Document:

SunTrust Banks, Inc. MIP

 Exhibit 10.1 
 SUNTRUST BANKS, INC. MANAGEMENT INCENTIVE PLAN 
 Amended and
Restated 
 As of January 1, 2010 
 Section 1.       Name and Purpose 
 The
name of this Plan is the SunTrust Banks, Inc. Management Incentive Plan. The purpose of the Plan is to promote the interests of the Corporation and its stockholders through the granting of Awards to select employees of the Corporation and its
Subsidiaries in order to motivate and retain superior employees who contribute in a significant manner to the actual financial performance of the Corporation as measured against pre-established financial and other goals. 
 Section 2.       Term and Amendment 
 This amended and restated Plan is effective as of January 1, 2010. The terms of the Plan as set forth in this amended and restated document shall apply to all Awards granted on or after
January 1, 2010; provided, however, if the Corporation’s shareholders fail to approve the material terms of the performance goals for this amended and restated Plan at their annual meeting in 2010, any Award granted under the Plan for 2010
to a Participant who is a Covered Employee for 2010 shall be cancelled and shall have no further force or effect whatsoever and no further Awards shall be granted to any Covered Employee under the Plan. The Plan shall continue for an indefinite term
until terminated by the Board; provided, however, that the Corporation and the Committee after such termination shall continue to have full administrative power to take any and all action contemplated by the Plan which is necessary or desirable and
to make payment of any Awards earned by Participants during any then unexpired Plan Year. The Board or the Committee may amend the Plan in any respect from time to time. 
 Section 3.       Definitions and Construction 
 A.   As used in this Plan, the following terms shall have the meanings indicated, unless the context clearly requires another meaning: 
 1.         “Award” means the right to receive a cash payment which represents a percentage of a Participant’s Base Wages determined by the Committee
in accordance with Section 5 hereof in the event the Corporation, Subsidiary, Business Unit or individual achieves the Financial Goals or other goals established pursuant to Section 5. 
 2.         “Base Wages” means the base salary paid to a Participant by the Corporation or
a Subsidiary during a Plan Year, excluding bonuses, overtime, commissions and other extra compensation, reimbursed expenses and contributions made by the Corporation or a Subsidiary to this or any other employee benefit plan maintained by the
Corporation or a Subsidiary. 
 3.         “Board” means the Board of
Directors of the Corporation. 
 4.         “Business Unit” means a division
or other business unit of the Corporation or a Subsidiary designated as a distinct entity for the purpose of setting goals and measuring performance. 
 5.         “Code” means the Internal Revenue Code of 1986, as amended. 
 6.         “Committee” means the Compensation Committee of the Board or any other Committee of the Board to which the responsibility to administer this
Plan is delegated by the Board; such Committee shall consist of at least two members of the Board, who shall not be eligible to receive an Award under the Plan and each of whom shall be a “disinterested” person within the meaning of Rule
16b-3 under the Securities Exchange Act of 1934 and shall be or be treated as an “outside director” for purposes of Code section 162(m). 

 7.         “Corporation” means SunTrust
Banks, Inc. and any successor. 
 8.         “Covered Employee” means for each
calendar year the Chief Executive Officer of the Corporation and the other most highly compensated executive officers, as defined under Code section 162(m)(3), whose compensation would be reportable on the “summary compensation table”
under the Securities and Exchange Commission’s executive compensation disclosure rules, as set forth in Item 402 of Regulation S-K, 17 C.F.R. 229.402, under the Securities Exchange Act of 1934, if the report was prepared as of the last day
of such calendar year. 
 9.         “Change in Control” means a change in
control of the Corporation 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 Securities Exchange Act of 1934 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 Securities Exchange Act of 1934), is or becomes the
beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) directly or indirectly, of securities representing 20% or more of the combined voting power for election of directors of the then outstanding securities of the
Corporation or any successor of the Corporation; (ii) during any period of two (2) 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
such 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) there is a consummation
of any reorganization, merger, consolidation or share exchange as a result of which the common stock of the Corporation shall be changed, converted or exchanged into or for securities of another corporation (other than a merger with a wholly-owned
subsidiary of the Corporation) or any dissolution or liquidation of the Corporation or any sale or the disposition of 50% or more of the assets or business of the Corporation; or (iv) there is a consummation of 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 the Corporation 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 Section 3A.9(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 the Corporation’s common stock immediately before the consummation of such transaction, provided (C) the percentage described in Section 3A.9(iv)(A) of the beneficially owned shares of the successor or
survivor corporation and the number described in Section 3A.9(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 the Corporation by the persons described in Section 3A.9(iv)(A) immediately before the consummation of such transaction. 
 10.         “Employment” means continuous employment with the Corporation or a Subsidiary
from the beginning to the end of each Plan Year, which continuous employment shall not be considered to be interrupted by transfers between the Corporation and a Subsidiary or between Subsidiaries. 
 11.         “Final Value” means the value of an Award determined in accordance with
Sections 5 and 6 as the basis for payments to Participants at the end of a Plan Year. 
 12.
        “Financial Goals” means the financial objectives set by the Committee for each Plan Year pursuant to Section 5 from one or any combination of the following: (i) the
Corporation’s return over capital costs or increase in return over capital costs; (ii) the Corporation’s total earnings or the growth in such earnings; (iii) the Corporation’s consolidated earnings or the growth in such
earnings; (iv) the Corporation’s earnings per share or the growth in such earnings; (v) the Corporation’s net earnings or the growth

  

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in such earnings; (vi) the Corporation’s earnings before interest expense, taxes, depreciation, amortization and other non-cash items or the growth in such earnings; (vii) the
Corporation’s earnings before interest and taxes or the growth in such earnings; (viii) the Corporation’s consolidated net income or the growth in such income; (ix) the value of the Corporation’s common stock or the growth
in such value; (x) the Corporation’s stock price or the growth in such price; (xi) the Corporation’s return on assets or the growth on such return; (xii) the Corporation’s total shareholder return or the growth in such
return; (xiii) the Corporation’s expenses or the reduction of expenses; (xiv) the Corporation’s sales growth; (xv) the Corporation’s overhead ratios or changes in such ratios; (xvi) the Corporation’s
expense-to-sales ratios or changes in such ratios; (xvii) the Corporation’s economic value added or changes in such value added; (xviii) the market capitalization of the Corporation’s stock; (xix) the Corporation’s
revenue growth; (xx) the Corporation’s efficiency ratios or the changes in such ratios; (xxi) return on equity; (xxii) return on tangible equity; (xxiii) cash return on equity; (xiv) cash return on tangible equity;
(xxv) net income available to common shareholders; (xxvi) book value per share; (xxvii) pre-tax income or growth; (xxviii) operating earnings per share of stock or growth (excluding one-time, non-core items); (xxix) cash
earning per share of stock or growth; (xxx) cash operating earnings per share of stock or growth (excluding one-time, non-core items); (xxxi) cash return on assets; (xxxii) operating leverage; (xxxiii) net interest margin;
(xxxiv) Tier 1 capital; (xxxv) risk-adjusted net interest margin; (xxxvi) total risk-based capital ratio; (xxxvii) tangible equity and tangible assets; (xxxviii) tangible common equity and tangible assets;
(xxxix) tangible book value and share; (xl) loan balances or growth; (xli) deposit balances or growth; (xlii) low cost deposit balances or growth; or (xliii) with respect to participants other than Covered Employees, such
other financial performance measures deemed appropriate by the Committee. 
 13.
        “Participant” means a select employee of the Corporation and/or its Subsidiaries who is selected by the Committee or the Committee’s delegate to participate in the Plan based upon the
employee’s substantial contributions to the future growth and future profitability of the Corporation and/or its Subsidiaries. 
 14.         “Plan” means the SunTrust Banks, Inc. Management Incentive Plan as amended and restated in this document and all subsequent amendments. 
 15.         “Plan Year” means a single calendar year period as set by the Committee which
commences on the first day of such period. 
 16.         “Proportionate Final
Value” means the product of a fraction, the numerator of which is the actual number of days in a Plan Year that an employee was employed by the Corporation or a Subsidiary and the denominator of which is the total number of days in that Plan
Year, multiplied by the Final Value of an Award. Alternatively, the Committee may, in its discretion and on a consistent basis for all similarly situated Participants, determine the Proportionate Final Value of an Award as the product of the
“specified percent,” if any, determined in accordance with Sections 5 and 6 as the basis for the payment to a Participant at the end of the Plan Year to which the Award relates, multiplied by the Base Wages actually paid to the Participant
in such Plan Year. 
 17.         “Subsidiary” means any bank, corporation or
entity which the Corporation controls either directly or indirectly through ownership of fifty percent (50%) or more of the total combined voting power of all classes of stock of such bank, corporation or entity, except for such direct or
indirect ownership by the Corporation while the Corporation or a Subsidiary is acting in a fiduciary capacity with respect to any trust, probate estate, conservatorship, guardianship or agency. 
 18.         “Termination Value” means the value of an Award as determined by the
Committee, in its absolute discretion, upon the early termination of a Plan Year, which value shall be the basis for the payment of an Award to a Participant, in accordance with Section 8A or 8B of the Plan based on the Participant’s
Employment prior the early termination of such Plan Year. 
 B.   In the construction of the Plan, the masculine shall
include the feminine and the singular shall include the plural in all instances in which such meanings are appropriate. The Plan and all agreements executed pursuant to the Plan shall be governed by the laws of Georgia (excluding its choice-of-law
rules). 
 Section 4.       Committee Responsibilities 
 A.   The Committee may, from time to time, adopt rules and regulations and prescribe forms and procedures for carrying out the
purposes and provisions of the Plan. The Committee shall have the sole and final authority to designate Participants, determine Awards, designate the Plan Year, determine Financial Goals and other goals, determine Final Value of Awards, and answer
all questions arising under the Plan, including questions on the proper construction and interpretation of the Plan. Any interpretation,

  

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decision or determination made by the Committee shall be final, binding and conclusive upon all interested parties, including the Corporation and its Subsidiaries, Participants and other
employees of the Corporation or any Subsidiary, and the successors, heirs and representatives of all such persons. The Committee shall use its best efforts to ensure that Awards to Covered Employees under the Plan qualify as “performance-based
compensation” for purposes of Code section 162(m). 
 B.   Subject to the express provisions of the Plan and
within the first ninety (90) days of a calendar year (or such time as may be permitted for Awards paid for such year to be treated as performance-based compensation under Code section 162(m)), the Committee shall in writing: 
 1.         Designate the Plan Year which shall begin on the first day of such year. 
 2.         Designate the Participants for each such Plan Year. 
 3.         Establish the Financial Goals or other goals for the Corporation, designated Subsidiaries
and Business Units and Participants for each such Plan Year. 
 4.         Establish the
method of calculating the Final Value of each Award. 
 5.         Authorize management
(a) to notify each Participant that he has been selected as a Participant and to inform him of the Financial Goals or other goals that have been established for such Plan Year and (b) to obtain from him such agreements and powers and
designations of beneficiaries as it shall reasonably deem necessary for the administration of the Plan. 
 C.   During
any Plan Year, the Committee may, if it determines that it will promote the purpose of the Plan, designate as additional Participants any employees of the Corporation and its Subsidiaries who have been hired, transferred or promoted into a position
eligible for participation in the Plan. The individual’s designation as a Participant shall be subject to the same restrictions, limitations, Financial Goals or other goals and other conditions as those held by other Participants for the same
Plan Year and their participation may be made retroactive to the first day of such Plan Year. 
 D.   During any Plan
Year, the Committee may, if it determines it will promote the purpose of the Plan, revoke the Committee’s prior designation of an employee as a Participant under the Plan for a Plan Year. 
 E.   For Participants other than Covered Employees subject to Section 5A, the Committee may revise the Financial Goals or
other goals for any Plan Year to the extent the Committee, in the exercise of its absolute discretion, believes necessary to achieve the purpose of the Plan in light of any unexpected or unusual circumstances or events, including, but not limited
to, changes in accounting rules, accounting practices, tax laws and regulations, or in the event of mergers, acquisitions, divestitures, unanticipated increases in Federal Deposit Insurance premiums, and extraordinary or unanticipated economic
circumstances. 
 F.   The Committee may delegate any of its responsibilities under this Plan to such members of
management of the Corporation as the Committee shall select, provided that no such delegation shall be made that has the effect of causing an award to a Covered Employee to fail to qualify as “performance-based compensation” for purposes
of Code section 162 (m). 
 Section 5.       Goals 
 A.   Financial Goals for Covered Employees 
 This Section 5A applies to each Participant who the Committee expects to be a Covered Employee and any other Participant, as determined by the Committee in its discretion. For each Plan Year, the
Committee shall establish for each Participant who is expected to be a Covered Employee and, at the Committee’s discretion, for any other Participant one or more Financial Goals. These

