Document:

Agreement dated January 31, 2008

 Exhibit 10.1 
 CONFIDENTIAL TREATMENT REQUESTED 
 Terms for which confidential treatment has been requested have been omitted, marked with
asterisks (***) and filed separately with the Securities and Exchange Commission. 
  

					
		 	Reference Number: [    ]	  	Account Number: [    ]

  

					
	

	  		  	MORGAN STANLEY & CO. INCORPORATED
		  		  	1585 BROADWAY
		  		  	NEW YORK, NY 10036-8293
		  		  	(212) 761-4000
		  		  	January 31, 2008

 Fixed Dollar Accelerated Share Repurchase Transaction 
 Unum Group 
 1 Fountain Square 
 Chattanooga, TN 37402 
 Dear Sir/Madam: 
 The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the Transaction entered into between Morgan
Stanley & Co. Incorporated (“MSCO”) and Unum Group (the “Issuer”) on the Trade Date specified below (the “Transaction”). This confirmation constitutes a “Confirmation” as referred to in the ISDA
Master Agreement specified below. 
 The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (as published by the
International Swaps and Derivatives Association, Inc. (“ISDA”)) (the “Equity Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between the Equity Definitions and this Confirmation, this
Confirmation will govern. Any reference to a currency shall have the meaning contained in Annex A to the 1998 ISDA FX and Currency Option Definitions, as published by ISDA. 
 1. This Confirmation evidences a complete and binding agreement between MSCO and Issuer as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the
“Agreement”) in the form of the 2002 ISDA Master Agreement (the “ISDA Form”) as if MSCO and Issuer had executed an agreement in such form without any Schedule. For the avoidance of doubt, the Transaction shall be
the only transaction under the Agreement. 
 2. The terms of the particular Transaction to which this Confirmation relates are as follows: 
 GENERAL TERMS: 
  

			
	Trade Date:	  	As specified in Schedule I
		
	Buyer:	  	Issuer
		
	Seller:	  	MSCO
		
	Shares:	  	Common Stock of Issuer (Ticker: UNM)
		
	Number of Shares:	  	The number of Shares delivered in accordance with Physical Settlement below.
		
	Forward Price:	  	A price per Share (as determined by the Calculation Agent) equal to (i) the sum of the 10b-18 VWAP for each Trading Day during the Calculation Period divided by (ii) the number of Trading Days
in the Calculation Period minus (iii) the Discount (as specified in Schedule I)

			
	10b-18 VWAP:	  	For each Trading Day during the Calculation Period, a price per share (as determined by the Calculation Agent) equal to the volume-weighted average price of the Rule 10b-18 eligible trades in
the Shares for the entirety of such Trading Day as determined by reference to the screen entitled “UNM.N <Equity> AQR SEC” or any successor page as reported by Bloomberg L.P. (without regard to pre-open or after hours trading outside
of any regular trading session for such Trading Day or block trades (as defined in Rule 10b-18(b)(5) of the Securities Exchange Act of 1934 as amended (the “Exchange Act”)) on such Trading Day).
		
	Calculation Period:	  	The period from and including the Prepayment Date to but excluding the relevant Valuation Date.
		
	Trading Day:	  	Any Exchange Business Day that is not a Disrupted Day or an Excluded Day (as defined below)
		
	Initial Shares:	  	As specified in Schedule I
		
	Initial Share Delivery Date:	  	The Trade Date. On the Initial Share Delivery Date, Seller shall deliver a number of Shares equal to the Initial Shares to Buyer in accordance with Section 9.4 of the Equity Definitions, with
the Initial Share Delivery Date deemed to be a “Settlement Date” for purposes of such Section 9.4.
		
	Prepayment:	  	Applicable
		
	Prepayment Amount:	  	As specified in Schedule I
		
	Commission Amount:	  	As specified in Schedule I
		
	Adjustment Amount:	  	As specified in Schedule I
		
	Structuring Fee:	  	As specified in Schedule I
		
	Prepayment Date:	  	The Trade Date. On the Prepayment Date, Buyer shall pay to Seller the Prepayment Amount, the Commission Amount, the Adjustment Amount and the Structuring Fee.
		
	Exchange:	  	New York Stock Exchange
		
	Related Exchange:	  	The primary exchange on which options or futures on the relevant Shares are traded.
		
	Market Disruption Event:	  	The definition of “Market Disruption Event” in Section 6.3(a) of the Equity Definitions is hereby amended by inserting the words “at any time on any Scheduled Trading Day during
the Calculation Period or” after the word “material,” in the third line thereof.

  

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	 	  	Notwithstanding anything to the contrary in the Equity Definitions, if any Scheduled Trading
Day in the Calculation Period is a Disrupted Day, the Calculation Agent shall have the
option
in its sole discretion either (i) to determine the weighting of each Rule 10b-18 eligible
transaction in the Shares on the relevant Disrupted Day using its commercially reasonable
judgment for purposes of calculating the Forward
Price, as applicable, (ii) to elect to extend
the Calculation Period by a number of Scheduled Trading Days equal to the number of
Disrupted Days during the Calculation Period or (iii) to suspend the Calculation Period, as
appropriate, until
the circumstances giving rise to such suspension have ceased. For the
avoidance of doubt, if Calculation Agent elects the option described in clause (i) above, then
such Disrupted Day shall be deemed to be a Trading Day for purposes of
calculating the
Forward Price.
		
	Excluded Days:	  	Any Scheduled Trading Day that is notified by Buyer to Seller by no later than 9:00a.m. on that day to be an Excluded Day; provided, however, that (i) Buyer may not declare more than three
Excluded Days during the term of this Transaction and (ii) any such Excluded Day declared by Buyer shall be a Disrupted Day. On any Excluded Day declared by Buyer pursuant to the previous sentence, Buyer shall be deemed to make the representations
and warranties contained in Section 12(a)(i) below.
		
	VALUATION:	  	
		
	Valuation Time:	  	The Scheduled Closing Time on the relevant Exchange
		
	Valuation Date:	  	 The earlier of (i) The Scheduled Valuation Date (as specified in Schedule I) and (ii) any date after the Lock-Out Date (as specified in Schedule
I) specified by MSCO to Issuer by 9:00pm EST on such date as a Valuation Date, in each case, subject to extension in accordance with “Market Disruption Event” above or Section 9 or Section 10 below; provided, however, that if a Valuation
Date occurs pursuant to clause (ii) above, then (A) the Calculation Period for this Transaction (or portion thereof) shall be deemed to end as of the Trading Day immediately preceding the relevant Valuation Date and (B) MSCO shall have the right to
specify a Valuation Date with respect to any portion of this Transaction as it selects (any such Valuation Date on a portion of this Transaction for less than the full Prepayment Amount, a “Partial Acceleration Date”); provided, however,
that MSCO can elect no more than three Partial Acceleration Dates during the term of this Transaction.
  
