Document:

Exhibit 10.2

 Exhibit 10.2 
  
 CHANGE IN CONTROL AGREEMENT 
  

This Change in Control Agreement (“Agreement”) is entered into by and between SunTrust Banks, Inc., a Georgia corporation
(“SunTrust”), and Mark A. Chancy (“Executive”). 
  
 WHEREAS, Executive is employed by SunTrust or provides services directly or indirectly to SunTrust as a senior executive of SunTrust or one, or more than one, SunTrust Affiliate; and 
  
 WHEREAS, the Board and the Compensation Committee have decided that SunTrust
should provide certain benefits to Executive in the event Executive’s employment is terminated without Cause or Executive resigns for Good Reason following a Change in Control; and 
  
 WHEREAS, this Agreement sets forth the benefits which the Board and the Compensation Committee have decided SunTrust shall
provide under such circumstances and the terms and conditions under which the Board and the Compensation Committee have decided that such benefits shall be provided; 
  
 NOW, THEREFORE, in consideration of the mutual promises and agreements contained in this Agreement and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, SunTrust and Executive hereby agree as follows: 
  
 § 1. 
  
 Definitions 
  
 1.1 Board. The term “Board” for purposes of this Agreement shall mean the Board of Directors of SunTrust. 
  
 1.2 Cause. The term “Cause” for purposes of this Agreement shall (subject to § 1.2(e)) mean: 
  
 (a) The willful and continued failure by Executive to
perform satisfactorily the duties of Executive’s job; 
  
 (b) Executive is convicted of a felony or has engaged in a dishonest act, misappropriation of funds, embezzlement, criminal conduct or common law fraud; 
  
 (c) Executive has engaged in a material violation of the SunTrust Code of Conduct; or 
  
 (d) Executive has engaged in any willful act that materially
damages or materially prejudices SunTrust or a SunTrust Affiliate or has engaged in conduct or activities materially damaging to the property, business or reputation of SunTrust or a SunTrust Affiliate; provided, however, 
  
 (e) No such act, omission or event shall be treated as
“Cause” under this Agreement unless (i) Executive has been provided a detailed, written statement of the basis for SunTrust’s belief that such act, omission or event constitutes “Cause” and an opportunity to meet with the
Compensation Committee (together with Executive’s 

 counsel if Executive chooses to have Executive’s counsel present at such meeting) after Executive
has had a reasonable period in which to review such statement and, if the allegation is under § 1.2(a), has had at least a thirty (30) day period to take corrective action and (ii) the Compensation Committee after such meeting (if Executive
meets with the Compensation Committee) and after the end of such thirty (30) day correction period (if applicable) determines reasonably and in good faith and by the affirmative vote of at least two thirds of the members of the Compensation
Committee then in office at a meeting called and held for such purpose that “Cause” does exist under this Agreement. 
  
 1.3 Change in Control. The term "Change in Control" for purposes of this Agreement shall mean a change in control of SunTrust of a nature that
would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act as in effect at the time of such "change in control", provided that such a change in control shall be deemed to have
occurred at such time as (i) any "person" (as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act), is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) directly or indirectly, of securities
representing 20% or more of the combined voting power for election of directors of the then outstanding securities of SunTrust or any successor of SunTrust; (ii) during any period of two consecutive years or less, individuals who at the beginning of
such period constitute the Board cease, for any reason, to constitute at least a majority of the Board, unless the election or nomination for election of each new director was approved by a vote of at least two-thirds of the directors then still in
office who were directors at the beginning of the period; (iii) the shareholders of SunTrust approve any reorganization, merger, consolidation or share exchange as a result of which the common stock of SunTrust shall be changed, converted or
exchanged into or for securities of another corporation (other than a merger with a wholly-owned subsidiary of SunTrust) or any dissolution or liquidation of SunTrust or any sale or the disposition of 50% or more of the assets or business of
SunTrust; or (iv) the shareholders of SunTrust approve any reorganization, merger, consolidation or share exchange unless (A) the persons who were the beneficial owners of the outstanding shares of the common stock of SunTrust immediately before the
consummation of such transaction beneficially own more than 65% of the outstanding shares of the common stock of the successor or survivor corporation in such transaction immediately following the consummation of such transaction and (B) the number
of shares of the common stock of such successor or survivor corporation beneficially owned by the persons described in § 1.3(iv)(A) immediately following the consummation of such transaction is beneficially owned by each such person in
substantially the same proportion that each such person had beneficially owned shares of SunTrust common stock immediately before the consummation of such transaction, provided (C) the percentage described in § 1.3(iv)(A) of the beneficially
owned shares of the successor or survivor corporation and the number described in § 1.3(iv)(B) of the beneficially owned shares of the successor or survivor corporation shall be determined exclusively by reference to the shares of the successor
or survivor corporation which result from the beneficial ownership of shares of common stock of SunTrust by the persons described in § 1.3(iv)(A) immediately before the consummation of such transaction. 
  
 1.4 Change in Control Date. The term "Change in Control Date" for
purposes of this Agreement shall mean the date which includes the “closing” of the transaction which results from a Change in Control or, if there is no transaction which results from a Change in Control, the date such Change in Control is
reported by SunTrust to the Securities and Exchange Commission. 
  
 1.5 Code. The term "Code" for purposes of this Agreement shall mean the Internal Revenue Code of 1986, as amended. 
  
 1.6 Compensation Committee. The term "Compensation Committee" for purposes of this Agreement shall mean the Compensation Committee of the Board.