  

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Financial Goals may be established in any manner the Committee deems appropriate, including achievement on an absolute or a relative basis as compared to peer groups or indexes, and these goals
may be established as multiple goals or as alternative goals. The Committee shall determine the Final Value of each Award as a specified percent of the Participant’s Base Wages based on the attainment of such Financial Goals for the Plan Year.
The Committee shall fix a minimum Financial Goal for the Plan Year, and the Final Value of an Award shall be equal to zero if the minimum Financial Goal is not achieved. The Committee may also fix a maximum Financial Goal and such other Financial
Goals which fall between the maximum and minimum Financial Goals as the Committee shall deem appropriate, with corresponding Final Values for such Awards with respect to the Corporation. Subject to Section 6B, Awards will be determined based
upon achieving or exceeding the Financial Goals set by the Committee, and the Committee may establish Financial Goals with the expectation and understanding that the Committee nevertheless will reduce a Covered Employee’s Award based on the
achievement of such Financial Goals in accordance with Section 6B to a level commensurate with a Covered Employee’s achievement of other goals set by the Committee. Straight line interpolation will be used to calculate Awards when
performance falls between any two specified Financial Goals. In determining whether any Financial Goal has been satisfied, the Committee may exclude any or all extraordinary items (as determined under U.S. generally accepted accounting principles),
and any other unusual or non-recurring items, including but not limited to, charges or costs associated with restructurings of the Corporation, discontinued operations and the cumulative effects of accounting changes. In addition, the Committee may
adjust any Financial Goal for a Plan Year as it deems equitable to recognize unusual or non-recurring events affecting the Corporation, changes in tax laws or accounting procedures and any other factors as the Committee may determine (including
adjustments that would result in the Corporation’s payment of non-deductible compensation). The Committee shall identify any such exclusions and adjustments which the Committee will use to determine whether a Financial Goal has been satisfied
by a Covered Employee when the Committee sets the related Financial Goals. No Participant may receive an Award in excess of $5 million for any given Plan Year. 
 B.   Goals for Other Participants 
 For each Plan Year, the
Committee may establish for each Participant (other than a Participant who is expected to be a Covered Employee) goals in addition to or in lieu of any Financial Goals established under Section 5A based on the performance of the Corporation, a
Subsidiary, a Business Unit or the individual or any combination of the foregoing. These goals may be established based on a combination of financial measurements and non-financial measurements that are deemed to further corporate objectives,
including such measurements as business unit net income, revenue growth, budget management, achievement of talent management objectives, achievement of corporate objectives, individual objectives, and service quality. Straight line interpolation
will be used to calculate Awards when results fall between any two specified goals established under this Section 5B. No Participant may receive an Award in excess of $5 million for any given Plan Year. 
 Section 6.       Payment of Awards 
 A.   Promptly after the date on which the necessary information for a particular Plan Year becomes available, the Committee, or such persons as the Committee shall designate, shall determine in
accordance with Section 5 the extent to which the Financial Goals or other goals have been achieved for such Plan Year and authorize the cash payment of the Final Value of an Award, if any, to each Participant. The Committee shall review and
ratify the Award determinations and shall certify such Award determinations in writing. Payment of Awards shall be made in the year following the relevant Plan Year and as soon as practical after the certification of Awards by the Committee, but no
later than March 15 of the year following the Plan Year to which the Award relates. Each Award shall be paid in cash after deducting the amount of applicable Federal, state, and local withholding taxes of any kind required by law to be withheld
by the Corporation. All Awards, whether paid currently or paid under any plan which defers payment, shall be payable out of the Corporation’s general assets. Each Participant’s claim, if any, for the payment of an Award, whether made
currently or made under any plan which defers payment, shall not be superior to that of any general and unsecured creditor of the Corporation. If an error or omission is discovered in any of the determinations, the Committee shall cause an
appropriate equitable adjustment to be made in order to remedy such error or omission. 
  

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 B.   Notwithstanding the terms of any Award and the achievement of any Performance
Goals, the Committee in its sole and absolute discretion may reduce the amount of the Award payable to any Participant for any reason, recognizing on the one hand that the Committee may establish Financial Goals with the expectation and
understanding that the Committee nevertheless will reduce a Covered Employee’s Award based on the achievement of such Financial Goals in accordance with this Section 6B to a level commensurate with a Covered Employee’s achievement of
other goals set by the Committee and recognizing on the other hand that the Committee may determine (among other things) that the Financial Goals or other goals underlying an Award had become an inappropriate measure of achievement for a
Participant, that there was a change in the Participant’s employment status, position or duties or in the Committee’s expectation of his or her level of performance or that the Participant was working for less than the entire Plan Year.

 C.   In accordance with the terms set forth in the SunTrust Banks, Inc. Deferred Compensation Plan, a Participant
may elect to defer receipt of a portion of his Award, if any, for each Plan Year, and any such election shall be made in accordance with the procedures and limits established under such deferred compensation plan. 
 D.   In the event that any Award is at any time determined, in the sole determination of the Committee, to have been made based on
materially inaccurate financial statements or the achievement of any other materially inaccurate performance metric criteria or Financial Goals, then STI shall have the right to recover such amount from the participant to the extent the actual
payment made to the participant exceeded the amount that would have been paid to the participant if the financial statements, Financial Goals, or other performance metric or other criteria had been calculated correctly. Participant expressly agrees
that such right of recovery shall include the right to withhold payment to participant of any amount otherwise payable to participant and/or to setoff against any amount held on participant’s behalf, excluding amounts subject to Code section
409A. 
 Section 7.       Participation for Less Than a Full Plan Year 
 A.   Except as otherwise provided in this Section 7 or in Section 8 or except as otherwise announced by the Committee,
an Award to a Participant shall be forfeited if the Participant’s Employment terminates during the Plan Year to which the Award relates or during the period January 1 through the last day of February of the year immediately following the
end of the Plan Year to which the Award relates. If a Participant terminates Employment during the period January 1 through the last day of February of the year immediately following the end of the Plan Year to which an Award relates, and if
such termination of Employment is because of his death, his disability as described in Section 7C, or his early or normal retirement or a reduction in force which results in a severance benefit payment as described in Section 7D, then the
Committee shall waive the Employment condition and authorize the payment of the Award to the Participant based on the Final Value, if any, of his Award, unless the Committee in its discretion feels the Award should be forfeited. No payment is due
the Participant for any forfeited Award. 
 B.   If a Participant’s Employment terminates prior to the end of any
Plan Year on account of his death, the Committee shall waive the Employment condition and shall authorize the payment of an Award on behalf of such Participant in accordance with Section 9B at the end of such Plan Year based on the
Proportionate Final Value, if any, of his Award, unless the Committee in its discretion feels the Award should be forfeited. 
 C.   If a Participant’s Employment terminates prior to the end of any Plan Year on account of disability under a long-term disability plan maintained by the Corporation or a Subsidiary, the Committee shall waive the
Employment condition and shall authorize the payment of an Award to such Participant at the end of such Plan Year based on the Proportionate Final Value, if any, of his Award, unless the Committee in its discretion feels the Award should be
forfeited. 
 D.   If a Participant’s Employment terminates prior to the end of any Plan Year on account of his
early retirement (age 55 plus 5 years of vesting service) or normal retirement (the later of age 65 or 5 years of vesting service) as determined under the terms of the SunTrust Banks, Inc. Retirement Plan, or on account of a reduction in force which
results in a severance benefit payment to the Participant pursuant to the terms of the SunTrust Banks, Inc. Severance Pay Plan or any successor to such plan, the Committee shall waive the Employment condition and shall authorize the payment of an
Award to such Participant at the end of such Plan Year based on the Proportionate Final Value, if any, of his Award, unless the Committee in its discretion feels the Award should be forfeited. 
  

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 Section 8.       Premature Satisfaction of Plan Conditions

 A.   In the event a Change in Control occurs prior to the end of any Plan Year, the Committee shall waive any and
all Plan conditions and shall authorize the payment of an Award immediately to each Participant based on the Termination Value, if any, of his Award; provided, however, if an Award is then subject to Code section 409A, the payment of such Award
pursuant to this Section 8A shall not be made unless the Change in Control also constitutes, and such payment is made upon, a change in the ownership or effective control of the Corporation or in the ownership of a substantial portion of the
assets of the Corporation within the meaning of Code section 409A(a)(2)(A)(v). 
 B.   If a tender or exchange offer
is made other than by the Corporation for shares of the Corporation’s stock and results in a “change of ownership or control” within the meaning of Code section 162(m) prior to the end of any Plan Year, the Committee may waive any and
all Plan conditions and authorize, at any time after the change in ownership or control and within thirty (30) days following completion of such tender or exchange offer, the payment of an Award immediately to each Participant based on the
Termination Value, if any, of his Award; provided, however, if an Award is then subject to Code section 409A, the payment of such Award pursuant to this Section 8B shall not be made unless the tender or exchange offer also constitutes, and such
payment is made upon, a change in the ownership or effective control of the Corporation or in the ownership of a substantial portion of the assets of the Corporation within the meaning of Code section 409A(a)(2)(A)(v). 
 C.   A Plan Year for an Award shall terminate upon the Committee’s authorization of the payment of such Award during such
Plan Year pursuant to this Section 8 and no further payments shall be made for such Plan Year with respect to such Award. 
 D.   If vesting of an Award is contingent on the Participant’s Employment during the period January 1 through the last day of February of the year immediately following the end of the Plan Year to which an Award relates,
and if a Change in Control occurs during that period or if a tender or exchange offer is made by another corporation during that period, as described in Section 8A or 8B above, the Committee shall, in the event of such Change in Control, or
may, at any time after the change in ownership or control and within thirty (30) days following completion of such tender or exchange offer, authorize the payment, at Final Value, of all outstanding Awards to Participants in Employment on the
last day of the Plan Year to which the Awards relate. If any Award payable under this Section 8D is then subject to Code section 409A, no payment shall be made unless the Change in Control or such tender or exchange offer, as applicable, also
constitutes, and such payment is made upon, a change in the ownership or effective control of the Corporation or in the ownership of a substantial portion of the assets of the Corporation within the meaning of Code section 409A(a)(2)(A)(v).