 In the case of a Partial Acceleration Date, MSCO shall specify in its notice to Issuer designating a Valuation Date in connection with a Partial Acceleration Date the percentage of the Prepayment Amount that is
subject to such Valuation Date and Calculation Agent shall adjust all terms of this

  

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	 	  	Transaction as it deems reasonable in order to take into account the occurrence of any Partial
Acceleration Date (including cumulative adjustments to take into account all
Partial
Acceleration Dates that occur during the term of this Transaction).
		
		  	On each Valuation Date, Calculation Agent shall calculate the Settlement Amount.
		
	SETTLEMENT TERMS:	  	
		
	Physical Settlement:	  	 Applicable.
  
 On the Settlement Date, Seller shall deliver to Buyer a number of Shares equal to (a) (i) the Prepayment Amount divided by (ii) the Forward Price as determined on each Valuation Date, minus (b) the
Initial Shares (such number of Shares, the “Settlement Amount”), rounded to the nearest whole number of Shares; provided, however, that if the Settlement Amount is less than zero, then Buyer shall deliver to Seller a number of Shares equal
to 103% of the absolute value of the Settlement Amount (such number of Shares, the “Payment Shares”).
  
 Notwithstanding the proviso above, if the Settlement Amount is less than zero, Buyer may cash settle its obligation to deliver the Payment Shares by delivering to Seller a notice by no later than each Valuation Date
electing to cash settle its obligation to deliver the Payment Shares. Any such cash settlement shall be effected in accordance with “Cash Settlement of Payment Shares” below.
  
 For the avoidance of doubt, upon the date that (i) Buyer satisfies its obligation to deliver the
Payment Shares to Seller in accordance with the terms of this paragraph or (ii) the Settlement Balance (as defined below) is reduced to zero in connection with cash settlement of Buyer’s obligation to deliver Payment Shares (as described under
“Cash Settlement of Payment Shares” below), then Buyer shall have no further delivery or payment obligations under the terms of this Transaction and this Transaction shall be deemed to have been settled as of such
date.

		
	Settlement Currency:	  	USD
		
	Settlement Date:	  	Three Exchange Business Days after each Valuation Date, or if such date is not a Clearance System Business Day or if there is a Settlement Disruption Event on such day, the immediately
succeeding Clearance System Business Day on which there is no Settlement Disruption Event.

  

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	Cash Settlement of Payment Shares:	  	If Buyer elects to cash settle its obligation to deliver Payment Shares, then on each Valuation Date a balance (the “Settlement Balance”) shall be created with an initial balance
equal to the absolute value of the Settlement Amount. On the Settlement Date, Buyer shall deliver to Seller a U.S. dollar amount equal to the Payment Shares multiplied by a price per Share as reasonably determined by the Calculation Agent (such cash
amount, the “Initial Cash Settlement Amount”). On the Exchange Business Day immediately following the delivery of the Initial Cash Settlement Amount, Seller shall begin purchasing Shares in a commercially reasonable manner (all such Shares
purchased, “Cash Settlement Shares”). At the end of each Exchange Business Day on which Seller purchases Cash Settlement Shares, Seller shall reduce (i) the Settlement Balance by the number of Cash Settlement Shares purchased on such
Exchange Business Day and (ii) the Initial Cash Settlement Amount by the aggregate purchase price (including commissions) of the Cash Settlement Shares on such Exchange Business Day. If, on any Exchange Business Day, the Initial Cash Settlement
Amount is reduced to or below zero but the Settlement Balance is above zero, the Buyer shall (i) deliver to Seller or as directed by Seller on the next Exchange Business Day after such Exchange Business Day an additional U.S. dollar amount (an
“Additional Cash Settlement Amount”) equal to the Settlement Balance as of such Exchange Business Day multiplied by a price per Share as reasonably determined by the Calculation Agent. This provision shall be applied successively
until the Settlement Balance is reduced to zero. On the Exchange Business Day that the Settlement Balance is reduced to zero, Seller shall return to Buyer any unused portion of the Initial Cash Settlement Amount or the Additional Cash Settlement
Amount, as the case may be. For the avoidance of doubt, any purchases of Cash Settlement Shares contemplated by this paragraph shall be subject to Seller’s covenants in Section 11(b).
		
	Share Adjustments:	  	
		
	Potential Adjustment Event:	  	Notwithstanding anything to the contrary in Section 11.2(e) of the Equity Definitions, an Extraordinary Dividend shall not constitute a Potential Adjustment Event
		
	Extraordinary Dividend:	  	For any fiscal quarter occurring (in whole or in part) during the period from and including the first day of the Calculation Period to and including the Termination Date, any dividend or
distribution on the Shares with an ex-dividend date occurring during such fiscal quarter (other than any dividend or distribution of the type described in Section 11.2(e)(i) or Section 11.2(e)(ii)(A) or (B) of the Equity Definitions) (a
“Dividend”) that is either (i) a non-regularly scheduled Dividend or (ii) the amount or value of which (as determined by the Calculation Agent) exceeds the Ordinary Dividend Amount.

  

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	Ordinary Dividend Amount:	  	For any calendar quarter, USD 0.075
		
	Method of Adjustment:	  	Calculation Agent Adjustment; provided that if Seller suspends trading in the Shares for all or any portion of a Trading Day within the Calculation Period, the suspension shall be
treated as a Potential Adjustment Event subject to Calculation Agent Adjustment. In the case of a suspension pursuant to Section 10, the Calculation Agent shall make such adjustments prior to the period of suspension, if it is practical to do so.
Otherwise, and in all cases of a suspension as contemplated under “Market Disruption Event” above, the Calculation Agent shall make such adjustments promptly following the period of suspension.
		
	EXTRAORDINARY EVENTS:	  	
		
	Consequences of Merger Events:	  	
		
	Share-for-Share:	  	Modified Calculation Agent Adjustment
		
	Share-for-Other:	  	Cancellation and Payment on that portion of the Other Consideration that consists of cash; Modified Calculation Agent Adjustment on the remainder of the Other Consideration
		
	Share-for-Combined:	  	Modified Calculation Agent Adjustment
		
	Tender Offer:	  	Applicable
		
	Consequences of Tender Offers:	  	
		
	Share-for-Share:	  	Modified Calculation Agent Adjustment
		
	Share-for-Other:	  	Modified Calculation Agent Adjustment
		
	Share-for-Combined:	  	Modified Calculation Agent Adjustment
	
	For purposes of this Transaction, the definition of Merger Date in Section 12.1(c) shall be amended to read, “Merger Date shall mean the Announcement Date.” For
purposes of this Transaction, the definition of Tender Offer Date in Section 12.1(e) shall be amended to read, “Tender Offer Date shall mean the Announcement Date.”
		
