Document:

EX-10.1

Ex. 10.1

NEITHER THE ISSUANCE AND SALE OF THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE
OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933 OR
(B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER
SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A OR OTHER EXEMPTION UNDER SAID ACT.

THE TRANSFER OF THE SECURITIES REPRESENTED HEREBY IS PROHIBITED EXCEPT IN ACCORDANCE WITH THE
SECURITIES ACT OF 1933, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION.

VIASPACE INC.

SENIOR SECURED CONVERTIBLE PROMISSORY NOTE

$40,000.00 February 19, 2015

FOR VALUE RECEIVED, VIASPACE INC., a Nevada corporation (“Company”), promises to pay to Kevin
Schewe (“Holder”), or its registered assigns, in lawful money of the United States of America the
principal sum of FORTY THOUSAND Dollars ($40,000.00), or such other amount as shall equal the
outstanding principal amount hereof, together with interest from the date of this Note on the
unpaid principal balance at a rate equal to six percent (6.0%) per annum, computed on the basis of
the actual number of days elapsed and a year of 365 days. Unless converted into Common Stock of
Company as set forth in Section 3 and/or Section 8 below, all unpaid principal, together with any
then unpaid and accrued interest, shall be due and payable on the earlier of (i) February 19, 2017
(the “Maturity Date”), (ii) upon prepayment of all amounts due and payable under this Note in
accordance with the terms hereof, or (iii) when, upon or after the occurrence of an Event of
Default (as defined below), such amounts are declared due and payable by Holder or made
automatically due and payable in accordance with the terms hereof. Immediately prior to the
issuance of this Note by Company, Holder acknowledges that it has delivered to Company the sum of
FORTY THOUSAND Dollars ($40,000.00) reflecting the principal amount under this Note.

This Note is one of a series of notes (the “Notes”) having like tenor and effect (except for
variations necessary to express the name of the holder, the principal amount of each of the Notes
and the date on which each Note is funded) in an aggregate principal amount of up to $1,000,000
issued or to be issued by Company on or about the period from September 2012 to August 2017 (or
such other period as agreed upon by the Company and the Holder) pursuant to the terms of a Loan
Agreement, dated as of September 30, 2012, by and between Company and the Holder (or his designees)
of the Notes (the “Loan Agreement”). The Notes shall rank equally without preference or priority
of any kind over one another, and all payments on account of principal and interest with respect to
any of the Notes shall be applied ratably and proportionately on the outstanding Notes on the basis
of the principal amount of the outstanding indebtedness represented thereby.

The following is a statement of the rights of Holder and the conditions to which this Note is
subject, and to which Company by issuance of this Note, and Holder by the acceptance of this Note,
agree:

1. Definitions. As used in this Note, the following capitalized terms have the
following meanings:

(a) “Common Stock” shall mean the Company’s Common Stock, par value $0.001.

(b) “Collateral” has the meaning given in Section 4 hereof.

(c) “Company” includes the corporation initially executing this Note and any Person which
shall succeed to or assume the obligations of Company under this Note.

(d) “Conversion Notice” has the meaning given in Section 8(e) hereof.

(e) “Conversion Period” shall mean the period from the date of the Note and ending on the
Maturity Date.

(f) “Conversion Price” has the meaning given in Section 8(b) hereof

(g) “Event of Default” has the meaning given in Section 6 hereof.

(h) “Holder” shall mean the Person specified in the introductory paragraph of this Note or any
Person who shall at the time be the registered holder of this Note. “Holders” shall mean the
Persons collectively specified in the introductory paragraph of this Note and the other Notes or
any Persons who shall at the time be the registered holders of this Note and the other Notes.

(i) “Majority Holders” shall mean Holders holding a majority of the aggregate principal amount
of the Notes then outstanding.

(j) “Note” shall mean this Senior Secured Convertible Promissory Note.

(k) “Obligations” shall mean and include all loans, advances, debts, liabilities and
obligations owed by Company to Holder of every kind and description, now existing or hereafter
arising under or pursuant to the terms of this Note including, all interest, fees, charges,
expenses, attorneys’ fees and costs and accountants’ fees and costs chargeable to and payable by
Company hereunder.

(l) “Person” shall mean and include an individual, a partnership, a corporation (including a
business trust), a joint stock company, a limited liability company, an unincorporated association,
a joint venture or other entity or a governmental authority.

(m) “Prepayment Amount” has the meaning given in Section 3 hereof

(n) “Prepayment Notice” has the meaning given in Section 3 hereof.

(o) “Sale Transaction” shall mean a transaction or series of related transactions involving
(i) the consolidation or merger of Company with another Person, (ii) a sale of all or substantially
all of the assets of Company, (iii) a purchase, tender or exchange offer that is accepted by the
holders of more than the 50% of the outstanding shares of capital stock of Company, (iv) the
consummation of a stock purchase agreement or other business combination with another Person
whereby such other Person acquires more than the 50% of the outstanding capital stock of Company.

(p) “Securities Act” has the meaning given in Section 5(b) hereof.

(q) “Loan Agreement” has the meaning in the second introductory paragraph of this Note.

(r) “Successor Entity” has the meaning given in Section 10 hereof.

Capitalized term not otherwise defined shall have the meaning set forth in the Loan Agreement.

2. Interest. Unless converted into Common Stock of Company as set forth in Section 8
below, or unless prepaid or converted as set forth in Section 3 below, accrued interest on this
Note shall be payable on the Maturity Date.

3. Prepayment. During the Conversion Period, Company may, at any time and from time
to time, prepay all or any portion of the principal due under this Note, together with accrued
interest, without penalty. Company shall effect such prepayment by providing Holder twenty (20)
days written notice prior to the date of such prepayment (such notice, a “Prepayment Notice”)
indicating the amount of principal and accrued interest Company desires to prepay (the “Prepayment
Amount”). Notwithstanding the foregoing, Holder shall have 10 days following receipt of such
Prepayment Notice to notify Company in writing of its election to convert the Prepayment Amount
into shares of Common Stock, in which case such Prepayment Amount shall be converted into shares of
Common Stock in accordance with the conversion procedures set forth in Section 8(e) hereof
(provided that, with respect to conversions effected pursuant to this Section 3, any references to
the Conversion Amount in Section 8(e) shall refer to the Prepayment Amount). Should Holder elect
to convert the Prepayment Amount into shares of Common Stock, the number of shares of Common Stock
into which such Prepayment Amount will be converted shall be determined by dividing the Prepayment
Amount by the then applicable Conversion Price.

4. Security Interest. As security for the payment and performance of the Obligations
under this Note and the other Notes, Company hereby grants to the holder of this Note and of the
other Notes a first lien security interest in all of Company’s right, title and interest in, to and
under all of its personal property, wherever located and whether now existing or owned or hereafter
acquired or arising, including all accounts, chattel paper, commercial tort claims, deposit
accounts, documents, equipment (including all fixtures), general intangibles, intellectual property
(including all patents and patent applications, all copyrights and applications for copyright, all
state (including common law), federal and foreign trademarks, service marks and trade names, and
applications for registration of such trademarks, service marks and trade names, and all trade
secrets), instruments, inventory, investment property, letter-of-credit rights, money and all
products, proceeds and supporting obligations of any and all of the foregoing (collectively, the
“Collateral”). Notwithstanding the foregoing, the security interest granted herein shall not
extend to any property, rights or licenses to the extent the granting of a security interest
therein would be contrary to applicable law.

5. Representations and Warranties of Holder. Holder represents and warrants to Company
as follows:

(a) Binding Obligation. Holder has full legal capacity, power and authority to execute
and deliver this Note and to perform his obligations hereunder. This Note is a valid and binding
obligation of Holder, enforceable in accordance with its terms, except as limited by bankruptcy,
insolvency or other laws of general application relating to or affecting the enforcement of
creditors’ rights generally and general principles of equity.

(b) Securities Law Compliance. Holder has been advised that this Note has not been
registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state
securities laws and, therefore, cannot be resold unless they are registered under the Securities
Act and applicable state securities laws or unless an exemption from such registration requirements
is available. Holder is aware that Company is under no obligation to effect any such registration
with respect to this Note, or the Common Stock issuable or issued pursuant to the conversion of
this Note, or to file for or comply with any exemption from registration. Holder has not been
formed solely for the purpose of making this investment and is purchasing this Note for its own
account for investment, not as a nominee or agent, and not with a view to, or for resale in
connection with, the distribution thereof. Holder has such knowledge and experience in financial
and business matters that Holder is capable of evaluating the merits and risks of such investment,
is able to incur a complete loss of such investment and is able to bear the economic risk of such
investment for an indefinite period of time.

(c) Accredited Investor. Holder is an “accredited investor” within the meaning of SEC
Rule 501 of Regulation D of the Securities Act, as presently in effect.

(d) Restricted Securities. Holder understands that this Note is a “restricted
security” under the federal securities laws inasmuch as it is being acquired from Company in a
transaction not involving a public offering and that under such laws and applicable regulations
such Note may be resold without registration under the Securities Act only in certain limited
circumstances. In the absence of an effective registration statement covering the Note or an
available exemption from registration under the Securities Act, the Note must be held indefinitely.
Holder represents that it is familiar with SEC Rule 144, and understands the resale limitations
imposed thereby and by the Securities Act.

(e) Access to Information. Holder acknowledges that Company has given Holder access
to the corporate records and accounts of Company and to all information in its possession relating
to Company, has made its officers and representatives available for interview by Holder, and has
furnished Holder with all documents and other information required for Holder to make an informed
decision with respect to the purchase of this Note.

6. Events of Default. The occurrence of any of the following shall constitute an
“Event of Default” under this Note:

(a) Failure to Pay. Company shall fail to pay (i) when due any principal or interest
payment on the due date hereunder or (ii) any other payment required under the terms of this Note
on the date due, and (in either case) such payment shall not have been made within twenty (20) days
of Company’s receipt of Holder’s written notice to Company of such failure to pay;

(b) Failure to Perform. Company fails to perform any obligation under this Note and
does not cure that failure within twenty (20) days of Company’s receipt of Holder’s written notice
to Company of such failure to perform; or

(c) Voluntary Bankruptcy or Insolvency Proceedings. Company shall (i) apply for or
consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a
substantial part of its property, (ii) be unable, or admit in writing its inability, to pay its
debts generally as they mature, (iii) make a general assignment for the benefit of its or any of
its creditors, (iv) be dissolved or liquidated, (v) become insolvent (as such term may be defined
or interpreted under any applicable statute), (vi) commence a voluntary case or other proceeding
seeking liquidation, reorganization or other relief with respect to itself or its debts under any
bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such
relief or to the appointment of or taking possession of its property by any official in an
involuntary case or other proceeding commenced against it, or (vii) take any action for the purpose
of effecting any of the foregoing; or

(d) Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment
of a receiver, trustee, liquidator or custodian of Company or of all or a substantial part of the
property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization
or other relief with respect to Company or the debts thereof under any bankruptcy, insolvency or
other similar law now or hereafter in effect shall be commenced and an order for relief entered or
such proceeding shall not be dismissed or discharged within thirty (30) days of commencement.

7. Rights of Holder upon Default. Upon the occurrence or existence of any Event of
Default (other than an Event of Default referred to in Sections 6(c) and 6(d)) and at any time
thereafter during the continuance of such Event of Default, the Majority Holders may, by written
notice to Company, declare all outstanding Obligations payable by Company under the Notes to be
immediately due and payable without presentment, demand, protest or any other notice of any kind,
all of which are hereby expressly waived. Upon the occurrence or existence of any Event of Default
described in Sections 6(c) and 6(d), immediately and without notice, all outstanding Obligations
payable by Company under the Notes shall automatically become immediately due and payable, without
presentment, demand, protest or any other notice of any kind, all of which are hereby expressly
waived. In addition to the foregoing remedies, upon the occurrence or existence of any Event of
Default, Holder may exercise any other right power or remedy permitted to him by law, either by
suit in equity or by action at law, or both.

8. Conversion.

(a) Conversion. Holder shall have the right to convert, at any time during the
Conversion Period, all or any portion of the principal amount, together with any unpaid and accrued
interest, then outstanding under this Note into fully paid and non-assessable shares of Common
Stock at a conversion price per share equal to the Conversion Price (as defined below). The number
of shares of Common Stock into which such principal and interest then outstanding under this Note
will be converted shall be determined by dividing the amount of principal, together with all unpaid
and accrued interest, then outstanding under this Note to be converted (the “Conversion Amount”) by
the Conversion Price.

