<PAGE>

                                                                   EXHIBIT 10(c)

                                  AMENDMENT TO
                              EMPLOYMENT AGREEMENT
                              --------------------

                  The Employment Agreement by and between FLEET FINANCIAL GROUP,
INC., a Rhode Island corporation (the "Company"), and HENRIQUE DE CAMPOS
MEIRELLES (the "Executive"), dated as of March 14, 1999 (the "Agreement") is
hereby amended, effective as of March 14, 2000, as set forth below.

         1.       Section 5(a)(i)(A) of the Agreement is hereby restated in its
                  entirety to read as follows:

                  (A) the "Severance Payments" as defined in Section 6.1 of the
                  Prior Agreement (including without limitation payment to the
                  Executive on account of the items described in paragraph (C)
                  of such Section 6.1), representing the amounts and benefits to
                  which the Executive would have been entitled under the Prior
                  Agreement, as determined by the Auditor (as defined in Section
                  5(d)) no later than 30 days after the execution of this
                  Agreement, plus interest from the Effective Date to the date
                  of the payment of such Severance Payments (the "Interest
                  Term"), at an annual rate equal to the "prime" rate as in
                  effect from time to time (subject to the limitation that the
                  average interest rate used during the Interest Term shall in
                  no event exceed 10%), compounded daily (the "New Severance
                  Payment"), provided that, notwithstanding the foregoing, if
                  the Executive's employment is terminated other than by the
                  Company without Cause or by the Executive for Good Reason
                  prior to the second anniversary of the Effective Date, the
                  Executive shall not be entitled to receive the New Severance
                  Payment and shall instead be entitled to receive the Severance
                  Payments as defined in Section 6.1 of the Prior Agreement
                  without interest thereon and, provided, further that the
                  Executive may elect to reduce the Severance Payments by the
                  amount described in paragraph (B) of Section 6.1 of the Prior
                  Agreement and, in lieu thereof, receive for a period of three
                  years following the Date of Termination the continuation of
                  the benefits described in Section 3(f)(ii); and

         2.       Section 5(b) of the Agreement is hereby amended by adding the
                  following sentence at the end thereof.

                  Notwithstanding anything contained in this Agreement to the
                  contrary, if the Executive voluntarily terminates employment,
                  other than for Good Reason, prior to the second anniversary of
                  the Effective Date, the Executive shall not be entitled to
                  receive the New Severance Payment and shall instead be
                  entitled to receive the Severance Payments as defined in
                  Section 6.1 of the Prior Agreement without interest thereon.

                  IN WITNESS WHEREOF, the Executive and the Company have caused
this Amendment to the Agreement to be entered into, as of the day and year set
forth above.

                      /s/ HENRIQUE DE CAMPOS MEIRELLES
                      --------------------------------
                      HENRIQUE DE CAMPOS MEIRELLES


                      FLEET BOSTON CORPORATION


                      By:  /s/ EUGENE M. MCQUADE
                           ---------------------------
                           Title: VICE CHAIRMAN AND CHIEF FINANCIAL OFFICER
                                  -----------------------------------------


<PAGE>





                       [FleetBoston Financial Letterhead]




                                                       March 6, 2000

Henrique de Campos Meirelles
President of Global Banking and Financial Services
Fleet Boston Corporation
One Federal Street
Boston, Massachusetts  02110

Dear Henrique:

                  This letter is to confirm our understanding that, in the event
of a termination of your employment with Fleet Boston Corporation prior to the
second anniversary of the Effective Date (as defined in Section 1 of the
Employment Agreement between you and Fleet Boston Corporation (formerly Fleet
Financial Group, Inc.), dated March 14, 1999, as amended (the "Employment
Agreement")) due to your death or Disability (as defined in Section 4(a) of the
Employment Agreement) that entitles you to receive the payments set forth in
Section 5(a)(i) of the Employment Agreement, you, or in the event of your death
your legal representative, will be entitled to receive the New Severance Payment
(as defined in Section 5(a)(i)(A) of the Employment Agreement), notwithstanding
anything to the contrary contained in Section 5(a)(i)(A) of the Employment
Agreement.

                  As acknowledgement of this understanding, please return a
signed copy of this letter to Jannene Wagner.

                              Sincerely,

                              /s/ EUGENE M. MCQUADE

                              Eugene M. McQuade


Acknowledged and Agreed:

/s/ HENRIQUE DE CAMPOS MEIRELLES    Dated:  March 14, 2000
--------------------------------