	Composition of Combined Consideration:	  	Applicable
		
	Nationalization, Insolvency or Delisting:	  	Cancellation and Payment
		
	Additional Disruption Events:	  	
		
	Change in Law:	  	Applicable
		
	Failure to Deliver:	  	Applicable

  

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	Insolvency Filing:	  	Applicable
		
	Hedging Disruption:	  	Applicable
		
	Increased Cost of Hedging:	  	Applicable
		
	 Loss of Stock Borrow:
 Maximum Stock Loan
Rate:
	  	 Applicable
 100bps

		
	 Increased Cost of Stock Borrow:
 Initial Stock Loan Rate:

	  	 Applicable
 25bps

		
	Determining Party:	  	For all Extraordinary Events, MSCO
		
	Hedging Party:	  	For all Additional Disruption Events, MSCO
		
	Non-Reliance:	  	Applicable
	
	AGREEMENTS AND ACKNOWLEDGMENTS:
		
	Regarding Hedging Activities:	  	Applicable
		
	Additional Acknowledgments:	  	Applicable
		
	3. Calculation Agent:	  	MSCO
		
	4. Account Details:	  	To be provided.

 5. (a) Nationalization or Insolvency. The words “the Transaction will be cancelled,” in the first
line of Section 12.6(c)(ii) are replaced with the words “MSCO will have the right to cancel this Transaction,”. 
 (b)
Additional Termination Event. The declaration of any Extraordinary Dividend by Issuer during the period from and including the Trade Date to but excluding the final Valuation Date shall constitute an Additional Termination Event with this
Transaction as the only “Affected Transaction” and Issuer as the sole “Affected Party”. 
 (c) For the avoidance of
doubt, this Transaction shall be deemed to be a “Forward Transaction” for purposes of the Equity Definitions; provided, however, that in Section 9.2(a)(iii) of the Equity Definitions the words “the Excess Dividend
Amount, if any, and” shall be deleted. 
 6. Certain Payments and Deliveries by MSCO. Notwithstanding anything to the contrary herein, or in the Equity
Definitions, if at any time (i) an Early Termination Date occurs and MSCO would be required to make a payment pursuant to Sections 6(d) and 6(e) of the Agreement, (ii) a Tender Offer occurs and MSCO would be required to make a payment
pursuant to Sections 12.3 and 12.7 of the Equity Definitions, (iii) a Merger Event occurs and MSCO would be required to make a payment pursuant to Sections 12.2 and 12.7 of the Equity Definitions or (iv) an Additional Disruption Event
occurs and MSCO would be required to make a payment pursuant to Sections 12.8 and 12.9 of the Equity Definitions, then Issuer shall have the option to require MSCO to make such payment in cash or to settle such payment amount in Shares (any such
payment described in Sections 6(i), (ii), (iii), or (iv) above, an “MSCO Payment Amount”). If Issuer elects for MSCO to settle an MSCO Payment Amount in Shares, then on the date such MSCO Payment Amount is due, a Settlement
Balance shall be established with an initial balance equal to the MSCO Payment Amount. On such date, MSCO shall commence purchasing Shares for delivery to Issuer. At the end of each Trading Day on which MSCO purchases Shares pursuant to this
Section 6, MSCO shall reduce the Settlement Balance by the amount paid by 
  

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 MSCO to purchase the Shares purchased on such Trading Day. MSCO shall deliver any Shares purchased on a Trading Day to
Issuer on the third Exchange Business Day following the relevant Trading Day. MSCO shall continue purchasing Shares until the Settlement Balance has been reduced to zero. 
 7. Certain Payments and Deliveries by Issuer. Notwithstanding anything to the contrary herein, or in the Equity Definitions, if at any time (i) an Early Termination Date occurs and Issuer would be required to
make a payment pursuant to Sections 6(d) and 6(e) of the Agreement, (ii) a Tender Offer occurs and Issuer would be required to make a payment pursuant to Sections 12.3 and 12.7 of the Equity Definitions, (iii) a Merger Event occurs and
Issuer would be required to make a payment pursuant to Sections 12.2 and 12.7 of the Equity Definitions or (iv) an Additional Disruption Event occurs and Issuer would be required to make a payment pursuant to Sections 12.8 and 12.9 of the
Equity Definitions (any such payment described in Sections 7(i), (ii), (iii), or (iv) above, an “Early Settlement Payment”), then Issuer shall have the option, in lieu of making such cash payment, to settle its payment
obligations under Sections 7(i), (ii), (iii), or (iv) above in Shares (such Shares, the “Early Settlement Shares”). In order to elect to deliver Early Settlement Shares, (i) Issuer must notify MSCO of its election by no
later than 4 p.m. EST on the date that is three Exchange Business Days before the date that the Early Settlement Payment is due, (ii) must specify whether such Early Settlement Shares are to be sold by means of a registered offering or by means
of a private placement and (iii) the conditions described in Section 8 below must be satisfied on each day Early Settlement Shares are to be sold by Seller in connection with Buyer’s election to deliver Early Settlement Shares in
connection with the settlement of an Early Settlement Payment. 
 8. Conditions to Delivery of Early Settlement Shares. 
 Issuer may only deliver Early Settlement Shares and Make-Whole Shares (as defined below) subject to satisfaction of the following conditions: 
 (a) If Issuer timely elects to deliver Early Settlement Shares and Make-Whole Shares by means of a registered offering, the following provisions shall
apply: 
 (i) On the later of (A) the Trading Day following the Issuer’s election to deliver Early Settlement Shares
and any Make-Whole Shares by means of a registered offering (the “Registration Notice Date”), and (B) the date on which the Registration Statement is declared effective by the SEC or becomes effective (the “Registered
Share Delivery Date”), the Issuer shall deliver to MSCO a number of Early Settlement Shares equal to the quotient of (I) the relevant Early Settlement Payment divided by (II) a price per Share as reasonably determined by the
Calculation Agent. 
 (ii) Promptly following the Registration Notice Date, the Issuer shall file with the SEC a registration
statement (“Registration Statement”) covering the public resale by MSCO of the Early Settlement Shares and any Make-Whole Shares (collectively, the “Registered Securities”) on a continuous or delayed basis pursuant
to Rule 415 (or any similar or successor rule), if available, under the Securities Act; provided that no such filing shall be required pursuant to this paragraph (ii) if the Issuer shall have filed a similar registration statement with
unused capacity at least equal to the relevant Early Settlement Payment and such registration statement has become effective or been declared effective by the SEC on or prior to the Registration Notice Date and no stop order is in effect with
respect to such registration statement as of the Registration Notice Date. The Issuer shall use its best efforts to file an automatic shelf registration statement or have the Registration Statement declared effective by the SEC as promptly as
possible. 
 (iii) Promptly following the Registration Notice Date, the Issuer shall afford MSCO a reasonable opportunity to
conduct a due diligence investigation with respect to the Issuer customary in scope for underwritten offerings of equity securities (including, without limitation, the availability of senior management to respond to questions regarding the business
and financial condition of the Issuer and the right to have made available to MSCO for inspection all financial and other records, pertinent corporate documents and other information reasonably requested by MSCO), and MSCO shall be 

  