 Section 9.       Non-Transferability of Rights and Interests 
 A.   A Participant may not alienate, assign, transfer or otherwise encumber his rights and interests under this Plan and any
attempt to do so shall be null and void. 
 B.   In the event of a Participant’s death, the Committee shall
authorize payment of any Award due a Participant under Section 7B to the Participant’s designated beneficiary as specified or, in the absence of such written designation or its effectiveness, then to his estate. Any such designation may be
revoked and a new beneficiary designated by the Participant by written instrument delivered to the Committee. 
 Section 10.
      Limitation of Rights 
 Nothing in this Plan shall be construed to give any employee
of the Corporation or a Subsidiary any right to be selected as a Participant or to receive an Award or to be granted an Award other than as is provided herein. Nothing in this Plan or any agreement executed pursuant hereto shall be construed to
limit in any way the right of the Corporation or a Subsidiary to terminate a Participant’s employment at any time, without regard to the effect of such termination on any rights such Participant would otherwise have under this Plan, or give any
right to a Participant to remain employed by the Corporation or a Subsidiary in any particular position or at any particular rate of remuneration. 
  

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 Executed this          day of February
                        , 2010. 
  

									
	(CORPORATE SEAL)	 		 	SUNTRUST BANKS, INC.
					
	Attest:	 	 	 		 	By:	 	 
					
	Title:	 	Assistant Corporate Secretary	 		 	Title:	 	 

  

 8SunTrust Banks, Inc. SERP

 2009 Restatement 
  

 Exhibit 10.7 
 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 Amended and Restated as of 
 January 1, 2010 

 2009 Restatement 
  

 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 Amended and Restated as of 

 January 1, 2010 
 ARTICLE 1 
 ESTABLISHMENT AND PURPOSE 
 SunTrust Banks, Inc. hereby amends and restates the SunTrust Banks, Inc. Supplemental Executive Retirement Plan as last amended and restated effective
as of January 1, 2009 in the form of this SunTrust Banks, Inc. Supplemental Executive Retirement Plan amended and restated as of January 1, 2010 (the “Plan”). Except as otherwise specifically provided in this document, the terms
of this Plan shall apply only to a Participant who terminates employment with SunTrust and all Affiliates after 2004 and has not commenced receiving payment of the benefits under the Plan prior to January 1, 2009. During the period from
January 1, 2005 through December 31, 2008, the Plan has operated in reasonable good faith compliance with Code section 409A and the transitional guidelines set forth in official IRS guidance. The Plan is maintained to provide a targeted
level of post-retirement income for certain executives of SunTrust and its Affiliates and to supplement the benefits provided under the SunTrust Banks, Inc. Retirement Plan and the SunTrust Banks, Inc. ERISA Excess Retirement Plan. 
 This Plan is intended to better enable SunTrust to deliver more competitive levels of total retirement income to its senior executives; to aid in the
recruitment and retention of critical executive talent; and to comply with Code section 409A and official guidance issued thereunder (except with respect to Grandfathered Amounts). Notwithstanding anything herein to the contrary, this Plan shall be
interpreted, operated and administered in a manner consistent with these intentions. 
  

 1 

 2010 Restatement 
  

 ARTICLE 2 
 DEFINITIONS 
 All capitalized terms used in this Plan and not defined in this document (including an Appendix)
shall have the same meaning as in SunTrust’s Retirement Plan, as amended from time to time. The following capitalized terms will have the meanings set forth in this Article 2 whenever such capitalized terms are used throughout this Plan:

  

	2.1	Affiliate means as of any date any organization which is a member of a controlled group of corporations (within the meaning of Code section 414(b)) which includes SunTrust
or a controlled group of trades or businesses (within the meaning of Code section 414(c)) which includes SunTrust. 

  

	2.2	Beneficiary means one or more persons or entities entitled to receive any benefits payable under this Plan at the Participant’s death. A Participant may name one or
more primary Beneficiaries and one or more secondary Beneficiaries. A Participant may revoke a Beneficiary designation by filing a new Beneficiary Designation Form or a written revocation with the Committee. If the Committee is not in receipt of a
properly completed Beneficiary Designation Form at the Participant’s death, or if none of the Beneficiaries named by the Participant survives the Participant or is in existence at the date of the Participant’s death, then the
Participant’s Beneficiary shall be the Participant’s estate. 

  

	2.3	Beneficiary Designation Form means the form that a Participant uses to name his Beneficiary or Beneficiaries for purposes of this Plan. 

  

	2.4	Board means the Board of Directors of SunTrust. 

  

	2.5	Cause means for purposes of this Plan and as determined by the Committee, in its sole discretion, one or more of the following actions that serves as the primary reason(s)
for the termination of the Participant’s employment with SunTrust or an Affiliate: 

  

	 	(a)	the Participant’s willful and continued failure to perform his job duties in a satisfactory manner after written notice from SunTrust to Participant and a thirty
(30) day period in which to cure such failure; 

  

	 	(b)	the Participant’s conviction of a felony or engagement in a dishonest act, misappropriation of funds, embezzlement, criminal conduct or common law fraud;

  

 2 

 2010 Restatement 
  

	 	(c)	the Participant’s material violation of the Code of Business Conduct and Ethics of SunTrust or the Code of Conduct of an Affiliate; 

  

	 	(d)	the Participant’s engagement in an act that materially damages or materially prejudices SunTrust or an Affiliate or the Participant’s engagement in activities
materially damaging to the property, business or reputation of SunTrust or an Affiliate; or 

  

	 	(e)	the Participant’s failure and refusal to comply in any material respect with the current and any future amended policies, standards and regulations of SunTrust, any
Affiliate and their regulatory agencies, if such failure continues after written notice from SunTrust to the Participant and a thirty (30) day period in which to cure such failure, or the determination by any such governing agency that the
Participant may no longer serve as an officer of SunTrust or an Affiliate. 

 Notwithstanding anything herein to the
contrary, if a Participant is subject to the terms of a change in control agreement with SunTrust (the “Change in Control Agreement”) at the time of his termination of employment with SunTrust or an Affiliate, solely for purposes of such
Participant’s benefits under the Plan, “Cause” shall have the meaning provided in the Change in Control Agreement. 
  

	2.6	Code means the Internal Revenue Code of 1986, as amended. 

  

	2.7	Committee means the Compensation Committee of the Board. 

  

	2.8	Disabled or Disability means a Participant is, 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 (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the
Participant’s employer and, in addition, has begun to receive benefits under SunTrust’s Long-Term Disability Plan. 

  

	2.9	ERISA means the Employee Retirement Income Security Act of 1974, as amended. 

  

	2.10	ERISA Excess Plan means the SunTrust Banks, Inc. ERISA Excess Plan, as amended. 

  

	2.11	Grandfathered Amounts mean Plan benefits that were earned and vested as of December 31, 2004 within the meaning of Code section 409A and pursuant to the terms of the
Plan in effect on October 3, 2004. Grandfathered Amounts are exempt from Code section 409A and subject to the distribution rules in effect under the Plan on October 3, 2004. 

  

 3 

 2010 Restatement 
  

	2.12	Key Employee means an employee treated as a “specified employee” as of his Separation from Service under Code section 409A(a)(2)(B)(i) (i.e., a key employee (as
defined in Code section 416(i) without regard to section (5) thereof)) if the common stock of SunTrust or an Affiliate is publicly traded on an established securities market or otherwise. Key Employees shall be determined in accordance with
Code section 409A using a December 31 identification date. A listing of Key Employees as of an identification date shall be effective for the twelve (12) month period beginning on the April 1 following the identification date.

  

	2.13	MIP means the SunTrust Banks, Inc. Management Incentive Plan as in effect from time to time or any successor or replacement short-term bonus plan or any substitute plan
designated by the Committee. If a Participant does not participate in the MIP because he is participating in a functional plan or some other similar incentive plan, then MIP shall mean for such Participant the amount of the bonus under such other
plan, which shall be used as the MIP portion of such Participant’s SERP Compensation, except that if the amount of the bonus under such other plan exceeds the target MIP amount for that year for a similarly structured position, then the target
MIP amount will be used instead of the bonus from such other plan in determining such Participant’s SERP Compensation. If there is any material change in the terms, operation or administration of the MIP following a Change in Control as defined
in Article 13, then MIP means any successor to such plan in which the Participant is eligible to participate and which provides an opportunity for a bonus for the Participant which is comparable to the opportunity which the Participant had under
such plan before such Change in Control. 

  

	2.14	Other Retirement Arrangement means any plan, program, arrangement or agreement maintained by SunTrust or an Affiliate as described in Exhibit A to this Plan.

  

	2.15	Other Retirement Arrangement Benefit means for each Participant who is eligible for a benefit under any Other Retirement Arrangement, the benefit payable to that
Participant pursuant to that Other Retirement Arrangement. 

  

	2.16	Participant means each executive of SunTrust or an Affiliate described in Article 3. Effective as of January 1, 2001, a Participant shall be classified as a Tier 1
Participant, a Tier 2 Participant, as determined by the Committee, and his or her benefit under the Plan, if any, shall be determined in accordance with such classification. In the event an executive becomes a Participant in the Plan after
December 31, 2004, such Participant shall be classified as a Tier 2 Participant unless otherwise specifically designated by the Committee. 

  

 4 

 2010 Restatement 
  

	2.17	Plan means this SunTrust Banks, Inc. Supplemental Executive Retirement Plan, as reflected in this document, including appendices and exhibits, as amended (or as amended
and restated) from time to time. 

  

	2.18	PUP means the SunTrust Banks, Inc. Performance Unit Plan effective from time to time or any successor or replacement long-term bonus plan or any substitute plan designated
by the Committee for performance cycles ending on or before December 31, 2007. 

  

	2.19	Retirement Date means for each Participant, the date he or she reaches age 65. 

  

	2.20	Retirement Plan means the SunTrust Banks, Inc. Retirement Plan as amended and restated at the relevant time, and any successor plan. 

  

	2.21	Separation from Service means a “separation from service” within the meaning of Code section 409A. 

  

	2.22	SERP Average Compensation means for each Participant who terminates employment with SunTrust and all Affiliates on or after January 1, 2001, the average of such
Participant’s SERP Compensation for the three (3) full calendar years out of the five (5) full calendar years immediately preceding the date as of which his or her SERP Benefit is determined that will produce the largest amount.
Effective November 12, 2002, SERP Average Compensation means for each Tier 1 Participant and each Tier 2 Participant who terminates employment with SunTrust and all Affiliates on or after November 12, 2002, the average of such
Participant’s SERP Compensation for the three (3) full calendar years out of the ten (10) full calendar years immediately preceding the date as of which his or her SERP Benefit is determined that will produce the largest amount. If a
Participant became an employee of SunTrust or an Affiliate in connection with a corporate merger or acquisition, the Committee shall determine upon the date such Participant become eligible to participate in the Plan under Article 3 to what extent,
if any, such Participant’s compensation with the predecessor employer shall be included as his SERP Compensation under this Plan. 

  

 5 

 2010 Restatement 
  

	2.23	SERP Benefit means the “SERP Benefit” under the Plan determined as follows: 

  

	 	(a)	General.  SERP Benefit means for each Participant who is designated by the Committee as eligible for a SERP Benefit under this Plan, the annual benefit that
would have been payable on or after the Participant’s Retirement Date in the form of a life only annuity which is equal to the following, as applicable: 

  

	 	(1)	If a Participant is a Tier 1 Participant, his or her SERP Benefit is equal to (i) or (ii), whichever is greater, minus (iii), where: 

  

	 	(i) =	the Reduction Factor x (60% x his or her SERP Average Compensation); and 

  

	 	(ii) =	60% x his or her SERP Average Compensation as of December 31, 2007; and 

  

	 	(iii) =	(A + B + C + D) as described in Section 2.23(a)(3). 

 For purposes of this Section 2.23(a)(1), the term “Reduction Factor” means 96.3%. 
  