 1.7 Confidential or Proprietary Information. The term “Confidential or Proprietary
Information” for purposes of this Agreement shall mean any secret, confidential, or proprietary information of SunTrust or a SunTrust Affiliate (not otherwise included in the definition of Trade Secret in § 1.23 of this Agreement) that has
not become generally available to the public by the act of one who has the right to disclose such information without violating any right of SunTrust or a SunTrust Affiliate. 
  
 1.8 Current Compensation Package. The term “Current Compensation Package” for purposes of § 3(a)(2)(A)
of this Agreement shall mean the sum of the amount described in § 1.8(a), in § 1.8(b) and, if applicable, in § 1.8(c) as follows: 
  
 (a) Base Salary. Executive’s highest annual base salary from SunTrust and any SunTrust Affiliate which (but for any salary
deferral election) is in effect at any time during the 1 year period which ends on the date Executive’s employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in § 3(a) or § 3(f). 
  
 (b) MIP or MIP Alternative. 
  
 (1) General Rule. If Executive participates in the
MIP or in an alternative, functional incentive plan, the amount described in this § 1.8(b) shall (subject to § 1.8(b)(2)) be the greater of (i) Executive’s target annual bonus under the MIP or such alternative plan for the calendar
year in which Executive’s employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in § 3(a) or § 3(f) or (ii) the greater of (A) the average of the annual bonus which was paid to Executive (or, if
greater, which would have been paid to Executive but for any bonus deferral election) for the 3 full calendar years in which Executive has participated in the MIP or such alternative plan (or, if less, the number of full calendar years in which
Executive has participated in the MIP or such alternative plan) which immediately precedes the calendar year in which Executive’s employment so terminates or, if Executive was not eligible to participate in the MIP or in a functional incentive
plan in the calendar year which immediately precedes the calendar year in which Executive’s employment so terminates, (B) the greater of (1) the average annual bonus described in §1.8(b)(1)(ii)(A) or (2) the last annual bonus which was
paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election); or 
  
 (2) Exceptions to General Rule. 
  
 (a) No MIP. If Executive participates in a functional incentive plan and in the PUP but not in the MIP, the amount described in
this § 1.8(b) shall not exceed the amount which would have been described in § 1.8(b)(1) if Executive instead had been a participant in the MIP. 
  
 (b) No MIP and No PUP. If Executive participates in a functional incentive plan but does not participate in either the MIP or the
PUP, the amount described in this § 1.8(b) shall not exceed the amount which would have been described in § 1.8(b)(1) if Executive instead had been a participant in the MIP plus the amount which would have been described in § 1.8(c)
if Executive had been a participant in the PUP. 

 (c) Determination Rules. SunTrust shall determine the amount which would have
been described in § 1.8(b)(1) if Executive had been a participant in the MIP and, if applicable, in § 1.8(c) if Executive had been a participant in the PUP based on the target bonus or, if greater, the projected bonus for a MIP participant
and the target bonus or, if greater, the projected bonus for PUP participant, or for a class of such participants, whose duties, responsibilities and compensation match, or most closely match, Executive’s duties, responsibilities and
compensation before Executive’s employment terminated. 
  
 (c) (1) If Executive participated in the PUP, the average of the PUP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election) for the 3 full
performance cycles in which Executive has participated in the PUP (or, if less, for the number of full performance cycles in which Executive has participated in the PUP) which immediately precede the performance cycle which ends in the calendar year
in which Executive’s employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in § 3(a) or § 3(f) or, if Executive was not eligible to participate in the PUP for the performance cycle which ends in
the calendar year in which Executive’s employment so terminates or if there is no such cycle, (2) the average PUP bonus described in §1.8(c)(1) or the last PUP bonus which was paid to Executive (or, if greater, which would have been paid
to Executive but for any bonus deferral election), whichever is greater. 
  
 1.9 Disability Termination. The term “Disability Termination” for purposes of this Agreement shall mean a termination of Executive’s employment on or after the date Executive has a right
immediately upon such termination to receive disability income benefits under SunTrust’s long term disability plan or any successor to or replacement for such plan. 
  
 1.10 Exchange Act. The term “Exchange Act” for purposes of this Agreement shall mean the Securities
Exchange Act of 1934, as amended. 
  
 1.11. Financial Services
Business. The term “Financial Services Business” for purposes of this Agreement shall mean the business of banking, including deposit, credit, trust and investment services, mortgage banking, commercial and auto leasing, insurance,
asset management, brokerage and investment banking services. 
  
 1.12 Good Reason. The term “Good Reason” for purposes of this Agreement shall (subject to § 1.12(e)) mean: 
  
 (a) SunTrust or any SunTrust Affiliate after a Change in Control but before the end of Executive’s Protection Period reduces
Executive’s base salary or opportunity to receive comparable incentive compensation or bonuses without Executive’s express written consent; 
  
 (b) SunTrust or any SunTrust Affiliate after a Change in Control but before the end of Executive’s Protection Period reduces the
scope of Executive’s principal or primary duties, responsibilities or authority without Executive’s express written consent; 
  
 (c) SunTrust or any SunTrust Affiliate at any time after a Change in Control but before the end of Executive’s Protection Period
(without Executive’s express written 

 consent) transfers Executive’s primary work site from Executive’s primary work site on the date
of such Change in Control or, if Executive subsequently consents in writing to such a transfer under this Agreement, from the primary work site which was the subject of such consent, to a new primary work site which is outside the “standard
metropolitan statistical area” which then includes Executive’s then current primary work site unless such new primary work site is closer to Executive’s primary residence than Executive’s then current primary work site; or

