the withholding requirements are not satisfied through the withholding of shares of Stock or through your salary or other amounts payable to you, no shares of Stock will be
issued upon vesting of the Award unless and until satisfactory arrangements (as determined by the Company or Employer) have been made by you with respect to the payment of any Tax-Related Items which the Company and your Employer determines, in its
sole discretion, must be withheld or collected with respect to such Award. By accepting the grant of this Award, you expressly consent to the withholding of shares of Stock and/or cash as provided for hereunder. All other Tax-Related Items related
to the Award and any Stock delivered in payment thereof are your sole responsibility. 
  

	13.	Employee Rights. 

 Nothing in this
Award shall be construed to guarantee you any right of employment with the Company or any Subsidiary or to limit the discretion of any of them to terminate your employment at any time, with or without cause. 

 

	14.	Provisions of the Plan. 

 The
provisions of the Plan are incorporated herein by reference, and all terms not otherwise defined herein shall have the meaning given to them in the Plan. In the event of any conflict between the provisions of this Agreement and the provisions of the
Plan, the provisions of the Plan shall control. You acknowledge that you have received a copy of the Plan and a copy of the U.S. Prospectus for the Plan. 

If the Award and the foregoing terms and conditions are acceptable to you, please sign the enclosed counterpart of this letter and return the same to the
undersigned. By signing this letter, you acknowledge and agree that you are bound by the terms of the Agreement and the Plan. 
  

RSUA-US 
  

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	15.	Miscellaneous 

 a)
The grant of awards under the Plan is a one-time benefit and does not create any contractual or other right to receive an award or benefits in lieu of an award in the future. 

b) The Company reserves the right to impose other requirements on the Award, any shares of Stock acquired pursuant to the Award, and your
participation in the Plan, to the extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the administration of the Plan. Such requirements may
include (but are not limited to) requiring you to sign any agreements or undertakings that may be necessary to accomplish the foregoing. 

c) Your participation in the Plan is voluntary. The value of the your Award under the Plan is an extraordinary item of compensation and
this Award is not part of your normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments.

 d) The Company may, in its sole discretion, decide to deliver any documents related to the Award granted under the Plan by
electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company, Morgan Stanley Smith Barney or another
third party designated by the Company. 
 e) By accepting this Award electronically, you will be deemed to have acknowledged and
agreed that you are bound by the terms of this Agreement and the Plan, and it shall be deemed to have been accepted by the Company. 

f) You acknowledge and agree that it is your express intent that this Agreement, the Plan and all other documents, notices and legal
proceedings entered into, given or instituted pursuant to the Award, be drawn up in English. If you have received the Agreement, the Plan or any other documents related to the Award translated into a language other than English, and if the meaning
of the translated version is different than the English version, the English version will control. 
 g) Notwithstanding any
provisions of this Agreement to the contrary, the Award shall be subject to any special terms and conditions for your country of residence (and country of employment, if different), as are set forth in the applicable Addendum to the Agreement.
Further, if you transfer residence and/or employment to another country reflected in an Addendum to the Agreement, the special terms and conditions for such country will apply to you to the extent the Company determines, in its sole discretion, that
the application of such terms are necessary or advisable in order to comply with local law or to facilitate administration of the Plan. Any applicable Addendum shall constitute part of the Agreement. 

 
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 Exhibit I 

2010 Performance-Based Restricted Stock Unit Awards 

 

	 	•	 	 The number of Units subject to this Award shall be the number of Units specified in the Statement. 



 

	 	•	 	 Awards shall vest in four equal annual installments: 


  


	 	1.	First installment to vest based on ROE for the one-year period ending December 31, 2010 


 

	 	2.	Second installment to vest based on ROE for the two-year period ending December 31, 2011 


 

	 	3.	Third installment to vest based on ROE for the three-year period ending December 31, 2012 


 

	 	4.	Fourth installment to vest based on ROE for the four-year period ending December 31, 2013 


 

	 	•	 	 The number of shares that an individual receives with respect to each annual vesting installment shall be determined by multiplying the number of Units
that vest with such installment by the Total Vesting Percentage provided for in the table below. 


  

	 	•	 	 Performance targets set for 162(m) qualification purposes. 



 

				
	 ROE Results (Average)
	  	Total Vesting
Percentage	 
	 <5%
	  	0	% 
	 5%
	  	10	% 
	 6%
	  	20	% 
	 7%
	  	30	% 
	 8%
	  	40	% 
	 9%
	  	50	% 
	 10%
	  	60	% 
	 11%
	  	70	% 
	 12%
	  	80	% 
	 13%
	  	90	% 
	 14%
	  	100	% 
	 15%
	  	110	% 
	 16%
	  	120	% 
	 17%
	  	130	% 
	 >17%
	  	130	% 

  

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 Note: Shares granted at par 
  

 RSUA-US 
  

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 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 

Restricted Stock Award Agreement 

Subject to your acceptance of the terms set forth in this agreement (the “Agreement”), State Street Corporation (the “Company”) has
awarded to you “restricted” shares of common stock of the Company (“Stock”) (the “Award”), detailed in your Award information on the website maintained by Morgan Stanley Smith Barney (the “Statement”) and
pursuant to the State Street Corporation 2006 Equity Incentive Plan, as amended (the “Plan”) and the terms set forth below. A copy of the Plan document and the Company’s U.S. Prospectus are located on this website for your reference.
The provisions of the Plan are incorporated herein by reference, and all terms used herein shall have the meaning given to them in the Plan, except as otherwise expressly provided herein. In the event of conflict between the provisions of the
Agreement and the provisions of the Plan, the provisions of the Plan shall control. 
 In consideration of the Company’s accepting this
Agreement and transferring to you, the Award recipient, the shares of Stock provided for herein and in the accompanying Statement, you hereby agree with the Company as follows: 

 

	1.	If certificates for the shares awarded hereunder are issued, the certificates for any unvested shares shall be held by the Company with blank stock powers to be used in
the event of forfeiture. If unvested shares are held in book entry form, the Company may give stop transfer instructions to the depository to ensure compliance with the provisions hereof. Subject to paragraph 3 and this paragraph 1, your right to
unrestricted shares shall vest according to the vesting schedule detailed in the Statement. The term “vest” as used herein means the lapsing of the restrictions described herein and in the Plan with respect to one or more shares of Stock.
To vest in all or any portion of this Award as of any date, you must have been continuously employed with the Company or any Subsidiary from and after the date hereof and until (and including) the applicable vesting date, except as otherwise
provided herein. 

  

	2.	Except as provided below, this Award shall not be transferable other than by will or the laws of descent and distribution. Any attempt by you (or in the case of your
death, by your beneficiary) to assign or transfer the Award, either voluntarily or involuntarily, contrary to the provisions hereof, shall be null and void and without effect and shall render the Award itself null and void. 


 

	3.	

  

	 	(a)	This Award shall vest according to the vesting schedule detailed in your Statement if you meet the terms of section 3(c) below and otherwise comply with the terms of
this Agreement and the Plan. 

  

	 	(b)	In the event you cease to be employed by the Company and its Subsidiaries either 


 

	 	(i)	voluntarily; or, 

  

	 	(ii)	involuntarily for reasons determined by the Company in its sole and exclusive discretion to constitute “gross misconduct” (including in situations where you
are Retirement eligible) 

 (collectively, “Circumstances of Forfeiture”), the Stock acquired hereunder,
less any shares that have previously vested, shall be immediately forfeited to the Company. 
  