	 	(2)	If a Participant is a Tier 2 Participant, his or her SERP Benefit is equal to (i) plus (ii) minus (iii), where: 

  

	 	(i) =	2% x his or her SERP Service as of December 31, 2007 (up to twenty-five (25) years) x his or her SERP Average Compensation as of December 31, 2007 (the “Tier
2 Frozen Benefit”); 

  

	 	(ii) =	the annual benefit which is the Actuarial Equivalent (as defined in the Retirement Plan) to the amount that would have been credited to the Personal Pension Account (as defined
in the Retirement Plan), if any, under the Retirement Plan as of such date absent the limitations of Code section 415 and Code section 401(a)(17) (“SERP Personal Pension Account”). For purposes of determining the portion of the
Participant’s SERP Benefit attributable to his or her Personal Pension Account (as defined in the Retirement Plan), if any, PPA Compensation (as defined in the Retirement Plan) shall include: (a) the amount of any elective deferrals (for
the calendar year in which earned and not when deferred) from the MIP and any SunTrust functional incentive plan (or any successor or similar incentive or short-term bonus plan as determined by the Committee) (“FIP”) deferred into the
SunTrust Banks, Inc. Deferred Compensation Plan, as amended from time to time (the “Deferred Compensation Plan”); provided, that the amount of any such FIP or other incentive or short term bonus plan may not exceed the target MIP amount
for that same calendar year for a similarly structured position; and (b) the amount of any “Mandatory Deferral” (as defined in the Deferred Compensation Plan) vesting in such year; provided, that such Mandatory Deferral amount shall
not be included as PPA Compensation in any future year. 

  

	 	(iii) =	(A + B + C + D) as described in Section 2.23(a)(3); 

  

 6 

 2010 Restatement 
  

 Provided, that in no event shall the SERP Benefit for a Tier 2 Participant with an accrued
benefit as of December 31, 2007 be less than (iv) or (v), whichever is greater (the “Tier 2 Minimum Benefit”), minus (vi), where: 
  

	 	(iv) =	such Participant’s Tier 2 Frozen Benefit + (1.75% x his or her SERP Average Compensation x his or her SERP Service after December 31, 2007 (up to twenty-five
(25) years, including the SERP service at December 31, 2007); 

  

	 	(v) =	1.75% x his or her SERP Average Compensation x his or her SERP Service (up to twenty-five (25) years, including the SERP Service at December 31, 2007)); and

  

	 	(vi) =	(A + B + C + D) as described in Section 2.23(a)(3). 

  

	 	(3)	For purposes of the formulae in Sections 2.23(a)(1) and (2), 

  

	 	A =	such Participant’s annual Social Security benefit at age 65; 

  

	 	B =	such Participant’s annual Retirement Plan benefit, if any; 

  

	 	C =	such Participant’s annual benefit under the ERISA Excess Plan, if any; and 

  

	 	D =	such Participant’s annual Other Retirement Arrangement Benefit, if any. 

 If any benefit payable under A through D is payable in a form other than a life only annuity or such benefit is payable at a time other than the date as of which the SERP Benefit is paid, such benefit will be
converted to a life only annuity payable as of the same date as the SERP Benefit using the actuarial factors then in effect to make such conversions under the Retirement Plan. 
  

	 	(b)	 Special Lump Sum Calculation.  Notwithstanding the foregoing, this Section 2.23(b) shall apply for purpose of calculating the SERP Benefit
payable to or on behalf of a Participant designated by the Committee and named in Exhibit B attached to this Plan if the SERP Benefit of such Participant is paid in a lump sum. The

  

 7 

 2010 Restatement 
  

	 	 
amount of the SERP Benefit payable to or on behalf of such Participant will equal the present value, determined as described below, of 60% of the Participant’s SERP Average
Compensation less the sum of (A + B + C + D) where, 

  

	 	A =	the present value, determined as described below, of such Participant’s annual Social Security benefit at age 65; 

  

	 	B =	the lump sum benefit paid to such Participant under the Retirement Plan or, if the Participant’s benefit under the Retirement Plan is not paid in a lump sum, the amount that
would have been payable to such Participant as a lump sum under the Retirement Plan; 

  

	 	C =	such Participant’s benefit under the ERISA Excess Plan, or, if this benefit is not paid in a lump sum, the amount that would have been payable if the Participant’s
benefit under the ERISA Excess Plan had been paid in a lump sum; and 

  

	 	D =	the present value, determined as described below, of such Participant’s Other Retirement Arrangement Benefits, if any. 

 For purposes of this Section 2.23(b), “present value” is determined using the same interest rate and mortality assumptions used for
calculating lump sum payments under the Retirement Plan as in effect on December 31, 1995, including the interest rate published by the Pension Benefit Guaranty Corporation (“PBGC”), and when the PBGC rate is no longer published, the
interest rate will be (i) the rate that would be used to calculate a lump sum paid from the Retirement Plan less (ii) the average monthly difference between the PBGC rate and the Retirement Plan rate for the five (5) year period
ending on the date the PBGC rate was last published. 
  

	2.24	SERP Compensation means the compensation used to determine the SERP Benefit, as follows: 

  

	 	(a)	Tier 1 Participant.  For a Tier 1 Participant who terminates employment with SunTrust and all Affiliates on or after January 1, 2001, SERP Compensation
means the Participant’s compensation paid for a full calendar year from SunTrust and each Affiliate which is attributable to the sum of the following amounts: 

  

	 	(1)	such Participant’s annual base salary actually paid for the year (disregarding any elective deferrals by such Participant pursuant to any cafeteria plan under Code section
125 or any qualified plan under Code section 401(k) or any nonqualified plan and any pre-tax reductions for parking), which, effective January 1, 2010, shall include for the 2010 Plan Year for the designated Tier 1 Participant named in
Exhibit C, in addition to any other amounts, the specified dollar amount listed by his name on Exhibit C (subject to restrictions in Exhibit C) which represents the value of “Salary Shares” that the Committee has
denominated as part of such Participant’s 2010 base salary to be used in calculating benefits under certain plans, including this Plan; and 

  

 8 

 2010 Restatement 
  

	 	(2)	the amount of the cash bonuses such Participant earns under the MIP and the PUP, if any, for the year, without regard to whether any such bonus may be subject to elective
deferral or, if not deferred, may be paid in the year following the calendar year in which such bonus is earned. Notwithstanding the preceding provision, the amount of the PUP that may be included in SERP Compensation for any calendar year beginning
on or after January 1, 2005, shall not exceed the corresponding payout level (at minimum, target or maximum) established for the Tier 1 Participant’s February 2004 PUP award. As allowed by Section 2.18, the Committee has designated a
substitute plan to be treated as though it were the PUP award earned for the 2003-2005 cycle as described in the following sentence. The fair market value on the date of vesting of a Tier 1 Participant’s February 11, 2003 restricted stock
grant shall be used in the same manner in calculating such Participant’s SERP Compensation as if it were the amount of the PUP cash award earned for the cycle including 2003-2005. In no event shall any amounts be treated as a PUP award or be
included in SERP Compensation as a substitute for a PUP award in calendar years beginning after December 31, 2007. 

  

	 	(b)	Tier 2 Participant.  For a Tier 2 Participant, SERP Compensation means such Participant’s compensation paid for a calendar year from SunTrust and each
Affiliate which is attributable to the sum of the following amounts: 

  

	 	(1)	such Participant’s annual base salary actually paid for the year (disregarding any elective deferrals by such Participant pursuant to any cafeteria plan under Code section
125 or any qualified plan under Code section 401(k) or any nonqualified plan and any pre-tax reductions for parking), which, effective January 1, 2010, shall include for the 2010 Plan Year for the designated Tier 2 Participants named in
Exhibit C, in addition to any other amounts, the specified dollar amount listed by each such Participant’s name on Exhibit C (subject to restrictions in Exhibit C) which represents the value of “Salary Shares”
that the Committee has denominated as part of such Participant’s 2010 base salary to be used in calculating benefits under certain plans, including this Plan; and 

  

	 	(2)	the amount of the cash bonus such Participant earns under the MIP for the year, without regard to whether such bonus may be subject to elective or mandatory deferral or, if not
deferred, may be paid in the year following the calendar year in which such bonus is earned. 

  

 9 

 2010 Restatement 
  

	2.25	SERP Service means, effective January 1, 2001, a Participant’s whole and partial “years of benefit service” as calculated under the Retirement Plan
(including his “prior benefit service” under the Retirement Plan). If a Participant terminates employment with SunTrust and all Affiliates and is subsequently rehired by SunTrust or an Affiliate, he or she shall not accrue any additional
SERP Service following his or her reemployment unless the Committee again designates him or her as a Tier 1 or a Tier 2 Participant. If a Participant became an employee of SunTrust or an Affiliate in connection with a corporate merger or
acquisition, the Committee shall determine upon the date such Participant becomes eligible to participate in this Plan under Article 3 to what extent, if any, such Participant’s service with the predecessor employer shall be included as his
SERP Service under this Plan. 

  

	2.26	SunTrust means SunTrust Banks, Inc. or any successor to SunTrust Banks, Inc. 

  

	2.27	Tier 1 Participant means an employee of SunTrust or an Affiliate who is designated by the Committee as a Tier 1 Participant and listed as a Tier 1 Participant on
Exhibit D. 

  

	2.28	Tier 2 Participant means an employee of SunTrust or an Affiliate who is designated by the Committee as a Tier 2 Participant and listed as a Tier 2 Participant on
Exhibit D and any Participant who joins the Plan after December 31, 2004, unless the Committee specifically designates otherwise. 

  

	2.29	Vested Date means: 

  

	 	(a)	the applicable date specified on Exhibit E for those individuals listed on Exhibit E for whom the Committee has designated a special vesting date; and

  

	 	(b)	for a SERP Benefit not described in any other subsection of this Section 2.29, the date a Participant completes ten (10) whole years of SERP Service and reaches age 60.

 ARTICLE 3 
 PARTICIPATION 
 Each executive of SunTrust or an Affiliate who is eligible for one or more benefits under this Plan will be a Participant
in this Plan to the extent of the benefits for which he or she is eligible and will remain a Participant until all such benefits are paid to or on behalf of such Participant or forfeited in accordance with the terms of this Plan. 
  

 10 

 2010 Restatement 
  

 The Committee will designate those executives who are eligible for a SERP Benefit and will also designate each
eligible executive as a Tier 1 Participant or a Tier 2 Participant. After December 31, 2007, an executive who begins participation in this Plan will be a Tier 2 Participant. Effective January 1, 2009, at the time the Committee designates
an executive eligible to participate in this Plan, the Committee shall specify the applicable formula to calculate such Participant’s SERP Benefit, including any special SERP Compensation or SERP Service as described in Sections 2.22 and 2.25.

 Subject to Article 13, the Committee in its absolute discretion may revoke or change any such designation at any time but no such revocation or change
will be applied retroactively to deprive an individual of vested benefits accrued under this Plan to the date of such revocation or change. Eligibility for an Other Retirement Arrangement Benefit will depend upon the terms of the applicable Other
Retirement Arrangement. 
 ARTICLE 4 
 SERP BENEFIT 
  

	4.1	Amount.  

  

	 	(a)	Normal or Delayed Retirement Benefit. If a Participant terminates employment with SunTrust and all Affiliates on or after such Participant’s Retirement Date, the
entire vested benefit, if any, to which such Participant is entitled under this Plan shall be determined as soon as practicable following the date of such Participant’s termination of employment and shall be paid in accordance with
Section 4.2. 

  

	 	(b)	Early Retirement Benefit. 