  
 (d) SunTrust or any SunTrust Affiliate after
a Change in Control but before the end of Executive’s Protection Period fails (without Executive’s express written consent) to continue to provide to Executive health and welfare benefits, deferred compensation and retirement benefits,
stock option and restricted stock grants that are in the aggregate comparable to those provided to Executive immediately prior to the Change in Control Date; provided, however, 
  
 (e) No such act or omission shall be treated as “Good Reason” under this Agreement unless

  
 (i) (A) Executive delivers to the
Compensation Committee a detailed, written statement of the basis for Executive’s belief that such act or omission constitutes Good Reason, (B) Executive delivers such statement before the later of (1) the end of the ninety (90) day period
which starts on the date there is an act or omission which forms the basis for Executive’s belief that Good Reason exists or (2) the end of the period mutually agreed upon for purposes of this § 1.12(e)(i)(B) in writing by Executive and
the Chairman of the Compensation Committee, (C) Executive gives the Compensation Committee a thirty (30) day period after the delivery of such statement to cure the basis for such belief and (D) Executive actually submits Executive’s written
resignation to the Compensation Committee during the sixty (60) day period which begins immediately after the end of such thirty (30) day period if Executive reasonably and in good faith determines that Good Reason continues to exist after the end
of such thirty (30) day period, or 
  
 (ii)
SunTrust states in writing to Executive that Executive has the right to treat such act or omission as Good Reason under this Agreement and Executive resigns during the sixty (60) day period which starts on the date such statement is actually
delivered to Executive; 
  
 (f) If (i) Executive
gives the Compensation Committee the statement described in § 1.12(e)(i) before the end of the thirty (30) day period which immediately follows the end of the Protection Period and Executive thereafter resigns within the period described in
§ 1.12(e)(i) or (ii) SunTrust provides the statement to Executive described in § 1.12(e)(ii) before the end of the thirty (30) day period which immediately follows the end of the Protection Period and Executive thereafter resigns within
the period described in § 1.12(e)(ii), then (iii) such resignation shall be treated under this Agreement as if made in Executive’s Protection Period; and 
  
 (g) If Executive consents in writing to any reduction described in § 1.12(a) or § 1.12(b), to any
transfer described in § 1.12(c) or to any failure described in § 1.12(d) in lieu of exercising Executive’s right to resign for Good Reason and delivers such consent to SunTrust, the date such consent is delivered to SunTrust
thereafter shall be treated under this definition as the date of a Change in Control for purposes of determining 

 whether Executive subsequently has Good Reason under this Agreement to resign under § 3(a) or §
3(f) as a result of any subsequent reduction described in § 1.12(a) or § 1.12(b), any subsequent transfer described in § 1.12(c) or any subsequent failure described in § 1.12(d). 
  
 1.13 Gross Up Payment. The term “Gross Up Payment” for
purposes of this Agreement shall mean a payment to or on behalf of Executive which shall be sufficient to pay (i) any excise tax described in § 9 in full, (ii) any federal, state and local income tax and social security and other employment tax
on the payment made to pay such excise tax as well as any additional taxes on such payment and (iii) any interest or penalties assessed by the Internal Revenue Service on Executive which are related to the payment of such excise tax unless such
interest or penalties are attributable to Executive’s willful misconduct or negligence. 
  
 1.14 Managerial Responsibilities. The term “Managerial Responsibilities” for purposes of this Agreement shall mean managerial and supervisory responsibilities and duties that are substantially the
same as those Executive is performing for SunTrust or a SunTrust Affiliate on the date of this Agreement. 
  
 1.15 MIP. The term “MIP” for purposes of this Agreement shall mean the SunTrust Banks, Inc. Management Incentive Plan or, if there is any
material change in the terms, operation or administration of such plan following a Change in Control, any successor to such plan in which Executive is eligible to participate and which provides an opportunity for a bonus for Executive which is
comparable to the opportunity which Executive had under such plan before such Change in Control or, if Executive reasonably determines that there is no such plan in which Executive is eligible to participate but SunTrust or a parent corporation
maintains a short term bonus plan for the benefit of senior executives which provides for such an opportunity, such other plan as agreed to by Executive and the Compensation Committee. 
  
 1.16 Protection Period. The term “Protection Period” for purposes of this Agreement shall (subject to
§ 1.12(f)) mean the three (3) year period which begins on a Change in Control Date. 
  
 1.17 PUP. The term “PUP” for purposes of this Agreement shall mean the SunTrust Banks, Inc. Performance Unit Plan or, if there is any material change in the terms, operation or administration of such
plan following a Change in Control, any successor to such plan in which Executive is eligible to participate and which provides an opportunity for a bonus for Executive which is comparable to the opportunity which Executive had under such plan
before such Change in Control or, if Executive reasonably determines that there is no such plan in which Executive is eligible to participate but SunTrust or a parent corporation maintains a long term bonus plan for the benefit of senior executives
which provides for such an opportunity, such other plan as agreed to by Executive and the Compensation Committee. 
  