(b) Conversion Price. Subject to Section 8(c), the “Conversion Price” shall be equal
to 50% of the Average Trading Price as reported by the principal trading exchange on which the
Company’s Common Stock is traded for the twenty (20) trading days preceding the date of the Note.

(c) Adjustments to Conversion Price. The Conversion Price shall be subject to
proportional adjustments for stock splits, stock dividends, combinations, consolidations,
reclassifications and the like.

(d) Conversion Procedure. Before Holder shall be entitled to convert the Conversion
Amount then outstanding under this Note into shares of Common Stock, Holder shall surrender this
Note at the office of this Company, and shall give written notice (a form of which is attached to
this Note, the “Conversion Notice”) to Company at its principal corporate office, of the election
to convert the same and shall state therein the total Conversion Amount. Company shall not be
obligated to issue certificates evidencing the shares of Common Stock issuable upon such conversion
unless (i) Holder executes and delivers to Company the Conversion Notice for the converted shares
and (ii) this Note is delivered to Company. Company shall, as soon as practicable after such
delivery, issue and deliver certificates (bearing such legends as are required by applicable state
and federal securities laws in the opinion of counsel to Company and required by this Note and the
Loan Agreement), representing the number of fully paid and non-assessable shares of the Common
Stock into which the Conversion Amount will be converted in accordance with the provisions herein,
and a new promissory note having like tenor as this Note for the principal amount and interest then
outstanding under this Note that are not being so converted. Any conversion pursuant to this
Section 8 shall be deemed to have been made immediately prior to the close of business on the date
of Company’s receipt of the Conversion Notice, so that the rights of Holder under this Note to the
extent of the Conversion Amount shall cease at such time and Holder shall be treated for all
purposes as having become the record holder of such shares of Common Stock at such time.

(e) Fractional Shares; Effect of Conversion. No fractional shares shall be issued
upon conversion of this Note. In lieu of Company issuing any fractional shares to Holder upon the
conversion of this Note, Company shall pay to Holder an amount equal to the product obtained by
multiplying the Conversion Price by the fraction of a share not issued pursuant to the previous
sentence. Upon conversion of this Note in full and the payment of the amounts specified in this
Section 9(f), Company shall be forever released from all its obligations and liabilities under this
Note.

(f) Reservation of Stock Issuable Upon Conversion. Company shall at all times reserve
and keep available out of its authorized but unissued shares of Common Stock solely for the purpose
of effecting the conversion of this Note such number of its shares of Common Stock as shall from
time to time be sufficient to effect the conversion of this Note.

9. Reserved

10. Effect of Sale Transaction. Upon the occurrence of any Sale Transaction, the
Successor Entity (as defined below) shall succeed to, and be substituted for the Company (so that
from and after the date of such Sale Transaction, the provisions of this Note referring to the
“Company” shall refer instead to the Successor Entity), and may exercise every right and power of
the Company and shall assume all of the obligations of the Company under this Note with the same
effect as if such Successor Entity had been named as the Company herein. Upon consummation of the
Sale Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be
issued upon conversion of this Note at any time after the consummation of the Sale Transaction, in
lieu of the shares of the Common Stock purchasable upon the conversion of the Notes prior to such
Sale Transaction, such shares of common stock (or other securities, cash, assets or other property)
of the Successor Entity. The provisions of this Section shall apply similarly and equally to
successive Sale Transactions and shall be applied without regard to any limitations on the
conversion of this Note. As used in this Section 10, “Successor Entity” means the Person, which
may be the Company, formed by, resulting from or surviving any Sale Transaction, or the parent
entity of such Person, as applicable.

11. Successors and Assigns. Subject to the restrictions on transfer described in
Sections 12 and 13 below, the rights and obligations of Company and Holder of this Note shall be
binding upon and benefit the successors, assigns, heirs, administrators and transferees of the
parties.

12. Waiver and Amendment. Any term of this Note may be amended or waived only with
the written consent of Company and the Majority Holders; provided, however, that any such amendment
or modification which by its terms would not apply equally to all holders of the Notes shall not be
applicable to any holder whose rights under the Notes would be adversely affected by such amendment
or modification in a different manner than other holders thereof without such adversely affected
holder’s written consent.

13. Transfer of this Note or Securities Issuable on Conversion Hereof. With respect
to any offer, sale or other disposition of this Note or securities into which such Note may be
converted, Holder will give written notice to Company prior thereto, describing briefly the manner
thereof, together with a written opinion of Holder’s counsel, or other evidence if reasonably
satisfactory to Company, to the effect that such offer, sale or other distribution may be effected
without registration or qualification (under any federal or state law then in effect). Upon
receiving such written notice and reasonably satisfactory opinion, if so requested, or other
evidence, Company, as promptly as practicable, shall notify Holder that Holder may sell or
otherwise dispose of this Note or such securities, all in accordance with the terms of the notice
delivered to Company. If a determination has been made pursuant to this Section 12 that the
opinion of counsel for Holder, or other evidence, is not reasonably satisfactory to Company,
Company shall so notify Holder promptly after such determination has been made. Each Note thus
transferred and each certificate representing the securities thus transferred shall bear a legend
as to the applicable restrictions on transferability in order to ensure compliance with the
Securities Act, unless in the opinion of counsel for Company such legend is not required in order
to ensure compliance with the Securities Act. Company may issue stop transfer instructions to its
transfer agent in connection with such restrictions. Subject to the foregoing, transfers of this
Note shall be registered upon registration books maintained for such purpose by or on behalf of
Company. Prior to presentation of this Note for registration of transfer, Company shall treat the
registered Holder hereof as the owner and Holder of this Note for the purpose of receiving all
payments of principal and interest hereon and for all other purposes whatsoever, whether or not
this Note shall be overdue and Company shall not be affected by notice to the contrary.

14. Notices. Any notices, consents, waivers or other communications required or
permitted to be given under the terms of this Agreement must be in writing and will be deemed to
have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by
facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one business day after deposit with an overnight
courier service, in each case properly addressed to the party to receive the same. The addresses
and facsimile numbers for such communications shall be to the respective addresses or facsimile
numbers of the parties as set forth in the Loan Agreement, or at such other address or facsimile
number as such parties shall have furnished in writing.

15. Usury. In the event any interest is paid on this Note which is deemed to be in
excess of the then legal maximum rate, then that portion of the interest payment representing an
amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied
against the principal of this Note.

16. Waivers. Company hereby waives notice of default, presentment or demand for
payment, protest or notice of nonpayment or dishonor and all other notices or demands relative to
this instrument.

17. Governing Law and Forum. This Note and all actions arising out of or in
connection with this Note shall be governed by and construed in accordance with the laws of the
State of Colorado, United States of America, without regard to the conflicts of law provisions of
the State of Colorado, or of any other state. All disputes or controversies relating to or arising
from this Note shall be adjudicated in the state and federal courts located in the state of
Colorado. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION
WITH RESPECT TO THIS NOTE AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS
WAIVER. The Convention on Contracts for the International Sale of Goods shall not apply to this
Note.

[Remainder of Page Intentionally Left Blank]

1

IN WITNESS WHEREOF, Company has caused this Note to be issued as of the date first written
above and Holder agrees to the terms and conditions of this Note.

VIASPACE INC.

By: CARL KUKKONEN

Name: Carl Kukkonen

Its: CEO

KEVIN SCHEWE

KEVIN SCHEWE

NOTICE OF CONVERSION

(To be executed by the Registered Holder in order to convert the Note)

The undersigned hereby elects to convert $40,000.00 of the principal and $ 0 of the
interest due on the Note issued by VIASPACE Inc. on February 19, 2015 into Shares of Common Stock
of VIASPACE Inc. (the “Borrower”) according to the conditions set forth in such Note, as of the
date written below.

Date of Conversion:       February 19, 2015      

Conversion Price:      $0.0042      

Shares To Be Delivered:      9,523,810      

Signature:       KEVIN L. SCHEWE—

Print Name:       Kevin L. Schewe—

Address:      400 Indiana St., Suite 220, Golden, CO 80401      

2Exhibit 10.2 ESRP

Exhibit 10.2

STATE STREET CORPORATION
Executive Supplemental Retirement Plan
(Amended and Restated January 1, 2015)

    

    

 Table of Contents
	
					
	ARTICLE 1
	

	Establishment and Purpose    
	1
	

	1.1
	

	Restatement
	1
	

	1.2
	

	Purpose
	1
	

	1.3
	

	Section 409A
	1
	

	ARTICLE 2
	

	Definitions
	1
	

	2.1
	

	Account
	1
	

	2.2
	

	Account Balance
	1
	

	2.3
	

	Account Vesting Commencement Date
	1
	

	2.4
	

	Active Participant
	1
	

	2.5
	

	Administrative Procedures
	1
	

	2.6
	

	Administrator
	1
	

	2.7
	

	Affiliate
	1
	

	2.8
	

	Annual Credit Date
	1
	

	2.9
	

	Authorized Person
	1
	

	2.10
	

	Basic Plan
	1
	

	2.11
	

	Beneficiary
	1
	

	2.12
	

	Board
	1
	

	2.13
	

	Business Day
	2
	

	2.14
	

	Cause
	2
	

	2.15
	

	Claimant
	2
	

	2.16
	

	Code    
	2
	

	2.17
	

	Committee
	2
	

	2.18
	

	Company
	2
	

	2.19
	

	Company Credit
	2
	

	2.20
	

	Continuing Participant
	2
	

	2.21
	

	Credit Date
	2
	

	2.22
	

	Default Investment Option
	2
	

	2.23
	

	Domestic Partner    
	2
	

	2.24
	

	Early Retirement
	2
	

	2.25
	

	Early Retirement Age    
	2
	

	2.26
	

	Early Retirement Date
	2
	

	2.27
	

	Effective Date
	2
	

	2.28
	

	Eligible Employee
	2
	

	2.29
	

	Employee
	2
	

	2.30
	

	Employer
	2
	

	2.31
	

	Employment
	2
	

	2.32
	

	Equity Plan
	2
	

	2.33
	

	ERISA    
	2
	

	2.34
	

	ESRP Share Award
	3
	

	2.35
	

	Fair Market Value
	3
	

	2.36
	

	FICA Amount    
	3
	

	2.37
	

	Final Company Credit
	3
	

	2.38
	

	Impairment
	3
	

	2.39
	

	Investment Earnings/Losses    
	3
	

	2.40
	

	Investment Election Form
	3
	

	
					
	2.41
	

	Investment Options
	3
	

	2.42
	

	Normal Retirement
	3
	

	2.43
	

	Normal Retirement Age
	3
	

	2.44
	

	Normal Retirement Date
	3
	

	2.45
	

	Operating Group Participant
	3
	

	2.46
	

	Participant
	3
	

	2.47
	

	Plan    
	3
	

	2.48
	

	Plan Year
	3
	

	2.49
	

	Prior Plan
	3
	

	2.50
	

	Reference Date
	3
	

	2.51
	

	Retirement
	3
	

	2.52
	

	Retirement Date
	3
	

	2.53
	

	Schedule
	3
	

	2.54
	

	Section 409A
	4
	

	2.55
	

	Section 409A Compliance
	4
	

	2.56
	

	Separated Participant
	4
	

	2.57
	

	Separation From Service
	4
	

	2.58
	

	Service    
	4
	

	2.59
	

	Spouse
	4
	

	2.60
	

	Stock
	4
	

	2.61
	

	Supplemental Benefits
	4
	

	2.62
	

	Supplemental Defined Benefit
	4
	

	2.63
	

	Supplemental Defined Contribution Benefit
	4
	

	2.64
	

	Top Hat Plan
	4
	

	2.65
	

	Total Disability
	4
	

	2.66
	

	Transition Participant
	4
	

	2.67
	

	Treasury Regulations    
	4
	

	ARTICLE 3
	

	Participation
	4
	

	3.1
	

	Eligibility
	4
	

	3.2
	

	Participation
	5
	

	3.3
	

	Age/Service Requirements for Supplemental Benefits Upon Retirement
	5
	

	3.4
	

	Supplemental Benefits Upon Death
	5
	

	3.5
	

	Supplemental Benefits Upon Total Disability
	5
	

	3.6
	

	Forfeiture
	5
	

	ARTICLE 4
	

	Supplemental Defined Contribution Benefits    
	6
	

	4.1
	

	Company Credits
	6
	

	4.2
	

	Accounts
	8
	

	4.3
	

	Vesting
	9
	

	4.4
	

	Distribution
	9
	

	ARTICLE 5
	

	Special Payment Rules
	10
	

	5.1
	

	Delay in Payment
	10
	

	5.2
	

	Acceleration of Payment
	10
	

	5.3
	

	No Suspension of Payment
	10
	

	5.4
	

	Designation of Taxable Year    
	10
	

	ARTICLE 6
	

	Administration
	11
	

	6.1
	

	Authority of the Committee
	11
	

	
					