	 	(c)	If your employment terminates by reason of Retirement (other than as noted in 3(b) above), Disability, death, or any reason other than for Circumstances of Forfeiture,
your unvested shares of Stock shall continue to vest in accordance with the vesting schedule detailed in your Statement subject to the restrictions in paragraphs (f) and (g), below. 









	 	(d)	If you die after your employment has terminated for a reason permitting continued vesting pursuant to subsection 3(c) above, any remaining unvested shares acquired
hereunder that have not previously vested or been forfeited shall immediately vest on the date of your death. 

  

	 	(e)	If you die while employed by the Company and its Subsidiaries, or in the event that a Change of Control as defined in the Plan occurs while you are employed by the
Company and its Subsidiaries, all shares acquired hereunder that have not previously vested or been forfeited shall immediately vest on the date of your death or such Change of Control. 


 

	 	(f)	To the extent that your Award continues to vest pursuant to subsection 3(c) above, you shall not, without the prior written consent of the Company, (A)(1) solicit,
directly or indirectly (other than through a general solicitation of employment not specifically directed to employees of the Company and its Subsidiaries) the employment of, (2) hire or employ, (3) recruit, or (4) in any way assist
another in soliciting or recruiting the employment of, or (B) induce the termination of the employment of, any person who within the previous 12 months was an officer or principal of the Company or any of its Subsidiaries; and (ii) shall
not, without the prior written consent of the Company, engage in the Solicitation of Business (as defined below) from any client on behalf of any person or entity other than the Company and its Subsidiaries. The term “Solicitation of
Business” means the attempt through direct or indirect contact by you or by any other person or entity with your assistance with a client with whom you have had or with whom persons supervised by you have had significant personal contact while
employed by the Company and its Subsidiaries to induce such client to (A) transfer its business from the Company and its Subsidiaries to any other person or entity, (B) cease or curtail its business with the Company and its Subsidiaries,
or (C) divert a business opportunity from the Company and its Subsidiaries to any other person or entity of the business with which you were actively connected during your employment. If you do not comply with the above conditions, you shall
forfeit any remaining unvested shares under this Award. Any determination by the Administrator that you are, or have engaged in any prohibited conduct, as described above, shall be conclusive and binding on all persons. Notwithstanding the
foregoing, this paragraph 3(f) shall become inapplicable following a Change of Control. 

  

	 	(g)	You hereby (i) acknowledge that the shares of Stock issued to you under the Agreement may be held in book entry form on the books of Computershare Limited (or
another institution specified by the Company), and irrevocably authorize the Company to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such shares that are unvested and forfeited
hereunder, (ii) agree to deliver to the Company, as a precondition to the issuance of any stock certificate or certificates with respect to unvested shares of Stock hereunder, one or more stock powers, endorsed in blank, with respect to such
shares, and (iii) agree to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture hereunder. 


 

	4.	For purposes hereof, 

  

	 	(a)	“Retirement” means your attainment of age 55 and completion of 5 years of service with the Company and its Subsidiaries; and 


 
 RSA-US 

 

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	 	(b)	“Disability” means (x) your inability to engage in any substantially gainful activity by reason of any medically determinable physical or mental
impairment that can be expected to result in your death or can be expected to last for a continuous period of not less than 12 months (an “impairment”) or (y) if you, as a result of the impairment, receive income replacement benefits
for a period of not less than 3 months under a State Street plan. 

  

	5.	Any stock certificates representing unvested shares shall be held by the Company, and any such certificate (and to the extent determined by the Company, any other
evidence of ownership of unvested shares) shall contain the following legend: 

 THE TRANSFERABILITY OF THIS
CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE STATE STREET CORPORATION 2006 EQUITY INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT ENTERED INTO BETWEEN THE
REGISTERED OWNER AND STATE STREET CORPORATION. COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE OFFICES OF STATE STREET CORPORATION. 
  

	6.	As soon as practicable following the vesting of any such shares the Company shall cause a stock certificate or certificates covering such shares, without the aforesaid
legend, to be issued and delivered to you (or in the event of your death, to your designated beneficiary), subject to paragraph 9, below. 

  

	7.	You shall be entitled to any and all dividends or other distributions paid with respect to all shares of Stock acquired hereunder which have not been forfeited or
otherwise disposed of and shall be entitled to vote any such shares; provided, however, that any property (other than cash) distributed with respect to a share of Stock (the “associated share”) acquired hereunder, including without
limitation a distribution of Stock by reason of a stock dividend, stock split or otherwise, or a distribution of other securities with respect to an associated share, shall be subject to the restrictions of this Agreement in the same manner and for
so long as the associated share remains subject to such restrictions, and shall be promptly forfeited to the Company if and when the associated share is so forfeited. 


 

	8.	You understand that once a certificate bearing no legend has been delivered to you in respect of shares of Stock acquired hereunder which have vested, you will be free
to sell the shares of Stock evidenced by such certificate, subject to applicable requirements of federal and state securities laws. 

  

	9.	You expressly acknowledge that the vesting of the shares of Stock acquired hereunder will give rise to ordinary income, subject to tax withholding through your local
payroll. The amount of income realized will be the fair market value of the shares upon vesting when the substantial risk of forfeiture lapses. You expressly acknowledge and agree that your rights hereunder are subject to your paying to the Company
in cash, or by selling shares of Stock acquired hereunder, or by the delivery of previously acquired Stock, any applicable taxes required to be withheld in connection with such vesting in a form and manner satisfactory to the Company.


  

	10.	Tax Related Items. 

  

	 	(a)	 Section 83 (b) Election. You acknowledge that you may elect, within 30 days following the date of grant, under Section 83(b) of
the U.S. Internal Revenue Code of 1986, as amended (a “Section 83(b) Election”), to recognize income at the time of the Award. If 



 
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you make an 83(b) election, you must pay tax withholding based on the fair market value of the shares on the date of the Award and you agree that you will remit payment to the Company or your
Employer equal to any Tax-Related Items (as defined below and as determined by the Company or your Employer) in the form of a check made payable to State Street within the time limits prescribed by applicable law. If these shares are subsequently
forfeited, the taxes paid are forfeited, and you may not claim a loss with respect to the income recognized or on the shares forfeited. 

  

	 	(b)	Regardless of any action the Company or the Subsidiary that employs you (the “Employer”) takes with respect to any or all income tax (including U.S. federal,
state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account of other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by
you is and remains your responsibility. All Tax-Related Items related to the Award and to any Stock delivered in payment thereof are your sole responsibility. 


 

	 	(c)	In the event the withholding requirements are not satisfied through the withholding of shares of Stock or through your salary or other amounts payable to you, no shares
of Stock will be issued upon vesting of the Award unless and until satisfactory arrangements (as determined by the Company or Employer) have been made by you with respect to the payment of any Tax-Related Items which the Company and your Employer
determines, in its sole discretion, must be withheld or collected with respect to such Award. 

  

	 	(d)	For purposes of the foregoing, you agree that the Company and your Employer may determine the amount of any Tax-Related Items due with respect to your Award by
reference to the maximum applicable rates, without prejudice to any right which you may have to recover any overpayment from the relevant tax authorities. 