  

	 	(1)	General.  If a Participant terminates employment with SunTrust and all Affiliates on or after such Participant’s Vested Date but before his or her
Retirement Date, such Participant’s entire vested benefit, if any, under this Plan (except an Other Retirement Arrangement Benefit) will be determined (taking into account the applicable reductions under Section 4.1(b)(2) through
Section 4.1(b)(4)) as of the date he or she terminates employment. Such benefit shall be paid in accordance with Section 4.2. 

  

	 	(2)	 Tier 1 Reduction.  For purposes of determining the SERP Benefit payable to a Tier 1 Participant before his or her Retirement Date, the product
of the applicable formula under Section 2.23(a)(1)(i) or (ii) will be reduced by a fraction, the numerator of which is such Participant’s SERP Service as of the date

  

 11 

 2010 Restatement 
  

	 	 
he or she terminates employment with SunTrust and Affiliates and the denominator of which is the SERP Service such Participant would have had if he or she had continued in employment with
SunTrust and Affiliates until such Participant’s Retirement Date. 

  

	 	(3)	Tier 2 Reduction.  For purposes of determining the SERP Benefit payable to a Tier 2 Participant before his or her Retirement Date, the SERP Benefit accrued under
the applicable formula stated in Section 2.23(a)(2) through such Participant’s termination of employment with SunTrust and all Affiliates will be reduced by the same early retirement reduction factors that are used in the Retirement Plan
as of December 31, 2007 to reduce the Future Service Benefit (i.e., 5/12% for each full month by which such Participant’s early retirement date precedes his or her Retirement Date, except that if the Participant was hired by SunTrust
before July 1, 1990, the reduction is from the first day of the month on or immediately following the date when such Participant would have attained age 60); and provided further that the portion of the SERP Benefit attributable to the SERP
Personal Pension Account (if any) shall be reduced on an Actuarial Equivalent basis. 

  

	 	(4)	Designated Participant Reduction.  This Subsection 4.1(b)(4) shall apply only to a Tier 1 Participant who is specifically designated by the Committee as eligible
for the following special retirement reduction (a “Designated Participant”), instead of the reduction in Section 4.1(b)(2), and who is listed as a “Designated Participant” on Exhibit F. For purposes of determining the
SERP Benefit payable to such a Designated Participant who elects early retirement after his or her Vested Date and prior to attaining age 60, the product of the applicable formula under Section 2.23(a)(1)(i) or (ii) will be reduced by a
fraction, the numerator of which is such Participant’s SERP Service as of his or her early retirement date and the denominator of which is the SERP Service such Participant would have completed if he or she had continued in employment with
SunTrust and Affiliates until such Participant’s Retirement Date, and then further reduced by a factor of 5/12% for each full calendar month by which such Participant’s early retirement date precedes the date he or she would attain age 60.

  

	 	(c)	Termination Before Vested Date.  Except to the extent a survivor benefit is payable on behalf of a Participant under Section 4.3 or except as provided in
Article 13, no benefit will be payable under this Plan to or on behalf of a Participant whose employment with SunTrust and all Affiliates terminates before the Vested Date for that particular benefit. 

  

 12 

 2010 Restatement 
  

	 	(d)	Special Disability Assumption for SERP Benefit.  If a Participant becomes Disabled before his Separation from Service, then the amount of the SERP Benefit
payable to such Participant will be calculated using the same service assumptions that are used to calculate the Participant’s benefit under the Retirement Plan and assuming that the annual base salary component of such Participant’s SERP
Compensation continues in effect at the same rate as earned at the time such Disability begins, and further assuming that the MIP component of such Participant’s SERP Compensation for any year, and also for a Tier 1 Participant, the PUP
component for years prior to 2008, during the Participant’s Disability, are equal to the target MIP and target PUP amounts, if any, for that year that would be payable to a SunTrust executive in a similarly position as such Participant held at
the time of his Disability, as determined by the Committee in its sole discretion. If such a Participant is eligible for benefits under this Section 4.1(d), payment of the Participant’s SERP Benefit shall be made in accordance with
Section 4.2. 

  

	4.2	Time and Form of Benefit Payable to Participants.  A Participant’s entire vested SERP Benefit under this Plan (other than Grandfathered Amounts) will be
paid at the time and in the form determined in accordance with the applicable provisions of the SunTrust Banks, Inc. ERISA Excess Retirement Plan, including any required six-month delay in payment for Key Employees. Notwithstanding the foregoing, if
a lump sum is payable to a Participant designated in Exhibit B, the amount of the lump sum will be calculated in accordance with the special lump sum calculation in Section 2.23(b). If the SERP Benefit is payable after the date of a
Participant’s Separation from Service (including as a result of the six month delay in payment for a Key Employee), interest shall accrue from the date of determination of such amount in the same manner and at the same rate as would accrue on
the Personal Pension Account under the Retirement Plan until payment commences. 

  

	4.3	Survivor Benefit. 

  

	 	(a)	General.  If a Participant who is an active SunTrust employee and eligible for a SERP Benefit (determined without regard to whether he or she is vested) or if a
Participant who has a vested SERP Benefit dies before he or she has received or begun to receive payment of his or her SERP Benefit, a survivor benefit automatically will be payable on such deceased Participant’s behalf under this Plan in the
amount described in this Section 4.3. 

  

 13 

 2010 Restatement 
  

	 	(b)	Time and Form of Payment.  The survivor benefit determined under this Section 4.3 based on the SERP Benefit other than Grandfathered Amounts shall be paid
in accordance with Section 4.2. 

  

	 	(c)	Survivor Benefit for Spouse.  If the Participant’s sole Beneficiary is the Participant’s surviving spouse, the survivor benefit payable to such spouse
under this Plan will be calculated as follows: 

  

	 	(1)	Step One – For a Tier 1 Participant, determine the product of the formula in either Section 2.23(a)(1)(i) or Section 2.23(a)(1)(ii) that produces the greater
amount. For a Tier 2 Participant, the amount which is greater between (y) the sum of Section 2.23(a)(2)(i) plus Section 2.23(a)(2)(ii), and (z) the Tier 2 Minimum Benefit (as defined in Section 2.23(a)(2)).

  

	 	(2)	Step Two – Determine the time as of which the benefit under the Retirement Plan would have been paid to the Participant, which is the later of the date the Participant would
have reached age 55 or the date of the Participant’s death (“Annuity Commencement Date”), and reduce the amount determined under Step One for early commencement, if applicable, as follows: 

  

	 	(i)	If the Participant is a Tier 1 Participant and if the Annuity Commencement Date is before the date such Participant would have reached age 65, the amount determined under Step
One above will be multiplied by a fraction, the numerator of which is the Tier 1 Participant’s SERP Service as of the date of his or her death and the denominator of which is the SERP Service the Tier 1 Participant would have had if he or she
had survived and continued in employment with SunTrust or an Affiliate until his or her Retirement Date, and 

  

	 	(ii)	If the Annuity Commencement Date is before the date the Tier 1 Participant would have reached age 60, or if the Participant is a Tier 2 Participant, then the amount determined in
Step One, as reduced in Step Two (i) above, if applicable, will be reduced further by the same early retirement reduction factors that are used in the Retirement Plan to reduce the Future Service Benefit (i.e., 5/12% for each full month by
which such Participant’s early retirement date precedes his or her Annuity Commencement Date, except that in the case of a Participant who was hired by SunTrust before July 1, 1990, the reduction is from the first day of the month on or
immediately following the date when such Participant would have attained age 60). 

  

 14 

 2010 Restatement 
  

	 	(iii)	This subparagraph 4.3(c)(2)(iii) shall apply only to a Participant who is designated by the Committee as eligible for the following special reduction (a “Designated
Participant”) and who is listed on Exhibit F as a Designated Participant for purposes of this subparagraph. If the Annuity Commencement Date is before the date such Designated Participant would have reached age 60, then the reduction in
Step Two (ii) is not used and the amount determined in Step One as reduced in Step Two (i) above will be reduced further by a factor of 5/12% for each full calendar month by which such Designated Participant’s date of death precedes
the date he or she would have attained age 60. 

  

	 	(3)	Step Three – Convert the amount determined under Step Two above as follows: 

  

	 	(i)	For a Tier 1 Participant, convert to a 100% joint and survivor annuity payable monthly as of the Annuity Commencement Date based on the ages the surviving spouse and such
Participant would have attained as of the Annuity Commencement Date, and 

  

	 	(ii)	For a Tier 2 Participant, convert to a 50% joint and survivor annuity payable monthly as of the Annuity Commencement Date based on the ages the surviving spouse and such
Participant would have attained as of the Annuity Commencement Date. 

  

	 	(4)	Step Four – Determine the time as of which the benefit will be paid under Section 4.3(e) and convert the survivor benefit determined under Step Three to a lump sum
using the actuarial factors then in effect under the Retirement Plan to make such conversion or, if applicable, the factors under Section 2.23(b). 

  

	 	(5)	Step Five – Reduce the amount determined in Step Four above by the sum of (A + B + C + D), where – 

  

	 	A =	the present value, determined as described below, of the Social Security survivor benefit that would have been payable to the spouse based on the Participant’s employment
when the Participant would have reached age 65; 

  

	 	B =	the lump sum survivor benefit payable to such spouse under the Retirement Plan or, if the survivor benefit under the Retirement Plan is not paid in a lump sum, the amount that
would have been payable to such spouse as a lump sum under the Retirement Plan; 

  

 15 

 2010 Restatement 
  

	 	C =	the survivor benefit payable to the surviving spouse under the ERISA Excess Plan or, if the survivor benefit under the Excess Plan is not paid in a lump sum, the amount that
would have been payable to such spouse if the survivor benefit under the Excess Plan had been paid in a lump sum; and 

  

	 	D =	the present value, determined as described below, of the survivor benefit payable under any Other Retirement Arrangement, if any, regardless of whether the Beneficiary is the
surviving spouse or someone else. 

 “Present value” is determined using the actuarial factors then in effect
under the Retirement Plan to calculate lump sums or, if applicable, the factors under Section 2.23(b). 
  

	 	(d)	Survivor Benefit for Non-Spouse Beneficiary.  If the survivor benefit under this Plan is payable to a non-spouse Beneficiary, it will be calculated in the same
manner as the survivor benefit under Section 4.3(c) by substituting the non-spouse Beneficiary for the spouse except that the conversion to a 100% joint and survivor annuity in the case of a deceased Tier 1 Participant or the conversion to a
50% joint and survivor annuity in the case of a deceased Tier 2 Participant, as described in Step Three and to an actuarially equivalent lump sum under Steps Four and Five of Section 4.3(c)(4) and (5) will be based on the assumption that
the Beneficiary is the same age as the Participant. If the non-spouse Beneficiary is not a person but is an entity (such as a trust or an estate), the survivor benefit shall be calculated in the same manner as described in this Section 4.3(d)
for a non-spouse Beneficiary who is a person. 

  

	 	(e)	Multiple Beneficiaries.  If the survivor benefit is payable to two or more beneficiaries, the amount allocable to each Beneficiary shall be determined by
allocating the amount resulting from applying Step One and Step Two of Section 4.3(c)(1) and (2) pro rata to each Beneficiary according to the Participant’s direction on the Beneficiary designation form. If the Participant’s
spouse is one of the multiple beneficiaries, then the amount of such spouse’s survivor benefit shall be determined by applying Steps Three, Four and Five of Section 4.3(c)(3), (4) and (5) to such spouse’s allocable share.
For a non-spouse Beneficiary, the same procedure shall be used as used for the Participant’s spouse who is one of multiple beneficiaries except that in applying Steps Three, Four and Five of Section 4.3(c)(3), (4) and (5), the
non-spouse Beneficiary shall be assumed to be the same age as the Participant. 