 1.18 Restricted Period. The term “Restricted Period” for purposes of this Agreement shall mean the period which starts on the date
Executive’s employment by SunTrust or a SunTrust Affiliate terminates under circumstances which require SunTrust to make the payments and provide the benefits described in § 3 and which ends on the earlier of (a)(i) the first anniversary
of such termination date for purposes of § 5 and (ii) the second anniversary of such termination date for all other purposes under this Agreement, or (b) on the first date following such a termination on which SunTrust either breaches any
obligation to Executive under § 3 or no longer has any obligation to Executive under § 3. 
  
 1.19 SunTrust. The term “SunTrust” for purposes of this Agreement shall mean SunTrust Banks, Inc. and any successor to SunTrust.

 1.20 SunTrust Affiliate. The term “SunTrust Affiliate” for purposes of this Agreement
shall mean any corporation which is a subsidiary corporation (within the meaning of § 424(f) of the Code) of SunTrust except a corporation which has subsidiary corporation status under § 424(f) of the Code exclusively as a result of
SunTrust or a SunTrust Affiliate holding stock in such corporation as a fiduciary with respect to any trust, estate, conservatorship, guardianship or agency. 
  
 1.21 Term. The term “Term” for purposes of this Agreement shall mean the period described in § 2(b). 
  
 1.22 Territory. The term “Territory” for purposes of this
Agreement shall mean all states in which SunTrust conducts a banking business. 
  
 1.23 Trade Secret. The term “Trade Secret” for purposes of this Agreement shall mean information, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a
program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers that: 
  
 (a) derives economic value, actual or potential, from not being generally known to, and not being readily
ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and 
  
 (b) is the subject of reasonable efforts by SunTrust or a SunTrust Affiliate to maintain its secrecy. 
  
 § 2. 
  
 Effective Date and Term 
  
 (a) Effective Date. This Agreement shall be effective on the date of this Agreement as set forth in the signature section of this
Agreement. 
  
 (b) Term. 
  
 (1) The Term of this Agreement shall be the period which
starts on the date on which this Agreement becomes effective under § 2(a) and ends (subject to § 2(b)(2) and § 2(b)(3)) on the third anniversary of such effective date. 
  
 (2) The Term of this Agreement shall automatically be extended for one additional year effective as of the
first anniversary of the date on which this Agreement becomes effective under § 2(a) and one additional year effective as of each such anniversary date thereafter unless either Executive or SunTrust delivers to the other person notice to the
effect that there will be no such one year extension before the beginning of the 90 day period which ends on the anniversary date on which such automatic one year extension otherwise would have been effective. 
  
 (3) (A) If Executive’s Protection Period starts before
the Term of this Agreement (as extended, if applicable, under § 2(b)(2)) expires, the then Term of this Agreement shall automatically be extended until the expiration of such Protection Period. 

 (B) If Executive’s employment terminates during Executive’s Protection Period
under the circumstances described in § 3(a) or if Executive’s employment terminates under the circumstances described in § 3(f) before the Term of this Agreement (as extended, if applicable, under § 2(b)(2)) expires, the then
Term of this Agreement shall automatically be extended until the earlier of (1) the date Executive agrees that all SunTrust’s obligations to Executive under this Agreement have been satisfied in full or (B) the date a final determination is
made pursuant to § 8 that SunTrust has no further obligations to Executive under this Agreement. 
  
 § 3. 
  
 Compensation and Benefits 
  
 (a)
General. If a Change in Control occurs during the Term of this Agreement and 
  
 (1) SunTrust or a SunTrust Affiliate terminates Executive’s employment without Cause during Executive’s Protection Period or

  
 (2) Executive resigns for Good Reason during
Executive’s Protection Period, then: 
  
 (A) Cash Payment. SunTrust shall pay Executive three (3) times Executive’s Current Compensation Package in cash in a lump sum within 30 days after the date Executive’s employment so terminates. 
  
 (B) Stock Options. Each outstanding stock option
granted to Executive by SunTrust shall (subject to § 3(a)(2)(G)) immediately become fully vested and exercisable on the date Executive’s employment so terminates and Executive shall be deemed to continue to be employed by SunTrust for the
period described in § 3(d) for purposes of determining when Executive’s right to exercise each such option expires notwithstanding the terms of any plan or agreement under which such option was granted. 
  
 (C) Restricted Stock. Any restrictions on any
outstanding restricted or performance stock grants to Executive by SunTrust shall (subject to § 3(a)(2)(G)) immediately expire and Executive’s right to such stock shall be non-forfeitable notwithstanding the terms of any plan or agreement
under which such grants were made. 
  
 (D)
Earned but Unpaid Salary, Bonus and Vacation. SunTrust shall promptly pay Executive any earned but unpaid base salary and bonus, shall promptly pay Executive for any earned but untaken vacation and shall promptly reimburse Executive for any
incurred but unreimbursed expenses which are otherwise reimbursable under SunTrust’s expense reimbursement policy as in effect for senior executives immediately before Executive’s employment so terminates. 

 (E) MIP or MIP Alternative. 
  
 (1) General Rule. If Executive participates in the
MIP or in an alternative, functional incentive plan, SunTrust shall (subject to the exception to this general rule set forth in § 3(a)(2)(E)(2)) pay Executive within 30 days after Executive’s employment terminates a portion of
Executive’s target bonus or, if greater, Executive’s projected bonus under the MIP or such alternative plan for the calendar year in which Executive’s employment terminates, where (a) Executive’s projected bonus shall be no less
than the bonus which would have been projected under the projection procedures in effect under the MIP or such alternative plan on the date of the Change in Control and (b) such portion shall be determined by multiplying such target bonus or, if
greater, such projected bonus by a fraction, the numerator of which shall be the number of days Executive is employed in such calendar year and the denominator of which shall be the number of days in such calendar year. 
  