  


	 	(e)	By accepting the grant of this Award, you expressly consent to the withholding of shares of Stock and/or cash as provided for hereunder. 


 

	11.	Electronic Acceptance. By your accepting this Agreement electronically, you will be deemed to have acknowledged and agreed that you are bound by the terms of
this Agreement and the Plan, and it shall be deemed to have been accepted by the Company. 

  

	12.	Miscellaneous 

  

	 	a)	The grant of awards under the Plan is a one-time benefit and does not create any contractual or other right to receive an award or benefits in lieu of an award in the
future. 

  

	 	b)	The Company reserves the right to impose other requirements on the Award, any shares of Stock acquired pursuant to the Award, and your participation in the Plan, to the
extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the administration of the Plan. Such requirements may include (but are not limited to)
requiring you to sign any agreements or undertakings that may be necessary to accomplish the foregoing. 

  

	 	c)	Your participation in the Plan is voluntary. The value of the your Award under the Plan is an extraordinary item of compensation and this Award is not part of the your
normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments. 


 
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	 	d)	The Company may, in its sole discretion, decide to deliver any documents related to the Award granted under the Plan by electronic means. You hereby consent to receive
such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company, Morgan Stanley Smith Barney or another third party designated by the Company.


  

	 	e)	By accepting this Award electronically, you will be deemed to have acknowledged and agreed that you are bound by the terms of this Agreement and the Plan, and it shall
be deemed to have been accepted by the Company. 

  

	 	f)	You acknowledge and agree that it is your express intent that this Agreement, the Plan and all other documents, notices and legal proceedings entered into, given or
instituted pursuant to the Award, be drawn up in English. If you have received the Agreement, the Plan or any other documents related to the Award translated into a language other than English, and if the meaning of the translated version is
different than the English version, the English version will control. 

  

	 	g)	Notwithstanding any provisions of this Agreement to the contrary, the Award shall be subject to any special terms and conditions for your country of residence (and
country of employment, if different), as are set forth in the applicable Addendum to the Agreement. Further, if you transfer residence and/or employment to another country reflected in an Addendum to the Agreement, the special terms and conditions
for such country will apply to you to the extent the Company determines, in its sole discretion, that the application of such terms are necessary or advisable in order to comply with local law or to facilitate administration of the Plan. Any
applicable Addendum shall constitute part of the Agreement. 

  

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 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 

SSgA 2010 Performance-Based Equity Award Agreement 

Subject to your acceptance of the terms set forth in this agreement (the “Agreement”), State Street Global Advisors business unit of State
Street Corporation (“SSgA”), has awarded you a Performance Award, granted to you under the SSgA 2010 Performance-Based Equity Program under the Company’s 2006 Equity Incentive Plan, as amended (the “Plan”), which shall be
payable if certain performance and other conditions are satisfied as described below. A copy of the Plan document and the Company’s U.S. Prospectus are located on this website for your reference. The provisions of the Plan are incorporated
herein by reference, and all terms used herein shall have the meaning given to them in the Plan, except as otherwise expressly provided herein. In the event of any conflict between the provisions of this Agreement and the provisions of the Plan, the
provisions of the Plan shall control. 
  

	1.	Grant of Performance Award. 

 You
have been granted an award (the “Award”) detailed in your Award information on the website maintained by Morgan Stanley Smith Barney (the “Statement”) and pursuant to SSgA 2010 Performance-Based Equity Program under the Plan and
the terms set forth below. To be entitled to any payment under the Award, you must accept your Award and in so doing agree to comply with the terms and conditions of this Agreement and the Award. All terms and conditions of this Award must have been
satisfied. The Award will be payable based in part on the achievement by SSgA of certain performance measures (described below and in Exhibit I) over the three-year period commencing January 1, 2010 and ending on December 31, 2012 (the
“Performance Period”). The date on which the Performance Period ends (December 31, 2012) is referred to herein as the “Maturity Date.” 
  

	2.	Performance Targets; Administrator Certification. 


Whether your Award will be paid and in what amounts will depend on SSgA’s achievement of the compounded annual growth in its Net Income Before Taxes
(“NIBT”) during the Performance Period and the other terms and conditions as set forth herein. 
 The specific NIBT performance
targets for the Performance Period were established by the Administrator as set forth on Exhibit I attached hereto and made a part hereof. Subject to the other terms and conditions of the Award, payment under this Award will only be made if the
Administrator certifies, following the close of the Performance Period, that the pre-established threshold performance targets have been exceeded on the Maturity Date and then only to the extent of the level of performance so certified as having
been achieved. 
  

	3.	Form of Payment. 

 Any portion of
the Award earned by reason of the Administrator’s certification as described above will be payable in shares of the Company’s common stock (“Stock”) to you (or your beneficiary, in the case of your death) on or before the
March 15 next following the end of the Performance Period. The number of shares of Stock to be paid will be determined by multiplying the number of Units set forth in your Statement, by the Total Funding Percentage. For this purpose,
“Total Funding Percentage” means the funding percentage achieved for the NIBT performance target, for the Performance Period as certified by the Administrator. 
  

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	4.	Non - Transferability, Etc. 

 This
Award shall not be transferable otherwise than by will or the laws of descent and distribution. Any attempt by you (or in the case of your death, your beneficiary) to assign or transfer the Award, either voluntarily or involuntarily, contrary to the
provisions hereof, shall be null and void and without effect and shall render the Award itself null and void. 
  

	5.	Termination of Employment. 


(a) No amount shall be paid in respect of the Award in the event that you cease to be employed by the Company and its Subsidiaries due to
Circumstances of Forfeiture prior to the date the award is paid. If your employment with the Company and its Subsidiaries ceases by reason of: 

(i) Disability, death, or any reason other than for Circumstances of Forfeiture, then you shall be eligible to receive a
pro-rated Award based on the certification under Section 2, taking into account the time between the date the Performance Period begins and the date on which your employment so terminated; or 

(ii) Retirement then you shall be eligible to receive your Award based on the certification under Section 2, without
such pro-rata adjustment, 
 subject to paragraph b, below, and Section 6. Any amount payable pursuant to this paragraph 5 shall be paid in
accordance with paragraph 3. 
 (b) Payment to you of any Award or pro-rated Award after termination of your employment
otherwise than by reason of your death shall be subject to the conditions that until the date on which the Award is paid you 

(i) shall not, without the prior written consent of the Company, (A)(1) solicit, directly or indirectly (other than
through a general solicitation of employment not specifically directed to employees of the Company and its Subsidiaries) the employment of, (2) hire or employ, (3) recruit, or (4) in any way assist another in soliciting or recruiting
the employment of, or (B) induce the termination of the employment of, any person who within the previous 12 months was an officer or principal of the Company or any of its Subsidiaries; and 

(ii) shall not, without the prior written consent of the Company, engage in the Solicitation of Business (as defined
below) from any client on behalf of any person or entity other than the Company and its Subsidiaries. 
 The term “Solicitation of
Business” means the attempt through direct or indirect contact by you or by any other person or entity with your assistance with a client with whom you have had or with whom persons supervised by you have had significant personal contact while
employed by the Company and its Subsidiaries to induce such client to (A) transfer its business from the Company and its Subsidiaries to any other person or entity, (B) cease or curtail its business with the Company and its Subsidiaries,
or (C) divert a business opportunity from the Company and its Subsidiaries to any other person or entity. If you do not comply with the above conditions, you shall forfeit all rights to any and all unpaid or unvested equity awards held by you,
and the Company may seek injunctive relief in addition to, and not in lieu of, any other relief to which it may be entitled. Any determination by the Administrator that you are, or have engaged in any prohibited conduct as described above shall be
conclusive and binding on all persons. Notwithstanding the foregoing, this paragraph 5 (b) shall be inapplicable following a Change of Control or the Administrator’s determination that a Covered Transaction has occurred. 