 Page 8 

 satisfied in all material respects with the results of such due diligence investigation of the Issuer.
For the avoidance of doubt, the Issuer shall not have the right to deliver Shares pursuant to this Section 8(a) (and the conditions to delivery of Early Settlement Shares specified in this Section 8(a) shall not be satisfied) until MSCO is
satisfied in all material respects with the results of such due diligence investigation of the Issuer. 
 (iv) From the
effectiveness of the Registration Statement until all Registered Securities have been sold by MSCO, the Issuer shall, at the request of MSCO, make available to MSCO a printed prospectus relating to the Registered Securities in form and substance
(including, without limitation, any sections describing the plan of distribution) satisfactory to MSCO (a “Prospectus”, which term shall include any prospectus supplement thereto), in such quantities as Morgan shall reasonably
request. 
 (v) The Issuer shall use its best efforts to prevent the issuance of any stop order suspending the effectiveness
of the Registration Statement or of any order preventing or suspending the use of any Prospectus and, if any such order is issued, to obtain the lifting thereof as soon thereafter as is possible. If the Registration Statement, the Prospectus or
any document incorporated therein by reference contains a misstatement of a material fact or omits to state a material fact required to be stated therein or necessary to make any statement therein not misleading, the Issuer shall as promptly as
practicable file any required document and prepare and furnish to MSCO a reasonable number of copies of such supplement or amendment thereto as may be necessary so that the Prospectus, as thereafter delivered to the purchasers of the Registered
Securities will not contain a misstatement of a material fact or omit to state a material fact required to be stated therein or necessary to make any statement therein not misleading. 
 (vi) On or prior to the Registered Share Delivery Date, the Issuer shall enter into an agreement (a “Transfer Agreement”)
with MSCO (or any affiliate of MSCO designated by MSCO) in connection with the public resale of the Registered Securities, substantially similar to underwriting agreements customary for underwritten offerings of equity securities, in form and
substance satisfactory to MSCO (or such affiliate), which Transfer Agreement shall (without limitation of the foregoing): 
 (A) contain provisions substantially similar to those contained in such underwriting agreements relating to the indemnification of, and contribution in connection with the liability of, MSCO and its affiliates, 
 (B) provide for delivery to MSCO (or such affiliate) of customary opinions (including, without limitation, accounting comfort letters,
opinions relating to the due authorization, valid issuance and fully paid and non-assessable nature of the Registered Securities and the lack of material misstatements and omissions in the Registration Statement, the Prospectus and the Issuer’s
filings under the Exchange Act of 1934, as amended and modified (the “Exchange Act”)); and 
 (C) provide for
the payment by the Issuer of all fees and expenses in connection with such resale, including all registration costs and all fees and expenses of counsel for MSCO (or such affiliate). 
 (vii) On the Registered Share Delivery Date, a balance (the “Settlement Balance”) shall be established with an initial
balance equal to the applicable amount of the relevant Early Settlement Payment. Following the delivery of Early Settlement Shares or any Make-Whole Shares, Seller shall sell all such Early Settlement Shares or Make-Whole Shares in a
commercially reasonable manner. 
 (viii) At the end of each day upon which sales have been made, the Settlement Balance shall
be (A) reduced by an amount equal to the aggregate proceeds received by MSCO upon settlement of 
  

 Page 9 

 
the sale of such Share, and (B) increased by an amount (as reasonably determined by the Calculation Agent) equal to MSCO’s funding cost with
respect to the then-current Settlement Balance as of the close of business on such day. 
 (ix) If, on any date, the
Settlement Balance has been reduced to zero but not all of the Early Settlement Shares have been sold, no additional Early Settlement Shares shall be sold and MSCO shall promptly deliver to the Issuer (A) any remaining Early Settlement Shares
and (B) if the Settlement Balance has been reduced to an amount less than zero, an amount in cash equal to the absolute value of the then-current Settlement Balance. 
 (x) If, on any date, all of the Early Settlement Shares have been sold and the Settlement Balance has not been reduced to zero, the Issuer
shall promptly deliver to MSCO an additional number of Shares (“Make-Whole Shares”) equal to (A) the Settlement Balance as of such date divided by (B) the price per Share as reasonably determined by the Calculation Agent. This
clause (x) shall be applied successively until the Settlement Balance is reduced to zero. 
 (xi) If at any time the
number of Shares covered by the Registration Statement is less than the number of Registered Securities required to be delivered pursuant to this Section 8(a), the Issuer shall, at the request of MSCO, file additional registration statement(s)
to register the sale of all Registered Securities required to be delivered to MSCO. 
 (xii) The Issuer shall cooperate with
MSCO and use its reasonable best efforts to take any other action necessary to effect the intent of the provisions set forth in this Section 8(a). 
 (b) If Issuer timely elects to deliver Early Settlement Shares and Make-Whole Shares by means of a private placement, the following provisions shall apply: 
 (i) all Early Settlement Shares and Make-Whole Shares shall be delivered to the Seller (or any affiliate of the Seller designated by the
Seller) pursuant to the exemption from the registration requirements of the Securities Act provided by Section 4(2) thereof; 
 (ii) Seller and any potential purchaser of any such Shares from the Seller (or any affiliate of the Seller designated by the Seller) identified by Seller shall have been afforded a commercially reasonable opportunity
to conduct a due diligence investigation with respect to Issuer customary in scope for private placements of equity securities (including, without limitation, the right to have made available to them for inspection all financial and other records,
pertinent corporate documents and other information reasonably requested by them) and Buyer shall not disclose material non-public information in connection with such due diligence investigation; and 
 (iii) an agreement (a “Private Placement Agreement”) shall have been entered into between Issuer and the Seller (or any
affiliate of the Seller designated by the Seller) in connection with the private placement of such Shares by Issuer to the Seller (or any such affiliate) and the private resale of such Shares by the Seller (or any such affiliate), substantially
similar to private placement purchase agreements customary for private placements of equity securities, in form and substance commercially reasonably satisfactory to the Seller and the Issuer, which Private Placement Agreement shall include, without
limitation, provisions substantially similar to those contained in such private placement purchase agreements relating to the indemnification of, and contribution in connection with the liability of, the Seller and its affiliates, and shall provide
for the payment by Issuer of all fees and expenses in connection with such resale, including all reasonable fees and expenses of one counsel for the Seller but not including any underwriter or broker discounts and commissions, and shall contain
representations, warranties and agreements of Issuer and Seller reasonably necessary or advisable to establish and maintain the availability of an exemption from the registration requirements of the Securities Act for such resales. 
  