 (2) Exceptions to General Rule. 
  
 (a) No MIP. If Executive participates in a
functional incentive plan and in the PUP but not in the MIP, the payment made to Executive under § 3(a)(2)(E)(1) shall not exceed the payment which would have been made to Executive if Executive instead had been a participant in the MIP.

  
 (b) No MIP and No PUP. If Executive
participates in a functional incentive plan but does not participate in either the MIP or the PUP, the payment made to Executive under § 3(a)(2)(E)(1) shall not exceed the payment which would have been made to Executive if Executive instead had
been a participant in the MIP and in the PUP. 
  
 (c) Determination Rules. SunTrust shall determine the payment which would have been made to Executive under § 3(a)(E)(1) if Executive had been a participant in the MIP and, if applicable, under § 3(a)(F) if Executive had
been a participant in the PUP based on the target bonus or, if greater, the projected bonus for a MIP participant and the target bonus or, if greater, the projected bonus for PUP participant, or for a class of such participants, whose duties,
responsibilities and compensation match, or most closely match, Executive’s duties, responsibilities and compensation before a Change in Control. 
  
 (F) PUP. If Executive participates in the PUP, SunTrust shall pay Executive within 30 days after Executive’s employment
terminates a portion of Executive’s target bonus or, if greater, Executive’s projected bonus under the PUP for each performance cycle in effect on the date Executive’s employment terminates, where (1) Executive’s projected bonus
shall be no less than the bonus which would have been projected under the projection procedures in effect under the PUP on the date of the Change in Control and (2) such portion shall be determined by multiplying such target bonus or, if greater,
such projected bonus by a fraction, the numerator of which shall be the number of days Executive is employed in each such performance cycle and the denominator of which shall be the number of days in each such performance cycle. 

 (b) Continuing Benefit Coverage. If Executive’s employment terminates under
the circumstances described in § 3(a) or § 3(f), SunTrust or a SunTrust Affiliate from the date of such termination of Executive’s employment until the end of Executive’s Protection Period shall provide to Executive medical,
dental and life insurance benefits which are similar in all material respects as those benefits provided under SunTrust’s employee benefit plans, policies and programs to senior executives of SunTrust who have not terminated their employment.
If SunTrust cannot provide such benefits under SunTrust’s employee benefit plans, policies and programs, SunTrust either shall provide such benefits to Executive outside such plans, policies and programs at no additional expense or tax
liability to Executive or shall reimburse Executive for Executive’s cost to purchase such benefits and for any tax liability for such reimbursements. 
  
 (c) No Interference with Vested Benefits. If Executive’s employment terminates under the circumstances described in §
3(a) or § 3(f), Executive shall have a right to any benefits under any employee benefit plan, policy or program maintained by SunTrust or any SunTrust Affiliate (other than the MIP, the PUP and the SunTrust Severance Pay Plan) which Executive
had a right to receive under the terms of such employee benefit plan, policy or program after a termination of Executive’s employment without regard to this Agreement. 
  
 (d) Additional Age and Service Credit. If Executive’s employment terminates under the
circumstances described in § 3(a) or § 3(f), Executive shall be deemed to have been employed by SunTrust throughout Executive’s Protection Period for purposes of computing Executive’s age and service credit on the date
Executive’s employment so terminates under any deferred compensation or welfare plan, policy or program (except a plan described in § 401 of the Code) maintained by SunTrust or a SunTrust Affiliate in which Executive is a participant and
under which Executive’s benefit, or eligibility for a benefit, is based in whole or in part on Executive’s age or service or age and service, and Executive shall receive such age and service credit notwithstanding the terms of any such
plan, policy or program. 
  
 (e) No Increase
in Other Benefits; No Other Severance Pay. If Executive’s employment terminates under the circumstances described in § 3(a) or § 3(f), Executive waives Executive’s right, if any, to have any payment made under this § 3
taken into account to increase the benefits otherwise payable to, or on behalf of, Executive under any employee benefit plan, policy or program, whether qualified or nonqualified, maintained by SunTrust or a SunTrust Affiliate and, further, waives
Executive’s right, if any, to the payment of severance pay under any severance pay plan, policy or program maintained by SunTrust or a SunTrust Affiliate subject to the condition that SunTrust not be relieved of any of its obligations to
Executive under this § 3 pursuant to § 3(g) or § 3(h). 
  
 (f) Termination in Anticipation of Change in Control Date. Executive shall be treated under § 3(a) as if Executive’s employment had been terminated without Cause or Executive had resigned for Good
Reason during Executive’s Protection Period if (1)(A) Executive’s employment is terminated by SunTrust or a SunTrust Affiliate without Cause after a Change in Control but before the Change in Control Date which results from such Change in
Control or (B) Executive resigns for Good Reason after a Change in Control but before the Change in Control Date which results from such Change in Control, (2) 

 such Change in Control occurs on or after the date this Agreement becomes effective under § 2 and
(3) there is a Change in Control Date which results from such Change in Control. 
  
 (g) Death or Disability. Executive agrees that SunTrust will have no obligations to Executive under this § 3 if
Executive’s employment terminates exclusively as a result of Executive’s death or Executive has a Disability Termination. 
  