 
 SSgA Performance-Based Equity Award Agreement 

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 (c) For purposes hereof: 

(i) “Retirement” means your attainment of age 55 and completion of 5 years of service with the Company and its
Subsidiaries. 
 (ii) “Disability” means (A) your inability to engage in any substantially gainful
activity by reason of any medically determinable physical or mental impairment that can be expected to result in your death or can be expected to last for a continuous period of not less than 12 months (an “impairment”) or (B) if you,
as a result of the impairment, receive income replacement benefits for a period of not less than 3 months under a plan of the Company or a Subsidiary. 

(iii) “Circumstances of Forfeiture” means the termination of your employment with the Company and its
Subsidiaries either (A) voluntarily or (B) involuntarily for reasons determined by the Company in its sole and exclusive discretion to constitute “gross misconduct” (including in a situation where you are Retirement eligible).

 (iv) “Covered Transaction” means the sale by the Company of all or substantially all of the assets
of SSgA as determined by the Administrator. 
  

	6.	Non-Disclosure; Non-Competition. 


By signing this Agreement and accepting the Award, you: 

(a) shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating
to SSgA, the Company, any of its Subsidiaries, and their respective businesses and Clients (as defined below), including but not limited to Clients’ identities and any and all information regarding or relating to their business relationship
with SSgA, the Company, or any of its Subsidiaries, which shall have been obtained by you during your employment by SSgA, the Company, or any of its Subsidiaries and which shall not be or become public knowledge (other than by acts by you or your
representatives in violation hereof), and you shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than
the Company and those designated by it. The term “Client(s)” means any person or entity that is a customer or client of SSgA, the Company, or any of its Subsidiaries. 

(b) for and during a period of 18 months following your termination of employment with the Company and all of its Subsidiaries for any
reason (other than death), shall not engage, either directly or indirectly, in any manner or capacity as advisor, principal, agent, partner, officer, director or employee of, or as consultant to Fidelity Investments, The Vanguard Group, Inc.,
Wellington Management Co, LLP, Bank of NY Mellon CP, Goldman Sachs Asset Management LP, BlackRock Inc. (each an “Institution) For purposes of this paragraph 6(b) each Institution shall also include any subsidiary and affiliate of the
Institution, including any successor entity to an Institution, by way of merger, acquisition (either of stock or substantially all of the assets), reorganization, change of name or other similar event occurring subsequent to the date of this Award.
If you do not comply with the above conditions, you shall forfeit all rights to any and all unpaid or unvested equity awards then held by you, and the Corporation may seek injunctive relief in addition to, and not in lieu of, any other relief to
which it may be entitled. Notwithstanding the foregoing, paragraph 6(b) shall be inapplicable following a Change of Control. 

(c) acknowledge that any and all inventions, discoveries, improvements, copyrighted works (including computer programs), trademarks,
processes, systems, and developments that are conceived, discovered or made solely or jointly during the term of your employment at State 

 
 SSgA Performance-Based Equity Award Agreement 

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Street, whether or not patentable or eligible to be copyrighted, (hereinafter “Inventions”) shall be deemed made in the regular course of your employment with State Street and within
the scope of that employment and shall from the date of creation, be owned exclusively by State Street. Furthermore, you hereby assign to State Street, without the necessity of any further consideration, all of your right, title and interest in and
to any invention, in any and all media now known or hereafter developed throughout the universe, and State Street shall be entitled to obtain and hold same in its own name on all applicable patents, registrations, At State Street’s request, you
will reasonably cooperate with State Street to sign any documents necessary to protect and enforce any such rights in State Street. 
  

	7.	Acceleration of Performance Award. 


Notwithstanding anything in this Agreement to the contrary, in the event of a Change of Control or a Covered Transaction occurring prior to the Maturity
Date, you shall be entitled at the time of such Change of Control or covered Transaction to receive a cash payment equal to the adjusted fair market value of a share of the Stock multiplied by the number of Units set forth in your Statement. For
purposes of the preceding sentence, “adjusted fair market value” shall mean the higher of the (i) the highest average of the reported daily high and low prices per share of the Stock during the 60-day period prior to the first date of
actual knowledge by the Board of circumstances that resulted in a Change of Control or covered Transaction, and (ii) if the Change of Control or covered Transaction is the result of a transaction or series of transactions described in paragraph
1 or 2 of the definition of Change of Control in the Plan, the highest price per share of the Stock paid in such transaction series of transactions (which in the case of a transaction described in paragraph 1 of such definition in the Plan shall be
the highest price per share of the Stock as reflected in a Schedule 13D filed by the person having made the acquisition 
  

	8.	Changes in Capitalization or Corporate Structure. 


The Award is subject to adjustment pursuant to Section 7(b) of the Plan in the circumstances therein described. 

 

	9.	Amendments to Performance Units. 


Subject to the specific limitations set forth in the Plan, the Administrator may at any time suspend or terminate any rights or obligations relating to
the Award prior to the Maturity Date without your consent. 
  

	10.	Compliance with Section 162(m). 


The Administrator shall exercise its discretion with respect to this Award in all cases so as to preserve the deductibility of payments under the Award
against disallowance by reason of Section 162(m) of the Code. 
 11. Shareholder Rights. 

You are not entitled to any rights as a Shareholder with respect to any shares of Stock subject to the Award until they are transferred to you. Without
limiting the foregoing, you will have no right to receive dividends or amounts in lieu of dividends with respect to the shares of Stock subject to the Award prior to any shares being transferred to you. 

 

	12.	Withholding. 

 Regardless of any
action the Company or the Subsidiary that employs you (the “Employer”) takes with respect to any or all income tax (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account of
other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due 

 
 SSgA Performance-Based Equity Award Agreement 

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by you is and remains your responsibility. Furthermore, the Company and/or your Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in
connection with any aspect of the Award, including the grant of the Award, the vesting of the Award and the issuance of shares of Stock in settlement, the subsequent sale of any shares of Stock acquired upon vesting and the receipt of any dividends
and/or dividend equivalents; and (b) do not commit to structure the terms of the grant or any aspect of the Award to reduce or eliminate your liability for Tax-Related Items. 