	6.2
	

	Outside Services
	11
	

	6.3
	

	Decisions Binding
	11
	

	6.4
	

	Indemnity of Committee
	11
	

	6.5
	

	Cost of Administration
	11
	

	ARTICLE 7
	

	Amendment and Termination    
	11
	

	7.1
	

	Amendment/Termination of Plan    
	11
	

	7.2
	

	Termination of Participant Interests
	12
	

	ARTICLE 8
	

	Miscellaneous
	12
	

	8.1
	

	Claims
	12
	

	8.2
	

	Unfunded Plan
	12
	

	8.3
	

	Unsecured General Creditor    
	12
	

	8.4
	

	Trust Fund
	12
	

	8.5
	

	Nonassignability
	12
	

	8.6
	

	Not a Contract of Employment
	12
	

	8.7
	

	Validity
	12
	

	8.8
	

	Incompetency    
	13
	

	8.9
	

	Successors
	13
	

	8.10
	

	Tax Withholdings
	13
	

	8.11
	

	Governing Law
	13
	

	 
	 
	 

	EXHIBIT A
	

	 
	14
	

	 
	 
	 

	EXHIBIT B
	

	 
	19
	

	 
	Schedule 1
	19
	

	 
	Schedule 2
	20
	

	 
	 
	 

	EXHIBIT C
	

	 
	21
	

		
	ARTICLE 1
	Establishment and Purpose

1.1Restatement.   The Plan is a further amendment and restatement of the Prior Plan, effective as of January 1, 2015, unless otherwise provided.  
1.2Purpose.   The principal purposes of the Plan are to provide certain key Employees with competitive retirement benefits and to encourage the continued employment of such Employees with the Employer.
1.3Section 409A.   The Plan is intended to comply with Section 409A and shall be construed and administered accordingly.

		
	ARTICLE 2
	Definitions

                               
To the extent not otherwise defined in the text of the Plan, including, without limitation, any Exhibits and Schedules of the Plan, capitalized terms shall have the following meaning:
2.1Account.  “Account” means a bookkeeping account (including any subaccounts) maintained by the Administrator for a Participant to record the Participant’s Account Balance from time to time.
2.2Account Balance.  “Account Balance” means the value of an Account, as credited and/or debited in accordance with Article IV, from time to time.
2.3Account Vesting Commencement Date.  “Account Vesting Commencement Date” shall mean the date an Active Participant meets the Age/Service Requirements for Supplemental Plan Benefits upon Retirement set forth in Section 4.3(a).
2.4Active Participant.  “Active Participant” means an Eligible Employee who is participating in the Plan and who has not experienced a Separation from Service, Total Disability or death.
2.5Administrative Procedures.  “Administrative Procedures” means the policies and procedures established by the Committee and/or the Administrator from time to time governing elections to participate in the Plan, maintenance of Accounts, Investment Options, calculation of Investment Earnings/Losses, Investment Election Forms, distributions from the Plan and such other matters as are necessary for the proper administration of the Plan.
2.6Administrator.  “Administrator” means that person or persons, including a committee, as is or are delegated by the Board from time to time to discharge the responsibility of administering the Plan.
2.7Affiliate.  “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).
2.8Annual Credit Date.  “Annual Credit Date” means, with respect to a Plan Year, the date of the first regularly scheduled meeting of the Committee that occurs after February 1 of the immediately following Plan Year.
2.9Authorized Person.  “Authorized Person” means, effective for actions taken on or after August 1, 2012, the Authorized Person appointed pursuant to Section 6.1(b).
2.10Basic Plan.  “Basic Plan” means, effective for determinations made on or after January 1, 2013, the State Street Salary Saving Program as the same may be amended from time to time for all purposes except with respect to i) Exhibit A, and ii) Exhibit B- Schedule 1, in which cases the Basic Plan shall mean the State Street Retirement Plan as the same may be amended from time to time.
2.11Beneficiary.  “Beneficiary” means the beneficiary designated to receive a death benefit by the Participant 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.
2.12Board.  “Board” means the Board of Directors of the Company.

1

2.13Business Day.  “Business Day” means each day that the New York Stock Exchange is open for business.
2.14Cause.  “Cause” means, in the case of any Participant:
		
	(i)
	the willful and continued failure of the Participant to perform substantially the Participant’s duties with the Employer (other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Participant by the Participant’s supervisor which specifically identifies the manner in which it is asserted that the Participant has not substantially performed the Participant’s duties, or

		
	(ii)
	the willful engaging by the Participant in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Employer.

For purposes of this definition, no act or failure to act on the part of the Participant shall be considered “willful” unless it is done or omitted to be done by the Participant in bad faith or without reasonable belief that the Participant’s action or omission was in the best interests of the Employer.
2.15Claimant.  “Claimant” has the meaning set forth in Section 8.1.
2.16Code.  “Code” means the Internal Revenue Code of 1986, as the same may be amended from time to time.
2.17Committee.  “Committee” means the Executive Compensation Committee of the Board.
2.18Company.  “Company” means State Street Corporation and any successor company.
2.19Company Credit.  “Company Credit” means a notional amount credited to a Participant’s Account in accordance with Section 4.1.
2.20Continuing Participant.  “Continuing Participant” means an Active Participant in the Prior Plan on December 31, 2007.
2.21Credit Date.  “Credit Date” means, as applicable, the Annual Credit Date or the Final Credit Date.
2.22Default Investment Option.  “Default Investment Option” means the default investment option specified from time to time by the Committee for the hypothetical investment of a Participant’s Account in the event the Participant fails to allocate all or a portion of his or her Account to a particular Investment Option.
2.23Domestic Partner.  “Domestic Partner” means the person designated in a manner and form satisfactory to the Administrator as the Participant’s domestic partner with respect to eligibility for company‐provided benefits.
2.24Early Retirement.  “Early Retirement” means a Participant’s Separation From Service upon or after the Participant’s attainment of Early Retirement Age and prior to the Participant’s attainment of Normal Retirement Age but excluding a Separation From Service for Cause.
2.25Early Retirement Age.  “Early Retirement Age” means age 53.
2.26Early Retirement Date.  “Early Retirement Date” means the date of a Participant’s Early Retirement.
2.27Effective Date.  “Effective Date” means January 1, 2008.
2.28Eligible Employee.  “Eligible Employee” means an Employee who is appointed to the office of Executive Vice President of the Company or to a position superior to that of Executive Vice President of the Company.
2.29Employee.  “Employee” means an individual who renders services to the Employer (or who has rendered services to the Employer but is currently subject to an Impairment) as a common-law employee.
2.30Employer.  “Employer” means the Company and its Affiliates.
2.31Employment.  “Employment” means the period or periods during which a Participant is an Employee of the Employer and has not experienced a Separation From Service.
2.32Equity Plan.  “Equity Plan” means the 2006 Equity Incentive Plan, as may be amended from time to time, or such other equity plan of the Company as the Committee may designate from time to time.
2.33ERISA.  “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and any successor act thereto.

2

2.34ESRP Share Award.  “ESRP Share Award” has the meaning set forth in Section 4.1(b).
2.35Fair Market Value.  “Fair Market Value” of a share of Stock on any given day shall mean closing price per share of Stock on the New York Stock Exchange, on the date as of which such value is being determined or, if there shall be no sale on that date, then on the basis of the closing price per share of Stock on the nearest date before the date on which such value is being determined.
2.36FICA Amount.  “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 compensation under the Plan.
2.37Final Company Credit.  “Final Company Credit” has the meaning set forth in Section 4.1(a)(iii).
2.38Impairment.  “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.
2.39Investment Earnings/Losses.  “Investment Earnings/Losses” means the amounts that would have been realized had an amount deferred hereunder actually been invested in the Investment Option or Options selected by a Participant during the effectiveness of such selections.
2.40Investment Election Form.  “Investment Election Form” means such form or other means designated by the Company from time to time by which a Participant elects the Investment Options in which the Participant’s Account is deemed to be invested in accordance with Section 4.2.
2.41Investment Options.  “Investment Options” means the Default Investment Option and such other investment options as selected from time to time by the Committee that are used as hypothetical investment options among which the Participant may allocate all or a portion of his or her Account.
2.42Normal Retirement.  “Normal Retirement” means a Participant’s Separation From Service upon or after the Participant’s Normal Retirement Age, other than a Separation From Service for Cause.
2.43Normal Retirement Age.  “Normal Retirement Age” means age 65.
2.44Normal Retirement Date.  “Normal Retirement Date” means the date of a Participant’s Normal Retirement.
2.45Operating Group Participant.  “Operating Group Participant” means, in respect of a Plan Year, an Active Participant who is identified in the records of the Committee as being a member of the Company’s Operating Group during the Plan Year (or a portion thereof) or otherwise designated by the Committee to be a member of the Operating Group.
2.46Participant.  “Participant” means an Active Participant or a Separated Participant (for so long as he or she is receiving a distribution of Supplemental Benefits under the Plan).
2.47Plan.  “Plan” means this State Street Corporation Executive Supplemental Retirement Plan (including the Exhibits and Schedules hereto and the Committee actions referenced herein), as the same may be amended from time to time in accordance with the terms hereof.
2.48Plan Year.  “Plan Year” means the calendar year.
2.49Prior Plan.  “Prior Plan” means the terms of the Plan (formerly known as the “State Street Corporation Supplemental Defined Benefit Pension Plan”) in effect immediately prior to the Effective Date, as set forth in the Company’s written documentation, rules, practices and procedures applicable to the Plan.
2.50Reference Date.  “Reference Date” means, effective for all determinations made on or after October 1, 2012, a date that is as soon as administratively feasible but no later than 5 business days prior to each applicable payment date specified in Section 4.4; provided that if a Reference Date is not a Business Day, such Reference Date shall be deemed to be the immediately following Business Day.
2.51Retirement.  “Retirement” means Normal Retirement or Early Retirement.
2.52Retirement Date.  “Retirement Date” means the date of a Participant’s Normal Retirement or Early Retirement, as applicable.
2.53Schedule.  “Schedule” means, in the case of any Participant to whom the “separate rule” provisions of Section 3.2(c) below apply, an attachment to the Plan or a separate action of the Committee duly recorded in the Committee’s records that sets forth identifying information concerning the separate rules applicable to such Participant.

3

2.54Section 409A.  “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.
2.55Section 409A Compliance.  “Section 409A Compliance” has the meaning set forth in Section 7.1.
2.56Separated Participant.  “Separated Participant” means an Active Participant who has experienced a Separation From Service, Total Disability or death.
2.57Separation From Service.  “Separation From Service” means a separation from service with the Employer 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 an Active Participant is absent from work due to an Impairment, other than a Total Disability, where such Impairment causes the Participant to be unable to perform the duties of his position or any substantially similar position of employment, the Participant shall incur a Separation From Service 29 months after the date on which the Participant was first Impaired.  Notwithstanding the foregoing, if an Active Participant 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).
2.58Service.  “Service” means, effective for all determinations made on or after August 1, 2012, a Participant’s years (and fraction thereof) of service with the Employer for vesting and eligibility (as determined under the terms of the Basic Plan as in effect on the Effective Date).  For the avoidance of doubt, for any Participant who was terminated at any time and subsequently rehired on or after August 1, 2012, only Service after rehire will be counted.
2.59Spouse.  “Spouse” means the individual (if any) who is legally married to the Participant at the time that payment of the Participant’s Supplemental Benefits commences or at death if death occurs prior to such benefit commencement date.
2.60Stock.  “Stock” means common stock of the Company, par value $1.00 per share.
2.61Supplemental Benefits.  “Supplemental Benefits” means Supplemental Defined Benefits and/or Supplemental Defined Contribution Benefits.
2.62Supplemental Defined Benefit.  “Supplemental Defined Benefit” means the benefits provided under Exhibit A and Exhibit B to the Plan and any Schedule to the Plan.
2.63Supplemental Defined Contribution Benefit.  “Supplemental Defined Contribution Benefit” means the benefits provided under Article IV of this Plan.
2.64Top Hat Plan.  “Top Hat Plan” means an unfunded plan maintained primarily to provide deferred compensation benefits to a select group of management or highly compensated Employees within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.
2.65Total Disability.  “Total Disability” or “Totally Disabled” means (i) a Participant’s 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 Participant’s 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 Employer.
2.66Transition Participant.  “Transition Participant means a Continuing Participant (i) who, as of the Effective Date, (x) was at least age 50 and (y) has been employed with the Employer for at least five years as an Executive Vice President (or superior position) or (ii) who is otherwise identified as a Transition Participant in the records of the Committee.
2.67Treasury Regulations.  “Treasury Regulations” means the regulations adopted by the Internal Revenue Service under the Code, as they may be amended from time to time.