 (h) Release. Executive agrees that SunTrust will have no obligations to Executive under this § 3 until Executive executes the
form of release which is attached as Exhibit A to this Agreement and, further, will have no further obligations to Executive under this § 3 if Executive revokes such release. 
  
 § 4. 
  
 Noncompetition 
  
 (a) No Competitive Activity. Absent the Compensation Committee’s written consent, Executive shall not, during the Restricted
Period and within the Territory, engage in any Managerial Responsibilities, for or on behalf of, any corporation, partnership, venture, or other business entity that engages directly or indirectly in the Financial Services Business whether as an
owner, partner, employee, agent, consultant, advisor, contractor, salesman, stockholder, investor, officer or director; provided, however, Executive may own up to five percent (5%) of the stock of a publicly traded company that engages in the
Financial Services Business so long as Executive is only a passive investor and is not actively involved in such company in any way. 
  
 (b) No Solicitation of Customers or Clients. Executive shall not during the Restricted Period solicit any customer or client of
SunTrust or any SunTrust Affiliate with whom Executive had any material business contact during the two (2) year period which ends on the date Executive’s employment by SunTrust or a SunTrust Affiliate terminates for the purpose of competing
with SunTrust or any SunTrust Affiliate for any reason, either individually, or as an owner, partner, employee, agent, consultant, advisor, contractor, salesman, stockholder, investor, officer or director of, or service provider to, any corporation,
partnership, venture or other business entity. 
  
 § 5.

  
 Antipirating of Employees 
  
 Absent the Compensation Committee’s written consent, Executive will not
during the Restricted Period solicit to employ on Executive’s own behalf or on behalf of any other person, firm or corporation, any person who was employed by SunTrust or a SunTrust Affiliate during the term of Executive’s employment by
SunTrust or a SunTrust Affiliate (whether or not such employee would commit a breach of contract), and who has not ceased to be employed by SunTrust or a SunTrust Affiliate for a period of at least one (1) year. 

 § 6. 
  
 Trade Secrets and Confidential Information 
  
 Executive hereby agrees that Executive will hold in a fiduciary capacity for the benefit of SunTrust and each SunTrust Affiliate, and will not directly or
indirectly use or disclose, any Trade Secret that Executive may have acquired during the term of Executive’s employment by SunTrust or a SunTrust Affiliate for so long as such information remains a Trade Secret. 
  
 Executive in addition agrees that during the Restricted Period Executive will
hold in a fiduciary capacity for the benefit of SunTrust and each SunTrust Affiliate, and will not directly or indirectly use or disclose, any Confidential or Proprietary Information that Executive may have acquired (whether or not developed or
compiled by Executive and whether or not Executive was authorized to have access to such information) during the term of, in the course of, or as a result of Executive’s employment by SunTrust or a SunTrust Affiliate. 
  
 § 7. 
  
 Reasonable and Necessary Restrictions and Non-Disparagement 
  
 Executive acknowledges that the restrictions, prohibitions and other
provisions set forth in this Agreement, including without limitation the Territory and Restricted Period, are reasonable, fair and equitable in scope, terms and duration; are necessary to protect the legitimate business interests of SunTrust; and
are a material inducement to SunTrust to enter into this Agreement. Executive covenants that Executive will not challenge the enforceability of this Agreement nor will Executive raise any equitable defense to its enforcement. Further, Executive and
SunTrust each agree not to knowingly make false or materially misleading statements or disparaging comments about the other during the Restricted Period. 
  
 § 8. 
  
 Arbitration 
  
 Any dispute, controversy or claim arising out of or relating to this Agreement shall be determined by binding arbitration in accordance with Title 9 of the United States Code and the applicable set of arbitration rules of the American
Arbitration Association. Judgment upon any award made in such arbitration may be entered and enforced in any court of competent jurisdiction. All statutes of limitation which would otherwise be applicable in a judicial action brought by a party
shall apply to any arbitration or reference proceeding hereunder. Neither SunTrust nor Executive shall appeal such award to or seek review, modification, or vacation of such award in any court or regulatory agency. Unless otherwise agreed, venue for
arbitration shall be in Atlanta, Georgia. All of Executive’s reasonable costs and expenses incurred in connection with such arbitration shall be paid in full by SunTrust promptly on written demand from Executive, including the arbitrators’
fees, administrative fees, travel expenses, out-of-pocket expenses such as copying and telephone, court costs, witness fees and attorneys’ fees; provided, however, SunTrust shall pay no more than $50,000 in attorneys’ fees unless a higher
figure is awarded in the arbitration, in which event SunTrust shall pay the figure awarded in the arbitration. 

 § 9. 
  
 Tax Protection 
  
 If SunTrust or SunTrust’s independent accountants determine that any payments and benefits called for under this Agreement together with any other
payments and benefits made available to Executive by SunTrust or a SunTrust Affiliate will result in Executive being subject to an excise tax under § 4999 of the Code or if such an excise tax is assessed against Executive as a result of any
such payments and other benefits, SunTrust shall make a Gross Up Payment to or on behalf of Executive as and when any such determination or assessment is made, provided Executive takes such action (other than waiving Executive’s right to any
payments or benefits) as SunTrust reasonably requests under the circumstances to mitigate or challenge such tax. Any determination under this § 9 by SunTrust or SunTrust’s independent accountants shall be made in accordance with §
280G of the Code and any applicable related regulations (whether proposed, temporary or final) and any related Internal Revenue Service rulings and any related case law and, if SunTrust reasonably requests that Executive take action to mitigate or
challenge, or to mitigate and challenge, any such tax or assessment (other than waiving Executive’s right to any payment or benefit) and Executive complies with such request, SunTrust shall provide Executive with such information and such
expert advice and assistance from SunTrust’s independent accountants, lawyers and other advisors as Executive may reasonably request and shall pay for all expenses incurred in effecting such compliance and any related fines, penalties, interest
and other assessments. 
  