Prior to the delivery of any Stock upon the vesting of the Award, if any taxing jurisdiction requires withholding of Tax-Related Items, the Company may
withhold a sufficient number of whole shares of Stock otherwise issuable upon the vesting of the Award that have an aggregate fair market value sufficient to pay the minimum Tax-Related Items required to be withheld with respect to the Award. The
cash equivalent of the shares of Stock withheld will be used to settle the obligation to withhold the Tax-Related Items (determined in the Company’s reasonable discretion). No fractional shares of Stock will be withheld or issued pursuant to
the issuance of Stock hereunder. Alternatively, the Company and/or your Employer may, in its discretion, withhold any amount necessary to pay the Tax-Related Items from your salary or other amounts payable to you, with no withholding in shares of
Stock. In the event the withholding requirements are not satisfied through the withholding of shares of Stock or through your salary or other amounts payable to you, no shares of Stock will be issued upon vesting of the Award unless and until
satisfactory arrangements (as determined by the Company or Employer) have been made by you with respect to the payment of any Tax-Related Items which the Company and your Employer determines, in its sole discretion, must be withheld or collected
with respect to such Award. By accepting the grant of this Award, you expressly consent to the withholding of shares of Stock and/or cash as provided for hereunder. All other Tax-Related Items related to the Award and any Stock delivered in payment
thereof are your sole responsibility. 
  

	13.	Employee Rights. 

 Nothing in this
Award shall be construed to guarantee you any right of employment with the Company or any Subsidiary or to limit the discretion of any of them to terminate your employment at any time, with or without cause. 

 

	14.	Provisions of the Plan. 

 The
provisions of the Plan are incorporated herein by reference, and all terms not otherwise defined herein shall have the meaning given to them in the Plan. In the event of any conflict between the provisions of this Agreement and the provisions of the
Plan, the provisions of the Plan shall control. You acknowledge that you have received a copy of the Plan and a copy of the U.S. Prospectus for the Plan. 

If the Award and the foregoing terms and conditions are acceptable to you, please sign the enclosed counterpart of this letter and return the same to the
undersigned. By signing this letter, you acknowledge and agree that you are bound by the terms of the Agreement and the Plan. 
  

	15.	Miscellaneous 

 a)
The grant of awards under the Plan is a one-time benefit and does not create any contractual or other right to receive an award or benefits in lieu of an award in the future. 

b) The Company reserves the right to impose other requirements on the Award, any shares of Stock acquired pursuant to the Award, and your
participation in the Plan, to the extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the administration of the Plan. Such requirements may
include (but are not limited to) requiring you to sign any agreements or undertakings that may be necessary to accomplish the foregoing. 
  

SSgA Performance-Based Equity Award Agreement 

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 c) Your participation in the Plan is voluntary. The value of the your Award under the Plan
is an extraordinary item of compensation and this Award is not part of the your normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or
retirement benefits or similar payments. 
 d) The Company may, in its sole discretion, decide to deliver any documents related
to the Award granted under the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company,
Morgan Stanley Smith Barney or another third party designated by the Company. 
 e) By accepting this Award electronically, you
will be deemed to have acknowledged and agreed that you are bound by the terms of this Agreement and the Plan, and it shall be deemed to have been accepted by the Company. 

f) You acknowledge and agree that it is your express intent that this Agreement, the Plan and all other documents, notices and legal
proceedings entered into, given or instituted pursuant to the Award, be drawn up in English. If you have received the Agreement, the Plan or any other documents related to the Award translated into a language other than English, and if the meaning
of the translated version is different than the English version, the English version will control. 
 g) Notwithstanding any
provisions of this Agreement to the contrary, the Award shall be subject to any special terms and conditions for your country of residence (and country of employment, if different), as are set forth in the applicable Addendum to the Agreement.
Further, if you transfer residence and/or employment to another country reflected in an Addendum to the Agreement, the special terms and conditions for such country will apply to you to the extent the Company determines, in its sole discretion, that
the application of such terms are necessary or advisable in order to comply with local law or to facilitate administration of the Plan. Any applicable Addendum shall constitute part of the Agreement. 

 
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 Exhibit I 

Performance Targets 

January 1, 2010 – December 31, 2012 
  

			
	 Compounded Annual Growth Rate of

NIBT for the Performance Period
	 	 Total Funding Percentage

	0.00%	 	0%
		
	5.00%	 	40%
		
	8.75%	 	80%
		
	12.50%	 	100%
		
	16.25%	 	120%
		
	18.75%	 	150%
		
	20.00%	 	160%
		
	25.00%	 	200%

  

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 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 

Deferred Stock Award Agreement 

Subject to your acceptance of the terms set forth in this agreement (the “Agreement”), State Street Corporation (the “Company”) has
awarded you a contingent right to receive the number of shares of Stock (the “Deferred Shares”) (the “Award”) detailed in your Award information on the website maintained by Morgan Stanley Smith Barney (the “Statement”)
and pursuant to the State Street Corporation 2006 Equity Incentive Plan, as amended (the “Plan”) and the terms set forth below. A copy of the Plan document and the Company’s U.S. Prospectus are located on this website for your
reference. The provisions of the Plan are incorporated herein by reference, and all terms used herein shall have the meaning given to them in the Plan, except as otherwise expressly provided herein. In the event of any conflict between the
provisions of this Agreement and the provisions of the Plan, the provisions of the Plan shall control. 
 The terms of your Award, are as
follows: 
  

	1.	Subject to paragraph 3 and this paragraph 1, your right to receive shares of Stock shall vest according to the vesting schedule detailed in your Statement. The term
“vest” as used herein means the lapsing of the restrictions described herein and in the Plan with respect to one or more shares of Stock. To vest in all or any portion of this Award as of any date, you must have been continuously employed
with the Company or any Subsidiary from and after the date hereof and until (and including) the applicable vesting date, except as otherwise provided herein. 


 

	2.	Shares of Stock will be issued and transferred to you only if and when all requirements of this Agreement have been satisfied. Prior to that time you will have no
rights as a shareholder with respect to the Deferred Shares. Without limiting the foregoing, you will have no right to receive dividends or amounts in lieu of dividends with respect to the Deferred Shares and no right to vote the Deferred Shares.
The Company’s obligation to issue and transfer Stock in the future pursuant to the Agreement is an unsecured and unfunded contractual obligation. 

  

					
	3.	  	(a)	  	Except as provided for below, the Award shall vest according to the vesting schedule detailed in your Statement. Upon your becoming vested, the Company will issue and transfer to
you, upon or as soon as practicable following such dates, the number of shares of Stock specified.

  

	 	(b)	In the event you cease to be employed by the Company and its Subsidiaries either (i) voluntarily or (ii) involuntarily for reasons determined by the Company
in its sole and exclusive discretion to constitute “gross misconduct” (including in situations where you are Retirement eligible) (collectively, “Circumstances of Forfeiture”), you will immediately forfeit any and all rights to
receive shares of Stock under this Agreement, less any shares that have previously vested. 

  

	 	(c)	If your employment terminates by reason of Retirement, Disability, death, or for reasons other than for Circumstances of Forfeiture, your unvested right to receive
shares of Stock shall continue to vest in accordance with the vesting schedule detailed in your Statement subject to the restrictions in paragraph (f), below. 


 
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	 	(d)	If you die after your employment has terminated for a reason permitting continued vesting pursuant to subsection 3(c) above, the Award shall become fully vested on the
date of your death. 

  

	 	(e)	If you die while employed by the Company or its Subsidiaries, or in the event that a Change of Control as defined in the Plan occurs while you are employed by the
Company or its Subsidiaries, the Company will promptly issue and deliver to you (or in the event of death, to your beneficiary designated in accordance with the terms of the Plan) any shares under this Award that you had not otherwise had a right to
receive prior to your death or such Change of Control. 