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 (iv) If Issuer elects to deliver Early Settlement Shares to satisfy its payment
obligation of an Early Settlement Payment, neither Issuer nor Seller shall take or cause to be taken any action that would make unavailable either (i) the exemption set forth in Section 4(2) of the Securities Act for the sale of any
Early Settlement Shares or Make-Whole Shares by Issuer to the Seller or (ii) an exemption from the registration requirements of the Securities Act reasonably acceptable to the Seller for resales of Early Settlement Shares and Make-Whole Shares
by the Seller. 
 (v) On the date requested by MSCO, (A) Issuer shall deliver a number of Early Settlement Shares equal
to the quotient of (I) the relevant Early Settlement Payment divided by (II) a per share value, determined by MSCO in a commercially reasonable manner and which may be based on indicative bids from institutional “accredited investors”
(as defined in Rule 501 under the Securities Act of 1933, as amended (the “Securities Act”)) and (B) the provisions of Sections 8(a)(vii) –(x) shall apply to the Early Settlement Shares delivered pursuant to this
Section 8(b)(v). For purposes of applying the foregoing, the Registered Share Delivery Date referred to in 8(a)(vii) shall be the date on which Issuer delivers the Early Settlement Shares. 
 (c) The provisions of Section 8(b) shall apply to any then-current Settlement Balance if (i) on any given day, Issuer cannot satisfy any of the
conditions of Section 8(a) or (ii) for a period of at least ten (10) consecutive Exchange Business Days, MSCO has determined that it is inadvisable to effect sales of Registered Securities. 
 (d) If Issuer elects to deliver Early Settlement Shares to satisfy its payment obligation of an Early Settlement Payment, then, if necessary, Issuer
shall use its best efforts to cause the number of authorized but unissued Shares of Common Stock to be increased to an amount sufficient to permit Issuer to fulfill its obligations to satisfy its payment obligation of an Early Settlement Payment by
delivering Early Settlement Shares. 
 9. Special Provisions for Merger Events. Notwithstanding anything to the contrary herein or in the Equity Definitions,
to the extent that an Announcement Date for a potential Merger Transaction occurs during the term of this Transaction and such Announcement Date does not cause this Transaction to terminate in whole under the provisions of “Extraordinary
Event” in paragraph 2 above: 
 (a) As soon as practicable following the public announcement of such potential Merger Transaction,
Issuer shall provide MSCO with written notice of such announcement; 
 (b) Promptly after request from MSCO, Issuer shall provide MSCO with
written notice specifying (i) Issuer’s average daily Rule 10b-18 Purchases (as defined in Rule 10b-18) during the three full calendar months immediately preceding the Announcement Date that were not effected through MSCO or its affiliates
and (ii) the number of Shares purchased pursuant to the block purchase proviso in Rule 10b-18(b)(4) under the Exchange Act for the three full calendar months preceding the Announcement Date. Such written notice shall be deemed to be a
certification by Issuer to MSCO that such information is true and correct. Issuer understands that MSCO will use this information in calculating the trading volume for purposes of Rule 10b-18; and 
 (c) MSCO in its sole discretion may extend the Calculation Period to account for any reduction in the number of Shares that could be purchased on each
day during the Calculation Period in compliance with Rule 10b-18 following the Announcement Date. 
 “Merger
Transaction” means any merger, acquisition or similar transaction involving a recapitalization of Issuer as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act.  
  

 Page 11 

 10. Seller Adjustments. In the event that Seller reasonably determines that it is appropriate with regard to any legal,
regulatory or self-regulatory requirements or related policies and procedures (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Seller, and including, without limitation, Rule 10b-18,
Rule 10b-5, Regulation 13D-G and Regulation 14E, “Requirements”), for Seller to refrain from purchasing Shares or to purchase fewer than the number of Shares Seller would otherwise purchase on any Trading Day during the duration of
this Transaction, then Seller may, in its discretion, elect that Calculation Period be suspended and, if appropriate, extended with regard to any Requirements. Seller shall notify the Issuer upon the exercise of Seller’s rights pursuant to this
Section 10 and shall subsequently notify the Issuer on the day Seller believes that the circumstances giving rise to such exercise have changed. If the Calculation Period is suspended pursuant to this Section 10, at the end of such
suspension Seller shall determine the number of Trading Days remaining in the Calculation Period, as appropriate, and the terms of this Transaction shall be adjusted as set forth above under “Physical Settlement.” 
 11. Covenants. 
 (a) The Buyer covenants and agrees: 
 (i)(a) that it will not treat this Transaction, any portion hereof, or any obligation hereunder as giving rise to any interest income or other inclusions
of ordinary income; (b) it will not treat the delivery of any portion of the Shares or cash to be delivered pursuant to this Transaction as the payment of interest or ordinary income; (c) it will treat this Transaction in its entirety as a
forward contract for the delivery of such Shares or cash; and (d) it will not take any action (including filing any tax return or form or taking any position in any tax proceeding) that is inconsistent with the obligations contained in
(a) through (c). Notwithstanding the preceding sentence, Buyer may take any action or position required by law, provided that Buyer delivers to Seller an unqualified opinion of counsel, nationally recognized as expert in Federal tax matters and
acceptable to Buyer, to the effect that such action or position is required by a statutory change or a Treasury regulation or applicable court decision published after the Trade Date; 
 (ii) that during the term of this Agreement, neither it nor any of its affiliates shall directly or indirectly take any action that would cause the
purchase by Seller of any Shares in connection with this Agreement not to comply with Rule 10b-18 under the Exchange Act (assuming for the purposes of this paragraph that such Rule were otherwise applicable to such purchases); 
 (iii) to comply with all laws, rules and regulations applicable to it (including, without limitation, the Securities Act of 1933, as amended (the
“Securities Act”) and the Exchange Act) in connection with the transactions contemplated by this Confirmation; 
 (iv) that it is
not relying, and has not relied, upon Seller or any of its representatives or advisors with respect to the legal, accounting, tax or other implications of this Agreement and that it has conducted its own analyses of the legal, accounting, tax and
other implications of this Agreement, and that Seller and its affiliates may from time to time effect transactions for their own account or the account of customers and hold positions in securities or options on securities of the Buyer and that
Seller and its affiliates may continue to conduct such transactions during the term of this Agreement; and 
 (v) that neither it nor any
affiliates shall take any action that would cause Regulation M under the Exchange Act (“Regulation M”), to be applicable to any purchases of Shares, or any security for which Shares is a reference security (as defined in Regulation M), by
Buyer or any affiliated purchasers (as defined in Regulation M) during the Calculation Period. 
 (b) Seller covenants and agrees that with respect to the
purchase of any Shares in connection with this Agreement (except for any purchases made by Seller in connection with dynamic hedge adjustments of the Seller’s exposure to the Transaction as a result of any equity optionality contained in such
Transaction), Seller shall make any such purchase in a manner that Seller reasonably believes, based on the representations and warranties set forth herein and any other information provided to Seller by Buyer, would meet the requirements 

  