ARTICLE 3Participation

3.1Eligibility.  Subject to Section 3.2, all Eligible Employees shall participate in the Plan unless the Committee specifies otherwise in a particular case.  The Committee may designate other Employees as 

4

eligible to participate in the Plan, but only if they are management or highly compensated employees as those terms are used in Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.
3.2Participation.
(a)Continuing Participants shall continue to participate under the Plan in accordance with the terms hereof.
(b)Except as otherwise provided by the Committee, each Eligible Employee who became an Eligible Employee on or after January 1, 2007 and who is not a Continuing Participant shall become an Active Participant upon the earlier of the (i) Effective Date and (ii) the effective date of his or her becoming an Eligible Employee.
(c)The Committee may determine that separately applicable rules (or exceptions to the generally applicable rules) (the “separate rules”) shall apply to certain Participants.  Such Participants and the relevant separate rules are set forth on Exhibits A and B to the Plan and in any Schedules to the Plan.  With respect to any such Participant, the separate rules applicable to such Participant shall be treated as part of the Plan, shall be incorporated herein by reference, and shall apply, in a manner that results in Section 409A Compliance, in lieu of the generally applicable rules set forth below to the extent of any inconsistency.
(d)Participation in the Plan as an Active Participant is terminable by the Committee, in its discretion, upon written notice to the Active Participant, and such termination of participation shall be effective as of the date contained therein, but in no event earlier than the date of such notice; provided, however, that such termination of participation may not reduce or adversely affect an Active Participant’s accrued benefit for which the Active Participant has satisfied the age and service requirements of Section 3.3 hereunder.

3.3Age/Service Requirements for Supplemental Benefits Upon Retirement.  
(a)    Any Participant who became an Eligible Employee before August 1, 2012 shall be eligible to receive a Supplemental Benefit in connection with Retirement only if he or she has (i) attained Early Retirement Age and (ii) satisfied the “rule of 60” (age plus completed years of Service must equal at least 60).
(b)    Any Participant hired or rehired, or first elected an Executive Vice President (or to a superior position), on or after August 1, 2012, shall be eligible to receive a Supplemental Benefit in connection with Retirement only if he or she has (i) attained Early Retirement Age, (ii) satisfied the “rule of 60” (age plus completed years of Service must equal at least 60), and (iii) has completed a minimum of 5 years of Service.
3.4Supplemental Benefits Upon Death.  In the event of an Active Participant’s death prior to satisfying the age and service requirement of Section 3.3, the Supplemental Benefits set forth in Section 4.4(b) and, if applicable, Section A.2.4 of Exhibit A, shall be payable to the Participant’s designated Beneficiary.  
3.5Supplemental Benefits Upon Total Disability.  In the event that an Active Participant becomes Totally Disabled prior to meeting the age and service requirements set forth in Section 3.3, the Supplemental Benefits set forth in Section 4.4(c) and, if applicable, Section A.2.5 of Exhibit A, shall be payable to the Participant.  
3.6Forfeiture.  
(a)Failure to Satisfy Age/Service Requirements.  In the event of a Participant’s Separation From Service prior to satisfying the age and service requirements of Section 3.3, such Participant shall forfeit his or her right to receive any and all Supplemental Benefits set forth in this Plan.  For the avoidance of doubt, if a Participant is rehired by the Employer, the Supplemental Benefits forfeited upon such Participant’s Separation From Service shall remain forfeited.
(b)Nonsolicitation/Noncompetition.  Notwithstanding any other provisions hereof, all payments of Supplemental Benefits shall immediately cease and neither Participant nor his or her Spouse, nor any other Beneficiary of the Participant shall receive any benefits hereunder if the Participant, without the prior written consent of the Committee, engages, either directly or indirectly, in any of the activities described in subparagraph (i), (ii) or (iii) below within two years after his or her Separation From Service:

5

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

		
	(ii)
	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 Employer, other than for the Employer’s account, during the two‐year period after the Participant’s Separation From Service, to or with anyone with whom the Employer has so dealt or anywhere in any state of the United States or in any other country, territory or possession in which the Employer has, during said period, sold, offered or negotiated with respect to orders or contracts for any such product, service, equipment or system; or

		
	(iii)
	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 the Participant’s Separation From Service, either directly or indirectly, in any of the activities described in subparagraph (i) or (ii) above.

ARTICLE 4Supplemental Defined Contribution Benefits

4.1Company Credits.
(a)Generally.  For Plan Years commencing on and after the Effective Date, an Active Participant shall be entitled to receive Company Credits as follows:
		
	(i)
	An Active Participant who was a Participant for an entire Plan Year shall receive a Company Credit in the amount of $200,000 on the Annual Credit Date for the Plan Year to his or her Account; provided, however, that the Company Credit received under this Section 4.1(a)(i) for the 2013 Plan Year shall be in the amount of $100,000 and shall not be provided to an Active Participant who is an Operating Group Participant; provided, further, there shall be no Company Credit under this Section 4.1(a)(i) for any Participant for the 2015 Plan Year.

		
	(ii)
	An Active Participant who became an Active Participant during a Plan Year shall receive for such Plan Year a Company Credit equal to the product of (x) $200,000 and (y) a fraction, the numerator of which is the number of complete calendar months in the Plan Year during which the Active Participant was an Active Participant, and the denominator of which is twelve; provided, however, that the Company Credit received under this Section 4.1(a)(ii) for the 2013 Plan Year shall be equal to the product of (x) $100,000 and (y) a fraction, the numerator of which is the number of complete calendar months in the Plan Year during which the Active Participant was an Active Participant but not an Operating Group Participant, and the denominator of which is twelve; provided, further, there shall be no Company Credit under this Section 4.1(a)(ii) for any Participant for the 2015 Plan Year.  Any such Company Credit shall be credited to the Active Participant’s Account on the Annual Credit Date for the relevant Plan Year.

		
	(iii)
	An Active Participant who becomes a Separated Participant due to Retirement, death or Total Disability during a Plan Year shall receive a Company Credit equal to the product of (x) $200,000 and (y) a fraction, the numerator of which is the number of complete calendar months in the Plan Year when such Participant was an Active Participant prior to (I) the Active Participant’s Retirement Date, (II) the date of the Active Participant’s death or (III) the date the Active Participant became Totally Disabled, as applicable, and the denominator of which is twelve; provided, however, that the Company Credit received under this Section 4.1(a)(iii) for the 2013 Plan Year shall be equal to the product of (x) $100,000 and (y) a fraction, the 

6

numerator of which is the number of complete calendar months in the Plan Year when such Participant was an Active Participant but not an Operating Group Participant prior to (I) the Active Participant's Retirement Date, (II) the date of the Active Participant's death or (III) the date the Active Participant became Totally Disabled, as applicable, and the denominator of which is twelve)  ; provided, further, there shall be no Company Credit under this Section 4.1(a)(iii) for any Participant for the 2015 Plan Year.   Any such prorated Company Credit shall be credited to the Participant’s Account on the last Business Day of the month in which the Participant’s Retirement, death or Total Disability occurred (the “Final Credit Date”).
(b)Operating Group Participants.  An Operating Group Participant shall be entitled to receive the following for Plan Years commencing on and after the Effective Date:
		
	(i)
	An Active Participant who is an Operating Group Participant for an entire Plan Year shall be granted on the Annual Credit Date for such Plan Year a deferred share unit award under the Equity Plan (an “ESRP Share Award”) with a Fair Market Value on such Annual Credit Date equal to $200,000; provided, however, there shall be no ESRP Share Award under this Section 4.1(b)(i) for the 2015 Plan Year.  The terms of the ESRP Share Award shall, in a manner that results in Section 409A Compliance, provide that the award will vest in accordance with Section 4.3 of the Plan and the underlying shares of Stock will be settled to the Operating Group Participant in accordance with Section 4.4 of the Plan, subject, in each case, to Section 7 of the Equity Plan or any successor provision.  In addition, the ESRP Share Award shall provide for dividend equivalents.  The other terms of the ESRP Share Award shall be governed by the Equity Plan.

		
	(ii)
	An Active Participant who is an Operating Group Participant for a portion of a Plan Year, other than an Active Participant who becomes a Separated Participant during the Plan Year, shall receive an ESRP Share Award with a Fair Market Value on such Annual Credit Date equal to the product of (x) $200,000 and (y) a fraction, the numerator of which is the number of complete calendar months in the Plan Year during which the Active Participant was an Operating Group Participant and the denominator of which is twelve; provided, however, there shall be no ESRP Share Award under this Section 4.1(b)(ii) for the 2015 Plan Year.  Any such ESRP Share Award shall be granted to the Active Participant on the Annual Credit Date for the relevant Plan Year.

		
	(iii)
	An Active Participant who becomes a Separated Participant due to Retirement, death or Total Disability during a Plan Year at a time when he/she is an Operating Group Participant, shall not be entitled to an ESRP Share Award in respect of such Plan Year but instead for the period of the Plan Year, if any, when the Active Participant was an Operating Group Participant shall be entitled to receive a Company Credit  equal to the product of (x) $200,000 and (y) a fraction, the numerator of which is the number of complete calendar months in the Plan Year when the Active Participant was an Operating Group Participant prior to (I) the Operating Group Participant's Retirement Date, (II) the date of the Operating Group Participant's death or (III) the date the Operating Group Participant became Totally Disabled, as applicable, and the denominator of which is twelve; provided, however, there shall be no Company Credit under this Section 4.1(b)(iii) for the 2015 Plan Year.  Any such prorated Company Credit shall be credited to the Participant's Account on the Final Credit Date.

For the avoidance of doubt, an Operating Group Participant shall also be entitled to Company Credits pursuant to Section 4.1(a); provided, however that for the 2013 Plan Year, an Operating Group Participant shall not be entitled to Company Credits pursuant to Section 4.1(a) for any period during a Plan Year when the Active Participant was an Operating Group Participant; provided, further, there shall be no Company Credit under Section 4.1(a) for any Participant for the 2015 Plan Year.
(c)Transition Participants.  Notwithstanding Section 4.1(a) and Section 4.1(b) above, Company Credits (including any Final Company Credits) shall not be credited to the Account of a 