  

	 	(f)	To the extent that your Award continues to vest after your termination of employment (other than by reason of death) pursuant to subsection 3(c) above, your rights to
receive Deferred Shares after your termination of employment shall be subject to the conditions that, until any such Deferred Shares vest, you (i) shall not, without the prior written consent of the Company, (A)(1) solicit, directly or
indirectly (other than through a general solicitation of employment not specifically directed to employees of the Company and its Subsidiaries) the employment of, (2) hire or employ, (3) recruit, or (4) in any way assist another in
soliciting or recruiting the employment of, or (B) induce the termination of the employment of, any person who within the previous 12 months was an officer or principal of the Company or any of its Subsidiaries; and (ii) shall not, without
the prior written consent of the Company, engage in the Solicitation of Business (as defined below) from any client on behalf of any person or entity other than the Company and its Subsidiaries. The term “Solicitation of Business” means
the attempt through direct or indirect contact by you or by any other person or entity with your assistance with a client with whom you have had or with whom persons supervised by you have had significant personal contact while employed by the
Company and its Subsidiaries to induce such client to (A) transfer its business from the Company and its Subsidiaries to any other person or entity, (B) cease or curtail its business with the Company and its Subsidiaries, or
(C) divert a business opportunity from the Company and its Subsidiaries to any other person or entity of the business with which you were actively connected during your employment. If you do not comply with the above conditions, you shall
forfeit any remaining unvested Deferred Shares under this Award. Any determination by the Administrator that you are, or have engaged in any prohibited conduct, as described above, shall be conclusive and binding on all persons. Notwithstanding the
foregoing, this paragraph 3(f) shall become inapplicable following a Change of Control. 

  

	 	(g)	For purposes hereof, 

 i)
“Retirement” means your attainment of age 55 and completion of 5 years of service with the Company and its Subsidiaries, and 

ii) “Disability” means (x) your inability to engage in any substantially gainful activity by reason of any medically
determinable physical or mental impairment that can be expected to result in your death or can be expected to last for a continuous period of not less than 12 months (an “impairment”), or (y) if you, as a result of the impairment,
receive income replacement benefits for a period of not less than 3 months under a State Street plan, or (z) as defined under local law. 
  

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	4.	Regardless of any action the Company or the Subsidiary that employs you (the “Employer”) takes with respect to any or all income tax (including U.S. federal,
state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account of other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by
you is and remains your responsibility. Furthermore, the Company and/or your Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant
of the Award, the vesting of the Award and the issuance of shares of Stock in settlement, the subsequent sale of any shares of Stock acquired upon vesting and the receipt of any dividends and/or dividend equivalents; and (b) do not commit to
structure the terms of the grant or any aspect of the Award to reduce or eliminate your liability for Tax-Related Items. 


Prior to the delivery of the Stock upon the vesting of the Award, if any taxing jurisdiction requires withholding of Tax-Related Items,
the Company may withhold a sufficient number of whole shares of Stock otherwise issuable upon the vesting of the Award that have an aggregate fair market value sufficient to pay the minimum Tax-Related Items required to be withheld with respect to
the Award. The cash equivalent of the shares of Stock withheld will be used to settle the obligation to withhold the Tax-Related Items (determined in the Company’s reasonable discretion). No fractional shares of Stock will be withheld or issued
pursuant to the grant of the Deferred Shares and the issuance of Stock hereunder. Alternatively, the Company and/or your Employer may, in its discretion, withhold any amount necessary to pay the Tax-Related Items from your salary or other amounts
payable to you, with no withholding in shares of Stock. In the event the withholding requirements are not satisfied through the withholding of shares of Stock or through your salary or other amounts payable to you, no shares of Stock will be issued
upon vesting of the Award unless and until satisfactory arrangements (as determined by the Company or Employer) have been made by you with respect to the payment of any Tax-Related Items which the Company and your Employer determines, in its sole
discretion, must be withheld or collected with respect to such Award. By accepting this grant of Deferred Shares, you expressly consent to the withholding of shares of Stock and/or cash as provided for hereunder. All other Tax-Related Items related
to the Award and any Stock delivered in payment thereof are your sole responsibility. 
  

	5.	The number and kind of Deferred Shares subject to this Award, and the number and kind of shares of Stock to be delivered in satisfaction of the Company’s
obligations hereunder, shall be subject to adjustment in accordance with Section 7(b) of the Plan. 

  

	6.	Nothing in this Award shall be construed to guarantee you any right of employment with the Company or any Subsidiary or to limit the discretion of any of them to
terminate your employment at any time, with or without cause. 

  

	7.	This Award shall not be transferable other than by will or the laws of descent and distribution. Any attempt by you (or in the case of your death, by your beneficiary)
to assign or transfer the Award, either voluntarily or involuntarily, contrary to the provisions hereof, shall be null and void and without effect and shall render the Award itself null and void. 


 
 DSA-US 

 

 3 









	8.	The grant of awards under the Plan is a one-time benefit and does not create any contractual or other right to receive an award or benefits in lieu of an award in the
future. 

  

	9.	The Company reserves the right to impose other requirements on the Award, any shares of Stock acquired pursuant to the Award, and your participation in the Plan, to the
extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the administration of the Plan. Such requirements may include (but are not limited to)
requiring you to sign any agreements or undertakings that may be necessary to accomplish the foregoing. 

  

	10.	Your participation in the Plan is voluntary. The value of the your Award under the Plan is an extraordinary item of compensation and this Award is not part of the your
normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments. 


 

	11.	The Company may, in its sole discretion, decide to deliver any documents related to the Award granted under the Plan by electronic means. You hereby consent to receive
such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company, Morgan Stanley Smith Barney or another third party designated by the Company.


  

	12.	By accepting this Award electronically, you will be deemed to have acknowledged and agreed that you are bound by the terms of this Agreement and the Plan, and it shall
be deemed to have been accepted by the Company. 

  

	13.	You acknowledge and agree that it is your express intent that this Agreement, the Plan and all other documents, notices and legal proceedings entered into, given or
instituted pursuant to the Award, be drawn up in English. If you have received the Agreement, the Plan or any other documents related to the Award translated into a language other than English, and if the meaning of the translated version is
different than the English version, the English version will control. 

  

	14.	Notwithstanding any provisions of this Agreement to the contrary, the Award shall be subject to any special terms and conditions for your country of residence (and
country of employment, if different), as are set forth in the applicable Addendum to the Agreement. Further, if you transfer residence and/or employment to another country reflected in an Addendum to the Agreement, the special terms and conditions
for such country will apply to you to the extent the Company determines, in its sole discretion, that the application of such terms are necessary or advisable in order to comply with local law or to facilitate administration of the Plan. Any
applicable Addendum shall constitute part of the Agreement. 