 Page 12 

 
of the safe harbor under the provisions of Rule 10b-18 as if such purchases were made by Buyer; provided, however, that it is understood and
agreed that Seller will not be obligated to comply with this paragraph in connection with the occurrence of a Valuation Date other than the Scheduled Valuation Date or if an Event of Default, Additional Disruption Event, Extraordinary Event or
Additional Termination Event occurs. 
 12. Representations, Warranties and Acknowledgments. 
 (a) The Buyer hereby represents and warrants to Seller that: 
 (i) as of the date hereof, the Buyer
(A) is not in possession of any material, non-public information with respect to the Buyer or any of its securities, and is entering into this Agreement in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1
of the Exchange Act and (B) agrees not to alter or deviate from the terms of this Agreement or enter into or alter a corresponding or hedging transaction or position with respect to the Shares (including, without limitation, with respect to any
securities convertible or exchangeable into the Shares) during the term of this Agreement; 
 (ii) the transactions contemplated by this
Confirmation have been authorized under Buyer’s publicly announced program to repurchase Shares; 
 (iii) the Buyer is not entering into
this Agreement to facilitate a distribution of the Shares (or any security convertible into or exchangeable for Shares) or in connection with a future issuance of securities except pursuant to the Buyer’s employee benefit plans and dividend
reinvestment plan or other publicly disclosed transaction; 
 (iv) the Buyer is not entering into this Agreement to create actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress the price of the Shares (or any security convertible into or exchangeable for Shares); and 
 (v) the Buyer is as of the date hereof, and after giving effect to the transactions contemplated hereby will be, Solvent. As used in this paragraph, the
term “Solvent” means, with respect to a particular date, that on such date (A) the present fair market value (or present fair saleable value) of the assets of the Buyer is not less than the total amount required to pay the liabilities
of the Buyer on its total existing debts and liabilities (including contingent liabilities) as they become absolute and matured, (B) the Buyer is able to realize upon its assets and pay its debts and other liabilities, contingent obligations
and commitments as they mature and become due in the normal course of business, (C) assuming consummation of the transactions as contemplated by this Agreement, the Buyer is not incurring debts or liabilities beyond its ability to pay as such
debts and liabilities mature, (D) the Buyer is not engaged in any business or transaction, and does not propose to engage in any business or transaction, for which its property would constitute unreasonably small capital after giving due
consideration to the prevailing practice in the industry in which the Buyer is engaged and (E) the Buyer is not a defendant in any civil action that could reasonably be expected to result in a judgment that Buyer is or would become unable to
satisfy. 
 (b) Seller and the Buyer each hereby acknowledges that any transactions by Seller in the Shares will be undertaken by Seller, as the case may be,
as principal for its own account. All of the actions to be taken by Seller in connection with this Agreement, shall be taken by Seller independently and without any advance or subsequent consultation with the Buyer. 
 (c) Seller and the Buyer each hereby acknowledges that nothing in this Agreement shall prohibit Buyer from engaging in open market repurchase programs or privately
negotiated repurchases outside of any transactions that occur in connection with this Agreement. Seller shall have no control over any such open market repurchases and Buyer shall have full responsibility for ensuring that any such open market
repurchases are executed in a manner consistent with any law, regulation or policy to which Buyer is subject. Seller shall have no responsibility to notify Buyer of any such open market repurchases. 
  

 Page 13 

 13. Acknowledgements of Buyer Regarding Hedging and Market Activity. Buyer agrees, understands and acknowledges that:

  

	 	(a)	during the period from (and including) the Trade Date to (and including) the Settlement Date, Seller and its affiliates may buy or sell Shares or other securities or buy or sell
options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position with respect to the transactions contemplated by this Transaction;

  

	 	(b)	Seller and its affiliates also may be active in the market for the Shares other than in connection with hedging activities in relation to the transactions contemplated by this
Transaction;

  

	 	(c)	Seller shall make its own determination as to whether, when and in what manner any hedging or market activities in the Issuer’s securities shall be conducted and shall do so in
a manner that it deems appropriate to hedge its price and market risk with respect to 10b-18 VWAP; and 

  

	 	(d)	any market activities of Seller and its affiliates with respect to the Shares may affect the market price and volatility of the Shares, as well as the 10b-18 VWAP, each in a manner
that may be adverse to Buyer. 

 14. Indemnification. 
 (a) In the event that Seller becomes involved in any capacity in any action, proceeding or investigation brought by or against any person in connection with any matter referred to in this Agreement, the Buyer will
reimburse Seller for its reasonable legal and other expenses (including the cost of any investigation and preparation) incurred in connection therewith. The Buyer also will indemnify and hold Seller harmless against any losses, claims, damages or
liabilities to which it may become subject in connection with any matter referred to in this Agreement, except to the extent that any such loss, claim, damage or liability results from the gross negligence or bad faith of Seller in effecting the
transactions which are the subject of this Agreement; provided, however, that if it is determined by a court of competent jurisdiction in a final judgment that Seller is not entitled to be indemnified hereunder in connection with such matter,
then Seller shall reimburse the Buyer for any expenses paid pursuant to the first sentence of this Section 14. If for any reason the foregoing indemnification is unavailable to Seller or insufficient to hold it harmless, then the Buyer shall
contribute to the amount paid or payable by Seller as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the Buyer on one hand and Seller on the other hand with respect to such
loss, claim, damage, or liability and any other relevant equitable considerations. The reimbursement, indemnity and contribution obligations of the Buyer under this Section 14 shall be in addition to any liability which the Buyer may otherwise
have, shall extend upon the same terms and conditions to any affiliate of Seller and the partners, directors, officers, agents, employees and controlling persons (if any), as the case may be, of Seller and any such affiliate and shall be binding
upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Buyer, Seller, any such affiliate and any such person. The Buyer also agrees that neither Seller nor any of such affiliates, partners, directors,
officers, agents, employees or controlling persons shall have any liability to the Buyer for or in connection with any matter referred to in this Agreement except to the extent that any losses, claims, damages, liabilities or expenses incurred by
the Buyer result from the gross negligence or bad faith of Seller in effecting the transactions that are the subject of this Agreement. The foregoing provisions shall survive any termination or completion of this Agreement. For the purposes of this
Section 14, the term “Seller” shall include MSCO and its affiliates. 
  