  

 16 

 2010 Restatement 
  

	 	(f)	No Post-Retirement Survivor Benefits.  No survivor benefit will be paid on behalf of a Participant who dies after he or she has received or has begun receiving
benefits under this Plan except to the extent such survivor benefit is payable under the form of benefit being paid to the Participant at his or her death. 

 ARTICLE 5 
 OTHER RETIREMENT ARRANGEMENT BENEFIT 
 If a Participant who is eligible for an Other Retirement Arrangement Benefit terminates employment with SunTrust and all Affiliates on or after the date the
Participant is vested in such benefit, his or her eligibility for the Other Retirement Arrangement Benefit, if any, to which such Participant is entitled and the eligibility for any survivor benefits payable on such Participant’s behalf under
such Other Retirement Arrangement shall be determined under the terms of such Other Retirement Arrangement; provided, however, to the extent any portion of such Other Retirement Arrangement Benefit or survivor benefits is subject to Code section
409A, the time and form of payment of such amounts shall be determined in accordance with Section 4.2. 
 ARTICLE 6 

FORFEITURE 
 The Committee, in its sole
discretion, may make any payments under this Plan subject to forfeiture on such terms and conditions as the Committee deems appropriate under the circumstances to protect the interests of SunTrust. Further, if the Participant is terminated from
employment with SunTrust or one of its Affiliates for Cause, the Committee in its discretion may forfeit entirely any benefits payable under this Plan. Forfeiture under this Article 6 shall be in addition to any other remedies which may be available
to SunTrust or an Affiliate at law or in equity. 
  

 17 

 2010 Restatement 
  

 ARTICLE 7 
 SOURCE OF BENEFIT PAYMENTS 
 All benefits payable under the terms of this Plan shall be paid by SunTrust from
its general assets. No person shall have any right or interest or claim whatsoever to the payment of a benefit under this Plan from any person whomsoever other than SunTrust, and no Participant or Beneficiary shall have any right or interest
whatsoever to the payment of a benefit under this Plan which is superior in any manner to the right of any other general and unsecured creditor of SunTrust. 
 ARTICLE 8 
 NOT A CONTRACT OF EMPLOYMENT 
 Participation in this Plan does not grant to any individual the right to remain an employee of SunTrust or any Affiliate for any specific term of employment or in any
specific capacity or at any specific rate of compensation. 
 ARTICLE 9 
 NO ALIENATION OR ASSIGNMENT 
 A Participant, a spouse or a Beneficiary under this Plan
shall have no right or power whatsoever to alienate, commute, anticipate or otherwise assign at law or equity all or any portion of any benefit otherwise payable under this Plan, and SunTrust shall have the right, in the event of any such action, to
terminate permanently the payment of benefits to, or on behalf of, any Participant, spouse or Beneficiary who attempts to do so. 
 ARTICLE 10 
 ERISA 
 SunTrust intends that this Plan come within the various exceptions and exemptions to ERISA for a plan maintained for a “select group of management or highly compensated employees” as described in ERISA sections 201(2), 301(a) (3),
and 401(a) (1), and any ambiguities in this Plan shall be construed to affect that intent. 
  

 18 

 2010 Restatement 
  

 ARTICLE 11 
 AMENDMENT AND TERMINATION 
  

	11.1	Amendment or Termination.  SunTrust reserves the right to amend or terminate the Plan when, in the sole discretion of SunTrust, such amendment or termination is
advisable, pursuant to a resolution or other action taken by the Committee. The Plan may also be amended pursuant to a written instrument executed by SunTrust’s senior most human resources officer to the extent such amendment is required under
applicable law or is required to avoid having amounts deferred under the Plan included in the income of Participants or beneficiaries for federal income tax purposes prior to distribution. 

 Notwithstanding the foregoing, no amendment of the Plan shall apply to the Grandfathered Amounts, unless the amendment specifically provides that it
applies to such amounts. The purpose of this restriction is to prevent a Plan amendment from resulting in an inadvertent “material modification” under Code section 409A to the Grandfathered Amounts. 
  

	11.2	Effect of Amendment or Termination.  Except as provided in the next sentence, no amendment or termination of the Plan shall be applied retroactively to deprive a
Participant of benefits accrued under this Plan to the date of such amendment or termination. Upon termination of the Plan, distribution of Plan benefits shall be made to Participants and beneficiaries in the manner and at the time described in
Article 4, unless SunTrust determines in its sole discretion that all such amounts shall be distributed upon termination in accordance with the requirements under Code section 409A. Upon termination of the Plan, no further benefit accruals shall
occur. 

 ARTICLE 12 
 ADMINISTRATION 
  

	12.1	General Administration.  The Committee shall be responsible for the operation and administration of the Plan and for carrying out the provisions hereof. The
Committee shall have the full authority and discretion to make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and decide or resolve any and all questions, including interpretations of this
Plan, as may arise in connection with this Plan. Any such action taken by the Committee shall be final and conclusive on any party. To the extent the Committee has been granted discretionary authority under the Plan, the Committee’s prior
exercise of such authority shall not obligate it to exercise its authority in a like fashion thereafter. The Committee shall be entitled to rely conclusively upon all tables, valuations, certificates, opinions and reports furnished by any actuary,
accountant, controller, counsel or other person employed or engaged by SunTrust with respect to the Plan. The Committee may, from time to time, employ agents and delegate to such agents, including employees of SunTrust, such administrative or other
duties as it sees fit. The Committee also shall have the power to delegate the exercise of all or any part of such powers to such other person or persons as the Committee deems appropriate under the circumstances. 

  

 19 

 2010 Restatement 
  

	12.2	Claims for Benefits.  The Committee shall adopt claims procedures in compliance with 29 C.F.R. § 2560.503-1, which shall be furnished automatically in a
separate document to the Participant, without charge, following a Participant’s request to the Committee, or its delegate. 

  

	12.3	Indemnification.  SunTrust and its Affiliates (to the extent permissible under law and consistent with their charters and bylaws) shall indemnify and hold
harmless the Committee, each individual member of the Committee and any Employee authorized to act on behalf of the Committee, SunTrust or any Affiliate under this Plan for any liability, loss, expense, assessment or other cost of any kind or
description whatsoever, including legal fees and expenses, which they actually incur for their acts and omissions, past, current or future, in the administration of the Plan. 

 ARTICLE 13 
 CHANGE IN CONTROL 
  

	13.1	Purpose.  The purpose of this Article 13 is to provide for an increase in the SERP Benefit payable under this Plan to a Participant who is adversely affected by
a Change in Control (as defined below) and thus to encourage each Participant to continue to work for SunTrust in the face of a possible Change in Control and to continue while doing so to act in the best interests of SunTrust and its shareholders.

  

	13.2	Definitions.  For purposes of this Article 13, the following terms shall have the meaning set forth opposite such terms for purposes of this Article 13:

  

	 	(a)	Cause - means (subject to Section 13.2(a)(5)) with respect to an individual Participant: 

  

	 	(1)	The willful and continued failure by the Participant to perform satisfactorily the duties of the Participant’s job; 

  

	 	(2)	The Participant is convicted of a felony or has engaged in a dishonest act, misappropriation of funds, embezzlement, criminal conduct or common law fraud;

  

	 	(3)	The Participant has engaged in a material violation of the Code of Business Conduct and Ethics of SunTrust or the Code of Conduct of an Affiliate; or 

  

 20 

 2010 Restatement 
  

	 	(4)	The Participant 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 an Affiliate; provided, however, 

  

	 	(5)	No such act, omission or event shall be treated as “Cause” under this Section 13.2(a) unless (1) the Participant 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 Committee (together with the Participant’s counsel if the Participant chooses to have the
Participant’s counsel present at such meeting) after the Participant has had a reasonable period in which to review such statement and, if the allegation is under Section 13.2(a)(1), has had at least a thirty (30) day period to take
corrective action and (2) the Committee after such meeting (if the Participant meets with the 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 Committee then in office at a meeting called and held for such purpose that “Cause” does exist under this Section 13.2(a). 

  

	 	(b)	 Change in Control - means 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 (2) consecutive years or less, individuals who at the beginning of such period constitute the Board of
SunTrust cease, for any reason, to constitute at least a majority of such 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) there is a consummation of 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) there
is a consummation of any

  

 21 

 2010 Restatement 
  

	 	 
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 Company beneficially owned by the persons described in Section 13.2(b)(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’s common stock immediately before the consummation of such transaction, provided (C) the percentage described in
Section 13.2(b)(iv)(A) of the beneficially owned shares of the successor or survivor corporation and the number described in Section 13.2(b)(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 Section 13.2(b)(iv)(A) immediately before
the consummation of such transaction. 

  

	 	(c)	Exchange Act - means the Securities Exchange Act of 1934, as amended. 

  

	 	(d)	Good Reason - means (subject to Section 13.2(d)(5)) with respect to an individual Participant: 

  

	 	(1)	SunTrust or any Affiliate after a Change in Control but before the end of the Participant’s Protection Period reduces the Participant’s base salary or opportunity to
receive comparable incentive compensation or bonuses without the Participant’s express written consent; 

  

	 	(2)	SunTrust or any Affiliate after a Change in Control but before the end of the Participant’s Protection Period reduces the scope of the Participant’s principal or
primary duties, responsibilities or authority without the Participant’s express written consent; 

  

	 	(3)	 SunTrust or any Affiliate at any time after a Change in Control but before the end of the Participant’s Protection Period (without the Participant’s
express written consent) transfers the Participant’s primary work site from the Participant’s primary work site on the date of such Change in Control or, if the Participant subsequently consents in writing to such a transfer from the
primary work site which was

  

 22 

 2010 Restatement 
  

	 	 
the subject of such consent, to a new primary work site which is outside the “standard metropolitan statistical area” which then includes the Participant’s then current primary
work site unless such new primary work site is closer to the Participant’s primary residence than the Participant’s then current primary work site; or 

  

	 	(4)	SunTrust or any Affiliate after a Change in Control but before the end of the Participant’s Protection Period fails (without the Participant’s express written consent)
to continue to provide to the Participant 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 the Participant immediately
prior to the Change in Control; provided, however, 

  

	 	(5)	No such act or omission shall be treated as “Good Reason” under this Article 13(d) unless – 

  

	 	(i)	(A) The Participant delivers to the Committee a detailed, written statement of the basis for the Participant’s belief that such act or omission constitutes Good Reason,
(B) the Participant delivers such statement before the later of (x) the end of the ninety (90) day period which starts on the date there is an act or omission which forms the basis for the Participant’s belief that Good Reason
exists or (y) the end of the period mutually agreed upon for purposes of this Section 13.2(d)(5)(i)(B) in writing by the Participant and the Chairman of the Committee, (C) the Participant gives the Committee a thirty (30) day
period after the delivery of such statement to cure the basis for such belief and (D) the Participant actually submits the Participant’s written resignation to the Committee during the sixty (60) day period which begins immediately
after the end of such thirty (30) day period if the Participant 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 the Participant that the Participant has the right to treat such act or omission as Good Reason under this Section 13(d) and the Participant
resigns during the sixty (60) day period which starts on the date such statement is actually delivered to the Participant; 

  

 23 

 2010 Restatement 
  

	 	(6)	If (i) the Participant gives the Committee the statement described in Section 13.2(d)(5)(i)(A) before the end of the thirty (30) day period which immediately
follows the end of the Protection Period and the Participant thereafter resigns within the period described in Section 13.2(d)(5)(i)(D), or (ii) SunTrust provides the statement to the Participant described in Section 13.2(d)(5)(ii)
before the end of the thirty (30) day period which immediately follows the end of the Protection Period and the Participant thereafter resigns within the period described in Section 13.2(d)(5)(ii), then (iii) such resignation shall be
treated under this Section 13.2(d) as if made in the Participant’s Protection Period; and 

  

	 	(7)	If the Participant consents in writing to any reduction described in Section 13.2(d)(1) or Section 13.2(d)(2), to any transfer described in Section 13.2(d)(3) or
to any failure described in Section 13.2(d)(4) in lieu of exercising the Participant’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 the Participant subsequently has Good Reason under this Article 13 to resign for Good Reason as a result of any subsequent reduction described in
Section 13.2(d)(1) or Section 13.2(d)(2), any subsequent transfer described in Section 13.2(d)(3) or any subsequent failure described in Section 13.2(d)(4). 