7

Transition Participant and ESRP Share Awards shall not be granted to a Transition Participant in respect of any period commencing prior to the Freeze Date applicable to the Transition Participant.  A Transition Participant shall continue to earn a Supplemental Defined Benefit in accordance with the relevant terms of the Plan (including any Schedules hereto) until the Freeze Date applicable to the Transition Participant.
(d)Adjustment by Committee.  Notwithstanding anything to the contrary in Section 4.1(a) and 4.1(b) above, the Committee shall have the discretion to adjust, in a manner that results in Section 409A Compliance:  (i) the amount of a Company Credit (including any Final Company Credits or ESRP Share Award credited or granted, as applicable, in respect of a Participant’s status as an Active Participant or an Operating Group Participant for a portion of a Plan Year); and (ii) the medium of settlement of an ESRP Share Award, in each case, to the extent necessary to avoid adverse tax consequences to an Operating Group Participant; provided, however, that in no event shall such adjustment diminish the economic benefit to the Participant of a Company Credit or an ESRP Share Award without the Participant’s consent.
4.2Accounts.
(a)Generally.  An Account shall be established and maintained under the Plan on behalf of each Participant.  The Account shall track the Company Credits (including any Final Company Credits), Investment Earnings/Losses, distributions or other elections applicable to such accounts.  The Account shall have subaccounts, established and maintained as appropriate to reflect the Company Credits and Investment Option(s) selected by the Participant.
(b)Crediting/Debiting of Account.  A Company Credit (including any Final Company Credits) shall be credited to a Participant’s Account in accordance with the Administrative Procedures; provided that a Company Credit shall not be credited or debited with Investment Earnings/Losses prior to the applicable Credit Date for such Company Credit.  A Participant’s Account shall be credited or debited with Investment Earnings/Losses based upon the Investment Options selected by the Participant pursuant to Section 4.2(c) and in accordance with the Administrative Procedures.
(c)Election of Investment Options.  A Participant shall elect, in accordance with the Administrative Procedures, one or more Investment Option(s) from a menu of Investment Options provided by the Committee to be used to determine Investment Earnings/Losses credited or debited to his or her Account.  A Participant may reallocate the existing balance of his or her Account among the available Investment Options and change Investment Options with respect to future deferrals under the Plan in accordance with the Administrative Procedures.  In the event that a Participant fails to select one or more Investment Options for all or a portion of his or her Account (including in the situation where the Investment Option is discontinued and the Participant fails to designate an alternative in accordance with the Administrative Procedures), such amounts shall be deemed invested in the Default Investment Option.  Notwithstanding the foregoing, the Final Company Credits credited to the Account of a Participant on the Final Credit Date in connection with his or her death or Total Disability shall not be deemed invested in any Investment Option.
(d)Investment Options.  The Committee shall select the Investment Options.  The Committee shall be permitted to add, remove or change Investment Options, as it deems appropriate; provided that any such addition, deletion or change shall not be effective with respect to any period prior to the effective date of the change.  Each Participant, as a condition to his or her participation in the Plan, agrees to indemnify and hold harmless the Committee, the Administrator and the Company, and their agents and representatives, from any losses or damages of any kind relating to the Investment Options made available hereunder.
(e)Crediting or Debiting Method.  The performance of each elected Investment Option (either positive or negative) will be determined based on the performance of the actual Investment Option.  A Participant’s Account shall be credited or debited with Investment Earnings/Losses as determined by the Administrator in accordance with the Administrative Procedures.  The Administrator shall establish procedures for valuing the balance of a Participant’s Account, from time to time, including upon distribution, in accordance with the Administrative Procedures.
(f)No Actual Investment.  Notwithstanding any other provision of the Plan, the Investment Options are to be used for measurement purposes only, and a Participant’s election of any such Investment Options and the crediting or debiting of Investment Earnings/Losses to a Participant’s Account shall not be considered or construed in any manner as an actual investment of his or her Account in any such Investment Options.  In the event that the Company decides to invest funds in any or all of the Investment Options, no Participant shall have any rights in or to such investments themselves.  Without limiting the foregoing, a Participant’s Account shall at all times be a bookkeeping entry only and shall not 

8

represent any investment made on his or her behalf by the Company.  The Participant shall at all times remain an unsecured creditor of the Company.
4.3Vesting
.
(a)Generally.  An Active Participant shall commence vesting in his or her Account on the date that the Active Participant (i) attains Early Retirement Age and (ii) satisfies the requirements under Section 3.3 (the “Age/Service Requirements for Supplemental Benefits Upon Retirement Date”).  An Active Participant shall vest on a cumulative basis in one-third (33.3%) of his or her Account on the Account Vesting Date, and each of the Active Participant’s first two birthdays immediately subsequent to the Account Vesting Commencement Date.  Notwithstanding the foregoing, a Continuing Participant who was first elected an Executive Vice President (or to a superior position) prior to March 1, 2000 shall immediately vest in full in his or her Account on the date such Continuing Participant attains Early Retirement Age.
(b)Death.  In the event of an Active Participant’s death, the Active Participant shall become fully vested in his or her Account effective as of the date of the Active Participant’s death.
(c)Total Disability.  If an Active Participant becomes Totally Disabled, the Active Participant shall become fully vested effective as of the date the Active Participant became Totally Disabled.
4.4Distribution
(a)Retirement.  
		
	(i)
	Upon an Active Participant’s Retirement, the vested balance of the Participant’s Account, other than the ESRP Share Award if applicable, shall be payable to the Participant in cash in three installment payments.  The amount of each cash installment payment shall be the amount determined by multiplying the value of a Participant’s Account, other than the ESRP Share Award if applicable, calculated as of the close of business on the applicable Reference Date by a fraction, the numerator of which is one and the denominator of which is the remaining number of payments due to the Participant.  The installment payments shall be made on the following dates:  (I) the first Business Day of the month coinciding with or following the date that is six months after the Participant’s Retirement Date; (II) the first Business Day of the month coinciding with or following the first anniversary of the Participant’s Retirement Date; and (III) the first Business Day of the month coinciding with or following the second anniversary of the Participant’s Retirement Date, or, in each case, as soon as administratively feasible thereafter in a manner that is consistent with Section 409A Compliance.

		
	(ii)
	Upon an Active Participant’s Retirement, the vested balance of the Participant’s ESRP Share Award if applicable shall be distributed to the Participant in the form of shares of Stock, also in three installment payments.  The number of shares in any installment payment of an ESRP Share Award if applicable shall the total number of shares under such Award remaining unpaid on the applicable Reference Date multiplied by a fraction, the numerator of which is one and the denominator of which is the remaining number of payments due to the Participant.  The installment payments shall be payable on the following dates: (I) the first Business Day following the date that is six months after the Participant’s Retirement Date, (II) the first Business Day coinciding with or following the first anniversary of the Participant’s Retirement Date, and (III) the first Business Day coinciding with or following the second anniversary of the Participant’s Retirement Date, or, in each case, as soon as administratively feasible thereafter in a manner that is consistent with Section 409A Compliance.

(b)Death.
		
	(i)
	Upon the death of an Active Participant, the balance of the Active Participant’s Account, calculated as of the close of business on the Reference Date, shall be paid to the Active Participant’s Beneficiary in a single lump sum cash distribution within 90 days following the date of the Active Participant’s death.

9

		
	(ii)
	Upon the death of a Separated Participant, the Committee shall commute any or all remaining payments to the Separated Participant’s Beneficiary by paying the remaining balance of the Separated Participant’s Account, calculated as of the close of business on the Reference Date, in a single lump sum cash distribution within 90 days following the date of the Separated Participant’s death.

(c)Total Disability.   Upon the Total Disability of an Active Participant, the balance of the Active Participant’s Account, , including the ESRP Share Award if applicable, calculated as of the close of business on the Reference Date, shall be paid to the Active Participant in a single lump sum cash distribution as soon as administratively feasible following the date on which the Active Participant becomes Totally Disabled, and in any event by the later of (I) the fifteenth day of the third month following the date on which the Participant becomes Totally Disabled, or (II) the end of the calendar year in which the Participant becomes Totally Disabled, in a manner that is consistent with Section 409A Compliance, provided the Active Participant has remained Totally Disabled through the date of payment.

ARTICLE 5Special Payment Rules
5.1Delay in Payment.  Notwithstanding anything in the Plan to the contrary, neither the Committee nor the Administrator shall have the discretionary authority to delay payment of Supplemental Benefits, except to the extent that the Administrator determines, in its discretion, that any such delay can be effected in a manner that results in Section 409A Compliance (as hereinafter defined).  Without limiting the generality of the foregoing, payment of the Supplemental Benefits may be delayed, at the discretion of the Committee or Administrator, to the extent that the Committee or the Administrator reasonably anticipates that (i) if payment were made as scheduled, the Employer’s deduction with respect to such payment would not be permitted due to the application of Section 162(m) of the Code, or (ii) payment of the Supplemental Benefits would violate federal securities laws or other applicable law.  Payment of any amount delayed pursuant to this Section 5.1 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.
5.2Acceleration of Payment.
(a)Notwithstanding anything in the Plan to the contrary, neither the Committee nor the Administrator shall have the discretionary authority to accelerate payment of any Supplemental Benefits except as set forth in the remainder of this Section 5.2(a) or to the extent the Committee or the Administrator determines, in its discretion, that any such acceleration may be effected in a manner that results in Section 409A Compliance.
(b)The Administrator may, in a manner that results in Section 409A Compliance, determine to accelerate the time or schedule of a Participant’s distribution to pay (i) the FICA Amount and/or (ii) 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 5.2(b) may not exceed the aggregate of the FICA Amount and the income tax withholding related to such FICA Amount.
(c)The Administrator may, in a manner that results in Section 409A Compliance, determine to accelerate the time or schedule of a Participant’s distribution if at any time the Plan, as applicable to such Participant, 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.
5.3No Suspension of Payment.  Notwithstanding anything to the contrary in the Plan, in the event (i) a Separated Participant is subsequently rehired by the Employer or (ii) a Separated Participant who was Totally Disabled subsequently recovers and recommences performing services for the Employer, the payment of such Separated Participant’s Supplemental Benefits accrued prior to such Separation From Service or Total Disability shall not be suspended or otherwise delayed.
5.4Designation of Taxable Year.  In no event may any Participant or any Beneficiary designate the taxable year of payment of any Supplemental Benefits.  The timing of payment of a Participant’s Supplemental Benefits shall be determined by the Committee, in its sole discretion, in accordance with the provisions of the Plan and in a manner that results in Section 409A Compliance.

10

		
	ARTICLE 6
	Administration

6.1Authority of the Committee.  
		
	(a)
	Authority of the Committee.  The Administrator of the Plan shall be the Committee.  The Administrator shall have complete discretionary authority to interpret the Plan and to decide all matters under the Plan.  Such interpretation and decision shall be final, conclusive and binding on all Participants and any person claiming under or through any Participant, in the absence of clear and convincing evidence that the Administrator acted arbitrarily and capriciously.  The Administrator shall establish such rules and procedures, maintain such records and prepare such reports as it considers to be necessary or appropriate to carry out the purposes of the Plan.  As the Administrator, the Committee’s powers and duties shall include, but shall not be limited to, permitting the acceleration of vesting in individual cases in its sole and exclusive direction.

		
	(b)
	Authorized Person.  Except as the Committee may otherwise determine, the Authorized Person shall be the Executive Vice President-Global Human Resources, as from time to time in office, and his or her delegates.  The Authorized Person shall have the power and responsibility to (i) undertake routine administrative tasks related to the Plan, (ii) make amendments to the Plan (in general or with respect to one or more individual Participants or Beneficiaries) that are administrative in nature and that do not materially increase the financial obligations of the Employer, and (iii) add, remove or change investment options (including with respect to balances already notionally invested) under the Plan.  References to “Committee” in Sections 6.2, 6.3 and 6.4 below shall be deemed to include the Authorized Person acting within the scope of his or her responsibilities as described in the immediately preceding sentence.

		
	(c)
	Notwithstanding any other provision in this Section, no individual acting, directly or by delegation (including, for the avoidance of doubt, the Authorized Person), as the Administrator may determine his or her own rights or entitlements under the Plan.

6.2Outside Services.  The Committee may engage counsel and such clerical, financial, investment, accounting, and other specialized services as the Committee may deem necessary or appropriate in the administration of the Plan.  The Committee shall be entitled to rely upon any opinions, reports, or other advice furnished by counsel or other specialists engaged for that purpose and, in so relying, shall be fully protected by the Company in any action, determination, or omission made in good faith.
6.3Decisions Binding.  The decision or action of the Committee with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and any rules or guidelines made in connection with the Plan shall be final, binding and conclusive upon all persons and entities having or claiming any interest in the Plan.
6.4Indemnity of Committee.  The Company shall indemnify and hold harmless the Committee and its individual members against any and all claims, loss, damage, expense or liability arising from any action or failure to act with respect to the Plan.
6.5Cost of Administration.  The Company shall bear all expenses of administration of the Plan.

		
	ARTICLE 7
	Amendment and Termination

7.1Amendment/Termination of Plan.  Subject to Section 7.2 below, the Company hereby reserves the right to amend, modify or terminate the Plan at any time by action of a majority of the members of the Committee.   In addition, the Authorized Person shall have the right at any time and from time to time to make amendments to the Plan as specified in Section 6.1(b).  Except as described below in this Article 7, no such amendment or termination shall in any material manner reduce or adversely affect any Participant’s accrued benefit without the consent of the Participant.  Upon termination of the Plan, payment of a Participant’s Supplemental Benefits shall be made in accordance with the terms of the Plan and the elections in effect prior to such termination, unless the Board or the Committee, in its discretion, determines to accelerate payment, and such acceleration may be effected in a manner that will not cause any Participant or Beneficiary to 

11

recognize income for U.S. federal income tax purposes prior to the time of a distribution of Supplemental Benefits or to incur interest or additional tax under Section 409A (“Section 409A Compliance”).
7.2Termination of Participant Interests.  The Plan is intended to be a Top Hat Plan and therefore to be exempt from the provisions of Parts 2, 3 and 4 of Subtitle B of Title I of ERISA.  Accordingly, subject to Section 7.1 above, the Board may terminate the Plan and commence termination distributions for all or certain Participants, or remove certain Employees as Participants, if it is determined by the United States Department of Labor, or a court of competent jurisdiction, that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA which is not so exempt.  If distribution is commenced pursuant to the operation of this Article 7, the payment of such amounts shall be made consistent with Section 7.1.