 § 10. 
  
 Miscellaneous Provisions 
  
 10.1 Assignment. This Agreement is for the personal services of
Executive, and the rights and obligations of Executive under this Agreement are not assignable in whole or in part by Executive without the prior written consent of SunTrust. This Agreement is assignable in whole or in part to any successor to
SunTrust. However, if SunTrust as part of any Change in Control transaction fails to assign SunTrust’s obligations under this Agreement to SunTrust’s successor or such successor fails to expressly agree to such assignment on or before the
Change in Control Date, SunTrust on the Change in Control Date shall (without any further action on the part of Executive) take the action called for in § 3 of this Agreement as if Executive had been terminated without Cause without regard to
whether Executive’s employment actually has terminated. 
  
 10.2 Governing Law. This Agreement will be governed by and construed under the laws of the State of Georgia (without reference to the choice of law principles thereof), except to the extent superseded by federal law. 
  
 10.3 Counterparts. This Agreement may be executed in counterparts,
each of which will be deemed an original, but all of which together will constitute one and the same instrument. 
  
 10.4 Headings; References. The headings and captions used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. Any reference to a section (§ ) shall be to a section (§ ) of this Agreement unless there is an express reference to a section (§ ) of the Code or the Exchange Act, in which event the
reference shall be to the Code or to the Exchange Act, whichever is applicable. 
  
 10.5 Amendments and Waivers. Except as otherwise specified in this Agreement, this Agreement may be amended, and the observance of any term of this Agreement may be waived (either generally or in a particular
instance and either retroactively or prospectively), only with the written consent of SunTrust and Executive. 

 10.6 Severability. Any provision of this Agreement held to be unenforceable under applicable law
will be enforced to the maximum extent possible, and the balance of this Agreement will remain in full force and effect. 
  
 10.7 Entire Agreement. This Agreement constitutes the entire understanding and agreement of SunTrust and Executive with respect to the matters
contemplated in this Agreement, and supersedes all prior understandings and agreements between SunTrust and Executive with respect to such transactions, including but not limited to, the Change in Control Agreement dated January 24th, 2003. 
  
 10.8 Notices. Any notice required hereunder to be given by either SunTrust or Executive will be in writing and will be deemed effectively given
upon personal delivery to the party to be notified or five (5) days after deposit with the United States Post Office by registered or certified mail, postage prepaid, to the other party at the address set forth below or to such other address as
either party may from time to time designate by ten (10) days advance written notice pursuant to this § 10.8. All such written communication will be directed as follows: 
  
 If to SunTrust: 
  

SunTrust Banks, Inc. 
 Attention: Chief Executive Officer 
 303 Peachtree St., NE, 30th Floor 
 Atlanta, GA 30308 
  
 If to Executive, to the most recent address
Executive has provided to SunTrust for inclusion in Executive’s personnel records. 
  
 10.9 Binding Effect. This Agreement shall be for the benefit of, and shall be binding upon, SunTrust and Executive and their respective heirs, personal representatives, legal representatives, successors and
assigns, subject, however, to the provisions in § 10.1 of this Agreement. 
  
 10.10 Not an Employment Contract. This Agreement is not an employment contract and shall not give Executive the right to continue in employment by SunTrust or a SunTrust Affiliate for any period of time or from
time to time. Moreover, this Agreement shall not adversely affect the right of SunTrust or a SunTrust Affiliate to terminate Executive’s employment with or without cause at any time. 

 IN WITNESS WHEREOF, SunTrust and Executive have entered into this Agreement on August
10th, 2004, and such date shall be the date of this Agreement. 
  

					
	SUNTRUST BANKS, INC.	  	EXECUTIVE
			
	By:	  	 /s/ Mary T. Steele

	  	 /s/ Mark A. Chancy

	 	  	Mary T. Steele	  	Mark A. Chancy
			
	Title:	  	 Senior Vice President and
 Human Resources
DirectorAgreement by and between the Registrant and Eugene Davis

 Exhibit 10.32 
  

			
	 	 	 2600 Campus Drive

	 	 San Mateo, California 94403

	 	 Tel +1-650-356-4000

	 	 Fax +1-650-356-4001

	 	 www.bluemartini.com

  
 August 27, 2004 
  
 Gene Davis 
 1701 Black Mountain Road 
 Hillsborough, California 94010 
  
 Dear Gene: 
  
 Blue Martini Software, Inc. (“BMS”) is pleased to offer you the position of Vice President, Product Development on
the following terms: 
  
 You will be responsible for global
product development of BMS products as well as such other duties and obligations as may be designated by the Company that are reasonably consistent with your job title. You will report directly to me and will work at our corporate headquarters in
San Mateo, California, with visits to customer sites and other travel as required. 
  
 Your annual base salary will be $200,000, less payroll deductions and all required withholdings. You will be paid on the 15th and last day of each month and will be eligible for participation in a wide array of BMS benefit programs. Details about these benefit programs will be reviewed during your New Hire Orientation.