 Page 14 

 (b) Subject to Section 14(c), the reimbursement, indemnity and contribution obligations of the Buyer
under Section 14(a) (each, an “Obligation”) shall be paid promptly in cash. 
 (c) In connection with any Obligation
under Section 14(b) above, the Buyer, in lieu of making any cash payment as contemplated by that section, may elect to satisfy such Obligation by delivering Shares to Seller (such Shares, the “Indemnity Shares”) by notifying
Seller of such election within one Trading Day of being informed by Seller that such Obligation is due and payable. The provisions of “Certain Payments and Deliveries by Issuer” in Section 7 above shall apply to such a share
settlement of an Obligation as if the relevant Obligation was the “Early Settlement Payment” and the Indemnity Shares were “Early Settlement Shares”. In order to elect to deliver Indemnity Shares, Issuer must (i) specify
whether such Indemnity Shares are to be sold by means of a registered offering or by means of a private placement and (ii) the conditions described in Section 8 above must be satisfied as if the Indemnity Shares were “Early Settlement
Shares” and any additional Shares Issuer delivers to reduce the settlement balance to zero in connection with this Section 14 were “Make-Whole Shares”. 
 15. The parties hereto agree and acknowledge that Seller is a “financial participant” within the meaning of Section 101(22) of Title 11 of the United States Code (the “Bankruptcy
Code”). The parties hereto further agree and acknowledge that this Transaction is either (i) a “securities contract” as such term is defined in Section 741(7) of the Bankruptcy Code, in which case each payment and
delivery made pursuant to this Transaction is a “settlement payment”, as such term is defined in Section 741(8) of the Bankruptcy Code, and that Seller is entitled to the protections afforded by, among other sections, Sections
362(b)(6), 546(e) and 555 of the Bankruptcy Code, or (ii) a “swap agreement”, as such term is defined in Section 101(53B) of the Bankruptcy Code, in which case each party is a “swap participant”, as such term is defined
in Section 101(53C) of the Bankruptcy Code, and that Seller is entitled to the protections afforded by, among other sections, Sections 362(b)(17), 546(g) and 560 of the Bankruptcy Code. 
 16. Seller and Issuer hereby agree and acknowledge that Seller has authorized the Issuer to disclose this Transaction to any and all persons, and there are no express or
implied agreements, arrangements or understandings to the contrary, and authorizes the Issuer to use any information that the Issuer receives or has received with respect to this Transaction in any manner. 
 17. Treatment in Bankruptcy; No Setoff; No Collateral. 
 (a)
In the event the Buyer becomes the subject of proceedings (“Bankruptcy Proceedings”) under the U.S. Bankruptcy Code or any other applicable bankruptcy or insolvency statute from time to time in effect, any rights or claims of Seller
hereunder in respect of this transaction shall rank for all purposes no higher than, but on a parity with, the rights or claims of holders of Shares, and Seller hereby agrees that its rights and claims hereunder shall be subordinated to those of all
parties with claims or rights against the Buyer (other than common stockholders) to the extent necessary to assure such ranking. Without limiting the generality of the foregoing, after the commencement of Bankruptcy Proceedings, the claims of Seller
hereunder shall for all purposes have rights equivalent to the rights of a holder of a percentage of the Shares equal to the aggregate amount of such claims (the “Claim Amount”) taken as a percentage of the sum of (i) the Claim
Amount and (ii) the aggregate fair market value of all outstanding Shares on the record date for distributions made to the holders of such Shares in the related Bankruptcy Proceedings. Notwithstanding any right it might otherwise have to assert
a higher priority claim in any such Bankruptcy Proceedings, Seller shall be entitled to receive a distribution solely to the extent and only in the form that a holder of such percentage of the Shares would be entitled to receive in such Bankruptcy
Proceedings, and, from and after the commencement of such Bankruptcy Proceedings, Seller expressly waives (i) any other rights or distributions to which it might otherwise be entitled in such Bankruptcy Proceedings in respect of its rights and
claims hereunder and (ii) any rights of setoff it might otherwise be entitled to assert in respect of such rights and claims. 
  

 Page 15 

 (b) Notwithstanding any provision of this Agreement or any other agreement between the parties to the
contrary, neither the obligations of the Buyer nor the obligations of Seller hereunder are secured by any collateral, security interest, pledge or lien. 
 18. Share Cap. Notwithstanding any other provision of this Agreement to the contrary, in no event shall the Buyer be required to deliver to Seller a number of Shares that exceeds the Share Cap (as specified in Schedule I), subject to
reduction by the number of Shares delivered hereunder by the Buyer on any prior date. 
 19. Account Details: 
  

			
	 Account for Payments to MSCO:
	  	To be provided separately
	 Account for Payments to Issuer:
	  	To be provided by Issuer

 20. Governing law: The laws of the State of New York. 
 EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS
CONFIRMATION OR ANY TRANSACTION CONTEMPLATED HEREBY. 
  

 Page 16 

 Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Confirmation and
returning it to us by facsimile to the number provided on the attached facsimile cover page. 
 Confirmed as of the date first written above: 
  

									
	UNUM GROUP	 		 	MORGAN STANLEY & CO. INCORPORATED
					
	By:	 	 	 		 	By:	 	 
		 	Name:	 		 		 	Name:
		 	Title:	 		 		 	Title:

  

 Page 17 

 Schedule I 
 This Schedule I, dated January 31, 2008 may be amended and/or superseded from time to time by mutual agreement of both parties. For the purposes of this Transaction, the following terms shall have the following values/meanings:

 1. The Trade Date shall be January 31, 2008 
 2. The
Discount equals USD ***. 
 3. The Initial Shares equal 14,000,000. 
 4. The Prepayment Amount equals USD 350,000,000. 
 5. The Commission Amount equals USD ***. 
 6. The Adjustment Amount equals ***. 
 7. The Structuring Fee equals ***.

 8. The Scheduled Valuation Date shall mean May 23, 2008. 
 9. The Lock-Out Date shall mean March 25, 2008. 
 10. The Share Cap shall equal the lesser of (i) 34,000,000 million Shares and
(ii) 20% of the total number of Shares that Issuer has outstanding as of any day. 
  

 Page 18 

 AGREED AND ACKNOWLEDGED (as of the date listed above) 
  

	
	UNUM GROUP
	
	  
	Name:
	Title
	
	MORGAN STANLEY & CO. INCORPORATED
	
	  
	Name:
	Title

  

 Page 19Separation Agreement between Fifth Third Bancorp and Christopher G. Marshall

 Exhibit 10.1 
 May 1, 2008 
 SEPARATION AGREEMENT AND GENERAL RELEASE OF ALL CLAIMS 
 In consideration of the mutual covenants contained herein, the sufficiency of which are hereby acknowledged, Christopher Marshall (“you”) and Fifth Third Bank
and Fifth Third Bancorp including their officers, directors and subsidiaries and affiliates (collectively “Fifth Third”) agree as follows: 
 A.
Your position as an Executive Vice President and Chief Financial Officer of Fifth Third Bancorp and Fifth Third Bank ends with your resignation effective at 5:00 P.M. on April 30, 2008. If you comply with the terms and conditions of this
Agreement, as a severance you will receive the following: 
  

	 	1.	Fifth Third will pay you a lump sum of $1,500,000.00, minus statutory deductions on May 18, 2008 provided that seven days have passed since the execution of this
Agreement. Executive has been advised of the possible application of Section 409A of the Internal Revenue Code and that he shall be solely responsible for any taxes, interest or penalty arising therefrom. 

  

	 	2.	Fifth Third will purchase your Cincinnati residence utilizing the guidelines set forth in Fifth Third’s relocation policy. 

  

	 	3.	The 18,868 shares awarded in the July 7, 2006 Restricted Stock Grant will vest the earlier of: (i) last date of your employment or (ii) the earliest date allowed to
vest without penalty as provided in Section 409A of the IRS Code. 

  

	 	4.	The 2,613 vested shares of the April 9, 2007 Performance Based Restricted Stock Grant will remain vested according to the terms of the grant. 