		
	ARTICLE 8
	Miscellaneous

8.1Claims.  If a Participant or his or her Beneficiary or the authorized representative of one of the foregoing (hereinafter, the “Claimant”) does not receive the timely payment of the benefits which he or she believes are due under the Plan, the Claimant may make a claim for benefits in accordance with the Claims Procedures set forth on Exhibit C to this Plan.  Notwithstanding Section 7.1, the Claims Procedures may be amended by the Administrator from time to time.
8.2Unfunded Plan.  It is intended that this Plan’s status as a Top Hat Plan shall not be adversely affected by the establishment of any trust pursuant to Section 8.4.
8.3Unsecured General Creditor.  No Participant, nor any Spouse, Domestic Partner or other Beneficiaries of a Participant, shall have any legal or equitable right, interest or claim in any property or assets of the Employer, other than that of an unsecured general creditor of the Employer.  Without limiting the generality of the foregoing, no such person shall have any right, claim or interest in any life insurance policies, annuity contracts or the proceeds therefrom owned or which may be acquired by the Employer.  Except as provided in Section 8.4, such policies, annuity contracts or other assets of the Employer shall not be held under any trust for the benefit of a Participant, his or her Beneficiaries, heirs, successors or assigns, or held, in any way, as collateral security for the fulfilling of any obligations of the Employer under this Plan.  The Employer’s assets shall be, and shall remain for purposes of this Plan, the general assets of the Employer.  The Employer’s obligation under this Plan shall be that of an unfunded and unsecured promise to pay money in the future.
8.4Trust Fund.  At its discretion and in a manner intended to result in Section 409A Compliance, the Employer may establish one or more grantor trusts, with such trustees as the Committee may approve, for the purpose of providing for the payment of benefits under this Plan.  Such trust or trusts may be irrevocable, but the assets thereof shall be subject to the claims of the Employer’s general creditors in the event of bankruptcy or insolvency of the grantor.  To the extent any benefits provided under this Plan are actually paid from any such trust, the Employer shall have no further obligation with respect to the benefits so paid, but to the extent not so paid, such benefits shall remain the obligation of, and shall be paid by, the Employer.
8.5Nonassignability.  Neither a Participant nor any other person shall have any right to sell, assign, transfer, pledge, anticipate, mortgage, or otherwise encumber, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are, expressly declared to be nonassignable and nontransferable.  No part of the amount payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, nor shall such amounts or rights to such amounts be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency.
8.6Not a Contract of Employment.  The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between the Employer and any Participant, and the Participants (and a Participant’s Spouse, Domestic Partner or other Beneficiaries) shall have no rights against the Employer except as may otherwise be specially provided herein.  Moreover, nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of the Employer or to interfere with the right of the Employer to discipline or discharge any Participant at any time.
8.7Validity.  If any provision of this Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced, in a manner 

12

intended to result in Section 409A Compliance, as if such illegal and invalid provision had never been inserted herein.
8.8Incompetency.  If the Committee determines in its discretion that a payment under the Plan is to be paid to a minor, a person declared incompetent or a person incapable of handling the disposition of such person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person.  Any payment of a benefit shall be a payment for the account of the Participant and the Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount.
8.9Successors.  The provisions of this Plan shall bind and inure to the benefit of the Employer and its successors and assigns, and the Employer shall require all its successors and assigns to expressly assume its obligations hereunder.  The term “successors,” as used herein, shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise, acquire all or substantially all of the business and assets of the Employer.
8.10Tax Withholdings.  The Employer shall have the right to deduct from payments made pursuant to the Plan amounts sufficient to satisfy federal, state and local income and/or employment tax withholding requirements.
8.11Governing Law.  The provisions of this Agreement shall be construed and interpreted according to the laws of the Commonwealth of Massachusetts except as preempted by federal law.

IN WITNESS WHEREOF, the Employer has caused this instrument to be executed by its duly authorized officer on the 22nd day of December, 2014.

                        
State Street Corporation    

by ___/s/ Todd Gershkowitz_________
          
          Todd Gershkowitz
Executive Vice President
Head of Global Total Rewards
k

o
NYDOCS01/1173495.8
35
n
 document property name.    
31

 PAGE 
NYDOCS01/1173495.8

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EXHIBIT A
The terms and conditions in this Exhibit A shall apply to the Supplemental Defined Benefits of Continuing Participants.  Except as otherwise defined in this Exhibit A, capitalized terms shall have the meaning given to such terms in Article 2 of the Plan.
Article A.1    Definitions.
A.1.1    Actuarially Equivalent.  A benefit is “Actuarially Equivalent” to or the “Actuarial Equivalent” of a benefit payable in a different form or at a different time if the two benefits are of actuarially equivalent value as determined by the Administrator in Section 409A Compliance based upon a computation by an actuary chosen by the Administrator using the actuarial assumptions with respect to the Basic Plan.
A.1.2    Additional Company Benefit.  “Additional Company Benefit” means the annual Employer-provided retirement supplemental benefits, in each case expressed in the form of a single life annuity, as determined by the Administrator, that are payable to a Continuing Participant at age 65 under the Additional Company Benefit Plans applicable to the Continuing Participant, if any, determined as follows:
		
	(i)
	if the Additional Company Benefit Plan is a defined benefit or funded retirement plan, the retirement benefit shall be the Continuing Participant’s benefit accrued as of December 31, 2007, where such accrued benefit includes future cost of living increases at 3.25% from December 31, 2007 through age 65 and reduced to an Actuarially Equivalent non-escalating life annuity (where such escalation would be assumed at 3.25%); and

		
	(ii)
	if the Additional Company Benefit Plan is a defined contribution retirement plan, the retirement benefit shall be a projected benefit at age 65, based on the Continuing Participant’s account balance thereunder as of December 31, 2007, assuming 7.0% annual returns, and converted to an age 65 annuity using mortality and interest rates under Section 417(e) of the Code in effect on the applicable Freeze Date.

A.1.3    Additional Company Benefit Plans.  “Additional Company Benefit Plans” means the following Employer-sponsored retirement benefit plans and any other Employer-sponsored Company plan so designated by the Committee: 
		
	i.
	Mandatory Provision Fund - Dresdner RCM MPF Plan (Hong Kong);

		
	ii.
	State Street Superannuation Plan (Australia);

		
	iii.
	State Street Switzerland Pension Plan for Senior Management; and

		
	iv.
	State Street UK Pension & Life Assurance Plan.

A.1.4    Basic Plan Offset.  “Basic Plan Offset” means the annual benefit, expressed in the form of a single life annuity as determined by the Administrator payable to a Continuing Participant from the Basic Plan that is the greater of (i) the Continuing Participant’s Grandfathered Benefit (as defined under Section 4.6 of the Basic Plan), if any, thereunder payable at age 65 or (ii) the Continuing Participant’s Cash Balance Benefit (as defined under the Basic Plan) based on the Continuing Participant’s account balance as of December 31, 2007 projected to age 65, assuming a 5% interest rate, and converted to an age 65 annuity using mortality and interest rates under Section 417(e) of the Code in effect on the Freeze Date; provided, however, that the Cash Balance Account of a Transition Participant under the foregoing clause (ii) shall be increased on a notional basis until the Freeze Date applicable to the Transition Participant by deemed Basic Credits (as defined under the Basic Plan) that would have been contributed to the Cash Balance Account of the Transition Participant pursuant to Section 4.4 of the Basic Plan had the Basic Plan not been frozen and credited with 5% interest.  For the avoidance of doubt, 

14

any Basic Credits under Section 4.4(b) of the Basic Plan credited to the Cash Balance Account of a Continuing Participant shall not be included in the Basic Plan Offset.
A.1.5    Earnings.  “Earnings” means the following:
		
	(a)
	For years prior to 2007, a Continuing Participant’s annualized rate of base salary as of January 1 of that year and annual incentive compensation under the Employer’s annual incentive plan relating to performance in the prior fiscal year, regardless of when paid.

		
	(b)
	For 2007 and any year thereafter including the applicable Freeze Date, a Continuing Participant’s annualized rate of base salary as of January 1 of that year and annual incentive compensation awards under the incentive plan applicable to the Continuing Participant relating to performance in the prior fiscal year and, in the case of members of the Operating Group, the annual incentive compensation awarded or paid under the Senior Executive Annual Incentive Plan (“SEAIP”) or any successor thereto, regardless of whether or when awarded or paid.

		
	(c)
	In lieu of other amounts, the calculation of the amount of annual incentive award to be included for purposes of determining “Earnings” through January 1, 2008, with respect to a Continuing Participant who was employed by SSgA in an SSgA Plan shall be the lesser of (i) his or her actual annual incentive cash bonus or (ii) the percentage of base pay earned for the respective year as determined by the Administrator and recorded in the records of the Company.

		
	(d)
	For the avoidance of doubt, prior to January 1, 2007, “Earnings” shall not include any long‐term incentive awards.

A.1.6    Final Average Earnings.  “Final Average Earnings” means, for any Continuing Participant, the average annual Earnings amount obtained by averaging the Continuing Participant’s Earnings over the five‐consecutive‐year period during the last ten years of such Continuing Participant’s Employment ending with the applicable Freeze Date which yields the highest such annual average.  A Continuing Participant’s annual Earnings after the applicable Freeze Date shall not be taken into account for any purpose under the Plan.
A.1.7    Freeze Date.  “Freeze Date” means (i) with respect to a Continuing Participant other than a Transition Participant, the Effective Date; and (ii) with respect to a Transition Participant, (x) January 1, 2010 or (y) such other date as may be specified in a schedule to this Exhibit A.
A.1.8    Indexing End Date.  “Indexing End Date” means, with respect to a Continuing Participant, the first to occur of (i) the date of the Continuing Participant’s Separation From Service, Total Disability or death or (ii) December 31, 2017.
A.1.9    MSRP Benefit.  “MSRP Benefit” means the annual retirement supplemental benefits, expressed in the form of a single life annuity as determined by the Administrator, that are payable to a Continuing Participant under the State Street Corporation Management Supplemental Retirement Plan (the “MSRP”) of (i) the Continuing Participant’s Grandfathered Benefit (as provided under the MSRP), if any, thereunder payable at age 65 or (ii) the Continuing Participant’s Cash Balance Account (as provided under the MSRP) based on the Continuing Participant’s account balance as of December 31, 2007 projected to age 65, assuming a 5% interest rate, and converted to an age 65 annuity using mortality and interest rates under Section 417(e) of the Code in effect the applicable Freeze Date; provided, however, that the Cash Balance Account of a Transition Participant under the foregoing clause (i) shall be increased on a notional basis until the Freeze Date applicable to the Transition Participant by deemed Basic Credits (as provided under the MSRP) that would have been contributed to the Cash Balance Account of the Transition Participant had the MSRP not been frozen and credited with 5% interest.
A.1.10    Other Retirement Income.  “Other Retirement Income” means the sum of the following:
(a)the Basic Plan Offset; plus
(b)the MSRP Benefit; plus

15

(c)any Additional Company Benefit; plus
(d)any retirement income payable under plans of a Continuing Participant’s employers other than the Employer, as identified by the Administrator and recorded in the records of the Company in accordance with the Administrative Procedures and expressed in the form of a single life annuity, as determined by the Administrator in a manner that results in Section 409A Compliance.