  

DSA-US 
  

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 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 

ESRP Share Award Agreement 

Subject to your acceptance of the terms set forth in this agreement (this “Agreement”), State Street Corporation (the “Company”) has
awarded you (this “ESRP Share Award”) a contingent right to receive the number of shares of Stock (the “Deferred Shares”) detailed in your ESRP Share Award statement (the “Statement”) pursuant to the State Street
Corporation 2006 Equity Incentive Plan (the “Plan”) and the State Street Corporation Executive Supplemental Retirement Plan (the “ESRP”). The Statement, a copy of the Plan document and the Company’s Prospectus are located on
this website, which is maintained by the Plan’s third-party administrator. The provisions of the Plan and the ESRP are incorporated herein by reference, and all terms used herein shall have the meaning given to them in the Plan or the ESRP, as
applicable, except as otherwise expressly provided herein. In the event of any conflict between the provisions of this Agreement and the provisions of the Plan or the ESRP, the provisions of the Plan or the ESRP shall control, as applicable. In the
event of a conflict between the terms of the Plan or the ESRP, the provisions of the ESRP shall control to the extent necessary for Section 409A Compliance, and the provisions of the Plan shall control, to the extent not required for
Section 409A Compliance. 
 The terms of your ESRP Share Award, are as follows: 

 

	1.	General Vesting Requirements. Until such time as you incur a Separation From Service, your right to receive the Deferred Shares shall vest on a cumulative basis
in 1/3 increments beginning on your Vesting Commencement Date and continuing on each of your first two birthdays immediately following your Vesting Commencement Date. Notwithstanding the foregoing, if you were first elected to the position of
Executive Vice President (or to a superior position) prior to March 1, 2000, then your right to receive the Deferred Shares shall vest in full when you attain your Early Retirement Age, provided you do not earlier incur a Separation From
Service. 

  

	2.	Special Vesting Provision for Death or Total Disability. The following special vesting provisions shall apply notwithstanding the general vesting requirements
set forth in Section 1 above: 

  

	 	(a)	If you die prior to your Separation From Service, your right to receive the Deferred Shares shall fully vest as of the date of your death. 


 

	 	(b)	If you become Totally Disabled prior to your Separation From Service, your right to receive the Deferred Shares shall fully vest effective as of the date you become
Totally Disabled. 

  

	3.	 Ownership. The Deferred Shares will be issued and transferred to you only if and when all requirements of this Agreement have been satisfied.
Except as otherwise provided in this Section 3, you will have no rights as a shareholder with respect to the Deferred Shares prior to that time. Without limiting the foregoing, you will have no right to receive dividends with respect to the
Deferred Shares and no right to vote the Deferred Shares. However, if any dividends are paid on the Stock prior to the date you are issued the Deferred Shares, the number of Deferred Shares notionally credited to your account will be increased by
the number of shares obtained by dividing the total dividend you 










	 	
would have received if you had owned the Deferred Shares credited to your account on the dividend declaration date, by the closing price of a share of Stock on the date the dividend was paid.


  

	4.	Distributions. 

  

	 	(a)	Retirement. Upon your Retirement, the Company will issue and transfer to you the number of Deferred Shares in which you have become vested in three equal
installments on the following dates: 

  

	 	(i)	the first Business Day after the date that follows your Retirement Date by six months; 


 

	 	(ii)	the first anniversary of your Retirement Date (or if such date is not a Business Day, the immediately following Business Day); and 


 

	 	(iii)	the second anniversary of your Retirement Date (or if such date is not a Business Day, the immediately following Business Day). 


If you die after your Retirement, but before you have received the total number of shares in which you have become vested, the Company
will issue and transfer to your Beneficiary any remaining vested Deferred Shares within 90 days following the date of your death. 
  

	 	(b)	Death. If you die prior to your Separation From Service, the Company will issue and transfer to your Beneficiary the number of Deferred Shares in which you have
become vested within 90 days following the date of your death. 

  

	 	(c)	Total Disability . If you incur a Total Disability prior to your Separation From Service, the Company will issue and transfer to you the number of Deferred
Shares in which you have become vested by the later of: 

  

	 	(i)	the end of the calendar year in which you become Totally Disabled, and 

  

	 	(ii)	 the
15th day of the third month following the date on which
you become Totally Disabled; 


 provided that you have remain Totally Disabled through the date of
distribution. 
  

	5.	Forfeiture. Your right to receive the Deferred Shares after your Separation From Service shall be subject to the condition that, until any such shares are
transferred to you pursuant to Section 4 above, you shall not, without the prior written consent of the Company, engage, either directly or indirectly, in any of the activities described in Section 5(a), (b) or (c) below within
two years after your Separation From Service. 

  

	 	(a)	Solicitation of the employment or retention of any person whom the Company or an Affiliate has employed or retained during the two year period prior to your Separation
From Service. For purposes of the foregoing sentence, a person retained by the Company or an Affiliate means anyone who has rendered substantial consulting services to the Company or an Affiliate and has thereby acquired material confidential
information concerning any aspect of the Company’s or an Affiliate’s operations; 

  

	 	(b)	 Any sale, offer to sell or negotiation with respect to orders or contracts for any product or service similar to or competitive with a product or
service or any equipment or system containing any such product or service sold or offered by the Company or an Affiliate, other than for the Company’s or a Affiliate’s



  

 2 









	 	
account, during the two year period after your Separation From Service, to or with anyone with whom the Company or an Affiliate has so dealt or anywhere in any state of the United States or in
any other country, territory or possession in which the Company or an Affiliate has, during said period, sold, offered or negotiated with respect to orders or contracts for any such product, service, equipment or system; or 


 

	 	(c)	Ownership of any direct or indirect interest (other than a less-than-one-percent stock interest in a corporation) in, or affiliation with, or rendering any services
for, any person or business entity which engages, during the two year period after your Separation From Service, either directly or indirectly, in any of the activities described in paragraphs (a) or (b) above. 


 

	6.	Certain Tax Considerations. 

  

	 	(a)	This Agreement and the ESRP Share Award are intended to comply with Section 409A and shall be construed and administered accordingly. 


 

	 	(b)	You expressly acknowledge that the vesting of your right to receive the Deferred Shares, and/or the distribution of the Deferred Shares, hereunder may give rise to
ordinary income or wages subject to withholding through your local payroll. You expressly acknowledge and agree that your rights hereunder are subject to your paying to the Company any applicable taxes required to be withheld in connection with such
vesting in a form and manner satisfactory to the Company. 

  

	 	(c)	The Company shall be obligated to issue the Deferred Shares pursuant to this Agreement only if you first deliver to the Company funds sufficient to satisfy, or make
other arrangements acceptable to the Company for satisfying, any tax withholding or similar withholding obligations to which the Company or its Affiliates may be subject by reason of such transfer of this ESRP Share Award. 


 

	 	(d)	Notwithstanding anything in the Plan or the ESRP to the contrary, the Company shall not have the discretionary authority to delay distribution of the Deferred Shares,
except to the extent that the Company determines, in its discretion, that any such delay can be effected in a manner that results in Section 409A Compliance. Without limiting the generality of the foregoing, distribution of the Deferred Shares
may be delayed, at the discretion of the Company, to the extent that the Company reasonably anticipates that (i) if distribution were made as scheduled, the Company’s deduction with respect to such distribution would not be permitted due
to the application of Section 162(m) of the Code or (ii) distribution of the Deferred Shares would violate federal securities laws or other applicable law. Distribution of any amount delayed pursuant to this Section 6(d) shall earn
interest at the then prevailing applicable federal rate provided for in Section 7872(f)(2)(A) of the Code and made in a manner that results in Section 409A Compliance. 


 

	 	(e)	Notwithstanding anything in the Plan or the ESRP to the contrary, the Company shall not have the discretionary authority to accelerate distribution of the Deferred
Shares except as set forth in the remainder of this Section 6(e) or to the extent the Company determines, in its discretion, that any such acceleration may be effected in a manner that results in Section 409A Compliance.