  
 Other details regarding our offer are: 
  

	 	•	 	You will be eligible to participate in the Blue Martini Software Executive Incentive Plan, awarded annually. This incentive plan provides for an additional target incentive of up to
40% of your annual base salary, based on your individual performance against objectives approved by your manager within 30 days from your start date. This incentive plan is funded by company financial performance and is contingent upon successful
achievement of these corporate financial objectives. Please note, at the discretion of management, the bonus plan may be terminated or modified at any time. 

  

	 	•	 	We will recommend to the Board of Directors that you be granted a non-qualified stock option to purchase 75,000 shares of the company’s Common Stock with an exercise price
determined by the Board of Directors at its next regular meeting after your start date. Terms relative to the stock program will be as set forth in the stock agreement provided to you after the options are granted. 

  

	 	•	 	We will recommend to the Board of Directors that you receive a supplemental performance grant of an option to purchase 25,000 shares of the company’s common stock, vesting on
the fifth anniversary of your start date. The vesting of this grant may be accelerated based on achievement of specific written objectives established by me within 90 days of your start date. 

  

	 	•	 	If your employment with Blue Martini is terminated without cause, you will be eligible to receive a severance payment (contingent upon signing the Company’s standard form of
release) equal to three months of your base salary at the time of termination. If your employment is terminated without cause in connection with a Change in Control, you will be eligible to receive a severance payment (contingent upon signing the
Company’s standard form of release) equal to six months of your base salary at the time of termination If, at any time, you resign without good reason or are terminated for cause, you will not be entitled to receive severance.

	 	•	 	“Cause” means the occurrence of one or one or more of the following: (i) conviction of a felony or a crime involving moral turpitude, fraud, or an act of dishonesty
against Blue Martini; (ii) gross misconduct or gross negligence in the performance of your responsibilities which, based upon good faith and reasonable factual investigation, demonstrates unfitness to serve; (iii) violation or breach of any Blue
Martini policy or any statutory, fiduciary, or contractual duty of yours to Blue Martini; or (iv) gross nonperformance and dereliction of duty (for example, failure to know the details of projects under your management, or failure to manage your
staff). 

  

	 	•	 	“Change in Control” means a merger or acquisition involving the Company in which the Company’s pre-transaction stockholders own less than 50% of the post-transaction
entity after the transaction. 

  
 As a BMS employee,
you will be expected to abide by BMS rules and regulations, and sign and comply with the attached Employee Proprietary Information and Inventions Agreement, which prohibits unauthorized use or disclosure of our proprietary information or the
proprietary information of others. Furthermore, in accepting our offer, you acknowledge that you are not under any agreement that would prevent you from fulfilling the duties and responsibilities set forth in employment with BMS. 
  
 Core business hours are from 8:00am to 5:00pm, Monday through Friday. Your
specific working hours will be approved by me as your manager. As an exempt salaried employee, you will be expected to work additional hours as required by the nature of your work assignments. 
  
 You may terminate your employment with BMS at any time and for any reason or
no reason simply by notifying the company. Likewise, BMS may terminate your employment at any time and for any reason or no reason, with or without cause or advance notice. This “at-will” employment relationship cannot be changed except in
writing signed by an authorized BMS officer. If you leave BMS and owe any money, you authorize BMS to make the applicable deductions from any amounts BMS owes you. Participation in any of our stock, compensation, benefit, and immigration programs is
not to be regarded as a guarantee of continued employment for any particular period of time. In addition, BMS may change your position, duties, work location, compensation, and benefits from time to time, as it deems necessary. 
  
 As required by law, this offer is subject to satisfactory proof of your right
to work in the United States. Please note that because of regulations adopted in the Immigration Reform and Control Act of 1986 (IRCA), we will require that you present documentation demonstrating that you have authorization to work in the United
States on your first day at BMS. If you have any questions about this requirement, which applies to United States citizens and non-United States citizens alike, please contact Jennifer Dumalag, Manager, Benefits & Human Resources Operations at
(650) 356-7664. 
  
 On your first day at BMS, you are required to
attend New Hire Orientation conducted by Human Resources. This meeting is held at 9:30 am at our corporate headquarters located at 2600 Campus Drive, San Mateo, California 94403. If you will be off-site on your first day, please contact Jennifer
Dumalag, at (650) 356-7664 before your first day to arrange for conference call participation in the meeting. 
  
 This letter, together with other agreements referenced in this letter, forms the complete and exclusive statement of your employment agreement with BMS.
The employment terms in this letter supersede any other agreements or promises made to you by anyone, whether oral or written. 
  
 As acceptance of the employment terms described above, please sign and date this letter and return the originals of all documents in this package to HR
Operations, at 2600 Campus Drive, Suite 100, San Mateo, California, 94403 by Monday, August 30, 2004. Please retain a copy of this offer letter for your records. If you accept our offer, your start date will be Monday, September 13, 2004.

 We look forward to your favorable reply and to a productive and enjoyable working relationship with you.

  
 Very truly yours, 
  

	
	 /s/    MONTE ZWEBEN

	 Monte Zweben

	 Chief Executive Officer

  
 Enclosures 
  
 I accept the employment terms stated in this letter, and expect to commence
employment on September 13, 2004. 
  

	
	 /s/    EUGENE DAVIS

	 Candidate’s Signature

	 Date: August 31, 2004

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