A.1.11    SSgA.  “SSgA” means the State Street Global Advisors business unit of the Company.
A.1.12    SSgA Plans.  “SSgA Plans” means the SSgA annual incentive plan for each of the years 2003, 2004, 2005, 2006 and 2007.
Article A.2    Supplemental Defined Benefits.
A.2.1    Eligibility for Supplemental Defined Benefits.
(a)A Participant is eligible to receive a Supplemental Defined Benefit under the Plan only if he or she is a Continuing Participant.  No Eligible Employee (i) who was not a Continuing Participant on December 31, 2007 or (ii) who is hired or rehired by the Employer on or after the Effective Date shall become eligible to receive a Supplemental Defined Benefit.
(b)Effective as of the applicable Freeze Date, the Supplemental Defined Benefit of a Continuing Participant shall be frozen such that (i) any annual Earnings of a Continuing Participant after the applicable Freeze Date shall not be taken into account for any purpose under the Plan and (ii) no additional Supplemental Defined Benefit shall accrue on or after the applicable Indexing End Date on behalf of a Continuing Participant or any other individual.

A.2.2    Normal Retirement.  Subject to the terms of the Plan (including this Exhibit A and Exhibit B), the annual Supplemental Defined Benefit payable to a Continuing Participant in connection with Normal Retirement, expressed as a single life annuity commencing at the later of (i) Normal Retirement Age or (ii) the Continuing Participant’s Normal Retirement Date, shall equal either (a) or (b) below, whichever shall be applicable, minus (c) below, increased by the factors in (d) below, and adjusted pursuant to (e) below:
(a)For a Continuing Participant who was first elected an Executive Vice President (or to a superior position) prior to March 1, 2000, 50% of the Continuing Participant’s Final Average Earnings.
(b)For a Continuing Participant who was first elected an Executive Vice President (or to a superior position) on or after March 1, 2000, 2.5% of the Participant’s Final Average Earnings multiplied by the Continuing Participant’s years of Service prior to the applicable Freeze Date, but not more than 20 years of such Service, shall be taken into account.
(c)Other Retirement Income, as accrued or as deemed to be accrued under the respective plans as of the earlier to occur of (i) the Freeze Date and (ii) the date of the Continuing Participant’s Separation From Service.
(d)Three percent for each whole calendar year following the applicable Freeze Date until the Continuing Participant’s Indexing End Date, plus an additional amount equal to the product of (i) the excess of whole calendar months elapsed prior to the Indexing End Date for the Plan Year in which the Indexing End Date occurs over twelve and (ii) 3%.
(e)Where the pre-offset benefit is determined under (b), the benefit amount determined by subtracting (c) from (b) and increased by (d) (the “unadjusted benefit”) shall be multiplied by (A) one‐third (33.3%) if the Continuing Participant’s Separation From Service is prior to attainment of his or her birthday next following the date (the “age/service eligibility date”) on which the Continuing Participant first satisfied the age and service requirements of Section 3.3 of the Plan; (B) two‐thirds (66.7%) if the Continuing Participant’s Separation From Service is on or after attainment of such first birthday following the age/service eligibility date, but before attainment of his or her second birthday following such date; and (C) one (100%) in every other case.

A.2.3    Early Retirement.

16

(a)Subject to the terms of the Plan (including this Exhibit A and Exhibit B), the annual Supplemental Defined Benefit payable in connection with Early Retirement to a Continuing Participant who on January 1, 2005 had reached the age of 55, completed ten years of Service and previously been elected an Executive Vice President (or to a superior position), expressed as a single life annuity commencing as of the Continuing Participant’s Early Retirement Date, shall equal (i) reduced by the factors in (ii), and further where:
		
	(i)
	the supplemental benefit determined under Section A.2.2 above, reduced by:

		
	(ii)
	the sum of (A) and (B) below:

		
	(A)
	.0833% for each whole calendar month by which the Continuing Participant’s Early Retirement Date commencement precedes his or her 65th birthday, excluding any period prior to the Continuing Participant’s 60th birthday; and

		
	(B)
	.2083% for each whole calendar month by which the Continuing Participant’s Early Retirement Date precedes his or her 60th birthday.

(b)Subject to the terms of the Plan (including this Exhibit A and Exhibit B), the annual Supplemental Defined Benefit in connection with Early Retirement of a Continuing Participant who as of January 1, 2005 had not both reached the age of 55 and completed ten years of Service, expressed as a single life annuity commencing as of the Continuing Participant’s Early Retirement Date, shall equal the benefit determined under A.2.3(a) above except that in lieu of the reductions described in Section A.2.3(a)(ii) above, the Supplemental Defined Benefit determined under Section A.2.2 above shall be reduced by 0.25% for each whole calendar month by which the Continuing Participant’s Early Retirement Date precedes his or her 65th birthday.
(c)Notwithstanding the above, with respect to a Transition Participant, if Early Retirement occurs prior to the applicable Freeze Date, the reductions in (a) and (b) will apply to the pre-offset benefit as defined in A.2.2(a) and A.2.2(b) and the offsets for Other Retirement Income as defined in A.2.2(c) will be computed on an early retirement basis in accordance with the provisions of the plan or plans providing such Other Retirement Income; provided, however, that if such Additional Company Benefit Plan (or Additional Company Benefit Plans) does/do not contain provisions for early retirement, or such provisions are not ascertainable as of the date of determination, the Committee shall determine the actuarial equivalence basis to be used for such purpose. For this purpose, the Basic Plan and MSRP Cash Balance Accounts will be increased on a notional basis from December 31, 2007 until Early Retirement by deemed Basic Credits that would have been contributed to the Cash Balance Accounts of the Transition Participant had the Basic Plan and MSRP not been frozen and credited with 5% interest through Early Retirement.  The offsets so computed will be subtracted from the reduced preoffset benefit.

A.2.4    Death Before Retirement Eligibility.  If a Continuing Participant dies under the circumstances described in Section 3.4, a Supplemental Defined Benefit shall be paid to his or her designated Beneficiary which equals the amount derived by multiplying (a) times (b) times (c), where (a) equals the net amount calculated under either Section A.2.2, as if the Continuing Participant’s Normal Retirement Date was the date of his or her death (determined without the adjustments described in Section A.2.2(e)); (b) equals a fraction of which the numerator is the sum of the Continuing Participant’s age at his or her date of death plus the number of completed years of Service prior to the applicable Freeze Date and the denominator is 85; and (c) equals 50%.  Payment shall be made in an Actuarially Equivalent single lump sum cash distribution within 90 days following the date of the Continuing Participant’s death.
A.2.5    Total Disability Before Retirement Eligibility.  If a Continuing Participant becomes Totally Disabled as described in Section 3.5, a Supplemental Defined Benefit shall be paid to him or her equal to the product of (a) and (b) where (a) equals the amount calculated under either Section A.2.2, as if the Continuing Participant’s Normal Retirement Date was on the date on which he or she became Totally Disabled (determined without the adjustments described in Section A.2.2(e)), and (b) equals a fraction the numerator of which is the sum of the Continuing Participant’s age at the date he or she became Totally Disabled plus the number of completed years of Service prior to the applicable Freeze Date and the denominator of which is 85.  A Continuing Participant’s Supplemental Defined Benefit shall be paid in cash in three equal installment payments, which in the aggregate, are the Actuarial Equivalent of the Supplemental Defined Benefit as of the Continuing Participant’s Total Disability Date, provided the Continuing Participant has remained Totally Disabled through the first date of payment.  The first installment payment shall be made by the later of (A) the fifteenth day of the third month coinciding with or following the date on which the Continuing Participant becomes Totally Disabled, or (B) the end of the calendar 

17

year in which the Continuing Participant becomes Totally Disabled, and the remaining installment payments shall be made on the first Business Day of the month coinciding with or following the first and second anniversaries of the first installment payment date, or, in each case, as soon as administratively feasible thereafter in a manner that is consistent with Section 409A Compliance.
A.2.6    Distribution Following Retirement Eligibility.
(a)Retirement.  In the event of a Continuing Participant’s Retirement after satisfying the age and service requirements of Section 3.3, a Continuing Participant’s Supplemental Defined Benefit shall be paid in cash in three equal installment payments which, in the aggregate, are the Actuarial Equivalent of the Supplemental Defined Benefit as of the Continuing Participant’s Retirement Date.  The installment payments shall be made on the following dates:  (i) the first Business Day of the month coinciding with or following the date that is six months after the Continuing Participant’s Retirement Date; (ii) the first Business Day of the month coinciding with or following the first anniversary of the Continuing Participant’s Retirement Date, and (iii) the first Business Day of the month coinciding with or following the second anniversary of the Continuing Participant’s Retirement Date, or, in each case, as soon as administratively feasible thereafter in a manner that is consistent with Section 409A Compliance.
(b)Death.
		
	i.
	Death Benefits.  Upon the death of a Continuing Participant after satisfying the age and service requirements of Section 3.3, but before commencement of benefit payments, a death benefit shall be payable to the Continuing Participant’s designated Beneficiary.  The amount of such death benefit shall be the Actuarial Equivalent of 50% of the Continuing Participant’s Supplemental Defined Benefit calculated pursuant to Section A.2.2 (determined without the adjustments described in Section A.2.2(e)), payable as an Actuarially Equivalent single lump sum cash distribution within 90 days following the date of the Continuing Participant’s death.

		
	ii.
	Commutation Due to Death.  Upon the death of a Continuing Participant who is receiving the distribution of his or her accrued Supplemental Defined Benefit pursuant to Section A.2.6(a), the Committee shall commute any or all remaining payments by paying the remainder of the accrued Supplemental Defined Benefit to the Continuing Participant’s Beneficiary in an Actuarially Equivalent single lump sum cash distribution within 90 days following the date of the Continuing Participant’s death.

(c)Total Disability.  Upon the Total Disability of a Continuing Participant after satisfying the age and service requirements of Section 3.3 but before commencement of benefit payments, a Continuing Participant’s Supplemental Defined Benefit shall be paid in cash in three equal installment payments, which in the aggregate are the Actuarial Equivalent of the Supplemental Defined Benefit as of the Continuing Participant’s Total Disability Date, provided the Continuing Participant has remained Totally Disabled through the date of payment.  The first installment payment shall be made by the later of (A) the fifteenth day of the third month coinciding with or following the date on which the Continuing Participant becomes Totally Disabled, or (B) the end of the calendar year in which the Continuing Participant becomes Totally Disabled, and the remaining installment payments shall be made on the first Business Day of the month coinciding with or following the first and second anniversaries of the first installment payment date, or, in each case, as soon as administratively feasible thereafter in a manner that is consistent with Section 409A Compliance.

18

EXHIBIT B
Schedule 1 (2005 Restatement)
Section 3.2(c) Separate Rules Applicable to J. Hooley
	
		
	Status:
	Active

	Participation Date:
	September 1, 2000

	Section A.2.2 Supplemental Defined Benefit at Normal Retirement:
	Subject to the terms of the Plan, Exhibit A, and the Special Benefit hereafter described, the supplemental benefit under Section A.2.2 of the Plan shall be the benefit set forth in this Schedule 1 of Exhibit B.

	Special
Benefit:
	The Participant’s Special Benefit under the Plan and Exhibit A shall be equal to his cash balance account benefit which shall consist of an opening cash balance account in the sum of $500,000 as of September 1, 2000 and earnings credited thereafter in the same percentage and in the same manner as though such cash balance account were provided under the terms of the Basic Plan.  There shall be no additional contributions to this “cash balance account.”

	 
	If the Participant’s benefit under the Plan is subsequently determined under the generally applicable rules of the Plan, the value of the Special Benefit set forth above shall be payable in addition to such generally applicable Plan benefit.

	 
	The Special Benefit is in addition to any Supplemental Benefits under the Plan and Exhibit A.

	Section A.2.2(e) Applicability:
	The offset for Other Retirement Income is not applicable to the Special Benefit pursuant to this Schedule 1 of Exhibit B.

	Age/Service Requirements:
	The Participant’s prior years of service with the Employer as well as the Participant’s years of service with Boston Financial Data Services shall be considered as Service hereunder.

	 
	The age and service requirements to qualify for a benefit set forth in Section A.2.2 of the Plan above are as follows:

	 
	(1)The Service requirement of completion of ten full years of Employment is satisfied by the recognition of prior Service above.

	 
	(2)There is no age requirement to qualify for the Special Benefit pursuant to this Schedule 1 of Exhibit B.

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EXHIBIT B
Schedule 2  (2008 Restatement)
Section 3.2(c) Separate Rules for Edward Resch
	
		
	Status:
	Active

	Participation Date:
	January 1, 2003

	Freeze Date:
	For purposes of the Plan, the Freeze Date applicable to the Participant is December 31, 2010.

	Section A.2.2 Supplemental Defined Benefit at Normal Retirement:
	Subject to the terms of the Plan and Exhibit A, the maximum Supplemental Defined Benefit under Section A.2.2 of the Plan before offsets shall be equal to 20% of the Participant’s Final Average Earnings.