  

	 	(i)	 The Company may, in a manner that results in Section 409A Compliance, determine to accelerate the time or schedule of the



  

 3 









	 	
distribution of the Deferred Shares to pay (A) the FICA Amount and/or (B) the income tax at source on wages imposed under Section 3401 of the Code or the corresponding withholding
provisions of applicable state, local or foreign tax laws as a result of the payment of the FICA Amount (and any additional tax due as a result of such payment). The total amount accelerated under this Section 6(e) may not exceed the aggregate
of the FICA Amount and the income tax withholding related to such FICA Amount. 

  

	 	(ii)	The Company may, in a manner that results in Section 409A Compliance, determine to accelerate the time or schedule of the distribution of the Deferred Shares if at
any time the Plan or the ESRP, as applicable to you, fails to meet the requirements of Section 409A of the Code and the corresponding Treasury Regulations. Such amount may not exceed the amount required to be included in income as a result of
the failure to comply with Section 409A of the Code and the corresponding Treasury Regulations. 

  

	 	(f)	Notwithstanding anything to the contrary in the Plan or the ESRP, in the event you incur a Separation From Service, including due to Total Disability, and are
subsequently rehired by the Company or subsequently recover and recommence performing services for the Company, the distribution of your Deferred Shares shall not be suspended or otherwise delayed. 


 

	 	(g)	In no event may you or any of your Beneficiaries designate the taxable year of distribution of the Deferred Shares. 


 

	7.	Miscellaneous Provisions. 

  

	 	(a)	The Company’s obligation to issue and transfer the Deferred Shares in the future pursuant to this Agreement is an unsecured and unfunded contractual obligation.


  

	 	(b)	The number and kind of Deferred Shares subject to this ESRP Share Award, and the number and kind of shares of Stock to be delivered in satisfaction of the
Company’s obligations hereunder, shall be subject to adjustment in accordance with Section 7(b) of the Plan. 

  

	 	(c)	Nothing in this ESRP Share Award shall be construed to guarantee you any right of employment with the Company or any Affiliate or to limit the discretion of any of them
to terminate your employment at any time, with or without cause. 

  

	 	(d)	This ESRP Share Award shall not be transferable other than by will or the laws of descent and distribution. Any attempt by you (or in the case of your death, by your
Beneficiary) to assign or transfer the ESRP Share Award, either voluntarily or involuntarily, contrary to the provisions hereof, shall be null and void and without effect and shall render the ESRP Share Award itself null and void.


  

	 	(e)	By accepting this ESRP Share Award electronically, you will be deemed to have acknowledged and agreed that you are bound by the terms of this Agreement, the Plan and
the ESRP. This Agreement will take effect as a sealed instrument. 

  

	 	(f)	The terms of this Agreement are governed by the laws of the Commonwealth of Massachusetts. 


 

 4 









	8.	Definitions 

  

	 	(a)	“Affiliate” means any corporation which is included in a controlled group of corporations (within the meaning of Section 414(b) of the Code), which
includes the Company and any trade or business (whether or not incorporated) which is under common control with the Company (within the meaning of Section 414(c) of the Code). 


 

	 	(b)	“Beneficiary” means the beneficiary designated to receive a death benefit by you in writing in a form and manner satisfactory to the Administrator. If no
Beneficiary is so designated, any death benefits shall be paid at the Administrator’s direction in the following order of priority: Spouse, Domestic Partner, children, parents, siblings, estate. 


 

	 	(c)	“Business Day” means each day that the New York Stock Exchange is open for business. 


 

	 	(d)	“Cause” means: 

  

	 	(i)	a willful and continued failure to perform substantially your duties with the Company or an Affiliate (other than any such failure resulting from incapacity due to
physical or mental illness), after a written demand for substantial performance is delivered to you by your supervisor which specifically identifies the manner in which it is asserted that you have not substantially performed your duties, or


  

	 	(ii)	a willful engaging in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Company or an Affiliate. 


For purposes of this definition, no act or failure to act shall be considered “willful” unless it is done or omitted to be done
in bad faith or without reasonable belief that the action or omission was in the best interests of the Company or an Affiliate. 
  

	 	(e)	“Code” means the Internal Revenue Code of 1986, as the same may be amended from time to time. 


 

	 	(f)	“Early Retirement” means a Separation From Service upon or after your attainment of Early Retirement Age and prior to your attainment of Normal Retirement Age
but excluding a Separation From Service for Cause. 

  

	 	(g)	“Early Retirement Age” means age 53. 

  

	 	(h)	“ESRP” means this State Street Corporation Executive Supplemental Retirement Plan (including the Exhibits and Schedules thereto and the Committee actions
referenced therein), as the same may be amended from time to time in accordance with the terms hereof. 

  

	 	(i)	“FICA Amount” shall mean the amount of Federal Insurance Contributions Act tax imposed under Sections 3101, 3121(a) and 3121(v)(2) of the Code, where
applicable, on this ESRP Share Award. 

  

	 	(j)	“Impairment” means any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than six months. 

  

	 	(k)	“Normal Retirement” means your Separation From Service upon or after your Normal Retirement Age, other than a Separation From Service for Cause.


  

 5 









	 	(l)	“Retirement” means Normal Retirement or Early Retirement. 

  

	 	(m)	“Retirement Date” means the date of your Normal Retirement or Early Retirement, as applicable. 


 

	 	(n)	“Section 409A” means Section 409A of the Code and the applicable rulings, regulations and guidance promulgated thereunder, as each may be amended or
issued from time to time. 

  

	 	(o)	“Section 409A Compliance” means any action or inaction effected in a manner that will not cause you or any of your Beneficiaries to recognize income for U.S.
federal income tax purposes prior to the time of a distribution of the Deferred Shares or to incur interest or additional tax under Section 409A. 

  

	 	(p)	“Separation From Service” means a separation from service with the Company and all Affiliates for purposes of Section 409A within the meaning of the
default rules of Treasury Regulation Section 1.409A-(h)(1) and correlative terms shall be construed to have a corresponding meaning; provided that in the event that you are absent from work due to an Impairment, other than a Total
Disability, where such Impairment causes you to be unable to perform the duties of your position or any substantially similar position of employment, you shall incur a Separation From Service 29 months after the date on which you were first
Impaired. Notwithstanding the foregoing, if you would otherwise incur a Separation From Service in connection with a sale of assets of the Company, the Committee shall retain the discretion to determine whether a Separation From Service has occurred
in accordance with Treasury Regulation Section 1.409A-1(h)(4). 

  

	 	(q)	“Service” means your years (and fraction thereof) of service for vesting and eligibility, as determined under the terms of the State Street Retirement Plan as
in effect on January 1, 2008. 

  

	 	(r)	“Total Disability” or “Totally Disabled” means (i) your inability to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve months or (ii) a your receipt, by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve months, of income replacement benefits for a period of not less than six months under an accident and health plan
covering employees of the Company and any Affiliate. 

  

	 	(s)	“Treasury Regulations” means the regulations adopted by the Internal Revenue Service under the Code, as they may be amended from time to time.


  

	 	(t)	“Vesting Commencement Date” means the date you: 

  

	 	(i)	attain Early Retirement Age; and 

  

	 	(ii)	satisfy the rule of 60 under Section 3.3 of the ESRP (i.e., your age plus completed years of Service must equal at least 60). 


 

 6