  

	 	(e)	Protection Period - means (subject to Section 13.2(d)(6): 

  

	 	(1)	for a Tier 1 Participant, the three (3) year period which begins on a Change in Control, and 

  

	 	(2)	for a Tier 2 Participant, the two (2) year period which begins on a Change in Control. 

  

	13.3	Application.  This Article 13 shall apply to a Participant if there is a Change in Control of SunTrust and 

  

	 	(a)	SunTrust or an Affiliate terminates the Participant’s employment without Cause during such Participant’s Protection Period, or 

  

	 	(b)	the Participant resigns for Good Reason during such Participant’s Protection Period. 

  

 24 

 2010 Restatement 
  

	13.4	Benefit Calculation for a Tier 1 Participant.  If this Article 13 applies to a Tier 1 Participant pursuant to Section 13.3, such Participant’s SERP
Benefit shall be calculated in accordance with the following special rules: 

  

	 	(a)	such Participant’s SERP Average Compensation shall be equal to the highest amount of his or her SERP Compensation received for any full calendar year during the ten
(10) consecutive calendar years which end on or immediately before the termination of such Participant’s employment which is described in Section 13.3. 

  

	 	(b)	such Participant’s SERP Service automatically shall be increased by the greater of (1) or (2) below: 

  

	 	(1)	any additional SERP Service granted to such Participant in accordance with any individual agreement between such Participant and SunTrust or a SunTrust Affiliate; or

  

	 	(2)	the lesser of (i) thirty-six (36) full months or (ii) the number of months between such Participant’s Retirement Date and the date of the termination of his
or her employment which is described in Section 13.3. 

  

	 	(c)	if such Participant is not already vested in his or her SERP Benefit, such Participant’s Vested Date shall mean the first date this Article 13 applies to him or her.

  

	 	(d)	such Participant’s age shall be such Participant’s actual age plus any additional years added to his or her age as provided in accordance with any individual agreement
between such Participant and SunTrust or a SunTrust Affiliate. 

  

	 	(e)	 such Participant’s entire SERP Benefit under this Plan (as calculated after taking into account the special rules set forth in Section 13.4(a) through
Section 13.4(d)) shall be paid to him or her in accordance with Article 4, and the actuarial equivalent factors used to compute such SERP Benefit shall be the actuarial equivalent factors in effect under the Retirement Plan on the date of the
Change in Control or, if more favorable to the Participant, the factors in effect under the Retirement Plan (or any successor to such plan) as in effect as of the date of the termination of his or her employment described in Section 13.3;
provided, however, that the amount of the SERP Benefit payable to a Participant designated as eligible for the special lump sum calculation in Section 2.23(b) shall be calculated (after taking into account the special rules set forth in
Section 13.4(a) through Section 13.4(d)) in accordance with Section 2.23(b) and; further provided,

  

 25 

 2010 Restatement 
  

	 	 
that if such termination of employment occurs before the date the Participant reaches age 60, the amount of the SERP Benefit called for under this Section 13.4(e) shall be reduced by .25% of
such benefit for each full calendar month that the actual payment of such benefit precedes the month in which the Participant will reach age 60 (and in such case, no other pre-age 60 reductions shall apply) and; further provided, that if any portion
of the SERP Benefit is payable in a lump sum after the date of a Participant’s Separation from Service (including as a result of the six month delay in payment for a Key Employee), interest shall accrue from the date of determination of such
amount in the same manner and at the same rate as would accrue on the Personal Pension Account under the Retirement Plan until the amount is paid under Article 4. 

  

	13.5	Benefit Calculation for a Tier 2 Participant.  If this Article 13 applies to a Tier 2 Participant pursuant to Section 13.3, such Participant’s SERP
Benefit shall be calculated in accordance with the following special rules: 

  

	 	(a)	such Participant’s SERP Average Compensation shall be equal to the highest amount of his or her SERP Compensation received for any full calendar year during the ten
(10) consecutive calendar years which end on or immediately before the termination of such Participant’s employment which is described in Section 13.3. 

  

	 	(b)	such Participant’s SERP Service automatically shall be increased by any additional SERP Service granted to such Participant in accordance with any individual agreement
between such Participant and SunTrust or a SunTrust Affiliate, including any interest that would have accrued during such period in the same manner and at the same rate as would accrue on the Personal Pension Account under the Retirement Plan;
provided, however, such additional SERP Service shall not impact the amount of the Tier 2 Frozen Benefit under Section 2.23. 

  

	 	(c)	such Participant’s Vested Date shall mean the first date this Article 13 applies to him or her pursuant to Section 13.3. 

  

	 	(d)	such Participant’s age shall be such Participant’s actual age plus any additional years added to his or her age as provided in accordance with any individual agreement
between such Participant and SunTrust or a SunTrust Affiliate. 

  

	 	(e)	 such Participant’s entire SERP Benefit under this Plan (as calculated after taking into account the special rules set forth in Section 13.5(a) through
Section 13.5(d)) shall be paid to him or her in accordance with

  

 26 

 2010 Restatement 
  

	 	 
Article 4, and the actuarial equivalent factors used to compute such SERP Benefit shall be the actuarial equivalent factors in effect under the Retirement Plan on the date of the Change in
Control or, if more favorable to the Participant, the factors in effect under the Retirement Plan (or any successor to such plan) as in effect as of the date of the termination of his or her employment described in Section 13.3; provided,
however, that if such termination of employment occurs before such Participant has attained (or is deemed to have attained) age 60, the amount of the SERP Benefit called for by this Section 13.5(e) shall be reduced by .25% of such benefit for
each full calendar month that the actual payment of such benefit precedes the month in which the Participant will attain age 60 (and in such case, no other pre-age 60 reductions shall apply) and, further provided, that if any portion of the SERP
Benefit is payable in a lump sum after the date of a Participant’s Separation from Service (including as a result of the six month delay in payment for a Key Employee), interest shall accrue from the date of determination of such amount in the
same manner and at the same rate as would accrue on the Personal Pension Account under the Retirement Plan until such amount is paid under Article 4. 

  

	13.6	No Amendment.  If there is a Change in Control, no amendment shall be made to this Plan thereafter which would adversely affect in any manner whatsoever the
benefit payable under this Article 13 to any Participant absent the express written consent of all Participants who might be adversely affected by such amendment if this Article 13 were, or could become, applicable to such Participants, and SunTrust
intends that each Participant rely on the protections which SunTrust intends to provide through this Section 13.6. 

  

	13.7	Denial of Claim for Benefits.  If this Article 13 applies to a Participant and such Participant’s claim for a benefit under this Plan is denied in whole or
in part under the appeal procedures established by the Committee for denied claims, any further challenge of such denial 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, an Affiliate, the Committee nor a Participant 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. 

  

 27 

 2010 Restatement 
  

	13.8	Reimbursements.  All of a Participant’s taxable reasonable costs and expenses incurred in connection with such arbitration shall be paid in full by SunTrust
promptly on written demand from the Participant, 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 $30,000 per year in attorneys’ fees unless a higher figure is awarded in the arbitration, in which event SunTrust shall pay the figure awarded in the arbitration. 

  

	 	Reimbursement of reasonable costs and expenses under this Section 13.8 shall be administered consistent with the following additional requirements as set forth in Treas.
Reg. § 1.409A-3(i)(1)(iv): (1) a Participant’s eligibility for benefits in one year will not affect a Participant’s eligibility for benefits in any other year; (2) any reimbursement of eligible expenses will be made on or
before the last day of the year following the year in which the expense was incurred; and (3) a Participant’s right to benefits is not subject to liquidation or exchange for another benefit. In the event the Participant is a Key Employee,
reimbursement for benefits under this Section 13.8 shall commence in the seventh month following the date of the Participant’s Separation from Service. No reimbursement shall be made under this Section 13.8 for the same expenses that
are reimbursed to a Participant under any other agreement between the Participant and SunTrust or an Affiliate. 

  

	13.9	Gross Up Payment.  Furthermore, if either the Committee or the arbitrators determine that the Participant incurred such fees and expenses in good faith and that
the Participant’s challenge was based on material and bona fide issue of fact or law, without regard to whether the challenge ultimately is resolved in favor of the Participant, then if any such reimbursement is treated as taxable income to the
Participant, SunTrust shall make a gross up payment to the Participant in an amount which shall indemnify and hold the Participant harmless from any tax liability of any kind or description whatsoever attributable to such reimbursement, including
any interest and penalties (the “Gross Up Payment”). Any Gross Up Payment made to or on behalf of the Participant under this Section 13.9 shall be made in compliance with Code section 409A and by the end of the year following the year
that the related taxes are remitted to the applicable taxing authority. In the event the Participant is a Key Employee, payment of any Gross Up Payment under this Section 13.9 shall commence in the seventh month following the date of the
Participant’s Separation from Service. 

  

	13.10	 Application to Beneficiaries.  If this Article 13 applies to a Participant pursuant to Section 13.3 and such Participant dies before
receiving or beginning to receive such Participant’s SERP Benefit, the survivor benefit for such deceased Participant’s Beneficiary or beneficiaries shall be calculated taking into account the special rules

  

 28 

 2010 Restatement 
  

	 	 
in Section 13.4 if such Participant was a Tier 1 Participant or in Section 13.5 if such Participant was a Tier 2 Participant. In addition, the provisions of Section 13.6 and
Section 13.7 shall apply to such Beneficiary or Beneficiaries. 

 ARTICLE 14 
 MISCELLANEOUS 
  

	14.1	Applicable Law.  This Plan will be construed in accordance with the laws of the State of Georgia (without regard to its choice-of-law rules) except to the extent
superseded by federal law. 

  

	14.2	Incapacity of Recipient.  If any person entitled to a distribution under the Plan is deemed by the Committee to be incapable of personally receiving and giving a
valid receipt for such payment, then, unless and until a claim for such payment shall have been made by a duly appointed guardian or other legal representative of such person, the Committee may provide for such payment or any part thereof to be made
to any other person or institution then contributing toward or providing for the care and maintenance of such person. Any such payment shall be a payment for the account of such person and a complete discharge of any liability of SunTrust and the
Plan with respect to the payment. 

  

	14.3	Taxes.  SunTrust or other payor may withhold from a benefit payment under the Plan or a Participant’s wages in order to meet any federal, state, or local
tax withholding obligations with respect to Plan benefits. SunTrust or other payor may also accelerate and pay a portion of a Participant’s benefits in a lump sum equal to the Federal Insurance Contributions Act (“FICA”) tax imposed
and the income tax withholding related to such FICA amounts. SunTrust or other payor shall report Plan payments and other Plan-related information to the appropriate governmental agencies as required under applicable laws. 