	Section A.2.3 Supplemental Defined Benefit at Early Retirement:
	The Participant’s Supplemental Defined Benefit shall be determined under Section A.2.3(a) of the Plan.  Subject to the terms of the Plan and Exhibit A, the maximum Supplemental Defined Benefit under Section A.2.3 of the Plan before offsets shall be equal to 20% of the Participant’s Final Average Earnings.

	Section A.2.2(c) Applicability:
	The offset for Other Retirement Income is applicable to the benefit under Section A.2.2 of the Plan.

20

 EXHIBIT C
CLAIMS PROCEDURES
STATE STREET CORPORATION
DEFERRED COMPENSATION PLAN CLAIMS PROCEDURES
(Amended and Restated Effective January 1, 2008)
These Claims Procedures for filing and reviewing claims have been established and adopted for the State Street Corporation Executive Supplemental Retirement Plan (the “Plan”) and are intended to comply with Section 503 of ERISA and related Department of Labor regulations.  These amended and restated Claims Procedures are effective for claims made under the Plan on or after January 1, 2008.
1.In General.  Any employee or former employee, or any person claiming to be a beneficiary with respect to such a person, may request, with respect to the Plan:
		
	a)
	a benefit payment,

		
	b)
	a resolution of a disputed amount of benefit payment, or

		
	c)
	a resolution of a dispute as to whether the person is entitled to the particular form of benefit payment.

A request described above and filed in accordance with these Procedures is a claim, and the person on whose behalf the claim is filed is a claimant.  A claim must relate to a benefit which the claimant asserts he or she is already entitled to receive or will become entitled to receive within one year following the date the claim is filed.
2.Effect on Benefit Requests in Due Course.  The Plan has established procedures for benefit applications, selection of benefit forms, and designation of beneficiaries, determination of qualified domestic relations orders, and similar routine requests and inquiries relating to the operation of the Plan.
		
	3.
	Filing of Claims.

		
	a)
	Each claim must be in writing and delivered by hand or first-class mail (including registered or certified mail) to the Administrator, at the following address:

GHR U.S. Benefits Planning
State Street Corporation
c/o Vice President, GHR-U.S. Benefits Planning
One Lincoln Street, 14th Floor
Boston, MA  02111
A claim must clearly state the specific outcome being sought by the claimant.
		
	b)
	The claim must also include sufficient information relating to the identity of the claimant and such other information reasonably necessary to allow the claim to be evaluated.

		
	c)
	In no event may a claim for benefits be filed by a Claimant more than 120 days after the applicable “Notice Date,” as defined below.

		
	i)
	In any case where benefits are paid to the Claimant as a lump sum, the Notice Date shall be the date of payment of the lump sum.

		
	ii)
	In any case where benefits are paid to the Claimant in the form of an annuity or installments, the Notice Date shall be the date of payment of the first installment of the annuity or payment of first installment.

		
	iii)
	In any case where the Plan (prior to the filing of a claim for benefits) determines that an individual is not entitled to benefits (for example (without limitation) where an individual terminates employment and the Plan determines that he has not vested) and the Plan provides written notice to such person of its determination, the Notice Date shall be the date of the individual’s receipt of such notice.

21

		
	iv)
	In any case where the Plan provides an individual with a written statement of his account as of a specific date or the amounts credit to, or charged against, his account within a specified period, the Notice Date with regard to matters described in such statement shall be the date of the receipt of such notice by such individual (or beneficiary).

4.Processing of Claims.  A claim normally shall be processed and determined by the Administrator within a reasonable time (not longer than 90 days) following actual receipt of the claim.  However, if the Administrator determines that additional time is needed to process the claim and so notifies the claimant in writing within the initial 90-day period, the Administrator may extend the determination period for up to an additional 90 days.  In addition, where the Administrator determines that the extension of time is required due to the failure of the claimant to submit information necessary in order to determine the claim, the period of time in which the claim is required to be considered pursuant to this Paragraph 4 shall be tolled from the date on which notification of the extension is sent to the claimant until the date on which the claimant responds to the request for additional information.  Any notice to a claimant extending the period for considering a claim shall indicate the circumstances requiring the extension and the date by which the Administrator expects to render a determination with respect to the claim.  The Administrator shall not process or adjudicate any claim relating specifically to his or her own benefits under the Plan.
5.Determination of Claim.  The Administrator shall inform the claimant in writing of the decision regarding the claim by registered or certified mail posted within the time period described in Paragraph 4.  The decision shall be based on governing Plan documents.  If there is an adverse determination with respect to all or part of the claim, the written notice shall include:
		
	a)
	the specific reason or reasons for the denial,

		
	b)
	reference to the specific Plan provisions on which the denial is based,

		
	c)
	a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary,

		
	d)
	reference to and a copy of these Procedures, so as to provide the claimant with a description of the relevant Plan’s review procedures and the time limits applicable to such procedures, a description of the claimant’s rights regarding documentation as described in Paragraph 9, and

		
	e)
	a statement of the claimant’s rights under Section 502(a) of ERISA to bring a civil action with respect to an adverse determination upon review of an appeal filed under Paragraph 6.

For purposes of these Procedures, an adverse determination shall mean determination of a claim resulting in a denial, reduction, or termination of a benefit under a Plan, or the failure to provide or make payment (in whole or in part) of a benefit or any form of benefit under a Plan.  Adverse determinations shall include denials, reductions, etc., based on the claimant’s lack of eligibility to participate in the relevant Plan.  All decisions made by the Administrator under these Procedures shall be summarized in a report to be maintained in the files of the Administrator.  The report shall include reference to the applicable governing Plan provision(s) and, where applicable, reference to prior determinations of claims involving similarly situated claimants.
6.Appeal of Claim Denials - Appeals Committee.  A claimant who has received an adverse determination of all or part of a claim shall have 60 days from the date of such receipt to contest the denial by filing an appeal.  An appeal must be in writing and delivered to the Administrator.  An appeal will be considered timely only if actually received by the Administrator within the 60-day period or, if sent by mail, postmarked within the 60-day period.  The timely review will be completed by the Appeals Committee and should be sent to:
Appeals Committee
State Street Corporation
c/o Vice President, GHR-U.S. Benefits Planning
2 Avenue de Lafayette, LCC 1E 
Boston, MA  02111-1724
The Appeals Committee shall meet at such times and places as it considers appropriate, shall keep a record of such meetings and shall periodically report its deliberations to the Administrator.  Such reports shall include the basis upon which the appeal was determined and, where applicable, reference to prior determinations of claims involving similarly situated claimants.  The vote of a majority of the members of the Appeals Committee shall decide any question brought before the Appeals Committee.
7.Consideration of Appeals.  The Appeals Committee shall make an independent decision as to the claim based on a full and fair review of the record.  The Appeals Committee shall take into account in its deliberations all 

22

comments, documents, records and other information submitted by the claimant, whether submitted in connection with the appeal or in connection with the original claim, and may, but need not, hold a hearing in connection with its consideration of the appeal.  The Appeals Committee shall consider an appeal within a reasonable period of time, but not later than 60 days after receipt of the appeal, unless the Appeals Committee determines that special circumstances (such as the need to hold a hearing) require an extension of time.  If the Appeals Committee determines that an extension of time is required, it will cause written notice of the extension, including a description of the circumstances requiring an extension and the date by which the Appeals Committee expects to render the determination on review, to be furnished to the claimant before the end of the initial 60-day period.  In no event shall an extension exceed a period of 60 days from the end of the initial period; provided, that in the case of any extension of time required by the failure of the claimant to submit information necessary for the Appeals Committee to consider the appeal, the period of time in which the appeal is required to be considered under this Paragraph 7 shall be tolled from the date on which notification of the extension is sent to the claimant until the date on which the claimant responds to the Appeals Committee’s request for additional information.
8.Resolution of Appeal.  Notice of the Appeals Committee’s determination with respect to an appeal shall be communicated to the claimant in writing by registered or certified mail posted within the time period described in Paragraph 7.  If the determination is adverse, such notice shall include:
		
	a)
	the specific reason or reasons for the adverse determination,

		
	b)
	reference to the specific plan provisions on which the adverse determination was based,

		
	c)
	reference to and a copy of these Procedures, so as to provide the claimant with a description of the claimant’s rights regarding documentation as described in Paragraph 9, and

		
	d)
	a statement of the claimant’s rights under Section 502(a) of ERISA to bring a civil action with respect to the adverse determination.

9.Certain Information.  In connection with the determination of a claim or appeal, a claimant may submit written comments, documents, records and other information relating to the claim and may request (in writing) copies of any documents, records and other information relevant to the claim.  An item shall be deemed relevant to a claim if it:
		
	a)
	was relied on in determining the claim,

		
	b)
	was submitted, considered or generated in the course of making such determination (whether or not actually relied on), or

		
	c)
	demonstrates that such determination was made in accordance with governing Plan documents (including, for this purpose, these Procedures) and that, where appropriate, Plan provisions have been applied consistently with similarly situated claimants.

The Administrator shall furnish free of charge copies of all relevant documents, records and other information so requested; provided, that nothing in these Procedures shall obligate the Company, the Administrator, or any person or committee to disclose any document, record or information that is subject to a privilege (including, without limitation, the attorney-client privilege) or the disclosure of which would, in the Administrator’s judgment, violate any law or regulation.
		
	10.
	Rights of a Claimant Where Appeal is Denied.

		
	a)
	The claimant’s actual entitlement, if any, to bring suit and the scope of and other rules pertaining to any such suit shall be governed by, and subject to the limitations of, applicable law, including ERISA.  By extending to an employee or former employee the right to file a claim under these Procedures, neither the Company nor any person or committee appointed as Administrator acknowledges or concedes that such individual is a participant in any particular Plan within the meaning of such Plan or ERISA, and reserves the right to assert that an individual is not a participant in any action brought under Section 502(a).

		
	b)
	In no event may any legal proceeding regarding entitlement to benefits or any aspect of benefits under the Plan be commenced later than the earliest of:

		
	i)
	two years after the applicable Notice Date; or

		
	ii)
	one year after the date a claimant receives a decision from the Appeals Committee regarding his appeal; or

		
	iii)
	the date otherwise prescribed by applicable law.

23

		
	c)
	Before any legal proceeding can be brought, a participant must exhaust the claim appeals procedures as set forth herein.

11.Special Rules Regarding Disability.  Certain benefits under the Plans are contingent upon an individual’s incurring a disability.  Where a claim requires a determination by the Company as to whether an individual is “disabled” as defined under the Plan, the additional rules set forth in Schedule 1 to these Procedures shall apply to the claim.1 However, where disabled status is based upon actual entitlement to benefits under a separate plan in which the individual participates or is otherwise covered, the determination of such status for purposes of each Plan shall be made under such separate disability plan, and any claims or disputes as to disabled status under such plan or program shall be resolved in accordance with the procedures established for that purpose under the separate plan or program.
12.Authorized Representation.  A claimant may authorize an individual to represent him/her with respect to a claim or appeal made under these Procedures.  Any such authorization shall be in writing, shall clearly identify the name and address of the individual, and shall be delivered to the Plan Administrator at the address listed in Paragraph 3.  On receipt of a letter of authorization, all parties authorized to act under these Procedures shall be entitled to rely on such authorization, until similarly revoked by the claimant.  While an authorization is in effect, all notices and communications to be provided to the claimant under these Procedures shall also be provided to his/her authorized representative.
13.Form of Communications.  Unless otherwise specified above, any claim, appeal, notice, determination, request, or other communication made under these Procedures shall be in writing, with original signed copy delivered by hand or first class mail (including registered or certified mail).  A copy or advance delivery of any such claim, appeal, notice, determination, request, or other communication may be made by electronic mail or facsimile.  Any such electronic or facsimile communication, however, shall be for the convenience of the parties only and not in substitution of a writing required to be mailed or delivered under these Procedures, and receipt or delivery of any such claim, appeal, notice, determination, request, or other written communication shall not be considered to have been made until the actual posting or receipt of original signed copy, as the case may be.
14.Reliance on Outside Counsel, Consultants, etc.   The Administrator and the Appeals Committee may rely on or take into account advice or information provided by such legal, accounting, actuarial, consulting or other professionals as may be selected in determining a claim or appeal, including those individuals and firms that may render advice to the Company or the Plans from time to time.

_______________________
1 State Street to provide.  

24

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