  

	 	5.	Fifth Third will provide a reference letter containing language which is agreeable to both parties. 

 B. In exchange for the above severance and to preserve the interests of Fifth Third in its clients and customers, you agree that for the duration of your employment with Fifth Third and with respect to sections
B (1), (2), (3) and (6) for a period ending one year thereafter; with respect to sections B (4) and (5) for a period ending two years thereafter, you will not: 
  

	 	1.	Directly or indirectly solicit, divert, entice or take away any customers, business or prospective business with whom you had contact, involvement or responsibility during your
employment with Fifth Third, or attempt to do so for the sale of any product or service that competes with a product or service offered by Fifth Third; 

  

	 	2.	Directly or indirectly solicit, divert, entice or take away any potential customer identified, selected or targeted by Fifth Third with whom you had contact, involvement or
responsibility during your employment with Fifth Third, or attempt to do so for the sale of any product or service that competes with a product or service offered by Fifth Third; 

  

	 	3.	Accept or provide assistance in the accepting of (including, but not limited to, providing any service, information or assistance or other facilitation or other involvement)
business or orders from customers or any potential customers of Fifth Third with whom you have had contact, involvement, or responsibility on behalf of any third party or otherwise for your own benefit; 

  

	 	4.	Directly or indirectly solicit, induce, confer or discuss with any employee of Fifth Third or attempt to solicit, induce, confer or discuss with any employee of Fifth Third the
prospect of leaving the employ of Fifth Third or the subject of employment by some other person or organization; 

  

 Page 1 

 Exhibit 10.1 
  

	 	5.	Directly or indirectly hire or attempt to hire any employee of Fifth Third; 

  

	 	6.	Nothing contained in this Section shall preclude you from accepting employment with or creating your own company, firm or business that competes with Fifth Third so long as your
activities do not violate any of the terms of this Agreement; 

  

	 	7.	The restrictive covenants contained in this section shall supersede any previous obligations imposed upon you by agreements entered into between you and Fifth Third as they relate
to your post-employment solicitation of customers and/or employees. However, any prior obligations prohibiting the use, possession, and dissemination of confidential, proprietary and/or trade secret protected information shall remain in full force
and effect. 

 C. As additional consideration, you, on your behalf and on behalf of your heirs, executors, successors, and assigns
hereby release Fifth Third, as well as all of their officers, directors, executives, managers and employees, from any and all debts, claims, demands, rights, actions, causes of action, suits or damages, whatsoever and of every kind of nature,
whether known or unknown (collectively the “Claims”), against Fifth Third and the others released herein, which relate to or arose from your employment with or separation from Fifth Third as contemplated herein except to the extent such
Claims cannot be released under applicable law. Released claims include, without limitation, any and all claims arising under federal, state or local laws, including, without limitation, claims under the Age Discrimination in Employment Act, the
Older Workers Benefit Protection Act, the Americans With Disabilities Act, Title VII of the Civil Rights Act of 1964, as amended, the Equal Pay Act, any other federal, state or local law prohibiting employment discrimination or otherwise regulating
wages, hours or working conditions, and any and all claims under the common law for breach of express or implied contract, violation of the covenant of good faith and fair dealing, violation of public policy, negligence, slander, defamation,
invasion of privacy, false light, false imprisonment, trespass, breach of fiduciary duty, intentional interference, intentional or negligent infliction of emotional distress, intrusion, loss of consortium, retaliatory or wrongful termination,
punitive damages, and claims that you have or may have which may have arisen up to and including the date of this Agreement. You acknowledge and agree that as a matter of public policy, you cannot waive any rights to file claims with the Equal
Employment Opportunity Commission and/or any similar state agency, however, in the event such claim(s) is/are filed, you hereby expressly waive the right to receive any monetary damages as a result of such action(s) and expressly waive the right to
receive any monetary damages in connection with such proceedings. 
 D. You will not make any disparaging remarks concerning Fifth Third or any of its
employees to anyone. In response to any inquiries to your departure, your response will be that you left Fifth Third for personal reasons and have the utmost respect for the Bank and its Senior Management Team. You will direct any inquiries
concerning your employment to Nancy Phillips, Executive Vice President and Director of Human Resources. The executive management team’s response to any inquiry will be that you left the Company for personal reasons. 
 E. Apart from your discussions with your personal counsel and your immediate family, whom you will ask not to divulge the terms of this Agreement, you will not
disclose, publicize or discuss either the terms of this Agreement or your employment with and termination from Fifth Third with anyone within or outside of Fifth Third unless required by subpoena or any other legal compulsion, and you will give
immediate notice to Fifth Third of the receipt of any subpoena or other legal document which might call upon you to disclose either any of the contents of this Agreement or your employment with and termination from Fifth Third. 
 F. You will return to Fifth Third the original and any copies of all keys, identification cards, charge cards, equipment, papers, reports, memoranda or other
items of Fifth Third property on May 3, 2008. You acknowledge that Fifth Third has returned to you all items of your personal property. 
  

 Page 2 

 Exhibit 10.1 
 G. The commitments you have made in this Agreement will survive the termination of your employment with Fifth Third. Without intending to limit the remedies available to Fifth Third, you agree that damages at
law will not be sufficient to provide Fifth Third with the value of the commitments you have made in the event that you violate any of the terms of this letter and that Fifth Third may apply for and is entitled to emergency and/or injunctive relief
in any court of competent jurisdiction to prevent the breach or threatened breach of, or otherwise specifically enforce any of the covenants in this Agreement, in each case without Fifth Third having to prove it has actually been damaged by your
actions. 
 H. Nothing in this Agreement constitutes an admission of liability or wrongdoing by you or by Fifth Third or any of the others released
herein. 
 I. Any action to enforce this Agreement may be brought in a state or federal court located in Hamilton County, Ohio. These courts shall
have jurisdiction and venue with respect to any such action. 
 J. In October 1990, the Older Workers Benefit Protection Act (“Act”) was
enacted. The Act provides, among other things, that notice be given to you in writing and in a manner calculated to be understood by the average individual affected by this termination. As provided in the Act, you have a right to consider this
Agreement for a period of twenty-one days. Should you accept the Agreement, you have seven days from the date of acceptance within which to revoke your acceptance. If you accept the Agreement and after the lapse of the appropriate days, payment will
be made to you as provided in the Agreement. If you decide not to accept the Agreement or accept the Agreement but revoke acceptance within seven days, nothing will be paid to you under the Agreement. You are advised to consult with an attorney
before acting on this Agreement. 
 If you choose to accept this Agreement, you must sign below and return the executed original to Nancy Phillips, Executive
Vice President, Director of Human Resources, no later than 5:00 p.m. on June 5, 2008. As detailed in the above paragraph, you have seven days in which you may revoke your acceptance of the Agreement. If you revoke your acceptance within the
seven-day period, nothing will be paid to you and your employment will have ended at 5:00 P.M. on April 30, 2008. 
 This Agreement will be effective
seven days after execution. 
 Signed this 1st day of May, 2008 
  

					
	Accepted and agreed to:	 	Witnessed and accepted:
		
		 	FIFTH THIRD BANCORP
			
	 Christopher Marshall
	 	BY:	 	 Nancy R. Phillips

	Christopher Marshall	 		 	
		
	DATE: 5/1/08	 	DATE: 5/1/08

  

 Page 3

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