 

	14.4	Binding Effect.  This Plan shall be binding upon and inure to the benefit of any successor of SunTrust and any successor shall be deemed substituted for SunTrust
under this Plan and shall assume the rights, obligations and liabilities of SunTrust hereunder and be obligated to perform the terms and conditions of this Plan. As used in this Plan, the term “successor” shall include any person, firm,
corporation or other business entity or related group of such persons, firms, corporations or business entities which at any time, whether by merger, purchase, reorganization, liquidation or otherwise, or by means of a series of such transactions,
acquires all or substantially all of the assets or business of SunTrust. 

  

 29 

 2010 Restatement 
  

	14.5	Unclaimed Benefits.  Each Participant shall keep the Committee informed of his or her current address and the current address of his or her designated
Beneficiary. The Committee shall not be obligated to search for the whereabouts of any person if the location of a person is not made known to the Committee. 

  

	14.6	Severability.  In the event any provision of the Plan shall be held invalid or illegal for any reason, any illegality or invalidity shall not affect the
remaining parts of the Plan, but the Plan shall be construed and enforced as if the illegal or invalid provision had never been inserted. 

  

	14.7	Construction.  The headings and subheadings in this Plan have been set forth for convenience of reference only and have no substantive effect whatsoever.
Whenever any words are used herein in the masculine, they shall be construed as though they were used in the feminine in all cases where they would so apply; and whenever any words are used herein in the singular or in the plural, they shall be
construed as though they were used in the plural or in the singular, as the case may be, in all cases where they would so apply. 

  

 30 

 2010 Restatement 
  

 ARTICLE 15 
 EXECUTION 
 IN WITNESS WHEREOF, SunTrust has caused this amended and restated Plan to be
executed by its duly authorized officer to evidence its adoption hereof effective as of January 1, 2010. 
  

			
	 SUNTRUST BANKS, INC.

		
	 By:
	 	 
		
	 Title:
	 	 
		
	 Date:
	 	 
	 (SEAL)
	 	

  

 31 

 2010 Restatement 
  

 Exhibit A 
 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 AMENDED AND RESTATED AS OF JANUARY 1, 2010 
 Section 2.14, Other Retirement Arrangement 
 Pursuant to Section 2.14, Other
Retirement Arrangement means the following plan, program, arrangement or agreement (a) that is maintained by SunTrust or an Affiliate, (b) that provides a benefit calculated as a defined-benefit type benefit and (c) in which a
Participant also participates: 
  

	 	¡	 	 Crestar Financial Corporation Supplemental Executive Retirement Plan (“Crestar SERP”) 

  

	 	¡	 	 National Commerce Financial Corporation Retirement Plan including any predecessor plan. 

  

	 	¡	 	 National Commerce Financial Corporation Supplemental Executive Retirement Plan including any predecessor plan. 

  

 A-1 

 2010 Restatement 
  

 Exhibit B 
 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 AMENDED AND RESTATED AS OF JANUARY 1, 2010 
 Section 2.23(b), Special Lump Sum Calculation 
 The Committee has designated the following
Participants as eligible for the Special Lump Sum calculation described in Section 2.23(b) of the Plan document: 
  

	 	¡	 	 L. Phillip Humann 

  

	 	¡	 	 James M. Wells III 

  

 B-1 

 2010 Restatement 
  

 Exhibit C 
 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 AMENDED AND RESTATED AS OF JANUARY 1, 2010 
 Section 2.24, SERP Compensation 
 On December 30, 2009, the Committee approved
“Salary Shares” as part of the 2010 base pay for certain designated executives and directed that a portion of the value of such Salary Shares be recognized as base pay for purposes of calculating benefits under certain employee benefit
plans, including the SERP. Accordingly, the following rules apply to the executives named in the table below who are Participants in the 2010 Plan Year. 
 For purposes of calculating SERP Compensation, as defined in Section 2.24 of the main text of this Plan, of a Tier 1 or Tier 2 Participant who is named in the following table, his base salary for the 2010 Plan
Year shall include the dollar amount set forth by his name. The dollar amount represents a portion of the value of the Salary Shares the Participant is expected to receive in 2010 as part of his base pay. Such dollar value shall be pro rated,
restricted or limited to the extent required by the terms of the Plan in calculating and applying SERP Compensation. The Plan shall not recognize any additional amount of, or value for, Salary Shares. 
  

			
	Status & Name	  	 Value of Salary Shares
to be Included as Part
 of 2010 Annual Base Pay

	 TIER 1 Participant
	  	 
	 James M. Wells III
	  	$  1,799,091*
	 TIER 2 Participants
	  	 
	 William H. Rogers, Jr.
	  	$    554,400
	 Mark A. Chancy
	  	      504,000
	 David F. Dierker
	  	      340,200
	 Timothy E. Sullivan
	  	      438,442
	 Thomas O. Kuntz
	  	      307,476
	 Thomas E. Freeman
	  	      427,500
	 Raymond D. Fortin
	  	      229,005
	 C. T.
Hill
	  	      353,808 **
	     * This value for Mr. Wells is also used in the Crestar SERP benefit formula.
     ** This value for Mr. Hill is not used in the Crestar SERP benefit formula.

  

 C-1 

 2010 Restatement 
  

 Exhibit D 
 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 AMENDED AND RESTATED AS OF JANUARY 1, 2010 
 Sections 2.27 and 2.28, Tier 1 and Tier 2 Participants 
 The Committee designated the following
executives as Tier 1 and Tier 2 Participants: 
  

									
	 Name
  
	  	 Formula        
  
	  	 Participation Date        
  
	 	 Benefit    
Service Start    
Date    
  
	  	 Special Features
  

	 Phillip L.
	  	Tier 1          	  	 	 	Hire	  	 n  Special lump sum (PBGC)

	 Humann
	  	 	  	 	 	 	  	 n  Special early retirement reduction (service prorate, 5% from age 60)

	 	  	 	  	 	 	 	  	 n  100% vested on 2/1/2000, regardless of age and service

	 	  	 	  	 	 	 	  	 n  Restricted Stock substituted for PUP in 2003 – 2005 cycle

	 	  	 	  	 	 	 	  	 n  Effective 1/1/2005, PUP is limited to 2004 level (target, minimum, maximum)

	 James M.        
	  	Tier 1          	  	1/1/2001                	 	Hire	  	 n  Special lump sum (PBGC)

	 Wells III
	  	 	  	 	 	 	  	 n  Special early retirement reduction (service prorate, 5% from age 60)

	 	  	 	  	 	 	 	  	 n  100% vested on 2/1/2000, regardless of age and service

	 	  	 	  	 	 	 	  	 n  Restricted Stock substituted for PUP in 2003 – 2005 cycle

	 	  	 	  	 	 	 	  	 n  Effective 1/1/2005, PUP is limited to 2004 level (target, minimum, maximum)

	 	  	 	  	 	 	 	  	 n  Notwithstanding any elections or provisions to the contrary in this Plan or any Other Retirement Arrangement, the entire
amount of the SERP Benefit under the Plan shall be subject to Code section 409A (no Grandfathered Amounts in this Plan or any Other Retirement Arrangement) and shall be equal to the greater of: (a) Tier 1 SERP Benefit or (b)

  

 D-1 

 2010 Restatement 
  

									
	 Name
  
	  	 Formula        
  
	  	 Participation Date        
  
	 	 Benefit    
Service Start    
Date    
  
	  	 Special Features
  

	 	  	 	  	 	 	 	  	 Crestar SERP benefit. Such amount shall be paid in a lump sum in
accordance with Article 4.

	 Charles T.
 Hill
	  	Tier 2          	  	1/1/2001                
	 	Hire    	  	Notwithstanding any provisions to the contrary in this Plan or any Other Retirement Arrangement,
the entire amount of the SERP Benefit shall be subject to Code section 409A (no Grandfathered Amounts in this Plan or any Other Retirement Arrangement) and shall be the greater of: (a) Tier 2 SERP Benefit or (b) Crestar SERP benefit. Such amount
shall be paid in a lump sum in accordance with the participant’s elections.
	 Dennis M.
 Patterson
	  	Tier 2          	  	1/1/2001                
	 	Hire    	  	 
	 William H.
 Rogers, Jr.
	  	Tier 2          	  	1/1/2001                
	 	Hire    	  	 
	 E. Jenner
 Wood, III
	  	Tier 2          	  	1/1/2001                
	 	Hire    	  	 
	 Sterling
 Edmunds,
 Jr.
	  	Tier 2          	  	8/13/2002                	 	Hire    	  	 
	 Timothy E.
 Sullivan
	  	Tier 2          	  	1/7/2003                
	 	Hire    	  	 
	 Raymond D.
 Fortin
	  	Tier 2          	  	11/8/2004                	 	Hire    	  	 
	 David F.
 Dierker
	  	Tier 2          	  	11/8/2004                	 	Hire    	  	 
	 Mark A.
 Chancy
	  	Tier 2          	  	11/8/2004                	 	Hire    	  	 
	 Thomas G.
 Kuntz
	  	Tier 2          	  	11/8/2004                	 	Hire    	  	 
	 Gay O.
 Abbott
	  	Tier 2          	  	8/9/2005                
	 	Hire    	  	 

  

 D-2 

 2010 Restatement 
  

									
	 Name
  
	  	 Formula        
  
	  	 Participation Date        
  
	 	 Benefit    
Service Start    
Date    
  
	  	 Special Features
  

	 Frances L.
 Breeden
	  	Tier 2          	  	2/14/2006                	 	Hire	  	 
	 Thomas E.
 Freeman
	  	Tier 2          	  	2/14/2006                	 	Hire	  	 

 The following individuals who were former key officers of National Commerce Financial
Corporation or its affiliates were designated by the Committee as Tier 2 Participants: 
  

									
	 Name
  
	  	 Formula            
  
	  	 Participation Date        
  
	  	 Benefit    
Service Start    
Date    
  
	  	 Special Features
  

	 William
L.
 Reed, Jr.
	  	Tier 2          	  	1/1/2005                	  	8/1/2001	  	 n       NCF SERP (before offsets) is a minimum to the Tier 2 SERP minus PIA (before other offsets).

  

	 	  	 	  	 	  	 	  	 n       Tier 2 SERP benefit is offset by NCF SERP benefit.
  

	 	  	 	  	 	  	 	  	 n       NCF SERP earnings (base plus bonus paid) will be used for
years prior to 2005.
  
 n       SunTrust SERP earnings (base plus bonus earned) will be
used for years after 2004.
  
 n       2005 is a transition year for earnings. Depending on which
calculation
  
 produces the larger FAE, either the 2004

 
 or 2005 earnings will be adjusted as follows:
 —     2004 earnings will be NCF SERP earnings (2004 base plus 2004 bonuses paid) plus 2005 MIP
paid, or
  
 —     2005 earnings will be SunTrust SERP earnings (2005 base plus 2005 MIP earned) plus 2005 MIP paid.

  

 D-3 

 2010 Restatement 
  

 Exhibit E 
 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 AMENDED AND RESTATED AS OF JANUARY 1, 2010 
 Section 2.29(a), Special Vested Date 
 The Committee designated the Participants listed
below as being 100% vested in their SERP Benefits. 
  

	 	¡	 	 L. Phillip Humann 

  

	 	¡	 	 James M. Wells III 

  

 E-1 

 2010 Restatement 
  

 Exhibit F 
 SUNTRUST BANKS, INC. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 AMENDED AND RESTATED AS OF JANUARY 1, 2010 
 Sections 4.1(b)(4) and 4.3(c)(2)(iii), Designated Participant Reduction 
 The Committee
designated the Participants listed below as eligible for the special retirement reduction described in Section 4.1(b)(4) and in Section 4.3(c)(2)(iii): 
  

	 	¡	 	 L. Phillip Humann 

  

	 	¡	 	 James M. Wells III 

  

 F-1

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